OGK-2 Group 6 months 2018 IFRS Results August 29, 2018

Disclaimer The information contained herein has been prepared using information available to JSC “OGK-2” (hereinafter - OGK-2 or the Company) at the time of preparation of the presentation. Since making a presentation, on the activities of OGK-2 and the content of the presentation could affect the external or other factors. In addition all relevant information about OGK-2 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. OGK-2 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 OGK-2, 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.

Operational and Financial Highlights Operational Highlights1 Financial Highlights, mn RUR 6M 2017 6M 2018 Change Revenue 70,094 71,129 +1.5% Operating Expenses, incl. (58,870) (59,955) +1.8% Variable Costs2 (39,258) (37,426) -4.7% Fixed Costs2 (14,078) (16,224) +15.2% Depreciation and Amortization (5,534) (6,305) +13.9% Reversal of Impairment Loss (Loss) of Financial Assets 295 (898) - Operating Profit 11,519 10,277 -10.8% EBITDA3 17,053 16,582 -2.8% Profit for the Period 6,826 6,564 -3.8% Total Comprehensive Income for the Period 6,738 6,554 -2.7% 6M 2017 6M 2018 Change Electricity Output, mn kWh 32,633 30,644 -6.1% Effective Electricity Output Without Regard to Financial Operations, mn kWh 30,513 28,627 -6.2% Useful Heat Output, thousand Gcal 3,501 3,820 +9.1% Fuel Rate on Electricity, g/kWh 336.4 329.0 -2.2% Fuel Rate on Heat, kg/Gcal 155.5 152.9 -1.7% Installed Capacity Load Factor, % 39.6 37.9 -4.3% 1 Management report data 2 Variable and fixed costs classification is based upon management report methodology 3 EBITDA = Operating profit + Depreciation and Amortization

Revenue Revenue Structure, mn RUR Prices and Tariffs1 Average electricity price at the free market, RUR/MWh 1,145.36 Average heat tariff, RUR/Gcal 757.18 Average price for new capacity, RUR/MW per month 820,068,25 Average price for old capacity, 125,578.44 Electricity and Capacity Revenue Structure for 6M 20181 Structure of Electricity Sales Volume at the Wholesale Market for 6M 20181 1 Management report data

Variable Costs Variable Costs Change Factors Variable Costs Structure, mn RUR 6M 2017 6M 2018 Change Fuel Expenses 33,189 31,267 -5.8% Purchased Heat and Electricity 5,962 6,049 +1.5% Ecology Payments 107 110 +2.8% Total Variable Costs 39,258 37,426 -4,7% Decrease of fuel expenses was due to lower fuel consumption on the back of decreased electricity output. Fuel Expenses, mn RUR Fuel Consumption, thous. t1 -5.8% 1 Management report data

Fixed Costs and Depreciation Fixed Costs and Depreciation Change Factors Fixed Costs Structure, mn RUR Depreciation and amortization growth was due to CSA-capacity commissioning at Troitskaya station and service contract capitalization at Cherepovetskaya station. Taxes other than income tax growth resulted from increased property tax expense, on the back of changes in tax legislation, concerning allowance for movable property, as well as commissioning of the 1-st start-up facility of a power unit at Troitskaya station. 6M 2017 6M 2018 Change Employee Benefit 3,593 4,183 +16.4% Maintenance and Repair Expenses 1,535 1,637 +6.6% Fee of the System Operator 1,024 1,004 -2.0% Taxes Other than Income Tax 1,795 2,024 +12.8% Rent 1,381 1,592 +15.3% Other Fixed Costs 4,750 5,784 +21.8% Total Fixed Costs 14,078 16,224 +15.2% Total Fixed Costs, mn RUR Depreciation and Amortization, mn RUR +15.2% +13.9%

EBITDA and Profit EBITDA, mn RUR Profit Bridge for 6M 2018, mn RUR -2.8%

Debt Debt Structure, mn RUR Debt Maturity Profile, as of June 30, 2018, mn RUR Net Debt, mn RUR1 Net Debt/ EBITDA 2.02 1.67 -18.1% 1 Net debt = Total amount of borrowings less cash and cash equivalents

Thank You For Your Attention! IR contacts: Natalya Grizel Tel.: + 7 (812) 646-13-64, ext. 2416 Email: Grizel.Natalya@ogk2.ru