Enea S.A. — M&A Activity 2020

Oct 1, 2020

Current Report No.: 43/2020

Date of Preparation: 1 October 2020

Issuer's Abbreviated Name: ENEA S.A.

Signing of a letter of intent on the purchase of an equity stake in PGEEJ 1 Sp. z o.o.

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

Body of the report:

With reference to Current Report No. 10/2015 regarding the signing of anagreement to purchase shares in PGE EJ 1 sp. z o.o., the ManagementBoard of ENEA S.A. ("Issuer") hereby reports that on 1 October 2020 itsigned a letter of intent with the State Treasury ("State Treasury"), onthe acquisition by the State Treasury of a 100% equity stake in PGE EJ 1sp. z o.o. ("Letter of Intent" or "LoI").

The Letter of Intent has been signed by all shareholders of PGE EJ 1 sp.z o.o. (besides the Issuer, these are KGHM Polska Miedź S.A., PGE PolskaGrupa Energetyczna S.A. and TAURON Polska Energia S.A.). The company isresponsible for the preparation and execution of an investment projectinvolving the construction and operation of Poland's first nuclear powerplant. The issuer holds a 10% equity stake in PGE EJ 1 sp. z o.o.

The signatories of the Letter of Intent have committed themselves totaking, in good faith, all steps necessary to prepare and execute atransaction involving the acquisition by the State Treasury of an equitystake in PGE EJ 1 sp. z o.o. ("Transaction"). The State Treasury'sintent, as expressed in the LoI, is to purchase shares in PGE EJ 1 sp. zo.o. by 31 December 2020, although the parties have not set any end dateof the LoI's term of validity. The Letter of Intent does not require theparties to execute the Transaction eventually. The decision as towhether or not to execute the Transaction is contingent on the outcomeof the negotiations between the parties and the fulfillment of otherconditions provided for in the applicable laws or corporate documents.