Enea S.A. — Earnings Release 2023

Dec 21, 2018

Current Report No.: 66/2018

Date of Preparation: 21 December 2018

Short Name of Issuer: ENEA S.A.

Subject: Results of the capacity market auction for the year 2023

Legal basis: Article 17(1) MAR - confidential information

Content of report:

The Management Board of ENEA S.A. announces that as a result of thecapacity market auction held on 21 December 2018, after taking intoaccount the results of the auctions held on 15 November and 5 December2018, a total capacity obligation of not less than 3,663 MW wascontracted for the year 2023 with respect to generation units owned bythe ENEA Capital Group.

In comparison with the results of the main auction held on 5 December2018, of which ENEA S.A. informed in Current Report No. 64/2018, thelevel of long-term capacity contracts concluded by the ENEA CapitalGroup was supplemented by 37 MW under renewed one-year contractsconcluded for 2023.

The closing price of the auction held on 21 December 2018 in the eighthround is within the 189.95-217.06 PLN/kW/year range, and pursuant toArticle 38(1) of the Capacity Market Act of 8 December 2017, it shall bemade public by PSE S.A within 3 working days.

Furthermore, the Management Board of ENEA S.A. announces that it hasreceived information from Elektrownia Ostrołęka Sp. z o.o. ("Company")on the result of the capacity market auction for 2023 for a newgeneration unit. A total of 852.6 MW of capacity obligation (with a15-year capacity contract) was contracted by the Company. The closingprice of the auction is within the 189.95-217.06 PLN/kW/year range.

In accordance with the investment contract concluded on 8 December 2016,ENEA S.A. holds 50% of shares of Elektrownia Ostrołęka Sp. z o.o. andthe same number of votes at its shareholders' meeting.

The capacity obligations contracted on the basis of the auction held on21 December 2018 are not the final results of the capacity auction. Thefinal results shall be published by the President of the EnergyRegulatory Office in the Public Information Bulletin on its website, onthe first working day following the 21st day after the end of thecapacity auction. Until then, all contracts of sale of capacityobligations are conditional.