PETITION TO ACKNOWLEDGE INVALIDITY OF AGREEMENT TERMINATION NOTICES: JUDGEMENT OF THE DISTRICT COURT IN GDAŃSK

The Management Board of Polenergia S.A. (“Issuer”) in reference to the Issuer’s current report No. 14/2015 of 23 March 2015 reports that by means of a partial and initial judgement of 6 March 2020, the District Court in Gdańsk, 9th Economic Division, acknowledged the petition of the Issuer’s subsidiary, Talia Sp. z o.o. with its registered office in Łebcz (“Talia”) in a part pertaining to determination of invalidity of termination notices of Polska Energia – Pierwsza Kompania Handlowa spółka z ograniczoną odpowiedzialnością (“PKH”) of Property Rights Sale Agreement Resulting from Certificates of Origin Confirming Generation of Electric Energy in Renewable Energy Sources – Wind Farm in Modlikowice of 23 December 2009 (“Property Rights Sale Agreement”) and Agreement on Sale of Electric Energy Generated in a Renewable Energy Source – Wind Farm in Modlikowice of 23 December 2009, concluded with Talia.

Simultaneously, the Court determined the claims for compensation sought by Talia from PKH on account of failure to perform the Property Rights Sale Agreement by PKH as essentially justified.

The judgement is subject to appeal.

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).