PGE Polska Grupa Energetyczna S.A.

M&A Activity • Aug 10, 2023

Obtaining corporate approvals for accepting the proposal of the termsand conditions for the acquisition of 100% of shares in PGE GiEK by theState Treasury

With reference to the current report no. 24/2021 of July 23, 2021 onAgreement regarding co-operation in spin-off of coal assets to NationalEnergy Security Agency ("NABE") and to the current report no. 24/2023 ofJuly 15, 2023 on receipt of the proposal of the terms and conditions forthe acquisition of 100% of shares in PGE Górnictwo i EnergetykaKonwencjonalna S.A. by the State Treasury (the "Transaction"), theManagement Board of PGE Polska Grupa Energetyczna S.A. (the "Company","PGE") discloses that on August XX, 2023 the Management Board of theCompany adopted the resolution on giving consent to sigh document "NABEproject - summary of the terms and conditions of the transaction" onterms described in the above mentioned current report no. 24/2023. TheManagement Board of PGE indicates that the Transaction is in line withthe PGE Group's strategy until 2030 with 2050 perspective which assumescarve-out of coal assets from the PGE Capital Group.

PGE will inform about the further significant stages of the Transactionin separate current reports.