Energa S.A.

Capital/Financing Update • Sep 29, 2016

Subject: Completion of the Bondholder Meeting for holders of series Abonds

Date: 29 September 2016

Current Report No.: 35/2016

Legal basis: Other regulations

In reference to Current Report No. 28/2016 of 12 August 2016 and CurrentReport No. 32/2016 of 19 September 2016, the Management Board of ENERGASA (“Issuer”) hereby announces the completion of the Bondholder Meetingfor series A bonds coded by the National Depository for Securities withthe ISIN number PLENERG00014, admitted and introduced to trading on theregulated market in the Catalyst platform organized by BondSpot SA,maturing on 18 October 2019 (“Bonds”), which was commenced on 19September 2016 in the offices of the law firm Allen & Overy, A. Pędzichsp. k. located in Warsaw at Rondo ONZ 1, room 2, floor 34, 00-124Warsaw, and which, after the break called on 19 September 2016, wasresumed on 29 September 2016.

The Bondholder Meeting was attended by Bondholders representing all ofthe issued Bonds in the total number of 100,000 who voted IN FAVOR ofthe proposed amendments to the terms of issue of the Bonds put forwardby the Issuer.

Consequently, as of 29 September 2016, the terms of issue of the Bondsshall be amended as follows:

1.The definition of EBITDA contained in item 1 (Definitions) of theterms of issue of the Bonds shall be worded as follows:

“EBITDA: means, for the Last Twelve Months, operating profit (loss) plusamortization and depreciation and impairment losses on non-financialnon-current assets, computed on the basis of the Issuer’s relevantannual audited consolidated financial statements or the Issuer’s interimconsolidated financial statements, compliant with IFRS.”

2.Item 3.6.1 of the terms of issue of the Bonds shall be worded asfollows:

“3.6.1. The Interest Rate for a given Interest Period shall be the BaseRate (as defined below) plus an interest margin of:

(a) for Interest Periods ending until 19 October 2016: 1.50% per annum;and

(b) for Interest Periods starting from 19 October 2016 (inclusive):1.70% per annum.”

An excerpt from the minutes of the Bondholder Meeting for holders of theBonds will be published by the Issuer after the preparation of theminutes by the Chairman of the Bondholder Meeting.

The consolidated version of the terms of issue of the Bonds, as amendedin accordance with the resolution of the Bondholder Meeting, will bepublished together with the excerpt from the minutes of the BondholderMeeting.