PGE Polska Grupa Energetyczna S.A.

Capital/Financing Update • Feb 3, 2023

Signing of a loan agreement with European Investment Bank

The Management Board of PGE Polska Grupa Energetyczna S.A. ("PGE")discloses that on February 3, 2023 PGE has signed a loan agreement (the"Agreement") with European Investment Bank ("EIB"). The value of theloan agreement amounts to PLN 1 400 000 000, the loan will be intendedfor implementation of the projects in the distribution segment,including MV lines cabling program, connection of new off-takers andgenerating units as well as installation of smart meters. Investmentsare planned to be implemented in years 2022-2025.

Loan availability period is 24 months from the Agreement signing dateand the maturity date will be maximum 18 years from the drawing date ofthe last installment under the Agreement. The interest rate will bedetermined before the payment of the each installment. The Agreementdoes not provide for tangible collaterals. After signing the abovementioned Agreement, total nominal value of the financing from EIBamounts to PLN 5 662 500 000.