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Current Report No.: 7/2022

Title: Termination of the capacity contract with Elektrownia Ostrołęka Sp. z o.o.
Date: 2022.31.01
Report no.:  Current Report No.: 7/2022

Current Report No.: 7/2022

Date of Preparation: 31 January 2022

Issuer's Abbreviated Name: ENEA S.A.

Subject: Termination of the capacity contract with Elektrownia Ostrołęka Sp. z o.o.

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

Body of the report:

The Management Board of ENEA S.A. ("Issuer") hereby reports that on 31 January 2022 it obtained information from Elektrownia Ostrołęka Sp. z o.o. ("Company") about the Company's termination, on the same date, of the contract implementing the capacity obligation contracted by the Company as a result of the outcome of the capacity market auction for 2023 ("Contract"), reported on by the Issuer in Current Report No. 66/2018.

Pursuant to the provisions of Article 47b(3) of the Capacity Market Act of 8 December 2017 ("Act"), a capacity contract is terminated upon indication to the operator - Polskie Sieci Elektroenergetyczne S.A. ("PSE") - of capacity contracts fulfilling the criteria provided for in the Act.

Earlier today, the Company indicated to PSE two capacity contracts that fulfill the criteria provided for in the Act, executed by CCGT Ostrołęka Sp. z o.o. and CCGT Grudziądz Sp. z o.o. as the contracts referred to in Article 47b(3)(1) and (2) of the Act.

The indication of the said capacity contracts has triggered the release of the financial security provided by the Company in the amount of PLN 36,6 million and the annulment of contractual penalties if they become due. At the same time, the Issuer hereby reports that as at the date of termination of the Contract, no contractual penalties were charged thereunder and the Issuer did not establish any provisions for the potential charging of such penalties.

The termination of the Contract is a consequence of changing the plant fuel from coal to gas in the project aimed at the construction and operation of a new power plant in Ostrołęka.

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.