Corporate governance

The Company’s corporate governance is based on the legislative regulations of the Russian Federation, the Company’s Charter, the Corporate Governance Code, recommended for use by the joint-stock companies whose stock is allowed for organized sales, as well as on internationally recognized corporate governance principles, such as the Corporate Governance Principles of the Organization for Economic Cooperation and Development. The Company is managed in strict compliance with the principles of rigorous protection of shareholders and investors’ rights, transparency and information openness.

The underlying principles of the Company’s corporate governance are stated in Mosenergo’s Corporate Governance Code approved by the Board of Directors on November 27, 2006.