CONCLUSION BY PROJECT COMPANIES IMPLEMENTING OFFSHORE WIND FARM CONSTRUCTION PROJECTS OF CHARTER AGREEMENTS FOR CREW TRANSPORTATION VESSELS

The Management Board of the company under the name of Polenergia S.A. (“Issuer”) hereby announces that the project companies MFW Bałtyk II sp. z o.o. and MFW Bałtyk III sp. z o.o. (collectively the “Project Companies”), in which the Issuer holds a 50% share, developing – as part of a joint venture between the Issuer and Equinor Wind Power AS – projects for the construction of two offshore wind farms, i.e. MFW Bałtyk II and MFW Bałtyk III (“Projects”), signed on 25 October 2024 a total of four agreements for the charter of crew transport vessels (“Agreements”). Each of the Project Companies has entered into two Agreements in this respect – one with Northern Offshore Services A/S with its registered office in Copenhagen, Denmark (“NOS”) and the other with Njord Offshore Ltd. with its registered office in Maud’s Court, United Kingdom (“Njord”) (collectively the “Shipowners”).

As part of the Agreements, the Shipowners will charter to the Project Companies a total of four Crew Transport Vessels (CTVs) to support the process of building offshore wind farms and transformer stations at sea and to provide servicing during the initial period of operation of the Projects, including the technological start-up phase (two vessels for each of the Projects).

MFW Bałtyk II sp. z o.o. has entered into Agreements for a three-year charter period, while the Agreements for MFW Bałtyk III sp. z o.o. were included in the option formula (for a period of three years), which may be exercised by this company until 1 September 2026. Each of the companies has the option to extend the Agreements for another three years. The remuneration for the charter of the vessels was specified in the Agreements at a fixed daily rate, taking into account indexation. MFW Bałtyk II sp. z o.o. estimates the cost of the charter over a three-year period at approx. EUR 13.5 million, and MFW Bałtyk III sp. z o.o. at approx. EUR 13.8 million (if it exercises the option). In addition, in the event of the Agreements being extended for another three years, the additional remuneration for the Shipowners is estimated at approx. EUR 30 million in total for both Projects.

The expected date of launching the vessel charter is the second quarter of 2026 for the OWF Bałtyk II project and the third quarter of 2027 for the OWF Bałtyk III project.

The Agreements contain similar substantive provisions, standard for maritime contracts, including the commencement date and charter period, the possibility of optional extension of the charter period, liability rules, mandatory insurance, contract termination rules, including termination fees.

The Agreements were concluded under English law.

The conclusion of the Agreements is necessary for the efficient construction of both Projects and the transition to the operational phase. The Agreements provide for the flexibility of using the chartered vessels for the needs of each of the Projects.

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