MRSK Severo Zapada : Details of Certain Decisions Taken by the Board of Directors of the Issuer

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:

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

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

ISSUE No. 1. On approval of the Company's corrected Business Plan for 2014 including the Investment Program and information on key operational risks for 2015.

Decision:

1. Approve of the Company's Business Plan for 2015 including the Investment Program and information on key operational risks with account for execution of Directive No. 2303p-P13 of the Government of the Russian Federation dated 16.04.2015 concerning annual reduction of operational expenses by at least 2-3% take in accordancewith Appendices Nos 1-3 to this decision of the Board of Directors of the Company.

2. Confidential information.

3. Take under advisement the scopes and structure of the 2015 investment program funding sources forming part of the Company's Business Plan (Section 6 "Investment Program").

ISSUE No. 2. On approval of IDGC of North-West, PJSC 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 01.10.15.

Decision:

1. Approve of IDGC of the North-West, PJSC 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 01.10.15 in accordance with Appendix No. 4 to this decision of the Board of Directors of the Company.

2. Take under advisement the information on execution of the schedule plan of measures for reduction of the amount of overdue receivables for electric energy transmission services and settlement of disputes, generated with regard to the indebtedness having arisen as of the beginning of the previous quarter and previously approved by the Board of Directors (inclusive of information on the work conducted in Q3 2015 with regard to newly originated overdue indebtedness and with regard to the measures for exercise of the right to claim indebtedness from enterprises and organizations undergoing a bankruptcy procedure as having been approved by the Board of Directors in accordance with Appendix No. 5 to this decision of the Board of Directors of the Company.

3. Take notice of IDGC of the North-West, PJSC deviating from the plan of work for exercise of the right to claim indebtedness from enterprises and organizations undergoing a bankruptcy as approved by the Board of Directors of IDGC of the North-West, JSC on 27.05.2015 (Minutes No. 184/26 dated 01.06.2015).

4. Instruct General Director of the Company to submit the issue "On approval of the corrected plan of work for exercise of the right to claim indebtedness from enterprises and organizations undergoing a bankruptcy procedure" for consideration at the next regular session of the Board of Directors of the Company.

5. Take under advisement the information on the rate of turnover of the Company's receivables due for electric energy transmission services in Q3 2015.

ISSUE No. 3: On approval of the Company cash flow benchmark values for Q4 2015.

Decision:

1. Approve of the Company cash flow benchmark values for Q4 2015 in accordance with Appendix No. 6 to this decision of the Board of Directors of the Company.

2. Instruct General Director of the Company to:

provide for formation of the Cash Flow Plan and approval thereof within 5 (Five) business days from the date of this decision;

- communicate the Cash Flow Plan to members of the Board of Directors of the Company no later than within 1 (One) day from the said document approval date.

ISSUE No. 4. On termination of powers and election of members of the Management Board of the Company.

Decision:

1. Terminate the powers of the following members of the Management Board of IDGC of the North-West, PJSC:

- Lutskovich, Viktor Yevgenyevich;

- Mikhalkov, Alexander Vladimirovich;

- Nikiforov, Dmitry Sergeyevich.

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

- Vadim Nikolayevich Fedorov - Deputy General Director for Development and Marketing of Services of IDGC of the North-West, PJSC;

- Pavel Vyacheslavovich Shiryayev - Deputy General Director for Economy and Finance of IDGC of the North-West, PJSC.

ISSUE No. 5: On composition of the Committee for Strategy and Development under the Board of Directors of the Company.

Decision:

1. Early terminate the powers of the member of the Committee for Strategy and Development under the Board of Directors of the Company Valery Vasilyevich Krasnikov.

2. Elect Alexey Igorevich Pavlov, Head of the Finance Administration of Rosseti, PJSC, member of the Committee for Strategy and Development under the Board of Directors of the Company.

ISSUE No. 6. On composition of the Reliability Committee under the Board of Directors of the Company.

Decision:

1. Determine the number of members of the Reliability Committee under the Board of Directors of IDGC of the North-West, PJSC as equal to 7 persons.

2. Elect members of the Reliability Committee under the Board of Directors of IDGC of the North-West, PJSC as follows:

3. Elect Sergey Mikhaylovich Katayev Chairman of the Reliability Committee under the Board of Directors of IDGC of the North-West, PJSC.

ISSUE No. 7: On changes in the personal composition of the Central Procurement Body of the Company - the Central Tender Commission.

Decision:

1. Remove the following persons from the Central Procurement Body of the Company - the Central Tender Commission:

- Lutskovich, Viktor Yevgenyevich;

- Nikiforov, Dmitry Sergeyevich;

- Mizgin-Somov, Anatoly Alexeyevich;

- Belyakova, Natalya Sergeyevna;

- Fomichev, Andrey Sergeyevich.

2. Introduce the following persons into the Central Procurement Body of the Company - the Central Tender Commission:

- Artur Nikolayevich Krivenko - Acting Deputy General Director - Chief of Staff of IDGC of the North-West, PJSC;

Pavel Vyacheslavovich Shiryayev - Deputy General Director for Economy and Finance of IDGC of the North-West, PJSC;

Alexey Yuryevich Fomin - Deputy Department Head - Head of the Tender Procedures Organization Administration of the Logistics and Material and Technical Support Department of IDGC of the North-West, PJSC;

Alexander Vladimirovich Yastrebov - Acting Head of the Technological Development and Innovation Department, Head of the Unit for Preparation of Specifications, Terms of Reference and Design Documentation of the Prospective Development and Design Service of the Technological Development and Innovation Department of IDGC of the North-West, PJSC;

Vadim Yuryevich Yastrebov - Head of the Administration for Logistics and Material and Technical Support of the Department for Logistics and Material and Technical Support ofIDGC of the North-West, PJSC;

Olga Vladimirovna Timoshina - Lead Specialist of the Methodology Unit of the Tender Procedures Organization Administration of the Logistics and Material and Technical Support of the Department of IDGC of the North-West, PJSC (substituting Executive Secretary in case of absence of the latter).

3. Approve of the personal composition of the Central Procurement Body of the Company - the Central Tender Commission as follows:

Chairman of the Central Tender Commission

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

Deputy Chairman of the Central Tender Commission

Denis Alexandrovich Orlov - Deputy General Director for Corporate Governance of IDGC of the North-West, PJSC.

Members of the Central Tender Commission:

Vladimir Sergeyevich Gusev - Deputy General Director for Security of IDGC of North-West, PJSC;

Pavel Vyacheslavovich Shiryayev - Deputy General Director for Economy and Finance of IDGC of the North-West, PJSC;

Artur Nikolayevich Krivenko - Acting Deputy General Director - Chief of Staff of IDGC of the North-West, PJSC;

Denis Vladimirovich Yagodka - Deputy Chief Engineer for Operation - Head of the Maintenance and Repair Department of IDGC of the North-West, PJSC;

Marat Nikolayevich Dinmukhametov - Head of the Technological Development and Innovation Department of IDGC of the North-West, PJSC;

Tatyana Alexandrovna Sidorova - Head of the Economy Department of IDGC of the North-West, PJSC;

Mariya Viktorovna Yegorova - Head of the Investment Administration of IDGC of the North-West, PJSC;

Sergey Viktorovich Cherednichenko - Acting Head of the Corporate and Process ACSs Department of IDGC of the North-West, PJSC:

Alexey Yuryevich Fomin - Deputy Department Head - Head of the Tender Procedures Organization Administration of the Logistics and Material and Technical Support Department of IDGC of the North-West, PJSC;

Alexander Vladimirovich Vinogradov - Acting Head of the Technological Development and Innovation Department, Head of the Unit for Preparation of Specifications, Terms of Reference and Design Documentation of the Prospective Development and Design Service of the Technological Development and Innovation Department of IDGC of the North-West, PJSC;

Vadim Yuryevich Yastrebov - Head of the Administration for Logistics and Material and Technical Support of the Department for Logistics and Material and Technical Support ofIDGC of the North-West, PJSC;

Valery Vasilyevich Katayev - Chief Expert of the Consolidated Planning and Reporting Administration of the Investment Activities Department of Rosseti, PJSC;

Svetlana Viktorovna Berdnikova - Lead Expert of the Procurement Activities Department of Rosseti, PJSC.

Executive Secretary of the Central Tender Commission (not eligible to vote):

Mariya Valeryevna Churina - Head of the Methodology Unit of the Tender Procedures Organization Administration of the Logistics and Material and Technical Support of the Department of IDGC of the North-West, PJSC;

Olga Vladimirovna Timoshina - Lead Specialist of the Methodology Unit of the Tender Procedures Organization Administration of the Logistics and Material and Technical Support of the Department of IDGC of the North-West, PJSC (substituting Executive Secretary in case of absence of the latter).

ISSUE No. 8. Report on execution of the plan of measures for enhancement of activities efficiency and improvement of the financial-and-economic standing of the Company in the 9 months of 2015.

Decision:

1. Approve of the report on execution of the plan of measures for enhancement of activities efficiency and improvement of the financial-and-economic standing of the Company in the 9 months of 2015 in accordance with Appendix No. 7 to this decision of the Board of Directors of the Company.

2. Instruct General Director of the Company to provide the following information in the final annual report on execution of the plan of measures for enhancement of activities efficiency and improvement of the financial-and-economic standing of the Company in 2015:

2.1. with a view of achieving effect in terms of the indicator "Independent construction control covering up to 70% of the investment program capital construction facilities currently under construction in 2019" - specify the number of the Company's facilities covered by independent construction control with account for the facilities designated for adoption of construction control according to the 2015 procurement plan;

2.2. with a view of achieving effect in terms of the indicator "Reduction of the number of technological disturbances (accidents) due to poor quality construction and commissioning of capital construction facilities by up to 30% in 2019 which is to result in reduction of the volume of undersupply of electric energy to consumers and reduction of expenditures on performance of repair and recovery works" - specify the number of technological disturbances (accidents) having occurred due to poor quality construction and classified within the organizational cause Code 3.4.11. "Defects (imperfections) of design, structural solution, manufacture and installation" of Table No. 3, Appendix No. 2 to the Procedure for filling in the form of a statement of investigation into causes of accidents in electric power industry, Appendix No. 2 to Order No. 90 of the Ministry of Energy dated 02.03.2010: On approval of the form of a statement of investigation into causes of accidents in electric power industry and its filling in procedure" with account for the target value of the capital construction quality indicator represented by the percentage of reduction of technological disturbances quantity as follows: 2015 - by at least 10%; 2016 - by at least 15%; 2017 - by at least 20%; 2018 - by at least 25%; 2019 - by at least 30%.

ISSUE No. 9: Report of General Director on the Company's credit policy in Q3 2015.

Decision:

1. Approve of the report on the credit policy of the Company for Q3 2014 in accordance with Appendix No. 8 to this decision of the Board of Directors of the Company.

2. Take notice of temporary exceedence of the middle-term liquidity target limit as of 30.09.15.

3. Agree on temporary exceedence of the middle-term liquidity target limit as of 30.09.15.

4. Instruct General Director of the Company to ensure fulfillment of the requirements of the Regulations on the Company's credit policy approved by the Board of Directors of the Company.

ISSUE No. 10. Report of General Director on provision for insurance protection of the Company in Q32015.

Decision:

Approve of the report of General Director on provision for insurance protection of the Company in Q32015 in accordance with Appendix 9 to this decision of the Board of Directors of the Company.

ISSUE No. 11. On approval of in-house document of the Company: Regulations on Provision for Insurance Protection of the Company.

Decision:

1. Approve of the Regulations on Provision for Insurance Protection of IDGC of the North-West, PJSC in accordance with Appendix No. 10 to this decision of the Board of Directors of the Company.

2. Determine the effective date of the Regulations on Provision for Insurance Protection of IDGC of the North-West, PJSC to be 01.01.16.

ISSUE No. 12. On endorsement of Supplementary Agreement No. 2 to Contract No. 621/334/14 for sublease of non-residential premises between IDGC of the North-West, PJSC and Energoservice of the North-West, JSC dated 17.04.14 representing an interested party transaction.

Decision:

1. Endorse Supplementary Agreement No. 2 to Contract No. 621/334/14 for sublease of non-residential premises between IDGC of the North-West, PJSC and Energoservice of the North-West, JSC dated 17.04.14 (hereinafter referred to as the "Supplementary Agreement") representing an interested party transaction on conditions as follows:

Parties to the Supplementary Agreement:

IDGC of the North-West, PJSC - Lessee;

Energoservice of the North-West, JSC - Sublessee.

Subject of the Supplementary Agreement:

1. In accordance with the amendments introduced to the Lessee's constituent documents and registered by Interdistrict Directorate No. 7 of the Federal Tax Service for the Leningrad Region on July 03, 2015, the Lessee's full registered name shall read as follows: Public Joint-Stock Company "Interregional Distribution Grid Company of the North-West", with the abbreviated registered name to read as IDGC of the North-West, PJSC.

2. The essential details of IDGC of the North-West, PJSC contained in Section XI of the Contract "Essential details of the Parties" shall be stated as follows:

IDGC of the North-West, PJSC

Company's Location: Russia, 188300, Leningrad Region, Gatchina,

Address of the Company: Russia, 188300, Leningrad Region, Gatchina, Sobornaya str., 31.

Postal address: 196247, Saint Petersburg, Konstitutsii sq., 3, Lit. A

TIN 7802312751

KPP 781045001

PSRN 1047855175785

OKPO 74824610

Payer's bank: branch of the Operations Department of VTB Bank (PJSC) in Saint Petersburg, Saint Petersburg.

Settlement account 40702810539000005887

BIC 044030704

Correspondent account 30101810200000000704 with the Main Financial Settlements Center of State Institution "Bank of Russia" for Saint Petersburg.

3. Clause 9.1 of the Contract shall be stated as follows: "Any amendments or supplements to this Contract shall be valid only if executed in writing and signed by duly authorized representatives of the both Parties (except for the cases stipulated by Clause 9.2 of this Contract".

4. Supplement the Contract with Clause 9.2 stated as follows: "In case of changes in the address or essential details (organization, payment and other details), the Party affected by such changes shall be obliged to immediately notify the other Party. Otherwise documents and other information delivered to the address and as per the essential details of the Party as there may have been previously specified shall be deemed accepted (i.e. properly delivered)".

5. Clauses 9.2 - 9.10. of the Contract shall be deemed Clauses 9.3. - 9.11. of the Contract respectively.

6. Prolong the Contract validity term and sublease term from October 14, 2015 to September 13, 2016.

Validity term of the Supplementary Agreement:

The Supplementary Agreement shall form an integral part of the Contract, take effect from the moment of signature, cover the Parties' relationships having originated since 03.07.15 and be effective to the extent of the Contract validity term.

ISSUE No. 13: On determination of the attitude of the Company's representatives concerning issues on agendas of general meetings of shareholders and sessions of Boards of Directors of subsidiary companies of IDGC of the North-West, PJSC.

Decision:

1. Instruct representatives of IDGC of the North-West, PJSC to vote FOR the following decisions to be taken at the session of the Board of Directors of Pskovenergosbyt, JSC:

1.1. on agenda issue "On approval of the report on achievement of the target values of the quarterly KPIs of General Director of the Company in Q3 2015":

"Approve of the report on achievement of the target values of the quarterly KPIs of General Director of the Companyin Q3 2015in accordance with the appendix to this decision of the Board of Directors".

1.2. on agenda issue "On approval of the report on execution of the Business-Plan of the Company in Q3 2015 and the 9 months of 2015":

"Approve of the report on execution of the Business-Plan of the Company in Q3 2015 and the 9 months of 2015, the core indicators being as follows (thousand RUB):

1.3 on agenda issue "On consideration of the report on the credit policy of Pskovenergosbyt, JSC in Q3 2015":

"Take under advisement the report on the credit policy of Pskovenergosbyt, JSC in Q3 2015".

2. Instruct representatives of IDGC of the North-West, PJSC to vote FOR the following decisions to be taken at the session of the Board of Directors of Pskovenergoagent, JSC:

2.1. on agenda issue "On approval of the report on achievement of the target values of the quarterly KPIs of General Director of the Company in Q3 2015":

"Approve of the report on achievement of the target values of the quarterly KPIs of General Director of the Companyin Q3 2015in accordance with the appendix to this decision of the Board of Directors".

2.2. on issue "On approval of the report on execution of the Business-Plan of the Company in Q3 2015 and the 9 months of 2015":

"Approve of the report on execution of the Business-Plan of the Company in Q3 2015 and the 9 months of 2015, the core indicators being as follows (thousand RUB):

2.3 on agenda issue "On consideration of the report on the credit policy of Pskovenergoagent, JSC in Q3 2015":

"Take under advisement the report on the credit policy of Pskovenergoagent, JSC in Q3 2015".

3 Instruct representatives of IDGC of the North-West, PJSC to vote FOR the following decisions to be taken at the session of the Board of Directors of Lesnaya Skazka, JSC:

3.1. on agenda issue "On approval of the report on achievement of the target values of the quarterly KPIs of General Director of the Company in Q3 2015":

"Approve of the report on achievement of the target values of the quarterly KPIs of General Director of the Companyin Q3 2015in accordance with the appendix to this decision of the Board of Directors".

3.2. on agenda issue "On approval of the report on execution of the Business-Plan of the Company in Q3 2015 and the 9 months of 2015":

"Approve of the report on execution of the Business-Plan of the Company in Q3 2015 and the 9 months of 2015, the core indicators being as follows (thousand RUB):

2.3. Date of arrangement of the session of the Board of Directors of the Issuer whereat the relevant decisions were taken: 11.12.2015.

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: Minutes No. 193/8 dated 14.12.15.

2.5. Additional information on the persons having been elected to the collegial management body of the Issuer:

Full personal name of the person having been elected member of the Management Board of the Company: Fedorov, Vadim Nikolayevich

Fraction of the said person's participation in the authorized capital of the Issuer: 0%.

Portion of ordinary shares of the Issuer owned by the said person:0%.

Full personal name of the person having been elected member of the Management Board of the Company: Shiryayev, Pavel Vyacheslavovich

Fraction of the said person's participation in the authorized capital of the Issuer: 0%.

Portion of ordinary shares of the Issuer owned by the said person: 0%.