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PGE Polska Grupa Energetyczna S.A.

Earnings Release Feb 23, 2016

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Earnings Release

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Operating and sales data for the period of January 2016.

The Management Board of PGE Polska Grupa Energetyczna S.A. ("PGE")hereby discloses preliminary operating and sales data for January 2016.

Net generation of electricity in PGE Group amounted to 4.6 TWh (vs. 5.0TWh in January 2015), including net generation from lignite of 2.9 TWh(vs. 3.4 TWh).

Realized wholesale price amounted to PLN 167 per MWh (vs. PLN 173 perMWh in January 2015).

Volume of retail sales to final off-takers amounted to 3.6 TWh (vs. 3.1TWh in January 2015).

Volume of electricity distribution amounted to 2.9 TWh (vs. 2.9 TWh inJanuary 2015).

Disclaimer: the above figures are estimated and were not audited.

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