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Current Report No.: 30/2014

Title: Conclusion of the Shareholder Agreement within the project of development and construction of the atomic power plant
Date: 2014.03.09
Report no.:  Current Report No.: 30/2014

Current Report No.: 30/2014

Date of preparation: 03.09.2014

Short name of issuer: ENEA S.A.

Subject: Conclusion of the Shareholder Agreement within the project of development and construction of the atomic power plant

Legal basis: Article 56 item 5 of the Act on Offerings - information update

Content of report:

In relation to the current report No. 39/2013 of 31 December 2013 regarding continuation of works in the project of development and construction of the atomic power plant in Poland the Board of ENEA S.A. informs that on 3 September 2014 ENEA S.A., Polska Grupa Energetyczna S.A. ("PGE"), TAURON Polska Energia S.A. and KGHM Polska Miedź S.A. concluded the Shareholder Agreement pursuant to which ENEA S.A., TAURON Polska Energia S.A. and KGHM Polska Miedź S.A., as Business Partners, will purchase from PGE, based on a separate agreement, a total of 30% shares (10% shares for each of the Business Partners) in the special purpose vehicle - PGE EJ 1 Sp. z o.o., which is responsible for the preparation and implementation of the investment consisting in the construction and operation of the first in Poland atomic power plant with the capacity of ca. 3,000 MWe ("Project"). Pursuant to the strategy, PGE Group will be the Project leader, and PGE EJ1 Sp. z o.o. is to be the power plant operator in the future. The condition for purchasing the shares in PGE EJ1 Sp. z o.o. by Business Partners is obtaining an approval for the concentration issued by the President of the Office for Competition and Consumer Protection. The motion within this scope was filed by the parties to the Shareholder Agreement on 1 August 2014.

Pursuant to the Shareholder Agreement, the parties undertake to finance, jointly and proportionate to the shares they hold, the operations performed during 2014-2016 as a preliminary stage of the Project ("Preliminary Stage"). The Preliminary Stage is to specify such elements as potential partners, including the strategic partner, technology providers, EPC providers (Engineering, Procurement, Construction), suppliers of the atomic fuel and obtaining financing for the Project, and also competence and organisational preparation of PGE EJ1 Sp. z o.o. to act as a future operator of the atomic power plant, responsible for its safe and efficient operation ("Integrated Proceedings"). Pursuant to the Shareholder Agreement, the financial commitment of ENEA S.A. at the Preliminary Stage will not exceed the amount of ca. PLN 107 mln and is to involve making contributions, up to this amount, for the raised share capital of PGE EJ1 Sp. z o.o.

The parties to the Shareholder Agreement anticipate that the decisions relating to the Project, including the decision on the declaration of further participation of particular Parties (including ENEA S.A.) in another stage of the Project, will be taken after the completion of the Preliminary stage directly before the resolving of the Integrated Proceedings.

Having in mind the diverse and international nature of Enea SA's shareholding, and also the provisions of the Best Practices of WSE Listed Companies, Enea SA guarantees the availability of its website also in English. In case of any interpretation doubts and discrepancies between the Polish and English versions, the Polish version shall prevail.