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Investor Presentaiton

Change in technology mix and stagnating electricity enel prices continue putting pressure on margins Average unitary selling price (RUB/MWh)1 +9% -3% without RGRES in 9M 2019 Average unitary cost of sales (RUB/MWh)² +24% +4% without RGRES in 9M 2019 1 149 1 251 1 183 955 9M 2019 9M 2020 9M 2019 9M 2020 Average unitary margin (RUB/MWh) -65% -56% without 194 RGRES in 9M 2019 67 9M 2019 9M 2020 1. Including regulated power sales, day ahead market and balancing market sales 2. Including fuel cost and energy purchases 7

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