OGK-2 Group 2017FY IFRS Results March 12, 2018

Disclaimer The information contained herein has been prepared using information available to JSC “OGK-2” (hereinafter - OGK-2 or the Company) at the time of preparation of the presentation. Since making a presentation, on the activities of OGK-2 and the content of the presentation could affect the external or other factors. In addition all relevant information about OGK-2 may not be included in this presentation. No representation or warranty, expressed or implied, is made as to the accuracy, completeness or reliability of the information. Any forward looking information herein has been prepared on the basis of a number of assumptions which may prove to be incorrect. Forward looking statements, by the nature, involve risk and uncertainty. OGK-2 cautions that actual results may differ materially from those expressed or implied in such statements. Reference should be made to the most recent Annual Report for a description of the major risk factors. This presentation does not constitute or form part of any advertisement of securities, any offer or invitation to sell or issue or any solicitation of any offer to purchase or subscribe for, any shares in OGK-2, nor shall it or any part of it nor the fact of its presentation or distribution form the basis of, or be relied on in connection with, any contract or investment decision.

Operational and Financial Highlights Operational Highlights1 Financial Highlights, mn RUR 2016 2017 Change Electricity Output, mn kWh 67,086 63,433 -5.4% Effective Electricity Output Without Regard to Financial Operations, mn kWh 63,027 59,252 -6.0% Useful Heat Output, thousand Gcal 6,355 6,452 +1.5% Fuel Rate on Electricity, g/kWh 336.1 340.3 +1.2% Fuel Rate on Heat, kg/Gcal 152.5 156.1 +2.4% Installed Capacity Load Factor, % 40.8 38,1 -2.7 p.p. 2016 2017 Change Revenue 134,398 141,308 +5.1% Operating Expenses, incl. (124,529) (125,261) +0.6% Variable Costs2 (80,793) (79,475) -1.6% Fixed Costs2 (34,202) (34,521) +0.9% Depreciation and Amortization (9,534) (11,265) +18.2% Other Operating Income (Expense) (480) (495) +3.1% Operating Profit 9,389 15,551 x1.7 EBITDA3 18,923 26,816 +41.7% Profit for the Period 3,053 7,201 x2.4 Total Comprehensive Income for the Period 3,051 7,055 x2.3 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 2017 Average electricity price at the free market, RUR/MWh 1,186.1 Average heat tariff, RUR/Gcal 789.2 Average price for new capacity, RUR/MW per month 757,981.6 Average price for old capacity, 124,139.8 Electricity and Capacity Revenue Structure for 2017FY1 Structure of Electricity Sales Volume at the Wholesale Market for 2017FY1 1 Management report data

Variable Costs Variable Costs Change Factors Variable Costs Structure, mn RUR 2016 2017 Change Fuel Expenses 68,890 66,298 -3.8% Purchased Heat and Electricity 11,645 12,966 +11.3% Ecology Payments 258 211 -18.2% Total Variable Costs 80,793 79,475 -1.6% Growth of fuel expenses (gas) was due to output decrease. Purchased electricity and capacity expenses growth accounted for increased purchase volumes and prices 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 -3.8% 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. Increased maintenance and repair expenses were due to additional repair works at Ryazanskaya, Surgutskaya and Krasnoyarskaya stations, as well as additional service works at Adlerskaya and Serovskaya stations. Lower other fixed costs resulted mostly from decrease of raw and other materials expenses at Adlerskaya station, on the back of lower service expenses for gas turbines. 2016 2017 Change Employee Benefit 8,461 8,135 -3.9% Maintenance and Repair Expenses 3,861 4,058 +5.1% Fee of the System Operator 2,020 2,049 +1.4% Taxes Other than Income Tax 2,866 3,665 +27.9% Rent 2,368 2,613 +10.3% Other Fixed Costs 14,626 14,001 -4.3% Total Fixed Costs 34,202 34,521 +0.9% Total Fixed Costs, mn RUR Depreciation and Amortization, mn RUR +0.9% +18.2%

EBITDA and Profit EBITDA, mn RUR Profit Bridge for 2017FY, mn RUR +41.7%

Debt Debt Structure, mn RUR Debt Maturity Profile, as of December 31, 2017, mn RUR Net Debt, mn RUR1 Net Debt/ EBITDA 3.30 2.02 -11.5% 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