Enea S.A. — Earnings Release 2020

Feb 25, 2021

Current Report No.: 7/2021

Date of Preparation: 25 February 2021

Issuer's Abbreviated Name: ENEA S.A.

Legal Basis: Article 17(1) of the Market Abuse Regulation - confidentialinformation

Subject: Information on the intention to include non-recurringoperations of an accounting nature in the financial statements for 2020

Body of the report:

The Management Board of ENEA S.A. (Company, Issuer) hereby reports thatin connection with the preparation of (standalone and consolidated)financial statements for 2020, as a result of tests for an impairment ofassets, on 25 February 2021, the Company identified the need torecognize an impairment loss on the value of shares in ENEA Wytwarzaniesp. z o.o. (ENEA Wytwarzanie) of approx. PLN 2,817 million in thestandalone financial statements for 2020 and an impairment loss on thevalue of ENEA Wytwarzanie's generation assets of approx. PLN 2,881million in the ENEA Group's consolidated financial statements for 2020.

This event will affect the standalone financial statements of ENEA S.A.by reducing the Company's pre-tax profit and net profit for thereporting period by approx. PLN 2,817 million.

This event will affect the consolidated financial statements of the ENEAGroup by reducing the its pre-tax profit by approx. PLN 2,881 millionand net profit for the reporting period by approx. PLN 2,334 million.

The events described above are non-cash items and therefore have noimpact on either the consolidated or standalone EBITDA for the reportingperiod.

Please be advised that the said amounts of impairment losses areestimates and as such are subject to change. The final value ofimpairment losses on ENEA Wytwarzanie's generation assets and shares inENEA Wytwarzanie will be presented in the periodic reports of theCompany and ENEA Group for 2020.

Please note that the term EBITDA is defined as the value of operatingprofit (loss) + depreciation and amortization + impairment losses onnon-financial non-current assets (values presented on a consolidatedbasis for the reporting period). EBITDA is a standard measure ofefficiency of a business activity, in particular for the industry inwhich the Issuer's Group operates. The above definition and methodologyfor its calculation are the same as those used to calculate thisindicator in the Issuer's periodic reports. The definition above is alsoincluded in the glossary of terms and abbreviations available on theCompany's website (https://ir.enea.pl/slownik).