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In 2012, the Company continued operating in accordance with the corporate development strategy and goals set by shareholders. Goals included: providing for stable power supply and the systemic reliability of the entire Russian grid and ensuring balanced advanced development of the power grid infrastructure and the qualitative modernization and innovative development of the national power industry. Summing up the results of the reporting year, we are fully confident that the management teams successful implementation of planned actions enabled the Company to achieve positive operational and financial results.

The Companys management team paid significant attention to further enhancing the long-term financial and economic policy, which results in greater financial stability. Standard & Poors confirmation of the Companys BBB (forecast: Stable) long-term credit rating proves that we have chosen the right strategy.

During 2012, we were very successful in the corporate governance sphere; the Company received a 7+ rating in the national corporate governance ranking, which corresponds to a Developed Corporate Governance Practice indicator.

We are consistent in upgrading the transparency of corporate operations. We tightened the requirements set for purchase procurement participants (related to information disclosure about beneficiaries), while maintaining a high degree of competition due to an increased number of open tenders carried out using e-commerce facilities. This resulted in a 3% increase in procurement efficiency, compared with 2011.

Having studied the worlds best anti-corruption practices, we launched implementation of the Companys compliance system in 2012. We have developed a legal framework that includes the Companys Code of Conduct, the Anti-Corruption Policy, the Compliance Policy and the Program for fighting corruption and resolving conflicts of interest for the 2012 to 2014 period, as well as some additional documents. Systemic to protect against corruption confirms the Companys across-the-board commitment to high ethical standards for conducting open and fair business and maintaining good standing.

We pay significant attention to environmental protection. The design documents for new facilities contain special sections on environmental protection, which are developed in compliance with all Russian legal requirements on environmental protection. All projects related to the construction and re-construction of power grid facilities go through a State environmental assessment, with public hearings on future environmental impacts.

Our employees are the Companys most valuable asset and we are concerned about retaining and developing the Companys HR potential.

Our employees are the Companys most valuable asset and we are concerned about retaining and developing the Companys HR potential. Training specialists on advanced technologies and efficient production practices is one of the Companys priorities. The Companys management pays significant attention to occupational health and labor safety, dedicating funds to finance different employee health programs, employee holidays at recreation facilities and appropriate medical care.

The Board of Directors sets complex tasks for the Company; and to implement these tasks in the midst of dynamic changes occurring in the electric energy sector will require full mobilization of the Companys strategic, managerial and financial potential. Federal Grid Company is stable and strong enough to develop and foster its positions; and the Companys Board of Directors shares the values and development views of the Companys management team.

Im confident that Federal Grid Companys highly qualified management and staff will succeed in resolving 2013 tasks, providing for the Companys sustainable development under new conditions.

Total area spanned 75 Russian regions
square km
The length of our transmission lines is 131.6 thousand km.
This is equivalent to a spaceship orbiting the Earth four times.
A reliable energy sector
for Russias
economic growth
3 643 km
transmission lines
put into operation
in 2012
25 103
Total number
of corporate
employees as of
31 December 2012
of commissioning
plans for