REG-Endesa, S.A. Information on Arbitration Award

Endesa SAAnnouncement

20/11/2023 11:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20231120:nBwcbczKma&default-theme=true


Information on Arbitration Award

 

Borja Acha Besga

Secretary of the Board of Directors

Madrid, 20 de noviembre de 2023

In accordance with the provisions of Article 226 of the Spanish Securities
Market Act, Endesa, S.A. hereby issues notice of the following Insider
Information:

The International Court of Arbitration of the International Chamber of
Commerce (ICC) has notified Endesa Generación, S.A.U. of the award issued in
arbitration proceedings aimed at reviewing the price of a long-term liquefied
natural gas (“LNG”) supply contract, which was disclosed to the market in
the notes to ENDESA’s financial statements.

As a result of the award, Endesa Generación, S.A. must pay an estimated
amount of 570 million USD (approximately 530 million EUR) to the opposing
party, a liquefied natural gas producer, for a retroactive price adjustment,
recording an accounting impact on the pre-tax results of ENDESA's consolidated
accounts, for the same amount.

ENDESA’s Board of Directors is scheduled to meet next Wednesday, 22
November, to discuss the ensuing proposed amendment to the current Dividend
Policy for 2023-2026. This amendment, if approved, will imply that the effects
of the arbitration award will have no impact on the amount of dividends
scheduled for 2023, and will be disclosed to the market in due course.

Secretary to the Board of Directors



View source version on businesswire.com:
https://www.businesswire.com/news/home/20231120307888/en/
(https://www.businesswire.com/news/home/20231120307888/en/)

Endesa, S.A.


Copyright Business Wire 2023