Energa S.A. — Capital/Financing Update 2024

Dec 4, 2024

Report Content Current Report No. 44/2024

Date: 4 December 2024

Subject: Fitch Ratings affirmed Energa SA's rating

Legal basis: Article 17 (1) of MAR - inside information

The Management Board of Energa SA (_quot;Company_quot;, "Energa") informs that, on4 December 2024 Fitch Ratings (_quot;Agency_quot;, _quot;Fitch_quot;) affirmed the Company'slong-term foreign and local currency Issuer Default Ratings (IDRs) at'BBB+' with a stable outlook. The affirmation reflects Fitch'sapplication of the Parent and Subsidiary Linkage Rating Criteria, underwhich the Agency continues to equalize Energa's rating with that of theCompany's majority owner - ORLEN S.A.

Fitch also affirmed the following ratings of the Company and its debt:

- long-term national rating: _#8216;AA+(pol)',

- the Company's foreign-currency long-term senior unsecured rating:'BBB+',

- the Company's long-term rating of subordinated debt: 'BBB-'

- long-term national senior unsecured rating: _#8216;AA+(pol)',

and long-term senior unsecured rating for the bonds issued by theCompany's subsidiary Energa Finance AB (publ): 'BBB+'.

The Agency also affirmed the Company's standalone credit profile at'bbb-' due to, among others, the Energa Group's solid business profile,with a focus on its predictable regulated electricity distributionbusiness.

The full text of the Agency's report is available on Fitch Ratingswebsite. The rating was awarded at the request of the Company.