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PGE Polska Grupa Energetyczna S.A.

M&A Activity • Mar 29, 2019

5758_rns_2019-03-29_73bb93b9-1592-4dc8-934c-124e91ca0abf.html

M&A Activity

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Signing of an annex to the agreement for designing and construction ofpower unit in Turów power plant

The Management Board of PGE Polska Grupa Energetyczna S.A. ("PGE", the"Company") discloses that on March 29, 2019 PGE Górnictwo i EnergetykaKonwencjonalna S.A., the subsidiary of PGE, signed the annex to theagreement for designing and turn-key construction of power unit in Turówpower plant (the "Agreement"), about which PGE informed in the currentreport no. 36/2014 of July 10, 2014. Agreement is realized by theconsortium formed by companies: Mitsubishi Hitachi Power Systems EuropeGmbH, Budimex S.A. and Tecnicas Reunidas SA.

Due to need of technological adaptations and broader scope of works, thevalue of the Agreement has increased by PLN 108.5 million net to PLN3,647 million net, and date of completion of works has been prolonged by6 months, i.e. till October 30, 2020. Other provisions of the Agreementremain unchanged.