CONCLUSION OF AGREEMENT AMENDING AND UNIFYING CREDIT AGREEMENT FOR THE SZYMANKOWO WIND FARM PROJECT

In reference to current report No. 32/2019 of 5 November 2019, the Management Board of Polenergia S.A. (“Issuer”) hereby reports that on 29 July 2020, the Issuer’s subsidiary ˗ Polenergia Farma Wiatrowa Szymankowo Spółka z ograniczoną odpowiedzialnością (“Wind Farm”) as the borrower and the European Bank for Reconstruction and Development, mBank S.A., ING Bank Śląski S.A. as lenders (“Lenders”), concluded an agreement amending and unifying the credit agreement of 5 November 2019 (“Credit Agreement”).

Based on the Credit Agreement, the available amount of investment credit was changed from PLN 107,000,000 to PLN 171,000,000 and the amount of VAT credit from PLN 20,000,000 to PLN 27,000,000.

The Credit Agreement stipulates repayment of the investment credit not later than by 10 September 2036, for VAT credit not later than 30 June 2022. The interest on credit is equal to WIBOR increased by the banks’ margin.

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).