PGE Polska Grupa Energetyczna S.A.

Regulatory Filings • Feb 23, 2018

New commissioning dates of units 5 and 6 in Opole power plant

With reference to the current report no. 47/2017, the Management Boardof PGE Polska Grupa Energetyczna S.A. ("PGE", the "Company") informsthat as a consequence of negotiations with the General Contractor(consortium of Polimex-Mostostal S.A., Mostostal Warszawa S.A. andRafako S.A.) (the "General Contractor") and GE Power acting as a generaldesigner and consortium leader managing the contract execution as wellas analysis by the Project team, new commissioning dates of units 5 and6 in Opole power plant have been estimated.

Modified commissioning dates declared by the General Contractor are: May31, 2019 for unit 5 and September 30, 2019 for unit 6.

The Project team have analysed the working schedule presented by theGeneral Contractor with regard to methodic accuracy of assumptionstaken, reasons for delay and planned methods of further management ofthe contract execution. In the opinion of the Project team, theexecution of the investment in above mentioned dates is possibleprovided that the General Contractor will act with the highestcommitment, introducing necessary conditions which will guarantee timelyexecution of works.

Due to the complex nature of the project and nature of delays, ongoingnegotiations with the General Contractor and GE Power have not beenfinalised yet.