OGK-2 Group 6M 2017 IFRS Results August 28, 2017

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Operational and Financial Highlights Operational Highlights1 Financial Highlights, mn RUR 6М 2016 6М 2017 Change Electricity Output, mn kWh 31,179 32,633 +4.7% Effective Electricity Output Without Regard to Financial Operations, mn kWh 29,278 30,513 +4.2% Useful Heat Output, thousand Gcal 3,518 3,501 -0.5% Fuel Rate on Electricity, g/kWh 336.8 336.4 -0.1% Fuel Rate on Heat, kg/Gcal 152.9 155.5 +1.7% Installed Capacity Load Factor, % 38.6 39.6 +1.0 p.p. 6М 2016 6М 2017 Change Revenue 59,720 70,094 +17.4% Operating Expenses, incl. (54,982) (58,336) +6.1% Variable Costs2 (36,425) (39,258) +7.8% Fixed Costs2 (14,628) (13,544) -7.4% Depreciation and Amortization (3,929) (5,534) +40.9% Other Operating Income (Expense) (49) (238) x3.9 Operating Profit 4,689 11,519 +145.7% EBITDA3 8,619 17,053 +97.9% Profit/ Total Comprehensive Income for the Period 2,419 6,826 +182.2% 1 Management report data 2 Variable and fixed costs classification is based upon management report methodology 3 EBITDA = Operating profit + Depreciation and Amortization

Revenue Revenue Structure, bn RUR Prices and Tariffs1 6М 2017 Average electricity price at the free market, RUR/MWh 1,136.3 Average heat tariff, RUR/Gcal 780.4 Average price for new capacity, RUR/MW per month 758,263.0 Average price for old capacity, 134,932.2   Electricity and Capacity Revenue Structure for 6М 2017 г.1 Structure of Electricity Sales Volume at the Wholesale Market for 6М 20171 1 Management report data

Variable Costs Variable Costs Change Factors Variable Costs Structure, mn RUR 6М 2016 6М 2017 Change Fuel Expenses 30,826 33,189 +7.7% Purchased Heat and Electricity 5,451 5,962 +9.4% Ecology Payments 148 107 -27.7% Total Variable Costs 36,425 39,258 +7.8% Increase of fuel expenses was due to higher electricity production, as well as growing fuel prices. Purchased electricity expenses growth accounted for increased purchase volumes at the wholesale market. Lower ecology payments resulted mainly from decreased volume of extracted bottom ash waste at Troitskaya station. Fuel Expenses, mn RUR Fuel Consumption, thous. t +7.7% 1 Management report data

Fixed Costs and Depreciation Fixed Costs and Depreciation Change Factors Fixed Costs Structure, mn RUR Depreciation and amortization growth was due to commissioning under CSA at Troitskaya and Novocherkasskaya stations. Rent expenses increase resulted from growing rent at Adlerskaya station. Taxes grew mainly on the account of increased water payments at Stavropolskaya, Novocherkasskaya and Krasnoyarskaya-2 stations, on the back of increased production and tariff, as well as growing property tax, as a result of commissioning under CSA at Troitskaya station. Decreased maintenance and repair expenses were due to lower service expenses for gas turbines at Adlerskaya station in 6M 2017. Lower other fixed costs mostly resulted from decrease of raw and other materials expenses at Adlerskaya station, on the back of lower service expenses for gas turbines in 6M 2017. 6М 2016 6М 2017 Change Employee Benefit 3,931 3,593 -8.6% Maintenance and Repair Expenses 1,888 1,535 -18.7% Fee of the System Operator 998 1,024 +2.6% Taxes Other than Income Tax 1,549 1,795 +15.9% Rent 1,161 1,381 +18.9% Other Fixed Costs 5,101 4,216 -17.3% Total Fixed Costs 14,628 13,544 -7.4% Total Fixed Costs, mn RUR Depreciation and Amortization, mn RUR +40.9% -7.4%

EBITDA and Profit EBITDA, mn RUR Profit Bridge for 6M 2017, mn RUR +97.9%

Debt Debt Structure, mn RUR Debt Maturity Profile, as of June 30, 2017, mn RUR Net Debt, mn RUR1 Net Debt/ EBITDA 3.30 1.97 -15.0% 1 Net debt = Total amount of borrowings less cash and cash equivalents

Thank You For Your Attention! IR contacts: Natalya Grizel Tel.: +7(495)428-54-28, ext. 2416 Email: Grizel.Natalya@ogk2.ru