Enea S.A. — Capital/Financing Update 2022

May 12, 2022

Current Report No.: 31/2022

Date of preparation: 12 May 2022

Issuer's abbreviated name: ENEA S.A.

Subject: Completion of subscription for series D shares

Legal basis: Article 56(1)(2) of the Act on Offerings - current andperiodic information

Body of the report:

The Management Board of ENEA S.A. ("Company") hereby reports thecompletion of the private subscription of series D ordinary bearershares ("Series D Shares").

The subscription for the Series D Shares was held pursuant to ResolutionNo. 5 of the Company's Extraordinary General Meeting of 8 April 2022 inthe matter of increasing the Company's share capital by issuing series Dordinary bearer shares, waiving all preemptive rights of all existingshareholders to all series D shares, amending the Company's statute,applying for admission and introduction to trading of series D sharesand/or rights to series D shares on the regulated market operated by theWarsaw Stock Exchange and dematerialization of series D shares and/orrights to series D shares ("Resolution to Increase the Share Capital").

1. Start and end dates of the subscription or sale: The book-buildingprocess was held from 8 to 13 April 2022. The Series D Sharesubscription agreements were entered into from 19 to 27 April 2022.

2. Date of allocation of the securities: 28 April 2022.

3. Number of securities subscribed for or sold: Pursuant to theResolution to Increase the Share Capital, 88,288,515 Series D Shareswere issued. All of them were put up for subscription.

4. Reduction rate applicable to separate tranches if the number ofallotted securities in at least one tranche was lower than the number ofsecurities subscribed for: Not applicable.

5. Number of securities subscribed for under the subscription or sale:Under the private subscription, 88,288,515 Series D Shares weresubscribed for.

6. Number of securities allotted under the completed subscription orsale: Under the private subscription, 88,288,515 Series D Shares weresubscribed for. All Series D Shares were allotted.

7. Price for which the securities were acquired (subscribed for):Subscription price: PLN 8.50 per Series D Share.

8. Number of persons who subscribed for the securities put up forsubscription or sale in each tranche: The Series D Shares weresubscribed for by 67 entities; the private subscription was not brokendown into tranches.

9. Number of persons to whom securities were allocated under thecompleted subscription or sale in each tranche: The Series D Shares weresubscribed for by 67 entities; the private subscription was not brokendown into tranches.

10. Name of the underwriters who took up the securities as part of theperformance of underwriting contracts, specifying the number ofsecurities they took up along with the actual price per security (issueor purchase price, net of the fee for taking up the security, in theperformance of the underwriting contract, acquired by the underwriter):Not applicable. The issue of the Series D Shares was not covered by anunderwriting obligation.

11. Value of the subscription or sale, construed as the product of thenumber of securities covered by the offering and the issue price or thepurchase price: PLN 750,452,377.50.

12. Specification of total costs classified as the costs of issue,indicating the amounts broken down by specific types of costs: a)preparation and conduct of the offering; b) underwriters' fees,separately for each of them; c) preparation of the prospectus, includingconsulting expenses; d) promotion of the offering: As at the date ofthis report, the Company has no information on the final amount of thecosts of issue. These costs will be disclosed to the public in the formof a current report after receiving and accepting all costs from theentities involved in the preparation and conduct of the issue.

13. Average cost of subscription or sale per security covered by thesubscription or sale: As at the date of this report, the Company has noinformation on the final amount of the costs of issue. These costs willbe disclosed to the public in the form of a current report afterreceiving and accepting all costs from the entities involved in thepreparation and conduct of the issue.

14. Method of payment for the subscribed for (acquired) securities (incases where the subscription (acquisition) was effected by way of aset-off of receivables): Not applicable.

Detailed legal basis: § 16 sec. 1 of the Regulation of the Minister ofFinance of 29 March 2018 on current and periodic information to bepublished by issuers of securities [...].

Disclaimer:

This current report and the information contained herein are subject torestrictions and are not intended for publication, announcement,distribution or transmission, directly or indirectly, in whole or in anypart, in the United States of America, Australia, Canada, Japan or othercountries where it would be unlawful for it to be published, announced,distributed or transmitted.

This current report is for information only and satisfies the disclosureobligations resting on ENEA S.A. as a public company whose shares havebeen admitted and introduced to trading on the regulated market operatedby Warsaw Stock Exchange SA, and in no event is it (i) an offering or isit being published in order to promote, directly or indirectly, thepurchase of or subscription for securities of ENEA S.A. with itsregistered office in Warsaw, nor does it aim to solicit, directly orindirectly, their purchase or subscription; or (ii) advertising orpromotion prepared or published by the Company for the purpose ofpromoting securities of ENEA S.A., their subscription, purchase oroffering, or in order to encourage investors, directly or indirectly, topurchase or subscribe for such securities.

This current report does not constitute advertising within the meaningof Article 22 of Regulation (EU) 2017/1129 of the European Parliamentand of the Council of 14 June 2017 on the prospectus to be publishedwhen securities are offered to the public or admitted to trading on aregulated market, and repealing Directive 2003/71/EC.

This current report and any information contained therein is notintended for publication, announcement or distribution, directly orindirectly, in or into the United States of America or any otherjurisdiction where such public distribution of information included inthis material may be restricted or prohibited by law. The securitiesreferred to in this material have not and will not be registered underthe U.S. Securities Act of 1933, as amended, and may not be offered orsold in the territory of the United States of America, except fortransactions that are not subject to the registration obligation underthe U.S. Securities Act or under an exemption from such registrationobligation.