Columbus Energy S.A.

M&A Activity • Dec 9, 2020

Sale of the assets as part of business restructuring

Current report no. 8/2020 Dated 8th December, 2020

The Board of Directors of Coal Energy S.A. (the "Company") hereby informs about sale of the assets of the Group.

As stated in the report no. 17 dated 28 October, 2019 assets of the Company located in the territory which is not controlled by the Ukrainian authorities were idled and have not been working since 2017, the Company lost control over these enterprises and in this regard Management took the decision to alienate assets located in the military conflict zone.

As part of business restructuring on 7th and 8th December 2020 the Company sold the following assets: LLC Donprombiznes, LLC Eximenergo, LLC Donugletekhinvest, LLC Coal Energy Ukraine, LLC Ugledobycha, LLC Donantracit located in the territory, which is not controlled by the Ukrainian authorities, in the military conflict zone.

The Management expects this would reduce relevant losses connected with idled capacities and would have positive impact on further stabilization of financial position.

Information about these transactions will be presented in the next financial statements.

The Company will properly inform the capital market participants about finalization of the restructuring process.

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.