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PGE Polska Grupa Energetyczna S.A.

M&A Activity • Dec 21, 2021

5758_rns_2021-12-21_fe9142c0-03a1-4977-ba00-d0913fe748ee.html

M&A Activity

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Updated information on submitting of an initial non-binding offer foracquisition of shares in Fortum Group's assets

With reference to current report no. 30/2020 dated October 27, 2020 andcurrent report 33/2020 dated November 16, 2020, the Management Board ofPGE Polska Grupa Energetyczna S.A. ("PGE", the "Company") discloses thattoday PGE has received a statement of Polskie Górnictwo Naftowe iGazownictwo S.A. (PGNiG) on withdrawal from participation in acquisitionof Polish assets of Fortum Group and from co-operation with PGEconducted for the purposes of the transaction process.

The Management Board of PGE informs that the Company is still interestedin acquiring Polish assets of Fortum Group, particularly districtheating network in Wrocław, and will analyse possibility of furtherparticipation in the sale process.