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Russian Power Generation Subsidiaries of Inter RAO Group Announce RAS Financial Results for the First Six Months of 2018

Inter RAO Group acquires its shares from RusHydro Group

5 July 2018

JSC Inter RAO Capital (subsidiary company of PJSC Inter RAO) and RusHydro Group signed a purchase agreement for 4.915% of PJSC Inter RAO shares. The total cost of the transactions is RUB 17.2 billion.

On the day of closing the transaction,1 the main shareholders of PJSC Inter RAO will be: Rosneftegaz Group — 27.63%, FGC UES Group — 12.24%, Inter RAO – Capital Group — 29.42%. Free float becomes 30.71%.

According to the Group Development Strategy until 2020, the shares of PJSC Inter RAO owned by JSC Inter RAO Capital could be sold to a large international strategic investor or to a group of financial investors, leading to a potential increase of free float shares, or for other transactions aimed at enhancing the investment attractiveness.

'Development of the optimal share capital structure is one of the key steps in implementation of the Group's Development Strategy until 2020,' Boris KOVALCHUK, the Chairman of the Management Board of PJSC Inter RAO, said. 'The deal with RusHydro, along with acquisition of our shares from FGC UES, is an effective investment of the Group's finance resources into one of the most attractive assets in the industry for the benefit of all shareholders interested in the Group's long-term development. As a result of these transactions, we optimized the structure of our share capital and increased the participation of the anchor strategic shareholders in it.'

The major part of the shares sold in this transaction had been acquired by RusHydro Group in 2011 through a share investment of the shares of some electricity companies into the authorized capital of OJSC Inter RAO UES by OJSC RusHydro and LLC Index of Energy – HydroOGK (as part of additional issue of shares of OJSC Inter RAO UES).

1 At the time when the ownership rights for PJSC "Inter RAO” shares are being transferred to JSC "Inter RAO Capital”

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Inter RAO Group buybacks its shares from PJSC FGC UES
financial statements
prepared according to
for the 9 months of 2018
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Inter RAO Group is a diversified energy holding serving various segments of Russian and international electric power industry. The Group is the leading exporter and importer of electricity in Russia actively increasing electricity generation and sales, and developing new lines of business.

The corporate strategy of Inter RAO is focused on making Inter RAO a global energy enterprise, a key player in the global energy market, and Russia's leading electric utility by energy efficiency. Inter RAO Group owns and operates approximately 33.7 GW of installed power generation capacity.