Grant of Long-term Incentive Award

Ruspetro plc

30 April 2015

Ruspetro plc ("Ruspetro" or the "Company")

Grant of Long-term Incentive Award

London, 30 April 2015: Ruspetro plc (LSE: RPO) announces that today, 30 April 2015, conditional long-termcash incentive awards (the Awards) over a total of 20,328,800 notional ordinary shares in the Company have been granted to Executive Directors and key senior managers under the terms of the Performance Share Plan (PSP). These awards were approved in principle by the Company's Remuneration Committee on 9 April 2015.

For the avoidance of doubt, no person shall have at any time by virtue of the Awards any interest, conditional or otherwise, in respect to the legal or beneficial ownership of any shares in the Company or any part thereof.

Details of the Awards granted to the Executive Directors are as follows:

1 The PSP awards granted to Alexander Chistyakov and John Conlin on 30 January 2014 did not meet their performance condition and have therefore lapsed.

The total number of notional shares under each Award granted to the Executive Directors has been calculated by reference to an award level amounting to 150% of their salaries. The remaining notional shares of the have been allocated to Awards granted to other employees on the same terms and with the same vesting conditions as those granted to the Executive Directors.

All Awards take the form of "phantom" options which have a notional exercise price of 12.92p, being the average share price for Q4 2014. The actual number of notional shares to which each Award ultimately relates will be dependent upon the Company's share price and proportionate "Vesting" on a straight line basis as set out below:

The share price used to assess performance will be the Company's average share price for Q4 2015. However, in order to fully align the interests of the Awardees with those of our shareholders, the Awardees will not be able to exercise any portion of their resulting award for a further three years (i.e. until at least four years after grant). On exercise, any gain in the notional share options will be payable wholly in cash.

About Ruspetro

Ruspetro plc is an independent oil and gas development and production company, with assets in the Western Siberia region of the Russian Federation. Our mission is to unlock the tight oil reservoirs in our asset base while building a leading regional independent E&P company in a safe and environmentally responsible manner for the long-term benefit of our shareholders.

Enquiries

Ruspetro plc

John Conlin, Chief Executive Officer +44 (0)20 7318 1630

Alexander Betsky, Finance Director +44 (0)20 7318 1630

Finlay Thomson, Investor Relations +44 (0)7976 248471

FTI Consulting

Ben Brewerton, George Parker +44 (0)20 3727 1000