PGE Polska Grupa Energetyczna S.A.

Earnings Release • Apr 25, 2017

Estimated selected financial and operating data for the first quarter of2017.

The Management Board of PGE Polska Grupa Energetyczna S.A. ("PGE")publishes initial selected consolidated financial and operating data forthe first quarter of 2017.

According to the initial estimates net electricity production at PGEgenerating units in the first quarter of 2017 amounted to 15.0 TWh,distribution volume reached nearly 9.0 TWh and sales to final off-takerscame out at 10.0 TWh.

Consolidated EBITDA for the first quarter of 2017 amounted toapproximately PLN 1,873 m, including:EBITDA of ConventionalGeneration segment PLN 917 m,EBITDA of Distribution segment PLN 618m,EBITDA of Supply segment PLN 243 m,EBITDA of Renewablessegment PLN 91 m.Consolidated net profit attributable to equityholders of the parent company amounted to approximately PLN 882 m (i.e.earnings per share of PLN 0.47).Estimated net debt amounted toapproximately PLN 5,243 m as at March 31, 2017.

Disclaimer: Presented values are estimated and may change. Consolidatedfinancial statements of the PGE Group are still in the preparationprocess. The quarterly consolidated report for the first quarter of 2017will be published on May 11, 2017.