CURRENT REPORT FILED WITH

THE POLISH FINANCIAL SUPERVISION AUTHORITY

DATE: November 18th 2020

Subject:Receipt of request for payment of bond amount paid by GENERALI to bond beneficiary JSC VILNIAUS KOGENERACINĖ JĖGAINĖ [Current Report No. 62/2020]

Contents:

Further to Current Report No. 53/2020 of October 5th 2020, announcing that RAFAKO S.A. w restrukturyzacji (in restructuring) (the "Company") issued a notice of impossibility/termination under a conditional contract for the construction of a biomass-firedco-generation unit composed of boilers with fluidised beds, biomass storage and feeder systems, and flue gas treatment system, as part of the project to construct a new CHP plant in Vilnius, Lithuania (the "Contract"), Current Report No. 54/2020 of October 6th 2020, announcing immediate rescission of the Contract by JSC VILNIAUS KOGENERACINĖ JĖGAINĖ (the "Employer"), and Current Report No. 55/2020 of October 8th 2020, announcing that the Employer made calls for payment by KUKE S.A. and Generali T.U. S.A. of performance bonds issued in respect of the Contract, the Management Board of the Company announces that on November 17th 2020 the Company received from Generali T.U. S.A. a request for payment of a bond amount of EUR 2,993,000.00 (two million, nine hundred and ninety-three thousand euros) under framework revolving contract surety bond facility agreement No. GNL- UF/2016/1483/UG in connection with the payment by Generali T.U. S.A. of the bond amount of EUR 2,993,000.00 (two million, nine hundred and ninety-three thousand euros) to the Employer as the beneficiary of the bond.

In the opinion of the Company's Management Board, General T.U. S.A.'s claim constitutes an arrangement claim under the Company's ongoing simplified restructuring procedure by operation of law.

Legal basis:

Art. 17.1 of the Market Abuse Regulation - inside information.

Mariusz Zawisza, President of the Management Board

Ewa Porzucek, Vice President of the Management Board

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RAFAKO SA published this content on 18 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 November 2020 14:18:00 UTC