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

PCA of 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

Initial notification

3

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

a)

Name

PJSC LUKOIL

b)

LEI

n/a

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

PJSC LUKOIL ADRs

Identification code

US69343P1057

b)

Nature of the transaction

Purchase

c)

Price(s) and volume(s)

Price(s)

Volume(s)

USD 48.82

2,030

USD 48.84

1,668

d)

Aggregated information

Price

USD 48.827

Volume

3,698

Total

USD 180,561.38

e)

Date of the transaction

2016-10-31

f)

Place of the transaction

BATS Chi-X Europe (CHIX)

4.2

a)

Description of the financial instrument, type of instrument

PJSC LUKOIL ADRs

Identification code

US69343P1057

b)

Nature of the transaction

Purchase

c)

Price(s) and volume(s)

Price(s)

Volume(s)

USD 48.82

2,970

USD 48.84

3,332

d)

Aggregated information

Price

USD 48.828

Volume

6,302

Total

USD 307,713.62

e)

Date of the transaction

2016-10-31

f)

Place of the transaction

London Stock Exchange (XLON)