Investor Presentaiton

Increased prices on higher share of CCGT was offset enel by growing cost of sales due to technology change Average unitary selling price (RUB/MWh)1 +9% -3% without RGRES in Q1 2019 1,161 1,269 Q1 2019 Q1 2020 Average unitary cost of sales (RUB/MWh)² +21% Average unitary margin (RUB/MWh) -41% 218 128 -30% without RGRES in Q1 2019 +1% without RGRES in Q1 2019 Q1 2019 Q1 2020 1.141 943 Q1 2019 Q1 2020 1. Including regulated power sales, day ahead market and balancing market sales 2. Including fuel cost and energy purchases

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