Authorized capital payment

Payment of the authorized capital was made:

- on incorporation: by shares in JSC Volzhskaya HPP, JSC Zhigulevskaya HPP, JSC Votkinskaya HPP, JSC Neporozhny SShHPP, JSC Zeiskaya HPP, JSC Boguchanskaya HPP, JSC Bureiskaya HPP, JSC Zaramagskiye HPPs, JSC Zelenchukskiye HPPs, JSC KabbalkHPP, JSC Sulakenergo, JSC Nizhegorodskaya HPP, JSC Saratovskaya HPP, JSC Kamskaya HPP, JSC Cascade of VV HPPs and JSC MC VoHPP (renamed JSC MC RusHydro) and in cash.

- on the additional issue completed in 2006: by shares in JSC Cheboksarskaya HPP, JSC Dagestan Regional Generating Company, JSC Zagorskaya PSPP, JSC Stavropol Electricity Generating Company, JSC Zaramagskiye HPPs, JSC Zelenchukskiye HPPs, JSC NIIES and JSC VNIIG named after B.E. Vedeneyev; property portfolio of the Novosibirskaya HPP; moveable and immoveable property of JSC RAO UES of Russia used by the hydro-electric power stations to produce electric power and in performing current activities, and in cash.

- on the additional issue completed in October 2007: by shares in JSC Zelenchukskiye HPPs, JSC Zaramagskiye HPPs, JSC Sulakenergo, JSC Vilyuiskaya HPP-3, JSC ESKO UES, JSC North-Ossetia HGC, JSC Krasnoyarskaya HPP, JSC Geoterm, JSC OP Verkhne-Mutnovskaya Geothermal PP and in cash.

- on the additional issue at the time of the absorption (completed in July 2008):

Stage 1: JSC Volzhskaya HPP, JSC Zhigulevskaya HPP, JSC Votkinskaya HPP, JSC Neporozhny Sayano-Shushenskaya HPP, JSC Zeiskaya HPP, JSC Bureiskaya HPP, JSC Kamskaya HPP, JSC Cascade of VV HPPs, JSC Nizhegorodskaya HPP, JSC Saratovskaya HPP, JSC Cheboksarskaya HPP, JSC Zagorskaya SHPP, JSC Stavropol Electricity Generating Company, JSC Dagestan Regional Generating Company, JSC KabbalkHPP, JSC Sulakenergo, JSC Zelenchukskiye HPPs, JSC North-Ossetia Hydro-Generating Company, JSC Kabardino-Balkaria Hydro-Generating Company and CJSC EOZ were reorganized and absorbed by JSC RusHydro and the shares in the reorganized companies were converted into JSC RusHydro shares;

Stage 2: JSC State Holding RusHydro, JSC Minority Holding RusHydro, JSC Irganaiskaya HPP and JSC Cascade of Nizhne-Cherekskiye HPPs were reorganized and absorbed by JSC RusHydro and the shares in the reorganized companies were converted into JSC RusHydro shares.

On 1 July, 2008, the final stage of the absorption was completed -JSC State Holding RusHydro and JSC Minority Holding RusHydro were separated out from JSC RAO UES of Russia and together with JSC Irganaiskaya HPP and JSC Cascade of Nizhne-Cherekskiye HPPs were reorganized and absorbed by JSC RusHydro.