PGE Polska Grupa Energetyczna S.A.

Capital/Financing Update • Mar 31, 2025

Report Content Signing of loan agreements with Bank Gospodarstwa Krajowego withinNational Recovery and Resilience Plan

The Management Board of PGE Polska Grupa Energetyczna S.A. ("PGE", the"Company") discloses that on March 31, 2025 the Company and BankGospodarstwa Krajowego ("BGK") have signed two loan agreements (the"Loan Agreements") for funds from National Recovery and Resilience Plan(the "NRRP") for a total amount of app. PLN 12.1 bn, includingrespectively:

- app. PLN 9 521 million for financing of projects pursued by PGEDystrybucja S.A. and

- app. PLN 2 566 million for financing of projects pursued by PGEEnergetyka Kolejowa S.A.

The loans are granted from NRRP funds under Investment G3.1.4 "Supportof the national power system (Energy Support Fund)" in accordance withthe "Rules of Application for BGK's electricity grid loans".

The funds from the Loan Agreements will be used solely for financing ofeligible expenditures within the meaning of the Loan Agreements in theiravailability period incurred by subsidiaries of PGE related toimplementation of the following projects:

- PGE Dystrybucja S.A.: Improving the capacity to integrate renewableenergy sources and improving the security of electricity suppliesthrough construction and modernisation of the electricity grid (the"Distribution Project"),

- PGE Energetyka Kolejowa S.A.: strengthening of security, improving theenergy quality and improving the capacity to connect larger number ofRES to the distribution grid feeding the Polish railways and theaccompanying ecosystem (the "Railway Energy Services Project").

According to the Loan Agreements the Company will be able to use thefunds provided that standard conditions precedent for bank financing arefulfilled and after signing of required documentation with PGEDystrybucja S.A. and PGE Energetyka Kolejowa S.A., including intra-grouploan agreements.

The funds from the Loan Agreements will be released successively, basedon the pay-out applications, as the Distribution Project and the RailwayEnergy Services Project progress, but not later than on December 20,2036 (inclusive) and up to the amount of funds remitted to BGK for thispurpose by the minister responsible for climate and environment, actingin case of Investment G3.1.4 as the Institution Responsible forInvestment implementation in the meaning of the art. 14la p. 1 of theAct of December 6, 2006 on rules for conducting development policy(Journal of Laws 2006 No. 227 item 1658, as amended).

The Loan Agreements will bear fixed interest rate of 0.5% per annum, andthe repayment is projected in semi-annual installments in the period2034-2049 (the final maturity date is December 20, 2049).

According to the Loan Agreements the amount of the financing may beincreased, what will require signing of relevant annexes to the LoanAgreements.