The Management Board of Polenergia S.A. (‘Company’) hereby announces to have been notified that on 10th October 2016 Polenergia Elektrociepłownia Nowa Sarzyna Sp. z o.o. (‘ENS’) concluded an annex to the agreement of 21st March 2008 on sales of electricity between ENS and GET EnTra Sp. z o.o., extending the period of its validity for 2017 and providing for sales of electricity by ENS to GET EnTra Sp. z o.o. in 2017. Thus, taking into consideration also the transactions relating to electricity trading in 2017 between the Company’s subsidiary, i.e. Polenergia Obrót S.A., and GET EnTra Sp. z o.o., the contracted transactions for electricity sales and trading for 2017 between the Company’s subsidiaries and GET EnTra Sp. z o.o., according to the estimated value, amount to net PLN 233 000 000.00. This amount includes both the contracted income pursuant to the sale of electricity to GET EnTra Sp. z o.o., and the contracted costs arising from the purchase of electricity from the selected contractor.
The transactions between Polenergia Obrót S.A. and GET EnTra Sp. z o.o. result from the electricity sales agreement of 21st April 2011 (‘Sales Agreement’), whose period of validity was extended for 2017 under the annex of 30th September 2016 which provides for electricity supplies to Polenergia Obrót S.A. in 2017. The annex to the Sales Agreement was conditional and its entry into force was dependent on obtaining by GET EnTra Sp. z o.o. the consent of the Supervisory Board, which, according to the information provided to Polenergia Obrót S.A. by its contractor, was granted on 10th October 2016.
Moreover, the Company announces that the highest-value agreement in terms of commercial transactions contracted for 2017 between entities of the Company’s group and GET EnTra Sp. z o.o. is the Sales Agreement. The Sales Agreement was concluded on the basis of the EFET framework agreement of 9th June 2009 (‘Framework Agreement’). The Company informed of the Sales Agreement and Framework Agreement in Current Report No. 38/2015 of 17th November 2015.