51QM Lukoil Int. 26a

TIDM51QM

RNS Number : 5269V

LUKOIL International Finance B.V.

05 April 2023

NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN ANY JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS DOCUMENT.

THIS ANNOUNCEMENT IS IMPORTANT AND REQUIRES IMMEDIATE ATTENTION OF HOLDERS. IF HOLDERS ARE IN ANY DOUBT AS TO THE ACTION THEY SHOULD TAKE, THEY SHOULD IMMEDIATELY CONSULT THEIR OWN INDEPENDENT PROFESSIONAL ADVISERS.

THIS ANNOUNCEMENT CONTAINS IMPORTANT INFORMATION THAT IS OF INTEREST TO THE REGISTERED AND BENEFICIAL OWNERS OF THE NOTES. IF APPLICABLE, ALL DEPOSITORIES, CUSTODIANS AND OTHER INTERMEDIARIES RECEIVING THIS ANNOUNCEMENT ARE REQUIRED TO EXPEDITE TRANSMISSION HEREOF TO BENEFICIAL OWNERS OF THE NOTES IN A TIMELY MANNER. IF HOLDERS OR BENEFICIAL OWNERS OF THE NOTES ARE IN ANY DOUBT AS TO THE MATTERS REFERRED TO IN THIS ANNOUNCEMENT, THEY SHOULD CONSULT THEIR STOCKBROKER, LAWYER, ACCOUNTANT OR OTHER PROFESSIONAL ADVISER WITHOUT DELAY.

IMPORTANT ANNOUNCEMENT TO NOTEHOLDERS

LUKOIL INTERNATIONAL FINANCE B.V. (THE "ISSUER")

U.S.$1,000,000,000 4.750 per cent. Notes due 2026 issued by the Issuer and guaranteed by PJSC Lukoil ("Lukoil") (Regulation S ISIN: XS1514045886; Regulation S Common Code: 151404588; Rule 144 ISIN: US549876AL44; CUSIP: 549876 AL4)

(the "Notes")

5 April 2023

On 2 May 2023, the Issuer is due to make a scheduled coupon payment (the "May 2023 Payment").

Having regard to the above, the Issuer hereby informs the Noteholders that, in light of the ongoing disruption of the clearing and settlement infrastructure, to the best of the Issuer's and Lukoil's knowledge, some of the previous payments under the Notes made by or on behalf of the Issuer to Citibank, N.A., London Branch, acting as a principal paying agent with respect to the Notes (the "Principal Paying Agent") which then transferred payments onward to the relevant clearing systems (the "Clearing Systems") for further distribution to the Noteholders have not been properly processed by the Clearing Systems and distributed to the Noteholders.

Although the Issuer has taken all reasonable action to engage with the Principal Paying Agent and the Clearing Systems to seek necessary clarifications with a view to resolve the above situation to the satisfaction of all parties concerned and ensure that the rights of the relevant Noteholders are not prejudiced, it is the Issuer's understanding that the affected payments have still not reached the relevant Noteholders for the reasons beyond Lukoil's and/or the Issuer's control. Furthermore, despite enquiries having been sent to the parties concerned, the Issuer has not received any official response to date from the Clearing Systems, including if and when the relevant payments are expected to be processed.

In light of the upcoming coupon payment, the Issuer is deeply concerned that any funds remitted to the Principal Paying Agent for onward distribution to the Clearing Systems may not reach the Noteholders and such Noteholders could face issues with receiving payments under the Notes in time or at all. Today Lukoil made another enquiry to the Principal Paying Agent and the Clearing Systems requesting an update on the status of November 2022 coupon payments and information on if and when the Clearing Systems will effect these payments.

For the avoidance of doubt, nothing contained herein shall constitute repudiation or avoidance of the Issuer's or Lukoil's payment obligations under the Notes.

The distribution of this announcement in certain jurisdictions may be restricted by law. Persons into whose possession this announcement comes are required by Lukoil and the Issuer to inform themselves about, and to observe, any such restrictions.

This announcement contains important information which should be read carefully. If any Noteholder is in any doubt as to the action it should take or is unsure of this announcement, it is recommended to seek its own financial advice, including in respect of any legal and/or tax consequences of utilizing the Direct Payment Option, immediately from its stockbroker, bank manager, solicitor, accountant or other independent financial or legal adviser.

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END

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(END) Dow Jones Newswires

April 05, 2023 10:47 ET (14:47 GMT)

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