Columbus Energy S.A.

Regulatory Filings • Dec 27, 2019

Sale of asset

Current report no. 28/2019 Dated December 24, 2019

The Board of Directors of Coal Energy S.A. (the "Company") hereby informs on sale of one of the assets of the Group – LLC Antratcit.

In accordance with the restructuring of the business, as stated in the report no. 17 dated 28 October, 2019 the Company sold the production asset LLC Antratcit, located in the territory, which is not controlled by the Ukrainian authorities, in the zone of military operations. Since February 2016, coal waste processing plant Prepodobnih Antoniya and Feodosiya of Kievo-Pechersk (LLC Antratcit) has been closed down and does not carry out operational activities to date due to the impossibility of carrying on business in this territory.

The Management expects this would reduce relevant losses connected with idled capacities and would have positive impact on further stabilization of financial position.

Signatures of individuals authorized to represent the Company: Elena Belousova

Legal grounds: Art.14 of the Luxembourg Law of 9 May 2006 on market abuse and Art. 56 of the Act of 29 July 2005 on the public offering, conditions governing the introduction of financial instruments to organised trading system and on public companies.