DISCLOSURE OF DELAYED CONFIDENTIAL INFORMATION REGARDING PROCESS OF POTENTIAL DISPOSAL OF SUBSIDIARIES’ SHARES

In connection with the cessation of premises for delaying a confidential information, the Management Board of Polenergia S.A., acting pursuant to Art. 17 (1, 4 and 7) of the Regulation (EU) No. 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC (OJ L 173, 2014, p. 1, as amended, hereinafter referred to as ‘MAR’), hereby reveals the undermentioned confidential information concerning the receipt of offers to purchase shares of its subsidiaries (‘Confidential Information’). The disclosure of the Confidential Information was delayed on 24th October 2017, pursuant to Art. 17 (4) of MAR.

The contents of the delayed Confidential Information:

“The Management Board of Polenergia S.A. (‘Company’) hereby notifies that on 23rd October 2017 the Company received from two potential investors the offers to purchase shares of the Company’s subsidiaries implementing the projects of construction of offshore wind farms in the Baltic Sea, i.e. Polenergia Bałtyk II sp. z o.o. and Polenergia Bałtyk III sp. z o.o. One of these investors submitted an offer to purchase a block of shares of Polenergia Bałtyk I S.A. as well.”

In the Company’s opinion, the delay in the disclosure of the above-mentioned Confidential Information was justified by the protection of the legitimate interest of the Company, since the immediate announcement of this information at that time could adversely affect the Company’s negotiating position.