Romanian tax authority has definitely assessed Value Added Tax and corporate income tax

Lausanne - Following the tax audit at the Bucharest branch of Alpiq Energy SE in Prague, the Romanian tax authority ANAF (Agenția Națională de Administrare Fiscală) has presented Alpiq with the definite decision regarding tax liability in the amount of 793 million RON (approx. CHF 197 million) for Value Added Tax, corporate income tax and penalties for the period 2010 to 2014. Alpiq will challenge the ANAF decision by exercising all the available local and international legal means of redress.

ANAF has discounted Alpiq's position and the appeal petition, and confirmed the preliminary decision issued in August 2017. Alpiq will contest the tax liability determined by ANAF, both in terms of the reason and the amount. Alpiq continues to believe that it will prevail in this matter. Its position is supported by existing analyses performed by external tax and legal consultants. Alpiq will exercise all the available legal means of redress in Romania against the, in Alpiq's view, fiscally untenable tax assessment, and secure the amount demanded by ANAF with a secured bank guarantee pending a legally binding decision. In addition, Alpiq has filed a legal request to protect its position in the on-going investment arbitration proceedings against the Romanian government, in which the amount in dispute exceeds the tax liability. Alpiq Energy SE is headquartered in Prague (Czech Republic) and is a Group company of Alpiq Holding AG. The main business activities include energy trading as well as the marketing of energy services. Alpiq Energy SE will continue to remain active on the CEE/SEE energy markets.

More information about Alpiq: www.alpiq.com