Current Report No.: 43/2012

Current Report No.: 43/2012

Date of preparation: 23.10.2012

Short name of issuer: ENEA S.A.

Subject: Nomination of a member of the Supervisory Board of ENEA S.A.

Legal basis: Article 56 item 1(2) of the Act on Offerings - current and periodic information

Content of report:

Acting pursuant to § 5 item 1(22) of the Regulation of the Minister of Finance of 19 February 2009 on current and periodic information published by issuers of securities [...], the Board of ENEA S.A. (Company) informs that on 22 October 2012 the Extraordinary General Meeting of Shareholders of ENEA S.A. nominated Mr. Michał Piotr Jarczyński into the composition of the Supervisory Board of the Company for the 8th common term.

Mr. Michał Piotr Jarczyński holds higher qualification, graduated from the Poznań University of Technology and post-graduate studies on the Poznań University of Economics - Financial Analysis and Controlling. He is skilled within modern management techniques (reengineering, Balance Scorecard, process management), accounting, controlling and finance, knowledge of capital market and investor relations.

Professional experience:

From IV 2009 till now - Arctic Paper S.A. seated in Poznań on the position of the Chief Executive Officer - Arctic Paper Group.

Managing the international group operating in the paper industry, listed on the Warsaw Stock Exchange from October 2009, operating in 27 European countries - possessing 4 factories (800 thou tons of production annually) and 15 sales offices (1.700 people employed, PLN 2.7 bln turnover, PLN 150 mln EBITDA ). During the management of Arctic Paper group Mr. Jarczyński led to covering the factory in Kostrzyn with tax credits by title of the expansion of the Special Economic Area - a tax credit of EUR 20 mln till 2017, realised from A to Z (green-field - from the concept stage through funding, contract award procedures, to launching) of a gas-fired combined heat and power plant with the capacity of 40 MWe and value of PLN 170 mln, achieved a subsidy for the aforementioned investment in the total amount of PLN 45 mln, performed the restructuring of the group's indebtedness in October 2008 (after the demise of Lehman Brothers) for the amount of EUR 100 mln, performed the acquisition of factories in Germany and Sweden, doubled the profitability, prepared and successfully conducted the IPO on the WSE in October 2009.

From XI 1998 to IV 2009 - Arctic Paper Kostrzyn S.A. (to 31.12.2002 under the name of KOSTRZYN PAPER S.A.) seated in Kostrzyn nad Odrą, where he held the following functions: Vice Financial Director, then Financial Director, Vice-President of the Board, and from January 2003 President of the Board.

Mr. Michał Piotr Jarczyński managed one of the three largest paper factories in Poland, being a part of the Arctic Paper group employing 420 people and with the annual turnover of the factory PLN 750 mln, and with a 70% share of export - mainly to Western Europe. When Mr. Michał Piotr Jarczyński held the management position the factory became the largest, most profitable and most effective enterprise within the group.

Selected projects which he managed are: implementation of the Balanced Scorecard project, introduction of the reengineering concept, controlling tools to profitability management and a system based on the goal management and BSC, preparation of the concept and implementation of the process organisation in the enterprise, and development and implementation of the budgeting system, and additionally development and implementation of a system of preparation and assessment of investment projects and a system of business risk identification and management, inclusion of the factory in the Special Economic Area and gaining income tax allowances till 2017, construction of a new gas-fired combined heat and power plant (PLN 170 mln) and a logistics centre (17,000 m²) being a logistics hub for the whole group for the Central and Eastern Europe. During the work of Mr. Michał Piotr Jarczyński in KOSRZYN PAPER S.A. the factory diminished its employment by 35% and simultaneously increased the production by 85%. From a company generating losses it became a plant generating several dozen million PLN of profit annually.

During the period from IV 1993 to VII 1995 and from I 1997 to X 1998 he held the position of the Vice-President - Partner in Centrum Wspierania Biznesu in Świdnica, where he co-managed the counselling and training centre funded from the funds of the European Union; realised advisory projects for companies from several industries, developed growth strategies for companies and financial analyses, lectured on the organisation and financial management for private enterprises and State Treasury companies; managed restructuring projects, advised on negotiations of large contracts with western concerns, developed and conducted seminars in Denmark for Danish companies concerning cooperation with Polish enterprises and investing in Poland; developed and managed the realisation of the project "Enterprise Development Project" within the World Bank.

From VIII 1995 to XII 1996 - Przedsiębiorstwo Kamienia Budowlanego Sp. z o.o. in Radków, where he held the position of a Member of the Board - Economic Director.

Mr. Michał Piotr Jarczyński was nominated to the Company's Board by the Minister of Ownership Transformations in order to transform the public enterprise in to a company wholly owned by the State Treasury. During 9 months he led to a capital privatisation of the first company in the rock raw materials industry; managed and was responsible for almost the whole of the Company's operations (finance, marketing, production, personnel, administration, supplementary divisions, talks to trade unions); prepared the Company's growth strategy, changes in the organisation and management and the investment programme; during the management of the Company he led to a 3-times growth in turnover and an increase in the share of export from 25 to 75%.

From I 1995 to VI 1996 - Price Waterhouse International Privatisation Group in Warsaw, where he held the position of a senior lecturer.

Mr. Michał Piotr Jarczyński conducted lectures and tutorials within finance for state companies personnel and founding bodies within the "Privatisation Initiative Support Program" funded from MPW and USAID; in 1996 he gave lectures and conducted tutorials on finance for the personnel of companies brought to National Investment Funds.

From I 1990 to III 1993 - "VEGA" Consulting Agency - Poznań of which he was the owner.

Mr. Michał Piotr Jarczyński supervised and performed ongoing operations of the company; developed technical projects, business plans, economic analyses, advised "PRECIOSA" a.s., a Czech concern. - Jablonec (one of the ten largest Czech exporters - turnover USD 150 mln annually).

The experience of Mr. Michał Piotr Jarczyński comprises also the following internships abroad: Danish Technological Insitute - Arhus - Denmark; Technological Information Centre - Slagelse - Denmark; Irish Productivity Centre - Dublin - Ireland; Swedish paper factories - Munkedal and Hafrestrom.

Additionally, Mr. Michał Piotr Jarczyński is the author of the following publications:

- "Balanced Scorecard jako element controlingu" - Controlling w praktyce (Balanced Scorecard as an element of controlling - Controlling in practise) - Katowice 2001

- Niepowodzenia w wykorzystaniu niefinansowych mierników-komentarz (Failures in using non-financial indicators - commentary) - Harvard Business Review Polish edition, August 2004.

Additionally, Mr. Michał Piotr Jarczyński was granted the award of the Minister of Industry in the competition: "Najciekawsze inicjatywy rozwoju przedsiębiorstw" (Most interesting enterprise development initiatives) in 1993.

Other public and social activities:

- President of the Association of Polish Papermakers since 2008

- Member of the Board - Confederation of European Paper Industries - Brussels - since 2010

- Chairman High Level group Forest-based Sector Technology Platform - Brussels - one of the technological platforms for innovation, affiliated by European Commission

- member of Steering Group European Innovation Partnership (EIP) on Water by Janez Potočnik, EU commissioner - European Commissioner for Environment

- Chairman of the Board of the Museum of Papermaking in Duszniki Zdrój

Mr. Michał Piotr Jarczyński has not conducted, in any form, any competitive activity towards ENEA S.A., has not participated in any competitive company as a partner of civil company, as a partner of a partnership or a member of an authority of a joint stock company and has not participated in any other competitive legal person as a member of its bodies. Mr. Michał Piotr Jarczyński is not listed in the Register of Insolvent Debtors maintained based on the act on KRS (National Court Register).