ANNUAL REPORT for 2009 Open Joint-Stock Company the Sixth Wholesale Power Market Generating Company

ANNUAL REPORT for 2009 Open Joint-Stock Company The Sixth Wholesale Power Market Generating Company

Annual report of JSC “OGK-6” for 2009 Preliminarily Approved by the Board of Directors of JSC “OGK-6” 2009 (Minutes No. 37)

General director A.A. Mityushov

Chief accountant B.Z. Dolgoarshinniykh

Contents

4 6.3. Information on Securities The Address of the Chairman of the JSC “OGK-6” Board of Directors 6.4. JSC “OGK-6” Security Trading Results in 2009 Denis Vladimirovich Fedorov 98 5 7. Structures and Principles of Corporate Governance The Address of the General Director of JSC “OGK-6” 7.1. Principles and documents Alexey Alexandrovich Mityushov 7.2. Information on Administrative and Control Bodies 6 124 1. Information on the Company and its Position in the Industry 8. Our Team 1.1. A Brief Review of the Company’s History 8.1. Personnel Structure 3 The Company’s Priorities 8.2. Remuneration 1.2. Information on Plants 8.3. Pension Program 1.3. Main Events of 2009 1.4. Information on Risks and the Risk Management System 130 9. Environmental Protection 30 9.1. Environmental Protection Actions 2. Financial and Economic Performance Overview 9.2. Air Emissions of Pollutants 2.1. Revenue 9.3. Waste Formation and Storage 2.2. Production Cost 9.4. Water Consumption 2.3. Other Expenses and Income 2.4. Profit 136 2.5. Balance Structure 10. Financial Statements 10.1. Audit Report for 2009 Statements in Accordance with Russian 44 Accounting Standards (RAS) 3. Industrial Activity 10.2. The Company’s 2009 Financial Statements in Accordance with Russian 3.1. Electricity Generation Accounting Standards (RAS) 3.2. Heat Generation 10.3. Audit Report for 2009 Financial Statements in Accordance with 3.3. Specific Consumption of Equivalent Fuel (SCEF) International Financial Reporting Standards (IFRS) for Generation of Electricity and Heat 10.4. The Company’s 2009 Financial Statements in Accordance with 3.4. Fuel Consumption International Financial Reporting Standards (IFRS) 3.5. Power Generation Equipment Maintenance and Repair 150 58 11. Appendices 4. Sales of Electricity and Heat Appendix 1. 4.1. Information on the Electricity Market Structure Information on Observance of the Code of Corporate Conduct 4.2. System of the Company’s Contracts on the Wholesale Electricity by JSC “OGK-6” and Capacity Market Appendix 2. 4.3. Electricity Supply Information on Major Transactions and Related Party Transactions 4.4. Capacity Sales Concluded by JSC “OGK-6” in 2009 4.5. Heat Supply Appendix 3. 4.6. Electricity, Capacity and Heat Sales Revenue Structure JSC “OGK-6” Primary Equipment Characteristics 76 172 5. Investment Activities 12. Contact Information 5.1. Large-scale Investment Projects 12.1. Company Details 5.2. Modernization of the Existing Industrial Facilities 12.2. Contacts for Shareholders and Investors 5.3. The Results of Investment Activity in 2009 12.3. Media Contacts 12.4. Auditor 88 12.5. Registrar 6. Securities and Charter Capital 6.1. Structure of the Company’s Charter Capital 6.2. Changes in the Structure of the Company’s Share Capital in 2009

ОGК-6 2009 The Address of the Chairman of the JSC “OGK-6” Board of Directors Denis Vladimirovich Fedorov

Dear Shareholders, more competitive on the non-regulated market JSC “OGK-6” is one of Russia’s leading and allowed for considerable savings on fuel. generating companies. The Company is part Construction work continues at of the GAZPROM Group which is the largest Novocherkasskaya GRES on unit No. 9 using producer of electricity in Russia. GAZPROM has circulating fluidized bed technology. CFB 4 an unprecedented investment program which technology allows cheap local coal to be used, is aimed at construction and modernization making the plant more environmentally friendly. of capacities in order to renew the country’s It is by no means inconsequential that a electric power industry. substantial portion of the equipment used Our priorities include implementing the most in implementing all these projects was advanced technologies which will signal a new manufactured in Russia. stage in both gas and coal-fired generation. In 2009, the Company performed The introduction of modern combined successfully: it provided uninterrupted cycle technology at OGK-6 plants means generation of energy and net profit grew 3.5 bringing standards of PF for power units to times. This was the result of the combined a considerably higher level, considerably efforts of the Board of Directors and company reducing fuel consumption, significantly executives, aiming to increase the effectiveness improving the plants’ ecological indicators of management, reduce operational costs, and the efficiency of energy production. Thus, improve organizational structure, ensure implementing the CCGTU-420 investment financial stability and improve cooperation with project at Ryazanskaya GRES increases the infrastructural organizations. PF of the power unit from 39 to 44% and the OGK-6’s performance continues to CCGTU-800 at Kirishskaya GRES from 33 to strengthen our confidence that the task of 55%. increasing the economic effectiveness in In 2009, the major modernization of power Russian electricity generation will succeed. unit No. 7 at Novocherkasskaya GRES was I am confident that the Company’s focused completed. It allowed the fuel mix to be fully development will result in a significant diversified so that the plant could work with contribution to establishing a state-of-the-art both coal and gas, which made it a great deal electric power sector in Russia. The Address of the Chairman JSC “OGK-6” Board Directors

ANNUAL REPORT The Address of the General Director of JSC “OGK-6” Alexey Alexandrovich Mityushov

Dear Shareholders, As a result, in 2009, the Company performed 2009 was a difficult year for the entire well both financially and economically. Through Russian economy. In the wake of the recession reducing electricity generation, revenue in the industrial production sector, electricity remained close to 2008 levels while profit consumption fell by 5%. As a result, the grew 3.5 times to 2,813 million roubles. The generation of electricity at JSC “OGK-6” plants main financial and economic performance 5 likewise fell. data (such as liquidity and financial soundness In these conditions, the Company’s indicators, level of accounts payable and management carefully studied the changes accounts receivable) serves as evidence of which had taken place and tried to use all Company stability. The low debt level reflects available opportunities to increase work the Company’s solvency and purchasing power. efficiency. With the reduction in energy While striving to improve financial and consumption came a reduction in prices on economic indicators, the JSC “OGK-6” team the non-regulated segment of the market. At has not neglected its central task — to provide the same time, changes in market conditions reliable and uninterrupted generation of allowed the Company to generate income. electricity. In order to achieve this, overhaul and Reducing the loading of our plants reduced mid-life repairs of equipment with capacities of generation of electricity however this was 2,093 MW and steaming capacities of 7,680 tons accompanied by a significant drop in costs in per hour were carried out. The management of the purchase of fuel. repair processes which took into consideration JSC “OGK-6” performance in cost the priority of measures, raising the management was remarkable. In 2009, requirements for contractors and suppliers of production costs fell by 10%. This was equipment, the regulation of planning processes possible thanks not only to cost reductions and the progress of repairs allowed the past year due to the decrease in generation but also to to remain accident-free. the introduction of modern technologies. For In conclusion, 2010 will be a year for testing example, when implementing a fuel strategy, the capabilities of the entire Company team: the Company introduced mathematical energy consumption is increasing once more modelling methods in order to formulate as well as the share of the non-regulated medium-term energy consumption forecasts. market; the CCGTU-420 investment project This prevented the build up of surplus at Ryazanskaya GRES will be completed and fuel reserves in warehouses and reduced CCGTU-800 at Kirishskaya GRES will enter its the amount of “frozen” current assets. final stage. We are prepared to do whatever Furthermore, by creating a competitive is necessary in order to achieve our primary environment and entering into long-term goals: reliable and uninterrupted generation of

agreements, the Company was able to reduce electricity and capacity and securing profits for The Address of the General Director JSC “OGK-6” the 2008 prices of several types of coal. our shareholders.

ОGК-6 2009 the power of dreams 1 Information on the Company and its Position in the Industry

1.1. A Brief Review of the Company’s History The Company’s Priorities 1.2. Information on Plants 1.3. Main Events of 2009 1.4. Information on Risks and the Risk Management System

Dreamers can change the world, those who sincerely believe that things can be better and try with all their might to make dreams come true. 1

Information on the Company and its Position in the Industry

1.1. A Brief Review of the controlling stock of JSC “GRES-24” and JSC The total installed electric capacity of Company’s History Cherepovetskaya GRES were also contributed the plants constituting JSC “OGK-6” The Company’s Priorities to pay for additional shares of JSC “OGK-6”. amounts to MW. The Sixth Wholesale Power Market After the JSC-plants were joined on Generating Company Open Joint-Stock September 29, 2006, JSC “OGK-6” became 9,052 Company (JSC “OGK-6”) was founded by the a single operating company. Branches of JSC The total installed heat capacity of JSC Decree of JSC RAO “UES of Russia” dd. March “OGK-6” were created on the basis of the “OGK-6” is Gcal/h. 16, 2005 as part of reforming the electric former JSC Novocherkasskaya GRES, JSC power industry. On March 17, 2005 JSC KiGRES, JSC Ryazanskaya GRES and JSC 2,704 “OGK-6” was registered at the Inspectorate KGRES-2, JSC Cherepovetskaya GRES and of the Federal Tax Service of Russia for the JSC “GRES-24”. Leninsky District of Rostov-on-Don. On July 1, 2008 JSC “OGK-6” completed Wholesale generating companies (OGKs) its reorganization, and as a result JSC “OGK-6 were created on the basis of large power Holding” spun off from JSC RAO “UES plants belonging to JSC RAO “UES of Russia”. of Russia” and joined JSC “OGK-6”. As a The assets of JSC “OGK-6” were selected consequence, JSC “OGK-6” shares held by according to common principles for all JSC RAO “UES of Russia” were distributed wholesale generating companies. All OGKs among the shareholders of JSC RAO “UES of are created according to an extraterritorial Russia”. standard: they include plants located in Main activities of JSC “OGK-6” are different parts of the country in order to avoid generation of electricity and heat as well the possibility of one company becoming a as supplying (selling) electricity and heat monopoly in a particular region. to consumers. Within this framework JSC The total installed electric capacity of the “OGK-6” maintains operation of power plants constituting JSC “OGK-6” amounts to equipment in compliance with the current 9,052 MW. The total installed heat capacity of regulatory requirements, carries out timely and JSC “OGK-6” is 2,704 Gcal/h. quality repairs, technical modernization and As the sole founder, JSC RAO “UES of reconstruction of power facilities.

Information on the Company and its Position in Industry Russia” contributed almost 100% of the shares held by four companies to pay for the charter The Company’s Mission: capital: JSC Novocherkasskaya GRES, JSC “Reliable and effective generation and supply of KiGRES, JSC Ryazanskaya GRES and JSC electricity and heat in order to meet the needs KGRES-2, leaving in its possession one share of the public, enterprises and organizations in of each of the companies. In May 2006, the Russia.”

ANNUAL REPORT 1.2. Information on Plants1

Installed electric Installed heat capacity Main / reserve fuel / Plant name Location capacity, MW (including water boilers), Gcal/h starting fuel

Ryazanskaya GRES 2,650 180 Center UPS Gas, coal / fuel oil / gas, Units 1-6 fuel oil

Ryazanskaya GRES 310 — Center UPS Gas / no / no / Unit 1 (GRES-24) 9 Novocherkasskaya GRES 2,112 75 South UPS Coal / gas / gas, fuel oil

Kirishskaya GRES 2,100 1,234 Northwest UPS Gas / fuel oil / gas, fuel oil

Krasnoyarskaya GRES-2 1,250 1,176 Siberia UPS Coal / no / fuel oil

Cherepovetskaya GRES 630 39 Center UPS Coal / gas / gas, fuel oil

Total: 9,052 2,704

Installed Electricity and Heat Capacities of OGK-6 as of the End of 2009 (MW, Gcal/h)

2,960

2,112 2,100

1,234 1,250 1,176

630

180 75 39

RGRES NchGRES KiGRES KGRES-2 ChGRES Information on the Company and its Position in Industry

Electricity Heat

1 For a full description of JSC “OGK-6” primary equipment see Appendix 4.

ОGК-6 2009 Ryazanskaya GRES (RGRES) and GRES-24 (or unit No. 7 RGRES)

Ryazanskaya GRES and GRES-24 are located On October 8, 2008 GRES-24 with Novomichurinsk, in the town of Novomichurinsk of the Ryazan an installed capacity of 310 MW joined Ryazan Region Region, 80 kilometers south of Ryazan and 285 Ryazanskaya GRES. The UES System Operator km to the southeast of Moscow. has GRES-24 registered as a separate plant Ryazanskaya GRES is one of the five largest with its own tariffs. The primary fuel is Russian power plants in terms of installed gas, there is no reserve fuel. At present the capacity. The installed capacity of the plant is implementation of an investment project for 2,650 MW. Adding a 310 MW Gas Turbine to a Steam The first order primary fuel is: approximately Power Plant is being completed at GRES- 70% is brown coal from the Kansko-Achinsky 24. After bringing in modernized unit No. 7

Information on the Company and its Position in Industry coal basin and about 30% is brown coal from RGRES (GRES-24), its specific consumption of Podmoskovny coal basin (2BR-grade). The equivalent fuel will be 279.5 g/kWh. second order primary fuel is natural gas. The primary competitors are Mosenergo, Reserve fuel is fuel oil and starting fuel is gas TGK-4, GRES-4 (Kashirskaya) of OGK-1, and fuel oil. The 800 MW units of Ryazanskaya Kostromskaya and Cherepetskaya GRES GRES are the most effective condensation of OGK-3, GRES-5 (Shaturskaya) sources among both load following and and Smolenskaya GRES of OGK-4, baseload installations with the exception of the Konakovskaya GRES of OGK-5. Apart from 1,200 MW units of the Kostromskaya GRES. that, Novovoronezhskaya, Kalininskaya, Ryazanskaya GRES is one of the primary Smolenskaya NPP and Volzhskaya HPP supply suppliers on the regional balancing market of power into the 500 kW grid and there is flow electric power. from UPSs of the Mid-Volga and Urals regions.

ANNUAL REPORT Ryazanskaya GRES (RGRES) GRES-24 (or unit No. 7 RGRES)

2,650 MW 310 MW The installed electric capacity is The installed electric capacity is

Primary fuel — gas

180 Gcal/h 11 The installed heat capacity is

million kWh Primary fuel — brown coal 594 70% — Kansko-Achinsky coal basin Generation 30% — Podmoskovny coal basin

Reserve fuel — fuel oil 1,195 million kWh Starting fuel — gas , fuel oil Electricity Sales

6,799 million kWh 22% Electricity Generation CF

8,477 million kWh 335 gef/kWh Electricity Sales SCEF

Induded in the staff of thousand Gcal % Ryazanskaya GRES 260 29 Heat Supply CF Fuel Mix 348 gef/kWh 1,444 people SCEF Headcount Gas 100% Fuel Mix

Coal 26% Information on the Company and its Position in Industry

Fuel oil 0.2% Fuel Consumption Gas 74% Gas Coal Fuel oil Fuel Consumption 165.5 mln. m3 Gas Coal Fuel oil 1,438.4 1,375.6 4.52 mln. m3 thousand tons thousand tons

ОGК-6 2009 Novocherkasskaya GRES (NchGRES)

Novocherkasskaya GRES is located in Novocherkassk, Donskoi settlement in the Rostov Region, 53 Rostov Region km to the southeast of Rostov-on-Don. The installed capacity of the plant is 2,112 MW. The plant’s primary fuel is Ash-grade coal from the Rostov coal basin (Almaznaya mine, Chikh mine, Sadkinskaya, Gukovugol mines and Sherlovskaya-Naklonnaya mine), Kuznetsk coal (Kaltansky and Krasnobrodsky coal strip mines) and natural gas. The reserve fuel is gas,

Information on the Company and its Position in Industry the starting fuel is gas and fuel oil. The plant is part of the North Caucasus UPS, the main competitors are gas-powered Stavropolskaya and Nevinnomysskaya GRES. Peak regulation is carried out by Tsimlyanskaya HPP. It is expected that the plant will be mainly loaded in basic mode and also participate in the balancing market. The plant generates over 15% of North Caucasus UPS consumption. The plant’s capacity is not limited by factors of a seasonal nature.

ANNUAL REPORT 2,112 MW 50% The installed electric capacity is CF

13 75 Gcal/h 373 gef/kWh The installed heat capacity is SCEF (including water boilers)

Fuel Mix Primary fuel — Ash-grade coal from the Rostov, Kuznetsk coal basin Gas 34% Fuel oil 0.1%

Reserve fuel — gas

Starting fuel — gas, fuel oil

Coal 66% 9,213 million kWh Electricity Generation Fuel Consumption

Gas Coal Fuel oil

948.9 2,949.8 2.28 Information on the Company and its Position in Industry 8,951 million kWh mln. m3 thousand tons thousand tons Electricity Sales

96 thousand Gcal 1,298 people Heat Supply Headcount

ОGК-6 2009 Kirishskaya GRES (KiGRES)

Kirishskaya GRES is located in Kirishi, 150 to the regulating sources of the central part of Kirishi, km to the southeast of St. Petersburg. The the UPS. The aggregate regulation capacity of Leningrad Region installed capacity of the plant is 2,100 MW. these sources in the winter period is less than When the plant was under construction the capacity of Kirishskaya GRES and does not the designed type of fuel was fuel oil. meet the needs of the central part of the UPS Subsequently, generation units 1-6 of the for regulation which makes the plant the key condensation section of the plant and boilers frequency and capacity regulator in the system. K1T-6T of the heat-extraction section were Kirishskaya GRES units operating in the load converted to natural gas firing. Currently following mode are the primary source of power natural gas is used as the primary fuel for for the balancing market in the region. The system

Information on the Company and its Position in Industry the plant. Reserve fuel is M-100-grade fuel operator assigns a fairly high load to the plant oil supplied by Kirishi refinery (LLC KINEF). using it as a regulator to ensure system reliability. Starting fuel is gas and fuel oil. Capacity limitations The plant is a part of Northwest UPS, the Kirishskaya GRES has some limitations of a generating capacity of which is also comprised of seasonal nature: Leningradskaya NPP, Pskovskaya GRES (OGK-2), — from December to March — 300 MW HPP and CHPP TGK-1 and Northwestern CHPP. (14.3% of the installed capacity); Apart from Kirishskaya GRES, only approximately — from July to August — 600 MW (28.6%). 400 MW of HPP TGK-1, condensate production This is due to the presence of whitefish of CHPP 22 (South) and CHPP 21 (North) as species in the Volkhov River which imposes well as reversible flow from Karelenergo (at 330 some limitations on the temperature of water kW voltage) and Central UPS, may be attributed discharged by the plant.

ANNUAL REPORT 2,100 MW 27% The installed electric capacity is CF

15 1,234 Gcal/h 350 gef/kWh The installed heat capacity is SCEF (including water boilers)

Fuel Mix Primary fuel — gas Gas Fuel oil 98% Reserve fuel — M-100-grade fuel 2% oil supplied by Kirishi refinery (LLC KINEF)

Starting fuel — gas, fuel oil

4,956 million kWh Electricity Generation Fuel Consumption

Gas Coal Fuel oil

1,693.4 34.32 Information on the Company and its Position in Industry 7,438 million kWh mln. m3 thousand tons Electricity Sales

2,648 thousand Gcal 872 people Heat Supply Headcount

ОGК-6 2009 Krasnoyarskaya GRES-2 (KGRES-2)

Krasnoyarskaya GRES-2 is located in — from January to May — 20 MW (1.6% of — from October to December — 21 MW Zelenogorsk, 167 km to the east of Krasnoyarsk. the installed capacity); (1.7% of the installed capacity); The installed capacity of the plant is 1,250 MW. — from June to August — 30 MW (2.4% of The limitations are because of the insufficient The primary fuel is brown coal from the the installed capacity); thermal load of PT type turbines at plants 9 and Irsha-Borodinsky coal strip mine of the Kansko- — September — 16 MW (1.2% of the 10 (due to the lack of a steam consumer and a Achinsky coal basin, 2BR-grade. There is no installed capacity); design peculiarity of the operated units). reserve fuel and the starting fuel is fuel oil. The competitive environment includes HPPs of the Angaro-Eniseisky Cascade (regulation and base capacity), efficient thermal generation Krasnoyarsk,

Information on the Company and its Position in Industry by the Nazarovskaya GRES (500 MW unit), Krasnoyarsk Region Berezovskaya GRES and the plants of the former Kuzbassenergo. The plant’s load in many ways depends on seasonal factors such as the level of water in the reservoirs and the air temperature. In 2009 after the accident at Sayano-Shushenskaya HPP, the generation of Krasnoyarskaya GRES-2 demonstrated persistent growth due to capacity constraints arising at Siberian UPS. Capacity limitations Krasnoyarskaya GRES-2 has a seasonal capacity limitation from 15 to 30 MW.

ANNUAL REPORT 1,250 MW 46% The installed electric capacity is CF

17 1,176 Gcal/h 390 gef/kWh The installed heat capacity is SCEF (including water boilers)

Fuel Mix Primary fuel — brown coal from the Irsha-Borodinsky coal strip mine Coal Fuel oil of the Kansko-Achinsky coal basin, 99.8% 0.2% 2BR-grade

Reserve fuel — n/a

Starting fuel — fuel oil

5,019 million kWh Electricity Generation Fuel Consumption

Gas Coal Fuel oil

3,560.2 3.36 Information on the Company and its Position in Industry 5,450 million kWh thousand tons thousand tons Electricity Sales

1,260 thousand Gcal 1,020 people Heat Supply Headcount

ОGК-6 2009 Cherepovetskaya GRES (ChGRES)

Cherepovetskaya GRES is located in the Kadui, Kadui settlement of the Vologda Region, 50 km Vologda Region west of Cherepovets. The installed capacity of the plant is 630 MW. The primary fuel for the plant is DSSH and DMSSH-grade coal from: Khakassia (Stepnoy coal strip mine, Chernogorskaya Coal Company Khakassrazrez-Ugol, Vostochno-Beisky), Inta (Intaugol) and Kuznetsk (Evtinsky and Zadubovsky coal strip mines) and natural gas.

Information on the Company and its Position in Industry The reserve fuel is gas, the starting fuel is gas and fuel oil. The competitors of Cherepovetskaya GRES are plants connected to the region via 500 kW power lines i.e. Kostromskaya and Konakovskaya GRES (flexible generation) and Kalininskaya NPP (750 kW base schedule). Cherepovetskaya GRES has a competitive advantage of being able to use both coal and gas for power generation. The plant’s capacity is not limited by factors of a seasonal nature.

ANNUAL REPORT 630 MW 43% The installed electric capacity is CF

19 39 Gcal/h 377 gef/kWh The installed heat capacity is SCEF (including water boilers)

Fuel Mix Primary fuel — DSSH and DMSSH-grade coal and natural gas

Coal Reserve fuel — gas 37%

Gas Starting fuel — gas, fuel oil 63%

Fuel oil 0.1% 2,373 million kWh Electricity Generation Fuel Consumption

Gas Coal Fuel oil

469.8 459.5 0.79 Information on the Company and its Position in Industry 2,487 million kWh mln. m3 thousand tons thousand tons Electricity Sales

113 thousand Gcal 586 people Heat Supply Headcount

ОGК-6 2009 1.3. Main Events of 2009

April 21 JSC “OGK-6” paid the coupon yield on the fourth coupon of JSC “OGK-6” bonds in the amount of 37.65 rubles per bond at the annual rate of 7.55%. The total amount of payment on the fourth coupon was 108.2 million rubles.

20 April 23 JSC “OGK-6” was named a prizewinner at a competition called “Socially Effective Organization in the Electric Power Sector- 2009”. The company was awarded first place in the category “Best Socially Effective Generating Organization in the Electric Power Sector.” The competition has been held annually by the Employers’ Association of the Electric Power Sector together with the non- governmental organization “All-Russian Electrounion”, since 2005. This year 30 generating, network, sales and maintenance power companies took part.

June 1 Major repairs of power unit No. 7 (GRES-24) were started at Ryazanskaya GRES with the aim of installing a gas turbine produced in Russia, gas condensation heaters and bottom burners, reconstructing gas and air ducts and replacing the generator of the steam turbine as part of an investment project for Adding a 310 MW Gas Turbine to a Steam Turbine Plant, as well as carrying out repair work on the boiler super heater and steam turbine equipment.

June 8 The Meeting of JSC “OGK-6” shareholders passed a resolution on not paying dividends following the results of 2008. It was further resolved to allocate the undistributed profit of 479,954,000 rubles for the reporting period to priority investment projects (439,706,000 rubles) and to a reserve fund (40,248,000). The Annual General Meeting of Shareholders elected a new Board of Directors made up of 11 people and a new Audit Commission of 5 people, approved Closed Joint-Stock KPMG as the Company Auditor, approved the new version of the JSC “OGK-6” Charter, internal documents regulating the activity of Company bodies (Regula- tion on the General Meeting of Shareholders, Regulation on the Board of Directors, Regula- tion on the General Director, Regulation on the Management Board) and approved a number of related party transactions which may be completed by JSC “OGK-6” in the future as part of regular business activity.

July 1 On July 1, 2009 the location (legal address) of JSC “OGK-6” was changed due to the approval of a new version of the JSC “OGK-6” Charter by the annual General Meeting of Company’s Sharehold- ers. The new legal address for JSC “OGK-6” is: Building 3, 101 Prospekt Vernadskogo, Moscow.

July 6 JSC “OGK-6” obtained a positive expert opinion from the Federal State Institution Glavgosexper- Information on the Company and its Position in Industry tiza (Main Department of State Assessment) on the project documentation (Feasibility Report) for Construction of power unit No. 9 using circulating fluidized bed technology (CFB) Project at No- vocherkasskaya GRES. It is the first generation unit in Russia with a boiler using circulating fluidized bed technology (CFB). The project documentation was prepared by Rostovteploelektroproekt, a branch of JSC South Energy Engineering Center. The project includes the construction of power unit No. 9 at Novocherkasskaya GRES with a single-shell boiler unit using circulating fluidized bed technology produced by JSC EMAlliance (Russia) together with Foster Wheeler (Finnish subdivision), a K-330-23.5 steam turbine produced by JSC Turboatom (Ukraine) and a TPB-330-2МУЗ produced by State Enterprise Elektrotyazhmash (Ukraine).

ANNUAL REPORT July 9 Power unit No. 7 of Novocherkasskaya GRES was put into operation after major reconstruction and modernization work was carried out. In the context of this project, the steam turbine and auto regulation system were replaced and reconditioning repairs were carried out on primary and auxiliary equipment. The operational life of the unit increased by 200,000 operational hours (20—25 years). Costs for the modernization project were about 1.5 billion rubles (taking into account repair work on the boiler unit). It became possible to fully diversify the fuel mix: the generation unit can 21 run fully both on coal and on gas. Thanks to the reconstruction of the turbine, the specific heat consumption for the turbine plant was cut to 1,848.9 kcal/kWh. The specific consumption of fuel for a nominal load was reduced to 45 grams per one kilowatt-hour. According to preliminary forecasts, in 2009 the economy already consists of more than 75,000 tons of equivalent fuel (about 100,000 tons of coal in physical terms or 1,530 wagons), and the volume of ash and slag waste has been reduced by 16,400 m3. The auto regulation system replacement has increased the effectiveness of the unit’s work and ensured compliance with System Operator Requirements for Working on the Wholesale Electricity Market. The reconstruction of power unit No. 7 allowed an aggregate to be created with higher economic and technical indicators in comparison with other units of Novocherkasskaya GRES, and increased the reliability of power (supply) systems in the South of Russia.

August 17 The Krasnoyarskaya GRES-2 branch of JSC “OGK-6” received a commission from the Krasnoyarsk Regional Dispatch Department to reach their maximum load within the shortest term possible because of the accident at Sayano-Shushenskaya HPP. An Emergency Response Team was created to coordinate work on increasing the load at Krasnoyarskaya GRES-2 which would also involve solv- ing fuel supply issues. In August 2009, Krasnoyarskaya GRES-2 generated 361 million kWh of electricity which was 38.8% higher than the target indicators. The targets for the System Operator of the Krasnoyarsk Regional Dispatch Department of Siberia were met in full. The generation increase was due to the plant being fully loaded as a result of the accident at Sayano-Shushenskaya HPP. In August 2009, 29,217 thousand Gcal of heat was generated which was 18% higher than business plan indicators and 6.4% more than the previous period. The hot water parameters were in line with the targets set by the dispatcher from the municipal enterprise Heating Lines.

August 31 Siemens Gas turbine units were delivered to Kirishskaya GRES for construction of CCGT-800. The delivery of equipment took about two weeks. On the 12th of August gas turbine units with a combined mass of 2,600 tons were sent from the manufacturer to the Dutch port of Rotterdam where they were loaded on a ship bound for Saint Petersburg; then they were dispatched on two river barges to a wharf on the Chernaya River, 3.5 km from Kirishskaya GRES. Unloading the large equipment using the RoRo method took 4 days; then two coupled towing vehicles delivered the equipment to the construction site. The remaining auxiliary GTU equipment was transported from the Saint Petersburg port warehouse using 120 mid-sized and 32 large vehicles. The generators

and gas turbines will be installed in the main building of CCGTU-800 using two heavy-duty over- Information on the Company and its Position in Industry head travelling Demag cranes with a load bearing capacity of 165 tons. At the same time installation of the gas turbine equipment will begin.

September 22 The JSC “OGK-6” Annual Report for 2008 won first prize in the category of “Power Industry Re- port” in the VI Open Competition for Annual Reports of Joint-Stock Companies held in the context of the International Investment Forum “Sochi-2009”. In 2009, 79 companies from key branches of the Russian economy took part in the competition.

ОGК-6 2009 October 9 JSC “OGK-6” was authorized to construct Power Unit No. 9 with CFB technology at Novocherkass- kaya GRES. The resolution was passed on the basis of the positive expert opinion from FSI Glavgo- sexpertiza on the approved part of the project documentation for the investment project. Authori- zation documents were issued by the Architecture and Town Planning Department for the city of Novocherkassk and by the Architecture Section for the Oktyabrsky District of the Rostov Region. 22 October 23 JSC “OGK-6” paid 108.2 million rubles for repayment of the fifth coupon of series 01 bonds. The size of the yield on the fifth coupon per security is 37.65 rubles at the annual rate of 7.55%.

November 17 JSC “OGK-6” received an Inspection Report for preparedness to work during the fall-winter maximum load period. The preparedness of the Company for work during the fall-winter period was assessed by a commission which included representatives from the Ministry of Energy, System Operator, Rostekhnadzor, Gazprom Energyholding and JSC ”OGK-6.” All JSC “OGK-6” branches had previously received certificates of preparedness. To prepare the Report, the preparedness for work at low temperature conditions was approved at all plants as well as the complete fulfillment of industrial safety requirements during the use of production units. Emergency and fire-prevention training was conducted in groups and an essential store of equipment and parts was created for emergency repair work. Primary and reserve dispatch channels were organized in full at all branches as well as channels for telemetric information transmission. All measures have been taken in order to ensure reliable and uninterrupted power supply to all consumers for the coming winter.

November 20 The Commission for the Ministry of Energy of the Russian Federation conducted an inspection during the implementation of the JSC “OGK-6” investment project for Adding a 310 MW Gas Turbine to Ryazanskaya GRES Steam Turbine Plant (CCGT Unit- 420). It had no comments or criticisms for the Company. During the inspection, the whole project was examined: project documentation, equipment systems, network diagrams, construction plans, various instructions and storage conditions for unit parts etc. All primary equipment and a large portion of the auxiliary equipment has been manufactured and delivered to Ryazanskaya GRES. The Commission noted that work at the plant is carried out around-the-clock by more than 500 contract staff. The primary stages of work are 80—90% completed. The operating employees had undergone the appropriate training and were prepared to work. In the Inspection Report it was also noted that putting a CCGT Unit-420 into operation as intended (by December 31, 2009) was impossible due to the primary equipment being delayed by its manufacturers for a period of 4 to 6 months. The Ministry of Energy Com- mission suggested that JSC “OGK-6” develop compensatory measures to provide for 72 hours of comprehensive testing on the modernized power unit no later than April 2010. Information on the Company and its Position in Industry

ANNUAL REPORT November 21 After successful acceptance tests on the test bench at Ivanovskaya GRES, a GTE-110 gas turbine engine produced by JSC NPO Saturn was delivered to Ryazanskaya GRES. Delivery by rail took just over a week. The mass of the equipment is 60 tons. The installation of a GTE-110 gas turbine engine in the context of a large JSC “OGK-6” investment project to Add a 310MW Gas Turbine to a Steam Turbine Plant (CCGT Unit-420) shall be carried out by contractor Sphera LLC. Comprehen- sive testing of the CCGT-420 at Ryazanskaya GRES is planned for the start of 2010. 23

November 24 A generator produced by Kharkov factory Elektrotyazhmash was delivered to Ryazanskaya GRES as part of an investment project to construct a CCGT Unit-420. The delivery of the equipment by rail (with a total mass of 300 tons) took 12 days. It required 2 bays and 5 carriages.

November 25 The JSC “OGK-6” Annual Report for 2008 was ranked first in the territorial category “Best Compa- ny Annual Report of the Southern Federal District” at the 12th Annual Federal Competition of Annual Reports and Websites organized by Securities Market magazine and MICEX Stock Exchange. In addition to this, the JSC “OGK-6” Annual Report won two prizes at the 12th Annual Reports Con- test held by RTS Stock Exchange: first place out of the annual reports of companies in the Southern Federal District and third place in the category of “Best Information Disclosure in an Annual Report by Companies with Capitalization from 10 to 100 billion rubles.” Information on the Company and its Position in Industry

ОGК-6 2009 1.4. Information on Risks and the insuring proprietary and financial risks Risk Management System are being developed and implemented which helps to achieve the optimal bal- Company’s Risk Management Policy ance between the risk management costs Risk management is viewed as one of the most and permissible damage, minimize the important elements of strategic management Company’s financial resources intended and internal control which ensures raising for liquidating the consequences of risks the quality of corporate governance, financial that occur in the course of implementing stability, maintaining the business development large-scale investment projects as well as strategy and fulfilling the Company’s mission. increase the investment attractiveness of To implement the unified risk management the Company. 24 policy which began in 2005 the Company has been introducing the integrated risk 2. For the purpose of further formation of the management system (IRMS) on a stage-by- integrated risk management system, work stage basis. is being carried out aimed at developing principles of the unified comprehensive 1. The initial (basic) stage of IRMS introduc- approach to the Company’s risk manage- tion was characterized by creating a cor- ment. porate risk optimization mechanism by insurance outsourcing (transferring certain Industry risks risks to insurance companies for a fee). The Company’s main activities are generating and supplying (selling) electricity and heat. It ensured stability and optimal protection of Electric power is an infrastructural branch the Company from the external and inter- of the economy. The anticipated development nal risks inherent to the core activity of the trend for the industry is determined by a general Company under the specified conditions. trend for the socio-economic development of all branches of the economy of the Russian At present risk management on this stage is Federation as well as to some extent by the carried out along the following lines: climate and weather conditions in Russia. The most significant events which affect or may 1.1. To manage the proprietary and social risks affect the activity of power generating enterprises inherent to industrial activity, a program including the Company are as follows: of insuring all types of risks which are ac- • changes in state regulation of the electric cepted by insurance companies is being power industry; developed and implemented (annually). • the creation of a competitive electricity The work aimed at improving such crite- market; rion as “quality/cost” of insurance pro- • power generating companies implementing grams is being carried out continuously. investment programs.

1.2. As part of managing social risks, pro- Taking into consideration that the Company is grams of non-governmental pension not active on foreign markets, the following is a

Information on the Company and its Position in Industry provision and personal insurance are be- description of possible changes to the industry ing developed and implemented for the as well as prospective Company actions in case Company’s employees. These programs of such changes on the internal market only. raise the level of social protection and motivation of the Company’s employees Market Risks and improve the mechanism of recruiting The most significant events which affect or may and retaining highly qualified staff. affect the activity of power generating enterprises including the Company are as follows: 1.3. In the context of risk management and in • fall in demand for electricity as a result of a the course of implementing large-scale setback in production, caused by economic investment projects, programs aimed at recession;

ANNUAL REPORT • landslide of prices for electricity in the • postponing project completion dates due to unregulated segment of the market; changes in the technical solutions and the • competition with more effective power impossibility of meeting deadlines which generating companies on the liberalized may lead to sanctions against the Company market during the reporting period; on the competitive capacity market (CCM) • increasing competition in the future after all and within the framework of the capacity power generating companies complete their supply agreement approved by the Protocol investment programs; of the Ministry of Economic Development dd. • rates set by the government for electricity August 26, 2007; and heat which are below an economically • contingency expenses incurred in the justifiable level; course of implementing an investment • increase of defaulted payments for the program which may lead to deterioration 25 supplied electricity and heat; of the investment project approved • risks related to weather factors, increase in parameters. seasonal water content; The Company’s actions aimed at reducing • change to the electricity wholesale market these risks: rules and capacity. • searching for and analyzing sources of The Company’s actions aimed at reducing funding for further implementation of the these risks: investment project; • increasing operating efficiency by • improving procedures of control over implementing programs aimed at cutting completion and organizing work by all production costs and saving fuel; participants of a project; • concluding long-term contracts for power • specifying in agreements with suppliers and supply. contractors tough penal sanctions for failure to meet the deadlines both in general and at Risks of Growing Prices for Energy Resources, particular stages which have an impact on Materials and Equipment completion of the entire project; The Company’s core activity strongly depends • thorough examination of technical solutions on gas and coal suppliers as well as repair at the design stage. services. Soaring prices for these services may significantly affect the financial and economic National and regional risks performance of the Company. The national risks of the Company include The Company’s actions aimed at reducing political, economical and social risks inherent the influence of this factor: to the Russian Federation. These risks are • efficient actions aimed at optimizing the beyond the Company’s control. structure of the fuel mix; On December 21, 2009, International Rating • increasing operational effectiveness of the Agency Standard & Poor’s reviewed and Company by implementing programs aimed amended the credit ratings of the Russian at reducing production costs and saving fuel; Federation from “Negative” to “Stable.” At the • concluding medium-term agreements with same time, the sovereign credit ratings for the suppliers at stable prices which take the Russian Federation were confirmed: “BBB/A-3”

energy resource market situation into account long-term and short-term ratings with regard Information on the Company and its Position in Industry in the process of forming a business plan; to foreign currency and “BBB+/A-2” long- • optimizing costs of repair operations and term and short-term ratings with regard to the capital construction. national currency. The stable forecast in terms of these ratings Risks in Implementation of Investment Projects was conditional upon the absence of additional Implementation of investment projects involves external stress situations and the stabilization a number of risks which can be summarized in of primary export prices. Standard & Poor’s the following way: believe that by the end of 2012 Russia’s • impossibility of attracting enough additional reserves will return to the 2008 level (in funds; dollars) which will provide the opportunity for

ОGК-6 2009 the Russian Federation to hold the position of Financial risks net lender in the foreseeable future. Risks Related to Changes in Interest Rates Since Russia produces and exports large The electric power industry belongs to the volumes of natural gas and oil, the Russian capital-intensive branches of industrial economy is extremely vulnerable to fluctuation production. Strengthening the Company’s of global prices for oil and gas. Falling prices market positions will require significant for gas and oil on the world commodity additional investment expenditure. It will be markets may hinder or stop the development of necessary to borrow funds to this end. In the Russian economy. This factor may have a addition to this, the Company needs funds very negative effect on the economic and social for current goals due to the gaps between situation in Russia, which in turn impacts on the delivery of electricity and the payment for 26 the Company’s activity, its financial status, it made by counterparties. The Company is potential market value of its shares as well subject to the risk of changes to interest rates as restricts the Company’s access to capital on financial obligations. Increasing interest and reduces the purchasing power of the rates may lead to increase in the cost of Company’s production consumers. funds intended for the Company’s investment The Russian Federation is a multi-ethnic program and business activity. state and consists of regions with different The Company’s actions aimed at reducing levels of social and economic development. the influence of this factor: Due to this, we can’t altogether rule out the • raising short-term and long-term credit possibility of internal conflicts including under the condition of ensuring optimal conflicts with the participation of armed forces. structure and value of the credit portfolio; Neither can the Company absolutely rule out • placement of bonds when there are favorable the possibility of declaring a state of emergency market conditions. in the regions where the Company’s heat and electricity producing plants are located. Inflation Risk Terrorist attacks may cause significant The level of inflation depends directly on the damage to the activity of Russian enterprises economic situation in the country. Growth including the Company and have an of inflation in Russia will lead to the general unfavorable effect on the Company’s increase of the interest rates. investments and the value of securities. According to the Federal Service of State Poor infrastructure in Russia and its further Statistics, the level of inflation in 2003 was deterioration may lead to interruptions in 12%, in 2004 — 11.7%, in 2005 — 10.9%, in shipment of goods and materials, disrupt or 2006 — 9.0%, in 2007 — 11.9%, in 2008 — increase costs of business activity. Each such 13.3%, in 2009 — 8.8%. case may damage the economy and have a The negative effect of inflation on the significant negative effect on the Company, its financial and economic activity of the Company earnings, financial standing, performance and creates the following risks: the value of its shares. • the risk of losses related to decrease of the The Company’s actions aimed at reducing real value of the accounts receivable in case the influence of this group of risks: of a considerable deferment or delay of

Information on the Company and its Position in Industry • continuous monitoring of the situation in payment; regions where Company plants are located, • the risk of increase of payable interest; introducing amendments to investment • the risk of increase of the cost of goods, programs when necessary in favor of regions products, work and services due to growing with a more positive economic situation; cost of energy resources, transportation, • cooperation with state and other authorities salaries, etc.; with the aim of overcoming negative • the risk of reduction of the real value of changes to the situation in Russian and in funds raised for implementation of the the regions. investment program.

ANNUAL REPORT The risk of inflation influence may arise in Risks related to the company’s activity the case when monies received depreciate Industrial and Operational Risks in their real purchasing power faster than Industrial risks are related to all types of they nominally grow. Growth of inflation technical violations and accidents due to the has a considerable effect on the financial following reasons: performance of the Company. It may lead to • errors of operators; increasing costs (due to growing prices for • natural and climatic factors; energy resources and inventories) and as a • economic and physical deterioration of fixed result reduction of profit and efficiency of the assets; Company. Apart from that, inflation growth • unforeseen external circumstances. leads to increasing cost of funds borrowed by Operational risks are related to factors the Company. such as a ban on operating equipment with 27 In order to reduce the influence of risk limit deviations from the regulatory technical brought about by inflation on the Company’s requirements imposed by the supervisory activity, the following actions are proposed: authorities. • setting economically justifiable tariffs within In order to reduce these risks, the Company the limits imposed by the state; carries out strategic action programs, such • carrying out actions aimed at reducing as modernization of existing generating internal costs. assets, adding new modern equipment and implementing an investment program that Risk of Change in Exchange Rates envisages the construction of new capacities at As of today in the context of the Company’s the sites of existing power plants. activity there are almost no foreign currency The Company undertakes the following contracts. The Company does not intend to measures as part of its day-to-to operations in conclude contracts in foreign currency related order to reduce such risks: to its production and economic activity. • commercial insurance of property, the civil However, some investment deals are in liability of owners of hazardous industrial foreign currency. As of December 31, 2009, sites and hydro-technical structures, the Company had two big foreign currency and vehicles, and insuring personnel for contracts with the remaining payable amount accidents and illnesses; of 27.1 million euros. • special training of personnel using training simulators; Legal risks • holding events for increasing the durability of The Company does not export or import goods, plants during system emergencies; works or services. In connection with this, the • monitoring and increasing the level of safe legal risks related to the Company’s activity are practice and labor discipline; only specified for the internal market. • increasing the level of fire safety at In connection with possible amendments to production sites. effective tax legislation such as introduction of amendments and addenda to legal acts on Judicial Risks taxes and duties related to raising the tax rates As of December 31, 2009 claims were filed

and imposing new taxes, it is possible that against the Company to the total amount of Information on the Company and its Position in Industry the Company will incur additional expenses in 33,176,492.39 rubles. They are being reviewed the form of taxes and mandatory payments. at commercial courts. There are no lawsuits Such changes will inevitably affect the level where the Company is a defendant and claims of profit. amount to 50 million rubles or more. Amendments to tax legislation with regard As of December 31, 2009 the Company was to regulating securities may also influence the a plaintiff in three lawsuits to the amount of 50 Company’s activity. million rubles or more.

ОGК-6 2009 No. Plaintiff Defendant Subject of dispute Stage of the proceedings Risk of (applicant) unfavorable consequences to the Company

1 JSC “OGK-6” JSC “Krasnodar On debt recovery under an OTC sales The defendant has paid the principle Medium Territory Independent and purchase contract for electricity and debt prior to the review of the case. Power Sales capacity to the amount of 70,000,000 5,587,030.87 rubles in interest for using Company” rubles. borrowed funds was recovered from the defendant upon a ruling of the Commercial Court of the city of Moscow dd. December 28 30, 2009. On March 25 and 26, 2010 the defendant performed payment according to the ruling

2 JSC “OGK-6” Donenergosbyt LLC On debt recovery under a regulated sales The claim was reduced to 22,930,584.43 Medium and purchase contract for electricity and rubles in connection with a partial payment. capacity to the amount of 59,028,012.12 On March 12, 2010 the Commercial Court rubles. of the city of Moscow approved an amiable settlement on the incremental repayment of 22,390,584.43 rubles.

3 JSC “OGK-6” Interdistrict On the annulment of Resolution No. Legal proceedings dd. April 28, 2010 Medium Inspectorate of the 03-1-23/114 dd. June 26, 2009 Federal Tax Service of Interdistrict Inspectorate of the No. 4 for Major Federal Tax Service No. 4 for Major Taxpayers Taxpayers (with respect to charging arrears for income tax to the amount of 113,175,000, penalties for income tax to the amount of 10,810,698, arrears for VAT to the amount of 90,630,711, VAT penalties to the amount of 13,458,573, arrears for water tax to the amount of 28,666,092 and water tax penalties to the amount of 2,832,688). Information on the Company and its Position in Industry

ANNUAL REPORT Risks Related to Revocation of Licenses guarantee agreement, and also in accordance Risks related to the impossibility of extending with the provisions of the Civil Code of the the Company’s licence for carrying out a certain Russian Federation, in the event that it is type of activity or for using sites which are impossible for a debtor to fully or partially fulfill restricted (including natural resources). In order its obligations, the creditor shall be entitled to carry out licensed activities the Company to demand that the guarantor represented by needs to obtain new licenses according to the JSC “OGK-6” fulfills obligations to the amount procedure established by Russian legislation specified by the agreement. The fulfillment of after expiration of the previous licenses. If such obligations may have a negative impact on regulatory requirements are violated, the the Company’s performance. However, taking Company may not receive new licenses in into account the lack of court cases in which a timely fashion. At present, these risks are JSC “OGK-6” is a defendant for the obligations 29 minimized. However, failure to prolong the of third parties, including under guarantee validity of licenses or receive new licenses may agreements, and also amounts of collateral have a significant negative effect on the activity granted which are insignificant in regards to and financial performance of the Company. the book value of assets, the Company does not consider this as an important criteria in the Risks of Liability Related to Third Parties’ risks associated with the onset of liability for Debts including Subsidiary Companies the debts of third parties. In its activity, JSC “OGK-6” employs the practice of pledging collateral to third parties. Risks of Losing Consumers which Account for Collateral is mainly offered as guarantees for at least 10 percent of the Total Sales Earnings the obligations of third parties. As of December The Company does not have any consumers 31, 2009, the total amount of the Company’s which account for at least 10% of the total liabilities from collateral which it pledged sales earnings of the Company. and total amount of third party obligations which the Company pledged to third parties Other Risks Connected with the Company’s Ac- as collateral, including deposits or guarantees tivity which are specific to it: was 2,725 million rubles and 5,450 million The Company is not aware of any other risks rubles respectively. Under the conditions of a that are exclusive to the Company’s activity. Information on the Company and its Position in Industry

ОGК-6 2009 The power of victory 2 Financial and Economic Performance Overview

2.1. Revenue 2.2. Production Cost 2.3. Other Expenses and Income 2.4. Profit 2.5. Balance Structure

Every victory sets a new goal and lays down a new challenge. A leader always has an incentive to go further. 2

Financial and Economic Performance Overview1

The Company’s revenues in 2009 decreased sales profit increased by 3.3 times to 5,080,231 by 1% versus 2008 to 41,870,322 thousand thousand rubles. Net profit in the reporting rubles, and production cost decreased by 10% period increased by 3.5 times and was equal to to 34,154,369 thousand rubles. The Company’s 2,813,099 thousand rubles.

Profit and Loss Statement for 2008—2009, thousand rubles

Item name 2008 2009 Change, %

Income and expenses for regular activities Revenues from sale of goods, products, works and services 42,275,050 41,870,322 -1% Cost of sold goods, works and services (37,781,533) (34,154,369) -10% Gross profit 4,493,517 7,715,953 72% Selling and marketing costs (34,501) (44,380) 29% General and administrative expenses (2,921,366) (2,591,342) -11% Sales profit/loss 1,537,650 5,080,231 230%

Other income and expenses

Interest receivable 829,010 349,169 -58% Interest payable (293,781) (286,825) -2% Other income 306,224 725,694 137% Other expenses (1,438,332) (2,001,382) 39%

Profit/loss before tax 940,771 3,866,887 311%

Deferred tax assets (59,681) 22,233 -137%

Financial and Economic Performance Overview Deferred tax liabilities (7,974) (4,011) -50%

Current income tax (589,786) (1,021,810) 73%

Income tax from previous years 513,799 (141,941) -128%

Other expenses from profit 7,825 91,741 1,072%

Net profit/loss for the reporting period 804,954 2,813,099 249%

1 In this section, the analysis of financial and economic results has been carried out in accordance with Russian Accounting Standards (RAS).

ANNUAL REPORT 2.1. Revenue Revenue from sales of other products Total revenue from sales of electricity, Income from sales of electricity (63%) and (services) resulting from core activities in capacity and heat in 2009 equalled capacity (31%) dominate the revenue structure 2009, which includes revenue from sales of of JSC “OGK-6”. Sales of heat made up 5% of chemically treated water, payment for non- revenue. Total revenue from sales of electricity, return of condensate, payment for transfer of 41,427,761 capacity and heat in 2009 equalled 41,427,761 heat power, revenue from leasing property etc., thousand rubles, which is 1% less than thousand rubles, which is 1% less than in made up 442,561 thousand rubles, this is 23% in 2008. 2008.1 more than in 2008. The main factors for maintaining the Company’s 2008 level of revenue in 2009 2.2. Production Cost despite the fall in output were: In 2009, production cost decreased by 10% In 2009, production cost decreased by 10% • electricity tariff growth in the RC segment; in comparison with 2008 amounting to in comparison with 2008 amounting to 33 • capacity tariff growth. 34,154,369 thousand rubles excluding general Total revenue from sales of heat power in and administrative expenses2. The largest part 2009 increased by 9% and made up 2,223,005 in the production cost structure (70.2%) is 34,154,369 thousand rubles. made up of variable costs which are mainly fuel thousand rubles excluding general and administrative expenses.

Revenue Structure of JSC “OGK-6” in 2008—2009

2008 2009

1% 1% 5% 5%

26% 31% 68% 63%

Sales of electricity Sales of capacity Sales of heat power Other incomes from regular activities

Revenue Structure in 2008—2009, thousand rubles

2008 Share in revenue, % 2009 Share in revenue, % Change

Revenue 42,275,050 100% 41,870,322 100% -1%

Sales of electricity 29,028,842 69% 26,392,376 63% -9% Financial and Economic Performance Overview

Sales of capacity 10,849,771 25% 12,812,380 31% 18%

Sales of heat power 2,036,637 5% 2,223,005 5% 9%

Other income from regular activities 359,800 1% 442,561 1% 23%

1 More detailed information about revenue from sales of electricity, capacity and heat is specified in Section 4 hereof. 2 In connection with the changes to JSC “OGK-6’s” reporting policy, from January 1, 2009, administrative expenses were excluded from production costs. In the financial statements for 2009, the production cost for the previous period was altered. In connection with this, the data contained in this section for 2008 does not correspond with the data from the 2008 annual report.

ОGК-6 2009 expenses. Semi-fixed costs make up 29.8% of generation by plants of JSC “OGK-6” by the overall cost structure. 25.5% in comparison with 2008.1 The share of fuel costs in the overall In 2009, electricity purchase expenses production cost structure which includes increased by 2.1% in comparison with 2008 administrative and commercial expenses was amounting to 4,710,390 thousand rubles 52.2% in 2009; its share in production cost due to the growth in volume of purchased was 56.2%. Fuel costs reduced in 2009 by electricity by 4.0%. The share of electricity 20.9% to 19,206,627 thousand rubles, this purchase in the production cost which is the result of the reduction in electricity includes administrative and commercial

34 Production Cost Structure in 2009 2009

thousand rubles Share in production cost, % Total production costs (34,154,369) 100% Variable costs (23,983,820) 70.2% Fuel costs (19,206,627) 56.2% Electricity purchase (for resale) (4,710,390) 13.8% Water for technological needs (%) (66,803) 0.2% Semi-fixed costs (10,170,549) 29.8% Raw materials (1,790,568) 5.2% Production works and services (2,211,590) 6.5% Depreciation (1,223,340) 3.6% Labor remuneration + UST (2,113,353) 6.2% Private pension funding (90,660) 0.3% Water tax (800,657) 2.3% Other costs (1,940,381) 5.7%

Changes to Production Cost Taking into Consideration the Administrative and Commercial Expenses in 2008—2009

2008 2009 Change, % thousand rubles Share, % thousand rubles Share, % Total production cost including administrative expenses (40,737,400) 100% (36,790,091) 100% - 9.7% Variable costs (28,946,017) 71.1% (23,983,820) 65.2% - 17.1% Fuel costs (24,271,556) 59.6% (19,206,627) 52.2% - 20.9% Electricity purchase (for resale) (4,613,986) 11.3% (4,710,390) 12.8% + 2.1% Water for technological needs (60,475) 0.1% (66,803) 0.2% + 10.5% Semi-fixed costs (11,791,383) 28.9% (12,806,270) 34.8% + 8.6% Financial and Economic Performance Overview Raw materials (1,541,596) 3.8% (1,834,468) 5.0% + 19.0% Production works and services (2,163,748) 5.3% (2,490,108) 6.8% + 15.1% Depreciation (1,231,989) 3.0% (1,343,944) 3.7% + 9.1% Labor remuneration + UST (3,045,039) 7.5% (3,193,653) 8.7% + 4.9% Private pension funding (122,179) 0.3% (142,318) 0.4% + 16.5% Water tax (1,011,494) 2.5% (800,727) 2.2% - 20.8% Other costs (2,675,338) 6.6% (3,001,052) 8.2% + 12.2%

1 A detailed analysis of fuel costs is given in Section 3 hereof.

ANNUAL REPORT expenses increased by 1.5%, and its share in 2.3. Other Expenses and Income variable costs increased by 3.7%. Other income from non-core activities in In 2009, repair and maintenance costs (recorded 2009 equalled 725,604 thousand rubles, as a part of the raw materials, production works which is 137.0% larger than in 2008 due to and services, labor remuneration and UST) the extensive sale of fixed assets, goods and increased by 9.2% to 3,793,308 thousand rubles. materials and securities (bills of exchange). In 2009, the share of repairs in the production Other expenses grew by 39.2% to cost structure which includes administrative and 2,001,382 thousand rubles. This was commercial expenses was 10%. mainly due to the write-off of unpromising Costs for labor remuneration and payment unfinished properties and non-liquid goods of UST increased by 3,193,653 thousand rubles and materials to the amount of 342,926 or 4.9% because of wage indexation in 2009 thousand rubles. 35 in accordance with the provisions of the Labor Code of the Russian Federation, the Industry 2.4. Profit Pay Rates Agreement and the Collective Labor Sales Profit Agreements of the Company’s branches. At the end of 2009, the sales profit of JSC Depreciation costs in 2009 were 1,343,944 “OGK-6” was 5,080,231 thousand rubles, thousand rubles, i.e. 9.1% more than in 2008, which is 230% larger than in 2008. In 2009, due to commissioning of fixed assets in the sales profit increased for all plants of JSC reporting year. “OGK-6” in comparison with 2008.

Sales Profit by GRES in 2008—2009 (thousand rubles)

2,864,253

1,113,178 760,354 694,159 723,067 408,444 296,564 - 82,429 - 130,997 - 28,710

RGRES NGRES KiGRES KGRES-2 ChGRES

2008 2009 Financial and Economic Performance Overview

Sales Profit by GRES in 2008—2009 (thousand rubles)

2008 2009 Change, % Total: 1,537,650 5,080,231 + 230% Ryazanskaya GRES 694,159 1,113,178 + 71% Novocherkasskaya GRES - 82,429 723,067 + 1,077% Kirishskaya GRES 760,354 2,864,253 + 277% Krasnoyarskaya GRES-2 296,564 408,444 + 38% Cherepovetskaya GRES - 130,997 - 28,710 + 78%

ОGК-6 2009 EBITDA form 2) — income from participation in other As of the end of 2009, EBITDA made up EBITDA stands for earnings before interest, organizations (line 080, form 2) + interest taxes, depreciation and amortization. This payable (line 070, form 2) + depreciation for indicator accurately shows a company’s the applicable period (line 740, form 5). 5,148,535 performance, and makes it possible to compare As of the end of 2009, EBITDA made up thousand rubles, or 212% more than in companies with one another, as it is not 5,148,535 thousand rubles, or 212% more than 2008. dependant on the taxation system, loan cost, or in 2008. Profitability of EBITDA by revenue in accepted corporate system of depreciation of 2009 made up 12%, or 8% more than EBITDA fixed and intangible assets. profitability in 2008 (4%). EBITDA = profit before taxation (line 140, form 2) — interest receivable (line 060, 36 Index 2008 2009 Change, % EBITDA (thousand rubles) 1,637,531 5,148,535 214%

As of the end of 2009, net profit of JSC Net Profit comparison with the growth in prices for “OGK-6” made up As of the end of 2009, net profit of JSC fuel and the growth in tariffs for capacity. As “OGK-6” made up 2,813,099 thousand rubles, a result of this, the net profit for one asset or 249% larger than in 2008. The growth in of JSC “OGK-6” in 2009 was equal to 0.087 2,813,099 net profit in 2009 is explained by the faster rubles1 and increased by 0.062 rubles in thousand rubles, or 249% larger than in growth of tariffs (prices) for electricity in comparison with 2008. 2008.

Returns in 2008—2009

Index 2008 2009 Change, %

ROS Return on sales (Profit from sales/Revenue) 3.6% 12.1% 8.5%

Return on net profit (Net profit/Revenue) 1.9% 6.7% 4.8%

ROE Return on equity (Net profit/Average annual equity and reserves) 2.3% 7.6% 5.3%

ROA Return on assets (Net profit/Assets) 1.8% 5.8% 4%

2.5. Balance Structure Balance Structure for 2008—2009 Index 2008 2009 Change, % thousand rubles Share in the balance, % thousand rubles Share in the balance, % Non-current assets 21,733,857 49% 33,258,868 68% 53%

Financial and Economic Performance Overview Assets Current assets 22,398,989 51% 15,489,269 32% -31% Total 44,132,846 100% 48,748,137 100% 10% Capital and reserves 35,488,651 80% 38,301,750 79% 8% Long-term liabilities 3,151,630 7% 5,818,399 12% 85% Liabilities Short-term liabilities 5,492,565 13% 4,627,988 9% -16% Total 44,132,846 100% 48,748,137 100% 10%

1 Earnings per share were calculated in accordance with the Guidelines on Disclosing Information on Earnings per share approved by Order No. 29н by the Ministry of Finance of the Russian Federation dd. March 21, 2000.

ANNUAL REPORT 2.5.1. Assets • the reduction of short-term financial According to the financial statements of According to the financial statements of JSC investments by transferring funds which JSC “OGK-6” for 2009, the value of the “OGK-6” for 2009, the value of the Company’s were earlier placed in deposits to pay for Company’s assets was assets was 48,748,137 thousand rubles. In large investment projects. the assets structure, the share of non-current assets grew from 49% to 68%, and the share Non-current assets 48,748,137 of current assets reduced from 51% to 32%. thousand rubles. Changes to the asset structure of the balance Fixed Assets were related to: In 2009, the fixed assets of JSC “OGK-6” • the growth of construction in progress (at increased by 8.43% to 17,453,384 thousand the end of 2009, the amount of construction rubles, due to the launch of new core activity in progress had increased by 204% in equipment. 37 comparison with the start of the year). This As of the end of 2009, buildings and In 2009, the fixed assets of JSC “OGK-6” is due to the implementation of investment facilities which account for 10,687,160 increased by 8.43% to projects; thousand rubles or 61.23% and plant and • the 68% reduction of long-term accounts equipment and vehicles with 6,698,545 receivable due to the use of advances granted thousand rubles or 38.38% made up the 17,453,384 for implementing investment projects; majority of fixed assets. thousand rubles.

Assets Structure in 2008—2009 December 31, 2008 December 31, 2009 Change % thousand % of total assets thousand % of total assets rubles rubles Fixed assets 16,096,085 17,453,384 8%

Non-current Construction in progress 4,996,885 15,167,780 204% 49% 68% assets Long-term financial investments 80,071 102,035 27% Other non-current assets 560,816 535,669 -4% Reserves 4,711,450 3,338,859 -29% Long-term accounts receivable 4,359,527 1,380,905 -68% Short-term accounts receivable 8,946,147 9,141,192 2% Current assets 51% 32% Short-term financial investments 4,068,906 1,535,643 -62% Cash 215,014 78,985 -63% Other (VAT and other current assets) 97,945 13,685 -86%

Structure of OGK-6 Fixed Assets in 2008—2009 Financial and Economic Performance Overview Index December 31, 2008 December 31, 2009 Change, % thousand rubles Share, % thousand rubles Share, % Buildings, facilities and relay devices 10,949,774 68.03% 10,687,160 61.23% -2.40% Plant and equipment, vehicles 5,077,634 31.55% 6,698,545 38.38% 31.92% Land plots and natural resources sites 29,601 0.18% 30,941 0.18% 4.53%

Other fixed assets 39,076 0.24% 36,738 0.21% -5.98%

TOTAL: 16,096,085 100% 17,453,384 100% 8.43%

ОGК-6 2009 Construction in Progress This balance item has increased by 204% in As of the end of 2009, construction in comparison with the start of the year. Such progress amounted to 15,167,780 thousand growth is related to the implementation of rubles (31% of the total value of assets). large investment projects.

As of December 31, 2008 As of December 31, 2009 Change, % Investments in non-current assets, total: 4,178,261 9,475,312 127% including real estate properties which are complete and have been commissioned, but their documents for registration of titles have not been 14,271 14,271 0% entered into the Unified State Register (by book value), real estate properties as part of properties included in the previous column 14,271 14,271 0% 38 which were constructed in the context of fulfilling investment contracts Equipment to be installed 818,624 5,692,468 595% Total 4,996,885 15,167,780 204%

Long-term Financial Investments reserves — 21.6% and short-term financial The majority of current assets are made Long-term financial investments as of investments — 9.9%. In comparison with the up of accounts receivable — December 31, 2009 were 102,035 thousand start of the year, current assets decreased rubles, an increase of 27%. Long-term by 31% to 15,489,269 thousand rubles, financial investments include the shares mainly due to the reduction of accounts 67.9%, of two subsidiary companies: Open Joint- receivable, short-term financial investments reserves — Stock Company Voskhod Agricultural Plant and reserves. (JSC SKV) and Open Joint Stock Company Accounts receivable reduced by 21% “ Novomichyrinsk аutotrasport enterprise” to 10,522,097 thousand rubles due to the 21.6% (JSC “Novomichyrinsk аutotransport decrease in advance payments for large and short-term financial investments — enterprise”), and also 45,227,455 ordinary investment projects in view of fulfillment of the shares of JSC RusHydro which were main work to implement such projects. transferred to ownership of JSC “OGK-6” as a Short-term financial investments shrank by 9.9%. result of the reorganization of JSC RAO “UES of 62% to 1,535,643 thousand rubles due to a Russia”. The growth in long-term investments reduction in deposits, from which funds were is connected with the revaluation of JSC used to cover large investment projects. RusHydro based on market quotations as of The reduction of reserves by 29% to December 31, 2009. Profit from revaluation in 3,338,859 thousand rubles at the end of 2009 2009 was 24,196 thousand rubles. is explained by the write-off of non-liquid goods and materials to the amount of 145,582 Current assets thousand rubles and the reduction of coal The majority of current assets are made reserves in 2009 (coal reserves decreased up of accounts receivable — 67.9%, by 45%) in order to bring them into line with Financial and Economic Performance Overview Long-Term Financial Investments of JSC “OGK-6” in Shares of Other Companies as of December 31, 2009

Joint-Stock Company Number of ordinary Par value of a block Book value of a block Share of OGK-6 in shares of shares, thousand of shares, thousand charter capital, % rubles rubles JSC SKV 29,894,981 29,895 30,659 100% JSC “Novomichyrinsk аutotransport enterprise” 22,112,522 22,113 18,053 100% JSC RusHydro 45,227,455 45,227 51,333 0.017% Total: 97,234,958 97,235 100,045

ANNUAL REPORT Current Assets Structure in 2008—2009

Index December 31, 2008 December 31, 2009 Change, % thousand rubles % thousand rubles % Reserves 4,711,450 21.0% 3,338,859 21.6% -29% of which: Raw materials, of which: 4,656,611 20.8% 3,291,091 21.2% -29% Fuel oil 1,429,524 6.4% 1,112,373 7.2% -22% Coal 1,746,059 7.8% 952,406 6.1% -45% Other fuel 502,696 2.2% 482,433 3.1% -4% 39 Prepaid expenses 51,847 0.2% 44,340 0.3% -14% Accounts receivable 13,305,674 59.4% 10,522,097 67.9% -21% Short-term financial investments 4,068,906 18.2% 1,535,643 9.9% -62% Cash 215,014 1.0% 78,985 0.5% -63% Other (VAT and other current assets) 97,945 0.4% 13,685 0.1% -86% Total current assets 22,398,989 100% 15,489,269 100% -31%

the established standard reserves. Reserves works has remained high and is 67% of overall On the whole, at the end of the year were accumulated at the end of 2008 in order accounts receivable or 7,064,623 thousand JSC “OGK-6” accounts receivable had to minimize expenses in 2009 and provide rubles, including 6,672,458 thousand rubles for decreased by 21% and equaled branches with fuel during the recession. implementation of priority investment projects. On the whole, at the end of the year JSC The 89% growth of accounts receivable “OGK-6” accounts receivable had decreased of purchasers and customers is due to the 10,522,097 by 21% and equaled 10,522,097 thousand increase of volume of the free sector on the thousand rubles. rubles. This reduction mainly took place due to wholesale electricity market, where payment the decrease of advances issued to suppliers is made in the month following the month that of equipment for implementation of priority supply takes place. Purchasers’ heat energy investment projects. The share of advances debt increased by 34,746 thousand rubles. issued to companies for implementation of An allowance for doubtful accounts was investment projects and payment of other created at the Company in accordance with

Accounts Receivable in 2008—2009

December 31, 2008 December 31, 2009 Change, %

thousand rubles Share, % thousand rubles Share, % Financial and Economic Performance Overview

Long-term accounts receivable 4,359,527 32.76% 1,380,905 13.12% -68.32% By period of occurrence Short-term accounts receivable 8,946,147 67.24% 9,141,192 86.88% 2.18%

Purchasers and customers 1,285,540 9.66% 2,428,457 23.08% 88.91%

Advances made 11,016,323 82.79% 7,064,623 67.14% -35.87% By type Other debtors 1,003,811 7.54% 1,029,017 9.78% 2.51%

TOTAL: 13,305,674 100% 10,522,097 100% -20.92%

ОGК-6 2009 the accounting policy. At the end of 2009 it loss on the balance sheet to the amount of (-) The share of long-term liabilities amounted to 942,927 thousand rubles; in 2,470,033 thousand rubles). The generation increased to comparison to the start of the year it grew by of undistributed profit is mainly due to the net 392,087 thousand rubles. profit of 2,813,099 thousand rubles which was 12% obtained in 2009. in the liabilities structure and the 2.5.2. Liabilities share of short-term liabilities JSC “OGK-6’s” total liabilities amount Reserve Capital decreased to to 48,748,137 thousand rubles, of which The Company’s Charter stipulates the creation 38,301,750 thousand rubles or 79% are capital of a reserve fund which is 5% of the Company’s 9%. and reserves, 5,818,399 thousand rubles or charter capital. In accordance with a Resolution 12% are long-term liabilities (loans and credits of the General Meeting of Shareholders 40 comprise 85% of long-term liabilities), and (minutes No. 10 dd. June 8, 2009), as a result 4,627,988 thousand rubles or 9% are short- of the Company’s work in 2008, 40,248 rubles term liabilities (loans and credits comprise of net profit was used to create a reserve fund. 1.4% of short-term liabilities). As of December 31, 2009, the reserve fund was The share of long-term liabilities increased 2.1% of the size of the charter capital. to 12% in the liabilities structure and the share of short-term liabilities decreased to 9%. Accounts Payable (excluding loan debts) As of January 1, 2010, JSC “OGK-6’s” accounts Capital and Reserves payable amounted to 5,325,118 thousand Capital and reserves in 2009 increased due to rubles. Debt reduced in comparison with the the growth in undistributed profit and equalled start of the year due to a reduction of 1,192,031 302,861 thousand rubles at the end of the year. thousand rubles of debt to fuel suppliers as (at the end of 2008, there was an uncovered a result of payment under agreements for

Liabilities Structure in 2008—2009

December 31, 2008 December 31, 2009 Change, % thousand rubles % thousand rubles % Capital and reserves 35,488,651 80% 38,301,750 79% 8% Loans and credits 2,923,677 4,926,005 68% Accounts payable 0 545,481 100% Long-term liabilities Other 227,953 7% 346,913 12% 291% Loans and credits 41,299 64,793 57%

Accounts payable 5,429,229 4,548,748 -16% Short-term liabilities Other 22,037 12% 14,447 9% -34% Balance currency 44,132,846 100% 48,748,137 100% 10%

Financial and Economic Performance Overview Structure of Reserve Capital as of December 31, 2009

No. Reason for generation Amount, thousand rubles

Reserves generated in accordance with the constituent documents, including: a) from the Company’s 2005 profit 19,059 b) due to reorganization by merger 116,201 1 c) from the Company’s 2006 profit 62,085 d) from the Company’s 2007 profit 93,681 e) from the Company’s 2008 profit 40,248

Total 331,274

ANNUAL REPORT Accounts Payable in 2008—2009

December 31, 2008 December 31, 2009 Change, % thousand rubles % thousand rubles % Long-term accounts payable 27,074 0.49% 769,259 14.45% 2741.32% By period Short-term accounts payable 5,443,359 99.51% 4,555,859 85.55% -16.30% of occurrence TOTAL: 5,470,433 100% 5,325,118 100% -2.66% Suppliers and contractors 3,584,603 65.53% 2,954,869 55.49% -17.57% Taxes and duties payable (including state 258,759 4.73% 743,023 13.95% 187.15% non-budgetary funds) Other creditors 1,490,466 27.25% 1,502,289 28.21% 0.79% 41 By type Debt to personnel 122,475 2.24% 117,826 2.21% -3.80% Debt to participants (founders) for payment 14,130 0.26% 7,111 0.13% -49.67% of income TOTAL: 5,470,433 100% 5,325,118 100% -2.66%

previously carried out deliveries. Long-term Interest rates for the long-term credit of Credit Portfolio as of December 31, 2009 liabilities increased by 742,185 thousand rubles CJSC UniCredit Bank in 2009 and 2008 varied 41% due to the delivery of equipment for large from 7.5% to 4.5% and from 8.625% to 7.5% investment projects (545,481 thousand rubles) respectively. and the increase of tax debt. The interest rate for credit from OJSC A large share (28%) is a 1,502,289 ruble Moscow Credit Bank did not change in 2009 debt to other creditors, of which 1,320,973 and was 14%. thousand rubles are advances received, The Company did not have any short-term including for connection (1,264,306 thousand credits. In short-term liabilities, line 610 of rubles) (excluding VAT). the balance sheet specifies interest payable for 58% Out of overall accounts payable, 3.3% was long-term credits which was 23,173 thousand 1% overdue, or 150 million rubles. rubles as of December 31, 2009 and 274 Series 01 Bonded Loan thousand as of January 1, 2009. (rubles) 2,874,136 Loans and Credits Additional expenses connected with Credit from OJSC Moscow Credit Bank The financial debt of JSC “OGK-6” as of obtaining credits equalled 4,000 thousand (rubles) 2,000,000 December 31, 2009 was 4,926,005 thousand rubles in 2009. The Company did not have any Credit from UniCredit Bank rubles. The total amount of credit received in overdue credits as of December 31, 2009 and (euros) 51.869% 2009 was 2,000,000 thousand rubles (44,082 January 1, 2009. thousand rubles in 2008). Financial and Economic Performance Overview

Loans and Credits in 2008—2009

Creditors and lenders Currency Redemption Amount of credit as of Amount of credit as of date January 1, 2009 thousand December 31,2009 thousand rubles (EUR) rubles (EUR) CJSC UniCredit Bank rubles (EUR) June 19, 2013 49,541 (1,195,452) 51,869 (1,195,452) OJSC Moscow Credit Bank rubles September 30, — 2,000,000 2011 Bond holders rubles April 19, 2012 2,874,136 2,874,136 Total: 2,923,677 4,926,005

ОGК-6 2009 The total amount of the bonded loan at There were no overdue loans as of December The management of JSC “OGK-6” rates the start of the year was 2,874,136 thousand 31, 2009 and January 1, 2009. the current debt load as permissible. rubles. The amount of the bonded loan The management of JSC “OGK-6” rates the did not change throughout the year. The current debt load as permissible. remainder of unpaid interest as of January 1, 2009 was 41,025 thousand rubles. 217,017 Financial Indices of JSC “OGK-6” for 2009 thousand rubles of interest was accrued in The indicators of the financial condition of a 2009 (in 2008 — 261,574 thousand rubles), joint-stock company are its financial indices 216,422 thousand paid (for 2008 — 289,850 which are calculated on the basis of financial thousand rubles). The remainder of unpaid statements (balance sheet (form 1) and a profit interest was 41,620 thousand rubles. The and loss statement (form 2). 42 interest rate for the bonded loan did not For 2009, the indices for liquidity and change in 2009 or 2008 and was 7.55%. financial soundness are within the normal

The financial indices as of December 31, 2009 are given in the table:

Ratio Name Formula for calculating indices Norm Index

Liquidity Indices

R1 Absolute liquidity ratio (line 260, form 1+line 250, form 1) / line 690, form 1 >0.15 0.349

R2 Quick assets ratio (line 260, form 1+line 250, form 1+line 240, form 1) / line 690, form 1 >0.95 2.324

R3 Current liquidity ratio line 290, form 1 / line 690 form 1 >2 3.347

Financial Soundness Indices

R4 Equity to total assets ratio line 490, form 1 / line 300, form 1 >0.8 0.786

Returns Indices

R5 Return on sales (ROS) (line 050, form 2 / line 010 form 2)*100 >15% 12.133

R6 Return on equity (ROE) (line 190, form 2 / (line 490, form 1 as of the end of the accounting period + >5% 7.625 line 490, form 1 as of the beginning of the accounting period)*0.5)*100

R7 Return on assets (ROA) line 190, form 2 / line 300 form 1 * 100 >3% 5.771

Indices of Business Activity

R8 Dynamics of accounts receivable (((line 240, form 1 + line 230, form 1) as of the end of the accounting <-10 -20.92 period — (line 240, form 1 + line 230, form 1) as of the beginning of the accounting period) / (line 240, form 1 + line 230, form 1) as of the beginning of the accounting period)*100

R9 Dynamics of accounts payable ((line 620 form 1 as of the end of the accounting period — line 260 form <-10 -16.217 Financial and Economic Performance Overview 1as of the beginning of the accounting period) / line 260, form 1 as of the beginning of the accounting period)*100

R10 Ratio of accounts receivable to accounts payable (line 240, form 1+line 230, form 1) / line 620, form 1 1.2-1.5 2.313

ANNUAL REPORT figures or deviate slightly. The current liquidity a positive financial result: net profit was Debt to EBITDA Ratio ratio is 3.347 (the norm is greater than 2), the 2,813,099 thousand rubles. However, return 1.81 absolute liquidity ratio is 0.349 (the norm is on sales did not reach a normal value and was greater than 0.15), the quick assets ratio is 12.1% (the norm was 15%); the indices for 2.324 (the norm is greater than 0.95), and the return on equity and assets exceeds the normal equity to total assets ratio is 0.786 (the norm is values for these indices. 0.97 greater than 0.8). Accounts receivable and accounts payable The equity to total assets ratio shows reduced in comparison with the start of the share of equity in assets and specifies the year and the level of reduction exceeds the degree of financial independence from the normal value. As a result of 2009, the creditors. The reduction of the equity to total Company has a low debt level which is assets ratio with regard to the normal figure less than 1 to EBITDA with a normal debt 2008 2009 43 is connected with the growth of non-current level < 4 which evidences the Company’s assets and the increase of borrowed funds due high solvency. to implementation of the Company’s investment The indices for the Company’s activity in The indices for the Company’s activity in program. The Company’s liquidity ratios are 2009 show that the Company occupies a sound 2009 show that the Company occupies a within the normal values and this means that financial position, acquired non-current assets sound financial position. the Company has a sufficient amount of current using its own funds and that it has a sufficient assets to carry out its business activity and amount of equity to fulfill its short-term repay accrued liabilities in due time. As a result liabilities and cover operating expenses without of its activity in 2009, the Company obtained losing its current assets. Financial and Economic Performance Overview

ОGК-6 2009 The power of creation 3 Industrial Activity

3.1. Electricity Generation 3.2. Heat Generation 3.3. Specific Consumption of Equivalent Fuel (SCEF) for Generation of Electricity and Heat 3.4. Fuel Consumption 3.5. Power Generation Equipment Maintenance and Repair

All our actions have repercussions. Even the greatest deeds have to start with something small and the simplest effort can lead to significant achievements. 3

Industrial Activity

3.1. Electricity Generation Electricity consumption in the Unified Power The amount of electricity generated There had been strong growth of electricity System of Russia in 2009 was 942.8 billion by JSC “OGK-6” plants in 2009 was consumption in Russia since 2005. This was kWh, 4.7% less than the amount of consumption million kWh. stopped by the global financial recession in 2008 in 2008. Overall electricity generation in Russia and as a result of this, the growth rate of industrial in 2009 was 979 billion kWh, 4% less than in 28,953 output decreased. From November 2008 2008. Plants of the Unified Power System of onwards, the generation of electricity in Russia Russia generated 957 billion kWh (4.9% less began to drop. In November 2008 generation of than in 2008); in separate energy systems a total electricity dropped by 5.75% and in December of 21.6 billion kWh was generated (generation 2008 — by 5%. The amount of electricity increased by 1.8%). generated by JSC “OGK-6” plants in 2009 was The plants which became branches of JSC 28,953 million kWh, 25% less than in 2008. “OGK-6” displayed stable growth of performance

Generation of Electricity, million kWh

2005 2006 Change 2007 Change 2008 Change 2009 Change Russia in general, million kWh 953,000 996,078 5% 1,016,000 2% 1,023,000 1% 978,600 -4% OGK-6, million kWh 28,0061 32,904 17% 34,065 4% 38,857 14% 28,953 -25% OGK-6 share in electricity 2.94% 3.30% 12% 3.35% 2% 3.80% 13% 2.96% -22% generation in Russia

Generation of Electricity at OGK-6, million kWh OGK-6 Share in Electricity Generation in Russia, % 40,000 38,857 3.8 3.4 35,000 3.3 3.0 Industrial Activity 32,904 34,065 2.9

30,000 28,953 28,006 25,000

20,000 2005 2006 2007 2008 2009 2005 2006 2007 2008 2009

1 In 2005, generation is displayed taking into account the plants which subsequently became branches of OGK-6.

ANNUAL REPORT indicators until the end of 2008. The growth rate • when total Russian generation increases, of electricity generation at JSC “OGK-6” exceeded generation at JSC “OGK-6” increases at a the growth rate of electricity generation in Russia. faster than average rate. The share of JSC “OGK-6” on the Russian • when total Russian generation decreases, electricity market has increased year by year. In generation at JSC “OGK-6” decreases at a 2005, 2006, 2007, 2008 it reached 2.9%, 3.3%, faster than average rate. 3.4% and 3.8% respectively. In 2009 the share of Electricity generation at JSC “OGK-6” has OGK-6 in the total generation in Russia reduced a seasonal character. In the spring-summer by 22% and reached 3%. period the generation of electricity decreases. Due to the fact that the plants of JSC “OGK-6” do not enjoy the highest fuel Capacity Factor efficiency in comparison with its competitors For reference: The capacity factor (CF) is 47 and there is a significant share of coal in the equal to the ratio of actual electric power fuel balance of JSC “OGK-6”, the generation of generation for a given period to the possible electricity correlates with the average Russian electric power generation for the same period generation as follows: under conditions of operating at full capacity

Dynamics of Electricity Generation in 2007—2009, mln. kWh

10,751

9,380 9,110 9,213 8,128 7,364 6,799 6,645 6,488 4,956 5,019 4,692

3,396 3,382 2,373 1,824 1,763 594

2007 2008 2009 2007 2008 2009 2007 2008 2009 2007 2008 2009 2007 2008 2009 2007 2008 2009

Ryazanskaya GRES Novocherkasskaya GRES Kirishskaya GRES Krasnoyarskaya GRES-2 Cherepovetskaya GRES GRES-24

Dynamics of Electricity Generation in 2007—2009, mln. kWh

2007 2008 2009 Industrial Activity ОGK-6, total 34,065 38,857 28,953 Ryazanskaya GRES 8,128 9,110 6,799 Novocherkasskaya GRES 9,380 10,751 9,213 Kirishskaya GRES 6,645 6,488 4,956 Krasnoyarskaya GRES-2 4,692 7,364 5,019 Cherepovetskaya GRES 3,396 3,382 2,373 GRES-24 1,824 1,763 594

ОGК-6 2009 Generation of electricity in 2009, million kWh Ryazanskaya Novocherkasskaya Kirishskaya Krasnoyarskaya Cherepovetskaya GRES-24 OGK-6 GRES GRES GRES GRES GRES Jan 540.1 1,005.0 386.7 652.9 169.9 149.9 2,904.4 Feb 498.1 666.4 299.7 627.4 192.9 141.6 2,426.1 Mar 543.2 669.5 323.3 376.4 182.7 151.5 2,246.5 Apr 516.5 700.6 332.5 209.9 161.0 101.7 2,022.2 May 520.9 549.2 342.5 239.7 120.1 49.2 1,821.5 Jun 536.4 517.3 327.7 186.8 128.1 — 1,696.3 48 Jul 563.5 702.3 450.2 214.6 175.7 — 2,106.4 Aug 610.4 717.8 373.6 361.0 270.5 — 2,333.3 Sept 628.7 818.7 533.2 540.7 288.1 — 2,809.5 Oct 658.3 854.2 623.2 435.5 248.8 — 2,820.1 Nov 503.5 908.8 428.8 463.5 207.0 — 2,511.6 Dec 679.2 1,102.6 534.0 711.1 228.3 — 3,255.1 TOTAL 6,798.8 9,212.5 4,955.5 5,019.4 2,3731 593.7 28,953.0

without shutdowns. The CF indicates the The CF depends on the generation of plants, In 2009, the capacity factor level of capacity utilization for electric power which varies in accordance with the demand decreased from generation. for electricity. The technical state of equipment to . allows it to be fully loaded. Throughout the year CF = (V )/(N × t) × 100% it is not uncommon for the equipment to be e inst 49% 37%. fully loaded during peak periods. where: In 2009, the capacity factor decreased from

Ve is the volume of electric power generated 49% to 37%. The decrease in the CF of plants for the period, kWh; is connected with the reduction of energy

Ninst is the installed capacity, kWh; consumption in the regions, and also with the t is the number of calendar hours in a period, decrease in prices in the unregulated segment in hours.

CF Dynamics in 2007—2009, %

67% 67% 62% 65% 58% 61% 51% 49% 50% 46% Industrial Activity 43% 43% 43% 39% 37% 35% 36% 35% 29% 27% 22%

2007 2008 2009 2007 2008 2009 2007 2008 2009 2007 2008 2009 2007 2008 2009 2007 2008 2009 2007 2008 2009

OGK-6 Ryazanskaya Novocherkasskaya Kirishskaya Krasnoyarskaya Cherepovetskaya GRES-24 Total GRES GRES GRES GRES-2 GRES

ANNUAL REPORT CF Dynamics in 2007—2009, %

2007 2008 2009 ОGK-6, total 43% 49% 37% Ryazanskaya GRES 35% 39% 29% Novocherkasskaya GRES 51% 58% 50% Kirishskaya GRES 36% 35% 27% Krasnoyarskaya GRES-2 43% 67% 46% Cherepovetskaya GRES 62% 61% 43% GRES-24 67% 65% 22%

49 of the market which lead to a situation where 13%, and by 8% at Novocherkasskaya GRES it became more economically feasible to and Kirishskaya GRES. The sharp drop in CF at purchase electricity on the open market to fulfill GRES-24 is explained by the withdrawal of a regulated contracts. power unit for modernization in July 2009. Production of heat energy at JSC The largest CF in 2009 was at “OGK-6” in 2009 made up Novocherkasskaya GRES: 50%, and at 3.2. Heat Generation Krasnoyarskaya GRES-2: 46%. The largest Production of heat energy at JSC “OGK-6” reductions in CF in 2009 versus 2008 took place in 2009 made up 4,376.8 thousand Gcal, 4,376.8 at Krasnoyarskaya GRES-2 and Cherepovetskaya that is 27 thousand Gcal or 1% more than in thousand Gcal. GRES, by 21% and 18% respectively. At 2008. The delivery of heat energy took place Ryazanskaya GRES this indicator reduced by according to consumer orders.

Dynamics of Heat Generation by OGK-6 Plants in 2006—2008, thousand Gcal

2,700 2,664 2,648

1,260 1,178 1,175

271 265 260 96 101 96 114 110 113

2007 2008 2009 2007 2008 2009 2007 2008 2009 2007 2008 2009 2007 2008 2009

Ryazanskaya GRES Novocherkasskaya GRES Kirishskaya GRES Krasnoyarskaya GRES-2 Cherepovetskaya GRES Industrial Activity

Dynamics of Heat Generation by OGK-6 Plants in 2006—2008, thousand Gcal

2007 2008 2009 ОGK-6, total 4,322 4,350 4,377 Ryazanskaya GRES 271 265 260 Novocherkasskaya GRES 96 101 96 Kirishskaya GRES 2,664 2,700 2,648 Krasnoyarskaya GRES-2 1,178 1,175 1,260 Cherepovetskaya GRES 114 110 113

ОGК-6 2009 Kirishskaya GRES and Krasnoyarskaya heating value of 7,000 kcal/kg (29.31MJ/kg). GRES-2 have the largest share in generation of The relationships between units of equivalent heat energy at JSC “OGK-6”. The other plants and physical fuel are expressed by the produce little volumes of heat sufficient for following formula: their own needs and nearby villages. P Heat energy generation at JSC “OGK-6” has Qɧ ȼɭ = ɗȼ ⋅= ȼ ɧɧ , a seasonal character. The main income from 7000 sales of heat energy is received in the period where:

from October to March. By is the amount of equivalent fuel, kg;

Вн is the amount of physical solid or liquid 3.3. Specific Consumption of (kg) and gaseous fuel (m3); P 50 Equivalent Fuel (SCEF) for Qɧ is the heating value as per chemical Generation of Electricity and Heat laboratory data of solid, liquid or gaseous For reference: Using different types of fuel fuel in kcal/kg (MJ/kg) or kcal/m3 (MJ/m3) (solid, liquid and gaseous) makes a generalized respectively; quantitative calculation of their consumption QɊ for power generation impossible without a ɗ = ɧ — caloric equivalent. 7000 special procedure of converting different units (tons, m3) into a comparable form. The average caloric values are 7,900 kcal/ For this reason in technical records, physical kg for gas, 9,800 kcal/kg for fuel oil; for coal fuel is converted into equivalent fuel. the caloric value varies depending on the coal An equivalent fuel unit is an accounting unit grade from 2,200 kcal/kg to 6,250 kcal/kg. used to compare the effectiveness of different Data on consumption of fuel in equivalent types of fuel and their total amounts. The units is used for planning and analyzing the accepted equivalent unit is 1 kg of fuel with a specific consumption of fuel for producing a

Specific Consumption of Equivalent Fuel for Generating Electricity in 2007—2009, gef/kWh

2007 2008 2009 ОGK-6, total 361 362 366 Ryazanskaya GRES 347 350 348 Novocherkasskaya GRES 371 370 373 Kirishskaya GRES 345 345 350 Krasnoyarskaya GRES-2 389 386 390 Cherepovetskaya GRES 379 372 377 GRES-24 323 328 335 Industrial Activity Specific Consumption of Equivalent Fuel for Heat Generation in 2007—2009, kgef/Gcal

2007 2008 2009 ОGK-6, total 151 152 152 Ryazanskaya GRES 181 182 183 Novocherkasskaya GRES 195 196 195 Kirishskaya GRES 142 141 141 Krasnoyarskaya GRES-2 157 163 162 Cherepovetskaya GRES 186 184 184

ANNUAL REPORT unit of energy and for calculating the cost of The fuel supply strategy is aimed at In 2009 JSC “OGK-6” had the following production of heat and electricity. optimizing the fuel mix in order to minimize fuel fuel mix: Using equivalent fuel is particularly costs. It provides for the maximum possible convenient for comparing the efficiency of replacement of expensive fuel oil with other 48% different heat and power installations. The value types of fuel, fuel purchases through tendering of coal, of SCEF is also influenced by GRES mode of and conclusion of long-term contracts for fuel operation. The SCEF of a plant increases if its supply. 51% coal units are operational. On the whole in 2009 JSC “OGK-6” of gas and of fuel oil. Using equivalent fuel allows a fuel mix or a total consumed 8,345 million tons of physical fuel energy mix of the overall industry to be made up. i.e. 2,950 million tons less than in 2008 or a 1% In 2009 the specific consumption of 26% decrease. The significant decrease in fuel equivalent fuel for generation of electricity consumption in 2009 is due to the reduction of 51 throughout JSC “OGK-6” increased by 4 g/kWh. generation. This was due to the reduction of generation. Gas consumption in 2009 decreased by 1,512 million m3 (a 24% reduction) and was 3.4. Fuel Consumption equal to 4,716 million m3. This reduction was In 2009 JSC “OGK-6” had the following fuel caused by a drop in electricity generation. mix: 48% of coal, 51% of gas and 1% of fuel Consumption of fuel oil in 2009 amounted oil. This was the same fuel mix as in 2008. to 45 thousand tons which is 55 thousand tons

Fuel Mix of OGK-6 in 2007—2009, %

2007 2008 2009

44% 48% 48%

55% 51% 51% 1% 1% 1%

gas coal fuel oil

Fuel Mix of OGK-6 by Plants, % Industrial Activity 2007 2008 2009 Coal Gas Fuel oil Coal Gas Fuel oil Coal Gas Fuel oil OGK-6 44 55 0.8 48 51 1 48 51 1 RGRES 32 68 0.1 38 60 2 26 74 0.2 NChGRES 60 40 0 56 43 0.6 66 34 0.1 KiGRES — 96 4 — 98 2 — 98 2 KGRES-2 99.9 — 0.1 99.8 — 0.2 99.8 — 0.2 ChGRES 56 44 0.1 45 54 0.6 37 63 0.1 GRES-24 — 100 — — 100 — — 100 —

ОGК-6 2009 Fuel Consumption in Physical Units

Gas, mln. m3 Coal, thousand tons Fuel oil, thousand tons

2007 2008 2009 2007 2008 2009 2007 2008 2009

ОGK-6, total 5,890.3 6,227.8 4717.7 8,968.7 11,295.4 8,345.1 69.9 100.4 45.29

RGRES 1,628.6 1,624.5 1,438.5 1,893.5 2,465.6 1,375.6 1.6 42.02 4.52

NChGRES 1,156.5 1,418.6 948.9 2,614.5 2,947.7 2,949.8 0 15.95 2.28

KiGRES 2,141.4 2,135.5 1,693.4 — — — 65.3 33.76 34.32

KGRES-2 — — — 3,451.5 5,070.1 3,560.2 1.9 3.85 3.36 52 ChGRES 470.3 565.9 471.4 1,009.1 812.1 459.5 1.1 4.77 0.79

GRES-24 493.5 483.3 165.5 — — — — — —

Fuel Consumption in 2007—2009, equivalent fuel in tons

Gas, thousand tons Coal, thousand tons Fuel oil, thousand tons Total, thousand tons

2007 2008 2009 2007 2008 2009 2007 2008 2009 2007 2008 2009

ОGK-6, total 6,747 7,138 5,420 5,388 6,642 5,073 98 138 62 12,232 13,918 10,556

RGRES 2,428 2,413 1,846 893 1,185 637 2 58 6 3,323 3,656 2,489

NChGRES 1,336 1,639 1,094 1,968 2,122 2,156 0 5 5 3,305 3,783 3,253

KiGRES 2,445 2,439 1,941 — — — 92 47 48 2,537 2,486 1,989

KGRES-2 — — — 1,841 2,791 1,968 3 21 3 1,844 2,796 1,973

ChGRES 537 646 538 685 544 312 1 7 1 1,223 1,197 852

lower than in 2008. JSC “OGK-6” strives to and affiliated companies), at state-regulated The volume of limited gas used by JSC minimize the fuel oil consumption because it is prices (RF FTS). The volumes of limited gas are “OGK-6” plants in 2009 decreased in expensive. However, JSC “OGK-6” cannot stop established for every plant by JSC “GAZPROM”. comparison with 2008 by consuming fuel oil. In 2007, the Company concluded long-term contracts on supplying limited gas up to 2012 5%. 3.4.1. Gas Consumption with JSC “GAZPROM”. According to all long- The volume of unlimited gas supply The volume of limited gas used by JSC term contracts, prices for limited gas shall be (above-limit, commercial and additional) “OGK-6” plants in 2009 decreased in established in compliance with FTS Order. decreased by

Industrial Activity comparison with 2008 by 5%. The volume of Above-limit gas — actual amount of gas unlimited gas supply (above-limit, commercial received in excess of volume agreed on in 52% and additional) decreased by 52% in 2009 as the limited gas supply contract. Penalties in 2009 as compared with 2008. compared with 2008. are charged if an amount which exceeds the Companies affiliated with JSC “GAZPROM” contract volume is consumed. supply gas to JSC “OGK-6”. The gas consumed Commercial gas — gas produced by by JSC “OGK-6” can be divided into the independent companies which are not following types: affiliated with “JSC GAZPROM”. The price for Limited gas — gas volume sold by JSC commercial gas is not regulated by the state “GAZPROM” (produced by JSC “GAZPROM” (RF FTS).

ANNUAL REPORT Fuel Cost Structure in 2008—2009, thousand rubles

2007 2008 2009

thousand rubles thousand rubles thousand rubles Total expenses 17,899,160 24,271,556 19,210,071 Coal 6,571,642 9,216,834 7,664,991 Gas 10,890,570 14,476,351 11,205,457 Fuel oil 436,948 578,371 339,623 Ryazanskaya GRES 4,492,161 6,312,947 5,123,713 Coal 1,689,878 2,644,573 1,630,787 Gas 2,795,792 3,471,675 3,467,468 53 Fuel oil 6,491 196,699 25,459 Novocherkasskaya GRES 4,739,782 6,965,573 6,172,530 Coal 2,615,955 3,541,578 3,764,005 Gas 2,123,827 3,356,768 2,393,262 Fuel oil 67,227 15,263 Kirishskaya GRES 4,836,059 5,739,735 4,006,582 Coal Gas 4,418,671 5,472,867 3,991,319 Fuel oil 417,388 266,868 272,302 Krasnoyarskaya GRES-2 1,206,690 2,115,657 1,691,327 Coal 1,196,419 2,087,690 1,676,064 Gas 0 Fuel oil 10,271 27,967 22,243 Cherepovetskaya GRES 1,744,382 2,058,672 1,583,117 Coal 1,069,390 942,993 594,135 Gas 672,194 1,096,069 984,625 Fuel oil 2,797 19,610 4,356 GRES-24 880,085 1,078,972 368,783 Coal Gas 880,085 1,078,972 368,783 Fuel oil

Gas Consumption (by Types of Gas Used) in 2007—2009, million m3

2007 2008 2009

Limited Above- Com- Addi- Gas, Limited Above- Com- Addi- Gas, limited Above- Com- Addi- Gas, gas limit mercial tional total gas limit mercial tional total gas limit mercial tional total Industrial Activity gas gas gas gas gas gas gas gas gas

ОGK-6, total 3,650.3 414.30 1,065.10 760.50 5,890.3 3,676.60 46.7 662.8 1,841.8 6,227.8 3,486.07 40.39 69.38 1,121.87 4,717.70 RGRES 1,420.2 80.30 21.70 106.30 1,628,6 1,451.20 11.4 72.9 89 1,624,5 1,408.92 10.74 18.86 1,438.53 NChGRES 925.4 63.00 168.10 0.00 1,156,5 926.20 0.5 0 491.9 1,418,6 926.70 22.17 948.87 KiGRES 539.6 173.50 792.80 635.50 2,141,4 507.80 32.3 411.8 1,183.5 2,135,5 513.54 29.63 69.38 1,080.83 1,693.38 ChGRES 436.4 33.90 0.00 0.00 470.30 427.00 0.6 138.3 0 565,9 471.40 0.01 471.41 GRES-24 328.7 63.60 82.50 18.70 493.50 364.30 1.9 39.7 77.4 483,3 165.51 0.01 165.51

ОGК-6 2009 Additional gas — gas volume allotted by JSC 3. The supplier is sent a request in a timely Gas Costs (by Type of Gas Used) in 2009 “GAZPROM” (produced by JSC “GAZPROM” fashion to reduce the contractual gas vol- and affiliated companies), in excess of volume umes or a resolution is passed on reduc- 23% according to the limited gas supply contract ing the consumption of replacement types at prices according to the Russian Federation of fuel in order to avoid insufficient gas Government Decree No. 333 dd. May 28, 2007. usage. Prices for additional gas are fixed within the range of maximum and minimum limit prices 4. Dispatch schedules are agreed on in 2% established according to the procedure set order to reduce the risk of penalties 1% by the Russian Federation Government in charged for excessive daily gas usage in 74% accordance with Decree No. 333 dd. May 28, the event of uneven loading of the gas- 54 fuel oil units. 2007. In accordance with Decree No.333 dd. Limited gas May 28, 2007 the maximum limited gas price Above-limit gas factor from January 1, 2009 was 1.4, from July 3.4.2. Coal Consumption 2009 — 1.3, from January 2010 — 1.2 and Contracts for coal supply for the needs of Commercial gas from July 2010 — 1.1. JSC “OGK-6” branches, with the exception Additional gas In order to reduce costs of penalties for of supply of Podmoskovny basin coal for insufficient or excessive gas use, JSC “OGK-6” Ryazanskaya GRES, and Borodinsky coal for takes the following actions: Krasnoyarskaya GRES-2 were concluded on the basis of tenders; this helped to create a 1. In order to minimize penalties for insuf- competitive environment, to reduce coal price ficient or excessive gas use current con- growth rates, preserve the 2008 price for tracts (apart from gas supply contract Kansko-Achinsky coal supplied to Ryazanskaya for Kirishskaya GRES) provide for a gas GRES and reduce the price for Khakassiya coal metering procedure according to which in supplied to Cherepovetskaya GRES by 7% in the case of insufficient or excessive gas comparison with 2008. use, a penalty shall be calculated based on Ryazanskaya GRES is supplied with limited gas prices only which significantly Podmoskovny basin coal, and Krasnoyarskaya minimizes the size of the penalty. GRES-2 is supplied with Borodinsky coal on the basis of long-term supply contracts. 2. Orders on gas supply are made on the ba- Krasnoyarskaya GRES-2 is supplied with sis of the additional gas supply contract to Borodinsky coal on the basis of a long-term avoid excessive monthly use of gas. supply contract concluded with JSC SUEK in

The Structure of Gas Consumption by OGK-6 Plants in 2007—2009, %

2007 2008 2009

13% 30% 24% Industrial Activity

18% 11% 1% 7% 1% 62% 1% 59% 74%

Limited gas Above-limit gas Commercial gas Additional gas

ANNUAL REPORT Gas Cost Structure for 2008—2009 2007 2008 2009

thousand rubles thousand rubles thousand rubles Gas, total 10,890,570 14,476,351 11,205,457 Limited gas 5,913,079 7,455,430 8,238,913 Above-limit gas 846,110 116,742 128,621 Commercial gas 1,466,329 1,777,159 237,424 Additional gas 2,665,052 5,127,021 2,600,489 Ryazanskaya GRES 2,795,793 3,471,675 3,467,468 55 Limited gas 2,334,062 2,992,192 3,383,708 Above-limit gas 168,022 28,682 37,420 Commercial gas 45,161 205,372 46,340 Additional gas 248,548 245,429 Novocherkasskaya GRES 2,123,826 3,356,768 2,393,262 Limited gas 1,583,046 1,972,180 2,328,025 Above-limit gas 131,292 575 Commercial gas Additional gas 409,488 1,384,013 65,237 Kirishskaya GRES 4,418,672 5,472,867 3,991,319 Limited gas 840,567 985,398 1,173,831 Above-limit gas 366,272 121,231 91,152 Commercial gas 1,268,508 1,122,054 191,084 Additional gas 1,943,325 3,244,183 2,535,252 Cherepovetskaya GRES 672,194 1,096,069 984,625 Limited gas 615,282 754,655 984,598 Above-limit gas 56,912 1,163 27 Commercial gas 340,251 Additional gas GRES-24 880,085 1,078,972 368,772 Limited gas 540,121 751,005 368,750 Above-limit gas 123,612 5,554 33 Commercial gas 152,661 109,482 Additional gas 63,691 212,931 Industrial Activity

Main Gas Suppliers

Supplier Share in the total fuel supply, % 2007 2008 2009

CJSC Peterburgregiongaz 43 38 38 LLC Ryazanregiongaz 32 31 33 Rostovregionyaz 19 23 21

ОGК-6 2009 2007. The contract is valid until December 31, 3.5. Power Generation Equipment It was planned to carry out overhaul 2010, yearly price indexation is 12%. Maintenance and Repair and mid-life repairs of equipment with In addition to this, a supply contract for All technical work in the repair program for capacities of MW in Pereslavl coal with the price of a ton of 2009 was aimed at ensuring the working equivalent fuel which was 7% less than the price condition of equipment, reliability, safety and 2,093 for Borodinsky coal was concluded in 2009. 625 efficiency of its operation as well as optimal order to provide for the required power thousand tons of Pereslavl coal was supplied labor and material costs. supply reliability in 2009. in 2009; 26 million rubles (including VAT) were The schedule for carrying out repairs of saved by purchasing alternative coal. branch equipment in 2009 was drawn up with Coal is delivered to the branches of JSC consideration of the forecasted non-failure “OGK-6” via railway. The services rendered by operation time of the energy units which was 56 transport companies are paid on the basis of based on the results of inspections of the Price List 10-01 according to tariffs approved condition of equipment and metals, buildings and by the Federal Tariff Service of the Russian facilities which were conducted by specialized Federation. companies. It was planned to carry out overhaul and 3.4.3. Fuel Oil Consumption mid-life repairs of equipment with capacities of Framework contracts for the delivery of fuel 2,093 MW in order to provide for the required oil in 2009 for the needs of the JSC “OGK-6” power supply reliability in 2009. The 2009 branch Krasnoyarskaya GRES-2 were annual repairs plan was 100% fulfilled. concluded on the basis of an open tender which Besides this, during technical upgrading and resulted in the selection of 3 winners. Suppliers reconstruction, a large amount of work was were selected on the basis of closed bids when carried out to replace heating surfaces of unit fuel oil was required. No. 7 of Novocherkasskaya GRES.

Main Coal Suppliers (with a share in the total fuel supply which is greater than 10%)

Supplier Share in the total fuel supply, % 2007 2008 2009 LLC SouthernFuelCompany (in 2007 it was called LLC Rostovuglsbyt) 11% 10% 18% OJSC “Russian Coal” (in 2007 it was called LLC RusUgolProm) 12% 11% 17% OJSC SUEK 17% 15% “Donugol” 4% 6% 13% CJSC Trading House Ellite 32% 28% 13% PJSC “Krasnoyarskkrayugol” 3% JSC Mossbasugol 2% 1% 2% JSC “CC “Kuzbassrazrezugol” 9% 5% 2% LLC “Tsentrrazrezugol” 11% 6% Industrial Activity

ANNUAL REPORT In 2009, the planned transfer from the GRES in 2009. This work was aimed at system of planned and preventative repairs increasing the removal of ash and slag to service maintenance of the primary and waste which in turn results in a decrease in auxiliary equipment continued. environmental payments. In consideration of the positive experience in In 2009 the Company implemented plans to 2008, work was continued to introduce service improve the maintenance and repair system. maintenance for vacuum systems and carry out The implementation of this project enabled actions aimed at reducing vacuum chucks and the Company to optimize the number of improving condensers’ vacuum and the heat repair personnel which lead to a reduction of exchange process. personnel expenses. Within the framework of major investment At Novocherkasskaya GRES the Maintenance projects, at Ryazanskaya GRES and Kirishskaya and Repair (MR) information system was test 57 GRES developmental work with the key Russian launched in 2009 for the purposes of optimizing and foreign manufacturers of energy equipment planning, implementation and control of power was initiated for service maintenance of next generation equipment repair processes. generation facilities. The management of repair processes On the basis of the experience of service throughout the 2009 repair campaign which maintenance of pulverized-coal systems in took the ranking of repair program measures by 2008, at Cherepovetskaya GRES the green priority, the regulation of planning processes light was given to a pilot project for service and the progress of repairs, introduction of maintenance of basic equipment — turbines real-time management accounting, raising the and boilers. requirements for contractors and accepting A large amount of work to repair the ash equipment into consideration made 2009 a and slag removal systems was carried out at successful year and fulfilled all the planned Ryazanskaya GRES and Novocherkasskaya repair program measures. Industrial Activity

ОGК-6 2009 the power of opportunities 4 Sales of Electricity and Heat

4.1. Information on the Electricity Market Structure 4.2. System of the Company’s Contracts on the Wholesale Electricity and Capacity Market 4.3. Electricity Supply 4.4. Capacity Sales 4.5. Heat Supply 4.6. Electricity, Capacity and Heat Sales Revenue Structure

Looking back, we see only the one path that we followed. Ahead is a multitude of new horizons and opportunities. This gives us energy for the way ahead. 4

Sales of Electricity and Heat

4.1. Information on the Electricity participant’s electricity needs, taking into Market Structure account the necessary reserve. The primary market for sales of products The Wholesale Market is a system of generated by the Company’s branches is the contract relations between participants/entities Wholesale Electricity and Capacity Market. In interconnected by a unified technological addition to this, the Company supplies electric process of the generation, transmission, power, heat and water to local consumers distribution and consumption of electricity and enterprises on the retail market, including and capacity in the UES of Russia. Wholesale housing and public utility organizations. Energy Market entities are the companies Electricity retail markets are a sector for which purchase and sell electricity (capacity) distributing electricity outside the wholesale and/or provide infrastructure services on the market with the participation of electricity Wholesale Energy Market (System Operator — consumers. «SO UPS», JSC and the Federal Grid Company The Wholesale Electricity and Capacity “FGC UES” JSC). Market (hereinafter referred to as the Wholesale The functioning of the Wholesale Market Market or OREM) is the sector for distributing commercial infrastructure is ensured by the electricity and capacity within the Unified Not-for-Profit Partnership Market Council Energy System of Russia in the Russian for Arrangement of the Effective System of Federation economic area with the participation Electricity and Capacity Retail and Wholesale of major producers and major buyers of electric Trade (hereinafter — NP Market Council) power which have obtained the status of established in accordance with the Federal Act Wholesale Market entities and operate on the On Electric Power. basis of the Wholesale Market regulations. Responsibility for arrangement of purchases Areas are unified as prices zones within the and sales of electricity on the Wholesale Market wholesale market: the First Price Zone (Europe (trade system of the Wholesale Market) is and the Urals) and the Second Price Zone borne by the Joint-stock company “Trading (Siberia). System Administrator of Wholesale Electricity Generating capacity (hereinafter referred to Market Transactions” (JSC “TSA”).

Sales of Electricity and Heat as capacity) is traded in order to ensure reliable The settlement system between the and uninterrupted supply of electricity on the Wholesale Market participants is supported by Wholesale Market. It is a special product, the JSC Center of Financial Settlements, a clearing purchase of which provides market participants company. with the right to claim availability of generating In 2009, wholesale electricity and capacity equipment for power generation of a fixed trade was carried out in accordance with the quality to the amount required to meet the Regulations of the Wholesale Electricity and

ANNUAL REPORT Capacity Market effective as of September 1, 4.1.1. Regulated Contracts (RC) is the trade 2006 (Russian Federation Government Decree of electricity (capacity) at regulated prices (rates) No. 529 dd. August 31, 2006) as well as the on the basis of regulated electricity and capacity Regulations of the Wholesale Electricity and purchase and sale contracts. In accordance with Capacity Market for the Transition Period Russian Federation Government Decree No. (Russian Federation Government Decree No. 205 dd. April 7, 2007, from January 1 to June 476 dd. June 28, 2008 On Amendments to 30,65% to 70% of electricity and capacity from Certain Decrees of the Government of the the volumes established by the 2007 budgeted Russian Federation on the Issues of Generating balance sheet, and 45% to 50% of electricity Capacity Competitive Trade on the Wholesale and capacity from July 1 to the end of 2009 Electricity and Capacity Market). were supplied at regulated prices (rates) on the The Company trades electricity and capacity Wholesale Market. 61 on the Wholesale Market using the following Starting on January 1, 2011, electricity and mechanisms: capacity will be supplied on the New Wholesale

Period Year Share of sales for RC, % January 1 — June 30 90—95 2007 July 1 — December 31 85—90 January 1 — June 30 80—85 2008 July 1 — December 31 70—75 January 1 — June 30 65—70 2009 July 1 — December 31 45—50 January 1 — June 30 35—40 2010 July 1 — December 31 15—20 January 1 2011 0

Growth Rates of the Share of Electricity Sold at Non-Regulated Prices in Accordance with the RF Government Resolution dd. November 30, 2006

100% 100%

80% 80%

60% 60% 50% 40% 25% 30% 20% Sales of Electricity and Heat 10% 5% 15%

Jan 1 Jul 1 Jan 1 Jul 1 Jan 1 Jul 1 Jan 1 Jul 1 Jan 1 2007 2008 2009 2010 2011

Share of electricity sold at free prices

ОGК-6 2009 Electricity and Capacity Market at free (non- ATS with determination of hourly equilibrium regulated) prices, with the exception of hub prices and supply (purchase) volumes. supplies to public consumers. The DAM is structured on the following The schedule for registering contracting principles: parties and delivery schedules for regulated • Volumes of electricity which are not part contracts are determined by JSC ATS so of RCs and are the result of short-term that the aggregate cost of base volumes of production and consumption planning are electricity and capacity established by regulated sold. contracts do not exceed the cost of delivery • “Missing” volumes of electricity for RCs and of base volumes established using indicative also volumes of electricity used by suppliers prices (rates) of consumers. in order to fulfill their obligations under 62 The functioning of the RC system is based RCs with the help of other suppliers are on the following provisions: purchased. • Two products, namely electricity and • Volumes of electricity are purchased to capacity, are sold (purchased) according to guarantee supply of electricity under NCECs the regulated contracts entered into. and retail market supply contracts. In • The prices for electricity and capacity under addition to this, electricity which exceeds the each regulated contract are set equal to volumes for consumption is purchased. the contractor’s tariffs for electricity and • Special purpose software calculates the capacity. optimal hourly equilibrium prices (hub • The contractor supplies the contract prices), volumes of production and volume of electricity and capacity which it consumption with consideration of input produced, or (for electricity only) purchased restraints and technological losses. on the market at the Day-Ahead Market • Generators submit hourly bids on a daily competitive prices or through non-regulated basis for all of the installed capacity of bilateral contracts. The purchaser pays for generation equipment used by the System the contract volume regardless of its own Operator in order to participate in the planned consumption. DAM. With regard to electricity volumes • Purchasers and contractors enter into RCs corresponding to the power plant minimum based on the standard form approved by technical requirements, the participants NP Market Council and constituting an submit price-driven bids only. addendum to the agreement on joining the • The system operator plans power modes and wholesale market trading system. operating modes of electricity suppliers and • The final cost of capacity for RCs is purchasers based on the results of the day- calculated with consideration of the ahead competitive bid selection. reduction of cost of capacity caused by • Purchase and sale contracts and the incomplete fulfillment of obligations commissions are settled with the unified for maintaining generating equipment for party — JSC FSC in order to ensure electricity production. electricity purchase and sale on the DAM. Balancing Market (BM) — Electricity trade 4.1.2. On the Non-Regulated Electricity at free (non-regulated) prices determined

Sales of Electricity and Heat Market electricity is traded at free through competitive selection of bids of (unregulated) prices. The non-regulated suppliers and participants with regulated electricity market has several sectors. consumption carried out at least one hour Day-Ahead Market (DAM) — Electricity prior to electricity supply for the purposes of (capacity) trade at free (non-regulated) prices forming a balanced electricity generation and determined through competitive selection consumption mode. of bid prices of purchasers and contractors This is the market on which bids for current carried out twenty-four hours before generation or consumption are traded one commencement of the corresponding supply. hour before actual generation (consumption). The basis of the Day-Ahead Market is the Electricity is traded on the Balancing Market competitive day-ahead bid selection by JSC according to the following principles:

ANNUAL REPORT • The price bids which participants submitted determined by the agreement on joining at the DAM are used in BM trading. the trading system of the Wholesale Market • The differences in actual generation/ in order to take them into account when consumption volumes from those planned as establishing obligations (requirements) for per the results of the DAM trading are tendered. Wholesale Market participants. • Volumes of electricity are offered during • Electricity must be purchased on the DAM trading which are submitted with the help of in order to provide for electricity supply immediate price-driven bids for the change volumes under NCs. to planned volumes of production. The ARENA energy exchange provides • Volumes of electricity on the BM are trading participants with the opportunity to purchased according to the indicators and/or conclude non-regulated bilateral contracts for at upper (lower) balancing prices. supply of electricity (NCE). 63 • Purchase and sale contracts and Exchange traded non-regulated bilateral commissions are settled with the unified electricity purchase and sale contracts are party — JSC FSC in order to ensure entered into by suppliers and buyers when the purchase and sale on the BM. terms and conditions of two opposite orders Non-regulated bilateral contracts (NC) — submitted by Participants at the exchange are electrical power is traded at free (non-regulated) the same. prices on the basis of electricity purchase and At the end of trading in the settlement period sale contracts (hereinafter referred to as non- (month), the exchange trading system draws regulated bilateral contracts). Concluded non- up electricity purchase and sale contracts regulated bilateral electricity purchase and sale where the parties to contracts are disclosed. contracts have the following specific features: • Wholesale Market participants independently 4.1.3. Non-Regulated Capacity Market determine prices and the volume of On July 1, 2008 a transitional capacity market electricity supply under non-regulated was launched in accordance with Russian bilateral electricity purchase and sale Federation Government Decree No. 476 dd. June contracts. 28, 2008. Its main provisions are as follows: • The suppliers and buyers of electricity which • The introduction of the procedure for enter into non-regulated bilateral electricity competitive selection of capacity (CSC). purchase and sale contracts shall pay the • The guarantee of payment for capacity of difference between the equilibrium prices suppliers whose bids were chosen by CSC. in the buyer and seller’s electricity delivery • Liberalization of capacity trade. point groups for each contract in accordance • The possibility to trade capacity at free (non- with the procedure determined by the regulated) prices. agreement on joining the trading system of Competitive selection of capacity (CSC) is the Wholesale Market. capacity traded at free (non-regulated) prices • A supplier which concludes an NC shall determined through competitive selection deliver electricity to the buyer according of bid prices to sell capacity. The Company to the volume and the price stated in the submits bids to sell capacity to participate contract by including all/part of the volume in the competitive selection of capacity with

in hourly planned production and/or buying regard to capacity of the generating equipment Sales of Electricity and Heat electricity on the Wholesale Market. recorded on the budgeted balance sheet for • Every buyer (supplier) is entitled to buy (sell) the corresponding calendar year. The size of electricity under non-regulated bilateral the monthly payment for one unit of capacity electricity purchase and sale contracts specified in the price bid to sell capacity which exclusively from (to) Wholesale Market was submitted with regard to the capacity participants operating in the relevant price of generating equipment recorded on the zone. budgeted balance sheet in 2007 as of January • Non-regulated bilateral contracts and also 1, 2007 cannot exceed the threshold level any amendments to them are registered by which is equal to the regulated price (rate) for JSC ATS in accordance with the procedure capacity established in the reviewed year by the

ОGК-6 2009 Federal Tariff Service of the Russian Federation prices on the basis of electricity and capacity in relation to the generating equipment. purchase and sale contracts. A price bid to sell capacity which was OTC NCEC — a non-regulated purchase submitted with regard to the capacity of and sale contract for electricity and capacity generating equipment commissioned after concluded by a supplier and a buyer — parties 2007 must conform with the requirements for to a regulated contract (RC). The capacity economic feasibility of the size of a monthly volume in the contract shall not exceed the payment for one unit of capacity as determined deregulated part of the corresponding RC, i.e. by the agreement on joining the trading system the difference between the RC capacity volume of the Wholesale Market. before deregulation (100%) and the RC volume The procedure for establishing the after deregulation. Effecting OTC NCECs makes 64 compliance (non-compliance) of a price it possible for suppliers to obtain additional bid to sell capacity with the requirement for profit from the sale of capacity at non- economic feasibility of the size of a monthly regulated prices and also to reduce the risk payment for one unit of capacity and also of failure to pay for a part of capacity by non- the procedure for bringing the bid into line payers in case of this capacity sale in the CSC. with this requirement are specified by the The ARENA energy exchange provides trading agreement on joining the trading system of participants with the opportunity to conclude the Wholesale Market. exchange traded non-regulated bilateral The following parameters are defined based contracts for supply of electricity and capacity on the competitive selection of capacity: (NCEC). When settling an exchange-traded • the list of the Wholesale Market participants NCEC, the price for electricity and capacity supplying capacity in the corresponding depends on the type of the contract settled calendar year; (peak, shoulder, valley) and free flow zone, and • the list of the generating equipment having is determined for each “supplier — purchaser” passed the CSC with the indication of free pair separately through comparison of their bids flow zones; submitted to the commodity exchange. • capacity volumes and free (non-regulated) Exchange traded purchase and sale NCECs prices determined based on the competitive are entered into by suppliers and buyers when selection of bid prices to sell capacity. the terms and conditions of two opposite Purchase and sale contracts and orders submitted by Participants at the commissions are settled with the unified exchange are the same. party — JSC FSC in order to ensure electricity At the end of trading in the settlement period purchase and sale in the CSC. (month), the exchange trading system draws As a result of CSC, every supplier is required up electricity and capacity purchase and sale to maintain its generating equipment in a state contracts where the parties to contracts are of permanent electricity generation readiness. disclosed. To fulfill its obligations regarding the capacity quality the Company entered into agreements for 4.2. System of the Company’s the transfer of capacity by the Wholesale Market Contracts on the Wholesale participants — electricity and capacity suppliers Electricity and Capacity Market

Sales of Electricity and Heat with all the suppliers of the Wholesale Energy In the period from January 1, 2009 to Market and a unified party JSC FSC. December 31, 2009 the Company entered into Non-regulated bilateral contracts on 1,342 regulated contracts for the purchase electricity and capacity (NCEC) — electrical and sale of electricity and capacity with 161 power is traded at free (non-regulated) contracting parties.

ANNUAL REPORT The Largest Contracting Parties The total volume of electricity Contracting party name Share in total RC volume of JSC “OGK-6” sales in 2009 amounted to 1 Mosenergosbyt 14.80% million kWh. 2 Petersburg Sales Company 8.31% 33,998 3 Rusenergosbyt 4.31% 4 Volgogradenergosbyt 3.36% 5 Chelyabenergosbyt 3.31% 6 INTER RAO UES 2.72% 7 Voronezh PSC 2.59% 65 8 Samaraenergo 2.49% 9 Kuzbass Power Sales Company 2.49% 10 Vladimir Power Sales Company 2.43% 11 Vologda Retail Company 2.36% 12 “Independent energy-sale company” 2.17% Total 51.34%

4.3. Electricity Supply The total volume of sales on the retail In 2009 the volume of purchased 4.3.1. Physical Indicators market remained almost at the same level electricity grew by The total volume of electricity sales in 2009 having reduced by 7.5 million kWh (or 0.8%). amounted to 33,998 million kWh, 21% less The largest supplier of electricity for the retail 23% than total volume of electricity sales in 2008. market is Kirishskaya GRES. due to reducing of prices on the DAM. Although the total volume of inhouse electricity In 2009 the volume of purchased electricity sales on the Wholesale Market in 2009 reduced grew by 23% due to reducing of prices on the by 26% versus 2008, the total volume of DAM. purchased electricity sales grew by 4%. Electricity in the segment of non-regulated This could have been caused by lower prices bilateral contracts was purchased by entering for electricity on the non-regulated sectors into exchange traded NCEC on the ARENA of the market compared to established tariffs energy exchange that started operating in under regulated contracts. 2008.

Electricity Sales Breakdown in 2008—2009, million kWh

Plant name Total electricity sales Total electricity purchases Total inhouse electricity sales 2008 2009 change 2008 2009 change 2008 2009 change Ryazanskaya GRES 11,412 8,477 -26% 2,664 1,987 -25% 8,748 6,490 -26% Sales of Electricity and Heat Novocherkasskaya GRES 10,654 8,951 -16% 514 315 -39% 10,140 8,636 -15% Kirishskaya GRES 8,487 7,438 -12% 2,417 2,856 18% 6,070 4,581 -25% Krasnoyarskaya GRES-2 7,201 5,450 -24% 483 938 94% 6,717 4,511 -33% Cherepovetskaya GRES 3,534 2,487 -30% 395 298 -24% 3,140 2,189 -30% GRES-24 1,970 1,195 -39% 289 636 120% 1,681 559 -67% TOTAL 43,259 33,998 -21% 6,763 7,032 4% 36,496 26,966 -26%

ОGК-6 2009 Total inhouse and purchased electricity sales

2008 2009 16% 21% 6,763 million kWh 7,032 million kWh

66 84% 79% 36,496 million kWh 26,966 million kWh

Inhouse electricity sales Purchased electricity sales

Electricity Sales by Sector in 2008—2009 (million kWh) Plant name RC DAM BM NC Wholesale Retail market Total market, total 2008 2009 2008 2009 2008 2009 2008 2009 2008 2009 2008 2009 2008 2009 Ryazanskaya 6,116 4,928 4,786 2,638 508 458 0 450 11,410 8,475 3 3 11,412 8,477 GRES Novocherkasskaya 7,537 6,121 2,888 2,358 230 469 0 3 10,654 8,951 0 0 10,654 8,951 GRES Kirishskaya GRES 5,445 4,515 1,366 1,269 705 439 0 251 7,516 6,474 971 963 8,487 7,438 Krasnoyarskaya 4,247 3,470 2,712 1,776 242 204 0 0 7,201 5,450 0 0 7,201 5,450 GRES-2 Cherepovetskaya 2,084 1,703 1,219 491 230 293 0 0 3,534 2,487 0 0 3,534 2,487 GRES GRES-24 1,238 1,022 667 140 62 31 0 0 1,968 1,193 2 2 1,970 1,195

TOTAL 26,667 21,759 13,638 8,672 1,977 1,894 0 704 42,283 33,029 976 969 43,259 33,998

Electricity sales

2008 2009

32% 26% 13,638 mln. kWh 8,672 mln. kWh Sales of Electricity and Heat

5% 1,977 mln. kWh 6% 1,894 mln. kWh 2% 976 mln. kWh 2% 61% 704 mln. kWh 63% 26,667 mln. kWh 3% 21,759 mln. kWh 969 mln. kWh

RC Day-Ahead Market Balancing Market NC Retail Market

ANNUAL REPORT Electricity Purchase on the Wholesale Market by Sector in 2008—2009 (million kWh)

Plant name DAM BM NC Total

2008 2009 2008 2009 2008 2009 2008 2009

Ryazanskaya GRES 2,017 1,758 648 229 0 0 2,664 1,987

Novocherkasskaya GRES 201 195 314 120 0 0 514 315

Kirishskaya GRES 2,078 2,506 339 131 0 220 2,417 2,856

Krasnoyarskaya GRES-2 247 634 236 305 0 0 483 938

Cherepovetskaya GRES 143 229 252 70 0 0 395 298 67 GRES-24 140 606 149 31 0 0 289 636

TOTAL 4,826 5,927 1,937 885 0 220 6,763 7,032

Electricity Purchase

2008 2009

13% 29% 885 mln. kWh 1,937 mln. kWh 3% 71% 220 mln. kWh 84% 4,826 mln. kWh 5,927 mln. kWh

Day-Ahead market Belateral nonregulated contracts Balancing Market

4.3.2. Prices for Electricity on the Tariffs for Electricity (Capacity) Sold on the Wholesale Market Wholesale Market under Contracts within

Limit (Minimum and Maximum) Volumes of Sales of Electricity and Heat Electricity Tariffs Electricity (Capacity) Sales at Regulated Prices Electricity generation tariffs are established (Tariffs) dd. November 25, 2008. each year by the Federal Tariff Service In 2009 the equilibrium hub price index of Order pursuant to Decree No. 109 On Price “OGK-6” plants in the first price zone was Formation with regard to Electric and Heat generally reduced versus the price index in Power in the Russian Federation by the 2008 on the non-regulated electricity market. Government of the Russian Federation dd. This is due to an essential decrease in power February 26, 2004. consumption in the Russian Federation from Tariffs for 2009 were established by the October 2009 caused by financial recession Federal Tariff Service Order No. 272-э/8 On affecting large-scale industrial customers.

ОGК-6 2009 Electricity Tariffs in 2008—2009, rubles/mWh

Plant name 2008 2009

Ryazanskaya GRES 679.97 837.62

Novocherkasskaya GRES 621.56 818.51

Kirishskaya GRES 822.31 1,048.64

Krasnoyarskaya GRES-2 313.06 432.75

Cherepovetskaya GRES 635.51 778.70 68 GRES-24 621.30 775.94

Dynamics of Electricity Sale Prices in 2008/2009, rubles/Mwh

850

800 Electricity sale price on the market of regulated contracts 750 Electricity sale price 700 on the non-regulated market 650

600

550

500 Quarter I Quarter II Quarter III Quarter IV Quarter I Quarter II Quarter III Quarter IV 2008 2009

Over 2009 there was a slight free market In the second price zone, the free market

Sales of Electricity and Heat prices growth trend conditioned by gradual equilibrium price index was fairly stable with power consumption growth in the Russian fluctuations due to seasonal factors in the Federation and quarterly gas prices growth. Krasnoyarskaya GRES-2 area. It should be noted Compared to 2008, the Wholesale Electricity that the Sayano-Shushenskaya HPP breakdown Market showed lower DAM volatility which on August 17, 2009 did not result in essential resulted from a more even load of plants within price growth on the non-regulated Wholesale peak load periods. Electricity Market despite considerable workload increase for II price zone plants.

ANNUAL REPORT Actual OGK-6 Electricity Sale Prices by Wholesale Market Sector in 2008-2009, rubles/mWh

Plant name Sale price1 RC DAM BM NC 2008 2009 2008 2009 2008 2009 2009 Ryazanskaya GRES 680 838 762 665 782 750 820 Novocherkasskaya GRES 622 819 803 721 712 737 818 Kirishskaya GRES 822 1 049 769 725 935 900 828 Krasnoyarskaya GRES-2 314 433 479 423 418 396 — Cherepovetskaya GRES 636 779 778 746 662 724 — 69 GRES-24 621 776 784 667 700 653 — TOTAL 628.0 804.0 717.9 644.0 767.5 737.8 822.7

Actual OGK-6 Electricity Purchase Prices by Wholesale Market Sector in 2008-2009, rubles/mWh

Plant name DAM BM 2008 2009 2008 2009 Ryazanskaya GRES 670 646 552 611 Novocherkasskaya GRES 632 631 458 739 Kirishskaya GRES 666 645 745 832 Krasnoyarskaya GRES-2 451 363 845 461 Cherepovetskaya GRES 669 585 628 663 GRES-24 582 690 326 446 TOTAL 652.5 617.1 598.5 607.8

Actual OGK-6 Average Electricity Sale Prices

Plant name Actual average price on the overall Actual average price wholesale market considering capacity 2008 2009 2008 2009 Ryazanskaya GRES 743 820 1,041 1,299 Novocherkasskaya GRES 680 793 944 1,152 Kirishskaya GRES 893 1,204 1,235 1,777 Krasnoyarskaya GRES-2 361 435 608 865 Cherepovetskaya GRES 692 788 995 1,293 Sales of Electricity and Heat GRES-24 719 854 1,059 2,041 TOTAL 668.5 795.5 956.1 1,256.5

1 The prices are weighted average sale (purchase) prices of electricity calculated as sale (purchase) value of electricity (capacity) divided by the corresponding volumes. Actual value is indicated, i.e. it includes both immediate sale (purchase) value of electricity (capacity) according to competitive bidding results and value adjustment. The value on the DAM is adjusted out in accordance with Clause 80 of Decree No. 529 of the Russian Federation Government On Improvement of the Procedure for Wholesale Electricity (Capacity) Market. The value adjustment on BM is carried out in accordance with Clause 9.1 of the Regulations for Determination of Volumes, Initiatives and Value of Deviations.

ОGК-6 2009 4.3.3. Electricity Sales Price Indicators Since July 1, 2008 the Company has been In 2009 we sold In 2009 there was a 4% growth in the share of participating in competitive selection of MW, electricity sales under regulated contracts in capacity in accordance with Russian Federation connection with JSC “OGK-6” output decrease Government Decree No. 476 dd. June 28, 2008. 9,093 due to a price indicator drop on the non-regulated In 2009 JSC “OGK-6” sold nearly 33% of electricity market and essential growth of tariffs capacity on the non-regulated market. Capacity or 0.6 % more than in 2008. under regulated contracts established by the traded on a competitive basis shall be paid to Federal Tariff Service of the Russian Federation. the supplier at a price indicated in the order considering the seasonality coefficient. 4.4. Capacity Sales Free capacity volume was sold under 4.4.1. Capacity Sales: Quantitative non-regulated bilateral contracts for 70 Indicators electricity and capacity supply (NCECs): Capacity of JSC “OGK-6” shall be paid monthly OTC and Arena exchange contracts. In 2009 on the basis of availability of generating the following branches of JSC “OGK-6” equipment. The installed capacity of JSC concluded capacity supply agreements: “OGK-6” is 9,052 MW. In 2009 we sold 9,093 Kirishskaya GRES, Ryazanskaya GRES and MW, or 0.6 % more than in 2008. Novocherkasskaya GRES.

Revenue from Electricity Sales in 2008—2009, million rubles (excluding VAT)

Plant name RC DAM BM NCEC Wholesale Retail market Total market, total

2008 2009 2008 2009 2008 2009 2008 2009 2008 2009 2008 2009 2008 2009

Ryazanskaya GRES 4,159 4,128 3,649 1,754 398 344 0 369 8,205 6,594 2 3 8,207 6,597

Novocherkasskaya 4,684 5,010 2,320 1,700 164 346 0 2 7,168 7,058 0 0 7,168 7,058 GRES

Kirishskaya GRES 4,477 4,735 1,050 921 659 395 0 208 6,186 6,258 969 1,330 7,155 7,588

Krasnoyarskaya 1,332 1,502 1,300 751 101 81 0 0 2,733 2,334 0 0 2,733 2,334 GRES-2

Cherepovetskaya GRES 1,325 1,326 949 366 153 212 0 0 2,426 1,904 0 0,6 2,426 1,905

GRES-24 769 793 523 93 44 20 0 0 1,336 907 4 5 1,340 911

TOTAL for OGK-6 16,746 17,494 9,791 5,585 1,518 1,397 0 579 28,055 25,055 974 1,338 29,029 26,392

Capacity Sales by Capacity Market Sector in 2008—2009, MW per Month.

Plant name RC CSC NCEC Retail market Total

2008 2009 2008 2009 2008 2009 2008 2009 2008 2009

Sales of Electricity and Heat Ryazanskaya GRES 2,352 1,766 135 110 130 759 2,618 2,635

Novocherkasskaya GRES 1,876 1,350 209 676 0 73 2,085 2,099

Kirishskaya GRES 1,849 1,400 175 82 45 595 120 118 2,188 2,195

Krasnoyarskaya GRES-2 1,086 837 129 391 0 0 1,216 1,228

Cherepovetskaya GRES 561 433 62 194 0 0 623 627

GRES-24 278 214 29 94 0 0 307 308

TOTAL 8,002 6,001 739 1,548 175 1,426 120 118 9,037 9,093

ANNUAL REPORT Capacity Purchase by Capacity Market Sector in 2008—2009, MW

Plant name NCEC CSC Total 2008 2009 2008 2009 2008 2009 Ryazanskaya GRES 0 0 3 0 3 0 Novocherkasskaya GRES 0 0 9 6 9 6 Kirishskaya GRES 0 100 185 94 185 195 Krasnoyarskaya GRES-2 0 0 10 3 10 3 Cherepovetskaya GRES 0 0 6 1 6 1 GRES-24 0 0 1 0 1 0 TOTAL 0 100 215 105 215 205 71

4.4.2. Capacity Sale Prices Capacity order price for CSC included in In 2009 there was a Tariffs for 2009 were established by the Federal the balance of the Federal Tariff Service of the increase in capacity Tariff Service Order No 272-э/8 On Tariffs for Russian Federation in 2007 shall not exceed the Electricity (Capacity) Sold on the Wholesale tariff established by the Federal Tariff Service. 23% Market under Contracts within Limit (Minimum sale share accounted for by CSC and and Maximum) Volumes of Electricity 4.4.3. Capacity Sales: Price Indicators NCEC. (Capacity) Sales at Regulated Prices (Tariffs) In 2009 there was a 23% increase in capacity dd. November 25, 2008. sale share accounted for by CSC and NCEC.

Dynamics of Changes to Electricity and Capacity Tariffs1 in 2008—2009, rubles/MW per month

Plant name 2008 2009 average January-June July-December Ryazanskaya GRES 83,088.41 78,136.44 88,040.38 95,791.37 Novocherkasskaya GRES 108,559.17 102,089.17 115,029.17 125,069.41 Kirishskaya GRES 81,235.10 76,393.58 86,076.62 93,705.81

Krasnoyarskaya GRES-2 116,681.09 109,727.03 123,635.15 136,148.13

Cherepovetskaya GRES 129,681.72 121,952.84 137,410.60 149,208.69 GRES-24 156,930.34 147,577.47 166,283.20 180,471.74

Revenue from Capacity Sales in 2008—2009, Million Rubles (excluding VAT) Plant name RC CSC NCEC Wholesale Retail market TOTAL market, TOTAL 2008 2009 2008 2009 2008 2009 2008 2009 2008 2009 2008 2009 Ryazanskaya GRES 2,308 1,995 128 133 172 979 2,607 3,107 2,609 3,107

Novocherkasskaya GRES 2,409 2,000 283 980 0 131 2,691 3,111 2,692 3,111 Sales of Electricity and Heat Kirishskaya GRES 1,773 1,546 171 109 64 737 2,008 2,392 330 490 2,339 2,882 Krasnoyarskaya GRES-2 1,486 1,330 189 612 0 0 1,675 1,943 1,675 1,943 Cherepovetskaya GRES 861 767 101 342 0 0 962 1,109 962 1,109 GRES-24 516 459 57 202 0 0 573 661 573 661 TOTAL 9,354 8,098 930 2,377 236 1,847 10,516 12,322 330 490 10,850 12,812

1 From July 1, 2008 capacity tariffs are set for available capacity (installed capacity minus restrictions) according to the balance of the Federal Tariff Service. In 2009 available capacity of Krasnoyarskaya GRES-2 amounted to 1,233 MW, Kirishskaya GRES — 2,084 MW, in other plants it was equal to installed capacity.

ОGК-6 2009 Actual Capacity Purchase Cost in 2008—2009, Million Rubles (excluding VAT)

Plant name NCEC CSC Total 2008 2009 2008 2009 2008 2009 Ryazanskaya GRES 0 0 5 0 5 0 Novocherkasskaya GRES 0 0 13 12 13 12 Kirishskaya GRES 0 135 263 182 263 318 Krasnoyarskaya GRES-2 0 0 13 4 13 4 Cherepovetskaya GRES 0 0 9 2 9 2 GRES-24 0 0 1 0 1 0 72 TOTAL 0 135 305 201 305 337

In accordance with Decree of the and water supply systems through municipal Government of the Russian Federation housing and public utilities infrastructure. No. 205 dd. April 7, 2007 the liberalization share in the first half of the year was 30%, Krasnoyarskaya GRES-2 and 50% in the second half. In 2008, Krasnoyarskaya GRES-2 supplies and capacity was only sold under CSC and NCEC sells heat to industrial enterprises of the in the second half of the year. city as well as heat energy and hot water to a municipal enterprise (Teplovye Seti 4.5. Heat Supply Municipal Unitary Enterprise) which is a The main activity of branches on the heat wholesale buyer and resells heat to municipal market is heat supply to industrial enterprises housing and public utilities enterprises of and housing and public utilities structures. Zelenogorsk. Zelenogorsk municipal industrial Heat is sold by branches under three types infrastructure consumes virtually no heat of contracts: energy of the GRES therefore Teplovye Seti • hot water supply for heating support; is the major consumer on the retail market. It • hot water supply for domestic needs; accounts for 99% of consumption. • heat power supply in the form of steam for enterprise process needs. Novocherkasskaya GRES In 2009 JSC “OGK-6” branches supplied Novocherkasskaya GRES is the major 4,170 thousand Gcal of heat under heat supply enterprise of Donskoi settlement. Large- contracts. All contractual obligations were scale consumers of heat energy generated by fulfilled in compliance with the terms and GRES are Zhilremont-7 LLC, condominium conditions of contracts without failures in partnerships and individual entrepreneurs. The supply schedules and heat carrier temperature. heat supply retail market has not developed as Novocherkassk is 20 km away from Donskoi

Sales of Electricity and Heat Kirishskaya GRES settlement. Kirishskaya GRES accounts for more than 60% to the total volume produced by JSC “OGK-6” Ryazanskaya GRES plants. This is conditioned by the developed Ryazanskaya GRES is the major enterprise industrial infrastructure of Kirishi, in particular, of Novomichurinsk. Ryazanskaya GRES industrial, construction and agricultural supplies and sells heat energy to industrial enterprises in Kirishi which are supplied with enterprises and heat energy and hot water to heat energy and water from Kirishskaya GRES Novomichurinskoe Municipal Housing and under direct agreements. Besides, the plant Public Utilities Enterprise (Novomichurinskoe provides the town with hot water for heating Utilities) which is a wholesale buyer and

ANNUAL REPORT reseller to residents living in private houses. Municipal Unitary Enterprise (Kadui Utilities), The main heating system that has been which is responsible for heat energy supply transferred from the Novomichurinskoe Utilities via the utilities infrastructure. Agreements is on the balance of Ryazanskaya GRES. with individuals are concluded on the basis of a trilateral agreement between the settlement Cherepovetskaya GRES administration, GRES and Kadui Utilities. Cherepovetskaya GRES is the major enterprise According to this agreement the plant shall of Kadui settlement. Cherepovetskaya GRES maintain heat supply contracts with individuals sells heat energy and hot water to Kadui and collect payment. Besides this, the plant shall industrial enterprises as well as heat energy and render drinking water supply and waste water hot water to the settlement inhabitants through treatment services to industrial enterprises of the Kadui settlement Housing and Public Utilities settlement and Kadui Utilities. 73

Productive Heat Supply and Breakdown by Consumer in 2007—2008, thousand Gcal

Plant name 2008 2009

Heat Housing Industrial Other Heat Housing Industrial Other supplied, and public enterprises consumers supplied, and public enterprises consumers Gcal/year utilities share (%) share (%) Gcal/year utilities share (%) share (%) share (%) share (%)

Ryazanskaya GRES 186.0 83.06 — 16.94 181.8 81.24 — 18.76

Novocherkasskaya GRES 93.6 91.88 6.83 1.29 56.3 73.69 10.79 15.52

Kirishskaya GRES 2,632.5 20.02 76.99 2.99 2,605.7 19.81 78.86 1.33

Krasnoyarskaya GRES-2 1,156.3 — 0.43 99.57 1,234.3 — 0.13 99.87

Cherepovetskaya GRES 97.1 27.78 3.04 69.18 92.1 23.09 2.16 74.75

TOTAL 4,165.5 47.84 49.0 3.16 4,170.2 17.42 49.45 33.13

Total Productive Heat Supply by Power Plants in 2008—2009, Gcal

2008 2009

2% 1% 4% 4%

2% 1% Sales of Electricity and Heat

28% 30% 64% 64%

Ryazanskaya GRES Krasnoyarskaya GRES-2 Novocherkasskaya GRES Cherepovetskaya GRES Kirishskaya GRES

ОGК-6 2009 Dynamics of Changes in Heat Tariffs in 2008—2009, rubles/Gcal (excluding VAT)

Plant name 20081 20091

Ryazanskaya GRES 424.24 430.17

Novocherkasskaya GRES 678.69 1,238.36

Kirishskaya GRES 560.84 600.62

Krasnoyarskaya GRES-2 315.31 347.99

Cherepovetskaya GRES 519.87 568.74

Total for OGK-6 488.60 531.40 74

Total Revenue from Heat Sale in 2008—2009, million rubles (excluding VAT)

Plant name 2008 2009 Ryazanskaya GRES 78.25 106.21 Novocherkasskaya GRES 61.11 71.27 Kirishskaya GRES 1,487.15 1,563.56 Krasnoyarskaya GRES-2 363.24 429.52 Cherepovetskaya GRES 46.89 52.45 Total for OGK-6 2,036.64 2,223.01

4.6. Electricity, Capacity and Heat greater its share in the revenue structure is, Sales Revenue Structure since the payment for capacity is more or less The majority of JSC “OGK-6’s” revenue stable. comes from electricity (63%) and capacity Revenue from heat sales amounts to 5% of sale (31%). The more electricity is sold, the revenue.

2008 2009 1% 39% 1% 1% 1% 43% 5% 5% 1% 4% 2% 6% Sales of Electricity and Heat 22% 13% 23% 20% 2% 3% 4% 3% 1%

RC for electricity Electricity retail market Capacity retail market DAM RC for capacity Heat sales BM CCM Other NCEC for electricity NCEC for capacity

1 Actual average rates.

ANNUAL REPORT Electricity and Capacity Sales Revenue on Wholesale Market in 2008—2009

2008 2009 28% 26% 4% 5% 8% 9%

11% 11% 28% 75 26% 21% 23%

Ryazanskaya GRES Krasnoyarskaya GRES-2 Novocherkasskaya GRES Cherepovetskaya GRES Kirishskaya GRES GRES-24 Sales of Electricity and Heat

ОGК-6 2009 the power of creativity 5 Investment Activities

5.1. Large-Scale Investment Projects 5.2. Modernization of the Existing Industrial Facilities 5.3. The Results of Investment Activity in 2009

Truly great plans are not bound by the limits of standards and rules. They create their own new rules. 5

Investment Activities

JSC “OGK-6” carries out investment activity belongs to the Central Unified Power System Large-scale investment projects along the following lines: (UPS Center). 24,308.2 mln • implementation of large-scale investment Implementation of this project will make 21,536.5 mln projects; Ryazanskaya GRES more competitive on the • updating the existing industrial facilities. electricity and capacity market, increase the 19,012.0 mln Company’s profit due to more efficient operation 5.1. Large-scale Investment and generation of electricity and meet the UPS Projects Center’s growing demand for electricity. The project includes adding a gas turbine with JSC “OGK-6” is currently implementing four a capacity of 110MW to the existing 310MW large-scale investment projects. unit according to the afterburning scheme. The 4,189.0 mln existing boiler P-74 was originally designed Addition of a Gas Turbine to Steam Turbine for work with a MHD (magnetohydrodynamic) Plant, GRES-24, Unit No. 1 (CCGT Unit-420) generator and is ideal for operating as part of a At present, GRES-24 which is included in combined cycle gas turbine unit according to the GRES-24 KiGRES NchGRES ChGRES Project Project Project Project Ryazanskaya GRES as Unit No. 7 consists of afterburning scheme. Figure 1 shows a schematic diagram of one combined cycle gas turbine unit with a Planned contracts capacity of 310MW. This generating facility CCGT Unit-420. The air and gas mixture is fed Remainder to be paid for concluded contracts Financed Large-scale Investment Projects Project Period of Increase Expected Concluded Drawn on Financed as Financed implemen- of capacity project cost contracts project of December in 2009 tation (mW) (million cost (reported) 31, 2009 (million rubles, (million (million (million rubles, including rubles, rubles, rubles, including VAT) including including including VAT) VAT) VAT) VAT) “Addition of a gas turbine to steam turbine 2nd quarter 110 4,189.0 4,153.5 3,223.4 3,678.1 1,675.0 Investment Activities plant, GRES-24, Unit No. 1” (CCGT Unit-420) 2010 “Modernization of the condensing section of 4th quarter 540 19,012.0 16,674.6 7,861.8 10,887.6 5,698.7 Kirishskaya GRES on the basis of combined 2011 cycle technology”, unit No. 6 (CCGT Unit-800) “Construction of Novocherkasskaya GRES 4th quarter 330 24,308.2 11,063.1 2,180.5 5,101.3 1,492.4 Power Unit No. 9 using circulating fluidized bed 2014 technology”, Unit No. 9 (330 MW) “Construction of the second phase of 4th quarter 330 21,536.5 20,830.4 372.8 2,161.9 509.5 Cherepovetskaya GRES with separation of the 2014 first startup facility” — Unit No. 4 (330 MW) (project may be amended) Total for the investment project 1,270 69,045.7 52,721.7 13,638.5 21,828.8 9,375.6

ANNUAL REPORT Fig. 1

am Jet ste Gas s gase rting Depa

Air Steam boiler

Generator Gas Air turbine compressor Generator

Steam turbine 79

GTU-110

Added part i

D Condenser Feed water

Smokestack

Existing part

Key Technical and Economic Performance Indicators of the Project

Aspect Project indicators per year

Number of hours of the installed capacity use (h) 5,500

Installed electric capacity (MW) 420

Production of electricity (mln. kWh) 2,310

Consumption for own needs (%) 4.01

Productive electricity supply (mln. kWh) 2,217.3

Specific consumption of equivalent fuel for supplied electricity generation (g/kWh) 279.5

into the combustion chamber (CC) of the gas directed to 500 kV Ryazanskaya GRES busbars turbine installation, the combustion products through the existing flexible connection (VL-

perform their work in the gas turbine and upon 500kV) of the GRES-24 power unit. Investment Activities completion are discharged in the boiler. Inside Specific consumption of equivalent fuel the boiler, the heat of the departing GTU gases by the modernized power unit will amount is used for generation of steam which is fed to to 279.5 g/kWh and the performance factor the steam turbine. (PF) will reach 44.0%. In 2009 the specific The project includes a range of works aimed consumption of equivalent fuel by the power at installation of a gas-turbine unit (GTU- unit was 355g/kWh and the PF was 36.7%. 110), reconstruction of the bottom part of the In June 2007, the Company entered into an existing P-74 boiler, construction of a booster agreement with JSC UES Engineering Center, compressor plant with gas pipelines. The output namely its branch Teploelektroproekt Institute, of the gas-turbine unit (GTU-110) shall be on developing design estimates.

ОGК-6 2009 In April 2007, the Company entered into an and gas turbine operating platforms, industrial agreement with JSC NPO Saturn on delivering a pipelines and gas pipelines is being finalized. gas-turbine unit (GTU-110). Heat insulation work is being conducted. In December 2007, the Company entered Work on building walls of the booster into an agreement with JSC UES Engineering compressor plant has been completed and on- Center on carrying out the functions of a site roads have been built. construction manager. The main power motor (3,150 kW) has been In August 2008, the Company entered into delivered to the construction site of the booster an agreement with PJSC “EMAlliance” on compressor plant and gas treatment unit. delivering equipment for reconstructing the Due to alterations in GTE-110 No. 5 boiler P-74. equipment delivery dates, in February to 80 In March 2008, the Company entered into an September 2009, JSC “OGK-6” pursuant agreement with JSC PF “VIS” on carrying out to the agreement with JSC NPO Saturn assembly and installation work for construction of received approval to extend the equipment buildings and structures according to the design. commissioning term according to the design In January 2009, the Company entered into from the fourth quarter of 2009 to June 1, 2010. an agreement with JSC Elektrotsentrmontazh on installing electrical equipment according to Modernization of the Condensing Section the design. of Kirishskaya GRES on the Basis of In February 2009, the Company entered into Combined Cycle Technology, Unit No. 6 an agreement with JSC Sphera on installing (CCGT Unit — 800) heat engineering equipment according to the The investment project of modernization of the design. plant’s power unit six was developed in order to In February 2009, the Company entered into increase Kirishskaya GRES’s competitiveness, an agreement with LLC Prombezopasnost on raise the technological process efficiency providing phased expert review of the design as well as to meet the peak demand and documentation. forecasted deficit of electricity in the region. In March 2009, the Company Conversion of power unit six from an ordinary entered into an agreement with LLC steam-power cycle into a combined cycle plant Gazenergopromengeneering on carrying out will significantly increase the performance commissioning work according to the design. indicators of the plant and its competitiveness In April 2009, the Company enter into by reducing SCEF (specific consumption of an agreement with JSC Ivelektronaladka on equivalent fuel) and also will prolong the service supplying and installing control and measuring life of the modernized equipment. instruments and apparatus according to the The project is aimed at adding two gas design. turbines with a capacity of 279MW each and Design documentation has been fully two drum heat-recovery boilers to the existing developed. steam turbine of power unit six. A GTU-110 automatic control system and a The existing steam turbine of power unit gas-turbine engine-110 have been delivered to six shall be modified with consideration for the construction site. its future use as part of a combined cycle gas

Investment Activities Boiler modernization equipment has been turbine unit (CCGTU). Operating as part of the supplied. CCGTU, the steam turbine will have an installed Automatic process control system equipment capacity of up to 260MW. of the power unit has been manufactured and Figure 2 shows a schematic diagram of a supplied in full. CCGTU-800. The air-gas mixture is fed into A TTK-110 generator has been installed, and the combustion chamber (CC) of the gas work on installation of air inlet path, bottom turbine installation, the combustion products burners, boiler diffuser frame, air chutes of gas perform their work in the gas turbine and upon turbine protection system has been completed. completion are discharged into the heat- Work on installation of auxiliary equipment recovery boilers. Inside the heat-recovery

ANNUAL REPORT Fig. 2

Smokestack

Steam

Gas

Combustion chamber Air Heat-recovery boiler Gas Air 81 turbine Generator compressor Generator Steam turbine with reduced consumption rates ases GTU*-270 Departing g Gas

Combustion Air chamber

Generator Air Gas Heat-recovery compressor turbine boiler Condenser

GTU*-270 Departing gases Feed water

Added part Existing part

boiler, the heat of the departing GTU gases is In June 2007, the Company entered into an used for generation of steam which is fed to the agreement with JSC SevZap NTC on developing steam turbine. design estimates. The modernized unit is expected to be In July 2007, the Company entered into commissioned in 2010. an agreement with PJSC “EMAlliance” on The specific consumption of equivalent fuel by delivering two heat-recovery boilers. The the modernized power unit will be 221.5 g/kWh equipment will be delivered during 2009. and the performance factor (PF) will reach 55.5%. In September 2007, the Company entered In 2009, the specific consumption of equivalent into an agreement with JSC “Power Machines” fuel by the power unit was 351 g/kWh and the PF on delivering two SGT5-PAC4000F gas-turbine was 35%. generating units with a capacity of 279MW The existing infrastructure of Kirishskaya each (manufactured by Siemens). GRES will be used in the course of In March 2008, the Company concluded a implementing the project to the fullest possible general contract with LLC PC “VIS” on carrying

extent i.e. the project will be implemented out a range of assembly and installation work Investment Activities on the plant’s site, part of the existing power plus commissioning works. equipment (steam turbine No. 6) and the Currently, working documentation for this existing water supply system will be used. project is being sent to production, primary A scheme of power distribution is being equipment supply has been finished and it developed which includes enhancing of the is currently being installed. Work on main outdoor switchgear (OSG). building construction is being completed, Figure 3 shows a schematic plan of construction works to enhance OSG-330kV are Kirishskaya GRES, the new addition to the being carried out, on-site engineering networks main building where the gas-turbine and boiler are being constructed and auxiliary equipment equipment will be installed is circled. is being supplied.

ОGК-6 2009 Fig. 3

The addition to the main building with Part of CHPP GTU and HRB facilities

Part of KPP 82 Head race

OSG-330

Waste ditch

New gas pipeline

Key Technical and Economic Performance Indicators of the Project

Aspect Project indicators per year Number of hours of the installed capacity use (h) 5,625 Installed electric capacity (MW) 800 Production of electricity (mln. kWh) 4,500 Consumption for own needs (%) 2.08 Productive electricity supply (mln. kWh) 4,406.3 Specific consumption of equivalent fuel for supplied electricity generation (g/kWh) 221.5

Construction of Energy Unit No. 9 of The project of modernizing

Investment Activities Novocherkasskaya GRES using the CFB Novocherkasskaya GRES includes construction Technology (330MW) of a new power unit with a capacity of 330MW Implementation of the project will strengthen and installation of a circulating fluidized bed competitiveness of Novocherkasskaya GRES boiler (CFB) on the unoccupied site of the on the electricity and capacity market, increase plant’s territory. It will be the first power unit the Company’s profit through raising the level with CFB made in Russia which is an optimal of its operational efficiency and intensifying solution from the viewpoint of the current generation of electricity as well as make environmental regulations and which meets reconstruction of the existing primary power the requirements of the current European equipment possible. standards on hazardous emissions.

ANNUAL REPORT Figure 4 shows the schematic diagram of the with the unburned fuel particles are carried power unit. away from the bed along with the departing Figure 5 shows the schematic diagram of gas. The largest of the carried away particles a boiler with CFB. The circulating fluidized are separated by a cyclone and return to the bed boiler functions as follows: The material fluidized bed resulting in the most complete of the bed is brought to the suspension state fuel consumption. The velocity of the air is (so called “fluidized bed”) by blowing the air approximately 5 m/s. Usually combustion takes through the substance of the bed placed on a place at a temperature of 850°С — 900°С. lattice/air distributor. At high air speeds the bed Specific equivalent fuel consumption of expands and some particles of the bed along the power unit will be 329.11 g/kWh and the

83 Fig.4

Steam Smokestack

g gases Departin

Generator Circulating Steam fluidized turbine bed boiler

Fuel + Air

Condenser

Feed water

Fig. 5

Combustion gas

Steam output o n e s t l e Cyclone

nput Investment Activities m ater i u e w i Feed F L Furnace electronic filter Fuel

Volati Bot le ash tom ash Smoke exhaust Circulating fluidized air Secondary air ventilator To ash bins Primary air ventilator

ОGК-6 2009 performance factor (PF) will be 39.9%. In voltage lines and a new outdoor switchgear 2009 specific equivalent fuel consumption of box (OSG — 330kV) will be installed. The Novocherkasskaya GRES was 372 g/kWh and project provides for using the existing water PF was 33.1%. supply system with installation of two three- The primary and auxiliary equipment of sectional water cooling towers. Other common the new unit and the electric device unit are equipment will be used as well. housed in a separate building adjoining the Figure 6 shows the newly erected section of main building. the main building and water towers as well as Part of the existing plant infrastructure will be construction of the fuel feed tunnel. used in implementing the investment project, In September 2007, the Company entered i.e. the existing coal storehouse will be enlarged into an agreement with PJSC “EMAlliance” on 84 by 400,000 tons and it will be used both for the delivering a CFB boiler (produced together with existing equipment and for the new equipment. Foster Wheeler Energia, Finland). Moreover, a new fuel feed tunnel is planned In March 2008, the Company entered into an for the new unit and an additional car dumper agreement with JSC South Energy Engineering will be installed. Power output of the new Center, namely its branch Rostovteploelektroproect, unit will take place via the existing 330kV on developing design estimates.

Fig. 6

Constructing water towers

Enlarging the coal storehouse Enlarging the main building toward north-east behind axis “38”

Construction of a new fuel feed tunnel

Key Technical and Economic Performance Indicators of the Project Investment Activities Aspect Project indicators per year Number of hours of the installed capacity use (h) 6,500 Installed electric capacity (MW) 330 Production of electricity (million kWh) 2,145 Consumption for own needs (%) 7.6 Productive electricity supply (million kWh) 1,981.3 Specific consumption of the equivalent fuel for generated electricity (g/kWh) 329.1

ANNUAL REPORT In April 2008, the Company entered into an It is planned that Cherepovetskaya GRES will agreement on the delivery of a steam turbine be enlarged by constructing on a site which is (produced by JSC Turboatom, Kharkov) and a free from any capital development and belongs generator (produced by JSC Electrotyazhmash, to a power plant in the settlement of Kadui in Kharkov). the Vologda Region which is 40 kilometers A feasibility report has been drawn up, a away from the city of Cherepovets. This city is positive expert opinion has been obtained a large industrial center and the main consumer from Glavgosexpertiza. A construction permit of electricity generated by the GRES. has been granted, and design estimates are Figure 7 shows a schematic diagram of the being developed. The Company has concluded power unit. agreements and primary equipment is being Specific equivalent fuel consumed by the supplied. Preparatory work on removing power unit will amount to 332.4 g/kWh and 85 facilities and buildings from the construction the performance factor (PF) will be 37.0%. In site has been completed. 2009 specific equivalent fuel consumption of Cherepovetskaya GRES was 381 g/kWh and PF Construction of phase 2 of Cherepovetskaya was 32.3%. GRES with separation of the First Start-up The primary and auxiliary equipment of Facility — Unit No.4 (330MW) power unit No. 4 will be placed in the main The investment project includes construction of building which is currently under construction. the fourth power unit of Cherepovetskaya GRES It is planned that a new fuel feed tunnel and creating a new infrastructure for the plant will be built, a water treatment system made which will make further enlargement of the on the basis of membrane technologies will generating facilities possible in the future. include an in-plant recirculation system and Cherepovetskaya GRES is planned to be water towers. enlarged by construction of a 330MW power In the part of the GRES which will be enlarged unit which will use coal as fuel. it is planned to install a dry ash removal system

Fig. 7

Steam Smokestack

g gases Departin

Generator

Steam Investment Activities Steam boiler turbine

Fuel + Air

Condenser

Feed water

ОGК-6 2009 to capture fly and bottom ash formed in the The Company entered into an EPC-contract course of coal combustion in the boilers. and contract for supply of a steam turbine In July 2008, the Company entered into with a generator. The approved part of the an agreement with LLC Production Company project documentation (feasibility report) has “VIS” on the construction of power unit been prepared and materials have been sent to No. 4 with a capacity of 330MW turnkey (EPC- Glavgosexpertiza. contract). In September 2008, the Company entered 5.2. Technical Reequipping and into an agreement with JSC “Power Machines” Modernization of the Existing on the delivery of a steam turbine (produced by Industrial Facilities According to the JSC “OGK-6” JSC “Power Machines” branch Leningrad Metal According to the JSC “OGK-6” investment investment program plan for 2009 86 Works (LMZ) and a turbogenerator (produced program plan for 2009 the Company was the Company was expected to use by JSC “Power Machines” branch Electrosila expected to use capital investments for medium- capital investments for medium- and Plant). and small-scale projects in the amount of small-scale projects in the amount of Under the EPC-contract the Company 1,839,207.1 thousand rubles (excluding VAT). entered into an agreement with PJSC In 2009, acceptance reports were signed for “EMAlliance” on the delivery of a boiler and 1,986,205.4 thousand rubles or 108%. 1,839,207.1 with the general designer JSC SevZap NTC on All the main works planned for 2009 on thousand rubles (excluding VAT). developing design estimates. technical reequipment and main equipment

Key Technical and Economic Performance Indicators of the Project

Aspect Project indicators per year Number of hours of the installed capacity use (h) 6,500 Installed electric capacity (MW) 330 Production of electricity by (mln. kWh) 2,145 Consumption for own needs (%) 7.1 Productive electricity supply (mln. kWh) 1992.7 Specific consumption of equivalent fuel for supplied electricity generation (g/kWh) 332.4

Fulfilling the Program for Technical Reequipping and Modernization of the Existing Industrial Facilities of JSC “OGK-6” in 2008—2009, thousand rubles

Name of JSC “OGK-6” branch 2008 2009 implemented, excluding VAT implemented, excluding VAT Financed, including VAT Investment Activities JSC “OGK-6” total including: 2,892,381.2 1,986,205.4 1,950,313.2 Ryazanskaya GRES (without unit No. 7) 661,765.4 235,894.2 282,995.1 GRES-24 (Ryazanskaya GRES unit No. 7) 32,300.9 404,653.8 161,625.4 Krasnoyarskaya GRES-2 215,195.6 169,822.1 177,099.9 Kirishskaya GRES 911,739.4 663,351.2 665,560.8 Novocherkasskaya GRES 862,207.0 364,286.0 485,259.1 Cherepovetskaya GRES 153,170.1 78,609.0 95,058.9 Branch in Moscow 56,002.7 69,589.1 82,714.0

ANNUAL REPORT reconstruction have been completed. The quality of electricity supplied as well as overall implementation level at JSC “OGK-6” provided for competitiveness of the Company was 108%. Activities held enabled the on a liberalized electricity market. generating equipment to be replaced by more modern and cost-efficient equipment, 5.3. The Results of Investment increased the performance reliability and Activity in 2009

Volumes of Investments and New Fixed Assets by “OGK-6” Branch in 2009, thousand rubles

Name of the branch Volume of New fixed assets2 Financed investments1 (excluding VAT) (including VAT) (excluding VAT) 87 Total: 13,168,881.0 2,861,780.7 11,325,943.1 Ryazanskaya GRES (without unit No. 7) 235,894.2 281,887.0 282,995.1 GRES-24 (unit No. 7 of Ryazanskaya GRES) 2,796,612.1 68,990.7 1,836,604.6 Novocherkasskaya GRES 2,211,372.8 1,140,538.0 1,977,701.4, Kirishskaya GRES 7,589,221.8 995,877.3 6,364,224.4 Krasnoyarskaya GRES-2 169,822.1 200,481.3 177,099.9 Cherepovetskaya GRES 96,368.9 92,297.3 604,603.7 Branch in Moscow 69,589.1 81,709.1 82,714.0 including large-scale projects: 11,182,675.6 19,641.2 9,375,629.9 “Addition of a 310 MW Gas Turbine to Steam Turbine Plant, GRES-24, Unit 2,391,958.3 0 1,674,979.2 No. 1” (CCGT Unit-420)” “Modernization of the Condensing Section of Kirishskaya GRES on the Basis of 6,925,870.6 18,672.2 5,698,663.5 Combined Cycle Technology”, unit No. 6 (CCGT Unit-800) “Construction of Novocherkasskaya GRES Power Unit No. 9 using Circulating 1,847,086.8 969.0 1,492,442.4 Fluidized Bed Technology”, Unit No. 9 (330 MW) “Construction of the phase 2 of Cherepovetskaya GRES with Separation of the 17,759.9 0 509,544.8 first Start-up Facility — Unit No. 4” (330 MW) Investment Activities

1 Data on the amount of work accepted in 2009. 2 Data on new fixed assets for 2009 with consideration of properties for which construction began in earlier periods.

ОGК-6 2009 the power of growth 6 Securities and Charter Capital

6.1. Structure of the Company’s Charter Capital 6.2. Changes in the Structure of the Company’s Share Capital in 2009 6.3. Information on Securities 6.4. JSC “OGK-6” Security Trading Results in 2009

The greatest reward for a human being is to witness the fruits of his labour spring up into something for future generations. 6

Securities and Charter Capital

6.1. Structure of the Company’s Limited Liability Company “Invest- Charter Capital Generatsiya” which owns 10.26% of the As of December 31, 2009 JSC “OGK-6’s” charter capital, and Joint Stock Company register included 304,603 persons out of which “Federal Grid Company of the Unified 303,434 are individuals, 631 are legal entities, Energy System” which owns 9.595% of the 34 are nominees, 3 are trustees and 501 are charter capital. shares in joint ownership. 0.3179% of JSC “OGK-6’s” shares are The Company’s largest shareholders are: owned by the Russian Federation represented Joint Stock Company “Centerenergyholding” by the Federal Agency for Federal Property which owns 50.29% of the charter capital, Management.

Number of “OGK-6” Shareholders as of December 31, 2009

Shareholder type Number of shareholders Number of shares % to the total number of shares Owners — legal entities 631 121,830,006 0.377 Owners — individuals 303,434 666,631,146 2.065 Nominees 34 31,495,375,808 97.548 Trustees 3 1,810 <0.001 Shares in joint ownership 501 3,162,461 0.0098 Issuer’s business account Issuer account Total 304,603 32,287,001,231 100

List of Persons Who Have More Than 5% of Shares on Their Business Accounts as of December 31, 2009 Securities and Charter Capital No. Registered entity type Name Number of shares Share in charter capital, %

1 Nominee Limited Liability Company Depository and Corporate Technologies 20,242,126,314 62.69

2 Nominee Closed Joint Stock Company Gazenergoprombank 3,313,117,189 10.26

3 Nominee “The National Depository Center” (Closed Joint Stock Company) 4,487,669,371 13.9

4 Nominee Closed Joint Stock Company “Depository Clearing Company” 2,839,665,987 8.8

ANNUAL REPORT 0.0067% of JSC “OGK-6’s” shares are registered ordinary shares with a par value of Breakdown of Share Capital as of owned by constituent entities of the Russian 0.48 rubles (48 kopecks) each. The Company December 31, 2009 Federation, among which: has not issued any preference shares. 8.8% • 0.006681% of shares belong to Chukotka The shares of JSC “OGK-6” have been 13.9% 5.05% Autonomous District traded on the CJSC MICEX and JSC RTS stock 2.1% • 0.0000014% — to the Moscow Region exchanges since August 2006. On July 18, 2007 9.6% • 0.00000068% — to the Vologda Region. the shares of JSC “OGK-6” were transferred to 0.0066076% of JSC “OGK-6’s” shares are Quotation List I of JSC MICEX Stock Exchange. publicly owned by the administration of the city On February 8, 2008 JSC “OGK-6” principle issue of Surgut represented by the Department for shares were transferred from Quotation List I to

Property and Land relations. Quotation List B of the MICEX Stock Exchange. 10.26% The number of shares owned by non- On February 15, 2008, JSC “OGK-6” share 50.29% 91 residents directly included on the register of trading in JSC RTS Quotation List B started. shareholders amounts to 2,760,823 (0.0086% The shares of JSC “OGK-6” have been taken of the charter capital) as of December 31, 2009. into account while calculating the industry JSC “Centerenergyholding” The Company is one of the leaders among share index of power companies MICEX Power LLC “Invest-Generatsiya” the largest power generating companies of (MICEX PWR) since October 27, 2008. “FGC UES”, JSC Russia by the amount of its publicly traded shares which exceeds 25%. Global Depository Receipts Program NDC On July 1, 2008 Deutsche Bank Trust Company DCC 6.2. Changes in the Structure of the Americas, within the framework of JSC RAO Other shareholders Company’s Share Capital in 2009 “UES of Russia” restructuring, launched a global individuals At the end of 2009 the Company received depository receipts (GDR) program for JSC information from its shareholders on the “OGK-6” shares. The program was opened in increase of JSC “Centerenergyholding’s” share accordance with Regulation S and Rule 144A. in the Company’s charter capital from 49.74% to The GDR program was established to observe 50.29% as well as and the decrease of “Invest- the rights of holders of depository receipts Generatsiya’s” share in the charter capital of the for RAO “UES of Russia” shares. According Company from 17.11% to 10.26%. to Regulation S, the GDR was assigned the ISIN international code –– US 6708472013; 6.3. Information on Securities according to rule 144 A — US 6708471023. Shares As of December 31, 2009 the share of stock The charter capital of the Company as of traded outside the Russian Federation in the December 31, 2009 was 15,497,760,590.88 form of GDR was equal to 0.44% of the charter rubles and divided into 32,287,001,231 capital.

Shareholders Owning no Less Than 5% of Shares as of December 31, 2009

No. Shareholder name Number of shares Share in the charter capital, %

1 1 Joint Stock Company “Centerenergyholding” 16,236,782,556 50.29 Securities and Charter Capital

2 Limited Liability Company “Invest-Generatsiya” 3,312,952,0752 10.26

3 “Federal Grid Company of the Unified Energy System”, JOINT STOCK COMPANY 3,098,020,5323 9.595

1 as of December 29, 2009. 2 as of December 16, 2009. 3 as of April 20, 2009 — the date the list of persons entitled to vote at the Annual General Meeting of Shareholders was drawn up.

ОGК-6 2009 Total Number of Registered Issues of Shares:

Event Date of issue State registration number Number of ordinary Par value, rubles registration shares in the issue 1. Primary issue 17.05.2005 1-01-65106-D 23,008,616,898 1.0 2. First additional issue 06.04.2006 1-01-65106-D-001D 2,776,435,233 1.0 3. Second additional issue 24.08.2006 1-01-65106-D-002D 585,044,307 1.0 4. Third additional issue 24.08.2006 1-01-65106-D-003D 25 1.0 5. Fourth additional issue 24.08.2006 1-01-65106-D-004D 29 1.0 6. Fifth additional issue 24.08.2006 1-01-65106-D-005D 23 1.0 7. Sixth additional issue 24.08.2006 1-01-65106-D-006D 25 1.0 92 8. Seventh additional issue 24.08.2006 1-01-65106-D-007D 360,964,952 1.0 9. Joining of issues 31.10.2006 1-01-65106-D 25,785,052,131 1.0 10. Joining of issues 08.02.2007 1-01-65106-D 26,731,061,492 1.0 11. Secondary issue 15.05.2007 1-02-65106-D 26,731,061,492 0.48 12. Issue cancellation 22.05.2007 1-01-65106-D 26,731,061,492 1.0 13. Additional issue 18.09.2007 1-02-65106-D-001D 5,531,497,444 0.48 14. Additional issue 03.04.2008 1-02-65106-D-002D 22,095,831 0.48 15. Additional issue 03.04.2008 1-02-65106-D-003D 2,346,464 0.48 16. Cancellation of codes 29.04.2008 1-02-65106-D-001D 5,531,497,444 0.48 17. Joining of issue 1-02-65106-D and 1-02- 29.04.2008 1-02-65106-D 32,262,558,936 0.48 65106-D-001D 18. Cancellation of codes 22.12.2008 1-02-65106-D-002D 22,095,831 0.48 19. Cancellation of codes 22.12.2008 1-02-65106-D-003D 2,346,464 0.48 20. Joining of issue 1-02-65106-D-002D, 1-02- 22.12.2008 1-02-65106-D 32,287,001,231 0.48 65106-D-003D and 1-02-65106-D Total number of shares in circulation 32,287,001,231 0.48

JSC MICEX Stock Exchange

State registration number of issue Quotation List Shares code in trading Date of End date of trading system commencement of trading 1-01-65106-D-001D Non-listed stock OGKF-001D 02.08.06 31.10.06 1-01-65106-D Non-listed stock OGKF 31.10.06 25.05.07

Securities and Charter Capital 1-02-65106-D I OGK6 18.07.07 07.02.08 1-02-65106-D-001D I OGK6-001D 17.01.08 16.05.08 1-02-65106-D B OGK6 08.02.08 Now

ANNUAL REPORT JSC RTS

Issue state Quotation List Classica market Stock market registration number Shares code Date of End date of Shares Date of End date of commencement trading code commencement trading of trading of trading

1-01-65106-D-001D Non-listed stock OGKF 15.08.06 31.10.06 OGKFG 15.08.06 31.10.06

1-01-65106-D-002D; Non-listed stock OGKF 08.11.06 08.02.07 OGKFG 08.11.06 08.02.07 1-01-65106-D-003D; 1-01-65106-D-004D; 1-01-65106-D-005D; 1-01-65106-D-006D; 93 1-01-65106-D-007D.

1-01-65106-D Non-listed stock OGKF 15.08.06 17.05.07 OGKFG 15.08.06 22.05.07

1-02-65106-D Non-listed stock OGKF 18.07.07 19.02.2008 OGKFG 18.07.07 19.02.2008

1-02-65106-D B OGKF 20.02.2008 Now OGKFG 20.02.2008 Now

Bonds 01 series bonds (State Registration Number system is RU000A0JP6X0. Coupon rate for 4-01-65106-D) were placed on the MICEX 01 series bonds of JSC “OGK-6” was defined Stock Exchange on April 26, 2007. The bonds at the bid in the course of placement and code in the MICEX Stock Exchange trade amounted to 7.55% per annum.

JSC “OGK-6” 012 Series Bond Issue Parameters According to the Resolution on Issue

Registration date Volume Maturity of Coupon payment Redemption Prior redemption of issue, bonds, years frequency million Redemption Redemption Redemption Redemption rubles date price, % of par date price, % of par value value

22.03.2007 5,000 5 Twice a year 19.04.2012 100 29.04.2010 100

Yield Payment Schedule for 01 Series Bonds

Coupon No. Payment date Coupon rate, % per Coupon amount, rubles Par value redemption, rubles annum 1 25.10.2007 7.55 37.65 — 2 24.04.2008 7.55 37.65 — Securities and Charter Capital 3 23.10.2008 7.55 37.65 — 4 23.04.2009 7.55 37.65 — 5 22.10.2009 7.55 37.65 — 6 22.04.2010 7.55 37.65 — 7 21.10.2010 — 8 21.04.2011 — Defined by issuer 9 20.10.2011 — 10 19.04.2012 1,000

ОGК-6 2009 The Company’s obligations related to 01 6.4. JSC “OGK-6” Security Trading the Company capitalization calculated as series bonds are secured by LLC OGK Finance’s Results in 2009 a product of the total number of all issued guarantee. In 2009, the market price for one JSC “OGK-6” shares by their market value grew by The Company’s obligations for payment share grew by 179% from 0.268 rubles 179% from billion rubles of the first, second and third 01 series bond on December 31, 2008 to 0.745 rubles on coupon yields were fulfilled in a timely fashion December 31, 2009, and on RTS it grew by 8.6 and in full. 122% from 0.0342 rubles on April 8, 2009 to ($31 per kW of installed capacity) to On April 9, 2008 the Company finished 0.75916 rubles on December 31, 2009. billion rubles redemption of 2,125,864 bonds with a par During the year the MICEX Index grew by value of 1,000 rubles. This redemption 121% from 620 points on December 31, 2008 24.2 was carried out due to the resolution to 1,370 points on December 31, 2009, and the ($88 per kW of installed capacity). 94 passed on November 9, 2007 regarding the RTS Index grew by 129% from 631.89 points Company restructuring due to which bond on December 31, 2008 to 1,444.61 points holders received the right to claim their on December 31, 2009. In 2009 the MICEX prior redemption. With regard to the sum Power Index grew by 167% from 892 points of accumulated coupon yield equal to 73.4 on December 31, 2008 to 2,384 points on million rubles, 2.2 billion rubles was used for December 31, 2009. redemption. 2,874,136 bonds continued to be The main reason for the surge in JSC in circulation. “OGK-6’s” share price was the recovery of the In accordance with the resolution to issue 01 stock market after the global financial recession. series bonds on completion of the sixth coupon In the same period, the Company period, an offer on redemption of bonds by an capitalization calculated as a product of the issuer is provided which can be used by holders total number of all issued shares by their of 01 series bonds of JSC “OGK-6”. According market value (calculated in accordance to the bonds issue terms, JSC “OGK-6” is with Federal Commission for the Securities entitled to establish a new coupon rate on Market of the Russian Federation Decree completion of the sixth coupon period. No. 03-52/пс dd. December 24, 2003) grew by

Dynamics of JSC “OGK-6” share price and the MICEX stock exchange stock indices in 2009

1 2,500 0.9 0.8 2,000 MICEX indices 0.7 0.6 1,500 0.5

JSC "OGK-6" share price, rubles 0.4 1,000

Securities and Charter Capital 0.3 0.2 500 0.1

0 0 11.01 30.01 20.02 17.03 07.04 28.04 21.05 11.06 03.07 24.07 14.08 04.09 25.09 16.10 09.11 30.11 21.12

Market price, rubles Micex index MICEX power index (MICEX PWR)

ANNUAL REPORT OGK-6 Capitalization in 2008—2009

Date Number of issued MICEX market Capitalization, rubles Capitalization/installed Net debt, thousand EV3, $/kW shares, price, rubles1 capacity rubles2

rubles/kW $/kW

31.12.2008 32,287,001,231 0.268 8,652,916,330 810 33 -1,318,944 27

31.12.2009 32,287,001,231 0.748 24,150,676,921 2,668 88 3,376,170 101

179% from 8.6 billion rubles ($31 per kW of JSC RTS installed capacity) to 24.2 billion rubles ($88 In the period from January 11, 2009 to December 95 per kW of installed capacity). 31, 2009 446 market trades were executed on JSC RTS, the trade volume constituted 266,538 JSC MICEX Stock Exchange million shares or 167,997 million rubles. In the period from January 11, 2009 to December 31, 2009 235,613 market trades were Bonds executed on JSC MICEX with JSC “OGK-6” JSC “OGK-6” 01 series bonds have been shares, the trade volume constituted around traded on Quotation List B of JSC MICEX Stock 17,907 million shares or 10,698 million rubles. Exchange since November 15, 2007.

Results of Trading JSC “OGK-6 Shares” on MICEX Stock Exchange in 2009, Main Trading Mode

January, February, March, April, May, June, July, August, Septem- October, Novem- Decem- 2009 2009 2009 2009 2009 2009 2009 2009 ber, 2009 ber, ber, 2009 2009 2009 Number of 6688 6971 4312 29,152 31,148 43,775 19,982 16,922 18,388 29,194 16,017 14,934 market trades Trade volume, 334.18 513.41 285.16 2,292.17 2,616.39 3,457.94 1,260.9 879.1 1,417 2,291 1,205 1,186 million shares Trade volume, 85.88 141.69 81.29 929.49 1,275.2 2,279.1 679.6 1,156 967 1,805 918 882 million rubles

Results of Trading JSC “OGK-6” Shares on JSC RTS (Classica Market) in 2009

January, February, March, April, May, June, July, August, Septem- October, Novem- Decem- 2009 2009 2009 2009 2009 2009 2009 2009 ber, 2009 ber, ber, 2009 2009 2009 Number of market trades and trades 4 2 7 25 27 53 55 12 71 84 5 130 based on direct quotes, pcs. Securities and Charter Capital Trade volume, 1.192 0.272 43.844 8.082 15.987 8.372 7.465 5.926 12.528 15.68 2.028 145.162 million shares Trade volume, 0.292 0.068 12.498 2.925 7.642 5.303 3.923 3.653 8.89 12.746 1.546 108.51 million rubles

1 Market price calculated in accordance with the Procedure for calculation of market price of equity securities and investment units of unit investment funds accepted for circulation via organizers of trading (approved by Federal Commission for Securities Market of the Russian Federation Decree No. 03-52/пс dd. December 24, 2003). 2 Net debt = Long-term loans and credits + Short-term loans and credits — Cash assets — Short-term financial investments — Long-term deposits accounted in Long-term financial investments. 3 EV (Enterprise Value) = Capitalization + Net debt.

ОGК-6 2009 In 2009 543 trades were executed with 2008 amounting to 325 million rubles or JSC “OGK-6” 01 series bonds on JSC MICEX 0.01007367 for one ordinary share. Stock Exchange in the main trading mode, As of December 31, 2009 dividends payable the volume of bond trades constituted 4,077 to minority shareholders amounted to 7.1 million rubles. million rubles including 1.9 million rubles The yield decrease during 2009 was of dividends payable to shareholders of JSC primarily caused by an increase in liquidity Cherepovetskaya GRES which was taken due to recovering from the global financial over during restructuring. The debt to JSC recession. “GRES-24” shareholders amounting to 6.2 rubles million was written off due to expiry 6.5. Dividends of a limitation period. The debt was primarily 96 In 2009 the annual General Meeting of caused by shareholders’ failure to submit true Shareholders of JSC “OGK-6” passed a and complete data required for payment of resolution to not pay dividends for 2008 dividends. due to the payment of interim dividends Since 2007, JSC CMD, the Company’s based on the results of the first quarter of registrar has been the dividend paying agent.

JSC “OGK-6” Effective Bond Yield Dynamics for JSC “OGK-6” 01 Series Bonds, 2009

45%

40%

35%

30%

25%

20%

15%

10%

11.01 11.02 11.03 11.04 11.05 11.06 11.07 11.08 11.09 11.10 11.11 12.12

2009 Securities and Charter Capital

ANNUAL REPORT Payment of JSC “OGK-6” Share Dividends

Period for which the Date of the resolution by To be paid Dividend per share, Dividends Amount paid, Debt, dividends are paid the General Meeting of by rubles accrued, million rubles million rubles Shareholders regarding million rubles payment of dividends 9 months of 2005 23.12.2005 21.02.2006 0.01398098 321.7 321.7 0 Q1 2006 11.05.2006 10.07.2006 0.01765935 406.3 406.3 0 6 months of 2006 27.09.2006 27.11.2006 0.00886215 228.5 228.5 0 2006 29.06.2007 28.08.2007 0.00845417 226 224.6 1.2 Q1 2007 29.06.2007 28.08.2007 0.00860422 230 228.7 1.3 97 6 months of 2007 01.10.2007 26.11.2007 0.00978311 261.5 260.1 1.4 Q1 2008 11.06.2008 11.08.2008 0.01007367 325 323.7 1.3 TOTAL 1,999 1,993.8 5.21 Securities and Charter Capital

1 Excluding dividends payable to JSC “Cherepovetskaya GRES” shareholders

ОGК-6 2009 the power of movement 7 Structures and Principles of Corporate Governance

7.1. Principles and documents 7.2. Information on Administrative and Control Bodies

Success awaits those who strive to obtain it, those who believe in themselves and their actions. 7

Structure and principles of corporate governance

100

7.1. Principles and Documents purposes of its development and assurance of The Company’s corporate governance financial sustainability. means the aggregate of processes enabling In its corporate governance practices, JSC management and control over its activities “OGK-6” strives to adhere to the primary including relations between shareholders, the principles formulated in the Code of Corporate Board of Directors and executive bodies of Conduct recommended for application by the Company on behalf of shareholders. The the Federal Financial Markets Service. The Company considers corporate governance as a information regarding meeting the primary means to improve the Company’s performance, requirements of the Code of Corporate Conduct raise its reputation and increase capitalization. is given in the appendix hereto. The Company’s corporate governance is The Company has adopted the following carried out in accordance with the Corporate documents regulating interaction in the sphere Governance Code adopted by the Company and of corporate governance: based on the following principles: Accountability. The Code provides for the Company’s Charter accountability of the Company’s Board of The Charter is the constituent document of the Directors to all shareholders in accordance with Company. The Charter includes the information applicable law and serves as guidance for the regarding the Company’s legal status, objectives Board of Directors in drawing up Resolutions and types of activities of the Company, charter and effecting control over activities of the capital and shareholders’ rights. The document Company’s executive bodies. also describes the Company’s bodies, their Fairness. The Company commits itself competence and operating procedures. to defending the shareholders’ rights and On July 1, 2009 a new version of the Charter ensuring fair treatment of all shareholders. The of JSC “OGK-6” came into force which was Board of Directors shall give all shareholders approved on June 8, 2009 by the General the opportunity to receive efficient protection in Meeting of Shareholders of JSC “OGK-6” and case of their rights being violated. registered by Inspectorate of Federal Tax Service Transparency. The Company shall provide of Russia No. 29 for Moscow on July 1, 2009.

Structures and Principles of Corporate Governance for timely disclosure of reliable information Amendments to this version of the Charter: regarding all significant facts related to Appendix No. 1 to the Charter, registered on its activities, including its financial status, January 14, 2010 (amendments to the list of social and environmental data, performance, Company branches). ownership and management structure as well as grant free access to such information to Corporate Governance Code of JSC “OGK-6” interested parties. The Corporate Governance Code was approved Responsibility. The Company shall by the Board of Directors on December 21, acknowledge all the interested parties’ 2006 (Minutes No. 29 dd. December 25, 2006). rights stipulated by applicable law and strive The purposes of the Corporate Governance towards cooperation with such persons for the Code are improving and systematizing

ANNUAL REPORT JSC “OGK-6’s” corporate governance, making Board of Directors, specify the functions of it more transparent and confirming the the Chair, Deputy Chair and Secretary of the Company’s commitment to follow corporate Board of Directors and also the committees and governance good practice. commissions of the Board of Directors.

Regulations on Information Policy Regulations on the General Director The Regulations on Information Policy as The Regulations on the General Director were amended were approved by resolution of the approved by the Annual General Meeting of Board of Directors on December 21, 2006 Shareholders of JSC “OGK-6” on June 8, 2009 (Minutes No. 29 dd. December 25, 2006). (Minutes No. 10). The Regulations establish the The Regulations establish the content of period of authority of the General Director, his/ the information disclosed by the Company, her rights, obligations and responsibilities and 101 frequency, terms and procedure for disclosure. also the procedure for monitoring the activity of the General Director. Regulations on Insider Information The Regulations on Insider Information as Regulations on the Management Board amended were approved by resolution of The Regulations on the Management Board the Board of Directors on May 25, 2007 were approved by the Annual General Meeting of (Minutes No. 40 dd. May 25, 2007). The Shareholders of JSC “OGK-6” on June 8, 2009 Regulations are aimed at preventing use of (Minutes No. 10). The Regulations establish non-public information for the benefit of the membership, period of authority as well as certain individuals. Control over the use of the work plans, procedure for convening and insider information is carried out by a separate holding meetings of the Management Board and structural unit of the Company. passing resolutions. The Regulations establish the rights and obligations of members of the Regulations on the General Meeting of Management Board and specify the functions of Shareholders the Chair and the Secretary of the Management The Regulations on the General Meeting of Board, and also the procedure for drawing up Shareholders were approved by the Annual Management Board resolutions and monitoring General Meeting of Shareholders of JSC their fulfillment. “OGK-6” on June 8, 2009 (Minutes No. 10). The Regulations establish the types, formats, Regulations on the Procedure for Payment of periods and procedures for holding a General Bonuses and Remuneration to Members of JSC Meeting of Shareholders, procedure for “OGK-6’s” Board of Directors introducing issues to the agenda of the Annual The Regulations on the Procedure for Payment of General Meeting of Shareholders and on Bonuses and Remuneration to Members of JSC nominating candidates for Company bodies. “OGK-6’s” Board of Directors as amended were The procedure for holding a General Meeting of approved by resolution of the Annual General Shareholders specifies functions of the General Meeting of Shareholders of JSC “OGK-6” dd. Meeting operating bodies and others. June 8, 2009 (Minutes No. 10). The Regulations establish the procedure for payment and amount

Regulations on the Board of Directors of bonuses and remuneration paid to the Structures and Principles of Corporate Governance The Regulations on the Board of Directors were members of the Board of Directors. approved by the Annual General Meeting of Shareholders of JSC “OGK-6” on June 8, 2009 Regulations on the Audit Commission (Minutes No. 10). The Regulations establish The Regulations on the Audit Commission the membership, and period of authority of were approved by resolution of the Board of the Board of Directors, as well as work plans Directors of JSC RAO “UES of Russia” executing and the procedure for holding meetings of the functions of an Extraordinary General Meeting of Board of Directors and passing resolutions. The Shareholders of JSC “OGK-6” on July 29, 2005 Regulations establish the rights, obligations (Minutes No. 200). The Regulations establish the and responsibilities of the members of the tasks to be performed by the Audit Commission

ОGК-6 2009 as well as its rights and obligations and establish December 21, 2005 (Minutes No. 12). The the procedure for carrying out audits. Regulations establish the purposes and objectives of the Board of Directors’ Reliability Regulations on Payment of Bonuses and Committee as well as the procedure for Remuneration to Members of the Audit formation, rights and obligations of the Chair Commission and members of the Committee and procedure The Regulations on Payment of Bonuses for holding meetings. and Remuneration to Members of the Audit Commission were approved by resolution of Regulations on the Internal Control System the Board of Directors of JSC RAO “UES of The Regulations on the Internal Control System Russia” executing functions of an Extraordinary were approved by the Company’s Board 102 General Meeting of Shareholders of JSC of Directors on October 8, 2009 (Minutes “OGK-6” on July 29, 2005 (Minutes No. 200). No. 28 dd. October 12, 2009). The Regulations The Regulations establish the amount, form and establish the purposes and objectives, terms of payment of bonuses and remuneration principles of functioning and procedures of the to the members of the Audit Commission and Company’s internal control system. professionals (experts) engaged by the Audit Texts of the documents are published on the Commission. By resolution of the Annual Company’s website: www.ogk6.ru General Meeting of JSC “OGK-6” on June 11, 2008 (Minutes No. 9) certain amendments were 7.2. Information on Administrative introduced to the Regulations. and Control Bodies General Meeting of Shareholders Regulations on the Board of Directors’ The Company’s General Meeting of Committee for Strategy and Business Planning Shareholders is the superior management The Regulations on the Board of Directors’ body. The General Meeting of Shareholders Committee for Strategy and Business Planning entitles shareholders to participate in were approved by resolution of the Board of management of the Company by making Directors dd. February 14, 2007 (Minutes No. 31). resolutions on the most important issues The Regulations establish the purposes, objectives related to the Company’s business within and competence of the Board of Directors’ the competence of the General Meeting Committee for Strategy and Business Planning of Shareholders. The Board of Directors, as well as the procedure for formation, rights executive bodies, and the Audit Commission and obligations of the Chair and members of the are accountable to the General Meeting of Committee and procedure for holding meetings. Shareholders. The competence of the General Meeting of Shareholders and the timelines Regulations on the Board of Directors’ Audit and procedure for preparation and holding Committee and forms of holding thereof are established The Regulations on the Board of Directors’ in the Federal Act On Joint-Stock Companies, Audit Committee were approved by resolution in the Charter, and in the Regulations on the of the Board of Directors dd. February 14, 2007 Procedure for Preparation and Holding of the (Minutes No. 31). The Regulations establish General Meeting of Shareholders.

Structures and Principles of Corporate Governance the purposes and objectives of the Board of Directors’ Audit Committee as well as the Board of Directors. Changes to the procedure for formation, rights and obligations Membership of the Board of Directors. of the Chair and members of the Committee Share Fraction owned by the Members of the and procedure for holding meetings. Board of Directors. General management of the Company is Regulations on the Board of Directors’ exercised by the Board of Directors, which passes Committee for Reliability resolutions on significant issues of the Company’s The Regulations on the Board of Directors activities within the competence established in Committee for Reliability were approved the Charter. The procedure for the activities of by resolution of the Board of Directors dd. the Company’s Board of Directors is regulated

ANNUAL REPORT JSC “OGK-6” CORPORATE GOVERNANCE STRUCTURE

GENERAL MEETING AUDIT AUDITOR OF SHAREHOLDERS COMMISSION

BOARD OF DIRECTORS’ COMMITTEE FOR STRATEGY AND BUSINESS PLANNING

BOARD BOARD OF DIRECTORS’ OF DIRECTORS AUDIT COMMITTEE 103

BOARD OF DIRECTORS’ COMMITTEE FOR RELIABILITY

MANAGEMENT BOARD INTERNAL AUDIT BOARD

CEO (GENERAL DIRECTOR)

EXECUTIVE OFFICE

by the Charter and the Regulations on the Board (Minutes No. 9 dd. June 11, 2008) elected the of Directors of JSC “OGK-6”. The Board of Company’s Board of Directors as follows: Directors is a collective body made up of 11 • Denis Vladimirovich Fedorov — persons. Members of the Board of Directors are Chair of the Board of Directors; elected by the General Meeting of Shareholders • Irina Nikolayevna Aristarkhova; for a period lasting till the next Annual General • Anatoly Anatolyevich Gavrilenko; Meeting of Shareholders. By resolution of the • Maria Konstantinovna Zavrieva; General Meeting of Shareholders, the authority • Alexander Vladimirovich Ilyenko of all members of the Board of Directors may be • Igor Iosifovich Lipsky terminated early. Persons elected to the Board of • Alexey Alexandrovich Mityushov Directors may be re-elected an unlimited number • Seppo Yukha Remes of times. Candidates for election to the Board • Mikhail Vladimirovich Sorokin of Directors may be nominated by shareholders • Mikhail Leonidovich Khodursky owning no less than 2% of the Company’s voting • Pavel Olegovich Shatsky

shares and also by the Board of Directors in the According to the FFMS of Russia Code of Structures and Principles of Corporate Governance event that the number of candidates put forward Corporate Conduct recommended for joint- by shareholders is insufficient to form a Board of stock companies by Order No. 421/р, the Directors. following persons were acknowledged to be the In 2009, changes were made to the structure Company’s independent directors: of the Board of Directors. • Irina Nikolayevna Aristarkhova; • Anatoly Anatolyevich Gavrilenko; Membership of the Board of Directors for the • Maria Konstantinovna Zavrieva; Period from June 11, 2008 to June 7, 2009: • Alexander Vladimirovich Ilyenko; On June 11, 2008 the Annual General • Igor Iosifovich Lipsky; Meeting of Shareholders of JSC “OGK-6” • Seppo Yukha Remes;

ОGК-6 2009 • Mikhail Vladimirovich Sorokin; For participating in a Meeting of the Board of • Denis Vladimirovich Fedorov; Directors, a member of the Board of Directors • Mikhail Leonidovich Khodursky; shall be paid remuneration in the amount equal • Pavel Olegovich Shatsky. to 4 (four) minimum monthly base rates of On June 8, 2009 the Annual General Meeting a first-category worker, established by the of Shareholders of JSC “OGK-6” (Minutes No. Industry Pay Rate Agreement in the Russian 10 dd. June 8, 2009) elected the Company’s Electrical Power Sector (hereinafter referred Board of Directors as follows: to as the “Agreement”) as of the day of the • Boris Felixovich Weinsicher; Meeting of the Company’s Board of Directors • Anatoly Anatolyevich Gavrilenko; with adjustment for inflation established by the • Alexander Vladimirovich Ilyenko; Agreement, within one calendar month of the 104 • Alexey Alexandrovich Mityushov; Meeting of the Company’s Board of Directors. • Maria Gennadyevna Tikhonova; The bonus paid to the Chair of the Board of • Denis Vladimirovich Fedorov; Directors (Deputy Chair or other individual who • Evgeniya Viloryevna Fisher; chairs a meeting of the Board of Directors) for • Mikhail Leonidovich Khodursky; each meeting where he/she fulfilled functions of • Damir Akhatovich Shavaleyev; the Chair of the Board of Directors (hereinafter • Pavel Olegovich Shatsky; referred to as “fulfillment of the functions of the • Sergey Viktorovich Yatsenko. Chair”) is increased by 50%. According to the FFMS of Russia Code of The minimum monthly base rate of a first- Corporate Conduct recommended for joint- category worker established by the Industry stock companies by Order No. 421/р, the Rate Agreement was equal to 3,554 rubles as following persons are acknowledged to be the of January 1, 2009, 3,746 rubles as of April Company’s independent directors: 1, 2009, 3,817 rubles as of July 1, 2008, and • Anatoly Anatolyevich Gavrilenko; 3,842 rubles as of October 1, 2009. • Alexander Vladimirovich Ilyenko; An additional part of remuneration is paid to • Evgeniya Viloryevna Fisher; the members of the Board of Directors of the • Mikhail Leonidovich Khodursky; Company at the end of the financial year in the • Pavel Olegovich Shatsky; event that the Company generates net profit. • Damir Akhatovich Shavaleyev; A resolution to pay an additional part of • Sergey Viktorovich Yatsenko; remuneration to the members of the Board of In 2009, the Board of Directors held 19 Directors is passed by the Company’s General meetings, 3 of them were in praesentia. 140 Meeting of Shareholders. A resolution of the issues were considered. Company’s General Meeting of Shareholders The amount and procedure for payment on paying an additional part of remuneration of bonuses and remuneration to the to the members of the Board of Directors members of the Board of Directors was establishes its total amount. The total amount established in accordance with the of an additional part of remuneration based “Procedure for Payment of Bonuses on the Company’s performance may not and Remuneration to Members of JSC exceed 5 (Five) percent of the Company’s net “OGK-6’s” Board of Directors” on June profit generated during the financial year in

Structures and Principles of Corporate Governance 8, 2009 by the Annual General Meeting of which the current membership of the Board Shareholders (Minutes No. 10). Until June of Directors was elected. An additional part of 8, 2009 the Regulations approved by the remuneration is paid within a month after the Annual General Meeting of Shareholders of Company’s General Meeting of Shareholders the Company (Minutes No. 9 dd. June 11, is held. An additional part of remuneration 2008) were effective. According to the new based on the Company’s performance is version of the Resolutions: not paid to the members of the Board of Basic remuneration is the remuneration paid Directors who participate in less than half to the Members of the Board of Directors of the of the meetings of the Board of Directors Company for participating in the meetings of (from the point he/she is elected to the point the Board of Directors. when his/her powers are terminated). The

ANNUAL REPORT Company doesn’t calculate an additional part Development and Power Industry Marketing of of remuneration for the members of the Board JSC Gazprom’s Department of Marketing and of Directors if net profit isn’t generated. Processing of Gas and Liquid Hydrocarbons; In the table below the total amount of • Yury Alexandrovich Lukanin — Head of remuneration paid to the members of the Board Department at LLC Gazpromenergo; of Directors of JSC “OGK-6” in 2009 is given. • Dmitry Petrovich Matyushkin — Deputy Head of the Department of Investment Committees of the Board of Directors Management and Capital Construction at JSC On February 14, 2007, JSC “OGK-6’s” Board “OGK-6”; of Directors resolved to establish the Board of • Alexander Vladimirovich Rogov — Chief Directors’ Committee for Strategy and Business Specialist of the Power Engineering Division Planning (Minutes No. 31 February 15, 2007). of the Office of Power Sector Development 105 The Committee is an advisory body which and Power Industry Marketing of JSC ensures efficient execution of functions related “GAZPROM’s” Department of Marketing and to the general management of the Company by Processing of Gas and Liquid Hydrocarbons; the Board of Directors. • Konstantin Konstantinovich Skorikov — The Committee’s purpose is to develop and Adviser to the Chair of the Board of JSC present recommendations (opinions) to the Gazenergoprombank; Board of Directors and executive bodies of • Dmitry Alexeevich Syrovatkin — Chief the Company with regard to issues related to Specialist of the Power Engineering Division setting business priorities, strategic aims and of the Office of Power Sector Development main principles of the Company’s strategic and Power Industry Marketing of JSC development and business planning. “GAZPROM’s” Department of Marketing and The number of members in the Committee Processing of Gas and Liquid Hydrocarbons; is determined by a resolution of the Company’s • Pavel Olegovich Shatsky — member of JSC Board of Directors. The members of the “OGK-6’s” Board of Directors, First Deputy Committee are elected by the Company’s Board General Director of LLC Gas and Energy of Directors by a majority vote. Company. In the period from July 18, 2008 to June By resolution of the Board of Directors 7, 2009 the Board of Director’s Strategy and (Minutes No. 24 dd. July 23, 2009) the Board Business Planning Committee (Minutes of the of Directors’ Strategy and Business Planning Board of Directors No. 4 dd. July 18, 2008) Committee was formed as follows: included the following members: • Pavel Olegovich Shatsky — Chairman of • Mikhail Leonidovich Khodursky — Chair of the Committee, member of JSC “OGK-6’s” the Committee; Board of Directors, First Deputy General • Ivan Evgenyevich Dotsenko — Head of JSC Director of LLC Gazprom Energyholding. “OGK-6’s” Finance Department; • Sergey Petrovich Anisimov — Head of the • Lev Alexandrovich Ketkin — Deputy Economics and Tariff Formation Department Executive Director at JSC “SO UPS”; at LLC Gazprom Energyholding. • Irina Yuryevna Korobkina — Deputy Head • Alexey Leonidovich Borov — Lead Expert of the Division of Electricity Sector Reform of the Power Industry Investment Planning

Support of the Office of Power Sector Department at JSC “SO UPS”. Structures and Principles of Corporate Governance

thousand rubles

Types of remuneration 2009 For meetings 4,259 For net profit 1,473 Total 5,732

ОGК-6 2009 • Yana Nikolaevna Ganzer — Head of Board of Directors on the Company’s risks in the Department for Accounting and a timely fashion. Monitoring Construction at LLC Gazprom The number of members of the Committee Energyholding. is established by resolution of the Company’s • Alexander Gennadyevich Diykov — Chief Board of Directors and is no less than 3 Specialist of the Department of Power Sector (three) and no more than 5 (five) people. Development of the Office of Power Sector The members of the Committee are elected Development and Power Industry Marketing by the Company’s Board of Directors by the of JSC “GAZPROM”. majority of votes of the members of the Board • Ivan Evgenyevich Dotsenko — Head of of Directors participating in the Meeting of the JSC “OGK-6’s” Finance Department; Board of Directors. 106 • Mikhail Igoryevich Kovalev– Head of the In the period from July 11, 2008 to June Department for Organizing Investment at 7, 2009 the Audit Committee of the Board JSC “OGK-6”; of Directors (Minutes No. 54) included the • Irina Yuryevna Korobkina — Deputy Head following members: of the Division of Electricity Sector Reform • Seppo Yukha Remes — Chair of the Support of the Office of Power Sector Committee; Development and Power Industry Marketing • Anatoly Anatolyevich Gavrilenko; of JSC “GAZPROM”; • Mikhail Leonidovich Khodursky. • Yury Alexandrovich Lukanin — Head of By resolution of the Board of Directors dd. Department at LLC Gazpromenergo; July 23, 2009 (Minutes No. 24 dd. July 23, • Alexander Vladimirovich Rogov — Deputy 2009) the members of the Audit Committee of Head of the Division for Development of the Board of Directors are: the Electricity Sector of the Office of Power • Mikhail Leonidovich Khodursky — Chair of Sector Development and Power Industry the Committee; Marketing of JSC “GAZPROM”; • Alexander Vladimirovich Ilyenko; • Maria Gennadyevna Tikhonova — member • Sergey Viktorovich Yatsenko. of JSC “OGK-6’s” Board of Directors, Deputy For the purpose of effective functioning Director of the Department for Economic of the Board of Directors in the sphere of Regulation and Property Relations at the Fuel production activity analysis, assessment of and Energy Sector of the Ministry of Energy the technical status, power facilities operation of Russia. and maintenance level and evaluation of On February 14, 2007 JSC “OGK-6’s” Board engineering teams performance, on December of Directors resolved to establish the Board 12, 2005, the Board of Directors of JSC of Directors’ Audit Committee (Minutes No. “OGK-6” resolved to establish the Board of 31 dd. February 15, 2007). The aims of the Directors’ Committee for Reliability (Minutes Committee are development and presentation No. 12 dd. December 21, 2005). The number of of recommendations (opinions) to the Board members in the Committee is determined by a of Directors with regard to audit and internal resolution of the Company’s Board of Directors. control. In accordance with the Regulations on The members of the Committee are elected the Board of Directors’ Audit Committee, the by the Company’s Board of Directors out of

Structures and Principles of Corporate Governance Committee’s competence includes evaluation candidates nominated by the members of the of candidates for the Company’s auditors, Board of Directors. review of the Company auditor’s opinion In the period from August 11, 2008 to as well as evaluation of internal control June 7, 2009 the Committee for Reliability procedures effectiveness and preparation of of the Board of Directors (Minutes No. 4 dd. proposals for their improvement. July 18, 2008) included the following members: The Audit Committee shall give the Board • Viktor Vladimirovich Okhotin — Chair of of Directors economically efficient and the Committee, Head of the Technical Audit legally relevant recommendations (opinions) Department at JSC “SO UPS”; with respect to the issues referred to the • Evgeny Alexandrovich Popov — Lead Committee’s competence and inform the Specialist of the Power Engineering Division

ANNUAL REPORT of the Office of Power Sector Development members of the Committee for Reliability of the and Power Industry Marketing of JSC Board of Directors are: “GAZPROM’s” Department of Marketing • Denis Nikolaevich Bashuk — Chair of the and Processing of Gas and Liquid Committee, Head of Production Management Hydrocarbons; at LLC Gazprom Energyholding; • Andrey Yuryevich Putenikhin — Deputy • Dmitry Gennadyevich Gudkov — Deputy Head of Department at LLC Gazpromenergo; Director for Economics and Finance at JSC • Alexander Sergeevich Solovyev — Chief “OGK-6”; Specialist of the Power Engineering Division • Viktor Vladimirovich Okhotin — Deputy of the Office of Power Sector Development Director for Technical Control and Head of the and Power Industry Marketing of JSC Technical Audit Department at JSC “SO UPS”; “GAZPROM’s” Department of Marketing • Evgeny Alexandrovich Popov — Chief 107 and Processing of Gas and Liquid Specialist of the Power Engineering Division Hydrocarbons; of the Office of Power Sector Development • Dmitry Alexeevich Syrovatkin — Chief and Power Industry Marketing of JSC Specialist of the Power Engineering Division “GAZPROM”; of the Office of Power Sector Development • Nikolay Dmitrievich Rogalev — Deputy and Power Industry Marketing of JSC General Director for Innovational “GAZPROM’s” Department of Marketing Development at LLC Gazprom and Processing of Gas and Liquid Energyholding; Hydrocarbons; • Nikolay Alexandrovich Tatarinov — • Nikolay Alexandrovich Tatarinov — JSC JSC “OGK-6” Deputy General Director for “OGK-6” Deputy General Director for Production and Chief Engineer; Production and Chief Engineer; • Artur Mikhailovich Trinoga — Head of the • Artur Mikhailovich Trinoga — Head of the Power Engineering Division of the Office Power Engineering Division of the Office of Power Sector Development and Power of Power Sector Development and Power Industry Marketing of JSC “GAZPROM”; Industry Marketing of JSC “GAZPROM’s” • Valery Mukhamedovich Shogenov — Deputy Department of Marketing and Processing of Director of the Department for Economic Gas and Liquid Hydrocarbons. Regulation and Property Relations at the Fuel By resolution of the Board of Directors and Energy Sector of the Ministry of Energy (Minutes No. 24 dd. July 23, 2009) the of Russia. Structures and Principles of Corporate Governance

ОGК-6 2009 Information on Members of the Board of Directors

Fedorov Denis Vladimirovich

Year of birth: 1978 Education: Bauman Moscow State Technical University, 2001.

108 Employment for the past 5 years: • March 2009 — present LLC Gazprom Energyholding, General Director • 2008 — present JSC “OGK-2”, JSC Tyumen Power Sales Company, Chair of the Board of Directors • 2008 — present JSC Mosenergo, JSC “TGK-1”, JSC Interregional Distribution Grid Company of Volga, JSC Tyumenenergo, JSC Mosteplosetenergoremont, CJSC Gazenergoprombank, JSC Hrazdan Energy Company, JSC Mezhregionstroy, JSC RAO Energy Systems of East, Member of the Board of Directors • 2008 — present CJSC Kaunas Heat and Power Plant, Member of the Board • 2007 — present JSC Centerenergyholding, Member of the Board of Directors • 2007 — present JSC “GAZPROM”, Head of the Office of Power Sector Development and Power Industry Marketing • 2006—2008 JSC Mezhregionenergosbyt, General Director • 2006—2007 LLC Mezhregiongaz, Advisor to the General

Structures and Principles of Corporate Governance Director • 2002—2006 LLC EuroSibEnergoEngineering, 1st Category Specialist, Head of the Department • Owns no shares of JSC “OGK-6”.

ANNUAL REPORT Weinsicher Boris Felixovich Year of birth: 1968 Education: Saint Petersburg State Technical University, Turbine Construction, 1993. Open Business School of the Open University in Great Britain, Management, 2002. 109

Employment for the past 5 years: • 2008 — present JSC “TGK-1”, General Director • 2009 — present JSC “OGK-2”, Member of the Board of Directors • 2007—2008 JSC RAO “UES of Russia”, Member of the Board, Technical Director • 2007—2007 JSC “Power Machines”, General Director • 2005—2007 JSC RAO “UES of Russia”, Member of the Board, Technical Director • Owns 0.0113% of the shares of JSC “OGK-6” Structures and Principles of Corporate Governance

ОGК-6 2009 Gavrilenko Anatoly Anatolyevich Year of birth: 1972 Education: Lomonosov Moscow State University, 1995, Lomonosov Moscow State University, 2001.

Employment for the past 5 years: • 2008 — present 110 JSC Mosenergo, JSC “OGK-2”, JSC Gazpromenergobank, JSC Moscow United Electric Grid Company, JSC SIBUR Holding, JSC Salavatnefteorgsintez, JSC “TGK-1”, Member of the Board of Directors • 2004 — present CJSC Leader (Pension Fund Asset Management Company), General Director, Member of the Board of Directors • 1998—2004 CJSC Alor Invest, Director for Strategic Financial Planning • Owns no shares of JSC “OGK-6”.

Ilyenko Alexander Vladimirovich

Year of birth: 1972 Education: Stavropol Polytechnic Institute, 1994

Employment for the past 5 years: • 2008 — present JSC “TGK-11”, Member of the Board of Directors • 2004 — present

Structures and Principles of Corporate Governance JSC “SO UPS”, Director for Development of Dispatching Control Technologies • 2003—2004 JSC SO-CDM UES, Deputy Head of Operative Dispatching Service, Deputy Chief Dispatcher • Owns 0.000009% of the shares of JSC “OGK-6”.

ANNUAL REPORT Mityushov Alexey Alexandrovich Year of birth: 1975 Education: Ustinov Baltic State Technical University, 1997

Employment for the past 5 years: • 2010 — present JSC “OGK-2”, Chair of the Management Board, General Director 111 • 2008 — present JSC “OGK-6”, Chair of the Management Board, General Director, Member of the Board of Directors • 2009 — present JSC “TGK-1”, Member of the Board of Directors • 2009 — present JSC Mosenergo, Member of the Board of Directors • 2009 — present JSC “OGK-2”, Member of the Board of Directors • 2009 — present JSC Salavatnefteorgsintez, Member of the Board of Directors • 2009 — present JSC Mezhregionenergogaz, Chair of the Board of Directors • 2009 — present JSC Mezhregionteploenergo, Chair of the Board of Directors • 2009 — present JSC Arkhoblenergogaz, Member of the Board of Directors • 2007 — present LLC Gazpromenergo, General Director • 2006 — present JSC Gazpromregiongaz, Member of the Board

of Directors Structures and Principles of Corporate Governance • 2003—2007 LLC Mezhregiongaz, Head of the Department for Property Management and Corporate Work • Owns no shares of JSC “OGK-6”.

ОGК-6 2009 Fisher Evgeniya Viloryevna Year of birth: 1965 Education: Gubkin Moscow Institute of Oil and Gas, Technology and Comprehensive Mechanization of Development of Oil and Gas Fields, 1998

Employment for the past 5 years: 112 • 2009 — present JSC “GAZPROM”, Deputy Head of the Office of Power Sector Development and Power Industry Marketing • 2004—2008 JSC “GAZPROM”, Deputy Head of the Department for Gas Resource Distribution • Owns no shares of JSC “OGK-6”.

Tikhonova Maria Gennadyevna

Year of birth: 1980 Education: Volga-Vyatskaya Civil Service Academy, Municipal Administration, 2002. Academy of the National Economy under the Government of the Russian Federation, State Administration of Economic Development, 2005. Higher School of Economics, MBA, Finance, — present

Employment for the past 5 years: • 2009 — present Ministry of Energy of the Russian Federation, Deputy Director of the Department for Economic Regulation and Property

Structures and Principles of Corporate Governance Relations at the Fuel and Energy Sector of the Ministry of Energy of Russia. • 2005—2008 Federal Agency for Energy, Lead Specialist, Chief Specialist, Deputy Head of the Section for Legal Support and Property Relations in the Fuel and Energy Sector • 2003—2005 Nizhegorodenergosbyt, a branch of JSC Nizhnovenergo, Consumer Support Team Specialist • Owns no shares of JSC “OGK-6”.

ANNUAL REPORT Shavaleyev Damir Akhatovich

Year of birth: 1975 Education: Ufa State Petroleum Technological University, Plants and Machinery of Chemical Companies and Construction Material Enterprises, 1998. Saint Petersburg State University, Finance and Credit, 2002.

Employment for the past 5 years: 113 • 2008 — present LLC Salavatsky Petrochemical Complex, General Director • 2005 — present JSC Salavatnefteorgsintez, General Director • 2003—2005 JSC SIBUR, Head of the Polymer, Rubber and Chemical Fiber Division • Owns 0.000594% of the shares of JSC “OGK-6”.

Shatsky Pavel Olegovich

Year of birth: 1972 Education: Russian New University, 1996, Russian State Agrarian Correspondence University, 2002, State University of Management, 2002.

Employment for the past 5 years: • 2008 — present LLC Gazprom Energyholding, First Deputy General Director • 2008 — present Court of Arbitration of the Nonprofit Partnership Market Council, Deputy Chair

• 2005—2008 Structures and Principles of Corporate Governance JSC SUEK, Director of the Department for Power Sector Strategy, Deputy Director for Strategy, Mergers and Acquisitions • 2000—2005 JSC RUSAL, JSC RUSAL-MC, Head of the Legal Support Department, Head of the Pricing Policy Department, Director of the Power Department • Owns 0.00073% of the shares of JSC “OGK-6”.

ОGК-6 2009 Khodursky Mikhail Leonidovich Year of birth: 1971 Education: Ordzhonikidze Moscow Aviation Institute, 1994, International University, 1996, Moscow State University of Technologies and Management, 2004.

Employment for the past 5 years: 114 • 2008 — present JSC “OGK-2”, JSC “TGK-1”, Member of the Board of Directors • 2008 — present JSC Sobinbank, Chair of the Board of Directors • 2007 — present CJSC Gazenergoprombank, Chair of the Board • 2006—2006 CJSC Gazenergoprombank, CJSC Gazenergoprombank, Advisor to the Chair of the Board on Regional Issues, Deputy Chair of the Board • 2006—2007 LLC Mezhregiongaz, Advisor to the General Director • 2006 — present CJSC Gazenergoprombank, Member of the Board of Directors • 1999—2004 Republican Bank (CJSC), Deputy Chair of the Board • Owns no shares of JSC “OGK-6”.

Yatsenko Sergey Viktorovich Year of birth: 1960 Education: Leningrad State University, Country Studies, 1985. Singapore University, Chinese Language, 1984. Interindustry Institute of Further Qualification under the Saint Petersburg University of Economics and

Structures and Principles of Corporate Governance Finance, 1995.

Employment for the past 5 years: • 2007—2010 JSC “GAZPROM”, First Deputy Head of the Finance and Economics Department • 2002—2007 JSC “GAZPROM”, Deputy Head of the Finance and Economics Department • Owns 0.00005% of the shares of JSC “OGK-6”.

ANNUAL REPORT Executive Bodies Directors, and passes resolutions regarding concluding deals which have a value equal to General Director more than 5% of the book value of Company’s The General Director is the sole executive body of assets (excluding deals which the Company’s the Company and is entitled to act on behalf of the Board of Directors authorizes). Members of the Company without power of attorney. The General Management Board are elected by the Board Director heads the Management Board acting as of Directors in the number determined by the the Chair of the Management Board. The General Board of Directors. In accordance with the Director is accountable to the General Meeting resolution of the Board of Directors passed on of Shareholders and the Company’s Board of October 7, 2005 the Company’s Management Directors. The General Director is appointed by Board consists of 8 persons. the Board of Directors. The General Director is The remuneration system for members of 115 responsible for implementation of the Company’s the Management Board is established by their objectives, strategy, and policies. labor contract, as well as by the Regulations The issues of monetary incentives for on Monetary Incentives for Senior Managers of the General Director are managed by the JSC “OGK-6”. Regulations on Monetary Incentives for The system of senior managers’ bonuses is the General Director (Minutes No. 29 dd. based on meeting key performance indicators December 25, 2006) and Appendix No. 1 (KPI) for accounting periods (quarter and year). (Minutes No. 10 dd. October 17, 2008) Quarterly and yearly KPI, their values, methods approved by the Board of Directors. Bonuses for calculating indicators, and the procedure are awarded to the General Director for for calculating the amount of bonuses shall be meeting key performance indicators (quarterly approved by order of the General Director. and yearly) established annually by the The amount of quarterly bonuses subject Company’s Board of Directors, as well as for to meeting the set KPI values makes up to 1.5 performance of particularly important tasks, (one and a half) official salaries. The amount of state and industry awards, and execution of annual bonuses subject to meeting established tasks related to reforming the Company. KPI values is up to 12 (twelve) official salaries. If KPI and additional bonus requirements Management Board established by the order are met, the The Management Board is the collective Company’s General Director has the right to executive body of the Company which manages award additional bonuses to Senior Managers the Company’s day-to-day operations. The based on the Company’s performance for the Management Board is accountable to the accounting year in the amount of up to 6 (six) General Meeting of Shareholders and the official salaries. Company’s Board of Directors. Members A special bonus is established for Senior of the Management Board are appointed by Managers attaining a high indicator for the the Board of Directors. The Management Return on Equity KPI based on the Company’s Board is responsible for implementation performance for the accounting year (total of the Company’s objectives, strategy, and for all senior managers) in the amount of up policies. The General Director is the Chair to 1% of net Company profit. The resolution

of the Company’s Management Board. The regarding the payment and its amount is taken Structures and Principles of Corporate Governance activity of the Management Board is regulated by the Company’s General Director depending by the Charter and the Regulations on the on the contribution of the senior manager to Management Board. The Management Board the Company’s performance. Additionally, develops long-term plans for the main areas of the Regulations on Monetary Incentives for business and submits them for consideration Senior Managers provides for a single-time to the Board of Directors, previews, develops, bonus for particularly important tasks which and submits to the Board of Directors cannot exceed 6 (six) official salaries for a recommendations regarding specific issues single task; a bonus in the event of state and within the competence of the Board of industry awards; and a bonus for performance Directors, examines reports of Deputy General of reform-related tasks.

ОGК-6 2009 On September 21, 2007 JSC “OGK-6’s” and the Company’s employees specified by the Board of Directors approved JSC “OGK-6’s” General Director. The Company’s employees Options Program (Minutes No. 49 dd. entitled to participate in the Options Program September 21, 2007) which establishes the and the number of shares each employee procedure for granting the right to acquire may acquire are determined independently by JSC “OGK-6” shares to Options Program the General Director. The maximum number participants, as well as the procedure for of ordinary shares to be purchased by each Options Program participants to exercise their participant of the Options Program is limited right to acquire the Company’s shares at a as follows (within 2% of the total number of fixed price. Within the Options Program, a ordinary Company’s shares placed): General purchase and sale contract is concluded with Director — 0.3%; senior managers — 0.15%; 116 respect to JSC “OGK-6” shares between the employees — 0.05%. Options Program operating company and the No purchase and sale contracts of shares participant with a delayed transfer of share were made within the Options Program as of ownership and payment within 3 years from December 31, 2009. the date of signing the contract. The Options The table below presents the total amount of Program is unlimited and intended for the payments made to all persons that were members entire period of the Company’s activities. The of the Company’s Management Board including current number of ordinary shares distributed the Chair of the Management Board in 2009. within the Options Program is approved In 2009 the following changes to the annually by the Company’s Board of Directors Management Board took place: by proposal of the General Director. The total On July 9, 2009 the powers of the number of ordinary Company shares allotted Management Board member Gennady to the Options Program shall not exceed 2% of Felixovich Binko were terminated early. In June the total number of ordinary Company’s shares 2009, Gennady Felixovich Binko retired from placed. The purchase and sale price of shares his position of Deputy General Director for is defined as the average weighted price of Marketing and Sales at JSC “OGK-6” which he ordinary Company’s shares calculated as of the had held since the founding of the Company in date of conclusion of the contract for a period 2005 and joined Interregional Distribution Grid of 365 days prior to the date of conclusion of Companies Holding. On November 2, 2009, the contract according to JSC MICEX Stock Bary Zakievich Dolgoarshinnykh, the Chief Exchange data. Persons eligible for the Options Accountant at JSC “OGK-6” was elected as a Program include the General Director, Senior member of the Management Board (Minutes Managers (members of the Management No. 30 of the Meeting of the Board of Directors Board, Chief Accountant and Branch Manager) dd. November 2, 2009).

thousand rubles

Types of remuneration 2009

Salary 25,271 Structures and Principles of Corporate Governance Premiums 9,406

Bonuses 34,574

Employment termination payments 5,838

Total 75,089

ANNUAL REPORT Members of the Management Board:

Mityushov Alexey Alexandrovich

Year of birth: 1975 Education: Ustinov Baltic State Technical University, 1997

Employment for the past 5 years: 117 • 2010 — present JSC “OGK-2”, Chair of the Management Board, General Director • 2008 — present JSC “OGK-6”, Chair of the Management Board, General Director, Member of the Board of Directors • 2009 — present JSC “TGK-1”, Member of the Board of Directors • 2009 — present JSC Mosenergo, Member of the Board of Directors • 2009 — present JSC “OGK-2”, Member of the Board of Directors • 2009 — present JSC Salavatnefteorgsintez, Member of the Board of Directors • 2009 — present JSC Mezhregionenergogaz, Chair of the Board of Directors • 2009 — present JSC Mezhregionteploenergo, Chair of the Board of Directors • 2009 — present JSC Arkhoblenergogaz, Member of the Board of Directors • 2007 — present

LLC Gazpromenergo, General Director Structures and Principles of Corporate Governance • 2006 — present JSC Gazpromregiongaz, Member of the Board of Directors • 2003—2007 LLC Mezhregiongaz, Head of the Department for Property Management and Corporate Work • Owns no shares of JSC “OGK-6”.

ОGК-6 2009 Gudkov Dmitry Gennadyevich Year of birth: 1973 Education: Moscow State Engineering and Technical Institute (Technical University), Higher School of Economics, 1998.

Employment for the past 5 years: 118 • 2008 — present JSC “OGK-6”, Deputy General Director for Economics and Finance, Member of the Management Board • 2008 — September 2009 LLC Gazpromenergo, Deputy General Director for Economics • 2007—2008 LLC Gazpromenergo, Deputy General Director for Economics and Finance • 2002—2008 LLC Mezhregiongaz, Deputy Head of the Planning and Economics Department • Owns no shares of JSC “OGK-6”.

Gulyaev Valery Alexeevich Year of birth: 1957 Education: Vologda Polytechnical Institute, 1980, Rostov State Construction University, 1999.

Employment for the past 5 years: • 2005 — present JSC “OGK-6”, Deputy General Director for Procurement and Logistics, Member of the

Structures and Principles of Corporate Governance Management Board • 2001—2005 JSC SEUK, Director for Resources • Owns 0.0055% of the shares of JSC “OGK-6”.

ANNUAL REPORT Dolgoarshinnykh Bary Zakievich Year of birth: 1952 Education: Timiryazev Moscow Agricultural Academy, 1978

Employment for the past 5 years: • 2009 — present JSC “OGK-6”, Member of the Management Board 119 • 2005 — present JSC “OGK-6”, Chief Accountant • 2001—2005 JSC Ryazanskaya GRES, Chief Accountant • Owns 0.00085% of the shares of JSC “OGK-6”.

Dubenetsky Viktor Petrovich Year of birth: 1961 Education: Belarusian State University, 1986

Employment for the past 5 years: • 2005 — present JSC “OGK-6”, Deputy General Director, Member of the Management Board • 2002—2005

Ministry of Foreign Affairs of the Russian Structures and Principles of Corporate Governance Federation, 1st Secretary of the Second Department for CIS Countries • Owns no shares of JSC “OGK-6”.

ОGК-6 2009 Kolesnikov Alexander Stepanovich Year of birth: 1957 Education: Ordzhonikidze Moscow Aviation Institute, 1983

Employment for the past 5 years: • 2008 — present LLC DCT, Member of the Board of Directors 120 • 2005 — present JSC “OGK-6”, Deputy General Director for Corporate Governance and Personnel Management, Member of the Management Board • 2000—2005 JSC RAO “UES of Russia”, Head of the Department for Shareholder Relations of the Corporate Center • Owns no shares of JSC “OGK-6”.

Sizev Sergey Anatolyevich Year of birth: 1962 Education: Novosibirsk Electrotechnical Institute, 1987.

Employment for the past 5 years: • 2008 — present JSC “OGK-6”, Deputy General Director for Investments, Member of the Management Board

Structures and Principles of Corporate Governance • 2005—2008 JSC “OGK-6”, Deputy General Engineer — Head of the Production and Technical Department • 2004—2005 JSC Dalenergo, Deputy General Director • Owns no shares of JSC “OGK-6”.

ANNUAL REPORT Tatarinov Nikolay Alexandrovich Year of birth: 1959 Education: Krasnoyarsk Polytechnical Institute, 1981.

Employment for the past 5 years: • 2005 — present JSC “OGK-6”, Deputy General Director for Production — Chief Engineer, Member of the 121 Management Board • 2004—2005 CJSC Energoremont Production Unit, Technical Director — First Deputy General Director • 2003—2004 JSC KiGRES, Chief Engineer • Owns no shares of JSC “OGK-6”.

Audit Commission The remuneration paid to the Head of The Company’s Audit Commission is elected by the Audit Commission is increased by the General Shareholders’ Meeting to supervise 50%. Members of the Audit Commission the Company’s financial and economic are indemnified against expenses related activities. The Audit Commission is a collegial to participation in meetings of the Audit body of five persons. The Audit Commission’s Commission and audits as per the activities are regulated by the Charter and the indemnification rates for travel expenses in effect Provisions on the Audit Commission. at the time of meetings or audits. For participation in auditing financial and In 2009 members of the Audit Commission economic activities a member of the Audit were paid remuneration of: 328 thousand Commission is paid a lump-sum remuneration rubles. amounting to twenty-five minimum monthly From June 11, 2008 to June 7, 2009, the Audit base rates of a first category worker fixed by Commission elected by resolution of the Annual

the Industry Pay Rate Agreement as of the audit General Shareholders’ Meeting of JSC “OGK-6” Structures and Principles of Corporate Governance period adjusted in accordance with the Industry (Minutes No. 9 dd. June 11, 2008) operated in the Pay Rate Agreement. Company with the following membership: The remuneration indicated herein is paid • Margarita Ivanovna Mironova within a week upon drawing up a report on the • Alexey Vladimirovich Zavartsev results of the audit. • Evgeny Nikolaevich Zemlyanoy The procedure and deadlines for payment On June 8, 2009 the Annual General of bonuses are established by the Company’s Meeting of Shareholders of JSC “OGK-6” Board of Directors. (Minutes No. 10 dd. June 8, 2009) elected

ОGК-6 2009 the Company’s Audit Commission with the • 1998 — present following membership: CJSC YurBusinessCenter, General Director (holds two positions since 2003) Mironova • Owns no shares of JSC “OGK-6”. Margarita Ivanovna Year of birth: 1964 Zemlyanoy Education: Evgeny Nikolaevich Plekhanov Moscow Institute of the National Year of birth: 1985 Economy, Merchandising and Trading Non- Education: Food Products, 1985. Russian Correspondence Plekhanov Russian Economic Academy, Institute of Textile and Light Industry, Financial Management, 2007. Plekhanov Russian 122 Accounting, Monitoring and Analyzing Economic Academy, Jurisprudence, 2008. Economic Activity, 1993. Employment for the past 5 years: Employment for the past 5 years: • 2007 — present • 2005 — present JSC “GAZPROM”, Lead Specialist of the LLC Mezhregiongaz, Head of the Internal Department for Power Sector Development Audit Department • 2006—2006 • 2003—2005 CJSC BDO Unicon Consultant JSC “GAZPROM”, Head of the Office — • 2003—2005 Deputy Head of the Department, First Deputy LLC Art Creation, Financial Director Head of the Internal Audit Department • Owns no shares of JSC “OGK-6”. • Owns no shares of JSC “OGK-6”. Zakharova Bulgakova Irina Nikolayevna Marina Vladilenovna Year of birth: 1965 Year of birth: 1971 Education: Education: Leningrad Order of the Red Banner of Labor Hertzen State Pedagogical University (Saint Institute of Soviet Trade, Economist, 1990. Petersburg), Teacher (Natural Science and Saint Petersburg State Engineering and Mathematics), 1993. State University — Higher Economics University, State and Municipal School of Economics, Lawyer, 2000. Administration, 2005. The Association of Further Professional Education, A.F. Konto Employment for the past 5 years: Academic Center, Customs Registration • 2009—2009 Manager, 2008. LLC Gazprom Energyholding, Head of the Corporate Policy Department Employment for the past 5 years: • 2008—2009 • 2008 — present LLC Metropol Development — Metropol LLC Gazprom Energyholding, Chief Group, Deputy General Director for Accountant Corporate Management • 2008—2008

Structures and Principles of Corporate Governance • 2004—2008 CJSC Gas-Oil, Deputy General Director for JSC MMTS 9, Advisor to the General Director Financial Issues and Economic Development for Corporate Management Issues • 2007—2008 • 2003—2008 JSC Proletarsky Zavod, Head of the Section JSC Rostelekom, Deputy Head of the for Foreign Economic Activity and Advertizing Department for Corporate Control — Head • 2006—2007 of the Section for Managing Subsidiary and LLC VOLGA — NEVA, Deputy General Dependent Companies Director for Finance

ANNUAL REPORT • 2002—2005 a contract concluded with the former. The Financial Administration of Schlisselburg amount of payment for the services of the Municipal Entity in the Leningrad Region, Auditor is determined by the Company’s Board Head of the Finance Department of Directors. The Company’s Auditor audits the • Owns no shares of JSC “OGK-6”. Company’s financial and economic activity in accordance with the requirements of Russian Naryshkina legislation and on the basis of a contract Lyudmila Nikolaevna concluded with the former. Year of birth: 1959 By resolution of the Annual General Education: Shareholders’ Meeting of JSC “OGK-6” Moscow Mining Institute. Systems Analyst, (Minutes No. 9 dd. June 11, 2008) Closed 1984. Moscow Institute of Economics and Joint Stock Company KPMG was appointed 123 Law, Corporate Lawyer, 1998. E. Dashkova the Company’s Auditor on June 11, 2008. On Moscow Institute for the Humanities, June 8, 2009, the Annual General Shareholders’ Teacher of a Higher Institute of Education, Meeting of JSC “OGK-6” appointed KPMG as 2006. Lomonosov Moscow State University, the Company’s Auditor again. (Minutes No. 10 Accounting, Statistics, Audit, Doctor of dd. June 8, 2009). Economic Sciences, 2006. The payment for the services of the Auditor for 2009 was 13,595,960 rubles, Employment for the past 5 years: which was for: • 2009 — present • auditing financial statements prepared in LLC Gazprom Energyholding, Head accordance with the requirements of Russian of the Section for Internal Audits and legislation (Russian Accounting Standards) Comprehensive Inspections for 2008 — 885,000 rubles • 1999—2009 • auditing financial statements prepared in CJSC Balance-de-facto, General Director accordance with the International Financial • Owns no shares of JSC “OGK-6”. Reporting Standards (IFRS) for 2008 — 2,879,200 rubles • for auditing financial statements prepared in Auditor accordance with the requirements of Russian The Company’s Auditor is approved annually legislation for 2009 — 5,380,800 rubles by the General Shareholders’ Meeting to • for auditing financial statements prepared in audit the Company’s financial and economic accordance with the International Financial activities in accordance with legal regulations Reporting Standards (IFRS) for 2009 — of the Russian Federation on the basis of 4,450,960 rubles. Structures and Principles of Corporate Governance

ОGК-6 2009 the power of inspiration 8 Our Team

8.1. Personnel Structure 8.2. Remuneration 8.3. Pension Program

Sometimes just the opportunity to do something good provides enough inspiration to see it through to the end. 8

Our Team

126

JSC “OGK-6’s” main aim of HR policy is • improving the organizational structure of Personnel Structure by Branches and to build and maintain the efficiency of the executive bodies and Company branches; Executive office of the Company as Company’s core resource — its employees. • ensuring stable social and work relations of December 31, 2009 The main aims of HR policy in 2009: when holding events for optimizing the 24% • providing a competitive level of worker salary number of personnel. and social benefits and guarantees; 4% 26% • securing personnel to key positions and 8.1. Personnel Structure 11% occupations; A total of 5,427 persons were employed at • working with reserve staff on lead specialist JSC “OGK-6” as of December 31, 2009. This and management positions; included 709 managers, 1,292 specialists, 58 • increasing personnel quality by reaching office workers and 3,368 workers. competitive targets (optimal number of In 2009, the total number of personnel 16% personnel, optimal personnel category ratio: decreased by 839 persons. 19% workers, specialists, managers, optimal The primary cause for this reduction was the age makeup, optimal level of personnel outsourcing of subdivisions which carry out turnover, optimal selection of employees by the functions of accounting, tax calculation, Ryazanskaya GRES professional level and education.) information technology, repair and vehicle Novocherkasskaya GRES The main tasks in 2010: maintenance. Kirishskaya GRES • evaluating the work performance of In 2009, the share of employees aged up personnel at the Company’s branches; to 30 years old was 16.6%, and the share of Krasnoyarskaya GRES-2 • implementing new personnel incentive working pensioners was 6.6%. This meant that in Cherepovetskaya GRES schemes aimed at achieving key 2008, JSC “OGK-6” had experienced and well- Executive Office performance indicators; established as well as prospective personnel.

Changes in Total Number of Company Branch Total Number of Employees Personnel in 2007—2009 Ryazanskaya GRES 1,444 6,406 6,266 Our Team Novocherkasskaya GRES 1,298 5,427 Kirishskaya GRES 872

Krasnoyarskaya GRES-2 1,020

Cherepovetskaya GRES 586

Executive Office 207

TOTAL for OGK-6 5,427

2007 2008 2009

ANNUAL REPORT Education Level In 2010, special emphasis will be placed on Personnel according to Category as of In 2009, the education level of Company training reserve staff and advanced training of December 31, 2009 personnel continued to grow: the share of employees. 1.1% employees with higher education increased 15.1% by 3.1% from 36.7% in 2008 to 39.8 % in 8.2. Remuneration 2009. The amount of funds spent on labor 25.8% of the Company’s employees have remuneration was 2,821.5 million rubles, an vocational education. In 2009, their share increase of 5.7% versus 2008. The amount of increased by 0.8% in comparison with 2008. funds spent on social payments stipulated by The Company’s management recognizes the Branches’ collective labor contracts and 21.7% the importance of continuous education and the Regulations on Benefits, Guarantees and 62.2% further training of staff. In 2009, expenses Remuneration of the Executive Employees 127 on educating and retraining personnel totaled in 2009 was 190.9 million rubles, an 8.8% Workers Office workers 21,653,11 thousand rubles. In 2009, the share increase in comparison with 2008. Specialists Managers of personnel trained and retrained with a break In 2009, the average monthly salary of from work was 43.58% of the total number of employees at the Company’s branches (GRES) the Company’s personnel, including 44.54% was 32,728 rubles, which is 13.8% higher Age Profile of Personnel as of December of the executive body. In 2009, the share of than in 2008. The growth of average monthly 31, 2009 employees that underwent further training salary at the Company’s branches is explained reduced by 2.2%. by the growth of the minimum monthly base 16.6% In accordance with the contracts concluded rate of a first-category worker which is the between the Company and its personnel, 54 basis for increasing the salaries (base rates) of employees of the branches study at higher Company workers. On average, the change to and vocational educational institutions, the minimum monthly base rate was 14.8% in including 13 specialists and office workers accordance with the letters from the Employers’ and 41 workers. 1,727.6 thousand rubles were Association of Electric Power and the Electric 6.6% spent on this. Power Trade Union (Electrounion). 76.8% In 2009, the schedule for introducing the The growth in average salary in 2009 at SO-UPS-PP-1-2005 Standard for training, the Company’s branches was equal for all From 30 to retirement age retraining and further qualification of personnel categories of personnel. Up to 30 years at JSC “OGK-6” continued to be implemented. Working pensioners

Personnel Category Dynamics of Change in the Share of Employ- Category December 31, 2007 December 31, 2008 December 31, 2009 ees with Higher Education and Vocational Managers 913 911 821 Education in the Company’s Branches in 2007—2009, % Specialists 1,377 1,376 1,180 39.8

Office workers 56 55 57 36.7 35.5 Workers 4,060 3,924 3,369 Our Team

Age Profile of Personnel 25.7 25 25.8

December 31, 2007 December 31, 2008 December 31, 2009

Up to 30 years old 1,100 1,086 903 2007 2008 2009 From 30 to retirement age 4,921 4,782 4,167 Higher education Working pensioners 385 398 357 Vocational educational

ОGК-6 2009 Branches of “OGK-6” Average Monthly Salary of Workers, in rubles A total of persons 2007 2008 2009 5,427 Ryazanskaya GRES 22,062 27,344 29,679 were employed at JSC “OGK-6” as of Novocherkasskaya GRES 21,897 26,022 28,647 December 31, 2009. Kirishskaya GRES 26,830 31,673 34,923 Krasnoyarskaya GRES-2 28,831 34,749 42,954 Cherepovetskaya GRES 21,000 23,750 28,942 GRES-24 25,320 30,636 —

128 Total 24,098 28,766 32,728

Personnel Category Average Monthly Salary of Workers, in rubles 2008 2009 % growth

Managers 47,586 54,853 15.3 Specialists 29,136 32,923 13.0 and technical operators Workers 22,838 26,382 15.5 Total 28,766 32,728 13.8

Personnel Motivation System indicators (KPI). On average, payment of In 2009, the average monthly salary of One of the Company’s key tasks with regard bonuses makes up 70% of total remuneration. employees at the Company’s branches to human resources is forming a motivated (GRES) was staff and attracting young specialists to Collective Labor Contract rubles. the Company who are capable of efficiently At JSC “OGK-6”, the Commission for accomplishing the tasks it faces. Regulating Social and Labor Relations 32,728 The personnel motivation system is set forth (CRSLR) has been operating continuously in the Regulations on Salaries and Incentives since 2006. The Commission consists of five for the Personnel of the Company Branches, in employee representatives and five employer the Salaries section of the Branches’ collective representatives. labor contracts and in the Regulations on The main task of the CRSLR is approving Salaries and Incentives for the Personnel of collective labor contracts of JSC “OGK-6” Executive Branches. branches and also resolving issues concerning It is based on a single, standard approach the prevention of social tension in the teams of for all branches and specifies the methods, the JSC “OGK-6” branches.

Our Team principles and approaches for providing In 2009 at JSC “OGK-6” collective labor incentives for all categories of employees. contracts of the branches based on a single The personnel remuneration system is approach were approved and are in force. On average, payment of bonuses makes up aimed at increasing employee loyalty to the They take into account the basic principles of total remuneration. Company and also increasing employee’s for benefits, guarantees and remuneration performance. which are specified in the Industry Pay Rate 70% Increased labor efficiency is attained by Agreement in the Electrical Power Sector for the bonus part of the remuneration linked 2009-2011. The collective labor contracts with achievement of fixed targets which are of the JSC “OGK-6” branches are valid from connected with approved key performance January 1, 2009 to December 31, 2011.

ANNUAL REPORT 8.3. Pension Program The structure of the NPP for employees of In order to ensure social security of the JSC “OGK-6” includes corporate and parity Company’s employees and veteran employees, programs. Non-governmental Pension Programs (NPPs) The corporate plan embodies pension are drawn up annually in accordance with programs in the context of which the Company the principles contained in the strategy of arranges additional NPPs for its employees the nongovernmental pension plan for the using internal funds on the basis of the Company’s employees. respective Regulations on the NPP and the NPP The non-governmental pension program contract concluded with the non-governmental for employees of JSC “OGK-6” is designed pension fund. 76% of the Company’s to provide an adequate quality of life for the employees are NPP participants. Company’s employees of retirement age The parity plan is based on the principle that 129 and to efficiently resolve staff issues related employee and employer are able to finance to attraction, retention and motivation of the NPP for the employee jointly and in equal personnel. The base non-governmental proportions. pension fund for realization of the NPP for In 2009, the total amount of financing of employees of JSC “OGK-6” is the Non- all the Company’s joint accounts opened with governmental Pension Fund of the Power the NPFPI and its branches was 142.9 million Industry (NPFPI). rubles. Our Team

ОGК-6 2009 the power of joy 9 Environmental Protection

9.1. Environmental Protection Actions 9.2. Air Emissions of Pollutants 9.3. Waste Formation and Storage 9.4. Water Consumption

The secret of happiness is very simple. Everything that you do should bring you joy. 9

Environmental Protection

132

Environmental protection is one of the formed as a result of plant operation and Payment for Allowed Discharge (Emissions) priorities of all industries, especially the dispose of it. Environmental actions of OGK-6 in 2009 electrical power industry. We know that comply with all the Russian environmental electricity generation at thermoelectric legislation requirements. 31% power plants has a significant impact on the environment (air, water and soil) due to 9.1. Environmental Protection formation of pollutants. In general, several Actions types of heat generation impact on the In 2009, the following actions were taken to environment can be singled out: reduce air emissions of pollutants, discharge • air emissions of pollutants (including of pollutants into bodies of water and manage 3% greenhouse gases); hazardous waste: 66% • waste formation (including ash and slag); • discharge of pollutants into bodies of water. Krasnoyarskaya GRES-2 Waste disposal In 2009, 1,417 thousand tons of waste were In 2009, the branch’s water protection zone Air emissions formed as a result of JSC “OGK-6’s” activities, was cleaned. In 2009, the internal cyclone or 22.3% less than in 2008. In addition to this, elements of ash collectors of boilers No. 1А, Water discharge 869 million m3 of water was used, or 14% less 1B, 6А, and 6B were repaired to reduce air than in 2008. emissions of inorganic dust (70—20%). In 2009, environmental protection expenses made up 162,886 thousand rubles, or 21% less 9.2. Air Emissions of Pollutants than in 2008. The total volume of pollutants treated in In 2009, thousand In accordance with environmental policy, the 2009 made up 1,319 thousand tons, or 370 Company constantly monitors the environment thousand tons (22%) less than in 2008. 1,225 1,417 and carries out actions to neutralize waste thousand tons of pollutants were collected and tons of waste were formed as a result of JSC “OGK-6’s” activities, or 22.3% less than in 2008.

thousand rubles

Environmental Protection 2007 2008 2009 Water discharge 3,119 2,778 1,744 Air emissions 15,905 21,962 19,410 Waste disposal 40,970 43,938 41,779 Total 59,994 68,678 62,933

ANNUAL REPORT neutralized, 355 thousand tons less than in pollutants formed as a result of the operation Every JSC “OGK-6” plant neutralizes no 2008 (a 22% decrease). of these plants mainly contain sulfur dioxide less than

Every JSC “OGK-6” plant neutralizes no less (SO2), carbon monoxide (СО) and nitric than 90% of pollutants treated. oxides which are impossible to neutralize Due to the fact that Kirishskaya GRES since at present no such procedures have 90% and GRES-24 use gas as a primary fuel, been developed. of pollutants treated.

Dynamics of Collecting and Neutralizing Air Pollutants, tons

Index Total Treated Pollutants Collected Share of neutralized Pollutants and Neutralized pollutants, % 133 2007 2008 2009 2007 2008 2009 2007 2008 2009 ОGK-6, total 1,536,206 1,689,905 1,319,763 1,325,936 1,580,785 1,225,6060 86 94 93 Ryazanskaya GRES 323,860 334,751 208,564 280,818 321,829 201,077 87 96 96 Novocherkasskaya GRES 713,306 806,917 795,593 628,388 755,665 734,755 88 94 92 Kirishskaya GRES 7,030 0 0 0 0 0 0 0 0 Krasnoyarskaya GRES-2 291,009 375,724 235,853 241,246 348,152 218,397 83 93 93 Cherepovetskaya GRES 200,298 172,519 79,750 175,482 155,139 71,377 88 90 90

Dynamics of Air Emissions of Pollutants, tons Dynamics of Greenhouse Gas Emissions in 2007—2009, thousand tons Plant name Total Air Emissions of Pollutants 2007 2008 2009 329 ОGK-6, total 210,231 264,254 183,758 11,324 221 Ryazanskaya GRES 43,042 47,603 29,766 11,677 143 9,003 Novocherkasskaya GRES 84,916 101,302 93,758 19,687 Kirishskaya GRES 7,030 4,032 3,566 14,129 Krasnoyarskaya GRES-2 49,762 88,125 44,415 11,497 Cherepovetskaya GRES 24,815 23,190 12,251

2007 2008 2009

From burning fuel oil From burning gas Dynamics of Greenhouse Gas Emissions, thousand tons From burning coal Environmental Protection Plant name 2007 2008 2009 2009 vs. 2008, % ОGK-6, total 23,390 31,341 24,129 – 23 Ryazanskaya GRES 6,269 7,245 4,982 - 31 Novocherkasskaya GRES 3,899 11,936 8,505 - 29 Kirishskaya GRES 4,146 2,911 3,245 + 11 Krasnoyarskaya GRES-2 5,321 6,692 5,641 - 16 Cherepovetskaya GRES 2,700 2,557 1,751 - 32

ОGК-6 2009 9.3. Waste Formation and Storage Some branches of JSC “OGK-6” use water Dynamics of Waste Formation In 2009, 1,489 thousand tons of waste were recycling elements: in 2007—2009, thousand tons formed in the process of electricity and heat • At Novocherkasskaya GRES, water can be 1,903 generation, or 22% less than in 2008. The discharged from an offtake to an intake largest share of waste is comprised of ash and channel using special flushing valves. 1,489 slag formed during coal burning. This waste is This method is actively used when the 1,373 stored in special dumps. temperature is low. In 2009, waste disposal costs made up • At the Kirishkaya GRES, two water cooling 41,779 thousand rubles. The largest share towers were installed in the water supply of waste was formed at Novocherkasskaya system for power units Nos.5 and 6. GRES branch of JSC “OGK-6” (around 911 It is possible to reduce the amounts of 134 thousand tons). water tax charged for industrial water supply The transfer from storing ash and slag waste of the branches by increasing the share of to selling it as dry ash and as ash and slag to recycled water with the help of organizing be delivered from the current storages is a the recirculation of industrial water from the potential area for reducing waste disposal costs. outlet channel to the inlet channel and also 2007 2008 2009 If the market for consuming and using potential the recirculation of industrial water around the methods for ash and slag recycling develops in circulation pumps. The reduction of specific the proper manner, it will be possible to stop water consumption (m3/MW) is also possible building ash and slag dumps and gradually close by optimizing the technological modes for In 2009, thousand and recultivate the existing dumps and then use using cooled water depending on the loads of them for production purposes. power units. 1,489 The methods for reducing water usage costs tons of waste were formed in the process of 9.4. Water Consumption at branches of JSC “OGK-6” are: electricity and heat generation, or 22% less In 2009, the volume of water consumption than in 2008. for production needs made up 2,931 million Ryazanskaya GRES m3, this includes a total of 398 million m3 of Currently the reduction of water usage costs is recycled water. not feasible at Ryazanskaya GRES due to the The plants of JSC “OGK-6” (except RGRES) water recycling system it employs. use a once-through water supply system, meaning that cooled water is discharged into Novocherkasskaya GRES a natural body of water and can not be reused. The plant has a channel for recirculating Under this water consumption system, industrial water from the outlet channel to payments are calculated based on the water the inlet channel. Optimal management of intake amount multiplied by the water tax rate. technological modes has been achieved (the In 2009, water payments totaled 739,256.7 lowest figures for specific water consumption). thousand rubles. For generating companies, The most promising area is organizing water costs are determined by the share of recirculation of industrial water around the recycled water supply in the general water circulation pumps in order to reduce the supply system of the Company. The larger this consumption of industrial water when low- share, the smaller the costs are. loads are employed, especially at night. Environmental Protection

ANNUAL REPORT Kirishskaya GRES of water around circulation pumps. Dynamics of Water Consumption In the short-term, the main method is Work is being performed to optimize the in 2007—2009, million m3 organizing recirculation of industrial water technological modes of water consumption 3,323 around the circulation pumps and optimizing during unloading of equipment. 3,142 technological modes for reducing specific 2,931 water consumption. In the long-term, the main Cherepovetskaya GRES method is increasing the amount of recycled A project has been developed to recirculate water by using existing cooling towers. industrial water from the outlet channel to the inlet channel. 2010 has been set as the Krasnoyarskaya GRES-2 project implementation date. In addition to this, The plant can use all three methods for in 2010 it is planned to equip all circulation reducing water tax. In 2010 it is planned to pumps with recirculation systems. The first 135 develop a channel for recirculating industrial power unit of the plant has already been water from the outlet channel to the inlet equipped with such a system that has been channel and organize the recirculation tested and displayed positive results. 2007 2008 2009 Environmental Protection

ОGК-6 2009 the power of enthusiasm 10 Financial Statements

10.1. Audit Report for 2009 Statements in Accordance with Russian Accounting Standards (RAS) 10.2. The Company’s 2009 Financial Statements in Accordance with Russian Accounting Standards (RAS) 10.3. Audit Report for 2009 Financial Statements in Accordance with International Financial Reporting Standards (IFRS) 10.4. The Company’s 2009 Financial Statements in Accordance with International Financial Reporting Standards (IFRS)

The desire to be better helps us to improve. Only the most challenging goals are really worth the effort. 10

Financial Statements

138

10.1. Audit Report for 2009 Statements in Accordance with Russian Accounting Standards The text of the audit report of ZAO KPMG on the financial statements of JSC “OGK-6” for 2009 is presented below. The said financial statements are not included in this annual report. Hence, all references to the attached financial statements pertain to documents not presented herein. This audit report is only applicable to the 2009 financial statements of JSC “OGK-6”. A copy of the audit report and the financial statements of JSC “OGK-6” for 2009 in Russian are posted in electronic form on the JSC “OGK-6” website (www.ogk6.ru) in the Shareholders and Investors Section. Financial Statements

ANNUAL REPORT 139 Financial Statements

ОGК-6 2009 10.2. The Company’s 2009 Financial Statements in Accordance with Russian Accounting Standards

BALANCE SHEET As of December 31, 2009

Codes Form No. 1 for All- Russian Classifier of Management 0710001 Documentation

Date (day, month, year) 31 12 2009 All-Russian Classifier 140 Company: Open Joint-Stock Company “The Sixth Wholesale Power Market Generating of Businesses and 76 928 058 Company” Organizations 6164 232 756 Taxpayer Identification Number Taxpayer ID All-Russian Classifier 40.10.11 Type of activity: Generation of electricity using thermoelectric power stations of Economic Activities

Organizational and legal form / form of ownership All-Russian Classifier of Legal Forms/All- Russian Classifier of 47 41 Open Joint-Stock Company Forms of Ownership All-Russian Classifier 384 Measurement unit: thousand rubles of Measurement Units

Location (address): 101/3 Prospekt Vernadskogo, Moscow, 119526 Date of approval — — Date of sending (acceptance) — ASSETS Code As of the Reporting As of the Reporting Year Start Year End

1 2 3 4 I. Non-current assets

Intangible assets 110 1,312 21,471 Fixed assets 120 16,096,085 17,453,384

including:

land plots and natural resources sites 121 29,601 30,941 buildings, facilities, plant and equipment 122 15,884,571 17,228,536 Construction in progress 130 4,996,885 15,167,780

Financial Statements Interest-bearing investments in tangible assets 135 — — Long-term financial investments 140 80,071 102,035 including: investments in subsidiaries 141 48,712 48,712 investments in other companies 143 27,137 51,333 Deferred tax assets 145 163,787 136,885 Other non-current assets 150 395,717 377,313 Total for Section I 190 21,733,857 33,258,868

ANNUAL REPORT Form 0710001с.2 ASSETS Code As of the Reporting As of the Reporting Year Start Year End 1 2 3 4 II. Current assets

Reserves 210 4,711,450 3,338,859

including:

raw materials, materials and other similar assets 211 4,656,611 3,291,091

livestock 212 — — 141 WIP costs 213 1,085 1,730

finished goods and goods for resale 214 1,902 1,693

shipped goods 215 5 5

prepaid expenses 216 51,847 44,340

other inventories and costs 217 — —

VAT on acquired assets 220 97,243 13,084

Accounts receivable (payment expected over 12 months after the reporting date) 230 4,359,527 1,380,905

including:

buyers and customers 231 141,267 76,730

notes receivable 232 593 593

advances made 234 4,177,797 1,274,321

other debtors 235 39,870 29,261

Accounts receivable (payment expected within 12 months after the reporting date) 240 8,946,147 9,141,192

including:

buyers and customers 241 1,144,273 2,351,727

notes receivable 242 25,500 140,668

advances made 245 6,838,526 5,790,302

other debtors 246 937,848 858,495

Short-term financial investments 250 4,068,906 1,535,643

loans issued to companies for a period of less than 12 months 251 — —

Cash 260 215,014 78,985 Financial Statements including:

cash on hand 261 154 111

settlement accounts 262 198,415 48,210

other cash 264 16,445 30,664

Other current assets 270 702 601

Total for Section II 290 22,398,989 15,489,269

BALANCE 300 44,132,846 48,748,137

ОGК-6 2009 Form 0710001с.3 LIABILITIES Code As of the Reporting As of the Reporting Year Start Year End

1 2 3 4 III. Capital and reserves Share capital 410 15,497,760 15,497,760 Own shares acquired from shareholders 411 — — Capital surplus 420 22,169,898 22,169,855

142 Reserve capital 430 291,026 331,274 including: reserves generated under applicable law 431 — — reserves generated under the constituent documents 432 291,026 331,274 Retained earnings (uncovered loss) 470 (2,470,033) 302,861 Total for Section III 490 35,488,651 38,301,750 IV. Long-term liabilities Loans and credits 510 2,923,677 4,926,005 Credits from banks for which repayment is expected over 12 months after the reporting 511 49,541 2,051,869 date Loans for which repayment is expected over 12 months after the reporting date 512 2,874,136 2,874,136 Deferred tax assets 515 200,879 123,135

Other long-term liabilities 520 27,074 769,259

Total for Section IV 590 3,151,630 5,818,399 V. Short-term liabilities Loans and credits 610 41,299 64,793 current portion of long-term credits and loans 613 41,299 64,793 Accounts payable 620 5,429,229 4,548,748 including: suppliers and contractors 621 3,584,603 2,409,388 salaries payable 622 122,475 117,826 payables to state non-budgetary funds 623 18,076 15,342 taxes and duties payable 624 213,609 503,903 other payables, including: 625 1,490,466 1,502,289

Financial Statements advances received 627 1,274,161 1,320,973 other creditors 628 216,305 181,316 Dividends payable to shareholders (founders) 630 14,130 7,111 Deferred income 640 7,899 7,336 Provisions 650 — — Other short-term liabilities 660 8 — Total for Section V 690 5,492,565 4,627,988 BALANCE 700 44,132,846 48,748,137

ANNUAL REPORT Form 0710001с.4 OFF-BALANCE SHEET ASSETS Item name Code As of the Reporting As of the Reporting Year Start Year End

1 2 3 4

Leased fixed assets 910 4,884,365 3,201,093

including leasing 911 157,020 204,696

Inventories under custody 920 125,543 464,551

Materials accepted for processing 921 — — 143 Goods taken on commission 930 — —

Equipment accepted for installation 931 — —

Bad debt write-off 940 3,295,588 356,578

Expenses for construction contracts incurred during the period from commencement of 946 — — the contract.

Securities received 950 4,519,019 3,702,155

Securities issued 960 2,725,000 2,725,000

Housing depreciation 970 3,105 3,090

Depreciation of land improvement facilities and other similar facilities 980 6,287 6,287

Obtained intangible assets 990 3,318 56,283

Pledged cost of revenue from export contracts 999 — — Financial Statements

ОGК-6 2009 PROFIT AND LOSS STATEMENT FOR 2009

CODE Form No. 2 for All-Russian Classifier of Management Documentation 0710002 Date (day, month, year) 31 12 2009 Company: Open Joint-Stock Company “The Sixth Wholesale Power Market Generating All-Russian Classifier of Businesses Company” and Organizations 76 928 058

144 Taxpayer Identification Number Taxpayer ID 6164 232 756 All-Russian Classifier of Economic Type of activity: Generation of electricity using thermoelectric power stations Activities 40.10.11 Organizational and legal form / form of ownership All-Russian Classifier of Legal Forms/All-Russian Classifier of Open Joint-Stock Company Forms of Ownership 47 41 All-Russian Classifier of Measurement unit: thousand rubles Measurement Units 384 Item, name Code For the Reporting For the Same Period of Period the Previous year 1 2 3 4 Income and expenses for ordinary activities Net revenues from sale of goods, products, works and services (excluding VAT, excise tax and 10 41,870,322 42,275,050 similar mandatory payments) including from sales of: electric power 11 26,392,376 29,028,842 capacity 12 12,812,380 10,849,771 heat power 13 2,223,005 2,036,637 other goods 14 253,233 207,577 leasing property 15 125,143 83,946 other works and services 16 64,185 68,277 Cost of sold goods, works and services 20 (34,154,369) (37,781,533) including sales of: electric power 21 (22,149,450) (27,406,483) capacity 22 (9,987,581) (8,547,256) heat power 23 (1,653,579) (1,541,915) other goods 24 (255,113) (183,243) leasing property 25 (37,714) (37,793) Financial Statements other works and services 26 (70,932) (64,843) Gross profit 29 7,715,953 4,493,517 Selling and marketing costs 30 (44,380) (34,501) General and administrative expenses 40 (2,591,342) (2,921,366) Sales profit/loss 50 5,080,231 1,537,650 Other income and expenses Interest receivable 60 349,169 829,010 Interest payable 70 (286,825) (293,781) Other income 105 725,694 306,224

ANNUAL REPORT Other expenses 110 (2,001,382) (1,438,332) Form 0710002 с.2 Item, name Code For the Reporting For the Same Period of Period the Previous year 1 2 3 4

Profit/loss before tax 140 3,866,887 940,771

Deferred tax assets 141 22,233 (59,681)

Deferred tax assets 142 (4,011) (7,974)

Current income tax 150 (1,021,810) (589,786) 145 Income tax from previous years 153 (141,941) 513,799

Other expenses from profit 156 91,741 7,825

Net profit/loss for the reporting period 190 2,813,099 804,954

FOR REFERENCE

Permanent tax liabilities (assets) 200 230,211 431,656

Basic earnings/losses per share 201 0.087 0.025

Diluted earnings/losses per share 202 — —

JSC “OGK-6” management obtained the above information from the full set of the Company’s financial statements for 2009. The Annual Report does not include the above financial statements in full. A full copy of the Company’s financial statements in accordance with the Russian Accounting Standards is posted on the JSC “OGK-6” website (www.ogk6.ru) in the Shareholders and Investors Information Section. Financial Statements

ОGК-6 2009 10.3. Audit Report for 2009 State- in equity and consolidated statement of cash statements. The procedures selected ments in Accordance with Interna- flows for the year then ended, and a summary depend on the auditor’s judgment, including tional Financial Reporting Stan- of significant accounting policies and other the assessment of the risks of material dards explanatory notes. misstatement of the consolidated financial The text of the audit report of ZAO KPMG on statements, whether due to fraud or error. In the financial statements of JSC “OGK-6” for Management’s Responsibility for the making those risk assessments, the auditor 2009 is presented below. The report was drawn Consolidated Financial Statements considers internal control relevant to the up in accordance with International Financial Management is responsible for the preparation entity’s preparation and fair presentation of the Reporting Standards. This audit report is only and fair presentation of these consolidated consolidated financial statements in order to applicable to the 2009 consolidated financial financial statements in accordance with design audit procedures that are appropriate statements of JSC “OGK-6” in accordance with International Financial Reporting Standards. in the circumstances, but not for the purpose 146 International Financial Reporting Standards. This responsibility includes: designing, of expressing an opinion on the effectiveness The said audit report and financial statements implementing and maintaining internal control of the entity’s internal control. An audit also were drawn up in English and are not included relevant to the preparation and fair presentation includes evaluating the appropriateness in this annual report. A copy of the audit report of consolidated financial statements that are of accounting principles used and the and the consolidated financial statements of free from material misstatements, whether reasonableness of accounting estimates JSC “OGK-6” for 2009 in accordance with due to fraud or error; selecting and applying made by management, as well as evaluating International Financial Reporting Standards in appropriate accounting policies; and making the overall presentation of the consolidated English and a Russian translation are posted in accounting estimates that are reasonable in the financial statements. electronic form on the JSC “OGK-6” website circumstances. We believe that the audit evidence we have (www.ogk6.ru) in the Shareholders and obtained is sufficient and appropriate to provide Investors Section. Auditors’ Responsibility a basis for our opinion. Our responsibility is to express an opinion Independent Auditors’ Report on these consolidated financial statements Opinion To the Board of Directors of Open Joint Stock based on our audit. We conducted our In our opinion, the consolidated financial Company “The Sixth Wholesale Power Market audit in accordance with International statements present fairly, in all material Generating Company” (JSC “OGK-6”) Standards on Auditing. Those standards respects, the consolidated financial position We have audited the accompanying require that we comply with relevant ethical of the Group as of 31 December, 2009 and consolidated financial statements of requirements and plan and perform the audit its consolidated financial performance and its JSC “OGK-6” (the “Company”) and its to obtain reasonable assurance whether the consolidated cash flows for the year then ended subsidiaries (the “Group”), which comprise consolidated financial statements are free of in accordance with International Financial the consolidated statement of financial material misstatement. Reporting Standards. position as of 31 December, 2009 and the An audit involves performing procedures consolidated statement of comprehensive to obtain audit evidence about the amounts ZAO KPMG income, consolidated statement of changes and disclosures in the consolidated financial 14 April 2010 Financial Statements

ANNUAL REPORT 10.4. The Company’s 2009 Financial Statements in Accordance with International Financial Reporting Standards (IFRS)

Consolidated Statement of Financial Position as of 31 December 2009

Notes 31 December 2009 31 December 2008 thousand rubles thousand rubles ASSETS Non‑current assets Property, plant and equipment 5 61,867,198 53,751,322

Other non-current assets 6 805,098 1,253,464 147 Total non‑current assets 62,672,296 55,004,786

Current assets Inventories 7 3,225,580 4,585,801 Short-term investments 8 417,120 3,901,413 Income tax receivable 7,373 413,818 Other current assets 51,201 92,490 Receivables and prepayments 9 4,852,229 3,799,135 Cash and cash equivalents 10 1,197,075 215,014 Total current assets 9,750,578 13,007,671 TOTAL ASSETS 72,422,874 68,012,457

EQUITY AND LIABILITIES

Equity Share capital 11 15,497,760 15,497,760 Revaluation reserve 13,341,701 13,401,156 Share premium 18,339,193 18,339,193 Retained earnings 8,274,549 5,803,100 Total equity 55,453,203 53,041,209

Non-current liabilities Deferred income tax liabilities 13 5,648,016 5,755,707 Loans and borrowings 12 4,937,610 2,923,677 Employee benefits 14 824,703 722,118 Other non-current liabilities 776,593 34,972

Total non-current liabilities 12,186,922 9,436,474 Financial Statements

Current liabilities Loans and borrowings 12 37,567 — Accounts payable and accrued charges 15 4,203,947 5,298,648 Taxes payable 541,235 236,126 Total current liabilities 4,782,749 5,534,774 Total liabilities 16,969,671 14,971,248 TOTAL LIABILITIES AND EQUITY 72,422,874 68,012,457

ОGК-6 2009 Consolidated Statement of Comprehensive Income for the year ended 31 December 2009

Notes 2009 2008 thousand rubles thousand rubles

Revenues 16 41,870,322 42,275,050

Operating expenses 17 (38,470,645) (44,687,693)

Other income/(expenses) 32,328 (155,796)

Operating profit /(loss) 3,432,005 (2,568,439)

Finance income 18 384,329 829,010 148 Finance expenses 18 (310,450) (357,907)

Profit/(loss) before income tax 3,505,884 (2,097,336)

Income tax (expense)/benefit 13 (1,063,626) 1,267,933

Profit/(loss) for the year 2,442,258 (829,403)

Other comprehensive income

Revaluation of property, plant and equipment — 16,751,445

Change in fair value of available-for-sale financial assets (37,830) —

Income tax benefit/(expense) on other comprehensive income 7,566 (3,350,289)

Other comprehensive (expenses)/income for the year (30,264) 13,401,156

Total comprehensive income for the year 2,411,994 12,571,753

Profit/(loss) attributable to the owners of the Group 2,442,258 (829,403)

Total comprehensive income attributable to the owners of the Group 2,411,994 12,571,753

Earnings/(loss) per Share — basic and diluted (in Russian rubles per share) 19 0.0757 (0.0257) Financial Statements

ANNUAL REPORT Consolidated Statement of Cash Flows for the year ended 31 December 2009 Notes 2009 2008 thousand rubles thousand rubles CASH FLOWS FROM OPERATING ACTIVITIES: Profit/(loss) before income tax 3,505,884 (2,097,336) Adjustments for: Depreciation 5 1,866,892 2,812,159 Impairment loss of property, plant and equipment 5 — 1,970,698 Loss on disposal of property, plant and equipment 207,196 78,586 Finance income, net 18 (73,879) (471,103) 149 Other 366,068 246,136 Cash from operating activities before changes in working capital 5,872,161 2,539,140 Working capital changes: Change in accounts receivable and prepayments (1,262,930) (1,945,930) Change in inventories 1,360,221 (1,387,080) Change in other assets 41,289 217,868 Change in other non-current assets 394,152 (821,830) Change in accounts payable and accruals (1,648,790) 2,741,370 Change in other non-current liabilities 631,656 (101,606) Change in taxes payable other than income tax (7,112) (227,304) Cash flows from operations before income taxes and interest paid 5,380,647 1,014,628 Interest paid (266,165) (326,191) Income tax paid (357,108) (224,817) Net cash generated from operating activities 4,757,374 463,620 CASH FLOWS FROM INVESTING ACTIVITIES: Acquisition of property, plant and equipment (9,593,910) (10,111,064) Proceeds from short-term deposits 3,484,293 11,018,177 Interests received 18 349,169 829,010 Proceeds from disposal of property, plant and equipment 21,200 11,949 Net cash (used in)/from investing activities (5,739,248) 1,748,072 CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from borrowings 2,000,000 2,282,041 Repayment of borrowings (29,046) (4,358,364) Disposal of treasury shares — 177 Financial Statements Dividends paid (7,019) (568,959) Net cash generated from/(used in) financing activities 1,963,935 (2,645,105) Change in cash and cash equivalents 982,061 (433,413) Cash and cash equivalents at the beginning of the year 215,014 648,427 Cash and cash equivalents at the end of the year 10 1,197,075 215,014

The information above is an abstract from a full set of the Company’s financial statements for 2009 prepared in accordance with International Financial Reporting Standards (IFRS). The Annual Report does not include the above financial statements in full. A full copy of the Company’s Consolidated financial statements is posted on the JSC “OGK-6” website (www.ogk6.ru) in the Shareholders and Investors Information Section.

ОGК-6 2009 the power of aspiration 11 Appendices

Appendix 1. Information on Observance of the Code of Corporate Conduct by JSC “OGK-6” Appendix 2. Information on Major Transactions and Related Party Transactions Concluded by JSC “OGK-6” in 2009 Appendix 3. JSC “OGK-6” Primary Equipment Characteristics

The law of gravity is absolutely right but it doesn’t mean that you can’t get off the ground. With the aim in sight, you’re sure to find a way. 11

Appendices

Appendix 1

152 Information on Observance of the Code of Corporate Conduct by JSC “OGK-6” No. Code of Corporate Conduct Provision Observed or Not Notes Observed 1 2 3 4

General Meeting of Shareholders

1 Shareholders shall be notified of the holding of a General Not Observed In accordance with Clause 17.12. of the Charter: “The notification of the Shareholders’ Meeting no less than 30 days prior to holding of a General Shareholders’ Meeting shall be sent (or delivered) to each the date of its holding regardless of the issues on the person specified in the list of persons having the right to participate in the agenda, unless the law provides for a longer period. General Shareholders’ Meeting, shall be published by the Company in Izvestiya newspaper, and shall be posted on the Company’s website no later than 30 (Thirty) days prior to the date of the Meeting.”

2 Shareholders shall have access to the list of persons who Observed In accordance with Clause 4, Article 51 of the Federal Act On Joint-Stock have the right to participate in the General Shareholders’ Companies, the list of persons who have the right to participate in the General Meeting, starting from the day of the notification of the Shareholders’ Meeting shall be presented by the Company for examination at holding of a General Shareholders’ Meeting until the the request of the persons included on the list and holding no less than 1% of close of the Shareholders’ Meeting in praesentia, or, in the votes. the event of a General Shareholders’ Meeting in absentia, until the cut-off date for acceptance of voting ballots.

3 Shareholders shall have access to information Observed In accordance with Clause 17.16. of the Charter: “... Information (materials) shall (materials) subject to provision in preparation for a be posted on the Company’s website no later than 10 (Ten) days prior to the date General Shareholders’ Meeting by means of electronic of the General Shareholders’ Meeting…” communications, including via the Internet.

4 Shareholders shall be entitled to introduce an issue to Observed In accepting proposals for the agenda of the General Shareholders’ Meeting, the agenda of a General Shareholders’ Meeting or to call including those which nominate candidates for members of the Board of a General Shareholders’ Meeting without provision of Directors, the Company shall independently request confirmation in the an extract from the shareholder registry, if the record shareholder registry. of the shareholder’s rights is made in the shareholder In accordance with Article 3, Clause 3.6. of the Regulations on the General registry management system, or, in the event that the Shareholders’ Meeting: “if a proposal for the agenda of the annual Company shareholder’s rights are recorded on a DEPO account, General Shareholders’ Meeting, a proposal nominating candidates for Company the DEPO account statement shall be sufficient to bodies that are elected by the General Shareholders’ Meeting or a request that exercise the above-mentioned rights. an Extraordinary General Meeting be held is signed by a shareholder (or his/her

Appendices representative), whose rights are recorded on a DEPO account, a DEPO account statement produced by the Depository which records rights to those shares shall be attached.”

5 A requirement for obligatory presence of the General Not Observed According to the second paragraph of Clause 5.2.2 of the Code of Corporate Director, members of the Management Board, members Governance: “The Company whenever possible shall ensure the presence at the of the Board of Directors, members of the Audit General Shareholders’ Meeting of members of the Board of Directors, executive Commission, and the Joint-Stock Company Auditor at bodies, the Audit Commission and the Company’s Auditor, and shall authorize the General Shareholders’ Meeting shall be specified in them to answer shareholders’ questions.” the Charter or internal documents of the Joint-Stock Company.

ANNUAL REPORT 1 2 3 4 6 Candidates shall be present at the General Shareholders’ Not Observed The Company’s Charter and internal documents contain no provisions stipulating Meeting in case of consideration of issues regarding their obligatory presence at the General Shareholders’ Meeting. election of members of the Board of Directors, the General Director, members of the Management Board, and members of the Audit Commission, as well as the issue of appointing the Joint-Stock Company’s Auditor. 7 Procedure for registering participants in the General Observed In accordance with Article 9, Clause 9.1. of the Regulations on the General Shareholder’s Meeting shall be specified in the Joint- Shareholders’ Meeting “Registration for participation in the Company’s Stock Company’s internal documents. General Shareholders’ Meeting shall be conducted for the individuals (or their representatives) included on the list of persons having the right to participate in the General Shareholders’ Meeting with the exception of those persons (or their representatives) whose ballots were received no later than two days before the date of the meeting.” 153 Board of Directors 8 The authority of the Board of Directors for annual Observed In accordance with Article 20, Clause 20.1 Subclause 59 of the Charter, issues approval of the financial and economic plan of the Joint- within the competence of the Board of Directors shall include “the approval Stock Company shall be mentioned in the Joint-Stock of the business plan (adjusted business plan) and report on the results of the Company’s Charter. execution thereof, аs well as approval (adjustments) of cash flow benchmarks (budget) for subsidiaries and affiliates and/or approval (adjustments) of cash flow (budget) for subsidiaries and affiliates”. 9 Procedure for risk management in the Joint-Stock Observed The Company has the Regulations on Non-financial Risk Management company shall be approved by the Board of Directors. approved by the Board of Directors on April 19, 2006 (Minutes No. 17 dd. April 20, 2006) the Regulations on Credit Policy, approved by the Board of Directors on April 25, 2008 (Minutes No. 38 dd. April 28, 2008) and the Regulations on Risk Monitoring and Management Procedure within implementation of JSC “OGK-6” investment projects approved by the Board of Directors on December 4, 2007 (Minutes No. 55 dd. December 4, 2007). 10 The right of the Board of Directors to suspend the Not Applicable In accordance with Article 20, Clause 20.1 Subclause 24 of the Charter, authority of the General Director appointed by the “appointment (election) of the Company’s General Director and early General Shareholders’ Meeting shall be mentioned in termination of his or her authority,” shall be within the competence of the the Joint-Stock Company’s Charter. Board of Directors (and not the General Shareholders’ Meeting). 11 The right of the Board of Directors to establish Not Observed In accordance with Article 25, Clause 25.6 of the Charter: “Company Executive requirements for the qualifications and amount of Bodies shall be accountable to the Board of Directors and the Company General bonuses of the General Director, members of the Shareholders’ Meeting. The rights and obligations of the Company’s General Management Board, and managers of main structural Director and members of the Company’s Management Board shall be defined subdivisions of the Joint-Stock Company shall be by the Federal Act On Joint-Stock Companies, by other legal acts of the mentioned in the Joint-Stock Company’s Charter. Russian Federation, by the Charter and the labour contract concluded by each of them with the Company. 12 The right of the Board of Directors to approve the terms Not Observed No right of the Board of Directors to approve the terms and conditions of and conditions of contracts with the General Director and contracts with the General Director and members of the Management Board is members of the Management Board shall be mentioned mentioned in the Company’s Charter. in the Joint-Stock Company’s Charter. 13 A requirement shall be mentioned in the Charter or Not Observed No such requirements are made in the Charter or internal documents of the internal documents of the Joint-Stock Company that Company. when approving terms and conditions of contracts with the General Director (managing company/manager) and members of the Management Board, the votes Appendices of members of the Board of Directors who are the General Director or members of the Board shall not be considered when counting the votes. 14 No less than three independent directors meeting the Observed The independent directors are: requirements of the Code of Corporate Conduct shall Anatoly Anatolyevich Gavrilenko be members of the Joint-Stock Company’s Board of Alexander Vladimirovich Ilyenko Directors. Evgeniya Viloryevna Fisher Mikhail Leonidovich Khodursky Damir Akhatovich Shavaleyev Pavel Olegovich Shatsky Sergey Viktorovich Yatsenko

ОGК-6 2009 1 2 3 4

15 Persons who were found guilty of economic crimes Observed or crimes against the state, interests of state service, or service in local government bodies, or to whom administrative penalties were applied for violations in the field of business, finance, taxes and duties, and the securities market shall not be members of the Joint- Stock Company’s Board of Directors.

16 Persons who are participants, the General Director Not Observed As of December 31, 2009: (manager), members of a management body, or D.V. Fedorov is the Chairman of the Board of Directors of JSC “OGK-2” and a employees of a legal entity in competition with the member of the Board of Directors of JSC “TGK-1” and JSC “Mosenergo.” Joint-Stock Company shall not be members of the A.A. Mityushov and A.A. Gavrilenko are members of the Board of Directors of 154 Joint-Stock Company’s Board of Directors. JSC “OGK-2,” JSC “TGK-1” and JSC “Mosenergo.” B.F. Weinsicher is a member of the Board of Directors of JSC “OGK-2” and the General Director of JSC “TGK-1”. M.L. Khodursky is a member of the Board of Directors of JSC “OGK-2” and JSC “TGK-1”.

17 A requirement for election of the Board of Directors by Observed In accordance with Article 15, Clause 15.1., Subclause 4 of the Charter: “Electing a cumulative vote shall be mentioned in the Joint-Stock members of the Company’s Board of Directors and early termination of their Company’s Charter. authority. A resolution on electing members of the Board of Directors shall be passed through cumulative voting.” Also in accordance with Article 18, Clause 19.1. of the Charter: “Resolutions at the General Shareholders’ Meeting shall be conducted on the principle of “one Company voting share, one vote,” with the exception of cumulative voting on the issue of electing members of the Company’s Board of Directors. During cumulative voting, the number of votes for each shareholder shall be multiplied by the number of individuals which shall be elected to the Company’s Board of Directors, and shareholders shall be entitled to use all the votes they became entitled to in this way for one candidate or share them between two or more candidates. The candidates elected into the Company’s Board of Directors shall be the candidates with the largest number of votes.”

18 The obligation of the members of the Board of Directors Observed In accordance with Clause 4.1.6 of the Code of Corporate Governance of the not to take actions that will or may lead to a conflict Company approved by the Resolution of the Board of Directors dd. December between their interests and the interests of the Joint- 21, 2006 (Minutes No.29 dd. December 25, 2006), members of the Board of Stock Company, and, in the event of such a conflict, Directors shall not take actions which may lead to a conflict between their to disclose information concerning this conflict to the interests and the interests of the Joint-Stock Company. In the event of such a Board of Directors shall be mentioned in the Joint-Stock conflict, a member of the Board of Directors shall inform other members of the Company’s internal documents. Board on this and shall not vote on the relevant issues.

19 The obligation of the members of the Board of Directors Observed In accordance with Clause 4.1 of the Regulations on the Company’s Insider to notify the Board of Directors in writing of an intention Information, members of the Company’s Board of Directors shall disclose to execute trades with securities of the Joint-Stock information on holding the Company’s securities to the Audit Committee under Company of which they are members of the Board of the Company’s Board of Directors. Directors, or of its subsidiary (affiliated) companies, as In accordance with Clause 4.2 of the Regulations on the Company’s Insider well as to disclose information regarding trades with Information, “no later than on the third day of the month following the reporting such securities executed by them shall be mentioned in month, insiders shall provide the Subdivision responsible for control of the Appendices the Joint-Stock Company’s internal documents. use of insider information with a written declaration of trades executed with securities of the Company and/or its subsidiaries and affiliates in the reporting month.”

20 A requirement for holding a Meeting of the Board of Not Observed In accordance with Article 8, Clause 8.2 of the Regulations on the Company’s Directors no less than once every six weeks shall be Board of Directors: “Meetings of the Board of Directors shall be conducted when mentioned in the Joint-Stock Company’s internal necessary but no less frequently that once per quarter in accordance with the documents. Plan of Operations approved by the Board of Directors.”

ANNUAL REPORT 1 2 3 4

21 Meetings of the Joint-Stock Company’s Board of Observed Between January 1, 2009 and December 31, 2009, 20 meetings of the Company’s Directors throughout the year for which the Annual Board of Directors were held. Meetings were held no less than once every six Report of the Joint-Stock Company is compiled, shall weeks. be held no less than once every six weeks.

22 A procedure for holding meetings of the Board of Observed The procedure for holding meetings of the Company’s Board of Directors is Directors shall be mentioned in the Joint-Stock specified by Article 22 of the Charter, as well as by Article 8 of the Regulations Company’s internal documents. on the Board of Directors.

23 A provision shall be specified in the Joint-Stock Observed In accordance with Article 20, Clause 20.1 Subclauses 49 and 50 of the Company’s internal documents concerning the necessity Charter, “the preliminary approval of resolutions regarding conclusion of the Board of Directors’ approval of transactions of the transactions (including several interrelated transactions), the subject of which Joint-Stock Company involving a sum of 10 percent is property, work and/or services with a value of more than 10 percent of the 155 or more of the value of the Company’s assets, with the book value of the Company’s assets, as of the date recorded in the financial exception of transactions concluded in the process of statement for the latest reporting date (if by resolution the Board of Directors regular economic activity. has not established another percentage or cost for the transaction) with the exception of transactions concluded in the process of regular economic activity, transactions connected with placing ordinary Company shares by means of subscription (by sale) and transactions connected with placing equity securities convertible into ordinary Company shares with the exception of transactions, the approval of which is stipulated by Subclauses 50, 51, 53— 55 of Clause 20.1 Article 20 hereof” shall be within the competence of the Board of Directors, as well as “the preliminary approval of transactions, the subjects of which are non-current Company’s assets in the amount greater than 10 percent of the book value of non-current Company’s assets as of the date of the resolution to conclude such a transaction.”

24 The right of members of the Board of Directors to obtain Observed In accordance with Clause 4.8. of the Regulations on the Board of Directors: information necessary for performing their functions “The Secretary of the Company’s Board of Directors (Corporate Secretary) from executive bodies and managers of main structural as well as other Company officials or employees shall provide members of subdivisions of the Joint-Stock Company, as well as the Board of Directors with access to requested documents and information of liability for failure to provide such information shall indicated in Clause 4.2.1 (regulatory, accounting, reporting, financial and be specified in the Joint-Stock Company’s internal other Company documents and materials (including complete audit reports, documents. Minutes for Meetings of the Board of Directors, Committees of the Board of Directors and the Company’s Management Board, as well as other documents as stipulated by Article 89 of the Federal Act On Joint-Stock Companies, necessary for resolving issues which are within the competence of the Board of Directors in accordance with the Regulations as well as provide copies of the necessary documents and materials upon request within 5 calendar days from the date that the request was received.”

25 A Committee of the Board of Directors for Strategy and Observed On February 14, 2007 the Board of Directors resolved to create the Committee Business Planning shall be created or the functions of the Board of Directors for Strategy and Business Planning (Minutes No. 31 of such a committee shall be delegated to a different dd. February 15, 2007). The following members of the Committee of the Board committee (other than the Audit Committee and the of Directors for Strategy and Business Planning were appointed by resolution of Personnel and Remuneration Committee). the Board of Directors (Minutes No. 24 dd. July 23, 2009) Pavel Olegovich Shatsky — Chair of the Committee; Sergey Petrovich Anisimov; Alexey Leonidovich Borov; Yana Nikolaevna Ganzer; Appendices Alexander Gennadyevich Diykov; Ivan Evgenyevich Dotsenko; Mikhail Igoryevich Kovalev; Irina Yuryevna Korobkina; Yury Alexandrovich Lukanin; Alexander Vladimirovich Rogov; Maria Gennadyevna Tikhonova.

ОGК-6 2009 1 2 3 4 26 A Committee of the Board of Directors (the Audit Observed On February 14, 2007 (Minutes No. 31 dd. February 15, 2007), the Board of Committee) that recommends the Joint-Stock Directors resolved to create an Audit Committee of the Board of Directors. Company’s Auditor to the Board of Directors and The following members of the Audit Committee of the Board of Directors were cooperates with the latter and the Joint-Stock appointed by a resolution of the Board of Directors (Minutes No. 24 dd. July 23, Company’s Audit Commission shall be created. 2009) Mikhail Leonidovich Khodursky — Chair of the Committee; Alexander Vladimirovich Ilyenko; Sergey Viktorovich Yatsenko 27 Only independent and non-executive directors shall be Observed All members of the Audit Committee of the Board of Directors are independent members of the Audit Committee. Directors. 28 The Audit Committee shall be managed by an Observed The Chair of the Audit Committee of the Board of Directors is an independent 156 independent Director. Director. 29 All members of the Audit Committee shall have access Observed Regulations on the Audit Committee of the Board of Directors were approved on to any documents and information of the Joint-Stock February 14, 2007 (Minutes No.31 dd. February 15, 2007) In accordance with Company on condition of non-disclosure by them of Subclause 2, Clause 4.1 of the Regulations, the Committee shall be entitled “to confidential information specified in the Joint-Stock request and receive information and documents necessary for conducting its Company’s internal documents. activity from the General Director and officials of the Company in accordance with the list approved by resolution of the Committee…” In accordance with Clause 4, Subclause 5.1. of the Regulations on the Audit Committee of the Board of Directors, the Committee shall observe confidentiality requirements. 30 A Committee of the Board of Directors (the Personnel Not Observed No Personnel and Remuneration Committee of the Board of Directors exists at and Remuneration Committee) the function of which is the Company. to determine criteria for the selection of candidates for members of the Board of Directors and development of the Joint-Stock Company’s policy in the area of remuneration shall be created. 31 The Personnel and Remuneration Committee shall be Not Observed No Personnel and Remuneration Committee of the Board of Directors exists at managed by an independent Director. the Company. 32 None of the Joint-Stock Company’s officials shall be Not Observed No Personnel and Remuneration Committee of the Board of Directors exists at members of the Personnel and Remuneration Committee. the Company. 33 A Risk Committee of the Board of Directors shall be Not Observed No Risk Committee of the Board of Directors exists at the Company. created or the functions of such a committee shall be delegated to a different committee (other than the Audit Committee and the Personnel and Remuneration Committee). 34 A Corporate Conflict Settlement Committee of the Board Not Observed No Corporate Conflict Settlement Committee exists at the Company. of Directors shall be created or the functions of such a committee shall be delegated to a different committee (other than the Audit Committee and the Personnel and Remuneration Committee). 35 No Joint-Stock Company’s officials shall be members of Not Observed No Corporate Conflict Settlement Committee exists at the Company. the Corporate Conflict Settlement Committee.

Appendices 36 The Corporate Conflict Settlement Committee shall be Not Observed No Corporate Conflict Settlement Committee exists at the Company. managed by an independent Director. 37 The Joint-Stock Company’s internal documents Observed On December 21, 2005 (Minutes No. 12) the Board of Directors resolved to stipulating the procedure for the formation and approve the Regulations on the Reliability Committee. operation of Committees of the Board of Directors shall On February 14, 2007 (Minutes No. 31 dd. February 15, 2007) the Board of be approved by the Board of Directors. Directors resolved to approve: — the Regulations on the Audit Committee — the Regulations on the Strategy and Business Planning Committee

ANNUAL REPORT 1 2 3 4

38 A procedure for establishing a quorum of the Board Not Observed of Directors ensuring obligatory participation of independent directors in meetings of the Board of Directors shall be specified in the Joint-Stock Company’s Charter.

Executive Bodies

39 A collective executive body (the Management Board) of Observed The JSC “OGK-6” Management Board was formed in accordance with the the Joint-Stock Company shall be established. Company’s Charter. In accordance with resolution of the Board of Directors dd. October 7, 2005 the Management Board has 8 members. 157 40 A provision concerning mandatory approval by the Partially Observed In accordance with Article 27, Clause 9 of the Charter, the Management Board Management Board of transactions involving real estate shall “approve transactions involving real estate if the value of the transaction and obtaining credits by the Joint-Stock Company, if defined in accordance with the report of an independent appraiser is more than such transactions are not major transactions and their 30 million rubles and the conclusion of such transactions does not pertain to conclusion does not pertain to the regular economic the regular economic activities of the Company, or preliminarily consider such activities of the Joint-Stock Company shall be specified transactions if the issue of their conclusion is within the competence of the in the Charter or internal documents of the Joint-Stock General Shareholders’ Meeting or the Company’s Board of Directors”. Company.

41 A procedure for agreement of operations that are not Not Observed included in the financial and economic plan of the Joint- Stock Company shall be specified in the Joint-Stock Company’s internal documents.

42 Persons who are participants, the General Director Not Observed A.A. Mityushov is a member of the Board of Directors of JSC “OGK-2,” JSC (manager), members of a management body, or “TGK-1” and JSC “Mosenergo”. employees of a legal entity in competition with the Joint-Stock Company shall not be members of the Joint-Stock Company’s executive bodies.

43 Persons who were found guilty of economic crimes Observed or crimes against the state, interests of state service, and service in local government bodies or to whom administrative penalties were applied for violations in the field of business, finance, taxes and duties, and the securities market shall not be members of the Joint- Stock Company’s executive bodies. If functions of the sole executive body are performed by a managing company or a manager, the General Director and members of the Board of the management organization or the manager shall meet the requirements to the General Director and members of the Board of the Joint-Stock Company. Appendices 44 A prohibition on the management organization Not Observed (manager) from performing similar functions in a competing company, as well as from having any other property relations with the Joint-Stock Company, other than rendering services of a management organization (manager) shall be present in the Joint-Stock Company’s Charter or internal documents.

ОGК-6 2009 1 2 3 4

45 The obligation of executive bodies not to take actions Observed In accordance with Clause 4.2.7 of the Code of Corporate Governance of the that will or may lead to a conflict between their interests Company approved by the Resolution of the Board of Directors dd. December and the interests of the Joint-Stock Company, and, 21, 2006 (Minutes No. 29 dd. December 25, 2006) the General Director and in the event of such a conflict, to inform the Board of members of the Management Board shall not take actions which may lead to Directors of the same, shall be mentioned in the Joint- conflicts between their interests and the interests of the Joint-Stock Company. Stock Company’s internal documents. In the event of such a conflict the General Director and members of the Management Board shall inform the Board of Directors of the same and shall not discuss these issues or vote on them.

46 Criteria for selecting a management organization Not Observed (manager) shall be present in the Joint-Stock Company’s Charter or internal documents. 158 47 The Joint-Stock Company’s executive bodies shall Partially Observed The General Director’s reports on the Company’s activities are submitted to the submit monthly reports on their work to the Board of Board of Directors on a quarterly basis. Directors.

48 Contracts concluded by the Joint-Stock Company with Observed In accordance with Clause 4.11. of the Regulations on the Management Board, the General Director/managing organization/manager “members of the Management Board shall be liable to the Company for losses and members of the Management Board shall include incurred through their delinquent actions (failure to act), if no other grounds and liability for violation of provisions concerning the use of amount of liability is established by federal law…” confidential and classified information. In accordance with Clause 5.1. of the Regulations on Insider Information, “for illegal dissemination and/or use of insider information, the Company's insiders may be subjected to disciplinary and/or civil liability in accordance with the terms of contracts with the Company and applicable law, and to administrative and criminal liability in accordance with applicable law.”

The Company’s Secretary

49 The Joint-Stock Company shall have a specific official Observed The Company has a Corporate Secretary. (the Company’s Secretary) whose task is to ensure the observation by the Joint-Stock Company’s bodies and officials of procedural requirements that ensure that the rights and legal interests of the Joint-Stock Company’s shareholders are exercised.

50 A procedure for appointment (election) of the Company’s Observed The Company’s internal documents (Article 6 of the Regulations on the Secretary and obligations of the Company’s Secretary Management Board, Article 7 of the Regulations on the Board of Directors, shall be specified in the Joint-Stock Company’s Charter Article 8 of the Regulations on the General Shareholders’ Meeting) contain the or internal documents. procedure for appointment and obligations of the secretaries of the respective executive bodies. In accordance with the staffing schedule, the office of Corporate Secretary exists within the Company.

51 The Joint-Stock Company’s Charter shall include Not Observed Such requirements are not specified by the Charter. requirements for candidates for the Company’s Secretary.

Significant Corporate Actions

Appendices 52 The Joint-Stock Company’s Charter or internal Not Observed The Charter and internal documents of the Company contain no requirement for documents shall contain a requirement for approval of approval of major transactions prior to conclusion thereof. major transactions prior to conclusion thereof.

53 An independent appraiser shall be employed to appraise Not Observed the market value of property constituting the subject of a major transaction.

ANNUAL REPORT 1 2 3 4 54 The Joint-Stock Company’s Charter shall prohibit, Not Observed upon purchasing major share blocks of the Joint-Stock Company (acquisition), any actions aimed at protecting the interests of executive bodies (members of such bodies) and members of the Joint-Stock Company’s Board of Directors, as well as actions that would worsen the situation of shareholders in comparison with the existing situation (in particular, resolutions by the Board of Directors before the end of the proposed term for purchase of shares to issue additional shares, securities converted to shares, or options to purchase company shares shall be prohibited, even if the right to pass such resolutions is provided to the same by the Charter). 159 55 The Joint-Stock Company’s Charter shall provide for the Not Observed Company shares have been traded on the leading stock exchanges in Russia obligatory employment of an independent appraiser to since August 2006: JSC RTS and MICEX Stock Exchange, where their current appraise the current market value of shares and possible market value is determined. changes to their market value due to acquisition. 56 The Joint-Stock Company’s Charter shall not exempt Observed the purchaser from the liability to offer shareholders the option to sell ordinary company shares (equity securities converted to ordinary shares) which they own upon acquisition. 57 The Joint-Stock Company’s Charter or internal Not Observed This requirement is not specified in the Charter or internal documents of the documents shall provide for obligatory employment Company. However, in practice, an independent appraiser has been employed to of an independent appraiser to determine the share determine conversion ratios. conversion ratio upon reorganization. Information Disclosure

58 An internal document specifying Joint-Stock Company’s Observed The Regulations on Information Policy of JSC Sixth Wholesale Power Market rules and approaches to information disclosure Generating Company (approved by the Resolution of the Company’s Board of (Regulations On Information Policy) shall be approved Directors dd. December 21, 2006, Minutes No. 29). by the Board of Directors. 59 The Joint-Stock Company’s internal documents shall Not Observed provide for disclosure of information on the purposes of share placement, on persons intending to purchase placed shares, including major share blocks, as well as whether or not senior managers of the Joint-Stock Company will participate in purchasing the Company’s placed stock. 60 The Joint-Stock Company’s internal documents shall Not Observed The complete list of information, documents, and materials provided to contain a list of information, documents, and materials shareholders to solve the issues presented to the General Shareholders’ Meeting that must be provided to shareholders to solve the is not specified in any of the Company’s internal documents. issues presented to the General Shareholders’ Meeting. In accordance with Article 4, Clause 4.1. of the Regulations on the General Shareholders’ Meeting, in preparation for holding the General Shareholders’ Meeting, the Board of Directors shall compile “a list of information (materials) that must be provided to shareholders in preparation for holding the General Appendices Shareholders’ Meeting and the procedure for its provision.”

61 The Joint-Stock Company shall have a website and Observed The corporate website www.ogk6.ru is in operation. regularly disclose information concerning the Joint- In accordance with Clause 6.4 of the Regulations on the Information Policy the Stock Company thereon. Company shall publish information on its activities on the corporate website.

ОGК-6 2009 1 2 3 4 62 The Joint-Stock Company’s internal documents shall Observed In accordance with the Regulations on the Information Policy, the Company shall provide for disclosure of information concerning disclose information on the corporate website concerning ownership by higher transactions of the Joint-Stock Company with persons officials and their affiliates of shares in the Company and its subsidiaries and who are senior managers of the Joint-Stock Company in affiliates, with specification of the number and category/type of shares (Clause accordance with the Charter, as well as concerning the 5.2.8.2); information on transactions between said persons and the Company Joint-Stock Company’s transactions with organizations (Clause 5.2.8.3). in which the Joint-Stock Company’s senior managers directly or indirectly own 20 percent or more of the share capital of the Joint-Stock Company or which such persons may otherwise influence significantly. 63 The Joint-Stock Company’s internal documents shall Observed Clause 5.1 of the Regulations on Information Policy (disclosure of information 160 provide for disclosure of information concerning all in the Securities Prospectus, quarterly report, and in the form of statements of transactions that may have an influence on the market material facts). value of the Joint-Stock Company’s shares. 64 An internal document on the use of important information Observed The Regulations on Insider Information of JSC Sixth Wholesale Power Market on the Joint-Stock Company’s activities, the Company’s Generating Company (approved by the Resolution of the Company’s Board of shares and other securities, and transactions with the Directors dd. May 25, 2007, Minutes No. 40). same, which is not publicly available and the disclosure of which could have a significant influence on the market value of the Joint-Stock Company’s shares and other securities shall be approved by the Board of Directors.

Control of Financial and Economic Activity

65 Internal control procedures for the financial and Observed The internal control procedures were defined by the Regulations on the Internal economic activities of the Joint-Stock Company shall Control System approved by the Company’s Board of Directors on October 8, be approved by the Board of Directors. 2009 (Minutes No. 28 dd. October 12, 2009).

66 A special subdivision of the Joint-Stock Company Observed Observance of the Company’s internal control procedures is monitored by the shall be responsible for observance of internal control Internal Audit Board in accordance with the Regulations on the Internal Audit procedures (Control and Auditing Service). Board, approved by the General Director of JSC “OGK-6” on September 15, 2009. The Internal Audit Board was created in accordance with the Organizational Structure of the JSC “OGK-6” executive bodies, approved by Resolution of the Company’s Board of Directors (Minutes No. 16 dd. March 30, 2009) and effective since July 1, 2009.

67 The Joint-Stock Company’s internal documents shall Not Observed specify that the structure and members of the Joint- Stock Company’s Control and Auditing Service are to be determined by the Board of Directors.

68 Persons who were found guilty of economic crimes Observed or crimes against the state, interests of state service, or service in local government bodies, or to whom administrative penalties were applied for violations in the field of business, finance, taxes and duties, and the securities market shall not be members of the Control and Auditing Service.

69 Persons who are members of executive bodies of the Observed Appendices Joint-Stock Company, or participants, the General Director (Manager), members of a management body, or employees of a legal entity in competition with the Joint-Stock Company shall not be members of the Joint-Stock Company’s Control and Auditing Service.

ANNUAL REPORT 1 2 3 4

70 The Joint-Stock Company’s internal documents shall Not Observed specify the date for submission of documents and materials for appraisal of financial and economic operations conducted to the Control and Auditing Service, as well as the liability of the Joint-Stock Company’s officials and workers for their failure to submit the said documents and materials by the specified date.

71 The Joint-Stock Company’s internal documents shall Observed In accordance with Clause 5.3 of the Regulations on Internal Control Procedures: specify the obligation of the Control and Auditing the Internal Audit Board shall inform the Audit Committee of the Board of Service to notify the Audit Committee or, in its absence, Directors about violations and deficiencies of financial and economic activity the Joint-Stock Company’s Board of Directors of that are discovered during internal audits. 161 discovered violations.

72 The Joint-Stock Company’s Charter shall provide for Not Observed preliminary appraisal of the feasibility of operations not included in the financial and economic plan of the Joint-Stock Company (non-standard operations) by the Control and Auditing Service.

73 The Joint-Stock Company’s internal documents shall Observed In accordance with Article 20, Clause 20.1 of the Charter, approval of the specify a procedure of agreement of non-standard following non-standard transactions is within the competence of the Board of operations with the Board of Directors. Directors: — Property evaluation, determining the price of placement and redemption of equity securities in cases stipulated by the law of the Russian Federation as well as when resolving issues indicated in Subclauses 43—45, 49—51 of Clause 20.1., Article 20 of the Charter; — Placing of bonds and other equity securities by the Company with the exception of cases established by the Federal Act On Joint-Stock Companies and this Charter; — Approving resolutions on the issue of securities, Securities Prospectus, a report on securities issue totals, reports on the results of acquiring shares by Company shareholders, reports on the results of share redemption, reports on the results of claims made by shareholders on redemption of their shares and reports on the results of redemption of Company shareholders’ shares. — Acquiring shares, bonds and other securities placed by the Company in cases stipulated by the Federal Act On Joint-Stock Companies, with the exception of a case stipulated in Clause 1, Article 72 of the Federal Act On Joint-Stock Companies. — Passing resolutions on the disposal (sale) of Company shares transferred to the ownership of the Company as a result of their acquisition or redemption by Company shareholders as well as in other cases stipulated by the Federal Act On Joint-Stock Companies; — Passing resolutions on the Company’s participation in other organizations (on joining an existing organization or incorporating a new organization including agreement of constituent documents), as well as (taking into account regulations of Subclause 45, Clause 20.1, Article 20 hereof) on

acquisition, disposal, transfer to asset management, transfer by pledge or Appendices other encumbrances of shares and shares in charter capital of organizations which the Company is participating in, changing the share of participation in the charter capital of such an organization and terminating the Company’s participation in other organizations);

ОGК-6 2009 1 2 3 4

— Passing resolutions on conclusion by the Company of one or several interrelated transactions through disposal, transfer to asset management, transfer by pledge or other encumbrances of shares and shares of other organizations’ charter capital, the purpose of which is not generation, supply, dispatch, distribution and sale of electric power and heat, repair and service activity, in case if the market value of the shares or share that are the subject of a transaction defined in accordance with the report of an independent appraiser is more than 30 million rubles as well as in other cases (amounts) specified by individual resolutions of the Company’s Board of Directors; — Passing resolutions on the Company paying contributions to the property of other organizations in accordance with approved Company procedure for conclusion of transactions; 162 — Passing resolutions which approve related party transactions, in cases and in accordance with the procedure as stipulated by the law of the Russian Federation; — Passing resolutions which approve major transactions in cases and in accordance with the procedure as stipulated by the law of the Russian Federation; — Passing resolutions which approve transactions (prior to their conclusion), including several interrelated transactions, the subject of which is property, work and/or services with a value of more than 10 percent of the book value of the Company’s assets, as of the date recorded in the financial statement for the latest reporting date (unless another percentage or transaction value has been established by resolution of the Board of Directors) with the exception of transactions concluded during regular economic activity, transactions connected with placing ordinary Company shares by subscription (by sale) and transactions connected with placing equity securities convertible into ordinary Company shares with the exception of transactions which shall be approved in accordance with Subclauses 50, 51, 53—55 of Clause 20.1, Article 20 hereof; — Passing resolutions which approve transactions (prior to their conclusion), the subjects of which are non-current Company’s assets in the amount greater than 10 percent of the book value of non-current Company’s assets as of the date of the resolution to conclude such a transaction; — Passing resolutions which approve transactions (prior to their conclusion), including several interrelated transactions which involve Company property constituting fixed assets, intangible assets and properties under construction, the purpose of which is generation, supply and/or distribution of electric power and/or heat, operational and technical (dispatch) services in the electric power industry in cases specified by individual resolutions of the Company’s Board of Directors (for example by specifying the amount and/or list and approval of the corresponding register of such property), as well as approval of any aforementioned transactions, if such cases (amounts, list) are not specified; — Passing resolutions regarding conclusion of collective labor contracts, agreements concluded by the Company in the context of regulating social and work relations. Such resolutions shall be passed by the Board of Directors before the conclusion of these transactions; — Passing resolutions which approve transactions (prior to their conclusion), including several interrelated transactions, the subject of which is extension or Appendices deferment in fulfilling civil liabilities of the Company which are overdue for more than 3 months; or signing an agreement on compensation or revival of such liabilities, cession of rights (claims) or transfer of debt under such liabilities. The aforementioned transactions shall be subject to approval in cases if the volume of liabilities (debts) is more than 10 percent of the book value of the Company’s assets as of the date recorded in the financial statement for the latest reporting date (unless another percentage or transaction value has been established by resolution of the Board of Directors);

ANNUAL REPORT 1 2 3 4

— Passing resolutions on approval of the following transactions (before their completion) in cases (amounts) specified by individual resolutions of the Company’s Board of Directors: а) transactions related to uncompensated transfer of the Company’s property rights (claims) to itself or a third party; b) transactions related to exemption from property liability to itself or a third party; c) transactions related to uncompensated provision of services (performance of works) by the Company to third parties.

74 An internal document specifying the procedure for Observed The Regulations on the Audit Commission approved by the Board of Directors conducting an audit of the Joint-Stock Company’s are in effect at the Company. financial and economic activities by the Audit Commission 163 shall be approved by the Board of Directors.

75 The Audit Committee shall appraise the audit report prior Observed In accordance with Clause 3.1 of the Regulations on the Audit Committee of to submission thereof to Shareholders at the General the Board of Directors approved by the Resolution of the Board of Directors Shareholders’ Meeting. dd. February 14, 2007 (Minutes No. 31 dd. February 14, 2007), evaluation of the Audit Report shall be within the competence of the Audit Committee of the Board of Directors. Evaluation of the Audit Report prepared by the Audit Committee (Minutes No. 2 dd. April 14, 2008) has been presented to the Annual General Meeting of Shareholders on June 11, 2008.

Dividends

76 An internal document to which the Board of Directors Not Observed There are no Regulations on Dividend Policy. conforms in making recommendations on the amount of dividends (Regulations On Dividend Policy) shall be approved by the Board of Directors.

77 A procedure for determining the minimum share of Not Observed net profit of the Joint-Stock Company to be allocated for payment of dividends and the conditions under which dividends are not paid or not completely paid on preferred shares, the amount of dividends for which is specified in the Joint-Stock Company’s Charter, shall be provided for in the Regulations on Dividend Policy.

78 Information on the Joint-Stock Company’s dividend Partially Observed In accordance with the Regulations on Information Policy, information on the policy and amendments thereto shall be published in a Company’s dividend policy and amendments thereto is disclosed in the Securities periodical provided for by the Joint-Stock Company’s Prospectus (Clause 5.1), on the company website and in the Annual Report. Charter for publishing notices of General Shareholders’ Meetings and on the Joint-Stock Company’s website. Appendices

ОGК-6 2009 Appendix 2

Information on Major Transactions and Related Party Transactions Concluded by JSC “OGK-6” in 2009

1. Major Transactions

No major transactions were concluded in 2009.

2. Related Party Transactions

No. Transaction Names of the Parties Related Parties Value Meeting Minutes in 164 which the Transaction was approved Transactions approved by the Board of Directors 1. Agreement on recording idle cash JSC “OGK-6” (Customer); Members of the Board of 922,368 rubles 75 kopecks. No. 10 dd. on a settlement account balance CJSC Gazenergoprombank Directors of JSC “OGK-6:” October 23, (Bank). D.V. Fedorov 2008 M.L. Khodursky 2. Voluntary Health Insurance JSC “OGK-6” (Policy holder); General Director 6,873,130 rubles 00 kopecks. No. 13 dd. Agreement JSC “SOGAS” (Underwriter). All members of the Management January 12, Board 2009 3. Agreement on accrued interest JSC “OGK-6” (Customer); JSC “Centrenergyholding” 46,482,690 rubles 00 No. 14 dd. (income) on an account balance “Gasprombank” (Open Joint- kopecks. February 20, Stock Company) (Bank). Member of the Board of Directors 2009 A.A. Gavrilenko 4. Bilateral Stock Exchange Purchase JSC “OGK-6” (Seller); Members of the Board of 2,222,256 rubles 24 kopecks, No. 15 dd. and Sale Agreements for Electricity JSC “TGK-1” (Buyer). Directors A.A. Mityushov, including 18% VAT to the March 4, 2009 and Capacity D.V. Fedorov, M.L. Khodursky. amount of 338,988 rubles 24 JSC “Centrenergyholding” kopecks. 5. Bilateral Stock Exchange Purchase JSC “OGK-6” (Buyer); Members of the Board of 16,328,840 rubles, including No. 16 dd. and Sale Agreements for Electricity JSC “TGK-1” (Seller). Directors A.A. Mityushov, 18% VAT to the amount of March 30, 2009 and Capacity D.V. Fedorov, M.L. Khodursky. 2,490,840 rubles. JSC “Centrenergyholding” 6. Commercial Property Sublease JSC “OGK-6” (Lessor); LLC JSC “Centrenergyholding” 9,061,415 rubles, including No. 16 dd. Agreement “GAZOENERGETICHESKAYA Member of the Board of Directors 18% VAT to the amount of March 30, 2009 KOMPANIYA” (Sublessee). I.I. Lipsky 1,382,250 rubles. 7. Paid services agreement on training JSC “OGK-6” (Contractor); JSC “Centrenergyholding” 1,541,482 rubles 38 kopecks, No. 16 dd. no more than 30 (thirty) CJSC CJSC “ARMROSGAZPROM” including 18% VAT to the March 30, 2009 “ARMROSGAZPROM” personnel, (Customer). amount of 235,141 rubles 38 including work placements at JSC kopecks. “OGK-6” branch Kirishskaya GRES arranged by JSC “OGK-6”

Appendices 8. Agreement on depositing idle JSC “OGK-6” (Customer); Member of the Board of Directors Deposit to the amount No. 10 dd. investment cash CJSC Gazenergoprombank M.L. Khodursky of 67,146,000 rubles 00 October 23, (Contractor). kopecks. 2008 9. Bilateral Stock Exchange Purchase JSC “OGK-6” (Buyer); Members of the Board of 18,224,958 rubles 40 No. 18 dd. and Sale Agreements for Electricity JSC “TGK-1” (Seller). Directors A.A. Mityushov, kopecks, including 18% VAT April 30, 2009 and Capacity D.V. Fedorov, M.L. Khodursky to the amount of 2,780,078 JSC “Centrenergyholding” rubles 40 kopecks. 10. Commercial Property Sublease JSC “OGK-6” (Lessor); LLC JSC “Centrenergyholding” 75,651 rubles 00 kopecks, No. 18 dd. Agreement “GAZOENERGETICHESKAYA Member of the Board of Directors including 18% VAT to the April 30, 2009 KOMPANIYA” (Sublessee). I.I. Lipsky amount of 64,111 rubles 02 kopecks.

ANNUAL REPORT No. Transaction Names of the Parties Related Parties Value Meeting Minutes in which the Transaction was approved 11. Trademark Licensing Agreement JSC “OGK-6” (Licensee); JSC “Centrenergyholding” 424,800 rubles 00 kopecks, No. 18 dd. JSC “Gazprom” (Licensor). including 18% VAT to the April 30, 2009 amount of 64,800 rubles 00 kopecks. 12. Bilateral Stock Exchange Purchase JSC “OGK-6” (Buyer); Members of the Board of 18,224,958 rubles 40 No. 18 dd. and Sale Agreements for Electricity JSC “TGK-1” (Seller). Directors A.A. Mityushov, kopecks, including 18% VAT April 30, 2009 and Capacity D.V. Fedorov, M.L. Khodursky to the amount of 2,780,078 JSC “Centrenergyholding” rubles 40 kopecks. 165 13. Bilateral Stock Exchange Purchase JSC “OGK-6” (Buyer); Members of the Board of 1,789,257 rubles 60 kopecks, No. 20 dd. and Sale Agreements for Electricity JSC “TGK-1” (Seller). Directors A.A. Mityushov, including 18% VAT to the May 29, 2009 and Capacity D.V. Fedorov, M.L. Khodursky amount of 272,937 rubles 60 JSC “Centrenergyholding” kopecks. 14. Service agreement on increasing JSC “OGK-6” (Customer); JSC “Centrenergyholding” 38,200,000 rubles, including No. 21 dd. the effectiveness of management LLC “Gazprom energyholding” Chairman of the Board of 18% VAT to the amount of June 5, 2009 systems and reducing costs (Contractor). Directors D.V. Fedorov 5,827,119 rubles. 15. Service agreement on preparing JSC “OGK-6” (Customer); JSC Member of the Board of Directors 4,550,998 rubles 04 kopecks, No. 21 dd. for and holding the JSC “OGK-6” “CMD” (Contractor). I.I. Lipsky including 18% VAT to the June 5, 2009 General Meeting of Shareholders amount of 694,220 rubles 03 kopecks. 16. Addendum No. 1 to the Paid JSC “OGK-6” (Contractor); JSC “Centrenergyholding” Extending the term of the No. 25 dd. service agreement on training CJSC “ARMROSGAZPROM” services. August 17, no more than 30 (thirty) CJSC (Customer). 2009 “ARMROSGAZPROM” personnel, including work placements at JSC “OGK-6” branch Kirishskaya GRES arranged by JSC “OGK-6” 17. Bilateral Stock Exchange Purchase JSC “OGK-6” (Seller); JSC “Centrenergyholding” 77,713,166 rubles 70 No. 25 dd. and Sale Agreements for Electricity JSC “INTER RAO UES” (Buyer). kopecks, including 18% VAT August 17, and Capacity to the amount of 11,854,550 2009 rubles 70 kopecks. 18. Bilateral Stock Exchange Purchase JSC “OGK-6” (Seller); JSC “Centrenergyholding” 67,247,671 rubles 36 No. 26 dd. and Sale Agreements for Electricity JSC “INTER RAO UES” (Buyer). kopecks, including 18% VAT August 31, and Capacity to the amount of 10,258,119 2009 rubles 36 kopecks. 19. Bilateral Stock Exchange Purchase JSC “OGK-6” (Buyer); Member of the Board of Directors 15,475,228 rubles 00 No. 25 dd. and Sale Agreements for Electricity JSC “OGK-5” (Seller). M.G. Tikhonova kopecks, including 18% VAT August 17, and Capacity to the amount of 2,360,628 2009 rubles 00 kopecks. 20. Bilateral Stock Exchange Purchase JSC “OGK-6” (Buyer); Member of the Board of Directors 25,409,884 rubles 00 kopecks No. 25 dd.

and Sale Agreements for Electricity JSC “Enel OGK-5” (Seller). M.G. Tikhonova including 18% VAT to the August 17, Appendices and Capacity amount of 3,876,084 rubles 2009 00 kopecks. 21. Bilateral Stock Exchange Purchase JSC “OGK-6” (Buyer); Member of the Board of Directors 14,125,780 rubles 00 kopecks No. 26 dd. and Sale Agreements for Electricity JSC “Enel OGK-5” (Seller). M.G. Tikhonova including 18% VAT to the August 31, and Capacity amount of 2,154,780 rubles 2009 00 kopecks. 22. Bilateral Stock Exchange Purchase JSC “OGK-6” (Buyer); Member of the Board of Directors 2,636,025 rubles 60 kopecks No. 26 dd. and Sale Agreements for Electricity JSC “TGK-6” (Seller). M.G. Tikhonova including 18% VAT to the August 31, and Capacity amount of 402,105 rubles 60 2009 kopecks.

ОGК-6 2009 No. Transaction Names of the Parties Related Parties Value Meeting Minutes in which the Transaction was approved

23. Service agreement on cash JSC “OGK-6” (Customer); Members of the Board of 1,200,000 rubles 00 kopecks. No. 25 dd. transfers intended for paying out CJSC “Gazenergoprombank” Directors D.V. Fedorov, M.L. August 17, salaries and other welfare benefits (Contractor). Khodursky, S.V. Yatsenko 2009 to the current accounts of JSC “OGK-6” employees opened at CJSC “Gazenergoprombank.”

24. Agency agreement on the JSC “OGK-6” (Principal); JSC “Centrenergyholding” 30,900,000 rubles a year No. 30 dd. 166 organisation of air transportation GAZPROMAVIA Airline LLC November 2, on behalf of JSC “OGK-6” (Agent). 2009

25. Bilateral Stock Exchange Purchase JSC “OGK-6” (Seller); JSC “Centrenergyholding” 26,177,120 rubles 00 kopecks No. 30 dd. and Sale Agreements for Electricity JSC “INTER RAO UES” (Buyer). including 18% VAT to the November 2, and Capacity amount of 3,993,120 rubles 2009 00 kopecks.

26. Addendum No. 2 to the Paid JSC “OGK-6” (Contractor); JSC “Centrenergyholding” 691,588 rubles 56 kopecks No. 31 dd. service agreement on training CJSC “ARMROSGAZPROM” including 18% VAT to the December 25, no more than 30 (thirty) CJSC (Customer). amount of 105,496 rubles 56 2009 “ARMROSGAZPROM” personnel, kopecks. including work placements at JSC “OGK-6” branch Kirishskaya GRES arranged by JSC “OGK-6”

27. Bilateral Stock Exchange Purchase JSC “OGK-6” (Seller); JSC “Centrenergyholding’’ 40,233,517 rubles 18 kopecks No. 31 dd. and Sale Agreements for Electricity JSC “INTER RAO UES” (Buyer). including 18% VAT to the December 25, and Capacity amount of 6,137,316 rubles 2009 18 kopecks.

28. Voluntary Health Insurance JSC “OGK-6” (Customer); JSC “Centrenergyholding” 9,435,000 rubles 00 kopecks. No. 32 dd. Agreement JSC “SOGAZ” (Contractor). December 31, 2009

29. Bilateral Stock Exchange Purchase JSC “OGK-6” (Seller); JSC “Centrenergyholding” 134,488,121 rubles 12 No. 32 dd. and Sale Agreements for Electricity JSC “INTER RAO UES” (Buyer). kopecks including 18% VAT December 31, and Capacity to the amount of 20,515,137 2009 rubles 12 kopecks.

30. Bilateral Stock Exchange Purchase JSC “OGK-6” (Buyer); Member of the Board of Directors 18,080,809 rubles 60 kopecks No. 32 dd. and Sale Agreements for Electricity JSC “Enel OGK-5” (Seller). M.G. Tikhonova including 18 % VAT to the December 31, and Capacity amount of 2,758,089 rubles 2009 60 kopecks.

31. Bilateral Stock Exchange Purchase JSC “OGK-6” (Seller); JSC “Centrenergyholding” 40,233,517 rubles 18 kopecks No. 31 dd. and Sale Agreements for Electricity JSC “INTER RAO UES” (Buyer). including 18% VAT to the December 25,

Appendices and Capacity amount of 63,000 rubles 00 2009 kopecks.

32. Addendum No. 1 to Service JSC “OGK-6” (Customer); JSC “Centrenergyholding” 80,654,440 rubles 00 kopecks No. 32 dd. agreement on increasing the LLC “Gazprom energyholding” Chairman of the Board of including 18% VAT to the December 31, effectiveness of management (Contractor). Directors amount of 12,303,219 rubles 2009 systems and reducing costs D.V. Fedorov 66 kopecks.

ANNUAL REPORT No. Transaction Names of the Parties Related Parties Value Meeting Minutes in which the Transaction was approved Transactions approved by the General Meeting of Shareholders 33. Liability Insurance agreement for JSC “OGK-6” (Policy holder); All members of the Board of 3,600,000 rubles 00 kopecks. No. 10 dd. members of the JSC “OGK-6” JSC “SOGAZ” (Underwriter). Directors and members of the June 8, 2009 Board of Directors and the Management Board Management Board for liabilities arising as a result of losses incurred to a third party as well as to JSC “OGK-6” as a result of 167 unintentional (erroneous) actions (failures to act) by the Insured parties 34. Agreements on depositing JSC JSC “OGK-6” (Client); Members of the Board of 402,463,013 rubles 70 No. 10 dd. “OGK-6” idle cash in the amount CJSC “Gazenergoprombank” Directors D.V. Fedorov, kopecks. June 8, 2009 of no more than 1,000,000,000 (Bank) Khodursky (one billion) rubles or the equivalent in a foreign currency for each transaction to the maximum amount of 21,040,000,000 (twenty-one billion forty million) rubles or the equivalent in a foreign currency including interest paid on the deposits by the Bank. 35. Agreements on depositing JSC JSC “OGK-6” (Client); Member of the Board of Directors 5,489,625,643 rubles 92 No. 10 dd. “OGK-6” idle cash in the amount “Gasprombank” (Open Joint- A.A. Gavrilenko kopecks. June 8, 2009 of no more than 1,000,000,000 Stock Company) (Bank). JSC “Centrenergyholding” (one billion) rubles or the equivalent in a foreign currency for each transaction to the maximum amount of 21,040,000,000 (twenty-one billion forty million) rubles or the equivalent in a foreign currency including interest paid on the deposits by the Bank. 36. Agreements on maintaining a JSC “OGK-6” (Client); Member of the Board of Directors 26,101,795 rubles 09 No. 10 dd. minimum balance in the JSC “Gasprombank” (Open Joint- A.A. Gavrilenko kopecks. June 8, 2009 “OGK-6” account including Stock Company) (Bank). JSC “Centrenergyholding” interest payments by the Bank, the limit of which shall be 41,000,000 (forty-one million) rubles or the equivalent in a foreign currency. 37. Bilateral Stock Exchange Purchase JSC “OGK-6” (Seller); Members of the Board of 99,090,836 rubles 30 kopecks No. 10 dd. and Sale Agreements for Electricity JSC “TGK-1” (Buyer). Directors A.A. Mityushov, D.V. including 18% VAT to the June 8, 2009 Appendices and Capacity Fedorov, M.L. Khodursky, amount of 15 115 551 rubles JSC “Centrenergyholding” 30 kopecks. 38. Bilateral Stock Exchange Purchase JSC “OGK-6” (Buyer); Members of the Board of 247,845,409 rubles 94 No. 10 dd. and Sale Agreements for Electricity JSC “TGK-1” (Seller). Directors A.A. Mityushov, D.V. kopecks including 18% VAT June 8, 2009 and Capacity Fedorov, M.L. Khodursky to the amount of 37 806 926 JSC “Centrenergyholding” rubles 94 kopecks.

ОGК-6 2009 Appendix 3

JSC “OGK-6” Primary Equipment Characteristics

Table No. 1 — Turbines

Plant No. Turbine Type/Grade Manufacturer Commissioning Installed Capacity, MW Heat Capacity, Gcal/hour 1 2 3 4 5 6 Ryazanskaya GRES 2,960 120 TPB 01 K-300-240 LMZ 1973 260 15 TPB 02 K-300-240 LMZ 1973 270 15 168 TPB 03 K-300-240 LMZ 1974 260 15 TPB 04 K-300-240 LMZ 1974 260 15 TPB 05 K-800-240-3 LMZ 1980 800 30 TPB 06 K-800-240-3 LMZ 1981 800 30 TPB 07 (GRES-24) K-300-240-4 LMZ 1988 310 0 Novocherkasskaya GRES 2,112 75 TPB 01 K-264(300)-240-1 KTGZ 1965 264 15 TPB 02 K-264(300)-240-2 KTGZ 1966 264 15 TPB 03 K-264(300)-240-2 KTGZ 1967 264 15 TPB 04 K-264(300)-240-2 KTGZ 1968 264 15 TPB 05 K-264(300)-240-2 KTGZ 1969 264 0 TPB 06 K-310-23,5-3 KTGZ 2005 264 0 TPB 07 K-325-23,5 KTGZ 2009 264 0 TPB 08 K-264(300)-240-2 KTGZ 1972 264 15 Kirishskaya GRES 2100 826 TPB 01 K-300-240-1 LMZ 1969 300 0 TPB 02 K-300-240-1 LMZ 1970 300 0 TPB 03 K-300-240-1 LMZ 1970 300 0 TPB 04 K-300-240-1 LMZ 1971 300 0 TPB 05 K-300-240-1 LMZ 1973 300 0 TPB 06 K-300-240-1 LMZ 1975 300 0 TP 01Т PT-50-130/7 TMZ 1965 50 110 TP 02Т PT-60-130/13 LMZ 1966 60 139 TP 03Т PT-50-130/7 TMZ 1967 50 110 TP 04Т PT-60-130/13 LMZ 1975 60 139 TP 05Т Р-40-130/13 LMZ 1976 40 164 TP 06Т Р-40-130/19 LMZ 1979 40 164 Krasnoyarskaya GRES-2 1,250 976 TG-1 K-150-130 KTGZ 1961 150 45 TG-2 K-150-130 KTGZ 1962 150 45 TG-4 K-150-130 KTGZ 1963 150 45 TG-5 PT-60-90/13 LMZ 1964 50 145 TG-6 K-160-130 KTGZ 1974 160 42 TG-7 K-160-130 KTGZ 1975 160 42 Appendices TG-8 K-160-130 KTGZ 1976 160 42 TG-9 PT-135/165-130-15 UTMZ 1981 135 285 TG-10 PT-135/165-130-15 UTMZ 1983 135 285 Cherepovetskaya GRES 630 39 TPB 01 K-210-130-3 LMZ 1976 210 13 TPB 02 K-210-130-3 LMZ 1977 210 13 TPB 03 K-210-130-3 LMZ 1978 210 13

LMZ — Leningrad Metal Works, Power Machines Company, KTGZ — Kharkov Turbine Generator Works, Turboatom Scientific and Production Organization, UTMZ — Ural Turbine Works.

ANNUAL REPORT Table No. 2 — Power Boilers

Boiler Boiler Type/ Manu- Commis- Jet Steam Parameters Output, Fuel Grade facturer sioning ton/hour Pressure, Temp, 0С Primary Reserve Starting Plan kgf/cm2 1 2 3 4 5 6 7 8 9 10 11 Ryazanskaya GRES KPB 01 PP-860-255-545 ZIO 1973 255 545 860 Coal — Gas, Fuel oil Coal KPB 02 PP-890-255-545 ZIO 1973 255 545 890 Coal — Gas, Fuel oil Coal KPB 03 PP-860-255-545 ZIO 1974 255 545 860 Coal — Gas, Fuel oil Coal KPB 04 PP-860-255-545 ZIO 1974 255 545 860 Coal — Gas, Fuel oil Coal KPB 05 TGMP-204P TKZ 1980 255 545 2650 Gas Fuel oil Gas, Fuel oil Fuel oil 169 KPB 06 TGMP-204P TKZ 1981 255 545 2650 Gas Fuel oil Gas, Fuel oil Fuel oil KPB 07 Pp– 1000-25-545 (GRES-24) (P-74) ZIO 1988 255 545 1000 Gas — Gas Gas Novocherkasskaya GRES KPB 01 TPP-110 TKZ 1965 255 545 830 Coal Gas Gas, Fuel oil Coal KPB 02 TPP-110 TKZ 1966 255 545 830 Coal Gas Gas, Fuel oil Coal KPB 03А,B TPP-210 TKZ 1967 255 545 415 Coal Gas Gas, Fuel oil Coal KPB 04А,B TPP-210 TKZ 1968 255 545 415 Coal Gas Gas, Fuel oil Coal KPB 05А,B TPP-210А TKZ 1969 255 545 415 Coal Gas Gas, Fuel oil Coal KPB 06А,B TPP-210А TKZ 1970 255 545 415 Coal Gas Gas, Fuel oil Coal KPB 07А,B TPP-210А TKZ 1971 255 545 415 Coal Gas Gas, Fuel oil Coal KPB 08А,B TPP-210А TKZ 1972 255 545 415 Coal Gas Gas, Fuel oil Coal Kirishskaya GRES KPB 01А,B TGMP-114 TKZ 1969 255 545 500 Gas Fuel oil Gas, Fuel oil Fuel oil KPB 02А,B TGMP-114 TKZ 1970 255 545 500 Gas Fuel oil Gas, Fuel oil Fuel oil KPB 03А,B TGMP-114 TKZ 1970 255 545 500 Gas Fuel oil Gas, Fuel oil Fuel oil KPB 04 TGMP-324 TKZ 1971 255 535 1000 Gas Fuel oil Gas, Fuel oil Fuel oil KPB 05 TGMP-324А TKZ 1973 255 535 1000 Gas Fuel oil Gas, Fuel oil Fuel oil KPB 06 TGMP-324А TKZ 1975 255 535 1000 Gas Fuel oil Gas, Fuel oil Fuel oil KP 1Т TGМ-84 TKZ 1965 140 550 420 Gas Fuel oil Gas, Fuel oil Fuel oil KP 2Т TGМ-84 TKZ 1966 140 550 420 Gas Fuel oil Gas, Fuel oil Fuel oil KP 3Т TGМ-84А TKZ 1966 140 550 420 Gas Fuel oil Gas, Fuel oil Fuel oil KP 4Т TGМ-84B TKZ 1974 140 550 420 Gas Fuel oil Gas, Fuel oil Fuel oil KP 5Т TGМ-84B TKZ 1976 140 550 420 Gas Fuel oil Gas, Fuel oil Fuel oil KP 6Т TGМ-84B TKZ 1983 140 550 420 Gas Fuel oil Gas, Fuel oil Fuel oil Krasnoyarskaya GRES-2 1 A,B PK-38 ZIO 1961 140 545 270 Coal — Fuel oil Coal 2 A,B PK-38 ZIO 1962 140 545 270 Coal — Fuel oil Coal 4 A,B PK-38 ZIO 1963 140 545 270 Coal — Fuel oil Coal 5 A,B PK-14 ZIO 1964 140 520 170 Coal — Fuel oil Coal 6 A PK-38 ZIO 1974 140 545 270 Coal — Fuel oil Coal 6 B PK-38 ZIO 1975 140 545 270 Coal — Fuel oil Coal Appendices 7 A,B PK-38 ZIO 1975 140 545 270 Coal — Fuel oil Coal 8 A,B PK-38 ZIO 1976 140 545 270 Coal — Fuel oil Coal 9 A BKZ-420-140PT BKZ 1981 140 560 420 Coal — Fuel oil Coal 9 B BKZ-420-140PT BKZ 1982 140 560 420 Coal — Fuel oil Coal 10 A BKZ-420-140PT BKZ 1983 140 560 420 Coal — Fuel oil Coal 10 B BKZ-420-140PT BKZ 1987 140 560 420 Coal — Fuel oil Coal Cherepovetskaya GRES KPB 01А,B TP(Е)-208-335 TKZ 1976 140 545 335 Coal Gas Gas, Fuel oil Peat KPB 02А,B TP(Е)-208-335 TKZ 1977 140 545 335 Coal Gas Gas, Fuel oil Peat KPB 03А,B TP(Е)-208-335 TKZ 1978 140 545 335 Coal Gas Gas, Fuel oil Peat

ОGК-6 2009 Table No. 3 — Water boilers

Boiler Boiler Type/Grade Manufacturer Commis- Heat Medium Parameters Output, Gcal/hr Fuel sioning Pressure, Temp, 0С Primary Reserve Plan kgf/cm2 Ryazanskaya GRES KV 01 RTVM-30М-4 DKZ 1972 20 150 30 Fuel oil Fuel oil Fuel oil KV 02 RTVM-30М-4 DKZ 1972 20 150 30 Fuel oil Fuel oil Fuel oil Kirishskaya GRES KV 1 KVGM-100 DKZ 1982 16 150 100 Fuel oil Fuel oil Fuel oil 170 KV 2 KVGM-100 DKZ 1987 16 150 100 Fuel oil Fuel oil Fuel oil Krasnoyarskaya GRES-2 KV 2 RTVM-100 Belgorodsky 1973 25 150 100 Fuel oil Fuel oil Fuel oil KV 3 RTVM-100 Belgorodsky 1976 25 150 100 Fuel oil Fuel oil Fuel oil

ZIO — Podolsk Engineering Plant ZIO-Podolsk, TKZ — Taganrog Boiler Factory Krasny Kotelshchik, BKZ — Barnaul Boiler Factory Sibenergomash, DKZ — Dorogobuzh Boiler Factory Dorogobuzhenergomash.

Table No. 4 — Generators

Plant No. Type (Grade) Manufacturer Commissioning Voltage, kV Capacity, MW Excitation System Type

Primary Reserve 1 2 3 4 5 6 7 8 Ryazanskaya GRES HF with SW TGB 01 ТVV-320-2 Power Machines 1973 20 320 ELMASH (surface waves) TGB 02 ТVV-320-2 Power Machines 1973 20 320 HF with SW ELMASH TGB 03 ТVV-320-2 Power Machines 1974 20 320 HF with SW ELMASH HF with EC TGB 04 ТVV-320-2 Power Machines 1974 20 320 ELMASH (exciting current) TGB 05 ТZV-800-2UZ Power Machines 1980 24 800 TIR ELMASH TGB06 ТZV-800-2UZ Power Machines 1981 24 800 TIR ELMASH TGB 07 (GRES-24) ТVV-320-2EUZ Power Machines 1988 20 320 TIR ELMASH Novocherkasskaya GRES

Appendices TGB 01 TGV300 KETM 1968 20 300 TIR ELMASH TGB 02 TGV-300 KETM 1966 20 300 TIR ELMASH TGB 03 TGV-300 KETM 1967 20 300 TIR ELMASH TGB 04 TGV-300 KETM 1968 20 300 TIR ELMASH TGB 05 TGV-300 KETM 1969 20 300 TIR ELMASH TGB 06 TGV-300 KETM 1970 20 300 TIR ELMASH TGB 07 TGV-300 KETM 1971 20 300 TIR ELMASH TGB 08 TGV-300 KETM 1985 20 300 TIR ELMASH

ANNUAL REPORT 1 2 3 4 5 6 7 8 Kirishskaya GRES TGB 01 ТVV-320-2UZ Power Machines 1969 20 300 HF ELMASH TGB 02 ТVV-320-2UZ Power Machines 1970 20 300 HF ELMASH TGB 03 ТVV-320-2UZ Power Machines 1970 20 300 TIR-PS S ELMASH TGB 04 ТVV-320-2UZ Power Machines 1971 20 300 HF with SW ELMASH TGB 05 ТVV-320-2UZ Power Machines 1973 20 300 HF ELMASH TGB 06 ТVV-320-2UZ Power Machines 1975 20 300 TIR-PS S ELMASH TG 1Т ТVF-60-2 Power Machines 1965 6.3 60 ELMASH ELMASH TG 2Т ТVF-60-2 Power Machines 1966 6.3 60 ELMASH ELMASH 171 TG 3Т ТVF-60-2 Power Machines 1967 6.3 60 ELMASH ELMASH TG 4Т ТVF-63-2 Power Machines 1975 6.3 63 ELMASH ELMASH TGB 5Т ТVF-63-2UZ Power Machines 1976 6.3 63 ELMASH ELMASH TGB 6Т ТVF-63-2UZ Power Machines 1979 6.3 63 ELMASH ELMASH Krasnoyarskaya GRES-2 1 G ТV-2-150-2 Power Machines 1961 18 150 ELMASH ELMASH 2 G ТV-2-150-2 Power Machines 1962 18 150 ELMASH ELMASH 4 G ТV-2-150-2 Power Machines 1963 18 150 ELMASH ELMASH 5 G ТVF-60-2 Power Machines 1964 6.3 50 ELMASH ELMASH 6 G ТVV-165-2UZ Power Machines 1974 18 165 HF ELMASH 7 G ТVV-165-2UZ Power Machines 1975 18 165 HF ELMASH 8 G ТVV-160-2ЕUZ Power Machines 2002 18 160 HF ELMASH 9 G ТVV-160-2ЕUZ Power Machines 1981 18 160 TIR ELMASH 10 G ТVV-160-2ЕUZ Power Machines 1983 18 160 TIR ELMASH Cherepovetskaya GRES TGB 01 TGV-200 KETM 1976 15.8 200 BSS with PV ELMASH TGB 02 TGV-200 KETM 1977 15.8 200 BSS with PV ELMASH TGB 03 TGV-200 KETM 1978 15.8 200 BSS with PV ELMASH

Power Machines — Power Machines Company, Electrosila Plant, KETM — Kharkov Electrotyazhmash Factory. Appendices

ОGК-6 2009 the power of cooperation 12 Contact Information

12.1. Company Details 12.2. Contacts for Shareholders and Investors 12.3. Media Contacts 12.4. Auditor 12.5. Registrar

When efforts are combined, the results multiply. Such is the higher mathematics of cooperation. 12

Contact Information

174

12.1. Company Details Full company name: Open Joint-Stock Company Sixth Wholesale Power Market Generating Company Abbreviated company name: JSC “OGK-6”

Taxpayer ID 6164232756 Tax Registration Reason Code 616401001 Industry Code by All-Russian Classifier of Governmental Authorities 41002 All-Russian Classifier of Businesses and Organizations 76928058 All-Russian Classifier of Economic Activities 40.10.11

Bank details: Full company name of the credit organization: Gazprombank (Open Joint-Stock Company) Abbreviated company name of the credit organization: GPB (OJSC) Location: Bldg. 1, 16 Nametkina St., Moscow, 117420 Taxpayer ID: 7744001497 BIC: 044525823 Credit organization’s correspondent account number: 30101810200000000823 Account type: settlement Account number: 40702810200000003837

General Director: Aleksey Alexandrovich Mityushov

Chief Accountant: Bary Zakievich Dolgoarshinnykh

Address: Bldg. 3, 101 Prospekt Vernadskogo, Moscow, 119526 Website: www.ogk6.ru Contact Information

12.2. Contacts for Shareholders and Investors Ivan Vladimirovich Troinikov (Head of Corporate Governance Department) Tel. /Fax: (495) 428-53-45, e-mail: [email protected]

For issues related to General Meetings of Shareholders: Alexey Mikhailovich Gusev (Corporate Secretary) Tel. /Fax: (495) 428-53-45, e-mail: [email protected]

ANNUAL REPORT 12.3. Media Contacts Dmitry Evgenyevich Filatov (Manager of the Board of Public Relations and Media Affairs) Tel.: (495) 428-53-07, e-mail: [email protected]

12.4. Auditor Full company name: Closed Joint-Stock Company KPMG Abbreviated company name: ZAO KPMG Location: Office 3035, 18/1 Olimpiysky Prospekt, Moscow, 129110 Mailing address: Floor 31, Building C, 18 Krasnopresnenskaya Embankment, Moscow, 123317 Tel.: (495) 937 44 77, fax: (495) 937 44 99 e-mail: [email protected] 175 www. kpmg.ru

Certificate of State Registration of Joint-Stock Company No. 011.585 issued by the Moscow Registration Chamber on January 25, 1992. Certificate of Entry in the Unified State Register of Legal Entities No. 1027700125628 dd. August 13, 2002 issued by Interdistrict Inspectorate of the Russian Ministry of Taxes and Duties No. 39 for Moscow. Certificate series 77 No. 005721432

Auditor License: License No. Е0003330 Issued on January 17, 2003 by the Russian Ministry of Finance Valid until January 17, 2013

12.5. Registrar Information on the organization which registers the rights of the issuer to equity securities:

Full company name: Open Joint-Stock Company Central Moscow Depository Abbreviated company name: JSC CMD

Location: Bldg. B, 3 Orlikov Lane, Moscow, 107078 Mailing address: Bldg. 8, 34 B. Pochtovaya St., Moscow, 105082 Tel.: (495) 221-13-34, 221-13-30, 221-13-33, fax: (495) 221-13-83 e-mail: [email protected] www.mcd.ru

Registrar License: License No. 10-000-1-00255 issued on September 13, 2002 by the Federal Committee for the Securities Market Valid for an indefinite period of time.

Date from which the Register of the issuer’s registered securities has been kept by the specified Contact Information registrar: July 20, 2005.

ОGК-6 2009