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Current report No.: 44 /2018

Title: Conclusion of the Public Procurement Agreement with the General Contractor selected in the course of the procedure conducted by the Company for awarding a sector-specific public contract under the name of "Construction of Ostrołęka Power Plant C with approx. 1,000 MW power output" through a competitive dialogue.
Date: 2018.12.07
Report no.:  Current report No.: 44 /2018

Current report No.: 44 /2018

Date of preparation: 12 July 2018

Short name of issuer: ENEA S.A.

Subject: Conclusion of the Public Procurement Agreement with the General Contractor selected in the course of the procedure conducted by the Company for awarding a sector-specific public contract under the name of "Construction of Ostrołęka Power Plant C with approx. 1,000 MW power output" through a competitive dialogue.

Legal basis: Art. 17 item 1 of Market Abuse Regulation - confidential information

Content of report:

In relation to Current Report No. 43/2018 of 6 July 2018 and all previous reports concerning the procedure for awarding a sector-specific public contract under the name of "Construction of Ostrołęka Power Plant C with approx. 1,000 MW power output" ("Contract") through a competitive dialogue, the Management Board of ENEA SA ("Issuer") hereby informs that on 12 July 2018 it was notified of the conclusion by Elektrownia Ostrołęka Sp. z o.o. ("Company") on that same day of a Public Procurement Agreement ("Agreement") with the General Contractor - the Consortium of GE Power sp. z o.o. (Leader of the Consortium) and Alstom Power Systems S.A.S. selected in the course of the procedure conducted by the Company for awarding the Contract.

The subject of the Agreement is the design, construction and commissioning of a power unit with auxiliary installations, equipped with a dust flow boiler fired with bituminous coal, with a fresh steam pressure of 271 MPa, a closed cooling system, with a gross power output of 1,000 MWe (931 MWe net) and net efficiency of 46%, working under supercritical steam parameters, with a fresh steam temperature of 600 degrees C and a reheated steam temperature of 620 degrees C ("Investment").

Pursuant to the concluded Agreement, for the execution of the subject of the Agreement the General Contractor shall be paid a remuneration of PLN 5,049,729,000.00 net, PLN 6,023,034,950.00 gross.

The Agreement provides for contractual penalties for the General Contractor, i.a. for delays in the execution of the subject of the Agreement or for failure to achieve or to maintain the so-called guaranteed technical parameters of the Investment.

The conclusion of the Agreement is not tantamount to granting a consent to issue a Notice to Proceed (NTP) - the issuance of NTP requires, among others, a prior approval of the Issuer's Supervisory Board in this matter and a prior qualified consent of the Issuer's General Meeting to commence the Construction Stage.

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.