27.12.2019
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Results of the Board of Directors meeting on December 24, 2019

December 25, 2019. 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 December 24, 2019.


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RusHydro continues its systematic work aimed at divesting its none-core assets. The Board of Directors approved an updated Register of non-core assets along with an action plan for divestment of non-core assets for next reporting period.


The Board of Directors approved the report on divestment of a number of infrastructure facilities and non-core assets and approved gratuitous transfer of social assets in favor of several municipalities, as well as other non-core assets to territorial directorates of the Federal Agency for State Property Management in Krasnoyarsk Krai, Republic of Khakassia and Republic Tyva.


The Board of Directors approved divestment of the Company’s shareholding in RusHydro International B.V. following its voluntary liquidation in accordance with the Program on divestment of non-core assets. RusHydro’s strategy does not provide for investment in construction or purchase of new assets outside of Russia.


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The Board approved entering into sale and purchase agreement of concrete spillway dam in Sergiev Posad district of Moscow region by JSC Zagorskaya PSHPP-2 for its further dismantling.


Zagorskaya PSHPP-2 project stipulated extension of the tailrace pool of the plant. The pool is common for both plants - Zagorskaya PSPP and Zagorskaya PSHPP-2 and the dam doesn’t participate in operations of the plants and doesn’t affect production. Hence, according to the project, the dam should be dismantled.


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The Board of Directors approved a number of program documents for 2020 including:


- Insurance protection program
- Annual integrated procurement program


The Annual integrated procurement program is implemented primarily via competitive tenders, covering 81% of the overall procurement volume.  Electronic procurement accounts for 99.9% of the overall competitive procurement.


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The Board of Directors took into consideration the report on execution status of priority projects on construction of thermal generation facilities in the Far East as of 30.09.2019.


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The Board of Directors terminated powers of George Rizhinashvili as member of the Management Board, first deputy Chairman of the Management Board approved the composition of Management Board in the number of five persons.

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 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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