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Current Report No. 59/2019

20.12.2019 17:40

Filing of a claim against Elektrociepłownia Stalowa Wola S.A.

TAURON Polska Energia S.A. (”Issuer”) informs that on 20 December 2019, Elektrociepłownia Stalowa Wola S.A. with its registered office in Stalowa Wola (”ECSW”), in which the Issuer holds, indirectly via its TAURON Wytwarzanie S.A. subsidiary, 50 percent of shares in the share capital, received a claim filed to the Court of Arbitration at the Polish Chamber of Commerce in Warsaw (Sąd Arbitrażowy przy Krajowej Izbie Gospodarczej w Warszawie) by Abener Energia S.A. with its registered office in Campus Palmas Altas, Sevilla (”Abener Energia”, ”Claimant”).

The subject of the claim is the payment by ECSW to the Claimant of the total amount of PLN 156 446 842.98 and EUR 536 839.02 (which is equivalent of PLN 2 287 148.96 according to the average NBP exchange rate announced as at 20 December 2019) plus interest, as damages due to ECSW having called for and obtained, at the Claimant’s expense, the payment under the contract performance bond or potentially a repayment of the unjust enrichment of ECSW at Abener Energia’s expense due to obtaining the payment under the contract performance bond. The bond was granted to ECSW by the Claimant in accordance with the contract concluded between the Claimant (general contractor) and ECSW (employer) on the construction of the approx. 450 MW electric capacity combined cycle power plant in Stalowa Wola.

ECSW has proceeded to review the content of the claim and will file its response to the claim at the appropriate time. A preliminary assessment of the statement of claim and its justification indicates that the claim is without merit.

Art. 17, clause 1 of MAR – inside information.

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