Current Report No.: 54/2015

Title: Information on intergroup transactions between Enea Wytwarzanie Sp. z o.o. and Enea Trading Sp. z o.o.
Date: 2015.23.11
Report no.:  Current Report No.: 54/2015

Current Report No.: 54/2015

Date of preparation: 23.11.2015

Short name of issuer: Enea S.A.

Subject: Information on intergroup transactions between Enea Wytwarzanie Sp. z o.o. and Enea Trading Sp. z o.o.

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

Content of report:

The Management Board of Enea S.A. (Issuer) informs that in relation to the settlement on 23 November 2015 of another transaction between Enea Wytwarzanie Sp. z o.o. (Enea Wytwarzanie), and Enea Trading Sp. z o.o. (Enea Trading) the total value of intergroup transactions concluded between the above mentioned entities from 12 May 2015, i.e. from the date of publication of the current report No. 13/2015 amounted to PLN 1,243.9 mln. The aforementioned amount includes transactions within electricity trading.

The transactions of the highest value being components of the above mentioned turnover between Enea Wytwarzanie and Enea Trading is a block of transactions settled on 10 August 2015 totalling to PLN 92.9 mln. The transactions mentioned above included sales of electricity based on detailed designs and their updates and were based on the volume of electricity which was reported and which is received by the operator of the power system in a given settlement period. The transactions mentioned above will be realised in 2016. The parties cannot claim contractual penalties as regards the transactions mentioned above. On failure to perform or improper performance of the transaction its parties have the right to claim damages under the general terms.

The aforementioned total value of the intergroup transactions exceeds the threshold of 10% of the Issuer's equity which is the criterion for recognising agreements as significant.

The rules being in force for performing and settlement of transactions between Enea Trading and Enea Wytwarzanie are valid until 30 January 2019 and will be automatically prolonged for an indefinite period, unless any party, within six months the latest before the expiry of the aforementioned term, files a written notice to the other party concerning the termination of the said rules. At the same time, the Issuer informs that the above transactions were concluded within regular operations of Enea Capital Group companies and due to exclusions from the consolidation they have no impact on the consolidated results of Enea Capital Group.

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.