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Annual Report 2015

Value Creation for Shareholders

Stock Market

Shares of Federal Grid Company are traded on the “Level 1» quotation list of CJSC MICEX Stock Exchange, which is a member of PJSC Moscow Exchange Group, and are included in the list of securities traded at PJSC St.Petersburg Exchange. The Company shares are included in the index calculation base of key Russian and foreign indices.

Information on Federal Grid Shares

Share category Ordinary registered non-documentary
Nominal value RUB0.50
Bloomberg Code FEES RX
Federal Grid’s free-float as of the end of 2015

Inclusion of Federal Grid Shares in Key Stock Indices (weight in indices, %, as of 31 December 2015)

MICEX Index 0.19
RTSI 0.19
The RTX Energy (Vienna Stock Exchange) 12.48

Stock Indices and Federal Grid Shares in 2015, %

2015 Share Performance

In 2015, the MICEX PWR sector index performance was broadly consistent with the MICEX Index performance.

In the reporting year, shares of Federal Grid Company outperformed the market and the MICEX PWR sector index. Since the beginning of the year, the Company’s share price has increased by 30% (from RUB0,047 in the beginning of the year to RUB0,057 at the end of the year) against an increase by 26% and 18% demonstrated by the MICEX Index and MICEX PWR respectively.

Federal Grid share price increase in January-February was driven mainly by expectations of a reduction of the Company’s investment program, as well as a discussion of anti-crisis plan of the Government of the Russian Federation, including measures to support electric grid companies.

Further growth of Federal Grid stock prices slowed down due to an adverse impact of several factors, including the following:

  • Slowdown in Russia’s economic growth and inflation rate, affecting the attractiveness of internal market-oriented companies
  • Problems with mid-term forecasts for tariff regulation in the industry
  • Switch to settlements with consumers based on actual capacity

Key Parameters of Federal Grid Share Trading

    2011 2012 2013* 2014 2015
Volume units 476,111,513,800 619,919,120,000 989,348,930,000 1,068,425,610,000 448,624,060,000
RUB 159,370,754,044 147,513,331,183 116,812,022,883 65,320,385,91628,939,553,091
Number of deals units 2,043,606 2,698,318 3,235,854 2,390,457 1,683,326
Low RUB 0.21111 0.1513 0.07508 0.02900 0.0440
High RUB 0.481 0.3768 0.226 0.0939 0.0804
Period end RUB 0.2811 0.20104 0.09016 0.04569 0.0594
Number of shares mln, shares 1,255,948 1,260,387 1,267,141 1,274,665 1,274,665
Capitalisation at year end RUB, mln 351,163.1 253,904.89 114,600.23 56,110.77 74,861.09

For further information of share trading, please refer to website www.fsk-ees.ru Section Investors / Share Information / Interactive Stock Chart

Global Depository Receipt Programme

On 30 June 2008, Federal Grid Company launched a global depository receipt (GDR) programme, which was not listed under Regulation S and Rule 144A. In 2011, the Company completed a technical listing of depository receipts on the Main Market of the London Stock Exchange (LSE), which began trading Federal Grid Company GDRs on 28 March. From 1 July 2013, the Programme’s depository bank is the Bank of New York Mellon (BNY Mellon). As of 31 December 2015, the GDR programme represented 0.48% of the Company’s share capital.

GDR Programme Highlights

  Regulation S Rule 144A
Ratio 1 GDR: 500 shares 1 GDR: 500 shares
International Code ISIN: US3133542015 CommonCode: 036273577 ISIN: US3133541025 CommonCode: 0362733372
Price per GDR as of 31 December 2015 ISIN: US3133542015 -
Number of GDRs as of 31 December 2015 CommonCode: 036273577 46,034

GDR Programme Volume

GDR Price and Trading Volume, LSE

For further details on trading in the Company’s depository receipts, please refer to our website www.fsk-ees.ru Section Investors / Share Information / Global Depository Receipts Updates about the GDR Programme are also available on the LSE website at www.londonstockexchange. com, under Federal Grid Company’s ticker: FEES

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