#1ROSNEFT ROSNEFT INVESTOR DAY DOWNSTREAM OIL COMPANY POCHET Didier Casimiro April 23, 2013#2Important Notice The information contained herein has been prepared by the Company. The opinions presented herein are based on general information gathered at the time of writing and are subject to change without notice. The Company relies on information obtained from sources believed to be reliable but does not guarantee its accuracy or completeness. These materials contain statements about future events and expectations that are forward-looking statements. 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 our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. 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None of the Company nor any of its shareholders, directors, officers or employees nor any other person accepts any liability whatsoever for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection therewith. 2#3Downstream highlights 2012: Improving performance along the value chain Rosneft TNK-BP Combined y-o-y y-o-y y-o-y Crude Exports, mln bbls 486 +3.9% 242 -6.6% 728 +0.2% Refining throughput, kb/d 1,231 +6.4% 670 -10.3%² 1,901 -0.1% Refining Cover, % 50% 38% 45% Retail fuel sales, mt 6.8 +4.6% 4.2 +16.1% 11.0 +8.7% Jet Fuel sales³, mt 1.6 +45.5% 1.7 +15.5% 3.3 +28.4% Bitumen Sales³, mt 1.2 +107.8% 1.1 +8.1% 2.3 +43.8% 1 Including share in subsidiaries and equity associates; 2 Refining throughput decreased in 2012 due to shutdown of Linik operations in Ukraine 3 Jet fuel and bitumen sales on the domestic market. 3#4Downstream Russia Combined company will become a leader in all Downstream segments JUK ГАЗПРОМ Market share in Russia, % РОСНЕФТЬ ЛУКОЙЛ Upstream Refining Marketing B2B Trading Products Crude БАШНЕФТЬ CH Other TATNEFT 39% 16% 9% 3% 12% 5% 16% 17% 15% 8% 8% 6% 31% 17% 20% 13% 9% 2% 1% 3% 52% 33% 27% 29% 4% 4% ~0% 2% 45% 17% 6% 3% 15% 5% 10% Key highlights Combined share in oil production will be around 40% • Market share in Marketing is well below potential providing room for growth in the segment . B2B will become a major segment due to the well-developed bunkering business in Rosneft and good central region position of TNK (jet and bitumen) Trading business will be the largest in Russia both in exports and domestic sales#5In Russia combined Refining and Channels have minimum overlap Assets map of united company Rosneft - TNK-BP Refining: THK-BP TEK РОСНЕФТЬ Jet fuel sales: Retail marketing (>10 sites): Lubes: РОСНЕФТЬ THK-BP РОСНЕФТЬ THK-BP TK O Not covered SVO YANOS VKO Lisichansk Tuapse RNPK THK-BP РОСНЕФТЬ РОСНЕФТЬ Samara gr. SNPZ THK-BP Koltsovo Bunkering: РОСНЕФТЬ Achinsk Krasnoyarsk Angarsk Irkutsk Komsomolsk Vladivostok 5 LO#6Combined Trading requires increased optionality and security of monetization via direct contracts and asset participation Rosneft international presence ... Crude export 2012, mtpa JV Ruhr Oel (11,91 mtpa production in 2012) Products export 2012, mtpa Crude fields Primorsk Ust-Luga Ventspils 32 19 Ruhr Oel LOTOS Plock refinery Saras Milk Crude supplies to direct customers via Northern Druzhba 26 Druzhba Mozyr refinery ESPO pipeline Plans for 13 mtpa refinery construction Skovorodino S SARAS Eni Lisichansk Taganrog 15 Novo 13 Tuapse Trading and logistics of Caspian crude, processing at Eni refineries, gas sales from Yamal fields AD CALIK ENERJI JV to process crude oil + 13,7% stake in Saras refinery JV for crude and products trading Supplies to China by ESPO on long- term contracts basis Crude equity in Venezuela Karabobo-2 Junin-6 6.5 bln t reserves 1 Rosneft share - Crude monetization required 15 Vanino Nakhodka 8 8 Kozmino Tyanzhin refinery Production in Vietnam 1.5 mtoe Crude monetization required Lan Tay 6 00 Lan Do#7Conversion LTO 10 Quality Combined Refining: upgrades in Russia will significantly increase margin per BBL Benefits High HSE standards Maximum possible throughput Continuity of operations Refining upgrades program impact in Russia Program Sufficient equity volumes for sales channels development • Excise benefits from production ahead of timeline Defense of domestic sales channels margin Increase of light yields and yields optimization (fiscal regime risks mitigation) OPEX decrease new conversion and treatment capacities are under construction with total capacity of 39 mtpa $25 bln planned investments in upgrades - LTO CAPEX decrease 1 gasoline, diesel, jet fuel Source: Rosneft Refining throughput in Russia, mtpa Light yields1 +63.5% 52 56.0% 92 85 +8.2% 80.0% 2012 7 Rosneft 2013 10 refineries refineries incl. TNK-BP Euro-5 requirements since 2016 Target for 2017 ■ Motor fuels growing demand meeting in Russia and abroad Light yields growth from 56% to 80% Refining gross margin growth from 7.5 $/bbl to 11 $/bbl 7#8Tuapse refinery - a new star is born . Complete refinery overhaul, including: Capacity expansion from 5 to 12 mtpa Target light products yield of 90% (10.6 mln t) NCI=8 $4.8 bln out of $8.2 bln invested as of today Refining margin as high as $25 per bbl Flexibility between exports and domestic sales Outstanding cost efficiency after upgrade: 5 year run life Siemens gas turbine power units New technologies in water supply, refrigerating and drainage with min losses Atmospheric-vacuum distillation unit Tar Straight-run gasoline Diesel fuel Vacuum gas oil Isomerization Hydrogen production Flexicoking Reforming Hydrotreatment of gasoline Hydrogen sulphide Hydrotreatment of diesel Sulfur production Hydrocracking of vacuum gas oil Coke Gasoline Naphtha Sulfur Diesel fuel Jet fuel 8#9Combined Retail: growing network with leading brands across Russia Rosneft retail presence in Russia by brand РОСНЕФТЬ THK РОСНЕФТЬ РОСНЕФТЬ THK-BP KO РОСНЕФТЬ Rosneft TNK-BP Combined Gas stations in Russia* 1,645 798 2,443 THK-BP Throughput per station*, t/day 11.8 14.6 12.7 Sales*, mtpa 6.8 4.2 11.0 bp • 3 leading retail brands covering main customer segments (from premium to popular) Opportunity to optimize country-wide logistics of the merged company • Post-merger market share limitations imposed by FAS affect only a limited number of regions, minimal divestments required for compliance New opportunities for expanding presence in core markets of St. Petersburg, south of Russia and Volga regions 9#10Combined B2B: Rosneft becomes the leader in B2B segment Map of Rosneft B2B assets Lisichansk SVOYANOS VKO Moscow m RNPK SNPZ Samara gr. ☑Koltsovo Achinsk ✓ Krasnoyarsk Refinery Lubricants production units Angarsk Irkutsk Jet fuel sales Bunkering Komsomolsk Vladivostok · • Key highlights Jet fuel • Strategic position secured in Moscow air hub Expanded network coverage in Russia and CIS • Optimization of assets and CAPEX programs (fuelling complexes in airports) • "Best of both" sales machines and “offers" to airlines • Lubes • Motor and industrial lubes expansion Premium packaged lubes sales in Russia and CIS Bitumen • Access to core demand markets in Central and South Russia • Quality improvement programs (e.g. polymer- modified bitumen) Bunkering • Presence in all key ports of Russia (East, West, South) • High margin channel for fuel oil monetization 10#11Downstream TNK BP integration synergies will come from all the segments Refining Harmonization of refineries investment program (greenfield development plans review, optimization of planned units capacities) Optimization of existing units loads G&A expenses reduction through centralization and unification Procurement unification "Best of both" principle effect (turnarounds, benchmarking, energy efficiency, etc) Trading and Logistics Combined sales flows optimization to the most profitable channels Diversification and increased number of alternatives in trading (increased optionality) New scale and cover advantage (East and West routes, international) Sizeable player on the global market РОСНЕФТЬ THK-BP THK bp Retail Logistics and supply chain optimization (e.g. lower third party purchasing, netting of flows) Higher utilization of logistics facilities (depots, trucks) G&A expenses reduction due to centralization and unification of standards (including IT platforms, marketing spend, category management, etc.) B2B Network expansion of Jet "In Wing" business Bunkering fuel supply optimization Increase of bitumen sales through "Best of Both" channels (focusing on regions of high demand - Moscow, South) 11#12Synergy example: Product logistics optimization within combined company may provide up to $30-60 mln EBITDA Map of logistic synergies Refining Ports Airports Transshipment terminal Arkhangelsk owned by Rosneft 5 To Ventspils 2 YANOS Tuapse refinery Tuapse port Ryazan 1 refinery 2 8 1 1 7 NNPO Samara refineries Koltsovo airport Saratov refinery 6 Achinsk refinery 7 Angarsk refinery 8 Description of logistic synergies 1 Naphtha from NNPO and RNPK to Tuapse and from Samara refineries to Ventspils 2 Motor fuel from YANOS/RNPK to North- West region and from SNPZ to Kuban and Stavropol 3 Geographical fuel oil swaps (RNPK, YANOS, SNPZ, Samara) in the domestic market Organization of the navigation for the Samara refineries 5 Increase o Arkhangelsk transshipment terminal utilization using 3-d party recourses 6 The substitution of 50% third-party resources in Koltsovo by supplies from Achinsk 7 Supplies of TNK standard lubes from Angarsk and Samara refineries 8 Logistic optimization of propylene/propane-propylene fraction supply Total additional EBITDA $30-60 mln 12#13Special focus of integration – reinforcing existing and building new capabilities · "Best of both" principle in selecting people People • New efficient organizational structures Processes Updated efficient processes and operating models (e.g. planning, performance management, investments) • "Best of both" practices • More responsibility and accountability Culture • Result (EBITDA) oriented 13#14Thank you for your attention! 14