PGE Polska Grupa Energetyczna S.A.

Earnings Release • Feb 10, 2017

Estimated selected financial and operating data for 2016

The Management Board of PGE Polska Grupa Energetyczna S.A. ("PGE")publishes initial selected consolidated financial and operating data for2016.

Consolidated EBITDA in 2016 will amount to approximately PLN 7,385million; including:

EBITDA of Conventional Generation segment PLN 4,182 million

EBITDA of Distribution segment PLN 2,230 million,

EBITDA of Supply segment PLN 500 million,

EBITDA of Renewable Energy segment PLN 373 million.

Consolidated net profit attributable to equity holders of the parentcompany will amount to approximately PLN 2,447 million.

Estimated CAPEX for 2016 amounted to PLN 8,152 million.

According to the initial estimates net electricity production at PGEgenerating units in 2016 amounted to 53.67 TWh.

Average wholesale electricity price realised by PGE amounted to PLN 168per MWh.

Disclaimer: Presented values are estimated and may change. Consolidatedfinancial statements of the PGE Group are still being audited by theprofessional auditor.

The annual consolidated report for 2016 will be published on March 7,2017.