04.12.2020
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Results of the Board of Directors meeting on December 2, 2020

December 4, 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 2, 2020.


The Board approved new compositions of Committees of the Board of Directors.


The Board of Directors elected following members to the Audit Committee:


Maksim Bystrov

Member of the Board of Directors of RusHydro,

Chairman of the Management Board of NP Market Council

Pavel Grachev

Member of the Board of Directors of RusHydro, General Director of PJSC Polyus

Vyacheslav Pivovarov

Member of the Board of Directors of RusHydro,

President of Altera Capital LLC

The Board of Directors elected Vyacheslav Pivovarov as Chairman of the Audit Committee.


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The Board of Directors elected following members to Nominations and Compensation Committee:


Maksim Bystrov

Member of the Board of Directors of RusHydro,

Chairman of the Management Board of NP Market Council

Pavel Grachev

Member of the Board of Directors of RusHydro, General Director of PJSC Polyus

Vyacheslav Pivovarov

Member of the Board of Directors of RusHydro, President of Altera Capital LLC

The Board of Directors elected Pavel Grachev as Chairman of the Nominations and Compensation Committee.


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The Board of Directors elected following members to Strategy Committee:


Roman Berdnikov

Deputy General Director of RusHydro for strategy, innovations and perspective development

Pavel Grachev

Member of the Board of Directors of RusHydro, General Director of PJSC Polyus

Igor Zadvornov

Head of the Secretariat of the Deputy Prime Minister of the Russian Federation – Plenipotentiary Representative of the President in the Far Eastern Federal District Yury Trutnev

Andrey Kazachenkov

Member of the Management Board, First Deputy General Director of RusHydro

Ilya Karpov

Head of Department of the property relations and privatization of major organizations, Federal Agency for State Property Management of the Russian Federation

Lev Kuznetsov

Member of the Board of Directors of RusHydro, General Director of Management Company Intergeo LLC

Boris Livshits

Deputy Head of the Competitive Pricing Department at NP Market Council

Vasiliy Nikonov

Director of Energy Department of PJSC Rosneft Oil Company

Vyacheslav Pivovarov

Member of the Board of Directors of RusHydro, President of Altera Capital LLC

Nikolay Rogalev

Member of the Board of Directors of RusHydro,

Chancellor of Moscow Power Engineering Institute, Federal Research University

Dmitry Snesar

Member of the RusHydro Board of Directors,

Head of Department of Market Industry Customer Relations – Senior Vice-President of VTB Bank (PJSC)

Pavel Snikkars

Deputy Minister of Energy of the Russian Federation

The Board of Directors elected Igor Zadvornov as Chairman of the Strategy Committee.


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The Board of Directors determined the size of the Investment Committee as 12 persons and elected following members to the Committee:


Maksim Bystrov

Member of the Board of Directors of RusHydro,

Chairman of the Management Board of NP Market Council

Sergey Zhuravlyov

Vice President for Governmental Affairs at Management Company LLC Polyus

Alexander Ilyenko

Member of the Management Board, director for development, System Operator of Russia

Andrey Kazachenkov

Member of the Management Board, First Deputy General Director of RusHydro

Sergey Kirov

Member of the Management Board, First Deputy General Director of RusHydro

Lev Kuznetsov

Member of the Board of Directors of RusHydro, General Director of Management Company Intergeo LLC

Denis Milyutin

Head of the Fuel and Power Resources Cost Control Office of the Energy Department of PJSC Rosneft Oil Company

Vyacheslav Pivovarov

Member of the Board of Directors of RusHydro, President of Altera Capital LLC

Nikolay Rogalev

Member of the Board of Directors of RusHydro,

Chancellor of Moscow Power Engineering Institute, Federal Research University

Dmitry Snesar

Member of the RusHydro Board of Directors,

Head of Department of Market Industry Customer Relations – Senior Vice-President of VTB Bank (PJSC)

Natalia Filippova

Deputy Director of Secretariat of Deputy Chairman of the Government of the Russian Federation — Plenipotentiary Representative of the President of the Russian Federation in the Far Eastern Federal District

Andrei Chulkin

Project Director of the Directorate "Analytical Centre of Fuel and Energy Sector ‘FSBI REA’ ” of the Ministry of Energy of the Russian Federation

The Board of Directors elected Maksim Bystrov as Chairman of the Investment Committee.


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The Board of Directors determined the size of Committee for Far East Energy Development as 10 persons and elected the following members to the Committee:


Roman Berdnikov

Deputy General Director of RusHydro for strategy, innovations and perspective development

Dmitry Bulgakov

Deputy Director of Expert Analytical Center for Fuel and Energy Sector at the Ministry of Energy of the Russian Federation

Pavel Grachev

Member of the Board of Directors of RusHydro, General Director of PJSC Polyus

Igor Zadvornov

Head of the Secretariat of the Deputy Prime Minister of the Russian Federation – Plenipotentiary Representative of the President in the Far Eastern Federal District Yury Trutnev

Andrey Kazachenkov

Member of the Management Board, First Deputy General Director of RusHydro

Sergey Lebedev

Deputy Chairman of the Management Board, NP Market Council

Vasiliy Nagibin

Deputy Minister of the Russian Federation for the development of the Far East and Arctic

Denis Pileniyeks

Deputy Director for Unified Energy System Development at JSC SO UES

Alexey Chekunkov

Member of the Board of Directors of RusHydro, Minister of the Russian Federation for the development of the Far East and Arctic

The Board of Directors elected Alexey Chekunkov as Chairman of the Committee for Far East Energy Development.


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The Board of Directors elected following members to the Reliability, Energy Efficiency, and Innovations Committee:


Oleg Barkin

Member of the Management Board – Deputy Chairman of the Management Board of NP Market Council

Roman Berdnikov

Deputy General Director of RusHydro for strategy, innovations and perspective development

Sergey Vasilyev

Member of the Management Board – Deputy General Director, Director of the Far East Division of PJSC RusHydro

Yuriy Vishnevskiy

Deputy Director for Unified Energy System Regime at JSC SO UES

Sergey Zhuravlyov

Vice President for Governmental Affairs at Management Company Polyus LLC

Nikolay Rogalev

Member of the Board of Directors of RusHydro,

Chancellor of Moscow Power Engineering Institute, Federal Research University

Alexander Faustov

Deputy Chief Engineer of RusHydro

Alexander Fedorov

Deputy Director of operational control and management in the power sector of the Ministry of the Russian Federation

Mikhail Fedorov

President of Peter the Great Saint Petersburg Polytechnic University, Bureau Chairman of the Scientific and Technical Council of RusHydro

The Board of Directors elected Nikolay Rogalev as Chairman of the Reliability, Energy Efficiency, and Innovations Committee.


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The Board of Directors approved the action plan for 2020-2021 reporting year.


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The Board approved the Company’s Insurance Protection Program for 2021.


The terms of insurance coverage are in accordance with the Company’s internal documents as well as procurement documentation. Optimization of insurance program in general as well as insurance tariff reduction following procurement and reduction of the number of insured individuals contributed to overall savings in coverage.


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The Board of Directors approved the results of the Company's nine months 2020 Business Plan execution including the report on execution of the Investment program, as well as Comprehensive modernization program of hydrogenating facilities.


Electricity production for nine months came in 111.4% of the planned figure or 75.2 GWh and reached an all-time high level in the Company’s history primarily thanks to increased water inflows the main reservoirs on the Volga-Kama cascade, in Siberia and in the Far East.


During the reporting period, PJSC RusHydro’s EBITDA under Russian Accounting Standards (RAS) increased by 23% to RUB 72.4 bn – historic result for the comparable period. Net profit came in at RUB 42.7 bn, an increase of 29% year on year.


Financing of PJSC RusHydro’s investment program for the nine months of 2020 came in at RUB 19.2 bn including RUB 12.5 bn for Comprehensive modernization program. Financing of investment program of the company’s subsidiaries amounted to RUB 9.6 bn. In the reporting period the Company has commissioned 126 MW and 200 GCal/h CHPP in the city of Sovetskaya Gavan and Verkhnebalkarskaya small HPP. Following relabeling of equipment upon the rehabilitation & modernization program in the first nine months of the year the installed capacity increased by 25 MW.


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The Board of Directors approved the report on divestment of none-core assets for the nine months of 2020. Having achieved its target, the Company has saved RUB 91.58 bn from divestment of none-core assets.


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The Board of Directors approved signing a supplementary agreement to the forward contract with VTB Bank that the Company has entered into in 2017, which allows for taking into account dividend payment against forward payments to the bank regarding postponement of the AGM in 2020.

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