The Board of Directors of PJSC LUKOIL held a meeting in Moscow today. ̉he following quantitative and personal composition of the Management Committee was approved:

Vagit Alekperov           President

VyacheslavVerkhov     Chief Accountant

Vadim Vorobyev          First Executive Vice President

Denis Dolgov               Vice President for Power Generation

Pavel ZhdanovVice President for Finance

Ilya Mandrik                 Vice President for Exploration and Development

Ivan Maslyaev              Vice President - General Counsel

Alexander Matytsyn      First Vice President

Anatoly Moskalenko      Vice President for Human Resources Management

and Social Policy

Oleg Pashaev   Senior     Vice President for Sales and Supplies

Denis Rogachev             Senior Vice President for Overseas Oil and Gas

Production

Gennady Fedotov            Vice President for Economics and Planning

Evgeny Khavkin              Vice President - Chief of Staff of PJSC LUKOIL

Azat Shamsuarov            First Vice President

The Board of Directors has taken the decision on a one-off bonus to the President of PJSC LUKOIL, approved the principal terms and conditions of contracts with the members of the Management Committee and determined the amount of payment for the services of the Company's auditor (JSC KPMG) for the audit of 2020 accounting (financial) statements of the Company. Amendments were made to the 2020 Annual Audit and Consulting Engagements Plan for the Internal Audit Service of LUKOIL.

The members of the Board of Directors also debriefed the 2019 Sustainable Development Report and approved the Anti-Corruption Policy of PJSC LUKOII developed on the basis of Russian and international legislation with recommendations of the Corporate Governance Code and best international practices taken into account. The text of the Policy is published on the Company's website.

In addition, the Board of Directors also reviewed the issue on independence of the members of the Board of Directors of the Company. In accordance with the Moscow Exchange Listing Rules and provisions of the Corporate Governance Code, the following members of the Board of Directors were recognized as independent: V. Blazheev, T. Gati, R. Munnings, P. Teplukhin, S. Shatalov, W. Schussel.

The Work Plan of the Board of Directors of PJSC LUKOIL for 2020/2021 was alsc approved at the meeting.

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