ACRA ASSIGNS AA+(RU) TO THE SERIES 001P-01 (RU000A10ET56) BOND ISSUE OF ROSSETI SIBERIA, PJSC

Credit rating rationale. The issue represents senior unsecured debt of Rosseti Siberia, PJSC (hereinafter, Rosseti Siberia or the Company). Due to the absence of either structural or contractual subordination of the issue, ACRA ranks it as equal to other existing and future unsecured and unsubordinated debt obligations of the Company in terms of priority. In accordance with ACRA’s methodology, the detailed approach was used, according to which the recovery rate on the issue belongs to category I, therefore the credit rating of the issue is on par with the credit rating of the Company — AA+(RU).

The Company’s credit rating is based on the strong position in its regions of presence, strong operating profile, as well as the good assessments of business profitability and liquidity. The rating is constrained by the medium business size indicator, medium leverage, low coverage, and weak cash flow. The rating is supported by the high likelihood of the Company receiving extraordinary support from “ROSSETI”, PJSC (ACRA rating: AAA(RU), outlook Stable).

Rosseti Siberia is an interregional electric grid organization operating in the Altai Republic, Republic of Buryatia, Republic of Khakassia, Altai Krai, Zabaikalsky Krai, Krasnoyarsk Krai, Kemerovo Region–Kuzbass, and the Omsk Region.

KEY ISSUE PROPERTIES

Sources: ACRA, issuer’s data

Regulatory disclosure

The credit rating has been assigned to the bond issue of Rosseti Siberia, PJSC based on the following methodologies: the Methodology for Assigning Credit Ratings to Issues of Financial Instruments on the National Scale for the Russian Federation to determine the credit rating of the bond issue under the national scale for the Russian Federation; the Key Concepts Used by the Analytical Credit Rating Agency within the Scope of Its Rating Activities to ensure consistent and uniform application of ACRA’s methodologies, rating scales, models, and key rating assumptions.

The credit rating of the series 001P-01 bond issue (RU000A10ET56) of Rosseti Siberia, PJSC under the national scale for the Russian Federation has been published for the first time.

The credit rating is expected to be revised within one year.

The credit rating was assigned based on data provided by Rosseti Siberia, PJSC, information from publicly available sources, and ACRA’s own databases. The rating analysis was performed using the IFRS financial statements of Rosseti Siberia, PJSC as of December 31, 2024.

The credit rating is solicited and Rosseti Siberia, PJSC participated in its assignment.

In assigning the credit rating, ACRA used only information, the quality and reliability of which were, in ACRA’s opinion, appropriate and sufficient to apply the methodologies.

ACRA provided no additional services to Rosseti Siberia, PJSC during the year preceding the rating action.

No conflicts of interest were discovered in the course of credit rating assignment.