Rosseti Volga : Report of Issuer of the issuer-grade securities for 12 montha of 2022

3.2. Information on the Issuer's shareholders (participants, members) or persons/entities entitled to dispose of votes attributable to voting shares (stakes) constituting the Issuer's authorized (share)

3.3. Information on the participation interest of the Russian Federation, a constituent entity of the

Russian Federation or a municipality in the Issuer's authorized capital, the availability of a special

3

Introduction

The information contained in the Issuer's report is subject to disclosure in accordance with Clause 4 of Article 30 of the Federal Law "On the Securities Market"

Basis for the Issuer's obligation to disclose information in the form of the Issuer's report

The securities prospectus has been registered with respect to the Issuer's securities The Issuer is a public joint-stock company

Information on the statements which (reference to which) are contained in the Issuer's report and on the basis of which the Issuer's report discloses information on the Issuer's financial and business operations:

The report contains a reference to the following types of statements: consolidated financial statements, on the basis of which the Issuer's report discloses information on the Issuer's financial and business operations

The report also contains a reference to the accounting (financial) statements, on the basis of which the Issuer's report discloses information on the Issuer's financial and business operations in the following Clauses: 1.3; 1.5; 1.6; 1.7

Information about the Issuer's financial and business operations is reflective of its activities as an entity that, together with other entities, is defined as a group in accordance with IFRS.

The consolidated financial statements on the basis of which information on the Issuer's financial and business operations is disclosed in the Issuer's report give an objective and fair view of the Issuer's assets, liabilities, financial position, profit or loss. Information on the financial position and results of the Issuer's activities contains a fair view of the Issuer's activities, as well as the main risks associated with its activities.

This Issuer's report contains estimates and forecasts regarding future events and/or actions, prospects for the development of the economic sector in which the Issuer carries out its main activities, and the results of the Issuer's activities, its plans, the probability of certain events and certain actions. However, further actual results of the Issuer's activities may differ from the forecasted results for many reasons, thus investors shall not fully rely upon the estimates and forecasts provided in this Issuer's report. The acquisition of the Issuer's securities is associated with risks, including those described in this Issuer's report.

Other information that, in the Issuer's opinion, will be useful for stakeholders in making economic decisions:

In this Issuer's report, Rosseti Volga, Public Joint-Stock Company is also referred to as: Rosseti Volga, PJSC, the Issuer, the Company.

Full corporate name of the Issuer: in Russian - Публичное акционерное общество «Россети Волга», in English - Rosseti Volga, Public Joint-Stock Company;

Abbreviated name: in Russian - ПАО «Россети Волга», in English - Rosseti Volga,

PJSC.

4

Section 1. The Issuer's Management Report

1.1. General information about the Issuer and its activities

Full corporate name of the Issuer: Публичное акционерное общество «Россети Волга»

Abbreviated corporate name of the Issuer: ПАО «Россети Волга»

The following corporate name in a foreign language is registered in the Issuer's Charter: The Issuer's corporate name in a foreign language: Rosseti Volga, Public Joint-Stock

Company; Rosseti Volga, PJSC

Location of the Issuer: Saratov, the Russian Federation

The Issuer's address: 42/44, Pervomayskaya street, Saratov, the Saratov region, 410031, the Russian Federation

Information about the form of incorporation of the Issuer:

The Company was established on June 29, 2007 in Saratov as a wholly owned subsidiary of RAO UES of Russia, OJSC on the basis of a resolution of the sole incorporator of RAO UES of Russia, OJSC (Order of the Management Board of RAO UES of Russia, OJSC No. 191r dated 22.06.2007) as part of implementation of the decision made by the Board of Directors of RAO UES of

Volzhskaya IDC, OJSC, Mordovenergo, OJSC, Penzaenergo, OJSC, Orenburgenergo, OJSC, and Chuvashenergo, OJSC.

During the period from June 29, 2007 till March 31, 2008, IDGC of Volga, OJSC ensured operation of the distribution grid companies encompassed by the Company in accordance with the IDGC configuration. Since October 1, 2007, IDGC of Volga, OJSC has been the sole executive body of these companies.

On December 25, 2007, the Management Board of RAO UES of Russia, JSC exercising functions of the extraordinary General Meeting of Shareholders of IDGC of Volga, JSC (Minutes of Meeting No. 1795pr/8 dated December 25, 2007) passed the resolution on the Company's restructuring through affiliation of Volzhskaya IDC, OJSC; Mordovenergo, OJSC; Orenburgenergo, OJSC, Penzaenergo, OJSC and Chuvashenergo, OJSC.

On April 1, 2008, the reorganization of IDGC of Volga, OJSC was completed through affiliation of five distribution grid companies: Volzhskaya IDC, OJSC, Mordovenergo, OJSC, Orenburgenergo, OJSC, Penzaenergo, OJSC, and Chuvashenergo, OJSC. On April 1, 2008, DGCs, which became part of IDGC of Volga, OJSC, ceased their activities as legal entities and began to operate as branches: Mordovenergo, Orenburgenergo, Penzaenergo, Samara Distribution Grids, Saratov Distribution Grids, Ulyanovsk Distribution Grids, and Chuvashenergo.

Since April 1, 2008 to the present, IDGC of Volga, OJSC operates as a single operating company in the territory of 7 constituent entities of the Russian Federation: Chuvash Republic, Republic of Mordovia, Orenburg, Penza, Saratov, Samara and Ulyanovsk regions with a control center in Saratov.

In view of entry into force of amendments to the Civil Code of the Russian Federation (as amended on May 05, 2014) and abolition of closed and open joint-stock companies, the Company changed its form of incorporation: "Interregional Distribution Grid Company of Volga", Open Joint- Stock Company (IDGC of Volga, OJSC) was renamed to "Interregional Distribution Grid Company of Volga", Public Joint-Stock Company (IDGC of Volga, PJSC). New version of the Charter as amended was approved on June 16, 2015 by the annual General Meeting of Shareholders of the Company and registered by the Inter-district Inspectorate of the Federal Tax Service No. 19 for Saratov Region on

On May 29, 2020, the annual General Meeting of Shareholders of IDGC of Volga, PJSC passed a resolution (Minutes No. 17/2020 dated 29.05.2020) to amend the Company's Charter in view of the

5