Results of the Board of Directors Meeting on February 21, 2022

 

PJSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) announces that the Company's Board of Directors held a meeting in absentia on February 21, 2022.

 

Resolutions passed on Items of the agenda:

 

Item 1. Approval of Action Plan Progress Report on Company Non-Core Assets Sale for 2021.

Adopted Resolution:

To approve the Action Plan Progress Report on Company Non-Core Assets Sale for 2021 as per Schedule No. 1 to the Minutes.

 

Item 2. Approval of a Transaction Related to the Gratuitous Transfer of the Company's Property to Third Parties.

Adopted Resolution:

The signing of the Agreement on Gratuitous Transfer of Property (donation) (hereinafter, "the Agreement") is approved on the material terms as follows:

Parties to the Agreement:

The Donor - the Company;

The Donee - the Russian Federation represented by the Interregional Territorial Department of the Federal Agency for State Property Management for Krasnoyarsk Krai, Republic of Khakassia, and Republic of Tyva.

Subject matter of the Agreement:

The Donor shall gratuitously transfer, and the Donee shall assume ownership over the movable property object - wheel of the ПЛ 20-В-1000 axial-flow propeller-type hydraulic turbine of power turbine 1 of Maynskaya HPP (hereinafter, "the Property") for subsequent assignment to the Federal State Autonomous Educational Institution of Higher Education Siberian Federal University (FGAOU VO Siberian Federal University).

Intended use of the transferred Property:

for the Sayano-Shushensky Branch of FGAOU VO Siberian Federal University.

 

Item 3. Amendments to the Technical Policy of the RusHydro Group.

Adopted Resolution:

To amend the Technical Policy of the RusHydro Group approved by the resolution of the Board of Directors of the Company (Minutes No. 307 as of April 10, 2020) as per Schedule No. 2 to the Minutes.

 

Item 4. Approval of Timetable for RusHydro Internal Audit Service Control Measures for 2022.

Adopted Resolution:

To approve the Timetable of Control Measures of the RusHydro Internal Audit Service for 2022 as per Schedule No. 3 to the Minutes.

 

Item 5. Consideration of Issues of Material Importance for the Company:

Adopted Resolution:

1.  To amend the Unified Regulations on the Procurement of Products for the Needs of the RusHydro Group, approved by the resolution of the Board of Directors of the Company (Minutes No. 336 dated November 26, 2021) as per Schedule No. 4 to the Minutes, including:

- in terms of inclusion in the list of cases of procurement from a single supplier (preparer, contractor) the case of procurement of products from a military industrial complex organization with no analogues produced in the Russian Federation subject to an opinion issued by the Ministry of Industry and Trade of the Russian Federation on classifying products as industrial products with no analogues produced in the Russian Federation.

2. To instruct the Chairman of the Management Board - General Director of the Company, to ensure:

2.1. that information on the adoption and pursuance of this resolution is posted on the Interdepartmental Portal for State Property Management on the Internet informational and telecommunication network within 10 business days as from the date of adoption of this resolution;

2.2. the controlled companies having acceded the Unified Regulations on the Procurement of Products for the Needs of the RusHydro Group are notified of the respective amendments within 10 business days as from the date of adoption of this resolution.

 

 

About RusHydro

 

RusHydro is Russia's largest power company by installed capacity. It is the country's largest hydrogenerating company and the third in the world with over 400 generating facilities. RusHydro Group is the leading producer of renewable energy in Russia with total electricity generation capacity of 38.2 GW.

 

For more information:

Investor Relations Department

Tel. +7 (495) 122 0555 ext. 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 RusHydro. You can identify forward looking statements by terms such as "expect," "believe," "anticipate," "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 conditions, our competitive environment, risks associated with operating in Russia, rapid technological and market change in our industries, as well as many other risks specifically related to RusHydro and its operations.