LKOD.L Regulatory News (LKOD)

On 28 October 2016 the Board of Directors of PJSC "LUKOIL" resolved to hold the Extraordinary General Shareholders Meeting of PJSC "LUKOIL" on 05 December 2016 in the form of absentee voting, with the following agenda:

1. On payment (declaration) of dividends based on the results of the first nine months of 2016;

2. On payment of a part of the remuneration to members of the Board of Directors of PJSC "LUKOIL" for their performance of the functions of the members of the Board of Directors.

The date of determining (formalizing) the persons entitled to take part in the Extraordinary General Shareholders Meeting of PJSC "LUKOIL" (the Meeting) will be 10 November 2016.

The postal address to which completed ballots must be sent: OOO «Registrator «Garant», Krasnopresnenskaya Naberezhnaya 6, Moscow, 123100, Russian Federation.

The deadline for the receipt of ballots is 05 December 2016.

The Board of Directors approved the list of information (materials) to be provided to shareholders in preparation for the Extraordinary General Shareholders Meeting of PJSC "LUKOIL" and the form and text of the ballots.

The Board of Directors recommended that the Extraordinary General Shareholders Meeting of PJSC "LUKOIL" in particular adopt the following decisions.

1. To pay dividends on ordinary shares of PJSC "LUKOIL" based on the results of the first nine months of 2016 in the amount of 75 roubles per ordinary share.

To propose that the Extraordinary General Shareholders Meeting set 23 December 2016 as the date on which persons entitled to receive dividends based on the results of the first nine months of 2016 will be determined.

The dividends should be paid using monetary funds from the account of PJSC "LUKOIL" as follows:

- Dividend payments to nominee shareholders and trust managers who are professional market participants registered in the shareholder register of PJSC "LUKOIL" to be made not later than 12 January 2017,

- Dividend payments to other persons registered in the shareholder register of PJSC "LUKOIL" to be made not later than 2 February 2017.

The costs on the transfer of dividends, regardless of the means, will be paid by PJSC "LUKOIL".

2. To pay a part of the remuneration to members of the Board of Directors of PJSC "LUKOIL" for performance of their functions (Board fee) for the period from the date the decision on the election of the Board of Directors was taken to the date this decision is taken constituting one-half (i.e. 3,000,000 roubles each) of the Board fee established by decision of the Annual General Shareholders Meeting of PJSC "LUKOIL" on 23 June 2016 (Minutes No.1).

The full text of recommendations of the Board of Directors on the Extraordinary General Shareholders Meeting agenda will be included in the set of documents provided to the shareholders in preparation for the Extraordinary General Shareholders Meeting. These documents will be available on the Company's websites at www.lukoil.ru (in Russian) and at www.lukoil.com (in English) from 3 November 2016.