Key changes in the Group’s structure and organization

As at 31 December 2018, the Energa Group consisted of 22 companies, including its parent company, Energa SA.

Simplified corporate diagram of the Energa Group as at 31 December 2018

The Energa Group Governance Model

The essential document of the Energa Group setting forth its general governance framework is the Energa Group Cooperation Agreement, signed on 20 December 2017 by 31 Energa Group companies (as at the date of this report, as a result of corporate restructuring within the Energa Group, 20 compa-nies remain parties to the Agreement).

The Energa Group Cooperation Agreement is a civil-law instrument which:

• ensures cooperation between the Energa Group companies and guarantees the performance of the Group,
• eflects the need to ensure, to the extent required by law, the independence of the distribution system operator within the Energa Group,
• forms the basis for the development of long-term cooperation across all Energa Group compa-nies,
• reflects the necessity to have a uniform and consistent operating policy for all Energa Group companies in place.