Total Voting Rights

LUKOIL ANNOUNCES SHARE CANCELLATION AND CHARTER CAPITAL REDUCTION

PJSC "LUKOIL" (hereinafter - the Company) announces that today it cancelled 22,134,238 of its common shares and that following such share cancellation, the total number of issued common shares decreased to 692,865,762; and the charter capital of PJSC "LUKOIL" decreased to RUB 17,321,644.05.

The cancellation of shares was executed pursuant to the resolution of the Company's Extraordinary General Shareholders Meeting dated December 03, 2019 on reduction of the charter capital of PJSC "LUKOIL" through acquisition of a portion of issued shares in order to reduce the total number thereof.

The charter of PJSC "LUKOIL" as amended to reflect the charter capital reduction will be made available on the Company's website www.lukoil.com following registration of the amendments.

The total voting rights in the Company are 692,865,762. This figure for the total number of voting rights may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their voting rights in, or a change to their voting rights in, the Company under Chapter 5 of the United Kingdom Financial Conduct Authority's Disclosure Guidance and Transparency Rules.