Completion of Energy Services Companies' merger

ANNOUNCEMENT

Electrica has successfully completed the merger process of the two energy services companies FISE Electrica Serv and Servicii Energetice Muntenia

Electrica announces the successful completion of the merger of the two energy services companies within the Group, respectively Filiala de Intretinere si Servicii Energetice Electrica Serv SA (FISE Electrica Serv) and Servicii Energetice Muntenia SA (SEMU). Therefore, starting with 1 December 2020, the Group's energy services will be carried out only under the umbrella of FISE Electrica Serv.

The merger of FISE Electrica Serv SA and SEMU lays the foundation of a more flexible, more efficient structure that allows the development of a coherent investment plan, correlated with market needs and opportunities, as well as the application of a single personnel policy and the creation of new professional opportunities.

The merger involves the unification of the management process of the activities currently carried out by the two companies, which may lead to substantial savings and will allow the development of a unique strategy for this segment.

At the same time, the new company is based on a very well prepared team - a total of 730 employees, out of which over 550 are dedicated to technical activities - and will benefit from greater territorial mobility and a complex equipment park, adapted to an extensive range of maintenance and investment works, both for domestic and business clients.

Statement of Corina Popescu, CEO of Electrica S.A.: "Electrica is willing to become a strong provider of integrated energy services, optimized in terms of costs, with internal capabilities and partnerships in order to ensure flexibility and agility. We are sure that the synergies resulting from the merger of the two services companies will help the Group in achieving the strategic objectives".

Statement of Bujor Oprean, CEO of FISE Electrica Serv S.A.: "The employees had been the main pillar of this project, the entire staff of Servicii Energetice Muntenia being transferred to the new company, in accordance with all contractual rights and obligations. Starting with 1 December 2020, we have become a sole company, stronger and more efficient, which will continue to offer quality services, adapted to clients' needs. The merger allows us to develop our service portfolio and to attract new customers".

Chief Executive Officer                                                         

Georgeta Corina Popescu