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~ Active co-operation with the authorized organizations in environment control.

~ Providing the required training and enhancing the personal responsibility for environmentprotection;

~ Minimizing and if possible preventing environmental pollution through implementing short-termand long-term programmes;

~ Re-using and recycling the waste generated, aswell as its appropriate utilization and disposal;

~ Economic consumption of natural and energy resources;

~ Continuous improvement and prevention of pollution;

The joint-stock company "Hydroenergy Company" AD aims at continuous improvement of theprotection of environments, maintaining and developing the introduced Integrated managementsystem in compliance with the requirements of ISO 14001:2004 while applying the appropriatelegislative and regulatory requirements. Thispolicy is aimed at the development of all the activitiesand processes in observance of the following guidelines:

ISO 14001:2004 Environment Management System

The quality of work is a comprehensive obligation at "Hydroenergy Company" AD defining also theresponsibility of each employee of ours. The Board of Directors of our company fully recognizes itsobligations for developing and maintaining the ISO9001:2008quality management system that helpsussatisfy our customers' requirements and improve our performance continuously.

~ achieving, maintaining, and aiming at continuous improvement of quality of constructionprojects and designs in compliance with the requirements of the Bulgarian and internationalstandards

~ improving out business aiming at complying with the requirements of the Bulgarian andinternational standards in order to meet the challenges of competition on the domestic andinternational market;

~ defending our customers' interests;

As a leading organization in the area we undertake the obligation to always offer products satisfyingour customers' requirement with regard to quality and professional performance. Our business andour success are based on:

ISO 9001:2008 Quality Management System

"Hydroenergy Company" AD is a company with an extensive experience in the field of constructionof power engineering infrastructure, public utility infrastructure, hydro-engineering construction, aswell as high-rise buildings, the belonging infrastructure, electronic communication networks andfacilities.

The Management body of the joint-stock company "Hydroenergy Company" ADdeclares its Policy of quality, environment and occupational health and safety

POLICIESOF "HYDROENERGYCOMPANY" AD~IHECBetter energy. Better Ii!e.

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Managing Director: (signed)Vladimir Tabutov

Dated: May 26,2015Place: Blagoevgrad (Bulgaria)

Every employee of "Hydroenergy Company" AD has been acquainted with the policies of quality,environment and occupational health and safety and to that regard does his/her best to personallycontribute to their implementation.

);> Active co-operation with the authorized organizations in the control of occupational health andsafety and with all the parties concerned in resolving the problems related to the provision of healthyand safe conditions of work.

);> Providing the required training and enhancing the personal responsibility of the persons engagedin the provision of occupation health and safety;

);> Monitoring and measuring the major characteristics of the processes and activities related to theprovision of occupational health and safety and undertaking measures to achieve their compliancewith the legal and regulatory requirements;

);> Preventing and reducing possible diseases, injuries and damages related to the occurrence ofincidents and emergency situations through particular programmes for developing and maintaininga high level of readiness to respond to disasters,emergencies and accidents;

);> Compliance with the legal and other (voluntarily accepted) requirements with regard tooccupational health and safety related to the company's business;

);> Continuous improvement of conditions of work through minimizing the risksfor the staff and otherparties concerned that could be subject to health and safety hazards related to activities,processes, products and services of the organization;

.Hvdroenerqv Company" AD sets one more main objective - the continuous improvement ofactivities for the provision of occupational health and safety at the performance of assignments ofthe company businessand application of the appropriate legislative and regulatory processes, Thispolicy isaimed at all the activities, processes, work places and work equipment for the maintenanceand continuous improvement of the healthy and safe work environment for all the company'semployees, in observance of the following principles:

OHSAS 18001:2007 Occupational Health and Safety Management System

POLICIES OF "HYDROENERGY COMPANY" AD~HECBetter energy. Better life.