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ROSSETI

May 30, 2014

Russian Gridsí Board of Directors meeting

At the meeting of Russian Gridsí board of directors on 29 May 2014, the performance of Russian Grids enterprises in autumn-winter period of 2013-2014 was summarized. Also on the agenda were proposals for improving local planning and long-term placement of power grid facilities, formulation of energy-efficiency programs, boosting the energy efficiency of Russian Gridsí subsidiaries and affiliates, a report on the implementation of the business plans of Russian Gridsí subsidiaries and affiliates for 2013, and the company's economic policy.

The performance of the Russian Grids Group in fall and winter 2013/2014 years was declared a success by the board of directors. Last year, close cooperation was established between Russian Gridsí local units, not just between the companies in the same area but also between their regional neighbors.

In discussion of that issue, it was decided that as part of preparations for the fall-winter period in 2014/2015, special attention would be given to the adoption of measures to prevent accidents, reduce injuries and prevent equipment failures. Steps will also be taken to ensure that staff has been adequately trained. The quality and objectivity of accident investigations will be bolstered to prevent future accidents.

To improve grid development planning and coordinate development strategies and investment programs with the plans of Russia's executive authorities, the company decided to draft and submit proposals to change current Russian law.

The company also decided to devise and adopt a set of rules for cooperation between power companies and authorized executive bodies to reconcile investment procedures to fund power grid development.

The board outlined further action on the formation of the unified program for energy conservation and energy efficiency for 2015-2019, and it approved guidelines for the establishment of energy conservation programs and energy efficiency of its subsidiaries and affiliates, which will determine the main methodological approaches in this regard. According to the document, the plan is to reduce power losses during transmission at least by 11 % by 2018 compared to 2012. It also provides an opportunity to conduct a comparative energy efficiency analysis between the group companies.

The board also considered the financial results of Russian Grids and its subsidiaries and affiliates in 2013 and the implementation of the approved business plans. It noted that based on 2013 results, all production targets and financial benchmarks established in the business plans had been met, and the company was effectively using its material, workforce and financial resources.

The Russian Grids economic policy was approved. It includes policies having to do with business planning and accounting, finance, credit, insurance, dividends and shareholder relations and tariff regulations.

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