Bashneft: Statement of Court Share Ruling – 30 Days to Appeal

Today, the Moscow Commercial Court has upheld the claim of the Prosecutor General’s Office of the Russian Federation for the recovery of JSOC Bashneft’s shares owned by JSFC Sistema and CJSC Sistema-Invest in favor of the Russian Federation.

This ruling has not come into force, and under the Russian legislation, an appeal against it may be filed within a one-month period.

Bashneft seeks to resolve the said dispute as soon as possible, as it could potentially negatively impact the Company’s relations with its counterparties.

Bashneft’s management continues to make the necessary efforts to ensure smooth operation of the Company and strict compliance with its obligations to the state, the Company’s shareholders, partners, employees and all other stakeholders.