PJSC Rosseti INVESTOR PRESENTATION Rosseti DISCLAIMER

The information contained in this presentation has been prepared by the Company and presented on an “as is” and “as available” basis, and, consequently, you shall bear the risks associated with the use of and reliance upon such information. The recipient shall not rely upon the information contained herein, or its completeness, accuracy, or objectivity, for any purposes. The information contained herein shall be verified for authenticity, completeness, and updates.

Some information in this presentation may contain forecasts and assertions concerning future events or financial performance of Rosseti (“Company”) and its subsidiaries. Such assertions are based on numerous assumptions related to the current and future plans of the Company’s business strategy and the conditions in which such strategy will be pursued in the future. We caution you that such assertions shall not guarantee certain results in the future and are connected with risks, uncertainty, and assumptions that may not be predicted with full certainty. Consequently, the actual results and outcomes of activities may be substantially different from the presumptions or forecasts stated in such assertions with respect to any future events. Such assertions are made as of the date of this presentation and are subject to change without notice. We have no intention of updating such assertions to bring them into line with any actual results.

This is not a prospectus or advertisement of any securities. This is not an offer or invitation to sell, or a recommendation to subscribe to or buy any securities. Nothing contained herein shall form the basis for any contract or commitment whatsoever. Rosseti ABOUT THE COMPANY

THE SYSTEM-FORMING ELECTRIC GRID COMPANY OF AND ONE OF THE WORLD LEADERS IN THE ELECTRIC POWER INDUSTRY

world leader in the transportation in the ranking of the top 250 electric of electricity generated in Russia is transmitted #1 #70 78% through the networks of subsidiaries and and distribution of electricity utilities of 2019 by S&P Global Platts dependent companies of PJSC Rosseti

Key activities Geographic coverage 29 grid companies Electricity transmission and distribution 80 Russian regions geographic coverage Technological connection to power grids Industry position 802 thousand MVA transformer capacity

Transmission and Consumption 2.37 mln kilometers Generation distribution Sales power lines energy Mission 221 thousand employees number of staff Ensuring the reliability and quality of power supply at a given level

517 thousand Increase in the total return of the Company's number of substations shareholders

Ensuring resilience to changes in the global and local electricity markets Market Cap at 15.12.2020 (billion rubles) Revenue 9M2020 (billion rubles)

55.38% 100%

4.9

34.7 11.8

68.10% 50.23%

59.2 15.6

58.9 69.7

50.90% 92.62% 92.0% 84.12% 67.97% 51.52% 85.77% 50.40% 57.84% 80.14% 100%

65.8 22.9 25.7 7.2 12.6 12.15 1.6 27.1 34.9 271.5

116.4 36.7 19.3 28.7 44.0 63.9 4.9 68.9 41.9 173.5 43.6 Rosseti CAPITAL STRUCTURE AND CORPORATE GOVERNANCE

Increasing transparency and using the best Russian and international practices 5 out of 15 members of the Board of Directors are represented by independent Board of Directors experts; Novak A.V. Rogalev N.D. Shmatko S.I. 3 out of 4 committees are chaired by independent directors with years of Deputy Prime Minister Rector of the State Federal- Special Representative of the of the Russian Funded Educational Institution of President of the Russian experience in energy, market regulation and entrepreneurship; Federation Higher Professional Training Federation for International 2 out of 4 committees are fully independent directors; National Research University Cooperation in the field of electric power industry developed anti-corruption compliance practice aimed at increasing business MPEI transparency and protecting the interests of stakeholders. Manevich Yu.V Furgalskiy V.V. Deputy Minister of Head of the Department for Ayuyev B.I. Energy of the Russian Corporate Policy and Property Chairman of the Managing Board Federation* Relations in the Fuel and Energy of System Operator of the United Sector of the Russian Ministry of Power System JSC Further steps to strengthen corporate governance Energy

Murov A.E. Livinskiy P.A. Approval of a new dividend policy aimed at long-term growth in shareholder value First Deputy General Rasstrigin M.A. Chairman of the Managing Board, Approval of an option policy to motivate management Director - Executive Deputy Minster of Economic Chief Executive Officer of Rosseti Director of PJSC Development of the Russian PJSC ESG policy implementation Rosseti Federation

Dmitriev K.A. CEO, Russian Direct Investment Fund Shareholder structure (RDIF) 11.96% Independent Directors Bystrov M.S. 3.87% 5.49% 2.60% Kalinin A.S. Sharonov A.V. President of All-Russian Sergeyevich President of Skolkovo Non-governmental Chairman of the Managing Business School The state Organization for Small Board of NP Market Council Association 88.04% Legal Entities (residents) and Medium Business Legal Entities (non-residents) OPORA RUSSIA, non- Ashirov S.O. executive director Chief Executive Officer of Free float Free Individual investors Dubnov O.M. Energosbyt JSC Vice President, Executive Director of the Cluster of Energy Efficient Technologies, Skolkovo Foundation Listing MOEX

Ticker: RSTI, RSTIP Ticker : RSTI * position indicated at the time of election Rosseti KEY FIGURES & HIGHLIGHTS OF 9M 2020

719.3 228.3 82.0 421.0 172.2 Bln RUB Bln RUB Bln RUB Bln RUB Bln. RUB Net cash flow from Revenue EBITDA* Net profit* Net debt operating activities

Social responsibility and geographic diversification allow the company to have a more stable base of energy consumers. Operating Efficiency High profitability of core business.

Self sufficient funding of Investment Program. Investments Coordinated work by Rosseti Group on implementation of legislative initiatives as well as changing approaches to the formation of investment program will allow for increase of return on investments.

Index and methodology of digital transformation of Rosseti Group have been devised. Digital ”Digital transformation 2030” program for Rosseti Group in the implementation stage. transformation

Given the interim dividends for the first quarter of 2019 (5 bln rubles), the total amount of dividends paid will be 23 bln rubles. Dividends New transparent dividend policy is one of the top priorities of Senior Management of the Company

High credit ratings from global and national rating agencies Low debt and high liquidity are the results of successful implementation of financial policies Financial Stability No exposure to currency exchange risk

*. Adjusted EBITDA calculated as profit before interest expense, taxation, depreciation less impairment of fixed assets, as well as income from the exchange of assets with DVEUK JSC for 9 months of 2019. *. Adjusted profit, calculated as profit for the period less impairment of property, plant and equipment, profit from the exchange of assets of DVEUK JSC for 9 months of 2019, taking into account the corresponding amounts of deferred income tax. Rosseti KEY EVENTS 9M 2020

On May 15, 2020 the functions of a sole executive body in a subsidiary of PJSC FGC UES were transferred to PJSC Rosseti.

General meeting of shareholders decided to pay a record dividend for 2019 in the amount of 17.99 billion rubles. Given the interim dividends for the first quarter of last year (5 billion rubles), the total amount of dividends paid will be 23 billion rubles. BCS Global Markets Analysts have included PJSC Rosseti shares in the list of favorites (TOP Outperformance) in connection with the company's decision to pay historically high dividends, noting the improvement of the company's investment attractiveness. AKRA rating agency confirmed the credit rating of Rosseti on the national scale at the level of AAA (RU), outlook "Stable”.

In 2020, the PJSC Rosseti placed bonds with a total nominal value of 88 billion rubles, issued by Rosseti, Rosseti FGC UES, Rosseti Region, Rosseti Lenenergo, Rosseti Center and Rosseti Center and Volga region ". At the same time, Rosseti received the Best Primary Placement Deal in the Energy Sector in 2020 for the issue of BO-001R-02 series bonds within the framework of the XVIII Russian Bond Congress Cbonds.

Rosseti shares attained record levels. The price of ordinary shares reached 1,7627 rubbles per share during trading on 2 June, 2020, the price of share of preferred stock reached 2.47 rubles.

Ordinary shares of PJSC Rosseti are included in the calculation base of the main (IMOEX) Index, which confirms the attractiveness of the company's shares for potential investors. Rosseti KEY FINANCIAL RESULTS 9M 2020

Rosseti shows high financial stability as 9M 2020 Revenue structure 9М 2020

9M 2020 9M 2019 Change 3% 2% Indicator Electric power transmission RUB bln RUB bln RUB bln % 8% Revenue 719.3 734.2 (14.9) (2.0) Sales of electric power and capacity Operating expenses (614.5) (609.1) (5.4) 0.9 Connection services EBITDA (adj.)* 228.3 236.6 (8.3) (3.5) 87% Other revenue Net profit (adj.)* 82.0 89.6 (7.6) (8.5) and Revenue from leases Net debt 421.0 422.8* (1.8) (0.4) Net cash flow from operating 172.2 178.2 (6.0) (3.3) activities The main factors influencing the dynamics of financial indicators The overall decrease in revenue from electric power transmission and from sales of electric power and capacity was caused by:

• a general decline in business activity due to restrictive measures on the territory of the Russian Federation aimed at combating the spread of COVID-19, abnormally warm winter period; • the termination of the guaranteeing supplier function by certain subsidiaries of the Group.

Revenue from technological connection to the grids increased in accordance with the schedule for the services provision determined by the customers' requests.

Increase in other revenue mainly from general contractor service agreements of the subsidiaries of PJSC FGC UES as a result of changes in the percentage of work completion in different stages of construction projects.

1. EBITDA is calculated as profit or loss before interest expense, taxation, depreciation and amortization less losses from impairment of fixed assets and gains from exchange of assets with JSC DVEUK in 9M 2019. 2. Profit is calculated as adjusted profit for the period less losses from impairment of fixed assets and gains from exchange of assets with JSC DVEUK in 9M 2019. 3. Data as of December 31, 2019 Rosseti MARKET PERFORMANCE

Trading volume for PJSC Rosseti ordinary shares, RUB bln • Ticker (MOEX): 2020

– RSTI / RSTIP 2019

15.91 14.80 Common shares of PJSC Rosseti are listed on the Moscow

• 12.44

12.02 10.53

Stock Exchange: 9.99

9.51 9.32

– I listing level 8.11

6.71

6.58

6.35

6.22

5.83

5.27

4.67 4.67

– Market cap – 333,2 billion rubles (as 15.12.2020) 4.34

3.78 2.48

– Free-Float – 12% (as 15.12.2020) 2.15 0.88

• GDR (Reg.S) listed on the London Stock Exchange – Par value 1:200

Price dynamics of PJSC Rosseti shares in relation to the Moscow Exchange Index(MOEX) and the Moscow Exchange Electric Utilities Trading volume for PJSC Rosseti privileged shares, RUB bln Index(MOEXEU) since the beginning of 2020 2020

1,8 3500 2019 1,7 3000

1,6 1.28

1,5 2500 0.93

1,4 0.82 2000

1,3 0.55

1500

0.41 0.38

1,2 0.37

0.32

0.32

0.27

0.26

0.26

0.24

0.22

0.22

0.21 0.17

1,1 0.14

1000 0.13

0.08

0.06 0.05 1 500 0,9 0,8 0 Rosseti FAIR PRICE OF THE PJSC Rosseti SHARES ON MULTIPLICATIVE MODEL

Company multipliers Russian energy companies P/E P/BV Industry Market cap (bln, $) Indicator 2019 LTM* average Россети,Rosseti ао 4.53 3.83 0.27 indicator* FGCФСК UES ЕЭС 3.60 3.52 0.29 P/E 2.62 3.83 4.75 TGKТГК1-1 0.57 12.62 0.34 P/S 0.27 0.33 0.85 MosenergoМосэнерго 1.13 35.52 0.25 P/BV 0.24 0.27 0.54 EnelЭнел Russia Россия 0.44 5.68 0.80 EV/EBITDA 3.26 2.16 2.78 ЮнипроUnipro 2.47 11.05 1.37

When comparing the performance of PJSC Rosseti over the past 12 months with RusHydroРусГидро 4.61 4.57 0.54 the industry average Indicators, the company looks undervalued. InterИнтер RAO РАО 7.45 7.24 0.94 Median: 4.75x Median: 0.54x

World energy companies Forecasted values of the ordinary share price of PJSC P/E P/BV Rosseti by the multiplicative model Market cap (bln, $) 23.98 2.10 Eversource Energy 36.09 Target price, Current price, 20.10 2.02 Model Potential Iberdrola 86.53 RUB/share RUB/share* 20.75 1.69 National Grid 37.10 0.88 P/E 2.07 1.676 23.2% Electricite de France SA 47.08 24.45

EV/EBITDA 2.69 1.676 60.6% 99.38 19.68 2.84

Red Electrica 10.97 12.91 2.54 Terna Rete Elettrica 14.83 15.91 2.84 * Data calculated based on EBITDA; Net profit and revenue for the last 12 months (2019Q4 – 2020Q3); Nazionale SpA * Median value calculated for 5 energy companies with similar multiples and capitalization; Elia 7.68 25.80 1.94 *15.12.2020 Median: 20.45x Median: 2.06x Rosseti DEBT PROFILE

A balanced approach to loan portfolio management and financial sustainability Financial Debt In the conditions of new economic challenges, a balanced financial policy allows maintaining the flexibility and stability of the business, which is confirmed by high credit ratings: 900 7.2% 7.0% 8% The Group’s debt portfolio is dominated by long-term borrowings with the average 5.9% maturity of debt at over 8 years and no FX risk (100% of the debt portfolio is 600 2 6% 38 44 denominated in Russian Rubles); 327 298 323 300 4% The weighted average interest rate of the Group’s debt portfolio is 5.9%, 1.1 p.p. lower 239 226 202 than the lending rates in the Russian Federation2; 0 2% 2018 2019 9м2020 140 billion rubles - long-term bonds (2045-2048) at the CPI rate + 1% ОбязательстваLease obligations по аренде ПубличныеPublic borrowings заимствования (debt loans) (облигационные займы) Consistent net debt reduction - 421 billion rubles. A comfortable repayment schedule КредитыLoans and и прочие borrowings, обязательства and other financial liabilities with peak debt payments after 2022; СредневзвешеннаяThe Group’s weighted ставка average Группы interest на конец rate периода at the end of the period Investment-grade credit ratings from two major global agencies.

Debt repayment structure 1, RUB bln Credit ratings correspond to those of the Russian Federation BBB- Sovereign rating level Stable Outlook

Baa3 Sovereign rating level Stable Outlook 102 57 8 AAA Prime rating level Stable Outlook 2020 2021 2022 2023+

1. Repayment of the principal debt on loans and borrowings is presented (excluding accrued but not paid interest) 2. According to the Central Bank of the Russian Federation for June 2020. for loans to corporate borrowers for a period over 3 years Rosseti PRICE FORMATION AND TARIFFS ON THE RUSSIAN MARKET

Consistent industry transformation

Since 2010, tariff regulation has been carried out on the basis of the method of Regulatory Asset Base (RAB), a system of long-term tariff planning aimed primarily at stimulating investment in the development and modernization of infrastructure.

Who sets the tariff? Tariff growth rate

Distribution grid complex Tariff, % CPI Federal level Regional level tariff, % Тариф, % ИПЦ 7.1% 6.3% 6.2% 5.2% 3.4% 2.9% Tariffs for services for the transmission of Tariffs for services for the transmission electricity through backbone networks of electricity through distribution 1 July 1 July 1 July 1 July 1 July 1 July networks 1 июля 1 июля 1 июля 1 июля 1 июля 1 июля 2015 2016 20172017 20182018 2019 2020

Electricity transmission tariffs are set according to voltage levels and consumer groups: Transmission grid 7.5% 7.5% Industrial consumers - two-part tariffs. The calculation base is complex tariff, % 5.5% 5.5% 5.5% 5.5% the declared capacity and electricity supply to consumers. Population - one-rate tariffs. Calculation base - electricity supply. 11 Julyиюля 1 Julyиюля 11 июляJuly 11 July июля 1 июляJuly 11 июляJuly 20152015 20162016 20172017 20182018 20192019 20202020 Rosseti KEY OPERATING HIGHLIGHTS

Sustainable operating results and reliability

Useful supply for the Rosseti group of companies, bln kWh Reduction of electricity losses during transmission,% of supply to the grid 1,74%

2% 0.65 p.p.

748 761 763

9.22 8.95 8.57 8.44

366

2017 2018 2019 6м2020 2017 2018 2019 6м2020

From 2017 to 2019 productive supply increased by 2%, while electricity losses decreased by 0.65 p.p. Rosseti INVESTMENT PROGRAM 2020-2024

Investments in the industry innovative development and new business areas

Cost parameters of the investment program Aggregate funding Sources of financing

307.90 9% 12% 293.0 289.2 12% 9% 252.0 1 114 bln 238.7 230.2 49% 5% RUB 172.0 180.2 159.4 30% (with VAT) 74% 118.8

МодернизацияModernization основныхof fixed assets средств СобственныеOwn funds* средства* ТехнологическоеTechnological connection присоединение ПривлеченныеInvolved funds средства Network development Развитие сетей ПлатаPayment за ТПfor TP ПрочиеOthers Others 2020 (план)(plan) 2021 (план)(plan) 2022 (план)(plan) 2023 (план)(plan) 2024 (план)(plan) Прочие Финансирование,Financing, RUB bln млрдVAT руб. included с НДС ВводCommissioning основных фондов,of fixed assetsмлрд руб., billion rubles * Equity includes depreciation and investment income (tariff sources)

Commissioning volumes 23 238 20 208 18 866 19 338

15 378 15 113 13 643 11 397 8 827 6 534

2020 (план)(plan) 2021 (план)(plan) 2022 (план)(plan) 2023 (план)(plan) 2024 (план)(plan) Input of transformer capacity, MVA Input of power lines, km2 Rosseti DEVELOPMENT STRATEGY OF THE PJSC Rosseti UNTIL 2030

Transition to a business model of a modern technological and innovative infrastructure

1 Ensuring the reliability and 2 3 Ensuring resilience to changes in the global quality of power supply Improving total shareholder return and local electricity market at a given level Technological and innovative development Ensuring further improvement in operational and Promotion of legislative initiatives to improve pricing in 2 Digital transformation investment efficiency the industry Business diversification Increasing investment attractiveness and shareholder Increasing market share of network services Ensuring information and technological security value Development of international activities HR development

Long-term targets of Strategy 2030 *

Reducing losses in power SAIFI reduction SAIFI reduction grids Share of non-tariff revenue Labor productivity growth to 1.6 to 0.85 to 7.34% >20% by 40%

Decrease in specific Market share by Required Decrease in specific OPEX CAPEX ROIC Capitalization growth up to gross revenue by 30% by 15% >15% to ₽1 trillion >90%

Interim targets of the Strategy are defined for 2024 Rosseti REGULATORY ACTIVITIES AND INITIATIVES

Russia Energy Strategy until Approved 2035

Company Development Strategy Approved. (protocol dated 26.12.2019 No. 388). In the main parameters it corresponds to the Fuel and Energy Complex 2030 Strategy. Work is underway to develop a DPR Rosseti Group (implementation tool)

Digital Transformation 2030 Approved for subsidiaries and affiliates

Cross-subsidization Active legislative work is underway with federal authorities Regulatory Initiatives Power reserve

Preferential technical connection

Long-term tariff agreements Federal Law No. 300-FZ dated 02.08.2019 was adopted. Necessary by-laws are being developed

Intelligent accounting systems Federal Law No. 522-FZ of December 27, 2018 was adopted.

Company dividend program The project has been prepared. Sent for consideration to federal executive authorities.

Company option program The project has been prepared. Sent for consideration by the Board of Directors of PJSC Rosseti 16 Rosseti SUSTAINABLE DEVELOPMENT

Company strategic priority and contribution to the development of future generations

Sustainable development is a strategic priority for Rosseti, and the company's approach to GOOD HEALTH QUALITY AFFORDABLE AND DECENT WORK AND following ESG principles is becoming more organized and structured; AND WELLBEING EDUCATION CLEAN ENERGY ECONOMIC GROWTH The company is involved in achieving 8 of the 17 UN goals Company priority areas in the field of sustainable development: • Development of employees and society, creation of decent and safe working conditions INDUSTRIALIZATION, SUSTAINABLE RESPONSIBLE PRESERVATION • Creation of high-quality and affordable services for consumers INNOVATION AND CITIES AND CONSUMPTION OF THE EARTH INFRASTRUCTURE LOCATIONS AND PRODUCTION ECOSYSTEM • Improving operations and creating value

Commitment to sustainable development

Rosseti Rosseti Rosseti 2017 2020 2023

Strategies and goals for specific areas (eco / Sustainable development strategy integrated into the The environmental policy of the power grid company's business model, ESG risk assessment Strategy complex was approved social).

Securities are included in the calculation bases: Securities are included in the calculation bases: Sustainable development rating Verification FTSI4GOOD FTSE4GOOD, RSPP, RA-Expert, AK&M

Reporting Separate sustainability report Separate sustainability report Separate sustainable development report or integrated corporate report Rosseti

APPENDIX

18 Rosseti COMPANY IN THE COVID-19 PANDEMIC

Rossetti in comparison with companies from different sectors *: What the company is going through the pandemic with *:

An impressive liquidity reserve SIBUR Holding -6.60% NLMK -16.77% Unprecedentedly low rates for attracted financing 4.13% -34.28% Unused balance on credit lines - RUB 656 billion (as of 01.12.2020) -30.69% Alrosa -29.66% Comfortable level of debt burden (net debt / EBITDA adjusted - MTS 4.99% 1.84) 11.85% -55.31% Moderate drop in revenue (within 2-3% yoy) RZD -12.31% Atomic Energy Power Corporation 1.28% Plans to reduce the Group’s investment program by 10-20% -39.28% RusHydro 7.16% -8.47% Inter RAO -5.41% Rosseti -2.03%

-60% -50% -40% -30% -20% -10% 0% 10% 20%

Median –7,54%

* Revenue dynamics on 30.09.2020 Rosseti Rosseti DIGITAL TRANSFORMATION

DIGITAL TRANSFORMATION TASKS: Ensure the company's adaptability to new challenges 14 November 2017, during a visit to PJSC Rosseti, the President Improve power supply reliability characteristics of the Russian Federation supported the proposal for the Increase the efficiency of the company implementation of measures for the digital transformation of the Increase the availability of power grid infrastructure company;

GOAL: Digital transformation - changing the logic of processes and transition to risk-oriented company management based on 7 May 2018, Decree of the President of the Russian Federation digital technologies No. 204 "On national goals and strategic objectives of the development of the Russian Federation for the period up to 2024“ As part of the digital transformation, the company launched 9 and completed 4 pilot projects. 15 pilot projects are planned to be launched in 2021Q1.

21 December 2018, the Board of Directors of PJSC Rosseti approved the Concept "Digital Transformation 2030“ A digital transformation index has been developed for the Rosseti Group.

29 May 2020, the Board of Directors of PJSC Rosseti approved the Program "Digital transformation of the Rosseti group of companies for the period up to 2030" More than 30 standards of digital transformation have been approved, a set of standards "Digital distribution network" is being developed. Rosseti IMPLEMENTED DIGITAL TRANSFORMATION PROJECTS 2017-2020

Electric charging station Digital area of electrical Digital substations, networks, 84 incl. Tobol 500 kV, 251 for transport 38 incl. Mamonovskiy RES in Vasileostrovskaya 330 Installed electric charging the Kaliningrad region, kV, Port 220 kV, stations Valdai Distribution Zone in the Novgorod Region Molodezhnaya 110 kV, Stream 35 kV, etc.

Digital Network Control Pilot projects Centers, Ongoing digital >2 000 000 22 incl. in Izhevsk, 13 transformation pilot projects smart metering devices, Voronezh, Kursk with integration into a unified collection and analysis system -> Big Data

2 >30 model1 ADMS (SCADA) CIM Approved digital transformation standards Implemented model 35 kV and above Project was launched to develop a domestic distribution network management system 3 Development of 11 sections Digital Distribution Network Standard

Digital electrician Services for clients Implemented the pilot functionality of the Digital Electrician Launched a mobile application for clients, a system in 2 subsidiaries - Rosseti Moscow Region and Rosseti technological connection portal North-West

1. CIM (Common Information Model) - a method (language) for describing the elements of power grid objects in a format understandable for humans and machines 2. ADMS (Advanced Distribution Management System) - a system of operational technological management of distribution networks SCADA (Supervisory Control And Data Acquisition) is a software package designed to develop or provide real-time operation of systems for collecting, processing, displaying and archiving information about a monitoring or control object 3. 2022 - the beginning of the full-scale work of the functionality with the subsequent entry into international markets