Resolutions of the Dec. 24, 2020 Board of Directors

28 December 2020

On Dec. 24, 2020, the Board of Directors has conducted an in-presentia/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 examined and adopted the Company’s 9M2020 business plan completion report. The key parameters of the report are as follows:

RUB million 9М 2020
Sales 54,914
Expenses (incl. adm. & comm. expenses) 53,457
Net profit 412

The Board of Directors has examined and adopted the Company’s FY2021 business plan. The key parameters of the FY2021 business plan are as follows*:

RUB million 2021 F
Sales, incl. 79,957
Electricity transmission 78,642
Connection 882
Other sales 433
Expenses (incl. adm. & comm. expenses) 76,344
Net profit 3,063
Debt by the end of the period 24,447
EBITDA 11,232
Debt/ EBITDA 2.2

*Disclaimer: Certain statements in this document are forward-looking statements. These forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from those expressed or implied by these forward-looking statements. These risks include the risk of changes in the Company’s operations and business prospects, the general financial and economic circumstances, relating to regulation of the Russian electricity industry and the Russian legislation, the competition and other risks. Many of these factors are beyond the Company’s ability to control or predict. Given these and other uncertainties, the Company cautions not to place undue reliance on any of the forward-looking statements contained herein or otherwise. The Company does not undertake any obligation to release publicly any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, except as may be required under applicable Russian federal securities laws.

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