C.N.T.E.E. Transelectrica

Earnings Release • Feb 16, 2015

Current report according to the Regulation 1/2006 of the National Securities Commission and to the Bucharest Stock Exchange Code

Report date: February 16th, 2015

Name of the issuing entity: CNTEE TRANSELECTRICA SA, Company with a dualist management system Registered office: Bucharest, 33 Gheorghe Magheru Blvd., 1st District Business unit: Bucharest, 2-4 Olteni Street, 3rd District Telephone no. /fax: 021 30 35 611/021 30 35 610 Sole Registration Code: 13328043 Entry with the Trade Registry no.: J40/8060/2000 Subscribed and paid up share capital: Lei 733,031,420 Regulated market on which the securities issued are traded: Bucharest Stock Exchange

Important event to be reported: Preliminary annual results - 2014

The Romanian Power Grid Company "Transelectrica" SA informs the investors on the availability of the Preliminary Annual Results - 2014.

Report contents: Preliminary non-consolidated financial statements of the Company drawn up in compliance with the International Financial Reporting Standards – "IFRS" over the period January 1st – December 31st 2014; Availability

The Report is available starting from February 17th 2014 as follows:

• online, on the website www.transelectrica.ro, Investors;
• at the Company's headquarters str. Olteni nr. 2 4, sector 3, București.

Independent profit and loss account as of 12.31.2014			Independent statement on the financial status as of 12.31.2014
[thou Lei]	12.31.2014	12.31.2013	[thou Lei]	12.31.2014	12.31.2013
Incomes Expenses* Operational profit prior depreciation (EBITDA)	2.817.543,4 (2.030.179,7) 787.363,7	2.472.315,8 (2.888.151,4) 584.164,3	Total Assets Intangible assets Floating assets	5.463.436,1 3.487.537,7 1.975.898,4	5.152.703,8 3.670.673,5 1.482.030,3
Depreciation expenses	(332.861,2)	(335.141,9)	otal Total Equities and debts	5.463.436,1	5.152.703,8
Operational profit post depreciation (EBIT)	456.502,5	249.022,4	Equity Long term debts (> 1year)	2.826.065,3 1.401.148,3	2.613.897,1 1.546.817,2
Net financial result	(8.460,2)	(9.270,6)	Short term debts (< 1 year)	1.236.222,5	991.989,5
Gross profit	446.042,3	239.751,8
Profit tax	(76.024,7)	(38.823,9)
Net profit	370.017,6	200.927,9

Independent statement on the financial status

* depreciation exclusively

Contact detals: relatii.investitori@transelectrica.ro

Ion-Toni TEAU, Chief Executive Officer

LANGUAGE DISCLAIMER: This document represents the English version of the original official Romanian document filed with the Romanian National Securities Commission CNVM. The English version has been created for English readers' convenience. Reasonable efforts have been made to provide an accurate translation, however, discrepancies may occur. The Romanian version of this document is the original official document. Any discrepancies or differences created in the translation are not binding. If any questions arise related to the accuracy of the information contained in the English version, please refer to the Romanian version of the document which is the official version.