This Annual Financial Report has been prepared for shareholders of Joint Stock Company "Federal Grid Company of Unified Energy System" (the Company) as a body and for no other persons. The Company, its directors, employees, agents or advisers do not accept responsibility for any other person to whom this document is shown or into whose hands it may reach and any such responsibility or liability is expressly disclaimed against.

By their very nature, statements concerning risks and uncertainties that the Company faces in this Annual Financial Report involve uncertainty since future events and circumstances can cause results and developments to differ materially from those that are anticipated. The forward-looking statements contained in this Annual Financial Report reflect knowledge and information that were available at the date of preparing this Annual Financial Report and the Company undertakes no obligation to update these forward-looking statements. Further, nothing in this Annual Report should be construed as a profit forecast".