Energa S.A.

Earnings Release • Jul 29, 2022

Current Report No. 37/2022

Date: 29 July 2022

Subject: Information on impairment losses

Legal basis: Article 17 (1) of MAR - inside information

The Management Board of Energa SA informs that as part of thepreparation of the condensed interim financial statements (standaloneand consolidated) for the first half of 2022, it proved necessary tocreate:

a) an impairment loss on the subsidiary Energa Kogeneracja Sp. z o.o.("EKO") shares - in the amount of PLN 183 million,

b) the impairment losses on fixed assets of EKO (heat and power plant inElbląg, heat and power plant in Kalisz, heat plant in Żychlin) - in thetotal amount of PLN 78 million,

The above mentioned impairment losses result from the impairment testsof Energa Group's fixed assets and impairment tests on stakes insubsidiaries owned by Energa SA, which were conducted for the secondquarter of 2022 in accordance with IAS 36.

The estimated total impact of the above events on the consolidated netresult of Energa Group for the first half of 2022 is PLN -63 million,and on the standalone net result of Energa SA PLN -183 million. Theabove events are of a non-cash nature. They will decrease the netresults of Energa Group and Energa SA without affecting the EBITDAresult (operating profit before amortization and impairment ofnon-financial non-current assets).

The financial data presented are estimates and are subject to review bythe auditor, therefore they may change. The final amounts of impairmentlosses will be presented in the condensed interim consolidated financialstatements of Energa Group and in the condensed interim standalonefinancial statements of Energa SA for the first half of 2022.