Kubanenergo PJSC (part of Rosseti group of companies) held the AGM on 25 May 2018 chaired by Alexander Fadeev, Chairperson of the Board of Directors of Kubanenergo PJSC, Chief Adviser at Rosseti PJSC. The meeting discussed the Company’s production and financial performance in 2017.

Shareholders discussed and adopted decisions on the following agenda items: approval of the Company’s annual report; annual financial statements, including profit and loss statements (profit and loss accounts) of the Company; distribution of the Company’s profit based on the results of 2017; size, period and form of payment of dividends for2017; election of members of the Board of Directors (Supervisory Board) of the Company and members of the Company’s Auditing Commission (Internal Auditor); approval of the Company’s auditor; approval of restated documents: Charter of the Company;, Regulations on the Board of Directors, Regulations on the Management Board and Regulations on Payment of Remunerations and Compensations to the Members of the Auditing Committee; participation of Kubanenergo PJSC in the Association “NP Market Council”.

Presidium of the AGM consisted of: Vadim Yakushev, Deputy Minister of Fuel and Energy Complex and Housing and Communal services of the Krasnodar Region; Evgenia Shumeiko, Deputy of the Legislative Assembly of the Krasnodar Region, Secretary of the Committee for Construction and Housing and Communal Services; Alexander Fadeev, Chairperson of the Board of Directors of Kubanenergo PJSC, Chief Advisor at Rosseti PJSC; Svetlana Balaeva, Member of the Board of Directors, Chief Adviser at Rosseti PJSC; Igor Shishigin, Deputy General Director for Technical Issues – Chief Engineer of Kubanenergo PJSC.

Opening the meeting, Alexander Fadeev noted that in the past year, despite the difficult economic conditions, affiliated company of Rosseti – Kubanenergo PJSC showed steady development. Thanks to coordination of Rosseti of operational, investment and financial processes, Kubanenergo ensured stable operation of networks and reliable power supply to customers in the Kuban region. Such synchronized approach allowed to achieve positive results in the main production indicators.

In his report on the main activities of the company and its performance in 2017, Igor Shishigin, Deputy General Director for Technical Issues - Chief Engineer of Kubanenergo PJSC, said that last year the company continued to develop in accordance with the programme of safe supply and energy saving, ensuring the sufficiency of the energy infrastructure of the Krasnodar region and the Republic of Adygea. Following the results of 2017, Kubanenergo put 7 billion rubles in the investment programme. The company commissioned about 400 MVA of transformer capacity. The company’s net profit exceeded 525 million rubles.

In general, Kubanenergo fulfilled its main task in 2017: it provided reliable, high-quality power supply to customers and strengthened the image of the company, which has great significance for the sustainable socio-economic development of the Krasnodar region and the Republic of Adygea.

During the AGM, the shareholders also took into consideration the recommendations of the Board of Directors of Kubanenergo PJSC on the distribution of profit, which is 525.276 million rubles, and on payment of dividends in amount of 321.570 million rubles (1.0585165 rubles per one ordinary share of the Company).

Information on the results of voting and decisions of the AGM will be disclosed by the Company in the Interfax news no later than May 28, 2018.