PGE Polska Grupa Energetyczna S.A.

M&A Activity • Jun 21, 2022

Closing of the acquisition of wind farms with a total capacity of 84.2 MW

With regard to the current reports no. 14/2022 dated April 1, 2022 andno. 36/2022 dated June 10, 2022, the Management Board of PGE PolskaGrupa Energetyczna S.A. (_quot;PGE_quot;) discloses that on June 21, 2022 theclosing of the transaction with respect to the acquisition by PGEEnergia Odnawialna S.A. (a subsidiary of PGE) of 100% of the shares ofCollfield Investments sp. z. o.o., a company itself holding 100% of theshares in three special purpose vehicles owning three wind farms with atotal capacity of 84.2 MW (the _quot;Transaction_quot;) took place. TheTransaction value amounts to approximately PLN 939 million as at theTransaction's closing date based on certain mechanisms set out in theagreement. The Transaction value also includes cash in amount ofapproximately PLN 180 million in the accounts of Collfield and itssubsidiaries.

The transaction is part of the implementation of PGE's strategy until2030, announced on 19 October 2020, which provides, inter alia, over 1GW of new capacity in onshore wind farms by 2030, including throughacquisitions.