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PRESIDENTIAL DECREE OF THE RUSSIAN FEDERATION

of October 7, 2022 No. 723

About application of additional special economic measures in the fuel and energy sphere in connection with unfriendly actions of some foreign states and the international organizations

(as amended on 08-04-2024)

Due to the unfriendly and contradicting international law actions of the United States of America and the foreign states and the international organizations which adjoined them directed to introduction of rationing arrangements concerning citizens of the Russian Federation and the Russian legal entities for the purpose of protection of national interests of the Russian Federation and according to the Federal Laws of December 30, 2006 No. 281-FZ "About special economic measures and enforcement powers", of December 28, 2010 No. 390-FZ "About safety" and of June 4, 2018 No. 127-FZ "About corrective actions (counteraction) on unfriendly actions of the United States of America and other foreign states" I decide:

1. Determine that in connection with threat of emergence of emergency situation of natural and technogenic nature, threats of life and safety of people, threat to national interests and economic safety of the Russian Federation which resulted from violation by some foreign legal entities and physical persons of obligations which is connected with execution of the Production sharing agreement concerning development of fields of Chayvo Odopta and Arkutun-Dagi imprisoned on June 30, 1995 (further - the Agreement), to these foreign persons and persons which are under their control apply the following special economic measures:

a) The government of the Russian Federation creates the Russian limited liability company to which based on this Decree pass all rights provided by the Agreement and obligations of consolidation of legal entities - investors, the status of the legal entity performing the activities on the basis of cooperation agreement and not having (further - consortium), including the rights and obligations of the operator (Exxon Neftegaz Limited company). Such limited liability company (further - society) is created according to the procedure, established by the Government of the Russian Federation. Society according to the Agreement performs development of subsoil plots within the contractual water area which borders are specified in articles XXXX and XXXXI of the Agreement, and is allocated with all rights and obligations of consortium. The government of the Russian Federation is not founder (participant) of society;

b) the property created or acquired by consortium within the Agreement is subject to immediate transfer into the ownership of the Russian Federation (in connection with proper execution of obligations by the Russian Federation on cost recovery of consortium on creation or acquisition of such property) with its simultaneous transfer to free use for the term determined by the Agreement, to society;

c) other, than provided by the subitem "b" of this Item, the property of consortium is subject to immediate transfer into the ownership of society;

d) shares in the authorized capital of society belong:

to Sakhalinmorneftegaz Shelf joint-stock company it is pro rata to share of its participation under the Agreement (percent 11,5);

to RN-Astra joint-stock company it is pro rata to share of its participation under the Agreement (percent 8,5);

to society it is pro rata to cumulative share of foreign parties of consortium under the Agreement (80 percent). This share is subject to transfer to persons determined according to this Decree. Before date of transmission to these persons of the shares belonging to society control of them is exercised of the Government of the Russian Federation based on this Decree;

e) in a month from the moment of creation of society foreign parties of consortium shall provide to the Government of the Russian Federation notifications on consent to accept in property of share in the authorized capital of society in proportion to the shares belonging to each of them under the Agreement. The documents confirming the rights of these parties of consortium to respective shares of participation under the Agreement and also receipt of approvals (coordination) for acceptance of shares or lack of need of receipt of such approvals (coordination) shall be attached to the notification;

e) in case of receipt of the notification from among the notifications specified in the subitem "d" of this Item, the Government of the Russian Federation in 3-day time:

performs verification of the documents submitted according to the subitem "d" of this Item;

makes the decision on transfer of share in the authorized capital of society to the corresponding foreign party of consortium in proportion to the share belonging to it under the Agreement or on refusal in transfer of share in the authorized capital of society;

g) the share in the authorized capital of society, the decision on which transfer is made by the Government of the Russian Federation, is without delay transferred to the foreign party of consortium on which according to the paragraph third the subitem "e" of this Item makes the decision on such transfer, and management of the Government of the Russian Federation of this share stops;

h) the share in the authorized capital of society which transfer according to subitems "e" and "zh" of this Item was not performed to the foreign party of consortium is subject to assessment by the Government of the Russian Federation and sale in the procedure established by the Government of the Russian Federation to the Russian legal entity corresponding to the criteria determined by the Government of the Russian Federation. The specified assessment and sale of share are performed by the Government of the Russian Federation no later than January 1, 2025;

i) the money obtained from sale of share in the authorized capital of society which transfer according to subitems "e" and "zh" of this Item was not performed to the foreign party of consortium is enlisted by the buyer of such share for the account of type "C" opened by society addressed to this party of consortium according to the Presidential decree of the Russian Federation of March 5, 2022 for No. 95 "About temporary procedure for obligation fulfillment before some foreign creditors". The foreign party of consortium has no right to dispose of the specified money before completion of the procedures, provided by subitems "l" - "N" of this Item;

j) money in the amount of, equal to the size of the money which is saved up by foreign parties of consortium according to the article XX of the Agreement is subject to immediate transfer by them or according to their order other persons on the settlement account of society. Society opens in the bank authorized by the Government of the Russian Federation, the liquidating account into which enlists this money. The money enlisted into the liquidating account is used for the purpose of and procedure, established by the Agreement;

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