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ELSA - Societatea Energetica Electrica SA News Story

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Last Trade - 30/11/21

Sector
Utilities
Size
Mid Cap
Market Cap £572.4m
Enterprise Value £683.1m
Revenue £1.14bn
Position in Universe 566th / 1804

Soc EnergElectricaSA - Transactions related parties DEER - EFSA

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RNS Number : 2882S  Societatea Energetica Electrica SA  12 November 2021

To:                              Romanian
Financial Supervisory Authority (ASF)

 
Bucharest Stock Exchange (BVB)

                                    London
Stock Exchange (LSE)

Current report in compliance with the Law 24/2017 on issuers of financial
instruments and market operations, ASF Regulation no. 5/2018, and the
Bucharest Stock Exchange Code

Report date: 12 November 2021

Company name: Societatea Energetica Electrica S.A. (Electrica)

Headquarters: 9 Grigore Alexandrescu Street, 1(st) 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 3,464,435,970

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

 

Significant events to be reported: Transactions with related parties according
to Art. 108 ( )of Law No. 24/2017 concluded by Distributie Energie Electrica
Romania SA (DEER) and Electrica Furnizare SA (EFSA), subsidiaries of
Societatea Energetica Electrica SA (Electrica)

Electrica informs its shareholders and investors about the conclusion, on 10
November 2021, of several transactions between DEER and EFSA, Electrica's
subsidiaries, that have a value that, cumulated with the rest of the
transactions concluded/executed in the period 14 September - 10 November 2021
(respectively after the previous current report issued on 16 September 2021 on
BSE - IRIS Code 077EC and on LSE - RNS code 9795L), exceeds the threshold of
5% of Electrica's net assets, according to Electrica's individual financial
statements for 2020, respectively exceeds the value of RON 202,466,778.

Details regarding the transactions concluded on 10 November 2021, which led to
exceeding the threshold, containing information about the date of execution,
type of transaction, description of its scope, total value of the transaction,
expiry date, mutual debts and receivables, guarantees, penalties, payment due
dates and methods are presented in Annex 1.

Details regarding the rest of the transactions already concluded in the period
14 September - 10 November 2021, which, individually or cumulatively, did not
meet the requirement provided in art. 108  of Law no. 24/2017, but which
cumulated with the transaction presented in Annex 1 lead to exceeding the
threshold of 5% of Electrica's net assets, according to Electrica's individual
financial statements for 2020, are presented in Annex 2.

Chief Executive Officer

Georgeta Corina Popescu
 
 

 

  Annex 1: Details regarding the transaction concluded by DEER and EFSA on
10 November 2021 of the kind listed in Art. 108 of Law No. 24/2017

Services provider: DEER-MN

Beneficiary: EFSA

 

 Agreement Type and No., execution date  Scope of transactions                                                            Amount of transactions (RON th.)  Invoice Number / Date                                                             Date of entry into force      Expiry date     Guarantees (RON th.)  Penalties                                                                           Payment due dates and payment methods
 R102263/30 Mar 2016                     Providing electricity distribution service by the distribution operator for      40,200.54                         7190002247/ 10.11.2021;  7190002248/ 10.11.2021;  7190002249/ 10.11.2021;         1 April 2016                  indefinite      N/A                   In case of not fulfilling the payment obligations within 30 days from               Issuance of the invoice with the payment amount for the concluded contractual
                                         users, end customers of the supplier, whose installations are connected to the                                     7190002250/ 10.11.2021;                                                                                                                               invoice's due date, the supplier will pay, in addition to the amount due, a         month is made in the first 10 working days of the month following each
                                         electricity network of the distribution operator                                                                                                                                                                                                                         penalty interest corresponding as a percentage of interest due for not paying       contractual month. Payment is made within 10 working days from the date of
                                                                                                                                                                                                                                                                                                                  the obligations to the state budget in due time, calculated for each day of         issuing the invoice, in case of its communication by e-mail, or within 10 days
                                                                                                                                                                                                                                                                                                                  delay starting with the first day after the due date until the day of payment       from the date of sending the invoice, otherwise.
                                                                                                                                                                                                                                                                                                                  (exclusive). The total value of the penalty interest may not exceed the value
                                                                                                                                                                                                                                                                                                                  of the amount due.
 Transactions total amount (RON th.):                                                                                     40,200.54

 

Due and not due mutual debts of EFSA to DEER at 09.11.2021: RON 170,677.18 th.

Due and not due mutual debts of DEER to EFSA at 09.11.2021: RON 1,689.06 th.

 

 

Annex 2:

Details regarding the transactions concluded by DEER and EFSA in the period 14
September - 10 November 2021 of the kind listed in Art. 108 of Law No. 24/2017

 

 Agreement Type and No., execution date                                        Scope of transactions                                                         Amount                                                                        Date of entry into force                                                      Expiry date                                                                   Guarantees (RON th.)                                                          Penalties                                                                     Payment due dates and payment methods

                                                                                                                                                             (RON th.)
 Services provider: DEER-TN

 Beneficiary: EFSA
 30275/30 Sept 2015                                                            Providing electricity distribution service by the distribution operator for   143.66                                                                        1 October 2015                                                                indefinite                                                                    N/A                                                                           In case of not fulfilling the payment obligations within 30 days from         Issuance of the invoice with the payment amount for the
                                                                               users, end customers of the supplier, whose installations are connected to the                                                                                                                                                                                                                                                                                                                         invoice's due date, the supplier will pay, in addition to the amount due, a   concluded contractual
                                                                               electricity network of the distribution operator                                                                                                                                                                                                                                                                                                                                                      penalty interest corresponding as a percentage of interest due for not paying month is made in the first 10 working days of the month
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     the obligations to the state budget in due time, calculated for each day of   following each
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     delay starting with the first day after the due date until the day of payment contractual month. Payment is made within 10 working days from
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     (exclusive). The total value of the penalty interest may not exceed the value the date of
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     of the amount due.                                                            issuing the invoice, in case of its communication by e-mail, or
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   within 10 days
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   from the date of sending the invoice, otherwise.
 33802/1 Jul 2015                                                                                                                                            1 July 2015
 43670/17 Nov 2015                                                                                                                                           1 December 2015
 426/SM/30 Dec 2015                                                                                                                                          1 January 2016
 10019 BN/1 Oct 2015                                                                                                                                         1 October 2015
 71107/11 Aug 2015                                                                                                                                           1 September 2015
 32476/9 Dec 2015                                                              Providing electricity distribution service by the distribution operator for   724.70                                                                        1 January 2016                                                                indefinite                                                                    N/A                                                                           In case of not fulfilling the payment obligations within 30 days from         Issuance of the invoice with the payment amount for the
                                                                               users, end customers of the supplier, whose installations are connected to the                                                                                                                                                                                                                                                                                                                         invoice's due date, the supplier will pay, in addition to the amount due, a   concluded contractual
                                                                               electricity network of the distribution operator                                                                                                                                                                                                                                                                                                                                                      penalty interest corresponding as a percentage of interest due for not paying month is made in the first 10 working days of the month
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     the obligations to the state budget in due time, calculated for each day of   following each
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     delay starting with the first day after the due date until the day of payment contractual month. Payment is made within 10 working days from
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     (exclusive). The total value of the penalty interest may not exceed the value the date of
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     of the amount due.                                                            issuing the invoice, in case of its communication by e-mail, or
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   within 10 days
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   from the date of sending the invoice, otherwise.
 33799/1 Jul 2015                                                                                                                                            1 July 2015
 43264/20 Oct 2015                                                                                                                                           1 November 2015
 425/SM/23 Dec 2015                                                                                                                                          1 January 2016
 10018 BN/1 Jul 2015                                                                                                                                         1 July 2015
 70866 /1 Jul 2015                                                                                                                                           1 July 2015
 425/SM/23 Dec 2015                                                            Providing electricity distribution service by the distribution operator for   1.33                                                                          1 January 2016                                                                indefinite                                                                    N/A                                                                           Penalty interest corresponding as a percentage of the interest due for        The invoice is issued with the payment amount for the concluded
                                                                               users, end customers of the supplier, whose installations are connected to the                                                                                                                                                                                                                                                                                                                         non-payment on time of the obligations to the state budget), calculated for   contractual
                                                                               electricity network of the distribution operator - other services as DO                                                                                                                                                                                                                                                                                                                               each day of delay starting with the first day after the due date until the day month is made in the first 10 working days of the month
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     of payment (exclusively). The total value of the penalty interest may not     following each
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     exceed the value of the amount due.                                           contractual month. Payment is made within 10 working days from
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   the date of
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   issuing the invoice.
 103 / 10 Mar 2016                                                             Providing electricity distribution service by the distribution operator for   71,198.95                                                                     1 April 2016                                                                  indefinite                                                                    N/A                                                                           In case of not fulfilling the payment obligations within 30 days from         Issuance of the invoice with the payment amount for the
                                                                               users, end customers of the supplier, whose installations are connected to the                                                                                                                                                                                                                                                                                                                         invoice's due date, the supplier will pay, in addition to the amount due, a   concluded contractual
                                                                               electricity network of the distribution operator                                                                                                                                                                                                                                                                                                                                                      penalty interest corresponding as a percentage of interest due for not paying month is made in the first 10 working days of the month
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     the obligations to the state budget in due time, calculated for each day of   following each
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     delay starting with the first day after the due date until the day of payment contractual month. Payment is made within 10 working days from
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     (exclusive). The total value of the penalty interest may not exceed the value the date of
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     of the amount due.                                                            issuing the invoice, in case of its communication by e-mail, or
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   within 10 days
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   from the date of sending the invoice, otherwise.
                                                                               Providing electricity distribution service by the distribution operator for   6.11                                                                          If the supplier does not pay the invoices related to the EDN intervention                                                                                   Payment is made within 30 calendar days from the date of issuing the invoice
                                                                               users, end customers of the supplier, whose installations are connected to the                                                                               services within 30 days from the due date, the distribution operator will
                                                                               electricity network of the distribution operator - other services as DO                                                                                     claim delay penalties of 0.01% for each day of delay, calculated at the unpaid
                                                                                                                                                                                                                                           amount, starting with the first day after the due date, until the day of
                                                                                                                                                                                                                                           payment (exclusively). The value of the penalties may not exceed the amount
                                                                                                                                                                                                                                           due.
 Convention 50277/22 Feb 2016; AD 53229 A/20 Oct 2020 - Bistrita               Re-invoicing utilities expenses                                               14.20                                                                         1 January 2016                                                                31 December 2023                                                              N/A                                                                           For delays in the payment of the invoice of more than 30 days from the due    Payment is made within 10 calendar days from the date of
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     date, the lessor has the right to charge, and the lessee has the obligation to registration of the
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     pay late payment penalties of 0.03% applied to the amount due for each        invoice to the tenant
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     calendar day of delay, starting with the first day after due date. The value
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     of the penalties will not exceed the value of the outstanding debt
 Convention 30728/22 Feb 2016, AD. 4/56021/7 Oct 2020 - Oradea                                                                                               12.03                                                                         1 January 2016
 Convention E12.2.59/8 Mar 2011 - Oradea - utilities breakdown Oradea building                                                                               4.57                                                                          1 February 2011                                                               Non-payment of the invoice within 30 days from the due date authorizes the
 -headquarters                                                                                                                                                                                                                                                                                                           lessor to request late-payment penalties equal to the late-payment penalties
                                                                                                                                                                                                                                                                                                                         due for not paying the tax obligations to the state budget in due time,
                                                                                                                                                                                                                                                                                                                         applied to the amount due for each day of delay, starting with day following
                                                                                                                                                                                                                                                                                                                         the due date and until the date of settlement of the amount due, exclusively.
                                                                                                                                                                                                                                                                                                                         The value of the penalties may not exceed the value of the outstanding debt.
 Convention 60380/22 Feb 2016, AD SM 63761A/ 16 Dec 2020 - Satu Mare                                                                                         15.59                                                                         1 January 2016                                                                For delays in the payment of the invoice of more than 30 days from the due
                                                                                                                                                                                                                                                                                                                         date, the lessor has the right to charge, and the lessee has the obligation to
                                                                                                                                                                                                                                                                                                                         pay late payment penalties of 0.03% applied to the amount due for each
                                                                                                                                                                                                                                                                                                                         calendar day of delay, starting with the first day after due date. The value
                                                                                                                                                                                                                                                                                                                         of the penalties will not exceed the value of the outstanding debt
 Convention 1193/9 Jan 2017, AD3/21 Sept 2019 - Baia Mare                                                                                                    6.70                                                                          1 January 2017
 Convention 17/ 28 Feb 2019 - Cluj                                                                                                                           16.64                                                                         1 March 2019
 Convention 70022/5 Jan 2017, AD 71117A/1267/18 Jul 2018 - Zalau                                                                                             1.78                                                                          1 January 2017
 Services provider: DEER-TS

 Beneficiary: EFSA
 C-3831/D/700/ 15 Mar 2016 and AD8/18 Jun 2020                                 Providing electricity distribution service by the distribution operator for   66,421.01                                                                     1 April 2016                                                                  indefinite                                                                    N/A                                                                           In case of not fulfilling the payment obligations within 30 days from         Issuance of the invoice with the payment amount for the

                                                                             users, end customers of the supplier, whose installations are connected to the                                                                                                                                                                                                                                                                                                                         invoice's due date, the supplier will pay, in addition to the amount due, a   concluded contractual
                                                                               electricity network of the distribution operator                                                                                                                                                                                                                                                                                                                                                      penalty interest corresponding as a percentage of interest due for not paying month is made in the first 10 working days of the month
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     the obligations to the state budget in due time, calculated for each day of   following each
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     delay starting with the first day after the due date until the day of payment contractual month. Payment is made within 10 working days from
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     (exclusive). The total value of the penalty interest may not exceed the value the date of
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     of the amount due.                                                            issuing the invoice, in case of its communication by e-mail, or
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   within 10 days
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   from the date of sending the invoice, otherwise.
 C-3831/D/700/ 15 Mar 2016 and AD 2/1 Aug 2016                                 Providing electricity distribution service by the distribution operator for   8.68                                                                                                                                                        If the supplier does not pay the invoices related to the EDN intervention                                                                                   Payment is made within 30 calendar days from the date of issuing the invoice.
                                                                               users, end customers of the supplier, whose installations are connected to the                                                                                                                                                             services within 30 days from the due date, the distribution operator will
                                                                               electricity network of the distribution operator - other services as                                                                                                                                                                      claim delay penalties of 0.01% for each day of delay, calculated at the unpaid
                                                                               distribution operator                                                                                                                                                                                                                     amount, starting with the first day after the due date, until the day of
                                                                                                                                                                                                                                                                                                                         payment (exclusively). The value of the penalties may not exceed the amount
                                                                                                                                                                                                                                                                                                                         due.
 C 22/15 Feb 2018; AA4 /15 Feb 2018                                            Providing the representation service as Balancing Responsible Party           1,992.64                                                                      15 February 2018                                                              indefinite                                                                    N/A                                                                           If due to his sole fault the Provider fails to fulfill its obligations under  The invoice will be paid by the provider / purchaser within 3

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   the contract, the Purchaser has the right to deduct from the tariff           financial days
 C 61/4 Apr 2018                                                                                                                                                                                                                                                                                                                                                                                                                                                                     established by the contract an amount equal to a percentage of 1.5% of the    from the date of its receipt

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   tariff established according to Annex 2.
 C 1466/27 Mar 2018

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     If the Purchaser does not fulfill any payment obligation arising under the
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     Contract, he has the obligation to pay as penalties an amount equivalent to a
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     percentage of the unpaid payment. The percentage for each day of delay is that
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     of the interest due for not paying on time the obligations for the state
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     budget.

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     The same penalties will be charged for any amounts due by the Purchaser based
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     on the contract.
 C-1345/I/7000/23 Jan 2019; AD2/18 Dec 2020                                    Re-invoicing buildings rental services                                        70.38                                                                         1 January 2019                                                                31 December 2023                                                              N/A                                                                           In case of not fulfilling the payment obligations on the due date, the tenant Payment is made within 10 working days from the date of
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     has the obligation to pay, as penalties, an amount equivalent to 0.02% of the registration of the
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     unpaid amount on time, for each day of delay, starting with the next day after invoice by the tenant.
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     the due date until actual payments.
 C-320/14 Sept 2007; AD54/30 Dec 2020                                          Re-invoicing telecommunications services                                      -3.86                                                                         14 September 2007                                                             30 June 2021                                                                  N/A                                                                           If the beneficiary does not pay the invoices until the due date, he has the   Payment is made within 10 working days from the date of

                                                                                                                                                                                                                                         obligation to pay, as penalties, an amount equivalent to the percentage of    registration of the
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     interest due for not paying the obligations to the state budget in due time,  invoice by the Beneficiary
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     to the amount not paid on time for each day of delay starting with the next
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     day of the due date until the date of the actual payment, inclusive. The
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     amount of the penalties may not exceed the amount on which it is calculated.
 Services provider: DEER-MN

 Beneficiary: EFSA
 R102263/30 Mar 2016                                                           Providing electricity distribution service by the distribution operator for   38,486.06                                                                     1 April 2016                                                                  indefinite                                                                    N/A                                                                           In case of not fulfilling the payment obligations within 30 days from         Issuance of the invoice with the payment amount for the
                                                                               users, end customers of the supplier, whose installations are connected to the                                                                                                                                                                                                                                                                                                                         invoice's due date, the supplier will pay, in addition to the amount due, a   concluded contractual
                                                                               electricity network of the distribution operator                                                                                                                                                                                                                                                                                                                                                      penalty interest corresponding as a percentage of interest due for not paying month is made in the first 10 working days of the month
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     the obligations to the state budget in due time, calculated for each day of   following each
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     delay starting with the first day after the due date until the day of payment contractual month. Payment is made within 10 working days from
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     (exclusive). The total value of the penalty interest may not exceed the value the date of
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     of the amount due.                                                            issuing the invoice, in case of its communication by e-mail, or
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   within 10 days
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   from the date of sending the invoice, otherwise.
                                                                               If the supplier does not pay the invoices issued by the distribution operator                                                                               Payment is made within 30 days from the date of issuing the invoice.
                                                                               within 30 days from the due date, the distribution operator will claim delay
                                                                               penalties of 0.01% for each day of delay, calculated at the unpaid amount,
                                                                               starting with the first day after the due date, until the day of payment
                                                                               (exclusively). The value of the penalties may not exceed the amount due.
 2630/01 Mar 2018                                                              Re-invoicing common expenses                                                  8.75                                                                          1 March 2018                                                                  indefinite                                                                    N/A                                                                           0.001% of the amount not paid on time, calculated for each day of delay       Payment is made within 60 calendar days from the date of
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     starting with the first day after the due date until the day of payment       registration of the
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     (exclusive). The value of the penalties may not exceed the amount due         invoice by the beneficiary
 17831/17 Feb 2020                                                             Re-invoicing common expenses                                                  2.68                                                                          1 February 2020                                                               indefinite                                                                    N/A                                                                           N/A                                                                           N/A
 26497/10 Mar 2020
 10335/01 Aug 2007                                                             Re-invoicing common expenses                                                  13.23                                                                         1 August 2007                                                                 31 July 2022                                                                  N/A                                                                           For delays in paying the invoices, the beneficiary will pay penalities of     Payment is made within 30 days from the date of registration of
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     0.1%/day of delay, starting with the first day after the due date until the   the invoice by
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     day of payment (exclusive)                                                    the beneficiary
 Services provider: EFSA

 Beneficiary: DEER-TN
 22/15 Feb 2018; AD 4/16 Dec 2019; AD 5/31 Dec 2020                            Providing the representation service as Balancing Responsible Party           5,487.99                                                                      1 January 2018                                                                31 December 2021 with automatic extension for periods of 12 months according  N/A                                                                           If, through his sole fault, the Provider fails to fulfill its obligations     Payment is made within 3 working days from the date of receipt
                                                                                                                                                                                                                                                                                                                         to AD 4/16 Dec 2019                                                                                                                                         under the contract, the Buyer has the right to deduct from the tariff         of the invoice
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     established by the contract, as penalties, an amount equivalent to a
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     percentage of 1.5% of the monthly tariff established.
 Convention 72/26 Jan 2017, AD 2/1 Mar 2019, referring to rental services      Re-invoicing common expenses                                                  1.84                                                                          1 January 2017                                                                31 December 2023                                                              N/A                                                                           For delays in the payment of the invoice for more than 30 days from the due   Payment is made within 10 days from the date of registration of
 contract 885/31 Dec 2015                                                                                                                                                                                                                                                                                                                                                                                                                                                            date, the lessor has the right to charge, and the lessee has the obligation to the invoice

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   pay, delay penalties of 0.03% applied on the amount due, for each calendar day with the tenant
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     of delay, starting with the first day after the due date. The value of the
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     penalties may not exceed the value of the outstanding debt.
 Convention 13/2 Feb 2017 referring to rental services contract 885/31 Dec 2015 Re-invoicing common expenses                                                  0.08                                                                          1 January 2017                                                                31 December 2023                                                              N/A                                                                           N/A                                                                           Payment is made within 10 days from the date of registration of
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   the invoice
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   with the tenant
 Convention 21/18 Feb 2010                                                     Re-invoicing common expenses - water/sewage                                   0.05                                                                          19 January 2010                                                               indefinite                                                                    N/A                                                                           Failure to pay the invoice within 10 days from the due date, authorizes the   The due date of the invoice is 10 days from the date of
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     Owner to receive late-payment penalties equal to the level of late-payment    registration of the
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     penalties charged by Compania de Apa Oradea, applied to the amount due for    invoice at DEER - TN.
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     each day of delay, starting with the day after the due date and until the date
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     of settlement of the amount due, exclusively.
 Services provider: EFSA

 Beneficiary: DEER-TS
 876/31 Dec 2015, AD 3/18 Jan 2019                                             Re-invoicing utilities expenses                                               12.43                                                                         1 January 2016                                                                31 December 2023                                                              N/A                                                                           In case of failure to pay the obligations on the due date, the tenant has the Payment of the invoice will be made by transfer within 10

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   obligation to pay, as penalties, an amount equivalent to 0.02% of the amount  working days from
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     not paid on time, for each day of delay, starting with the day after the due  the date of registration of the invoice by the tenant
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     date, until on the date of actual payment.
 Services provider: EFSA

 Beneficiary: DEER
 268/29 Aug 2007; AD 16/18 Feb 2020 - TN                                       Re-invoicing - pensioners energy quota                                        187.14                                                                        1 August 2017                                                                 During the period GD 1041/2003 is in force, as it was completed and modified  N/A                                                                           If the beneficiary does not pay the value of the invoices within 30 calendar  The payment of the issued invoices is made, by legal

                                                                                                                                                                                                                                         by GD 1461/2003                                                                                                                                             days from the due date, the beneficiary owes the supplier penalties of 0.04%  instruments, within 30
                                                                               Equivalent value of electricity granted to individuals benefiting from the                                                                                                                                                                                                                                                                                                                            for each day of delay, starting with the 31st day from the due date and until days from their registration to the beneficiary.
                                                                               provisions of GD.1041/2003 and GD.1461/2003                                                                                                                                                                                                                                                                                                                                                           full payment of the invoice. The value of the penalties may not exceed the
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     value of the amount paid.
 C49/7 Sept 2007; AD 139/1 Sept 2020 - TS                                                                                                                    If the beneficiary does not pay the value of the invoices within the                                                                                        The payment of the equivalent value of the invoice will be made through the
                                                                                                                                                             stipulated terms, he owes the supplier penalties in the amount equal to the                                                                                 legal modalities, within the deadline of 30 calendar days from the receipt at
                                                                                                                                                             one provided for failing to pay the obligations to the State Budget for each                                                                                the payer's headquarters. In case of payment of the invoice by bank
                                                                                                                                                             day of delay, starting with the due date and until full receipt of the                                                                                      instruments, the date of payment will be considered the date of registration
                                                                                                                                                             invoice. The amount of the penalties may not exceed the value of the amount on                                                                               of the amount at the bank where the payment was made. In case of payment by
                                                                                                                                                             which they were calculated.                                                                                                                                 clearing, the payment date will be considered the date of completion of the
                                                                                                                                                                                                                                                                                                                         clearing documents.
 R84/31 Aug 2007; AD 8/15 Jan 2020 - MN                                                                                                                      If the payer does not pay the invoice within 30 days from the due date, he                                                                                  Payment of the invoice will be made by legal means within the deadline of 30
                                                                                                                                                             owes the provider penalties of 0.1% for each day of delay, starting with the                                                                                calendar days from the date of registration of the invoice at the payer's
                                                                                                                                                             first day after the due date and until full payment, including the day of                                                                                   premises.
                                                                                                                                                             payment. The amount of the penalties will not exceed the value of the invoice.

 

Total executed amount during 14 September - 10 November 2021, based on
contract without fix value: RON 184,835.36 th.

Due and not due mutual debts of EFSA to DEER at 09.11.2021: RON 170,677.18 th.

Due and not due mutual debts of DEER to EFSA at 09.11.2021: RON 1,689.06 th.

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