"MOESK" held the annual General Meeting of Shareholders following the results of 2018

On June 14, the annual General Meeting of Shareholders of PJSC Moscow United Electric Grid Company ("MOESK", part of the Rosseti Group of Companies) took place. The owners of 46,065,704 thousand ordinary shares of the Company took part in its work, which amounted to 94.58% of the voting shares.

The following items are included in the agenda of the Meeting:

1. On approval of the annual report, annual accounting (financial) statements.

2. On the distribution of profits (including the payment (declaration) of dividends) and losses based on the results of 2018.

3. On the election of members of the Board of Directors.

4. On the election of members of the Audit Commission.

5. On the approval of the auditor.

6. On approval of the Charter in a new edition.

7. On approval of the new edition of the Regulation on the General Meeting of Shareholders.

8. On approval of the new edition of the Regulation on the Board of Directors.

9. On approval of the new version of the Regulation on the Management Board.

10. On approval of the Regulation on the payment of remuneration and compensation to members of the Board of Directors in a new edition.

The meeting chairman, Pavel Livinsky, in his opening remarks noted that the key areas of activity of PJSC "MOESK" in 2018 were related to the launch of digital transformation of the electric grid complex, the preparation and holding of the World Cup, simplifying the process of technological connection, increasing the reliability of energy equipment and reducing loss of electrical energy during transmission.

“As part of the implementation of the“ Digital Transformation 2030 ”concept of the "Rosseti" group of companies, work began in "MOESK" on building a digital network in the capital region. A unique digital substation of 110 kV "Medvedevskaya" was put into operation, a pilot project of a digital distribution station was implemented at the "Western Electric Networks" and "Moscow Cable Networks branches", the innovative "Digital Electrician" project was launched, aimed at automating the operational and technological management of the electric grid complex ”- emphasized in his speech the General Director of PJSC "Rosseti" Pavel Livinsky.

"MOESK" General Director Peter Sinyutin noted that 2018 was a very dynamic year for the company. Under the leadership of "Rosseti", projects were implemented aimed at digital transformation of the electric grid complex of the capital region. Their introduction will in the long run significantly increase the efficiency of technological processes.

"The main task was realized - high reliability of power supply to consumers was ensured. Reduced duration and frequency of outages. Until 1 h. 17 min. reduced average power recovery time. The level of electricity losses has been reduced to 8.10%, and by the end of this year it is planned to lower this figure below 8%. At the end of 2018, record growth in revenue from the sale of technological connection (TP) services was demonstrated by 25%, while the term for the implementation of TP agreements was reduced to 70 days. All this made it possible to show a growth in net profit (from 2.67 billion rubles in 2017 to 4.04 billion rubles in 2018) and an increase in the level of dividend payment (from 1.54 billion rubles in 2017 to 2 , 87 billion rubles in 2018). We clearly understand that in order to maintain positive trends in revenue growth and dividend payment, it is necessary to develop and expand the range of additional services. Implementation of pilot digital projects will continue," Petr Sinyutin emphasized in his speech.

The shareholders considered all issues on the agenda of the Meeting, decisions on which will be disclosed in accordance with the requirements of the current legislation of the Russian Federation.