Enel Russia holds annual general shareholders’ meeting

Published on Tuesday, 5 June 2018

Moscow, June 4th, 2018 – The Annual General Shareholders’ Meeting of PJSC Enel Russia was held in Moscow today, and was attended by shareholders holding in aggregate 87,48 percent of the total voting stocks. The list of persons eligible to participate in the meeting was drawn up as of May 10th, 2018. Among the main issues on the agenda were the approval of the company’s annual report and annual financial statements for 2017, the approval of the distribution of profit (including the payment of dividends) and of the losses of PJSC Enel Russia on the results of 2017 financial year and the election of its new Board of Directors and Internal Audit Commission.

“Enel Russia achieved positive results in 2017 which contributed to the growth of the company’s shares by 43% throughout the year, one of the highest increase compared to the market and competitors. We managed not only to reach our financial targets but also to move forward in the implementation of our strategic initiatives, including our entry into the renewables market. We have also increased our dividend payout ratio to 60% applicable to 2017 results vs. the 55% of the previous year, thereby fulfilling the announced targets on the increase of our shareholders’ remuneration”

– Carlo Palasciano Villamagna, General Director of PJSC Enel Russia

The Annual General Shareholders’ Meeting approved the annual report and the annual financial statements of the company for 2017. Acting on a proposal by the Board of Directors, the Shareholders’ Meeting approved the distribution of dividends totalling around 5.1 billion RUR or 0.14493 RUR/share, with that amount corresponding to 60% of the company’s IFRS net ordinary income for 2017. The Assembly set June 22nd, 2018 as the Dividend Record Date. PJSC Enel Russia’s Shareholders’ Meeting elected a new Board of Directors composed of 11 members:

Stephane Maurice

Zweguintzow Roberto

Antonio Enzo

Deambrogio Rodolfo

Avogadro Di Vigliano

Marco Fragale Maria

Antonietta Giannelli

Andrea Palazzolo

Andrea Guaccero

Giorgio Callegari

Tagir Sitdekov

Denis Mosolov

Alexander Arthur John Williams

The General Shareholders Meeting also elected the company’s Internal Audit Commission and appointed Limited Liability Company Ernst & Young as PJSC Enel Russia’s auditor. The Annual General Shareholders’ Meeting approved an amended version of the company’s Charter and the procedure for convening and holding meetings of the Board of Directors. During the Meeting, a new version of the Regulation on payment of remuneration and compensations to the company’s Board of Directors members has been approved. Besides these topics, Shareholders discussed the implementation of two existing wind projects in Murmansk and Rostov regions. Enel Russia was awarded the right to implement these projects a year ago, following the results of the Russian government tender for the construction of renewable capacity in the country. The Annual General Shareholders’ Meeting approved the transfer of capacity supply agreements from PJSC Enel Russia to its subsidiaries, LLC Enel Rus Wind Kola and LLC Enel Rus Wind Azov that will be responsible for the wind projects implementation. The issue of independent guarantee and the conclusion of Suretyship agreement for these companies, as well as the loan agreement between PJSC Enel Russia and LLC Enel Rus Wind Kola received all necessary approvals. The abovementioned actions represent the standard business practice and are requested for the further implementation of the projects.

An Enel Group subsidiary, PJSC Enel Russia operates the following power plants: Konakovskaya GRES, Nevinnomysskaya GRES, Sredneuralskaya GRES and Reftinskaya GRES. The company’s total gross installed electrical capacity is 9,428.7 MW (equivalent to 8,878.4 MW net installed capacity) and thermal capacity is 2.382 Gcal/h. PJSC Enel Russia’s authorised capital is 35,371,898,370 roubles, which is divided into ordinary shares with a par value of 1 rouble. The Enel Investment Holding B.V. share in the company’s authorised capital is 56.43%, PFR Partners Fund I Limited’s share is 19.03%, VTB Bank’s share is 3.87%, Prosperity Capital Management Limited’s share is 8.23% and other minority shareholders’ share is 12.44%. PJSC Enel Russia shares are listed in Level 1 MICEX quotation list. The company was established in Yekaterinburg on October 27th, 2004 as OJSC OGK-5. On July 7th, 2009 by the resolution of Annual General Shareholders’ Meeting the company was renamed OJSC Enel OGK-5 and on August 8th , 2014 the Federal Tax Service registered the new version of the company’s charter with the name OJSC Enel Russia. On June 25th, 2015 the company changed its legal type and was renamed PJSC Enel Russia.