The Annual General Meeting of Shareholders (AGM) of JSOC Bashneft convened today in Ufa and approved the Company’s annual report and annual financial statements, including the Company’s profit and loss statement, for 2013.

The AGM took the decision to allocate for dividend payments for the 2013 fiscal year part of JSOC Bashneft’s net income for 2013 amounting to RUB 37.48 billion (RUB 211 per ordinary and preferred share).

In addition, the AGM set the record date in accordance with the decision to pay (declare) dividends at June 23, 2014. Dividend payments are expected to be made in the first half of July 2014.

The AGM elected a new membership of the Board of Directors of JSOC Bashneft, which includes:

1. Didier Baudrand
2. Charles Watson
3. Thomas Winkler
4. Alexander Goncharuk
5. Sergey Drozdov
6. Felix Evtushenkov
7. Alexander Korsik
8. Vsevolod Rozanov
9. Michael Hecker
10. Mikhail Cherniy

The AGM elected members to the Audit Commission and approved CJSC BDO as JSOC Bashneft’s auditor for 2014 under Russian Accounting Standards, and CJSC Deloitte & Touche CIS as JSOC Bashneft’s auditor for 2014 under International Financial Reporting Standards.

Due to changes in legislation and requirements of regulators and of the Code of Corporate Governance, the AGM approved new versions of the Charter of JSOC Bashneft and the Regulations on the General Meeting of Shareholders of JSOC Bashneft.

At the meeting of the Board of Directors held after the Meeting of Shareholders, Felix Evtushenkov was re-elected as Chairman of the Board.

The Board of Directors also approved the number and membership of the following board committees:

• Health, Safety, Environment and Social Responsibility Committee (chaired by Didier Baudrand);
• Strategy Committee (chaired by Mikhail Cherniy);
• Nominating and Compensation Committee (chaired by Alexander Goncharuk);
• Audit Committee (chaired by Thomas Winkler);
• Finance, Budget and Risk Committee (chaired by Vsevolod Rozanov);
• Corporate Conduct Committee (chaired by Sergey Drozdov);

Project Assurance Committee (chaired by Charles Watson).