Dear Shareholders!

2016 became not only successful in all key operational indicators for the RusHydro Group, but also laid the fundamentals for transformations aimed at Company’s sustainable growth.

Approval of the Strategy, fund raising to refinance the RAO ES of the East Subgroup debt, launch of a large cost optimization program, RAO ES of the East consolidation – these and other important events demanded a tense, coordinated work of the governing bodies. They would not have been possible without a strategic initiative, a clear vision and the will to achieve results. All these qualities were fully demonstrated by the Board of Directors, its Committees and management.

The work carried out in 2016 to introduce the Corporate Governance Code into practice showed a good dynamics of the Company’s compliance with the principles of corporate governance. The work on the corporate governance development will be continued in 2017 and in the future. For us, transparent and effective corporate governance was and will be the key to the successful and sustainable development of RusHydro Group.

Andrew Kazachenkov
Member of the Management Board – First Deputy CEO