Notice of Essential Fact

Notice of Essential Fact

'Details of Certain Decisions Taken by the Board of Directors of the Issuer'

(Insider Information Disclosure)

1. General details

1.1. Issuer's full business name

Joint-Stock Company

'Interregional Distribution

Grid Company of the North-West'

1.2. Issuer's abbreviated company name

IDGC of the North-West, JSC

1.3. Issuer's location

Russia, 188300, Leningrad Region, Gatchina, Sobornaya str., 31

1.4. Issuer's PSRN

1047855175785

1.5. Issuer's TIN

7802312751

1.6. Issuer's unique code assigned by the registration body

03347-D

1.7. Internet-page address used by the Issuer for information disclosure

www.mrsksevzap.ru, www.disclosure.ru/issuer/7802312751/

2. Contents of notice

2.1. Quorum of the session of the Board of Directors of the issuer and the results of decision-taking voting:

Quorum of the session of the Board of Directors:

11 out of the 11 members of the Board of Directors participating in the session, the required quorum was present.

issue No. 1:

on Clause 1. FOR - 11, AGAINST - 0, ABSTAINED - 0;

on Clause 2. FOR - 10, AGAINST - 0, ABSTAINED - 1;

on Clause 3. FOR - 10, AGAINST - 0, ABSTAINED - 1;

on Clause 4. FOR - 10, AGAINST - 0, ABSTAINED - 1;

issue No. 2: FOR - 10, AGAINST - 0, ABSTAINED - 1;

issue No. 3: FOR - 9, AGAINST - 1, ABSTAINED - 1;

issue No. 4: FOR - 9, AGAINST - 0, ABSTAINED - 2;

issue No. 5: FOR - 6, AGAINST - 3, ABSTAINED - 2;

issue No. 6: FOR - 9, AGAINST - 0, ABSTAINED - 2;

issue No. 7: FOR - 8, AGAINST - 0, ABSTAINED - 2 (failed to vote - 1 (Clause 3 Article 83 of the Federal Law 'On Joint Stock Companies'));

issue No. 8: FOR - 11, AGAINST - 0, ABSTAINED - 0.

2.2. Contents of decisions taken by the Board of Directors of the Issuer:

ISSUE No. 1: On termination of powers and election of members of the Management Board of the Company.

Decision:

1. Terminate the powers of member of the Management Board of IDGC of the North-West, JSC Anatoly Alexeyevich Mizgin-Somov.

2. Elect members of the Management Board of IDGC of the North-West, JSC as follows:

- Dmitry Ivanovich Nikonov - First Deputy General Director - Chief Engineer of IDGC of the North-West, JSC;

- Vladimir Valeryevich Nesterenko - Deputy General Director for Investment Activities of IDGC of the North-West, JSC;

- Ivan Vladimirovich Medvedev - Deputy General Director - Director of 'Komienergo' branch of IDGC of North-West, JSC.

ISSUE No. 2: On approval of IDGC of North-West, JSC schedule plan of measures for reduction of the amount of overdue receivables for electric energy transmission services and settlement of disputes having arisen as of 01.01.2015.

Decision:

1. Approve of IDGC of the North-West, JSC schedule plan of measures for reduction of the amount of overdue receivables for electric energy transmission services and settlement of disputes having arisen as of 01.01.2015 in accordance with Appendix No. 1 to this decision of the Board of Directors of the Company.

2. Instruct General Director of IDGC of the North-West, JSC to work through additional methods for receivables reduction considering among them the possibility of implementation of measures for assignment of the right to claim receivables from enterprises and organizations undergoing the bankruptcy procedure as well as collection agencies engaging feasibility.

3. To submit a report on execution of the instruction as per Clause 2 of this decision for consideration to the Board of Directors of the Company simultaneously with the issue 'On approval of IDGC of North-West, JSC schedule plan of measures for reduction of the amount of overdue receivables for electric energy transmission services and settlement of disputes having arisen as of 01.04.2015'.

Issue No. 3: On approval of restated Regulations on the Audit Committee under the Board of Directors of the Company.

Decision:

1. Approve of the restated Regulations on the Audit Committee under the Board of Directors of IDGC of the North-West, JSC in accordance to Appendix No. 2 to this decision of the Board of Directors of the Company.

2. Deem invalid the Regulations on the Audit Committee under the Board of Directors of IDGC of the North-West, JSC approved by the Board of Directors of the Company on 27.08.2012 (Minutes No. 109/7).

ISSUE No. 4: Report of General Director on provision for insurance protection of the Company in Q42014.

Decision:

Take under advisement the report of General Director on provision for insurance protection of the Company in Q42014 in accordance with Appendix No. 3 to this decision of the Board of Directors of the Company.

ISSUE No. 5: On consideration of the Report on Efficiency of the Internal Control System of the Company in 2014.

Decision:

1. Endorse the Reporton Efficiency of the Internal Control System of the Company in 2014 ('Audit of Efficiency of the Internal Control System of IDGC of the North-West, JSC in 2014') in accordance with Appendix No. 4 to this decision of the Board of Directors of the Company.

2. Instruct the Sole Executive Body of the Company to implement an array of measures for development and perfection of the internal control and risk management system proposed in the Report on Efficiency of the Internal Control System of the Company in 2014, among other things - measures for internal audit function quality enhancement thus ensuring increase of the level of internal control and risk management system maturity.

ISSUE No. 6: Report on execution of the decision of the Board of Directors of the Company dated 12.12.2014 (Minutes No. 169/11) on the agenda Issue No. 1: 'Report of General Director on execution of the Business Plan of the Company (including the Investment Program) in Q3 2014 and the 9 months of 2014'.

Decision:

1. Take under advisement the report on execution of the decision of the Board of Directors of the Company dated 12.12.2014 (Minutes No. 169/11) on the agenda Issue No. 1: 'Report of General Director on execution of the Business Plan of the Company (including the Investment Program) in Q3 2014 and the 9 months of 2014' to the extent of execution of the instruction given to General Director of the Company to provide information:

- on causes underlying increase of electric energy losses and activities aimed at reducing electric energy losses in the 9 months of 2014;

- on the level of electric energy losses and activities aimed at reducing losses in 2014;

- on possibility and feasibility of conclusion of contracts for provision of electric energy transmission services with major consumers based on analysis of major consumers of Arkhenergo and Vologdaenergo branches of IDGC of the North-West, JSC as well as on contracts for provision of electric energy transmission services already concluded by the Company with major consumers;

- on the results of work for collection of the Company's receivables that has been performed during 2014 and on further plans for receivables reduction.

2. Take notice of absence of objective analysis of the causes underlying failure to implement the measures are aimed at reduction of electric energy losses to the extent of measures for improvement of the electric energy accounting system with Novgorodenergo branch of IDGC of the North-West, JSC.

ISSUE No. 7: On endorsement of Supplementary Agreement No. 3 to Agreement No. SDU-5/2010 on technological cooperation between IDGC of the North-West, JSC and SO of UES, JSC aimed to ensure reliable operation of the Unified Energy System of Russia dated 01.02.2011 as an interested party transaction.

Decision:

Endorse Supplementary Agreement No. 3 to Agreement No. SDU-5/2010 on technological cooperation between SO of UES, JSC and IDGC of the North-West, JSC aimed to ensure reliable operation of the Unified Energy System of Russia dated 01.02.2011 as an interested party transaction in accordance with Appendix No. 5 to the decision of the Board of Directors of the Company.

ISSUE No. 8: On the Company ensuring the established level of reliability and quality of services provided in accordance with the regulatory legal instruments in 2014.

Decision:

Postpone this issue consideration.

2.3. Date of arrangement of the session of the Board of Directors of the Issuer whereat the relevant decisions were taken: 25.03.2015.

2.4. Generation date and number of the minutes of the session of the Board of Directors of the Issuer whereat the relevant decisions were taken: 30.03.2015, No. 177/19.

3. Signature

3.1. Deputy General Director for Corporate Governance of IDGC of the North-West, JSC

(pursuant to Power of Attorney No. 140 dated 26.08.2014)

D.A. Orlov

(signature)

3.2. Date: March 30, 2015 Seal here.

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