Investor Relations

Rosneft shares are among the most attractive investment opportunities in the Russian stock market. 10.75% of its shares are free float, including 6.6% in the form of Global Depositary Receipts (GDR) traded on the London Stock Exchange (LSE). The Company enjoys a diversified investor base of over 700 institutional investors.

International institutional shareholders of the Company are based in major business and financial hubs, such as New York, Boston, Los Angeles, London, Frankfurt, Stockholm, Hong Kong, Singapore, and Tokyo. For ten years since its IPO, Rosneft shares have been steadily growing in value and outperforming their competitors and the MICEX index. Between 19 July 2006 and 30 December 2017, Rosneft share prices on the Moscow Exchange grew by 43%. As at late 2017, the Company’s capitalization was RUB 3.09 trln.

In 2014–2017, Rosneft’s total shareholder return (TSR) was 64.1%, i.e. 9.3 percentage points higher than the average for its Russian peers. Relations with the Company’s investors, both existing, and potential, are maintained by the Chairman of the Management Board of Rosneft, heads of businesses, First Vice President, and the Investor Relations Department. In 2017, the Company completed an extensive IR program, including a number of strategic speeches by the Chairman of the Management Board at major international investment forums, and over 200 one-on-one and group meetings between the Company’s management and top investment funds. Feedback from investors is reported to Rosneft’s management on a regular basis.

19 investment banks currently provide analytical coverage of the Company. Wood&Co initiated analytical coverage of Rosneft in November 2017. The Chairman of the Management Board of Rosneft and heads of relevant core functions maintain regular communications with the investor community. At such meetings, investors, analysts, and representatives of international rating agencies are updated on strategic trends in the Company’s development, its operations, and financial management directly by the Company’s management. Rosneft holds quarterly conference calls for investors involving heads of economics, finance, and operations and providing detailed coverage of the Company’s performance in the reporting period. Shareholder and investor materials, such as press releases, presentations, Rosneft’s Annual Report and Sustainability Report, and material facts on resolutions of the Company’s Board of Directors are posted on the Company’s official website.

2018 Priorities

Improve disclosure standards

Focus on investor and shareholder relations

Promote fast, high-quality, and skilful financial communications


Total Shareholder Return of Rosneft and Russian Peers in 2014–2017

2017 IR Highlights

January

Investor meetings at Deutsche Bank’s CEEMEA Conference, London

Investor meetings at ATON’s investment conference, Moscow

February

Disclosure of the Company’s performance for 2016

Investor conference call involving heads of finance, economics, and operations

Investor meetings at Credit Suisse’s Energy Summit, US

Investor meetings at Gazprombank’s Non-Deal Road Show, Hong Kong

Investor meetings at HSBC’s Non-Deal Road Show, Singapore

Investor meetings at Citi’s Non-Deal Road Show, New York, Boston, San Francisco, and Los Angeles

March

Investor meetings at J.P. Morgan’s Credit Emerging Markets Conference, US

Investor meetings at J.P. Morgan’s CEEMEA Conference, London

April

Investor meetings at Goldman Sachs’ Russia Corporate Days, Frankfurt

Investor meetings at Sberbank’s Exchange Forum, Moscow

Investor meetings at Credit Suisse’s Non-Deal Road Show, The Hague, Rotterdam, Brussels

May

Publication of Rosneft’s Annual Report for 2016

Disclosure of the Company’s performance for Q1 2017

Investor conference call involving heads of finance, economics, and operations

Investor meetings at Morgan Stanley’s CEEMEA Conference, London

Investor meetings at Goldman Sachs’ Top Projects & European Oil Services Symposium, London

Investor meetings at HSBC’s Non-Deal Road Show (HSBC), Copenhagen, Tallinn, Stockholm, London

June

Speech by the Chairman of the Management Board of Rosneft at the St. Petersburg Economic Forum

Speech by the Chairman of the Management Board of Rosneft at the Annual General Shareholders Meeting

Investor meetings at Renaissance Capital’s Annual Investor Conference, Moscow

August

Disclosure of the Company’s performance for Q2 2017

Investor conference call involving heads of finance, economics, and operations

September

Investor meetings at HSBC’s Annual EEMEA & LATAM, London

Investor meetings at Deutsche Bank’s Global EMEA, US

Investor meetings at Citi’s Non-Deal Road Show, Boston

October

Investor meetings at VTB Capital’s Investment Forum RUSSIA CALLING!, Moscow

November

Disclosure of the Company’s performance for Q3 2017

Investor conference call involving heads of finance, economics, and operations

Investor meetings at Goldman Sachs’ Global Natural Resources conference, London

Investor meetings at UBS's Global Emerging Markets One-on-One Conference, US

December

Investor meetings at Wood & Company’s Winter Emerging Europe Conference, Prague

Investor meetings at MOEX Goldman Sachs Forum, London

Investor meetings at HSBC’s Non-Deal Road Show, London

Index Rosneft Share and Depositary Receipt Index Weight as at the End of 2017, %
MSCI Russia 3.33
FTSE Russia IOB 4.48
MICEX 5.84
SCI Analytical coverage was initiated in November 2017. 18.76
Bank Recommendation, early 2017 Recommendation, late 2017
Bank of America Merrill Lynch Buy Buy
Citibank Buy Buy
Credit Suisse Hold Hold
Deutsche Bank Buy Buy
Goldman Sachs Hold Buy
HSBC Buy Buy
J.P. Morgan Hold Hold
Morgan Stanley Buy Buy
Sberbank CIB Hold Sell
UBS Hold Buy
BCS Prime Hold Buy
Gazprombank Hold Hold
Otkritie Buy Buy
Raiffeisen Bank Hold Buy
Wood & Company Analytical coverage was initiated in November 2017. Hold
Renaissance Capital Hold Buy
Uralsib Hold Hold
Aton Hold Buy
VTB Capital Put on review Put on review