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Results of the Board of Directors meeting on September 30, 2020

October 2, Moscow, Russia. PJSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) announces that the Company's Board of Directors held a meeting in absentia on September 30, 2020.

The Board of Directors extended the contract with Nikolay Shulginov, Chairman of the Management Board – General Director of RusHydro, who has been the Company’s Head since September 2015. Extension of the contract for two years is necessary to adopt RusHydro’s new development strategy until 2035, commence construction and modernization of four thermal power plants in the Far East and complete the development program on modernization of the power grid infrastructure in the Far Eastern Federal District.

The Board of Directors approved the composition of the Management Board in the number of six persons and elected Sergei Vasilyev, Director of the Far East Division and Bayrta Perveyeva, deputy Director General for human resource management and organizational development to the Management Board.

The Board of Directors approved the report on execution of PJSC RusHydro’s Annual Comprehensive Procurement Program for the first half of 2020. In the period, the Company has carried out 1,350 procurement procedures, 99% in electronic format, and achieved savings over budget of RUB 874.35 mn.

The Board of Directors approved documents, regulating evaluation process on execution of RusHydro Group’s Long-term development program and fulfillment of key performance indicators - specification and technical design (in relation to 2020 results).

Since the approval of Long-term development program, an External audit organization annually examines its compliance with the methodological recommendations of the Ministry of Economic Development of the Russian Federation.

The Board of Directors approved changes to the methodology on evaluation of annual key performance indicators of Members of the Management Board of PJSC RusHydro and RusHydro Group’s Long-term development program for 2020-2024 as well as the methodology on evaluation of key performance indicators of PJSC RusHydro’s updated Long-term motivation program.

The Board of Directors took into consideration the report on execution of additional works at Zagorskaya PSHPP-2. JSC TonnelGeoStroi has already completed the preparation works including reinforcement of the building and has moved over to the project’s main phase – drilling of over 350 boreholes under the building’s basement platform ranging from 140 to 186 meters deep and pumping specially designed solidifying fluids into them. Levelling of the building is on schedule for completion in 2022 after which decision will be made on further actions.

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