To: Bucharest Stock Exchange (BSE)
London Stock Exchange (LSE)
Romanian Financial Supervisory Authority (FSA)
Current report in compliance with the Law 24/2017 on issuers of financial instruments and market operations, FSA Regulation no. 5/2018, and the Bucharest Stock Exchange Code
Report date: 11 August 2025
Company name: Societatea Energetica Electrica S.A. (Electrica)
Headquarters: 9 Grigore Alexandrescu Street, 1st District, Bucharest, Romania
Phone/fax no.: 004-021-2085035
Fiscal Code: RO 13267221
Trade Register registration number: J2000007425408
Subscribed and paid in share capital: RON 3.395.530.040 lei
Regulated market where the issued securities are traded: Bucharest Stock Exchange (BSE) and London Stock Exchange (LSE)
Significant events to be reported: Final settlement of file 4469/62/2018
Electrica informs shareholders and investors that, on 8 August 2025, the Brasov Court of Appeal has definitively resolved file no. 4469/62/2018, which has as its object the request of Distributie Energie Electrica Romania S.A. (DEER) (formerly SDFEE Transilvania SUD S.A. (SDTS), a subsidiary of Electrica SA) to order Electrica SA to pay the amount of RON 8,951,811 representing the value of the services paid by SDTS and not performed by Electrica SA during the period 2010-2014, based on the consultancy, mandate and service level agreements concluded between the parties, as noted by the Court of Accounts through Report no. 700 / 23618 / 04 December 2013 and Decision no. 75 / 23 December 2013 (for the period 2010-2012), respectively by the plaintiff as a result of the extension of the verifications ordered by the Court of Accounts (until 2014); • the legal interest calculated from the date of payment until the date of effective refund; • the difference between the value of the services paid by SDTS and not performed by Electrica SA and their value updated with the inflation rate, for the period between the date of payment and the date of the action; (i) mainly, following the finding of the absolute nullity of the consultancy contracts no. C134/28.12.2009 and C18/13.01.2011, of the mandate contracts no. C135/28.12.2009, C19/13.01.2011 and C11/31.01.2012 and the service contracts no. C136/28.12.2009, C20/13.01.2011, C13/31.01.2012 and C61/28.02.2014; (ii) in the alternative, following the finding of the partial termination/termination of the Contracts; (iii) thirdly, based on contractual liability; (iv) fourthly, on the basis of undue payment; (v) fifthly, on the basis of unjust enrichment; - in the alternative, the amount of RON 2,749,159, representing the damage composed of the profit tax rate plus the dividend tax rate borne for the two shareholders of the company, plus the part of dividends that would have gone to the other shareholder of the amounts in question (i.e. to the shareholder Fondul Proprietatea).
The resolution is the following:
Admits the appeal filed by the appellant plaintiff Distributie Energie Electrica Romania SA, against the civil sentence no. 28/C of 6 February 2025 of the Brasov Court, which it partially quashes and re-examines: Obliges the defendant to pay the legal penalty interest related to the amount of 8,951,811 lei, including VAT, starting with 21.12.2018 and until the effective payment of the principal. Maintains the other provisions of the contested sentence.
Rejects the appeal filed by the appellant Societatea Energetica Electrica SA, against the civil sentence no. 28/C of 6 February 2025 of the Brasov Court. Obliges the respondent defendant to pay the amount of 15,000 lei, representing partial legal costs in the appeal to the appellant plaintiff.
Previously, by judgment no. 28/C from 6 February 2025, the Brasov Court rejected the exception of inadmissibility of the introductory action, invoked by Electrica in response and partially admitted the request for summons filed by the plaintiff DEER SA, obliging Electrica to pay to DEER the amount of 8,951,811 lei, including VAT, as the equivalent of the damage established on the basis of contractual civil liability, as well as to pay the legal penalty interest related to this amount, which will be calculated starting with the date the decision becomes final and until the time of effective payment.
It also obliged Electrica to pay to the plaintiff the amount of 184,048.2 lei, as legal costs, the plaintiff's request being rejected in the remainder.
We mention the fact that after the communication of the resolution pronounced by the court of appeal, Electrica will analyse the admissibility of the formulation of the extraordinary appeals.
Other details:
The legal penalty interest in the amount of RON 8,951,811, VAT included, starting with 21 December 2018 and until 11 August 2025 is RON 4,905,469.80
Thus, the amount to be paid by Electrica SA to its subsidiary DEER is RON 14,056,329 at the date of this report, and the legal penalty interest will be recalculated at the date of payment.
This amount has not been provisioned. It has no impact on the consolidated financial statements of Electrica SA, but it does have an impact on the standalone financial statements of Electrica SA.
We also specify that there is also a positive financial impact on the financial statements of Electrica SA in 2025 of about RON 11.89 million from the definitive earning, on 25 October 2024, of the file no. 2444/2/2021, having as object the obligation of ANAF to prepare those corrective administrative acts or operations that reflect Electrica's right to the refund of the amount of RON 5,860,080 representing tax liabilities illegally revived in the tax records, the amount paid by Electrica on 9 December 2020 in order to access the tax facilities provided by GEO 69/2020, respectively Electrica's right to the refund of the amount of RON 817,521 that was not subject to the refund by payment made to ANAF on 22 September 2020, as well as the obligation of ANAF to make the payment of the legal interest for the period 12 December 2016 - 21 September 2020, in the total amount of RON 5,161,491.64 (to which are added the court costs in the amount of RON 49,083.27, awarded by the court), so that the cumulative impact of these disputes on the individual financial results will be immaterial.
Contact IR: ir@eleectrica.ro ; +40731796111
CEO
Alexandru Aurelian CHIRITA
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