SECURITIES PROSPECTUS

k) execution by SDCs of transactions (including the acquisition, disposition, pledge or any otherencumbrance through the execution of one or more inter-related transactions) in shares andstakes in the subsidiaries and dependent companies of SDCs which do not produce, transmit,dispatch, distribute and sell electricity and heat;l) execution by SDCs of transactions (including several inter-related transactions) concerning thedisposal or possibility of disposal of property which constitutes fixed assets, intangible assets,construction-in-progress assets used for the purposes of production, transmission, dispatch anddistribution of electricity and heat;m) execution by SDCs of any transactions (including several inter-related transactions)concerning the disposal or possibility of disposal of property which constitutes fixed assets,intangible assets, construction-in-progress assets not used for the purposes of production,transmission, dispatch and distribution of electricity and heat;n) determination of positions of the representatives of SDCs for issues on the agendas of generalmeetings of shareholders (participants) and meetings of the Boards of Directors of thesubsidiaries and dependent companies of SDCs regarding the execution (approval) oftransactions (including several inter-related transactions) concerning the disposal or possibilityof disposal of property which constitutes fixed assets, intangible assets, construction-in-progressassets used for the purposes of production, transmission, dispatch and distribution of electricityand heat;o) determination of positions of the representatives of SDCs for issues on the agendas of generalmeetings of shareholders (participants) and meetings of the Boards of Directors of thesubsidiaries and dependent companies of SDCs which produce, transmit, dispatch, distribute andsell electricity and heat with respect to the reorganization, liquidation, expansion of theauthorized capital of such entities through an increase in the par value of shares or follow-onoffering, placement of securities convertible into ordinary shares.The Board of Directors of the Company adopts resolutions on the issues provided for by clauses"j", "k", "l", "m", "n" of subparagraph 11.1.22 of these Articles of Association in the instances(amounts) provided for by the procedure for interaction of the Company with the economicentities whose shares (equities) are owned by the Company as approved by the Board ofDirectors of the Company in accordance with subparagraph 11.1.21 of these Articles ofAssociation.23. prior approval (in accordance with the procedure set forth in the Procedural Rules forHolding the Board of Directors Meetings) of resolutions on the execution of transactions in thenon-current assets of the Company worth 10 (ten) to 25 (twenty-five) percent of the book valueof these assets on the date of adoption of the resolution on the execution of such transaction;24. prior approval (in accordance with the procedure set forth in the Procedural Rules forHolding the Board of Directors Meetings) of resolutions on the execution by the Company oftransactions (including several inter-related transactions) concerning the disposal or possibilityof disposal of property which constitutes fixed assets, intangible assets, construction-in-progressassets used for the purposes of production, transmission, dispatch and distribution of electricityand heat in the instances (amounts) provided for by the individual procedure specified by theBoard of Directors of the Company;25. prior approval of resolutions on the execution by the Company of transactions (includingseveral inter-related transactions) concerning the disposal or possibility of disposal of propertywhich constitutes fixed assets, intangible assets, construction-in-progress assets not used for thepurposes of production, transmission, dispatch and distribution of electricity and heat in theinstances (amounts) provided for by the individual procedure specified by the Board of Directorsof the Company;26. approval of the Registrar of the Company and the terms and conditions of the agreement withthe Registrar; termination of such agreement;27. election (appointment) of the Director General of the Company and early termination ofhis/her authority;131