Transactions related parties - EFSA and TEL

RNS Number : 7177J

Societatea Energetica Electrica SA

25 August 2021

To: Romanian Financial Supervisory Authority (ASF)

Bucharest Stock Exchange (BVB)

London Stock Exchange (LSE)

Current report in compliance with the Law 24/2017 on issuers of financial instruments and market operations, ASF Regulation no. 5/2018, and the Bucharest Stock Exchange Code

Report date: 24 August 2021

Company name: Societatea Energetica Electrica S.A. (Electrica)

Headquarters: 9 Grigore Alexandrescu Street, 1^st District, Bucharest, Romania

Phone/fax no.: 004-021-2085999/ 004-021-2085998

Fiscal Code: RO 13267221

Trade Register registration number: J40/7425/2000

Subscribed and paid in share capital: RON 3,464,435,970

Regulated market where the issued securities are traded: Bucharest Stock Exchange (BVB) and London Stock Exchange (LSE)

Significant events to be reported: Transactions with related parties according to Art. 92³ para (12) of Law No. 24/2017 concluded by Electrica Furnizare SA (EFSA), subsidiary of Societatea Energetica Electrica SA (Electrica), with Transelectrica S.A. (TEL)

Electrica informs its shareholders and investors about the conclusion, on 23 August 2021, of several transactions between EFSA, Electrica's subsidiary, and TEL, whose value, cumulated with the rest of the transactions concluded/executed in the period 22 April - 23 August 2021, exceeds the threshold of 5% of Electrica's net assets, according to Electrica's individual financial statements for 2020, respectively exceeds the value of RON 202,466,778.

Details regarding the transactions concluded on 23 August 2021 by EFSA with TEL, together with the rest of the transactions already concluded in the period 22 April - 23 August 2021, which, individually or cumulatively, did not meet the requirement provided in art. 92³ para. (3) of Law no. 24/2017, containing information about the date of execution, type of transaction, description of its scope, total value of the transaction, expiry date, mutual debts and receivables, guarantees, penalties, payment due dates and methods are presented in Annex 1.

Chief Executive Officer

Georgeta Corina Popescu

Annex 1: Details regarding the transactions concluded between 22 April - 23 August 2021 by EFSA with TEL of the kind listed in Art. 923 of Law No. 24/2017

Agreement Type and No., execution date	Scope of the agreement	Amount of transactions	Date of entry into force	Expiry date	Guarantees (RON th.)	Penalties (RON th.)	Payment due dates and payment methods
Buyer: EFSA Provider: TEL
Convention No. 416 / 20 Dec 2013 Add. 1/ 28 Dec 2018	Electricity transport and system services	89,175.79	1 January 2014	31 December 2023	27,506	In case of non-fulfillment within 5 calendar days from the due date of the obligations, the beneficiary pays in addition to the amount due, a penalty interest on this amount, corresponding as a percentage of interest due for non-payment of obligations to the state budget, for each day delay, starting with the day following the date of the deadline until the day of payment (exclusive). The total value of the penalties may not exceed the value of the amount due	Payment is made within a maximum of 10 days from receipt of the invoice
Convention No. 275 / 19 Oct 2020	Sale and purchase of electricity between the parties, as a result of production / consumption imbalances of PRE that were offset by Transelectrica on the balancing market in accordance with the provisions of the regulations in force	55,537.16	1 September 2020	Undetermined until its termination by any of the parties	10,583	In case of non-payment of invoices on time, PRE pays a penalty equal to an additional amount compared to the amount due to be paid and includes interest accrued for any amounts due and unpaid, calculated as a percentage of the delay penalty charged for non-payment of obligations to the state budget, starting with the day following the deadline on which the payments should have been made and ending with the day preceding the day on which the outstanding amounts were actually paid	Payment is made within a maximum of 5 working days from date of issuing the invoice
Contract 35 / 12 Feb 2021	Contribution to high efficiency cogeneration	52,916.23	12 February 2021	18 months from the date of termination of state aid established by Government Decision no. 1215/2009	N/A	In case of non-payment of due invoices, the guilty party has the obligation to pay penalty interest charged for late payment, equal to the level of delay interest charged for non-payment of obligations to the state budget, for each day of delay after the due date, until on the day of payment (exclusively). The total value of the penalty interest may not exceed the value of the amount due.	The contributor pays the invoices sent by the administrator of the support scheme within 7 days from their receipt, but not later than the 20^th day of each month following the month of the consumption.
Buyer: TEL Provider: EFSA
Convention No. 275 / 19 Oct 2020	Sale and purchase of electricity between the parties, as a result of production / consumption imbalances of PRE that were offset by Transelectrica on the balancing market in accordance with the provisions of the regulations in force	27,525.64	1 September 2020	Undetermined until its termination by any of the parties	N/A	In case of non-payment of invoices on time, Transelectrica pays a penalty equal to an additional amount compared to the amount due to be paid and includes interest accrued for any amounts due and unpaid, calculated as a percentage of the delay penalty charged for non-payment of obligations to the state budget, starting with the day following the deadline on which the payments should have been made and ending with the day preceding the day on which the outstanding amounts were actually paid	Payment is made within a maximum of 5 working days from the date of issuing the invoice
Contract no. 321 / 20 Jul 2004 - TN Add. no. 15 / 30 Jul 2020	Re-invoicing pensioners	28.98	20 July 2004	During GD 1041/2003 and GD 1461/2003	N/A	If the beneficiary does not pay the value of the invoices within 30 days from the due date, he owes penalties in the amount of 0.05% for each day of delay, starting with the 31^st day and until full payment of the invoice.The amount of the penalties cannot exceed the value of the invoice.	Payment is made until the 25^th of the month following the reference month.
Contract no. 575 / 06 Nov 2017 - MN Add. no. 2/ 18 Apr 2019	Re-invoicing pensioners	28.98	7 November 2017	During GD 1041/2003 and GD 1461/2003	N/A	If the payer does not pay the value of the invoices within 30 days from the due date, he owes penalties equal to the level of interest charged for late payment of debts to the state budget, for each day of delay, starting with the first day after maturity and payment in full, including the day of payment. The amount of the penalties cannot exceed the value of the invoice.	Payment is made within 30 calendar days from the date of issuance of the invoice.
Convention 254 / 24 Apr 2021	Re-invoicing utilities	27.63	1 March 2021	28 February 2022	N/A	If the invoices are not honored within the stipulated term, the supplier is entitled to claim penalties of 0.02% for each day of delay, calculated at the amount of the unpaid amount. The value of the calculated penalties may not exceed the amount of the unpaid amount	The payment term is 15 days from the date of registration of the documents re-invoiced by CN de Transport a Energiei Electrica Transelectrica SA.

Total executed amount during 22 April - 23 August 2021: RON 225,211.43 th.

Due and not due mutual receivables of EFSA to TEL at 20.08.2021: RON 19.74 th.

Due and not due mutual debts of EFSA to TEL at 20.08.2021: RON 57.98 th.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MSCSEUSIIEFSEEA

Date	25 Aug 2021
Time	07:00:02
Category	Miscellaneous
ID	7177J

Date	25 Aug 2021
Time	07:00:02
Category	Miscellaneous
ID	7177J

t

Company Information

RNS Metadata

Company Information

RNS Metadata

Transactions related parties - EFSA and TEL