Address of the Chairman of the Board of Directors

One of the most significant achievements in 2019 was the selection of three gas-fired generating units of Surgutskaya GRES-2 to take part in the modernisation programme. Unipro will accomplish these works until 2025. The planned investments will total about RUB 10 bln. These investments will secure us attractive capacity payments for a period of 16 years. We are also considering our participation in further auctions, including deep modernisation projects.

Another core project for Unipro is the completion of repair works at Power Unit No. 3 of Berezovskaya GRES. Due to high technical complexity of the repair works at the final stage and strict focus on the quality of work performed, we have to delay the Berezovskaya GRES third unit launch.

In 2019, Unipro PJSC demonstrated stable results in operating activities. The total output of the Company’s plants remained the same as in 2018 and amounted to 46.4 bln KWh. Though Unipro faced a challenging macro environment, the Company has managed to achieve stable financial results. According to the accounting statements prepared in compliance with the Russian Accounting Standards, the EBITDA amounted to RUB 29 bln for 2019.

Unipro is focusing on adherence to high standards of corporate governance to achieve steady development of business. The Company takes various measures to legitimate the interests of shareholders and other interested parties. Following our transparent and predictable dividend policy approved in 2019, Unipro will make reliable dividend payments.

In 2019, Unipro PJSC demonstrated stable results in operating activities. The total output of the Company’s plants remained the same as in 2018 and amounted to 46.4 bln kWh.

Health and safety of Company and contractors’ employees are the key values of our corporate culture. In 2019, Unipro demonstrated an exceptional safety performance through felt leadership and employees’ engagement at all levels, and achieved the strategic targets – zero work-related fatalities among own and contractors’ employees and, significantly, a 38% decrease in the Total Recordable Injuries Frequency level compared to the previous year. For sure, in 2020 we will continue to develop and deliver our safety improvement programmes in a systemic way.

Employee development and training are one of the priorities at Unipro, and we will keep on implementing such programmes as the creation of talent pool, development of young specialists, and lifelong learning.

Yours sincerely,
Andreas Schierenbeck,
Chairman of the Board of Directors
Unipro PJSC