Transactions affiliated parties - EFSA and OPCOM

RNS Announcement

RNS Number : 9318A

Societatea Energetica Electrica SA

02 October 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: 1 October 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 OPCOM

Electrica informs its shareholders and investors about the conclusion, on 30 September 2020, of two transactions between EFSA, Electrica's subsidiary, and OPCOM, 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 30 September 2020 by EFSA, as buyer/seller, with OPCOM, as seller/buyer, 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.

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, are presented in Annex 2.

Chief Executive Officer

Georgeta Corina Popescu

Annex 1: Details regarding the transactions concluded by EFSA with OPCOM on 30 September 2020 of the kind listed in Art. 923 of Law No. 24/2017

Parties of the transaction	Agreement Type and No., execution date	Scope of the transactions	Amount (RON th.)	Date of entry into force	Expiry date	Guarantees (RON th.)	Penalties (RON th.)	Payment due dates and payment methods
Buyer: EFSA Seller: OPCOM
OPCOM and EFSA	Convention No. 11426 / 25 Aug 2011 - without fix price, the transactions amounts are determined based on the monthly invoices issued by OPCOM	Sell - purchase of electricity	6,522.32	25 August 2011	N/A	28,500		Invoices are issued on the last day of the delivery month. Payment is made until the 10^th calendar day of the following month
Buyer: OPCOM Seller: EFSA
EFSA and OPCOM	Convention No. 11426 / 25 Aug 2011 - without fix price, the transactions amounts are determined based on the monthly invoices issued by EFSA	Amount of sale of electricity	7,784.81	25 August 2011	N/A			Invoices are issued on the last day of the delivery month. Payment is made until the 10^th calendar day of the following month
Total transactions amount (RON th.):			14.307,13

Due and not due mutual receivables of EFSA to OPCOM at 29.09.2020 (RON th.): (3,589.54)*

Due and not due mutual debts of EFSA to OPCOM at 29.09.2020 (RON th.): (2,015.25)*

*The negative balance as per 29.09.2020 is due to the receipts / payments made in advance by the parties, in relation to the transactions carried out on the DAM, according to OPCOM's procedure regarding settlement of transactions carried out on DAM

Annex 2: Details regarding the transactions concluded in the last 12 months by EFSA with OPCOM of the kind listed in Art. 92³ of Law No. 24/2017

Parties of the transaction	Agreement Type and No., execution date	Scope of the transactions	Amount (RON th.)	Date of entry into force	Expiry date	Guarantees (RON th.)	Penalties (RON th.)	Payment due dates and payment methods
Buyer: EFSA Seller: OPCOM
OPCOM and EFSA	Convention No. 11426 / 25 Aug 2011 - without fix price, the transactions amounts are determined based on the monthly invoices issued by OPCOM	Sell - purchase of electricity	Amount in the last 12 months, at 30.09.2020: 191,531.62	25 August 2011	N/A	28,500		Invoices are issued on the last day of the delivery month. Payment is made until the 10^th calendar day of the following month
OPCOM and EFSA	Convention No. 11426 / 25 Aug 2011 - without fix price, the transactions amounts are determined based on the monthly invoices issued by OPCOM	Trading and administration tariffs	Amount in the last 12 months, at 30.09.2020: 233.7	25 August 2011	N/A			Payment is made by bank transfer, with payment order, within a maximum of 5 working days from the date of receipt of the invoice.
OPCOM and EFSA	Convention PCCB-NC 3876/2015 Convention PCCB-LE 3878/2015 Convention PCCB LE FLEX 26829/2020 Convention PC OTC 19546/2014 Convention PC SU 14098/2018 Convention PI/2017; Convention PVC 90958/2017 Convention PC ESRE CV 6235/2019 Conventions without fix price, the transactions amounts are determined based on the monthly invoices issued by OPCOM	Trading tariffs	Amount in the last 12 months, at 30.09.2020 1,668.46	19 January 2015 19 January 2015 26 May 2020 2 April 2014 20 April 2018 19 January 2017 11 October 2017 30 September 2019	N/A	28,500		Invoices are issued on the last day of the delivery month. Payment is made until the 10^th calendar day of the following month
Buyer: OPCOM Seller: EFSA
EFSA and OPCOM	Convention No. 11426 / 25 Aug 2011 - without fix price, the transactions amounts are determined based on the monthly invoices issued by EFSA	Amount of sale of electricity	Amount in the last 12 months, at 30.09.2020: 53,829.65	25 August 2011	N/A			Invoices are issued on the last day of the delivery month. Payment is made until the 10^th calendar day of the following month
Total amount executed in the last 12 months (RON th.):			247,263.43

Due and not due mutual receivables of EFSA to OPCOM at 29.09.2020 (RON th.): (3,589.54)*

Due and not due mutual debts of EFSA to OPCOM at 29.09.2020 (RON th.): (2,015.25)*

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RNS metadata

Title: Transactions affiliated parties - EFSA and OPCOM
Time: 07:00:02
Date: 2 Oct 2020
Category: Miscellaneous
ID: 9318A