PGE Polska Grupa Energetyczna S.A.

M&A Activity • Jun 10, 2022

The fulfillment of the condition precedent of a conditional agreementfor acquisition of wind farms with a total capacity of 84.2 MW

With regard to the current report no. 14/2022 dated April 1, 2022, theManagement Board of PGE Polska Grupa Energetyczna S.A. ("PGE") disclosesthat PGE has been notified that it has obtained the consent of theOffice of Competition and Consumer Protection for the acquisition by PGEEnergia Odnawialna S.A. (subsidiary of PGE) of 100% of the shares ofCollfield Investments sp. z.o.o., a company holding of 100% of theshares in three SPVs operating three wind farms with a total capacity of84.2 MW (the "Transaction"). The condition precedent to the Transactionwas to obtain consent of the Office of Competition and ConsumerProtection.

Pursuant to the provisions of the conditional sale agreement, theclosing of the Transaction is to take place within five business days ofreceiving information about the fulfillment of the condition precedent,unless both parties agree otherwise.

The Transaction is part of the implementation of the PGE Group'sStrategy to 2030, announced on October 19, 2020, which assumes, interalia, over 1 GW of new capacity in onshore wind farms by 2030, includingthrough acquisitions.