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15/01/2021 19:11

Current report 1/2021

The Management Board of Polenergia S.A. (“Issuer”) hereby reports that on 15 January 2021, the Issuer’s subsidiary, Polenergia Dystrybucja Sp. z o.o. with its registered office in Warsaw (“Subsidiary”), having procured the required corporate consents and having received debt financing, decided to start to implement the investment plan for years 2021-2026 (“Investment Plan”). The Investment Plant foresees implementation of investments in the area of design and construction of electric energy infrastructure to supply new facilities and recipients, primarily in reference to housing estates. The purpose of the Investment Plan is an increase in the value of the Subsidiary’s regulated assets and a material increase in the database of end clients. These activities form a part of the Strategy of Polenergia Group for 2020-2024 published in May 2020.

The total amount of expenses foreseen in the Investment Plan is PLN 105 million. The Investment Plan is going to be financed from the Subsidiary’s own funds and from a bank credit facility in the amount of PLN 75.3 million received on the basis of an amending agreement to credit agreement of 21 November 2018 concluded by the Subsidiary with ING Bank Śląski S.A. on 15 January 2021

The credit facility bears a variable interest rate of 3M WIBOR increased by a margin specified in the credit agreement. A one-year grace period with respect to the credit repayment was foreseen; after the end of it, the credit will be amortised in quarterly periods, whereas the final date of repayment is November 2029.

Legal basis: Art. 17(1) of Regulation of the European Parliament and Council (EU) No. 596/2014 on market abuse and repealing Directive 2003/6/EC of the European Parliament and Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC (Journal of Laws of the European Union L of 2014, No. 173, p. 1 as amended).

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