Quarterly report

Dates of the commencement and completion of the redemption period coincide.  
Procedure for the determination of the revenue paid on each bond. 
Coupon (interest) period 
Coupon (interest) yield rate 
Commencement date 
Completion date 
 
1. Coupon: 1 
Date of the commence-
ment of the Bonds alloca-
tion 
182
nd
 day after the date 
of the commencement 
of the issued Bonds al-
location. 
The interest rate for the first coupon shall be determined 
by holding a tender (subject to applications received) 
through FB of MICEX among potential buyers of the 
Bonds on the date of the commencement of the Bonds 
allocation. The manner and conditions of the tender 
holding are specified in item 8.3 of the Resolution on the 
issue and item 2.7 of the Prospectus.  
 
2. Coupon: 2 
182
nd
 day after the date of 
the commencement of the 
issued Bonds allocation. 
364
th
 day after the date 
of the commencement 
of the issued Bonds al-
location. 
The second coupon rate is fixed to be equal to the first 
coupon rate. 
 
3. Coupon: 3 
364
th
 day after the date of  546
th
 day after the date  The third coupon rate is fixed to be equal to the first 

 
164
the commencement of the 
issued Bonds allocation. 
of the commencement 
of the issued Bonds al-
location. 
coupon rate. 
 
4. Coupon: 4 
546
th
 day after the date of 
the commencement of the 
issued Bonds allocation. 
728
th
 day after the date 
of the commencement 
of the issued Bonds al-
location. 
The fourth coupon rate is fixed to be equal to the first 
coupon rate. 
 
5. Coupon: 5 
728
th
 day after the date of 
the commencement of the 
issued Bonds allocation. 
910
th
 day after the date 
of the commencement 
of the issued Bonds al-
location. 
The fifth coupon rate is fixed to be equal to the first 
coupon rate. 
 
6. Coupon: 6 
910
th
 day after the date of 
the commencement of the 
issued Bonds allocation. 
1092
nd
 day after the date 
of the commencement 
of the issued Bonds al-
location. 
The sixth coupon rate is fixed to be equal to the first 
coupon rate. 
 
 
The amount of payments per Bond shall be calculated for each coupon under the following for-
mula: 
 
Кj = Cj * Nom * ((T(j) – T(j-1))/ (365* 100 %), where 
 
j – number of the coupon period, j=1-6; 
Кj – amount of the coupon payment per Bond (Rb); 
Nom – nominal value of one Bond (Rb); 
Cj – interest rate for coupon j, interest per annum; 
T(j-1) – date of the commencement of coupon  period j; 
T(j) – date of the end of coupon period j.  
 
The amount of the payment per Bond shall be determined to within one kopeck (the round-up is 
made according to the mathematical round-up rules. Further, the mathematical round-up rule shall 
mean a round-up method according to each a value of an integer kopeck (integer kopecks) does 
not change if the first digit after the rounded one varies from 0 to 4, and increases by one if the 
first digit after  the rounded one varies from 5 to 9). 
The manner and term of the payment of the bond yield, including the manner and term of the 
payment for each coupon. 
 
Coupon (interest) period 
 
Term (date) of the pay-
ment of the coupon (in-
terest) yield 
 
Date of the preparation 
of the list of bond hold-
ers for the payment of 
the coupon (interest) 
yield 
Date of the 
commencement  
Date of the completion 
 
 
1. Coupon: 1 
Date of the commence-
ment of the Bonds alloca-
tion 
182
nd
 day after the date 
of the commencement 
of the issued Bonds al-
location
.
 
182
nd
 day after the date of 
the commencement of the 
issued Bonds allocation. 
Close of the business day 
of NDC previous to the 3
rd
 
(third) business day before 
the date of the coupon 
yield payment. 
Manner  of the coupon (interest) yield payment:  
If the date of the coupon yield payment falls on a holiday, whether it is a State holiday or a holiday for settlement 
transactions, the payment of the amount due shall be made on the first business day following the holiday. The 
Bond holder shall be authorized to require the interest accrual or any other compensation for such delay in pay-
ment. 

 
165
 
The coupon yield payment shall be made in rubles of the Russian Federation in a cashless form. 
 
The payment of the coupon yield shall be made as follows:  
 
The payment shall be made in the currency of the Russian Federation in a cashless form in favor of Bond holders 
being as such as of the end of the operating day of NDC preceding to the 3
rd
 (Third) business day before the date 
of the payment of the yield on the issued Bonds (“Date of the preparation of the List of holders and/or nominal 
holders of the Bonds for the payment of the coupon yield”). 
 
It is presumed that nominal holders, depositors of NDC, are authorized to obtain funds upon the payment of the 
Bond coupon yield. Depositors of NDC being nominal holders and not authorized by their clients to obtain funds 
upon the payment of the Bond coupon yield due shall submit to NDC, before or at 12:00 a.m. (Moscow time) of 
the day preceding the 2
nd
 (Second) business day before the date of the payment of the Bond coupon yield, the list 
of holders and/or nominal holders of the Bonds for the payment of the coupon yield. 
 
A Bond holder not being a depositor of NDC may authorize a nominal holder of the bonds being a depositor of 
NDC to obtain Bond yield amounts. 
 
If the rights of a Bond holder are recorded by a nominal holder of the Bonds and a nominal holder of the Bonds 
is authorized to obtain the Bonds coupon yield, the nominal holder shall be presumed to be a person authorized 
to obtain coupon yield amounts on the Bonds.  
If the rights of the Bond holder are not recorded by a nominal holder of the Bonds or a nominal holder is not 
authorized by the holder to obtain the Bonds coupon yield, the Bond holder shall be presumed to be a person 
authorized to obtain the Bond coupon yield.  
 
On the grounds of the information available or provided by depositors, NDC shall provide the List of holders 
and/or nominal holders of the Bonds for the payment of the coupon yield to the Issuer and the Payment Agent 
before or on the 2
nd
 (Second) business day before the date of the Bond redemption. The list of holders and/or 
nominal holders of the Bonds for the payment of the coupon yield shall include the following information: 
 
a) full name (surname, name, patronymic for an individual) of the person authorized to obtain Bond yield 
amounts;  
 
b) number of the Bonds recorded at the deposit account of a person authorized to obtain Bond yield amounts;  
 
c) location and postal address of a person authorized to obtain Bond yield amounts; 
 
d) references of the banking account of a person authorized to obtain Bond yield amounts, namely: 
 
- number of the account with the bank; 
 
- name of the bank (with the specified city of the bank) with which the account is opened; 
 
- correspondent account of the bank with which the account is opened;  
 
- banking identification code of the bank with which the account is opened. 
 
e) taxpayer’s identification number (TIN) of a person authorized to obtain Bond yield amounts;  
 
f) tax status of a person authorized to obtain Bond yield amounts (resident, nonresident with a permanent repre-
sentative office in the Russian Federation, nonresident without a permanent representative office in the Russian 
Federation, etc.); 
 
g) code of the reason of the registration (KPP) of a person authorized to obtain amounts of the revenue and/or 
redemption of the Bonds. 
 
Bond holders (holder), their authorized persons, including depositors of NDC shall independently monitor the 
completeness and actuality of references of the banking account and information about persons authorized to 
obtain redemption amounts on the Bonds. In the event of the failure of aforesaid persons to provide NDC with 
the said references, the fulfillment of such obligations shall be made in favor of a person who claimed the ful-
fillment of the obligations and being a holder of the Bonds as of the date of the claim submission. In this case, 
the fulfillment by the Issuer of obligations related to the Bonds shall be made based on information of NDC. In 

 
166
this case, obligations of the Issuer shall be deemed to have been duly fulfilled in full. 
 
If references of a banking account or other information required for the fulfillment by the Issuer of its obligations 
under the Bonds, as provided by a holder or a nominal holder, do not allow the Payment Agent to transfer funds 
in a timely manner, such delay shall not be considered as a delay in the fulfillment of obligations under the 
Bonds and a holder of the Bonds shall not be authorized to accrue the interest or other compensation for such 
delay in the payment. 
Before or on the 2
nd
 (Second) business day before the date of the Bond yield repayment, the Issuer shall transfer 
the required funds to the Payment Agent’s account.  
 
On the grounds of the List of holders and/or nominal holders of the Bonds for the payment of the coupon yield, 
as provided by the Depositary, the Payment Agent shall calculate the amounts of funds due to each of the per-
sons authorized to obtain coupon yields on the Bonds. 
 
On the date of the redemption of the Bonds, the Payment Agent shall transfer the required funds to accounts of 
persons authorized to obtain Bond redemption amounts in favor of holders of the Bonds. 
 
If a person is authorized to obtain coupon yields under the Bonds by several Bond holders, the aggregate amount 
shall be amounted to such person without breaking it down by Bond holders. 
 
The fulfillment of the obligations related to the Bonds in favor of a person included into the List of holders 
and/or nominal holders of the Bonds for the payment of the coupon yield is considered to be proper, including in 
the event of the transfer of the Bonds after the date of the preparation of the aforesaid List. 
 
No coupon yield shall be accrued or paid on non-allocated Bonds.  
2. Coupon: 2 
182
nd
 day after the date of 
the commencement of the 
issued Bonds allocation. 
364
th
 day after the date 
of the commencement 
of the issued Bonds al-
location. 
364
th
 day after the date of 
the commencement of the 
issued Bonds allocation. 
Close of the business day 
of NDC previous to the 3
rd
 
(Third) business day be-
fore the date of the coupon 
yield payment. 
Coupon (interest) yield payment procedure: 
The manner of the payment of the second coupon yield is similar to the manner of the payment of the first cou-
pon yield. 
3. Coupon: 3 
364
th
 day after the date of 
the commencement of the 
issued Bonds allocation. 
546
th
 day after the date 
of the commencement 
of the issued Bonds al-
location. 
546
th
 day after the date of 
the commencement of the 
issued Bonds allocation. 
Close of the business day 
of NDC previous to the 3
rd
 
(Third) business day be-
fore the date of the coupon 
yield payment. 
Coupon (interest) yield payment procedure: 
The manner of the payment of the third coupon yield is similar to the manner of the payment of the first coupon 
yield. 
4. Coupon: 4 
546
th
 day after the date of 
the commencement of the 
issued Bonds allocation. 
728
th
 day after the date 
of the commencement 
of the issued Bonds al-
location. 
728
th
 day after the date of 
the commencement of the 
issued Bonds allocation. 
Close of the business day 
of NDC previous to the 3
rd
 
(Third) business day be-
fore the date of the coupon 
yield payment. 
Coupon (interest) yield payment procedure: 
The manner of the payment of the fourth coupon yield is similar to the manner of the payment of the first coupon 
yield. 
5. Coupon: 5 
728
th
 day after the date of 
the commencement of the 
issued Bonds allocation. 
910
th
 day after the date 
of the commencement 
of the issued Bonds al-
location. 
910
th
 day after the date of 
the commencement of the 
issued Bonds allocation. 
Close of the business day 
of NDC previous to the 3
rd
 
(Third) business day be-
fore the date of the coupon 
yield payment. 
Coupon (interest) yield payment procedure: 
The manner of the payment of the fifth coupon yield is similar to the manner of the payment of the first coupon 
yield. 
6. Coupon: 6 

 
167
910
th
 day after the date of 
the commencement of the 
issued Bonds allocation. 
1092
nd
 day after the date 
of the commencement 
of the issued Bonds al-
location. 
1092
nd
 day after the date of 
the commencement of the 
issued Bonds allocation. 
Close of the business day 
of NDC previous to the 3
rd
 
(Third) business day be-
fore the date of the coupon 
yield payment. 
Coupon (interest) yield payment procedure: 
The manner of the payment of the sixth coupon yield is similar to the manner of the payment of the first coupon 
yield. 
For the purpose of the yield on the six coupon, they shall use the List of holders and/or nominal holders of the 
Bonds, as prepared for the purposes of the Bonds redemption. 
The revenue yield on the six coupon shall be paid together with the Bonds redemption. 
 
4. Kind, series (type), form and other identification signs of securities: documentary interest non-
convertible bearer bonds series 04 with the mandatory centralized custody. 
 
State registration number, date of the State registration of the securities issue: 4-04-65018D dated 
07.09.2006; 
date of the State registration of the report on the results of the securities issue: 08.11.2006. 
name of the registration body (bodies) in charge of the State registration of the issue of securities 
and the State registration of the report of the results of the securities issue: FSFR of Russia. 
 
number of securities of the issue: 6,000,000 (Six million) securities; 
 
nominal value of each security of the issue: Rb 1,000 (One thousand) each. 
 
volume of the issue at par value: Rb 6,000,000,000 (Six milliard). 
 
Rights reserved for each security of the issue:  the bonds shall be direct unconditional obligations 
of “Federal Network Company of the United Energy System” Open Joint-Stock Company (“Is-
suer”). Each Bond of this issue shall grant to its holder the same scope of rights.  
 
•
 
A Bond holder shall be entitled to obtain the amount of the nominal value of the Bond.  
•
 
A Bond holder shall be entitled to obtain the interest fixed as a percentage of the nominal 
value of the Bond (coupon yield) after the end of each Period in accordance with item 9.3 of 
the Resolution on the issue (“Resolution on the issue”) and in item 9.1.2. of the Securities 
Prospectus (“Prospectus”). 
•
 
A Bond holder shall be entitled to freely sell or otherwise transfer a Bond. A bond holder 
who bought the Bond upon the initial allocation shall not be authorized to make transac-
tions with the Bond until the State registration of the report on the results of the issue of se-
curities in accordance with the legislation of the Russian Federation.  
•
 
 A Bond holder shall be entitled to have its invested funds back in the event the issue of the 
Bonds is recognized to be failed or invalid in accordance with the legislation of the Russian 
Federation;  
•
 
Actions of Bond holders and/or nominal holders in the event of the refusal of the Issuer to 
fulfill its obligations related to the Bonds of this issue, their non-performance or improper 
performance are described in item 9.7 of the Resolution on the issue and item 9.1.2 e) of the 
Prospectus.  
•
 
A Bond holder shall be authorized to exercise other rights, as provided by the law of the 
Russian Federation. 
 
Full name of the depositary ensuring the centralized custody of securities of the issue:: Non-
commercial Partnership “National Depositary Center”; 
Abbreviated name: NDC 
Location: 1/13, Sredniy Kislovskiy Lane, bld. 4, Moscow, 

 
168
Postal address: 1/13, Sredniy Kislovskiy Lane, bld. 4, 125009 Moscow, 
TIN: 7706131216 
Phone: [phone] 
Number of the license: № 177-03431-000100 (to carry out the depositary activity) 
Issue date: 04.12.2000, 
Validity term: perpetual license  
Licensing body: Federal Securities Commission of Russia. 
 
Manner and condition of the issued bonds redemption: 
Date of the bonds redemption: 
the 1820
th
 (one thousand eight hundred and twentieth) day after the date of the commencement 
of the allocation of the issued Bonds. 
Date (date fixing procedure) as of which the list of bond holders is made for their re-
demption:  
The redemption of the Bonds is made in favor of the Bond holders being as such as of the 
close of the business day of NDC previous to the 3
rd
 (Third) business day before the date of the 
Bonds redemption (“Date of the preparation of the list of Bond holders and/or nominal holders”).  
The redemption of the Bonds in favor of a holder included in the List of holders and/or 
nominal holders of the Bonds shall be recognized to be proper, including in the event of the 
transfer of the Bonds after the Date of the preparation of the list of Bond holders and/or nomi-
nal holders. 
 
Other conditions and manner of the bond redemption:  
The redemption of the bonds is made at par value. 
The bonds redemption shall be made by the payment agent upon the request and at the ex-
pense of the Issuer (“Payment Agent”). 
The bonds redemption shall be made in the currency of the Russian Federation in a cash-
less form in favor of Bond holders. 
It is presumed that nominal holders, depositors of NDC, are authorized to obtain funds 
upon the payment of the Bond redemption amount.  
The fulfillment by the Issuer of its obligations related to the Bonds redemption shall be 
made on the grounds of the list of holders and/or nominal holders, as provided by NDC (“List of 
holders and/or nominal holders”). 
A depositor of NDC not authorized by their clients to obtain funds upon the payment of 
the Bond redemption amount due shall submit to NDC, before or at 12:00 a.m. (Moscow time) 
of the day preceding the 2
nd
 (Second) business day before the date of the Bond redemption, the 
list of Bond holders which shall contain all the references specified below in the List of holders 
and/or nominal holders of the Bonds. 
If the rights of a Bond holder are recorded by a nominal holder of the Bonds and a 
nominal holder of the Bonds is authorized to obtain the Bonds redemption amount, the nomi-
nal holder shall be presumed to be a person authorized to obtain amounts of the Bonds re-
demption.  
If the rights of the Bond holders are not recorded by a nominal holder of the Bonds or a 
nominal holder is not authorized by the holder to obtain the Bonds redemption, the Bond 
holder shall be presumed to be a person authorized to obtain the Bond redemption.  
On the grounds of the information available or provided by depositors, NDC shall sub-
mit the List of holders and/or nominal holders of the Bonds to the Issuer and/or the Payment 
Agent before or on the 2
nd
 (Second) business day before the date of the Bond redemption.  
The list of holders and/or nominal holders of the Bonds shall include the following in-
formation: 
a) full name of the person authorized to obtain amounts related to the Bond redemption 
(surname, name, patronymic of a holder for an individual);  

 
169
b) number of the Bonds recorded at the deposit account of a person authorized to obtain 
amounts related to the Bonds redemption;  
c) location and postal address of a person authorized to obtain amounts related to the 
Bonds redemption; 
d) name and references of the banking account of a person authorized to obtain 
amounts related to the Bonds redemption, namely: 
- number of the account; 
- name of the bank  with which the account is opened; 
- correspondent account of the bank with which the account is opened;  
- banking identification code of the bank with which the account is opened. 
e) taxpayer’s identification number (TIN) of a person authorized to obtain amounts re-
lated to the Bond redemption (if any);  
f) tax status of a person authorized to obtain amounts related to the Bond redemption 
(resident, nonresident with a permanent representative office in the Russian Federation, non-
resident without a permanent representative office in the Russian Federation, etc.); 
g) code of the reason of the registration (KPP) of a person authorized to obtain amounts 
of the revenue and/or redemption of the Bonds. 
In addition to the aforesaid information, the nominal holder shall provide NDC with, 
and NDC shall include in the List of holders and/or nominal holders of the Bonds the follow-
ing information regarding individuals and legal entities being nonresidents of the Russian 
Federation, being Bond holders, irrespective of whether a nominal holder is authorized to ob-
tain Bond redemption amounts or not: 
a) if a Bond holder is a legal entity – nonresident: 
- individual identification number (IIN) ( if any); 
b) if a Bond holder is an individual: 
- kind, number, date and the place of the issue of the identity document of  the holder, 
name of the issuing authority; 
- day, month, and year of birth of the holder; 
- place of the registration and postal address, including postal code, of the holder; 
- tax status of the holder; 
- number of the  holder’s State pension registration certificate (if any); 
- TIN of the holder (if any). 
Bond holders (holder), their authorized persons, including depositors of NDC shall pro-
vide NDC with the required information in a timely manner and independently monitor the 
completeness and actuality of information submitted to NDC. They shall run all the risks con-
nected with the non-submission/delayed submission of the information.  
In the event of the failure of aforesaid persons to provide NDC with the said references 
required for the fulfillment by the Issuer of its Bond obligations, the fulfillment of such obliga-
tions shall be made in favor of a person who claimed the fulfillment of the obligations and be-
ing a holder of the Bonds as of the date of the claim submission. In this case, the fulfillment by 
the Issuer of obligations related to the Bonds shall be made based on information of NDC. In 
this case, obligations of the Issuer shall be deemed to have been duly fulfilled in full. If refer-
ences of a banking account or other information required for the fulfillment by the Issuer of its 
obligations under the Bonds, as provided by a holder or a nominal holder or available with the 
Depositary, do not allow the Payment Agent to transfer funds in a timely manner, such delay 
shall not be considered as a delay in the fulfillment of obligations under the Bonds and a 
holder of the Bonds shall not be authorized to require the accrual of the interest or other com-
pensation for such delay in the payment. In cases provided by the agreement with NDC, the 
Issuer shall be authorized to require the confirmation of such information by data related to 
the rights recorded with regard to the Bond.  
The Bond redemption in favor of a holder included in the List of holders and/or nomi-
nal holders of the Bonds shall be recognized to be due, including in the event of the transfer of 

 
170
the Bonds after the Date of the preparation of the list of holders and/or nominal holders of the 
Bonds. 
Before  or  on  the  2
nd
 (Second) business day before the date of the redemption of the 
Bonds, the Issuer shall transfer the required funds to the Payment Agent’s account.  
On the grounds of the List of holders and/or nominal holders of the Bonds for the re-
demption, as provided by the NDC, the Payment Agent shall calculate the amounts of funds 
due to each of the persons authorized to obtain redemption amounts on the Bonds. 
On the date of the redemption of the Bonds, the Payment Agent shall transfer the re-
quired funds to accounts of persons authorized to obtain Bond redemption amounts, as pro-
vided by the List of holders and/or nominal holders of the Bonds. 
If a person is authorized to obtain redemption amounts under the Bonds by several 
Bond holders, the aggregate amount shall be amounted to such person without breaking it 
down by Bond holders. Nominal holders of the Bonds not being holders of the Bonds shall 
transfer funds obtained for the Bonds redemption due to holders of the Bonds in the manner 
determined between a nominal holder of the Bonds and a holder of the Bonds. 
Upon the redemption of the Bonds the coupon yield shall be also paid for the last cou-
pon Period.  
If the date of the Bonds redemption falls on a holiday, whether it is a State holiday or a 
holiday for settlement transactions, the payment of the amount due shall be made on the first 
business day following the holiday. The Bond holder shall be authorized to require the interest 
accrual or any other compensation for such delay in payment. 
Debiting deposit accounts upon the redemption shall be made after the fulfillment by 
the Issuer of all the obligations to holders of the Bonds upon the payment of revenues and the 
nominal value of the Bonds. 
The redemption of the certificate shall be made after the transfer of all the Bonds from 
the deposit account of NDC. 
 
The amount of the interest (coupon) yield on bonds, manner and conditions of its payment shall 
be as follows: 
 
Procedure for the determination of the yield