C.N.T.E.E. Transelectrica

Report Publication Announcement • May 15, 2015

Current report according to the provisions of Law 297/2004,Regulation 1/2006 and BSE Code Date of the report: May 15th 2015 Name of Issuer Company: National Power Grid Co. Transelectrica SA, company managed under two-tier system Headquarters: Bucharest 1, Blvd. Magheru no.33 Working location: Bucharest 3, Str. Olteni no. 2-4 Phone/fax numbers: 021 30 35 611/021 30 35 610 Single registration code: 13328043 Number in the Commercial Register: J40/8060/2000 Share capital subscribed and paid: 733.031.420 Lei Regulated market where the issued securities are transacted: Bucharest Stock Exchange

Important event to report: Availability of the quarterly report – Q1 2015

The Power Grid Company Transelectrica SA informs the investors that the quarterly report Q1 2015 is available.

Report contents

The report includes:

• Separate Temporary Simplified Financial Statements as at and for three months interval ended 31 March 2015 elaborated in compliance with the International Accounting Standard 34 – "Interim Financial Reporting";
• financial and economical indicators related to the reporting period;
• the company's activity within the reporting period.

Attached documents: separate financial statements including separate profit and loss account, separate statement of the financial status, separate statement on equity changes and Notes to the separate financial statements.

Auditing the financial statements

The financial statements included in the Report are not audited.

Availability

The report is available beginning with May 15th 2015:

• Online on the website www.transelectrica.ro, Investor Relations and Financial Reports/ Periodical Reports/ Reports;
• At the company's working location: Olteni Street no. 2-4 , Bucharest 3.

Selected financial information:

Separate profit and loss account
For the reporting period Jan 1st - Mar 31th 2015

Separate statement of the financial status on Mar 31th 2015

Indicator	Q1 2015	Q1 2014		31.03.2015	31.12.2014
	thousand lei	thousand lei		thousand lei	thousand lei
Revenues	779,122.9	698,870.7	Total assets	5,142,145.0	5,441,386.3
Expenses*	(550,135.7)	(451,959.2)	Fixed assets	3,424,010.0	3,484,290.2
Operational profit prior depreciation (EBITDA)	228,987.2	246,911.5	Floating Assets	1,718,135.0	1,957,096.1
Expenses with depreciation	(80,118.5)	(82,072.5)
Operational profit post depreciation (EBIT)	148,869.7	164,839.0	Total equities and debts	5,142,145.0	5.441.386.3
Net financial result	1,159.0	(2,884.3)	Equities	2,940,730.3	2,813,106.3
Gross profit	150,027.7	161,954.7	Long term debts (> 1 year)	1,318,084.2	1,402,147.6
Profit tax	(23,619.7)	(25,459.4)	Short term debts
Net profit	126,408.0	136,495.3	(< 1 year)	883,330.5	1,226,132.3

*exclusively depreciation

Ion-Toni TEAU Executive Director General Directorate Chairman