Corporate governance

AUDIT COMMISSION

The Audit Commission comprises five members elected on an annual basis and monitors the Company’s financial and business activities.

The Audit Commission audits the Company’s financial and business operations, verifies the accuracy and reliability of data included in Rosneft’s annual reports and annual accounting (financial) statements, and prepares proposals and recommendations for improving the asset management efficiency and streamlining the risk management and internal control system.

In 2020, the Audit Commission held two meetings that, among other things, adopted its action plan and approved an audit programme.

The findings of the Audit Commission were communicated as part of the materials for the General Shareholders Commission. Meeting in the form of an opinion of the Audit Commission on the accuracy and reliability of data included in Rosneft’s Annual Report and annual accounting (financial) statements as at 31 December 2020, and in the report on interested-party transactions entered into in the reporting period.

The annual compensation awarded by the Annual General Shareholders Meeting to the members of the Audit Commission amounted to RUB 440,000 in 2020.

No compensation was paid to public officers serving on the Audit Commission.

The Audit Commission is governed by the Regulations on Rosneft’s Audit Commission.

The procedure for calculating and paying remunerations and compensations to the members of the Audit Commission is described in Rosneft’s Regulations on Remunerations and Compensations Payable to Rosneft’s Audit Commission Members.

On 2 June 2020, the Annual General Shareholders Meeting resolved to elect the Audit Commission as follows:

Chairman

Zakhar Sabantsev

Born in 1974.

Graduated from the Moscow State University of Economics, Statistics, and Informatics.

Holder of ministerial awards — Letter of recognition from the Minister of Finance of the Russian Federation (2007), For Excellent Work in Finance badge of the Ministry of Finance of the Russian Federation (2012).

Section Head, Bank Sector Monitoring, Consolidated and Analytical Work Section, Financial Policy Department, Ministry of Finance of the Russian Federation.

Members of the Audit Commission

Olga Andrianova

Born in 1958.

Graduated from the All-Russian State Distance-Learning Institute of Finance and Economics (ARDLIFE).

Holder of a ministerial award — Certificate of Merit of the Russian Ministry of Energy.

Chief Accountant — Head of Finance and Economics at JSC ROSNEFTEGAZ.

Tatyana Zobkova

Born in 1976.

Graduated from Moscow State Pedagogical University and National Research Nuclear University (MEPhI).

Lead advisor, deputy head of unit, head of unit, Deputy Director of Corporate Policy and Property Relations in the Fuel Producing Industries, Pricing and Audit in the Fuel & Energy Industry, Ministry of Energy of the Russian Federation.

Sergey Poma

Born in 1959.

Graduated from Nakhimov Black Sea Higher Naval School and St Petersburg State University

Vice President of the National Association of Securities Market Participants (NAUFOR).

Pavel Shumov

Born in 1978.

Graduated from the Moscow State University of Economics, Statistics, and Informatics.

Head of unit, Deputy Director, Department of State Regulation of Tariffs and Infrastructure Reforms.