Rosneft – the Leader of the Russian Oil Industry

Post-IPO Dynamics (2006-2011)

Reserve replacement Well above the industry average Discovery of major fields in East Siberia

187%

Output growth Crude oil output CAGR

+8%

Cost control Reduction of lifting costs per barrel in real terms -25%

Sustainable dividend growth Annual dividend increase

+20%

Debt reduction Reduction of Net Debt to EBITDA ratio from 1.8x to 0.7x -60%

Implementation of flagship projects Launch of the Vankor field Effective development of the Yuganskneftegaz fields

1

1

1.5

2

2.5

5 10 15

Among Global Energy Leaders

Reserves (SEC), bln boe

Production, mln boe per day

2

Production, mln bbls per day

Reserves (SEC), bln bbls

Hydrocarbons Crude oil

22.0

7.3

14.5

17.1

13.6

19.2

22%

29%25% 29% 31%

24%

2006 2007 2008 2009 2010 2011

Financial Results since IPO

3

Adjusted net income, USD bln

3.5

6.5

10.5

6.5

10.4

2006 2007 2008 2009 2010 2011

12.5

EBITDA (USD bln) and EBITDA margin (%)

-1.8

1.9

5.6

3.4

5.8

2006 2007 2008 2009 2010 2011

Financial Results since IPO

2.3

4

Free Cash Flow, USD bln Net Debt (USD bln) and Net Debt to EBITDA

13.3

26.3

21.3

18.5

13.7

1.8

1.8

1.21.4

0.7

2006 2007 2008 2009 2010 2011

15.9

0.7

Strategic Vision

Rosneft – global energy company providing consistently high returns to shareholders through:

increased efficiency

development and application of innovative technologies

sustainable growth

5

Key Priorities

6

2 Development of gas business

1 Effective development of the existing reserves

3 Conversion of resources into proved reserves, including early start of full-scale offshore exploration

4 Access to technological and managerial expertise through participation in international projects

5 Refinery upgrades to comply with State regulations for motor fuel and development of petrochemical business

6 Development of marketing segment

7 Introduction of a modern management model with special focus on HSE and innovations

Proved Probable Possible Resources Total

Strong Reserve Base

bln boe as at December 31, 2011 (PRMS)

Reserve life, years

23.4 23.4

25

35.2

37

11.7

44.8

48

9.7

251

266

206

251

7

2.5 3.0

3.7

Effective Development of the Existing Reserves Sustainable Hydrocarbon Production Growth

2020 2015 2010

Gas projects

Existing oil assets

Exploration projects and acquisitions

Production, mln boe per day

Note: the output forecast assumes oil price of $90 per barrel in real terms and a favorable tax regime.

+4% CAGR

8

1

Effective Development of the Existing Reserves Production Growth Until 2020 is Secured by Existing Reserves

Priobskoye

Kharampur

Prirazlomnoye

Vankor

Malobalykskoye

Mamontovskoye

Kynsko-Chaselskaya group

Komsomolskoye

Verknechonskoye

Tarasovskoye

Yurubcheno-Tokhomskoye

1.0

3.0

0.7

1.0 1.0

0.1

0.1

0.3

0.3

Developed

3.3

Undeveloped

2.5 0.9

0.8 0.5

0.4 0.2 0.3

0.3 0.1

Proved reserves, bln boe

of total proved reserves of Rosneft 72%

7.5 bln boe

9.3 bln boe

9

1

+

Moscow Vankor

Vankor: Unique Experience in Implementing a Large-Scale Project

Proved reserves 1.8 bln boe 3P reserves 4.1 bln boe Unique flow rates 3,500 bpd Extremely tight schedule in a harsh climate (-49 F during winter) 6 years from obtaining the license Advanced drilling, construction, environmental protection technologies Investments USD 8 per bbl of accumulated production Tax incentives Special export duty rate, mineral extraction tax holidays

70

255300

360

545590

2009 2010 2011 2012 2013 2014

Hydrocarbon output ‘000 boe per day

10

2 Development of Gas Business

Share of gas in reserves and production

Share of gas in proved reserves

21%

Share of gas in production

8%

2010 2020

Gas output, bcm

45-55

12

Natural gas Kharampur and Kynsko-Chaselskaya group

Associated petroleum gas

11

3 Conversion of Resources into Proved Reserves

Arctic region

East Siberia

Russia’s southern Seas

206 bln boe

92%

Converting the resource base into proved reserves will ensure production growth beyond 2020

12

Far East of Russia

Other

3 Currently operating 29 offshore projects Total recoverable resources – 190 bn boe 20 new licence applications filed Total recoverable resources for prospective blocks – 212 bn boe Over 80% of resources are located in the Arctic and sub-Arctic

Differentiated Mineral Extraction Tax rates Zero crude export duty Guaranteed fiscal regime stability Other tax benefits

Securing Large Scale Offshore Presence

Fedynskiy

Perseevskiy

North-Karskiy

West-Prinovozemelskiy

East- Prinovozemelskiy 1, 2, 3

Ust- Olenekskiy

Ust-Lenskiy

Medynsko- Varandeiskiy

South-Russkiy

Partner

Partner

Partner

Anisinsko- Novosibirskiy

East-Sibirskiy South-

Chukotskiy

North-Vrangelevskiy-1

North-Vrangelevskiy-2

Magadan-2 Magadan-3

Kaygansko-Vasyukanskiy

Аstrakhan Sea-Nekrasovskiy North Chaivo Sakhalin-1

Partner

Gudautskiy South-Chernomorskiy

Tuapse Trough

West- Chernomorskiy

Temryuksko- Akhtarskiy

Kurganskiy

Partner

Partner

Western Arctic

Southern Seas

Easterm Arctic and the Sea of

Okhotsk 7.1 16

10.9 11

26.0 167

14.8 23

2.4 10

1.2 2

22.4 64

9.7 47

9.1 141

48.3 264

32.8 46

22.4 69

5.4 73

Magadan-1 6.3 19

2.8 11 7.5 17

Lisyanskiy 3.2 35

Kashevarovskiy 0.8 25

0.9 2

3.7 7

0.2 0.2

0.1 5

0.1 1

8.9 12

9.9 9

3.4 7 0.5 4

1.9 9 North-Kaspiyskiy

Licence Areas: Rosneft Prospective (filed for licence)

Area, th. km2 Total Reserves and Resources (bln boe)

18.7 38

84.3 126

Central- Barentsevskiy

13

5 Refineries Upgrade

Rosneft total, mln t 2010 2016

Throughputs 51 75

Light product yield 29 60

Rosneft in Germany, mln t

2010 2016

Throughputs - 11 Light product yield, including petrochemicals

- 10

Rosneft in Russia, mln t

2010 2016

Throughputs 51 58 Light product yield 29 44

Rosneft in China, mln t

2010 2016

Throughputs - 6.4 Light product yield - 5.6

14

Russia

2010 2020Other

Monoethyleneglycol

Polypropylene

Polyethylene

3.9

0.5

China

Expansion of Angarsk Polymer Plant Expansion of pyrolysis unit from

200,000 to 450,000 tonne of ethylene per year

350,000 tonne polyethylene facility – the largest in Russia

Eastern Petrochemical Plant Capacity – 3.5 mln tonne World’s largest pyrolysis facility Plant to produce mostly polymers

Production of petrochemicals in Russia, mln t

15

х8

Development of Petrochemical Business 5

Ensuring that industrial and environmental safety corresponds to the latest international standards (OHSAS 18001 and ISO 14001) and best practice

Focus on preventing pipeline accidents and

eliminating any environmental risks related to spills of oil or petroleum products Sustained reduction in emissions

Safe waste disposal and land rehabilitation Increasing associated petroleum gas

utilization to 95% Enhancing environmental characteristics of

petroleum products by switching to Euro-5

Industrial and Environmental Safety Priorities

16

The Arctic Research Center (ARC)

17

ARC Objectives:

Design and interpretation of the exploration activities

Design of field development and surface facilities construction

R&D, engineering, adaptation and implementation of new technologies

Expert review, standardization and regulatory compliance of offshore projects

Environmental expert review, control, and environmental impact assessment of offshore operations

Monitoring and emergency prevention

KEY TECHNOLOGIES FOR SHELF DEVELOPMENT

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.