Board of Directors of RusHydro Elected Yury Trutnev As Chairman of Board

OREANDA-NEWS. PJSC RusHydro announces that the Company's Board of Directors held a meeting in absentia on August 10, 2016.

The Board of Directors elected Yury Trutnev, Deputy Chairman of the Government of the Russian Federation — Plenipotentiary Representative of the President in the Far Eastern Federal District as a Chairman of the Board of Directors of PJSC RusHydro. The Board of Directors elected Sergey Ivanov, General Director, Member of the Board of Directors of LLC RT Capital, as a Deputy Chairman of the Board of Directors of PJSC RusHydro.

The Board of Directors considered the report on changes to the development plans of the company, ensuring priority execution of activities aimed at social and economic development of the Far East. The changes were made following the Russian Government’s Directives from June 28, 2016.

The Board of Directors commissioned management to amend regulations on procurement of goods for PJSC RusHydro as well as ensure similar amendments to procurement regulations of subsidiaries until October 1, 2016.

The amendments are aimed at ensuring import-substitution of purchased software.

The Board of Directors commissioned Chairman of the Management Board Nikolay Shulginov to amend the Long-term development of the Company to include measures aimed at 10% decrease of operating expenses in 2016.

The Board of Directors considered the amended regulations on management of non-core assets, execution plan of divestment of non-core assets, report on divestment of non-core assets in 2015.

The Board also commissioned Nikolay Shulginov to send the draft plan on prospective divestment of non-core assets to the Federal Agency for State Property Management.

The Board of Directors commissioned Nikolay Shulginov to submit to the Board of Directors the 2016-2020 Innovations program no more than 30 days after its approval by regulators.

The Board of Directors approved the agreements with the Moscow Energy Institute, JSC GNIVTC and The Russian Union of Industrialists and Entrepreneurs (RSPP) as interested-party transactions.