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Rosneft and Federal Tax Service Sign Second Agreement on Pricing for Tax Purposes

04 July 2013

On July 04, 2013 Rosneft President Igor Sechin and Head of the Federal Tax Service of Russia Mikhail Mishustin signed the Pricing Agreement for the purpose of taxation of oil sales transactions at the Russian market. The Agreement applies to 2012 sales of crude oil produced by Slavneft Group enterprises that in 2013 went under Rosneft's control following TNK-BP acquisition.

The purpose of the Agreement is not just the minimization of risks of possible disagreement on the matters related to establishment of prices for crude oil sales between related parties, but also ensuring the maximum transparency of taxpayers during the Russian FTS inspections.

It is the second agreement signed by Rosneft as part of the new order of fiscal control over the pricing of related party transactions to match the market parameters, as effectively established from January 01, 2012 by the Federal Law No. 227-FZ of 18.07.2011. In November 2012 Rosneft and 6 of its subsidiaries acted as the parties to the Agreement.

As the country's largest taxpayer, Rosneft strives for using the most efficient mechanisms of interaction with the tax authorities, minimizing any possible tax disputes and simplifying the inspection procedures.

Rosneft Information Division
Tel.: +7 (499) 517 88 97
www.rosneft.com
July 4, 2013

These materials contain statements about future events and expectations that are forward-looking in nature. Any statement in these materials that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ. We assume no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.