ENERGY BEYOND BORDERS 2010 JSC
Light Heat Energy INTER RAO UES ANNUAL REPORT ANNUAL REPORT JSC INTER RAO UES
2010 The Report was provisionally approved by the Board of Directors of JSC INTER RAO UES on May 16, 2011 and was submitted for approval by the annual Gen- eral Meeting of Shareholders of the Company to be held on June 24, 2011
Chairman of the Management Board B.Yu. Kovalchuk
Chief Accountant A.O. Chesnokova Table of contents
Address of the Chairman of the Board of Directors of JSC INTER RAO UES ...... 7 Address of the Chairman of the Management Board of JSC INTER RAO UES ...... 8
Information about the Company and its position in the industry...... 10 General information about JSC INTER RAO UES...... 11 Brief history of the Company ...... 11 INTER RAO UES IN 2010...... 13
Share capital and shareholders of the Company...... 15
Corporate governance structure and principles...... 25 Principles and documents...... 26 Disclosure of information...... 28 Management and control...... 29 Information about members of the Board of Directors...... 33 Executive bodies...... 44 Actual members of the Management ...... 46 Revision commission ...... 56 Auditor...... 59 Organigram of JSC INTER RAO UES...... 60
Main issues of Company strategic development...... 62 Mission...... 63 Vision (2020)...... 63 Strategic objectives...... 64 Main trends of development...... 64
Activity...... 66 Production activities...... 67 Trading and Sales. Trading-purchasing activity by market sectors...... 73 Foreign economic activity...... 76 Foreign assets management activity...... 77 Investment activities of JSC INTER RAO UES in 2010...... 80 Main financial results for 2010...... 81
Sustainable development...... 86 HR and social policy...... 87 Charity...... 90 Environment protection...... 90 Purchase activities...... 94
Factors and risks influencing the Company activity...... 97
Division of profits and dividend policy...... 104
Annex...... 106 Report of revision commission of JSC INTER RAO UES...... 107 Report of independent auditor of the Company...... 108 Accounting reports of JSC INTER RAO UES as for 12.31.2010...... 111 Observance of the Corporate Code of Conduct by JSC INTER RAO UES..... 125 List of major and interested party transactions made by JSC INTER RAO UES in 2010...... 134 Information about JSC INTER RAO UES equity transactions made by members of JSC INTER RAO UES executive bodies...... 164 Glossary...... 167 Contact information of JSC INTER RAO UES ...... 168 Branches registered by JSC REGISTRATOR R.O.S.T...... 169
— from fuel fuel — from market power of key sectors all in positions top occupying holding power adiversified to create aims RAO INTER company. the of value shareholder of growth — long-term nally, fifth fi and innovations, of implementation and efficiency power of — enhancement fourth sector, power Russian in leadership inforcing — re safety, third energy — ensuring second abroad, and Russia in interests business of — extension first involves: It to 2015-2020. up development Company’s of Strategy the approved Directors of Board 2010 the ber Decem In tasks. ambitious challenging has Company the that to emphasize like I would responsibility. a special bearing time same the at and opportunities ample ing fac players market major the of one into RAO INTER turns step year. last This 30 September on signed was capital Charter to the stake state-owned Russia's of UES RAO of ference trans on Decree President’s The velopment. de RAO INTER of trend further determined mainly that events important 2010 witnessed shareholders! Dear OF JSCINTERRAOUES OF THEBOARDDIRECTORS ADDRESS OFTHECAIRMAN ------sure to state this. to state sure quite to be me permits hands your in holding are you report the in 2010.ket in Information mar the in foothold asolid gained company The generated. energy of volume total by the leader world’s the into company a regional from turn shall RAO INTER years ten Within position. RAO’s international INTER of strengthening to contribute shall technologies innovation of exchange and contractors foreign with relations trade of Development capacities. generating new of building including ments, commit investment of fulfillment activities, operation of enhancement performance sia, Rus in generation power in growth are: future 2011 for RAO’spriorities key INTER Among development. long-term and a sustainable ensure will activities business of versification di industrial and Geographic America. Latin and Europe Africa, Asia, including expansion foreign active support shall Company The generated. energy of volume total the by companies ten top world’s the among be shall Company the years ten In trading. and distribution to energy supply and production - - - - of JSC INTER RAO UES RAO INTER JSC of Directors of Board the of Chairman S Igor ec h in ,
7 ANNUAL REPORT JSC RAO UES / 2010 8 ANNUAL REPORT JSC RAO UES / 2010 set up by INTER RAO and an Australian com Australian an and RAO INTER by up set branch. A joint engineering venture production of of development framework the within plants gas industrial of and service high performance on Electric assembly, marketing joint production, General corporation and poration multinational ment with State the Technologies Cor Russian In 2010 December INTER RAO an signed agree tion of innovations and shareholder value growth. safety, enhancing power efficiency, implementa tions in Russian power industry, ensuring energy posi leading obtaining abroad, and Russia in Company strategy aimed at expanding business In 2010 we began practical implementation of the world with leading market players were signed. alliances strategic building on agreements of number a and determined was development tered into the operation, Strategy of RAO INTER en were capacities new implemented, were companies affiliated of programs investment Decree; President’s the with accordance in stake to transferred state-owned the Company aimed at of processes corporate integration the of basis for growth further the value Company’s In 2010 were great efforts made to build up a firm Dear shareholders! Dear OF JSCINTERRAOUES OF THEMANAGEMENTBOARD ADdRESS OFTHECAIRMAN ------Abovyan substations. substations. Abovyan intoput Echmiadzingraded operationand and affiliate CJSC Electric Networks of Armenia up Russian Russian the the outside generation power developed ship with partner in gas ofinstead coal use to switched thirdthe of unit Kashira GRESpower plantwas CH security of the region. A new power unit at Tyumen energy ensuring ofand KaliningradtheRegion the 450 MW, was commissioned within the scope of unit of Kaliningrad thermal power plant (TPP-2), operation. In late the secondpower December 2010 a number of new power plants were put into sphere of wind and thermal power generation. In wasp.A. signed to cooperation inestablish the larly, a Memorandum of Intent with Italian ENEL S. efficiency spheres were also developed. Particu energy and energy alternative in Partnerships sectors. service and engineering in Companies of Group Russian in stake controlling a buy to 2010in July was closed deal another Besides, into the market. technologies Russian gineering power to en electric September modern bring in registered also was WorleyParsons pany P-1 was taken into commercial operation and F ederal Target Program for the Development F Q ederation: in early 2010 INTER RAO’s uartz Group uartz of Companies. We also Q uartz, one of uartz, the leaders Russian - - - - 5.13% and the Company’s revenue grew by by grew revenue Company’s the and 5.13% to 4.58% from increased margin operating year the of end the At RAO. INTER of results financial improve to allowed which structure, expenditure the at optimizing aimed measures of complex a implemented was there 2010 In market. user end the cemented place Company’s in significantly has which in RAO panies INTER management, the transferred of assets six power com supply Rus 2010 August In well. as Russia in business of scope our enlarged we Besides, UAE. and Ecuador in to decided offices Cuba, open representative Directors of Board RAO INTER development and develop new lines of prospective business control over operational abroad assets enhance to order In year. last Turkeystarted to exports power electric and prolonged were Mongolia to exports power electric for Contracts RAO. INTER of participation the with signed were companies power Ukrainian with Cooperation of Memorandum a and systems power khstan Kaza and Russian the of operation parallel of package for complete agreements securing a 2010 In holding. RAO INTER of priorities gic abroad is business one of Development strate H ydro ydro - - - 31.09% amounting to RUR 61.39 bln. In 2010 2010 In bln. 61.39 RUR to amounting 31.09% fessional training and personnel development. development. and personnel training fessional pro to attention careful pay will company The ing are innovations our keyfor this priorities year. and encourag efficiency operational enhancing governance, of new system corporate forming sources, energy purchasing services, saving system and power energy distribution Increasing facility. power any of ment services of complex capable a providing scope whole of full-service an work engineering on establishing In 2011 RAO’s INTER will continue management year. this bln 45 RUR of it is which to expected about spend support of projects, for investment with implementation proceed will We maintenance. and struction recon modernization, technical of programs complex approved be will there particular, In units. production at all key of the priorities one remain will safety operational and Security group. the inside the and opportunities synergy maximize of ensure an management new effective assets to challenge the facing are executives pany’s Com The emerge. will markets and services the will increase. New holding trends of activity, of this year completed the market capitalization be will which shares of issue additional of sult re a As us. for tasks new 2011sets year The payment. dividends of issue the consider to shareholders the offered pany On the basis of results the Com financial annual abroad. power electric of consumers main were Lithuania bln. 29.02 RUR to amounted and 30.38% by increased trade foreign from enue rev the 2010 of end the in sector: trading in growth witness also We (24%increase). ergy en thermal of Gcal ths. 272.7 1 and 2009), in than less 7.9% power electric of kWh mln. 8979.1 generated plants power RAO’ INTER — from design planning to manage to planning design from — F inland and and inland ------of JSC INTER RAO UES RAO INTER JSC of Board Management the of Chairman Boris K Boris users. to end power and to power generation engineering marketing equipment production, fuel from stages: all at markets Russian and international in value shareholder maximizing process management asset overall effective in assets of integration of full the are management Company ensuring the for challenges key The ahead. still is lot a but 2010, in done was work Considerable purpose. this for spent be will UES RAO INTER JSC of capital charter year.this launched More than 2% of increased for program optional top will also be managers An of the effects cumulative activities. company into employee each of contribution actual the on based system recognition and reward new a implementing is 2011 for plans our Among success. our of key elements the of one are of growth professional RAO’s INTER employees and Development company. the of position and of strong competitive market capitalization increase ensure can personnel motivated and professional Only highly truly corporation. global will lenges allow INTER RAO to as itself a position The rise and in of the business chal complexity o v alc h uk , -
9 ANNUAL REPORT JSC RAO UES / 2010 Information about the Company & its Position in the Industry
1.1 1. 2 1. 3 General Information BRIEF HISTORY OF THE INTER RAO UES IN 2010 about JSC INTER RAO COMPANY 1 UES affiliate affiliate of JSC RAO UES of RUSSIA. CJSC INTER RAO UES was established as 100% 1997: JSC INTER RAO UES ENGLISH: ABBREVIATED CORPORATENAMEIN РАООАО «ИНТЕР ЕЭС» SIAN ABBREVIATED CORPORATE NAME IN RUS- UES RAO NTER Company Stock Joint Open FULL CORPORATENAMEINENGLISH РАО ЕЭС» «ИНТЕР общество акционерное Открытое FULL CORPORATENAMEINRUSSIAN: 002387411 No. 23 Series REGISTER OFLEGALENTITIES: CATE OFENTRYINTOTHEUNIFIEDSTATE SERIES ANDNUMBEROFTHECERTIFI- 1.2 1.1 OF THECOMPANY BRIEF HISTORY about JSCINTERRAOUES General Information of electric power generated at Ignalina NPP NPP Ignalina at generated power electric of supply was project major first The launched. been have export power electric on projects 2001: into the Uniform State Register of Legal Entities: entry of Certificate the of number and Series of Russia in Sochi of the Krasnodar Region (3) Levies and Taxesof Ministry the of Inspection into the Uniform State Register of Legal Entities: entry of Certificate the in stated data the with Name of the registration authority in accordance November 01, 2002 STATE REGISTRATIONDATE: (OGRN): 1022302933630 Entity Legal a of number registration state Primary STATE REGISTRATIONINFORMATION: 123610 Russian the Moscow, 7, dyezd Po 12, Naberezhnaya Krasnopresnenskaya LOCATION OFTHECOMPANY: F ederation, ederation, - — electric power production. power — electric ment ergo OJSC) and develop new started business (Orenburgen GRES Iriklinskaya at unit power a lease on took it Russia; from power electric of export independent started Company the 2002: have power markets foreign established. been Region. Kaliningrad the and Belarus of Republic the to (Lithuania) JSC INTER RAO UES is aimed at establishing a activities and energy efficiency. The strategy of including fuel business, engineering, investment business, of trends new developing also and presence in generation and distribution sectors 20 bln kWh. The group is actively increasing its over was 2010 of end the by operations trade power.of electric import ofvolumeforeign The and export of area the in Russia in positions leading retains Company The countries. eign for 27 in and Russia in industry power electric of sectors various in working holding power electric diversified a is UES RAO INTER JSC 2010 was over 18,000 MW. 31, December for as Group UES RAO INTER by managed and owned plants power electric in world power market. The installed capacity of global power company Series Series 23 No.002387411 F irst affiliated companies in companies irst affiliated
— one of the key players - - -
11 ANNUAL REPORT JSC RAO UES / 2010 12 ANNUAL REPORT JSC RAO UES / 2010 as well as in potential neighboring markets. neighboring potential in as well as market Turkish the in projects investment joint of implementation and operations commercial its toexpand order in Enerji TGR company ish CJSC RAO INTER UES 70% purchased of Turk 25%chased + 1 TPP. share in JSC North-West davian GRES. CJSC RAO INTER UES also pur Mol CJSC purchased group UES RAO INTER up. set was JSC Sangtuda-1 venture joint Tadjik-Russian ownership. into shares of Power GRES-2 JSC Ekibastuz Station 50% obtained UES RAO INTER CJSC power electric received the for companies khstan's of debts Kaza of settling the framework within 2005: F in structures business Oy Nordic RAO UES RAO INTER CJSC of affiliate trading a 2004: abroad. assets power of ing Market). The active initiated Company purchas ( by organized purchase power excess on in tenders RAO UES part took INTER CJSC country. the in producers power electric largest two the of operator import and export unified a came abroad power electric supplying of field the in capacities of Company’s increase to led event a significant this capital share of structure the in changes to was sold UES RAO INTER of CJSC shares 40% 2003: F ederal all-Russian Wholesale Electric Power Power Electric Wholesale all-Russian ederal F SUE concern Rosenergoatom. Besides Besides Rosenergoatom. concern SUE
— CJSC INTER RAO UES be UES RAO INTER CJSC — — became one of the major major the of one became — inland. F OREM OREM H PP — ------TPP as part of CJSC INTER RAO UES. A general Generators),JSCKaliningrad TPP-2, JSCSochi Ivanovo( PGU generatingNorth-WestassetsJSCofTPP, JSC consolidatetotakenwaspowerdecision The 2007: UES. RAO INTER Interenergo to Armenia of sell 100% Networks of shares Electric CJSC to permission granted Armenia of Republic of the Commission Regulatory Services Public 2006: Lithuania. to supply power electric on contract 10-year second the into entered UES RAO INTER JSC executive body of JSC OGK-1 to the Company. sole the of powers the delegate to contract a OGK-1signed JSC and UES RAO INTER JSC index. EM MSCI in included were shares UES RAO INTER JSC 2009: company. the of shares 100% consolidated UES RAO INTER JSC shares GRES davskaya Mol CJSC of 49% purchasing of result a As exchanges. stock Russian on traded were TPP-2. JSC Kaliningrad The shares Company’s and PGU, Ivanovo TPP,JSC North-West JSC TPP, Sochi JSC affiliates with UES RAO INTER CJSC INTER RAO UES was into reorganized JSC 2008: its further affiliation to JSC Sochi TPP. UES by forming JSC INTER RAO UES the decision taken to reorganize JSC INTER RAO meeting of shareholders was held where there was H RSG
— — an affiliate of CJSC CJSC of affiliate an — H eat RecoverySteameat H olding with - moved into adjacent businesses, particularly particularly businesses, adjacent into moved and developed rapidly UES RAO INTER JSC by 2020. market power electric international the on players ten to strategy opment enter challenging world’s top JSC RAO INTER UES devel approved mid-term 2010: of took management 16.25% shares of TGK-11. of TGK-11 RAO UES JSC INTER LLC. Besides, shares 29.9% purchased CJSC) Capital RAO CJSC INTER RAO UES (later Baltia renamed into issue of shares. of issue additional of framework the within evaluated also were Company the of capital charter the to contributed Power assets vate subscription. by of pri shares issue additional a large-scale of JSC Shareholders INTER RAO UES approved WorleyParsons. and S.p.A. Electric, General including alliances engineering machine power world leading the with up set ventures joint several were There closed. was Russia, in leaders service and engineering of one Companies, of purchase the on deal The engineering. machine power and engineering Q uartz Group of of Group uartz F enice enice - - Armenian NPP(Armenia) Affiliates ofINTERRAOUES: M Total foreignassets Sangtudinskaya HPP-1JSC International EnergyCorporation(Sevan-HrazdanCascadeofPPsinArmenia) Khrami HPP-2(Georgia) Khrami HPP-1(Georgia) Mtkvari TPP(Georgia) Moldavskaya GRES(Moldova) Ekibastuzskaya GRES-2PowerStation(Kazakhstan) Total assetsinRussia TGK-11 OGK-1 (includingNizhnevartovskayaGRES) G 1.3 Foreign Assets(installedcapacity) Russian Assets(installedcapacity) enerating anagement Ivanovskiye PGU Kaliningradskaya TPP-2 Severo-Zapadnaya TPP Sochinskaya TPP C
and apacities C ontrol IN 2010 INTER RAOUES
under INTER RAO UES 6 402.2MW 14 195MW 114.4 MW 112.8 MW 2 520MW 1 000MW 2 283MW 2 051MW 9 861MW 670 MW 561 MW 600 MW 815 MW electric power was electric more than 21 bln KWh/year. exceeded 18holding GW, volume of produced the of capacity generating total the 2010 end of As Armenia. and Moldova Georgia, khstan, Kaza Russia, in based plants power hydro UES 24 include one thermal, nuclear, and three RAO INTER JSC of assets generating Power -
13 ANNUAL REPORT JSC RAO UES / 2010 14 ANNUAL REPORT JSC RAO UES / 2010 Electric poweroutput,mlnkWh Long-term obligations,mlnRUR Short-term obligations,mlnRUR ROA, % ROE, % EBIT asprofitability,% Net profit,mlnRUR Earnings beforetax,mlnRUR Sales profit,mlnRUR Revenue, mlnRUR,including Payroll staff,persons Specific consumptionofconditionalfuel,year/kWh Installed CapacityUtilizationFactor,% Heating energyoutput,thsGkal KEY FIGURES Production figuresin2010 other domestic distributionofelectricpower electric powerexport 1 272.7 8 979.1 30 765 29 017 61 393 20 430 22 470 1 612 2 371 245.3 2 704 3 319 3 147 2.2 3.8 9.4 57 ten energy market players. market energy ten top world’s the toamong be Company the low to GW 40 al reach by expected 2015.will This is UES RAO INTER by owned plants power of capacity installed total the generation of field the in implementation strategy of result the As in generation the and Russian foreign markets. in growth ment involves the further sector of heat of RAO strategy UES The develop JSC INTER - - Share Capital and Shareholders 2 of the Company registered registered the and issue a of prospectus regis At the annual General meeting of JSC INTER INTER JSC of meeting General annual the At share. per hundred-millionth) seven sixty and hundred seven thousand, nine and hundred value nominal RUR 0.02809767 (two eight million and shares with the thirteen) registered ordinary five eight hundred forty million thousand thirteen hundred one billion four seventy hundred two 2 into 274 divided was 113 013 845 trillion (two nine one hundred one)seventy thousand and it six million hundred forty nine and point sixty fifty hundred three thousand hundred three million seven ninety hundred eight billion three (sixty 1,uary 2010 was RUR 63 897 359.60641971300 of Charter capital JSC INTER RAO UES as of Jan the amount the of amount 618 913 525 216 with the nominal in UES RAO INTER JSC of shares uncertified ordinary registered issuing of results the on 23, September 2010 on held placement of results the to According — 1-03-33498-E-001D. issue the of state number registration private sub-scription, RAO INTER Company UES (Moscow) placed by shares of Joint Stock tered uncertified ordinary The (ROSIMUS F and the the Russian Rosatom Corporation the Energy State Atomic ( eign Affairs Economic the Bank for Corporation and Development are in private the subscription Participants State terms following the Shares) on the as of JSC RAO INTER referred UES to(hereinafter shares uncertified ordinary registered ditional ad by UES RAO placing of INTER JSC capital charter the to taken increase was decision the RAO held on UES June shareholders 25, 2009, ederal Agency for State Property Management ederal Agency for Management State Property scription. shares placing of Shares Method placed Nominal valuepershare —RUR0.2809767; of 1 600000000; amount The F ederal ederal H F C inancial Markets Service ( Service Markets inancial H EST FF V F ederation represented by represented ederation O). V MS MS registered the Report NES H — by private sub- private by — ECONOMBANK), ECONOMBANK), FF MS) F or — - - - -
16 ANNUAL REPORT JSC RAO UES / 2010 rubles and/or the following property (list of and/or the rubles property prop- following 5. UES before the date of Shares placement. by the Board of Directors of the JSC INTER RAO have rights to preference shares) was determined price of shares placement for shareholders who 4. The price of Shares placement (including the scription. 3. of Method Shares placement ruble). lionth mil hundred seven sixty and hundred seven thousand nine and hundred eight million (two 2. value per Nominal share shares. billion) hundred eight trillion (thirteen 000 000 1. of shares placed The quantity UES (hereinafter RAO INTERJSC sharesofuncertified ordinary UES by placing an additional issue of registered increasecharterthecapitalINTER ofJSCRAO held on June 25, 2010, the decision was taken to AnnualGeneraltheMeetingAtshareholdersof assets. power of anumber to purchase order of in the Company capital the charter creasing in on decisions made shareholders 2010 In shares. 370 229 027 893 2 of amount the in 0.02809767 RUR value share nominal the with shares ordinary into divided was and 349.66226643 328 287 81 RUR was UES RAO INTER JSC of capital the ance with the charter alterations registered accord In 11,2010. October on Moscow for the of ate were capital registered by Inspector Interdistrict UES into taking the account in increase charter in the of Amendments Charter JSC RAO INTER subscription. share value RUR 0,02809767 placed by private F orms orms of payment for shares placed are cash F ederal Tax Service of Russia № 46 46 № Russia of Tax Service ederal
— Shares) on the following terms: — RUR 0.02809767 — private sub — 13 000 800 - - - - - UES), OGRN: 1024701893336;UES), OGRN: (JSC System Energy of Unified Company 5.1 Shares of the following stock companies: stock 5.1 following the of Shares Shares): placed for to up pay erty Generation Company of Company Electrici Generation the Wholesale Second the Company Stock Joint 5.1.4 Open (JSCMarket OGK-1), 1057200597960; OGRN: on Company Energy Generating the Wholesale Company Stock Joint 5.1.3Open 5.1.2 Company Stock Joint Open (OGRN): 1042401810494; Entity Legal the of number tration Rus Company Stock Joint Open 5.1.1 Generating Company №9 Company Generating (JSC TGK-9), OGRN: Territorial Company Stock 5.1.15 Joint Open TGK-7), JSC 1056315070350; TGK, OGRN: (JSCCompany Territorial Generating 5.1.14 Company Stock Joint Open 1055230028006; №6 Company (JSCGenerating TGK-6), OGRN: Territorial Company Stock 5.1.13 Joint Open 1056882304489; (JSC Company Generating Company Stock 5.1.12 Joint Open (OAO MOSENERGO), OGRN: 1027700302420; “MOSENERGO” Electrification and Industry Power of Company 5.1.11 Joint-Stock Open 1057601091151; №2 Company (JSCGenerating TGK-2), OGRN: Territorial Company Stock 5.1.10Joint Open 1057810153400; №1Company Generating (JSC TGK-1), OGRN: Territorial Company Stock Joint 5.1.9Open 1056164020769; (JSC OGRN: OGK-6), Power Company Market Wholesale Generating Sixth the Company Stock Joint 5.1.8Open 1046604013257; OGRN: OGK-5), Enel (OJSC OGK-5 Enel Company Stock 5.1.7Joint Open (JSCMarket” OGK-4), OGRN: 1058602056985; Electricity Wholesale the of Company eration 5.1.6 Open Joint Stock Company the Market (JSC OGK-3), OGRN: 1040302983093; Electricity Wholesale the of Company eration 5.1.5 Open Joint Stock the Company Third Gen ty Market (JSC OGK-2), OGRN: 1052600002180; Rus (JSC dro H do, rmr sae regis state Primary ydro), Q uadra), OGRN: OGRN: uadra), F V F F ederal Grid Grid ederal V Q ourth Gen ourth olghskaya olghskaya irst Power Power irst olghskaya olghskaya uadra F H GC GC — y - - - - - al Generating Company №14 (JSC TGK-14),№14(JSC Company Generating al Territori Company Stock Joint 5.1.20Open Yeniseyskaya TGK-13), OGRN: 1051901068020; (TGK-13,Company Territorial Generation OJSC 5.1.19 Open Joint Stock Yeniseyskaya Company 1024200678260; OGRN: (JSCCompany KUZBASSENERGO), trification 5.1.18 Power The Kuzbass Joint-Stock and Elec 1055406226237; №11Company Generating (JSC TGK-11), OGRN: Territorial Company Stock 5.1.17 Joint Open F 5.1.16 Open Joint Stock Company 1045900550024; 1062224065166; OGRN: Altaienergosbyt); Altai (JSC Company energosbyt Stock Joint Open 5.1.30 OGRN: 1057746557329; Mosenergosbyt), (JSC ergosbyt Mosen Company Stock Joint Open 5.1.29 1057812496818; OGRN: Company), Sales Power (JSCSales Company Petersburg Power Petersburg Company Stock 5.1.28Joint Open 1097746376793;pany), OGRN: (JSCSales Company Power Unified Sales Com 5.1.27 Open Joint Stock Power Unified Company 1062309019805; pany), OGRN: erating (JSCCompany Com Kuban Generating 5.1.26 Open Joint Stock Kuban Company Gen 1026402199636; Saratovenergo), OGRN: (JSCSaratovenergo and Electrification Industry Power for Company Joint-Stock 5.1.25Open 1020202769146; OGRN: Bashkirenergo), (JSC Bashkirenergo Com Electrification and Joint-Stock Industry Power for pany Open Bashkir 5.1.24 1025403195674; OGRN: SKENERGO), (OJSC NO and Electrification gineering 5.1.23 Open Joint Stock of Company Power En 1023801003313; OGRN: Irkutskenergo), (JSC Company Distribution and Generation 5.1.22 Open Joint Stock Power Irkutsk Company 1087760000052; East), OGRN: the System of the East (JSC RAO Energy System of 5.1.21 Open Joint Stock RAO Company Energy 1047550031242; OGRN; ortum), OGRN: 1058602102437; OGRN: ortum), F ortum (JSCortum V OSIBIR------5.1.31 Open Joint Stock Company Tambov Power Sales Company (JSC Tambov Power Sales Company), OGRN: 1056882285129; 5.1.32 Open Joint Stock Company Tomsk Power Sales Company (JSC Tomsk Power Sales Com- pany), OGRN: 1057000128184; 5.1.33 Open Joint Stock Company Kuban Pow- er Sales Company (JSC Kubanenergosbyt), OGRN: 1062309019794; 5.1.34 Closed Joint Stock Company Novosibir- skenergo (CJSC Novosibirskenergo), OGRN: 1045401912401; 5.1.35 Open Joint Stock Company TGK- 11 Holding (JSC TGK-11 Holding), OGRN: 1087760000063; 5.1.36 Open Joint Stock Company Tomskener- goremont (JSC Tomskenergoremont), OGRN: 1057000128107; 5.1.37 Open Joint Stock Company EnergoMashi- nostroitelny Alliance (PJSC EMAlliance), OGRN: 1055014708297; 5.1.38 Open Joint Stock Company “Design- ing, Surveying and Research Institute “Hydro- project”, named after S.Y. Zhuk” (JSC Institute Hydro project), OGRN: 5087746440766; 5.1.39 Open Joint Stock Company Sangtu- dinskaya HPP-1 (JSC Sangtudinskaya HPP- 1), location — Republic of Tajikistan, 734033, Dushanbe, Shestopalova St., 2a; 5.1.40 Open Joint Stock Company Razdanskaya Power Company (RazTPP), (JSC RazTPP), location: 378550, Republic of Armenia, Kotayksky Marz, Razdan, Hortzaranain St., Razdanskaya TPP; 5.1.41 Open Joint Stock Company United Energy System GruzRosenergo (JSC UES GruzRosen- ergo), location: Georgia, 0159, Tbilisi, Marshal Gelovani St.,2; 5.1.42 Stusara N.V., a company registered under the Law of the Kingdom of the Netherlands, reg- ister № 34256034, address: Fred. Roeskestraat 123, 1076EE, Amsterdam, The Netherlands; 5.1.43 RES Holdings B.V., a company registered under the Law of the Kingdom of the Nether- lands, register № 34246824, address: Fred. Roeskestraat 1231hg, 1076EE Amterdam, The Netherlands. 18 ANNUAL REPORT JSC RAO UES / 2010 OGRN: 1087746560197;OGRN: A (JC ROSNE 1047796902966; (OJSC GAS ROSNE Company Stock Joint 7.6Open gy Ener of Index Company Liability 7.5Limited Rus 7.4 Open Joint Stock Rus Company F 7.3 Index Company of Liability Limited Energy 1024701893336;UES), OGRN: (JSC System Energy United of Company Company Stock Joint Open 7.2 (Rosimushchestvo); F 7.1 The the Russian purchasers): Shares (potential holders stake following the to offered be to 7. Shares (CJSC evaluation” IBC), OGRN: 1037743018576. investments, Consultations, Center: Business 6.7 Joint Closed Stock “International Company 1037739271701;BDO), OGRN: 6.6 Joint Closed Stock “BDO” Company (CJSC F ing Audit Company and Consult 6.5 Liability Limited 1047796989679; LLC), OGRN: Consulting Pacioli (Nexia sulting Nexia Company Pacioli 6.4 Con Liability Limited 1027800561458; (LLC IPP), OGRN: Studies” Entrepreneurial for Institute “The Company Liability Limited 6.3 1027700125628; KPMG), OGRN: 6.2 Joint Closed Stock KPMG Company (CJSC 1027700425444; OGRN: CIS), Touche and Deloitte (CJSC CIS Touche and Deloitte Company Stock Joint 6.1Closed placed: Shares for payment for used market evaluating that price of can be property hired for with appraisers agreements ployment 6. of Names who entered legal entities into em 1047796118182. OGRN: (LLC RN-Energo), RN-Energo Company of capital Liability Limited 5.2 Share (shares, of part a share), in the charter droOGC), OGRN: 1087746560131;droOGC), OGRN: ederal Agency for State Property Management ederal Agency for Management State Property GC UES” GC (LLCUES” of Index energy irm TOP-AUDIT), OGRN: 1027739441553; OGRN: TOP-AUDIT), irm — F H irm TOP-AUDIT” irm (LLC TOP-AUDIT” Aud and Consulting ydro), 1042401810494; OGRN: H energy of Index (LLC ydroOGC F ederation represented by represented ederation F TEGAS), OGRN: OGRN: TEGAS), — F ederal Grid Grid ederal H F ydro ydro (JSC GC GC UES), — F F H TE GC GC — y------1027700091286; OGRN: Capital), RAO INTER (CJSC Capital RAO INTER 7.11 Company Stock Joint Closed 1087760000052; East), OGRN: the of System Energy RAO (JSC East the of System Energy RAO Company Stock 7.10 Joint Open 1077746098495; OGRN: Neft-Activ), (LLC Neft-Activ Company Liability 7.9Limited 1027700043502; OGRN: Rosneft), OC (OJSC Rosneft Com pany Oil Company Stock Joint Open 7.8 1077799032926; OGRN: Rosatom), Corporation Ro (State satom Corporation Energy Atomic State 7.7 ditional shares. In with ditional the accordance decision 12.28.2010 №36) the price of of placement ad dated (protocol determined UES RAO TER IN JSC of Directors of Board 12.27.2010 the — 1-03-33498-E-002D. issue the of number placed by state registration private subscription, (Moscow), UES RAO INTER Company Stock Joint of shares uncertified ordinary registered of prospectus a and issue an registered 2010 Russia) by taken the on decision 16,November F Cyprus. Larnaca, P.C6018, Building, Karapatakis 1, of register № Cyprus, 148237, address; Naousis, № registered Cyprus, of the Law of under the Republic pany registered 7.16 1027700076513; OGRN: AGANA), MC (LLC AGANA Company Management Company Liability 7.15 Limited (GPB (JSC)), 1027700167110; OGRN: 7.14 (Open Joint Gasprombank Stock Company) 1020202555240; OGRN: Bashneft), JSOC (JSC Bashneft Company Oil Joint-Stock Company Stock 7.13Joint Open OGRN: Invest), RAO 1087746984490; INTER (LLC Invest RAO INTER Company Liability 7.12 Limited pany registered under the Law of the Republic the Law of under the Republic pany registered 7.17IN AUBURN Cyprus; Limassol, 14, Zakaki, Amorgou ederal Service for ederal Service V ADI F IN CONSULTING LIMITED, a com a LIMITED, CONSULTING IN V ESTMENT LIMITED, a com a LIMITED, ESTMENT F inancial Markets ( inancial H E 203767, E address: F S F M of ------ of Directors of of Directors JSC RAO INTER UES as follows: Board the by determined be shall purchased securities for payment as offered money) of terms (in property of value market Estimated shares additional having the persons right to preemptive purchase of JSC RAO INTER UES, may be also offered to for 1 share (one) uncertified registered ordinary (fivefive 0.0535 ten hundred thirty thousandth) is RUR placement of the taken price securities generating Company (JSC RusHydro), OGRN: Company Stock Joint Open of share uncertified ordinary registered one Open Joint Stock Company the Third Generation of share uncertified registered ordinary one point fiftythree-hundredthrubles) pershare; 1-02-65105-D, in the amount of RUR 1.53 (one thoundth), state registration number of the issue ten- seven twenty and hundred six thousand with the nominal share value RUR 0.3627 (three Market (JSC OGK-2), OGRN: 1052600002180, Electricity Wholesale the of Company eration Gen- Second the Company Stock Joint Open of share uncertified registered ordinary one per share; RUR 1.12 (one point twelve-hundredth rubles) of amount the in 1-02-65107-D, issue the of hundred-thousandths), state registration number thousand four hundred and seventy eight one- (fifty-seven 0.57478 RUR value share nominal (JSC OGK-1), OGRN: 1057200597960, with the ing Company on the Wholesale Energy Market Open Joint Stock Company of share uncertified registered ordinary one per share; in the amount of RUR 0.35 (thirty five hundredth) registration number of the issue 1-01-65018-D, nominal share value RUR 0.5 (five tenth), state the with 1024701893336, OGRN: UES), FGC Unified of pany Open Joint Stock Company of share uncertified registered ordinary one and seventytwohundredth)RURpershare; issue 1-01-55038-E, in the amount of 1.72 (one the of number registration state RUR, (one) 1 value share nominal the with 1042401810494, ederal Grid Company (JSC Company Grid Federal First Power Generat- Federal Grid Com- Federal Hydro- Open Joint Stock Company Territorial Gen- Territorial Company Stock Joint Open of share uncertified registered privileged one kopecks) pershare; in the amount of RUR 0.92 (ninety two hundredth registration number of the issue 1-01-10420-A, state each, rubles) hundredth (one 0.01 RUR value share nominal the with 1057601091151, OGRN: TGK-2), (JSC №2 Company erating Gen- Territorial Company Stock Joint Open of share uncertified registered ordinary one kopecks) pershare; amount of RUR 2.04 (two point four hundredth the in 1-01-03388-D, issue the of number tion RUR 0.01 (one hundredth) each, state registra- value share nominal the with 1057810153400, OGRN: TGK-1), (JSC №1 Company erating Gen- Territorial Company Stock Joint Open of share uncertified registered ordinary one sixty ninehundredthrubles)pershare; 65106-D, in the amount of RUR 1.69 (one point 1-02- issue the of number registration state hundredth), eight (forty 0.48 RUR value share nominal the with 1056164020769, OGRN: 6), Power Market Generating Company (JSC OGK- Open Joint Stock Company the Sixth Wholesale of share uncertified registered ordinary one hundredth rubles)pershare; in the amount of RUR 2.63 (two point sixty three registration number of the issue 1-01-50077-A, state ruble), (one 1 RUR value share nominal Enel OGK-5), OGRN: 1046604013257, with the (JSC OGC-5 Enel Company Stock Joint Open of share uncertified registered ordinary one point thirtytwohundredthruble)pershare; 1-02-65104-D, in the amount of RUR 2.32 (two issue the of number registration state ruble), with the nominal share value RUR 0.4 (four tenth Market (JSC OGK-4), OGRN: 1058602056985, Electricity Wholesale the of Company eration the Company Stock Joint Open of share uncertified registered ordinary one seven-hundredth rubles)pershare; eighty point (one 1.87 RUR of amount the in registration number of the issue 1-01-50079-A, state ruble), (one 1 RUR value share nominal (JSC OGK-3), OGRN: 1040302983093, with the market electricity wholesale the of Company ourth Gen- Fourth rubles) pershare; hundredth eight fifty point (three 3.58 RUR of number of the issue 1-01-00085-A, in the amount value RUR 1 (one ruble) each, state registration OGRN: 1027700302420, with the nominal share trification MOSENERGO (OAO MOSENERGO), Open Joint Stock Company of Energy and Elec- of share uncertified registered ordinary one kopecks) pershare; the amount of RUR 0.92 (ninety two hundredth in 2-01-10420-A, issue the of number tration regis- state rubles), hundredth (one 0.01 RUR value share nominal the with 1057601091151, OGRN: TGK-2), (JSC №2 Company erating one ordinary registered uncertified share of share uncertified registered ordinary one hundredth rubles)pershare; in the amount of RUR 2.47 (two point forty seven registration number of the issue 1-01-55113-E, state each, ruble) (one 1 RUR value share nal TGK-7), OGRN: 1056315070350, with the nomi- (JSC Company Generating Company Stock Joint Open of share uncertified registered ordinary one hundredth kopecks)pershare; nine sixty point (one 1.69 RUR of amount the in 1-01-55091-E, issue the of number tration regis- state ruble), hundredth (one 0.01 RUR value share nominal the with 1055230028006, OGRN: TGK-6), (JSC №6 Company erating Gen- Territorial Company Stock Joint Open of share uncertified registered ordinary one hundredth kopecks)pershare; eight thirty point (one 1.38 RUR of amount the in 2-01-43069-A, issue the of number tration regis- state ruble), hundredth (one 0.01 RUR value share nominal the with 1056882304489, (JSC Company Generating Company Stock Joint Open of share uncertified registered privileged one hundredth kopecks)perashare; eight thirty point (one 1.38 RUR of amount the in 1-01-43069-A, issue the of number tration regis- state ruble), hundredth (one 0.01 RUR value nominal share the with 1056882304489, (JSC Company erating Company Stock Joint Open of share uncertified registered ordinary one ar) OGRN: Quadra), uadra), OGRN: Quadra), olga TGK, JSC TGK, Volga Quadra olga Territorial Volga Quadra — Gen- — — RUR 44.53 (forty four point fifty three hundredth of amount the in 1-01-55090-E, issue the of number registration state rubles), hundredth six sixty point (one 1.66 RUR value share nal nomi- the with 1058602102437, OGRN: tum), Company Stock Joint Open of share uncertified registered ordinary one kopecks) pershare; in the amount of RUR 0.48 (forty eight hundredth registration number of the issue 1-01-56741-D, RUR 0.003 (three thousandth ruble) each, state value share nominal the with 1045900550024, OGRN: TGK-9), (JSC №9 Company erating Gen- Territorial Company Stock Joint Open per share; the amount 0.45 (forty five hundredth kopecks) in 1-01-22451-F, issue the of number istration reg- state ruble), thousandth (one 0.001 RUR value share nominal the with 1047550031242, OGRN; TGK-14), (JSC №14 Company ating Gener- Territorial Company Stock Joint Open of share uncertified registered ordinary one (eleven hundredthruble)pershare; issue 1-02-55093-E, in the amount of RUR 0.11 the of number registration state ruble), dredth hun- (one 0.01 RUR value share nominal the with 1051901068020, OGRN: TGK-13), sey Yeni- OJSC (TGK-13, Company Generating Open Joint Stock Company Yenisey Territorial of share uncertified registered ordinary one ruble) pershare; in the amount of RUR 0.34 ( thirty four hundredth registration number of the issue 1-02-00064-A, state ruble), hundredth (one 0.01 RUR value OGRN: 1024200678260, with the nominal share KUZBASSENERGO), (JSC Electrification and Kuzbass Open Joint-Stock Company for Energy of share uncertified registered ordinary one kopecks) pershare; amount of RUR 2.01 (two point one hundredth the in 1-01-12087-F, issue the of number tion RUR 0.01 (one hundredth ruble), state registra- value share nominal the with 1055406226237, OGRN: TGK-11), (JSC №11 Company ating Gener- Territorial Company Stock Joint Open of share uncertified registered ordinary one rubles) pershare; ortum (JSC Fortum For-
19 ANNUAL REPORT JSC RAO UES / 2010
(JSC Bashkirenergo), OGRN: 1020202769146, Bashkirenergo Electrification and Engineering Power Bashkir of Company Stock Joint Open of share uncertified registered ordinary one two point fifty three hundredth rubles) per share; 892.53 (one thousand eight hundred and ninety the issue 2-03-00105-A, in the amount of RUR 1 RUR 10 (ten rubles), state registration number of value share nominal the with 1025403195674, OGRN: NOVOSIBIRSKENERGO), (OJSC go Novosibirskener - Electrification and neering Engi- Power of Company Stock Joint Open of share uncertified registered privileged one per share; and ninety two point fifty three hundredth rubles) 1 RUR of amount the in 1-04-00105-A, issue the of RUR 10 (ten rubles), state registration number value share nominal the with 1025403195674, OGRN: NOVOSIBIRSKENERGO), (OJSC go Novosibirskener- Electrification and neering Engi- Power of Company Stock Joint Open of share uncertified registered ordinary one thirty threehundredthruble)pershare; point five (twenty 25.33 RUR of amount the in registration number of the issue 1-01-00041-E, state ruble), (one 1 RUR value share nominal the with 1023801003313, OGRN: skenergo), Irkut- (JSC Company Distribution and eration Open Joint Stock Company Irkutsk Power Gen- of share uncertified registered ordinary one ruble) pershare; in the amount of RUR 0.42 (forty two hundredth registration number of the issue 2-01-55384-E, state ruble), tenth (five 0.5 RUR value share East), OGRN: 1087760000052, with the nominal tem of the East (JSC RAO Power System of the Sys- Energy RAO Company Stock Joint Open of share uncertified registered privileged one ruble) pershare; in the amount of RUR 0.42 (forty two hundredth registration number of the issue 1-01-55384-E, state ruble), tenth (five 0.5 RUR value share East), OGRN: 1087760000052, with the nominal the of System Energy RAO (JSC East the of Open Joint Stock Company RAO Energy System of share uncertified registered ordinary one 892.53 (one thousand eight hundred eight thousand (one 892.53 Joint-Stock Energy and Electrification Company of share uncertified registered ordinary one seven pointfivetenthruble)pershare; 2-01-00012-A, in the amount of RUR 67.5 (sixty issue the of number registration state each, with the nominal share value RUR 1 (one ruble) (JSC Bashkirenergo), OGRN: 1020202769146, Bashkirenergo Electrification and Engineering Power Bashkir of Company Stock Joint Open of share uncertified registered privileged one point fivetenthruble)perashare; 00012-A, in the amount of RUR 67.5 (sixty seven 1-01- issue the of number registration state with the nominal share value RUR 1 (one ruble), Sales Company (JSC Petersburg Power Sales Open Joint Stock Company Petersburg Power of share uncertified registered ordinary one hundred andeightyrubles)per share; in the amount of RUR 4 480 (four thousand four registration number of the issue 1-01-13736-A, state rubles), thousand (one 1000 RUR value OGRN: 1097746376793, with the nominal share Company (JSC Unified Power Sales Company), Open Joint Stock Company Unified Power Sales of share uncertified registered ordinary one hundredth rubles)pershare; nineteen point (nine 9.19 RUR of amount the in 1-01-55221-E, issue the of number tration regis- state each, rubles) (sixty 60 RUR value OGRN: 1062309019805, with the nominal share Company (JSC Kuban Generating Company), Open Joint Stock Company Kuban Generating of share uncertified registered ordinary one RUR 0.11(elevenhundredthruble)pershare; of amount the in 2-02-00132-A, issue the of hundred-thousandth), state registration number 0.02113 (two thousand one hundred and thirteen RUR value nominal the with 1026402199636, OGRN: Saratovenergo), (JSC Saratovenergo Joint-Stock Energy and Electrification Company of share uncertified registered privileged one per share; ruble) hundredth (eleven 0.11 RUR of amount the in 1-02-00132-A, issue the of number tion RUR 0.02 (two hundredth ruble), state registra- value share nominal the with 1026402199636, OGRN: Saratovenergo), (JSC Saratovenergo one ordinary registered uncertified share of share uncertified registered ordinary one thirty sevenhundredthrubles)pershare; 55168-E, in the amount of RUR 4.37 (four point 2-01- issue the of number registration state nominal share value RUR 0.2 (two tenth ruble), the with 1057812496818, OGRN: Company), Sales Company (JSC Petersburg Power Sales Open Joint Stock Company Petersburg Power of share uncertified registered privileged one thirty sevenhundredth)rublespershare; 55168-E, in the amount of RUR 4.37 (four point 1-01- issue the of number registration state nominal share value RUR 0.2 (two tenth ruble), the with 1057812496818, OGRN: Company), OGRN: 1057000128184, with the nominal share Company (JSC Tomsk Power Sales Company), Open Joint Stock Company Tomsk Power Sales of share uncertified registered ordinary one enteen hundredthruble)pershare; 2-01-65100-D, in the amount of RUR 0.17 (sev- issue the of number registration state ruble), nominal share value RUR 0.02 (two hundredth the with 1056882285129, OGRN: Company), Sales Power Tambov (JSC Company Sales Power Tambov Company Stock Joint Open of share uncertified registered privileged one enteen hundredthruble)pershare; 1-01-65100-D, in the amount of RUR 0.17 (sev- issue the of number registration state ruble), nominal share value RUR 0.02 (two hundredth the with 1056882285129, OGRN: Company), Sales Power Tambov (JSC Company Sales Power Tambov Company Stock Joint Open of share uncertified registered ordinary one 0.11 (elevenhundredthruble)pershare; RUR of amount the in 1-01-12302-F, issue the of number registration state ruble), hundredth (one 0.01 RUR value share nominal the with (JSC Altaienergosbyt); OGRN: 1062224065166, Altaienergosbyt Company Stock Joint Open of share uncertified registered ordinary one 0.41 (fortyonehundredthruble)pershare; the issue 1-01-65113-D, in the amount of RUR of number registration state ruble), hundredth (one 0.01 RUR value share nominal the with (JSC Mosenergosbyt), OGRN: 1057746557329, Mosenergosbyt Company Stock Joint Open
21 ANNUAL REPORT JSC RAO UES / 2010 22 ANNUAL REPORT JSC RAO UES / 2010 RUR 0.0021 (twenty one ten thousands ruble) thousands ten one (twenty 0.0021 RUR value share nominal the with 1057000128107, goremont (JSC Tomskenergoremont), OGRN: Tomskener- Company Stock Joint Open of share uncertified registered privileged one (sixty nine hundred-millionth kopeck) per share; 0.00000069 RUR of amount the in 55088-E, 1-01- issue the of number registration state RUR 0.0021 (twenty one ten-thousandth ruble), value share nominal the with 1057000128107, OGRN: Tomskenergoremont), (JSC mont Tomskenergore- Company Stock Joint Open of share uncertified registered ordinary one 0.12 (twelvehundredthruble)pershare; RUR of amount the in 2-01-55392-E, issue the of number registration state ruble), hundredth (one 0.01 RUR value share nominal the with (JSC TGK-11 TGK-11 Company Stock Joint Open of share uncertified registered privileged one 0.12 (twelvehundredthruble)pershare; RUR of amount the in 1-01-55392-E, issue the of number registration state ruble), hundredth (one 0.01 RUR value share nominal the with (JSC TGK-11 TGK-11 Company Stock Joint Open of share uncertified registered ordinary one five point sixty eight hundredth rubles) per share; fifty and hundred (one 155.68 RUR of amount tration number of the issue 1-01-55218-E, in the RUR 0.56 (fifty six hundredth ruble), state regis- value share nominal the with 1062309019794, OGRN: Kubanenergosbyt), (JSC Company Open Joint Stock Company Kuban Power Sales of share uncertified registered ordinary one share; per ruble) thousandth three (fifty 0.53 RUR of amount the in 2-01-50130-A, issue the of number registration state ruble), ten-thousandth one (seventy 0.0071 RUR value share nominal the with 1057000128184, OGRN: Company), Sales Power Tomsk (JSC Company Sales Power Tomsk Company Stock Joint Open of share uncertified registered privileged one three hundredthruble)pershare; 1-01-50130-A, in the amount of RUR 0.53 (fifty issue the of number registration state ruble), value RUR 0.0071 (seventy one ten-thousandth Holding), OGRN: 1087760000063, Holding), OGRN: 1087760000063, Holding Holding HPP-1 (JSC Sangtudinskaya Sangtudinskaya Company Stock Joint Open of share uncertified registered ordinary one per share; rubles) hundredth four eighty point (six 6.84 the issue 1-01-10326-A, in the amount of RUR RUR 1 (one ruble), state registration number of value share nominal the with 1055014708297, OGRN: EMAlliance), (OJSC Alliance troitelny EnergoMashinos- Company Stock Joint Open of share uncertified registered ordinary one nine hundred-millionthkopeck)pershare; 2-01-55088-E, in the amount 0.00000069 (sixty issue the of number registration state each, per share; rubles) hundredth three point four ninety and thousand sixteen million ninety and hundred seven billion (three 094.03 016 719 3 RUR of million and ten thousand rubles), in the amount (five 000 010 5 RUR value nominal the with OGRN: 1047796118182, in the amount of 100%, ability Company RN-Energo (LLC RN-Energo), Li- Limited the of capital charter the in shares ) pershare; and fifty three point fifty eight hundredth rubles hundred three thousand (three 353.58 3 RUR of amount the in thousand), (ten 000 10 Lari Georgian value share nominal the with st.,2, location: Georgia, 0159, Tbilisi, Marshal Gelovani tem GruzRosenergo (JSC UES GruzRosenergo), Open Joint Stock Company United Energy Sys- of share uncertified registered ordinary one per share; rubles) hundredth nine ninety point ninety and hundred (three 390.99 RUR of amount the in AMD (Armenian Dram) 10 000 (ten thousand), Razdanskaya TPP, with the nominal share value Razdan, Marz, Kotayksky Armenia, of Republic 378550, location: TPP), Raz- (JSC (RazTPP), Company Power skaya Razdan- Company Stock Joint Open of share uncertified registered (common) ordinary one six hundredthruble)pershare; thousand six hundred and twenty point twenty forty two), in the amount of RUR 2 620.26 (two and thousand (three 3042 (somoni) TJS value share nominal the with 2a, st., Shestopalova Dushanbe, 734033, Tajikistan, of Republic HPP-1) location ortzaranain St., Hortzaranain — the Company. the by the of of Board Report Directors Annual this of approval of date preliminary of as the tinues 01.17.2010 on initiated was con 002D still and of number registration the 1-03-33498-E- issue shares of JSC uncertified INTER RAO UES, state For reference: shares. 370 027 229 2893 amount the in 0.02809767 RUR value share nominal the with shares ordinary into divided was and 81 RUR was UES RAO 287 349.66226643 328 As of 12.31.2010 of the capital charter JSC INTER 03.14.2011. of as Company the of shares placed 2% over owning shareholders other any about formed in not is management UES RAO INTER JSC changed. has the of structure the share of capital the Company of issue shares (date of expiry Taking into interim account of results additional shares. voting and capital Charter the of 0.00000000007% i.e. UES, RAO INTER JSC of shares ordinary 2 12.31.2010owned of as Rosimushchestvo Russian the The Placement of Placement registered ordinary F ederation represented by represented ederation — May 17, 2011), - - Company have the following rights to: rights following have the Company shares of ordinary holding the The shareholders SHAREHOLDERS’ RIGHTS: sions oftheGeneralMeetingShareholders. Russian the exercise other rights stipulated by the Law of the Charter; Russia the of posal value) in the order established by the Law possess a part of the Company’s property (dis- public subscription; by Company the by placement their of case in them by held (type) category this of shares of number the to proportional quantity the in shares into convertible securities issuing and preemptive right to purchase additional shares Federation; Russian the the of Law the by for provided cases in them by owned stock the of part or all of Company the by purchase the demand pany’s Charter; Law of the the Russian according to the procedure established by the have an access to documents of the Company Russian the procedure established by the Law of the the to according shareholders among distribution receive a part of net profit (dividends) subject to shareholders andtheCompany; alienate their shares without the consent of other Federation andtheCharterofCompany; dure established by the Law of the the Russian bodies of the Company according to the proce- elect and be elected to management and control sonally orthroughrepresentatives; to vote on all issues within its competence per- participate in the General meeting with the right Federation and the Company’s Charter; ederation, the Charter and deci- and Charter the Federation, ederation and the Company’s the and Federation Federation and the Com- State AtomicEnergyCorporation“Rosatom” Company ”NorilskNickel” Open JointStockCompany“MiningandMetallurgical RUSENERGO FUNDLIMITED Limited LiabilityCompany“GazpromEnergoholding” Closed JointStockCompany“Atomstroyexport” (Rosenergoatom Concern,OJSC) of ElectricandThermalEnergyatNuclearPowerPlants" Open JointStockCompany"ConcernforProduction Eco-nomic Affairs(VNESHECONOMBANK)” State Corporation“TheBankforDevelopmentandForeign MAJOR SHAREHOLDERSASOF03.14.2011 (VNESHECONOMBANK)” and ForeignEconomicAffairs State Corporation“TheBankforDevelopment Total Concern, OJSC) at NuclearPowerPlants"(Rosenergoatom for ProductionofElectricandThermalEnergy Open JointStockCompany"Concern and CorporateTechnologies” Limited LiabilityCompany“Depositary Center” Company “theNationalDepositaryClearing Non-for-Profit PartnershipClosedJointStock ing Company” Closed JointStockCompany“DepositaryClear- Closed JointStockCompany“Atomstroyexport” State AtomicEnergyCorporation“Rosatom” owning over5%votingsharesoftheCompanyas12.31.2010: Shareholders ofJSCINTERRAOUES, Name Full nameofanindividual/legalentity shareholder 2 Category ofa an Account1 Category of LegalEntity Legal Entity Legal Entity Legal Entity Legal Entity Legal Entity Legal Entity Nominal Nominal Nominal Holder Holder Holder Owner Owner Owner Owner Total shares(pieces) 189 347388419 253 650000 337 807520171 529 303482587 712 519615233 61 719353684 90 237584223 shares Quantity ofordinary 2 734695909846 253 650000 712 519615233 529 303482587 337 807520171 315 598503797 294 285362170 291 531425888 % ofplacedshares* shares % ofplaced 94.5271 24.6289 18.2958 11.6766 10.9089 10.1722 10.0770 11.5187 18.0484 24.2957 8.7676 6.4564 8.6490 2.1045 3.077
23 ANNUAL REPORT JSC RAO UES / 2010 Price in USD Price, RUR Price in USD Price, RUR 0,0014 0,0014 0,035 0,045 0,055 0,065 0,035 0,045 0,055 0,065 0,0017 0,0023 0,0026 0,0017 0,0023 0,0026 0,001 0,001 0,04 0,04 0,05 0,06 0,07 0,05 0,06 0,07 0,002 0,002 1 1 11 Jan 11 Jan 11 Jan 11 Jan 22 Jan 22 Jan 22 Jan 22 Jan 4 Feb 4 Feb 4 Feb 4 Feb 17 Feb 17 Feb 17 Feb 17 Feb 3 Mar 3 Mar 3 Mar 3 Mar 17 Mar 17 Mar 17 Mar 17 Mar 30 Mar 30 Mar 30 Mar 30 Mar 12 Apr 12 Apr 12 Apr 12 Apr 23 Apr 23 Apr 23 Apr 23 Apr 7 May 7 May 7 May 7 May 21 May 21 May 21 May 21 May 3 Jun 3 Jun 3 Jun 3 Jun Price atRTS-Classica Price atRTS-Classica
17 Jun Price atMICEX 17 Jun 17 Jun Price atMICEX 17 Jun 30 Jun 30 Jun 30 Jun 30 Jun 13 Jul 13 Jul 13 Jul 13 Jul 26 Jul 26 Jul 26 Jul 26 Jul
6 Aug 6 Aug 6 Aug 6 Aug 19 Aug 19 Aug 19 Aug 19 Aug 1 Sep 1 Sep 1 Sep 1 Sep 14 Sep 14 Sep 14 Sep 14 Sep 27 Sep 27 Sep 27 Sep 27 Sep 8 Oct 8 Oct 8 Oct 8 Oct 21 Oct 21 Oct 21 Oct 21 Oct 3 Nov 3 Nov 3 Nov 3 Nov 17 Nov 17 Nov 17 Nov 17 Nov 30 Nov 30 Nov 30 Nov 30 Nov
13 Dec 13 Dec 13 Dec 1324 Dec 24 Dec 24 Dec 24 Dec 24 Dec ANNUAL REPORT JSC RAO UES / 2010
Trade Volume in mln USD Trade Volume,Price mlnTrade in USD RUR Volume in mln USD Price,Trade RUR Volume, mln RUR 0,0014 0,035 0,045 0,055 0,065 0,0017 0,0023 0,0026 Price, RUR 0,001 Price in USD 0,3 0,6 0,9 1,2 1,5 1,8 2,1 0,3 0,6 0,9 1,2 1,5 1,8 2,1 1000 1250 1500 1750 2000 1000 1250 1500 1750 2000 0,04 0,0014 0,035 0,045 0,055 0,065 0,05 0,06 0,07 0,0017 0,0023 0,0026 0,002 0,001 250 500 750 250 500 750 0 0 0,04 0,05 0,06 0,07 0,002 0 0 1
11 Jan 11 Jan 1 11 Jan 11 Jan 11 Jan 11 Jan 11 Jan 22 Jan 22 Jan 11 Jan 22 Jan 22 Jan 22 Jan 22 Jan 22 Jan 4 Feb 4 Feb 22 Jan 4 Feb 4 Feb 4 Feb 4 Feb 4 Feb 17 Feb 17 Feb 4 Feb 17 Feb 17 Feb 17 Feb 17 Feb 17 Feb 3 Mar 3 Mar 17 Feb 3 Mar 3 Mar 3 Mar 3 Mar 3 Mar 17 Mar 17 Mar 3 Mar 17 Mar 17 Mar 17 Mar 17 Mar 17 Mar 30 Mar 30 Mar 17 Mar 30 Mar 30 Mar 30 Mar 30 Mar 30 Mar 12 Apr 12 Apr 30 Mar 12 Apr 1212 AprApr 12 Apr 12 Apr 23 Apr 23 Apr 12 Apr 23 Apr 2323 AprApr 23 Apr 23 Apr 7 May 7 May 23 Apr 7 May 77 MayMay 7 May 7 May Trade VolumeatRTS-Classica Trade VolumeatRTS-Classica 7 May 21 May 21 May 21 May 2121 MayMay 21 May 21 May Trade VolumeatMICEX 3 Jun Trade VolumeatMICEX 3 Jun 21 May 33 JunJun 3 Jun 3 Jun Price atRTS-Classica 3 Jun 3 Jun 17 Jun 17 Jun Price atRTS-Classica 1717 JunJun Price atMICEX 17 Jun 17 Jun
Price atMICEX 17 Jun 30 Jun 30 Jun 17 Jun 3030 JunJun 30 Jun 30 Jun 30 Jun 30 Jun 13 Jul 13 Jul 1313 JulJul 13 Jul 13 Jul 13 Jul 13 Jul 26 Jul 26 Jul 2626 JulJul 26 Jul 26 Jul 26 Jul 26 Jul
6 Aug 6 Aug 6 Aug 6 Aug 6 Aug 6 Aug 6 Aug 6 Aug 19 Aug 1919 AugAug 19 Aug 19 Aug 19 Aug 19 Aug 19 Aug 1 Sep 11 SepSep 1 Sep 1 Sep 1 Sep 1 Sep 1 Sep 14 Sep 1414 SepSep 14 Sep 14 Sep 14 Sep 14 Sep 14 Sep 27 Sep 2727 SepSep 27 Sep 27 Sep 27 Sep 27 Sep 27 Sep 8 Oct 88 OctOct 8 Oct 8 Oct 8 Oct 8 Oct 8 Oct 21 Oct 2121 OctOct 21 Oct 21 Oct 21 Oct 21 Oct 21 Oct 3 Nov 33 NovNov 3 Nov 3 Nov 3 Nov 3 Nov 3 Nov 17 Nov 17 Nov 17 Nov 17 Nov 17 Nov 17 Nov 17 Nov 17 Nov 30 Nov 30 Nov 30 Nov 30 Nov 30 Nov 30 Nov 30 Nov 30 Nov 13 Dec 13 Dec 13 Dec 13 Dec 13 Dec 13 Dec 13 Dec 13 Dec 24 Dec 24 Dec 24 Dec 24 Dec 24 Dec 24 Dec 24 Dec 24 Dec shares). S and the Rule 144 A. (1 GDR = 10 000 ordinary GDR program in accordance with the Regulation depositary bank, JSC INTER RAO UES launched Jointly with Bank of New York Mellon, acting as a Exchange” and CJSC MICE Stock“RTS JSC of quotationB listlistedinare Stock Exchange. Shares of JSC INTER RAO UES MICE CJSCExchange”Stock “RTSandJSC havebeentraded onRussian stock markets Since July 17, 2008 shares of JSC INTER RAO UES OF JSCINTERRAOUESDURING2010 DYNAMICS OFSHAREPRICES
Trade Volume in mln USD Trade Volume, mln RUR 0,3 0,6 0,9 1,2 1,5 1,8 2,1 1000 1250 Trade1500 Volume1750 in2000 mln USD Trade Volume, mln RUR 0,3 0,6 0,9 1,2 1,5 1,8 2,1 1000 1250 1500 1750 2000 250 500 750 0 250 500 750 0 0 11 Jan 0 11 Jan 11 Jan 22 Jan 11 Jan 22 Jan 22 Jan 4 Feb 22 Jan 4 Feb 4 Feb 17 Feb 4 Feb 17 Feb 17 Feb 3 Mar 17 Feb 3 Mar 3 Mar 17 Mar 3 Mar 17 Mar 17 Mar 30 Mar 17 Mar 30 Mar 30 Mar 30 Mar 12 Apr 12 Apr 12 Apr 12 Apr 23 Apr 23 Apr 23 Apr 23 Apr 7 May 7 May 7 May 7 May Trade VolumeatRTS-Classica
21 May Trade VolumeatRTS-Classica 21 May 21 May 21 May Trade VolumeatMICEX
3 Jun Trade VolumeatMICEX 3 Jun 3 Jun 3X Jun 17 Jun 17 Jun 17 Jun 17 Stock Exchange.Jun 30 Jun 30 Jun 30 Jun 30 Jun 13 Jul 13 Jul 13 Jul 13 Jul 26 Jul 26 Jul 26 Jul 26 Jul 6 Aug 6 Aug 6 Aug 6 Aug 19 Aug 19 Aug 19 Aug 19 Aug 1 Sep 1 Sep 1 Sep 1 Sep 14 Sep 14 Sep 14 Sep 14 Sep 27 Sep 27 Sep 27 Sep 27 Sep 8 Oct 8 Oct 8 Oct 8 Oct
21 Oct 21 Oct — 21 Oct 21 Oct X 3 Nov 3 Nov 3 Nov 3 Nov 17 Nov 17 Nov 17 Nov 17 Nov 30 Nov 30 Nov 30 Nov 30 Nov 13 Dec 13 Dec shares of one share was109 157 thousand465 RUR). (market price 138370 183 thousand RUR(as of12.31.2009 it accordingMICEto UES RAOMarketINTERcapitalization JSC of 13 Dec 13 Dec 24 Dec 24 Dec 24 Dec 24 Dec
— 2 893 023 370 229 shares).
— RUR 0.048; the quantity of placed X data as of 12.31.2010ofasdata was Corporate governance structure and principles 3.1 3. 2 3. 3 3. 4 3. 5 3. 6 3. 7 3. 8 Principles Disclosure Management and Information about Executive Actual Members Revision Auditor and of Information Control Bodies Members of the Bodies of the Management Commission 3 Documents Board of Directors Board 26 ANNUAL REPORT JSC RAO UES / 2010 violation of their rights. their of violation for redress effective obtain to opportunity the have should shareholders all that ensures tors Direc of Board The them. towards treatment and equal ensure of the rights its shareholders The to is Fairness. Company committed protect Company. of the bodies of Executive activity over the trol con exercising and decisions elaborating for Directors of Board the for guidance as serves and Law applicable with accordance in ers of ability the Board of toDirectors all sharehold account The Code stipulates Accountability. principles: following the on based is and Company, the by approved Code Governance Corporate the with ance accord in executed is governance Corporate capitalization. market increase result a as and pricing loan lower attractiveness, investment raise to ing allow business in advantage competitive a gain to helps concerned parties other and shareholders investors, bodies, executive its between relations of system transparent and effective that acknowledges Company The practice. best world with compliance into it bringing by system governance corporate its improve to seeking is UES RAO INTER JSC capitalization. market creasing in- and reputation strengthening activity, its of efficiency enhancing of means a as ment manage corporate considers Company The and Directors executive of bodies the Company. Board of shareholders, between clude relations in processes These shareholders. of benefit the for activity its of control and management a of complex ensuring understands processes Company the governance corporate Under 3.1 Principles andDocuments ------and governance of the Company, as well as as well as Company, the of governance and structure ownership performance, indicators, and social environmental standing, its financial including its facts material activities, concerning of about all disclosure information timely reliable Transparency. The Company acknowledges acknowledges Company The Responsibility. concerned. parties all for information tosuch access easy by the Annual General Meeting of the share the of Meeting General Annual the by The current of version the was Charter approved procedures. Company, their scope and of operating authority the of bodies executive of description and ers of rights of sharehold Capital, Charter activity, types and goals Company, the of status legal the about information includes It Company. the of document foundation a is Charter The THE CHARTER Company: the of bodies of ments listed below and activity the regulating docu internal adopted UES RAO INTER JSC In order to secure the of rights its shareholders Report. Annual this to Annex the in presented is Conduct of Code Corporate the of requirements main the of observance about Information Markets. cial by recommended the Conduct, of Code Corporate the by stipulated TER RAO UES tries to employ the main principles its system Within governance JSC corporate IN stability. financial and development own its of purpose the for parties such with cooperation seeks and Law applicable the by stipulated concerned parties all of rights the The Company shall ensure The shall the Company F ederal Service for ederal Service F inan - - - - - Changes in Changes the of Charter the associ Company by F registered of issue on report additional shares financial was RAO UES and No.3 (Minutes dated 25.06.2009) INTER JSC shareholders of Meting General 11.10.2010on Annual of the decision the upon to of changes were the capital Charter registered in Changes the of Charter the relating Company 28.07.2010. on (Moscow) No.46 Service of in the Inspection the Interdistrict No.5 (Minutes dated 06.25.2010), and registered of holders JSC RAO INTER UES on 25.06.2010 disclosure. of procedure and dates the and periodicity, its Company, the by disclosed be to mation infor of content the define Regulations The 23.08.2010). No.1dated (Minutes 19.08.2010 on Directors of Board the of decision the by were approved Regulations Policy Information INFORMATION POLICYREGULATIONS governance. corporate due of standards the of readiness constant the to Company abide by ency of and the showing management Company JSC INTER RAO UES, greater ensuring transpar of management corporate of systematization and are improvement Code of the Subjectives 23.04.2008). No.1 dated (Minutes 23.04.2008 on Directors of Board the of decision the by approved was Code Governance Corporate CORPORATE GOVERNANCECODE 27.20.2010. on made was entity legal the of documents foundation into The record of state of registration made changes 04.10.2010).dated No.32 (Minutes 09.30.2010 on UES RAO INTER of JSC of Directors Board the by approved were Ecuador of Republic of territory the in office the establishing with ated S F M of Russia on 23.09.2010. on Russia M of F ederal ederal Tax - - - of an Extraordinary General Meeting of Share Meeting General of an Extraordinary functions the performing Board Management of the JSC RAO UES of by Russia decision the were Board approved Regulations Management MANAGEMENT BOARDREGULATIONS Directors. of Board the of and Directors the rights and of duties members of the functions specify the of Chairman Board of Directors, of Board of meetings holding and of the procedure define preparing Regulations The 25.06.2009). dated No.3 (minutes holders of Meeting General JSC RAO INTER UES share Annual the of decision the by 25.06.2009 on approved were Directors of Board the of ings and Convening on Regulations DIRECTORS HOLDING MEETINGSOFTHEBOARD REGULATIONS ONCONVENINGAND Meeting. General the of bodies operating of ers, forms of the and functions meetings, specify ing of Meeting and General holding Sharehold define the The of procedure Regulations prepar on 25.06.2010 No.5 (Minutes dated 25.06.2010). Board of Management JSC RAO UES of Russia the of decision bythe approved were Meeting on and Preparing Regulations HOLDING GENERALMEETINGS REGULATIONS ONPREPARINGAND Company. the of Directors of Board the for the above transaction about a prepares report Committee the that so Committee Audit the of of is the for Company presented consideration shares with of insiders of transactions analysis the Regulations, the of requirements the with accordance In parties. certain of interests the of that in is information not accessible generally are The aimed Regulations at preventing the use 23.04.2008). No.1 dated (Minutes 23.04.2008 on Directors of Board the of decision the by were approved Regulations Information Insider INSIDER INFORMATIONREGULATIONS H olding General General olding H olding Meet olding - - - - - receive payments from legal entities has been been has entities legal from payments receive to right whose persons being Company the of ments to the of members the Board of Directors pay and Chairman the of compensation and remuneration with the accordance Regulations In members. Body Executive Collective pany Com the or Bodies Executive Sole Company Board of exercising the Directors powers of the the of members the to apply not does tions Regula the of effect The Directors. of Board the of members the to payable compensation and remuneration of amount the and cedure pro the define Regulations The 06.25.2009). dated No.3 (Minutes UES RAO INTER JSC of Shareholders the of Meeting General Annual the of decision the by 25.06.2009 on proved ap were UES RAO INTER JSC of Directors of Board the of Members the to payable sations Compen and Remunerations on Regulations BERS OFBOARDDIRECTORS COMPENSATIONS PAYABLETOTHEMEM- REGULATIONS ONREMUNERATIONSAND absentia. in and presence in Board the of procedure of meetings the Management set and Board, Management the of members of and mine the the duties responsibility rights, deter Board, Management the of formation of the Board, procedure the specify Management the contain of main The objectives Regulations 28.03.2008). dated Board Management the of (extract from No.1845pr/3Minutes of the meeting of holders JSC TPP Sochinskaya on 28.03.2008 the objectives of Revision Commission, its its Commission, Revision of objectives the define Regulations The 28.03.2008). dated Board Man-agement the of meeting the of No.1845pr/3 Minutes from (extract 28.03.2008 on TPP Sochinskaya JSC of Shareholders of Meeting General of an Extraordinary functions performing Russia of UES RAO JSC of Board Management the of decision the by proved ap were Regulations Commission Revision REVISION COMMISSIONREGULATIONS paid. and accrued be not or by annulled cancelled the F ederal ederal Law, shall ------TPP Shareholders on 28.03.2008 (extract from on TPP 28.03.2008 Shareholders Sochinskaya JSC of Meeting General dinary of Extraor an functions the performing Russia of Board RAO JSC UES of of Management the decision the by approved were Commission Revision the of Members the to Payable tions and on Compensa Remunerations Regulations BERS OFTHEREVISIONCOMMISSION COMPENSATIONS PAYABLETOTHEMEM- REGULATIONS ONREMUNERATIONSAND inspections. of procedure the sets and duties, and rights http://www.interrao.ru /the company/documents/ http://www.interrao.ru website of JSC RAO INTER UES in the Internet: of the are on Company the published corporate in the relationship field of governance corporate the regulating documents The Commission. (experts) by employed the Revision specialists to as well as members Commission Revision to payment of and compensation remuneration of form and periods the amount, set forth tions Board agement The dated Regula 28.03.2008). No.1845pr/3Minutes of the of meeting the Man - - - -
27 ANNUAL REPORT JSC RAO UES / 2010 28 ANNUAL REPORT JSC RAO UES / 2010 and supervision bodies, employees, representa employees, bodies, and supervision regulatory shareholders, including Company the of audiences target all that stipulates and based and on principle equal access full-value is Policy This activity. of results the Company’s and actions corporate about Company the of at of information immediate the target audiences Policy of RAO INTER Information UES is aimed approved by Regulations the Board of Directors. Policy in Information are defined Company the of activities of The main informational principles market. domestic the in of players major activity to ments informational sector, is well aware of and meets require public power in the Russian of companies the largest one UES, RAO INTER company. public major any of development successful for conditions key the of one is transparency Informational INFORMATION POLICY obtaining. and finding its guaranteeing procedures the to pursuant information such obtaining of purposes the notwithstanding parties and holders concerned to share its accessibility ensuring tion includng of the disclosure stipulating informa Regulation Policy Information approved UES RAO INTER JSC of Directors of Board the 2010 August In documents. F approved by Securities the order of the Equity of Issuers by Information of Disclosure and Market”, “On on Securities and Regulations the of requirements the follows UES RAO INTER JSC information of disclosure of sphere the In 3.2 inancial Markets Service and other Markets regulatory Service inancial F ederal Laws “On Joint-Stock-Companies” ederal Laws “On Joint-Stock-Companies” DISCLOSURE OFINORMATION F ederal ederal - - - - and in statutory acts of JSC INTER RAO UES. RAO INTER JSC of acts statutory in and dicated in the laws of the the Russian for as all mation, accessible these in audiences have shall to access infor organizations social and banking and finance media, of mass tives operations of operations the Company, its goals and objec receive all and required news information about of results the in Company the whole, and timely and development to contribution personal her our evaluate should employee the impact of his/ each that to ensure We Company. strive the in working employees 371 2 are There staff. its is important, equally is which Company, the of policy information of element key Another individually. and group in both media mass and Company the of representatives between discussions open regular and interviews and comments for ers manag of availability ensuring basis, timely and regular a on news all about information providing them, with proactive be to tries and of representatives to media mass all questions answers detailed gives Company The media. mass with relations confidential and open ing of policy information the is Company establish implementing for instrument essential Another communications. financial of and the improving quality its and intensifying them to provided information of range the ing by relations investor and broaden shareholder to approach its improving constantly is RAO INTER end, this To Company. the of appeal for of value growth and investment shareholder strategy is development one of drivers essential elaborated porate and governance scrupulously cor high-quality with alongside transparency informational that convinced is RAO INTER F ederation ederation ------this corporate integration in this integration corporate every our employee. of feeling the sustaining and at creating aimed as policy information our and development; its of component vital as the strategically integral, only if any oneself of recognizes its employees in success absolute its achieving develop-ment tives. We believe that the is Company of capable BOARD OFDIRECTORS Shareholders. of Meeting General terms. Candidates for election into Board of of Board into election for Candidates terms. of number unlimited an for re-elected be may of Directors Board of the members elected be to Persons proposed of Meeting Shareholders. by early terminated of the decision the General of any of member the Board of may Directors be Power of Meeting General annual Shareholders. at until of the Meeting General next Shareholders of the Members Board of are Directors elected of 11 consisting body members. is a collective of Directors Board The of Directors. Board the and on Convening lations in and Regu the Charter is specified Directors of Board the of procedure Operating Charter. ties the within in scope stipulated of the authority on of issues vital decisions the activi Company’s ties is exercised by the Board of taking Directors of management General the activi Company’s and Preparing on Regulations and eral Charter Law “On Joint-Stock-Companies”, in the are stipulated of holding forms and holding and preparing of procedure periods, Shareholders, of Meeting General of authority The of scope Meeting of General Shareholders. the to accountable be shall Commission sion Board of and executive Directors, bodies Revi Shareholders. of Meeting General of authority in pany’s with the accordance activity scope of Com of the issues vital most the on decisions in the managing by Company participate taking to right their to exercise possibility the with ers sharehold provides Shareholders of Meeting pany is a body. management supreme General Com the of Shareholders of Meeting General GENERAL MEETINGOFSHAREHOLDERS 3.3 AND CONTROLBODIES MANAGEMENT H olding Meetings of Meetings olding H olding of of olding F ed ------ 01, 2010. 25, June 2010 till of Members the Board of from Directors January changes. underwent In 2010 the Board of of Directors the Company Directors. of Board the of initiative the by and shares, voting 2% least at owning shareholders by submitted be can Directors was elected at the General Annual Meeting of of Meeting Annual General the at elected was The current Board of of Directors the Company ergy oftheRussianFederation Shmatko Sergey Ivanovich eral DirectorofMezhregiongaz, LLC Processing Department of Gazprom, JSC; Gen- Liquid and Gas Committee, Management the of Gennadyevich Kirill Seleznyov Federal Agency for State Property Management Alexandrovich Yuri Petrov Exchange Mercantile International Petersburg St. CJSC Maslov Sergei Vladimirovich Russian RegionalDevelopmentBank Kurtser Grigory Markovich eral DirectorofLLCRosneft-Energo Kravchenko Vyacheslav Mikhailovich of the Management Board of INTER RAO UES Kovalchuk Boris Yurievich tion Rosatom Corpora- Energy Atomic State the of Director Vladilenovich Sergey Kirienko of theManagementBoardJSCRusHydro Vyacheslavovich Evgeny Dod Director ofJSCRussianCommercialBank Alexandrovich Nikolai Anoshko the RussianFederation of Minister Prime Deputy Directors, of Board Ivanovich Igor Sechin ydrocarbons Marketing and Marketing Hydrocarbons — Chairman of the of Chairman — — President of JSC — acting Chairman — Minister of En- — — President of — Chairman — ead of the of Head ead of the of Head — Member — — General — — General — — Gen- 25, 2010 up to the present day are: day present 201025, to the up June from Directors of Board the of Members 26.06.2010). dated No.5 (Minutes of the Shareholders on Company June 25, 2010
bank) and of the State Corporation Bank for Development Dmitriev Vladimir Alexandrovich of theManagementBoardJSCRusHydro Vyacheslavovich Evgeny Dod the RussianFederation of Minister Prime Deputy Directors, of Board Ivanovich Igor Sechin ergy oftheRussianFederation Shmatko Sergey Ivanovich eral DirectorofMezhregiongaz,LLC Processing Department of Gazprom, JSC; Gen- Liquid and Gas Committee, Management the of Gennadyevich Kirill Seleznyov Federal Agency for State Property Management Alexandrovich Yuri Petrov Corporation Rosatom Energy Atomic State the of Director General Markovich Alexander Lokshin JSC RussianRegionalDevelopmentBank Markovich Gregory Kurtser eral DirectorofLLCOESK Kravchenko Vyacheslav Mikhailovich Management BoardofJSCINTERRAOUES Kovalchuk Boris Yurievich Foreign Economic Affairs (Vnesheconom- ydrocarbons Marketing and Marketing Hydrocarbons — Chairman of the of Chairman — — Chairman of the — Minister of En- — — President of President — — Chairman — ead of the of Head ead of the of Head — Chairman — Member — — Deputy — — Gen-
29 ANNUAL REPORT JSC RAO UES / 2010 30 ANNUAL REPORT JSC RAO UES / 2010 Securities Market ( Market Securities recommended by the recommended Conduct Corporate of Code the to According and Compensations Payable to the Members Members the to Payable Compensations and Remunerations on Regulations to pursuant determined were Company the of Directors of Board the of members to compensations and remunerations of payment and amount The them. of all on made There were 231 reviewed issues and decisions Company. the of development strategic and to attention the related issues to current activity of RAO UES special JSC paid Directors INTER of Board 2010the In held. not were meet-ings in the form of vote.presence absent Collective In 2010 the Board of held Directors 14 meetings directors: as ing are independent persons acknowledged Anoshko NikolaiAlexandrovich Shmatko SergeyIvanovich Sechin IgorIvanovich Seleznyov KirillGennadyevich Petrov YuriAlexandrovich (BOD membersince25.06.2010) Maslov SergeiVladimirovich (BOD membersince25.06.2010) Lokshin AlexanderMarkovich Kurtser GrigoryMarkovich Kravchenko VyacheslavMikhailovich Kovalchuk BorisYurievich (BOD membersince25.06.2010) Kirienko SergeyVladilenovich Dod EvgenyVyacheslavovich (BOD membersince25.06.2010) Dmitriev VladimirAlexandrovich DATA ONBODMEMBERS’PARTICIPATIONINMEETINGS Full Name Seleznyov KirillGennadyevich Kurtser GregoryMarkovich Anoshko NikolaiAlexandrovich F CSM) of Russia CSM) the of follow Russia F ederal Commission for Commission ederal meetings aBODmembercouldhavetakenpart Number ofmeetingsaBODmembertookpartin/Totalnumber - to the following formula: following the to according calculated remuneration receive shall members its Company the of Directors F been has entities legal from receiv for payments ing right whose Directors of Board the of members and Chairman the to paid be not shall compensations and Remunerations Company. the of Body Executive Collective the of elected member as or Body Executive Sole a as acting Directors of Board the of not members to are payable compensations and Remuneration form. monetary the in out carried was sations compen and remunerations of Payment UES. RAO INTER JSC of Directors of Board the of cancelled or annulled by the the by annulled or cancelled or participation in activities of the Board of of Board the of activities in participation or × =Vbase Vmbd
m F j , ederal Law. Law. ederal 14/14 14/14 14/14 13/14 14/14 14/14 14/14 13/14 14/14 7/7 7/7 7/7 6/7 - - the new Board of Directors was elected. was Directors of Board new the which at Shareholders the of Meeting General of until the the date Shareholders of the Annual the date of the Meeting General Annual previous m — part. took Directors of the of Board member this in which Directors of Board the of meetings of number the j — remuneration; the of part basic the Vbase — Company. the of Directors of Board the of member to Vmbd — where: be increased: be may remuneration payable the of amount The Company. the of Shareholders the of Meeting General the by determined be shall remuneration additional the of payment of terms and regulations amount, The rectors. Di of Board the to paid be may remuneration additional the Shareholders of Meeting eral Gen the of decision the with accordance In duties). his of termination of time the to up elected was he (since held meetings of 50% than more in ber of the Board of has Directors not taken part not shall be The remuneration paid if the mem adopted. was Directors of Board anew of of election the decision at which the Company of of shareholders the meeting general annual for meeting, annual a month after the date of the after their the forming duties date of the previous per been have who Directors of Board the of shall be The remuneration paid to the members 1, 2010. January from as Company year to according acts the of local statutory the basic of part is the indexed remuneration every ( The of amount the basic of part the remuneration V Board ofDirectors; By 15% for Chairmen of the committees of the rectors; Di- of Board the of Chairman the for 30% By base) is The 1 of rubles. amount 000 400 the the the total of number held as meetings from the amount of remuneration payable payable remuneration of amount the - - - - the decision of the Board of Directors of the Com Members of the shall Committee be defined by process and provide work incentives for them. is to engage qualified specialists in management Remuneration Committee of the Board of Directors The main objective of the TION COMMITTEE HUMAN RESOURCESANDREMUNERA- Committees: three of of Directors JSC INTER RAO UES established Board the duties, its perform to better order In OF DIRECTORS COMMITTEES OFTHEBOARD Company). the of plan option to pursuant benefits financial account into (taking rubles thousand 131856 of constituted the of Board Members Directors to payments Other rubles. 3472 tuted thousand consti Directors of Board the of work the in participation their for UES RAO INTER JSC of Directors of Board the of members the to paid remuneration of amount total the 2010 In man of of the of Board the Company. Directors of of the duties Chair to related sues fulfillment is on other etc.)decisions meals, making and accommodation, (transport, of Board Directors of in the the Meeting to related his participation travel expenses for all his business reimbursed of be shall the of Board The Chairman Directors Strategy andInvestmentCommittee Audit Committee mittee Com- Remunerations and Resources Human summed up. The stated additions to remunerations shall be he waselected. which of member the Directors, of Board the participation in the work of every committee of the for Directors, of Board the of committee every of work the in participation the for tors By 10% for the members of the Board of Direc- H uman Resources and - - - - given for the moment of election): of moment the for given are (positions 16.09.2009 on taken Directors of Board the of decision to according formed Directors of Board the of Committee neration of Members the twice. reelected was Committee the Directors of Board the of Committee tion In 2010 the of the Board of Directors of the Company. Directors from candidates submitted by members the Committee shall be elected by the Board of of 3 and a maximum of 7 members. Members of pany; the Committee shall consist of a minimum ment of election): of ment mo the for are given 19.08.2010 on (positions taken by to the Board of the decision Directors according formed Committee Remuneration the of members The Director ofLLC Rosneft-Energo; General Directors, of Board the of member Mikhailovich Vyacheslav Kravchenko (Rosimushchestvo); Federal Agency for State Property Management Nikitin Gleb Sergeevich sian Federation(ChairmanoftheCommittee); Board of Directors, Minister of Energy of the Rus- Ivanovich Sergey Smatko porate CenterofJSCINTERRAOUES. Board, Management the of man Mantrov Mikhail Alexeevich (Rosimushchestvo); Federal Agency for State Property Management Nikitin Gleb Sergeevich ment ofJSCVTBBank; Board of Directors, Kurtser Grigory Markovich Director ofLLCRosneft-Energo; General Directors, of Board the of member Mikhailovich Vyacheslav Kravchenko the State Atomic Energy Corporation Rosatom; of Director General Directors, of Board the of Vladilenovich Sergey Kirienko sian Federation(ChairmanoftheCommittee); Board of Directors, Minister of Energy of the Rus- Shmatko Sergey Ivanovich H uman Resources and Remunera uman Resources H uman Resources and uman Resources Remu Head of Resource Manage- H uman Resources and and Resources uman — Deputy — Deputy — member of the of member — — member of the — member of the — Deputy Chair- ead of Cor - of Head — member — Head of the Head of the — — - - - The The objective of the Committee is to develop and AUDIT COMMITTEE of election): of are (positions given for the 06.02.2009 moment of the the decision Board of taken on Directors of formed by the Membership Audit Committee times: three re-elected was Directors of Board the of Committee Audit the 2010 In members. its of number total the and Committee the of membership the mines deter Company the of Directors of Board The an audit firm (auditor) of the Company. as interaction with the Revision Commission and for selection of an independent audit firm as well of the Committee is to develop recommendations activity of the Company. One of the key functions tors in the control of the financial and economic ensures theof participation the Board of Direc of audit and internal control. The Audit Committee Board of Directors of the Company in the sphere the (conclusions)to recommendations submit agement ofJSCVTB; Directors, of Board the BoardofDirectors,JSCINTERRAOUES. Boris Alexander Gennadyevich Rosatom; Corporation Energy Atomic State the of rector Di- General Deputy Directors, of Board the of Markovich Alexander Lokshin Bank (JSCRRDB); Stock Company Russian Regional Development Joint Open of President Directors, of Board Kurtser Grigory Markovich Kurtser Gregoriy Markovich Gregoriy Kurtser Petersburg International Mercantile Exchange; St. CJSC of President Directors, of Board the Vladimirovich Sergei Maslov the Committee); Russische Kommerzial Bank AG (Chairman of of Director General Directors, of Board the of Alexandrovich Nikolai Anoshko ead of Resources Man- Resources of Head — member of the — member of member — — member of member — — member of — member — — member — - -
31 ANNUAL REPORT JSC RAO UES / 2010 32 ANNUAL REPORT JSC RAO UES / 2010 determining priority directions, strategic goals goals strategic directions, priority determining activity: of areas following the on Company the of Directors of Board the to mendations recom submitting and developing tee include F STRATEGY AND INVESTMENT COMMITTEE lists. B-quotation & A the in included are shares whose issuers the to exchanges stock of requirements the meet shall and Directors of Board the of bers mem non-executive and independent from only elected be shall Committee Audit The election): of are 30.09.2010 given (positions for the moment of the the decision Board of taken on Directors of formed by the Membership Audit Committee election): of moment the for given of taken Directors on 19.08.2010 are (positions Board of decision the by formed Directors of Board of Committee Audit the of Membership unctions of and Commit Strategy Investment unctions of LLCMezhregiongaz; Department at JSC Gazprom, General Director Liquid the Management Board, Seleznyov Kirill Gennadyevich Bank (JSCRRDB); Stock Company Russian Regional Development Joint Open of President Directors, of Board Kurtser Grigory Markovich the Committee); Russische Kommerzial Bank AG (Chairman of of Director General Directors, of Board the of Alexandrovich Nikolai Anoshko Bank (JSCRRDB); Stock Company Russian Regional Development Joint Open of President Directors, of Board Kurtser Grigory Markovich Director ofLLCRN-Energo; General Directors, of Board the of member Mikhailovich Vyacheslav Kravchenko the Committee); Russische Kommerzial Bank AG (Chairman of of Director General Directors, of Board the of Alexandrovich Nikolai Anoshko Hydrocarbons Marketing and Processing Head of the Gas and — member of the — member of the — member of — member — member — — - - - given for the moment of election): of moment the for given of are taken Directors (positions on 16.09.2009 formed by Committee of the decision the Board Strategy and Investment the of Membership times: three re-elected was Directors of Board the of tee Commit Strategy and Investment the 2010 In decisions. investment and reasonable approving activities of tiveness the investment improving Company; of attrac invest-ment the increasing Company; development strategic of principles main and given for the moment of election): of moment the for given of taken Directors on 19.08.2010 are (positions formed by Committee of the decision the Board Strategy and Investment the of Membership eral Directorof LLC RN-Energo; Kravchenko Vyacheslav Mikhailovich sheconombank; Management Board, Deputy Chairman of Borisovich Anatoly Ballo sian Federation(ChairmanoftheCommittee); Board of Directors, Minister of Energy of the Rus- Shmatko Sergey Ivanovich vestment Committee of JSC INTER RAO UES. Board, Management Rizhinashvili George Ilyich bank; porate Skribot Wolfgang sheconombank; Management Board, Deputy Chairman of Borisovich Anatoly Ballo Minister of Energy of the the Russian Yuryevich Stanislav Svetlitskiy (Rosimushchestvo); Federal Agency for State Property Management Nikitin Gleb Sergeevich Corporation Rosatom; Energy Atomic State the at Development for Director General Deputy Directors, of Board Kovalchuk Boris Yurievich sian Federation(ChairmanoftheCommittee); Board of Directors, Minister of Energy of the Rus- Shmatko Sergey Ivanovich Financing Department of JSB Gazprom- — Managing Director of Cor- ead of Strategy and In- and Strategy of Head — Deputy — member of the of member — the of member — — member of the — Member of the — member of the — member of the Head of the Federation; — Deputy — — Gen- Vne- Vne- - - given for the moment of election): of moment the for given on taken of 24.12.2010Directors are (positions formed by Committee of the decision the Board Strategy and Investment the of Membership Nikitin Gleb Sergeevich Investment Committee of JSC INTER RAO UES; the Management Board, Ilbatyrovich Ilnar Mirsiyapov Rosatom; Corporation Energy Atomic State the of rector Di- General Deputy Directors, of Board the of Markovich Alexander Lokshin ister ofEnergytheRussian Federation. Shishkin Andrey Nikolaevich Gazprombank. Corporate the Federation; Russian the the of Energy of Ministry the of Development Energy Electric for Department Vladislavovich Vasily Nikonov (Rosimushchestvo); Federal Agency for State Property Management Skribot Wolfgang Skribot (Rosimushchestvo); Federal Agency for State Property Management Nikitin Gleb Sergeevich In-vestment Committee of JSC INTER RAO UES; Directors, of Board the Ilbatyrovich Ilnar Mirsiyapov Rosatom; Corporation Energy Atomic State the of rector Di- General Deputy Directors, of Board the of Markovich Alexander Lokshin eral DirectorofLLCRN-Energo; Kravchenko Vyacheslav Mikhailovich sheconombank; Management Board, Deputy Chairman of Borisovich Anatoly Ballo sian Federation(ChairmanoftheCommittee); Board of Directors, Minister of Energy of the Rus- Shmatko Sergey Ivanovich bank. porate Skribot Wolfgang Financing Department of JSB Gazprom- inancing Department of JSB of Department Financing — Managing Director of Cor- — Managing Director of Director Managing — ead of Strategy and Strategy of Head — Deputy — Deputy Head of Strategy and — member of the of member — — member of the — Deputy Min- — member of member — — member of member — — member — — member — — Head of the Head of the ead of Head — Gen- Vne- 3.4 (asofDecember31,2010): OF THEBOARDDIRECTORS INFORMATION ABOUTMEMBERS No JSC INTER RAO UES shares in ownership. in shares UES RAO INTER JSC No present — till 2004 2004 2008 present — till 2009 present — till 2008 5years: last the for Positions Citizenship: Economics in Ph.D. Education: birth: of Date UES RAO INTER JSC of Directors of Board the of Chairman IGOR IVANOVICHSECHIN present — till 2006 present — till 2008
— 2008 2008 — — till present till —
JSC NC Rosneft, Chairman of the Board of Directors of Board the of Chairman Rosneft, NC JSC JSC United Shipbuilding Corporation, Chairman of Chairman the Corporation, Board of JSC United Shipbuilding Direc LLC National Oil Consortium, Chairman of the Board of Directors of Board the of Chairman Consortium, Oil LLC National Minister. Prime Russian the the of Government the of Member F Russian the University State Leningrad the from graduated 1960 Deputy Deputy F ROSNE JSC Directors of Board the of Chairman UES, RAO INTER JSC tors ederation ederation H ead ead of of the the of Administration President the the Russian F ederation ederation TEGAZ, Chairman of the Board of Directors of Board the of Chairman TEGAZ, F ederation, Deputy Deputy ederation, -
33 ANNUAL REPORT JSC RAO UES / 2010 34 ANNUAL REPORT JSC RAO UES / 2010 2009 Education: Year birth: of of Member the Board of of Directors JSC RAO INTER of UES, Chairman the Audit Committee NIKOLAI ALEKSANDROVICHANOSHKO 2006 present — till 2009 present 2010 — till 5years: last the for Positions Citizenship: No JSC INTER RAO UES shares in ownership. in shares UES RAO INTER JSC No — 2010 01.2003 present — till 2003 f present — till 2008 present — till 2009
— till present — till — 2010
1950 Directors of Board the of member Bank, Development Regional Russian JSC OJSC Gazprombank Board, the of Chairman to the Advisor F Russian the Berlin of University — General Director — General JSC Bank, Commercial Russian Directors of Board Assistenza present) — till (06.07.2006 (23.02.2006 Directors of Board the of member UES, RAO INTER JSC Directors of Board the of Chairman Deputy Directors Investment Investment netet opn ID company Investment graduated from the Moscow Moscow the from graduated inancial Company Private Asset Partners AG, Partners Asset Private Company inancial F F inanziaria and Commerciale S.r.l., Italy, member of the the of member S.r.l., Italy, Commerciale and inanziaria und GOODROCK GOODROCK und — 03.07.2006), Chairman of the Board of Directors Directors of Board the of Chairman 03.07.2006), — ederation ederation F , member of the Board of Directors Directors of Board the of member , F inancial Institute and the the and Institute inancial F UNDS, Chairman of the Board of of Board the of Chairman UNDS, H umboldt umboldt — 06.2010 06.2009 — 06.2010 06.2009 present — till 06.2010 present — till 06.2010 06.2008 2003 2005 06.2009 06.2009 06.2008 06.2009 present — till 06.2010 present 11.2009 — till 5years: last the for Positions Citizenship: Education: Year birth: of UES RAO INTER JSC of Directors of Board the of Member EVGENY VYACHESLAVOVICHDOD Ordinary shares of JSC INTER RAO UES in ownership, %: 0.1383 ownership, in UES RAO INTER JSC of shares Ordinary %: UES, 0.1383 RAO INTER JSC of capital charter the in Share — 2008 1999 — 2008 1999 — 12.2007 04.2007 — 2009 2007 — 2009 2007 — 2009 2007 — 11.2009 2008 — 2010 06.2009 — 2010 2007 — 03.2010 06.2009 present — till 06.2010 present — till 06.2008 — 2009 2007
— 2009 — — 2009 2009 —
— 12.2008 — — till present till — — 06.2010 — — till present till — — 2010
Member of the Board of Directors of Board the of Member the JSC Directors of Board the of Member system, power Uniform the of operator System JSC NP H NP Board Supervisory the of Member RRDB, JSC JSC Rus JSC Rus JSC F Russian the Ph.D.Economics in eration, Russian the of the President the under Administration of Public Academy the from graduated Russian the Institute, Aviation Moscow 1973 JSC Interregional Distribution Grid Companies (IDGC) Grid Companies Distribution JSC Interregional CJSC INTER RAO UES, Member of the Board of Directors of Board the of Member UES, RAO INTER CJSC Director General UES, RAO INTER CJSC Board Management the of Oy, Chairman Nordic RAO Board tors UES RAO INTER Directors of Board the of Chairman GRES, Moldavskaya CJSC Directors of Board the of Member Company, Energy Eastern JSC Board Management the of Chairman UES, RAO INTER JSC Directors of Board the of ber H Sangtudinskaya JSC Directors of of the Board of Member of the Board Directors, Chairman Market, Directors of Board the of Member Company, Power Industrial CJSC Directors of Board the of GES-1, Member Kambaratinskaya CJSC Board Management the of Member Entrepreneurs, and ists C CJSC Directors of Board the of Member UES, RAO INTER JSC Directors of Board the of Member Company, TGR Enerji, Member of the Management Board Management the of Member TGR Enerji, CJSC Aikakan Atomajin Elektrakayan, Member of Member the Elektrakayan, Atomajin Board CJSC Aikakan of Direc JSC JSC CJSC Electric Networks of Armenia, Member of of Member Networks CJSC the Electric Armenia, Board of Directors Open Joint Stock Company Irkutsk Power Generation and Distribution Open Joint Stock Power and Irkutsk Company Distribution Generation The All-Russian Association of Union of Russian Employers Association Industrial The All-Russian UAB Energijos Realizacijos Centras — UAB of Chairman Realizacijos Energijos the Management F ydropower of Russia, Member of the Supervisory Board Supervisory the of Member Russia, of ydropower irst Power Generating Company on the Wholesale Energy Energy Wholesale the on Company Generating Power irst F H H F R, Member of the Board of Directors of Board the of Member R, ederal Network Company of the Uniform Power System, System, Power Uniform the of Company Network ederal ydro, Member of the Board of Directors of Board the of ydro, Member Board Management the of ydro, Chairman ederation ederation F INANCE LLC, Chairman of the Board of Directors Board of the LLC, Chairman INANCE PP-1, Chairman of the Board of Directors of PP-1, Board the of Chairman H olding, Mem olding, F ed - - - -
35 ANNUAL REPORT JSC RAO UES / 2010 36 ANNUAL REPORT JSC RAO UES / 2010 No JSC INTER RAO UES shares in ownership. in shares UES RAO INTER JSC No 12.2010 present 2010 — till present 2010 — till 5years: last the for Positions Citizenship: Education: Year birth: of UES RAO INTER JSC of Directors of Board the of Member VLADIMIR ALEXANDROVICHDMITRIEV 2007 06.2007 2008 2008 2009 2009 present 2010 — till present — till 2004 — 2009 2008 present — till 2008 present — till 2008 present — till 2009 — 2007 2001 — 2006 2002 — 2007 2004 — 2007 2004
— 2010 — — 2009 — till present till — — till present till — — till present till —
— till —present till — till present till —
State Corporation Russian Corporation of Nanotechnologies, Member Member of Corporation Nanotechnologies, Russian State Corporation LLC V Directors of Board the of member Kamaz, JSC F Russian the Moscow the from graduated 1953 JSC INTER RAO UES, Member of the Board of Directors of Board the of Member UES, RAO INTER JSC JSC North Caucasus Development Corporation, Chairman of the the of Chairman Corporation, Development Caucasus North JSC the Associated Member of Member the the Associated Academy of Russian Natural Sciences JSC NO JSC Board Supervisory the of ( Directors Directors of Board the of Member Stroyrtansgaz, JSC Directors of Board the of Member Aeroflot, JSC tors Directors of Board the of Member Corporation, Aircraft United JSC Board Supervisory the of Chairman Board GLOBE CJSC Directors of Board JSC H JSC Board Supervisory the of AG, Member Donau-Bank Directors of Board the of Member Ltd., (Cyprus), Bank Commercial Russian V CJSC Joint Stock Commercial Industrial and Bank, Ukraine, Investment CJSC Joint Industrial Stock Commercial State Corporation Bank State for and Corporation Development JSC United Shipbuilding Corporation, Member of Member the Corporation, Board of JSC United Shipbuilding Direc JSC International Airport Sheremetievo, Member of the Board of of Board the of Member Sheremetievo, Airport International JSC SOOO Minsk-City, the Republic of Belarus, Member of the Supervisory the SOOO of of Minsk-City, Member Republic Belarus, the Supervisory V nesheconombank of the USSR, Chairman USSR, the of nesheconombank nesheconombank), Chairman, Member of the Supervisory Board Board Supervisory the of Member Chairman, nesheconombank), EB CAPITAL, Chairman of the Supervisory Board Supervisory the of Chairman CAPITAL, EB otel Budapest, Chairman of the Board of Directors of Board the of Chairman Budapest, otel V ATEK, Member of the Board of Directors of Board the of ATEK, Member ederation ederation bank, Chairman of the Supervisory Board Supervisory the of Chairman X bank, F inance Institute, Ph.D. in Economics, Economics, in Ph.D. Institute, inance F oreign Economic Affairs Affairs oreign Economic - 2006 — 2009 2006 — 11.2009 2009 — 02.2010 06.2009 11.2009 present 2010 — till present 2010 — till present — till 06.2010 present — till 06.2010 present — till 06.2010 2010 12.2010 11.2010 present — till 06.2010 present 02.2010 — till present — till 06.2009 present — till 06.2010 5years: last the for Positions Citizenship: Education: Year birth: of Board Management the of Chairman UES, RAO INTER JSC of Directors of Board the of Member BORIS YURIEVICHKOVALCHUK No JSC INTER RAO UES shares in ownership. in shares UES RAO INTER JSC No 12.2010 present — till 12.2010 present — till 12.2010 present — till 11.2010 present — till
— till present till — — 2006
— till present till — — till present till — — 06.2010 —
CJSC Kambaratinskaya GES CJSC Kambaratinskaya for Development for Director General Rosatom, Deputy State Atomic Energy Corporation Board OGK-1, Management JSC the of Member Board LLC RSPP, Management the of Member Board Management the of RSPP),(OOR Member Entrepreneurs and alists of Industri Union Russian of Employers Association All-Russian The Directors of Board the of Member Irkutskenergo, JSC Rus JSC Directors of Board the of ATS,JSC Member Directors of Board the of Member RAO-WorleyParsons, LLC INTER Directors of Board the of OGC-1,JSC Chairman Directors of Board the of Member UES, RAO INTER JSC Board Management the of Chairman UES, RAO INTER JSC F Russian the University State Petersburg St. the from graduated 1977 The Government Executive Office, Office, Executive Government The JSC Unified JSC Energy Sales Company, Unified of Chairman the Board of Direc Government of the the Russian Russian the the of Government Deputy Prime Minister Prime Deputy Projects National Priority of mentation Directors of Board the of Chairman Company, Sales Energy Petersburg St. JSC tors Directors of Board the of Chairman Saratovenergo, JSC Directors of Board of Chairman Mosenergosbyt, JSC Directors of Board the of Chairman Altaienergosbyt, JSC tors JSC INTER JSC RAO INTER UES, the of acting Chairman Board the Management JSC JSC Tambov Power Sales Company, of Chairman the Board of Direc H ydro, Member of the Board of Directors of Board the of ydro, Member ederation — 1, of Chairman the Board of Directors F ederation, assistant to the the to assistant ederation, H ead of Department for Imple for Department of ead F irst irst - - - -
37 ANNUAL REPORT JSC RAO UES / 2010 38 ANNUAL REPORT JSC RAO UES / 2010 present — till 06.2009 present — till 06.2009 present — till 06.2009 present — till 03.2010 present — till 05.2010 present — till 06.2010 present — till 06.2010 present — till 06.2010 07.2010 present — till present — till 08.2010 5years: last the for Positions Citizenship: Education: Year birth: of UES RAO INTER JSC of Directors of Board the of Member VYACHESLAV MIKHAILOVICHKRAVCHENKO 2004 07.2008 07.2009 — 05.2010 present — till 10.2007 present — till 2008 present — till 2008 present — till 06.2008 present — till 06.2008 present 07.2008 — till present — till 09.2008 present — till 2009 present — till 01.2009 present — till 03.2009 present — till 03.2009 06.2009 07.2005 — 06.2009 07.2005 — 06.2009 07.2005 — 06.2009 07.2005 — 06.2009 07.2005 — 06.2009 07.2005 — 06.2009 — 2008 2006 — 06.2009 06.2007 — 06.2009 06.2008
— 07.2008
— 12.2008 — — till present till —
JSC Kuban Generating Company, Member of Company, the Member Board of JSC Kuban Generating Directors Directors of Board the of Member Kubanenergo, JSC Directors of Board the of Member TRK, JSC of Company, the Board of Member JSC TomskDirectors Distributive Directors of Board the of Member RRDB, JSC Directors of Board the of PEC, Member CJSC Directors of Board the of ATS,JSC Member CJSC C CJSC Directors of Board the of Member Grids, Tomsk Backbone JSC Director General OESK, JSC F Russian the University State Moscow Lomonosov from graduated 1967 JSC TGK-1, Directors of JSC Board the of Member H IDGC JSC Directors of Board the of Member Rostopprom, JSC Directors of Board the of Member UES, RAO INTER JSC Directors of Board the of Member Irkutskenergo, JSC Directors of Board the of Member Rosgazifikatsiya, JSC Board Supervisory the of Member Council, Market NP Director General LLC RN-Energo, Directors of Board the of Member Tomskelectrosetremont, JSC Directors of Board the of Member Tomskenergoremont, JSC Directors of Board the of Member Grids, Backbone Kuban Company, of JSC Member Tomskthe Board of Distribution Directors JSC JSC Kuban Power Sales Company, of Member the Board of Directors JSC JSC RAO Energy of Systems the of East, Member the Board of Direc Structural and Tariff Policy in Natural Monopolies Natural in Policy Tariff and Structural of Department the of Director Industry, Power and Industry in Policy Directors of Board the of —Member Urals the of IDGS JSC V of IDGS JSC Directors of Board the of —Member Siberia of IDGS JSC Directors of Board the of —member North-West the of IDGS JSC Directors of Board the of —Member South of IDGS JSC Directors and Center the of IDGS JSC Directors of Board the of Member Energosetproyekt, Institute JSC Directors of Board the of Member Tymenenergo, JSC Directors the of Board of Member Company, Network South JSC tors Deputy Director of the Department of Structural and Investment Investment and Structural of Department the of Director Deputy F R, Member of the Board of Directors of Board the of Member R, olding, Member of the Board of Directors of Board the of Member olding, ederation ederation olga — Member of the Board of Directors of Board the of —Member olga V olga Region, Member of the Board of of Board the of Member Region, olga - 11.2010 — 07.2008 10.2003 No JSC INTER RAO UES shares in ownership. in shares UES RAO INTER JSC No 12.2010 present — till 12.2010 present — till 12.2010 present — till 12.2010 present — till 11.2010 present — till No JSC INTER RAO UES shares in ownership. in shares UES RAO INTER JSC No present — till 06.2010 5years: last the for Positions Citizenship: 06.2010 06.2010 Education: Year birth: of Committee Remuneration and HR the of member and Committee Audit the of member UES, RAO INTER JSC of Directors of Board of Member GRIGORY MARKOVICHKURTSER 01.2007 — 12.2009 — 01.2007 —12.2006 02.2005 present — till 06.2010 present — till 06.2010 — till present till —
— till present till — — till present till —
within the Unified Energy System (NP ATS) —Representative of the the of ATS) —Representative (NP System Energy Unified the within Market Power Wholesale the of TradingSystem of Administrator NP Directors Directors of Board the of Member Company, Sales Power Petersburg St. JSC tors of of Direc Board the TambovCompany, JSC Member Power Sales Directors of Board the of Member Saratovenergo, JSC Directors of Board the of Member Mosenergosbyt, JSC Directors of Board the of Member Altaienergosbyt, JSC tors of Government the the Russian JSC Unified JSC Power Unified Trading Company, of Member the Board of Direc JSC JSC F NE NP F Russian the F Russian the graduated from the the from graduated 1980 F JSC Bank for Department Directors of Board the of Member UES, RAO INTER JSC Board Supervisory the of Rus JSC tors JSC JSC RAO Energy of Systems the of East, Member the Board of Direc JSC Russian Regional Development Bank (RRDB), Development JSC Regional Member President, Russian ixed-income Instruments of the Treasury Treasury the of Instruments ixed-income V TB TB Bank, F H TGARANT, Member of the Board of Directors of Board the of Member TGARANT, ydro, Member of the Board of Directors of Board the of ydro, Member F ederation ederation ederation oreign Trade,oreign for and Ruble of Dealer the Department H ead of Treasury Management Division ead of of Division the Treasury Management F inance Academy under the Government of the of the Government the under Academy inance F ederation in the Supervisory Council. in ederation the Supervisory F inance inance - - -
39 ANNUAL REPORT JSC RAO UES / 2010 40 ANNUAL REPORT JSC RAO UES / 2010 f f 07.2007 —06.2008 07.2007 —06.2008 present 07.2008 — till present 07.2008 — till present — till 10.2008 present — till 12.2008 present — till 05.2009 present — till 06.2009 present — till 06.2009 present — till 10.2009 Education: Year birth: of Committee Investment and Strategy the of member and Committee Remuneration and HR the of member UES, RAO INTER JCS of Directors of Board the of Member ALEXANDER MARKOVICHLOKSHIN No JSC INTER RAO UES shares in ownership. in shares UES RAO INTER JSC No 01.2010 present — till present — till 06.2010 5years: last the for Positions Citizenship:
and Director of the Nuclear Power Complex Directorate Complex Power Nuclear the of Director and Director General Rosatom, Deputy State Atomic Energy Corporation Board ment of the Member Manage Rosatom, Corporation State Energy Atomic Directors of Board the of Member UES, RAO INTER JSC Board Supervisory the of Member Council, Market NP Directors of Board the of Chairman Atomstroyexport, JSC Directors of Board the of Member Atomredmetzoloto, JSC Directors of Board the of Member EGMK-Project, JSC Directors of Board the of Member Materials, Composite LLC New 1957 graduated from the Leningrad Polytechnic Institute named after after named Institute Polytechnic Leningrad the from graduated ment of the the Russian F Russian the the of ment and the M.I.Kalinin Academy of Economy under the National Govern JSC T JSC Directors of Board the of Chairman Concern, Energoatom OJSC F Russian the SUE Rosenergatom Concern, the F the Concern, Rosenergatom SUE Director General acting Concern, Rosenergatom SUE V EL, Chairman of the Board of Directors of Board the of Chairman EL, ederation ederation ederation irst Deputy General Director Director General Deputy irst - - No JSC INTER RAO UES shares in ownership. in shares UES RAO INTER JSC No — 2008 2003 present — till 2008 present — till 2008 2008 present — till 2009 present — till 2009 5years: last the for Positions Citizenship: Education: Year birth: of UES RAO INTER JCS of Directors of Board the of Member YURI ALEXANDROVICHPETROV
— till present till — f Chairman of the Russian F Russian the of Chairman H Directors of Board the of Member Rosneft, NK JSC Directors of Board the of Member UES, RAO INTER JSC tors of Member the Corporation, Board of JSC Direc United Shipbuilding Directors of Board the of Member Corporation, Aircraft United JSC F Russian the Ph.D.Law in University, State Leningrad the from graduated 1947 ederal Agency for State Property Management, ederal Agency for Management, State Property ead of the Legal Department, Deputy Chairman, Acting Chairman, Chairman, Acting Chairman, Deputy Department, of Legal ead the ederation ederation ederal Property F Property ederal und. und. H ead ead of the Agency -
41 ANNUAL REPORT JSC RAO UES / 2010 42 ANNUAL REPORT JSC RAO UES / 2010 Education: Education: Year birth: of of Member the Board of of Directors JCS RAO INTER of UES, member the Audit Committee KIRILL GENNADYEVICHSELEZNYOV 2003 — 2008 2003 2009 — 2006 2003 03.2003 present — till 2003 2006 present — till 2006 present — till 2006 — 2007 2007 present — till 2006 present — till 2007 present — till 2007 present — till 2008 present — till 2008 present — till 06.2010 5years: last the for Positions Citizenship: No JSC INTER RAO UES shares in ownership. in shares UES RAO INTER JSC No —2006 2003 —2007 2003 —2006 2003 —2006 2003 —2010 2003 —2008 2004 —2006 2004 present — till 2003 present — till 2003 present — till 2003 present — till 2004 present — till 2004 present — till 2004 present — till 2005
— till present till — — till present till —
— till present
LLC International Gas Transportation Consortium, Member of the the of Member Consortium, Transportation Gas International LLC 1974 JSC Gazprom Neftekhim Salavat, of Member JSC Neftekhim the Gazprom Board of Directors, CJSC F CJSC Board Management the of Chairman Board, Management the of — Member Electrostantsiya Teplofikatsionnaya Kaunasskaya CJSC Directors of Board the of Member Petersburg, Saint SKA CJSC NO JSC JSC SIBUR H SIBUR JSC Directors of Board the of Member Mosenergo, JSC Directors of Board the of Member UES, RAO INTER JSC Directors of No.1,ChairmanBoard the of Company Generating Territorial JSC Directors of Board the of Member Gazprombank, JSC F Russian the University State Petersburg St. the CJSC ArmRosgazprom, Chairman of the Board of Directors of Board the of Chairman ArmRosgazprom, CJSC Directors of Board the of Chairman LLC Sevmorneftegaz, Directors of Board the of Member Rosshelf, CJSC Directors of Board the of Chairman Directors, of Board the of Member Gaz-Oil, CJSC Directors of Board the of Chairman Gazenergoprombank, CJSC Participants of Board Directors of Board the of Member Russia, of UES RAO JSC Directors of Board the of Member Centrgaz, JSC Directors of Board the of Member Board ment Manage the of Member Gazprom, JSC of Department Processing Directors of Board the of Chairman Directors, of Board the of Member Gaze, Latvias JSC Directors of Board the of Chairman V JSC Board Supervisory the of Member KazRosGaz, LLP Board Management the of Member Duyos, Lietuvos JSC Directors of Board the of Member Gazpromregiongaz, JSC Directors of Board of Member Tomskgazprom, JSC Directors of Board the of Member Nortgaz, CJSC Board Supervisory graduated graduated from the D. LLC Gazprom Mezhregiongaz, General Director General (on LLC Mezhregiongaz, a Gazprom basis) part-time JSC SIBUR JSC — SIBUR Mineral Nonprofit Partnership Russian Gas Society (RGS Gas Russian Society NP), Partnership of Nonprofit Member the JSC Gazprom, Gazprom, JSC ostokgazprom, Member of the Board of Directors of Board the of Member ostokgazprom, ooball Club Zenit, Member of the Board of Directors of Board the of Member Zenit, Club ooball V ATEK, Member of the Board of Directors of Board the of ATEK, Member olding, Member of the Board of Directors of Board the of Member olding, ederation ederation H ead of Marketing, Gas & Liquid Liquid & Gas Marketing, of ead F F . Ustinov Baltic State Technical University . and State Ustinov Baltic Technical University ertilizers, Chairman of Chairman the ertilizers, Board of Directors, H ydrocarbons ydrocarbons - No JSC INTER RAO UES shares in ownership. in shares UES RAO INTER JSC No — 2005 2002 — 05.2005 01.2005 — 05.2008 06.2005 — 05.2008 02.2008 present — till 08.2008 present — till 2008 present — till 12.2008 present — till 12.2008 present — till 12.2008 11.2009 5years: last the for Positions Citizenship: Education: Year birth: of Committee Investment and Strategy the of Chairman Committee, Remuneration and HR the of Chairman UES, RAO INTER JCS of Directors of Board the of Member SERGEY IVANOVICHSHMATKO present — till 05.2008 present — till 2009 present — till 2009 present — till 2009
— till present till —
The State Conversion F Conversion State The V Atomstroyexport, CJSC President Atomstroyexport, CJSC Director General Deputy Atomenergoprom, JSC ZARUBEZ JSC Directors of Board the of Member UES, RAO INTER JSC H IDGC JSC F JSC Rus JSC the Russian F Russian the University State Ural the from graduated 1966 Ministry of Energy of the the Russian F Russian the the of Energy of Ministry Directors of Board the of Member Gazprom, JSC Directors of Board the of Chairman Transneft, JSC Directors of Board the of Member UES, SO JSC Board State Atomic Energy Corporation Rosatom, Member of the Supervisory State of Rosatom, Member Atomic Energy Corporation the Supervisory GC UES, Chairman of the Board of Directors of Board the of Chairman UES, GC H ydro, Chairman of the Board of Directors of Board the of ydro, Chairman olding, Chairman of the Board of Directors of Board the of Chairman olding, ederation ederation H NE F T, Chairman of the Board of Directors of Board the of T, Chairman und, Chairman Chairman und, ice-President ederation, Minister ederation,
43 ANNUAL REPORT JSC RAO UES / 2010 44 ANNUAL REPORT JSC RAO UES / 2010 Meeting of Shareholders held of on Meeting June Shareholders 25, 2010. RAO INTER UES by of the decision the General the of Chairman Board the of Management JSC elected was he Then 2009. 25, November on Board of of Directors JSC RAO INTER UES held the of Meeting the at taken resolution the by JSC RAO INTER UES 26, since November 2009 of Board Management the of Chairman acting the appointed was Kovalchuk Yuryevich Boris Company. the of policy and of for goals, strategy implementation sponsible Board of is The reChairman the Management meeting. the in participating shares Shareholders of Meeting be elected for the 5 years by period the General shall Board of Management the Chairman The Shareholders. of Meeting General the of resolution by accomplished be shall authority his/her of termination early and Company the of Board Management the of Chairman the of Board of of Directors the Company. The election to and the of Meeting the General Shareholders ment Board of the and Company is accountable Board is Management in charge of the Manage power of without attorney. The of Chairman the Company the of behalf on act to right the has and Company the of body executive sole the is Board Management the of Chairman The Yuryevich. KO is UES RAO INTER JSC of Board Management the of Chairman The of theManagementBoard The Chairman 3.5 EXECUTIV BODIES — owners of voting voting of owners — V ALC H UK Boris Boris UK - - the General Meeting of ShareholderstheGeneral ofMeetingandthe Managementties.TheaccountableBoard is to Companymanagingcurrenttheofactivi body collectiveexecutivea isManagement Board THE MANAGEMENTBOARD members of Management Board were: Board Management of members the During from period 01.01.2010 till 17.02.2010 changed. was Board Management the of composition the 2010 In shall be elected by the Board of Directors. Management Board shall be determined and they BoardRegulations. memberstheNumberof is regulated by the Charter and the Management the Company. The Management Board’s activity implementationstrategygoals,ofpolicy ofand years. The Management Board is responsible for ManagementBoard ofthe Company for five (5) therecommendation Chairmanofuponthe of elected by the Board of Directors of the Company Managementtheof BoardCompany theofare Company.DirectorstheofBoardof Members 29.07.2008). Ilyich George Rizhinashvili 23.05.2008). Valeryevich Alexandr Nikitin Mikalaunas Dangiras 23.05.2008). on (elected Board Management the of man Mantrov Michael Alekseevich, on 23.05.2008). (elected Board Management the of Chairman Yuryevich, Vyacheslav Artamonov 26.11.2009). on (elected Board Management the of man Yuryevich, Boris Kovalchuk (elected on 23.05.2008). Deputy Chair- eetd on (elected acting Chair- acting (elected on (elected Deputy - was taken to: taken was decision the No.24) 17.02.2010 (Minutes on held Directors of Board the of session the At was taken to: taken was held on 25.06.2010 No.5) (Minutes the decision At of the Meeting General Annual shareholders to: taken was decision the 26) No. (Minutes 26.04.2010 on held Directors of Board the of Meeting the At Board ofJSCINTERRAOUES; and the Deputy Chairman of the Management Board Management the of member kseevich, Terminate the authority of Mantrov Michael Ale- on 23.05.2008). (elected Vladimirovich Yuri Sharov on 23.05.2008). Nikolaevich Sergey Tolstoguzov 29.07.2008). Yuryevich Sergey Rumyantsev Board fromJune26,2010. Management UES RAO INTER JSC of man Chair- the as Yuryevich Boris Kovalchuk Elect UES Management Board, from June 25, 2010. acheslavovich, the Chairman of JSC INTER RAO Early terminate the authority of Dod Evgeny of JSCINTERRAOUESManagementBoard. Elect Boris Alexander Gennadyevich as member one member,upto9(nine)members. by be increase shall membership Board ment Determine that JSC INTER RAO UES Manage- 8 (eight)members. of consist shall Board Management UES RAO Determine thatthemembershipofJSCINTER Board ofJSCINTERRAOUES; TER RAO UES as member of the Management division, Finance the Nikolaevich, Dmitry Palunin Elect INTER RAOUES; Ilyich, member the Management Board of JSC Terminate the authority of Rizhinashvili George inance Director of JSC IN- JSC of Director Finance (elected on (elected (elected ead of Head Vy- was taken to: taken was decision the No.33) 29.10.2010(Minutes on held Directors of Board the of meeting the At to: taken was decision the No.30) (Minutes 19.08.2010 on held Directors of Board the of Meeting the At Management Boardfrom29.20.2010. UES RAO INTER JSC of member Nikolaevich, Terminate the authority of Tolstoguzov Sergey UES. of JSC Division RAO INTER Relations Property Governance, porate Cor for Director Borisovich, Oleg Oksuzian and Investment Division of JSC INTER RAO UES; Ilbatyrovich, Ilnar Mirsiyapov RAO UES; INTER JSC of Center Economics and nance Andrey Golovlyov following persons: the Board Management UES RAO INTER JSC of members as 2010 20, August from Elect 11 (eleven)persons. to up increase members Board Management UES RAO INTER JSC of number Determine agement BoardfromAugust19,2010. yevich, member of JSC INTER RAO UES Man- Terminate the authority of Nikitin Alexandr Vladimirovich, H ead of Corporate and and Corporate of ead ead of Strategy of Head ead of Head Valer- Fi- - members: following of the consists UES RAO INTER JSC of Board 31.12.2010Management of the As Sharov Yuri Vladimirovich, of theTradingBlockJSCINTERRAOUES; Board, Management the of Chairman Yuryevich, Vyacheslav Artamonov Management Board; Kovalchuk Boris Yuryevich, Board, from30.10.2010. member of JSC INTER RAO UES Management Operations Division of JSC INTER RAO UES, as Elect Okley Pavel Ivanovich, Property Relations Unit of JSC INTER RAO UES; Management Board, Borisovich, Oleg Oksuzian Europe ofJSCINTERRAOUES; ment Board, Mikalaunas Dangiras, and Economics Center of JSC INTER RAO UES; Board, Management the Golovlyov Andrey Vladimirovich, JSC INTERRAOUESManagementBoard; Gennadyevich, Alexander Boris of JSCINTERRAOUES; for Engineering and Construction Management of the Management Board, Head of the Geographical Division Head of the Corporate and Member of the Manage- ead of the of Head Head of the Centre Head of Production Deputy Chairman member of the of member Chairman of the Member of Member of Member Finance
Deputy Head in absentia. in 57 and presence in 26 including held, were In 2010 83 of meetings Board the Management totaling RUR 374 RUR thousand. totaling 734 program) optional allowances, (payroll, bonuses, Board of the received remunerations Company F or 2010 the members of the Management Management the of members the 2010 or of JSCINTERRAOUES. the Management Board; Director for Economics Rumyantsev Sergey Yuryevich, Finance DirectorofJSCINTERRAOUES; Management Board; Palunin Dmitry Nikolaevich, tions UnitofJSCINTERRAOUES; agement Board, Okley Pavel Ivanovich, Head of the Production Opera- Head of the a member of the Man- a member of the Finance Unit, a member of —
45 ANNUAL REPORT JSC RAO UES / 2010 46 ANNUAL REPORT JSC RAO UES / 2010 3.6 (As of31/12/2010) ACTIVE MEMBERSOFTHMANAGEMENTBOARD present — till 06.2010 present 02.2010 — till present — till 06.2009 present — till 06.2010 5years: last the for Positions Citizenship: Education: Year birth: of Board Management the of Chairman UES, RAO INTER JSC of Directors of Board the of Member BORIS YURIEVICHKOVALCHUK No JSC INTER RAO UES shares in ownership. in shares UES RAO INTER JSC No 12.2010 present — till 12.2010 12.2010 present — till 12.2010 present — till 11.2010 present — till 11.2010 2006 — 2009 2006 — 11.2009 2009 — 02.2010 06.2009 11.2009 present — till 06.2010 present — till 06.2010 2010 present 2010 — till present 2010 — till present — till 06.2010
— till present till — — 2006
— till present — till present — 06.2010 —
CJSC Kambaratinskaya GES CJSC Kambaratinskaya LLC INTER RAO-WorleyParsons, Member of the Board of Directors of Board the of Member RAO-WorleyParsons, LLC INTER Directors of Board the of OGC-1,JSC Chairman Directors of Board the of Member UES, RAO INTER JSC Board Management the of Chairman UES, RAO INTER JSC F Russian the University State Petersburg St. the from graduated 1977 of Directors of Board the of Chairman Company, Sales Energy Petersburg St. JSC Directors of Board the of Chairman Saratovenergo, JSC Directors of Board of Chairman Mosenergosbyt, JSC Directors of Board the of Chairman Altaienergosbyt, JSC Development for Director General Rosatom, Deputy State Atomic Energy Corporation Board OGK-1, Management JSC the of Member Rus JSC Directors of Board the of ATS,JSC Member LLC RSPP, Member of the Management Board LLC RSPP, Management the of Member Board Management the of RSPP),(OOR Member Entrepreneurs and alists of Industri Union Russian of Employers Association All-Russian The Directors of Board the of Member Irkutskenergo, JSC The Government Executive Office, Office, Executive Government The Government of the the Russian Russian the the of Government Deputy Prime Minister Prime Deputy Projects National Priority of mentation JSC Unified Energy Sales Company, Chairman of the Board of Directors JSC INTER JSC RAO INTER UES, the of acting Chairman Board the Management JSC Tambov Power Sales Company, Chairman of the Board of Directors H ydro, Member of the Board of Directors of Board the of ydro, Member ederation — 1, of Chairman the Board of Directors F ederation, assistant to the the to assistant ederation, H ead of Department for Imple for Department of ead F irst irst - - present 11.2009 — till 05.2008 — 12.2008 05.2008 — 06.2009 06.2008 06.2009 present — till 2008 5years: last the for Positions Citizenship: Education: Year birth: of Unit Trading the of Head Board, Management the of Chairman Deputy VYACHESLAV YURYEVICHARTAMONOV Ordinary shares of JSC INTER RAO UES in ownership, %: 0.0691 ownership, in UES RAO INTER JSC of shares Ordinary %: UES, 0.0691 RAO INTER JSC of capital charter the in Share 11.2010 present — till 11.2010 present — till —2008 2000 —12.2007 04.2007 —05.2008 06.2007 —06.2009 2006 —06.2009 08.2007 —05.2009 09.2008 present — till 06.2010 — present till —
JSC OGC-1, Member of the Management Board Management the of OGC-1,JSC Member Open Open Joint Stock MOSENE Company H Board, Management of the Chairman Deputy UES, RAO INTER JSC F Russian the sciences Ph.D.technical in University), (Technical Institute Engineering Power Moscow the from graduated 1957 UAB Energijos Realizacijos Centras, Member of the Management Management the of Member Centras, Realizacijos Energijos UAB tors tors of Direc Board of the Company, Member Sales Energy Unified JSC Directors of Board the of Member Altaienergosbyt, JSC Trading Trading for Unit the of Director UES, RAO INTER CJSC Board Management the of Oy, Member Nordic RAO Directors of TPP, Board the of Member North-West JSC Board Directors of Board the of Member Baltia, UES RAO INTER CJSC Director General of Power Company, the of Board Member Directors, Industrial CJSC Board Management the of Member TGR Enerji, Directors Directors of Board the of Member OGC-5, Enel JSC Directors of Board the of Member JSC Ispytatelny Stend Ivanovskoy GRES, Member of the Board of of Board the of Member GRES, Ivanovskoy Stend Ispytatelny JSC ead of the Trading Unit the of ead ederation ederation H ead of the Trading Unit, Deputy General General Deputy Unit, Trading the of ead X (Moscow Energy Exchange), -
47 ANNUAL REPORT JSC RAO UES / 2010 48 ANNUAL REPORT JSC RAO UES / 2010 07.2010 present — till present — till 2008 present — till 06.2009 present — till 06.2009 present — till 10.2009 present 11.2009 — till present — till 12.2009 present — till 06.2010 —2007 2005 —2007 2006 —06.2010 06.2008 present — till 08.2010 5years: last the for Positions Citizenship: Education: Year birth: of Division Engineering and Construction the of Head Board, Management the of Chairman Deputy YURI VLADIMIROVICHSHAROV 2004 — 2006 — 2004 11.2004 —04.2007 —12.2007 2005 —04.2007 2005 2007 — 2005 — 2008 2006 2008 present — till 03.2010 present — till 06.2010 06.2010 No JSC INTER RAO UES shares in ownership. in shares UES RAO INTER JSC No present — till 2003 11.2009 —04.2010 — 08.2010 2008 07.2008 —06.2010
— till present till —
— till present till —
LLC UK Q LLC UK JSC Sangtudinskaya H Sangtudinskaya JSC Directors of Board the of Member ENIN, JSC Directors of Board the of Member GES, Kambaratinskaya CJSC President companies, engineering of association National Directors of Board of the Member and Board OGC-1,JSC of Management the Member Directors of Board the of Chairman GRES-2, Ekibastuzskaya JSC V LLC NP JSC V JSC Board Supervisory the of Telasi, Member JSC (PGEEK) to China Export Power Electric of Directors of Board the of Member and Chairman Industry, Power of NTC JSC H Board, of Management the Chairman Deputy UES, RAO INTER JSC F Russian the 1959 RAO Nordic Oy, Member of the Management Board Management the of Oy, Member Nordic RAO Board Management the of Member TGR Enerji, Board Supervisory the of Member Ukraine, UES RAO INTER CJSC LLC INTERENERGOE Directors of Board the of Member RAO-WorleyParsons, LLC INTER graduated from the Moscow Power Engineering Institute and G. and Institute Engineering Power Moscow the from graduated JSC RAO UES of Russia, Deputy Managing Director, Managing Deputy Russia, of UES RAO JSC Plekhanov Russian Economics Academy, Economics Ph.D.Russian Plekhanov in sciences technical power systems power Institute Power Engineering Moscow Group in of Development for Group Project Rus JSC Directors of & F Division, Engineering and Construction the Board, Management the of Member UES, RAO INTER JSC Directors of Board the of Member Dalenergosetproyekt, JSC JSC RAO UES of Russia, Deputy Managing Director, LLC JSC JSC Eastern Energy Company, Director,General of Member the Board CJSC Electric Networks of Armenia, Member of of Member Networks CJSC the Electric Armenia, Board of Directors ead of the Construction and Engineering Division Engineering and Construction the of ead ar East Geographical Division Geographical East ar Q olzhskaya TGK, Member of the Board of Directors of Board the of Member TGK, olzhskaya UARTZ H F TI, Member of the Supervisory Board Supervisory the of Member TI, UARTZ, Member of the Board of Directors of Board the of Member UARTZ, ydro, Member of the Management Board Management the of ydro, Member oreign Economicof Activity Unit the Business Networks ederation ederation — New of Member Technologies, the Board of Directors FF PP-1, Member of the Board of Directors of PP-1, Board the of Member ECT, Chairman of the Board of Directors of Board the of ECT, Chairman F easibility Study for the Increase Increase the for Study easibility — H ead of the Chair of Electric ead of of the Chair Electric H ead of the Central Asia Asia ead of Central the H ead of the Project H ead of the the of ead H ead of of ead V . No JSC INTER RAO UES shares in ownership. in shares UES RAO INTER JSC No present 2010 — till present 2010 — till present 2010 — till —2006 2004 —2009 2006 —2010 2009 present — till 2009 5years: last the for Positions Citizenship: Education: Year birth: of Board Management the of Member ALEXANDER GENNADYEVICHBORIS JSC Utility JSC Utility Directors of Board the of JSC JSC CJSC ELECTROLUC CJSC Projects Capital of Administration and Management of Department Services, Security Social and Supply Technical and rial F Projects National Priority of Department Russian the the of Government Center ment of Develop the Director Rosatom, Corporation Energy Atomic State Board Management the of Member UES, RAO INTER JSC F Russian the (2002-2005) Petersburg) (Saint service public of academy (1980-1985),Northwest Industry eration Refrig the of Institute Technological Leningrad the from graduated 1959 TaxService ederal H ealth and Recreation Resort Complex Lukomorje, Chairman Chairman Lukomorje, Complex Resort Recreation and ealth V ehicles Department, Chairman of of the Board Directors Chairman Department, ehicles ederation ederation — Deputy Director of the Department of Mate of Department the of Director Deputy — H , Chairman of the Board of Directors of Board the of , Chairman F ederation, Deputy Director of the the of Director Deputy ederation, H ead of the the of ead - - -
49 ANNUAL REPORT JSC RAO UES / 2010 50 ANNUAL REPORT JSC RAO UES / 2010 Ordinary shares of JSC INTER RAO UES in ownership, %: 0.0347 ownership, in UES RAO INTER JSC of shares Ordinary %: UES, 0.0347 RAO INTER JSC of capital charter in Share —09.2005 09.2003 2003 — 04.2007 2005 — 2007 2007 — 05.2009 06.2008 present — till 12.2007 present — till 2008 present — till 03.2010 5years: last the for Positions Citizenship: Education: Year birth: of Europe Division Geographical the of Head Board, Management the of Member DANGIRAS MIKALAUNAS Education: Education: Year birth: of Board Management the of Member ANDREY VLADIMOROVICHGOLOVLYOV 2006 No JSC INTER RAO UES shares in ownership. in shares UES RAO INTER JSC No — 2006 2005 — 2010 2009 present 2010 —till 5years: last the for Positions Citizenship:
— 2007 — 2008
JSC Telasi — General Director Director Telasi —General JSC CJSC INTER RAO UES Ukraine, Member of the Supervisory Board Supervisory the of Member Ukraine, UES RAO INTER CJSC F JSC Directors of Board the of Member GRES, Moldavskaya CJSC Board Management the of Oy, Chairman Nordic RAO Europe Division Geographical the Board, Management the of Member UES, RAO INTER JSC Board Management the of Chairman Lietuva, RAO INTER UAB Lithuania of Republic the University Technological Kaunas the from graduated 1966 H CJSC INTER RAO UES, Asset Manager, Deputy General Director, General Deputy Manager, Asset UES, RAO INTER CJSC 1962 LLC Interbank Trading H LLC Interbank Director General Corporation, Drilling LLC Well F the Board, Management the of Member UES, RAO INTER JSC F Russian the F Russian the the of Government the under Economy National of Academy (PPG graduated from the Novosibirsk Electrotechnical Institute and the the and Institute Electrotechnical Novosibirsk the from graduated JSC Priargunsky Production Mining and Chemical Association Association Chemical and Mining Production Priargunsky JSC ead of the Geographical Division Europe Europe Division Geographical the of ead inance and Economics Center Economics and inance H GC UES, Director for Asset Management Asset for Director UES, GC O), Director for economics and finance and economics O), for Director ederation ederation ederation ouse, Advisor to General Director Director to General Advisor ouse, H H ead of of ead ead of of ead present — till 06.2010 No JSC INTER RAO UES shares in ownership. in shares UES RAO INTER JSC No — 2006 2005 2007 2009 06.2010 present — till 08.2010 present — till 06.2010 present — till 09.2010 5years: last the for Positions Citizenship: Education: Year birth: of Block Investment and Strategy the of Head Board, Management the of Member ILNAR ILBATYROVICHMirsiyapov — 2007 2006 — 2009 2008 present — till 09.2010 present — till 09.2010 present — till 04.2010 present — till 05.2010
— 2008 — — 08.2010
— till present till —
RAO Nordic Oy, Member of the Management Board Management the of Oy, Member Nordic RAO Unit Investment and Strategy the Deputy H Deputy acting and Development, for Governance Corporate partment manager manager information business Stroyneft, Management Project of Center JSC JSC JSC Atomic Energy Director Power of Corporation, the Administration JSC INTER RAO UES, Member of the Management Board, Board, Management the of Member UES, RAO INTER JSC Directors of Board the of Member Company, Power Eastern JSC Board Management the of Member TGR Enerji, F Russian the Institute Oil State Almetjevsk and eration of Ministry the of (University) Relations of International Institute State Moscow the from graduated 1982 JSC INTER RAO UES, UES, RAO INTER JSC F Department of Deputy the Department, Deputy Rosatom, Corporation Energy Atomic State Board Management the of to Chairman Advisor Directors of Board the of Chairman Capital, RAO INTER CJSC Board Management the of Member Lietuva, RAO INTER UAB Directors of Board the of Chairman Invest, RAO LLC INTER TGK-11,JSC Directors of Board the of Member tors CJSC Armenian Nuclear Power Nuclear Plant, of CJSC Armenian Member the Board of Direc ederal Atomic Energy Agency, Deputy Deputy Agency, Energy Atomic ederal ead of Administration of ead ederation ederation H ead of the Strategy and Investment Unit, Unit, Investment and Strategy the of ead H ead ead of the Legal Corporate Department F oreign Affairs of the the Russian Russian the the of Affairs oreign H ead of the Administration, Administration, the of ead H ead of the De of ead the H ead of of ead H F ead ead ed - - -
51 ANNUAL REPORT JSC RAO UES / 2010 52 ANNUAL REPORT JSC RAO UES / 2010 — 07.2008 12.2005 07.2008 — 08.2010 present 10.2010 — till 5years: last the for Positions Citizenship: Education: Year birth: of Unit Operations Production the of Head Board, Management the of Member PAVEL IVANOVICHOKLEY 05.2008 No JSC INTER RAO UES shares in ownership. in shares UES RAO INTER JSC No 12.2010 present — till 11.2010 present — till
— 06.2008 —
for management of interregional distribution complexes distribution interregional of management for Deputy complexes, tion JSC JSC JSC H JSC Unit Operations Production the Board, Management the of Member UES, RAO INTER JSC F Russian the Engineers. Railway for Institute Omsk the from graduated 1970 JSC OGC-1, Member of the Management Board Board Management the of OGC-1,JSC Member Director OGC-1,JSC Executive basis) (on apart-time Business-Unit JSC JSC RAO UES Director of Managing of Deputy Russia, F GC UES, Deputy Deputy UES, GC olding IDGC, Deputy General Director, Technical Director Director, Technical General Deputy IDGC, olding ederation ederation H H ead of the Center for interregional distribu interregional for Center of the ead ead for technical development of Center Center of development technical for ead H olding IDGC olding H ead of of ead - —2008 2005 —2009 2008 —2010 2009 —08.2010 06.2010 1998 — 2005 — 1998 — 2007 2005 Education: Year birth: of Unit Relations Property and Corporate the of Head Board, Management the of Member OLEG BORISOVICHOKSUZIAN 07.2010 present — till 5years: last the for Positions Citizenship: No JSC INTER RAO UES shares in ownership. ownership. in shares UES RAO INTER JSC No 12.2010 present — till
JSC H JSC Rus JSC Rus JSC — H Energy of LLC Index Unit Relations Property and Corporate the 1960 JSC Managing Company Company Managing JSC JSC INTER RAO UES, Member of the Management Board, Board, Management the of Member UES, RAO INTER JSC F Russian the F Russian the and the Academy of Economy the of under National Government the CJSC INTER RAO Capital, Member of the Board of Directors Directors of Board the of Member Capital, RAO INTER CJSC H the of Director Managing Deputy Department, Policy Corporate of basis) (on apart-time Governance Corporate JSC JSC RAO UES of Russia, graduated graduated from the Novorossiysk ydrogeneration Business-unit ydrogeneration — Member of the Management Board Management the of — Member ydroOGC H H ydro, Member of the Management Board Management the of ydro, Member Governance Corporate for Director ydro, Managing ederation ederation ederation H ydroOGC, General Director General ydroOGC, ead ead of the Policy Corporate Division, H ydroOGC, Deputy General Director for for Director General Deputy ydroOGC, H igher Engineering Maritime School School Maritime igher Engineering H ead of of ead H ead ead
53 ANNUAL REPORT JSC RAO UES / 2010 54 ANNUAL REPORT JSC RAO UES / 2010 Ordinary shares of JSC INTER RAO UES in ownership, %: 0.0068 ownership, in UES RAO INTER JSC of shares Ordinary %: UES, 0.0068 RAO INTER JSC of capital charter in Share present — till 02.2009 present — till 04.2009 present — till 06.2009 —2008 2002 present — till 09.2009 present 11.2009 — till present — till 06.2010 present — till 06.2010 —04.2009 08.2007 present 2010 — till present — till 03.2010 present — till 03.2010 present — till 03.2010 present — till 04.2010 present — till 09.2010 present — till 09.2010 5years: last the for Positions Citizenship: Education: Year birth: of Director Finance Board, Management the of Member DMITRY NIKOLAEVICHPALUNIN 2008 — 2010 — 2008 11.2009 —03.2010 — 06.2010 12.2009 present — till 08.2007 01.2009 06.2010 present — till 04.2010 present — till 05.2010
— till present till — — till present till —
RAO Nordic Oy, Member of the Management Board Management the of Oy, Member Nordic RAO Board Supervisory the of Member Asia, Central RAO INTER LLP Directors of Board the of Member Stand, JSC nance, H nance, CJSC INTER RAO UES, Deputy Deputy UES, RAO INTER CJSC ELECTROLUC CJSC Board Management the of OGC-1,JSC Member Director JSC Eastern Power Company, Member of the Board of Directors of Board the of Member Company, Power Eastern JSC Directors of Board the JSC LLC INTER RAO UES F UES RAO LLC INTER JSC INTER RAO UES, Member of the Management Board, Board, Management the of Member UES, RAO INTER JSC Directors of Board the of Member Capital, RAO INTER CJSC Board Management of Member Lietuva, RAO INTER UAB Board Supervisory the of Member Kazenergoresurs, LLP Board Supervisory the of Member Invest, RAO LLC INTER JSC Sangtudinskaya H Sangtudinskaya JSC Board Management the of Member TGR Enerji, F Russian the versity) Uni (Technical Institute Aviation State Moscow the from graduated 1969 V SER RAO LLC INTER Directors of Board the of Member GRES, Moldavskaya CJSC Directors of Board UES RAO LLC INTER CJSC Armenian Nuclear Power Nuclear Plant, of CJSC Armenian Member the Board of Direc H V SER RAO LLC INTER TGK-11,JSC Directors of Board the of Member tors JSC INTER JSC RAO INTER UES, Deputy CJSC Electric Networks of Armenia, Member of of Member Networks CJSC the Electric Armenia, Board of Directors ead of the Treasury Department Treasury the of ead H ealth and Recreation Resort Complex Lukomorye, Member of Member Lukomorye, Complex Resort and Recreation ealth ead of the Treasury Department Department Treasury the of ead ederation ederation H F ICE, Chairman of the Board of Directors of Board the of Chairman ICE, ICE, Member of the Board of Directors of Board the of Member ICE, , Member of the Supervisory Board Supervisory the of , Member PP-1, Member of the Board of Directors of PP-1, Board the of Member INANCE, Deputy Chairman & Member of the of the & Member Chairman Deputy INANCE, INANCE, General Director General INANCE, F inance Director inance for Corporate F inance Director for Corporate Corporate for Director inance F F inance, inance, inance inance F i - - - —09.2010 06.2010 No JSC INTER RAO UES shares in ownership. in shares UES RAO INTER JSC No 10.2008 — 05.2009 — 10.2008 06.2010 — 03.2010 06.2009 08.2009 Education: Year birth: of Economics for Director Board; Management the of Member SERGEY YURYEVICHRUMYANTSEV present — till 05.2010 present — till 06.2010 present — till 06.2010 5years: last the for Positions Citizenship: —2005 2002 —2008 2005 present — till 2008
— till present till — — till present till —
JSC Sangtudinskaya H Sangtudinskaya JSC Unit Programs Investment and Economics the 1956 CJSC Electric Networks of Armenia, Member of of Member Networks CJSC the Electric Armenia, Board of Directors CJSC Armenian Nuclear Power Nuclear Plant, of CJSC Armenian Member the Board of Direc JSC TGK-11,JSC Directors of Board the of Member RazTPP, Directors of JSC Board the of Member Directors of Board the of Member Company, Power Industrial CJSC F Russian the Ordzhonikidze, S. after named Institute ment Board for Settlements and F and Settlements for Board ment Manage of the Chairman Deputy System, Energy Unified the within Market Power Wholesale the of TradingSystem of Administrator NP Board Management the of Member Director, Sales General Deputy Economics, for tor Direc General Deputy Mosenergo, JSC of Power and Electrification tors Board; Management the of Member UES, RAO INTER JSC tors Directors of Board the of JSC JSC OGC-1, of Member Board the JSC Management OGC-1, Member graduated graduated from the Moscow Order of Red Management Labor Banner CJSC International Power Corporation, Member of Member Power the Corporation, CJSC International Board of Direc ederation ederation PP-1, Member of the Board of Directors of PP-1, Board the of Member inance inance H ead of of ead - - - -
55 ANNUAL REPORT JSC RAO UES / 2010 56 ANNUAL REPORT JSC RAO UES / 2010 MEMBERS OFTHEREVISIONCOMMISSION(asof31.12.2010) Commission. erned by the Charter and Regulations on Revision The ofactivity the Revision is Commission gov is a collective body consisting of five members. activities of the Company. Revision Commission economic and financial controlling of purpose by the General Meeting of Shareholders for the Revision Commission of the Company is elected 3.7 REVISION COMMISSION - present — till 2008 5years: last the for Positions No JSC INTER RAO UES shares in ownership. in shares UES RAO INTER JSC No — 2006 2004 2006 Education: Year birth: of VASILYEV VLADIMIRANATOLYEVICH of 14 788 rubles. thousand nuses, allowances, remunerations) in the amount bo wages, (including remuneration received In 2010 the members of the Revision Commission Annual Annual General Meeting of shareholders of JSC the by elected working been has Commission Revision the 25.06.2010 till 25.06.2009 Since
— 2008 —
Programs of Assurance of Nuclear and Radiation Safety Radiation and Nuclear of Assurance of Programs Department, Accounting and Stare Atomic Energy Corporation Rosatom, Deputy Rosatom, Deputy Stare Atomic Energy Corporation Accounting, Settlements and Audit Department Department Audit and Settlements Accounting, F F of Institute Distance-Learning State All-Russian the from graduated 1961 F SUE Mining-Chemical Complex, Deputy General Director General for Deputy Complex, SUE Mining-Chemical ederal Atomic Energy Agency Rosatom, Deputy Deputy Rosatom, Agency Energy Atomic ederal inance and Economics Economics and inance - mission: Com Revision the of members following the elected UES RAO INTER JSC of shareholders of Meeting General Annual the 25.06.2010 On the following members: of consisting 25.06.2010, on UES RAO INTER Zakharov AlexeyMikhailovich Vasilyev VladimirAnatolyevich Chigirin IvanIvanovich Ryzhkova ElenaGennadyevna Vorobjeva TamaraBorisovna Ananjeva NataliaAleksandrovna Peshkov MaximEvgenyevich Chigirin IvanIvanovich Ryzhkova ElenaGennadyevna Ivanova ElenaFyodorovna H ead of the Division for Implementing Implementing for Division the of ead H H ead of of ead ead ead of F F F inance, inance, inance inance inance - — 2007 2006 No JSC INTER RAO UES shares in ownership. in shares UES RAO INTER JSC No present — till 2007 5years: last the for Positions Education: Year birth: of IVANOVA ELENAFYODOROVNA ownership. in shares UES RAO INTER JSC No — 2006 2005 — 2007 2006 2007 2009 5years: last the for Positions Education: Year birth: of ZAKHAROV ALEXEYMIKHAILIVOCH
— 2009 — till present till —
LLC Atomenergo- Director Director and Audit, Chief Expert on F on Expert Chief Audit, and JSC INTER RAO UES, UES, RAO INTER JSC F and Economics of University State Petersburg Saint the from graduated 1978 TRUST, specialist Bank Investment JSC analyst (Eurasia), assistant Bank ING CJSC graduated from the Lomonosov Moscow State University University State Moscow Lomonosov the from graduated 1984 H F Corporate and State Atomic Energy Corporation Rosatom, Deputy State Rosatom, Deputy Atomic Energy Corporation JSC Siberian Coal Energy Company, Company, Energy Coal Siberian JSC ead of Directorate Directorate of ead inance inance inance Directorate inance H olding, Saint Petersburg, Petersburg, Saint olding, H ead of the Directorate of of Directorate the of ead inance Control and Audit and Control inance H ead of Directorate, Deputy Deputy Directorate, of ead F irst Deputy of General irst Deputy F H inancial Control Control inancial ead ead of Treasury
57 ANNUAL REPORT JSC RAO UES / 2010 58 ANNUAL REPORT JSC RAO UES / 2010 present — till 2009 5years: last the for Positions present — till 2009 present 2010 — till 5years: last the for Positions Education: Year birth: of CHIGIRIN IVANIVANOVICH ownership. in shares UES RAO INTER JSC No — 2006 2004 — 2008 2006 — 2007 2006 Education: Year birth: of RYZHKOVA ELENAGENNADYEVNA 2007 No JSC INTER RAO UES shares in ownership. in shares UES RAO INTER JSC No — 2007 2005
— 2010 —
JSC INTER RAO UES, UES, RAO INTER JSC JSC INTER RAO Invest, General Director (on a part-time basis) (on a part-time Director General Invest, RAO INTER JSC Department. Audit Internal Rus JSC Statistics and Economics of Institute Moscow the from graduated 1975 F and Economics for Director Executive Company, Deputy Sales Energy Bryansk JSC Department Audit Internal the within Audit and Control of Directorate the of Expert Chief UES, RAO INTER СJSC Department Audit Internal the within Audit and Control of Directorate the of Expert Chief UES, RAO INTER OJSC Commission Revision the of member Management, Risk and Control Audit, Internal of Block the 1978 graduated from the Bryansk State University, Ph.D. in Economic Economic in Ph.D. University, State Bryansk the from graduated JSC INTER JSC RAO INTER UES, Russia (certified F (certified Russia of Accountants Professional of Institute The of member Sciences, Department of Internal Audit of Group’s Corporate Center. Corporate Group’s of Audit Internal of Department at Auditor Leading Auditor, Chief OJSC, TeleSystems, Mobile MTS, Audit Governance Corporate and Control Business for Directorate the of Expert Chief Management, Risk and Control Audit, Internal of Block the of Department Audit Internal the H ydro, H inance inance ead of the Operational Audit Directorate within the the within Directorate Audit Operational of the ead inancial Director) inancial H H ead ead of Audit Directorate the within Operational ead of the Internal Audit Department within within Department Audit Internal the of ead F F inancial inancial inancial Ernst &Young 2010 in was: Ernst LLC Auditor, the of services the for UES RAO The actual of amount wages paid by JSC INTER Company. the of Auditor &Young the as Ernst Company approved Liability Limited 25.06.2009) dated No.3 (Minutes UES RAO INTER JSC of Shareholders of Meeting General Annual The basis. contractual of the legislation the Russian the of requirements the with accordance in of activity and the economic Company financial out shall Company carry the of examination the the of Auditor The Company. the of Directors of Board the by determined be shall services Auditor’s for payable wages of amount The Russian of the to regulations according legal Company the of activities economic and financial check in the of Meeting General order Shareholders to Auditor of the is Company by approved annually 3.8 F ederation on the contractual basis. basis. contractual the on ederation AUDITOR F ederation on ederation the Total: Audit ofRASannualreportsJSCINTERRAOUESas31.12.2010 Audit ofannualIFRSfinancialstatementsINTERRAOUESGroupas31.12.2010 Audit ofInterimIFRSfinancialstatementsINTERRAOUESGroupas30.06.2010 excluded VAT Paid in2010,thousandRUR 34 021 12 512 20 509 1000 included VAT 6 124 2 252 3 692 180
59 ANNUAL REPORT JSC RAO UES / 2010 60 ANNUAL REPORT JSC RAO UES / 2010 Head ofUnit
Perspective Projects Head ofUnit agement Board, Member ofan- Strategy and Investment Unit Development Unit Structure Capital of Target Department Analysis Forecasting and of Investment Department Projects (M&A) of Investment Department Projects and Strategic of Strategy Department Ecuador lic of of theRepub- the Territory Office in Cuba lic of of theRepub- in theTerritory Office Activity of Project Department Activity Economic of Foreign Department Unit Board, Headof Management Member of Production Activities Unit Branch Sochinskaya TPP Affiliate HPP North-West Branch HPP-2 Kaliningradskaya Branch Ivanovskie PGU Companies Generating with Territorial for Cooperation Department Development of Production Department Gas Market and Operationsat for Dispatching Department Deputy Head of Unit of Unit Head Deputy Policy of Technical Department Department of Production Efficiency Operational Analysis of and Planning Chief Engineer
Department of Department Occupational of Operational Industrial Management of Safety Production Romania Moldova< Ukraine, Geographic Division gement M Division of Geographic Head Division of Geographic Head Division of Geographic Head p Head h
Geographic Division Geographic Division for Geographic ember
Central Asia South Caucasus, Turkey Division Europe ic
and Middle East D
o Amur Region in the Office Operations Economic of Foreign Department Development and Management Department of i Operations Economic of Foreign Department Development Management and Department of v f G ision B Operations Economic of Foreign Department ment and Develop- Management Department of
o oard f M eogra ana ,
- - ORGANIGRAM OF Far East Division Geographic Division of Geographic Head Board, HeadofUnit of Management Deputy Chairman Construction and Engineering Unit GE Gas TurbinePlant Project Group NPP Group Baltiyskaya Project Deputy Head of Unit for Construction Deputy Head of Unit Deputy and Reequipment and Reconstruction for Engineering and Innovations Head of Unit of Direction Department Construction Implementation and Reporting for Projects Department Development Engineering Group of Project plex Building Com- Machine ment of Power for Develop- Department Technologies and Transfer of of Innovations Department Projects F
oreign Energy Efficiency
Direction CHAIRMAN OFTHE
MANAGEMENT BOARD CHAIRMAN OFTHE MANAGEMENT BOARD of Unit Head of Unit Board, Head Management Chairman of Deputy Unit Procurement Deputy Head of Unit Trading Unit JSC INTERRAOUES(asfor31.12.2010) Department Controlling Activity Trade Department Analysis Markets Energy Activities of Trade Support and Technical for Operational Department Activities of Trade Department Department Procedures Tender Activities of Procurement and Regulation Methodology Department of Provision Resources of Fueland Department Affiliate Orel Affiliate Omsk Head ofCenter gement Board, Member ofana- Finance and Economics Center
Chief Accountant Investments Member of Management Member of Management Board, Director of Economics Director Board, Finance Director Reporting Accounting and Department for Department Implementation Contract Reporting of IFRS Department Accountant Chief Deputy Controlling Analysis and for Economic Direction Direction Pricing Management Expenditures Department for Department Investments Insurance and Modeling F for Analysis, Department of Treasury Department F of Corporate Department Deputy Director of inance inance Economics
Budget Economic Management Planning
Department Department f A D Head Head ofUnit gement Board, Member ofana- or udit Internal Audit, irector Unit of Corporate and
Controlling and I Property Relations nternal
, o
sidiaries and Affiliates Management of Sub- Direction of Structure Risk Management Management of Property Department Transactions of Corporate Department Relations of Corporate Department gement of Affiliates Corporate Mana- Department for f U agement Risk Man- Control and of Internal Department Department Audit Internal of Unit Head Deputy
nit
Department Head of Relations, for Public Director of Department Relations Head and Government Cooperation International Director for Department Head of Inspector, Technical Chief Board Management Member of Department Information Policy Department Technical Inspection Department Organizational Support Department Technologies Department Human Resources Development Department Organization Relations Markets andInvestors Department ofCapital Department Administration Management Relations and Government Cooperation for International Department Regime Safety and for Director Head ofUnit Work, for Legal Director Safety Legal Work and Regime Unit Unit Support for Regulatory Department Activities International of Project and Support for Legal Department Activities of Operational Support for Legal Department Direction Management gency Situations and Emer- Civil Defense Direction Special Protection of Resource Department Security of Economic Department
61 ANNUAL REPORT JSC RAO UES / 2010 MAIN ISSUES OF COMPANY STRATEGIC DEVELOPMENT
5.1 5. 2 5. 3 5. 4 Mission Vision (2020) Strategic objectives Main trends of devel- 4 opment lowing challenges: lowing fol the meet to efforts ongoing to due market energy world the in players key the of one be We think that by 2020 JSC INTER RAO UES shall by means presence of Company regions all in population of life of quality the improving and development economic sustainable porting The Mission of JSC INTER RAO UES is in sup in is UES RAO INTER of JSC Mission The 4.2 4.1 holders andRussia’sEnergyPolicy: portfolio of assets, realizing the goals of share- diversified a manages UES RAO INTER JSC major power-generationcompanies; world’s of partner equal an and volume, ness power suppliers by installed capacity and busi- electric major world’s the of one company, global a become shall UES RAO INTER JSC ments in the sphere of environment protection; require- the observes strictly and protection sponsible position in the field of environmental re- a occupying assets, generation efficient of portfolio balanced a has company The synergetic effects; tion and sales to end users, reaching multiple from production and supply of fuel to distribu- of the energy value chain in the energy sector: The Company operates in various segments Vision (2020) Mission - - in power efficiency and sphere. power in savings power efficiency and solutions technologies innovation menting for growing demand power,electric and imple the meeting supply, power stable ensuring of holder valueoverthelongterm. The company provides a steady growth in share- innovative developmentofRussia. the task of upgrading the electricity base and tion and efficiency, contribute meaningfully to conserva- energy in as well as engineering, and equipment energy of production the of field the in solutions and projects Company by volumeoftradetransactions; the largest global energy trading companies between the energy market, and is also one of links strengthening and unions ternational in- in systems power national of integration the in role important an plays company The among domesticandforeignmarkets; The company’s business is equally distributed -
63 ANNUAL REPORT JSC RAO UES / 2010 64 ANNUAL REPORT JSC RAO UES / 2010 strategic initiatives in the following areas: areas: following the in initiatives strategic through done be will goals these Achieving state of the company are: company the of state future the define which objectives Strategic 4.4 4.3 with this, it is planned to purchase stakes in stakes purchase to planned is it this, with Alongside participation. state with companies shares of electricity state-owned companies and of blocks consolidate to plans company The sector inRussia generation thermal the in growth Further Russian companies. leading positions in operating efficiency among achieve and energy thermal and electric of will take steps to improve the energy efficiency and safety of industrial facilities. The company will be priority measures to ensure the reliability programs on modernization and reconstruction long-term and company the for policy nical Developing and implementing a common tech - tional efficiencyofexistingassets opera- and safety reliability, the Ensuring Federation. Russian the the of interests strategic suring Creating conditions of energy security and en- Russian practicesandindustrysolutions. kets, as well as promotion to foreign markets of Expanding its presence in target overseas mar- OF DEVELOPMENT MAIN TRENDS STRATEGIC OBJECTIVES on expanding its presence in foreign markets foreign in presence its expanding on focused is company the of policy foreign The Build-up of foreign assets and their structure tion generating facilities stipulated by contracts. is implementing investment projects of construc players is also envisioned. Another major objectiveenterprises from adjacent sectors owned by others blocks of shares in electric power enterprises withand state share. Alongside with this, purchasing Russianthetheby shareselectricofof power companies owned TheCompany is planning to consolidate blocks eration intheRussianFederation Further growth of the sector of thermal gen- of generatingfacilities contracts of investment projects for construction supply capacity of implementation the is task ing to other market players. Another important belong- industries related and utilities electric energy efficiency. of energy assets with a focus on innovation and companies in the area of effective management power Russian among leadership Providing sector. energy Russian the in leadership Achieving The growthofshareholdervalue. F ederationcompaniesand - the regions on the principle of a one-stop shop formation of integrated multiproduct clusters in the retail market in Russia, including through the The Company shall obtain leading positions in The developmentofretailactivity of renewableandnuclearenergy. state-owned companies operating in the fields ity should be cooperation with Russia’s largest environment. An important aspect of this activ- technological and corporate regulatory, the in strategic task that requires appropriate changes a is generation company total in generation providing an increased percentage of non-fuel as well as markets foreign and domestic for energy nuclear and renewable the of ments seg- the in presence company increased An Company the of balance fuel the of Diversification product linemovingforward. its expand to plans also company The trade. of areas cost-effective of expansion the and Russia in produced electricity in trade foreign of growth the are direction this in tasks Key ening linksbetweenenergymarkets Development of foreign trade and strength - assets whileincreasingyieldonthem. and ensuring the economic efficiency of foreign and conservation. efficiency energy of field the in market service of the retail market for the company will be the for the consumer. One of the priority segments tion projects. The company will make efforts make will company The projects. tion construc- new of cost and time the of zation optimi- the be will complex engineering the of competitive on world markets. The internal task to operation of various types of energy facilities, providing power facilities services from design of capable engineering in cycle production complete a create to is priority important An for newtypesofenergyequipment transfer and launching production facilities technology engineering, of Development the valuechain. of parts other with synergies ensure shall and own fuel base look promising for the company the of development and segment supply and production fuel the in presence increased An 2020. in remain will company the of balance The predominance of fuel generation in the fuel Development offuelbusiness energy efficienttechnologiesinRussia. and achieving leading positions in the market of cies on energy efficiency, promoting innovation poli- public of implementation the for platform corporate a creating at aims Company The tion, energyefficiencyandinnovation Development activities in energy conserva- including for the transfer of technologies abroad. energy, thermal of field the in solutions nology engineering and the creation of standard tech- to promote the development of Russian power
65 ANNUAL REPORT JSC RAO UES / 2010 ACTIVITY
5.1 5. 2 5. 3 5. 4 5. 5 5. 6 Production Trading and Sales. Foreign Foreign assets Investment Main financial activities Trading-purchasing economic management activities of JSC results for 2010 activity by market activity INTER RAO UES in 2010 5 sectors activity JSC OGK-1 additional shares OGK-1JSC additional of JSC OGK-1 of by the framework issue within shares % 29.0263 of owner an became UES In in 2010 addition, December JSC RAO INTER OGK-1,JSC of disposition. right the for except UES received all tothe rights attached shares of JSC same renewal INTER RAO Besides, period. the with years five of period the for agement man trust under OGK-1transferred were JSC of shares to attached rights UES, RAO INTER JSC between signed agreements the with accordance In Rus JSC and JSC INTERRAOUES production assetsof Information about ENERGY PRODUCTION ANDSALESOFHEATING include: ity The of main activ Company’s types production RAO UES. RAO INTER JSC of management trust under ferred trans were Company, the in shares voting the 5.1 electric supplyactivity. domestic wholesalemarket; the in power electric of sales and purchase Kaliningrad region; the in supply for power electric of purchase sales ofimportedelectricpower; purchase of electric power for its further export; of theRussianFederationincluding: (capacity) power electric of market wholesale the in activity sales and purchase and trade production ofelectricpowerandcapacity H F ydro amounting to 61.9 % of all all 61.9 toof % amounting ydro GC UES, JSC Rus JSC UES, GC activities Production by JSC JSC by of JSC OGK-1 owned shares ordinary 912 151 628 27 2009 In H F GC UES UES GC ydro and and ydro - - - In November 2003 for of the In 2003 purpose develop November PGU Ivanovskiye engineering equipment. engineering power- domestic of use the with technology but also create, adjust and master a gas-steam plant power electrical new a build to just not was implementation project PGU Ivanovskiye during tasks important most the of One ment. develop industry power-engineering the in trends perspective most the as world the over all are considered decades recent during gies technolo of gas-steam application with plants existing the of modernization and equipment re- cycle, gas-steam combined a on based plants power electrical new of Construction enterprises. Russian by produced was itself unit gas-steam cycle combined the including equipment the ver, all based cycle. on production Moreo gas-steam energy thermal and electrical of technology industry power-engineering Russian for new a of application with built being is station The MW. 650 of capacity total the with units power cycle combined PGU-325 two of installation the with started PGU Ivanovskiye JSC at plant In project. the of implementation of pose pur the for Company established was PGU Joint-Stock Ivanovskiye Open 2004 July In GRES. Ivanovskaya the of building main new the in MW 650 of capacity total the with units of power two generating construction PGU-325 of the project to took start a of Russia decision UES RAO solutions technologic new of ment F ebruary, 2005 the construction of power power of construction the 2005 ebruary, - - - - - which has a well-developed economic and and economic well-developed a has which region Kaliningrad of the center administrative the in located is TPP-2 Kaliningradskaya The TPP-2 Kaliningradskaya 2008. 20, May on commissioned was pacity ca MW 325 of unit power-generating first The Saturn. NPO JSC by made is which of manufacturing and ment GTE-110, develop units gas-turbine of basis of on units building PGU-325 the two gas-steam of GRES Ivanovskaya stipulates Reconstruction Mezhregionenergostroi undertakes to provide provide to undertakes Mezhregionenergostroi JSC project the of framework the Within unit. power-generating second the of construction of way by TPP-2 Kaliningradskaya the of sion expan of project investment the of mentation tember, the The started imple agreement 2008. Sep in signed was UES RAO INTER JSC and Mezhregiongaz) LLC of (part gionenergostroy JSC An between Mezhre agreement investment power. electrical in need 10, and up ensures 2005 to 70% of the region’s November on commissioned was MW 450 of capacity the with TPP-2 Kaliningrad of the unit power of supply the region. The first generating due low toterritory electric Lithuanian historically the across power electric Russian of transit of for power has electric been met at the expense gradskaya TPP-2, 95% of the demand regional of unit of the the power first generating Kalinin go toarteries traffic the region. Before the start across of the Belarus, territories which the main of the the Russian region is liningrad separated from the main part the Ka location geographic Due to its specific fuel. as the emergency fuel diesel and fuel, reserve The plant uses natural gas as and the principal industry. of branches various in ment develop dynamic for opportunities have wide The and city infrastructure. the region transport F ederation by Lithuania and by ederation Lithuania ------
67 ANNUAL REPORT JSC RAO UES / 2010 68 ANNUAL REPORT JSC RAO UES / 2010 in the beginning of the 1990s. In Gov 1992 the of 1990s. the in beginning the started of plant the of construction history The authority. regulating governmental the by set price the at market regional the in sold is power thermal market, wholesale (capacity) power in sold the electric are types product two power. first The thermal of power,types products: electric and capacity the three plant Since has 2008 been delivering cycle). binary combined (with power thermal and of electric production safe of technology and environmentally efficient power plant of the new with a generation highly TPP The is Severo-Zapadnaya the first Russian far from the and Russia border between cated on the of seashore the Gulf of Russian the the of city largest of District St. Primorsky Petersburg, the second the in located is TPP Severo-Zapadnaya The TPP Severo-Zapadnaya signed. was TPP-2 Kaliningradskaya the of unit generating on agreement gas for supply the power-second 1,a of long-term gas supply. On January 2008 issue the of resolution the was unit generating power- second the of construction of tation of condition the The implemen most important region. the in supply energy of of power to and supply the consumers security reliability the increased and deficiency power to power supply the the reduced region, risk of the of enabled solving the of problem full electric MW 450 of capacity same the with unit ating power-gener second the of construction The 21, 2010.cember De on commissioned was TPP-2 gradskaya Kalinin at unit power-generating second The to the unit. obligation build the power-generating undertakes UES RAO INTER JSC and funding F ederation, lo ederation, F inland, not inland, F inland. ------The Severo-Zapadnaya TPP of St. Petersburg of TPP Petersburg St. Severo-Zapadnaya The mode. heating the in operates TPP Severo-Zapadnaya the 2006, October from starting addition, In into operation. put also was MW 450 of capacity same the with plant power the of unit generating power- second the 2006 November In 2000. December as soon as started MW 450 of ity capac the with unit power-generating first the at production pilot The laid. was plant power the of foundation the 1994 October In Units”. of Combined-Cycle of Production Organization and Petersburg in St. TPP Severo-Zapadnaya the of Construction “On Resolution the new a of Russian the the ernment skaya TPP were put into operation. Nominal Nominal operation. into put were TPP skaya Sochin the of phase 1st the of PGU-39 units two main In 2004 power generating December resort. Russian All- the of prosperity further and promote success the shall consumers city the to power supply electric reliable A Olympics. 2014 Winter the of city host the is Sochi of city The Range. Mountain Caucasus Greater the system of slope of mountain the south-western the of foot the at Sea, Black the of coast the of the federal city, resort 4 away kilometres from TPP in is located the territory The Sochinskaya TPP Sochinskaya fuel. as the emergency fuel diesel and fuel, reserve The plant uses natural gas as and the principal ones. outdated of modernization and plants power new of construction of example good Russian the the in advanced most the of one is plant power this protection environmental of level the and tors indica economic and to technical its According industry. power of Russian the the new generation of plant power first the unit, cycle com bined binary a with plant power thermal a is F ederation and serves a serves and ederation F ederation adopted adopted ederation - - - - manufacturers is used in order to reach maximum foreignequipmentanddomesticfromprimary Moderncycle. combined onoperating plant powerthermalmodern a Sochinskaya is TPP power). (thermal /h Gcal to 50 up to twice, 158 power), MW (electrical and up increased capacity installed Total operation. phase second of TPP Sochinskaya was put into the of MW 80 of capacity the with 3 No. unit generating power the 2009 25, December On Gcal. — 25 ity of the is plant 78 capacity MW,capac thermal ity the shall of the branch Severo-Zapadnaya Severo-Zapadnaya branch the of shall the ity capac installed the of structure general the In Gcal/h). — 340 MW, thermal — 450 cal unit No 2 at TPP-2 the (electri Kaliningradskaya the of up start the with connected is capacity thermal and electrical installed of the increase 283 MW, power thermal 2 was Company the of assets productive sian By the end of 2010 of capacity Rus the installed fuel. — diesel fuel emergency gas, natural is plant power the for fuel reserve and Primary atmosphere of the resort city will also fall. units the volume of hazardous emissions into the ficient process of fuel burning in combined-cycle gas by the city will be reduced. Due to a more ef operation,naturalconsumptionpeakofandto municipal heating boiler house will be transferred fuel for production of electric power. A part of the heating mode will reduce specific consumption of activityoftype using combined cycles allows carrying out another Composition of the main technological equipment MW in 2013 293 tocommissioningupstage2ndand theof crease of installed capacity up to 160 MW upon in an withplantpower expandthe todecided preparationwas2014 anditthe forOlympics activedevelopmentconditionsofSochitheof environmentalefficiencyhighand indicators. In Transferthesteamintoturbinesoperation ofof
— after construction of the third stage.
— distribution— thermalofpower. — 1 509,1 The Gcal/h. ------ Branch Ivanovskiye PGU PGU Ivanovskiye Branch TPP Severo-Zapadnaya Branch TPP-2 Kaliningradskaya Branch restrictions: Season TPP” “Sochinskaya Branch reasons: following the by caused be might 2009 in branches the by capacity installed the of Underutilization PGU TPP-2 Kaliningradskaya branch the 39,4%, is TPP TPP operation under 90 MW. 90 GTU under for operation 2,) No GTD-100, of resource the increase (to implemented been has re striction recommendation, manufacturer the By tions intheoperationofgas-turbineunits; Season restrictions due to temperature restric- peculiarities oftheflowsheet). Increased heat consumption (due to technical tions intheoperationofgas-turbineunits; Season restrictions due to temperature restric- Season restrictionsintheinstalledcapacity: tions intheoperationofgas-turbineunits; Season restrictions due to temperature restric- temperatures). low to due CU of capacity steam (reduced classifier the into included not reasons, Other characteristics ofancillaryequipment); nominal adequate (providing input capacitor the on increase temperature water Cooling tions intheoperationofgas-turbine; Season restrictions due to temperature restric-
— 6,9%. —
— 14, 2% and the branch Sochinskaya Sochinskaya branch the and 2% 14, —
— 39,4%, the branch Ivanovskiye Ivanovskiye branch the 39,4%, — - TPP may be explained by the following reasons: by following the TPP may be explained at Severo-Zapadnaya production reduced The orders. by control by the fact, that has the been equipment loaded at KTPP (17.13%), at IvPGU took place: increase at duction STPP (43.16%), at While the rest of the power plants pro electric by 23.19% PGU and at Ivanovskiye TPP Severo-Zapadnaya at reduction duction end of2010 Installed electriccapacityasofthe power in2008-2010: of electricandheat Production dynamics utilization, % Coefficient ofinstalledcapacity Operating electriccapacity,MW MW Average availableelectriccapacity, Installed thermalcapacity,Gcal/h of JSCINTERRAOUESin2010 Structure ofinstalledcapacity Name ofindicator MW, andin2009 —696.08MW. 546.7 made 2010 in load electrical Average 0.8 MW). repair unscheduled including MW, 83.4 was 3.3 MW (in 2009 capacity reduction due to repair repair unscheduled including MW, 220.8 to In 2010 the capacity was reduced due to repair — it might be caused It is caused by pro by caused is It 2009. to compared tion reduced by 7.9% produc the 2010 In assets Total forplant 1 1 1 2 — by 3.7%. 57,0% 179,7 683,4 509,1 283,0 — - - - TPP Zapadnaya Severo- The The reasons of the energy are:increase thermal heat power were distributed, i.e. 24% higher YOY. to electric power plants. 1 272 724 thou Gkal of inhabitedwhich arelocalities in close proximity the for out carried mostly is plants UES’sRAO The distribution of thermal energy at JSC INTER 578,7 847,3 60,7 Severo-Zapadnaya TPPin2010. at increase season heating and load Heat heat distributioninOctober2010; gradskaya TPP-2 and correspondingly start of Kalinin- at main heating the of Commissioning 700 900 kaya TPP Sochins- 105,4 91,6 57,4 160 50 TPP-2 gradskaya Kalinin- 409,4 453,0 74,7 680 900 PGU Ivanovskiye 100,0 277,7 79,1 21,1 325
69 ANNUAL REPORT JSC RAO UES / 2010 70 ANNUAL REPORT JSC RAO UES / 2010 Ivanovskiye PGU ELECTRIC POWERDISTRIBUTIONFROMCOLLECTORS SPECIFIC FUELEQUIVALENTCONSUMPTIONFORDISTRIBUTED HEATPOWER Ivanovskiye PGU Ivanovskiye PGU Ivanovskiye PGU Ivanovskiye PGU ELECTRIC POWERGENERATION TOTAL Sochinskaya TPP Severo-Zapadnaya TPP Kaliningradskaya TPP-2 TOTAL Sochinskaya TPP Severo-Zapadnaya TPP Kaliningradskaya TPP-2 FOR DISTRIBUTEDELECTRICPOWER SPECIFIC FUELEQUIVALENTCONSUMPTION TOTAL Sochinskaya TPP Severo-Zapadnaya TPP Kaliningradskaya TPP-2 TOTAL Sochinskaya TPP Severo-Zapadnaya TPP Kaliningradskaya TPP-2 TOTAL Sochinskaya TPP Severo-Zapadnaya TPP Kaliningradskaya TPP-2 Branch Branch Branch Branch Branch Measuring unit Measuring unit Measuring unit Measuring unit thouGkal mln.kWh thouGkal thouGkal thouGkal thouGkal mln.kWh mln.kWh mln.kWh mln.kWh gkWh gkWh gkWh gkWh gkWh kg/Gkal kg/Gkal kg/Gkal kg/Gkal kg/Gkal 2008 2008 2008 1 036.893 8 141.560 4 366.025 2 688.906 Measuring unit 934.754 102.139 433.721 652.908 2008 248.7 266.9 234.5 263.7 269.7 155.4 153.3 174.6 0 0 Gkal/h Gkal/h Gkal/h Gkal/h Gkal/h 0 0 2009 2009 2009 1 026.413 9 750.971 6 097.680 2 528.890 2009 908.736 117.677 534.440 589.962 246.2 Installed thermalcapacity 268.4 237.3 258.4 266.6 151.7 150.0 165.3 0 0 0 0 2010 2010 2010 2010 1 272.724 1 093.427 9 219.773 4 788.872 3 035.095 115.300 795.065 600.741 1 509.1 63.997 245.3 141.8 140.7 115.0 167.8 267.3 231.6 256.1 271.3 79.1 680 700 50 0 0 the expense the of expense the average heat loads increase at Gkal kg/ 9.9 by reduced distribution power heat for consumption equivalent fuel Specific cycle. generation and-heat by power average generation power- electrical of increase to due and increase load thermal of expense the at 5,7by g/kWh indicators tion to greatly contributed consump reduce specific TPP average loads. Severo-Zapadnaya electric by 0.9 YoYg/kWh at the of expense of increase and diversification of mode. the and load diversification distribution fuel consumption Dynamics ofspecific tric power reduced reduced power tric elec for sumption con fuel Specific - - - RAO UESin2009-2010 branches ofJSCINTER for Russianproduction Gas CostDynamics Fuel Supplies Natural GasandDiesel Sochinskaya TPP Weighted averagepriceofgassupply Severo-Zapadnaya TPP Weighted averagepriceofgassupply Ivanovskiye PGU Weighted averagepriceofgassupply Kaliningradskaya TPP-2 TOTAL Kaliningradskaya TPP-2 Severo-Zapadnaya TPP Ivanovskiye PGU TOTAL Ivanovskiye PGU Severo-Zapadnaya TPP Sochinskaya TPP Kaliningradskaya TPP-2 Weighted averagepriceofgassupply Sochinskaya TPP Indicator Branches JSC INTERRAOUES Branches of Name ofSupplier LLC Krasnodarregiongaz JSC Peterburgregiongaz Name ofSupplier LLC Ivanovoregiongaz Measuring unit rub./thou m rub./thou m rub./thou m rub/thou m JSC NOVATECH Tatneft-AZS-zapad LLC 3 3 3 3 2009 2479.61 2443.35 2476.03 2495.08 2010, mln.m of gassupplyin Annual volume 2010 2654.88 2937.68 3056.81 3214.49 1083.51 - - - 154.06 684.65 176.64 2 098.86 thoutn fuel supplyin2010, Annual volumeofdiesel 3 thoum rub./ Change 175.27 494.33 580.78 719.41 gas, mln.m annual volumeof Contractual 3 2 475.16 1 234.86 250.30 714.00 276.00 3 % 4.443 4.443 20.23 23.46 28.83 7.07 - - -
71 ANNUAL REPORT JSC RAO UES / 2010 72 ANNUAL REPORT JSC RAO UES / 2010 UES in2010 by JSCINTERRAO energy sourcesusage Information about Gas Ivanovskiye PGU Diesel fuel Severo-Zapadnaya TPP Sochinskaya TPP Kaliningradskaya TPP-2 Ivanovskiye PGU Total amount Severo-Zapadnaya TPP Sochinskaya TPP Kaliningradskaya TPP-2 Ivanovskiye PGU Power, purchased Severo-Zapadnaya TPP Sochinskaya TPP Kaliningradskaya TPP-2 Ivanovskiye PGU Electrical energypurchased/own Ivanovskiye PGU Residual fueloil Severo-Zapadnaya TPP Sochinskaya TPP Kaliningradskaya TPP-2 OF JSCINTERRAOUESIN2010 FUEL USEDATPRODUCTIONBRANCHES technological Type offuel Severo-Zapadnaya TPP Sochinskaya TPP Kaliningradskaya TPP-2 Ivanovskiye PGU fuels POL andothernon-technological non-technological measuring unit ThoukW*h ThoukW*h ThoukW*h ThoukW*h ThoukW*h Thou m Thou m Thou m Thou m Thou m MW MW MW MW Ton Ton Ton Ton Ton Ton Ton 3 3 3 3 3 1083556.890 2098961.967 176722.077 684614.000 154069.000 104973.912 29946.058 72931.993 31146.435 166071.41 679.248 551.148 Quantity 43.710 48.710 54.770 64.000 44.944 17.156 62.099 9.330 rubles, w/oVAT Value, thou 6123442 2876554 5989534 2092468 567922 452590 101823 10069 10752 11081 58013 21376 48933 22434 4598 1161 2594 1716 8996 8086 2995 144 183 183 655 957
(RA) regulated agreements electric powerunder Purchase andsalesof of electricpower Purchase andsales works campaign Results of2010repair in 2010 compared to 2009 is related to: Aremarkable increase of repair works expenses via: out carried were optimization cost my of In the addition, tasks equipment. of repair ment of econo safety and reliability, operational enhance in are results program works Repair branches. UES RAO INTER JSC billion rubles which is which 1.438 rubles kWh billion and 0.523 bil 3.525 kWh were billion to sold amounting 1.860 to by 0.270 rubles branch).billion the Orlovskiy amounting kWh billion 0.440 (including 2009 in than less rubles 2.101billion is which ket, 5.2 the change of accounting policies at the branch: increase of expenses at KTPP-2 connected with No 3equipment. repair-recovery works at power-generating unit increase of expenses at STPP for unscheduled and serviceorganizations. system with involvement of manufacturing plants maintenance service the of implementation and result; condition to according repair equipment to switchover from preventive maintenance system ACTIVITY ACCORDINGTOMARKETSECTORS TRADING ANDSALES.TRADING-PURCHASING 7 capital, 5 medium medium 5 capital, 7 the wholesale mar wholesale the in purchased 2010 in were rubles billion 2.631 to amounting kWh billion 4.691 at held were pairs re ordinary 25 and - - - - - liberalization. R by caused is RA under power trical volume of Reduced and purchase of sales elec office). Executive the to 0.185kWh amounting billion by rubles billion 0.868 (including 2009 in than less rubles lion kWh and 7.720 kWh more rubles thanbillion in 2009 5.118is which 18.221billionrubles of amount tomorrow market(TM) electric powerinthe Purchase andsalesof 2011. in fulfillment Program Repair the for rubles We thousand 955 to plan 896 spend fulfillment. Program Repair the for rubles In 2011 it is to planned spend 896 955 thousand “Repair services”. item the to related are they 2010 beginning “Works and services of production character”, expense of item to related were 12 and 11 No maintenance of gas turbines of GTE-160 at st. technical long-term for expenses the earlier purchased for the the for purchased been have kWh bil lion the 20.984 on WEM 2010 In WEM WEM F - - 2010 2009 2010 2009 2010 2009 2008 2010 2009 2008 2010 2009 2008 2010 2009 2008 billions ofkWh power inRAsector Structure ofpurchase/saleselectrical (fact) DYNAMICS OFREPAIREXPENSES 0 Sales Purchase 0 1 2 100 3 4 5 200 6 7 Executiveoffice(FIA) Executive office(FIA) 300 8 Production branches 9 Orlovskiy branch 400 SZTPP IvPGU K TPP S TPP
73 ANNUAL REPORT JSC RAO UES / 2010 74 ANNUAL REPORT JSC RAO UES / 2010 6 822 billion rubles more than in 2009 (includ 2009 in than more rubles billion 822 6 and kWh billion 8915114 is what rubles billion 17 710 billion kWh were sold for the amount of 15 in TM is caused by R Increase in the volume of electrical power purchase increase of export contracts scopes of supply. rubles purchasedrubles by branch).Orlovskiy 0.340 billion kWh for the amount of 0.295 billion and rubles billion 0.548 of amount the for kWh (including by production branches 0.613 billion billions of k ELECTRICAL PO VOLUME OF PURCHASE/SALES OF CAL PO VOLUME OF PURCHASE/SALES OF ELECTRI- 2010 2009 2010 2009 2010 2009 2010 2009 0 Sales Purchase Sales Purchase 0 W 1 5 ER IN TM SECTOR, W 2 h 10 3 W 15 4 F ER IN BM SECTOR, WEM liberalization and by 5 20 Executive office(FIA) Executive office(FIA) Executive office(FIA) Executive office(FIA) Production branches Production branches Production branches Production branches billions of k Orlovskiy branch Orlovskiy branch W h -
billion kWh and 0.209 billion rubles less than in less rubles billion kWh and 0.209 billion 0.507 is which rubles billion 2.219 of amount rubles by Orlovskiy branch). by Orlovskiy rubles kWh for billion 0.006 the of amount billion 0,005 and rubles 0.074 of billion amount the for kWh 0.127by branches (including production billion 2009 in than less rubles billion 0.242 and kWh billion 0.785 is which rubles billion 1.698 of The were sales 3.776 kWh for billion the amount ply schedules. deviations delivery from typical resulted from reduction of electrical power sup performance on behalf of the contractual parties the BM is caused by ofenhancement regulator Reduce of electrical power purchase volume on of by 0.049 branch).purchased rubles Orlovskiy and kWh for branches 0.044 billion the amount of 0.125 by purchased rubles billion production 0.128(including 2009 kWh for billion the amount balancing market(BM) electric powerinthe Purchase andsalesof ments in sectors NRBA and purchase due to non-regulatedbilateral agree power electrical by caused is volume sales of increase the general, branch).In Orlovskiy by rubles billion 0.5 of amount the for kWh billion for the amount of 3 411 and 0.001 rubles billion kWh billion 855 3 branches production by ing of of 0.191 which is kWh rubles billion billion 0.229 The were sales 0.218 kWh for billion the amount feasibility. economic and behavior market the by caused is volume purchase the in Increase of 0.093 billion rubles). chasedby production branches for the amount (including0.126 2009 inthanpur kWhbillion (NRBA andFEPA) bilateral agreements electric powerunderfree Purchase andsalesof 4.518morerublesbillion 3.868 and kWhbillion purchased for the the for been purchased have kWh the billion 4.108 on WEM 2010 In billion rubles what is whatrublesbillion 5.253amountof the purchasedbeenfor 6.417 billion kWh have 2010WEMInthe on F EPA. - - - 2010 2009 2010 2009 2010 2009 2010 2009 2010 2009 SECTOR, billionsofkWh ELECTRICAL POWERINNRB/FEPA VOLUME OFPURCHASE/SALES capacity inHEPS(RD)sector,MW Volume ofpurchase/sales billions ofkWh POWER INKALININGRADREGION, VOLUME OFSALESELECTRICAL 2010 2009 capacity inHEPS(DdM)sector,MW Volume ofpurchase/sales 0 0 0 Sales Purchase Sales Purchase 0 Purchase 0,5 2 1 1 4 1 2 2 1,5 6 3 3 8 2 10 2,5 4 4 12 3 5 14 3,5 6 4 thou 4,5 Executive office(FIA) Executive office(FIA) Executive office(FIA) Executive office(FIA) Executive office(FIA) Production branches Production branches Production branches Production branches Executive office(FIA) thou MW Orlovskiy branch Orlovskiy branch than in 2009. in than which is 5 less MW 432 and 1.407rubles billion rubles) billion 0.225 of amount the for office 1 (including 876rubles billion MW by Executive 1.696 of amount the for MW 949 7 sold Were 2010. in than less rubles billion branch) Orlovskiy which is 6.923 MW and 0.396 by rubles billion 0.100 of amount the for MW (RA) regulated agreements of capacityunder Purchase andsales PURCHASE ANDSALESOFCAPACITY office for the amount of 0.485 rubles). (including2009 0.915 billion byExecutivekWh of WEM united intopricezones constituent entitiesnot agreements withRF side purchase/sales power underfour- Sales ofelectrical billion kWh billion for the of amount 0.167 rubles). billion branches by sales cluding production (in 2009 in than less rubles 0.105billion and 2010 2009 2010 2009 CAPACITY INCSPSECTOR,MW VOLUME OFPURCHASE/SALES 0 Sales Purchase 5 10 15 20 25 WEM (including 1240WEM (including chased in 2010 in the were lion rubles pur bil 0,804 of amount the for MW 972 7 in thanmorerubles kWh and 0.549 billion which0.191is billion of2.591 billion rubles amounttheforsold 3.877 billion kWh were region non-price zone In 2010 in Kaliningrad Executive office(FIA) Executive office(FIA) Production branches thou Orlovskiy branch — 0.188 - - - 2.210 billion rubles less than in 2009. 0.011of rubles)billion15which is and 62 MW by production branches for the amount power take-off(CPT) results ofcompetitive Contracts basedon Sale andPurchase Commission andPower and salecontracts Capacity purchase H of NPP redistribution and RA with simultaneous (reduction of WEM under volumes liberalization by caused is volume purchase the in Increase 2009. in than more rubles billion branch) whichOrlovskiy MW is and 0.6742042 by purchased rubles billion 0.072 of amount HPP (DdM) equipment ofNPPand produced atgenerating agreements ofcapacity under purchaseandsale Purchase ofcapacity liberalization. by WEM caused is volumes sales and purchase the in Decrease PP purchase volumes in DdM sector). DdM in volumes PP purchase 2010 2009 in FEPA/СДЭМsector,MW Volume ofpurchasecapacity 0 Purchase 5 10 15 20 25 ing 212 MW for the the for MW 212 ing (includ rubles lion 1.547bil of amount the for purchased been have MW 665 R 4 on market wholesale 2010 In of 0.130of rublesbillion branch for the amount Orlovskiybychased 718cludingpur MW 1.807 billion of rubles (in amount the for have been purchased 201010In Executive office(FIA) thou
120
042 MW 042 MW and MW F - - - - WEM liberalization. than in 2009. The increase of sales is caused by R 243andwhich2.045MW8isbillion rublesmore 3 lionrubles (including salesbyExecutive office saleswere 13 451 MWforthe amount of3.307 increaseofpurchase in The reduction of the purchase volume is caused by (FEPA) bilateral agreements under non-regulated Purchase ofcapacity office for the amount of 0.483 rubles). 0.483 of amount the for office 1 than in (including 762 2009 MW by Executive of WEM united intopricezones constituent entities,not in theterritoryofRF sales agreements four-side purchase/ Sales ofcapacityunder and economic feasibility. economic and chase volume is bycaused the market behavior rubles more than in 2009. Increase of the pur the of Increase 2009. in than more rubles billion 1.933 and MW 149 16 which is branch) Orlovskiy by purchased rubles 0.011 of billion amount the for MW 99 (including rubles billion
408 2010 2009 KALININGRAD REGION,MW VOLUME OFSALESCAPACITYIN
0 MW forMWtheamount of0.565billion rubles) Sales 1 2 3 4
5 6 thou F EPA/СДЭМsector. The billion rubles less less rubles billion 0.287 and MW 685 whichis rubles lion 1.816bil of amount the for realized was price area 7 162 MW non- region grad Kalinin in 2010 In 2.727 of amount the for purchased been have MW 440 23 market wholesale n 00 n R on 2010 In Executive office(FIA) Production branches
bil F F -
- - -
75 ANNUAL REPORT JSC RAO UES / 2010 76 ANNUAL REPORT JSC RAO UES / 2010 were the electric systems of Kazakhstan and and Kazakhstan of systems electric the were 2009, and 2008 in as well as purchase, power electric imported of source main the 2010 In IMPORT OFELECTRICALPOWER YOY. by 0.130 kWh increase billion i.e. kWh, billion 0.983 was power electric of In 2010of RAO UES. export volume the INTER ried out by JSC China YOY. more rubles billion 6.761 i.e. rubles, was 29.017 cost billion supplies The 17.647YOY. — kWh 1.875 increase kWh billion in 2010 was supplies of export volume total The Latvia. and Azerbaijan, Belarus, Ukraine, Ossetia, South Mongolia, (7.8%), Georgia, to Kazakhstan exported also was power Electric line]. transmission power k 750 Belarus NPP- Smolenskaya the of year whole the during repairing and 2010 in service from (Lithuania) NPP linskaya of Igna [removal factors main two with nected con is volume supplies the of Redistribution were the directions main 2009 and 2008 In supplies. export all of 88.6% take countries These Lithuania. and in 2010 were of activity areas main The EXPORT OFELECTRICPOWER 5.3 V EK which EK is of which an JSC affiliate F ACTIVITY FOREIGN ECONOMIC inland and Belarus. Belarus. and inland ply to China is car is China to ply sup power Electric V (Belarus) (Belarus) F inland inland - - - - significantly from the volume of import in 2008 in 2008 of import volume the from significantly differ not does which kWh, billion 2.923 was In 2010 the total volume of power import electric Lithuania. and Mongolia, Ukraine, Azerbaijan, from imported also was power tric Elec import. total the of 89.5% i.e. Georgia, STRUCTURE OFIMPORTSUPPLIESIN2010,% STRUCTURE OFEXPORTSUPPLIESIN2010,% Kazakhstan Finland Belarus 2010 2009 2008 billions ofkWh DYNAMICS OFEXPORTSUPPLIES, 10 0.2 / 59.7 11 51.3 Azerbaijan / 12 Lithuania /Georgia 13 14 0.1 / 28.9 38.2 15 Latvia /Azerbaijan 16 / Kazakhstan 0.0 17 18 6.9 7.8 /Ukraine 17.65 15.77 18.22 / Georgia - 2.8 100% 100% /Mongolia 1.2 respectively. in 2009 rubles 1.944 billion and in 2008 rubles cost was The purchase 1.977 and 2009. billion 2010 2009 2008 billions ofkWh DYNAMICS OFIMPORTSUPPLIES, / Mongolia 1 0.7 /Lithuania 1.2 2 / South Ossetia South 0.1 3 4 0.7 / Ukraine 2.92 3.02 3.05 0.2 / JSC SangtudinskayaGES-1 International EnergyCorporation(Sevan-Razdan hydroelectricsystem,Armenia) Khrami GES-2(Georgia) Khrami GES-1(Georgia) Mtkvari TPP(Georgia) Moldavian GRES(Moldavia) Ekibastuz GRES-2(Kazakhstan) Armenian NPP(Armenia) FOREIGH ASSETSINTHEGENERATINGSEGMENT the following areas: areas: following the in export/import energy electrical the out ries car UES RAO INTER JSC segment trading In develop its activities in 27 countries of the world. possibleit forJSCINTER RAOUES to effectively Richexperience inforeign trade operations makes several of energy market: segments international in activities company the considers 2015 till The JSC RAO INTER strategy UES development 5.4 China (deliveryonagencyagreements Azerbaijan, Belarus) Georgia, Kazakhstan, (Ukraine, countries CIS Baltic countries(Lithuania,Latvia) direction pool) (Finland/Nord Scandinavia Engineering Sales activities Electricity supplynetworkfacilities Generating Trading MANAGEMENT ACTIVITY FOREIGN ASSETS — the main the — - In 2010 the total volume of export-import op export-import of volume total the 2010 In thousand km). thousand Georgia of networks power as well as km), thousand 30 about of length (the Armenia of networks electrical the owns UES RAO INTER facilities In the network supply of segment the electricity overseas plants amounted to 12.047 billion kWh. 2010, electricity generation by INTER RAO UES Kazakhstan, Moldova, Georgia and Armenia. In includes facilities generation oftheGeography of 6 402.2 the foreign assets of the total installed capacity In generating segment INTER RAO UES controls and Asia. East Central Middle America, Latin as such in regions activities trade of development the at aimed are UES RAO INTER of fur efforts The ther kWh. billion 21 exceeded erations — JSC Telasi (a length of about 3.6 3.6 about of length (a Telasi JSC — 114.4 MW 112.8 MW 2 520MW 1 000MW 670 MW 561 MW 600 MW 815 MW - - A promising direction of the INTER RAO UES UES RAO INTER the of direction promising A Armenia. and Georgia in customers 1.4million about to services provide companies Group UES RAO In powers the sales segment the INTER electrical operations. trade foreign increased and security elevated for alliances supranational in systems power of national integration the as well as networks, of operation aimed electrical at efficient ensuring is facilities ment network of supply the electricity The strategy of JSC INTER RAO UES in manage value, are taken into account. into taken are value, provide the of growth the shareholder company the of assets balancing RAO INTER UES, which the hedge of the world’s market risks, as well as the with assets, for existing prospects synergies extracting niche, attractive new into to expand market of such each factors country as the ability in In the the study of opportunities development region. European the of kets mar established already the and East, Middle the and America Latin Africa, Asia, of markets dynamic the at both directed be will interests Company’s the of vector the years, coming In implemented. actively are and WorleyParsons industry the of segment this in leaders the RAO INTER UES. projects with The international the Group within of control loop of Companies, with of in number conjunction initiatives F market. energy international the in transfer) technology the (including ices is development to serv provide the engineering or this purpose the company is carrying out or a the is this company purpose carrying F enice enice (ED F ) companies ) companies Q uartz uartz
— — - - -
77 ANNUAL REPORT JSC RAO UES / 2010 78 ANNUAL REPORT JSC RAO UES / 2010 * complexes of seven hydroelectric power plants tric power produced in Armenia. CJSC IPC owns IPC) annually produces about 10-12% of all elec (CJSC Corporation Power International CJSC for the next five years. agreement for shares of CJSC Armianskaya AES INTER RAO UES signed a new trust management and the Republic of Armenia) Armenia and JSC Cooperation between the the Russian the Intergovernmental Commission for Economic mutual interests and in pursuance of decisions of parties the account into (taking 2008 cember De In AES. Armianskaya CJSC of shares with a five-year trust management agreement secured Armenia and CJSC INTER RAO UES concluded of the Republic kWh. In 2003 million was2.290 In2010 thevolumeof power electric produced Armenia. of Government the of decisions with is in a long-term closedown mode in accordance is operating. The second power-generating unit generating unit with installed capacity 407.5 MW units of the power station is 815 MW. One power- The ofinstalled capacity two power-generating tric power produced in the Republic of Armenia. elec- all of 46-48% about produces annually Armenia RAO UES Group. UES RAO to and in applicable standards regulations INTER local the of requirements the meeting as well as countries of foreign systems power electric national the in role and place their and assets of of corresponding account with the specifics which these are assets located, and is arranged of territory the in states the of legislation tional na the of requirements the with accordance F PRODUCTION ASSETS BREIF CHARACTERISTICOFFOREIGN oreign assets management is performed in in performed is management assets oreign Asofthedate theapprovalofAnnualReport bytheBoardofDirectorsJSC INTERRAOUESGroupsdonot ownCJSCIPCshares. la pwr plant) power clear nu (Armenian NPP Armianskaya CJSC F ederation ederation - - - - Capital Capital of IPC.*CJSC Group owns 90% of shares forming the Charter 31.12.2010UES of RAO As INTER kWh. JSC crease million electricity production to 800-900 which would make it possible in the future to in- done,Sevan wasLake on dam a increasingof work 2010the summer In 10years. last the for the planned total and annual energy generated 62% by exceeds which kWh million 727 was power electric generated of volume the 2010 ofresults the are accordancewith operable.In MW. All hydroelectric power plants of the cascade of hydroelectric power plants of CJSC IPC is 561 of Sevan to Yerevan. The total installed capacity Lake the from River Razdan the along located Georgia of Erevan power supplies, the capital of Armenia. 110/35/6k carried out the reconstruction of 16 substations successfully has Armenia of Networks Electric CJSC 2010 In Armenia. of Networks Electric Group consolidated all 100% of shares of CJSC In kilowatt-hours. INTER MarchRAO UES 2009 was 5.372of Armenia Networks Electric million 2010 the volume of electric power sold by CJSC of results the with accordance In substations. transformer and lines, power cable and head 0.4-110voltage k with (owns) networks possesses It country. the of territory whole the throughout located 13branches has company the country (over 940 thousand customers). The and sale of 100% of electric power consumed in and sales of electric power. It ensures distribution tional company in Armenia dealing in distribution CJSC Electric Networks of Armenia is the only na electric power consumed by the capital region. region. by capital the consumed power electric of 80% about selling suburbs its and Tbilisi, gia, of Geor to capital the services provides Telasi power. JSC electric selling and distributing gia V which allowed increasing reliability allowedincreasingreliability which companies in Geor in companies network largest the of one is Telasi JSC V , over , - - - - JSC Telasi has 5 branches serving over 454 454 over serving branches 5 has Telasi JSC power plant in Georgia and annually produces produces annually and in Georgia plant power thermal modern is most the Energy LLC Mtkvari Georgia. by owned are shares of 25% of about Telasi, JSC Capital of Charter the 75% owns shares Group UES RAO INTER JSC kWh. million 1.645 was power electric sold of of 2010 volume the results the with accordance Russian the from coming power electric sells Telasi JSC In particular, stations. sub transformer and lines power cable and k 0.4-110 voltage with networks owns company The subscribers. thousand reconstruction was completed. Shares forming forming Shares was completed. reconstruction of Khrami the program the thus and completed, was №2 generator water-powered of the 2010 reconstruction the In kWh. million 874 was power electric ated gener of volume the 2010 of results the with In Telasi. accordance JSC with concluded ment agree an under sold is power Electric year. calendar whole the during operating are and are functional plants power hydroelectric Both MW. 227.2 is plants power hydroelectric two the of capacity installed total The Georgia. in produced power electric all of 5% about for account they Annually River. Khrami the on plants power of hydroelectric cascade the form Khrami JSC Energy. Mtkvari LLC of Capital Charter the of 100% owns Group UES RAO INTER JSC kWh. million 579 was power electric generated of volume of 2010 the results the with In accordance gia. of Geor market of power the operator mercial com the with and Telasi JSC with concluded agreements under sold is station power the by supplied power Electric MW. 600 capacity installed total the with gas on operating units power-generating two owns company The lic. 11% in repub the about power of electric the all H PP-1 and JSC Khramhesi PP-1 Khramhesi JSC and H PP-2 main equipment equipment PP-2 main F V ederation. In ederation. , overhead overhead , H PP-2 PP-2 ------JSC INTERRAO UESGroupCompanyGardabani B.V. ** GRES. Moldavskaya CJSC of Capital Charter the forming shares of 100% owns Group UES RAO INTER 4,619JSC kWh. was power electric generated of volume the 2010 of results the with accordance In mania. Ro and Moldavia in consumers to supplied is oil. power byElectric generated the power plant of types fuel: natural gas, coal thermal and fuel is able to power using various electric produce 2,520 MW.capacity installed The power station 12 sessing units with the total power-generating Moldavia Kazakhstan H Khramhesi JSC to manage right the has Group UES RAO 31.12.2010.INTER JSC Georgia by are owned companies of the Capitals Charter up to 2024**. to up exercised by JSC Samruk Energo. Energo. Samruk are JSC by shares exercised these of rights the Kazakhstan, of Republic the by owned are shares of 50% other The GRES-2. Ekibastuzskaya Stantsiya JSC of Capital Charter the forming shares of 50% owns Group UES RAO INTER JSC million kWh. 5438 was generated power of volume electric the 2010 of results the with ance Russian the the to particularly, sold, be can it however khstan; Kaza in sold is plant power the by supplied power Electric plants. power the of proximity close in mine Bogatyr thermal open-cast the from is coal fuel Primary operable. are units power-generating Both MW. 1,000 capacity installed total the with units power-generating two possesses plant power of The Kazakhstan. Republic the in produced power electric all of 8% about produces annually and plant PP -1 and JSC Khrami Khrami -1PP JSC and Asofthedate theapprovalofAnnualReport bytheBoardofDirectors100% ofstockJSCKhramiGEC-1 andKhramiGEC-2wasconsolidated bythe F ederation. In accord In ederation. H oe pat pos plant power thermal a is GRES Moldavskaya CJSC power a 2 thermal is GRES- bastuzskaya Eki Stantsiya JSC PP -2 for the period period the for -2 PP - - - - - Tajikistan to the project level (mark) water. of level project to the reservoir the filling of possibility the provided which completed, were dam station’s the on operator of the In station. 2010, the basic works is the and the Company Capital, in the Charter JSC RAO INTER UES owns 2.18% of the shares kWh. to million 1,633 2010of amounted volume of power by generated electric the end The 15.97%. is share Tajikistan’s of Republic the and 84.03% is GES-1 Sangtudin-skaya JSC of Capital Charter the in companies sian As 31, of December 2010 the share of the Rus Tajikistan. of Republic the in station power the by generated capacity installed of terms Nurekskaya (after second the is plant of a capacity 670total installed MW. The power with hydro-generators four includes Sangtuda V the on plant of and operation ongoing struction hydropower con the completing of purpose the with 2005 venture — was established on on established was — akhsh river in Tajikistan. in river akhsh sian GES-1 JSC Sangtudinskaya — Tajik joint joint Tajik — F ebruary 16, ebruary a Rus a — H PP) in in PP) - - -
79 ANNUAL REPORT JSC RAO UES / 2010 80 ANNUAL REPORT JSC RAO UES / 2010 The project of construction of the with 2nd unit of project The construction 7,December 2001). the participation of the strategic investor JSC JSC investor strategic the of participation the with out carried is MW 450 of capacity the Russian the of Government the of (Resolution 2014 to up Period the for gram of of Development Region the Kaliningrad the of implementation of framework the within out carried being is plant of The unit construction No.2 2005. of the power was The put first unit into PGU-450 in operation commissioning is scheduled for 2012. installed capacity of plant will make 650 MW. The capacity of the commissioning unit is 325 51% is used in the construction project.ofthePGU-325 unitsThe with the efficiency installedofupto factured by JSC NPO SATURN and being H the basis 2004. in out carried was commissioning unit first The RUSSIA. of UES RAO JSC by started program the GRES Ivanovskaya reconstruction The unit № is of 2 the continuation construction were: volume, total tering to of 88% mas the amounted which Company, the of projects investment main the 2010 In production. of effects environmental the reducing and efficiency power its increasing equipment, existing the of functionality and reliability the ensuring technologies, ficient ef highly up-to-date of use the with facilities new of commissioning the on focused is UES RAO INTER JSC of program investment The 5.5 ome-produced gas-turbine plant GTE-110 manu liningradskaya TPP-2. Ka- the at PGU-450 No.2 unit of Construction plant withtheunitNo.2PGU-325installation. Reconstruction of the Ivanovskaya GRES power INTER RAOUESIN2010 INVESTMENT ACTIITYOFJSC F ederal Target Pro Target ederal F ederation dated dated ederation
MW. The - - - - Ivanovskiye PGU ment ment program of the JSC RAO INTER UES was In 2010 the total value of invest the assimilation tion after the made MW.900 unit second start-up 2010. of cember capacity the The sta installed De in commissioned № 2 was Unit Gazprom. INVESTMENT ASSIMILATION, % funding: program investment the of Sources rubles. 11342010 million made in investment other and reconstruction and re-equipment technical the for Expenditures including: program, investment of the fulfillment total of the 88% or in 2010rubles, units to 8 amounted million 480 new the of construction the for Expenditures V rubles, 9 614 million JSC INTERRAOUES Severo‑Zapadnaya TPP Kaliningradskaya TPP Sev.-Zapad. TPP Branch depreciation assignments — 2 559 million rubles; Other new constructions the gas pipeline) — 1 219 million rubles. Ivanovskiye PGU, unit No.2 PGU-325 (including7 of KaliningradskayaTPP-2, unit No.2 (PGU-450)
039 million rubles; 76.0 /KaliningradskayaTPP AT exclusive.
— 222 million rubles. 1 482.2 1 198.7 Assimilation, millionofrubles 90.0 79.4 plan 10.0 /IvanovskiyePGU 963.1
733.5 100.4 fact * — 75.6 - - - 100% (inretoolingandmodernization) INVESTMENT ACTIVITY INTER RAO UES RaM program in 2010 in are: program RaM UES RAO INTER JSC the of activities (significant) largest The zation (RaM) in 2010 (without taking into account performing of program of retooling and moderni investment program of JSC INTER RAO UES the implementationthe frameworkofof the Within The RaM program fulfillment attracted creditassets —58millionrubles; foreign investorassets —5814millionrubles; 1 182million rubles. reorganization its at transferred Russia of other own sources including funds of RAO UES process of the hydraulic part of the PT-10 PT-10 the of part hydraulic the of process reconstruction the in system control the of annex electrical the of complex hardware and software the of Modernization one. ic-hydraulic electron the with PT-10 CAP of «Replacement sand rubles; 125 — SZTPP works», adjustment fuel liquid the out carrying and reconditioning «Gas turbines liquid fuel gas systems equipment sand kVh», SZTPP — 358 284 thousand rubles; thou- 66 of time operating the achieving after modernization 12 and GT-11 turbines «Gas Omsk branches), see the graph. RaM on the executive bodies of the Orlovsk and 111.6% 95.3% 8.0 65% 61% % /SochinskayaTPP 715.2 Financing, millionofrubles 132.6 106.7 96.9 plan 6.0 1360.9 105.1 77.8 88.2 fact 500 101.6% 58.6% 79% thou- 91% % — - - billion rubles in 2009). in rubles billion 25.4 as against rubles, to billion 34.6 amounted market domestic the in power (buying market Russian the on prices electricity in increase an consequently, and, prices gas increasing by justified is which rubles, billion 49.6 to up (26,8%), rubles by 10.5 billion growth to revenue in proportion 2010 for increased of sales Cost to 47% respectively. 50% 2010 and amounted December 31 at as and unchanged, virtually was year, last period same the to Russia, compared in sales and export for electricity of sales from proceeds of share the of ratio The Russia. in volume trade the of increase and markets international and sian in revenue is due to on prices Rus both higher (31.1%)rubles more YoY. increase The resulting billion 14.6 or rubles, 61.4billion to amounted 2010 for UES RAO INTER JSC of Revenue results The analysisofthefinancial 5.6 13 485 thousandrubles. the boiler monitor and control system», IPGU of modernization and 12-529-03 PB systems” consumption and distribution gas the of rules burners of E-50 type in accordance with “Safety gas 6 № station boiler the of Modernization boiler», KTPP‑2 —14454thousandrubles; superheater of the KU-12 waste heat recovery steam pressure high the of «Reconstruction rubles; — 684 20 SZTPP system.», control (AccordingtotheRussianstandardsofaccounting) OF THEYEAR2010 OF THECOMPANY’SACTIVITYASEND FUNDAMENTAL INANCIALRESULTS
thousand thousand — - UES UES lated by mainly the for payment growth the JSC in rubles 2010 5.6 against is rubles billion stipu billion 8.7 to up rubles 3.1by billion expenses The of increase and administrative commercial 2009). in (7.7 rubles billion YoY (34%)rubles 4.1by billion increased it i.e. 11.8 in rubles, resulted billion value Totalprofit Revenue FOR 2009-2010,mlnrubles AGGREGATE PROFITANDLOSSSTATEMENTS Net profit Pre-tax profit Sales profit Cross profit Production cost Name ofindicator (VATEXCLUSIVE),/g/kWh RAM PROGRAMASSIMILATION plan plan plan plan fact fact fact fact F 0 GC system services due to increase in in increase to due services system GC 200 400 600 800 1000 1200 SZ.TPP Iv.PGU K.TPP S.TPP 1400 - Balance of other income and expenses by the expenses and income of other Balance OGK-1. JSC of body executive single a of functions the performing of executive offices the as Company a result of the of number the in increase as well as tariff, value at a rate of (-3.25) billion rubles. Positive Positive rubles. billion (-3.25) rate of a at value negative a reached balance the 2009 in while rubles, 0.17billion to amounted 2010 of end (VATEXCLUSIVE),/g/kWh RAM PROGRAMFINANCING plan plan plan plan fact fact fact fact 0 200 400 for 2010 11 49 61 2 3 3 600 704 801 593 393 319 147 800 1000 1200 SZ.TPP Iv.PGU K.TPP S.TPP 1400 for 2009 (1 (1 39 46 7 2 248) 103) 728 103 831 145
81 ANNUAL REPORT JSC RAO UES / 2010 82 ANNUAL REPORT JSC RAO UES / 2010 (1 PowerGeneration, Nuclear Power PlantAkkuyu the Turkish design company Joint stock companyrubles), thecontribution tothecharter capital of (1.9 thorizedcapital ofJSCINTER RAO UESCapital accountincreased duetoinvestment totheau Alsoin 2010 the Long-term financial investments investments account). additionalissueofJSCOGK-1 (the Long-term theparticipation JSCofINTERRAOtheUESin OGK-1)construction investment project through directedtofinancing theUrengoy GRES(JSK The proceeds from the additional share issue are account), commissioned in December 2010]. KaliningradTPP-2 (Uncompleted Construction [includingtheconstruction secondofa unitof Company’sinvestment program implementation tothe amount of 3.6 billion rubles, aswell asthe execution of the pre-emptive rights of shareholdersState Concern in the amount of 21.3 billion therubles, additional issue in favor of company’s assets growth is explained by placing cember 2010 amounted to 135.3 billion rubles.creased The by 31.8 billion rubles (30.7%)Total assetsand ofJSC INTER RAO UESon2010in in 31 De- AND LIABILITIES ANALYSIS OFCHANGESINASSETS rubles. 1.2 of billion loss a net RAO UES JSC received INTER in 2009, period index profit net and rubles billion 3.3 to amounted tax before profit the year the of result a As rates. exchange of volatility the reducing by revaluation liabilities and assets company’s the of cost reduction and others) and Oy Nordic RAO GRES-2, Station bastuz Eki (JSC organizations other in involvement company’s the from income of receipt the to due is expenses and income other of balance St. Petersburg Energy Sales Company (1.4 billion
billion rubles).
billion rubles), the acquisition of shares in JSC — 2.7 the while during rubles, same billion V nesheconombank - - - 2008 AGGREGATE BALANCE,thousandsrubles I. Non-circulatingassets JSC INTERRAOUESASSETSANDLIABILITIESSTRUCTURE IN2010,% TOTAL SHAREHOLDERS’FUNDS V. Short-termliabilities IV. Long-termliabilities III. Shareholders’funds TOTAL ASSETS II. Circulatingassets short-term investments / Otherlongtermliabilities Own capital Own Fixed assets Name DYNAMICS OFASSETSIN2008 —2010 Current assets Long-term financialinvestments Fixed assets 68.0 33.0 / Long-term loans and credits and loans Long-term / / Long-term financial investments 25.0 0.0 /Others 8.0 15.0 86792233 86 792233 13 213623 63 897311 30 127870 56 664363 9 681299 17.0 31.12.2008 / Short-term loans and credits and loans Short-term / Unfinished construction 2009 100% 100% 103 473796 103 473796 31 771908 64 791976 27 303595 76 170201 Other long-termliabilities Unfinished construction 6 909912 31.12.2009 8.0 0.0 / Short-term receivables / Payables / 135 276836 111 694441 35 276836 22 470362 20 429747 92 376727 23 582395 31.12.2010 5.0 / Other liabilities Other / on 31.12.2010 9.0 100.00% 100.00% / Cash and in assets 16.61% 15.10% 68.29% 17.43% 82.57% Share 12.0 2010
Reducing the volatility of exchange rates and and rates exchange of volatility the Reducing crisis. financial the of phase acute the from economies leading world’s the of emergence as as well sales, and profit of gross growth the in reflected markets, electricity in conditions factors external to part in in is period ing the due the reporting profitability pared Increas to substantially. increased 2009 in The of 2010main indicators profitability com PROFITABILITY INDICATORS are contracts under leasing taken into account. obligations sheet off-balance the assessment the and debt during assets as fied non-current are receivables reclassi In long-term particular, sets in with urgency was accordance performed. balance are indexes on based transformed financial All CONDITION ANALYSIS OFTHECOMPANY’SFINANCIAL lion rubles to the urgency of not less than 3 years. sufficient level to provide liquidity The volume of open credit lines is maintained at a ing activities. at the expens of the funds received from operat scheduled maturity or early redemption of loans of the Company is justified by the necessity of a the beginning of 2010. Reducing the loan portfolio as on 31 December 2010 against 87% and 13% at changed in favor of long-term debt: 97% and 3% while the ratio of long- and short-term loans has decreased by 19% from 25.2 to 20.4 billion rubles,2010 inUES RAOINTER JSC of loaddebt The issue of shares), as well as funds from operations. funds of shareholders of the Company (additional ment financing were borrowings, in 2010 was the contrast to 2009 when the main source of invest- The main source of financing investment activity, in AND LIABILITIESSTRUCTUREIN2010 JSC INTERRAOUESASSETS — the standard reclassification of as reclassification standard — the — favorable market market favorable —
— at least 24 bil ------Home equityprofitability(ROE) Profitability ofassets(ROА) EBITDA profitability EBIT profitability Cash atthestartofyear KEY PROFITABILITYINDICATORS ** EBIT—Profitbeforetaxandinterestpayable * EBITDA—Profitbeforetaxes,interestexpense,depreciationandamortization Net cashfromfinancialactivities,including Net cashfrominvestmentactivities Net cashfromoperatingactivities AGGREGATE CASHFLOWSTATEMENT,thousandrubles Net income(loss)forreportingperiod EBIT** Cash attheendofyear Proceeds fromshareissuing Receipts minusrepaymentofloansandcredits PERFORMANCE INDICATORS,thousandrubles EBITDA* Indicator Indicator Indicator 31.12.2009 -1.9% -1.3% 8.7% 2.8% 31.12.2010 14.0% 9.4% 3.8% 2.2% (netprofit)/(periodaveragevalueofequity) (netprofit)/(periodaveragevalueofassets) zation) /(salesrevenue) (Profitbeforetaxes,interestpayableandamorti- (sales revenue) (earningsbeforetaxesandinterestexpense)/ -22 750612 -1 248461 24 880324 19 378056 -4 815393 1 296611 4 089831 31.12.2009 4 062807 3 572477 3 862886 For 2010 Calculation methodandnotes -9 848254 3 959142 4 505308 9 329144 5 782809 8 588447 2 704427 31.12.2010 9 671235 For 2009 -27 056
83 ANNUAL REPORT JSC RAO UES / 2010 84 ANNUAL REPORT JSC RAO UES / 2010 formation. on influence the positive cash Company’s flows a had which funds, of release the in resulted liabilities current in increase simultaneous a to the of decrease the item, “prepayments” and due mainly assets, current of Reduction ards. stand trade within are years two past the for Turnover of indicators items the capital working TURNOVER INDICATORS capital. and assets of profitability expected in increase gradual a in will create vestments returns, resulting economic in of the shareholder term the implementation medium the in 2010, however in Company the by income additional an receiving in result not by which happened the equity end of 2010 could in increase an that noted be should It capital. of index profitability the in reflected is opment of The dynamics the positive devel Company’s KEY PROFITABILITYINDICATORS 2010. in performance the on differences rate exchange of impact negative led to management of reduction a the significant relating to the instruments currency internal risk - - - * aftermakingadjustmentsforthereclassificationof“Targetedfunding” account. EBITDA/Outstanding interest * aftermakingadjustmentsforthereclassificationof“Targetedfunding”account Absolute liquidityratio including thetradecreditorstimeofturnover,days including thetradedebtorstimeofturnover,days Net debt/EBITDA LIQUIDITY RATIOS THE TURNOVERTIMEOFCIRCULATINGCAPITAL Current liquidityratio Time ofturnoverreceivables,days Net debt,millionrubles The assetstimeofturnover,days Accounts payabletimeofturnover,days The shareofequityinliabilities (Interest+Short-termfinancialliabilities)/EBITDA SOLVENCY ANDFINANCIALSTABILITYINDEX 31.12.2009 31.12.2009 31.12.2009 121.90 22 113 21.93 28.52 27.18 0,62 6.09 0,57 3,82 1,4 1,7 5.4 31.12.2010 31.12.2010 31.12.2010 19 064 20.79 37.81 26.52 80.10 0,50* 2,63* 5.60 0,67 0,4 3,5 2.2 (equity)/(totalliabilities) amortization) interests, depreciation& before taxes,outstanding net ofcash)/(profit (financialobligations, (cash)/(currentliabilities) liabilities) (currentassets)/ Cost) balance sheetitem)*360/ (periodaveragevalueof (Sales) balance sheetitem)*360/ (periodaveragevalueof of cash financial obligations,net Calculation methodand Calculation methodand Calculation methodand notes notes notes further organic growth. organic further for and projects investment financing for ings to borrow raise additional possibility maintains ratio, which, in that turn, suggests the Company on the stability improving and solvency financial impact a had significant efficiency operational of increase and portfolio loan the Reducing assets. non-current rubles), the while were investments recorded as (by rent the end liabilities of 2010 was received targeted funding reflected in cur TPP-2 of 2 Unit Kaliningrad the commissioning of approach the with connection in 2010 in In particular, in the accounting. of transactions tion of the but Company due to the peculiarities was not due to condi financial the deteriorating decrease this however place, took indexes ity a period the During in decrease reporting liquid INDEXES LIQUIDITY ANDFINANCIALSTABILITY — 14.4 billion - - - - gram and further development of gram development the and further Company. pro investment of implementation successful cash flow operating in 2010 form the basis for the and indexes profitability in growth the capital, equity in Increase perspective. term long and short the in Company the of stability financial high show indicators financial Key strategy. Company, its aimed long-term at implementing the of development sustainable the indicate efficiency of evaluation performance operating as of well financing, the as activities Company’s sources and liabilities and assets of structure the in changes of analysis the whole the On -
85 ANNUAL REPORT JSC RAO UES / 2010 SUSTAINABLE DEVELOPMENT (Corporate Social Responsibility)
6.1 6 2 6.3 6 HR and social policy Charity Environment Protection measures to measures training attract young professionals, Company The staff. total the of 19% is old years 50 above group Age old. 28% 50, to 31 the of total aged consists staff from employees the age following includes groups: staff 53% of As at 31.12.2010 the of structure the Company’s place. took categories managers and workers specialists, experts/ of proportions of change the 2010 in positions affiliates’ of categories unified of introduction the and optimization system ment manage Company’s the with accordance In Company. the of activities of RAO the UES INTER Group and the expansion the for new of managing assets ment solutions is todue in to staff the need imple growth The identified: were priorities following the Company’s the of part a As HUMAN RESOURCESPOLICY 6.1 the employees. a continuous exchange of knowledge between in the Company and developing the ideology of knowledge of environment actual the Forming man capitalprinciples; implementation ofstrategicinvestmentsinhu- and development resources human Providing minimizing insocialandlaborrelations; ees, labor collectives and trade unions and risk Ensuring responsibility of the position of employ- fective systemofmotivation; ef- and conditions labor competitive Ensuring fulfilling the strategic objectives of the Company; of capable experts qualified highly Attracting — employees under 30 years years 30 under employees — H R policy aims to implement implement to aims policy R HR ANDSOCIALPOLICY H R policy in 2010 in policy R - - Russian Government, etc. Government, Russian by 49% by YoY49% of use distance to due is intensive of number in Increased employees trained 2010 Gu Russian AN and universities Russian leading in of the organizations as industry, training well as of Institute Power of Institute University, Labor, Civil Service Corporate the Development, Professional of Institute Energy Petersburg St. the Institute, Engineering Power Moscow of the centers ing train specialized in training professional with provided were staff) of number actual the of In 2010 2,112 of (89% the employees Company education. higher has staff Company’s the of 70% employed. are workers and managers specialists, perts, ex qualified highly UES RAO INTER JSC In held. was category 1st the of rate wage monthly the of indexation quarterly a prices consumer of index growth the with accordance in 2010, During full. in and promptly paid were wages the 2010, In of the of the objectives the implementation in their participation ensuring UES subsidiaries, of tion with trade INTER RAO union organizations 2010 as of part the in work of the Company’s aspect An important group. age older of specialists the by taken positions for reserve staff internal of ness schools under the Government of the the the Government under schools ness was 24% of the Company staff. 24%was Company the of organization union trade of members are who of employees number 2010, In total policy. the V shE, MSE MSU, MSU, MSE shE, F ederation, Gubkin RSU Gubkin ederation, of Oil and Gas, F urther Training urther and in other regional H R Policy was active interac F inancial university of the the of university inancial busi H H R - - - - 2010 2009 2008 2010 2009 2008 2010 2009 2008 2010 2009 2008 2010 2009 2008 CATEGORIES asof31.12.2010 DYNAMICS OFTHESTAFFGROWTHBY RAO UESasof31.12.201 DYNAMICS OFSTAFFJSCINTER EDUCATION LEVELasof31.12.2010 DYNAMICS OFCHANGESINTHESTAFF 0 0 0 200 200 500 400 400 1000 600 600 800 1500 800 1000 1200 2000 1000 1400 1200 Secondary education 2500 1600 Higher education 1400 1800 Specialists Workers Experts, Officers 2371 2242 1912
87 ANNUAL REPORT JSC RAO UES / 2010 88 ANNUAL REPORT JSC RAO UES / 2010 DISTRIBUTION OFCOSTSFORSOCIALPROGRAMMES IN 2010,% DIRECTION OFSTAFFTRAININGANDDEVELOPMENTIN2010,% THE COMPANYSTRUCTUREBYAGEasof31.12.2010 governance, law RAO UES RAO Health and activity of employees of activity and Health 1.0 Labor safety, fire and industrial safety to 30yearsold international performance works of mentation related training to of the improving quality imple sector, and of training improvement managerial energy the of development the on forums and of quirements the in law,seminars participation re the with accordance in employees for ing RAO INTER UES in 2010 were: train mandatory JSC of development and training in Priorities employee. per training of cost average the reduce and of costs us the training to optimize Russian the the of legislation and regulations market in electricity the changes current munications, com corporate and tax accounting, accounting policy, social and resources human cluding in development, staff of programs corporate of implementation and technologies learning Welfare ofworkersandsupportforyoung families integrated systems / Energy efficiency and saving 2.0 F ederation, etc. This approach allows allows approach etc. This ederation, / Professional career and young professionals young and career Professional / 673 /28% 2.0 1.0 /Traininginthecivildefenseandemergenciestraining,emergencyresponse / Economics and Finance. Audit /From31to50yearsold 25.0 1.0 41.0 / Operational dispatch management of company / Life and labor safety of workers of safety labor and Life / / Maintenance and repairing of power plant equipment 9.0 1244 /53% 4.0 / Management and Human Resources Management - - - - - 100% 100% 100% 4.0 Priority social objectives in 2010 were: the im the 2010were: in objectives social Priority SOCIAL POLICY approved. was RAO UES of INTER JSC for em-ployees Ethics of Code the of version new a development culture corporate the of program the Within education. higher the of institutions industry-specific recommended of list a and Office Executive the and staff for program training comprehensive a developed has UES RAO INTER JSC efficiency energy the improving and programs saving energy of etc.).foreign languages, studying On the basis the certificates, international (getting standards plementation of con programs social corporate plementation / Culture of INTER RAO UES RAO INTER of Culture / /over50yearsold 28.0 / Other social programs social Other / 1.0 454 /19% / Sale of electricity 43.0 2.0 1.0 / Environmental protection / Decent pension Decent / 1.0 / Children of INTER of Children / 2.0 3.0 / Software of / Corporate 14.0 / - - retirees of the Company. the of retirees and children care about taking families, young and supporting skills, of knowledge professional of development their and careers improvement improvement, welfare and healthcare ployees em the employees, of safety labor and life of 2010:ensuring January in signed agreements policy are on founded the basis of the collective social Company’s the of principles main The evaluation. efficiency and implementation their monitoring subsidiaries, of in tained agreements the collective Company working places in the process of certification. of process the in places working 356 on improved were conditions working the case this in 1890; totaled workplaces certified of The total number was completed. Company the of units structural all in conditions working on workplaces of certification the 2010, In implemented. was age retirement and for on support social workers close to retirement (NGOs) program of pension focused non-state the for unified the and executive office branches in Company the field of in private pensions 2010 the of policy uniform a implement to order In 2010. since agreement collective the of programs social 12 of tation for on branches reporting social the implemen activities. social corporate of field the in progress about stakeholders inform to and of their effectiveness social programs, corporate in preparation port order to measure the results the re of project social public of implementing 2012 the provided with Company the possibility 2010- of agreements collective of format New key indicators performance of the Company. of implementation tothe aretied toemployees bonuses awarding of Indicators effectiveness. criteriaforevaluatingthe determining their and financial incentives for the Company’s employees Collective agreements are developing a system of purpose, the Company introduced a quarterly quarterly a introduced Company the purpose, F or this this or - - - was composed, the recommendations on the the on recommendations the composed, was report analytical an events the of result a As technology. combined-cycle the for branches the of staff operational of skills professional of competition corporate organized time first the for Company the UES” RAO INTER of ployee em best “The program social the of part As allocated. were treatment preventive and region, the for rehabilitation, vouchers medical the in organizations sports best the in training sports regular for opportunity the given were employees and events, sports subsidiaries, in days sports in and sports, various tournaments were activities being held: reational competitions the During year, lifestyles. team and rec sports and form conditions, a working culture of healthy and the sonal minimize diseases risk of harmful to of the risk reduce measures sea preventive of and insurance, health implementation untary of vol programs care on the medical qualified providing on work continued Company the 2010”in employees UES RAO INTER of the ity As of part the program social “ H ealth ealth and Activ - - - - - ACTIVITIES” PROGRAM,% AND HEALTH “EMPLOYEES’ UES RAO INTER THE OF IMPLEMENTATION OF DIRECTIONS social programs. social implementing of process the in branches ion un trade of involvement active the practices, accountability public social of development the Company, the of system management corporate in responsibility social corporate of concept the of integration the and the Company of development sustainable long-term providing system, innovation as integrated an activities social corporate of de the velopment on focus will policy Social 2011, In developed. were training simulator and staff of development a system training for production medical rehabilitation,andpreventivetreatment ance Material assistance payment for the annually paid vacation 22.0 / Additional leave for employees with special regime of work / special conditions 7.0 /Compensationfortemporarydisability 27.0 - - 100% / Voluntary medical insurance 6.0 13.0 / Sports and recreational activities, 25.0
/ Compulsory medical insur-
89 ANNUAL REPORT JSC RAO UES / 2010 90 ANNUAL REPORT JSC RAO UES / 2010 the mass and youth sports, the implementa the sports, youth and mass the support to paid is attention Special facilities. health institutions, educational organizations, government and public supporting activities, The Company carries out diverse charitable charitable diverse out carries Company The development. sustainable Company’s of factors UES and are one of the fundamental RAO of INTER JSC responsibility social porate cor of part are charity of field the in Activities decrease in the unfavorable effects on the en the on effects unfavorable in the decrease The plans to Company achieve a considerable plants. power of its operation the during formed of pollutants utilization and of neutralization measures plies and ap situations of monitoring environmental continuous the out carries Company the tion of protec the environment Realizing importance accidents. and situations emergency of risk minimizing and employees its for environment healthy and safe a ating cre of purpose the with methods production up-to-date most and technologies advanced the uses Company The law. international the of provisions the and legislation Russian the of requirements the follows UES RAO INTER JSC protection environment of sphere the In 6.3 6.2 ENVIRONMENT PROTECTION CHARITY ------ans, war veterans and invalids of the Great Great War. the Patriotic of invalids and veterans veter war ans, industry of care the to dedicated are programs support Special values. cultural of revival the and programs, scholarship of tion financial assistance to the abovementioned abovementioned the to assistance financial provides only re not UES RAO on INTER JSC focused sults: and nature in systemic are charity of field the in activities Company’s The tions of licensing agreements in the field of of field the in agreements licensing of tions condi the with complies strictly company The rules. protection environmental and standards environmental documents, regulatory sian of requirements Water Code 373- the as well as 1998, 24, June dated waste” No.89- 1999; 04, May dated air” atmospheric the of No.96- 2002; 10, January No.7- the laws following of the the Russian follow protection of the vironment requirements en of sphere the in specialists activity their In program. investment its of implementation of course the in solutions and by vironment technologies using the promising F F ederation dated ederation June and 03, other 2006 Z “On environmental protection” dated dated protection” environmental “On Z F Z “On production and consumption consumption and production “On Z F Z “On protection protection “On Z F Z of the Rus- F ederation: ederation: - - - - of the development accountability corporate in the of field is strategic, charity as it promotes We are that confident each project implemented citizens. Russian of generations future and present of benefit the for results concrete but small to achieve people different of efforts of the development our country, to consolidate RAO INTER UES aims to make to a contribution JSC activities, charitable in engaged Being effective. most the sistance as this makes that system a builds also but institutions, or citizens of categories other or one one of of the main qualities any large company. JSC INTER RAO UES, the main of which are: which of main the UES, RAO INTER JSC of branches the in out carried were measures protection environmental of number а 2010 In PROTECTION MEASURESDURING2010 MOST SIGNIFICANTENVIRONMENTAL purposes. protection nature for areas are invited to out carry the works intended for the restoring technologies disturbed to-date up- most the using organizations Specialized in for involvement turnover. the further economic transfer of land reclamation, land to the landlord to use and of rational attention protection land, pay great Subsidiaries protection. environmental tification ofwasteattheSochi TPP. cer- placement, their on limits and production waste for standards of development Project naya TPP; Ground water monitoring in the Severo-Zapad- stationary sources (MPE) in Kaliningrad TPP-2; missible emissions of pollutants into the air from Coordination and approval of standards of per- in theKaliningradTPP-2; able discharges of pollutants into water bodies Coordination and approval of standards of allow- — - WATER CONSUMPTIONBYJSCINTERRAOUESIN2010,thousandm Kaliningradskaya TPP-2 TOTAL: Severo-Zapadnaya TPP Ivanovskiye PGU Sochinskaya TPP Underground water From townwatersupply From surfacewaters TOTAL EMISSIONSOFJSCINTERRAOUESIN2009-2010,tons ing facilities. ing engineer power for environment the on effect Total IMPACT ONTHEENVIRONMENT to 33.156rubles. 2010 amounted year million the for whole a as measures protection ment of environ the scheduled subsidiaries Russian by implementation the for costs actual Total emissions Dynamics ofpollutant Branches Source Pollutant emissions emissions Pollutant have a predominant have a predominant into the atmosphere 4104.9 8 011.560 8 221.110 1985.1 1339.2 withdrawal 64.04 716.5 2009 120.870 Total 88.680 Water SO2 0.36 0.05 0.00 0.30 0.00 Water used 7 753.32 7 962.87 120.870 - - 88.68 Total of water use for domestic needs. domestic for use water of and reduction generation in decrease electricity a by caused is YoY.decrease The thousand 8 in RAO 2010 UES subsidiaries Russian is about INTER JSC of volume consumption water The production. power electrical and heat of cycle Water is resource in a the necessary technologic IMPACT ONWATERBODIES 221.11 m thousand 3310.1 1669.0 702.9 899.9 NO2 38.3 for production 7866.470 Including 511.7 439.2 needs 13.6 14.5 44.3 CO 3 , i.e. the is decrease 829.32
3
pollutant Other 282.8 271.4 for drinking 0.00 11.2 0.1 Including 74.430 needs
2010 5586.3 3271.3 1321.5 Total 894.2 99.3 Including for other 21.970 needs SO2 2.60 0.00 0.25 0.01 2.34
Transferred by 4528.3 without usage 2724.1 876.8 864.3 NO2 63.1 enterprise 258.240
600.1 102.3 454.8 17.5 25.6 CO enterprise after Transferred by 605.660 pollutant 455.38 444.93 usage 10.36 Other 0.00 0.09
91 ANNUAL REPORT JSC RAO UES / 2010 92 ANNUAL REPORT JSC RAO UES / 2010 TOTAL WATERITHDRAALBYSOURCEIN2009 —2010,thousandm TOTAL INJSCINTERRAOUES Underground resources Town watersupply Surface sources Ivanovskiye PGU Underground resources Town watersupply Surface sources Severo-Zapadnaya TPP Underground resources Town watersupply Surface sources Sochinskaya TPP Underground resources Town watersupply Surface sources Kaliningradskaya TPP-2 Kaliningradskaya TPP-2 TOTAL INJSCINTERRAOUES Ivanovskiye PGU Severo-Zapadnaya TPP Sochinskaya TPP IN 2009 —2010,thousandm WATER FLORATEINTHESYSTEMSOFREVERSEANDRECYCLINGSUPPLY Source Branch 3 supply water reverse Volume of 2009 471 102.,3 231 775.0 177847.0 61 480.3 0 supply water recycling Volume of 350.845 13.845 290.0 47.0 0 2009 Volumes ofwithdrawal 9 050.428 4 396.55 432 962.630 3 557.2 3 592.1 4 267.6 supply water reverse Volume of 2010 74 921.630 65.378 65.378 190 865.0 167 176.0 992.8 996.4 128.8 0.150 33.6 1.3 3.6 0 0 0 3 0 2010 supply water recycling Volume of 3 590.960 3 623.660 3 220.780 3 302.020 8 221.110 1 199.820 1203.080 335.520 92.350 92.350 25.130 81.110 34.580 16.940 7.570 3.260 0.130 284.0 0 0 0 0 policy environment protection Financing ofthe ENVIRONMENT PROTECTIONEXPENSES UES. RAO INTER JSC of branches by the out carried are wastes consumption and duction of pro and disposal of utilization activities The REDUCTION OFTHEIMPACTONSOIL sumption at the stations of JSC INTER RAO UES. water resourses and ensure rational water con ply are applied in order to reduce the impact on The systems of reverse and recycling water sup WATER SUPPLY REVERSE ANDRECYCLING ment (environmentalpayments). environ- the on impact negative for Payments ment protectionexpenditures; policy includes: policy protection vironment F inancing of the en the of inancing urn environ- Current - - - - consists of: consists The impact payment for environmental negative costs: the of consist Current for expenses the protection environment Under thefifthclass Under thefourthhazardclass Under thethirdhazardclass Under thesecondhazardclass Under thefirsthazardclass By JSCINTERRAOUESBRANCHESIN2009AND2010 GENERATION ANDDISPOSALOFTHEPRODUCTIONCONSUMPTIONWASTES TOTAL Waste environment protectionlegislation of violations the by caused damage of sation funds (claims, penalties) collected as compen- ing) ofcontaminators,placementwastes; the payment for above-level emissions (dump- ing) ofcontaminators,placementwastes; the payment for the allowable emissions (dump- on theenvironmentalprotection average annual cost of basic production assets assets ontheenvironmentalprotection production basic of repairing capital the for for thelandsrecultivation the productionandconsumptionwastes; protection of enviroment (land resources) from the for air atmospheric of protection the for resources for the protective and efficient utilisation of water 2009 year generation per Wastes 2 148.586 2 560.883 386.894 23.532 0.206 1,665 2009 per year Utilized wastes,tons 010 074 072 071 070 063 062 061 060 050 041 040 030 021 020 OPERATING COSTSANDMAJOROVERHAULIN2009-2010,thousandrubles No. Line 2 146.743 Current environmentprotectionexpenses —total(020+030+040+050) Environment protection against production and consumption wastes Includingatmosphericairprotection Including water-resourcesconservationandwater-useefficiency protection (071+072+073) Average annualvalueofbasicproductionassetsforenvironment Plants, facilitiesandequipmentforwastedisposalneutralization ing agentswhichpolluteatmosphericair. Plants, facilitiesandequipmentfordetectingprocessingofpollut- sound wateruse Including: sewagedisposalplantsandwastetreatmentfacilities ment protection(061+062+063) Expenses oncompleteoverhaulofbasicproductionassetsforenviron- From page010:expensesonlandrestoration tion, storageanddisposalofproductionconsumptionwastes Including expensespaidtootherenterprises(organizations)forcollec- against productionandconsumptionwastes From page010:expensesonenvironmentprotection(landresources) From page010:expensesonatmosphericairprotection waste watercollectionandtreating Including expenditurespaidtootherenterprises(organizations)for efficiency From thepage010:expensesonwaterconservationandwater-use 2 564.167 Name ofexpenses 392.21 23.343 0.206 1.665 2009 year end Availability for 5.113 5.163 0.05 0 0 0 2010 year generation per Wastes 2 053.380 2 655.767 516.313 81.129 3.493 1.452 2010 tons peryear Utilized wastes, 2 052.504 2 654.127 2009 515.656 2 395932.586 81.022 3.493 1.452 2 323171.4 39 355.097 61 821.497 72 594.0 10 471.5 27 387.7 212.186 1013.2 2010 year end Availability for 0 0 0 0 0 0 13 298.362 20 493.280 37 775.942 14 268.730 272 928.,0 2010 9 758.362 200 465.0 72 463.0 3 883.2 2.978 3.688 101.1 6.646 0 0 0 0
93 ANNUAL REPORT JSC RAO UES / 2010 PROCUREMENT 7 ACTIVITIES tasks of the CTC are: the of tasks main The policy. procurement the of approval of time the from as acts and formed been has The of Central Tender the Commission Company 24.12.2010). dated 35 No. Minutes No. 24.06.2008, 3 dated (Minutes Directors of Board Company the by approved 0.5 mln which is rubles stated in the Regulation of amount the in subsidiaries Company’s the ( rubles mln 2.5 of amount the in determined was UES RAO INTER JSC of body executive the for procurements lated value The for of threshold the regu application Regulation. the with pliance adopted in documents com and administrative as well as by and other organizational regulatory referred UES to(hereinafter as the Regulation), for works goods, and JSC services RAO INTER of procurement regulated for arrangements Russian the of legislation effective the by governed is UES RAO INTER JSC of activity procurement The activity. of which is area a works, goods, services, priority of purchase non-tender and tender of system the of improvement the at aimed activity of area the created has UES RAO INTER JSC expenditure justified economically obtaining as well as funds, cash of spending effective F (GOODS, WORKSANDSERVICES) PROCUREMENT OFPRODUCTS or the purpose of ensuring the targeted and and targeted the ensuring of purpose the or curement, objectivity, impartiality and trans- and impartiality objectivity, curement, Ensuring adequate levels of competition in pro- course of the regulatory basis of procurement; Ensuring the development and approval in due works, andservicessuppliers; goods, the of offers of competitiveness the ensuring by created environment competitive The implementation of procurement policy in a F ederation, the Regulation on the the on Regulation the ederation, V AT exclusive), for for exclusive), AT - - ment Program (hereinafter referred to as the the as to referred (hereinafter Program ment ment”. A copy of the Procure Complex Annual in the subsection “Procure section responding cor a contains site corporate Company’s The www.interrao.ru. “Procurement” section UES, RAO INTER JSC of internet-site corporate the www.b2b-energo.ru, industry system of operational in procurement the energy and trading- the includes: information-analytical procurement the on information official of tion publica the for Company the of Directors of Board by the approved media of mass list The ACTIVITY OFTHECOMPANY PUBLICITY OFTHEPROCUREMENT subdivisions. branches’ and Company’s the of experts dedicated of involvement with procedure regulated separate each for order by an individual approved subsidiaries pany’s Com the and Body Executive of the missions Com (Procurement) Tender of competence of scope the within are procedures of regulated winner a of selection the and ranking of requirements the meet which offers petitive of com rating and evaluation of consideration, F Unit. Procurement the by out carried is CTC, the of meetings at taken decisions the of implementation of monitoring as well as CTC, the of support cal methodologi and technical Organizational, 24.12.2010). dated 35 No. (Minutes Directors of Board Company by the approved was of Company the mission Com Tender Central permanent The Directors. of Board the of right prerogative exceptional the is members СTС the of appointment The or the purpose of carrying out the functions functions the out carrying of purpose the or equitable treatmentofallsuppliers. and fair procedures, procurement of parency ------ACTIVITIES INTHECOMPANY ORGANIZATION OFTHEPROCUREMENT energo.ru. www.b2b- industry energy the in procurement of system trading-operational and analytical information- the of subsection corresponding the in published are procedures open of ance perform the on publications official of copies for works and JSC services RAO INTER UES” all for rangements of regulated procurement goods, ar required the on “Regulation the of ments http://www.b2b Trading Platform: Electronic the on and http://www.interrao.ru/ site Company’s the on published was ACPP) In accordance with the guidelines and In require with the accordance guidelines TER RAO UES” and the approval of the order order the of approval the and UES” RAO TER IN JSC of needs the for services and works of procedure of regulated procurement goods, the on “Regulations the of adoption the Since etc. procurement, of way the changing procurement, from lot of a separate allocation the prices, of lots’ the planning lots, of of names change the “,UES RAO including of INTER JSC for needs the services and works of goods, procurement of regulated procedure the on “Regulations of basis the on Program Purchasing Integrated Annual the to ditions ad and changes CTC made 2010, the During procurement. regulated the for training and education staff of Rules the of provisions the with in accordance trained been has positions com PDZK the of body main The Company. the of branches all and office executive the in created (PDZK) Committee Procurement to Standing the are assigned procedures ment procure the of winner a of choice and ence prefer of degree the by bids competitive of requirements of relevant ranking and evaluation examination, of functions of Implementation ‑ energo.ru. ------
95 ANNUAL REPORT JSC RAO UES / 2010 96 ANNUAL REPORT JSC RAO UES / 2010 of the Board (Minutes № 209 of 04/08/2010)]. of №209 (Minutes Board the of meeting a at approved OR.BZ.83, passport of affiliates the JSC INTER RAO UES [the project and and executive branches subsidiaries, office, the of needs the for procurement centralized and develop a company, specialized providing In 2010, the works were out carried to establish THE SUPPLYSYSTEM CENTRALISATION OF rubles. thousand 046 — 3822 purchases of amount / № 2)26 total of the for 26.04.2010 (Minutes Directors of Board Company the by approved and 2010 for plan business draft a of year 2010on the basis formulated has been the for (consolidated) Company the of ACPP (ACPP) IN2010 COMPLEX PURCHASINGPROGRAM IMPLEMENTATIoN OFTHEANNUAL received. have been Company, complaints no the of CTC the by procurement regulated for procedures the to related litigation pretrial of procurement activities of the Group. the of activities procurement for framework create a locally-regulatory single in is ment order being implemented toactivities the regulating procure the documents existing plan a to to comprehensive make amendments Group to the system, supply currently centralized UES RAO INTER JSC of companies in system from the a procurement transition decentralized and Group the of policies procurement of tion for the responsible ized implementa companies, RAO INTER UES to a establish group of special with adopted In the by decision connection JSC - - - FACTORS AND RISKS THAT HAVE A NEGATIVE IMPACT ON 8 THE7.1 COMPANY7. 2 7.’ 3S ACTIV7. 4 ITY 7. 5 The Company carries out its activity with regard of its activities. set by the shareholders and the implementation faced by the Company in implementing the tasks tions had a impactsignificant on the risk profile of the Company are largely volatile. These condi complex structure of assets; the financial results a has UES RAO INTER JSC conservation. and efficiency energy of field the in solutions and technologies innovative of application the and installed capacity, diversification of its business of increase the to due development rapid the at course the continued Company the2010 in for the period of up to 2015, according to which The guide of the Company activities is a strategy RAO UES is focused on a timely identification identification timely a on focused is UES RAO INTER JSC of system management risk The of all concerned. interests the balancing while value Company’s the of growth and objectives strategic of ment management are aimed at ensuring the achieve ment the Company’s activities in the field of risk manage risk on Regulation the to According been approved. have management risk financial on LNA the RAO NORDIC Oy and INTER RAO Lietuva (ERC) as well as subsidiaries, production main the in In order to improve risk management procedures management. risk corporate on policy a developed also and all departments and branches of the Company, for mandatory UES, RAO INTER JSC of ment manage risk on Regulations the of approval Directors of Board the in resultingprocedures, risk-management of development the to ment commit its increased Company the 2010, In scale investment projects of JSC INTER RAO UES. inform ofcapital investment aswell asinlarge- electric power, the implementation of investment foreignand markets, production ofthermal and business segments: trade activity on the Russian keyprofilerisksconnectedthe widewith a to - - - - - 98 ANNUAL REPORT JSC RAO UES / 2010 improve the electricity markets by converting converting by markets electricity the improve supply to consumers. supply energy reliable ensure to markets electricity retail toand market form an efficient electricity wholesale market into competitive a full-fledged power and electricity wholesale existing the Russian the the of reform tor One of areas of the most power important sec 2010 were: thetrends theofelectric powerdevelopment in ofJSCINTERityRAOUES connection in with The most significant factors influencing the activ OF THEPOWERINDUSTRY FACTORS RELATINGTOTHEREFORM risks. Company’s the of field the forming and UES RAO INTER JSC of activity the affecting factors risk key following the fies At the end of the year 2010, the identi Company via: levels all on activity Company’s into the integrated is management of all risk potential factors and The sources. risk tric power market (EPWM) according to which elec- domestic the of liberalization including continuing reforms of the electric power industry ogy ofriskmanagement. rate integrated policy, regulations and methodol- Development and implementation of the corpo- agement strategy; Development and implementation of risk man- erating companies. begun work on systematizing the PDC of gen- been concluded. The Russian government has have (PDC) supply power for contracts new 2011 hasbeensigned; for contracts delivery Power market. power long-term the on signed been has resolution Government RF The (LTPM). market power the activation of works to launch the long-term population; the to suppliers guaranteed the by supplied 2011 made 100% except for the electric energy January from EPWM the of segment free the F ederation is to is ederation - - - commodity (electricity). commodity one only exports and power), and (electricity JSC Thus, RAO INTER UES buys two products systems energy foreign in and commodity, a is Russia in power which there is in a situation conditions present Under risks. these to reduce tools new seek to Company the encourages and risks market the increases which WMEP, of segment free the in import/export for Company the by sold / purchased being electricity of amount the increases (WMEP) power and electricity for market wholesale of liberalization Continued R of segment free in the power and energy trical elec the for prices of condition the on impact have turn their in which industry of spheres some in consumption power and electricity of rate development economy results in decrease in decrease the The RG post-crisis mentioned. be can sphere credits and investments the in confidence mutual of level the influenced ing hav crisis financial global the example, an As out (country risks).carries its Company activity in where the the conditions countries economic and political the on depend factors External products. its of the by sales influence the negatively Company to be in included the scope of factors which may with Along the above factors, factors external are EXTERNAL FACTORS(COUNTRYRISKS) F the of activity economic foreign of nomenclature Commodity services, and products Activities, Economic of Classification (National services and goods activities, of list a describes that framework regulatory the in commodity a as power include to as well as markets, energy international the on commodity a as power of concept the introduce to steps taking is Company the deadlock the break to order In F WMEP. ederal Customs Service). Customs ederal — a service (a right). (a service a — - - include the following: the include as operates, well as risks, the which associated it which in regions and countries of features The takes Company into geographical account energy markets. energy overseas in competition fierce experiencing Russian the of the markets power and electricity retail and wholesale the in operating producers power other and (OGK) Market Electricity Wholesale of the companies generating and (TGK) panies com generating territorial the from competition strong may experience Company the future, the In markets. neighboring and of Russia market power and electricity wholesale the liberalizing while enhanced is competition This WMEP. the on activity trading in engaged producers, electricity other with competes Company The Russia. in business supply and generation of electricity field the including industry, in the competition create to is industry power sian Rus the reforming of objectives the of One TRADE ACTIVITY HAVING IMPACTONTHECOMPANY FACTORS ANDRISKS electricity. of supply the in risks significant to leads which WMEP, to non-payments including account, into taken is activities Company’s the of implementation the on countries transiter energy Russian the of impact negative a possible risks, similar As increased risk of natural disasters, the possible including region, the and country the of tures fea- geographical the with associated Risks and theregion; country the in strikes and emergency of state the conflicts, possible with associated Risks or carriesoutitscoreactivities; and/ taxpayer a as registered is company the situation in the country and the region in which economic and political with associated Risks and/or inaccessibility. termination of transportation due to remoteness F ederation. The Company is also also is Company The ederation. - - of electricity, including through: including electricity, of of exports/imports the enhance competitiveness to order in markets foreign and domestic the in portfolio trading the manages Company the risk price to exposure reduce to measures As operations. import export- of implementation the of specifics the Decree of into the taking Government, account of WMEP, a including toof part amendments the and model framework the regulatory changing for and the proposals controls initiates situation with the cooperating NP actively Market Council, is Issuer the problems, these solve to order In states. adjacent and Russia of systems of power operation parallel the ing govern documents of framework regulatory imbalanced WMEP, sector free a of pricing the influence to opportunity no have porters im exporters, market, of wholesale costs real the ignore and model WMEP the in reflected weakly are aid) mutual emergency of vision pro the reserves, of power (provision systems power of operation parallel the of issues tion commercializa problems: unresolved some we encounter sector in electricity the activities trade foreign out carrying while present, At gas. exchange-traded for prices and fuel for agreements above-limit supplementary may arise out of for contracts long-term limit fuel, which risks as well as exchange, commodity the at risks price (GPSC), consumption and at points the (GPSG)supply time of generation of groups the in prices purchase-sale DAM of volatility the to due appear risks (price) Trade TRADE (PRICE)RISKS partners. foreign and Russian with of system cooperation organized pany is of the foreign experience trade and the of advantage the competitive A Com significant WMEP for exporting, including through the use by purchased electricity of cost the reducing - - - - - management of management power systems and observance reliable a ensures UES) (SO System Energy Unified the of Operator System the Currently parallel. in running systems energy of the ensures the functioning reliable operating The system existing interchanges. of joint actions capacity and frequency of regulation modes, of planning control, operating of coordination and the of forth main rules organization setting operation parallel the on agreements involve them with cooperation of prerequisites The to F delivered is electricity current direct the of insertion the through Also, Russia. of UES to way parallel a in operate Uzbekistan and Tajikistan gyzstan, Kyr Ukraine, Mongolia, Moldova, zakhstan, Ka Azerbaijan, Georgia, Lithuania, Latvia, Estonia, of Belarus, Todaysystems energy the countries. neighboring of ergy System of and Russia the energy systems UES is of the operations the parallel En Unified out carried by supplies JSC import RAO INTER export/ of conditions technological essential the of One countries. other of systems energy ing of the Energy System of Unified and Russia risks of function with technological connected Trading in power operations electric markets are AND TECHNOLOGICALRISKS INFRASTRUCTURAL electricity. of delivery physical hedge to markets energy using derivative financial instruments in foreign foreign energymarkets; in exported electricity of value the increasing contracts forelectricitysales; free of use the through including WMEP, on increasing the value of imported electricity sold order toimportitinforeignenergymarkets; in electricity purchased of cost the reducing and power; of free contracts for the purchase of electricity inland. - - - - restrictions at a power plant. In 2010, in the the in 2010, In plant. power a at restrictions technological to due or supply capacity of scheme external the in change the to due arise may risks technological and Process PROCESS ANDTECHNOLOGICALRISKS low. as valued be may contracts trade foreign under obligations its of fulfillment the from UES RAO INTER JSC system, the risk of a which may situation prevent energy the of reliability the ensure to order in done work of volume enormous the account into Taking parameters. system preset the of major funds, the reconstruction of and existing the major funds, reconstruction of reconstruction and modernization include of The actions to the Company risk this reduce stations. generating power in reduction bility as as well capa production, in electricity tions loss age, of security, interrup including supply with risks failure/dam associated Operational following: the are UES RAO INTER JSC for risks industry significant to According the the estimate Company’s most RISKS OFPRODUCTIONACTIVITY section. Policy in the are described risks these minimizing of field the in activities Company’s The regions. the in located Company the of enterprises manufacturing the from personnel They are with of the connected outflow qualified RISKS OFPRODUCTIONMAINTENANCE states. Baltic of UES Operator System by the of the Issuer, capabilities -import export limiting power flow allowable downward, thus maximum the of revision toward trend a also is There performance. financial on impact a negative had and electricity of livery de to led short which lines power of disabling “Russia section
— Georgia” there were cases cases were there — Georgia” H R and Social R Social and - - - -
99 ANNUAL REPORT JSC RAO UES / 2010 100 ANNUAL REPORT JSC RAO UES / 2010 RAO RAO UES rights toor licensing use the objects, to requirements of the main JSC activity INTER licensing in changes duties, and regulations customs laws, tax regulation, currency in es chang with associated risks include activities, The legal risks that could affect the Company’s examination. pre-legal mandatory a through go Company the of operations all Toforeign countries. legal risks minimize almost Russian the the of territory the in operating entities business most for typical ness in and foreign domestic markets, which is busi implementing when arising risks legal are related activities Company’s to the possible LEGAL RISKS reduced. be will UES RAO WME share the impact of this risk on JSC INTER of segment free of the increase the with Along WME. of the segment regulated the in of sales the profitability reduce that could in prices fuel rates growth ratewith compared for electricity, level, as well as the justified lower growth likely economically the below tariff of establishment rate growth tariff electricity of slowdown The regions. and by industries of contracts supply free electricity diversification and supply electricity for contracts long-term and costs concluding the production reducing at aimed are management risk of steps Basic category. significant most the of to be risk this for demand the considers Company electricity, of recovery the of moment the environment current the in forecasting of difficulties and tricity. Due to the large of number uncertainties elec for demand in reduction the from arises risk The volumes. production in Decrease damages. for insurance property as of as new facilities, well construction generating . This risk is associated with the possible possible the with associated is risk This . F ederation and and ederation - - - Assessment of financial risks, development of of development risks, financial of Assessment FINANCIAL RISKS ACTIVITY OFTHECOMPANYINTERMS FACTORS ANDRISKSIMPACTINGTHE adopted. changes the account into taking planned be will subject the of activities economic and financial UES, RAO INTER JSC of business the to relating matters on practice judicial in change a of case In activity. its on changes of such impact of possible the extent the predicts and assesses legislation, tax the to changes monitors The continually Company practice. judicial in resources), natural as well as cluding changes (in limited is circulation in which of presence sible losses the Company manages credit risk risk credit manages Company the losses sible pos minimize to and obligations their fulfill to contractors by failure of risks the prevent To (CREDITRISK) DEFAULT BYCOUNTERPARTIES RISK OFOBLIGATIONS risk. credit and risk) liquidity (including pay of loss of risk risk),rate interest and currency (including risk market of tem and governs management the assessment sys risk on management financial Regulations which govern of the risks. management financial instruments regulatory local corresponding of system and risk nancial management a package The on has Company fi approved Regulations C cates certifi professional international by confirmed is risk financial the manage to unit operating Q units. business core Company’s the by basis regular a on conducted are control and toring moni for risk measures management, financial ualification of employees of the Company’s Company’s the of employees of ualification F A and F A and RM. ------Company carries out preventive measures: an measures: preventive out carries Company the losses minimize to order In major. a as sia Rus in activities trade out carrying in defaults of risk the evaluate to continues Company the regard, this In economy. Russian the for casts does not allow to and build fore reliable positive economies major world’s the of development the regarding further uncertainty crisis, nancial fi the of phase acute the of end the Despite companies. insurance and banks including institutions, financial as as well financing), intra-group implementation (the subsidiaries its with suppliers), and ers (custom partners external with interaction in to the given risk is within the controlled limits. limits. controlled the within is risk given to the exposure Company’s the risk credit the age to man activities As a of result the undertaken place. take limits these with compliance of monitoring regular banks and subsequent with counterparty tions credit internal ratings of banks, on limits transac to of the the adopted methodology, assignment according Company the of units structural the by out carried banks, of ratings credit the on Based banks. counterparty the of risks credit to Company the by paid is attention Special minimal. are by estimated transactions the as Company Risks and of budgeting. in defaults intercompany ized of the through planning processes business real is subsidiaries of its control solvency The well. as process are out activities carried the during procurement credit, bank and guarantees warranties). Similar risks (the the advance payments, use of of letters credit reducing the uses Company mechanisms agreements the concluding when addition, In of eral, regular receivable. monitoring accounts gen in stability financial and creditworthiness for of parties the analysis contracting solvency, ------currency loans. loans. currency foreign borrowed the repay to outflows ruble reducing in result will liabilities for currency of eign revaluation the case, this In markets. international on some competitiveness of decrease and Company the of earnings export of filling ruble the in to a decrease lead could the 2010. of end since formed currency national the of Russian strengthening gradual a of dynamics YoY, the and volatility rate exchange reducing in manifested were trends Major dollar. U.S. and Euro the against ruble the of movement multidirectional a was there 2010, During derivatives. financial using hedging as well exchange transactions, as implementing currency of volume the optimize to currencies stock tains a of sufficient in assets liquid foreign main Company the risk currency to exposure reduce to addition, In Company. the of risks the reduces which naturally currency earnings, exchange foreign the of size the and liabilities currency foreign of amount the between ence the tostrives Company ensure the correspond activities its planning of framework the Within dollar/Euro. rate US exchange the of change the as well as volatility, rate exchange ruble the are Company the for sources risk main The increase. or decrease profit the in results which Company, the of liabilities and holdings exchange foreign other and assets of exchange the commitments Company, cash of readjustment the to lead rates exchange of changes addition In revenue. currency foreign a result of in changes of the ruble equivalent the can by be activity influenced exchange rates as Company’s of the indicators performance The (CURRENCY RISK) OF FOREIGNCURRENCIES OF EXCHANGERATE RISK OFFLUCTUATIONS F urther strengthening of the ruble ruble the of strengthening urther - - - and stress testing. stress and modeling scenario as GAP-analysis, techniques such of basis the on rates interest of changes and of forecasting loss due potential to adverse ment the out carries Company regular analyzing manage risk interest of framework the Within activities. Company’s the affect adversely could 2011 in risks these of implementation Possible ing. of a in gradual increase the cost of debt financ the most for likely scenario 2011 is the scenario and that the rates in 2010 were at lows, historic inflation in rise global the account into Taking Company. the of 2010 had a impact on positive the performance bid. In of the general, dynamics interest rates in this under loans dollar borrowed previously of cost the in reduction a to led has LIBOR rates In the expenses. in addition, reduction Interbank interest in reduction substantial a made tions, obliga financial its refinanced having partly to Reacting the the market Company, situation, rate. refinancing CBR the and LIBOR, Rate Offered Interbank London in changes to sensitive is Company the of maintenance obligations financial tain cer of cost the particular, In risk. interest the to exposed are rates interest floating at raised Also the loan refinancing. Company’s proceeds of moment at rates the interest of loan revision The main interest risk for the is Company due to (INTEREST RISK) OF INTERESTRATES RISK OFCHANGE obligations. its to of perform the Company the ability affect to reduce it, at the can moment not significantly rency into risk, taking the account taken actions cur a estimates, Company’s the to According - - - - - (INFLATION RISK) RATES CHANGES RISK OFINFLATION obligations. its to fulfill Company the of ability the considerably ence the contracts current interest risk could not influ hedging relevant by covered not are which rates interest floating with credits of number and a limited term in credits the portfolio credit long of predomination the account Takinginto interest for hedging. risk instruments financial derivative uses and contracts, in of repayment options loan early provides revision, rates interest loan of frequency the the reduces loans, increases of term Company the risk interest to F rate. growth inflation the to growth revenue of rate ures to costs optimize and the increase reaction meas take will Company the of inflation levels In the case of excess a of significant forecasted below: listed risks other of number the reduces and resources, credit of cost the reduce to helps it since Company, the of operations the on impact positive a has in with Decline compared years previous inflation 6-7%. to reach in inflation 2011nomic Development is expected to According the forecast of of the Eco Ministry or the purpose of limiting of its exposure exposure its of limiting of purpose the or program. investment the of cost the increasing of risk portation costs,wages,etc. services due to increasing energy prices, trans- and works goods, of cost increased of risk risk ofincreasedinterestexpense; ponement ordelayinpayment; post- significant a at receivables of value fair the in losses with associated losses of risk the - - -
101 ANNUAL REPORT JSC RAO UES / 2010 102 ANNUAL REPORT JSC RAO UES / 2010 the policy of trading activity and the Regula the and activity trading of policy the particular In regulations. local approves and develops the Company and management risk activities trading organize to order In pany. Com the of results financial the on impact that have a of direct activities directions priority the of one as accepted are risks trade The areas. functional of risks by the specific is determined instruments cific of spe and selection of methods Combination niques: tech management risk following the applies in 2010 approved the Company Management Risk on Regulation the with accordance In versa. vice and equipment, generating own its by produced and electricity electricity the of sale imported from revenues increased by compensated is electricity, purchased of costs rising with associated in from exports, revenues decline the market Russian on the domestic increases price when of Thus, part the risks. decreases activities export-import the with conjunction in assets generating own its at electricity of i.e. production the in Russia, unique is which structure business (diversified) has balanced a Company the that noted be should It Reduction (minimizing) of risk of (minimizing) Reduction risk transfer hedging, (insurance, outsourcing). of Transfer (redistribution) risk risk. of level setpoint) work, by accompanied (above unacceptable risk of (avoidance) Denial cover losses at its own expense. own its at losses cover to ready is and situations risky of onset the of consequences possible the of elimination Acceptance of risk of risk, of diversification risk, etc.). prevention, (containment / damage possible or minimize and event risk of the likelihood the to reduce
— — the Company assumes
— the refusal of of refusal the —
— counterparty — counterparty
— measures measures — - - - - the Company uses various methods, including: methods, various uses the Company activities trading in risks manage to order In developed. been have ment manage risk of field the in regulations and methods the approved; already been have activity trading in management risk on tion their prevention: their for measures preventive basic of set a uses UES RAO INTER JSC management, risk of methods above-described the to addition In transaction or transaction trade operation which results in the of rejection the is, that risk, of avoidance management; pany. This method is the usual practice of risk Com the of services and products of price the in risk expected the from losses nancial fi accounting is, that risks, of redistribution spective contractors and partners; and contractors spective pro of indexes performance and reputation assessment of financial status, credit history, of starting operation of JSC INTER RAO UES; for business contacts to assess the possibility framework to regulate markets and information analysis of new markets, including the legislative works; UES RAO work regulating the markets in which JSC INTER analysis of markets, including the legal frame ing the specified parameters of financial losses. tions of the Company in order to avoid exceed i.e. limitation, the on restrictions trading opera markets; energy on foreign instruments financial as derivative well as WMEM, to capacity and electricity of use of free agreements of purchase and sale tic and the foreign energy including markets, domes the on hedging conducts Company The risk. to exposure reducing or hedging damage; inflict may that decisions arbitrary take not does and trade risk-reward the evaluates Company the ties a risk. When making decisions in trading activi ------ UES concerning insurance are: insurance concerning UES RAO INTER JSC of missions strategic The RISKS INSURANCE developing scenarios of future work condi work future of scenarios developing UES; RAO INTER JSC of obligations and opportunities of set tracts portfolio in order to balance the strategic periodic inventory of the investment and con investments; and activities of diversification assessment; efficient strategies for foreign risk investments business; its conduct to plans or conducts Company ties, in large companies the states where the organizing the with cooperation public authori organizations; competent the with market on into the a of risks consalting entering new against industrial accidents and illnesses. and accidents industrial against insurance of agreements and agreements insurance medical of voluntary of conclusion by means ees, life their and protection health employ of the of level Company’s motivation and level the of the protection Increase social mechanism; insurance the of expense the at events adverse other and accidents of and quences technogenic natural conse- the of liquidation the for designated resources financial the Company’s Minimizing settlement. claim of process the of optimization and ments agree insurance of quality the improving of means by events unforeseen other and parties third of actions disasters, natural ures, fail technological of result a as Company to caused damage of reduction and loss for of reimbursement guarantees reliable Ensuring changes. their of dynamics the and factors technological and political economic, of forecast global a on based activity of areas strategic the in tions ------the following types: property insurance “against “against insurance property types: following the V owners. vehicle of liability public of insurance mandatory structures, engineering hydraulic operating organizations of liability of public insurance facilities, industrial ardous haz operating of organizations liability public of insurance includes: insurance Obligatory basis. voluntary a on and legislation) the of requirements to the (according basis obligatory an on Company both the by out carried is Insurance oluntary insurance is carried out according to according out is carried insurance oluntary - ing to the Company’s high standards and requirements. and standards high Company’s the to ing accord insured also were assets foreign of majority The was done. of companies Group UES RAO INTER JSC the of protection ance of insur increase and structuring, ardization, stand the with In 2010 in connection work the vehicles. transport of some insurance of personnel, insurance cal medi accidents, against employees vehicles, breakdown, against equipment and risks” all - - - -
103 ANNUAL REPORT JSC RAO UES / 2010 PROFIT DISTRIBUTION 9 AND DIVIDEND POLICY In accordance with the Charter the Company Company the Charter the with accordance In decision. such of date the after days (60) sixty within of the Shareholders but Company not later than of Meeting General the by specified term the within paid are Dividends shares. ordinary on pany not may to take a pay decision dividends Com the of Shareholders of Meeting General of Company. The the of Shareholders Meeting of (class)each category is taken by the General shares on payment of form the and dividends of amount the on decisions including dends divi of (declaration) payment the on Decision period. respective may be taken the three within following months year fiscal (or) and whole year the fiscal the of of the first quarter, six and months nine months on based the results (declaration) of dividends the year.fiscal whole on the Decisions payment (or)year and of the fiscal months nine months, six quarter, first the of results the on based shares placed on dividends of payment the on (declare) decisions take to right the has - - that dividends on privileged shares of JSC IN of JSC shares privileged on dividends that stipulate Regulations 41). The No. 03.05.2011 of (Minutes UES RAO INTER JSC of rectors Di of Board the by approved were UES RAO INTER JSC of Policy Dividend on Regulations full. in Company the by paid were dividends The share. ordinary 1 per rubles to 0.000056758 equivalent is which of 2 341 750.24 rubles, amount the in 2006 for took a of to decision 08.06.2007 pay dividends ity for the of Meeting General 2006 Shareholders to According the results of the activ Company’s dividends. of payment and accrual the on decisions take not did Company the 2009 2007,2008, 2005, 2004, 2003, 2002, In purpose. this for formed previously Company of the funds special from the may paid be also on preferred shares types of Dividends certain pany’s profit after tax (net profit of the Company). Source of the is payment of the dividends Com - - - - tors on 24.12.2010. on tors ment bystrategy approved the Board of Direc develop Company’s the as well as UES, RAO INTER JSC of Policy Dividend on Regulations for Company, the set gets by shareholders the tar the with accordance in determined be will In the Policy future the of Dividend the Company UES. RAO of of Meeting General JSC Shareholders INTER the by discussed be will 2010 of results the of basis the on payment dividends of matter The purpose. this for formed funds special from paid be shall account) into will of be revaluation investments taken financial the of amount the case this (in UES RAO TER - - -
105 ANNUAL REPORT JSC RAO UES / 2010 10ANNEX Deputy Director of Rosatom State Corporation Corporate F Corporate Corporation State Rosatom of Director Deputy Committee Audit UES RAO INTER JSC the of Chairman Rus JSC of administration audit operational of chief The Committee: Audit UES RAO INTER JSC the of Members report. annual the in contained data the of ability reli the confirms also and true are respects material 2010 all in year the for statements financial Company’s the that notes Commission Audit The 2010. year the for Company the of 31.12.2010, at as performance liabilities financial and the and assets of tion distor tolead could a which significant activities, of the Company’s performance of b) the financial in the reflection we have not noted deficiencies requirements; internal or external significant with non-compliance apparent of cases a) observed havenot we that: reports Commission Audit the results audit the on Based deed. attached the in forth set are examination of results overall The conclusions. and of findings for preparation the basis a reasonable provide documents and information data, obtained the Commission, to Audit the According verification. for submitted documents and data information, all of analysis sufficient and objective most the on based are audit the of conclusions the and objectives basic following the that assurance reasonable audits conducting by obtain to was Commission Audit the of Responsibility F Russian the the of tions of regula the requirements other and procedures accounting with compliance and reporting financial of reliable for preparation the Responsibility F Russian the the of tions regula with and complied of the order followed accounting the Company activities and economic of financial b) are statements, reliable, in the implementation financial the in reflected as activity, Company’s the of indicators financial keya) that ensure to were audit the of objectives main The 2010. year the for Company the of activities economic and financial the of examination the out carried accountant Chief Directors of Board UES RAO INTER JSC the of Chairman report: the understood and Read Unit Audit Internal UES RAO INTER JSC of H H Deputy H 26.12.1995 (hereinafter UES № 208- RAO INTER JSC of Charter the with accordance In 2011 20, April ead of Directorate for generating assets audit of the Internal audit, controlling and risk management Department management risk and controlling audit, Internal the of audit assets generating for Directorate of ead unit internal management risk and controlling audit, internal UES RAO INTER JSC of Department the of ead ead of Internal Audit Department, Audit Internal of ead F Z, and its own decision Z, № and its 1 own decision from from 2011the 22.03. 22.03.2011,period during Committee Audit the to Company’s 20.4.2011 INTER RAOUESAUDITCOMMISSION REPORT OFTHEJOINTSTOCKCOMPANY ederation rests with its leadership. its with rests ederation ederation. H ydro Internal Audit Department, Department, Audit Internal ydro Treasury inance — the Company), Russian Russian Company), the — F ederal Law on Joint Stock Companies dated dated Companies Stock Joint on Law ederal I. I. Chygyryn I. I. E. G. Ryzhkova Ryzhkova E. G. A. O. Chesnokova A. Yu.B. Kovalchuk E. F A. M. Zakharov M. A. . Ivanova . Ivanova Moscow - - - -
107 ANNUAL REPORT JSC RAO UES / 2010 108 ANNUAL REPORT JSC RAO UES / 2010 www.interrao.ru/investors/funds/. www.interrao.ru/investors/funds/. interrao.ru in section www. website RAO UES corporate INTER JSC refers to note, explanatory which is on available 1, 2010.January since same The is applicable report auditor’s This Company. the of Report not the in documents included the given Annual in note information the are explanatory related to and statements” accounting “attached the to references all therefore Report, Annual given the in included not are statements accounting mentioned The follows. as presented is 2010 31, December 1, 2010till January from period RAO UES (hereinafter audit of INTER Company the Open Joint-Stock statements accounting the of results the on The auditor’s by report Ernst & Young LLC based F inancial Information http:// Information inancial
— the Company) for the INDEPENDENT AUDITOR’SREPORT Location: 115035, Russia, Moscow, Sadovnicheskaya Nab. 77, Nab. 1 bld. Sadovnicheskaya Moscow, 115035, Russia, Location: 10277397707203 number registration state Principal Young” and “Ernst LLC Name: information Auditor 7, 123610 Russia entrance Moscow, Nab., Krasnopresnenskaya Location:12 1, 2002). November on District) Centralny for 2320 section ritorial tion entry number 10201017420. number entry tion registra principal the under organization audit and of auditors of register copy the into check the is and included of No. NP 3028, ACR under organizations audit and auditors of register the in of registered is Young” Chamber and “Audit “Ernst LLC ACR). (NP partnership Russia” non-profit of member is Young” and “Ernst LLC I of Inspectorate Inter-district by issued 1022302933630 No. under entity Entity of Legal legal a Registration of of State (Certificate Entities legal of Register State Unified the in registration on Data UES” RAO “INTER JSC Name: audit under entity the of Information UES” RAO “INTER JSC of To Shareholders the OKPO 59002827 OKPO www.ey.com F 9700 755 + 7(495) 9700 705 Tel.: +7(495) Russia 115035, 1, Moscow, bld. Nab., Sadovnicheskaya 77 &Young” “Ernst LLC ax: + 7 (495) 755 9701 755 +7(495) ax: auditor’s report auditor’s F Independent Independent TS of Russia No. 7 for the Krasnodar Area (Ter Area Krasnodar the for 7 No. Russia of TS - - with the accounting statement regulations established in the the Russian established regulations statement the with accounting and cash flow in 2010 operations in and of business accordance results its financial as ing of RAO of 31,UES” respects in JSC “INTER all material December 2010, the give a statements true and fair stand view the In of accounting our financial opinion, Opinion opinion. our of basis expression for proper and sufficient provides evidence audit obtained the that believe We awhole. as taken presentation ments of state validity of accounting the and assessment and policies by management, the obtained estimates accounting applied the of adequacy of assessment the audit adequate choose to The also includes audit view but not efficiency. control to the procedures internal assess the with statements accounting the of reliability and preparation secures which system, control internal the considers auditor the risk of the specified statements by or fraud error. of caused assessment In the course whether accounting the in misstatement material based of risk of judgment out of assessment the on matter subject a is procedures audit of state Selection accounting the ments. in disclosures and amounts the supporting evidence audit of obtaining for intended procedures audit of performance the includes audit The are free statements of misstatement. the material accounting whether about surance as reasonable to obtain audit the perform and we that plan and principles, ethical applicable with the require compliance standards Those Standards. Auditing tional with We our in audit accordance conducted statements, these of reliability audit. the our on based on opinion an express to is responsibility Our responsibility Auditor’s error. or fraud by caused whether free misstatement, from material statements of for accounting required preparation in the the Russian established regulations statements accounting with in accordance statements accounting of the specified and reliability of for RAO preparation JSC UES” “INTER is Management responsible statements accounting the for audit under entity the of Responsibility to and notes of them. and loss, profit and statement sheet to the balance plements sup other 2010, year the for statement flow cash equity, in changes of statement of as sheet 31,the of balance consisting December 2010, and profit statement, loss of RAO JSC statements UES” “INTER accounting We have the accompanying audited F ederation, for system control the internal ederation, F ederal Auditing Standards and Interna Standards Auditing ederal F ederation. ------
109 ANNUAL REPORT JSC RAO UES / 2010 110 ANNUAL REPORT JSC RAO UES / 2010 “Ernst and Young”, Limited Liability Company, Moscow Moscow Company, Liability Young”, and Limited “Ernst Seal: 14, 2010 March Young” and “Ernst LLC Partner D.E. Lobachev F Russian the the in practiced methods and procedures principles, of aware accounting are not who persons, the for intended Russian the the than other subdivisions and political other in the countries applicable generally or practices principles the with accounting in accordance and performance standing of financial presentation for intended not are statements accounting attached The 1, 2009. January of as of assets fixed result of of ablock of revaluation the reflection the concerning opinion modified their expressing 2010, 22, De on on 31, March ended opinion cember their were who by issued audited year 2009 auditors, other the for UES” RAO “INTER JSC of statements accounting The Miscellaneous F ederation. Respectively the attached accounting statements are not are not statements accounting attached the Respectively ederation. ederation. - audited complete set of Russian statements. Russian of set complete audited which are given below. You may along with rewiew version the shortened in changes equity, cash flow and statement annex to the sheet, balance of version of the sheet, the statement profit and balance statement, loss is not in included in this document full and does not cover the shortened which statements, accounting set of for Russian complete the is issued by Ernst & Young LLC. Presented in report auditors’ the section preceding UES as a of part set complete audited statements of accounting Russian below is of by presented The information JSC management RAO INTER AS OF31.12.2010 OF JSCINTERRAOUES ACCOUNTING STATEMENTS Information http://www.interrao.ru/investors/funds/. Information F section in interrao.ru www. website corporate Company’s the on found be may statements accounting the to note explanatory The inancial inancial
111 ANNUAL REPORT JSC RAO UES / 2010 112 ANNUAL REPORT JSC RAO UES / 2010 Location (address) Location Unit: status/ownership Legal Type activity of Number Identification Taxpayer Organization BALANCE TOTAL forsection II Funds Short-term investments other debtors advances paid buyers andcustomers the reportingdate),including Accounts receivable(paymentsareexpectedmorethanduring12monthafter including otherdebtors the reportingdate) Accounts receivable(paymentsareexpectedmorethanduring12monthafter Intangible assets I. NONCURRENTASSETS Value-added taxonacquiredvalues deferred expenses raw materials,suppliesandothersimilarvalues including: Stock II. CURRENTASSETS TOTAL forsectionI Other non-currentassets Deferred non-currentassets Long-term investments Interest bearinginvestmentsintotangibleproperty Incomplete construction Fixed assets ASSET
12 ruble thousand property Company/private Joint-Stock Open power electric of production and resale UES RAO INTER Company Joint-Stock Open Krasnopresnenskaya Naberezhnaya., as of December 31, 2010 December of as BALANCE SHEET BALANCE Entrance Index code 300 290 260 250 243 242 241 240 231 230 220 216 211 210 190 150 145 140 135 130 120 110 7, Moscow, As ofthebeginningreportingyear 123610, Russia 103,473,796 No. 67nNo. 22.07.2003 of the R the by Order to the Appendix 27,303,595 15,959,097 76,170,201 19,086,442 16,512,908 38,849,524 Date (yy/mm/dd) Form No.1acc.toOKUD Dispatch (adoption)date Approval date acc. toOKEI acc. toOKOPF/OKS acc. toOKVED INN acc. toOKPO 3,959,142 5,212,667 6,934,936 5,092,133 3,932,028 1,580,416 830,264 830,264 653,990 142,809 545,626 688,435 134,903 Ministry of F of F Ministry 6,008 — As oftheendreportingperiod inance 2010 40.10.11; 51.56.4 47 2320109650 33741102 0710001 CODES 384 12 135,276,836 111,694,411 23,582,395 11,362,312 46,454,407 22,490,528 39,431,218 4,062,822 4,020,736 4,031,780 2,217,901 5,112,631 2,274,818 2,274,818 1,078,983 2,826,205 41 125,573 657,151 782,724 470,704 31 17,846 3,533 March 14, 2011 March H Securing obligationsandpaymentsissued Securing obligationsandpaymentsreceived including leasing Leased assets Reference onthevaluesrecordedoff-balancesheetaccounts BALANCE TOTAL forsectionV target financing payments toshareholdersfortheadditionalissue including: Other currentliabilities Provisions forfutureexpenses advances received other creditors arrears oftaxesandduties debt tothestateoff-budgetfunds payable tostaffofthecompany Authorized capital III. CAPITALANDRESERVES suppliers andcontractors including: Borrowings andcredits V. CURRENTLIABILITIES Deferred taxliabilities Account payable TOTAL forsectionIV Other long-termliabilities Borrowings andcredits IV. LONG-TERMLIABILITIES TOTAL forsectionIII retained earningsfromthisyear retained earningsfrompreviousyears Retained earnings(uncoveredloss),including: reserves formedincompliancewithlaws including: Reserve capital Additional capital LIABILITIES ead B.Yu.Kovalchuk Index code 960 950 911 910 700 690 662 661 660 650 626 625 624 623 622 621 490 620 610 590 520 515 510 470 431 430 420 410 Accountant Chief As ofthebeginningreportingyear A.O.Chesnokova 64,791,976 31,771,908 21,884,688 20,392,221 63,897,300 3,086,254 5,104,123 1,659,633 6,909,912 2,807,205 3,605,961 3,303,951 9,402,278 883,072 229,737 488,577 484,942 161,118 161,118 53,303 26,517 700 622 — — — — — As oftheendreportingperiod (19,953,277) (19,657,704) 103,473,796 41,583,600 17,847,310 22,470,362 14,429,645 14,429,645 92,376,727 20,429,747 19,731,635 27,881,558 81,287,328 2,734,141 3,592,350 2,864,565 2,919,632 2,704,427 6,811,969 615,434 567,956 406,080 660,792 698,112 161,118 161,118 6,258 — — —
113 ANNUAL REPORT JSC RAO UES / 2010 114 ANNUAL REPORT JSC RAO UES / 2010 Unit: status/ownership Legal Type activity of Number Identification Taxpayer Organization Other incomes Income fromparticipationinotherorganizations Interest due Interest income Other incomeandexpenses Profit (loss)onsales Management expenses Selling expenses Gross profit other sale ofelectricpowerwithoutdeliverytothecustomsterritoryRussia import ofelectricpower production ofelectricity(power) purchase ofelectricity(power)inthedomesticmarket Prime costofsoldgoods,output,worksandservices other sale ofelectricpowerwithoutdeliverytothecustomsterritoryRussia sale ofelectricity(power)inthedomesticmarket electric powerexport ties andsimilarobligatorypayments),including: Revenues (net)fromsaleofgoods,products,worksandservices(netvalueaddedtax,excisedu- Income andexpensesfromordinaryactivities name Index ruble thousand property Company/private Joint-Stock Open power electric of production and resale UES RAO INTER Company Joint-Stock Open over the period from January 1 to December 31, 2010 1to December January from period the over PROFIT AND LOSS STATEMENT LOSS AND PROFIT code 090 080 070 060 050 040 030 029 025 024 023 022 021 020 014 013 012 011 010 For theaccountingperiod by 18.09.2006) F of Ministry R by the 67n Order of 22.07.2003 of (version to the Order by the R by the Order to the Appendix Date (yy/mm/dd) Form No.1acc.toOKUD acc. toOKEI acc. toOKOPF/OKS acc. toOKVED INN acc. toOKPO (11,789,018) (34,622,258) (49,592,567) (2,464,042) (3,513,825) (5,139,517) (1,204,621) (1,976,670) 60,097,025 11,800,745 30,765,097 29,016,605 61,393,312 1,716,199 3,147,403 1,611,610 inance No. 115n No. inance d/d. 904,432 — — — Ministry of F of F Ministry 2010 40.10.11; 51.56.4 47 Same periodlastyear 2320109650 33741102 CODES 710002 384 12 (10,740,378) (25,396,168) (39,103,164) (2,486,214) (1,948,877) (3,634,203) (1,944,249) 68,499,482 23,502,049 22,255,710 46,831,335 inance No. No. inance (702,547) (319,822) 1,304,579 2,145,091 7,728,171 41 172,255 567,712 505,864 31 F ITEMIZED PROFITSANDLOSSES Diluted earnings(loss)pershare(kop) Basic earnings(loss)pershare(kop) Diluted earnings(loss)pershare(kop) Basic earnings(loss)pershare(kop) Fixed taxliabilities FOR REERENCE Net income(loss)fortheaccountingperiod Other similarpayments Current profittax Deferred taxliabilities Deferred taxassets Profit (loss)beforetaxes March 14, 2011 March H tion ofaction Relief ofaccountsreceivableandpayablewithexpiredperiodlimita- Foreign exchangedifferenceontransactionsinforeigncurrency Indemnification causedbynon-fulfilmentorimproperfulfilmentofobligations Profit (loss)ofpreviousyears their recovery Fines, forfeitsandpenaltiesrecognizedorawardedbyacourt(arbitrationcourt)on Other expenses name Index name Index ead B.Yu.Kovalchuk code 230 220 210 250 240 Accountant Chief 3,042,449 code 126,824 200 190 151 150 142 141 140 100 202 201 202 201 11,152 22,482 For theaccountingperiod profit For theaccountingperiod A.O.Chesnokova (3,440,108) (235,803) (83,887) (807) (60,082,250) loss (696,880) (174,835) 2,704,427 3,318,767 (78,426) 335,801 53,047 0,102 0,102 0,119 0,119 8,678,882 29,087 29,866 profit Same periodlastyear Same periodlastyear — (10,267,483) (70,738,142) (1,248,461) (1,102,949) (140,045) (22,208) (62,919) (53,175) (79,449) 337,634 (0,053) (0,053) 50,031 0,083 0,083 loss —
115 ANNUAL REPORT JSC RAO UES / 2010 116 ANNUAL REPORT JSC RAO UES / 2010 Unit: status/ownership Legal Type activity of Number Identification Taxpayer Organization I. CHANGEOFCAPITAL Changes inaccountingpolicy (previous year) 2009 Balance asofDecember31thepreviousyear Other Reduction incapitalvaluedueto: Net profit Results offixedassetsrevaluation Balance asofJanuary1thepreviousyear Changes inaccountingpolicy (previous year) 2009 share denominationdecrease legal entityreorganization Increase incapitalvaluedueto: Realized earlierevaluatedfixedassets Deductions tothereservefund Dividends previous Balance asofDecember31theyearpreceding Index name rubles thousand property Company/private Joint-Stock Open power electric of production and resale UES RAO INTER Company Joint-Stock Open code 010 080 079 075 030 025 020 076 071 070 060 050 040 STATEMENT OF CHANGES IN EQUITY IN STATEMENT CHANGES OF Х Authorized capital (163,514,085) 227,411,385 227,411,385 63,897,300 for the year 2010 year the for — — — Х Х Х Х Х Х Х Х Additional capital 18,310,338 18,310,388 20,392,221 2,081,873 (40) — — Х X X X X X X Х Reserve capital No. 67nNo. 22.07.2003 of R by the Order to the Appendix Date (yy/mm/dd) Form No.1acc.toOKUD acc. toOKEI acc. toOKOPF/OKS acc. toOKVED INN acc. toOKPO 104,705 104,705 161,118 56,413 — — — Х X X X X X X Х (uncovered loss) (181,929,167) (181,875,945) (19,658,663) Retained profit 163,514,085 (1,248,461) (56,413) Ministry of F of F Ministry 8,033 2010 (2) 40 40.10.11; 51.56.4 — — Х X X 47 2320109650 — 33741102 CODES 710002 384 12 (1,248,461) 63,897,311 63,950,533 64,791,976 inance inance 2,089,906 41 31 53222 Total (2) — — — — — — Х II. RESERVES data fortheaccountingyear data forthepreviousyear (name ofreserve) Reserve forcoststobeincurred data fortheaccountingyear data forthepreviousyear (name ofreserve) Reserve fordoubtfuldebts data fortheaccountingyear data forthepreviousyear (name ofreserve) Reserve forfinancialinvestmentslossinvalue data fortheaccountingyear data forthepreviousyear (name ofreserve) Reserve fortangibleslossinvalue Estimated reserves: data fortheaccountingyear data forthepreviousyear (name ofreserve) reserve fund laws: Balance asofDecember31theaccountingyear Other share denominationdecrease Reduction incapitalvaluedueto: additional sharesissue Increase incapitalvaluedueto: Realized earlierevaluatedfixedassets Deductions tothereservefund Dividends Net profit Results offixedassetsrevaluation Reserves formedincompliancewith Balance asofJanuary1theaccountingyear Index Index name name code 180 170 161 160 151 150 140 130 120 110 101 100 Authorized capital 81287328 17,390,028 63,897,300 code 199 198 197 196 195 194 193 192 191 190 — — — Х Х Х Х Х Х Additional capital 27,881,558 17,390,028 20,392,221 261,294 474,503 161,118 104,705 Balance 14,479 1,093 (959) 540 — — — — — X X X X X X Reserve capital 7,490,296 Received 567,956 621,267 261,294 190,689 474,503 161,118 161,118 13,939 56,413 5,146 — — — — — X X X X X X (uncovered loss) (16,953,277) (19,658,663) Retained profit (71,669) (12,645) 2,704,427 (1,093) Used 959 — — — — — — — — — — — — — — X X 92,376,727 64,791,976 2,704,427 810,892 567,956 261,294 665,192 474,503 161,118 161,118 Balance 14,479 6,980 Total — — — — — — — — — — Х
117 ANNUAL REPORT JSC RAO UES / 2010 118 ANNUAL REPORT JSC RAO UES / 2010 Proceeds ofthesecuritiessaleandother financialinvestments Proceeds ofthefixedassetsandother non-currentassetssale Cash flowsfrominvestingactivities Net cashfromoperatingactivities other expenses currency purchase taxes anddutiespayment payments fordividends,interest remuneration oflabour payment ofpurchasedgoods,worksandservices,rawmaterialsother current assets Funds allocatedfor: Other income Proceeds ofthecurrencysale Funds receivedfromcustomers,clients Cash flowfromoperatingactivities Unit: status/ownership Legal Type activity of Number Identification Taxpayer Organization Demand balanceasofthebeginningyear March 14, 2011 March H REFERENCES 1) Netassets name Index name Index ead B.Yu.Kovalchuk rubles thousand property Company/private Joint-Stock Open power electric of production and resale UES RAO INTER Company Joint-Stock Open CASH FLOW STATEMENTCASH code 200 for the year 2010 year the for Accountant Chief Balance asofthebeginning code 220 210 200 190 180 170 160 150 140 130 120 110 010 of accountingyear 64,791,976 For theaccountingperiod A.O.Chesnokova Date (yy/mm/dd) Form No.1acc.toOKUD acc. toOKEI acc. toOKOPF/OKS acc. toOKVED INN acc. toOKPO
(33,064,170) (60,905,740) (1,897,411) (1,628,763) (2,405,384) (2,208,925) 20,662,637 32,766,565 3,572,477 6,805,064 6,111,241 3,862,886 3,653 2010 40.10.11; 51.56.4 Same periodlastyear 47 of accountingperiod 2320109650 33741102 Balance oftheend CODES 710002 384 12 (46,196,789) (47,083,111) (1,836,398) (2,451,661) (1,457,498) 92,376,727 10,236,117 46,054,207 50,377,011 (681,726) 3,248,909 4,505,308 41 (27,056) 31 2,606
March 14, 2011 March H Magnitude oftheimpactfromchangeinforeigncurrencyratesagainstrouble Demand balanceattheendofaccountingperiod Net increase(decrease)incashandequivalents Net cashfromfinancialactivities Repayment offinanceleaseliabilities Repayment ofloansandcredits(withoutinterests) Income fromsharesissuing Income fromloansandcreditstootherorganizations Cash flowfromthefinancialactivities Net cashfromtheinvestingactivities Acquisition offixedassetsfromthetrustfunding Deposits withcreditinstitutions Loans giventootherentities Acquisition ofsecuritiesandotherfinancialinvestments Acquisition offixedassets,profitableinvestmenteintangibleandintangibleassets Acquisition ofsubsidiaries Reimbursement ofdepositswithcreditinstitutions Reimbursement ofdeposits Receipt ofearmarkedfundingforconstruction Proceeds fromrepaymentofloanstootherorganizations,purchasereceivables Interests received Dividends received name Index ead B.Yu.Kovalchuk Accountant Chief code 310 300 290 280 270 260 250 240 230 410 400 390 380 370 360 351 350 340 330 320 For theaccountingperiod A.O.Chesnokova (10,076,179) (41,123,625) (17,667,656) (22,750,612) (83,608,000) (3,978,001) (2,172,612) (5,029,874) 85,158,000 11,039,390 19,378,056 24,880,324 12,852,263 (330,135) (686,875) 5,027,367 4,062,807 877,224 469,408 199,921 Same periodlastyear (339,789,136) (10,203,288) (17,603,627) 342,889,136 (9,014,600) (6,023,540) (4,547,667) (9,848,254) (4,513,052) 27,274,862 (246,548) (546,166) (342,091) 5,408,215 4,656,427 9,329,144 3,959,142 901,526 149,002 —
119 ANNUAL REPORT JSC RAO UES / 2010 120 ANNUAL REPORT JSC RAO UES / 2010 Unit: status/ownership Legal Type activity of Number Identification Taxpayer Organization FIXED ASSETS Buildings erty) Intellectual property(exclusiverightsforintellectualprop- of goods owner fortrademarkandservicemark,appellationoforigin including: softwareandtrademark Total Land andnaturalresources Other fixedassets Production andhouseholdequipment Vehicles Machinery andequipment Structures andtransmissiondevices copyright holderforsoftware,databases including: INTANGIBLE ASSETS Amortization ofintangibleassets —total Index Index name name Index name ruble thousand property Company/private Joint-Stock Open power electric of production and resale UES RAO INTER Company Joint-Stock Open code 070 110 100 090 085 080 075 code 014 012 011 010 ANNEX TO BALANCE SHEET BALANCE TO ANNEX Availability atthebeginning of thereportingyear for the year 2010 year the for Availability atthebeginning 10,568,697 30,290,807 49,302,396 8,223,762 127,642 84,960 of thereportingyear 5,928 600 code 051 050 8,376 8,521 145 — 1,451,131 1,717,783 3,476,761
Received 249,423 41,047 10,127 7,089 As atthebeginningof 161 Received nance No. 115n No. nance 18.09.2006) of R by the Order of (version 67nNo. 22.07.2003 of R by the Order to the Appendix Date (yy/mm/dd) Form No.1acc.toOKUD acc. toOKEI acc. toOKOPF/OKS acc. toOKVED INN acc. toOKPO — — 86 86 reporting year (10,625) (22,258) 2,513 2,513 (9,303) (1,962) Retired Retired (368) (-) — — — — — — As attheendofreporting Ministry of F of F Ministry end ofthereportingperiod 2010 40.10.11; 51.56.4 Ministry of F of F Ministry of thereportingperiod 47 Availability attheend 2320109650 33741102 CODES 710002 Availability atthe 384 12 10,818,120 31,732,635 52 756899 inance inance 9,939,583 41 127,144 31 91 681 41 647 period 6 089 5,074 5,074 8,376 8,607 i - 231 —
INTEREST-BEARING INVESTMENTSINTOTANGIBLEPROPERTY Amortization ofinterest-bearinginvestmentsintotangibleproperty Transfer oflivingquartersintorent Total partial dismantlement Change offixedassetsvalueasaresultcompletion,additionalequipping,reconstructionor depreciation initial (replacement)cost The resultoffixedassetsrevaluation Real estatereceivedinoperationandbeingprocessofstateregistration other vehicles, equipmentandmachinery buildings andstructures including: Rented fixedassets Fixed assetstransferredforconservation other vehicles, equipmentandmachinery buildings andstructures including: other vehicles, equipmentandmachinery Leased fixedassets —total buildings andstructures including: Amortization ofintangibleassets —total Index Index name Index name code 210 200 Availability atthebeginning of thereportingyear code 211 As at the beginning of the reporting year — — code 180 172 171 165 164 163 162 161 143 160 153 152 151 150 142 141 140 Received 18,408 18,408 of thereportingyear As atthebeginning 10,452,872 1,371,101 1,659,633 2,196,404 1,152,236 8,417,644 1,978,521 314,996 740,875 883,106 166,607 983,857 35,652 56,707 — 1,772 Retired — — - -
As attheendofreportingperiod Availability attheendof of thereportingperiod reporting period As attheend 10,673,806 13,325,681 1,931,549 2,771,311 3,592,350 3,092,457 1,628,435 1,780,627 2,583,086 986,099 817,512 147,960 18,408 18,408 68,789 3,527 4,232 562 - -
121 ANNUAL REPORT JSC RAO UES / 2010 122 ANNUAL REPORT JSC RAO UES / 2010 Total companies — total Deposits intoauthorized(share)capitalsofother Reliability enhancementofheat-recoveryboiler including: EXPENDITURE ONRESEARCH,DEVELOPMENTANDENGINEERINGWORKS of assessment value: changeofvalueresultingfromadjustment For financialinvestmentswithcurrentmarket For reference. other organizations,total — investmentsinauthorized(share)capitalsof current marketvalue: Of thetotalamountoffinancialinvestmentswith Total Other Deposits Loans granted including debtsecurities(promissorynotes) Securities ofothercompanies —total including subsidiariesandassociatedcompanies FINANCIAL INVESTMENTS Cost ofuncompletedresearch,developmentandengineeringworks results, classifiedas‘otherexpenses’ Amount ofexpensesforresearch,developmentandengineeringworksthatdidnotyieldpositive name Type ofworks name Index code 542 541 540 535 530 525 516 515 511 510 code 311 310 Availability atthebeginning the accountingyear At thebeginningof Long-term of theaccountingyear 19,086,442 11,581,648 11,581,648 2,179,974 5,241,781 83,039 — — — — 1,111 — accounting period At theendof 46,454,407 39,016,881 39,016,881 22,878,645 1,446,812, 2,196,657 4,882,654 code 330 358,215 code 320 Received 4,263 5,763 — — As atthebeginningof As atthebeginningof the accountingyear the accountingyear At thebeginningof Short-term accounting year (1,319) Written off 5,212,667 3,639,611 1,550,000 136,735 23,056 — — — — — — — — Availability attheendof accounting period At theendof As attheendof As attheendof accounting period accounting period accounting period 4,020,736, 3,102,650, 918,086, 918,086, 150,379 4,263 5,555 — — — — — — — short-term, total Accounts receivable Total earmarked funding loans credits including: long-term, total other earmarked funding provisions forfutureexpenses loans credits taxes andleviessettlements advances received settlements withsuppliersandcontractors including: short-term, total Accounts payable other advances issued settlements withbuyersandcustomers including: long-term, total other advances issued settlements withbuyersandcustomers including: ACCOUNTS RECEIVABLEANDPAYABLE name Index code 620 613 612 611 610 660 653 652 651 650 647 646 645 645 644 643 642 641 640 623 622 621 Balance atthebeginningof the accountingyear 15,959,097 38,196,878 21,884,688 31,286,966 6,934,936 5,092,133 3,932,028 9,402,278 3,303,951 2,807,205 6,909,912 830,264 515,716 229,737 830,264 53,303 — — — — — — Balance attheendof accounting period 11,362,312 42,201,997 19,731,635 19,731,635 22,470,362 14,429,645 4,031,780 2,217,901 5,112,631 2,274,818 2,919,632 2,870,823 2,274,818 660,792 406,080 567,956 615,434 — — — — —
123 ANNUAL REPORT JSC RAO UES / 2010 124 ANNUAL REPORT JSC RAO UES / 2010 Securities Received —total Material expenditures March 14, 2011 March H other securities andotherfinancialinvestments among it: property transferredtopledge liabilities forforwarddealscurrencypurchase including: Issued —total other securities andotherfinancialinvestments fixed assetsobjects among it: property inpledge liabilities forforwarddealscurrencypurchase including: provisions forfutureexpenses deferred expenditures work-in-process Change inbalances(increase[+],reduction[-]): Total expenditureselements Other Depreciation Fringe benefitexpenses Expenditures forremunerationoflabour EXPENDITURES ONORDINARYACTIVITIES(BYEXPENDITUREELEMENTS) Index name name Index ead B.Yu.Kovalchuk Accountant Chief code code 765 760 750 740 730 720 710 827 826 825 821 820 809 807 806 805 801 800 767 766 Balance atthebeginningof For theaccountingperiod A.O.Chesnokova accounting year 58,245,909 43,320,409 3,086,254, 3,850,386, 8,676,736 2,805,638 3,211,799 3,086,254 1,085,089 1,253,737 5,104,123 (17,236) 231,327 168,648 — — — — — — Balance attheendof Same periodlastyear accounting period 44,686,244 33,712,164 26,735,985 13,632,588 41,583,600 14,131,608 17,847,310 6,365,328 2,794,220 1,623,886 1,215,027 1,215,027 2,461,965 1,085,089 1,253,737 190,646 168,648 35,961 — — Observance of the Corporate Code of conduct. doc.” conduct. of Code Corporate the of Observance Annex “The see files of Company the port Re Annual of the version electronic (In the format. in electronic Company of the Report Annual of the version toprinted the attached be shall UES RAO INTER JSC by conduct of Code Corporate the of observance about information 2010 and for transactions party interested and major of List Conduct Code in Annual Reports of Joint-Stock Companies” Joint-Stock of Reports Annual in Code Conduct and Composition the Concerning Recommendations Methodological “On The information was prepared in accordance with Instruction № 03-849/r of the № 03-849/r Instruction with in accordance was prepared information The 6 5 4 3 2 1 General meetingofShareholders № joint-stock companyauditor. tor, membersofManagementBoard, layauditorsandtheissueaboutapprovalof considering issuesaboutelectionofmembers ofBoardDirectors,GeneralDirec Obligatory presenceofcandidatesat theGeneralMeetingofShareholderswhile General MeetingofShareholders. of Directors,auditorsandthejoint-stockcompanyauditorareobligedtoattend the quirement that General Director, members of Management Board, members of Board Availability intheCharterorinternaldocumentsofajointstockcompany there- aforementioned rights. on adepoaccount,statementfromtheaccountissufficientforexercising the listed intheshareregistrysystem,andcaseofholdingone’srightsfor shares provision ofanextractfromtheshareholdersregister,ifone’srightsforshares are Shareholders ordemandthecallingofaGeneralMeeting without Opportunity forshareholdertoputanissueontheagendaofGeneralMeeting of Shareholders, throughelectroniccommunicationfacilitiesincludingInternet. als) subjecttosubmissionduringthetimeofpreparationforGeneralMeeting Opportunity forshareholderstobecomeacquaintedwiththeinformation(materi acceptance ofballotpapers. holders takingplaceintheformofabsenteevoting,uptodatetermination the GeneralMeetingofShareholders,andincaseShare- notification abouttheGeneralMeetingofShareholdersanduptoconclusion to participateintheGeneralMeetingofShareholdersstartingfromdate Opportunity forshareholderstobecomeacquaintedwiththelistofpersonsentitled tion providesforalongerperiod. 30 dayspriortoitsdatenotwithstandingtheissuesonagenda,unlesslegisla- Notification toshareholdersaboutaGeneralMeetingofShareholdersnotlaterthan Provision oftheCorporateConductCode BY JSCINTERRAOUES OF THECORPORATECODECONDUCT INFORMATION ABOUTOBSERVANCE — major and interested party transactions for 2010. doc.” transactions “ and Annex The party interested and — major - - F Observed Not observed Partially observed Observed Observed Observed observed Observed ornot orm of Submission of Information about Observance of the Corporate Corporate of the Observance about of Information of Submission orm F ederal Commission of the Securities Market dated April 30, 2003 2003 30, April dated Market of Securities the Commission ederal Comments presence attheGeneralMeetingofShareholders. internal documentsoftheCompanycovering theirobligatory Fulfilled inpractice.Therearenoprovisions intheCharterand shareholders’ questions." General MeetingofShareholdersand authorizesthemtoanswer Internal AuditCommissionandtheCompany auditoratthe presence ofmembersBoardDirectors,executivebodies, Conduct Code:"AsfaraspossibletheCompanyprovides In accordancewithparagraph3ofclause5.2.2theCorporate shareholder’s rights. statement fromthedepoaccountissufficientforexercising the caseofholdingone’srightsforsharesinadepoaccount, independently theconfirmationinshareholdersregister.In the Companycoveringobligationoftorequire There arenoprovisionsintheCharterandinternaldocumentsof ers). for themeetingheldinformofjointpresencesharehold- to thedateofGeneralMeetingShareholders...”(validonly Company isontheagenda —notlaterthan30(thirty)daysprior the GeneralMeetingofShareholders;ifreorganization Internet not later than 20 (twenty) days, and in the case of holding Shareholders isplacedonthewebsiteofCompany (materials) relatingtotheagendaofGeneralMeeting In accordancewithclause11.7oftheCharter“...Information at leastonepercentofvotes. pany attherequestofpersonsincludedinlistandhaving General MeetingofShareholdersshallbeprovidedbytheCom- Joint-Stock Companiesthelistofpersonsentitledtoattend In accordancewithclause4ofarticle51theFederalLawon Companies”. unless otherwiseisprovidedbytheFederalLawonJoint-Stock on theInternetnotlaterthan30(thirty)dayspriortoitsdate pany inIzvestiaDailyandisplacedontheCompany'swebsite the GeneralMeetingofShareholdersispublishedbyCom- The Chartercontainsaprovisionasfollows:“11.5Noticeabout
— Annual report report — Annual
— 2010 — -
125 ANNUAL REPORT JSC RAO UES / 2010 126 ANNUAL REPORT JSC RAO UES / 2010 13 12 11 10 9 8 Board ofDirectors 7 № while countingthevotes. Director andmembersoftheManagement Board,shouldnotbetakenintoaccount agement Board,thevotesofmembers ofBoardDirectorswhoaretheGeneral the General Director (management organization, manager) and members of the Man- ment concerningthatduringapproval oftermsandconditionscontractswith Availability inthejoint-stockcompany’sCharterorinternaldocumentsof require of theManagementBoard. to approvetermsandconditionsofcontractswiththeGeneralDirector members Availability inthejoint-stockcompany’sCharterofrightforBoard Directors joint-stock company. Director, membersoftheManagementBoardandheadsmainstructuralunitsa tors tosetrequirementsqualificationandamountofremunerationtheGeneral Availability inthejoint-stockcompany’sCharterofrightforBoardDirec by theGeneralMeetingofShareholders. to makeadecisionaboutsuspensionofauthoritytheGeneralDirectorappointed Availability inthejoint-stockcompany’sCharterofrightforBoardDirectors by theBoardofDirectors. Availability oftheprocedureriskmanagementinajoint-stockcompany,approved to annuallyapprovethefinancialandeconomicplanofajoint-stockcompany. Availability inthejoint-stockcompany’sCharterofauthorityBoardDirectors tration oftheGeneralMeetingShareholders’participants. Availability inthejoint-stockcompany’sinternaldocumentsofaprocedureforregis Provision oftheCorporateConductCode - - - Not observed Observed Partially observed Not observed Observed Observed Observed observed Observed ornot Comments these requirements. The Company’sCharterandinternaldocumentsdonotcover of Directorstosigntheemploymentcontract...” are determinedbyapersonauthorizedtheCompany’sBoard of Directors.Termsandconditionstheemploymentcontract Management BoarduponauthorizationoftheCompany’s on behalfoftheCompanybyChairmanCompany’s with themembersofCompany’sManagementBoardissigned the Company’sBoardofDirectors.Theemploymentcontract Company’s BoardofDirectorsorbyapersonauthorized Board issignedonbehalfoftheCompanybyChairman ment contractwiththeChairmanofCompany’sManagement In accordancewithclause20.4oftheCharter“Theemploy- the joint-stockcompany’smainstructuralunits. towards qualificationandamountofremunerationtheheads not covertherightforBoardofDirectorstosetrequirements of Directorstosigntheemploymentcontract...”TheCharterdoes are determinedbyapersonauthorizedtheCompany’sBoard of Directors.Termsandconditionstheemploymentcontract Management BoarduponauthorizationoftheCompany’s on behalfoftheCompanybyChairmanCompany’s with themembersofCompany’sManagementBoardissigned the Company’sBoardofDirectors.Theemploymentcontract of Company’sBoardDirectorsorbyapersonauthorized ment BoardissignedonbehalfoftheCompanybyChairman employment contractwiththeChairmanofCompany’sManage- ment Board”.Inaccordancewithclause20.4oftheCharter“The paid totheChairmanandmembersofCompany'sManage- determination oftheamountremunerationandcompensation Board includingearlyterminationoftheiremploymentcontracts; early terminationofauthoritythemembersManagement of membersintheCompany'sManagementBoard,electionand of theBoardDirectorsincludes“determinationnumber In accordancewithclause15.1oftheChartercompetence termination ofauthoritytheChairmanManagementBoard”. the GeneralMeetingofShareholdersincludes“electionandearly In accordancewithclause10.1oftheChartercompetence No.33 dated01.11.2010) RAO UESGroup’sBoardofDirectorsat29.10.2010(Minutes Provision ofriskmanagementisapprovedbytheJSCINTER achievement thereof”. performance indicators(KPI)oftheCompanyandreportson approval ofbusinesstargetvalues(correctedvalues)key (revised businessplan)andthereportonexecutionthereof; of theBoardDirectorsincludes“approvalbusinessplan In accordancewithclause15.1oftheChartercompetence participants. procedure ofregistrationtheGeneralMeetingShareholders’ the meeting.Clauses5.1.2-5.1.6ofRegulationsspecify the GeneralMeetingofShareholdersstatedinanoticeabout person functioningasareturningboard,attheplaceofholding Shareholders iscarriedoutbytheReturningBoardorother of personsentitledtoparticipateintheGeneralMeeting ration andHoldingRegulations:Clause5.1.1Registration In accordancewithclause5.1oftheGeneralMeetingPrepa- 22 21 20 19 18 17 16 15 14 № Board ofDirectorsmeetings. Availability inthejoint-stockcompany’s internaldocumentsoftheprocedure weeks duringtheyearforwhichannualreportofcompanyisexecuted. Holding meetingsofthejoint-stockcompany’sBoardDirectorsatleastonce insix meetings oftheBoardDirectorsatleastonceinsixweeks. Availability inthejoint-stockcompany’sinternaldocumentsofrequirement tohold securities. ies (affiliates),andtodiscloseinformationaboutcompletedtransactionswithsuch pany themembersofBoardDirectorswhichtheyare,oritssubsidiar about theirintentiontocarryouttransactionswithsecuritiesofthejoint-stockcom members oftheBoardDirectorsaretonotifyinwriting Availability inthejoint-stockcompany’sinternaldocumentsofobligationthat case ofoccurrencesuchconflict. company, andtodiscloseinformationaboutthisconflicttheBoardofDirectorsin potentially resultinaconflictbetweentheirinterestsandofthisjoint-stock members ofBoardDirectorsaretorefrainfromactionswhichwillresultormay Availability inthejoint-stockcompany’sinternaldocumentsofobligationthat of Directorsbymeanscumulativevoting. Availability inthejoint-stockcompany’sCharterofrequirementtoelectBoard a legalentitycompetingwiththejoint-stockcompany. pants, directorsgeneral(managers),membersofmanagingbodiesoremployees of Absence inthejoint-stockcompany’sBoardofDirectorspersonswhoarepartici entrepreneurship orinthesphereoffinance,taxesandleviessecuritiesmarket. government serviceandlocalauthorities,orwhohavebeenpunishedforoffencein been foundguiltyofeconomiccrimesoragainststateauthority,interests Absence inthejoint-stockcompany’sBoardofDirectorspersonswhohave directors complyingwiththerequirementsofCorporateConductCode. Availability inthejoint-stockcompany’sBoardofDirectorsatleast3independent Provision oftheCorporateConductCode - - - Observed Mainly observed Not observed Observed Observed Observed Not observed Observed Observed observed Observed ornot Comments tions. Board ofDirectorsMeetingConvocation andHoldingRegula- is determinedbyArticle18oftheCompany’s Charterandinthe The procedureoftheCompany’sBoard ofDirectorsmeetings to 19.08.2010theintervalexceededsixweeks) Board ofDirectorswereheld.(duringtheperiodfrom23.06.2010 From 01.01.2010to31.12.201014meetingsoftheCompany’s once aquarter,unlessotherwisesetoutintheseRegulations. Activities oftheBoardDirectorsandasnecessarybutatleast of DirectorsareheldinaccordancewiththeapprovedPlan Convocation andHoldingRegulations“MeetingsoftheBoard In accordancewithclause5.1oftheBoardDirectorsMeeting performed duringtheaccountingperiod. securities oftheCompanyand/oritssubsidiariesoraffiliates, information, withawrittendeclarationabouttransactions are obligedtoprovidetheUnitthatcontrolsuseofinsider the 3rddayofmonthfollowingreportinginsiders the Company’sInsiderInformationRegulations,notlaterthan sion ofCompany’ssecurities.Inaccordancewithclause4.2 Company’s BoardofDirectorstheinformationaboutposses- Directors areobligedtodisclosetheAuditCommitteeof mation RegulationsthemembersofCompany’sBoard In accordancewithclause4.1oftheCompany’sInsiderInfor- refrain fromvotingforcorrespondingissues. Directors istoinformothermembersoftheBoardaboutitand Company. InthecaseofsuchconflictmemberBoard in aconflictbetweentheirinterestsandtheof Board ofDirectorsaretorefrainfromactionswhichmayresult Clause 4.1.6oftheCorporateConductCode:“Members date ordistributethembetweentwomorecandidates”. of Directorsandashareholdermayuseallvotesforonecandi- by thenumberofpersonstobeelectedCompany'sBoard the numberofvotesbelongingtoeachshareholderismultiplied Company's BoardofDirectors.Thecumulativevotingimpliesthat principle exceptcumulativevotingonelectionofmemberstothe Shareholders isbasedonthe“onevotingshare —onevote” Clause 10.7oftheCharter:“VotinginGeneralMeeting Energy Systems; of theBoardDirectorsinJSCRusHydroandRJSCEast JSC FGCUES;KurtserGrigoryMarkovichisapart-time-member Directors inJSCRusHydro,memberoftheBoard Chairman oftheManagementBoardand JSC HoldingIDGC;DodGennadiyVyacheslavovichisapart-time of theBoardDirectorsandinJSCRusHydro,FGCUES, Mosenergo; ShmatkoSergeyIvanovichisapart-time-Chairman part-time-Chairman oftheBoarddirectorsinJSCTGK-1, Energy SystemsoftheEast;SeleznyovKirillGennadyevichisa ergo, JSCIrkutskenergo,Kuzbassenergo,RJSC a part-time-memberoftheBoardDirectorsinJSCTyumenen- dro’s Boardofdirectors;KravchenkoVyacheslavMikhailovichis Kovalchuk BorisYuryevichisapart-time-memberofJSCRusHy- It ispracticed. nadyevich. ich; —KurtserGrigoryMarkovich;SeleznyovKirillGen- Independent directorsare: —AnoshkoNikolayAlexandrov-
127 ANNUAL REPORT JSC RAO UES / 2010 128 ANNUAL REPORT JSC RAO UES / 2010 28 27 26 25 24 23 № The auditcommitteeshouldbechairedbyanindependentdirector. mittee. Only independentandnon-executivedirectorsmaybemembersoftheAudit Com- with itandtheInternalAuditCommissionofthisjoint-stockcompany. ommend totheBoardofDirectorsanauditorajoint-stockcompanyandinteract Availability oftheBoardDirectorscommittee(AuditCommittee)whichshouldrec- Remuneration Committee). ment ofitsfunctionstoanothercommittee(excepttheAuditCommitteeandHR Availability oftheBoardDirectorscommitteeforstrategicplanningorassign tions, aswellresponsibilityfornon-provisionofsuchinformation. heads ofmainstructuralunitsinformationthatisnecessaryforperformingone’sfunc - of BoardDirectorstoreceivefromthejoint-stockcompany’sexecutivebodiesand Availability inthejoint-stockcompany’sinternaldocumentsofrightformembers course ofbusiness. cent fromthecostofcompanyassetsexcepttransactionsexecutedinnormal Board ofDirectorsshouldapprovethetransactionsamountingto10andmoreper Availability inthejoint-stockcompany’sinternaldocumentsofaprovisionthat Provision oftheCorporateConductCode - - Observed Observed Observed Observed Partially observed Observed observed Observed ornot Comments director) INTER RJSCUESisNikolaiAlexandrovichAnoshko(independent Chairman oftheBoardDirectorsAuditCommitteeJSC — K.G.Seleznyov(independentandnonexecutivedirector). — G.M.Kurtser(independentandnonexecutivedirector); ent andnon-executivedirector); — N.A.Anoshko ChairmanoftheAuditCommittee(independ- (Minutes No.32dated04.10.2010): determined bythedecisionofBoardDirectorsin2010 The membershipoftheBoardDirectorsAuditCommitteewas — K.G.Seleznyov(independentandnonexecutivedirector). — G.M.Kurtser(independentandnonexecutivedirector); ent andnon-executivedirector); — N.A.Anoshko ChairmanoftheAuditCommittee(independ- Directors (MinutesNo.32dated04.10.2010): Audit CommitteewasdeterminedbythedecisionofBoard Audit Committee.ThemembershipoftheBoardDirectors 23.04.2008) tookthedecisiontoestablishBoardofDirectors On 23.04.2008theBoardofDirectors(MinutesNo.1dated — A.N.Shyshkin. — WolfgangScribot; — G.S.Nikitin; — I.I.Mirsiyapov; — A.M.Lokshyn; — V.M.Kravchenko; — A.B.Ballo; — B.Yu.Kovalchuk; Committee; — S.I.Shmatko ChairmanoftheStrategyandInvestment (Minutes No.18dated21.09.2009): Directors wasdefinedbythedecisionofBoard ship oftheStrategyandInvestmentCommitteeBoard Investment CommitteeoftheBoardDirectors.Themember- 23.04.2008) tookthedecisiontoestablishStrategyand On 23.04.2008theBoardofDirectors(MinutesNo.1dated within the competence of the Board of Directors...”. ments and information necessary for taking decisions on issues the Board of Directors may send a written request to obtain docu tors Meeting Convocation and Company”. In accordance with clause 3.2 of the Board of Direc Law of the the Russian contract and other Company’s documents in accordance with the all documents of incorporation, regulatory, accounting, reporting, commercial secrets of the Company, to become acquainted with receive information about activities of the Company including the competence of the Board of Directors are entitled: 1) to H Clause 3.1 of the Board of Directors Meeting Convocation and to theaccountingdataasoflastreportdate.” exceeding 5%oftheCompany’sbalancesheetassetsaccording or mayresultintheCompanyliabilitiestoamountequal any transactions(includingfewrelatedtransactions)thatresult the competenceofBoardDirectorsincludes:“approval In accordancewithsub-clause28ofclause15.1theCharter olding Regulations: “Members of the Board of Directors within F ederation and internal documents of the H olding Regulations: “A member of - - 39 Executive bodies 38 37 36 35 34 33 32 31 30 29 № company Availability ofacollectiveexecutivebody(ManagementBoard)joint-stock directors intheBoardofDirectorsmeetings. quorum oftheBoardDirectors,ensuringobligatoryparticipationindependent Availability inthejoint-stockcompany’sCharterofaprocedurethatdetermines tors committees. documents, envisagingtheprocedureofformationandactivityBoard ofDirec- Availability ofapprovedbytheBoardDirectorsjoint-stockcompany’sinternal pendent director. The CommitteeforSettlementofCorporateConflictsshouldbechairedbyaninde- Corporate Conflicts. Absence ofthejoint-stockcompanyofficersinCommitteeforSettlement and HRRemunerationCommittee). flicts orassignmentofitsfunctionstoanothercommittee(exceptAuditCommittee Establishment oftheBoardDirectorsCommitteeforSettlementCorporateCon Committee). tions toanothercommittee(exceptAuditCommitteeandHRRemuneration Establishment oftheBoardDirectorsRiskCommitteeorassignmentitsfunc- Absence ofthejoint-stockcompanyofficersinHRandRemunerationCommittee. The HRandRemunerationCommitteeshouldbechairedbyanindependentdirector. Board ofDirectorsanddevelopthejoint-stockcompanypolicyonremuneration. tee) whichshoulddeterminethecriteriaforselectingcandidatestomembersof Establishment oftheBoardDirectorscommittee(HRandRemunerationCommit- Committee providingcompliancewithnon-disclosureagreement. any documentsandinformationofajoint-stockcompanyforallmemberstheAudit Availability inthejoint-stockcompany’sinternaldocumentsofrightaccessto Provision oftheCorporateConductCode - Observed Not observed Observed Not observed Not observed Not observed Not observed Not observed Not observed Observed Observed observed Observed ornot Comments Article 21(ManagementBoard)oftheCharter. the Company’sBoardofDirectors”. meeting isatleastahalfofthenumberelectedmembers Clause 18.11oftheCharter:“QuorumforBoardDirectors — StrategyandInvestmentCommitteeRegulations. — HRandRemunerationCommitteeRegulations; — AuditCommitteeRegulations; No.18 dated21.09.2009)approved: Decision oftheBoardDirectorsdated21.09.2009(Minutes for SettlementofCorporateConflicts The CompanydoesnothavetheBoardofDirectorsCommittee for SettlementofCorporateConflicts The CompanydoesnothavetheBoardofDirectorsCommittee for SettlementofCorporateConflicts The CompanydoesnothavetheBoardofDirectorsCommittee mittee. The CompanydoesnothavetheBoardofDirectorsRiskCom- member oftheManagementBoardJSCINTERRAOUES. mittee ofJSCINTERRAOUESBorisAlexanderGennadievichis Member oftheBoardDirectorsHRandRemunerationCom- an independentdirector. mittee ofJSCINTERRAOUESSergeiIvanovichShmatkoisnot Chairman oftheBoardDirectorsHRandRemunerationCom- — A.G.Boris. — A.M.Lokshyn; — G.M.Kurtser; — V.M.Kravchenko; — G.S.Nikitin; mittee; — S.I.Shmatko ChairmanoftheHRandRemunerationCom- 23.08.2010): by thedecisionofBoardDirectors(MinutesNo.30dated of DirectorsHRandRemunerationCommitteewasdetermined HR andRemunerationCommittee.ThemembershipoftheBoard 23.04.2008) tookthedecisiontoestablishBoardofDirectors On 23.04.2008theBoardofDirectors(MinutesNo.1dated observe confidentiality. of theBoardDirectorsAuditCommitteemust accordance withsub-clause4ofclause5.1theRegulations and membersoftheManagementBoardCompany...”In comments tothemfromtheChairmanofManagementBoard request andtoreceivenecessaryinformation,documents clause 4.1oftheRegulationsCommitteehasrights“to ing No.1dated23.04.2008).Inaccordancewithsub-clause2of approved on 23.04.2008 (Minutes of the Board of Directors meet- The RegulationsoftheBoardDirectorsAuditCommitteewere
129 ANNUAL REPORT JSC RAO UES / 2010 130 ANNUAL REPORT JSC RAO UES / 2010 48 47 46 45 44 43 42 41 40 № Management Board. the GeneralDirector(managementorganization,manager)andmembersof the proprietary informationinagreementsconcludedbythejoint-stockcompany with Stipulating liabilityforviolationofprovisionsrelatingtotheuseconfidential and activities totheBoardofDirectors. Submission byexecutivebodiesofthejoint-stockcompanymonthlyreports selecting managementcompany(manager). Availability inthejoint-stockcompany’sCharterorinternaldocumentsofcriteriafor case ofsuchconflictshouldinformtheBoardDirectors. in aconflictbetweentheirinterestsandofthejoint-stockcompany, executive bodiesshouldrefrainfromactionswhichwillresultormaypotentially Availability inthejoint-stockcompany’sinternaldocumentsofobligationthat except deliveryofservicesamanagementcompany(manager). ing companyandhavinganyotherownershiprelationswiththisjoint-stock management organization(manager)fromperformingsimilarfunctionsinacompet- Availability inthejoint-stockcompany’sCharterorinternaldocumentsprohibitingto a Management Board. requirements forthejoint-stockcompany’sGeneralDirectorandmembersof of theManagementBoardmanagementcompanyormanagerwith ment companyoramanager,thecomplianceofGeneralDirectorandmembers In thecasewhenfunctionsofasoleexecutivebodyareperformedbymanage- entrepreneurship orinthesphereoffinance,taxesandleviessecuritiesmarket. government serviceandlocalauthorities,orwhohavebeenpunishedforoffencein found guiltyofeconomiccrimesoragainststateauthority,interests Absence inthejoint-stockcompany’sexecutivebodiesofpersonswhohavebeen with thejoint-stockcompany. (managers), membersofmanagingbodiesoremployeesalegalentitycompeting Absence inexecutivebodiesofpersonswhoareparticipants,directorsgeneral of ajoint-stockcompany. proving theoperationswhicharebeyondscopeoffinancialandeconomicplan Availability inthejoint-stockcompany’sinternaldocumentsofaprocedureforap of businessinthejoint-stockcompany. the loansifsuchtransactionsarenotmajoranddobelongtonormalcourse that the Management Board should approve transactions with real property, receiving Availability inthejoint-stockcompany’sCharterorinternaldocumentsofaprovision Provision oftheCorporateConductCode - Observed Partially observed Not observed Observed Not observed Observed Observed Observed Partially observed observed Observed ornot Comments accordance withtheexistinglegislation”. ing legislation,andadministrativelyorcriminallyanswerablein terms andconditionsofagreementswiththeCompanyexist- disciplinary and/orciviltermsanswerableinaccordancewith of insiderinformationtheCompany’sinsidersmaybemadein Insider InformationRegulations“forillegaldisclosureand/oruse guilty activity(inactivity)…”Inaccordancewithclause5.1ofthe to theCompanyforlossescausedwiththeir lations, “MembersoftheManagementBoardhaveresponsibility In accordance with clause 3.1.6 of the Management Board Regu- with theManagementBoardRegulations.” terly reportsontheManagementBoardactivitiesinaccordance Management BoardprovidestheofDirectorswithquar- accordance withclause4.3oftheCorporateConductCode“The a quarterlybasis(sub-clause2ofclause21.2theCharter).In pany activitiesshouldbesubmittedtotheBoardofDirectorson Reports oftheChairmanManagementBoardaboutCom- agement company(manager). The Company’sCharterdoesnotenvisageregulationsforman- responding issues.” the BoardofDirectorsaboutitandtorefrainfromvotingforcor- Chairman andmembersofManagementBoardshouldinform the interestsofCompany.Incasesuchconflict actions whichmayresultinaconflictbetweentheirinterestsand and themembersofManagementBoardaretorefrainfrom Clause 4.2.7oftheCorporateConductCode:“TheChairman agement company(manager). The Company’sCharterdoesnotprovideregulationsforaman- tion ofCompany'sparticipationinotherorganizations”. shares, interest),encumbranceofshares(interest)andtermina- tions, changesinparticipatoryinterest(numberofshares,size “decisions ontheCompany'sparticipationinotherorganiza- Charter thecompetenceofBoardDirectorsincludes In accordancewithsub-clause15.1.29ofclause15.1the ing dataasofthelastreportdate. the Company’sbalancesheetassetsaccordingtoaccount- Company liabilitiesamountingfrom2(two)to5(five)percentof (including fewrelatedtransactions)thatresultormayinthe of theManagementBoardincludes“approvalanytransactions In accordancewithclause21.2.6oftheChartercompetence 59 58 Information disclosure 57 56 55 54 53 52 Essential corporateactivities 51 50 49 Secretary oftheCompany № chief officialsinpurchaseofthecompanysharestobeplaced. shareholdings, aswellaboutpossibleparticipationofthejoint-stockcompany’s placement, aboutpeopleintendingtopurchasesharesbeplacedincluding large the followinginformationshouldbedisclosed:anaboutgoal ofshares Availability inthejoint-stockcompany’sinternaldocumentsofrequirement that disclosure (InformationPolicyRegulations). determine rulesandapproachesofajoint-stockcompanytowardstheinformation Availability ofaninternaldocumentapprovedbytheBoardDirectors,that ratio ofsharesconversionduringreorganization. ment thatanindependentappraisershouldbeobligatoryengagedtodeterminethe Availability inthejoint-stockcompany’sCharterorinternaldocumentsofrequire (issuing securitiesconvertibleintoequities)ownedbythem,duringacquisition. released fromtheobligationtooffershareholderssellequitiesofthiscompany Absence inthejoint-stockcompany’sCharterofanopportunitythatacquirercanbe shares anditspossiblechangesintheresultofacquisition. ent appraisershouldbeobligatoryengagedtoestimatethefairmarketvalueof Availability inthejoint-stockcompany’sCharterofrequirementthatanindepend this company,evenifithassuchrightinaccordancewiththeCharter). of securitiesconvertibleintosharesorentitlingtothepurchase of estimated periodofsharespurchase,abouttheissueadditionalshares, lar, prohibitionfortheBoardofDirectorstomakedecisionsbeforetermination tions indisfavorofshareholderscomparisonwiththeexistingsituation(inparticu bodies) andmembersofthejoint-stockcompany’sBoardDirectors,aswellac actions aimedatprotectionoftheinterestsexecutivebodies(membersthese purchase ofalargeshareholdingjoint-stockcompany(acquisition),todoany Availability inthejoint-stockcompany’sCharterofprohibitioncase property whichisthesubjectofamajortransaction. Obligatory useofanindependentappraiserforassessmentthemarketvalue ment toapproveamajortransactionbeforeitsexecution. Availability inthejoint-stockcompany’sCharterorinternaldocumentsofarequire the companysecretary. Availability inthejoint-stockcompany’sCharterofrequirementsforcandidacy secretary. for appointment(election)ofthecompanysecretaryandduties Availability inthejoint-stockcompany’sCharterorinternaldocumentsofaprocedure shareholders. with proceduralrequirementssafeguardingtherightsandinterestsofcompany's whose soleobjectiveshouldbetoensurethatcorporatebodiesandofficerscomply Availability inthejoint-stockcompanyofaspecialofficer(secretarycompany) Provision oftheCorporateConductCode - - - - - Not observed Observed Not observed Observed Not observed Not observed Not observed Observed inpractice Not observed Not observed Not observed observed Observed ornot Comments tion PolicyRegulationsofJSCINTERRAOUES. requirements oftheRussianFederationLawandInforma- Information disclosureisperformedinaccordancewiththe dated 23.08.2010,MinutesNo.30). (approved bythedecisionofCompany’sBoardDirectors The InformationPolicyRegulationsofJSCINTERRAOUES engaged todetermineswapratio. ternal documents,butinpracticeanindependentappraiserwas This requirementisnotdefinedintheCompany’sCharteror- where theirfairmarketvalueisdetermined. stock exchangesofRussia:RTSandMICEXStockExchange, Since July2008theCompanysharesaretradedonleading is carriedaccordingtorequirementsoftheLaw. ecuted. Theapprovingofamajortransactionbeforeitsexecution the requirementtoapproveamajortransactionbeforeitisex- The Company’sCharterandinternaldocumentsdonotenvisage These requirementsarenotdefinedintheCharter. and internaldocuments. These requirementsarenotdefinedintheCompany’sCharter such anofficer(corporatesecretary)intheCompany. The Company’sCharterandinternaldocumentsdonotenvisage
131 ANNUAL REPORT JSC RAO UES / 2010 132 ANNUAL REPORT JSC RAO UES / 2010 69 68 67 66 65 Control offinancialandeconomicactivities 64 63 62 61 60 № entity competingwiththejoint-stockcompany. directors general(managers),membersofmanagingbodiesoremployees ofalegal joint-stock company’sexecutivebodies,aswellpersonswhoareparticipants, Absence inthesupervisionandauditingserviceofpersonswhoaremembers ofthe ship orinthesphereoffinance,taxesandleviessecuritiesmarket. service andlocalauthorities,orwhohavebeenpunishedforoffenceinentrepreneur guilty ofeconomiccrimesoragainststateauthority,interestsgovernment Absence inthesupervisionandauditingserviceofpersonswhohavebeen found and auditingserviceofthejoint-stockcompany. Board ofDirectorsshoulddeterminethestructureandmembershipsupervision Availability inthejoint-stockcompany’sinternaldocumentsofarequirement thatthe the internalauditprocedures(supervisionandauditingservice). Availability ofthejoint-stockcompany’sspecialunitthatensuresobservance of internal auditoffinancialandeconomicactivitiesthejoint-stockcompany. Availability oftheprocedures(approvedbyBoardDirectors)thatdetermine and othersecuritiesofthejoint-stockcompany. sible anddisclosureofwhichmayhaveagreatimpactonthemarketpriceshares shares andothersecuritiestransactionswiththem,whichisnotgenerallyacces the useofimportantinformationaboutjoint-stockcompanyactivities, Availability ofinternaldocumentsapprovedbytheBoardDirectorsthatstipulate the joint-stockcompanyshares. disclose informationaboutalltransactionswhichmayinfluencethemarketvalueof Availability inthejoint-stockcompany’sinternaldocumentsofrequirementto people mayinfluenceessentiallyinotherways. own atleast20percentofchartercapitalthejoint-stockcompany,orwhomsuch organizations inwhichthejoint-stockcompany’schiefofficersdirectlyorindirectly ficers ofthecompany,aswellabouttransactionsthisjoint-stockcompanywith pany’s transactionswithpersonsaffiliatedinaccordancetheChartertochiefof- the followinginformationshouldbedisclosed:aboutjoint-stockcom Availability inthejoint-stockcompany’sinternaldocumentsofrequirementthat information aboutthisjoint-stockcompanyonwebsite. Availability oftheInternetwebsiteajoint-stockcompanyandregulardisclosure of sions onissuesproposedfortheGeneralMeetingofShareholders. documents andmaterialswhichshouldbeprovidedtoshareholdersfortakingdeci - Availability inthejoint-stockcompany’sinternaldocumentsoflistinformation, Provision oftheCorporateConductCode - - - Observed Observed Not observed Observed Observed Observed Observed Observed Observed Not observed observed Observed ornot Comments It ispracticed. It ispracticed. documents. This requirementisnotenvisagedintheCompany’sinternal (minutes No.28dated22.06.2010). are approvedbytheBoardofDirectorsJSCINTERRAOUES Internal Audit,ControllingandRiskManagementUnitRegulations dated 03.05.2011). the BoardofDirectorsJSCINTERRAOUES(minutesNo.41 The InternalAuditPolicyofJSCINTERRAOUESisapprovedby dated 23.04.2008,MinutesNo.1). (approved bythedecisionofCompany’sBoardDirectors The InsiderInformationRegulationsofJSCINTERRAOUES messages aboutessentialfacts). disclosure insecurityprospectus,quarterlyreport,theformof Clause 5.1oftheInformationPolicyRegulations(information corporate Internetwebsite. and theCompany(therehavebeennosuchtransactions)onits mation abouttransactionsbetweentheabovementionedpeople (type) ofshares;(inquarterlyreportsandlistsaffiliates)infor- by chiefofficersandtheiraffiliates,statingquantitycategory the Companysharesandofitssubsidiariesaffiliates pany disclosesonthewebsiteinformationaboutownershipof In accordancewiththeInformationPolicyRegulationsCom- interrao.ru inclusively. information distributionbymeansofthecorporatewebsitewww. disclosure ofinformationaboutCompanyisperformedthrough ance withclause5.1oftheInformationPolicyRegulations The corporatewebsitewww.interrao.ruisinoperation.Inaccord- list ofinformationprovidedtotheshareholders. of theseRegulations,makeadecisionaboutdeterminationthe of Directorsandotherpersonsincasesenvisagedclause3.1 preparation totheGeneralMeetingofShareholders,Board General MeetingPreparationandHoldingRegulations,during Company”. Inaccordancewithsub-clausee)ofclause2.2the shall bespecifiedbyadecisionoftheBoardDirectors Meeting ofShareholdersandlistsuchinformation(materials) Shareholders bythepeopleentitledtoparticipateinGeneral tion (materials)onissuesintheagendaofGeneralMeeting clause 11.7oftheCharter“theprocedurereviewinginforma- in anyinternaldocumentsoftheCompany.Inaccordancewith proposed fortheGeneralMeetingofShareholders,wasnotset are providedtoshareholdersformakingdecisionsonissues A completelistofinformation,documentsandmaterialswhich 78 77 76 Dividends 75 74 73 72 71 70 № of thisinformationontheInternetwebsitejoint-stockcompany publishing informationaboutGeneralMeetingsofShareholdersaswellplacement amendments inaperiodicalenvisagedbythejoint-stockcompany’sCharter usedfor Publication ofinformationaboutthejoint-stockcompany’sdividendpolicyand its company’s Charter. preferred shares,theamountofdividendsonwhichwasdeterminedin joint-stock as termsandconditionsunderwhichdividendsshouldbepaidorpartially on joint-stock company’sminimumshareofnetprofitforpaymentdividends, aswell Availability intheDividendPolicyRegulationsofaprocedurethatdetermine she amount ofdividends(DividendPolicyRegulations). is usedbytheBoardofDirectorswhilemakingrecommendationsrelatingto the Availability oftheinternaldocumentapprovedbyBoardDirectors,which the GeneralMeetingofShareholders. The AuditCommitteeevaluatesanauditreportbeforepresentingittoshareholdersat company bytheInternalAuditCommission. mine theprocedureoffinancialandeconomicactivitiesinspectionsajoint-stock Availability oftheinternaldocumentsapprovedbyBoardDirectors,thatdeter- defines adjustmentofanirregulartransactionwiththeBoardDirectors Availability inthejoint-stockcompany’sinternaldocumentsofaprocedurethat financial andeconomicplanofthejoint-stockcompany(irregulartransaction). and auditingserviceshouldstudyfeasibilityofanytransactionnotenvisagedinthe Availability inthejoint-stockcompany’sCharterofarequirementthatsupervision of thejoint-stockcompany. violations, andincaseofabsencetheAuditCommittee —BoardDirectors supervision andauditingservicearetoinformtheAuditCommitteeaboutrevealed Availability inthejoint-stockcompany’sinternaldocumentsofstatementthat and materialsinthestatedperiod. joint-stock company’sofficialsandemployeesfornon-provisionofthesedocuments ation ofperformedfinancialandeconomicoperation,aswellresponsibilitythe provide thesupervisionandauditingservicewithdocumentsmaterialsforevalu- Availability inthejoint-stockcompany’sinternaldocumentsofarequirementto Provision oftheCorporateConductCode Partially observed Observed Observed Observed Observed Observed Not observed Observed Not observed observed Observed ornot Comments quarterly reportsontheCompany’swebsite. should bedisclosedinasecurityprospectusandannual tion abouttheCompany’sdividendpolicyanditsamendments In accordancewiththeInformationPolicyRegulations,informa- UES. Clause 4.4oftheDividendPolicyRegulationsJSCINTERRAO tors ofJSCINTERRAOUES(minutesNo.41dated03.05.2011). Dividend Policy Regulations was approved by the Board of Direc- proved bytheBoardofDirectors. The CompanyhasInternalAuditCommissionRegulationsap- third parties. rendering ofservices(executionwork)bytheCompanyfor or thirdparty;approvaloftransactionsrelatedtouncompensated related toliberationfrompropertyresponsibilityowedoneself (claims) tooneselforthethirdparty;approvaloftransactions pensated transferoftheCompany’spropertyorrights 15.1 oftheCharter:approvaltransactionsrelatedtouncom- last reportdate”. —inaccordancewithsub-clause30ofclause balance sheetassetsaccordingtotheaccountingdataasof amount ofequalorexceeding5(five)percenttheCompany’s tions) thatresultormayintheCompanyliabilities ter: “approvalofanytransaction(includingfewrelatedtransac- accordance withsub-clause15.1.28ofclause15.1theChar- transfer, dispatchinganddistributionofelectricityheat”. —in tion projects,whichmaybeusedforthepurposeofproduction, comprise mainfacilities,intangibleassets,incompleteconstruc- tion relatedtodispositionorpossibleofpropertythat 15.1.26 ofclause15.1theCharter:“approvalanytransac- of thefollowingtransactions: —inaccordancewithsub-clause The competenceoftheBoardDirectorsincludesapproval ment UnitRegulationsofJSCINTERRAOUES. Clause 7.2oftheInternalAudit,ControllingandRiskManage-
133 ANNUAL REPORT JSC RAO UES / 2010 134 ANNUAL REPORT JSC RAO UES / 2010 1 Transactions approvedattheGeneralMeetingofShareholders 1 3 2 RELATED PARTYTRANSACTIONS approved: were Board, Management the of Meetings the at proved ap preliminarily transactions, party related following the of Shareholders Meetings General and of Directors of Board the 2010In Meetings at the No. rial Se- No. rial Se- essential terms) Transactions (subjectmatteroftransactionandits is obligedtoacceptitandpayforit. (provide) forBuyerelectricalenergyand power,andBuyer JSC TGK-1.SubjectoftheTransaction:Sellerisobligedtotransfer between JSCINTERRAOUESandWGC-1,RusHydro, Transactions ofpurchaseandsaleelectricalenergyand/orpower conclusion till31.12.2012. and payfortheseservices.TermofTransaction:sincethedate Russian Federation,andJSCINTERRAOUESisobligedtoaccept (all-Russian) electricnetworkthroughthecustomborderof vide servicesofelectricpowertransmissiononthesinglenational network. SubjectoftheTransaction:JSCFGCUESisobligedtopro- power transmissionthroughthesinglenational(all-Russian)electric RAO UESandJSCFGConservicesprovisionofelectric Transaction (severalrelatedtransactions)betweenJSCINTER year — 1307,371;20141287,847;2015283,162. 400,000; 2011year —1325,849;2012255,238;2013 to provideBuyerwithgasinthefollowingamount:2010year —1 VATEK. SubjectoftheAdditionalAgreement:Supplierisobliged SZ d/d28.09.2009betweenJSCINTERRAOUESandNO- Additional AgreementtotheGasSupplyContractNo.2009438-M/ credit provision.Goaloffinancingprovision —replenishworkingcapital. 0,02% ofcreditsum.TermAgreements:upto180daysfromthedate of 180days.Interestrate:upto5%thecreditsum.Arrangementfee: on Trustee’swrittenapplications.Creditfundsareprovidedfortheperiod ments. MonetaryfundswithinAgreementsareprovidedtoTrusteebased stated byAgreementsandpayinterestsintheamountAgree- tion, andTrusteeisobligedtoreturnthesameamountofmoneyinperiod total amountofnomorethan60000rublestheRussianFedera- or fewsingle-typeagreementsprovidesTrusteewithcreditfundsinthe cial Bank(Cyprus)Limited.Subjectoftheagreements:Trustorwithinone Credit agreementsbetweenJSCINTERRAOUESandRussianCommer- Transactions (subjectmatteroftransactionanditsessentialterms) OF THEBOARDDIRECTORSIN2010 WERE APPROVEDATTHEMEETINGS THE FOLLOWINGMAJORTRANSACTIONS RusHydro, JSCTGK-1. Seller orBuyer —JSC INTER RAOUES Seller orBuyer —JSC JSC INTERRAOUES FGC UESCustomer — Contractor — JSC JSC NOVATEK RAO UES;Supplier — Buyer — JSCINTER Parties (Cyprus) Limited sian CommercialBank RAO UES;Trustor —Rus- Trustee — JSCINTER Parties Capital 3. CJSCINTERRAO goatom 2. JSCConcernRosener- Rosatom 1. StateCorporation Rosatom State Corporation NOVATEK) Board ofDirectorsJSC time — thememberof RAO UES(atthesame Directors ofJSCINTER member ofBoard Seleznyov K.G. —the Parties concerned 60 000RUB Price Price including VAT transaction’s conclusion:10512000 rubles transaction’s conclusion.Ceilingamountof electrical energyandpowerasonthedate of settled onthepurchaseandsalemarketof transaction isdefinedaccordingtoprices or electricalenergyandpowerwithineach Price ofpurchaseandsaleelectricalenergy of Russia). tariff ratesstatedbyFederalTariffService(TS Price ofTransactionisdefinedaccordingtothe VAT No morethan34497512400rublesincluding 27.12.2010 Minutes No.36d/d. approving thetransaction No. oftheminutesBD d/d 25.06.2010 Shareholders eral Meetingof the annualGen- Minutes No.5of transaction roving the minutes app- GMS/BD No. of - 4 7 6 5 No. rial Se- essential terms) Transactions (subjectmatteroftransactionandits JSC INTERRAOUESterminate. invalid atthemomentwhenallobligations ofJSCOGK-1owedto comes validfromthedateofitssigningby thepartiesandbecomes a designatedaccount.TermofAgreements:eachAgreementbe- demands ofJSCINTERRAOUESandtransfermonetaryfundsto corresponding Bankandisobligedtofulfillproducedpayment monetary fundsfromCustomer’ssettlementaccountplacedin commits Banktowriteoffundisputedlyandacceptance-freelythe d/d 24.11.2009(hereinafterreferredtoasAgreement),Customer RAO UESobligationswithintheLoanAgreementNo.ShTK-005154 of Agreements:InordertoguaranteetheperformingJSCINTER concluded betweenJSCINTERRAOUESandOGK-1.Subject the LoanAgreementNo.ShTK-005154d/d24.11.2009,thatwas order toguaranteetheperformingofJSCOGK-1obligationswithin in JSCBPERESVET(CJSC)andJSCSavingsBankofRussia debiting ofmonetaryfundsfromJSCOGK-1accountsplaced Agreement thatJSCINTERRAOUEShastherightfordirect fee intheamountof40000(fortymillion)rubles. within LoanAgreementBorrowerrepaytoLenderthecommission Subject ofAgreement:inthecasepre-termreturnloanamount between JSCINTERRAOUESandOGK-1d/d24.11.2009. Additional AgreementtoLoanNo.ShTK-005154 unit. of JSCEkibastuzGRES-2PowerStation’sthirdpower-generation Agreement aspartofrealizationfinancingprojectforconstruction and ForeignEconomicAffairs(TradeBank)withintheCredit Development BankandStateCorporationof GRES-2 PowerStationwillperformitsobligationsowedtoEurasian Goal ofIndemnityContract:TheguaranteethatJSCEkibastuz performs completelyitsobligationsundertheIndemnityContract. of IndemnityContract:untilJSCEkibastuzGRES-2PowerStation the liabilitiesreturnfromJSCEkibastuzGRES-2PowerStation.Term and inthecaseofobligationsdefaultGuarantorisresponsiblefor of 50%thetotalamountliabilitieswithinCreditAgreement Ekibastuz GRES-2PowerStationitsobligationsrelatedtorepayment ally andirrevocablyobligedtoberesponsibleforperformingbyJSC velopment Bank.SubjectoftheContract:Guarantorisuncondition- Indemnity ContractbetweenJSCINTERRAOUESandEurasianDe- and Buyerisobligedtoacceptpayforit. transfer (provide)forBuyerelectricalenergyandpower, HPP II,TGREnerji.SubjectoftheTransaction:Sellerisobligedto tika, CJSCArmeniaelectricnetworks,JSCKhramiHPPI,rami Asia Ltd.,KazenergoresursJSCTelasi,LLCMtkwarienerge- INTER RAOUESandUABLietuva,Central Transactions ofpurchaseandsaleelectricalenergybetweenJSC Bank ofRussia Bank — JSCSavings tomer — JSCOGK-1, INTER RAOUESCus- 2. Lender —JSC PERESVET (CJSC); OGK-1, Bank —JSCB Customer — JSC INTER RAOUES, 1. Lender —JSC JSC OGK-1 RAO UESBorrower — Lender — JSCINTER Development Bank ity Agent —Eurasian INTER RAOUESFacil- Guarantor — JSC II, TGREnerji HPP I,JSCrami networks, JSCHrami CJSC Armeniaelectric Mtkwari energetika, Ltd., JSCTelasi,LLC Ltd., Kazenergoresurs RAO CentralAsia RAO Lietuva,INTER or Seller —UABINTER INTER RAOUESBuyer Buyer orSeller —JSC Parties Capital 3. CJSCINTERRAO goatom 2. JSCConcernRosener- Rosatom 1. StateCorporation Capital 3. CJSCINTERRAO goatom 2. JSCConcernRosener- Rosatom 1. StateCorporation Capital 3. CJSCINTERRAO goatom 2. JSCConcernRosener- Rosatom 1. StateCorporation Capital 3. CJSCINTERRAO goatom 2. JSCConcernRosener- Rosatom 1. StateCorporation Parties concerned Price 20% perannum. commission feesinthetotalaccountofupto rubles andthesumofinterestpayments Agreement butnomorethan8000 The priceisequaltodebtsoccurringwithin exceed 1,25%perannumofthecreditsum. annum. Theamountofcreditusefeedoesnot no lessthan11%andmore17%per Republic ofKazakhstanplus4%perannumbut equal toinflationindexofconsumercostsinthe per annumofKazakhstantenge —floatingrate dollars — floatingrateequaltoLibor3m+8,5% of theBankRussia+2,5%perannumUS make floatingrateequaltoofficialbank ment. HerewithinterestratesonRussianrubles not performitsliabilitieswithintheCreditAgree- if JSCEkibastuzGRES-2PowerStationdoes Foreign EconomicAffairs(TradeBank) State CorporationBankofDevelopmentand incurred byEurasianDevelopmentBankand tenge —50%ofaccruedinterestsandcharges Federation rublesorRepublicofKazakhstan US dollarsoritscountervalueintheRussian 000 (threehundredandeightyfivemillion) 12 000(twelvebillion)rublesand385 debt undertwocreditlimits:intheamountof Agreement namely: —50%withintheprincipal the totalamountofliabilitieswithinCredit The amountofIndemnityContractis50% rubles. Totalamount:11500000 JSC HramiPPII,TGREnerji —1600000 Armenia electricnetworks,JSCHramiPPI, JSC Telasi,LLCMtkwarienergetika,CJSC goresurs Ltd. —1200000rubles;for for INTERRAOCentralAsiaLtd.andKazener- INTER RAOLietuva —8700000rubles; amount oftransaction’sconclusion: —forUAB infrastructural organizations’servicefee.Ceiling custom feesandexpendituresconnectedwith as onthedateoftransaction’sconclusion, energy atthecorrespondingmarket (target) priceforpurchaseandsaleofelectrical Price isdefinedaccordingtoweightedaverage transaction roving the minutes app- GMS/BD No. of
135 ANNUAL REPORT JSC RAO UES / 2010 136 ANNUAL REPORT JSC RAO UES / 2010 8 10 9 No. rial Se- essential terms) Transactions (subjectmatteroftransactionandits VTB Bank,JSCSavingsBankofRussia. count ofJSCINTERRAOUESintheoperationdepartment resulted fromforeigncurrencyandrublessaleintosettlementac- Bank, JSCSavingsBankofRussiaincludingenrollmentincome INTER RAOUESaccountsintheoperationdepartmentofJSCVTB monetary fundsand/orsellforeigncurrencyandrublesfromtheJSC VTB Bank,JSCSavingsBankofRussiahavetherighttowrite-off ments) intheoperationdepartmentofcorrespondingBank,JSC pointed intheacceptance-freeagreement(acceptance-freeagree- the JSCINTERRAOUESsettlementaccount(settlementaccounts) has beenalreadymatured.Inthecaseoflackmonetaryfundsin for usingofcredit,forfeits,otherpayments),whichpaybackperiod Bank ofRussia(includingthesumprincipaldebt,interest between JSCINTERRAOUES,andVTBBank,Savings of repaymentdebtsresultedfromcreditagreementsconcluded VTB Bank,JSCSavingsBankofRussiarespectively,forthepurpose ment account(settlementaccounts)inoperationdepartmentofJSC INTER RAOUESwrite-offanymonetaryfundsincomingtosettle- acceptance-freely andwithoutanyadditionalinstructionsfromJSC Bank andJSCSavingsofRussiaareentitledtoundisputedly, and JSCSavingsBankofRussia.SubjectAgreement:VTB from JSCINTERRAOUESaccounts,placedinVTBBank to undisputedlyandacceptance-freelywrite-offthemonetaryfunds Agreement thatletJSCVTBBankandSavingsofRussia annum. by correspondingagreement.Interestratenomorethan12%per pay interestsforusingthemontermsandconditions,prescribed rubles, andBorrowerisobligedtoreturnLenderreceivedcredit limit ofindebtednessinamountupto10000(tenbillion) rower monetaryfundsontermsofrevolvinglinecreditwiththe RUSSIA. SubjectoftheTransaction:LenderisobligedtogiveBor- Credit transactionsbetweenJSCINTERRAOUESandJSCB more than12%perannum. tions, prescribedbycorrespondingagreement.Interestrateisno received creditandpayinterestsforusingthemontermscondi- 000 (tenbillion)rubles,andBorrowerisobligedtoreturnLender line ofcreditwiththelimitindebtednessinamountupto10000 is obligedtogiveBorrowermonetaryfundsontermsofrevolving Bank, JSCSavingsBankofRussia.SubjectTransactions:Lender Credit transactionsbetweenJSCINTERRAOUESandVTB each individually ings BankofRussia — VTB Bank,JSCSav- RAO UESBank —JSC Client — JSCINTER RUSSIA Lender — JSCJSCB INTER RAOUES Borrower — JSC individually Bank of Russia Bank, JSCSavings Lender — JSCVTB INTER RAOUES Borrower — JSC Parties — each Rosatom State Corporation JSCB RUSSIA). Board ofDirectorsJSC relative istheChairmanof chuk B.Y.(hisimmediate INTER RAOUESKoval- agement BoardofJSC Acting ChairmanofMan- Rosatom State Corporation Parties concerned Price responding transaction’sconclusion. of Russiaexchangerateatthedatecor- equivalent inUSdollarsorEuroattheBank 20,000,000,000 (twentybillion)rublesorits Ceiling amountoftransaction’sconclusion: in thetotalamountofupto12%perannum. sum ofinterestpaymentsandcommissionfee transaction’s conclusionandnomorethan exchange rateatthedateofcorresponding in USdollarsorEuroattheBankofRussia than 10000rublesoritsequivalent Bank, JSCSavingsBankofRussia,butnomore between JSCINTERRAOUESandVTB resulted fromcreditagreementsconcluded The priceofeachagreementequalstodebt responding transaction’sconclusion. of Russiaexchangerateatthedatecor- equivalent inUSdollarsorEuroattheBank sion: 10,000,000,000(tenbillion)rublesorits Euro. Ceilingamountoftransaction’sconclu- billion) rublesoritsequivalentinUSdollars Amount ofcreditlimit:upto10000(ten transaction’s conclusion. exchange rateatthedateofcorresponding lent inUSdollarsorEuroattheBankofRussia conclusion: 20000rublesoritsequiva- each ofLendersCeilingamounttransaction’s rubles oritsequivalentinUSdollarsEurowith Amount ofcreditlimit:upto10000 transaction roving the minutes app- GMS/BD No. of 11 14 13 12 No. rial Se- essential terms) Transactions (subjectmatteroftransactionandits with power,andBuyerisobligedtoacceptpayforit. Subject ofTransactions:Sellerisobligedtoprovide(supply)Buyer ity (power)market,NPOMarketCouncil,JSCATS,SOUES. JSC INTERRAOUESandparticipantsofthewholesaleelectric- Transactions ofpurchaseandsale(supply)powerbetween of charging. plus VATinaccordancewithremunerationratevalidatthemoment period ofAgreementintheamount60000rublespermonth, service costofthemanagementorganizationforremainedvalidity Subject ofAgreement:todeterminetheconstantcomponent d/d 06.07.2009betweenJSCINTERRAOUESandOGK-1. single executivebodyofJSCOGK-1tomanagementorganization Additional AgreementtotheonTransferofAuthority obligations withinOptionAgreement. the Agreement:untilSilverteriaHoldingsLtd.completelyperformsits and Creditor(hereinafterreferredtoasOptionAgreement).Termof (put option)concludedbetweenSilverteriaHoldingsLtd.Company teria HoldingsLtd.itspaymentobligationswithinoptionagreement and severallyresponsibletotheCreditorforfulfillmentbySilver- (Vnesheconombank). SubjectoftheAgreement:Guarantorisjointly Corporation BankofDevelopmentandForeignEconomicAffairs Suretyship AgreementbetweenJSCINTERRAOUESandState UES intheoperationdepartmentofJSCJSCBRUSSIA. currency andrublessaleintosettlementaccountofJSCINTERRAO of theBankincludingenrollmentincomeresultedfromforeign from the JSC INTER RAO UES accounts in the operation department to write-offmonetaryfundsand/orsellforeigncurrencyandrubles operation departmentoftheBank,JSCJSCBRUSSIAhasright acceptance-free agreement(acceptance-freeagreements)inthe RAO UESsettlementaccount(settlementaccounts)pointedinthe matured. InthecaseoflackmonetaryfundsinJSCINTER credit, forfeits,otherpayments),whichpaybackperiodhasalready (including thesumofprincipaldebt,interestforusing concluded betweenJSCINTERRAOUESandJSCBRUSSIA purpose ofrepaymentdebtsresultedfromcreditagreements (settlement accounts)inoperationdepartmentoftheBankfor UES write-offanymonetaryfundsincomingtosettlementaccount freely andwithoutanyadditionalinstructionsfromJSCINTERRAO ment: JSCJSCBRUSSIAisentitledtoundisputedly,acceptance- RAO UESaccounts,placedinJSCJSCBRUSSIA.SubjectofAgree- acceptance-freely write-offthemonetaryfundsfromJSCINTER Agreement thatletsJSCJSCBRUSSIAtoundisputedlyand Market Council. Market council —NPO UES; ATS —JSCATS; operator — JSCSO market; System pant ofthewholesale or Buyer —partici- INTER RAO UES; Seller Seller orBuyer —JSC JSC OGK-1 RAO UESCompany — tion — JSCINTER Management organiza- (Vnesheconombank) eign EconomicAffairs Development andFor- Corporation Bankof Creditor — State INTER RAOUES Guarantor — JSC JSCB RUSSIA RAO UESBank —JSC Client — JSCINTER Parties Rosatom State Corporation Capital 3. CJSCINTERRAO goatom 2. JSCConcernRosener- Rosatom 1. StateCorporation Capital 3. CJSCINTERRAO goatom 2. JSCConcernRosener- Rosatom 1. StateCorporation JSCB RUSSIA) Board ofDirectorsJSC relative istheChairmanof chuk B.Y.(hisimmediate INTER RAOUESKoval- agement BoardofJSC Acting ChairmanofMan- Parties concerned Price transaction’s conclusion:60,000,000,000rubles. of transaction’sconclusion.Ceilingamount Federation No.643d/d24.10.2003,atthedate Decree oftheGovernmentRussian Regulations intransitionperiodapprovedby ance withWholesaleElectricity(Power)Market defined accordingtoprices,setinaccord- The priceofpowerwithineachtransactionis 60 000permonth,VATexclusive. accumulated interests. Option Agreementwithannualcapitalizationof sum ofputoptionexerciseinaccordancewith and tothedateofreceptionbyCreditor of pointedJSCINTERRAOUESblockshares annually fromthedateofpurchasebyCreditor charging plusonepercentperannum, the BankofRussia,operatingondateits interest rateintheamountofofficialbank amount of21278000rublesincreasedby shares underdirectedplacementinthetotal placement ofJSCINTERRAOUESsupplement Creditor fromJSCINTERRAOUESintermsof number of529303482587shares,boughtby shares belongingtoJSCINTERRAOUESinthe from Creditorofordinarypersonaluncertified ment (putoption)inthepartofredemption ria HoldingsLtd.obligationwithinOptionAgree- Obligation guarantiedbysuretyship —Silverte- transaction’s conclusion. exchange rateatthedateofcorresponding lent inUSdollarsorEuroattheBankofRussia 20,000,000,000 (tenbillion)rublesoritsequiva- Ceiling amountoftransaction’sconclusion: fee inthetotalamountofupto12%perannum. than sumofinterestpaymentsandcommission sponding transaction’sconclusionandnomore of Russiaexchangerateatthedatecorre- its equivalentinUSdollarsorEuroattheBank SIA, butnomorethan10000rublesor between JSCINTERRAOUESJSCBRUS- resulted fromcreditagreementsconcluded The priceoftheagreementequalstodebt transaction roving the minutes app- GMS/BD No. of
137 ANNUAL REPORT JSC RAO UES / 2010 138 ANNUAL REPORT JSC RAO UES / 2010 16 Transactions approvedattheMeetingsofBoardDirectors 18 17 No. rial Se- essential terms) Transactions (subjectmatteroftransactionandits within Contract.Offer priceofshares —1200rublespereach. remains validuntilcompleteperformance ofallparties’obligations Contract becomesvalidfromthedateofits signingbypartiesand with nominalvalueof1000rublespereach. TermofContract:The placed underprivateplacementintheamount of1600000shares equity privateuncertifiedsharesofCJSC INTER RAOUESBaltic pass andBuyerisobligedtoacceptpay followingsecurities: INTER RAOUESBaltic.SubjectofContract: Sellerisobligedto of 1600000shares,betweenJSCINTER RAOUESandCJSC RAO UESBalticplacedunderprivateplacement intheamount Contract ofpurchaseandsalesupplementsharesCJSCINTER from thedateofContractconclusion. the dateofContractconclusion.TermAgreements:until3years in amountofupto1,2billionrublesfortheperioduntil3yearsfrom RAO UESBalticdelayinpaymentofsharesboughtwithinContract Baltic (Contract). Subject of Agreement: to establish for CJSC INTER cessionary isJSCINTERRAOUES)andCJSCUES d/d 10.04.2008unnumb.betweenCJSCINTERRAOUES(which Additional AgreementtoContractofpurchaseandsaleshares Euro. TermofSuretyship:unlimited. maximum amountofBankguaranteeisnomorethan30000 guarantee isRAONordicOy,termofBankunlimited, antee isNASDAQOMXStockholmAB(Norway),principalofBank conditions ofBankguarantee.Herewith:Beneficiaryguar- other paymentsandcommissionfeeinaccordancewithterms in theamountof30000Euroaswellreimbursementany Nordic Oy’sobligationsofcompensationthesumBankguarantee is obligedtoberesponsibleCreditorforperformanceofRAO UES andNordeaBankFinlandPlc.SubjectofSuretyship:Guarantor Suretyship ContractforRAONordicOybetweenJSCINTER Baltic CJSC INTERRAOUES RAO UES;Seller — Buyer — JSCINTER Baltic CJSC INTERRAOUES RAO UESBuyer — Seller — JSCINTER Bank FinlandPlc. Creditor — Nordea INTER RAOUES, Guarantor — JSC Parties UES) shares ofJSCINTERRAO more than20%ofvoting ated personsjointlyown agreement). beingaffili- UES Baltic(partyunder 1.3. CJSCINTERRAO Concern Rosenergoatom shareholder 1.2.JSC Corporation Rosatom INTER RAOUES:State 1.1. ShareholdersofJSC UES) shares ofJSCINTERRAO more than20%ofvoting ated personsjointlyown agreement). beingaffili- UES Baltia(partyunder 1.3. CJSCINTERRAO Concern Rosenergoatom shareholder 1.2.JSC Corporation Rosatom INTER RAOUES:State 1.1. ShareholdersofJSC Board ofRAONordicOy) Chairman ofManagement D. (atthesametime of DirectorsMikalayunas 2.1. theMemberofBoard of JSCINTERRAOUES). than 20%ofvotingshares persons jointlyownover UES Baltic (being affiliated 1.3. CJSCINTERRAO Concern Rosenergoatom shareholder 1.2.JSC Corporation Rosatom INTER RAOUESState 1.1. ShareholdersofJSC Parties concerned Price 1,920,000,000 rubles. Up to1200000rubles guarantee. of 0,2%chargingonmaximumsumBank month. Nonrecurrentcommissionfeeinamount sum isnotpossiblemoreoftenthanonceper each change.ThechangeofBankguarantee guarantee sumisintheamountof250Europer annum. CommissionfeeofchangeBank clause 15.4.1.2cannotbemorethan2%per increase ofcommissionfeeinaccordancewith on financialmarkets.Herewithnonrecurrent fee amount.Inthecaseofchangesituation creased bymorethan2,5%offixedcommission accordance withclause15.4.1.1cannotbein- Herewith commissionfeeforBankguaranteein commission feeincreasesby2%perannum. own equitytototalassetsislessthan30% — fee increasesby2%perannum,Proportionof coverage rationislessthan3,5 —commission sion feeincreasesby2,5%perannum,Interest debt toEBITDAismorethan4,5 —commis- fee increasesby2%perannum,Proportionof than 4.2butlessorequalto4.5 —commission annum, ProportionofdebttoEBITDAismore to 4,2 —commissionfeeincreasesby1%per to EBITDAismorethan3,5butlessorequal IFRS reportingofGuarantor:Proportiondebt estimated onthebasisofconsolidatedannual by Guarantorofthefollowingfinancialindicators lowing cases: —inaccordancewithfulfillment commission feeatmostonceperyearinthefol- Bank isentitledtoreconsidertheamountof annum chargingontheBankguaranteesum. Bank guaranteeintheamountofupto1,5%per fee paidregularlyduringthevalidityperiodof of thefollowingcommissionfee: — Nordic OyinfavorofNordeaBankFinlandPlc well asobligationsonreimbursementbyRAO guarantee intheamountof30000Euroas Bank ofmonetaryfundssumpaidwithin Plc. includingobligationsoncompensationto of RAO Nordic Oy owed to Nordea Bank guaranteed comprehensivelycounterobligation Suretyship ofJSCINTERRAOUESwillbe Finland d/d 01.02.2010 Minutes No.23 d/d 01.02.2010 Minutes No.23 d/d 01.02.2010 Minutes No.23 transaction roving the minutes app- GMS/BD No. of 19 No. rial Se- 2009 November-December December 2010. conclusion ofcorrespondingtransactiontill of electricenergysupply:fromthedate energy sipply:500000kWh —Period Maximum plannedquantityofelectric Kazakhstan totheRussianFederation: — of electricenergyfromtheRepublic For transactionsofpurchaseandsale Second pricingzone First pricingzone January-December 2010 First pricingzone November-December 2009 2010 January-December Supply period Federation (P)M oftheRussian Pricing ZonesWE essential terms) Transactions (subjectmatteroftransactionandits ing thetransferperiodandBuyerisobligedtoacceptpayforit. Seller isobligedtotransfer(provide)forBuyerelectricalenergydur- INTER RAOUESandKazenergoresursLtd.SubjectofTransactions: Transactions ofpurchaseandsaleelectricenergybetweenJSC the purposeofexportandmustamountto: sian Federation,wherepurchaseofelectricenergyisperformedfor zone ofwholesaleelectricity(power)market(WE(P)M)theRus- kWh — Priceofelectricenergyisdefineddependingonpricing electric energysipply:460000(fourhundredandsixtymillion) ing transactiontillDecember2010. —Maximumplannedquantityof electric energysupply:fromthedateofconclusioncorrespond- Russian FederationtotheRepublicofKazakhstan. —Period For transactionsofpurchaseandsaleelectricenergyfromthe riod (within trans- no lessthan1.31 no lessthan1.74 actions specified structure ofelectricitysupply electricity during period ofcalen- accounting pe- corresponding of transitreplacedlogistic Fixed priceof fixed priceof electricity for formed underrealization Within transactionsper- dar year no morethan0.78 no morethan1.00 - Electricity Price,rubles/kWh Electricity Price,rubles/kWh JSC INTERRAOUES Seller — KazenergoresursLtd.Buyer each houroftwenty- of priceelectricity (within transactions specified squaring Electricity priceon accounting period by thehourorder) nolessthan0,65 four hoursduring price ofelectricityforcorrespond- within transactionsspecifiedfixed ing periodofcalendaryear - INTER RAOUES). voting sharesofJSC over than20%of persons jointlyown Baltia (beingaffiliated CJSC INTERRAOUES Rosenergoatom 1.3. 1.2. JSCConcern Rosatom shareholder State Corporation JSC INTERRAOUES: 1.1. Shareholdersof zenergoresurs Ltd. RAO UESBuyer —Ka- Seller — JSCINTER Parties of transitreplaced Price ofelectricity during realization no morethan1.20 logistic structure no lessthan1.4 no lessthan1.3 - 01.02.2010 Minutes No.23d/d Parties concerned is 121000rublesincludingVAT. proximate priceofthetransactiontill30.06.2010 (18%) — 1677rubles97kopeck.Thetotalap- ment is11000rubles00kopeckincludingVAT Monthly sumofpaymentforusageequip- 000 rublesatthepriceof1kWh. pointed supplyperiodcannotexceed400000 of KazakhstantotheRussianFederationduring and saleofelectricenergyfromtheRepublic The totalamountoftransactionspurchase rubles December 2010cannotexceed600000 ing thesupplyperiodfromNovember2009till Federation totheRepublicofKazakhstandur- and saleofelectricenergyfromtheRussian The totalamountoftransactionspurchase Price d/d 01.02.2010 Minutes No.23 transaction roving the minutes app- GMS/BD No. of
139 ANNUAL REPORT JSC RAO UES / 2010 140 ANNUAL REPORT JSC RAO UES / 2010 22 25 24 23 No. rial Se- 416 661,57USDrespectively. Belarus forJuneandOctober2009inthe amountof59907,53and energy transmissionviaInterconnectedPower SystemofRepublic the RussianFederationlegislation; —topayforservicesofelectric 3,36017 USD/ths.kWhandplusVATcalculatedinaccordancewith of thepricefortransmissionwithinContractor Contractinamountof the RepublicofBelarusinamount105(onehundredandfive)% price forelectricenergytransmissionviasystemof Agreement No.22willenablethefollowing: —tosetservices conditions accordingtotheSupplement.TheconclusionofAdditional as transactioninwhichoccursagreementonessentialandother February 19,2004betweenJSCINTERRAOUESandGC sion viaelectricenergysystemnetworksofforeigncountriesd/d Contract No.1055fortheorganizationofelectricenergytransmis- approve theconclusionofAdditionalAgreementNo.22toService concluded betweenJSCINTERRAOUESandFGCUES.To system networksofforeigncountriesd/dFebruary19,2004, the organizationofelectricenergytransmissionvia Additional AgreementNo.22totheServiceContractNo.1055for and twentymillion)kWh.Termofsupply:untilDecember31,2011. quantity ofsuppliedelectricenergy —720000(sevenhundred and Buyerisobligedtoacceptpayforit.Maximumplanned transfer (supply)forBuyerelectricalenergyduringtheperiod and MtkwariEnergeticLtd.SubjectofContract:Sellerisobligedto Contract ofsupplyelectricenergybetweenJSCINTERRAOUES (return) Act. ceptance ActtothedatewhenPartiessignDeliveryandAcceptance defined fromthedatewhenPartiessignEquipmentTransferandAc- of Contract:untilApril30,2010Thetermequipmentusageis for usagebythirdpersonswithoutLessor’swrittenpermission.Term the equipment.Lesseedoesnothaverighttopassequipment purposes inaccordancewithconstructionalandoperationaldataof to asequipment).EquipmentisprovidedLesseeforproduction Rostelecom (Tejkovo,PershynskayaSt.,48-a)(hereinafterreferred JSC INTERRAOUES(Komsomolsk,KomsomolskayaSt.,1) — (Komsomolsk, SovetskayaSt.,7) —IvanovoHRSGbranchofficeof fiber-optic communicationlineonthesegmentofJSCCentrTelecom HRSG branchofficeofJSCINTERRAOUES(LetterA1-A2)and pernail multiplexerplacedinareamaintenancebuildingofIvanovo with E1,E&M,Rs232boards; —Transportmultiplexer32*30;-Su- for temporaryusethefollowingequipment: —Accessmultiplexer JSC Stend.SubjectofContract:LessorisobligedtoassignLessee Contract ofleaseequipmentbetweenJSCINTERRAOUESand date whenPartiessignDeliveryandAcceptance(return)Act. when PartiessignEquipmentTransferandAcceptanceActtothe June 30,2010Thetermofequipmentusageisdefinedfromthedate persons withoutLessor’swrittenpermission.TermofContract:until does nothavetherighttopassequipmentforusagebythird with constructionalandoperationaldataoftheequipment.Lessee ment isprovidedtoLesseeforproductionpurposesinaccordance amount of2boards(hereinafterreferredtoasequipment).Equip- Pershynskaya St.,48-a)andTransport-32x30-4E1subsetboardin tions centerofinstrumentalworkshopJSCRostelecom(Tejkovo, RAO UES(Komsomolsk,KomsomolskayaSt.,1)tothecommunica- building (LetterA2,A3)ofIvanovoHRSGbranchofficeJSCINTER center ofIvanovoGRESmainbuilding(LetterA3),areamaintenance telecommunication cableonthesegmentfromcommunications obliged toassignLesseefortemporaryuseonestrandoffiber-optic JSC INTERRAOUESandStand.SubjectofContract:Lessoris Contract ofleasefiber-optictelecommunicationcablebetween essential terms) Transactions (subjectmatteroftransactionandits FGC UES Contractor — JSC INTER RAOUES Customer — JSC Mtkwari Energetic Ltd. RAO UESBuyer — Seller — JSCINTER Lessee — JSCStand HRSG branchoffice) RAO UES(Ivanovo Lessor — JSCINTER Lessee — JSCStand HRSG branchoffice); RAO UES(Ivanovo Lessor — JSCINTER Parties UES) of DirectorsJSCFGC the membersofBoard the sametimeactingas and — S.I.Shmatko(at Dod, —S.V.Maslov INTER RAOUES: —E.V. of DirectorsJSC The membersofBoard of JSCINTERRAOUES) than 20%ofvotingshares persons jointlyownover UES Baltia (being affiliated 1.3. CJSCINTERRAO Concern Rosenergoatom share holder1.2.JSC Corporation Rosatom INTER RAOUES:State 1.1. ShareholdersofJSC of JSCINTERRAOUES) than 20%ofvotingshares persons jointlyownover UES Baltia (being affiliated 1.3. CJSCINTERRAO Concern Rosenergoatom shareholder 1.2.JSC Corporation Rosatom INTER RAOUES:State 1.1. ShareholdersofJSC of JSCINTERRAOUES) than 20%ofvotingshares persons jointlyownover UES Baltic (being affiliated 1.3. CJSCINTERRAO Concern Rosenergoatom shareholder 1.2.JSC Corporation Rosatom INTER RAOUES:State 1.1. ShareholdersofJSC Parties concerned Price thousand kWhwithoutVAT. of Baltiathatequals3,36017USdollarsperone UES andthirdpartiesinIPSofBelarusPS electric energyconcludedbetweenJSCFGC Contract ofpurchaseandsale(supply) 105% ofthepricefortransmissionunder 0,075 USdollarsper1kWh. lion) USdollarsunderthepriceofnomorethan amount ofnomorethan54000(fiftyfourmil- the wholevalidityperiodofContractin of transferred(supplied)electricenergyduring The priceoftheContractequalstototalcost till 30.04.2010is415,000rublesincludingVAT. Act. ThetotalapproximatepriceoftheContract return accordingtoTransferandAcceptance equipment transfertothedayof Rental paymentsarechargedfromthedayof including VAT18% —4576rubles27kopecks. tion withequipmentinamountof30000rubles obliged todepositasinglepaymentforconnec- 5,338 rubles98kopecks.MoreoverLesseeis 35,000 rublespermonthincludingVAT(18%) — Monthly sumofpaymentforequipmentusageis d/d 01.02.2010 Minutes No.23 d/d 01.02.2010 Minutes No.23 d/d 01.02.2010 Minutes No.23 d/d 01.02.2010 Minutes No.23 transaction the approving BD minutes No. ofGMS/ 26 30 29 28 27 No. rial Se- Contract: until28.02.2010. electric powerundertheContract:nomorethan100MW.Termof under theContract:nomorethan1000MWhDeliveryquantityof is obligedtoacceptandpayforit.Deliveryquantityofelectricenergy to ownershipofBuyerelectricenergyandpower, RusHydro. SubjectofContract:Sellerisobligedtotransfer(supply) electric energyandpowerbetweenJSCINTERRAOUES Non-stock, non-regulated,bilateralcontractofpurchaseandsale plement. agreement onessentialandotherconditionsaccordingtotheSup- JSC ATSandINTERRAOUESastransactionsinwhichoccurs electric energyandpowerbetweenJSCEnergosbytRostovenergo, additional agreementtoregulatedcontractofpurchaseandsale JSC ATSandINTERRAOUES.Toapprovetheconclusionof electric energyandpowerbetweenJSCEnergosbytRostovenergo, Additional Agreementtoregulatedcontractofpurchaseandsale plements. agreement onessentialandotherconditionsaccordingtotheSup- INTER RAOUESasfewinter-relatedtransactionsinwhichoccurs energy andpowerbetweenDonenergosbytLtd.,JSCATS agreements toregulatedcontractsofpurchaseandsaleelectric and JSCINTERRAOUES.Toapprovetheconclusionofadditional of electricenergyandpowerbetweenDonenergosbytLtd.,JSCATS Additional agreementstoregulatedcontractsofpurchaseandsale all parties’obligationswithinContract. its signingbypartiesandremainsvaliduntilcompleteperformanceof Term ofAgreement:TheAgreementbecomesvalidfromthedate unnumb. d/d10.11.2009intheamountof127209919,73rubles. same kindasCessionary’stoCedantresultedfromLoanAgreement Assignment Agreementterminatesbyreceivingcounterclaimsofthe ary’s obligationtopayforcostoftheclaimrightwithinClaim that equalto2,792%ofJSCTGK-11authorizedcapital.Cession- 1055406226237) atthenominalamountof0,01rublespereach, one) ofequitypersonaluncertifiedsharesJSCTGK-11(PSRN million fivehundredandtwentytwothousandssixninety Cedant:14 318522691(forteenbillionthreehundredandeighteen that RescavaCompanytransfersthefollowingtoownershipof b) RescavaCompanyandc)DonalinkCompany,totheextent INTER RAOCapital(previousname —CJSCUESBaltic), contract unnumb.d/d11.11.2009concludedbetweena)CJSC accepts therightofclaimfromRescavaCompanywithinswap Baltia) SubjectofAgreement:CedantsurrendersandCessionary CJSC INTERRAOCapital(previousname —UES Claim AssignmentAgreementbetweenJSCINTERRAOUESand conditions accordingtotheSupplement. Kubanenergo astransactioninwhichoccursagreementonessential for technologicalconnectionbetweenJSCINTERRAOUESand and JSCKubanenergo.ToapprovetheconclusionofContract Contract fortechnologicalconnectionbetweenJSCINTERRAOUES essential terms) Transactions (subjectmatteroftransactionandits INTER RAOUES dro Buyer —JSC Seller — JSCRusHy- tor — JSCATS system administra- RAO UESTrading Seller — JSCINTER gosbyt Rostovenergo Buyer — JSCEner- ATS administrator — JSC UES Tradingsystem JSC INTERRAO gosbyt Ltd.Seller — Buyer — Donener- INTER RAOUES Cessionary — JSC INTER RAOCapital. Cedant — CJSC Kubanenergo Contractor — JSC INTER RAOUES Applicant — JSC Parties JSC RusHydro) Management Boardof (being thememberof RAO UES —Y.V.Sharov ment BoardofJSCINTER the memberofManage- Board ofJSCRusHydro); chairman ofManagement (holding thepostof RAO UES —E.V.Dod Directors ofJSCINTER the memberofBoard rectors ofJSCRusHydro); members ofBoardDi- same timebeingthe and S.V.Maslov(atthe RAO UES —S.I.Shmatko Directors ofJSCINTER The membersofBoard of JSCATS) bers ofBoardDirectors the sametimemem- V.M. andMaslovS..(at RAO UES —Kravchenko Directors ofJSCINTER The membersofBoard of JSCATS) bers ofBoardDirectors the sametimemem- V.M. andMaslovS..(at RAO UES —Kravchenko Directors ofJSCINTER The membersofBoard of JSCINTERRAOUES) over 20%ofvotingshares ated personsjointlyown agreement) (beingaffili- Capital (partyunder 1.3. CJSCINTERRAO Concern Rosenergoatom shareholder 1.2.JSC Corporation Rosatom INTER RAOUES:State 1.1. ShareholdersofJSC RAO UES) of DirectorsJSCINTER time thememberofBoard Kravchenko. (atthesame Kubanenergo — V.M. of DirectorsJSC The memberofBoard Parties concerned Price accordance withwholesalemarketregulations. Vat andpublishedbyCommercialoperatorin nary weightedaveragepricewasdefinedwithout in correspondingaccountingperiod.Theprelimi- power for2010yearwithinthefirstpricingzone resulted fromCompetitiveprocedureofelectric weighted averagepriceofelectricpower responding accountingperiodandpreliminary Russia, togetherwithseasonalityindexincor- in 2010,approvedbyFederalTariffServiceof tion togroupofdeliverypointsJSCRusHydro basis ofdividingbytwosumHPPrateinrela- without VATand —powercostdefinedonthe on thefollowing: —700,00rublesper1MWh (supplied) electricenergyandpowerbased The Contractpriceequalsthecostoftransferred 16,899,414 rubles62kopecksincludingVAT. 9 031399rubles84kopecksincludingVAT. rubles. Assignment ofclaimscost:127,209,919.73 der ofFTSRussiaNo.201-e/1d/d21.08.2009. connection toelectricnetworksconfirmedbyOr- Definition ofchargeamountfortechnological individual project,isdefinedinaccordancewith logical connectiontoelectricnetworkunder The appropriateamountofchargefortechno- d/d 24.02.2010 Minutes No.24 d/d 24.02.2010 Minutes No.24 d/d 24.02.2010 Minutes No.24 d/d 24.02.2010 Minutes No.24 d/d 01.02.2010 Minutes No.23 transaction the approving BD minutes No. ofGMS/
141 ANNUAL REPORT JSC RAO UES / 2010 142 ANNUAL REPORT JSC RAO UES / 2010 31 32 No. rial Se- 31.12.2010. pay forit.Termofsupply:fromthedatecontract’sconclusiontill energy andelectricpower,Buyerisobligedtoaccept of Contracts:Sellerisobligedtotransfer(supply)forBuyerelectric Contracts ofpurchaseandsaleelectricenergypowerSubject conditions accordingtotheSupplement. JSC FGCUESasparty-interestedtransactiononessentialandother system d/dDecember25,2003betweenJSCINTERRAOUESand transmission vianetworksofsinglefederal(all-Russia)electricenergy the ServiceContractNo.968fororganizationofelectricenergy UES. ToapprovetheconclusionofAdditionalAgreementNo.25to 25, 2003,concludedbetweenJSCINTERRAOUESandFGC federal (all-Russia)electricenergysystem(SFEES)d/dDecember organization ofelectricenergytransmissionvianetworkssingle Additional AgreementNo.25totheServiceContractNo.968for essential terms) Transactions (subjectmatteroftransactionandits TGK-1 Irkutskenergo; JSC pricing zone:JSC Concern. Second JSC Energoatom Stand; JSCTGK-1; JSC RusHydro; GRES; JSCOGK-1; JSC Nijnevartov JSC Mosenergo; Generating Company; TGK; JSCKurgan zone: JSCVolga Buyer: Firstpricing RAO UESSelleror Buyer: JSCINTER parties: Selleror Company. Forthe Tomsk PowerSupply Chemical Plant;JSC zone: JSCSiberian Second pricing ergoSbyt North-West. goSbyt; JSCAtomEn- Ltd.; JSCAtomEner- Company; RN-Energo Kuban PowerSupply pricing zone:JSC RAO UESBuyer:First Seller — JSCINTER For theparties: FGC UES Contractor — JSC INTER RAOUES Customer — JSC Parties pricing zones party infirstorsecond Depending oncounter UES) of DirectorsJSCFGC the membersofBoard (at thesametimebeing Maslov andS.I.Shmatko RAO UESE.V.Dod,S. Directors ofJSCINTER The membersofBoard Parties concerned Price 1,700,000,000 rublesincludingVAT. and power,concludedbyJSCINTERRAOUES: tracts) ofpurchaseandsaleelectricenergy The priceofeachcontract(fewrelatedcon- legislation. paid asstipulatedbytheRussianFederation ance withtheContract.Moreover,Vatshouldbe losses ofelectricpowerarecalculatedinaccord- by Federallawbasis.Thestandardprocess the rightofownershiporonotherprovided the powersupplyfacilitiesthatbelongtoFGCon SFEES occurwhenelectricenergytransmitsto process lossesofelectricenergy(power)within ance withtheContract. —costofstandard for servicescalculations,estimatedinaccord- within allexportdirections,acceptedbyParties FTS ofRussia;paidpowerquantitysupply supply facilitiesincludedinSFEESaffirmedby transmission’s servicecostinsupportofpower multiply tariffratebythefollowing:electricenergy ties includedinSFEES,definedonthebasisof transmission insupportofpowersupplyfacili- the following: —servicecostofelectricenergy The priceisdefinedonthebasisofaddition d/d 26.04.2010 Minutes No.26 d/d 26.04.2010 Minutes No.26 transaction the approving BD minutes No. ofGMS/ 33 35 34 No. rial Se- of JSCINTERRAOUES credit disbursementperiod.Goalofcredit:replenishworkingcapital change. Planofcreditredemption:nolaterthanthelastday of thebankRussiachangesinamountnomorethansuch issued tranchescanbeunilaterallychangedbyCreditorifofficialrate credit. Interestratewithinbalanceoftheeffectivedebtornewly annum includingthesumofinterestpaymentsandfeesunder till 3yearsInterestrateundertheContract:nomorethan10,5%per terms andconditions,prescribedbytheContract.TermofContract: return Creditorreceivedcreditandpayinterestsforusingthemon (one billionfivehundredmillion)rubles,andBorrowerisobligedto with thelimitofindebtednessinamountupto1,500,000,000 to giveBorrowermonetaryfundsontermsofrevolvinglinecredit UES andJSCJSCBRUSSIA.SubjectofContract:Creditorisobliged Contract onopeningofrevolvingcreditlinebetweenJSCINTERRAO the ContractonrevolvingcreditlineconcludedwithJSCVTBBank. of allJSCINTERRAOUESobligationsowedtoVTBBankwithin ing bythePartiesandbecomesinvalidatmomentoftermination matured. TheAgreementbecomesvalidfromthemomentofitssign- forfeits, otherpayments),whichpaybackperiodhasbeenalready (including thesumofprincipaldebt,interestforcreditusage, concluded betweenJSCINTERRAOUESandVTBBank amount of1500000(onebillionfivehundredmillion)rubles, Contract onrevolvingcreditlinewithlimitofindebtednessinthe VTB Bankforthepurposeofrepaymentdebtsresultedfrom monetary fundsincomingtothesettlementaccountplacedinJSC any additionalinstructionsfromJSCINTERRAOUESwrite-off VTB Bankisentitledtoundisputedly,acceptance-freelyandwithout UES accountsplacedinJSCVTBBank.SubjectofAgreement: acceptance-freely writeoffthemonetaryfundsfromJSCINTERRAO Agreement thatJSCVTBBankisentitledtoundisputedlyand indebtedness withinprincipaldebtforpreviouscalendarquarter. JSC Alfa-bank)intheamountof50%weightedaveragesum performed onaccountsinJSCVTBBank(includingcashinflowsfrom tal liabilitiesofBorrower:maintenancequarterlyturnovers(profits) ties includingpurchaseofsharesatsecondarymarkets.Supplemen- deposits placement;investmentsinauthorizedcapitalsofthirdenti- loans; replenishmentofaccounts,openedinotherbanksexcluding ment) ofcurrentliabilitiesowedtothirdpersonswithincreditsand acquisition, repairs,modernizationoffixedassets;refunding(repay- current activityincludingthefollowing:replenishworkingcapital; credit disbursementperiod.Goalofcredit:financingBorrower’s change. Planofcreditredemption:nolaterthanthelastday of thebankRussiachangesinamountnomorethansuch issued tranchescanbeunilaterallychangedbyCreditorifofficialrate credit. Interestratewithinbalanceoftheeffectivedebtornewly annum includingthesumofinterestpaymentsandfeesunder 3 yearsInterestrateundertheContract:nomorethan10,5%per and conditions,prescribedbytheContract.TermofAgreement:till Creditor receivedcreditandpayinterestsforusingthemonterms billion fivehundredmillion)rubles,andBorrowerisobligedtoreturn the limitofindebtednessinamountupto1,500,000,000(one give Borrowermonetaryfundsontermsofrevolvinglinecreditwith UES andJSCVTBBank.SubjectofContract:Creditorisobligedto Contract onopeningofrevolvingcreditlinebetweenJSCINTERRAO essential terms) Transactions (subjectmatteroftransactionandits RUSSIA Creditor — JSCJSCB INTER RAOUES Borrower — JSC JSC VTBBank RAO UESBank — Client — JSCINTER Bank Creditor — JSCVTB INTER RAOUES Borrower — JSC Parties RUSSIA) of DirectorsJSCJSCB ing theChairmanofBoard JSC INTERRAOUES(be- of BoardDirectors Father ofactingChairman board ofJSCVTBBank) member ofSupervisory same timebeingthe Dvorkovich A.V.(atthe Corporation Rosatom — visory boardofState The memberofSuper- board ofJSCVTBBank) member ofSupervisory same timebeingthe Dvorkovich A.V.(atthe Corporation Rosatom — sory boardoftheState The memberofSupervi- Parties concerned Price 10,5% perannum. payments andfeesinthetotalamountofupto 1 500000rublesandthesumofinterest 10,5% perannum. payments andfeesinthetotalamountofupto 1 500000rublesandthesumofinterest 10,5% perannum. payments andfeesinthetotalamountofupto 1 500000rublesandthesumofinterest d/d 26.04.2010 Minutes No.26 d/d 26.04.2010 Minutes No.26 d/d 26.04.2010 Minutes No.26 transaction the approving BD minutes No. ofGMS/
143 ANNUAL REPORT JSC RAO UES / 2010 144 ANNUAL REPORT JSC RAO UES / 2010 36 37 No. rial Se- by thePartiesandremainsvaliduntilOctober30,2010. of Contract:TheContractbecomesvalidfromthedateitssigning 7.800 m.lineA/01-A/1ofaxis5-6withatotalarea156sq.m.Term GTC BlockNo.2ofHRSG-325(premisesNo.301-309)atthemark letter A4withatotalareaof152sq.m.; —partmainbuilding’s a totalareaof1579,5sq.m.;) —partwatchmanlodgebuilding, building atthemark0,00oflineB/A-G/Aaxis8,5-9),letterA8with axis 7till10(42m.)andfromlineBtoB/A(36m.),aswell of machineroominmainbuilding’sblockNo.2 —6m.fromaxisto with atotalareaof77,04sq.m.; —partmainbuildingGTC(1/3 by petrochemicals,aliquid(diesel)fuelpumpstation,letterA26-A30, part ofbuildingforgatheringandtreatmentsewagewaterpolluted city, KomsomolskayaSt.,1(hereinafterreferredtoasPremises): —a idential premiseshavinganaddressatIvanovoregion,Komsomolsk temporary possessionandusetoLesseewiththefollowingnon-res- and JSCStend.SubjectofContract:Lessorisobligedtoprovidein Contract ofleaseimmovableestatebetweenJSCINTERRAOUES RUSSIA. within theContractonrevolvingcreditlineconcludedwithJSCJSCB of allJSCINTERRAOUESobligationsowedtoJSCBRUSSIA ing bythePartiesandbecomesinvalidatmomentoftermination matured. TheAgreementbecomesvalidfromthemomentofitssign- forfeits, otherpayments),whichpaybackperiodhasbeenalready (including thesumofprincipaldebt,interestforcreditusage, concluded betweenJSCINTERRAOUESandJSCBRUSSIA the amountof1500000(onebillionfivehundredmillion)rubles, from theContractonrevolvingcreditlinewithlimitofindebtednessin JSC JSCBRUSSIAforthepurposeofrepaymentdebtsresulted any monetaryfundsincomingtothesettlementaccountplacedin without anyadditionalinstructionsfromJSCINTERRAOUESwrite-off JSC JSCBRUSSIAisentitledtoundisputedly,acceptance-freelyand UES accountsplacedinJSCJSCBRUSSIA.SubjectofAgreement: acceptance-freely writeoffthemonetaryfundsfromJSCINTERRAO Agreement thatJSCJSCBRUSSIAisentitledtoundisputedlyand essential terms) Transactions (subjectmatteroftransactionandits Lessee — JSCStand HRSG branchoffice) RAO UES(Ivanovo Lessor — JSCINTER JSC JSCBRUSSIA RAO UESBank — Client — JSCINTER Parties JSC INTERRAOUES) 20% ofvotingshares persons jointlyownover Capital (beingaffiliated 1.3. CJSCINTERRAO Concern Rosenergoatom shareholder 1.2.JSC Corporation Rosatom INTER RAOUES:State 1.1. ShareholdersofJSC RUSSIA) of DirectorsJSCJSCB ing theChairmanofBoard JSC INTERRAOUES(be- of ManagementBoard Father ofactingChairman Parties concerned Price 3 438544rubles21kopecksincludingVAT. 10,5% perannum. payments andfeesinthetotalamountofupto 1 500000rublesandthesumofinterest d/d 26.04.2010 Minutes No.26 d/d 26.04.2010 Minutes No.26 transaction the approving BD minutes No. ofGMS/ 38 No. rial Se- istration number 1 and seventy-five) of ordinary personal1 shares of JSC OGK-4 (stateof regordinary personal shares of236,454 JSC OGK-3 (two (state hundred registration and thirty-six numberpersonal thousand shares four ofhundred JSC OGK-2 and fifty-four)(statehundred registration and eighty-seven number thousand 1 JSCeight Rus hundred and thirty) of ordinaryfifty-four thousand two hundredbeneficially and five) ofowned ordinary by Trustor: personalINTER 2 354shares RAO 205 UES of(two (Trustee) million allthree rights hundredRAO certified UES.and Subject by the of following Agreement: securities JSCTrust Agreement concluded between JSC 1 nine) of ordinary personal sharesmillion of JSC three OGK-6 hundred (state and registration fifty-five thousandnumber nine hundred and seventy- JSC TGK-1 (state registration fournumber thousand 1 one hundred and fourty-one) of ordinary personal shares of 1 of ordinary personal shares ofmillion JSC TGK-2 four (state hundred registration and sixty-one number thousand seven hundred and eighty) TGK-4 (state registration numberthousand 1 five hundred and twenty-six)number of 1 ordinary personal sharesfive) of JSCof ordinary personal sharesmillion of JSC seven Mosenergo hundred (stateand thirty-two registration thousand seven hundred and fifty- istration number 1 and twenty-seven) of ordinary seventy-fourpersonal shares million of JSC three TGK-11 hundred 140,774,315,727(state and reg fifteen (one thousand hundred seven and hundredfortypersonal billion shares seven of JSChundred and number 1 and fifty-eight) of ordinary personal(thirty-eight shares million of JSC sixtyTGK-9 hundred(stateof registration andJSC ninety-nine thousand nineand hundred seventy-one thousand eight hundred)(state ofregistration ordinary personal number 1 sharesthousand five hundred and five)hundred of ordinary and thirty-nine personal sharesbillion of two JSC hundred TGK-6 and twenty-six million seventy JSC Bashkirenergo (state registrationeight thousand number three1-01-00012-A). hundred and232 sixty-six)448 366 (two of hundredordinary and personal thirty-twopersonal shares million ofshares four of JSChundred TGK-14 and hundred(state forty- registration and eighty-two number thousand 1 eight(state hundred registration and eight) number of ordinary1 and thirty-five) of ordinary personal1-02-00064-A); shares 990,435of JSC Yenisei(nine hundred ordinaryTGK (TGK-13) and personal ninety sharesthousand of fourJSC401 Kuzbasenergohundred 803 (four hundred (state andregistration one thousandshares number eight of JSC hundred TGK-11 and holding three) (state of 1 registration number 2 dinary personal shares of JSC TGK-11 holding (state registration number essential terms) Transactions (subjectmatteroftransactionandits ‑ ‑ ‑ ‑ 01 02 01 01 ‑ ‑ ‑ ‑ 50079 65106 10420 55392 V olga TGK (state registration number 1 H ‑ ‑ ydro (state registration number 1 01 01 ‑ ‑ ‑ ‑ A); 590,475 (five hundred and ninety thousand four hundred D); 21 974 141 (twenty-one million nine hundred and seventy- A); 1 338 732 755 (one billion three hundred and thirty-eight Е); 300,000 (three hundred thousand) of preferred personal ‑ ‑ 00085 56741 ‑ ‑ 02 01 ‑ ‑ А); 9,118,526 (nine million one hundred and eighteen D); 5,093 (five thousand and ninety-three) of ordinary ‑ ‑ 65104 12087 F ortum (state registration number 1 ‑ ‑ 01 02 ‑ ‑F D); 3,098,355,979 (three billion ninety-eight ); 300,000 (three hundred thousand) of or ‑ ‑ 55091 55093 ‑ 01 ‑ ‑ ‑ A); 9 000 071 800 (nine billion E); 5,582,808 (five million five 43069 F ‑ 01 GC UES (Trustor) convey JSC ‑ F ‑ 03388 01 GC UES and JSC INTER ‑ A); 439,226,070,505 (four ‑ ‑ 55038 01 ‑ ‑ 55113 D); 7,461,780 (seven ‑ E); 287 830 (two ‑ Е); 38,699,958 ‑ ‑ ‑ 01 02 ‑ 01 01 ‑ ‑ ‑ 55392 65105 ‑ 55090 22451 ‑ ‑ ‑ Е); - D); ‑F Е); - ); - FGC UES Contractor — JSC INTER RAOUES Customer — JSC Parties UES) of DirectorsJSCFGC the membersofBoard (at thesametimebeing Maslov andS.I.Shmatko RAO UESE.V.Dod,S. Directors ofJSCINTER The membersofBoard Parties concerned Price ruble perquarter. Sum ofremunerationTrusteeAmountsto3000 d/d 20.05.2010 Minutes No.27 transaction the approving BD minutes No. ofGMS/
145 ANNUAL REPORT JSC RAO UES / 2010 146 ANNUAL REPORT JSC RAO UES / 2010 39 41 40 No. rial Se- perform completelytheirobligations. framework andstructuredesign.TermofContract:untilParties Project onthepartofInvestors;3.managementProject’sfinancial elaborating documentationjustifyingusefulnessofinvestmentsinthe following cooperationwithpotentialinvestors;2.managementon 2 ofBalticNPP,includingthefollowing:1.searchmanagementand recruitment ofinvestorsinprojectconstructionpowerblocks1, in ordertoperformgroupofactionsondesigningfinancialmodeland for remunerationisoperatinginitsownnamebutatPrincipal’scost goatom Concern.SubjectofContract:AgentbytheorderPrincipal Agency ContractbetweenJSCINTERRAOUESandRosener- Contract: until30thofDecember2010. volume ofadditionallyprovidedgasisbeingsenttoPrincipal.Term ply period.WhileAgentisagreeingontheclaim,noticespecifying Principal toAgentnotlaterthan20dateofmonthprecedingthesup- transmission andgasdistributionsystems;Theclaimisdeliveredby ability offreeresourcesgas;availabilitytechnicalabilitiesgas fax, telephonedmessageshavingallstatedbelowconditions:avail- volumes ofgasshouldbelegalizedbymeansexchangeletters, claim additionalvolumesofgascanbesupplied.The UES. 2.BymutualconsentofPartiesinaccordancewithPrincipal’s concluded betweenIvanovoregiongasLtd.andJSCINTERRAO Agent withinGasSupplyAgreementNo.13-5-4444IVd/d01.11.2009 for Principal’sneedsisperformedunderrightsandobligationsof cu.m. Totalamountin2010 —1,4mln.cu.m.GaspurchasebyAgent III quarterof2010 —0,6mln.cu.m.,IV0,8mln. purchase forPrincipal’sneedsnaturalgasinthefollowingvolume: tion isoperatinginitsownnamebutatPrincipal’scostorderto Subject ofContract:1.AgentbytheorderPrincipalforremunera- Agency ContractbetweenJSCINTERRAOUESandStand. JSC Bashkirenergo, JSC Sangtudinskaya11 holding, JSC Kuzbasenergo, JSC Yenisei TGK (TGK-13), JSC TGK-14, ordinary personal shares of JSC120 Sangtudinskaya 780 (one hundred and twenty thousand seven hundred and eighty) of becomes valid from the moment suchof receiving acceptance of isthe not acceptance. received,of Russiaconcerning is needed such sharesand by Agreementthe timespecified of signing by Agreementthe Agreement the acceptanceby periodParties forof trust agreements establishedof Agreement by includinglegislation. extensions If formonth trustcan prior not of tobeshares themore date than of the Agreement validitytion or termination. if Trustor does The nottotal provide validityon Trusteesuch period extention with such at noticeleast 3at (three) analogicalleast 1months (one) period prior if toTrustee the date doesremains of not its provide validtermina during Trustor 1 (one)with rejectionyear.agement Agreement body notice of isParties automatically from the extendedmomentAgreement of for itsbecomes signing valid by afterParties its and approving by the last authorized man TGK-6, JSC JSC OGK-6, JSC TGK-1, JSC TGK-2, JSCtee Mosenergo,on Shares ofJSC JSC TGK-4, Rus JSC F enforced on Shares. Trustor actsrights as beneficiaryon Shares. Trustee’sparty under recovery ment’sAgreement. conclusionunder commitment does not can involve not be validity termination period of forTrustor’s remuneration ownershipto asto Shareshandle andrights Trustee certified on behalf numberby Shares. of 997E-1250R), Trustor Agree is obligedaforementioned during Agreementsecurities are hereinafter referred essential terms) Transactions (subjectmatteroftransactionandits iduciary management is connected only with exercise of rights by Trus V olga TGK, JSC TGK-9, JSC H ydro, JSC OGK-2, JSC OGK-3, JSC OGK-4, F H ortum, JSC TGK-11, JSC TGK- F PP-1. Term of Agreement: ederal Antimonopoly Service H PP-1 (state registration - - - - Concern JSC Rosenergoatom RAO UESPrincipal — Agent — JSCINTER JSC Stand RAO UESPrincipal — Agent — JSCINTER Parties INTER RAOUES) voting sharesofJSC jointly ownover20%of (being affiliatedpersons CJSC INTERRAOCapital (party totransaction)1.3. Rosenergoatom Concern shareholder 1.2.JSC Corporation Rosatom INTER RAOUES:State 1.1. ShareholdersofJSC JSC INTERRAOUES). 20% ofvotingshares persons jointlyownover Capital (beingaffiliated 1.3. CJSCINTERRAO Concern Rosenergoatom shareholder 1.2.JSC Corporation Rosatom INTER RAOUES:State 1.1. ShareholdersofJSC Parties concerned Price power blocks1,2ofBalticNPP. ment ofinvestorsinprojectconstruction actions ondesigningfinancialmodelandrecruit- the latterbecauseofperformancegroup Principal refundsAgent’sexpensesincurredby rubles monthly(includingVAT).Moreover, in the amount of 500 000 (five hundred thousand) JSC INTERRAOUESwithinContractisdefined The amountofAgent’sremunerationprovidedby payment ofgastransportationservices. Ltd aswellexpensesincurredbecauseof logistics supportservicesofIvanovoregiongas the latterbecauseofpaymentdistributionand Principal refundsAgent’sexpensesincurredby consumers oftheRussianFederation”.Moreover ated personssalabletoconsumersintheRF of gasextractedbyJSCGaspromanditsaffili- No.440-e/2 d/d18.12.2009“Onwholesaleprices stated byOrderofRussianFederalTariffService needs isexecutedbyPrincipalattheprice chased byAgentnaturalgasforthePrincipal’s of remunerationincludesVAT.Paymentpur- report providedbyAgent.Theaboveamount settlement accountofAgentontheground Principal bymeansoffundstransferonthe needs. Theremunerationispaidmonthlyby of gaspurchasedbyAgentforthePrincipal's of 20rublesperonethousandcubicmeters JSC StandwithinContractisdefinedonthebasis The amountofagentremunerationprovidedby d/d 22.06.2010 Minutes No.28 d/d 22.06.2010 Minutes No.28 transaction the approving BD minutes No. ofGMS/ 42 43 No. rial Se- until Partiesperformcompletelytheirobligations. (one millionandfivehundredthousand)shares.TermofTransaction: ordinary sharesplacedbysubscriptionintheamountof1500000 to acceptandpayforJSCEkibastuzskayaGRES-2PowerStation’s ownership ofordinarysharestoTransferee,andTransfereeisobliged Station. SubjectoftheTransaction:Emitterisobligedtotransfer tween JSCINTERRAOUESandEkibastuzskayaGRES-2Power Station’s supplementsharesplacedbysubscriptionconcludedbe- Transaction onacquisitionofJSCEkibastuzskayaGRES-2Power and SilverteriaHoldingsLimited. period ofoptionagreementconcludedbetweenVnesheconombank and SilverteriaHoldingsLimited.TermofAgreement:duringvalidity agreement plannedtobeconcludedbetweenVnesheconombank of businesscorrespondenceaddressedtoPrincipalunderoption 2. Agentguaranteesexerciseofdocumentflowincludingreceiving referred toasVnesheconombank)andSilverteriaHoldingsLimited. and ForeignEconomicAffairs(Vnesheconombank)(hereinafter to beconcludedbetweenStateCorporationBankofDevelopment tions ofPrincipal’sprocessagentunderoptionagreementplanned 1. AgentbytheorderofPrincipalforremunerationexercisesfunc- Holdings limited(ProcessAgentAgreement).SubjectofAgreement: Agency AgreementbetweenJSCINTERRAOUESandSilverteria essential terms) Transactions (subjectmatteroftransactionandits JSC INTERRAOUES Station; Transferee — bastuz GRES-2Power Emitter — JSCEki- Limited. Silverteria Holdings RAO UESPrincipal — Agent — JSCINTER Parties Station) Ekibastuz GRES-2Power Board ofDirectorsJSC time beingthememberof Y.V. Sharov(atthesame JSC INTERRAOUES Management Boardof 2.1. Thememberof JSC INTERRAOUES). 20% ofvotingshares persons jointlyownover Capital (beingaffiliated 1.3. CJSCINTERRAO Concern Rosenergoatom shareholder 1.2.JSC Corporation Rosatom INTER RAOUES:State 1.1. ShareholdersofJSC JSC INTERRAOUES) 20% ofvotingshares persons jointlyownover Capital (beingaffiliated 1.3. CJSCINTERRAO Concern Rosenergoatom shareholder 1.2.JSC Corporation Rosatom INTER RAOUES:State 1.1. ShareholdersofJSC Parties concerned Price 1 500000Kazakhstantenge. Silverteria HoldingsLimited. concluded betweenVnesheconombankand ity periodofoptionagreementplannedtobe hundred) USdollarsannuallyduringvalid- The amountofAgent’sremuneration:100(one d/d 22.06.2010 Minutes No.28 d/d 22.06.2010 Minutes No.28 transaction the approving BD minutes No. ofGMS/
147 ANNUAL REPORT JSC RAO UES / 2010 148 ANNUAL REPORT JSC RAO UES / 2010 44 45 No. rial Se- accordance withtermsandconditionsof corresponding agreement. preparation (accordingtopreviousparagraph) willshifttoLenderin on repaymentofloan,allrightsresults of worksondocumentsset ments inProject.IfBorrowerfailstoproperlyperformitsobligations ments inbanksorotherfinancialinstitutionsordertoattractinvest- to asProject)forthepurposesoffollowingdeliverythesedocu- facilities placedinMarielcity(RepublicofCuba)(hereinafterreferred of currentandprojectonconstructionnewTPPMaximoGomes property complex,bankfeasibilityreportofprojectonmodernization conclusion onmarketpriceappraisalofTPPMaximoGomes on technicalappraisalofTPPMaximoGomespropertycomplex, pay forworksonpreparationofdocumentssetaspartconclusion annum. TermofLoan:till2yearsTargetpurposeinorderto specified bythisAgreement.Interestrate:11(eleven)percentsper loan aswellpayinterestforuseonthetermsandconditions this decisionandBorrowerisobligedtoreturnLendertheamountof geted interest-bearingloanonthetermsandconditionsspecifiedby Mariel S.A.SubjectofAgreement:LenderprovidesBorrowerwithtar- Loan AgreementbetweenJSCINTERRAOUESandGeneracion completely itsobligationswithinCreditAgreement. valid untilJSCEkibastuzskayaGRES-2PowerStationperforms becomes validfromthemomentofitssigningbyPartiesandremains and useofJSCINTERRAOUES;TermAgreement:Agreement pledge: sharesbeingthesubjectofpledgeremaininpossession sion ofPledger;Allowabilityuseassetsbeingthesubject Agreement; Pledged assets (subject of the pledge) are in the posses- Power StationperformscompletelyitsobligationsundertheCredit obligation guaranteedbypledge:untilJSCEkibastuzskayaGRES-2 1,25% perannumofthecreditsum.Deadlineforfulfillment than 17%perannum.Theamountofcreditusefeedoesnotexceed Kazakhstan plus4%perannumbutnolessthan11%andmore rate equalstoinflationindexofconsumercostintheRepublic to Libor3m+8,5%perannum; —inKazakhstantengefloating of Russia+2,5%perannum; —inUSdollarsfloatingrateequals Russian rubles —floatingrateequalstoofficialbankoftheBank the CreditAgreement.Herewithinterestratesareasfollowing: —in Ekibastuz GRES-2PowerStationdoesnotperformitsliabilitieswithin velopment andForeignEconomicAffairs(Vnesheconombank)ifJSC by EurasianDevelopmentBankandStateCorporationofDe- Kazakhstan tenge —50%ofaccruedinterestsandchargesincurred lars oritsequivalentintheRussianFederationrublesRepublicof bles and385000(threehundredeightyfivemillion)USdol- two creditlimits:intheamountof12000(twelvebillion)ru- the CreditAgreementnamely: —50%withinprincipaldebtunder by pledge:50%(fiftypercent)ofthetotalamountliabilitieswithin referred toasCreditAgreement).Amountofobligationguaranteed khstan excludinginterests,commissionfeesandtaxes(hereinafter in rublesoftheRussianFederationortengeRepublicKaza- 000 (threehundredandeighty-fivemillion)USdollarsoritsequivalent the total amount of 12 000 000 000 (twelve billion) rubles and 385 000 Foreign EconomicAffairs(Vnesheconombank),ontheotherhand,in Development BankandStateCorporationof bastuzskaya GRES-2PowerStation,ontheonehand,andEurasian Station obligationsaroseoutofcreditagreementbetweenJSCEki- guaranteed bypledge:50%ofJSCEkibastuzslkayaGRES-2Power by PledgerwithinAgreementtoPledgees.Essenceofobligation emission stateregistrationnumberA4838d/d10.07.2009pledged of ordinarysharesJSCEkibastuzskayaGRES-2PowerStation, pledge: 6059026(sixmillionandfifty-ninethousandtwenty-six) and ForeignEconomicAffairs(Vnesheconombank).Subjectofthe Development Bankand/orStateCorporationof tion’s sharesconcludedbetweenJSCINTERRAOUES,Eurasian Share PledgeAgreementofJSCEkibastuzGRES-2PowerSta- essential terms) Transactions (subjectmatteroftransactionandits (Vnesheconombank) Economic Affairs ment andForeign Bank ofDevelop- State Corporation ment Bankand/or Eurasian Develop- Pledgees (jointly) — (each byitself)and RAO UES;Pledgee Pledger of Cuba) Mariel S.A.(Republic rower — Generacion INTER RAOUESBor- Lender — JSC Parties — JSC INTER JSC INTERRAOUES) 20% ofvotingshares persons jointlyownover Capital (beingaffiliated 1.3. CJSCINTERRAO Concern Rosenergoatom shareholder 1.2.JSC Corporation Rosatom INTER RAOUES:State 1.1. ShareholdersofJSC JSC INTERRAOUES) 20% ofvotingshares persons jointlyownover Capital (beingaffiliated 1.3. CJSCINTERRAO Concern Rosenergoatom shareholder 1.2.JSC Corporation Rosatom INTER RAOUES:State 1.1. ShareholdersofJSC Parties concerned Price 396 500000USdollars. Amount ofloan:upto3000USdollars. d/d 22.06.2010 Minutes No.28 d/d 22.06.2010 Minutes No.28 transaction the approving BD minutes No. ofGMS/ 46 48 47 No. rial Se- the Agreement:unlimited. Settlement andcashservicesintheRussianrubles.Terminationof Bank opensasettlementaccountfortheCustomerandperforms RAO UES–the“Organization”.SubjectmatteroftheAgreement: bank forregionaldevelopmentJSCRBRR —the“Bank”;INTER Account agreementbetweenJSCINTERRAOUESandRussian granting thenon-exclusiverighttousesoftwareisterminated. within 14calendardaystillexpirationoftheContractorifcontract extended forthenext5yearsifneitherPartyannouncesitscessation Parties andisvalidduringthe5years.TheContractautomatically The contractcomesintoeffectfromthedateofitssigningby also providingtheservicesonsoftwarefunctioning.Contractterm: and tocontroltenders(hereinafterreferredastheSoftware) the programsoftware,allowingstockexchangetoorganize system ofthemarketfuturescontractsandoptions,providing participant nonexclusiveright(sublicense)forthetradeandclearing of thecompletedcontract.Theexchangeisalsoprovidingtender organize thetradeinSectorofurgentmarketandexecution and providingthecooperationwithClearingcenterinorderto documents ofthestockexchange. —Theexchangeinformation ments oftheLawRussianFederationandinternalnormative make urgentcontractsduringthetenderaccordingtorequire- the stockexchange,regulatingtender;grantingabilityto ance withthetradingrules,specificationsandotherdocumentsof to thestockexchangerulesandspecifications —controlofcompli- urgent agreements,concludedinthemarketsectoraccording tender participant:organizationsoftheandregistration ices. Theexchangeisobligedtorenderthefollowingservices tender participantisobligedtoacceptandpayfortherenderedserv- according totherules,specifiedbystockexchangeand tenders intheurgentmarket(hereinafterreferredtoasServices) services toatenderparticipantonorganizationandcontrolof of theagreement:accordingtoagreementexchangerenders JSC INTERRAOUESandMosenergoExchange.Subjectmatter The agreementforrenderingservicesintheurgentmarketbetween Kaliningrad Regionfrom(in)IPSofRussia. transmission ofelectricenergyon(from)theterritory(territories)of systems ofEstonia,LatviaandLithuania,servicefeeconnectedwith of Belarus,InterconnectedPowerSystemUkraineandpower energy transmissionviaInterconnectedPowerSystemofRepublic No.23 enablestoexcludefrompaymentforservicesonelectric according totheSupplement.ConclusionofAdditionalAgreement tion inwhichoccursagreementonessentialandotherconditions 2004 betweenJSCINTERRAOUESandFGCastransac- electric energysystemnetworksofforeigncountriesd/dFebruary19, No.1055 fortheorganizationofelectricenergytransmissionvia conclusion ofAdditionalAgreementNo.23totheServiceContract between JSCINTERRAOUESandFGCUES.Toapprovethe tem networksofforeigncountriesd/dFebruary19,2004,concluded organization ofelectricenergytransmissionviasys- Additional AgreementNo.23totheServiceContractNo.1055for essential terms) Transactions (subjectmatteroftransactionandits Customer” RAO UES —“the Bank”; JSCINTER JSC VBRR-“the –Exchange Mosenergo Exchange of thetender;JSC RAO UES-participant company) INTER JSC (jointstock FGC UES Performer — JSC INTER RAOUES Customer — JSC Parties development) Russian Bankforregional President oftheJSCAll- (at thesametimeheis the Boardofdirectors Kurzer G.M.,memberof ergo exchange) directors ofJSCMosen- member oftheBoard the sametimeheis JSC INTERRAOUES(at chief executiveofficer Artamonov V.U.Deputy UES) of DirectorsJSCFGC the membersofBoard (at thesametimebeing Maslov andS.I.Shmatko RAO UESE.V.Dod,S. Directors ofJSCINTER The membersofBoard Parties concerned Price of thecertainbankoperation). by thebankchargeratesforcompletiondate Bank accordingtotheagreementisdetermined inclusive. (Priceofthespecifiedservices No morethan1500000rublesayear,VAT the dateofservicerendering. Is determinedaccordingtotheexchangerateon ary 19. system networksofforeigncountriesd/dFebru- electric energytransmissionvia Service ContractNo.1055fortheorganizationof tional AgreementNo.23arenotprovidedforthe financial relationsbetweenPartiesofAddi- defined bytheBoardofDirectorsaslong acquirable propertiesorservicescannotbe Companies, price(moneyvalue)ofalienateor and article77ofFederalLawOnJoint-Stock According todemandsinclause7ofarticle83 d/d. 22.06.2010 Minutes No.28 d/d. 22.06.2010 Minutes No.28 d/d 22.06.2010 Minutes No.28 transaction the approving BD minutes No. ofGMS/
149 ANNUAL REPORT JSC RAO UES / 2010 150 ANNUAL REPORT JSC RAO UES / 2010 49 52. 51 50 No. rial Se- is approximately9%ofauthorizedcapitalJSCОGK-1. allow toreturn4017887363stocksfromthetrustmanagement,that are accordingtotheannex.Theadditionalagreementconclusionwill the interest-partytransaction,materialandotherprovisionsofwhich 2009 №82531betweenJSCUESandINTERRAOas of thetrustcontrolstockrightsJSCОGK-1fromMarch11, the conclusionofadditionalagreement№11to 82531 betweenJSCFSKUECandINTERRAOUES.Toapprove control ofthestockrightsJSCОGK-1fromMarch11,2009№ The additionalagreement№1totheofconfidential from themomentofitssigninguptoMay31,2011. reserve coefficientinthepricezone.Validityperiodofcontract: results ofthecompetitivecapacityselectionandactual ing export&importsection,purchasepriceofcapacityaccordingto the balancingexportandimportmarket,recordedatcorrespond- day-ahead bidselection.Priceparametersindeliverypointclusterof counting ofexport&importtransactionsbymeansthecompetitive parameters inexport&importsector,estimatedfortheaimsofac- to rendertheCustomermonthlyinformationsupport,including:price JSC ATS.Subjectmatterofthecontract:TheContractorisobliged Contract onservicesrenderingbetweenJSCINTERRAOUESand to 700000mVh.alidityperiodofthecontract:till31.12.2010. energy deliveryvolumeaccordingtothecontract:from468 according tothetermsandconditionsofcontract.Theelectrical ownership (supply),andtheBuyerisobligedtoacceptitpay tract: theSellerisobligedtotransferelectricalenergyBuyer’s transmission lineBlagoveshchensk-Ajgun).Subjectmatterofthecon- the 110kVtransmissionlineBlagoveshchensk-Hejheand220 zone (purchaseoftheelectricalenergyforexportinChinathrough RAO EESandJSCRusHydroontheterritoryofsecondnonprice Bilateral ContractforSaleofElectricalPowerbetweenJSCINTER organization. Validityperiodofthecontract:unlimited. organization paymentlistincompliancewiththeorders,issuedby Bank transfersthepaymentstoHolders’accountsaccording provided bythemortgage(hereinafterreferredtoas“Payments”). kinds ofpayments,connectedtotheirdutyperformancesandloans, transfers intotheBanksalaryofHolders,socialandother tion employees(withintheframesofsalaryprojects).Organization issue andservicingoftheVISAInternationalcardsfororganiza- VBRR andalsochargescommissionattheratesofJSCfor ing tothetermsofissue,servicingandusepaymentcardsJSC forms servicing, opening and keeping of accounts of VISA International(hereinafterreferredtoasthe“Cards”)andper- payment cardsofJSCVBRRundertheinternationalsystem ployees oftheOrganization(hereinafterreferredtoas“Holders”) ment (JSCVBRR)Subjectmatterofthecontract:Bankissuesforem- JSC INTERRAOUESandAll-RussianBankforRegionalDevelop- Contract onissueandserviceofinternationalbankcardsbetween essential terms) Transactions (subjectmatteroftransactionandits Holders accord- manager RAO UES —Trust Trustee; JSCITER JSC FSKUES — ATS — theConractor the Customer,JSC JSC INTERRAOUES “Purchaser” Inter RAOEES —the the “Seller“”,JSC JSC RusHydro — “Organization”. RAO UES —the “Bank”; JSCINTER JSC VBRR”–the Parties UES ) of directorsinJSCFSK member oftheBoard the sametimeheis JSC INTERRAOUES(at of theBoardedirectors Shmatko S.I.,themember directors ofJSCATS) members oftheBoard the sametimetheyare V.M. andMaslovS..(at RAO UESKravchenko ment boardofJSCINTER Members oftheManage- RusHydro) ment BoardoftheJSC (Chairman oftheManage- Rys Hydro),DodE.V. Board ofdirectorsJSC are themembersof (at thesametimethey the Boardofdirectors S.V. arethemembersof Shmatko S.I.andMaslov Development ) Russian BankforRegional President oftheJSCAll- the sametimeheis the Boardofdirectors(at Kurzer G.M.,memberof Parties concerned Price JSC INTERRAOUES. 11, 2009№82531betweenJSCFSKUESand rights stockscontrolinJSCОGK-1fromMarch, ditional agreement№1totheAgreementoftrust financial relationsarenotprovidedbythead- not determinedtheBoardofdirectors,because act article77«Onjointstockcompanies»,is requirements ofitem7inarticle83andFederal acquired propertyorservices,accordingtothe The price(monetaryestimation)alienatedor 225 000Rublesperaquarter,VATinclusive rubles per1mVth,ATexclusive. the electricalenergycost335,00 —491,00 cal energyduringthedeliveryperiodconsidering It isthecostoftransferred(supplied)electri- certain bankoperation). bank chargeratesforthecompletiondateof Bank underthecontractisdeterminedby inclusive (Costofthespecifiedservices No morethan5000rublesayear,VAT d/d. 19.08.2010 Minutes No.30 d/d. 22.06.2010 Minutes No.28 d/d. 22.06.2010 Minutes No.28 d/d. 22.06.2010 Minutes No.28 transaction the approving BD minutes No. ofGMS/ 53. 54. No. rial Se- CJSC INTERRAOCAPITALarenotchanged. loan agreementfrom17/06/2009betweenJSCINTERRAOUESand RAO CAPITALforaperiodof1year.Othermaterialprovisionsthe ment from17/06/2009betweenJSCINTERRAOUESand of theadditionalagreement:extensiontermaloanagree- tween JSCINTERRAOUESandCAPITAL.Subject The additionalagreementtotheloanfrom6/17/2009be- termination theagreement. other aboutitsterminationnolessthaninamonthperiodbeforethe tion forthenextyearonsameconditions,ifnopartynotifies 4/15/1995 №333)andisvalidwithinoneyearwithannualprolonga- tection (stipulatedbytheDecreeofRussianGobvernementd/d. fulfillment and(or)servicerenderingregardingthestatesecretpro- secret andJSCINTERRAOUESreceiveslicensesfortheevents for thefulfillmentofworkusinginformation,thatcontainsstate following conditionsbecomeactual:JSCОGC-1recieveslicenses Term oftheagreement:agreementisvalidfromdate scale andaccordingtotheconditionsspecifiedinagreement. is obligedtorenderservicesinthestatesecretprotectionfull ment: theCustomerreceivesserviceandpayforit;contractor tween JSCINTERRAOUESandОGK-1.Subjectoftheagree- The serviceagreementregardingthestateSecretprotectionbe- essential terms) Transactions (subjectmatteroftransactionandits Capital — “Mutuary” CJSC INTERRAO UES — “Loaner”, JSC INTERRAO tomer” JSC OGK- —“Cus- UES — “Executor”; JSC INTERRAO Agreement sides: Parties in JSC “OGK-1”) members of the managers (at the same time are the S.N. and Sharov Yu. antsev S. Yu., Tolstogyzov JSC INTERRAOUES of thevotingstocks together morethan20% ated persons,theyhold RAO Capital(beingaffili- goatom 1.3.CJSCINTER JSC ConcernRosener- Corporation Rosatom; 1.2. stockholder theState JSC INTERRAOUES: 1.1. Stockholdersof A. Artamonov of JSC INTER RAO UES of the Management board OGK Board of directors of JSC Yu. Rumyantsev S.Yu., Sharov board Tolstoguzov S.N., of the the Management B.U. and other members RAO UES Kovalchyk ment board of JSC “NTER Chairman of the Manage INTER RAO UES). 2.1. The of the voting stocks of JSC together more than 20% filiated persons, they hold RAO Capital” (being af goatom; CJSC “INTER JSC Concern Rosener Corporation Rosatom; stockholder the State INTER RAO UES: Stockholders of JSC Parties concerned V V ., Palunin D.N., Rumy . (are members of the
— 1). 2.2. Members V . Yu., Nikitin V . - - - - Price VAT. 2 547861ruble12copecksayear,including 80 856000ruble. 1 010700000rubleandpercentageamountof 1 091636000rubles,includingthemaindebtof d/d. 19.08.2010 Minutes No.30 d/d. 19.08.2010 Minutes No.30 transaction the approving BD minutes No. ofGMS/
151 ANNUAL REPORT JSC RAO UES / 2010 152 ANNUAL REPORT JSC RAO UES / 2010 55 56 No. rial Se- 45 000(Fortyfivemillion)Euros.Guaranteeterm:unlimited. maximum amountofthebankguaranteedoesnotexceed is RAONordicOy.Bankguaranteevaliditytermnotlimited,the OMX StockholmAB(Sweden).Theprincipalonthebankguarantee ment ).Moreover:ThebeneficiaryontheBankguaranteeisNASDAQ 28, 2009forthebenefitofbank(redraftedtoadditionalagree- nity forBankGuarantee),providedbyRAONordicOyonDecember, provisions ofcounterobligationRAONordicOy(CounterIndem- million) Eurosandotherpaymentscommissionsaccordingtothe of thesumbankGuaranteeamountingto45000(fortyfive RAO NordicOy(beneficialowner)oncompensationtotheCreditor obliged toanswerbeforethecreditoronobligationsfulfillmentby RAO UESforNordicOy.Guaranteesubject:theGuarantoris The additionalagreementtotheguaranteecontractofJSCINTER tranche. Contract period:3yearsfromthemomentofprovidingwithfirst ment periodofeachtrancheis3monthsfromthemomentissue. the Agreementareprovidedtomutuarybytranches.Repay- interest, specifiedintheAgreementaswell.Moneteryfundsper during thetermspecifiedinagreementandtopayamountof ary, andthemutuaryisobligedtoreturnsameamountofmoney funds intheamountof30000(Thirtymillion)Eurostomutu- OY. Subjectoftheagreement:Loanertransfersmonetary The loanagreementbetweenJSCINTERRAOEESandNordic essential terms) Transactions (subjectmatteroftransactionandits Plc — “Creditor” Nordea BankFinlad UES — “Guarantor”; JSC INTERRAO “Mutuary” RAO NordicOY — UES — “Loaner”; JSC INTERRAO Parties Nordic Oy). of thedirectorsRAO member oftheBoard (at thesametimeis Oy) andD.N.Palunin directors ofRAONordic Chairman oftheBoard same timeisthe D.Mikalaiunas (atthe JSC INTERRAOUES. the Boardofdirectors UES) 2.1.Membersof of JSCINTERRAO 20% ofthevotingstocks hold togethermorethan affiliated persons,they RAO Capital(being goatom 1.3.CJSCINTER JSC ConcernRosener- Corporation Rosatom; 1.2. stockholder oftheState JSC INTERRAOUES: .1. Stockholdersof Parties concerned Price can bedonenomoreoftenthanonceamonth. for eachchange.Bankguaranteesumchange guarantee atarateofnomorethan250Euros commissions onchangingofthesumBank tion inthemarketsofdebtcapital,and— of theGuarantor,andalsodependingonasitua- or reducingdependingonthefinancialindicators review thesizeofcommissiononincreasing bank hastherightnomorethanonceayearto nual, addedtotheBankguaranteeamount.The guarantee, atarateofnomorethan1,5%an- regularly duringtheperiodofvaliditybank maximum amount»),—thecommissionpaid five million)Euros(furtheralso«aguarantee the bankguarantee,namely:45000(Forty due totherealizeofpaymentregarding funds whicharethecompensationtobank following: —maximumamountofthemonetary AB (Sweden),istheamountcollectedfrom for thebenefitofNASDAQOMXStockholm bank guarantee(furtheralso"Bankguarantee") (further also—"Bank"),duetotheissueofanew Nordea BankFinlandPlc(Republicinland) Nordic OyfromDecember,28,2009before (Counter IndemnityforBankGuarantee)RAO "Guarantee agreement")totheCounterobligation ment) fromDecember,28,2009(further— agreement (GuaranteeandIndemnityAgree- Cost oftherequirementrightsonGuarantee the wholetermofloanusing. EURIBOR3M +annualrate5.85percentsduring percentage amountattherate,thatequalsto Amount oftheloanis30000Eurosand d/d. 19.08.2010 Minutes No.30 d/d. 19.08.2010 Minutes No.30 transaction the approving BD minutes No. ofGMS/ 57 58 No. rial Se- BS-Client v.3.DurationofAgreement:forindefiniteterm. electronic formaccordingtothesystemofremotebankservice tions onthecurrentaccountthatClienthasopenedatBankin Bank andClientestablishtheorderofexecutionpaymenttransac- All-Russian BankofRegionalDevelopment.Subjectagreement: joint stockcompanyINTERRAOUESandopen Agreement ofthetransactionsonaccountbetweenopen by thelegislationfortrustmanagementagreements. prolongations, cannotbelongerthantheperiodofvalidityspecified the agreementtermexpiration.Thetotalterm,including the Confidentialmanagingdirectornolaterthan1(one)monthbefore than 3(three)monthsbeforetheexpirationdateortrustee—to the notificationofrefusalsuchprolongationtotrusteenolater longed forthesimilartermincasetrustdirectordoesnotdirect and itisvalidwithin1(one)year.Theagreementautomaticallypro- ized controlbodyfromthemomentofitssigningbyallsides comes intoforceafteritsapprovalbythelastpersonofauthor- RazTPP bytheConfidentialdirector.Agreementterm:agreement is connectedonlywiththerealizationofstockrightsunderJSC beneficial owneroftheagreementistrustee.Trustmanagement as totheconfidentialdirectordutiescannotinfluencestocks.The the terminationofstockownershiprightstrustee.Chargings during theagreement’sterm.Agreementconclusiondoesnotcause control therights,specifiedbystocks,inbenefitoftrustee specified furtherasshares,andtheConfidentialdirectorobligatesto street, RazdanskayaTPP),stocksandbondsspecifiedaboveare Armenia republic,Kotajkskymarz,cityofRazdan,Gortsaranain nine) ordinarynominalstocksofJSCRazTPP(thelocation:378550, thousand ninehundredseventyfourtwenty director toJSCINTERRAOUES(trustdirector):15974429(Fifteen of therightscertifiedbyfollowingsecueitiesownedtotrust the agreement:JSCROSNEFTEGAZ(thetrustee)transfersallset moment whensuchpermissionhasbeengranted.2.Asubjectof permission isnotgranted,theagreementcomesintoforcefrom Russian serviceisrequiredandifbythemomentofsigningsuch to thetrustmanagementpermissionofFederalantimonopoly for thetrustmanagementagreements.Iftransferrrencestock not belongerthantheperiodofvalidityspecifiedbylegislation expiration. Thetotalagreementterm,includingprolongations,can director nolaterthan1(one)monthbeforetheagreementterm the expirationdateortrustee—toConfidentialmanaging prolongation tothetrusteenolaterthan3(three)monthsbefore the trustdirectordoesnotdirectnotificationofrefusalsuch agreement isautomaticallyprolongedforthesimilartermincase of itssigningbyallthesidesanditisvalidwithin1(one)year.The by thelastpersonofauthorizedcontrolbodyfrommoment Agreement term:theagreementcomesintoforceafteritsapproval duties. Beneficialowneristhetrusteeaccordingtodocument. the influenceofchargingsaccordingtoconfidentialdirector’s ownership rightsofthetrusteeonstock.Sharecannotbeunder trustee. Agreementconclusionshallnotleadtotheterminationof the agreementisobligedtocontrolshareforbenefitof LLC RN-ENERGO,andtheconfidentialdirectorduringtermof RAO UES(trustdirector)100%stockintheauthorizedcapitalof JSC NKRosneft(managementdirector)transferstotheINTER ROSNEFTEGAZ, JSCNKRosneft.1.Subjectoftheagreement: Agreements (contracts)betweenJSCINTERRAOUESand essential terms) Transactions (subjectmatteroftransactionandits The “Trustee” INTER RAOUES — ROSNEFTEGAZ, JSC manager”. 2.JSC UES — “Trust JSC INTERRAO NEFT — “Trustee”, 1. JSCNKROS- UES — the“Client” JSC INTERRAO ment — the“Bank”; of RegionalDevelop- JSC All-RussianBank Parties NEFTEGAZ) directors ofJSCROS- member oftheBoard (at thesametimeheis of JSCINTERRAOUES the Boardofdirectors S.I.Shmatko, memberof ROSNEFTEGAZ) and Board ofdirectorsJSC is theChairmanof (at thesametimehe of JSCINTERRAOUES of theBoarddirectors Sechin I.I.,theChairman JSC ROSNEFTEGAZare: JSC INTERRAOUESand in transactionsbetween 2. Theinterestedparties in JSCNKROSNEFT) of theBoarddirectors time heisthemember RAO UES(atthesame of directorsJSCINTER and memberoftheBoard Rosneft) andPetrovU.A., of directorsinJSCNK Chairman oftheBoard the sametimeheis JSC INTERRAOUES(at Board ofdirectors I.I., theChairmanof NK Rosneftare:Sechin INTER RAOEESandJSC the dealsbetweenJSC 1. Interestedpersonsin at thesametime) Regionalal Development All-Russian Bankof (is thePresidentofJSC RAO UESG.M.Kurtser of directorsJSCINTER A memberoftheBoard Parties concerned Price the confidentialdirector. of theprincipalcontrolShares,arecoveredby fidential trusteedirector,regardingtherealization of theRussianFederation.ExpensesCon- rate specifiedaccordingtothecurrentlegislation The specifiedawardincludestheVATunder date ofreceivingtheaccountfromtrustdirector. paid quarterlyduring30calendardaysfromthe to 3000(threethousand)rubleaquarter.Itis The trusteereceivedrenumenaration,amounting tion ofthecorrespondingbankoperation. defined bytheBankratesfordateofexecu- Price oftheBankServicesonAgreementis d/d. 19.08.2010 Minutes No.30 d/d. 19.08.2010 Minutes No.30 transaction the approving BD minutes No. ofGMS/
153 ANNUAL REPORT JSC RAO UES / 2010 154 ANNUAL REPORT JSC RAO UES / 2010 59 61 60 No. rial Se- December 31,2010. ments: fromthedateofconclusionactualtransactionuntil on thetotaloftransactions:upto2.824millionMWh.Termagree- is obligedtoacceptitandpayit.Volumeofelectricenergysupply the electricpowerorandcapacityCustomer Subject ofagreements:TheVendorisobligedtotransfer(supply) ergy andpowerbetweenJSCINTERRAOUESEnelOGK-5. Purchase andsalestransactionsoftheelectricenergyoren- its termends. (modernisation) thecorrespondingAgreementisterminatedbefore the Agreementsand(or)rightsoforderertheirconstruction Principal loseshisrightsforalltheobjectsofgenerationindicatedin foreseen bytheAgreements.Incaseifduetoreorganisation obligations establishedbyAgreementsexcludingtheeventsthatare unilaterally toexecutetheAgreementcompletelyorinpartof execution indicatedintheAPS.ThePartiesarenotentitledtorefuse years fromthelatestdateofbeginningpowersupplyobligation tion executionindicatedintheAPSanduntilexpiryof10(ten) time fromtheearliestdateofbeginningpowersupplyobliga- total powersupplyperiodontheAPSisdefinedwithof to as“APS”)concludedbytheAgentconcerningPrincipal.The ods ofalltheagreementspowersupply(hereinafterreferred duration ofAgreementsmustcorrespondtothepowersupplyperi- the samepricezonewithcorrespondinggenerationobjects.The Agreement ofjoiningwhoseconsumptionsupplypointsgroupsarein market) accordingtotheRulesofwholesalemarketand ATS (TradingSystemAdministratoroftheelectricenergywholesale inversion participantsonthewholesalemarketthataredefinedby that arethesubjectsofwholesalemarket,withelectricenergy “Agreement ofjoining”)withthebuyerselectricenergy(power) joining thewholesalemarkettradesystem(hereinafterreferredtoas ing tothestandardformthatisappendixAgreementof wholesale markettheagreementsofprovisionpoweraccord- Principal duringthetermofvalidityContracttoconcludeat the obligationonbehalfof,innameofandatexpense ments: ThePrincipalauthorisestheAgentandassumes Councel, JSCATS,SOUES,CJSCCFR.Subjectofagree- Contracts ofagencybetweenJSCINTERRAOUESandNPMarket arisen from July 1, 2010. by the Parties and covers the relations between the Parties that have The agreement comes into force from the moment when it was signed ance and transfer certificate. Term of Agreement: until June 30, 2012. Lessee until the day of its return to the Lessor according to the accept The rent is paid from the day of transfer of the Equipment for use to the equipment to any third person without written consent of the Lessor. tion data of the equipment. The Lessee is not entitled to transfer the for purposes of production according to the construction and exploita referred to as "Equipment"). The Equipment is supplied to the Lessee and two optical multiplex switches “SuperGvozd RTK.34” (hereinafter plant of JSC Rostelecom (city of Tejkovo, Pershinskaia street, 48-a) somolskaia street, 1) to the communication node of the line equipment Ivanovskije PGU of JSC INTER RAO UES (city of Komsomolsk, Kom A3), the area maintenance building (Letter A1, A2) of the branch main building of Ivanovskaia GRES (state district power station) (Letter ble on the section from the node of the communication building of the provide the Lessee for temporary use one wire of the optical-fiber ca UES and JSC “Stend”. Subject of agreement: the Lessor is obliged to Contract of lease of the optical-fiber cable between JSC INTER RAO essential terms) Transactions (subjectmatteroftransactionandits - - - - the Vendor OGK-5– theBuyeror the Buyer;JSCEnel UES — theVendoror JSC INTERRAO Councel” Councel, — “Market operator”; NPMarket “ATS”, “Commercial erator”; OJSCATS — UES, —“Systemop- “Agent”; SCSO CJSC CFR — UES — “Principal”; JSC INTERRAO Stend — “Lessee” UES — “Lessor”;JSC JSC INTERRAO Parties OGK-5) of directorsJSCEnel member oftheBoard Artamonov V.Yu.(isthe of JSCINTERRAOUES Board ofmanagement Deputy Chairmanofthe UES atthesametime) of directorsOJSCSO members oftheBboard Shmatko S.I.(arethe RAO UESDodE.V.and directors ofJSCINTER members oftheBoard at thesametime); of directorsCJSCCRR the membersofBoard V.M., LokchynA.M.(are Dod E.V.,Kravchenko of JSCINTERRAOUES of theBoarddirectors same time);themembers NP MarketCouncelatthe supervisory directorsof members oftheBoard Lokchyn A.M.(arethe UES KravchenkoV.M., of JSCINTERRAO the Boardofdirectors time); themembersof OJSC ATSatthesame of Boarddirectors V.M. (arethemembers chuk B.Yu.,Kravchenko INTER RAOUESKoval- Board ofdirectorsJSC The membersofthe RAO UES) ing sharesofJSCINTER more than20%ofthevot- persons possessingjointly (which aretheaffiliated CJSC INTERRAOKapital ergoatom Concern;1.3. Rosatom; 1.2. JSC Rosen- the Publiccorporation UES: theshareholderis of theJSCINTERRAO 1.1. Theshareholders Parties concerned Price seasonal coefficient. part ofJSCINTERRAOUESwithallowance for MW notincludingVATforapurchaseonthe the salesandnotmorethan200000.00ruble/ established tariffrateofthestationsfor2010 1 MWhofcapacitymustbenotlessthanthe JSC INTERRAOUES.Themarginalpricefor not includingVATforapurchaseonthepartof activity forimport)andnotmorethan1000ruble price ofthepurchaseforexternaleconomic stations for2010thesales(notlessthan be notlessthantheestablishedtariffrateof marginal pricefor1MWhofelectricenergymust Up to2000ruble,includingVAT.The each Agreement. 100 000rubleperaquarterincludingtheVATfor ruble 00kopecksincludingVAT. Monthly rentamountfortheEquipmentis11000 d/d. 19.08.2010 Minutes No.30 d/d. 19.08.2010 Minutes No.30 d/d. 19.08.2010 Minutes No.30 transaction the approving BD minutes No. ofGMS/ 62 65 64 63 No. rial Se- from thedateofitssignatureandisvalidforindefiniteterm. the newrate.TermofAgreement:agreementcomesintoforce of theClientatleast10(ten)daysfromdateimplementation commission chargeinhissolediscretionafterawrittennotification counts oftheClient.TheBankisentitledtochangeamount of Agreement:ReallocationmonetaryresourcesontheBankac- counts betweentheCompanyandOJSCGazprombank.Subject Agreement ofreallocationmonetaryresourcesonthebankac- the fullexecutionofobligationsbyparties. ment comesintoforcefromthedateofitssignatureandisvaliduntil terms providedbytheAgreement.TermofAgreement:Agree- provision ofservicesstatesecretprotectioninvolumeandupon sary toobtainthelicencesforexecutionofmeasuresand(or) information andalsoobservingtheotherconditionsthatareneces- countering actionandprotectionofthetechnicalchannelleakage requirements byJSCINTERRAOUES,foreigntechnicalintelligence tise executionbyverificationofthenecessaryspecial assumes theresponsibilitytoprovideservicesofspecialexper- ment: theClientcommitsandisobligedtopayExecutor between JSCINTERRAOUESandFSKUES.SubjectofAgree- Agreement ofprovisionservicesspecialexpertiseexecution of Chinafor2011. are effectuatedonlyinthepresenceofacontractforcewithGEK cember 31,2011.SuppliesontheAgreementsfromJanuary1,2011 million) MWh.TermofAgreements:fromJanuary1,2011untilDe- of electricenergysupplyontheAgreements:upto1000(one and topayforitaccordingtheconditionsofAgreement.Volume Bureiskaia andZeiskaiaGEStheBuyerisobligedtoacceptit into ownership(support)totheBuyerelectricenergyproducedby 2010. 2.Subjectofagreements:theVendorisobligedtotransfer hundred thousand)MWh.TermofAgreements:untilDecember31, of electricenergysupplyontheAgreements:upto700000(seven it andtopayforaccordingtheconditionsofAgreement.Volume Bureiskaia GESandZeiskaiatheBuyerisobligedtoaccept into ownership(support)totheBuyerelectricenergyproducedby market. 1.Subjectofagreements:theVendorisobligedtotransfer of theRussianFederationnotunifiedintopricezoneswholesale pany andOJSCRusHydroontheterritoriesofterritorialsubjects Sale andpurchaseagreementsofelectricenergybetweentheCom- the momentofacceptancepresentresolution. value of1europershare.Duedateshares:during6monthsfrom dred seventeenthousandtwohundredeight)pieces,withanominal Middle EastB.V.,intheamountof3317298(threemillionthreehun- pays thefollowingsecurities:supplementsharesofINTERRAO of agreements:theIssuertransfersandTransfereeaccepts of INTERRAOMiddleEastB.V.thatareplacedadditionally.Subject Purchase transactionofJSCINTERRAOUESthesimpleshares essential terms) Transactions (subjectmatteroftransactionandits “Client” INTER RAOUES — bank — “Bank”;JSC OJSC Gazprom- RAO UES —“Client” ecutor”; JSCINTER JSC FSKUES. —“Ex- RAO UES —“Buyer” “Vendor”; JSCINTER OJSC RusHydro — East B.V. —“Issuer” INTER RAOMiddle UES — “Transferee”; JSC INTERRAO Parties time RAO UESatthesame directors ofJSCINTER member oftheBoard Selezniov K.G.thatisthe OJSC Gazprombank Board ofdirectors The membersofthe UES atthesametime) of directorsJSCFSK the memberofBoard RAO UESS.I.Shmatko(is of directorsJSCINTER The membersofBoard OJSC RusHyidro) the Boardofdirectors B.Yu. (isthememberof RAO UESKovalchuk ment BoardofJSCINTER Chairman oftheManage- of OJSCRusHydro);the the ManagementBoard E.V. (istheChairmanof INTER RAOUESDod Board ofdirectorsJSC time); thememberof RusHydro atthesame of directorsOJSC members oftheBoard Kurtser G.M.(arethe RAO UESShmatkoS.I., of directorsJSCINTER The membersofBoard RAO UES) ing sharesofJSCINTER more than20%ofthevot- persons possessingjointly (which aretheaffiliated CJSCINTER RAOKapital ergoatom Concern;1.3. Rosatom; 1.2. JSC Rosen- the StateCorporation the shareholderis JSC INTERRAOUES: 1.1. Theshareholdersof Parties concerned Price mission charge). 500 rublepermonth,VATisnotimposed(com- 50 000rubleincludingVAT. exporter intheexportpriceofnolessthan8%. defined byformulathatstipulatesthepartof 2. Onthebasisofpriceforelectricenergy 1. Upto550rubleper1MWhnotincludingVAT. 3 317298Euros. d/d. 30.09.2010 Minutes No.32 d/d. 30.09.2010 Minutes No.32 d/d. 30.09.2010 Minutes No.32 d/d. 30.09.2010 Minutes No.32 transaction the approving BD minutes No. ofGMS/
155 ANNUAL REPORT JSC RAO UES / 2010 156 ANNUAL REPORT JSC RAO UES / 2010 66 68 67 No. rial Se- after suchconsenthas beenobtained. of votingsharescanbetransferredintopossession oftheBuyeronly of theagreement(s)inamountexceeding 25%fromthetotalnumber consent hasnotbeenobtainedthentheshares whicharetheobject the momentofsignatureagreement (s)bythePartiessuch of theFederalAnti-MonopolyServiceRussiais requiredandby of theblockssharesindicatedinpresent resolutiontheconsent of pledgesharesbySeptember1,2010, No.2/01/09.Ifthetransfer according totheorderestablishedby article5oftheAgreement Holder isentitledtoinstituterecoveryproceedings againsttheShares pledge remainsinpossessionanduseofthePledger.ThePledge RAO KapitalastheBuyerandFortumVendor.Thesubjectof St. PetersburgsalescompanyconcludedbetweenCJSCINTER conditions ofthesaleandpurchaseagreement(s)sharesJSC Brodokalmakskii trakt,6,OGRN1058602102437)accordingtothe (place oflocation:theRussianFederation,454077,Cheliabinsk, number ofordinarynominaluncertifiedsharestheOJSCFortum dred seventyeightmillion)rubleinmonetaryfundsand/orequivalent sales companyinamountofupto1678000(onebillionsixhun- of thepricepurchasedblocksharesJSCSt.Petersburg 1/01/09. ThesecuredobligationisthepaymenttoPledgeHolder shares saleandpurchaseagreementbySeptember1,20.10,No purpose oftheobligationsPriorPledgerasbuyeron that arethesubjectofpledgeinfavourPledgeHolderfor 100 nominalpreferentialsharesofJSCSt.Petersburgsalescompany 2/01/09 concerning191432148nominalordinarysharesand48633 tions ofthePriorPledgeronagreementbySeptember1,2010no pany. SubjectofAgreement:Thenewpledgerassumestheobliga- Agreement ofpledgesharesJSCSt.Petersburgsalescom- on theirpayment. into thepledgetoVendorsecureobligationsofBuyer subject ofthesaleandpurchaseagreement(s)arenottransferred agreement ofSeptember1,2010no1/01/09.Thesharesthatarethe of CJSCINTERRAOKapitalunderthesharessaleandpurchase Power andHeatOy(pledgeholder)forthepurposeofobligations under sharesofSeptember1,2010no2/01/09infavourFortum company arethesubjectofpledgeonAgreement 48 633100nominalpreferentialsharesofJSCSt.Petersburgsales up to293252835ruble.191432146nominalordinarysharesand of thepurchasedblockpreferentialnominaluncertifiedsharesis 2-01-55168-E withthenominalvalueof0.2rublepershare.Theprice certificate shares,thestateregistrationnumberofsecuritiesissue to 1384975166ruble.b)up48633100preferentialnominalnon- of thepurchasedblockordinarynominaluncertifiedsharesisup 1-01-55168-E withthenominalvalueof0.2rublepershare.Theprice uncertified shares,thestateregistrationnumberofsecuritiesissue Petersburg salescompany:a)upto229600253ordinarynominal to sellandtheBuyerisobligedbuyfollowingsharesofJSCSt. burg salescompany.SubjectofAgreement(s):theVendorisobliged The saleandpurchaseagreement(s)forsharesofJSCSt.Peters- gations ontheagreement. Agreement: untilthecompleteexecutionbypartiesoftheirobli- revenue fromelectricenergysuppliedbythePrincipal.Termof the transfertoPrincipal’saccountofexportforeigncurrency to organiseinorderandontermsdefinedbythepresentAgreement energy withtheauthorisedentitiesatlocationofimporters; — manner thetechnicalconditionsofassumedsupplieselectric electric energywiththeimporters; —tocoordinateinappropriate of thePrincipalandathisexpenseagreementssupply customers (importers); —toconcludeinhisownnamebutonbehalf research andfollowinginteractionwithpotentialimporters —foreign the energysystemofKaliningradregionincluding: —toorganise produced onthegeneratingequipmentofBaltijskajaAESlocatedin of suppliestoexportelectricenergybelongingthePrincipaland of executionthecomplexmeasuresconcerningorganisation Principal andathisexpensetoexecutethelegalanotheractions The Agentisobligedforafeeinhisownnamebutonbehalfofthe UES andJSCRosenergoatomConcern.SubjectoftheAgreement: Agreements ofelectricenergyexportbetweenJSCINTERRAO essential terms) Transactions (subjectmatteroftransactionandits Pledger” RAO UES —“New Pledger”; JSCINTER RAO Kapital —“Prior Holder”; CJSCINTER Heat Oy —“Pledge Fortum Powerand UES — “Buyer” JSC INTERRAO Kapital — “Vendor”; CJSC INTERRAO cern — Principal Rosenergoatom Con- UES — Agent;JSC JSC INTERRAO Parties RAO Kapital). directors ofCJSCINTER members oftheBoard and D.N.Palunin(arethe RAO UES:I.I.Mirsiyapov directors ofJSCINTER members oftheBoard RAO UES).2.1.The ing sharesofJSCINTER more than20%ofthevot- persons possessingjointly (which aretheaffiliated CJSC INTERRAOKapital ergoatom concern;1.3. satom; 1.2.OSCRosen- the StatecorporationRo- UES: theshareholderis of theJSCINTERRAO 1.1. Theshareholders RAO Kapital) directors ofCJSCINTER members oftheBoard and D.N. Palunin(arethe RAO UES:I.I.Mirsiyapov directors ofJSCINTER members oftheBoard RAO UES).2.1.The shares ofJSCINTER than 20%ofthevoting possessing jointlymore are theaffiliatedpersons INTER RAOKapital(which concern; 1.3.CJSC 1.2. OSCRosenergoatom corporation Rosatom; shareholder istheState JSC INTERRAOUES:the 1.1. Theshareholdersof UES) shares ofJSCINTERRAO than 20%ofthevoting possessing jointlymore are theaffiliatedpersons INTER RAOKapital(which transaction); 1.3.CJSC Concern partyofthe 1.2. JSCRosenergoatom Corporation Rosatom; shareholder istheState JSC INTERRAOUES:the 1.1. Theshareholdersof Parties concerned Price 047 ruble. The valueofthepledgedsharesis1157018 Up to1678228001ruble. currency transitaccount. revenue wasreceivedontheAgent’sforeign (five) bankdaysfromthedatewhenexport Agent ofthecorrespondingamountduring5 of payment.Thefeeispaidbydeductionthe valid rateofRussianlegislationatthemoment account, inadditiontotheVATaccording ment thathasbeenpaidintotheAgent’stransit connection withtheexecutionofAgree- coordinated bytheAgentandPrincipalin ment inamountofforeigncurrencyrevenue defined accordingtotheconditionsofAgree- INTER RAOUESasanAgentbyAgreementis The amountofthemonthlyagentfeeJSC d/d. 29.10.2010 Minutes No.33 d/d. 29.10.2010 Minutes No.33 d/d. 30.09.2010 Minutes No.32 transaction the approving BD minutes No. ofGMS/ 69 71 70 No. rial Se- to expandtheAuthorisedcapitalofCompany. as asoleparticipantofLLCINTERRAOUES FINANCEofaresolution working daysfromthemomentofacceptance JSCINTERRAOUES capital ofLLCINTERRAOUESFINANCE.Term:during10(ten) hundred eightythousand)rublenotincludingVATintotheauthorised of JSCINTERRAOUESamountingto5880000(fivemillioneight the informationalsystemofcentralisedcontrolreferencedata of MTR(materialandtechnicalresources)”thatareincludedinto ordinary non-exclusivelicence)ofthecorporativeguide“Catalogue exclusive nonnegotiabletothethirdpersonsrightsofutilisation(of Subject ofAgreement:IntroductionbyJSCINTERRAOUESnon- tribution totheauthorisedcapitalofLLCINTERRAOUESFINANCE. Transaction onpayingupbyJSCINTERRAOUESofadditionalcon- with theForeignBuyers. price lowerlimitatthesuppliesofelectricenergyonagreements the validityofAgreementuntilDecember31,2012; —toraise (Conclusion ofAdditionalAgreementNo9willallow: —toprolongate and JSCTGK-1uponessentialconditionsaccordingtotheAppendix. February 28;2008No06-643/2008-1betweenJSCINTERRAOUES approve theadditionalAgreementNo9toAgentby 2008 No06-643/2008-1JSCINTERRAOUESandTGK-1.To Additional AgreementNo9totheAgentbyFebruary28; No 2ofPGU-325IvanovskayaGRESto220kWelectricmains). execute thetechnologicalattachmentofpowergeneratingunit (The conclusionofanadditionalagreementwillgiveapossibilityto be concludeduponessentialconditionsaccordingtotheAppendix. a transactiontheeffectuationofwhichhassomeinterestthatisto electric mainsbetweenJSCINTERRAOUESandFSKas technological attachmentoftheelectricpowerinstallationsto UES andJSCFSKUES.Toapprovetheagreementofexecution power installationstotheelectricmainsbetweenJSCINTERRAO Agreement ofexecutiontechnologicalattachmenttheelectric essential terms) Transactions (subjectmatteroftransactionandits pany” FINANCE — “Com- LLC INTERRAOUES UES — “Participant”; JSC INTERRAO TGK-1 — “Principal” UES — “Agent”;JSC JSC INTERRAO pany” “Generating com- Ivanovskije PGU– RAO UES(branch tion”; JSCINTER “Network organisa- JSC FSKUES — Parties RAO UES) ing sharesofJSCINTER more than20%ofthevot- persons possessingjointly (which aretheaffiliated CJSC INTERRAOKapital ergoatom concern;1.3. satom; 1.2.OSCRosen- the StateCorporationRo- UES: theshareholderis of theJSCINTERRAO 1.1. Theshareholders TGK-1 atthesametime) Board ofdirectorsJSC (is theChairmanof RAO UESSelezniovK.G. of directorsJSCINTER The memberoftheBoard UES atthesametime) of directorsJSCFSK the memberofBoard RAO UESS.I.Shmatko(is of directorsJSCINTER The memberoftheBoard Parties concerned Price 5 880000rublenotincludingVAT. of obligationsontheAgreement. related totheexecutionofJSCINTERRAOUES currency revenuetransfer; —otherexpenses tion; — allbankexpensesrelatedtotheforeign the energeticsystemofRussianFedera- Principal viatheenergeticsystemofFinlandto provision ofelectricenergytransitservicesthe conclusion andexecutionoftheagreement INTER RAOUES; —theexpensesrelatedto broker iftheseserviceswillbeprovidedtoJSC the expensesforservicesofcustoms custom registrationofelectricenergyincluding execution including: —theexpensesfor on behalfofJSCTGK-1fortheAgreement expenses ofJSCINTERRAOUES,incurred of servicestransit. —compensationallthe Principal accordingtotheagreementofprovision services ofthetransitelectricenergy percent (notincludingVAT)fromthevalueof tions describedintheAgreement). —5(five) Buyer (companythathasacceptedthecondi- for supplyupontheContractswithaForeign volumes ofelectricenergywhichwereplanned a resultoftherealisationonOREM VAT) oftherevenuereceivedbyJSCTGK-1(as of JSCTGK-1). —8(eight)percent(notincluding present paragraphareexecutedattheexpense of theforeigncurrencyrevenueaccordingto expenses relatedtothereceptionandtransfer account ofJSCINTERRAOUES(allbank revenue obtainedonthetransitforeigncurrency VAT) oftheamountforeigncurrency contains: — 3(three)percent(notincluding Is equaltotheamountofagentfeewhich JSC FSKUES. 201-e andtheinternaldocumentsappliedby Tariff Service)ofRussiabyAugust21,2009no Mains approvedbytheOrderofFST(ederal for theTechnologicalAttachmenttoElectric Instructional GuidelinesonDefiningthePayment to theelectricmainsdefinedaccording of paymentforthetechnologicalattachment makes uptheamountthatisequalto UES (hereinafter also referred to as “Agreement”) between JSCINTERRAOUESandFSK electric powerinstallationstothemains execution oftechnologicalattachmentthe The priceofservicesundertheagreement d/d. 29.10.2010 Minutes No.33 d/d. 24.12.2010 Minutes No.35 d/d. 29.10.2010 Minutes No.33 transaction the approving BD minutes No. ofGMS/
157 ANNUAL REPORT JSC RAO UES / 2010 158 ANNUAL REPORT JSC RAO UES / 2010 72 74 73 No. rial Se- UES andCJSCINTERRAOKapitalforatermof1year. the loanagreementofNovember10,2009betweenJSCINTERRAO ject ofadditionalagreement:prolongationthetermvalidity between JSCINTERRAOUESandCJSCKapital.Sub- Additional agreementtotheloanofNovember10,2009 the Agreement. tion notlessthanonemonthbeforetheendoftermvalidity terms ifnoneofthePartieshasnotifiedanotherPartyitstermina- year withannualprolongationforonesucceedingonthesame the RussianFederationbyApril15,1995No333),andisvalidforone secret protection(accordingtotheResolutionofGovernment for executionofmeasuresand(or)provisionservicesthestate the statesecretandofreceiptbyJSCINTERRAOUESalicence licence forexecutionofworksusingtheinformationthatisapart receipt LLCCentreofenergyefficiencyINTERRAOUESa agreement: TheAgreementcomesintoforcefromthemomentof in volumeandupontermsdefinedbytheAgreement.Termof ity toprovidetheservicesinfieldofstatesecretprotection mits andisobligedtopaytheExecutorassumesresponsibil- efficiency ofINTERRAOUES.SubjectAgreement:theClientcom- protection betweenJSCINTERRAOUESandLLCCentreofenergy Agreement onprovisionofservicesinthefieldstatesecret (eleven) monthsfromJanuary1,2011. after theendoftermvalidityAgreement.Termlease:11 ing toitsdestination,paytherentandreturnrentedProperty and theLesseeisobligedtoexecuteuseofPropertyaccord- Ivanovskaia region,cityofKomsomolsk,Komsomolskaiastreet,1 to theappendixAgreementlocatedataddress:155150, constructions, transferdevices,machinesandequipmentaccording the Lesseefortemporarypossessionandusebuildings JSC Stend.SubjectofAgreement:theLessorisobligedtoprovide Contract ofleasepropertybetweenJSCINTERRAOUESand essential terms) Transactions (subjectmatteroftransactionandits Kapital — “Loaner” CJSC INTERRAO UES — “Lender”; JSC INTERRAO UES — “Client” efficiency ofRAO LLC Centreofenergy UES —“Executor”, JSC INTERRAO JSC Stend”–“Lessor” UES —“Lessee”; JSC INTERRAO Parties RAO UES) ing sharesofJSCINTER more than20%ofthevot- persons possessingjointly (which aretheaffiliated CJSC INTERRAOKapital ergoatom Concern;1.3. satom; 1.2.OSCRosen- the StateCorporationRo- UES: theshareholderis of theJSCINTERRAO 1.1. Theshareholders INTER RAOUES” of energyefficiency of directorsLLCCentre the membersofBoard Yu.V. Sharovastheyare UES A.V.Golovliovand Board ofJSCINTERRAO 2.1. Themembersofthe of JSCINTERRAOUES). 20% ofthevotingshares sessing jointlymorethan affiliated personspos- Kapital (whicharethe 1.3. CJSCINTERRAO Rosenergoatom Concern; tion Rosatom;1.2.OSC is theStateCorpora- UES: theshareholder of theJSCINTERRAO 1.1. Theshareholders RAO UES) ing sharesofJSCINTER more than20%ofthevot- persons possessingjointly (which aretheaffiliated CJSC INTERRAOKapital ergoatom Concern;1.3. satom; 1.2.OSCRosen- the StateCorporationRo- UES: theshareholderis of theJSCINTERRAO 1.1. Theshareholders Parties concerned Price 1 123928131ruble,99kopecks 865 114ruble8kopecksperyearincludingVAT. monthly. 11 555310ruble91kopecksincludingVAT d/d. 24.12.2010 Minutes No.35 d/d. 24.12.2010 Minutes No.35 d/d. 24.12.2010 Minutes No.35 transaction the approving BD minutes No. ofGMS/ 75 76 No. rial Se- moment oftheirsignatureandarevaliduntil December31,2013. Agreements: TheAdditionalAgreementscome intoforcefromthe at least1%(Onepercent)perannum.Term ofvalidityAdditional monetary fundsontheClient’saccountfrom 0%(Zeropercent)upto Agreements: Themodificationoftheinterestrateforutilisation tween theCompanyandOJSCBANKRUSSIA.SubjectofAdditional 2. Additionalagreementstothebankaccountagreementinrublebe- moment ofitssignaturebythePartiesandisvalidforindefiniteterm. Duration oftheAgreement:Agreementcomesintoforcefrom in orderestablishedbythecurrentlegislationandAgreement. keeps hismonetaryfundsonBankAccountandmanagesthem provides thecashmanagementservicestoClient.TheClient current accounttotheClientinRussianFederationcurrencyand and OJSCBANKRUSSIA.subjectofAgreement:theBankopensa 1. BankaccountagreementinrublebetweenJSCINTERRAOUES Bank forReconstructionandDevelopmentJSCTelasi. the AgreementofProjectSupportandSharesHoldupareEuropean and JSCTelasi.ThebeneficiariesoftheContractIndemnity Holdup areEuropeanBankforReconstructionandDevelopment of IndemnityandtheAgreementProjectSupportShares defined intheCreditAgreement).ThebeneficiariesofContract credit agreementandtheotherFinancialDocuments(asthistermis complete executionbyJSCTelasiofallitsobligationsunderthe from themomentofitssignaturebyPartiesandisvaliduntil agreement ofprojectsupportandsharesholdupcomesintoforce executes hisobligationsontheagreement.Termofvalidity: without awrittenconsentofEBRD; —toensurethattheShareholder arises bylaworduringanyregulareconomicactivityoftheSponsor concerning theShareholder’ssharesexcludingprovisionthat tion ofsecurities; —towithholdfromestablishinganyprovision the authorisedcapitalofShareholderafterthatprimarydistribu- Sponsor continuestoholddirectlyorindirectlyatleast51%sharesin execution oftheprimarydistributionsecuritiesprovidedthat these sharesintheauthorisedcapitalofShareholderdueto sale, transferoranotherdisposaloftheSponsor’srightsconcerning the authorisedcapitalofShareholderexcludingcasesany retains possession(directorindirect)ofnotlessthan100%sharesin responsibilities duringallthetermofvalidityagreementand the sharesaccordingtowhichSponsorassumesfollowing of theShareholderwithoutawrittenconsentEBRD;b)holdup provision thatarisesbylaworduringanyregulareconomicactivity any provisionconcerningtheShareholder’ssharesexcluding the termofvalidityagreement; —towithholdfromestablishing at least51%sharesintheauthorisedcapitalofJSCTelasi”duringall holder assumesthefollowingobligations: —toretainpossessionof shares holdup:a)holdupoftheaccordingtowhichShare- and Development.SubjectoftheAgreementprojectsupport UES, SilkRoadHoldingsB.V.andEuropeanBankforReconstruction ment ofprojectsupportandsharesholdupbetweenJSCINTERRAO by JSCTelasiofallitsobligationsonthecreditagreement;2.Agree- of itssignaturebythepartiesandisvaliduntilcompleteexecution contract: thecontractofindemnitycomesintoforcefrommoment ments (asthistermisdefinedintheCreditAgreement);Durationof due tothemonetaryobligationsofJSCTelasionFinancialDocu- irrevocably indemnifyEBRDforanylossesandexpensesincurred was themaindebtor;b)TheGuaranteeisobligedtoabsolutelyand (as thistermisdefinedintheCreditAgreement)asifGuarantee gations ontheCreditAgreementandanotherFinancialDocuments execution orimproperbyJSCTelasiofthepaymentobli- obliged toabsolutelyandirrevocablyreporttheEBRDfornon- Development. Subjectofcontractindemnity:a)TheGuaranteeis JSC INTERRAOUESandEuropeanBankforReconstruction Interconnected transactions:1.Contractofindemnitybetween essential terms) Transactions (subjectmatteroftransactionandits “EBRD” Development — Reconstruction and European Bankfor B.V. — “Shareholder”; Silk RoadHoldings UES — “Sponsor”; 2. JSCINTERRAO ment — “EBRD”; tion andDevelop- for Reconstruc- European Bank UES — “Guarantee”, 1. JSCINTERRAO RAO UES —“Client” “Bank”, JSCINTER BANK RUSSIA. — “Client”. 2.1.OJSC INTER RAOUES — SIA. — “Bank”,JSC 1. OJSCBANKRUS- Parties RAO UES) ing sharesofJSCINTER more than20%ofthevot- persons possessingjointly (which aretheaffiliated CJSC INTERRAOKapital ergoatom Concern;1.3. satom; 1.2.OSCRosen- the StateCorporationRo- UES: theshareholderis of theJSCINTERRAO 1.1. Theshareholders OJSC BANKRUSSIA) of heBoarddirectors relative totheChairman Kovalchuk (isaclose INTER RAOUESB.Yu. agement BoardofJSC The chairmanoftheMan- Parties concerned Price Agreement). Documents (asthistermisdefinedintheCredit tions ofJSCTelasitoEBRDontheFinancial amount; — otherpossiblemonetaryobliga- from theinterestsandprincipaldebtoverdue overdue amountfeeinof2%perannum Credit Agreement; —interestsandprincipaldebt first threeyearsfromthedateofsignature immediately iftheredemptionismadeduring of 1.5%theprincipaldebtthatistobepaid of funds; —earlyredemptionpenaltyinamount commitment duringalltheperiodofavailability mitment feeinamountof0.5%theundrawn in amountof1.5%thecreditamount; —com- lowing fees: —frontendfeeforthecreditissue Guarantee andJSCTelasi,theamountoffol- year dependingonthefinancialindicatorof the margininamountof3.5to5.0percentper (i) ofLIBORrate(6monthsinUSdollars)and(ii) credit, therateofinterestmakesupamount US dollars, —theamountofintereston Indemnity: upto25000(twentyfivemillion) Credit AgreementsecuredbytheContractof tions: — theamountofprincipaldebton Is definedconsideringthefollowingcondi- account ofJSCINTERRAOUES. balance ofthemonetaryfundsoncurrent and notexceeding10%perannumaddedtothe “Client-Bank” system.Inamountofatleast1% and throughtheinformationdistributionin stands intheBankpremises,onsite changes bypublicationofthisinformationonthe 20 (twenty)calendardaysbeforethedateof tion afterhavingnotifiedtheClientofitatleast amount ofcommissionfeeatitssolediscre- practice. TheBankisentitledtochangethe entrepreneurs andindividualsleadingaprivate OJSC BANKRUSSIAforlegalpersons,private ment oftheactualtariffscommissionfee ing tothetariffsestablishedbyAbridg- 1. TheClientpaysfortheBankservicesaccord- d/d. 24.12.2010 Minutes No.35 d/d. 24.12.2010 Minutes No.35 transaction the approving BD minutes No. ofGMS/
159 ANNUAL REPORT JSC RAO UES / 2010 160 ANNUAL REPORT JSC RAO UES / 2010 77 78 No. rial Se- valid forindefiniteterm. comes intoforcefromthedateofitssignaturebyPartiesandis ices andtopayforthem.DurationoftheAgreement:TheAgreement the Associationsassumeobligationtoacceptprovidedserv- ruble andforeigncurrencyopenattheBankCompany fectuation ofthetransactionsonaccountsAssociationsin of exchangeelectronicdocuments(“Client-Bank”system)atef- the Associationsservicesrelatedtoutilisationofsystem company. SubjectofAgreement:bankprovidestotheCompanyand OJSC TambovenergysaleslCompany,St.Petersburgsales OJSC Mosenergosbyt,Saratovenergo,Altajenergosbyt, exchange betweenJSCINTERRAOUES,OJSCGazprombankand Agreement ofutilisationthesystemelectronicdocuments square meters,roomno8withthefloorareaof61.3meters). in theatticfloor(partofroomno5witharea233.9 room no8withthefloorareaof65.0squaremeters),PremiseXIV square meters,roomno5withthesurfaceof381.5 Premise XIIinthe2ndfloor(roomno2withareaof396.3 the 1stfloor(roomno9withareaof46.1squaremeters), building; thetotalfloorareais1184.06squaremeters:PremiseVon Pirogovskaia street,27,building3,accordingtothefloorplanof following premisesthatarelocatedattheaddress:Moscow,Bolshaia The LessortransfersandtheLesseeacceptsintotemporaryuse INTER RAOUESandCJSCELEKTROLUCH.SubjectofAgreement: Non-residential (office)premisesleaseagreementbetweenJSC essential terms) Transactions (subjectmatteroftransactionandits “Associations” sociation” andjointly independently “As- company — each St. Petersburgsales sales company, OJSC OJSC Tambovenergy ergo, Altajenergosbyt, OJSC Saratoven- Mosenergosbyt, “Company”; OJSC INTER RAOUES — bank — “Bank”;JSC OJSC Gazprom- UES — “Lessee” sor”; JSCINTERRAO KTROLUCH — “Les- CJSC ELE- Parties RAO UES) ing sharesofJSCINTER more than20%ofthevot- persons possessingjointly (which aretheaffiliated CJSC INTERRAOKapital ergoatom Concern;1.3. satom; 1.2.OSCRosen- the StateCorporationRo- UES: theshareholderis of theJSCINTERRAO 1.1. Theshareholders CJSC ELEKTROLUCH Supervisory Cometteeof they aremembersofthe Boris andD.N.Paluninas INTER RAOUES:A.G. bers oftheBoardJSC RAO UES).2.1.Themem- ing sharesofJSCINTER more than20%ofthevot- persons possessingjointly (which aretheaffiliated CJSC INTERRAOKapital ergoatom Concern;1.3. satom; 1.2.OSCRosen- the StateCorporationRo- UES: theshareholderis of theJSCINTERRAO 1.1. Theshareholders Parties concerned Price new tariff. days beforethedateofimplementation notified theClientofitatleast10(ten)calendar commission feeinitssolediscretionafterhaving The Bankisentitledtochangetheamountof 100 000.00rublepermonth,VATisnotimposed. corresponding paymenteffectuation. rate oftheBankRussiaasondate be madeintheRussianFederationrubleat the typesofpaymentsonAgreementareto for onecalendarmonthnotincludingVAT.All hundred) USdollarsperoneLessee'svehicle 27, building1,2,3,4inamountof200(two address: Moscow,BolshaiaPirogovskaiastreet, territory ofthegroupbuildingslocatedat entrance andexitoftheLessee’svehicleson the electricpowermeter; —Paymentforregular VAT; — ariablerentdefinedontheindicatorsof meter ofrentedsurfacepremisesnotincluding (one hundred)USdollarsperyearforonesquare Lessee maintenancecostintheamountof100 rented surfaceofpremisesnotincludingVAT; — dred) US dollars per year for one square meter of VAT; — Basicrentinamountof700(sevenhun- dredths) conventionalunits(c.u.)notincluding thousand fourhundredtenwholesand00hun- deposit thatisequalto88410.00(eightyeight Consists ofthefollowingpayments: —Security d/d. 24.12.2010 Minutes No.35 d/d. 24.12.2010 Minutes No.35 transaction the approving BD minutes No. ofGMS/ 79 80 No. rial Se- cluded forindefiniteterm. Trade Contracts.DurationoftheAgreement:Agreementiscon- transfer ofelectricenergyaccordingtotheconditionsForeign via theinterconnectorsdefinedbyAgreement-1. —Ensures tracts. — EnsuresthetransportationofelectricenergyPrincipal security oftheobligationsPrincipalonForeignTradeCon- energy (capacity)uponconditionsprovidedbytheAgreement-1asa Market andtheregulationsofwholesalemarketelectric (Capacity), theAgreementofJoiningTradeSystemWholesale established bytheRulesofWholesaleMarketElectricEnergy on themarketofelectricenergyRussianFederationinorder the expenseofPrincipal: —Purchasesandsellselectricenergy The Agentexecutesthefollowingactionsinhisownnameandat fee intheamountandorderestablishedbyAgreement-1. counteragents andthePrincipalisobligedtopayAgentagent the foreigntradecontractsconcludedbetweenPrincipalandhis supply ofelectricenergyfromtheRussianFederationtoMongoliaon expense ofthePrincipallegalandotheractionsproviding commitment ofthePrincipaltoexecuteinhisownnameandat lia toRussia).1.SubjectofAgreement:theAgentisobligedon (supply ofelectricenergyfromRussiatoMongoliaandMongo- Agent agreementbetweenJSCINTERRAOUESandOJSCVEK ary 31,2011,dateoftheendinspections —untilApril30,2011. of worksontheAgreement:datebeginning —untilJanu- plete executionbythePartiesoftheirobligations.Term 30, 2011andinthepartofexecutionscalculationsuntilcom- from themomentofitssignaturebyPartiesandisvaliduntilApril Agreement. DurationofAgreement:TheAgreementcomesintoforce indicated intheTechnicalRequirementsthatisanintegralpartof in theAgreement;EssenceofWorksandtheirrequirementsare the RussianFederationuntilapositiveresultforobjectsindicated confirmation ofthenormativevaluesinMinistryEnergetics used forcalculations,consultingmaintenanceoftheprocedure capacity standardscalculation; —verificationofjustificationdata the releasedelectricandthermalenergy; —examinationfuel transfer; — examinationandthefuelratestandardscalculationfor and theprocesslossesstandardscalculationatheatenergy the responsibilitytoeffectuatefollowingWorks: —examination Subject ofagreement:TheClientcommitsandtheExecutorassumes efficiency ofINTERRAOUES(unifiedelectricpowersystem)”. calculation betweenJSCINTERRAOUESandLLCCentreofenergy 2. Agreementofexecutionworksexaminationandthestandards 31, 2011,dateoftheendinspections —untilSeptember30,2011. Agreement: dateofbeginningworks(inspections) —untilJanuary of theirobligations.Termexecutionworks(inspections)onthe executions ofcalculationsuntilthecompleteexecutionbyParties by thePartiesandisvaliduntilSeptember30,2011inpartof The Agreementcomesintoforcefromthemomentofitssignature days fromthedateofbeginningworks.DurationAgreement: gram”) providedtotheClientbyEnergyAuditorduring7(seven) of energeticinspection(hereinafterreferredtoas“EnergyAuditPro- energy auditiseffectuatedaccordingtotheProgramofexecution Technical RequirementsthatisintegralpartoftheAgreement.The the Client(hereinafterreferredtoas“energyaudit”)according assumes theobligationstoeffectuateenergeticinspectionof tions oftheAgreementClientcommitsandEnergyAuditor UES. SubjectofAgreement:Onthebaseandaccordingtocondi- INTER RAOUESandLLCCentreofenergyefficiency 1. AgreementofexecutionenergeticinspectionsbetweenJSC essential terms) Transactions (subjectmatteroftransactionandits “Executive” of INTERRAOUES– of energyefficiency “Client”; LLCCentre INTER RAOUES — ergy Auditor”.2.JSC RAO UES —“En- efficiency ofINTER Centre ofenergy UES — “Client”;LLC JSC INTERRAO “Agent” or“Principal” INTER RAOUES — pal” or“Agent”;JSC OJSC VEK —“Princi- Parties the sametime Directors ofOJSCVEKat member oftheBoard D.N. Paluninwhoisthe JSC INTERRAOUES member oftheBoard Director ofOJSCVEK; who isalsotheGeneral RAO UESYu.V.Sharov the BoardofJSCINTER 2.1. DeputyChairmanof of JSCINTERRAOUES). 20% ofthevotingshares sessing jointlymorethan affiliated personspos- Kapital (whicharethe 1.3. CJSCINTERRAO Rosenergoatom Concern; tion Rosatom;1.2.OSC is theStateCorpora- UES: theshareholder of theJSCINTERRAO 1.1. Theshareholders Parties concerned Price No morethan7008020ruble,includingVAT. No morethan29000020ruble,includingVAT. SO UESthatisnolessthan0.01ruble/kWh. energy (capacity):OJSCATS,CJSCCFR,- organisations ofthewholesalemarketelectric INTER RAOUESfortheservicesofinfrastructure contracts consideringtheexpensesofJSC from thebuyerofOJSCVEKonforeigntrade ferred tothebuyerofOJSCVEKandreceived RAO UESdefinedontherateofonekWhtrans- In theamountofagentfeeJSCINTER d/d. 24.12.2010 Minutes No.35 d/d. 24.12.2010 Minutes No.35 transaction the approving BD minutes No. ofGMS/
161 ANNUAL REPORT JSC RAO UES / 2010 162 ANNUAL REPORT JSC RAO UES / 2010 81 82 No. rial Se- forty four)shares,totalpriceisupto1472439386ruble. amount of561944(fivehundredsixtyonethousandnine forty two)somonipereach,priceofoneshareis2620.26rublein Shestopalova street,2a,withnominalvalueof3042(threethousand GES-1, location:RepublicofTajikistan,734033,cityDushanbe, uncertified sharesofopenjointstockcompany“Sangtudinskaya payment fortheacquiredSecuritiesofIssuer: —ordinarynominal funds inrubles;TheAcquirertransfersthefollowingpropertyfor is madebynonmonetaryfundsandcanalsobemonetary 1-03-33498-E-002D. ThepaymentoftheacquiredSecuritiesIssuer Russia onNovember16,2010underthestateregistrationnumber of JSCINTERRAOUESadditionalissueregisteredbyFSR of Issueris5.35kopecksperoneordinarynominaluncertifiedshare 504 670securities;thepriceofplacementacquiredSecurities lowing conditions: —numberofacquiredSecuritiesIssuer:28898 of Issuer”)andtheAcquirerpaysSecuritiesIssueruponfol- placed byprivatesubscription(hereinafterreferredtoas“Securities 002D withnominalvalueof0.02809767rublepereachthatare vember 16,2010underthestateregistrationnumber1-03-33498-E- RAO UESofadditionalissueregisteredbyFSRRussiaonNo- ties thataretheordinarynominaluncertifiedsharesofJSCINTER Issuer places(transfers)intothepropertyofAcquirersecuri- additional sharesofJSCINTERRAOUES.SubjectAgreement:the Transaction withtheStatecorporationRosatomonplacementof Concel bySeptember20,2010. resolution oftheboardsupervisorydirectorsNPMarket the tradesystemofwholesalemarketineditionapprovedby the AppendixesnoD.16andD.16.1toAgreementofjoining to theStandardFormofAgreementscapacityprovisionthatare CJSC CFRactingasanagentofJSCINTERRAOUESaccording are concludedonthebaseofindicatedAgentAgreements Concel bySeptember20,2010.Agreementsofcapacityprovision by theresolutionofboardsupervisorydirectorsNPMarket joining thetradesystemofwholesalemarketineditionapproved that aretheAppendixesnoD.15andD.15.1toAgreementof INTER RAOUESaccordingtothestandardformofsuchagreements the capacitypurchase.AgentagreementsareconcludedbyJSC Agent agreementsandagreementofcapacityprovisionincluding essential terms) Transactions (subjectmatteroftransactionandits sato” — “Acquirer” State CorporationRo- UES —“Issuer”; JSC INTERRAO organisations) ATS (infrastructure OJSC SOUES, NP MarketConcel, wholesale market, capacity buyeronthe agent CJSCCFR,the represented bythe INTER RAOUES ity purchase:JSC including thecapac- capacity provision the Agreementsof organisations); For ATS (infrastructure OJSC SOUES, NP MarketConcel, CJSC CFR(agent), RAO UES(principal), ment: JSCINTER FortheAgentAgree- Parties RAO UES) ing sharesofJSCINTER more than20%ofthevot- persons possessingjointly (which aretheaffiliated CJSC INTERRAOKapital ergoatom Concern;1.3. satom; 1.2.OSCRosen- the StateCorporationRo- UES: theshareholderis of theJSCINTERRAO 1.1. Theshareholders at thesametime) member ofOJSCSOUES S.I. Shmatko(isthe of JSCINTERRAOUES of theBoardDirectors Market Concel;member supervisory directorofNP V.M. Kravchenko(isthe JSC INTERRAOUES Board ofDirectors time); memberofthe OJSC ATSatthesame Board ofDirectors (are themembersof of JSCINTERRAOUES, the ManagementBoard Kovalchuk, Chairmanof of DirectorsandB.Yu. member oftheBoard V.M.Kravchenko,the Parties concerned Price Up to1472439386ruble. September 20,2010). of supervisorydirectorsNPMarketConcelby edition approvedbytheresolutionofBoard pendix D.16.1.totheAgreementofjoining(in according tothestandardformthatisAp- Concel bySeptember20,2010)andconcluded board ofsupervisorydirectorsNPMarket (in theeditionapprovedbyresolutionof is theAppendixD.16toAgreementofjoining concluded accordingtothestandardformthat 4.1. totheAgreementoncapacityprovision foreseen byAppendixno4and buyer) isdefinedaccordingtotheorderthat agreement forJSCINTERRAOUES(capacity Agreement oncapacityprovision.Thepriceof by Appendixno4and4.1.tothe defined accordingtotheorderthatisforeseen for JSCINTERRAOUES(capacityvendor)is ing VAT(18percent).Thepriceofagreement (one hundredthousand)rubleperquarterinclud- validity oftheagreementinamount100000 the agentineachquarterduringalltermof UES (principal)isthefeepaidbyprincipalto The priceofagreementforJSCINTERRAO d/d. 27.12.2010 Minutes No.36 d/d. 24.12.2010 Minutes No.35 transaction the approving BD minutes No. ofGMS/ 83 No. rial Se- 624 578765ruble. of 3390.99rubles,inamount1597429shares,totalpriceisupto of Razdan,Gortsaranainstreet,RasdanskaiaTPP,withnominalvalue place oflocation:378550RepublicArmenia,Kotaikskiimarz,city pany “RasdanskaiaEnergeticCompany(RazTPP)”(OAO“RazTPP”), Issuer: — ordinary(simple)nominalsharesofopenjointstockcom- the followingpropertyforpaymentacquiredSecuritiesof also bemadebymonetaryfundsinrubles;TheAcquirertransfers acquired SecuritiesofIssuerismadebynonmonetaryfundsandcan the state registration number 1-03-33498-E-002D. The payment of the Service forFinancialMarkets)ofRussiaonNovember16,2010under power system)”ofadditionalissueregisteredbyFSR(ederal OAO (openjointstockcompany)“INTERRAOYeES(unifiedelectric Issuer is5.35kopecksperoneordinarynominaluncertifiedshareof 440 securities; —thepriceofplacementacquiredSecurities conditions: — numberofacquiredSecuritiesIssuer:11674369 and theAcquirerpaysSecuritiesofIssueruponfollowing private subscription(hereinafterreferredtoas“SecuritiesofIssuer”) with nominalvalueof0.02809767rublepereachthatareplacedby 16, 2010underthestateregistrationnumber1-03-33498-E-002D FSR (ederalServiceforinancialMarkets)ofRussiaonNovember (unified electricpowersystem)”ofadditionalissueregisteredby fied sharesofOAO(openjointstockcompany)“INTERRAOYeES of theAcquirersecuritiesthatareordinarynominaluncerti- Subject oftransaction:theIssuerplaces(transfers)intoproperty company) “INTERRAOYeES(unifiedelectricpowersystem)”. the ordinarynominaluncertifiedsharesofOAO(openjointstock NEFTEGAZ” (OAO“ROSNETEGAZ”)ofthesecuritiesthatare Transaction onpurchasebytheopenjointstockcompany“ROS- essential terms) Transactions (subjectmatteroftransactionandits GAZ” — “Acquirer” pany “ROSNEFTE- open jointstockcom- system)” — “Issuer”; (unified electricpower “INTER RAOYeES stock company) OAO (openjoint Parties at thesametime) pany) “ROSNEFTEGAZ” (open jointstockcom- Board ofDirectorsOAO (are themembersof Sechyn andS.I.Shmatko electric powersystem)”I.I. RAO YeES(unified stock company)“INTER Directors OAO(openjoint Members ofBoard Parties concerned Price Up to655810000ruble. d/d. 27.12.2010 Minutes No.36 transaction the approving BD minutes No. ofGMS/
163 ANNUAL REPORT JSC RAO UES / 2010 164 ANNUAL REPORT JSC RAO UES / 2010 holds forJanuary1,2010 ordinary stockofthejoint-stockcompanyhe the joint-stockcompanyandpartof partnership shareintheauthorisedcapitalof holds asofJanuary1,2010 ordinary stockofthejoint-stockcompanyhe the joint-stockcompanyandpartof partnership shareintheauthorisedcapitalof date oftransaction transactions ofpurchaseordisposalsharesthejoint-stockcompany date oftransaction transactions ofpurchaseordisposalsharesthejoint-stockcompany July 8,2010 July 8,2010 July 22,2010 December 2,2010 As on December 31, 2010 holds 1 998 333 333 shares shares 333 333 31, 1998 2010 holds December on As shares 000 000 31, 1200 2010 holds December of As Artamonov ViacheslavYuriyevich Dod YevgeniyViacheslavovych of JSCINTERRAOUESexecutivbodies equity transactionsmadebymembers Information aboutJSCINTERRAOUES 0.00% and 0.00% and essence oftransaction essence oftransaction purchase ofshares purchase ofshares disposal ofshares disposal ofshares December 31,2010 stock ofthejoint-stockcompanyheholdsfor joint-stock companyandthepartofordinary partnership share in the authorised capital of the December 31,2010 stock ofthejoint-stockcompanyheholdsas joint-stock companyandthepartofordinary partnership share in the authorised capital of the stock companyheholds) and thepartofordinarystockjoint- authorised capitalofthejoint-stockcompany action (inunitsandinpartnershipsharethe joint-stock companythatisthesubjectoftrans- category (type)andnumberofsharesthe stock companyheholds) and thepartofordinarystockjoint- authorised capitalofthejoint-stockcompany action (inunitsandinpartnershipsharethe joint-stock companythatisthesubjectoftrans- category (type)andnumberofsharesthe 2 683333shares(0.118%and0.118%) 6 900000shares(0.3034%and0.3034%) 685 000shares(0.0301%and0.0301%) 2 900000shares(0.1002%and0.1002%) 0.0691% and 0.1383% and transaction he holdsaccordingtotheresultsof ordinary stockofthejoint-stockcompany the joint-stockcompanyandpartof partnership shareintheauthorisedcapitalof transaction he holdsaccordingtotheresultsof ordinary stockofthejoint-stockcompany the joint-stockcompanyandpartof partnership shareintheauthorisedcapitalof 0.118% and 0.3034% and 0.0879% and 0.1383% and holds asofJanuary1,2010 ordinary stockofthejoint-stockcompanyhe the joint-stockcompanyandpartof partnership shareintheauthorisedcapitalof holds asofJanuary1,2010 ordinary stockofthejoint-stockcompanyhe the joint-stockcompanyandpartof partnership shareintheauthorisedcapitalof date oftransaction transactions ofpurchaseordisposalsharesthejoint-stockcompany date oftransaction transactions ofpurchaseordisposalsharesthejoint-stockcompany July 13,2010 July 12,2010 October 1,2010 August 2,2010 October 21,2010 September 17,2010 December 9,2010 October 11,2011 December 1,2010 As on December 31, 2010 does not hold any shares. shares. any 31, hold not 2010 does December on As shares. 000 000 31, 1005 2010 holds December on As Sharov YuriiVladimirovich Mikalaiunas Dangiras 0.00% and 0.00% and essence oftransaction essence oftransaction purchase ofshares purchase ofshares disposal ofshares disposal ofshares disposal ofshares disposal ofshares disposal ofshares disposal ofshares disposal ofshares December 31,2010 stock ofthejoint-stockcompanyheholdsas joint-stock companyandthepartofordinary partnership share in the authorised capital of the December 31,2010 stock ofthejoint-stockcompanyheholdsas joint-stock companyandthepartofordinary partnership share in the authorised capital of the stock companyheholds) and thepartofordinarystockjoint- authorised capitalofthejoint-stockcompany action (inunitsandinpartnershipsharethe joint-stock companythatisthesubjectoftrans- category (type)andnumberofsharesthe stock companyheholds) and thepartofordinarystockjoint- authorised capitalofthejoint-stockcompany action (inunitsandinpartnershipsharethe joint-stock companythatisthesubjectoftrans- category (type)andnumberofsharesthe 2 683333shares(0.118%and0.118%) 2 683333shares(0.118%and0.118%) 368 333000shares(0.0162%and0.0162%) 685 333shares(0.0300%and0.0300%) 1 300000shares(0.0449%and0.0449%) 250 000shares(0.0109%and0.0109%) 1 000333shares(0.0138%and0.0138%) 400 000shares(0.0138%and0.0138%) 345 000shares(0.0119%and0.0119%) 0.00% and 0.0347% and transaction he holdsaccordingtotheresultsof ordinary stockofthejoint-stockcompany the joint-stockcompanyandpartof partnership shareintheauthorisedcapitalof transaction he holdsaccordingtotheresultsof ordinary stockofthejoint-stockcompany the joint-stockcompanyandpartof partnership shareintheauthorisedcapitalof 0.118% and 0.118% and 0.0800% and 0.0879% and 0.0346% and 0.0770% and 0.00% and 0.0467% and 0.0347% and
165 ANNUAL REPORT JSC RAO UES / 2010 166 ANNUAL REPORT JSC RAO UES / 2010 holds asofJanuary1,2010 ordinary stockofthejoint-stockcompanyhe the joint-stockcompanyandpartof partnership shareintheauthorisedcapitalof date oftransaction transactions ofpurchaseordisposalsharesthejoint-stockcompany July 5,2010 registered modificationstotheCharterofJSCINTERRAOUESfromOctober11,2010authorisedcapitalcontaines2893027370229ordinaryshares. according totheregisteredCharterofJSCINTERRAOUESuntilOctober11,2010authorisedcapitalcontained2274113845013ordinarysharesandafterthisdate * 31, 197 2010 shares. 707 holds 736 December on As During thecalculationofpartnershipsharesinauthorisedcapitalCompanyandordinarystockbelongingtopersonsitwastakenintoconsiderationthat Palunin DmitriiNikolaievich 0.00% and essence oftransaction purchase ofshares December 31,2010 stock ofthejoint-stockcompanyheholdsas joint-stock companyandthepartofordinary partnership share in the authorised capital of the stock companyheholds) and thepartofordinarystockjoint- authorised capitalofthejoint-stockcompany action (inunitsandinpartnershipsharethe joint-stock companythatisthesubjectoftrans- category (type)andnumberofsharesthe 197 707736shares(0.0087%and0.0087%) 0.0068% and transaction he holdsaccordingtotheresultsof ordinary stockofthejoint-stockcompany the joint-stockcompanyandpartof partnership shareintheauthorisedcapitalof 0.0087% and TSA TSA OS GLOSSARY SAC FTS UES FGC TPP TGK TS UES for SO P and SPA EE of DM RAS RGC RCD RA PGU UPS EPWM AWP IDO OGK NP MDNC IFRS KPI CPT CSA GES (GTE) GTU GS GRES BM
Administrator of Administrator the trading system market of wholesale Ordinary shares shares Ordinary F F plant power Thermal companies generating Territorial Trading schedule system Energy Unified the of Operator System power and energy electrical of agreement purchase and Sales Tomorrow market Standards Accounting Russian companies generating Regional departments control Regional agreements Regulated unit power cycle Combined systems power United market wholesale power Electric period Autumn-winter Office Dispatching Interregional market wholesale of companies Generating partnership Nonprofit companies network distribution Multi-regional standards reporting financial International indicators Key performance takeoff power Competitive agreement supply Capacity companies affiliated and Subsidiary H plant) power turbine (gas unit turbine Gas supplier Guaranteeing plant) power thermal — Russia (in plant power district State market Balancing of electric power electric of ederal Tariff Service Tariff ederal System Energy Unified the of Company Grid ederal ydraulic power plant power ydraulic
kWh MVA kVA kV Hz Gcal/hour Gcal kVV Nft Eft Ton\h GW MW TERMS
Kilowatt Kilowatt-hour Megavolt-Ampere Kilovolt-Ampere Kilovolt H Gigacalorie/hour ton fuel Natural fuelton Equivalent Tons hour per Gigawatt Megawatt Gigacalorie Gigacalorie
ertz Electric Electric ertz
Unit of measurement of electric electric of measurement of Unit electric power electric produced of measurement of Unit capacity of measurement of Unit capacity of measurement of Unit voltage of measurement of Unit frequency Current capacity thermal of measurement of Unit Unit of measurement of Unit measurement of Unit capacity steam-generating of measurement of Unit capacity electric of measurement of Unit capacity electric of measurement of Unit capacity Unit Unit of of measurement thermal energy
167 ANNUAL REPORT JSC RAO UES / 2010 168 ANNUAL REPORT JSC RAO UES / 2010 e-mail: e-mail: Fax: Phone: department: relations Public Phone: shareholders: for line Hot FOR SHAREHOLDERS: CONTACT INFORMATION website: Corporate e-mail: Fax: Phone: F cow, 123610, Russian the Nab, 12,7,Entrance Krasnopresnenskaya Mos address: Mailing F cow, 123610, Russian the Nab, 12,7,Entrance Krasnopresnenskaya Mos address: Legal (JSCINTERRAOUES) INTER RAOUES [email protected] +7 (495) 967-05-26 +7 (495) 967-05-27 +7 (495) 710-89-83 www.interrao.ru [email protected] +7 (495) 967-05-26 (multi-channel) +7 (495) 967-05-27 JOINT STOCKCOMPANY CONTACT INFORMATIONO ederation ederation ederation - - fax: fax: e Tanya A Amaya, http://www.bnymellon.com/ York New of Mellon Bank The DEPOSITARY BANК Fax: Phone: 115035 Russia, 77, Nab., 1,Building Sadovnicheskaya Moscow, address: Legal Young and Ernst Company Joint-Stock AUDITOR e mailto: Fax Tel E14London Square Canada One Services Issuer York New of Mellon Bank The V Lewis, Mark phone: phone: York, 10286 New NY 22 101 Street Barclay Receipts Depositary York New of Mellon Bank The ‑ ‑ mail: mail: mail: mail: ‑ nd F nd West loor 5AL +1-212-571 [email protected] 020.7964.6024 020.7964.6089 [email protected] +1-212-815 [email protected] P V +7 (495) 755-97-01 +7 (495) 705-97-00 P ‑ ‑ 30 28 ‑ ‑ 92 50 of JSC INTER RAO UES: RAO INTER JSC of shareholders for holder register of Call-center Web-site: Fax: Phone: str., 9, 107996 18, Moscow, POB Stromynka address: Mailing R.O.S.T Registrator JSC REGISTER HOLDER Russia) and e-mail: [email protected] e-mail: and Russia) across free is (call 8-800-700-03¬70 Phone: www.rrost.ru (495) 771-73-34 (495) 771-73-35 Yaroslavl regionalbranch Aktsiya-Reyestr Yuzhno-Sakhalinsk Branch Electrostal Branch Chelyabinsk regionalbranch Ulyanovsk regionalbranch Tambov regionalbranch Separate subdivisioninSyktyvkar Stavropol Branch Mordovia republicBranch Separate subdivisioninSt.Petersburg Samara Branch Podolsk Branch Kamchatka Branch Separate subdivisioninPerm Omsk Branch Novosibirsk Branch Branch ofNizhnyNovgorod Kurgan RegionalBranch Krasnoyarsk Branch Krasnodar Branch Kostroma regionalbranch Komsomolsk-on-Amur Branch Alpari KemerovoBranch Kaluga regionalbranch Irkutsk Branch Separate subdivisioninIvanovo Zheleznogorsk Branch Separate subdivisioninGorno-Altaysk Voronezh regionalbranch Separate subdivisioninVologda Separate subdivisioninVolgograd Vladivostok Branch Separate subdivisioninBratsk Oktyabrskiy Branch Archangelsk Branch Name BY JCSREGISTRATORR.O.S.T. BRANCHES REGISTERED 17/14, Trefolevstr., Yaroslavl,150000 20, KarlMarksstr., office210,Yuzhno-Sakhalinsk,693000 1, Zheleznodorozhnayastr.,Electrostal, Moscowregion144002 93/B, Dzerzhinskystr.,office601,602, Chelyabinsk,454078 5, Sovietskayastr.,room72,Ulyanovsk, 432011 POB 67,Tambov,392000 16a, Derzhavinskayastr.,office40,416 cab.,Tambov392000 9, Garazhnayastr.,Syktyvkar,KomiRepublic167000 36, Dovatortsevstr.,Stavropol,355037 100, Leninave.,Saransk,RepublicofMordovia,430003 15, 26lineofVasilevskiyIsland,Building2,letterA,St.Petersburg199026 44, Novo-Sadovayastr.,Samara,443110 57, Fevralskayastr.,Building1,Podolsk,MoscowRegion,142100 35, KarlMarksave.,Petropavlovsk-Kamchatsky,theKamchatkaRegion,683000 24, Kirovastr.,Perm,614000 80/18, Frunzestr.-Gertsenastr.,office726/9,Omsk,644007 50, Kommunisticheskayastr.,Novosibirsk,630007 4/2, M.Gorkiysquare.,office9,NizhnyNovgorod,603000 144, Kuibyshevstr.,3rdfloor(forexpress-mail),Kurgan640006 144, Kuibyshevstr.,POB1098,Kurgan,640006 117, Uritskiystr.,office504,Krasnoyarsk,660017 176, Krasnayastr.,4thfloor,Krasnodar,350020 4, Komsomolskayastr.,office39,Kostroma,156002 681016 13, Miraave.,building3,Komsomolsk-on-Amur,681016POB7, 6a, Sobornayastr.,Kemerovo,650004 4, Smolenskiylane,office7,Kaluga,248600 6, Leninastr.,office302-A,Irkutsk,664000 52, Bubnovstr.,Ivanovo,153012 27, Gornyakovstr.,Zheleznogorsk,Kurskregion,307170 139, Kommunisticheskiyave.,Gorno-Altaysk,RepublicofAltai,649002 68, KarlMarksstr.,Voronezh,394006 55, Komsomolskayastr.,office103,Vologda,160019 9, BogomoletsAc.Str.,3rdfloor,Volgograd,400033 82, Svetlanskayastr.,Vladivostok,690001 POB 1071,Bratsk-12,665712 127A, Leninaave.,Barnaul,656011 Lomonosova str.,Archangelsk,163061 Mailing address (4852) 32-83-15,32-89-49 (4242) 42-32-43 (49657) 2-95-54,7-13-76 (351) 239‑0225, 239-02-26 (8422) 41-25-26 (4752) 71-43-68,72-71-41 (8212) 29-33-84 (865-2) 77-07-13 (834-2) 27-01-54 (812) 322‑7627, 322-48-91 (846) 273‑8448, 273-84-28 (4967) 55-77-01 (4152) 25-24-70 (342) 259‑1036, 259-10-46 (381-2) 433-156 (383) 218‑7677, 218-76-79 (831) 434-11-19 (3522) 46-65-80 (391) 212-08-21 (861) 255‑2101, 2-100-328 (4942) 31-02-05 25-26-10 (4217) 25-27-17,59-16-13, (3842) 35-30-78,35-26-97 (4842) 58-08-65 (3952) 20-33-40 (4932) 32-65-80 (47148) 4-70-26 (38822) 6-40-90 (473) 253-11-61 (8172) 54-30-40 (8442) 79-82-80 (4232) 22-89-38,21-17-95 (3953) 35-95-82 (3852) 77-78-35,77-64-58 (8182) 63-31-62,63-31-68 Phone
169 ANNUAL REPORT JSC RAO UES / 2010