Corporate Governance

General Shareholders Meeting

In 2019, the Company’s supreme governing body met twice – for one Annual and one Extraordinary General Shareholders Meeting.

As at 31 December 2019, all resolutions of the 2019 shareholders meetings were implemented in full.

Annual General Shareholders Meeting

On 4 June 2019, Rosneft’s Annual General Shareholders Meeting was held in St Petersburg and was attended by holders of 91.39% of the Company shares.

The meeting reviewed the performance for the period, approved the Annual Report, annual accounting (financial) statements and net income distribution for 2018 (including for dividend payment), elected the Board of Directors and the Audit Commission, determined their remuneration for the period, and approved the Company’s Auditor.

Speaking on the agenda items were the Chairman and members of the Board of Directors, Chief Executive Officer, senior management representatives, and external analysts.

The Chairman of the Board of Directors and the Chief Executive Officer answered questions coming from the shareholders and commented on the Company’s position on key business matters.

The procedure for convening, preparing for, holding and following up on the General Shareholders Meeting is set forth by Rosneft’s Regulations on the General Shareholders Meeting.

For shareholders located in Rosneft’s cities of operation and at the Company’s production facilities, the meeting was broadcast live, enabling viewers to ask questions.

The broadcast was available in the cities and towns of Gubkinsky, Komsomolsk-on-Amur, Krasnodar, Krasnoyarsk, Moscow, Nakhodka, Neftekumsk, Nefteyugansk, Novy Urengoy, Samara, Tyumen, Tuapse, Usinsk, Ufa, Khabarovsk, Yuzhno-Sakhalinsk, and the Vankor field.

Extraordinary General Shareholders Meeting

As part of implementing its dividend policy, on 30 September 2019 the Company held an Extraordinary General Shareholders Meeting by absentee voting, which resolved to pay dividends for the first six months of 2019. The holders of 91.89% of the Company shares took part in the voting.