Columbus Energy S.A.

M&A Activity • Jun 27, 2019

Details on sale of LLC "Toretsk Coal Mining Company"

Current report no. 11/2019 Dated 27 June, 2019

The Board of Directors of Coal Energy S.A. (the "Company") provides additional information about sale of LLC "Toretsk Coal Mining Company".

LLC Toretsk Coal Mining Company was incorporated by separation from CwAL LE "Mine St. Matrona Moskovskaya" at the same time, it is not a coal-mining asset; it has no fixed assets on its balance; does not hold a license for coal reserves and does not conduct mining activity.

Sale of the asset was performed within the framework of the optimization of the Group's business structure with the aim of clearing the balance and does not have an impact on the financial or operating position of the Group.

Coal mining is still carried out on two assets of the group: Mine St.Matrona Moskovskaya and Svyato-Pokrovskaya Mine.

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.