Transactions affiliated parties - EFSA and SNN

RNS Announcement

RNS Number : 2191Z

Societatea Energetica Electrica SA

16 September 2020

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: 16 September 2020

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 Societatea Nationala Nuclearelectrica S.A. (SNN)

Electrica informs its shareholders and investors about the conclusion, on 16 September 2020, of three transactions between EFSA, Electrica's subsidiary, and SNN, Electrica's related party, that have a value that, cumulated with the rest of the transactions concluded/executed in the last 12 months, exceeds the threshold of 5% of Electrica's net assets, according to Electrica's individual financial statements for 2019, respectively exceeds the value of RON 199,406,795.

Details regarding the transactions concluded on 16 September 2020 by EFSA, as buyer, with SNN, as seller, containing information about the date of execution, type of transactions, description of their scope, total value of the transactions, expiry date, mutual debts and receivables, guarantees, penalties, payment due dates and methods are presented in Annex 1.

Details regarding the transactions concluded in the last 12 months between the parties, which lead to exceeding, at a cumulative level, the threshold of 5% of Electrica's net assets, according to Electrica's individual financial statements for 2019, have been presented in the Current Report issued on 9 September 2020 (IRIS Code (BSE) 9B833, respectively RNS Code (LSE) 4477Y).

Chief Executive Officer

Georgeta Corina Popescu

Annex 1: Details regarding the transactions concluded by Electrica Furnizare SA with Societatea Nationala Nuclearelectrica S.A. on 16 September 2020 of the kind listed in Art. 92³ of Law No. 24/2017

Seller: Societatea Nationala Nuclearelectrica S.A.

Buyer: Electrica Furnizare SA

Parties of the transaction	Agreement Type and No., execution date	Scope of the agreement	Amount (RON th.)	Date of entry into force	Expiry date	Guarantees (RON th.)	Penalties	Payment due dates and payment methods
EFSA and SNN	Contract No. 1299/ 16 Sept 2020, following the transaction concluded on 11 September 2020 on OPCOM platform, awarded through PCCB-LE-Flex auction	Sale and purchase of electricity	21,508.43	1 January 2021	31 December 2021	3,653.49	In case the invoice is not paid until maturity, the Buyer will have the obligation to pay late payment penalties, the interest level corresponding to the percentage of interest due for not paying the obligations to the state budget, calculated for each day of delay starting with the first day after the due date until the day of payment (included). Compensation in amount of RON 1,826.74 th. in case of non-submission by EFSA of the guarantees specified in the agreements, in favor of SNN Additional compensation in amount of RON 7,071.26 th. in case of cancellation. Total cancellation compensations can be calculated at the time of cancellation only, because they are determined depending on the quantity not delivered and the price calculated according to the contractual provisions	The payment is made on the 11^th working day from the submission date of the invoice, or on the 12^th working day of the month immediately following the month of delivery. The invoice is issued starting with the first working day of the month immediately following the delivery month, but not later than 5 calendar days after the end of the month.
EFSA and SNN	Contract No. 1300/ 16 Sept 2020, following the transaction concluded on 11 September 2020 on OPCOM platform, awarded through PCCB-LE-Flex auction	Sale and purchase of electricity	21,484.78	1 January 2021	31 December 2021	3,649.47	In case the invoice is not paid until maturity, the Buyer will have the obligation to pay late payment penalties, the interest level corresponding to the percentage of interest due for not paying the obligations to the state budget, calculated for each day of delay starting with the first day after the due date until the day of payment (included). Compensation in amount of RON 1,824.73 th. in case of non-submission by EFSA of the guarantees specified in the agreements, in favor of SNN Additional compensation in amount of RON 7,063.49 th. in case of cancellation. Total cancellation compensations can be calculated at the time of cancellation only, because they are determined depending on the quantity not delivered and the price calculated according to the contractual provisions	The payment is made on the 11^th working day from the submission date of the invoice or on the 12^th working day of the month immediately following the month of delivery. The invoice is issued starting with the first working day of the month immediately following the delivery month, but not later than 5 calendar days after the end of the month.
EFSA and SNN	Contract No. 1301/ 16 Sept 2020, following the transactions concluded on 11 September 2020 on OPCOM platform, awarded through PCCB-LE-Flex auction	Sale and purchase of electricity	21,567.12	1 January 2021	31 December 2021	3,663.46	In case the invoice is not paid until maturity, the Buyer will have the obligation to pay late payment penalties, the interest level corresponding to the percentage of interest due for not paying the obligations to the state budget, calculated for each day of delay starting with the first day after the due date until the day of payment (included). Compensation in amount of RON 1,831.73 th. in case of non-submission by EFSA of the guarantees specified in the agreements, in favor of SNN Additional compensation in amount of RON 7,090.56 th. in case of cancellation. Total cancellation compensations can be calculated at the time of cancellation only, because they are determined depending on the quantity not delivered and the price calculated according to the contractual provisions	The payment is made on the 11^th working day from the submission date of the invoice or on the 12^th working day of the month immediately following the month of delivery. The invoice is issued starting with the first working day of the month immediately following the delivery month, but not later than 5 calendar days after the end of the month.
Transactions total amount (RON th.):			64,560.32

Due and not due mutual receivables of EFSA from SNN at 15.09.2020: RON 14,752.35

Due and not due mutual debts of EFSA towards SNN at 15.09.2020: RON 28,778,324.29

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RNS metadata

Title: Transactions affiliated parties - EFSA and SNN
Time: 16:16:13
Date: 16 Sept 2020
Category: Miscellaneous
ID: 2191Z