PGE Polska Grupa Energetyczna S.A.

Earnings Release • Aug 30, 2021

Estimated selected financial and operating data for the first half of2021

The Management Board of PGE Polska Grupa Energetyczna S.A. ("PGE")publishes initial selected consolidated financial and operating data forthe first half of 2021.

According to the initial estimates net electricity production at PGEgenerating units in the first half of 2021 amounted to approximately32.9 TWh, distribution volume arrived at 18.6 TWh and sales to finaloff-takers came out at 18.8 TWh. Heat sales volume amounted to 32.1 PJ.

Consolidated EBITDA for the first half of 2021 amounted to approximatelyPLN 5 229 million, including:

EBITDA of Conventional Generation segment PLN 2 024m,

EBITDA of District Heating segment PLN 715m,

EBITDA of Distribution segment PLN 1 382m,

EBITDA of Supply segment PLN 706m,

EBITDA of Renewables segment PLN 382m,

EBITDA of Circular Economy segment PLN 24m.

CAPEX amounted to PLN 2 247m. Estimated net debt amounted toapproximately PLN 5 948m as at June 30, 2021.

Average electricity wholesale price realized by Conventional Generationsegment in the first half of 2021 amounted to PLN 254.3 per MWh.

Currently, the impairment tests are being conducted at PGE (companyinformed about that in current report no. 23/2021), result of which maypotentially have a significant impact on the net result. With regard tothe above, information about the estimated net result will be publishedtogether with the results of the impairment tests.Disclaimer:Presented values are estimated and may change. Consolidated andstandalone financial statements are still in the preparation process andare reviewed by the professional auditor. The consolidated report forthe first half of 2021 will be published on September 28, 2021.