Legal actions for annulment of certain ANRE orders

To: Bucharest Stock Exchange

Romanian Supervisory Authority

London Stock Exchange (LSE)

Current report in compliance with Art. 226 (1) of the Romanian Capital Market Law no. 297/2004, Art. 113 point A paragraph (1) letter j) of CNVM Regulation no. 1/2006, and Art. 99 of the Bucharest Stock Exchange Code, Title II, Issuers and Financial Instruments

Report date: 21.01.2015

Company name: Societatea de Distribuţie şi Furnizare a Energiei Electrice - "ELECTRICA" S.A.

Headquarters: 9 Grigore Alexandrescu Street, 1st District, Bucharest, Romania

Phone/fax no: 004-021-2085999/ 004-021-2085998

Fiscal Code: RO 13267221

Trade Register registration number: J40/7425/2000

Subscribed and paid in share capital: RON 3,459,399,290

Regulated market where the issued securities are traded: Bucharest Stock Exchange (BVB) and London Stock Exchange (LSE)

Significant events to be reported:

The filing by Societatea de Distribuţie şi Furnizare a Energiei Electrice - "Electrica" S.A. ("Electrica" or the "Company"), as claimant, of several legal actions having as object the annulment of certain orders issued by the president of the National Authority for the Regulation of Energy ("ANRE")

Electrica hereby informs that it has filed, as claimant, the following legal actions:

1. an action for the annulment of the ANRE president Order No. 146/2014 for establishing the regulated return rate applicable for the approval of tariffs for electric energy distribution service provided by concessionaire distribution operators starting with 1st January 2015 and for repealing Article 122 of the Methodology for establishing the tariffs for electric energy distribution services, approved by ANRE president Order No. 72/2013 ("Order 146/2014"); furthermore, Electrica has also requested by the same action, as a direct consequence of the annulment of Order 146/2014, the annulment of (i) ANRE president Order no. 156/15.12.2014 for the approval of the specific tariffs for electric energy distribution service and of the price for reactive electrical energy for the concessionaire distribution operator S.C. FDEE Electrica Distribuţie Transilvania Sud S.A. ("Order 156/2014"); (ii) ANRE president Order no. 155/15.12.2014 for the approval of the specific tariffs for electric energy distribution service and of the price for reactive electrical energy for the concessionaire distribution operator S.C. FDEE Electrica Distribuţie Transilvania Nord S.A. ("Order 155/2014"); and of (iii) ANRE president Order no. 154/15.12.2014 for the approval of the specific tariffs for electric energy distribution service and of the price for reactive electrical energy for the concessionaire distribution operator S.C. FDEE Electrica Distribuţie Muntenia Nord S.A. ("Order 154/2014"). The case was registered with the Bucharest Court of Appeal under No. 192/2/2015.

2. an action for the annulment of Order 154/2014 that includes additional grounds for establishing the illegality thereof, grounds that are not included in the object of the action for annulment mentioned at point 1 above. The action was registered on the docket of the Bucharest Court of Appeal under No. 317/2/2015.

3. an action for the annulment of Order 155/2014. The action was registered on the docket of the Bucharest Court of Appeal under No. 361/2/2015.

4. an action for the annulment of Order 156/2014. The action was registered on the docket of the Bucharest Court of Appeal under No. 360/2/2015.

Similar legal actions have also been filed by Electrica's subsidiaries, as follows:

1. S.C. FDEE Electrica Distribuţie Muntenia Nord S.A. ("Electrica Distribuţie Muntenia Nord"), S.C. FDEE Electrica Distribuţie Transilvania Sud S.A. ("Electrica Distribuţie Transilvania Sud") and S.C. FDEE ELECTRICA Distribuţie Transilvania Nord S.A. ("Electrica Distribuţie Transilvania Nord") have challenged Order 146/2012 in the following cases registered at the Bucharest Court of Appeal: (i) case No. 184/2/2015 (Electrica Distribuţie Muntenia Nord), (ii) case No. 208/2/2015 (Electrica Distribuţie Transilvania Sud), and (iii) case No. 213/2/2015 (Electrica Distribuţie Transilvania Nord), respectively.

2. Electrica Distribuţie Muntenia Nord challenged Order 154/2014. The action was registered on the docket of the Bucharest Court of Appeal under No. 318/2/2015.

3. Electrica Distribuţie Transilvania Nord challenged Order 155/2014. The action was registered on the docket of the Bucharest Court of Appeal, the corresponding case not having yet been assigned a number.

4. Electrica Distribuţie Transilvania Sud challenged Order 156/2014. The action was registered on the docket of the Bucharest Court of Appeal, the corresponding case not having yet been assigned a number.

Electrica also informs that, simultaneously with the filing of the legal actions mentioned above, Electrica and its subsidiaries filed preliminary complaints with ANRE against Orders 146/2014, 154/2014, 155/2014 and 156/2014. We mention that the preliminary complaint filed by Electrica against Order 146/2014 has been rejected by ANRE.

General Manager

Ioan Roşca