Columbus Energy S.A.

M&A Activity • May 25, 2018

Cancellation of changes in the structure within the Group

Current report no. 9/2018 Dated May 25, 2018

The Board of Directors of Coal Energy S.A. (the "Company") informs about cancellation of changes in the ownership structure among the subsidiaries within the Group.

With reference to report no. 8/2018 dated 23 May 2018 the Company informs that the deal on selling 92.0%of the total votes of LLC Tekhinovatsiya to LLC Coal Energy Ukraine (subsidiary of the Group) has been cancelled due to technical reasons.

Thus changes in the structure of ownership within the Group related to this deal were cancelled.

Signatures of individual authorised to represent the Company: Elena Belousova

Legal grounds: Art. 56 of the Polish 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.