02.11.2021
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Results of the Board of Directors meeting on October 29, 2021

October 29, 2021. 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 October 29, 2021.


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The Board of Directors approved the report on preliminary results of execution of PJSC RusHydro’s business plan for the first half of 2021 including execution of investment plan and comprehensive rehabilitation and modernization program.


In the reporting period, electricity production reached 47.1 GWh, in accordance with business plan as water inflows to the main reservoirs of the hydropower plants on the Volga-Kama cascade, Siberia and in the Far East were at the long-run average level or slightly above.


PJSC RusHydro’s RAS EBITDA for the first half of the year reached RUB 49.8 bn, an increase of 1% over the corresponding period of 2020. The increase came on the back of revenue growth aided by management’s ongoing focus on operational efficiency. Revenue for the first half of 2021 reached RUB 75.1 bn (excluding capacity surcharge in the first and second price zones) or 7% above the first half of 2020 following increased capacity sales from facilities commissioned in 2020.


PJSC RusHydro spent RUB 7.9 bn on its investment program including RUB 7.2 bn on comprehensive modernization program. The investment program of Company’s subsidiaries — customers of construction projects amounted to RUB 5.8 bn. In the first half of 2021, the company has not commissioned any new facilities.


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The Board of Directors assigned PJSC RusHydro’s representatives in the Board of Directors of JSC DGK to approve divestment of Khabarovskaya CHPP-1 facilities necessary for construction of Khabarovskaya CHPP-4 to PJSC RusHydro.


Under the government’s program on modernization of thermal power capacities, RusHydro plans to construct three new facilities and modernize one power plant in the Far Eastern Federal District. Khabarovskaya CHPP-4 (320.8 MW of installed electric capacity and 1,368.3 GCal of installed heat capacity) will replace Khabarovskaya CHPP-1, which is in service since 1954. Its construction will take place at the old facility’s site. The transaction includes JSC DGK’s preliminary divestment of certain facilities of Khabarovskaya CHPP-1 to RusHydro.


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The Board of Directors elected Yuriy Lyubimov, member of the Management Board, First Deputy Director General to the Strategy Committee.


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The Board of Directors reviewed the results of external and internal assessment of the Company’s corporate governance system, independent review of the Board of Directors’ performance as well as the key areas of development of the corporate governance system and the Board of Directors’ functions.


Over the years, RusHydro has received high ratings in corporate governance and information disclosure.


The independent assessment of JSC PriceWaterhouseCoopers Consulting in 2021 has also confirmed positive dynamics in the Board of Director’s performance. RusHydro took 94% out of 100% in final corporate governance score based on the internal audit of 2020.


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The Board of Directors approved RusHydro Group’s digital transformation Strategy for 2021-2024 with outlook until 2030. Its key goal is efficiency improvement through implementation of digital technologies with preservation of safety and reliability of generation facilities.


Within the framework of RusHydro Group’s single information network, the Company’s technological level will reach that of the leading international power companies, further develop of environmentally-friendly energy sources such as hydropower and renewable energy sources, employ locally manufactured software and improve efficiency and accuracy of current operating equipment.


The key areas of transformation will be cyber safety, remote operation of power facilities, digital networks and retail business and other.

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