Director/PDMR Shareholding

1

Details of the person discharging managerial responsibilities / person closely associated

b)

Legal person

Reserve Invest (Cyprus) Limited, a financial institution regulated by Cyprus Securities and Exchange Commission license CIF 028/04

2

Reason for the notification

a)

Position/status

Notification concerns PCA with the PDMRs:

Member of the Board of Directors, President of PJSC LUKOIL Vagit Alekperov,

Member of the Board of Directors, Vice President of PJSC LUKOIL Leonid Fedun

b)

Initial notification/Amendment

Amendment to prior notification. The Financial Instrument and Identification Code were incorrectly specified in PDMR notification reference 00033292. Instead of the previously specified information please consider the following as correct: Financial Instrument - "Call option on PJSC "LUKOIL" ordinary shares" and Identification Code - "n/a".

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Public Joint-Stock Company "LUKOIL"

b)

LEI

549300LLCJ1UJXHYBWI24

4

Details of the transaction(s): section to be repeated for (i) each type of instrument;(ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

4.1

a)

Description of the financial instrument, type of instrument

Call option on PJSC "LUKOIL" ordinary shares

Identification code

n/a

b)

Nature of the transaction

Concluded call option for the sale of PJSC "LUKOIL" ordinary shares at strike price

c)

Price(s) and volume(s)

Price(s)

Volume(s)

USD 72.00

37,317

d)

Aggregated information

Price

USD 72.00

Volume

37,317

Total

USD 2,686,824.00

e)

Date of the transaction

2018-01-18

f)

Place of the transaction

Outside a trading venue