Share Capital

Shareholding structure

Authorised capital as at 31 December 2024: RUB 15,164,142,635.43.

Ordinary shares: 151,641,426,354.30.

Par value of shares: 10 kopecks each.

Preferred shares: not issued.

Declared shares: 28,918,182,335 ordinary shares with a par value of 10 kopecks each, for a total par value of RUB 2,891,818,233.50.

Cross-shareholdings: none

Treasury shares (own shares): none

Quasi-treasury shares (ownership of own shares through subsidiaries): none

Shareholders: 17,539 persons as of 31 December 2024

Controlling shareholder: PJSC Rosseti (84.16% of shares). The Russian Federation, represented by the Federal Agency for State Property Management, owns 76.9936% of the outstanding shares of PJSC Rosseti.

PJSC Rosseti South does not have any information:

• On the existence of shareholders holding over 5% of the Company’s issued shares, other than those mentioned above
• On whether certain shareholders may acquire or have acquired a degree of control disproportionate to their share in the Company’s authorised capital, including on the basis of shareholder agreements

No decision was made to use the special right of participation of the Russian Federation in the management of the Company (‘golden share’).

Trading shares on the stock exchange

Ordinary shares of Rosseti South have been traded on the Moscow Exchange since 3 July 2008 and, on 26 February 2018, were transferred from the Second Level to the Third Level of the List of Securities Admitted to Trading on the Moscow Exchange.

At the end of 2024, the market price of a share of PJSC Rosseti South on the Moscow Exchange decreased from RUB 0.0666 to RUB 0.05845 (by 12.24%).

The market capitalisation of the Company as of 30 December 2024 amounted to RUB 8,863,441,370.39 according to the Moscow Exchange.

The analysis results show that the overall share price dynamics are in line with the Moscow Exchange’s electricity index (MOEXEU).

Based on press release monitoring data on the economic situation in the Russian Federation in 2024, the following conclusions can be drawn:

• The Russian stock market, which since 2022 has been adapting to extreme geopolitical tensions and sanctions, is also closing out the year under internal pressure from the Bank of Russia’s tight monetary policy, which is shifting investor interest to bank deposits.
• For almost the entire year, Russian financial authorities worked on a plan to increase the attractiveness of the stock market and double its capitalisation by 2030 (to 66% of GDP), which was formalised in a presidential decree. This should be facilitated by restructuring the state support system, encouraging issuers to enter the capital market instead of relying on bank loans, listing state-owned companies on the stock exchange, and continuing the already launched long-term savings programme and third-type individual investment accounts.
• The first half of the year was mostly positive. However, market correction began in May.

At the end of 2024, the Moscow Exchange Index fell by 6.97%, dropping from 3,099.11 to 2,883.04 points. After the Moscow Exchange Index reached its annual high in May, the Bank of Russia announced changes to tax legislation. It was also announced that the key rate may be raised to counter high inflation. Following this news, the index began to show a gradual decline. By early September, it had fallen to 2,650 points. The index returned to higher levels after the Bank of Russia decided to keep its key rate unchanged.

Thus, the factors that had a negative impact on the Russian stock market during the year were the pressure of tight monetary conditions (in 2024, the Bank of Russia raised the key rate from 16% to 21%), continued geopolitical tensions and new sanctions, including those against the Moscow Exchange.

In 2025, analysts expect the stock market to resume growth. The most optimistic forecast predicts that the Moscow Exchange Index will rise to 5,000 points by the end of 2025.

Dividend Policy

The Company’s dividend policy is defined by the Regulations on Dividend Policy approved by the resolution of the Company’s Board of Directors dated 2 February 2018 (Minutes No. 258/2018 dated 5 February 2018) with amendments dated 31 July 2018 (Minutes No. 281/2018 dated 3 August 2018).

The dividend policy of the Company sets the amount of dividends at the level of not less than 50% of net profit under IFRS, and in addition there is a number of restrictions on the payment of interim dividends, including if the payment requires borrowing, if the payment leads to a deterioration in creditworthiness or if failure to fulfil the investment programme.

In accordance with the Company’s Articles of Association, the General Meeting of Shareholders in 2025 will decide on the distribution of profits based on the results of 2024.

Minutes of the Annual General Meetings of Shareholders are available at the Company’s website: https://rosseti-yug.ru/en/corporate-managment/committees-attached-to-board-of-directors/.

Report on dividends received by PJSC Rosseti South

In 2024, RUB 100,781,000 in dividends were received on shares in JSC Energoservis Yuga owned by the Company.

Shareholder and Investor Relations

During the reporting year, the Company continued to provide information and interact with various groups of shareholders and investors, ensuring unconditional compliance with the legal rights of all interested parties.

In order to ensure that the Company’s shareholders are able to exercise their rights, the Company shall disclose information in a timely manner in accordance with the law and the Company’s internal documents.

One of the important ways that PJSC Rosseti South uses to share information with interested parties is its website, which allows interested parties to quickly find all the information disclosed by the Company.

A dedicated email address was set up to respond to queries and requests from shareholders, investors and other interested parties. In addition to the general contact details, the Company’s website also lists a telephone number for shareholder consultations.

During the preparation period for the Annual General Meeting of Shareholders, for the convenience of shareholders and other interested parties, an interactive creeping line feature will be activated on the Company’s corporate website, allowing shareholders to quickly navigate to the section of the website containing information materials for the meeting.

The Company strives to prevent or fairly resolve any corporate conflicts between the Company and its shareholders, while ensuring the protection of shareholders’ rights and compliance with the requirements of legislation and internal documents.

The Company uses particular care to advise shareholders on updating their personal data, receiving dividends, inheritance and other issues related to the exercise of their rights to securities.

For more details on disclosure of information by the Company to shareholders and investors, see the Information Disclosure section of this Annual Report.

The action plan for interaction between PJSC Rosseti South and the investment community for 2024 was published on the Company’s website in the Home/To Shareholders and Investors/IR Calendar section at: https://rosseti-yug.ru/aktsioneru-investoru/ir-kalendar/.