KOGENERACJA : Signing of Memorandum of Understanding between EDF International (EDFI) and PGE Polska Grupa Energetyczna S.A., ENEA S.A., Energa S.A. and PGNiG Termika S.A.

Kancelaria Publiczna [Public Chambers] Current report 3/2017

Wrocław, 27 January 2017

Subject: Signing of Memorandum of Understanding between EDF International (EDFI) and PGE Polska Grupa Energetyczna S.A., ENEA S.A., Energa S.A. and PGNiG Termika S.A.

The Management Board of Zespół Elektrociepłowni Wrocławskich KOGENERACJA S.A. (the "Issuer") hereby informs that on 27 January 2017, the Management Board became aware that a Memorandum of Understanding was signed by EDF International (EDFI) and PGE Polska Grupa Energetyczna S.A., ENEA S.A., Energa S.A. and PGNiG Termika S.A., regarding negotiations to be held in relation to the acquisition by such entities of the assets held by EDFI in Poland, including the Issuer's shares.

The Issuer's Management Board was informed that EDFI has entered into the MoU referred to above in connection with its continued intention to divest of its assets in Poland, and following the end of exclusivity with IFM as per the current report no. 1/2017 dated 18 January 2017. The Issuer's Management Board was not presented with any more detailed information on the contents of the MoU or any further steps to be taken.

The information constitutes, in the opinion of the Issuer's Management Board, confidential information within the meaning of Art. 7 of the Regulation (EU) No. 596/2014 of the European Parliament and of the Council of 16 April 2014, on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council of and Commission Directive 2003/124/EC, 2003/125/EC and 2004/72/EC (MAR).

Detailed legal basis: Article 17(1) MAR.