Forward-looking Statements

This Report contains forward-looking statements concerning the financial position, operating results and business ofGazprom Neft and its consolidated subsidiaries. All statements except those that refer toaccomplished facts can and should beconsidered asforward-looking statements. These are statements that describe future expectations based onthe present situation and the assumptions ofmanagement, and involve known and unknown risks and uncertainties that may cause actual results, performance indicators orevents todiffer materially from those stated explicitly orimplicitly inthis Report.

Forward-looking statements include, among others, assertions about potential exposure ofGazprom Neft tomarket risks, and the expectations, beliefs, estimates, forecasts, projections and assumptions ofCompany management. Such forward-looking statements are marked with terms and phrases suchas: assume, anticipate, able, estimate, expect, intend, might, plan, objectives, outlook, probably, project, will, seek, target, risks, goals, should, and other such similar terms and phrases. Numerous factors exist that can impact future operations ofGazprom Neft and cause its performance tovary materially from the figures inthe forwardlooking statements included herein. Such factors include (without limitation): (a) crude oil and gas price fluctuations; (b) changes indemand for the companys products; currency exchange rate fluctuations; (d) results ofdrilling and production; (e) reserve estimates; (f) loss ofmarket share and competition inthe sector; (g) environmental and material risks; (h) risks related tofinding assets and property tobeacquired, and success innegotiation and closure ofsuch transactions; (i) economic and financial market conditions invarious countries and regions; (j) political risks, delay oracceleration ofproject implementation, cost approval and estimate; and (k) changes inthe market environment.