Tony Fountain has been appointed to Chair the Board of Essar Oil Limited.

He is also currently the Chair for Sellafield Ltd in the UK. Sellafield is the largest industrial site in the UK with nearly 12,000 employees and the most complicated nuclear site in the world. Its primary roles are completing spent fuel reprocessing for all the UK’s commercial reactors, nuclear material storage and the world’s largest nuclear decommissioning programme. Sellafield is owned by the UK Government and part of the wider Nuclear Decommissioning Authority (NDA) estate.

Tony is also an Independent Director of ATCO Ltd, one of Canada’s major energy companies headquartered in Calgary.

Tony brings 30 plus years of industry experience having held key roles

within BP and more recently having spent four years leading Reliance Industries’ refining and marketing business in India which includes the Jamnagar Refinery.

Tony was CEO of the NDA from 2009 to 2011, responsible for running the UK’s nuclear facilities, leading efficiency drives, and accountable for decommissioning and continued operations.

Tony was with BP for 25 years prior to NDA. His last held role at BP was as Group Vice President, COO, Fuels Value Chains (London).

Tony graduated in Economics and International studies from Warwick University and also holds an MPhil in Economics from Oxford University. He has also attended several Executive Education Programs at Stanford, Harvard and Cambridge.

Tony Fountain

> Chairman of the Board and Non-Executive Director, Essar Oil Limited

Andrew Balgarnie has over 30 years of experience in the energy industry and corporate finance.

He is currently working as Advisor to the CEO of Rosneft Oil Company.Previously he worked for Morgan Stanley for 18 years as an investment banker in New York, London and Moscow. He was also a member of the Executive Committee for the Eurasian Natural Resources Corporation (ENRC) Plc.

He holds a BA Hons from the University of North Carolina, Chapel Hill, USA where he was a Morehead-Cain Scholar.

Andrew Balgarnie

> Non-Executive Director, Essar Oil Limited

> Advisor to the CEO, Rosneft Oil Company

Manoharan Chakrapany has over 39 years of industry experience in refinery commissioning and operations. He is the Director (Refinery) of Essar Oil Limited’s Vadinar Refinery. He started his career as a trainee engineer in 1977 with IOCL Gujarat Refinery in Baroda. He rapidly progressed his career from being a production engineer to Executive Director over the next 29 years. In IOCL he played an important role during the pre-commissioning / commissioning of the first FCC unit in IOCL. He was then identified for monitoring and analysis of the performance of all six of IOCL’s refineries at head office in New Delhi, where he brought about substantial improvement in the system for monitoring and analysis. Mr Chakrapany was also seconded to NNPC (Nigerian National Petroleum Corporation), Nigeria as an operations expert for two years. In 1992, as head of production at

the Gujarat Refinery, he took on the challenging task of commissioning additional process units including India’s first hydrocracker, a hydrogen plant, VDU and SRU. He then moved to the Panipat Refinery where he successfully commissioned the new grass roots refinery at Panipat (IOCL‘s 7th refinery) and thereafter the expansion of the refinery and petrochemical projects, where he was appointed Executive Director. He also has the distinction of being the first Indian on the panel of the National Petrochemical and Refiners Association’s Q&A 2003 session held at New Orleans, USA. Having successfully and positively contributed to India’s largest refineries, he then chose to join Essar Oil Limited as Head of the Refinery in May 2008. In 2012, he was inducted into EOL’s Board as Director (Refinery). Mr Chakrapany graduated with a degree in Chemical Engineer from Calicut University, Kerala, India.

Manoharan Chakrapany

> Director, Vadinar Refinery, Essar Oil Limited

Marcus Cooper is presently working as the General Director for Rosneft Trading SA and is responsible for Rosneft’s international oil & gas trading.

He joined Rosneft in 2013 and has over 20 years of experience in the international energy markets having held senior management positions with Rosneft, BP & TNK-BP in Geneva, Singapore, Chicago, Moscow, London & Rotterdam.

Marcus holds a Masters’ degree in Energy Policy and Environmental Technology from Imperial College London.

Marcus Cooper

> Non-Executive Director, Essar Oil Limited

> General Director, Rosneft Trading SA

Jonathan Kollek joined Trafigura Eurasia LLC in 2013 as President to oversee the expansion of the company’s oil trading business across the region.

Previously Mr Kollek served as Vice President of Sales, Trading & Logistics (STL) at TNK-BP, Russia’s third largest oil company, bought by Rosneft in 2013. He joined the company in 2003 to lead the domestic and international expansion of STL trading activities and promote implementation of best international practices and standards in the Russian market.

Mr. Kollek started his career in the oil department of Marc Rich A.G., (now Glencore International) in London in 1984 and held various positions in London, Singapore and Moscow till 1993 when Mr. Kollek co-established his own trading company.

He holds a B.Sc. in Economic and International Relations from the Hebrew University of Jerusalem, Israel which he graduated in 1984 after serving in the Golani brigade in the IDF.

Jonathan Kollek

> Non-Executive Director, Essar Oil Limited

> President, Trafigura Eurasia LLC

Chin Hwee joined Trafigura in 2016 as CEO, Asia Pacific for the Trafigura Group. He is responsible for continuing the growth of Trafigura’s business across the region.

Chin Hwee has more than 20 years of experience in management and financial roles. Prior to joining Trafigura, he founded the Asian operations of Apollo Global Management, and before that, managing director at hedge fund Amaranth Advisors.

He is a Certified Public Accountant (CPA) and a chartered Financial Analyst and also holds an MBA from Yale University. Chin Hwee was a Young Leader in the World Cities Summit 2014, and one of the Young Global Leaders (YGL) in

the World Economic Forum 2010. Chin Hwee was also awarded the Distinguished Financial Industry Certified Professional (FICP) Award in 2013 by the Singapore government.

Chin Hwee is a member of the advisory panel for the Singapore Maritime Port Authority and the Volunteer Youth Corp Singapore Ministry of Community, Culture and Youth. He is a board member of the Monetary Authority of Singapore’s Financial Centre Advisory Panel, the Singapore Press Holdings Limited. He has also been a trustee of the KKH Health endowment fund since 2012.

Chin Hwee Tan

> Non-Executive Director, Essar Oil Limited

> CEO, Asia Pacific, Trafigura Group Pte Ltd

Alexander Romanov has more than 20 years of rich experience of working in Oil and Gas companies in refining and petrochemical branch.

He is currently Vice President for Refining & Petrochemicals in Rosneft Oil Company. He was earlier CEO of Saratov Oil Refinery and Vice President for operations, Head of Refining and Gas Processing for Alliance Oil Company.

He holds a degree in Chemical Engineering and Economics.

Alexander Romanov

> Non-Executive Director, Essar Oil Limited

> Vice President, Refining & Petrochemicals, Rosneft Oil Company

Elena Sapozhnikova joined UCP Investment Group in 2013 and is now a partner of the company. She has primary responsibility for investor matters and governmental relations, strategic issues and special projects.

Elena has 14 years of legal experience at Freshfields Bruckhaus Deringer and Clifford Chance where she focused on M&A, IPO, project and structured finance and private equity transactions.

Elena serves on a number of boards of directors and is an active speaker at various professional forums.

She holds a bachelor and Juris Doctor equivalent in Law from the Moscow State University (MGU) with honors and a LL.M degree from New York University (NYU) School of Law.

Elena Sapozhnikova

> Non-Executive Director, Essar Oil Limited

> Partner, UCP Investment Group

R. Sudarsan is presently the Executive Director (Inspection) of LIC of India (LIC) based at the company’s corporate office in Mumbai.

R. Sudarsan joined LIC in 1984 as a Direct Recruit officer. He has served in various offices of Central, Western, Eastern and Southern Zones of LIC of India, mostly in IT environment in LIC which has evolved in a big way during the last 17 years with computerisation of all branches and operations, networking, portal and CRM initiatives, where he has been actively involved at all levels. He has served in other assignments such as Personnel and CRM also. He has a Masters Degree in Economics.

Mr Thakkar is a Fellow member of the Institute of Chartered Accountants of India and a practicing Chartered Accountant, with over 56 years’ experience in taxation and foreign exchange regulations. He is a director of a number of public and private companies in India including the board of Essar Oil Ltd since November 1994.

R. Sudarsan

> Nominee Director, LIC of India (LIC)

> Executive Director (Inspection), LIC of India (LIC)

Dilip J Thakkar

> Independent Member of the Board, Essar Oil Limited

Kris has over 35 years’ experience in the Oil, Gas and Power industry. He is currently Executive Vice President in OneLNG, a joint venture between Golar and Schlumberger developing gas fields worldwide. He is also a trustee at the charity Marriage Care.

Prior to that he held the position of Global Head of Strategy and M&A at Rosneft which involved responsibility for a number of major acquisitions including TNK-BP, refineries in Germany and Italy, Itera and Russian upstream assets.

Kris was Vice President of M&A at TNK-BP where he was responsible for numerous acquisitions in Russia, Vietnam and Venezuela.

Kris worked for BP for over 20 years holding a number of posts including Vice President M&A, COO Sidanco and CEO BP Poland.

Other posts in his career included reservoir modelling, upstream, strategy, trading, marketing and retail.

He holds an MSc and BSc in Mathematics and has attended several Executive Education Programs.

Kris Zielicki

> Non-Executive Director, Essar Oil Limited

> Executive Vice President, OneLNG

Mr. K. N. Venkatasubramanian has over 55 years of experience in the oil & gas and petrochemicals sectors having worked for IPCL, Indian Oil Corporation Limited (IOCL) and Gulf Oil Limited. He has previously served as Director, Marketing and Director, Operations of IPCL, Chairman and Managing Director of Engineers India Ltd., Chairman and Managing Director of IOCL and as Chairmanof Gulf Oil Ltd.

He is currently Chairman of Times Technoplast Ltd. He joined the board of Essar Oil Ltd in November 2000. Mr Venkatasubramanian studied chemical engineering at A.C. College of Technology, Chennai and holds a M.Tech from IIT, Kharagpur.

K. N. Venkatasubramanian

> Independent Member of the Board, Essar Oil Limited