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One hundred per cent of the Company's ordinary shares are owned by the Russian Federation represented by the Federal Agency for State Property Management, whereas preferred shares are included in the Level One Quotation List of the Moscow Exchange and in its unified list of constituents for key indices calculation.

The Company strictly follows the current corporate governance law, provisions of the Corporate Governance Code approved by the Bank of Russia and the Listing Rules of the Moscow Exchange.

The Company seeks to bring its corporate governance system into conformity with the world's best practice and realises that an efficient and transparent relationship between its governing bodies, shareholders, investors and stakeholders will allow it to implement corporate strategic goals and objectives, enhance its goodwill, increase its investment appeal and ramp up capitalisation.

Transneft’s governing bodies include the General Meeting of Shareholders, the Board of Directors, the Management Board and the President, the Revision Commission being the control body. The Company's Board of Directors includes three independent directors; specialised committees function under the Board of Directors.