PGE Polska Grupa Energetyczna S.A.

Earnings Release • Nov 5, 2020

Estimated selected financial and operating data for the 9 months of 2020

The Management Board of PGE Polska Grupa Energetyczna S.A. ("PGE")publishes initial selected consolidated financial and operating data forthe 9 months of 2020.

According to the initial estimates net electricity production at PGEgenerating units in the 9 months of 2020 amounted to approximately 42.8TWh, distribution volume arrived at 26.3 TWh and sales to finaloff-takers came out at 30.5 TWh. Heat sales volume amounted to 31.5 PJ.

Consolidated EBITDA for the first half of 2020 amounted to approximatelyPLN 4 351m, including:

EBITDA of Conventional Generation segment PLN 1 258m,

EBITDA of District Heating segment PLN 608m,

EBITDA of Distribution segment PLN 1 738m,

EBITDA of Supply segment PLN 486m,

EBITDA of Renewables segment PLN 411m.

CAPEX amounted to PLN 3 768m. Estimated net debt amounted toapproximately PLN 8 557m as at September 30, 2020.

Average electricity wholesale price realized by Conventional Generationsegment in the 9 months of 2020 amounted to PLN 286.1 per MWh.

Disclaimer: Presented values are estimated and may change. Consolidatedfinancial statements of the PGE Group are still in the preparationprocess. The consolidated report for 9 months of 2020 will be publishedon November 17, 2020.