PGE Polska Grupa Energetyczna S.A.

Regulatory Filings • Nov 30, 2018

Annex to the agreement with Polska Grupa Górnicza S.A.

With reference to current report number 82/2013 the Management Board ofPGE Polska Grupa Energetyczna S.A. ("PGE") notifies that on November 30,2018 PGE has received the information that Polska Grupa Górnicza S.A.has signed an annex to the agreement dated August 13, 2013 concerninghard coal supplies for units 5 and 6 in Opole Power Plant (the "annex").

Parties of the annex adjusted arrangements to meet the current legal andformal requirements and abandoned the determination of hard coal pricebased on indicators involving the average electricity price, averagemarket price of hard coal and average cost of CO2 emission allowances.Parties of the agreement set hard coal price for the period tillDecember 31, 2022, whereas prices for the period beyond that date willbe determined upon negotiations.

Estimated value of the annex for 20 consecutive annual periods followingthe initial delivery amounts to approx. PLN 16 billion.