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Rosseti Volga

May 30, 2019

IDGC of Volga, PJSC held its Annual General Meeting of Shareholders

On May 30, 2019 in Saratov, the Annual General Meeting of Shareholders of IDGC of Volga, PJSC (included in the Rosseti Group) was held under the chairmanship of Valentin Mezhevich, Chief Adviser to Rosseti, PJSC, Chairman of the Board of Directors of IDGC of Volga, PJSC. Addressing the participants of the meeting, Valentin Mezhevich noted: "According to the reporting period, IDGC of Volga, PJSC has demonstrated positive financial, economic and production results confirming the accuracy of the development strategy chosen by the Company within the framework of the unified policies of the Rosseti Group. In 2018, the Company's revenue reached 63 591 million rubles, which is 7.5% more than in 2017.

†Net profit amounted to 4 239 million rubles. The total financing of the investment program in 2018 was 7 571.2 million rubles. 1 092.73 km of power lines and 385.91 MVA of transformer capacity were commissioned. In the reporting period, work on production and financial resources optimization, consolidation of best practices and improvement of management quality, development of interactive services for the Company's customers as well as customer feedback system was carried out. The basis of management of IDGC of Volga, PJSC has always been the principles of reliability, openness, accountability of management bodies, observance of shareholders' rights, efficiency and customer focus. In his address to shareholders, Director General of IDGC of Volga, PJSC Vladimir Ryabikin said: "In 2018, the most important task of the Company was the beginning of the systematic implementation of the concept of digital transformation developed by PJSC Rosseti.

Within the investment activities of IDGC of Volga, PJSC in the year 2018, the preparation of the main substation equipment for the introduction and development of digital technologies was carried out. Special attention was paid to the implementation of the program of transfer to smart electricity metering. IDGC of Volga, PJSC is open for new ideas and is ready to use the most advanced technologies. I am sure that the Company's potential, continuous professional growth of the team, professional development, acquisition of new knowledge and skills, the expertsí experience and the enthusiasm of the younger generation will continue to contribute to the dynamic, innovative development of the Company". At the meeting, the results of the production and financial activities of the Company for 2018 were summed up. A new composition of the Board of Directors and the Audit Commission of the Company ware elected.

The amended Charter of IDGC of Volga, PJSC, Regulations on the Board of Directors, on the General Meeting of Shareholders, on the Company Management, on Payment of Remuneration and Compensation to the Members of the Board of Directors of IDGC of Volga, PJSC were approved. The issue of profit distribution and dividend payment was considered. The auditor of the Company was elected. During the meeting, decisions were made on all issues of the agenda.

Complete information on the decisions taken by the Annual General Meeting of Shareholders of IDGC of Volga, PJSC is disclosed by the Company in accordance with the legal requirements on the website of the authorized information agency http://www.e-disclosure.ru/portal/company.aspx?id=12131, as well as on the corporate website of the Company http://www.mrsk-volgi.ru.

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