Information for shareholders and investors

Institutional Investor Relations

Rosneft shares are among the most attractive investment instruments in the Russian stock market. The Company has a free float of 11%, including 5.4% in the form of GDRs traded on the London Stock Exchange (LSE). Rosneft enjoys a diversified investor base of around 500 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 over ten years since its IPO, Rosneft shares have been steadily growing in value. Between 19 July 2006 (IPO) and 31 December 2020, Rosneft's share prices on the Moscow Exchange doubled.

Following the disclosure of operational and financial indicators for 2020 during the trading session on 26 March 2021, the Company's market cap on the Moscow Exchange set a new record, going above

RUB 585 per share

Relations with the Company’s investors, both existing and potential, are maintained by the Chairman of the Management Board of Rosneft, First Vice President, heads of businesses, and the Investor Relations Department. In 2020, despite pandemic-related challenges and restrictions, the Company actively engaged with investors, including through a number of Rosneft management's speeches at major international forums. The Company sent representatives to five in-person conferences (in January–March 2020), held over 300 group and one-on-one virtual meetings with representatives of more than 400 funds, and organised about 200 conference calls (including four quarterly disclosures) and seven calls dedicated to the Company's activities.

Feedback from investors is reported to Rosneft’s management on a regular basis.

Currently, 20 investment banks provide analytical coverage of the Company, with 18 of them recommending to buy or hold Rosneft shares/GDRs.

The Chairman of the Management Board of Rosneft and heads of relevant core functions maintain regular communications with the investor community, where 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 top executives. Rosneft holds quarterly conference calls for investors involving heads of economics, finance, and operations who provide 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, as well as material facts on resolutions of the Company’s Board of Directors are posted on the Company’s website.

In 2020, the Company also kept improving its ESG practices and disclosures. In June 2020, Rosneft released an updated public statement on its contribution towards achieving the UN Sustainable Development Goals approved by the Company’s Board of Directors in December 2018. During the reporting year, Rosneft maintained regular communication with investors supporting the global Climate Action 100+ initiative. The Company held around 50 investor calls on ESG matters and an ESG-focused roadshow. Rosneft maintains an ongoing dialogue with key ESG analytical and rating agencies.

Transparency and openness of the Company’s ESG disclosure have gained international recognition. In 2020, Rosneft was once again included in the FTSE4Good Index of companies demonstrating strong ESG practices. Rosneft became the best Russian oil and gas company in the CHRB, Bloomberg and Refinitiv ESG ratings, and improved its position in TPI и MSCI rankings.

Priorities for 2020
  • Improve disclosure standards
  • Focus on investor and shareholder relations more closely
  • Promote fast, high-quality, and skilful financial communications
Institutional investor relations

2020 IR highlights

January
Logo J.P. Morgan

CEEMEA Opportunities Conference (London)


Logo Berenberg

Berenberg Energy Transition Outlook 2020 Conference (London)

February
Logo Credit Suisse

25th Annual Energy Summit (Vail)


Logo J.P. Morgan

GEM Corporate Conference (Miami)


Logo UBS

Russian Corporate Days Conference
(Stockholm and Frankfurt)

Disclosure of the Company’s performance for 2019 Investor conference call involving heads of finance, economics, and operations

March
Logo UBS

European Oil & Gas Conference


Logo Aton

Oil Conference


Logo Goldman Sachs

Russian Corporate Days Conference

April
Logo Bank of America

Energy & Utilities Conference


Logo Moscow Exchange

Moscow Exchange Forum

May
Logo Morgan Stanley

GEMs EEMEA Conference 2020

Disclosure of the Company’s performance for Q1 2020 Investor conference call involving heads of finance, economics, and operations

June
Logo Bank of America

The Emerging Markets Debt and Equity Conference


Logo Morgan Stanley

Annual GEMs EEMEA Conference


Logo Credit Suisse

Global Energy Conference


Logo Wood

EMEA Commodities — Well Grounded Conference


Logo Renaissance Capital

Annual Russia Investor Conference


Logo VTB

VTB Capital Investments online session

August
Logo HSBC

Russia Investors Day (Stockholm, Frankfurt)

Disclosure of the Company’s performance for Q2 2020 Investor conference call involving heads of finance, economics, and operations

September
Logo UBS

Russian Corporate Days Conference


Logo Citi

2020 Virtual GEMS Conference


Logo Berenberg

CEEMEA Global Energy Conference


Logo HSBC

2020 Global Emerging Markets Forum

October
Logo HSBC

2020 Global Emerging Markets Forum

Logo SBER CIB
Logo Moscow Exchange

Russia: The Inside Track Conference

November
Logo J.P. Morgan

Global Energy Conference


Logo Goldman Sachs

CEEMEA Conference
Global Natural Resources Conference


Logo Bank of America

Global Energy Conference 2020


Logo VTB

RUSSIA CALLING Forum

Disclosure of the Company’s performance for Q3 2020 Investor conference call involving heads of finance, economics, and operations

December
Logo UBS

Global Emerging Markets Virtual Conference


Logo Wood

Emerging Europe Conference

Index Rosneft share and depositary receipt index weight as at January 2021, %
MSCI Russia 3.25%
FTSE Russia 3.34%
IMOEX 3.33%
List of the largest institutional equity and GDR investors as at 31 December 2020 Free float Excluding strategic investors.
Capital Group 9.45%
BlackRock 4.41%
Vanguard 4.06%
Arrowstreet Capital, LP 3.55%
State Street Corp. 2.38%
GIC Pte Ltd. 1.94%
Pzena Investment Management LLC 1.82%
SAFE Investment Co. Ltd. 1.80%
Macquarie Group Ltd. 1.77%
UBS Group AG 1.45%
VanEck Associates Corp. 1.36%
APG Asset Management NV 1.17%
Legal & General Group plc 1.05%
Amundi Pioneer 1.02%
No Bank Recommendation, early 2020 Recommendation, late 2020
1 BCS Buy Buy
2 Renaissance Capital Buy Buy
3 ATON Buy Buy
4 SOVA Capital Buy Buy
5 Raiffeisen Bank Buy Buy
6 Gazprombank Buy Buy
7 Deutsche Bank Buy Buy
8 Bank of America Merrill Lynch Hold Buy
9 J. P. Morgan Hold Buy
10 Wood & Co Hold Buy
11 Goldman Sachs Hold Buy
12 Sberbank Hold Buy
13 Veles Capital Buy Buy
14 Citi Buy Hold
15 HSBC Buy Hold
16 Credit Suisse Buy Hold
17 UBS Buy Hold
18 Morgan Stanley Hold Hold
19 Alfa Bank Under review Under review
20 VTB Capital Under review Under review
Comparative Performance of Rosneft Stocks, Brent prices, MOEX Russia Index, and MICEX Oil and Gas Index in 2020 (base: 100)
Rosneft Stock Price and Trading Volumes at LSE and MOEX