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Current Report No.: 4/2022

Title: Submission of an application for the subscription for the Company's shares by the State Treasury via the Reprivatization Fund
Date: 2022.21.01
Report no.:  Current Report No.: 4/2022

Current Report No.: 4/2022

Date of Preparation: 21 January 2022

Issuer's Abbreviated Name: ENEA S.A.

Legal Basis: Article 17(1) of the Market Abuse Regulation - confidential information

Subject: Submission of an application for the subscription for the Company's shares by the State Treasury via the Reprivatization Fund

Body of the report:

With reference to Current Reports Nos. 1/2022, 2/2022 and 3/2022, the Management Board of ENEA S.A. ("Company", "Issuer") hereby reports that earlier today the Issuer submitted an application to the Prime Minister for the State Treasury to subscribe for the Company's series D shares ("Series D Shares") for a total amount not greater than PLN 899,659,967.85, in exchange for a cash contribution from the reprivatization fund referred to in Article 56(1) of the Act of 30 August 1996 on Commercialization and Certain Employee Rights ("Application"). The Company has applied to the State Treasury to subscribe for no fewer 45,470,725 (i.e. the number of Series D Shares reflecting the State Treasury's current stake in the total number of the Company's shares) and no more than 88,288,515 Series D Shares (i.e. the maximum number of Series D Shares issued). The final number of Series D Shares which, if the Application is approved, will be subscribed for by the State Treasury will depend on the demand for the Series D Shares reported by other authorized investors in the book-building process on the terms set forth in the resolution to increase the Company's share capital through the issue of the Series D Shares.

The Application was submitted under the Regulation of the Minister of Finance of 23 December 2021 on the Detailed Procedure for the Acquisition or Subscription for Shares by the State Treasury via the Reprivatization Fund in 2021-2022.

The newly issued Series D Shares will account for less than 20% of the Company's shares admitted to trading on a regulated market. The purpose of the issue of the Series D Shares is to raise funds for the execution of investment projects in the Distribution Area of the ENEA Group (including the extension and modernization of high and medium-voltage networks, the installation of remote reading meters and the connection of new customers to the network), to be executed by ENEA Operator sp. z o.o., without the possibility of funding any coal-fired assets. The execution of such investment projects is consistent with the assumptions of the ENEA Group Strategy and aims to ensure energy security and the continuous and reliable electricity supply in the territory covered by the operation of ENEA Operator sp. z o.o.

If a decision is made to subscribe for the Company's shares in accordance with the Application, the Prime Minister, representing the State Treasury, and the Company will enter into an investment agreement regulating, among other issues, the rules governing the Company's disposal of funds obtained from the State Treasury.

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.