espi gpw ENEA 2021-07-23 14:42

Current Report No.: 24/2021

Date of Preparation: 23 July 2021

Issuer’s Abbreviated Name: ENEA S.A.

Subject: Execution of a memorandum of understanding on cooperation in a spin-off of coal assets and their integration within the National Energy Security Agency

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

Body of the report:

The Management Board of ENEA S.A. („ENEA”) hereby reports that, on 23 July 2021, ENEA, PGE Polska Grupa Energetyczna S.A., TAURON Polska Energia S.A., Energa S.A. (jointly: “Utility Companies”) and the State Treasury (jointly referred to as the “Parties”) entered into a memorandum of understanding on cooperation in a spin-off of coal assets and their integration within the National Energy Security Agency (“Memorandum of Understanding”).

In a document entitled “Transformation of the power sector in Poland. Spin-off of coal assets from companies with a State Treasury shareholding” (“Transformation”), published by the Ministry of State Assets, a concept has been developed to spin off, from the corporate groups of each Utility Company, assets associated with the generation of electricity in conventional coal-fired units (“Coal Assets”). The objectives of the Transformation envisage, among other outcomes, the integration of the Coal Assets within a single entity, specifically PGE Górnictwo i Energetyka Konwencjonalna S.A., which is a subsidiary of PGE Polska Grupa Energetyczna S.A. and will ultimately run its business under the name of Narodowa Agencja Bezpieczeństwa Energetycznego (“NABE”, National Energy Security Agency).

Keeping the foregoing in mind, the Parties to the Memorandum of Understanding recognize the need to coordinate their cooperation in the spin-off process of the Coal Assets and their integration in NABE. Under the Memorandum of Understanding, the Parties declare their mutual exchange of necessary information, including information on the organizational structures, processes and objectives for the direction of the Transformation, to the extent such exchange remains in compliance with the applicable laws. The Memorandum of Understanding will enable an efficient and effective execution of the process aimed at the establishment of NABE.