Unipro PJSC

2021 12M results

February 22, 2022

Strong financial performance based on improving operational factors

EBITDA 1,2

EBIT 1,2

RUB bn

RUB bn

29.6

30.1

23.6

22.3

26.420.3

12M 2019 12M 2020 12M 202112M 2019 12M 2020 12M 2021

Underlying Net Income 1,2

CAPEX³

RUB bn

RUB bn

19.7

14.2

17.9

11.4

10.0

16.4

12M 2019

12M 2020

12M 2021

12M 2019

12M 2020

12M 2021

  1. Unipro Group IFRS stand alone
  2. Adjusted for extraordinary effects
  3. Including investments in subsidiaries
  4. Excluding sales which are not considered in gross margin calculation

Gross margin⁴ (+14.2%)

Higher achieved electricity prices and generation volume increase after the pandemic impact in 2020.

Contribution of power Unit 3 of Berezovskaya GRES to the financial result.

EBITDA (+14.1%)

Strong gross margin boosted EBITDA

CAPEX (+14.4%)

Implementation of the Surgut modernization program starts having an impact on capital investments.

Unipro PJSC, 2021 results, Moscow, February 22, 2022

2

CoD of power unit No. 1 of Surgutskaya GRES-2 is expected by the end of March 2022

2019

2020

2021

2022

Pre-project survey

Plant

offline

Project design

Equipment manufacturing

Equipment delivery

Technological connection

Construction works

Testing and

commissioning

Start of power delivery

The main construction and installation works of the project were completed on schedule.

Power unit was connected to the grid and gradually gained a nominal capacity of 830 MW.

The remaining works on setting up the equipment will focus on calibration and final commission of equipment.

CoD is estimated at the end of March 2022.

01.04.2022

Unipro PJSC, 2021 results, Moscow, February 22, 2022

3

Unipro benefitted from positive market factors in the first price zone

Consumption

TWh

DAM Price

RUB/Mwh

Electricity generation of Unipro in the

+6%

213 225

4Q 2020

4Q 2021

+6%

778

825

12М 2020

12М 2021

+18%

1 325

1 123

4Q 2020

4Q 2021

+16%

1 324

1 140

12М 2020

12М 2021

first price zone increased by 9% and amounted to 41 TWh.

Recovery of the internal consumption in Russia and electricity exports to Finland and the Baltic countries.

Nuclear / Hydro Generation

Unipro Generation

Slightly lower combined volume of nuclear and hydro generation.

TWh

77

75

-1%

-12%

4Q2020

4Q2021

Hydro generation

287

284

+3%

-14%

12М 2020

12М 2021

Nuclear generation

TWh

+9%

37.4 40.7

+9%

9.9 10.8

4Q 2020

4Q 2021

12М 2020

12М 2021

Notable DAM price increase due to market factors and gas price indexation by 3% from 01 August 2020 and from 01 July 2021.

Unipro PJSC, 2021 results, Moscow, February 22, 2022

4

Unipro's operating result was supported by positive market developments in the second pricing zone

Consumption

TWh

+4%

209

217

+4%

57

59

4Q 2020

4Q 2021

12М 2020

12М 2021

DAM Price

RUB/Mwh

+23%

931

759

4Q 2020

4Q 2021

+6%

818

863

12М 2020

12М 2021

Electricity generation of Unipro in the second price zone increased by 5% and amounted to 5 TWh.

In 2021, the 8 TWh increase in consumption almost absorbed the 10 TWh increase in hydro generation in Siberia.

In Q4, higher consumption and flat

Hydro Generation

TWh

+8%

Unipro Generation

TWh

+5%

hydro generation led to a higher load of Berezovskaya GRES.

118

128

0%

32

32

4Q 2020

4Q 2021

12М 2020 12М 2021

+50%

1.8

1.2

4Q 2020

4Q 2021

4.3 4.5

12М 2020 12М 2021

Beyond, the increased consumption plus the higher coal price supported the increase of the DAM price especially in Q4.

Unipro PJSC, 2021 results, Moscow, February 22, 2022

5

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Unipro PJSC published this content on 22 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 February 2022 09:00:02 UTC.