The Extraordinary General Meeting of Shareholders of JSOC Bashneft held today by absentee voting approved a number of related-party transactions.

The Meeting approved changes to the terms and conditions of a contract for supply of petrochemicals concluded between JSOC Bashneft and OJSC Ufaorgsintez in 2013, as well as a contract for supply of paraxylene between JSOC Bashneft and LLC RusPETF.

In addition, the Meeting approved a service contract for well drilling, construction and repairs between JSOC Bashneft and LLC Targin-Bureniye, a contract for capital construction between JSOC Bashneft and LLC Yanaulskoye Administration of Neftestroymontazh, a contract for transportation services between JSOC Bashneft and LLC Transkhim and a contract for rail freight transportation services between JSOC Bashneft and OJSC SG-trans. The Meeting of Shareholders also approved changes to the terms and conditions of a loan agreement concluded between JSOC Bashneft and LLC Bashneft-Polyus in 2012.

These transactions relate to the Company’s day-to-day operations and were considered and approved by the Meeting of Shareholders pursuant to Bashneft’s Charter, which stipulates that related-party transactions in property worth 2 and more percent of the carrying value of the Company’s assets come within the competence of the General Meeting of Shareholders. The rationale for the above transactions is provided on Bashneft’s website at www.bashneft.ru (the Investors & Shareholders / Meetings of Shareholders section).