Resolutions of the Sep. 30, 2020 Board of Directors

01 October 2020

On Sep. 30, 2020, the Board of Directors has conducted an in-absentia Board meeting. In the course of the meeting, directors have scrutinized and decided on the range of corporate issues.

In the course of the meeting, the Board of Directors has scrutinized the Internal Audit’s CY2019-2020 corporate governance evaluation report. As stated by the report, the level of compliance with principles and recommendations, stipulated in the Corporate Governance Code, Listing Rules and best-in-class corporate practices, reached 84% (CY2018-2019 compliance level: 84%), which corresponds with “Developed Practices” level.

The Board of Directors has reshuffled the composition of the Company’s Central Procurement Body, V.I. Grebenyuk replaced by O.V. Krylov, Deputy Head of Procurement Arrangement Section of Procurement Arrangement and Consolidated Planning Department at PAO Rosseti.

Besides, in the course of the meeting, the Board of Directors has approved the list of primary anti-crisis measures to be taken in the current economic environment, Company’s action plan regarding reduction of overdue transmission receivables and reconciliation as of 01 July 2020, examined the reports with regard to the execution of the 2020-2024 Reduction of Electricity Losses in the Company’s Networks Program in 2Q 2020 and execution of the Board of Directors assignment as well as adopted resolutions on other agenda items.

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