ENERGY FOR PEOPLE - JSC Gazprom Neft

TO SHAREHOLDERSAND INVESTORSEnergy for lifeENERGY FOR PEOPLEDIVIDEND HISTORYThe dividend policy of JSC GazpromNeft is based on protection of theshareholders’ interests, maintainingthe balance of interest between theCompany and its shareholders andintended to improve welfare of theCompany shareholders.The main principles of the Companydividend policy are:AAObservance of the effective legislationregulations of the Russian Federation,the Articles of Association and theCompany bylaws;AACommitment to high standards ofcorporate governance;AAImprovement of the Companyinvestment potential;AAEnsuring maximum transparencyof the mechanism to determine theamount of dividends;AAEnsuring positive changes in thedividend payments provided that theCompany net profit increases;AACommitment to providing a mostconvenient way to receive dividendsto the shareholders;AACommitment to paying dividendswithin a short time span.To ensure the greatest transparencyof the dividend allocation mechanismand procedure for its payment, JSCGazprom Neft stated its dividend policythat it had been implementing in recentyears, in the Provision on DividendPolicy approved in January 2010.In the Provision the Company fixeda minimum amount of annual dividendsfor shares - 15% of the Company netprofit, calculated pursuant to the USGAAP.The resolution of the Annual GeneralShareholders’ Meeting of the Company,dated June 22, 2009, established thetotal amount of accrued dividends forthe 2008 financial year at 25 603 018050.60 rubles: the dividend amount percommon share was set at 5.40 rubles.The right to receive dividends isgranted to all shareholders of recordas of the date of compiling the list ofshareholders entitled to participate inthe General Shareholders’ Meeting, atwhich the resolution to pay dividendswas adopted. The registration datefor holders of Company ADRs is setseparately by the depository bank,which is The Bank of New York.Dividend payment period – by May 31of the year following the year in whichthe resolution to pay dividends wasadopted.Dividend History:PERIOD 2005 2006 2007 2008Dividend per share (rub.): 7,90 8,0822 5,40 5,40Total dividend per class of shares (rub.): 37 456 227 806 38 320 131 942 25 603 018 051 25 603 018 051as % of US GAAP net income 47,21 38,50 24,16 22,11Name of the issuer’s governing body whichadopted the resolution to pay dividends:Date of the meeting of the issuer’s governingbody at which the resolution to pay dividendswas adopted, date and No. of the Minutes:GeneralShareholders’Meeting22.06.2006Minutes № 40 of29.06.2006GeneralShareholders’Meeting22.06.2007Minutes № 40 of27.06.2007GeneralShareholders’Meeting20.06.2008Minutes № 45 of30.06.2008GeneralShareholders’Meeting22.06.2009Minutes № 47 of03.07.2009Dividend payment period: By 31.05.07 By 31.05.08 By 31.05.2009 By 31.05.2010Method of payment and other terms: In cash In cash In cash In cashDividends were not paid to the shareholders who failed to provide the data required for dividend transfer under cl.5 of Article 44 of Federal Law № 208-FZ “On JointStock Companies”, dated 26.12.1995. Dividends accrued on shares of unidentified holders are paid as the shareholders’ rights to their securities are established.134