Enea S.A. — Audit Report / Information 2016

Aug 26, 2016

KPMG Audyt Spółka z ograniczona odpowiedzialnością sp.k. Biuro w Poznaniu ul. Roosevelta 18 60-829 Poznań Poland

Telefon +48 61 845 46 00 Fax +48 61 845 46 01 E-mail poznan@kpmg.pl Internet www.kpmg.pl

This document is a free translation of the Polish original. Terminology current in Anglo-Saxon countries has been used where practicable for the purposes of this translation in order to aid understanding. The binding Polish original should be referred to in matters of interpretation.

INDEPENDENT AUDITORS' REPORT ON REVIEW OF THE CONDENSED INTERIM SEPARATE FINANCIAL STATEMENTS OF ENEA S.A. FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE 2016

To the Shareholders of ENEA S.A

Introduction

We have reviewed the accompanying 30 June 2016 condensed interim separate financial statements of ENEA S.A, with its registered office in Poznań, 1 Górecka Street ("the condensed interim separate financial statements"), which comprise:

• the condensed interim separate statement of financial position as at 30 June 2016,
• the condensed interim separate statements of profit or loss and other comprehensive income for the three-month and six-month periods ended 30 June 2016,
• the condensed interim separate statement of changes in equity for the six-month period ended $\bullet$ 30 June 2016,
• the condensed interim separate statement of cash flows for the six-month period ended 30 June $\bullet$ 2016, and
• notes to the interim financial statements.

Management of ENEA S.A. is responsible for the preparation and presentation of these condensed interim separate financial statements in accordance with the IAS 34 Interim Financial Reporting as adopted by the European Union. Our responsibility is to express a conclusion on these condensed interim separate financial statements, based on our review.

Scope of Review

We conducted our review in accordance with the International Standard on Review Engagements 2410 Review of Interim Financial Information Performed by the Independent Auditor of the Entity as adopted by the National Council of Certified Auditors as the National Standard on Assurance 2410. A review of interim financial statements consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review

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KPMG Audyt Spółka z ograniczoną odpowiedzialnością
sp.k. jest polską spółką komandytową i członkiem sieci KPMG składającej się z niezależnych spółek członkowskich stowarzyszonych z KPMG International
Cooperative ("KPMG International"), podmiotem prawa szwajcarskiego.

Siedziba snółki: ul. Inflancka 4A, 00-189 Warszawa
tel. +48 22 528 11 00

Spółka zarejestrowan w Sądzie Rejonowym dla m.st. Warszawy w Warszawie, XII Wydział Gospodarczy Krajowego Rejestru Sądowego.

KRS 0000339379 NIP 527-261-53-62 REGON 142078130

procedures. A review is substantially less in scope than an audit conducted in accordance with National Standards on Assurance or International Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Conclusion

Based on our review, nothing has come to our attention that causes us to believe that the accompanying condensed interim separate interim financial statements as at 30 June 2016 are not prepared, in all material respects, in accordance with IAS 34 Interim Financial Reporting as adopted by the European Union.

On behalf of KPMG Audyt Spółka z ograniczoną odpowiedzialnością sp.k. registration number 3546 ul. Inflancka 4A, 00-189 Warsaw

Signed on the Polish original

. . . . . . . . . . . . . . . . . . . .

Marek Gajdziński Key Certified Auditor Registration No. 90061 Limited Liability Partner with power of attorney

Poznań, 9 August 2016