PGE Polska Grupa Energetyczna S.A.

M&A Activity • Oct 31, 2017

The fulfillment of the last condition precedent under the ConditionalShare Sale Agreement regarding sale of EDF assets in Poland

With reference to current report no. 29/2017 dated May 19, 2017, theManagement Board of PGE Polska Grupa Energetyczna S.A. ("PGE", the"Company") discloses that on October 27, 2017 all conditions precedentto the transaction of sale of EDF assets in Poland have been fulfilled.

On October 31, 2017 PGE received a notification from EDF companies on astatement by the General Director of the National Center forAgricultural Support (Krajowy Ośrodek Wsparcia Rolnictwa - KOWR), thelegal successor of the Agricultural Property Agency (ANR), that it doesnot exercise the pre-emption right.

EDF has already received a clearance on the transaction from therelevant governmental authorities in France. PGE received consent forthe transaction from the Minister of Energy and obtained the conditionalconsent of the Office of Competition and Consumer Protection.

Due to fulfillment of all conditions precedent, the closing date of thetransaction, pursuant to the Conditional Share Sale Agreement, isNovember 13, 2017.

Information on the transfer of shares in the acquired companies and onthe completion of sale of EDF assets in Poland will be disclosed inseparate current reports of the Company.