RUSSIA FORUM 2012 Troika Dialog - Sberbank

Lenenergo, JSC

2011 Preliminary Results &

Plans for 2012

Ulyanychev I.V. (CFO) Sudakova T.G. (Director on Economics )

This presentation is not an offer or invitation to make offers (advertisement) in respect of purchase or subscription to securities of Lenenergo. Neither the presentation, nor any part hereof, nor the fact of its representation or distribution serve as the basis for entering into any agreement or taking any investment decision; therefore, the presentation should not be relied upon in this respect. This presentation may contain estimates. The estimates are not based on actual circumstances and include statements in respect of the intentions, opinions or current expectations of Lenenergo as regards the results of its activity, financial position, liquidity, prospects of growth, strategy and the industry, in which Lenenergo operates. Such estimates by their nature are characterized by presence of risks and uncertainty factors since they are related to the events and depend on the circumstances, which may fail to happen in the future. Lenenergo warns that the estimates are not a guarantee of the future parameters, and the actual results of JSC "Lenenergo" activities, its financial position and liquidity, as well as development of the industry, in which it operates, may significantly differ from those included in the estimates contained herein. Besides, even if the results of the Company's activities, its financial position and liquidity, as well as the development of the industry, in which it operates, correspond to the estimates contained herein, such results and events are not indicative of the results and events in the future. This presentation contains the information received from third parties besides the official information on Lenenergo activities. This information has been received from the sources which are reliable in Lenenergo opinion. Nevertheless, we do not guarantee the accuracy of such information which may be reduced or incomplete. All opinions and estimates contained herein reflect our opinion as at the date of publication and are subject to change without notice. Lenenergo does not bear liability for the consequences of use of the opinions or estimates contained herein, or information incompleteness. Lenenergo does not undertake obligations in respect of revision or confirmation of the estimates and evaluations, as well as in respect of updating of the information contained herein.

Disclaimer

Personal number of Lenenergo as of 31.12.2011 was equal to 6,052 people

in St.-Petersburg – 75.2%

Lenenergo share in the electric power transmission market as of 31.12.2011:

90.85%

9.15%

Ordinary shares 928,021,679.004 pcs

Preferred shares 93,264,311 pcs

Authorized capital of Lenenergo is equal to RUR 1,019,285,990.004 Share capital structure of Lenenergo**

Information on Lenenergo shares

Quotation list

MICEX B

Tickers

Ordinary shares LSNG

Preferred shares LSNGP

Capitalization 31.12.2011, USD mln*

348

in the Leningrad Region – 60.3%

General information on the Company

**as of the closing date of the register: 17.11.2011

Service area, thousand sq.km 87.3

Population, mln. people 6.2

Lenenergo is one of the largest electricity distribution companies in Russia, the operator of 0.4-110 kV grids, servicing the territory of Saint-Petersburg and the Leningrad region

Main types of activity: • electric power transmission and distribution services; • technological connection of power receiving facilities (power plants) of business and individuals to the grids

The Lenenergo share in Saint-Petersburg and Leningrad region in the electric power

transmission market as of 31.12.2011 – 69.8%

Lenenergo comprises 10 operational units in Saint-Petersburg and the Leningrad region

* The calculation is made on the capitalization weighted average price on the MICEX SE at the rate of the Central Bank on that date

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Major competitors of Lenenergo: municipal electric network companies OAO SPbES in Saint-Petersburg and OAO LOESK in the Leningrad region

I.D.E.ELECTRICITY DISTRIBUTION INVESTMENTS 1 LIMITED (ZAO IES Holding)

ENERGYO SOLUTIONS RUSSIA LIMITED (EOS Russia)

RUSENERGO FUND LIMITED

JP MORGAN Funds

other

The city of St.-Petersburg (CPMC)

IDGC Holding

50.31%

25.16%

8.76%

4.15%

2.75% 1.83%

7.05%

High voltage grids (FGC) LENENERGO

Third-party grid organizations

(TGOs)

Electricity trading companies

End consumers Generation wholesale electricity

market

Major TGOs in the region: In SPb – OAO SPbES, In the LR – OAO LOESK

Branch of JSC FGC UES – MES of North-West

• Independent power sales companies • Guarantying suppliers: OAO PSK, OOO RSK-Energo,

OOO Rusenergosbyt, OOO Energy Holding • Direct consumers – participants of wholesale and

retail electricity markets

Payment of losses

TGK-1, OGK-6, S-Z GRES, LAES, etc.

Consolidated revenue system*

electric power charges

electricity transmission

charges

electric power

electric power electric power

0.4-110 kV grids 0.4-10 kV grids 220 kV grids

electric power

Business model of Lenenergo: cash flows and electric power flows

*Required gross proceeds (RGP) of TGOs and FGC are included in RGP of Lenenergo

Transmission services

Distribution grid company electricity transmission

charges

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electric power charges

electricity transmission charges

Creation of free transformer capacity to ensure optimal load of supply centers of power receiving equipment, ensuring optimum operation of the electrical network

Fulfillment of obligations towards subscribers under contracts for technological connection, formation of the grid infrastructure, corresponding to rates of social and economic development of the region

Replacement of fixed assets and reduction of wear of equipment due to the implementation of investment programs agreed with the administrations of the region

Development of optimal accounting system of electric power that verifies the amount of rendered services and reduction of commercial losses of electricity within the framework of energy efficiency and energy saving program

Implementation of the innovative development

Achievement of balanced results of price regulation to ensure profitability of regulated activities and creation of own resources to finance its investment program

Optimization of costs and execution of key performance indicators of the Company

Enhancement of quality and reliability of services

Improving of operational efficiency

Provision of optimal indicators of financial stability of the Company and increase capitalization of the Company

Improving of financial performance and sustainability

Expansion and control of power grid services market ►

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Strategic goals of Lenenergo

11,409 10,334 15,813 14,993 13,316

28,439 27,672 29,095 29,094 30,060

20,828 26,088 34,201 37,165 38,409

5,566 8,190 10,356 8,294 9,659

Unit 2008 2009 2010 2011*

Installed capacity MVA 19,365.5 19,901.4 20,740.5 21,127.0

Overhead Transmission Lines 0.38-110 kV on circuit km 39,084.6 39,285.9 39,418.8 39,616.9

Overhead Transmission Lines 0.38-110 kV on line km 35,966.5 36,148.2 36,273.6 36,428.4

Cable lines 0.38-110 kV km 16,730.9 17,650.7 18,622.3 18,627.1

Substations 35-110 kV pcs (MVA) 368 (12,818) 370 (13,084) 372 (13,466) 373 (13,546)

Transformer substations 6-35 kV pcs (MVA) 13 646 (6,548) 13 909 (6,818) 14 361 (7,275) 14 533 (7,581)

Characteristics of Lenenergo assets

EBITDA, RUR mln

Revenue, RUR mln

Net profit, RUR mln

Productive supply, mln kWh

2008 2009 2010 2011F 2012F

Dynamics of key indicators of Lenenergo

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+ 3.3%

+ 3.4%

+ 16.5%

+ 35.1%

-11.2%

CAPEX, RUR mln

1,540 3,258 3,806

1,000 1,350

* as of 30.09.2011

Business and financial highlights

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Суммарная капитализация

АО average АП average

Securities of Lenenergo in 2010-2011 against the background of investors’ mistrust caused by the uncertainty of tariff regulation

31.12.2010 31.12.2011 ∆,%

MICEX 1,687.99 1,402.23 -16.89

MICEX PWR 3,435.32 2,053.02 -40.24 Ordinary shares average

25.95 9.84 -62.08

Quotations of Lenenergo shares and capitalization in 2011 Capitalization of Lenenergo in 2011, RUR mln*

Comparison of MICEX and MICEX PWR indices and ordinary shares of Lenenergo in 2011

Year Dividends on ordinary

shares, RUR per 1 share

Dividends on preferred shares, RUR

per 1 share

Dividends accrued, RUR thousand

for 2008 no 1.6508 153,962

for 2009 no 3.4933 325,804

for 2010 no 4.0804 380,559

** In accordance with the Charter of Lenenergo dividends shall be accrued on preferred shares of Type A in the amount of 10% of the net profit following the results of the completed fiscal year

Capitalization*, RUR mln 2009 2010 2011 2011/2010

MICEX SE 25,571 27,372 11,139 -59.3%

on MICEX SE Price on 31.12.2011, RUR LSNG (MICEX) 9.84 LSNGP (MICEX) 21.74

Lenenergo dividends for 2008-2010, RUR mln**

Dynamics of DGCs’ capitalization in 2011 on MICEX SE, RUR bln*

* The calculation of capitalization is made on the average weighted rate at MICEX SE

RUR p/p

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RUR RUR mln 28,477 28,332 26,719 24,958

21,881 19,094 20,047

17,091

14,026 14,262 13,260 11,139

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MICEX MICEX PWR average АО ЛЭ

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC

Total capitalization

Ordinary shares average

Preferred shares average

Ordinary shares average

In 2011, the Company’s shares traded in the general downward trend with DGC companies and the industry index, reflecting the mistrust of investors in relation with the uncertainty of tariff regulation

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Preliminary results of 2011 and key indicators of Lenenergo activity in accordance with its business plan for 2012

Indicator Unit 31.12.2010 31.12.2011

estimated

31.12.2012

plan

Δ in %

2012/2011

Productive supply mln kWh 29,095 29,094 30,060 3.32%

Electricity losses % 10.71% 10.56% 10.29% -0.27 p.p.

Connected capacity kW 645,279 319,594 369,659 15.67%

Revenue, including: RUR mln 34,201 37,165 38,409 3.35%

- from services on electric power transmission

RUR mln 23,873 28,711 30,318 5.60%

- from services on technological connection

RUR mln 10,164 8,283 7,928 -4.29%

- from other activities RUR mln 164 170 163 -4.20%

Costs RUR mln 27,488 31,953 34,012 +6.44%

Profit on sales RUR mln 6,713 5,212 4,397 -15.63%

Profit before taxes RUR mln 5,282 2,055 2,271 10.52%

Net profit RUR mln 3,806 1,000 1,350 35.04%

For reference:

ROE % 7.80% 1.83% 2.53% -

EBITDA RUR mln 10,356 8,294 9,659 16.46%

EBITDA margin % 30.28% 22.32% 25.15% -

Net debt*/EBITDA - 1.39 2.44 2.82 -

Investment program

(disbursement) RUR mln 15,813 14,993 13,316 -11.18%

* The value of net debt is calculated as the sum of loans (including debt on %) less cash and short-term investments

9.97 10.33 10.71 10.56 10.29

2008 2009 2010 2011F 2012F

5,566 8,190

10,356 8,294 9,659

2008 2009 2010 2011F 2012F

20,828 26,088 34,201 37,165 38,409

2008 2009 2010 2011F 2012F

11,409 10,334 15,813 14,993 13,316

2008 2009 2010 2011F 2012F

Priority task – reduction in losses

Priority task – stable growth of revenue

Priority task – fulfillment of the investment program in the approved amount for the maintenance of reliability of power supply in the region

Priority task – profit from transmission services and the growth in EBITDA

17,680 20,815 27,488 31,953 34,012

2008 2009 2010 2011F 2012F

Priority task –reduction in the rate of costs’ increase due to the cost reduction program and reduction of federal factors

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Approved by PPO in average per year

Approved by PPO since 01.05.11

Estimated 2011

∆ in % 2011 estimated/ approved РРО in average per year

SPB 99.2 95.5 96.6 -2.6%

LR 110.2 110.2 105.7 -4.1%

Main reasons for decline in the expected tariff relative to approved:

- Switch of OAO PESC* to calculations under one-rate tariff in SPB - Reduction of the contractual capacity of OAO PESC in the Leningrad region relative to accounted for regulation

- Change in the consumption structure on voltage levels

2011

approved by РРО

2011 estimated

2012 business

plan

∆ in % from 2011

approved estimated

Saint-Petersburg Revenue, RUR mln 18,273 18,310 18,491 1.2% 1% Tariff, kop/kWh 98.9 96.6 95.6 -3.3% -1%

Leningrad region Revenue, RUR mln 11,734 11,428 12,569 7.1% 10% Tariff, kop/kWh 110.2 105.7 110.6 0.4% 4.6%

Estimated results of 2011 (average tariff, kop/kWh)

Restrictions for tariff decisions in 2012

Forecast of RF Ministry of Economical Development

Draft of PP RF on the basics of pricing

Tariff ceiling for the transmission tariffs

Tariffs in 1H – on the level of the end of 2011 Tariffs in 2H – 11% growth

The decline in the average tariff in Saint-Petersburg is associated with preservation of the declared capacity at the level of 2011 with the increase in productive electricity supply relative to the approved for 2011 by 4.7%, relative to the estimated for 2011 - by2%.

The declared capacity of the generator voltage consumer OOO KINEF (40 MW) is partly accounted for in the Leningrad region, the declared capacity of other consumers is reduced due to release of "last mile“ subscriber (OAO RZD)

2012 2013 2014

Increase in the annual average rate of tariffs 6% 10% 9-10%

The growth of rates since 2H 11% 9-10% 9-10%

Long-term tariff regulation parameters for Lenenergo were determined at the end of 2010 for the period 2011-2015. In accordance with the order of the Government of the Russian Federation in the period up to 01.04.2012 there should be made the revision of these parameters and the formation of a new tariff projection with the extension of the long=term period at least up to 2017.

* the largest trading company in the region

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Estimated growth of tariffs in 2012 in accordance with business plan

Tariff decisions for electricity transmission in 2012

Indicator Leningrad region Saint-Petersburg Lenenergo,

total

Loss on transmission, built into by regulators due to the smoothing -2,167 -3,697 -5,864

Deviation from the expected expenses accounted for in the tariff model -429 1,241 813

Expected loss on electricity transmission, total -2,596 -2,456 -5,052

In view of limitation of tariffs’ growth in 2012 there is incorporated in the tariff model a loss on electricity transmission through the use of smoothing (which will be compensated in subsequent years):

RUR mln

Formation of required gross proceeds and factors contributing to formation of losses in electricity transmission in 2012

Own funds for investments and

expenses from profit

LR 3,704

SPB -3,697

Loss on electricity transmission, built into

by regulators

LR -2,167

SPB 7,000

Interest on loans, expenses from profit

LR 1,295

SPB 2,072

Smoothing

LR 2,683

SPB 4,559

Own funds for investments

LR -274

SPB 369

Depreciation

LR 1,893

SPB 4,066

- - - = =

Indicator Unit Saint-Petersburg Leningrad region

2011 2012 2011 2012

Controllable expenses RUR mln 2,723 2,884 2,384 2,491

Non-controllable expenses RUR mln 12,348 12,812 9,459 10,041

payment of OAO FGC UES RUR mln 3,765 4,530 2,575 2,371

services of TGO RUR mln 3,437 3,222 4,532 4,916 losses in Lenenergo grids RUR mln 3,713 3,955 1,903 2,313 other non-controllable expenses RUR mln 1,432 1,105 449 441

Repatriation of capital RUR mln 3,051 3,226 2,027 2,089

ROE RUR mln 3,268 5,889 1,556 2,475

Smoothing RUR mln -3,117 -5,822 -3,691 -4,328

Total required gross proceeds RUR mln 18,273 18,988 11,734 12,768

Productive electricity supply mln kWh 18,475 19,227 10,651 11,081 Average electricity transmission tariff kop/kWh 98.9 98.8 110.2 115.2 Growth to the previous year % -0.1% 4.6%

The excess of expenses in the business plan is associated with a reduction in the tariff model of the investment component of TGO

The reduction of expenses in the business plan is associated with the accounting by the Committee on Tariff of Saint-Petersburg of greater amount of interest on loans

Estimated loss is less than the one built into by the regulator

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-4,240 -5,047

6,412 6,295

2011 ожид 2012 план

От услуг по передаче э/э От услуг по ТП

30,705 32,838

1,174

1,107

2011 ожид 2012 план

От услуг по передаче э/э От услуг по ТП

28,711 30,318

8,283 7,928

2011 ожид. 2012 план

От услуг по передаче э/э От услуг по ТП

8,294

9,659

2011 ожид. 2012 план

+3.4% +6.4% -15.6% +35.0% -6.6%

Formation of sales profit and net profit, RUR mln EBITDA, RUR mln

EBITDA margin, %

22.3% 25.2%

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37,165 38,409

77.3 %

22.3% 20.6%

78.9%

Revenue by types of activity*, RUR mln

+3.4%

Costs by types of activity*, RUR mln

31,953 34,012 +6.4%

96.1%

3.7%

96.5%

3.3%

The main factors influencing the formation of the forecast financial result in 2012: - decrease in revenue from services on TC by RUR 355 mln (4.3%) due to the performance of obligations to the largest applicant - OOO Gazprominvestzapad - decrease in revenue from other activities by RUR 7 mln (4.2%) - increase in revenue from electricity transmission services by RUR 1,322 mln (5%) for the following reasons:

• increase in electricity transmission volumes • increase in tariffs for electricity transmission, taking into account the rate of growth in accordance with the scenic terms of IDGC Holding

- increase in costs by RUR 2,059 mln (6.4%), mainly due to increased costs for the purchase of power to compensate for losses, fees to FGC and TGOs, labor costs and depreciation fees while reducing leasing costs

* Including other activities the amount of revenue and costs of which is less than 1% of the total sum

37,165 31,953

5,212 1,000

38,409 34,012

4,397 1,350

Выручка от реализации Себестоимость продукции

Валовая прибыль Чистая прибыль

2011 ожид. 2012 план

1,000 1,350 +35.0%

Net profit by types of activity*, RUR mln

- =

2011 estimated 2012 plan 2011 estimated 2012 plan 2011 estimated 2012 plan

2011 estimated 2012 plan

EBITDA 9,659 100%

Depreciation of FA and IA

5,899 61.1%

Interest to be paid

1,489 15.4%

Profit tax 920 9.5%

Net profit 1,350 14.0% 2011 estimated

2012 plan

Sales revenue Costs Gross profit Net profit

from electricity transmission

from TC from electricity transmission

from TC from electricity transmission

from TC

Financial performance of Lenenergo in 2011 – 2012

31.12.2011 estimated

31.12.2012 plan

Δ in % 31.12.2012/ 31.12.2011

Equity capital 53,215 62,304 17.1%

Liabilities, inc. 51,974 45,746 -12.0%

Long-term borrowings 23,374 26,952 15.3%

Short-term borrowings 28,600 18,794 -34.3%

Equity to liabilities 1.02 1.36 -

Leverage 33.7% 30.6% -3.1 p.p.

31.12.2011 estimated

31.12.2012 plan

Δ in % 31.12.2012/ 31.12.2011

Long-term credits and loans 20,800 25,464 22.4%

Short-term credits and loans*, including: 6,000 1,965 -67.3%

bonded loan (maturity in 2012) 6,000 -100%

Debt on interest 193 50 -73.9%

Accounts payable** 22,734 16,759 -26.3%

Capital structure, RUR mln

Credit portfolio, RUR mln

Senior lenders of Lenenergo:

SBERBANK

VTB BANK Saint-Petersburg

SVYAZ-BANK

JSB ROSSIYA * Liabilities on bonded loans of series 02 and 03 in the amount of RUR 6,000 mln as of 31.12.2011 was transferred in accordance with the requirements of RAS in the structure of short-term liabilities in connection with the upcoming maturity in 2012

Debt position, RUR mln

9.08%

Expected average weighted interest rate in 2012

Agency Rating Assigned

Moody’s Ba2

(forecast - stable) November, 2009

Moody’s Interfax Rating Agency (rating on national scale)

Aa2.ru (forecast - stable)

November, 2009

Credit Ratings

Confirmed in March, 2011

Borrowings flow in 2012, RUR mln

*Net debt is calculated as the sum of credits and loans (including the debt on accrued but not paid interest) minus cash assets and short-term financial investments

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** The amount of aggregate (long-term and short-term) accounts payable is displayed (without debt on credits and loans)

31.12.2011 estimated

31.12.2012 plan

Δ in % 31.12.2012/ 31.12.2011

Net debt as of the end of the period** 20,198 27,272 35.0%

Net debt/EBITDA 2.44 2.82 15.9%

26,800

11,029 10,400

27,429

Кредитный портфель на 31.12.2011г.

Привлечение (выборка)

Погашение Кредитный портфель на 31.12.2012г.

As of the end 2012: • RUR 25,464 mln – long-term liabilities on the sum of main debt;

• RUR 1,965 mln – short-term liabilities on the sum of main debt – loans transferred into the structure of short-term debt in accordance with accounting standards: prior to their maturity is less than one year; • The sum of accrued interest on long-term and short-term credits and loans as of 31.12.2012 is RUR 50 mln

- +

Credit portfolio as of 31.12.2011

Attraction Maturity Credit portfolio as of 31.12.2012

Credit portfolio and debt position of Lenenergo for the end of 2012

Capital investments in accordance with the draft investment program for 2012 will amount to RUR 13,316 mln, that is RUR 1,677 mln, or 11.2% less than in 2011 (estimated) – RUR 14,993 mln

Capital investments in 2011-2012, RUR mln, net after VAT

Investment program, RUR mln

Indicator

Saint-Petersburg Leningrad region Lenenergo

2011 2012 Δ in %

2012/2011 2011 2012

Δ in % 2012/2011

2011 2012 Δ in %

2012/2011

Disbursement, RUR mln, net after VAT 10,997 9,950 -9.5% 3,996 3,366 -15.8% 14,993 13,316 -11.2%

Commissioning of FA, RUR mln 11,428 12,179 6.6% 4,849 3,060 -36.9% 16,277 15,239 -6.4%

Financing, RUR mln, VAT included 11,349 11,746 3.5% 3,870 3,469 -10.4% 15,219 15,215 0.0%

Commissioning of capacities, MVA 437 805 84.4% 290 202 -30.3% 727 1 007 38.6%

Commissioning of capacities, km 851 492 -42.2% 749 658 -12.2% 1 600 1 150 -28.1%

Capacity gain, MVA 349 485 38.9% 140 137 -2.0% 489 622 27.2%

Capacity gain, km 671 296 -55.9% 306 206 -32.7% 977 502 -48.6%

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Lenenergo 2011

estimated 2012 plan

Δ in % 2012/ 2011

Total 14,993 13,316 -11.2%

Retrofitting and renovation

6,703 5,894 -12.1%

New construction 8,289 7,422 -10.5%

CAPEX, RUR mln

14,993 13,316

Indicator 2011

estimated 2012 plan

Δ in % 2012/ 2011

Investment sources, total 15,074 13,316 -11.7%

depreciation 5,214 426 -91.8%

additional issues, including loans attracted for additional issues

1,152 2,119 83.9%

sale of assets 1,898 1,515 -20.2%

lost income 18 - -100%

bank loans 3,135 6,431 105.2%

technological connection fees 3,657 2,826 -22.7%

6,703 5,894

8,289 7,422

2011 ожид. 2012 плпн

ТПиР Новое строительство

Employment of investment sources in 2011-2012, RUR mln, net after VAT

3%

16%

12%

48%

21%

bank loans

TC fees

depreciation

additional issues

sale of assets

R&R New construction

2011 estimated

2012 plan

Investment program of Lenenergo for 2012

1Q -2Q 2012 4Q 2012 – 1Q 2013

2013 2012-2013

Form public offering

Offering price

the weighted average price determined on the results of trading on the MICEX Stock Exchange

for 3 months

Volume of issue, RUR bln 3.98 4.97 0.99 9.94

Payment procedure for shares Cash assets + property*

Lenenergo conducts corporate procedures to launch the additional issue of ordinary shares in 2012-2013

IDGC Holding and the Administration of Saint- Petersburg exercise their preemptive right to purchase shares in accordance with the existing proportion in ordinary shares of Lenenergo

* The St.-Petersburg Government is involved in the additional issue by introducing power grid property

The target designation of funds is the Renovation program of 6-110 kV cable network in Saint- Petersburg

50.31%

25.16%

24.53%

ОАО "Холдинг МРСК" Санкт Петербург Прочие

RUR 2.4 bln

Share of minor shareholders

by achieving the following goals:

The economic effect from implementation of the Renovation program of cable network in St.-Petersburg is the increase of profitability of Lenenergo

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- improving power supply security - reducing wear of grids - reducing losses in grids

IDGC Holding St.-Petersburg Other

Parameters of the additional issue of ordinary shares of Lenenergo in 2012-2013

Federal budget for 2011

LENENERGO

RUR 1 bln

RUR 2 bln

Quarter 4 Quarter 1 2012

IDGC HOLDING

SAINT-PETERSBURG Property

Other shareholders

LENENERGO

LENENERGO

1

2

3

RUR 2 bln to share capital

RUR 975 mln

Cash assets

Quarter 2 2012

Quarters 1 and 2 Quarter 2 2013

preemptive right public offering

2012

After placing the issue

Shareholder Volume of acquisition,

RUR Volume of acquisition,

pcs From share capital, %

IDGC Holding 2,000,000,009 137,362,638 50.31 St.-Petersburg 999,999,072 68,681,255 25.16

Other shareholders 975,0225,829 66,979,796 24.53*

Parameters of the additional issue of ordinary shares in 1Q and 2Q 2012

Plan-schedule of placing the additional issue of ordinary shares 1Q and 2Q 2012

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2011

50.31%

25.16%

24.53% Холдинг МРСК

Город СПб

Прочие акционеры

Offering price RUR 14.56 was defined as the weighted average price of one ordinary

share on the basis of trading on the MICEX SE for 3 months in the period from 08.07.2011 up to 07.10.2011 * Subject to placement of all additional shares in the issue

The total period of placement is 170 days from the state registration date of the additional issue of shares

IDGC Holding

St.-Petersburg

Other shareholders*

Additional issue of ordinary shares of Lenenergo in 1Q and 2Q 2012

THANK YOU FOR YOUR ATTENTION!

JSC Lenenergo 196247, Russia, Saint-Petersburg, Constitution Sq., 1 Head of Department for Corporate Governance and Shareholders Relationship Andrey Smolnikov Tel./ fax +7 (812) 595 31 76 Smolnikov.AS@nwenergo.com

Investor Relations Ulyana Davydova Tel. +7 (812) 494 39 06 Fax +7 (812) 494 37 34 ir@lenenergo.ru Davydova.UE@nwenergo.com

www.lenenergo.ru

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