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Current Report No.: 30/2022

Title: Information on preliminary financial and operating results for Q1 2022
Date: 2022.10.05
Report no.:  Current Report No.: 30/2022

Current Report No.: 30/2022

Date of Preparation: 10 May 2022

Issuer's Abbreviated Name: ENEA S.A.

Subject: Information on preliminary financial and operating results for Q1 2022

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

Body of the report:

On 10 May 2022, the Management Board of ENEA S.A. ("Company", "Issuer") adopted information on preliminary financial and operating results of the ENEA Group ("ENEA Group") for Q1 2022; in connection with the above, the Company hereby publishes the said preliminary results.

Consolidated financial results of the ENEA Group for Q1 2022:

- Revenue from sales and other income: PLN 7,246 million,

- EBITDA: PLN 1,059 million,

- Profit before tax: PLN 659 million,

- Net profit for the reporting period: PLN 548 million,

- Net profit attributable to shareholders of the parent company: PLN 495 million,

- Capital expenditures on property, plant and equipment and intangible assets: PLN 442 million,

- Net debt / EBITDA ratio: 0.72.

EBITDA in the distinct operating areas:

- Mining: PLN 274 million,

- Generation: PLN 620 million,

- Distribution: PLN 311 million,

- Trading: PLN -86 million.

Selected operating highlights:

- Net coal production: 2.8 million tons,

- Total net electricity generation: 6.5 TWh,

- Sales of distribution services to end users: 5.3 TWh,

- Sales of electricity and gaseous fuel to retail customers: 6.2 TWh.

The EBITDA result generated by the ENEA Group in Q1 2022 was driven by the following factors (compared to Q1 2021):

In the Mining Area, the higher EBITDA was driven mainly by the higher sales of coal, partially offset by increased costs of operating activities.

In the Generation Area, an increase in EBITDA was recorded in each business segment, especially in the System Power Plants Segment, driven by the higher margin on generation with the concurrent lower margin on trading and the Balancing Market.

In the Distribution Area, the decrease in EBITDA was caused by lower margins on licensed activities, greater operating expenses and a lower result on other operating activities.

In the Trading Area, the decline in EBITDA is mainly due to lower realized margins on the retail market and the change in provisions related to onerous contracts, partially offset by the improved result on remeasurement of CO2 contracts.

Standalone financial results of ENEA S.A. for Q1 2022:

- Revenue from sales and other income: PLN 2 882 million,

- EBITDA: PLN -154 million,

- Loss before tax: PLN -110 million,

- Net loss in the reporting period: PLN -83 million.

The final results will be presented in the periodic report of the ENEA Group for Q1 2022 scheduled to be published on 24 May 2022.

Please note that the term EBITDA is defined as the value of operating profit (loss) + depreciation and amortization + impairment losses on non-financial non-current assets (values for the reporting period). The Net debt / EBITDA ratio is (loans, borrowings and non-current and current debt securities + non-current and current finance lease liabilities + non-current and current financial liabilities measured at fair value - cash and cash equivalents - non-current and current financial assets measured at fair value - non-current and current debt financial assets measured at amortized cost - other short-term investments) / EBITDA LTM. EBITDA LTM means EBITDA for the last twelve months.

The above definitions and calculation methodologies are the same as those used to calculate these ratios in the Issuer's periodic reports. The definitions of these terms are also included in the glossary of terms and abbreviations available on the Company's website (https://ir.enea.pl/slownik).

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.