Columbus Energy S.A.

Major Shareholding Notification • May 23, 2018

Changes in the structure within the Group

Current report no. 8/2018 Dated May 23, 2018

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

LLC Nedra Donbassa, which owns 92.0% of the total votes of LLC Tekhinovatsiya sold its stake in favour of LLC Coal Energy Ukraine. The deal was closed on 22nd May 2018.

After the changes the structure of ownership is the following: LLC Coal Energy Ukraine holds 92.0%, Nertera Investments Limited holds 7.92% and LLC Donprombiznes holds 0.08% of the total votes of LLC Tekhinovatsiya.

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.