15.08.2016
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Results of the Board of Directors on August 10, 2016

August 12, 2016. 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 August 10, 2016.

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The Board of Directors elected Yury Trutnev, Deputy Chairman of the Government of the Russian Federation — Plenipotentiary Representative of the President in the Far Eastern Federal District as a Chairman of the Board of Directors of PJSC RusHydro.

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The Board of Directors elected Sergey Ivanov, General Director, Member of the Board of Directors of LLC RT Capital, as a Deputy Chairman of the Board of Directors of PJSC RusHydro.

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In compliance with the Listing rules of the Moscow Stock Exchange and corporate governance code the Board of Directors recognized Maxim Bystrov, Chairman of the Management Board, JSC ATS, NP Market Council, and Sergey Ivanov, General Director, Member of the Board of Directors of LLC RT Capital, as independent directors of the Board.

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The Board of Directors elected to the Audit Committee:

  • Maxim Bystrov, Chairman of the Management Board, JSC ATS, NP Market Council;
  • Sergey Ivanov, General Director, Member of the Board of Directors of LLC RT Capital;
  • Vyacheslav Pivovarov, President, Altera Capital.

Sergey Ivanov was elected Chairman of the committee.

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The Board of Directors elected to the Nominations and Compensations Committee:

  • Maxim Bystrov, Chairman of the Management Board, JSC ATS, NP Market Council;
  • Sergey Ivanov, General Director, Member of the Board of Directors of LLC RT Capital;
  • Vyacheslav Pivovarov, President, Altera Capital.

Vyacheslav Pivovarov was elected Chairman of the committee.

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The Board of Directors elected to the Strategy Committee:

  • Alexander Auzan, Dean of Economics Department, Lomonosov Moscow State University;
  • Igor Zadvornov, Head of Secretariat of Yury Trutnev, Deputy Prime Minister and Plenipotentiary Presidential Envoy to the Far Eastern Federal District;
  • Victor Mamin, Adviser to Energy Minister, Director of Department for corporate governance, pricing and oversight, Ministry of Energy of Russia;
  • Pavel Grachev, CEO, PJSC Polyus Gold;
  • Vasily Nikonov, Head of Energy Department, Rosneft;
  • Evgeny Olkhovich, Deputy Head, Department of Tariff Regulation, Infrastructure Reforms and Energy Efficiency, Ministry of Economic Development of Russia;
  • Maxim Rusakov, Member of Management Board, Market Council;
  • Pavel Snikkars, Director for electric energy development at the Ministry of Energy of Russia;
  • Sergey Shishin, Senior Vice-President, VTB Bank (PJSC);
  • Andrey Shishkin, Vice-President for Energy and Localization, PJSC Rosneft;
  • Nikolay Shulginov, Chairman of the Management Board — Director General of PJSC RusHydro;
  • George Rizhinashvili, Member of Management Board, First Deputy Chairman of the Management Board, PJSC RusHydro;
  • Nikolai Rogalev, Rector, MPEI, Federal Research University.

Alexander Auzan was elected Chairman of the committee.

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The Board of Directors elected to the Investments Committee:

  • Maxim Bystrov, Chairman of the Management Board, JSC ATS, NP Market Council;
  • Alexei Chekunkov, General Director, Far East Development Fund;
  • Anton Podgorny, Aide to Yury Trutnev, Deputy Prime Minister and Plenipotentiary Presidential Envoy to the Far Eastern Federal District;
  • Sergei Kirov, Member of the Management Board, First Deputy Chairman of the Management Board, RusHydro;
  • Denis Milyutin, Head, Directorate for control of energy resources costs of Energy Department, Rosneft;
  • George Rizhinashvili, Member of Management Board, First Deputy Chairman of the Management Board, PJSC RusHydro;
  • Vyacheslav Pivovarov, President, Altera Capital;
  • Victor Khmarin, Deputy Director General of PJSC RusHydro;
  • Artem Avetisyan, New business division, Agency for Strategic Initiatives for New Projects Promotion;
  • Nikolai Rogalev, Rector, MPEI, Federal Research University;
  • Vyacheslav Skulkin, Vice Director of the Department of the power industry development, Ministry of Energy of Russia;
  • Sergey Zhuravlev, Vice-President for GR, LLC UK Polyus;
  • Vitaly Domnich, head of division, Ministry of Economic Development of Russia;
  • Maria Tikhonova, Deputy Chairman of the Management Board, PJSC FGC UES.

Maxim Bystrov was elected Chairman of the committee. The Board of Directors also approved the amended regulations on the Investments Committee.

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The Board of Directors elected to the Committee on reliability, energy efficiency and innovations:

  • Nikolai Rogalev, Rector, MPEI, Federal Research University;
  • Alexei Chekunkov, General Director, Far East Development Fund;
  • Alexander Vikhansky, Director, Department for relations with natural monopolies, LLC UK Polyus;
  • Boris Bogush, Member of the Management Board, Chief Engineer, PJSC, RusHydro;
  • Vyacheslav Kravchenko, Deputy Minister of Energy of the Russian Federation;
  • George Rizhinashvili, Member of Management Board, First Deputy Chairman of the Management Board, PJSC RusHydro;
  • Sergey Tolstoguzov, Deputy General Director for the Far East, PJSC RusHydro;
  • Yury Vishnevsky, Deputy Director for Management of UES Regime, OJSC SO UES;
  • Kirill Frolov, Deputy General Director for R&D, PJSC RusHydro;
  • Nikolay Karpukhin, Deputy General Director for Construction, PJSC RusHydro;
  • Mikhail Fedorov, Chairman of the Scientific and Technical Council Bureau, PJSC RusHydro;
  • Andrey Shishkin, Vice-President for Energy and Localization, PJSC Rosneft;
  • Roman Gromov, Head of strategic development, NP Market Council.

Nikolay Rogalev was elected Chairman of the committee.

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The Board of Directors elected to the Far East energy development committee:

  • Yury Trutnev, Deputy Chairman of the Government of the Russian Federation — Plenipotentiary Representative of the President in the Far Eastern Federal District;
  • Igor Zadvornov, Head of the Office of the Deputy Chairman of the Government of the Russian Federation — Plenipotentiary Representative of the President in the Far Eastern Federal District;
  • Alexei Chekunkov, General Director, Far East Development Fund;
  • Pavel Grachev, CEO, PJSC Polyus Gold;
  • Vyacheslav Kravchenko, Deputy Minister of Energy of the Russian Federation;
  • Sergey Tolstoguzov, Deputy General Director for the Far East, PJSC RusHydro;
  • Vladimir Tupikin, Deputy Chairman of the Management Board, NP Market Council;
  • Andrey Kazachenkov, Member of Management Board, First Deputy Chairman of the Management Board, PJSC RusHydro;
  • Alexey Mol’sky, Deputy Chairman of the Management Board, PJSC FGC UES;
  • Vasily Nikonov, Head of Energy Department, Rosneft;
  • Sergey Kachaev, Deputy Minister for Development of the Far East;
  • Denis Pilienks, Deputy Director for development, OJSC SO UES;
  • Evgeny Olkhovich, Deputy Head, Department of Tariff Regulation, Infrastructure Reforms and Energy Efficiency, Ministry of Economic Development of Russia.

Yury Trutnev was elected Chairman of the committee.

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The Board of Directors considered the report on changes to the development plans of the company, ensuring priority execution of activities aimed at social and economic development of the Far East. The changes were made following the Russian Government’s Directives from June 28, 2016.

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The Board of Directors commissioned management to amend regulations on procurement of goods for PJSC RusHydro as well as ensure similar amendments to procurement regulations of subsidiaries until October 1, 2016.

The amendments are aimed at ensuring import-substitution of purchased software.

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The Board of Directors commissioned Chairman of the Management Board Nikolay Shulginov to amend the Long-term development of the Company to include measures aimed at 10% decrease of operating expenses in 2016.

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The Board of Directors considered the amended regulations on management of non-core assets, execution plan of divestment of non-core assets, report on divestment of non-core assets in 2015.

The Board also commissioned Nikolay Shulginov to send the draft plan on prospective divestment of non-core assets to the Federal Agency for State Property Management.

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The Board of Directors commissioned Nikolay Shulginov to submit to the Board of Directors the 2016-2020 Innovations program no more than 30 days after its approval by regulators.

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The Board of Directors approved the agreements with the Moscow Energy Institute, JSC GNIVTC and The Russian Union of Industrialists and Entrepreneurs (RSPP) as interested-party transactions. 

The information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of RusHydro. You can identify forward looking statements by terms such as "expect," "believe," "anticipate," "estimate," "intend," "will," "could," "may" or "might," the negative of such terms or other similar expressions. We wish to caution you that these statements are only predictions and that actual events or results may differ materially from these statements. We do not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, general economic conditions, our competitive environment, risks associated with operating in Russia, rapid technological and market change in our industries, as well as many other risks specifically related to RusHydro and its operations.
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