May 21, 2019. 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 May 17, 2019.

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The Board of Directors resolved to convene the AGM on June 28, 2019 in Moscow at the following address: 127137, 12, Krasnopresnenskaya Embankment, International Trade Centre (ITC), Entrance No. 4, Congress Center, 2nd Floor, Conference Hall. The record date for AGM participation is June 3, 2019.

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The Board terminated the powers of Sergey Ivanov, Deputy Chairman of the Board of Directors and elected Nikolay Rogalev, chancellor of Moscow Power Engineering Institute, Federal Research University, as Deputy Chairman of the Board.

Nikolay Rogalev, Doctor of Technical Science, Professor, is a recipient of the Russian Federation State Prize in the fields of science and technology and education. He is the President of the Scientific and Technical Council of the Unified Energy System Noncommercial Partnership.        

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The Board of Directors approved the report on divestment of non-core assets in the first quarter of 2019 and approved the gratuitous transfer of the hospital bulk in Seichman village to the Magadan region.

The new hospital bulk was built in course of construction of Ust-Srednekanskaya HPP for social and cultural purposes to increase availability of health services for the local population and eliminate shortage of aid treatment units in the facility. The bulk includes an infectious disease ward with laundry room, pharmaceutical warehouse and process areas. Engineering and construction of the building complies with the latest medical technical requirements.

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The Board of Directors set the deadline for review of RusHydro’s technological development results in comparison with the leading peers at 30 days after approval by the Ministry of Energy of the Russian Federation and Interdepartmental Committee for Technological Development with the Presidium of the Council under the President of the Russian Federation for Economic Modernization and Innovation Development of Russia.  

The goal of the review lies in analysis of the leading cutting-edge technologies in conjunction with their utilization at RusHydro and preparation of proposals to update the Group’s Innovative Development Program as well as its KPIs. Analysis of financial performance as well as the level of technological development of the leading peers was taken into account in the course of the review. The Group’s Innovative Development Program will be updated once the review is approved by the Ministry of Economic Development of Russian Federation and the Ministry of Energy of Russian Federation.

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The Board of Directors approved the report on execution of Innovative Development Program of RusHydro Group for 2018.

Its financing including R&D amounted to RUB 659 mn. Thirty-four proposals for innovative projects came via single window system were reviewed out of which twenty were selected for possible implementation. The Group purchased innovative technological products for RUB 415.8 mn out of which RUB 224.7 were from small and medium-size businesses. All products purchased were domestically manufactured.

PJSC RusHydro’s KPI for innovation activity reached 96% as compared to the plan of 85%.