Current Report No.: 9/2025

Current Report No.: 9/2025

Date of Preparation: 20 February 2025

Issuer's Abbreviated Name: Enea S.A.

Subject: Information on the intention to include non-recurring operations of an accounting nature in the financial statements for 2024

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

Body of the report:

The Management Board of Enea S.A. ("Company", "Issuer") hereby reports that in connection with the preparation of (standalone and consolidated) financial statements for 2024, as a result of asset impairment tests, on 20 February 2025, the Company has identified the need to recognize impairment losses on the following items:

- value of shares held by the Company in Enea Elektrownia Połaniec S.A. in the amount of approx. PLN 129 million,

- value of shares in other generation companies in the amount of approx. PLN 83 million,

in the standalone financial statements for 2024 as well as impairment losses on the generation assets of the following subsidiaries:

- Enea Wytwarzanie sp. z o.o. in the amount of approx. PLN 954 million,

- Enea Elektrownia Połaniec S.A. in the amount of approx. PLN 212 million,

- other generation companies in the amount of approx. PLN 38 million,

in the consolidated financial statements of the Enea Group for 2024.

Moreover, the Issuer hereby reports that it has measured the fair value of property, plant and equipment in the generation segment. The need has been identified to recognize an additional impairment loss on property, plant and equipment in the amount of approx. PLN 999 million in the consolidated financial statements of the Enea Group for 2024.

These events will affect the standalone financial statements of the Issuer by reducing the Company's pre-tax profit and net profit for the reporting period by approx. PLN 212 million.

These events will affect the consolidated financial statements of the Enea Group by reducing the Enea Group's pre-tax profit by approx. PLN 2,204 million and net profit for the reporting period by approx. PLN 2,014 million.

The Issuer also reports that a need has been identified to increase the provision for onerous contracts in the trading segment by approx. PLN 248 million in the standalone financial statements for 2024 and by approx. PLN 255 million in the consolidated financial statements of the Enea Group for 2024. The increase in the provision is aimed at reflecting the impact of anticipated future losses to be incurred in connection with the performance of comprehensive contracts entered into with prosumers whose micro-installations were connected to the grid by 31 March 2022.

This event will affect the standalone financial statements of Enea S.A. for 2024 by reducing the Company's EBITDA and pre-tax profit by approx. PLN 248 million and net profit for reporting period by approx. PLN 201 million.

This event will affect the consolidated financial statements of the Enea Group for 2024 by reducing EBITDA and pre-tax profit by approx. PLN 255 million and net profit for the reporting period by approx. PLN 207 million.

Moreover, in accordance with IAS 12 "Income Taxes," the Issuer has identified the need to recognize a deferred tax asset impairment loss of approximately PLN 738 million in the consolidated financial statements of the Enea Group for 2024. The deferred tax asset impairment loss is a consequence of the weaker projected financial performance of coal-based generation activities, translating into a reduction in the projected tax base and, as a consequence, a lower utilization of the deferred tax asset.

This event will affect the consolidated financial statements of the Enea Group for 2024 by reducing net profit for the reporting period by approx. PLN 738 million.

All the events described above are of a non-cash nature. Combined, these events will affect the standalone financial statements of Enea S.A. for 2024 by reducing EBITDA by approx. PLN 248 million, pre-tax profit by approx. PLN 460 million and the Company's net profit for the reporting period by approx. PLN 413 million and the consolidated financial statements of the Enea Group for 2024 by reducing EBITDA by approx. PLN 255 million, pre-tax profit by approx. PLN 2,459 million and net profit for the reporting period by approx. PLN 2,959 million.

Please be advised that the foregoing figures are estimates and as such are subject to change. Their final value will be presented in the periodic reports of the Company and the Enea Group for 2024.

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).