PGE Polska Grupa Energetyczna S.A.

Capital/Financing Update • Apr 17, 2019

Potential issue of bonds on Polish market

The Management Board of PGE Polska Grupa Energetyczna S.A. ("PGE", the"Company") discloses that, within the domestic bonds program of up toPLN 5 000 000 000 (say: five billion zloty), it considers issuing ofunsecured bonds of up to PLN 1 000 000 000 (say one billion zloty) inthe second quarter of 2019, that can be increased according to theManagement Board's decision. The maturity of the issued bonds will be 7or 10 years from the issue date.

The bonds may be issued in one or several series. The offering of bondswill be carried out solely in the territory of Poland. The issue ofbonds will take place pursuant to art. 33 p. 2) of the Act of January15, 2015 on bonds, and the proposals for the purchase of bonds will bedirected to no more than 149 individually identified addressees.

The detailed terms of issue and final value of the bonds issue will bedetermined at a later date, taking into account, among others, resultsof the book building process among the investors and situation on thedomestic bond market.

Information concerning the realisation of PGE's intentions with regardto the planned issue will be reported in separate current report.