Board of Directors

During the reporting year, the members of the Board of Directors’ became much more active in discussing and promoting the sustainability and climate agenda at the Company. Relevant matters were included in the agenda of several meetings during the reporting year. The number of matters raised and related tasks doubled year-on-year.

The Board of Directors also enhanced its engagement with stakeholders on climate change. Specifically, a meeting was held with representatives of an investment fund participating in the Climate Action 100+ initiative.

Independent Member of PJSC LUKOIL Board of Directors Toby Gati was actively involved in sustainability and climate change discussions at meetings of the Board of Directors and the Sustainability Task Force and provided recommendations, including regarding the improvement of disclosures.

The goals and objectives for further development of sustainable development activities are set. Significant focus will be placed on the development of measures in response to climate change.

Another important focus area will be the enhancement of occupational and environmental safety, as well as the overall improvement of the sustainability management system and practices, and determination of the contribution to the United Nations’ Sustainable Development Goals.

Composition and activities of the Board of Directors and its committees in 2019
Indicators Board of Directors of PJSC LUKOIL Strategy, Investment and Sustainability Committee Audit Committee Human Resources and Compensation Committee
Number of members 11
4
3
3
Types of members
independent
executiveAccording to the recommendations of the Corporate Governance Code, executive directors are understood not only as members of the Management Committee of PJSC LUKOIL, but also as persons having working relationships with the Company.
non-executive directors
6/3/2
2/2/0
3/0/0
3/0/0
Gender composition
women
men
2/9

1/3

0/3

0/3

Number of meetings
personal
absenteeIt is common practice for PJSC LUKOIL to hold absentee meetings. Typically, absentee meetings are called to discuss matters requiring quick approval that cannot be planned beforehand.
9/11

7/0

8/0

6/1

Number of sustainability development matters discussed 20 15 4 5
Attendance rate at personal meetings, %

Information on the structure of PJSC LUKOIL Board of Directors, compliance of the Company’s corporate governance practices with the Bank of Russia’s Corporate Governance Code, details of the Board members and other information are published in annual reports and on the Company’s website.