Enea S.A. — Board/Management Information 2020

Jun 4, 2020

Opinion of the Supervisory Board of ENEA S.A. concerning the report on ENEA Capital Group's operations and its consolidated financial statements as for their conformity with accounting records and documents and with the actual situation

(prepared in accordance with § 71 item 1(12) of Regulation of the Finance Minister of 29 March 2018 on current and periodic information provided by issuers of securities and on conditions under which information required by legal regulations of a nonmember state may be recognised as equivalent)

The Supervisory Board of ENEA S.A. ("the Company", "the Issuer") hereby declares that acting pursuant to Article 382 § 3 of the Polish Commercial Companies Code, it has reviewed:

• the consolidated financial statements of ENEA Capital Group for the year 2019, including:

a) consolidated statement of financial position showing as at 31 December 2019 a balance sheet amount of assets and liabilities equal to PLN 32,843,854 thousand (thirty-two billion eight hundred forty-three million eight hundred and fifty-four thousand zloty),

b) consolidated comprehensive income statement showing as at 31 December 2019 the total net comprehensive income of PLN 470,287 thousand (four hundred seventy million two hundred eighty-seven thousand zloty) with a net profit of PLN 540,697 thousand (five hundred forty million six hundred and ninety-seven thousand zloty),

c) consolidated statement of changes in equity demonstrating an increase in equity as at 31 December 2019 by PLN 430,609 thousand (four hundred thirty million six hundred and nine thousand zloty),

d) consolidated cash flow statement demonstrating as at 31 December 2019 an increase in net cash by PLN 1,111,109 thousand (one billion one hundred eleven million one hundred and nine thousand zloty),

• the report on ENEA Capital Group's operations in the financial year 2019 (prepared together with the report on the Issuer's operations in the form of a single document), with view to their conformity with the accounting records and documents and with the actual situation.

Based on the analysis of:

a) the contents of the aforementioned statements and reports submitted by the Company's Management Board,

b) accounting documents and records and information provided by the Company's Management Board,

c) the results of additional checks carried out in selected financial and operational areas,

d) the results of meetings with representatives of the audit firm, including the key statutory auditor,

e) information from the Audit Committee on the course, results and relevance of the audit for the reliability of financial reporting in the Company and the role of the Committee in the process of auditing the financial statements, it has assessed positively the aforesaid statements and report.

Based on its knowledge about the Company and on the wide range of activities undertaken in connection with the preparation and audit of the said statements and reports, the Supervisory Board of ENEA S.A. believes that the report on ENEA Capital Group's operations and its consolidated financial statements for the financial year 2019 have been prepared in accordance with the applicable provisions of law and are consistent with the accounting records and documents and that they truly reflect the actual situation.

Adopted by Resolution No. 29/X/2020 of the Supervisory Board of ENEA S.A. of 4 June 2020.