Results of the Board of Directors Meeting on March 26, 2019

 

PJSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) announces that the Company's Board of Directors held a meeting on March 26, 2019.

 

Resolutions passed on Items of the agenda:

 

Item 1. On execution of the Business Plan of the Company for 2018 (including the report on the execution of the Investment Program, including the Complex Modernization Program for Generating Facilities for 2018).

The resolution adopted:

To approve the report on the execution the Business Plan of the Company for the year 2018 (including the report on the execution of the Investment Program, including the Complex Modernization Program for Generating Facilities for the year 2018) (Appendix 1 to the Minutes).

 

Item 2. On approval of the report on the implementation of the consolidated Business Plan (including the consolidated Investment Program) of RusHydro Group for 2018.

The resolution adopted:

To approve the Report on the Implementation of the Consolidated Business Plan (including the consolidated Investment Program and the action plan for the optimization of costs based on the results of an external independent cost audit at RusHydro, including its subsidiaries) of RusHydro Group for 2018 (Appendix No. 2 to the Minutes).

 

Item 3. On approval of the report on the achievement of the Company's (the Management Board members') key performance indicators.

The resolution adopted:

1. To approve the Report on the Achievement of the Company Management Board Members' Annual Key Performance Indicators for 2018 for the following indicators: "Return on Equity (ROE)", "Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)", "Share of Purchases from Small and Medium Enterprises, %, Including based on Results of Purchases Only from Small and Medium Enterprises", "Productivity of Labor", "Prevention of More Than the Limit Number of Breakdowns, Pcs.", "Observation of Facility Commissioning Schedules and the Financing and Development Plan, %", as per Appendix No. 3 to the Minutes.

2. To postpone consideration of the item on fulfillment of the annual key performance indicator "Reduction of Operating Expenses (Costs), %" for 2018 to another scheduled meeting of the Board of Directors.

 

Item 4. Confidential.

The resolution adopted: Confidential.

 

About RusHydro

RusHydro Group is one of Russia's largest generating companies. RusHydro is the leading producer of renewable energy in Russia with over 400 generating facilities in Russia and abroad. The company also manages a number of R&D, engineering and electricity retail companies. Group's thermal assets are operated by subsidiary - RAO Energy System of East in the Far East of Russia. Total electricity generation capacity of the Group is 39.4 GW, heat capacity - 18.5 thousand GCal/h.

Russian Federation owns 60.56% in RusHydro, the rest is held by other institutional and individual shareholders (over 360,000). The company's stock is traded on Moscow Exchange (MOEX), and included in MSCI EM и MSCI Russia indexes. Company's GDRs in the IOB section of LSE, ADRs - in OTCQX.

 

For more information:

Investor Relations Department

Tel. +7 (800) 333 8000 ext. 1607, 1319, 1304

ir@rushydro.ru

 

The information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of PJSC "RusHydro" ("RusHydro"). One can identify forward-looking statements by terms such as "expect", "believe", "anticipate", "plan", "aim", "target", "forecast", "project", "should", "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 and political conditions, our competitive environment, risks associated with operating in Russia and rapid technological and market changes in our industries, as well as many other risks specifically related to RusHydro and its operations.