Doc re LUKOIL International Finance B V Prospectus

LUKOIL International Finance B.V.

31 October 2016

Not for release, distribution or publication, directly or indirectly, into or in the United States of America, Russian Federation, Australia, Canada or Japan.

PJSC "LUKOIL": USD 1.0 billion of Eurobonds due 2026: Publication of Prospectus

The following prospectus was approved by the UK Financial Conduct Authority on 31 October 2016:

Prospectus relating to U.S.$1.0 billion 4.750% Notes due 2026 issued by LUKOIL International Finance B.V. with the guarantee of PJSC "LUKOIL".

A copy of the Prospectus has been submitted to the National Storage Mechanism and will shortly be available for inspection at www.morningstar.co.uk/uk/NSM.

In addition, copies of the Prospectus will shortly be available for inspection at LUKOIL International Finance B.V.'s head office at WTC Tower D, Level 9, Strawinskylaan 963, 1077 XX Amsterdam, The Netherlands.

This announcement does not constitute an offer for sale or a solicitation of any offer to buy any securities of PJSC "LUKOIL" or LUKOIL International Finance B.V. in the United States of America, Russian Federation, Australia, Canada or Japan or in any other jurisdiction where such offer or sale would be unlawful.

This announcement is being issued outside the United States pursuant to and in accordance with Rule 135e under the U.S. Securities Act of 1933, as amended (the "Securities Act"). This announcement shall not constitute or form a part of any offer of, or solicitation to purchase or subscribe for, the notes, nor shall there be any sale of the notes in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. The notes have not been, and will not be, registered under the Securities Act and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as such term is defined in Regulation S under the Securities Act), except pursuant to an exemption from the registration requirements of the Securities Act. No public offering of securities will be made in the United States or in any other jurisdiction where such an offering is restricted or prohibited. A copy of this announcement may be provided to a "qualified institutional buyer" (as such term is defined in the Securities Act) on an individual basis.

This announcement is directed only at persons who (i) are outside the United Kingdom or (ii) have professional experience in matters relating to investments falling within article 19(5) of the financial services and markets act 2000 (financial promotion) order 2005 (the "order") or (iii) are persons falling within article 49(2)(a) to (d) ("high net worth companies, unincorporated associations etc") of the order or (iv) to whom this announcement may otherwise be directed without contravention of section 21 of the financial services and markets act 2000 (all such persons together being referred to as "relevant persons"). This announcement must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this announcement relates is available only to relevant persons and will be engaged in only with relevant persons.

In member states of the European Economic Area, this announcement is directed only at persons who are "qualified investors" within the meaning of article 2(1)(e) of Directive 2003/71/EC (the "Prospectus Directive"). This announcement is an advertisement for the purposes of applicable measures implementing the Prospectus Directive.

This announcement or information contained therein is not an offer, or an invitation to make offers, to sell, exchange or otherwise transfer securities in the Russian Federation to or for the benefit of any Russian person or entity and does not constitute an advertisement or offering of securities in the Russian Federation within the meaning of Russian securities laws. Information contained herein must not be distributed or circulated into Russia or made available in Russia to any persons, unless and to the extent otherwise permitted under Russian law. The securities have not been and will not be registered in Russia and are not intended for "placement" or "circulation" in Russia (each as defined in Russian securities laws) unless and to the extent otherwise permitted under Russian law.