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Evaluation of corporate governance practice

On March 12, 2014, Expert RA Rating Agency (http://raexpert.org/) assigned to JSC IDGC of Center and Volga Region the rating of corporate governance of "8" ("Best Practice of Corporate Governance").

The rating of IDGC of Center and Volga Region was positively affected by high level of observance of the shareholder rights, the same of organization of the activities of the executive bodies, and also of organization of interaction between the management bodies and risk-management bodies. The Agency positively evaluated medium high level of organization of the Board of Directors and organized system of cooperation among management bodies. IDGC of Center and Volga Region is characterized by a high information level of the corporate section of the web site. The Charter and the internal documents, the minutes of meetings of the Board of Directors and the shareholders’ meetings are in free access, and there is a detailed English version of the web site. “Transparency has a positive impact on the Company’s rating”, Mr. Pavel Mitrofanov, Director for Corporate Ratings of Expert RA, says. In addition, the rating was positively affected by high level of disclosure of financial and non-financial information, the same of general discipline of disclosure, as well as high level of corporate social responsibility.

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