Independent Directors and their role

Independent directors bring in well-balanced opinions and exercise unbiased judgment based solely on their experience and expertise. Independent directors and their input to the work of the Board of Directors enhance the trust and confidence of shareholders and a wide range of investors, improve the quality of management decisions, and promote compliance with corporate governance principles.

RusHydro meets Moscow Exchange’s requirements in terms of the number of independent directors serving on its Board of Directors. There are four independent directors serving on the Company’s Board of Directors: Maxim Bystrov, Pavel Grachev, Sergey Ivanov and Vyacheslav Pivovarov. Independent directors review the Company’s financial statements, conduct financial performance analysis and monitor the Group’s delivery against targets.

The existing independent directors are assessed for compliance with the independence criteria on a quarterly basis during their tenure as part of the procedure for confirming compliance with the Moscow Exchange listing requirements, and their personal details and information provided by them on a regular basis are used for this purpose.