Current Report No.: 31/2025

Current Report No.: 31/2025

Date of Preparation: 26 August 2025

Issuer's Abbreviated Name: Enea S.A.

Subject: Information on preliminary financial and operating results for H1 2025 and Q2 2025

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

Body of the report:

In connection with the adoption, on 26 August 2025, by the Management Board of Enea S.A. ("Company"), of information on preliminary financial and operating results of the Enea Group for the first half of 2025 and the second quarter of 2025, the Company hereby publishes the said preliminary results.

Consolidated financial results of the Enea Group for H1 2025:

- Revenue from sales and other income: PLN 14,095 million,

- EBITDA: PLN 3,387 million,

- Profit before tax: PLN 2,492 million,

- Net profit for the reporting period: PLN 2,023 million,

- Net profit attributable to shareholders of the parent company: PLN 1,925 million,

- Capital expenditures on property, plant and equipment and intangible assets: PLN 3,432 million,

- Net debt / LTM EBITDA ratio: 0.08.

EBITDA in the distinct operating areas:

- Mining: PLN 411 million,

- Generation: PLN 1,003 million,

- Distribution: PLN 1,398 million,

- Trading: PLN 417 million.

Selected operating highlights:

- Net coal production: 3.9 million tons,

- Total net electricity generation: 10.2 TWh,

of which: 0.8 TWh from biomass and 0.2 TWh from RES,

- Sales of distribution services to end users: 10.0 TWh,

- Sales of electricity and gaseous fuel to retail customers: 12.0 TWh.

Consolidated financial results of the Enea Group for Q2 2025:

- Revenue from sales and other income: PLN 6,505 million,

- EBITDA: PLN 1,446 million,

- Profit before tax: PLN 1,065 million,

- Net profit for the reporting period: PLN 868 million,

- Net profit attributable to shareholders of the parent company: PLN 874 million,

- Capital expenditures on property, plant and equipment and intangible assets: PLN 2,800 million,

- Net debt / LTM EBITDA ratio: 0.08.

EBITDA in the distinct operating areas:

- Mining: PLN 22 million,

- Generation: PLN 453 million,

- Distribution: PLN 654 million,

- Trading: PLN 203 million.

Selected operating highlights:

- Net coal production: 1.2 million tons,

- Total net electricity generation: 4.2 TWh,

of which: 0.4 TWh from biomass and 0.1 TWh from RES,

- Sales of distribution services to end users: 4.9 TWh,

- Sales of electricity and gaseous fuel to retail customers: 5.8 TWh.

EBITDA generated by the Enea Group in Q2 2025 was driven by the following factors (as compared to Q2 2024):

- The lower EBITDA in the Mining Area resulted from a decrease in revenue from sales of coal. Along with a lower coal sales volume, a lower sales price was realized. At the same time, operating expenses declined.

- In the Generation Area, a lower EBITDA was posted. The System Power Plants Segment saw a decrease in EBITDA, largely as a consequence of a decline in the concession result on electricity generation, a lower margin on electricity trading and higher revenue from the Capacity and Balancing Market. The RES Segment saw a decrease in EBITDA due to the realization of a lower margin on the Green Unit (mainly as a result of lower electricity prices, with a decrease in the unit cost of biomass). The Heat Segment saw an improvement in EBITDA, driven by an increase in the unit margin (mainly due to a decrease in unit fuel costs).

- In the Distribution Area, the improvement in EBITDA was driven by the higher margin realized on the concession business. In parallel, operating expenses went up.

- In the Trading Area, the higher EBITDA was mainly due to an increase in the margin on the retail market. At the same time, there was a decline in recognized compensation income.

On account of the application of settlements with eligible offtakers pursuant to the Act of 7 October 2022 on Special Solutions to Protect Electricity Offtakers in 2023 and 2024 in Connection with the Situation on the Electricity Market and on account of the application of the maximum price in accordance with the Act of 27 October 2022 on Emergency Measures to Reduce Electricity Prices and Support Certain Consumers in 2024, Enea recognized in H1 2025 compensation revenues in the total amount of PLN 320 million and in Q2 2025 in the total amount of PLN 151 million.

Please be advised that the foregoing figures are estimates and as such are subject to change, and that their final values will be presented in the Enea Group's periodic report for H1 2025.

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 / LTM EBITDA ratio is equal to (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 current investments) / LTM EBITDA. LTM EBITDA means EBITDA for the last 12 months.