OREANDA-NEWS. June 29, 2012. Extraordinary General Meeting of JSC OGK-1 resolved to divest JSC First Generation from OGK-1 and concurrently start a process of merging it with JSC INTER RAO — Electric Power Plants (a fully owned subsidiary of JSC INTER RAO UES). At the same time Extraordinary General Meeting of JSC OGK-1 resolved to merge JSC OGK-1 with JSC INTER RAO UES.

JSC First Generation separation:

Authorized capital of JSC First Generation will be paid by JSC OGK-1 using its own additional capital. Authorized capital of JSC First Generation will be 587.3 million RUB split into 58.73 billion common registered non-certificated shares with face value of 0.01 RUB. JSC OGK-1 will purchase all common registered non-certificated shares of JSC First Generation through a private placement.

Shareholders also approved the Articles of Incorporation of JSC First Generation.

Restructure of JSC First Generation

Extraordinary General Meeting of JSC OGK-1 resolved to merge JSC First Generation with JSC INTER RAO — Electric Power Plants.

All common registered non-certificated shares of JSC First Generation will be converted into additional common registered non-certificated shares of JSC INTER RAO — Electric Power Plants issued for the purpose of this conversion.

One common registered non-certificated share of JSC INTER RAO — Electric Power Plants with face value of 1 RUB will be issued for every 0.921525235693421 common registered non-certificated shares of JSC First Generation with face value of 0.01 RUB.

JSC OGK-1 merge with JSC INTER RAO UES.

Extraordinary General Meeting of JSC OGK-1 resolved to merge JSC OGK-1 with JSC INTER RAO UES.

Upon merger of JSC OGK-1 with JSC INTER RAO UES, all registered non-certificated shares of JSC OGK-1 except those due for retirement will be converted into additional registered non-certificated shares of JSC INTER RAO UES issued for the purpose of this conversion.

One common registered non-certificated share of JSC INTER RAO UES with face value of 0.02809767 RUB will be issue for every 0.0416666666666667 common registered non-certificated shares of JSC OGK-1 with face value of 0.57478 RUB.