LITASCO SA

Key business activities

Export Marketing

LITASCO (LUKOIL International Trading and Supply Company) has been the sole agent for the Company's international marketing and trading operations since 2000.

Transfer of all export operations to a single Company simplified export arrangements, optimized export flows and assured transparency of LUKOIL's oil and petroleum product exports.

LITASCO takes delivery of LUKOIL system barrels at load port in the Arctic Sea, the Baltic Sea, the Black Sea and at the Western Pacific Ocean.

Our international diversification has further increased when LITASCO has started marketing in 2014 of oil produced at the West Qurna-2 field in Iraq, which is being developed by LUKOIL.

Traditionally, LITASCO sold and delivered oil and petroleum products to refiners and end users in the areas surrounding the port of loading.

However, the dynamics of the markets have changed and today LITASCO is increasingly supplying new markets such as Africa, North and Latin America as well as Far East Asia.

System Supply

LITASCO manages crude oil and other feedstock purchases and deliveries on behalf of LUKOIL's refining and marketing operations in Eastern Europe in Bulgaria, Italy, the Netherlands and Romania.

Our contribution to LUKOIL is based on providing the system refineries with the most optimal feedstock that matches the individual refinery configuration and processing needs based on ever-changing prevailing market conditions. The balancing of the crude and feedstock is both from LUKOIL's own barrels as well as from third parties, so as to achieve the best economic performance.

In order to maximize the efficiency of trading operations with this oil LITASCO is building long-term relationships with major refineries in South East Asia, the USA and other countries and is also making deliveries to its own ISAB Refinery in Sicily.

International Trading

LITASCO conducts international entrepreneurial trading and marketing operations of crude oil and refined products outside Russia, (purchases and sales from/to third-parties) from Geneva and our network of trading offices in Asia, Europe, the Middle East and America.

Trading offices functions are to strengthen the global presence of LITASCO while covering local and international businesses in order to accelerate our ongoing expansion into these markets.

North-Western Europe, the Black Sea countries and the Mediterranean region have traditionally been LITASCO's key markets.

The company is also expanding into new markets in Central America, China and the Middle East as well as expanding its presence in the oil-producing regions of western, subequatorial and southern Africa, and is also pursuing projects in Central America and Colombia.

LITASCO creates incremental value from the 3^rd party barrels using its trading and marketing skills.

LITASCO is consistently increasing margins on trade operations by optimizing management of LUKOIL's delivery channels and by increasing the volume of trade with third parties.

Gas and Power Wholesale Trading

Please take note of the following restriction of the power of representation relating to LITASCO SA's activities as a balancing responsible party in Austria:

"According to LITASCO SA's shareholders' resolution of September 17, 2019 and for the purposes of section 93 Abs 1 Z 3 litera b) Natural Gas Act (GWG 2011), only members of the board and of the management who are Austrian citizens or citizens of another EU member state or EEA are entitled to act for the company relating to the activities of the company as a Balance Responsible Party in Austria".

16.01.2023:

"LITASCO SA has started the application process for being granted a gas shipper licence under section 7A(2) of the UK Gas Act 1986." The relevant notification to be found enclosed.

Advert for Gas Shipper licence

Storage

Storage is "KEY activity and skill" to LITASCO strategy.

It provides the Company with the necessary optionality to handle its significant system flow, as well as its third party volumes.

By bulk breaking, making bulk and through blending activities, LITASCO is able to provide its customers and trading partners with the right products at the right time, on a global scale.

In a very dynamic and ever changing market environment, LITASCO constantly strives to optimize its oil storage positions worldwide, hence adapting to complex market dynamics.

We are present in all major supply and trading hubs across the globe, with a total capacity of over 4 mm ³.

Our storage portfolio includes positions in the ARA region (Amsterdam, Rotterdam, Antwerp), in Scandinavia as well as in France for Northern Europe.

In the Mediterranean region, we are present amongst others in Spain, France, in Malta, in the Black Sea as well as in Egypt.

Further east, we have storage capacities in Singapore and in Vietnam.

We serve the markets North and South America through our capacities in the US Gulf coast, as well as further inland in the US in Cushing.

Key business activities

Export Marketing

System Supply

International Trading

Gas and Power Wholesale Trading

Storage

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