PGE Polska Grupa Energetyczna S.A.

Regulatory Filings • Sep 27, 2017

Notification about proposal submitted by the general contractorconcerning changes of scheduled date of finalization of units 5 and 6 inOpole Power Plant

The Management Board of PGE Polska Grupa Energetyczna S.A. ("PGE", the"Company") notifies about information obtained today from Company'ssubsidiary PGE Górnictwo i Energetyka Konwencjonalna S.A. ("PGE GiEK")which received a proposal regarding changes of scheduled date offinalization of units 5 and 6 in Opole Power Plant, i.e. investmentbeing realized by consortium including companies: Polimex-MostostalS.A., Mostostal Warszawa S.A., Rafako S.A. (the "Consortium") and GEPower acting as a general designer and Consortium leader managing thecontract execution. The proposal submitted by Consortium involves changeof the investment realization schedule (the "Schedule"), and shallresult in postponing of the planned commissioning of unit 5 from July31, 2018 to December 20, 2018 and in case of unit 6 from March 31, 2019to July 31, 2019.

Proposal of changes to the Schedule submitted by the Consortium will bethoroughly analyzed for the methodic accuracy of assumptions taken,reasons for delay and planned methods of further management of thecontract execution. The analysis aims to result in evaluation ofcorrectness of estimates made by the Consortium regarding the delay ofcommissioning of units 5 and 6 and consequences of the postponing ofaforementioned dates. The Management Board of PGE notifies that theagreement of construction of units 5 and 6 signed on February 15, 2012,contains, as a standard course of action, contractual penalty clause inspecified cases. Parties to the agreement will analyze precise reasonsfor the delay also for possible penalty clauses.