Current Report No.: 52/2015

Title: Maintaining of the rating for Enea S.A. by Fitch Ratings
Date: 2015.30.10
Report no.:  Current Report No.: 52/2015

Current Report No.: 52/2015

Date of preparation: 30.10.2015

Short name of issuer: Enea S.A.

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

Subject: Maintaining of the rating for Enea S.A. by Fitch Ratings

Content of report:

The Management Board of Enea S.A. ("Company", "Issuer") informs that in the communication issued on 29 October 2015 Fitch Ratings agency ("Agency") affirmed the "BBB" long-term ratings for the Company in foreign and local currency and the long-term national rating at "A(pol)". The outlook of the ratings is stable. The Issuer reminds that the Agency has been affirming the ratings for the Company on the above mentioned level since 2011.

As justified by the Agency, the affirmation reflects the expectation that Enea S.A's credit metrics will remain within guidance for the rating, despite the Company's acquisition of a 64.57% stake in coal mining company Lubelski Wegiel Bogdanka S.A. ("Bogdanka") for PLN 1.48 bn (EUR 0.35 bn), and lower expected WACC in electricity distribution from 2016 negatively affecting Enea's profitability.

Additional information, including ratings definitions applied by the Agency and principles of their application, criteria and methods used, limitations and exclusions of responsibility and documents concerning policies and procedures used are available on the Agency's website

The content of the Agency's communication is attached by the Company to this current report.

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.