13.02.2020
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Results of the Board of Directors meeting on February 11, 2020

February 13, 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 February 11, 2020.

The Board of Directors approved substantial terms of the supplementary agreement to the contract between PJSC RusHydro and JSC VTB Registrar on shareholder register services.

The changes include extension of the contract’s term for three years, adding the option of electronic voting for shareholders as well as receipt and processing of submissions to purchase shares within the limits of additional share issues.

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The Board of Directors approved the Group’s transition to tax monitoring in 2020 and assigned Nikolay Shulginov, Chairman of the Management Board – General Director of RusHydro to analyze the possibility to implement such mechanism in the subsidiaries.

The company’s participation in tax monitoring further solidifies its status as a reputable taxpayer. Its inclusion in the tax monitoring system confirms RusHydro’s transparency and its willingness for constructive and professional dialog with tax authorities. RusHydro Group pays over RUB 80 mn in tax each year with half of the amount coming from PJSC RusHydro. Cooperation and information sharing in accordance with the tax laws of the Russian Federation, increase of predictability of tax regulation and management quality are the ultimate goals of monitoring.

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The Board of Directors took into consideration information on major investment projects with capital expenditures in excess of RUB 10 bn within the Group’s consolidated investment program for 2020-2024, approved by the Board on 26.12.2020.

The Board assigned Nikolay Shulginov, Chairman of the Management Board – General Director of RusHydro to report semi-annually on these projects to the Ministry of Economic Development of the Russian Federation and to the Federal Agency for State Property Management.

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The Board reviewed and approved the reports on the results of Committees of the Board of Directors for 2019-2020 reporting period. During the period, 36 committee meetings took place, 10 in the form of joint presence where 91 questions were reviewed.

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The Board of Directors approved the changes to the annual key performance indicators of the Management Board for 2020, the methodology for their calculation as well as KPIs of long-term development program of RusHydro Group for the period of 2018-2022.
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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