The Management Board is a collegial executive body of JSC IDGC of the North-West. In accordance with the Articles of Association the Management Board's competence covers the following matters:

• development of proposals for the Company's development strategy;
• implementation of the financial and business policy of the Company and its subsidiaries and dependent entities: elaboration of decisions on the most important issues of the current business activities and coordination of subdivisions' activities;
• increase of efficiency of internal control and risk monitoring systems;
• making decisions on other matters referred to the Management Board for review by Director General of the Company.

Activities of the Company's Management Board are regulated by the Federal Law on Joint-Stock Companies, Articles of Association of the Company, and Provision on the Management Board.

In accordance with the Articles of Association, members of the Management Board are elected by the Board of Directors of the Company and the number of members is to be determined by resolution of the Board of Directors based on the Director General's proposal.

The initial structure of the Management Board was approved by the Board of Directors as of April 10, 2008. By the decision of the Company's Board of Directors of August 25, 2009, changes were made to the quantity of members of the Management Board: the composition of the Management Board was increased from 7 to 10 members.

In 2012 the following changes took place in the composition of the Company's Management Board.

By the decision of the Company's Board of Directors of July 25, 2012 the powers of the following members of the Management Board were terminated: V.M. Shestov, Deputy Director General for Security of the Company, G.V. Turlov, Deputy Director General for Technical Issues, Chief Engineer of the Company.

By the decision of the Company's Board of Directors of October 26, 2012 the powers of the following member of the Management Board were terminated: A.I. Chekhoev, Deputy Director General, Head of the Company's Apparatus. D.L. Matrosov, Deputy Director General for Security of the Company was elected a member of the Company's Management Board.

By the decision of the Company's Board of Directors of December 14, 2012 the following persons were elected members of the Company's Management Board: D.K. Krautman, Deputy Director General, Head of the Company's Apparatus, D.P. Tiron, Deputy Director General for Capital Construction of the Company.

By the decision of the Company's Board of Directors of February 8, 2013 Gorokhov A.Yu., Deputy Director General for Technical Issues, Chief Engineer of JSC IDGC of the North-West, was elected a member of the Company's Management Board.

In accordance with the Articles of Association of JSC IDGC of the North-West the functions of the Chairman of the Management Board of the Company are performed by Director General of the Company.

Information on the Company's Director General, Sergey Gennadievich Titov, is presented below in section "Director General".

The current composition of the Management Board

Dmitry Andreevich Bukata

Member of the Management Board (date of election to the Management Board: December 28, 2011).

Born in 1962.

In 1984 he graduated from V.I. Lenin Belarusian State University in Minsk, majoring in Radiophysics and Electronics.

In 1997 graduated from the Open University Business School (London) and obtained a professional certificate in the field of management. Passed advanced training in the Belarusian Association of Freight Forwarders on organization and management of transportation and freight forwarding activity, Saint Petersburg State Architectural and Construction Activity in 2011 under Construction, Reconstruction, Capital Repair of Capital Construction Objects Program.

From 1997 to 2007 he worked in companies involved in transportation and freight forwarding activity and provided logistics services.

In 2007 he was employed by JSC Leningrad Regional Utilities, where he developed and protected investment programs.

In 2008-2010 he worked at LLC Skandinaviya as Deputy Director General for Investments and Development.

In September 2011 was appointed Deputy Director General for Logistics and Procurement of JSC IDGC of the North-West.

Competence of Dmitry Andreevich Bukata covers the ensuring of fulfillment of tasks related to regulated purchases of goods, works and services for the Company's needs, including arrangement thereof; increase of the Company's activity efficiency through a significant increase of the level of suppliers' competitiveness when purchasing goods, works and services; development of the procurement policy under the competitive environment conditions.

Currently he is not a member of management bodies of any organizations.

He did not hold any shares in JSC IDGC of the North-West in 2012 nor did he perform any transactions with securities of the Company during 2012.

Andrey Yurievich Gorokhov

Member of the Management Board (date of election to the Management Board: February 8, 2013)

Born in 1959.

In 1981 he graduated from the Ivanovo Energy Institute, majoring in Automation of Production and Distribution of Electric Energy, State University of Management (2003), majoring in Management of Energy Companies in the Market Economy.

He started working in Kolenergo immediately after his graduation in 1981. Until 1987 he occupied various positions in HPP-8 (Hydro Power Plant 8) of the Paz HPP cascade, from 1987 to 2002 he worked as an engineer in the Relay Protection and Automatics Service in Kolenergo. From 2002 — Chief Engineer of Energosbyt, branch of JSC Kolenergo. In October 2005 he became the head of commercial supervision and electricity metering operations and the head of electricity transport operations in 2006.

Since February 2008 he has been working as Deputy Director of Kolenergo branch of JSC IDGC of the North-West for Development and Services Selling. In May 2012 he was appointed a temporary Director of Kolenergo branch and in June 2012 — the Director of Kolenergo branch of JSC IDGC of the North-West. Since January 1, 2012 he has held the position of temporary Deputy Director General for Technical Issues and Chief Engineer of JSC IDGC of the North-West.

Competence of Andrey Yurievich Gorokhov covers determination of technical policy and its implementation in operation, new construction, technical re-equipment and reconstruction of the electric grid complex of the North-Western region in order to ensure its safe, reliable and effective operation.

Currently he is not a member of management bodies of any organizations.

He has a share in the authorized capital of JSC IDGC of the North-West: 0.0013 %. He did not perform any transactions with securities of the Company during 2012.

Dmitry Konstantinovich Krautman

Member of the Management Board (date of election to the Management Board: February 14, 2012).

Born in 1975.

In 1997 he graduated from the Saint-Petersburg Humanitarian University of Trade Unions majoring in Law.

In 1995 he started its employment as a lawyer; in 1997 he became the head of Legal Bureau of LLC Inturist (Saint-Petersburg). In 1999-2000 he worked as Deputy Director General of CJSC ICN North-Western Distribution Center, in 2000-2002 — Deputy Director General for Legal Matters of CJSC Farmsnab, in 2002-2004 — Director of Administrative and Legal Department of LLC SBR Corporation.

From 2004 to 2012 he worked in JSC Pulkovo Airport (Deputy Director General for Personnel and Quality, Deputy Director General of Airport and Production Complex for Quality and HR management , Head of the Department of Development and Projects and Managing Affairs in authorized funds of other organization of the Airport and Production Complex).

Since September 2012 he has been working as a Deputy Director General, Head of Apparatus of JSC IDGC of the North-West.

Competence of Dmitry Konstantinovich Krautman covers implementation of the Company's HR policy, organization of works for managing social processes in the Company, assurance of documentary support of the Company's activities.

Currently he is not a member of management bodies of any organizations.

He did not hold any shares in JSC IDGC of the North-West in 2012 nor did he perform any transactions with securities of the Company during 2012.

Anatoly Valerievich Kushnerov

Member of the Management Board (date of election to the Management Board: April 10, 2008).

Born in 1971.

In 1998 he graduated from East Kazakhstan State University, majoring in Legal Science.

In 2004 graduated from the Academy of National Economy under the Government of the Russian Federation, majoring in Company Development Management. In 2004-2005 took training at the State Educational Institution of higher professional education State Management University under МВА — Management of the Company, Master of Business Administration Program.

Since 2005 has worked at JSC IDGC of the North-West: until 2007 — in the position of Director for Corporate Governance, from 2007 — Deputy Director General for Corporate Governance.

Competence of Anatoly Valerievich Kushnerov covers organization of the system of legal support and corporate management of the Company, as well as organization of relations with shareholders and investors and their informational support, consolidation of electric grid assets.

Currently he is a member of the management body of the following organization: member of the Board of Directors of JSC Energoservice of the North-West.

He did not hold any shares in JSC IDGC of the North-West in 2012 nor did he perform any transactions with securities of the Company during 2012.

Olga Vadimovna Makarova

Member of the Management Board (date of election to the Management Board: April 10, 2008).

Born in 1971.

In 1996 she graduated from Saint Petersburg University of Economy and Finance, majoring in National Economy. In 2009 graduated from the Academy of National Economy under the Government of the Russian Federation, where she took an MBA course and obtained an additional qualification of Master of Business Administration, majoring in National Economy.

Since 2005 she has worked at JSC IDGC of the North-West: until 2007 occupied the post of Director for Economy and Finance, since 2007 until now — Deputy Director General for Economy and Finance.

Competence of Olga Vadimovna Makarova covers organization of tariff setting processes, implementation of the tariff policy and forecast of tariff levels in regions, organization of business planning, budgeting, economic and financial planning in the Company.

Currently she is not a member of management bodies of any organizations.

She did not hold any shares in JSC IDGC of the North-West in 2012 nor did she perform any transactions with securities of the Company during 2012.

Dmitry Lvovich Matrosov

Member of the Management Board (date of election to the Management Board: October 26, 2012).

Born in 1963.

In 1986 he graduated from the Leningrad Mechanical Institute, majoring in Mechanic Equipment of Automatic Units.

From 1988 to 1999 he did military service in the State Security Committee (KGB) (Federal Security Service (FSB)) of Russia. From 2001 he worked in the Economic Expertise Department of LLC CB Invest-EcoBank, in 2004 he started working in Federal State Unitary Enterprise Typography No. 12 named after M.I. Lokhankin, where he was the head of the Information Protection Department and then was appointed Deputy Director for Prospective Development.

In 2009-2012 he worked in various positions (counselor of the Chairman of the Management Board, Director of the Security Department, Head of the Business Support Unit) in Petrovsky branch of JSC Otkritie Bank (Saint-Petersburg), the last position held — Deputy Head of the branch. Since August 31, 2012 he has been working as the Deputy Director General for Security of JSC IDGC of the North-West.

Competence of Dmitry Lvovich Matrosov covers assurance of economic and information safety in the Company.

Currently he is not a member of management bodies of any organizations.

He did not hold any shares in JSC IDGC of the North-West in 2012 nor did he perform any transactions with securities of the Company during 2012.

Alexander Vladimirovich Mikhalkov

Member of the Management Board (date of election to the Management Board: April 10, 2008).

Born in 1962.

In 1985 he graduated from Leningrad Polytechnic Institute, majoring in Supply of Electric Energy to Industrial Facilities, Cities and Rural Areas. In 2001 graduated from the Academy of National Economy under the Government of the Russian Federation, majoring in Management in Electric Energy Sector.

Since 2005 he has worked at JSC IDGC of the North-West: 2005-2007 — Director for Strategic Management, since 2007 has been Deputy Director General for Development and Services Selling.

Competence of Alexander Vladimirovich Mikhalkov covers organization of work on provision of electric energy supply services and fulfillment of technological connection; elaboration of the strategy of the Company's electric grids services; organization of works with authorities of the subjects of the North-West Federal District of the Russian Federation on issues related to territory development and satisfaction of the demand for electric grid services, energy saving and energy efficiency enhancement of the Company; compliance with the customer-oriented policy of the Company.

Currently he is a member of the management body of the following organization: Chairman of the Board of Directors of JSC Energoservice of the North-West.

He did not hold any shares in JSC IDGC of the North-West in 2012 nor did he perform any transactions with securities of the Company during 2012.

Dmitry Petrovich Tiron

Member of the Management Board (date of election to the Management Board: December 14, 2012)

Born in 1968.

In 1990 he graduated from the A.F. Mozhaisky Order of Red Banner Military Engineering Institute, qualified as an electrical engineer.

From 1993 to 2002 he worked in managerial positions of various commercial companies. From 2002 to 2003 he was employed in State Unitary Enterprise Energoservice, from 2003 to 2006 headed LLC Unified Engineering and Energy Center Energoservice (Saint-Petersburg). In 2006-2007 he headed Saint-Petersburg State Institution Stroykomplekt (Deputy Director General, Director General), CJSC RosStroyGroup (Deputy Director General). In 2007-2008 he worked in the Committee for Construction of the Government of Saint-Petersburg, in 2008-2009 — Deputy Director General of Project Designing Bureau StroyProfComplex, Deputy Director General of LLC EnergoPromInvest. In 2009-2010 — First Deputy Director General, Director General of the Administration of JSC Restoration and Construction Company Baltstroy. In 2010-2012 — the Head of the Department of Preparation and Control over Compliance with Technical Conditions of the Committee for Construction of the Government of Saint-Petersburg. Before his employment with JSC IDGC of the North-West he held the office of Technical Director of CJSC BaltStroy (Saint-Petersburg).

Competence of Dmitry Petrovich Tiron covers implementation of the Company's investment policy in order to increase liability of operation of electric grids and management of construction, reconstruction and technical re-equipment of electric grid facilities in accordance with the unified investment policy.

Currently he is not a member of management bodies of any organizations.

He did not hold any shares in JSC IDGC of the North-West in 2012 nor did he perform any transactions with securities of the Company during 2012.

Dmitry Olegovich Guba

Deputy General Director for Economics and Finance (Appointed 23/05/2013)

He graduated from St. Petersburg State University of Economics and Finance, "Finance and Credit".

He worked as a financial analyst, “Andersen Consult” Ltd. and economist of the economic production of the financial and economic life of the Company “TEKSS” Ltd. In the period from 2006 to 2012, he served as CFO of the company “BSS” Ltd., “Yonakor Marin” Ltd.

Since September 2012 he served as Acting Deputy General Director for Economy and Finance of JSC “IDGC North-West”, 23 May 2013 appointed Deputy General Director for Economy and Finance of JSC “IDGC North-West”. It is the responsibility Guba Dmitry O. included: organizing the process of tariff, the implementation of the tariff policy and forecasting of the tariff in the regions, the organization of the process of business planning, budgeting, economic and financial planning in the Company.

At present, the bodies of other organizations is not a member. Shares of JSC “IDGC North-West” in 2012 not owned. Transactions in securities of the Company during 2012 did not commit.

While managing the Company's current activities in accordance with the competence determined in the Articles of Association and the Provision on the Management Board of JSC IDGC of the North-West, the Company's Management Board held 48 meetings (18 of them in presence) and reviewed 222 matters. The number of meetings held and the number of matters reviewed in 2012 increased substantially compared to 2011. In 2011 46 meetings of the Management Board were held (23 of them in presence) and 165 matters were reviewed.

In order to ensure that the Board of Directors performs its activities effectively and makes well-balanced and substantiated decisions the Management Board of the Company preliminary reviewed and prepared to the Board of Directors recommendations on the following key matters referred to the competence of the Board of Directors:

• the Company's priority activity areas and strategy;
• approval of target values (adjusted values) of key performance indicators (KPEs) of the Company and reports on achievement thereof;
• review of the business plan (including the investment program) of the Company and reports on implementation thereof;
• recommendations on the amount of dividends on shares and procedure for payment of dividends;
• approval of the Company's annual complex purchasing program;
• making decisions on the Company's participation in other companies;
• preliminary approval of transactions involving transfer of the Company's property without consideration;
• recommendations on determination of the position of the Company's representatives on matters on agenda of General Meetings of Shareholders and meetings of the Board of Directors of the Company's subsidiaries.

Information on Director General

The competence of Director General covers all matters relating to the current activities of the Company. According to the Company's Articles of Association, Director General has wide powers in such key spheres as property management, transactions making on behalf of the Company, issue of orders, approval of guidelines, and internal documents in all important areas of the Company's activity.

Sergey Gennadievich Titov was appointed Director General of JSC IDGC of the North-West on July 1, 2012.

Sergey Gennadievich Titov

Director General — Chairman of the Management Board (date of election to the Management Board: August 15, 2011).

Born in 1963.

Has a higher technical education. In 1987 he graduated from the Leningrad Mechanical Institute, majoring in Components of Field Installations. In 1993 graduated from postgraduate studentship at Baltiyskiy State Technical University.

Repeatedly took advanced trainings: PSM Consulting, majoring in Project Management, Advanced Training Institute under Rosenergo, majoring in Financial Management.

From 1991 he held managerial positions in various companies. From 2002 to 2007 worked as head of JSC Lenoblgaz branch, from 2007 to 2011 occupied the post of Deputy Director General for Economy and Finance at the Apparatus of JSC Lenoblgaz. Since March 2011 he has worked as Deputy Director General for Capital Construction at JSC IDGC of the North-West. In July 2012 he was appointed Director General of JSC IDGC of the North-West.

Awarded by the Honorary Certificate of the Legislative Assembly of the Leningrad Region.

Currently he is not a member of management bodies of any organizations.

He did not hold any shares in JSC IDGC of the North-West in 2012 nor did he perform any transactions with securities of the Company during 2012.