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TNK-BP Holding Сonvenes General Shareholders’ Meeting in Moscow

27 June 2013

The key items on the agenda include the approval of company’s annual report and financial statements, as well as 2012 profit distribution and the election of the new Board of Directors. The shareholders will also decide on amendments to the Company charter, which among others include the change of the Company name.

The dividends for 2012 will also be put to vote. Mention should be made that the Board of Directors of the TNK-BP Holding recommended not paying dividends at its meeting on 5 June 2013.

“Rosneft completed its acquisition the TNK-BP on 21 March 2013 to become the world’s top publicly traded oil and gas company by hydrocarbon reserves and production. However, being the leader of the business does not only mean huge profits, but also large spending in order to uphold all Company commitments,” Rosneft Vice President for Legal Support, property and corporate governance Igor Maydannik, said. “The key objectives for the Company in the near future will include a high-quality integration of TNK-BP assets, the synergy from which is currently estimated at about $12 billion. This and effective development of existing fields, development of unconventional reserves, development of the natural gas business and refinery modernization program will facilitate the growth of the Company’s shareholder value.

“We are set to concentrate our efforts on establishing a uniform approach to the dividend policy for the united company, which may help meet the interests of all shareholders, define standard terms of paying dividends, while also taking into account the baseline principles of corporate governance: information transparency and fair attitude to all groups of shareholders. Understanding this, Rosneft thinks it is necessary to address the approach to profit distribution and dividend payment of TNK-BP Holding taking into account integrated dividend policy of the united company,” he pointed out.

Company’s number one priority is to ensure equal attitudes and rules of work with all shareholders. However, the corporate values of Rosneft may be extended to TNK-BP Holding only from the time the Company completed the acquisition of TNK-BP on 21 March 2013.

The group established a committee for work with minority shareholders in a bid to devise an integrated dividend policy. The committee is co-chaired by Vice President for Economics and Finance Svyatoslav Slavinskiy and Vice President for Legal Support, property and corporate governance Igor Maydannik.

The committee is tasked to prepare suggestions for the Rosneft management concerning the single dividend policy. Proposals and recommendations on the committee’s functions can be sent to committee.inquiries@rosneft.ru.

TNK-BP Holding and the management of the united company stick to the principle of maximum openness and informational transparency in its work with minority shareholders – in line with the best international practices. The Company’s management holds regular meetings with representatives of the investor community, inviting independent experts and consultants to assist in various affairs.

The Company will timely and duly notify all parties concerned about the changes in the relations with the shareholders of TNK-BP Holding.

Rosneft
Information Division
www.rosneft.com
tel.: + 7 (499) 517-88-97 27
June 2013