Disclaimer

This Annual Report is based on the information available
to the Public Joint-Stock Company Gazprom Neft and its subsidiaries
(“Gazprom Neft”) as at the report date.

This Annual Report contains forward-looking statements that represent the expectations of the Company’s management. The forward-looking statements are not based on actual circumstances and include all statements pertaining to the Company’s intentions, opinions or current expectations with regard to its performance, financial position, liquidity, growth prospects, strategy and the industry in which Gazprom Neft operates. By their nature, such forward-looking statements are subject to inherent risks and uncertainties, as they relate to events and depend on circumstances that may or may not occur in the future.

Such words as “assume”, “believe”, “expect”, “forecast”, “intend”, “plan”, “a project”, “consider”, “might” and other similar or equivalent words and phrases as well as their use with negations generally indicate a forward-looking statement. These assumptions are subject to risks and uncertainties both expected and unforeseeable by the Company. Therefore, future performance may differ from current expectations, and the recipients of the information contained herein should not use it as a sole basis for their assumptions.

Apart from the official information on the Gazprom Neft activities, this Annual Report contains information obtained from third parties and the sources which Gazprom Neft deems reliable. Nevertheless, the Company does not guarantee the accuracy of this information as it may be condensed or incomplete. Gazprom Neft does not provide any guarantees that the actual results, scale and performance indicators of the Company’s operations or those of the industry in which the Company operates will be consistent with the results, scale and performance indicators expressly stated or implied in any forward-looking statements contained herein or otherwise. Gazprom Neft shall bear no responsibility for any losses that may be incurred by anyone due to the fact that such a person relied on the forward-looking statements. Except as expressly required by applicable law, the Company assumes no obligation to distribute or publish any updates or revisions to the forward-looking statements to reflect any changes in expectations or new information, as well as subsequent events, conditions or circumstances.