PGE Polska Grupa Energetyczna S.A.

Notice of Dividend Amount • May 11, 2017

Change of dividend policy

The Management Board of PGE Polska Grupa Energetyczna S.A. (the"Company") discloses that on May 11, 2017 it has decided to change thedividend policy.

Facing the need to finance an ambitious development program, with a viewto limit the increase of debt level, the Management Board of the Companyrecommends to suspend payment of dividend from the profit for years2016, 2017 and 2018.

After that period, the Management Board of the Company intends to make arecommendation to the General Meeting of the Company of dividend paymentfor shareholders at the level of 40-50% of the consolidated net profitattributable to the equity holders adjusted by the value of impairmentloss on property, plant and equipment and intangible fixed assets.

Each individual dividend payment will depend, in particular, on theCompany's overall indebtedness, expected capital expenditures andprospective acquisitions.

The dividend policy will be periodically verified by the ManagementBoard of the Company.