Rosneft: Rosneft Oil : 2024 Full Year IFRS Financial Statements

Summary Consolidated Financial Statements Rosneft Oil Company for the year ended December 31, 2024 with independent auditor's report Summary Consolidated Financial Statements Rosneft Oil Company Contents Page Independent auditor's report 3 Summary consolidated financial statements Summary consolidated balance sheet 5 Summary consolidated statement of profit or loss 6 Summary consolidated statement of cash flows 7 Notes to the summary consolidated financial statements 1. Basis of preparation 8 2. Significant accounting policies 10 3. Significant accounting judgements, estimations and assumptions 26 4. New and amended standards and interpretations issued but not yet effective 27 5. Property, plant and equipment 28 6. Shareholders' equity 28 2 Rosneft Oil Company Summary consolidated balance sheet (in billions of Russian rubles) December 31, December 31, Notes 2024 2023 ASSETS Current assets 4,283 3,839 Non-current assets Property, plant and equipment 5 13,936 12,639 Other non-current assets 2,463 2,309 Total non-current assets 16,399 14,948 Total assets 20,682 18,787 LIABILITIES AND EQUITY Current liabilities 5,984 4,832 Non-current liabilities 5,541 5,541 Equity Share capital 1 1 Retained earnings 6 6,347 5,885 Other funds and reserves 2,809 2,528 Total equity 9,157 8,414 Total liabilities and equity 20,682 18,787 The accompanying notes to the summary consolidated financial statements are an integral part of these statements. 5 Rosneft Oil Company Summary consolidated statement of profit or loss (in billions of Russian rubles) For the year For the year ended ended December 31, December 31, Notes 2024 2023 Revenues and equity share in profits of associates and joint ventures Oil, gas, petroleum products and petrochemicals sales 9,972 8,990 Support services, other revenues, equity share in profit of associates and joint ventures 167 173 Total revenues and equity share in profits of associates and joint ventures 10,139 9,163 Costs and expenses Production and operating expenses 895 675 Depreciation, depletion, amortization and impairment 848 769 Taxes other than income tax 3,639 3,156 Other costs and expenses 2,628 2,381 Total costs and expenses 8,010 6,981 Operating profit 2,129 2,182 Other expenses (236) (225) Profit before income tax 1,893 1,957 Income tax expense (552) (428) Profit for the year 1,341 1,529 Profit for the year attributable to Rosneft shareholders 1,084 1,267 The accompanying notes to the summary consolidated financial statements are an integral part of these statements. 6 Rosneft Oil Company Summary consolidated statement of cash flows (in billions of Russian rubles) For the year For the year ended ended December 31, December 31, Notes 2024 2023 Operating activities Profit for the year 1,341 1,529 Adjustments to reconcile profit for the year to net cash provided by operating activities 1,124 1,236 Net cash provided by operating activities 2,465 2,765 Investing activities Capital expenditures (1,442) (1,297) Other proceeds from investing activities 13 104 Net cash used in investing activities (1,429) (1,193) Financing activities Proceeds from loans and borrowings 1,688 873 Repayment of loans and borrowings (980) (1,439) Other financing repayment (1,414) (971) Net cash used in financing activities (706) (1,537) Net increase in cash and cash equivalents 330 35 The accompanying notes to the summary consolidated financial statements are an integral part of these statements. 7 Rosneft Oil Company Notes to the summary consolidated financial statements December 31, 2024 (all amounts in tables are in billions of Russian rubles, except as noted otherwise) 1. Basis of preparation These summary consolidated financial statements were derived from consolidated financial statements of the Company for the year ended December 31, 2024, which were prepared in accordance with International Financial Reporting Standards. The summary financial statements were prepared with a purpose of presentation of consolidated financial position and consolidated financial results of the Company without causing damage to the Company and (or) its partners. These summary consolidated financial statements consist of: Summary consolidated balance sheet as of December 31, 2024; Summary consolidated statement of profit or loss for the year ended December 31, 2024; Summary consolidated statement of cash flows for the year ended December 31, 2024; Notes to the summary consolidated financial statements. These summary consolidated financial statements for the year ended December 31, 2024, contain information facilitating comprehension of the Company's activities by the users and do not disclose all the information presented in consolidated financial statements of the Company for the year ended December 31, 2024. Decisions of the management on preparation of the summary consolidated financial statements as well as on the range of sensitive information were made with consideration of the following regulatory legal act #903 On the temporary procedure for disclosing and providing information by some Russian business entities dated November 27, 2023. Furthermore, the following information was withdrawn from the summary consolidated financial statements: statement of other comprehensive income, statement of changes in equity, general information about the Company, information on capital and financial risk management, acquisition and disposals of subsidiaries and joint arrangements, segment information, personnel expenses, non-controlling interest, earnings per share, information about financial instruments, taxes, export customs duties, inventories, finance income and expenses, cash and cash equivalents, accounts receivable and payable, information on funds in settlements and sources of financing, on other non-financial assets and liabilities, on lease agreements, on intangible assets and goodwill, on investments in associates and joint ventures, pension benefit obligations, on related parties transactions, on key subsidiaries, on commitments and contingencies, as well as information on supplementary oil and gas disclosure (unaudited). 8 Rosneft Oil Company Notes to the summary consolidated financial statements (continued) 1. Basis of preparation (continued) The basis of preparation and disclosure of these summary consolidated financial statements are as follows: These summary consolidated financial statements are intended to summarize and present aggregated information of the consolidated balance sheet, consolidated statement of profit or loss, consolidated statement of cash flows and do not include information on other comprehensive income and on changes in equity. "Current assets" of the summary consolidated balance sheet includes cash and cash equivalents, restricted cash, other short-term financial assets, accounts receivable, bank loans granted, inventories, value added tax, excise and other taxes receivable, prepayments and other current assets. "Other non-current assets" of the summary consolidated balance sheet includes right-of-use assets, intangible assets, other non-current financial assets, investments in associates and joint ventures, bank loans granted, deferred tax assets, goodwill and other non-current non-financial assets. "Current liabilities" of the summary consolidated balance sheet includes accounts payable and accrued liabilities, loans and borrowings and other financial liabilities, income tax liabilities, other tax liabilities, current provisions, prepayments on long-term oil and petroleum products supply agreements and other current liabilities. "Non-current liabilities" of the summary consolidated balance sheet includes loans and borrowings and other financial liabilities, deferred tax liabilities, non-current provisions, prepayments on long-term oil and petroleum products supply agreements and other non-current liabilities. "Other funds and reserves" of the summary consolidated balance sheet includes treasury shares, additional paid-in capital, reserve for foreign exchange differences on translation of foreign operations and other funds and reserves. "Other costs and expenses" of the summary consolidated statement of profit or loss includes the cost of purchased oil, gas, petroleum products, goods for retail and refining costs, general and administrative expenses, transportation costs and other commercial expenses, exploration expenses. "Other expenses" of the summary consolidated statement of profit or loss includes finance income, finance expenses, other income, other expenses, and foreign exchange differences. "Other proceeds from investing activities" of the summary consolidated statement of cash flows includes the acquisition of short-term financial assets, proceeds from the sale, payment and disposal of short term financial assets, acquisition of long term financial assets, proceeds from the sale, payment and disposal of long term financial assets, proceeds from the sale of subsidiaries, net of cash disposed, proceeds from sale of property, plant and equipment. "Other financing repayment" of the summary consolidated statement of cash flows includes repayment of other financial liabilities, interest paid, other financing received, dividends paid to shareholders and non-controlling shareholders of subsidiaries. The summary consolidated financial statements for the year ended December 31, 2024 were approved and authorized for issue by management of the Company on March 20, 2025. 9 Rosneft Oil Company Notes to the summary consolidated financial statements (continued) 2. Significant accounting policies The basis of preparation and disclosure of these summary consolidated financial statements are as follows (continued): The accompanying summary consolidated financial statements differ from the financial statements issued for statutory purposes in accordance with Russian accounting principles in that they reflect certain adjustments, not recorded in the Company's statutory books, which are appropriate for presenting t