Energa S.A.

Report Publication Announcement • Jan 22, 2018

Current Report No. 5/2018

Date of Preparation: 22 January 2018

Subject: ENERGA Group's estimated financial results for Q4 2017 and for2017

Legal Basis: Article 17 Section 1 of the Market Abuse Regulation -confidential information

The Management Board of ENERGA SA hereby reports preliminary estimatesof the Company's selected financial and operating data for Q4 2017 andfor 2017.

Financial and operating results for Q4 2017:

Group EBITDA: PLN 525 m, including:

Distribution Segment's EBITDA: PLN 382 m,

Generation Segment's EBITDA: PLN 139 m,

Sales Segment's EBITDA: PLN 61 m.

Gross production of electricity: 1,161 GWh,

Distribution of electricity: 5,603 GWh,

Sales of electricity (retail): 5,382 GWh.

Financial and operating results for 2017:

Group EBITDA: PLN 2,168 m, including:

Distribution Segment's EBITDA: PLN 1,723 m,

Generation Segment's EBITDA: PLN 406 m,

Sales Segment's EBITDA: PLN 85 m.

Gross production of electricity: 4,281 GWh,

Distribution of electricity: 22,068 GWh,

Sales of electricity (retail): 20,615 GWh.

The presented values are estimates and as such are subject to change.EBITDA for 2017 does not include the impact of the profit from bargainpurchase of Polimex-Mostostal shares in the amount of PLN 50 m, capturedas at 30 June 2017. Based on the final report on settlement of the sharepurchase transaction, the bargain profit was withdrawn in December 2017and thus the EBITDA result for Q4 2017 decreased.

Earlier application of the provisions of IFRS 9, introducing amendmentsto the impairment loss recognition methodology for disputablereceivables, necessitated partial reversal of earlier losses, whichimproved the EBITDA in the Distribution Segment by PLN 16.1 m and in theSales Segment by PLN 43.8 m.