FGC BoD terminates authority of Management Board

Federal Grid Company Board of Directors terminates authority of Management Board

18 May 2020, Moscow - Federal Grid Company of Unified Energy System ("Federal Grid Company" or "the Company") (Moscow Exchange, LSE: FEES), part of the ROSSETI Group of companies and operator of Russia's Unified National Energy Grid ("UNEG"), announces that its Board of Directors on 15 May 2020 took the decision of early termination of the authority of the Management Board of FGC UES, PJSC.

The Board of Directors approved the early termination of the authority of the following members of the Management Board: Alexander Zaragatsky, Alexey Molskiy, Sergey Terebulin, Maria Tikhonova, and Dmitry Vodennikov, effective from 15 May 2020.

This decision by the Board of Directors was taken in accordance with and following the resolution of the Annual General Meeting of Shareholders (AGM) on 15 May 2020 to approve early termination of authorities of Andrey Murov (the Sole Executive Body - Chairman of the Management Board of FGC UES, PJSC) starting from the effective date of the Agreement on Transfer of Powers of the Sole Executive Body of FGC UES, PJSC to PJSC ROSSETI; as well as the AGM's approval of the subsequent delegation of authority of the sole executive body of FGC UES, PJSC to a management organisation, i.e. Public Joint Stock Company ROSSETI (PJSC ROSSETI).