Alro S.A.

Romania's Competition Council imposed a RON 21,238,718.99 fine on ALRO in Decision 82/24.12.2015 concerning an alleged vertical anti-competitive agreement on the electricity market involving Hidroelectrica. ALRO formally challenged the decision and maintained that its electricity relationship complied with applicable law. Company filings confirm that the fine was paid and subsequent court proceedings continued. Because final closure of the merits challenge was not established in this review, the record is marked unresolved. Sources: https://www.alro.ro/en/news-resources/news/important-events-to-report-the-announcement-on-the-fine-imposed-by-the-competition-council and https://www.bvb.ro/infocont/infocont20/ALR_20200428173738_Annual-report-Alro-Group-2019.pdf