Coal Energy S.A.

Regulatory Filings • Nov 11, 2021

Restatement of the unaudited non-consolidated annual financial report for FY2021

Current report no. 12/2021 Dated November 11/ 2021

The Board of Directors of Coal Energy S.A. (the "Company") hereby provides restated unaudited nonconsolidated annual financial report for FY2021 due to the correction of the accounting mistake spotted in the unaudited non-consolidated annual financial report for FY2021 published on 29 October 2021.

The following was not considered in the published report:

• Accrual of interest on the EBRD loan;

• offsetting mutual requirements between COAL ENERGY S.A. and LLC Nertera Investments Limited As a result, additional financial costs in the amount of \$ 4.3 million were charged.

Also, income for the 2019 FY in the amount of US\$ 0.23 million was added.

As a result, the profit has changed by 4.3-0.23 = US\$ 4.07 million: from 2 289 604,12 to (1 777 471,31) US dollars.

The Company is attaching to this current report the file with corrected unaudited non-consolidated annual financial report for FY2021. The restated report also will be available on the Company's website in Investor Relations section.

Signatures of individuals authorized to represent the Company: Elena Belousova

Legal grounds: Art. 56 of the Act of 29 July 2005 on the public offering, conditions governing the introduction of financial instruments to organized trading system and on public companies and the Luxembourg Act of 11 January 2008 on transparency obligations of securities issuers, as amended.