1. TGC-1
9М 2018 IFRS Results
9 November, 2018

2. Disclaimer TGC-1 9М 2018 IFRS Results
The information contained herein has been prepared using information available to Public Joint Stock Company “Territorial generating company №1” (hereinafter - TGC-1 or the Company) at the time of preparation of the presentation. Since making a presentation on the activities of TGC-1 and the content of the presentation could affect the external or other factors. In addition all relevant information about TGC-1 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. TGC-1 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 TGC-1, 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.
TGC-1 9М 2018 IFRS Results

3. Operational and Financial Highlights for 9M 2018
Operational Highlights
Financial Highlights, RUB mln
9M 2017
9M 2018
Change
Installed Capacity, MW
6,950
0.0%
Electricity Production, mn kWh, Including:
20,884
21,555
+3.2%
CHPP
10,731
11,380
+6.0%
HPP
10,153
10,176
+0.2%
Electricity Sales Including Purchased Energy, mln kWh
23,138
23,989
+3.7%
Capacity Sales, MW (monthly average)
5,313
5,461
+2.8%
Heat Output, thous Gcal
16,576
16,435
-0.9%
Useful Heat Output Including Purchased Energy, thous Gcal
16,914
16,824
-0.5%
Fuel Rate on Electricity*, g/kWh
216.2
219.6
+1.6%
Fuel Rate on Heat*, kg/Gcal
170.0
168.6
-0.8%
Capacity Load Factor, %*
45.9
47.4
+1.5 p.p.
40.1
42.5
+2.4 p.p.
54.2
54.4
+0.2 p.p.
9M 2017
9M 2018
Change
Revenue
60,176
63,494
+5.5%
Operating Expenses, Incl.:
(51,111)
(54,088)
+5.8%
Variable Costs
(30,828)
(33,106)
+7.4%
Fixed Costs
(14,126)
(15,128)
+7.1%
Depreciation and Amortization
(6,157)
(5,854)
-4.9%
Total Operating Expenses**
(50,293)
(53,146)
+5.7%
Operating Profit
9,884
10,348
+4.7%
Profit Before Income Tax
8,799
9,902
+12.5%
EBITDA***
16,040
16,202
+1.0%
Profit for the Period
6,766
8,548
+26.3%
Total Comprehensive Income for the Period
* Without PJSC Murmanskaya CHPP.
** With account to Other operating income, Reversal of impairment loss for financial assets and Government subsidy.
*** EBITDA = Operating profit + Depreciation of property, plant and equipment and Amortization of intangible assets and investment property
TGC-1 9М 2018 IFRS Results

4. Dynamics of Sale Prices for Electricity at the Day-ahead Market
TGC-1’s Regional Sale Prices for Electricity at the Day-ahead Market, RUB/MWh 13
CHPP 40
HPP
Murmansk Oblast
Karelia
Murmansk
Apatity
Petrozavodsk
Saint-Petersburg
Leningrad Oblast
9M 2017
9M 2018
Kolsky Branch
Karelsky Branch
Nevsky Branch
TGC-1
TGC-1 9М 2018 IFRS Results

5. TGC-1’s Sale Price for Electricity at the Day-ahead Market, RUB/MWh
Dynamics of Prices for Electricity at the Day-ahead Market: CHPPs and HPPs
TGC-1’s Sale Price for Electricity at the Day-ahead Market, RUB/MWh
TGC-1 9М 2018 IFRS Results

6. Revenue Change Factors Prices and Tariffs*, RUB mln
Revenue, RUB mln
Revenue Structure*
9M 2017
9M 2018
Revenue Change Factors
Prices and Tariffs*, RUB mln
Growing sales volume at the day-ahead market in 1Q 2018 (+23.0%) and growing day-ahead electricity prices in 2Q 2018 (+4.6%);
Increased CSA capacity sales volume (+6.7%) in 9M 2018;
Revenue for exported electricity growth, resulting from elevated prices at Nord Pool market (+215.3%);
Increased heat output in 1Q 2018, on the back of lower air temperature.
9M 2017
9M 2018
Change
Average Electricity Price, thousand RUB/MWh
949.4
998.1
+5.1%
Average New Capacity Price, RUB/MWh per Month
867,585.8
866,997.8
-0.1%
Average Old Capacity Price RUB/MWh per Month
116,767.7
116,396.9
-0.3%
* Management report data.
TGC-1 9М 2018 IFRS Results

7. Fixed and Variable Costs
Variable Costs, RUB mln
Variable Costs Change Main Factors
9M 2017
9M 2018
Change
Fuel
21,579
23,183
+7.4%
Electricity, Capacity and Heat Purchases
5,037
5,453
+8.3%
Water Usage Expenses
2,050
2,191
+6.9%
Other Materials
649
652
+0.5%
Heat Transmission
1,513
1,627
+7.5%
Total Variable Costs
30,828
33,106
Growing fuel expenses on the back of increased by 6.0% electricity output at CHPPs;
Increased expenses for electricity purchase, caused by growing electricity output;
Growth in water usage expenses, resulting from water consumption by heating grid;
Heat and electricity transmission cost growth on the account of new consumers connection in Leningrad Oblast.
Fixed Costs, RUB mln
Fixed Costs Change Main Factors
9M 2017
9M 2018
Change
Employee Benefits
5,601
6,061
+8.2%
Repairs and Maintenance
2,338
2,558
+9.4%
Taxes Other than Income Tax
1,328
1,526
+14.9%
Fees of Electricity Market Operators
615
635
+3.3%
Rent Expenses
1,811
2,077
+14.7%
Insurance Cost
215
219
+1.9%
IT-service Cost
234
391
+67.1%
Other
1,984
1,661
-16.3%
Total Fixed Costs
14,126
15,128
+7.1%
Growing rent expenses;
Increased employee benefits on the account of salary indexation in 1H 2018;
Growing IT-service cost, due to renovation of the Company information-management systems and enhancement of informational security;
Increase of taxes other than income tax due to less property tax allowance used in St. Petersburg and growing property tax for grid assets.
TGC-1 9М 2018 IFRS Results

8. Debt and Liabilities TGC-1 9М 2018 IFRS Results
Debt Structure, RUB mln
Net Debt*/ EBITDA
Maturity Profile, as of 30 September, 2018, RUB mln
Debt Portfolio Management
Two bond issues series of TGC-1 are traded on Moscow Exchange.
Weighted average interest for TGC-1 debt portfolio for 9M 2018 amounted to 7.27%, p.p. lower year-on-year.
* Net debt = Total amount of borrowings less cash and cash equivalents
TGC-1 9М 2018 IFRS Results

9. EBITDA and Profit Bridge
EBITDA, RUB mln
Profit Bridge for 9M 2018, RUB mln
Profit Dynamics, RUB mln
TGC-1 9М 2018 IFRS Results

10. Assigned Credit Ratings
Credit Ratings by S&P Global Ratings
Date
Rating Type
Rating Value
International scale long-term rating
«BBB-», forecast «stable»
International scale short-term rating
«A-3», forecast «stable»
Credit Ratings by Fitch Ratings
Date
Rating Type
Rating Value
Foreign currency nominated long-term IDR
«BBB-», forecast «stable»
Domestic currency nominated long-term IDR
Foreign currency nominated short-term IDR
«F3»
Domestic currency nominated short-term IDR
Domestic currency nominated priority unsecured rating
«BBB-»
Credit rating ACRA
Date
Rating Type
Rating Value
National scale credit rating
«AA(RU)», forecast «stable»
TGC-1 9М 2018 IFRS Results

11. Thank you for Your Attention!
Contacts for mass-media
Contacts for investors and analysts
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TGC-1 9М 2018 IFRS Results