Energa S.A.

Capital/Financing Update • Aug 31, 2021

Current Report No. 31/2021

Date: 31 August 2021

Subject: Agreement between Energa SA and PKN ORLEN S.A. on financing ofCCGT Grudziądz power plant and update of the Long-Term StrategicInvestments Plan of the Energa Group for 2021-2030

Legal basis: Article 17(1) MAR - inside information

The Management Board of Energa SA ("Issuer") informs that on 31 August2021 it concluded with PKN ORLEN S.A. ("PKN ORLEN"), the Issuer'sstrategic shareholder, an agreement regarding the financing("Agreement") of the construction of a gas and steam power plant inGrudziądz ("Project"). In case of the investment decision regarding theProject, PKN ORLEN committed in the Agreement to finance up to 100% ofthe capital expenditures related to the implementation of the Project,but not more than PLN 1.8 billion, provided to the conclusion of acapacity contract by the company CCGT Grudziądz Sp. z o.o. (specialpurpose vehicle implementing the Project, 100% subsidiary of theIssuer). The indicated capital expenditures will be covered by providingcash to the Issuer or to the CCGT Grudziądz Sp. z o.o. for equity orforeign capital. The Agreement also defines the rules of supervisionover the company CCGT Grudziądz Sp. z o.o. and managing the Project.

Simultaneously on 31 August 2021 the Supervisory Board of Energa SAadopted a resolution to update of the "Long-Term Strategic InvestmentsPlan of the Energa Group for 2021-2030" ("Investment Plan"), about whichthe Issuer informed in the current report No. 10/2021 of 27 April 2021.According to the current version of the Investment Plan, total outlayson core- and additional investment projects of the Energa Group plannedfor 2021-2030 amount to approx. PLN 31.5 billion (including approx. PLN13.6 billion in the Generation Business Line), of which approx. PLN 15.2billion between 2021 and 2025. The amounts allocated in the years2021-2030 in the Distribution Business Line (approx. PLN 16.9 billion)and in the Sales Business Line and other companies (approx. PLN 1.1billion) have not changed.