Energa S.A.

M&A Activity • Jan 17, 2017

Current Report No.: 3/2017

Date of preparation: 17 January 2017

Subject: Decision of the President of UOKiK approving concentration

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

In reference to current report no. 49/2016 of 8 December 2016, theManagement Board or ENERGA SA ("Company") hereby reports that today itlearned that the President of the Office of Competition and ConsumerProtection issued a decision of 11 January 2017 containing anunconditional approval for the concentration involving the acquisitionof 50% of shares of the special-purpose vehicle Elektrownia Ostrołęka SAin Ostrołęka by Enea S.A., with the purpose of executing the project ofpreparation, construction and operation of a 1,000 MW class coal-firedpower unit.

Accordingly, the Company reports that the sole condition precedent forthe Investment Agreement of 8 December 2016 with Enea S.A. andElektrownia Ostrołęka SA has been fulfilled.