Bogdanka's new Supervisory Board

The General Meeting of Shareholders of Lubelski Węgiel Bogdanka appointed a new Supervisory Board. Changes in the Board's composition result from the purchase by Enea of 64.57% of shares and holding of a total of 66% of the mine's shares. The energy concern is thus commencing taking the operating control over Bogdanka. Enea's representatives will work in the mine's Supervisory Board for a symbolic penny.

The new Board will be composed of six members, who will work in a smaller composition than before - there used to be were eight members. Enea, as the key shareholder, will be represented by five representatives:

Dalida Gepfert – Vice-President of the Board of Enea SA for financial affairs, who holds several years of experience on managerial positions within finance, accounting and controlling in the power sector, including e.g. in Vattenfall Group. She is a graduate of the accounting faculty at the University of Economics in Katowice and MBA studies organised by Stockholm University Business School.

Paweł Orlof – Vice-President of the Board of Enea SA for corporate affairs, with long experience in the power sector. He was e.g. the President of the Board of enviaM Polska and President of the Board of Elektrociepłownia Będzin S.A., listed on WSE, belonging to RWE Group. He is a graduate of the Wrocław University and the National School of Public Administration in Warsaw.

Bartosz Krysta – President of the Board of Enea Trading, a company implementing the Group's strategy on the wholesale market. He holds almost 20 years of experience in the power sector. He is a graduate of the Silesian University of Technology in Katowice and PhD of economics of the University of Economics in Katowice.

Magdalena Kaczmarek – Director of the Controlling Department in Enea SA. She holds long experience on managerial positions in controlling and accounting departments in the power and service sector. She is a graduate of the Faculty of Law of Adam Mickiewicz University in Poznań.

Krzysztof Matan – Director of the Operating Management Department of Enea SA an concurrently of the Legal Department of Enea Centrum. A legal counsel with long experience in solicitor firms. He specialised e.g. in counselling the power sector entities and corporate law. He is a graduate of the Faculty of Law and Administration of the University of Silesia in Katowice.

The Board's composition is complemented with its existing member, Michał Stopyra, technical PhD and a long member of the academic staff of the AGH University of Science and Technology in Cracow, who represents the minority shareholders. His presence in the Board is the confirmation of respecting the interests of the minority shareholders and a sign of applying good practices of listed companies.

Pursuant to the regulations adopted in Eena, its representatives in the corporate bodies hold these functions without any consideration. Bogdanka's by-laws do not allow for such a solution. Therefore, based on a resolution of the GM, members of the Supervisory Board from Eena will receive a symbolic remuneration in the amount of PLN 1. The Member of the Supervisory Board representing the minority shareholders will receive a smaller than before remuneration, limited with the so called "public sector salary cap act". The adopted solutions significantly limit the costs of the Supervisory Board's operations.

Enea became the majority shareholder of Bogdanka after the successful tender offer for 64.57% of the mine's shares. Due to that it extended the chain of values with the area of mining, increased its competitiveness and guaranteed a growth in the company's goodwill e.g. thanks to synergies resulting from fuel purchase cost optimisation.

Enea is a renown seller, distributor and producer of electricity and heat energy. Lubelski Węgiel Bogdanka, on the other hand, is the most efficient mining company in Poland. Enea is the key recipient of the mine's products, and Bogdanka is the largest fuel supplier for the core coal-based sources of power generation which Enea holds in Kozienice Power Plant. The both companies are listed in the Warsaw Stock Exchange.