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The Annual General Meeting of Shareholders of OAO EuroSibEnergo held in Moscow on June 29.

The Annual General Meeting of Shareholders of OAO EuroSibEnergo held in Moscow on June 29.
The meeting made the following decisions:

• Elect Andrey Likhachev as the Chairman of the General Meeting of Shareholders of OAO EuroSibEnergo;
• Approve the annual report of OAO EuroSibEnergo for 2011, including the key performance indicators of the Companies of the Group. In 2011, they developed in different ways. For instance, electric energy output amounted to 80.4 bln kWh, which is 7.6% less than in 2010, while heat energy output totaled 27.154 thousand Gcal, which is 9% less than in 2010. On the other hand, the coal segment was growing steadily. In 2011, the Company’s coal production increased by 8.5% and amounted to 15.8 mln tonnes;
• Approve the annual accounting statements of OAO EuroSibEnergo prepared in accordance with RAS, including the profit and loss statement for 2011. Revaluation of the core assets (controlling stakes in OAO Irkutskenergo and OAO Krasnoyarskaya HPP) under negative stock market conditions in 2011 caused the Company’s net loss. Due to this, profit distribution and dividend payment issues of OAO EuroSibEnergo were not considered. At the same time, as OAO EuroSibEnergo is a holding company, the statements under IFRS provide more accurate information on the Company’s performance. All consolidated financial results grew steadily in 2011. The revenue of EuroSibEnergo increased by 13.9% and amounted to RUB 99.248 bln; the adjusted EBITDA increased by 10.1% to RUB 30.179 bln. The net profit adjusted for the impact of derivatives and unrealized exchange rate differences totaled RUB 13.854 bln, which is 55.2% higher compared to 2010.
• Approve ZAO 2K -Audit-Business Consulting as the auditor of OAO EuroSibEnergo for 2012;
• Elect Antonina Sukhodol, Elvira Alexandrova and Irina Surina to the Audit Commission of OAO EuroSibEnergo;
• Approve the new version of the Charter of OAO EuroSibEnergo;
• Elect Evgeny Fedorov as the CEO of OAO EuroSibEnergo since July 13, 2012 for one year.



Evgeny Fedorov, CEO of OAO EuroSibEnergo: “The growth of EuroSibEnergo‘s consolidated financial results under IFRS has again proved that the Group’s asset development strategy is successful. In spite of a certain decrease in performance, positive financial results will enable us to invest more actively in upgrading the assets, which will improve their reliability and efficiency; this will also enable us to develop new capacities in order to meet the growing demand for electricity in Siberia.”

Press service of OAO EuroSibEnergo

EuroSibEnergo (www.eurosib.ru) is the largest private energy company in Russia owned by En+ Group. It operates 18 power plants with the total installed capacity of 19.5 GW. The Company’s large HPPs of the Angara-Yenisei cascade (Krasnoyarskaya, Bratskaya, Ust-Ilimskaya and Irkutskaya) account for over 15 GW of this capacity. EuroSibEnergo also owns coal deposits whose reserves total about 1.2 bln tonnes, as well as marketing and engineering companies. In 2011, power plants of OAO EuroSibEnergo generated over 80 bln kWh of energy.

Moscow
29 June 2012

June 29, 2012
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