Energa S.A.

Report Publication Announcement • Sep 19, 2016

Current report no.: 33/2016

Preparation Date: 19.09.2016

Subject: Signing a Letter of Intent with Enea S.A. on building andoperating a power unit at the Ostrołęka Power Plant

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

The Management Board of ENERGA SA (Company, Energa) hereby reports thaton 19 September 2016, the Company signed a Letter of Intent to launchcooperation in respect to preparation, execution and operation acontemporary 1,000 MW class coal unit at the Ostrołęka Power Plant(Investment Project, Ostrołęka C).

The Parties intend to work together to develop an efficient businessmodel for Ostrołęka C, review its project documentation and optimizetechnical and economic parameters of the new unit. The cooperation alsoinvolves development of documents required to launch a tender procedureand to select the general contractor for the Investment Project.

The Parties have agreed that the execution of the Investment Projectwill have a positive effect on Poland's energy security, will meet thehighest environmental standards and will ensure another stable,highly-efficient and low-emission energy source in the NationalElectrical Power System.

The Parties assume that the rules of cooperation adopted after signingthe letter of intent should contribute to the ultimate decision toannounce the tender in 2016 in order to complete the Investment Projectin the second part of 2023. Potential expenditures are estimated atabout PLN 5.5-6 million per MW. The Parties do not rule outparticipation of other partners in the Investment Project. Any furtherparameters and the scale of involvement of each Party will be subject tofurther analyses.