RESULTS OF PJSC “NK ROSNEFT” FOR Q1 2026 ACCORDING TO IFRS

Published on: 2026-06-01

Source: Rosneft – An important disclaimer is at the bottom of this article.

• THE DEPOSITORY RECEIVED 63.1 MILLION T OF N.E.
• GOOD GUIDES TO VIDEOS – 45.2 MILLION T
• GOOD GAS – 21.8 MILL CUB. M
• SHOW EBITDA EXCEEDS 728 MILLION RUBLES.
• CLEAN PRODUCT RELATED TO THE ACTION “ROSNEFT”, WORTH UP TO 115 MILLION RUBLES.

PJSC “NK “Rosneft” (hereinafter – “Rosneft”, the Company) publishes the results for Q1 2026, prepared in accordance with International Financial Reporting Standards (IFRS).

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Commenting on the results for Q1 2026, the Chairman of the Management Board and CEO of PJSC “NK Rosneft” I.I. Sechin noted:

“In 2026, the oil industry will operate under conditions of extremely high price volatility: stagnation of prices in January-February was replaced by a price rally from March due to the escalation of the conflict in the Middle East.”

At the same time, the industry faced significant operational risks. These include, primarily, restrictions by Transneft on the acceptance of raw materials into the pipeline system, disruptions in the operation of export terminals, as well as attacks on the Company’s production facilities: NPZ, tank farms, pumping stations. Considering the aforementioned, the Company assesses the likelihood of reserving a portion of the value of such assets, which may have a negative impact on the financial results.

Against this background, the Company’s revenue in the reporting quarter of 2026 increased by 4% compared to the previous quarter, while the EBITDA indicator demonstrated a significant growth of 37%, which was due to control over sales and seasonal factors.

At the same time, transportation costs, directly dependent on the growth of tariffs of natural monopolies, remained at a consistently high level. The long-standing practice of indexing tariffs above the inflation rate increases inflationary risks and limits the development pace of the real sector of the economy.

Caring for the interests of shareholders remains the main priority of Rosneft. On May 12, the Board of Directors recommended to the General Meeting of Shareholders to make a decision on the payment of final dividends. As the macroeconomic situation stabilizes, and the volume of production and profit grows, we will strive to increase the dividends paid to our shareholders.

Operational indicators

Intelligence and extraction

In Q1 2026, the Company’s average daily hydrocarbon production increased by 0.9% quarter-on-quarter, reaching 5,214 thousand barrels of oil equivalent per day. The total production volume for the period amounted to 63.1 million tonnes of oil equivalent.

Among them, the average daily production of liquid hydrocarbons in Q1 2026 amounted to 3,740 thousand barrels per day, which is 0.4% lower quarter-on-quarter. The total production volume for the period was 45.2 million tons. The dynamics were mainly negatively affected by anomalous weather conditions in Western and Eastern Siberia.

The Company’s average daily gas production in Q1 2026 reached 1,474 thousand barrels of oil equivalent per day, which is 4.3% higher quarter-over-quarter. The total production volume for the period was 21.8 billion cubic meters. The main contribution to production growth was provided by shelf projects.

The footage from operational drilling in Q1 2026 exceeded 2.5 million meters, with more than 0.6 thousand new wells commissioned, 73% of which are horizontal.

Project “Vostok Oil”

In the 1st quarter of 2026, within the framework of the “Vostok Oil” project, the Company continued the implementation of a large-scale geological exploration and pilot-industrial development program for the Payakhskoye and Ichyemminskoye fields. Thus, the volume of operational drilling exceeded 18 thousand meters, the drilling of 5 operational wells was completed. Trial production began during the pilot-industrial work at the Peschany licensed area of the Payakhskoye field.

As part of the preparation for the technological launch in 2026, by the end of March, more than 700 km of oil pipeline have been fully welded and laid on the project marks, including a two-pipe section of 422 km. Work on cleaning, calibrating, and pneumatic testing of the oil pipeline is being completed.

Construction readiness has been ensured for the acceptance of vessels at two cargo berths and a berth for port fleet at the “Port “Vostochny” Terminal. The construction of the first oil berth is at a high level of readiness; at the second berth, work continues on backfilling and the construction of technological structures. Final phases of construction are underway at the site for the launch of the external transport system of the “Vostok Oil” project.

Processing

The volume of oil refining in Q1 2026 amounted to 18.9 million tons, increasing by 5.2% quarter-on-quarter. The dynamics of refining volumes were driven by the restoration of operations at part of NPZ following repair and restoration work at the end of 2025. The depth of oil refining increased to 76.9%, and the output of light petroleum products rose to 59.6%.

Stable supply of Russian consumers with high-quality motor fuel is one of the main priorities of Rosneft’s activities. In the first quarter of 2026, the company sold 9.7 million tons of petroleum products on the domestic market, including 3.1 million tons of gasoline and 3.7 million tons of diesel fuel.

Financial indicators

Operating indicators and the prevailing macroeconomic situation, combined with managerial decisions, have determined the dynamics of the Company’s key financial indicators.

Against the backdrop of the growth in ruble prices for Ural crude oil, the revenue of the Company1 in Q1 2026 amounted to 2,032 billion rubles, increasing by 4.3% quarter-on-quarter. Taking into account revenue growth and thanks to control over costs, the EBITDA indicator in Q1 2026 grew to 728 billion rubles, with an EBITDA margin of 36%.

Net profit attributable to Rosneft shareholders in Q1 2026 reached 115 billion rubles. The profit growth was driven by an increase in EBITDA, as well as a number of non-cash and one-time factors, including exchange rate differences.

Capital expenditures in Q1 2026 amounted to 418 billion rubles. The increase in the indicator is due to the intensification of the investment program on key assets in the “Exploration and Production” segment.

The ratio of Net Debt / EBITDA at the end of Q1 2026 was 1.7x, which is significantly below the minimum covenant value in accordance with the credit agreements.

ESG

During the reporting period, the Company continued to implement measures to achieve sustainable development goals within the framework of the “Rosneft-2030” strategy.

Rosneft uses the latest technologies and the most modern production methods to create a safe working environment and minimize the risk of occupational injuries and diseases. In the first quarter of 2026, the lost workdays indicator (LWIS) decreased by 59%.

As a result of measures taken to prevent accidents in the 1st quarter of 2026, the number of incidents related to the safety of technological processes at the Company’s enterprise decreased. In particular, the frequency of incidents associated with the depressurization of equipment with severe consequences of the first level (PSER-1) decreased by 49% compared to the 1st quarter of 2025, and of the second level (PSER-2) by 55%.

Within the framework of work to minimize oil and petroleum product spills, measures were taken to replace industrial pipelines.

The Company’s leadership positions in the field of sustainable development receive independent external confirmation. In February 2026, Rosneft confirmed its status as one of the most innovation-oriented companies in Russia and entered the top five leaders of the first ranking of scientific and technological development of 300 largest Russian companies by the AK&M agency.

1 Includes revenue from sales and income from associated organizations and joint ventures.

Department of Information and Advertising
PJSC “NK “Rosneft”
1 June 2026

The current materials contain statements regarding future events and expectations, which constitute forward-looking assessments.Any statement contained in this material that is not information about past reporting periods represents a forward-looking assessment related to known and unknown risks, uncertainties, and other factors, as a result of which actual results, performance indicators, or achievements may differ significantly from the expected results, performance indicators, or achievements directly or indirectly expressed in this forward-looking assessment.We do not undertake any obligation to adjust the data presented here to ensure they reflect factual results, changes in assumptions or factors affecting prospective assessments.

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