Coal Energy SALSE Coal Stock Report

Coal Energy SA is a holding company, which engages in mining, beneficiation, and sale of thermal and coking coals. Its principal business is underground coal mining, processing of coal waste dumps, and beneficiation and sale of thermal and coking coal. Its coal reserves are located in the Ukrainian coal basin, Donbas. The company co-operates directly with the majority of Ukrainian power generation plants, coking plants and steel mills. The company also expands its export operations, mainly through thermal coal sales to power generation plants in Moldova, Bulgaria, Slovakia and other countries. As of June 30, 2012, the Company operated 14 subsidiaries based in Cyprus, British Virgin Islands and Ukraine. On November 15, 2011, it incorporated Coal Energy Ukraine Ltd.