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Current Report No.: 15/2018

Title: The approval by the Management Board of ENEA S.A. and by the general meeting of shareholders of Elektrownia Ostrołęka sp. z o.o. for the conclusion of the public contract awarding procedure under the name "Construction of Ostrołęka Power Plant C with approx. 1,000 MW power output"
Date: 2018.27.03
Report no.:  Current Report No.: 15/2018

Current Report No.: 15/2018

Date of preparation: 27 March 2018

Short name of Issuer: ENEA S.A.

Legal basis: Art. 17 section 1 of MAR - confidential information

Subject: The approval by the Management Board of ENEA S.A. and by the general meeting of shareholders of Elektrownia Ostrołęka sp. z o.o. for the conclusion of the public contract awarding procedure under the name "Construction of Ostrołęka Power Plant C with approx. 1,000 MW power output"

Content of report:

In relation to the Current Report No. 12/2018, the Management Board of ENEA S.A. ("Issuer") hereby informs that on 27 March 2018 it decided to vote at the general meeting of the company Elektrownia Ostrołęka sp. z o.o. ("Ordering party", "Company") in favour of granting the approval for the conclusion of the public contract awarding procedure under the name "Construction of Ostrołęka Power Plant C with approx. 1,000 MW power output" ("Procedure", "Contract") by selecting the Consortium of GE Power Sp. z o.o. and Alstom Power System S.A.S as the General Contractor, whose bid was to execute the subject matter of the Contract in compliance with the parameters set out in the offer for the amount of PLN 5,049,729,000.00 net, PLN 6,023,034,950.00 gross. The approval of the Company's general meeting of shareholders shall be granted subject to effective (i.e. indicating the absence of any premises justifying the exclusion of the contractor or the rejection of the tender thereof) submission by Consortium of GE Power Sp. z o.o. and Alstom Power System S.A.S of all the documents and representations required, pursuant to Art. 26 section 1 of 29 January 2004 Public Procurement Law (Journal of Laws of 2017, item 1579, as amended).

Moreover, the Issuer also informs that it gained knowledge of the adoption by the Company's general meeting of shareholders on 27 March 2018 of a resolution on granting the approval for the conclusion of the procedure, in accordance with the Issuer's decision referred to hereinabove.

The adoption by the Company's general meeting of shareholder of the said resolution is not equivalent to:

-the decision being taken by the Company's Management Board to select the General Contractor, hence it does not mean the conclusion of the Procedure by the Ordering Party;

-the consent given to enter into a contract with the General Contractor - in order to give such a consent it is necessary to obtain the required corporate approvals, including the consent of the Issuer's Supervisory Board;

-the agreement to issue a Notice To Proceed (NTP) - the issue of NTP requires, among others, prior consent of the Issuer's Supervisory Board and prior qualified consent of the Issuer's General Meeting to join the Construction Stage.

It is estimated that the capital expenditure related to the conclusion of the agreement between the Ordering party and the General Contractor until the NTP is issued will not exceed the equivalent of 4% of the price under the contract.

The Issuer will provide further information on the Procedure in separate current reports.

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.