New Age of PetroleumPresentation by Igor Sechin�President, Rosneft oil company CERA Week 2013

March, 2013

Important 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. We assume no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.

This presentation does not constitute an offer or invitation to sell, or any solicitation of any offer to subscribe for or purchase any securities and nothing contained herein shall form the basis of any contract or commitment whatsoever. No reliance may be placed for any purposes whatsoever on the information contained in this presentation or on its completeness, accuracy or fairness. The information in this presentation is subject to verification, completion and change. The contents of this presentation have not been verified by the Company. Accordingly, no representation or warranty, express or implied, is made or given by or on behalf of the Company or any of its shareholders, directors, officers or employees or any other person as to the accuracy, completeness or fairness of the information or opinions contained in this presentation. 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.

New Age of PetroleumPresentation by Igor Sechin�President, Rosneft oil company

2

Global petroleum industry requires advanced technologies to meet growing demand

Source : IHS Herold, IHS CERA, Platts.

$/BOE$/bbl

Brent

120

100

80

60

40

20

0

Growth of finding and development costs by exploration and oil price Global oil and gas consumption will grow

MMboe/day

103

gasoil

109121

135144

157169

179191

204

3

Source: IHS Herold. Transactions over $ 20 billion.

$ bln

+ТNK-BP

57

91

39

63

45

31

20

3241

21

56

21

36

BP A

moc

o

Exxo

n M

obil

BP A

RCO

Tota

l Elf

Aqui

tain

e

Chev

ron

Texa

co

Cono

co P

hillip

s

Chev

ron

Unoc

al

Cono

coPh

illips

Bu

rling

ton

Stat

oil H

ydro

Exxo

nMob

il XT

O

Sunc

orPe

troCa

nada

CNOO

CN

exen

1998 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 20121999

Acquisition of TNK-BP opens new wave of industry consolidation

Major transactions in global oil and gas industry

Сash considerationEquity consideration 4

High efficiency exploration

Major public companies exploration efficiency

Note: Exploration results onlySource: IHS Herold.

5

10

15

20

25

30

350 50 100 150 200 250

2009-2011 average Reserve Replacement Rate of oil and gas (SEC), %

Industry Average

2009

-201

1 av

erag

e Fi

ndin

g &

Deve

lopm

ent C

osts

(SEC

), $/

boe

0

5

Exploration and Production

•New methods of geophysical research¤(microseismics, monitoring wells by fiber-optic systems)

•Technology of development and exploitation of carbonate-clay-siliceous reservoirs of Bazhenov formation

•Localization of oil reserves in low-permeability reservoirs

•Development of low-permeability oil reservoirs using horizontal wells with longitudinal and transverse fracture

Scientific potential

•Over 650¤employees¤with PhD¤and doctoral degree

•11 engineering institutes

•Arctic Research and Development Centre for offshore exploration and development

•United Research and Development Centre — modern development centre in the field of gas and petrochemical industry

Refining and Marketing

•Gas-to-Liquids technology development

•Preparation of natural and associated gas by supersonic¤gas separation technology

•Composite material based on polydicyclopentadiene

Technology development is our priority

6

0 10 20 30 40 50 60

Vankor — the biggest new project in post-soviet Russia

•The biggest oil & gas project in Russia for the last 20 years

•Reserves (3Р) — 3.9 bln boe•Production — 400 Mbpd

•The project becomes the center of a new oil province

•Satellite fields reserves: 2.7 bln boe (3P), significant exploration potential

SEVERO-CHARSKIY

PENDOMAYAKHSKIY

VADINSKIY

VANKOR PL.

NORTH VANKOR BLOCK

TUKOLANDSKIY

ZAPADNO-LODOCHNIY

Rosneft

Oil pipelinesGas pipelinesPlanned pipelines

VOSTOCHNO-LODOCHNIYLODOCHNOE

САМОЕДСКИЙ УЧ.БАЙКАЛОВСКОЕ

БАЙКАЛОВСКИЙ УЧ.

ЯМАЛО-НЕНЕЦКИЙ АВТОНОМНЫЙ ОКРУГ

NORILSK

КРАСНОЯРСКИЙ КРАЙ

7

0 10 20 30 40 50 60

Successful development of the Sakhalin shelf

Sakhalin-1 is the largest operating offshore project in Russia

The record-long ERD well with total distance of 12 km, drilled by theunique onshore drilling rig — Yastreb

Astrakhanovskoe-more-Nekrasovskiy

Veninsky

Chayvo

Sakh

alin

Isla

nd

Arkutun-Dagi

gas

oil

Lebedinskiy North Odoptu

Odoptu

Sakhalin - 5

Sakhalin - 1

Sakhalin - 3

Kaigansko-Vasyukansky

Rosneft’s production profile on Sakhalin*

Mbo

epd

2005 2006 2007 2008 2009 2010 2011 2012

350

300

250

200

150

100

50

0

* Sakhalinmorneftegaz + 100% of Sakhalin-1 project.

7 467 m

•Satellite fields reserves: 2.7 bln boe (3P), significant exploration potential

8

Rosneft holds the largest license portfolio on the Russian offshore

Diversified Portfolio of Assets

•41 licenses for exploration and production on the shelf of the Russian Federation•Recoverable resources – 275 bln boe•Exploration program – drilling of 96 wells

Strategic cooperation with ExxonMobil, Eni, Statoil

•Exploration financed by the partners •Exchange of technologies, staff, and best practices•Carry investment by partners within the initial exploration phase

for at least $14 billion

Total RecoverableResources, bln BOE

47 bln BOE

103 bln BOE

23.3 bln BOE

30 bln BOE

71 bln BOE

275 bln BOE

Black, Azov and Caspian Seas

Okhotsk Sea

Barents Sea

Kara Sea

East Siberian, Chukchi and Laptev Seas

oil gas

oil gas

oil gas

oil gas

oil gas

oil gas

9

Rosneft has already started full-scale operations in the Arctic

Drilling success will open a new oil province in the Russian Arctic offshore

•5300 km of 2D seismic and 3800 sq km of 3D seismic were performed in 2012

•Universitetskaya structure selected for first wildcat drilling, scheduled for 2014

•Well depth – 2 500 m, sea depth – 80 m

•Semi-submersible drilling rig contracted

KARA SEANOVAYA ZEMLYA

10

0 10 20 30 40 50 60

Russian offshore to meet rising global LNG demand

Global LNG demand, million tons

America-10%

World

Asia

Europe+12%

Source: Wood Mackenzie.

+93%

2010 2020

2010 2020

2010 2020

2010 2020

+62%

LNG ProducersExistingDevelopingPossible

LNG ConsumersExistingDeveloping

САМОЕДСКИЙ УЧ.

11

0

50

100

150

200

250

300

0 50 100 150

Production time, daysLi

quid

flow

rat

e, m

3 /da

y

Horizontal well with multistage hydrofracturingVertical well with traditional hydro-fracturing

Technology Applied by Yuganskneftegaz Demonstrates 3.5 times Higher�Production Rate

Bazhenov formation has comparable properties �to U.S. shales and is likely to reach comparable recovery

Bazhenov formation resources alone are about 40% of U.S. shale oil by amount

•Rosneft has successful experience in the development of low-permeability reservoirs

•Implementation of the technology of horizontal wells with multistage hydrofracturing at the oil fields in YuganskU.S. shales

Bazhenov formation

Eagle Fordformation

Bazhenovformation

Average depth, m 3 000-3 500 2 700-3 100

Reservoir thickness

Permeability

Porosity

Recovery ratio

30

0,5 mD

7%

<10%

20-30

<1 mD

2-6%

?

0 10 20 30 40 50 60

Recoverable resources, billion barrels

New production growth from development of tight oil in Russia

22

50

12

Tax and export duties incentives

New tax policy provides incentives for developing new categories of reserves

•The state made a strategic decision on provision of incentives for development of new reserves categories: offshore, tight oil and Eastern Siberia region

•Tax initiatives enabled profitable development of new categories of reserves and formation of new oil and gas production provinces

•Unprecedented high level of investments and balanced local content policy create the unique opportunity for the global leaders of the service industry and equipment manufacturing to enter the new promising market

Source: Ministry of Energy of Russian Federation.

Bazhenov formation

Export duty Mineral extraction tax (MET) Revenue net of MET and export duty

New fields Sakhalin

Current taxationsystem

Crude Oil ¤price ($/bbl) Hard-to-recover

reservesEast Siberia Continental shelf

Kara Sea

+20+47 +54 +64

13

Reserves, billion boe

1999

2012

2013

Prod

uctio

n, m

illion

boe

pdAcquisition of TNK-BP makes Rosneft �the largest public oil and gas company in the world

Reserves and production of oil and gas in 2012

+

Source: Companies’ data. Note: Including oil, gas condensate and bituminous sands. Reserves are presented by SEC classification.

0.0

0.5

1.0

1.5

2.0

2.5

3.0

3.5

4.0

4.5

5.0

0 5 10 15 20 25 30

14

Joint use of infrastructure

•New fields in Krasnoyarsk region (including use of infrastructure of Vankor field)

•Verkhnechonskoe field and assets in Irkutsk region

Logistics, Trade and Sales

• Optimizing logistics of crude and oil product supplies; swap operations

Optimizing Expenses

•Consolidated procurement on tender basis

•Reduction of overheads

•Simplifying the structure and scheme of ownership

Gas

• Consolidation of natural gas sales efforts

• Coordination of development of gas assets of Rosneft, TNK-BP (Rospan) and Itera in Yamal-Nenets region

Combined synergies to exceed 10 billion dollars

Sources of synergies in TNK-ВР acquisition

0 10 20 30 40 50 60

15

•Delivery on existing strategic partnerships and creating new ones – offshore, hard-to-recover oil, gas, downstream

•Technological partnerships with service companies

•Joint work on harmonization of regulatory and tax environment

•Long-term supply contracts, �participation in infrastructure development

•Asset exchanges with global players

New Rosneft – new opportunities

0 10 20 30 40 50 60

16

The future is defined today

Thank you for yourkind attention!