5 May 2022

PJSC LUKOIL

(the "Company")

NOTICE OF CANCELLATION OF LISTING ON THE OFFICIAL LIST

The Company announces that it has sent notices to request the cancellation of:

(1)       the listing of the Company's American depositary receipts with ISIN US69343P1057 on the Official List;

(2)     the admission to trading on the London Stock Exchange of the Company's American depositary receipts with ISIN US69343P1057;

(3)       the listing of the Company's American depositary receipts with ISIN US69343P2048 on the Official List;

(4)     the admission to trading on the London Stock Exchange of the Company's American depositary receipts with ISIN US69343P2048;

(5)       the listing of the Company's ordinary shares with ISIN RU0009024277 on the Official List; and

(6)     the admission to trading on the London Stock Exchange of the Company's ordinary shares with ISIN RU0009024277,

with such cancellation of listing and admission to trading expected to be effective on 6 June 2022.

The request for the cancellation of listing and admission to trading of the above securities is made to comply with the recently enacted Russian Federal Law No. 114-FZ dated 16 April 2022 prohibiting the offering and trading of foreign securities representing shares of Russian issuers (including the Company) outside the Russian Federation.

The notice is made pursuant to Listing Rule 5.2.8.

Enquiries:

Alexander Palivoda,

Head of Capital Markets

mail: Alexandr.Palivoda@lukoil.com

Tel: +7 (495) 981 75 26