PGE Polska Grupa Energetyczna S.A.

Regulatory Filings • Dec 6, 2019

Result of main capacity market auction for the year 2024

The Management of PGE Polska Grupa Energetyczna S.A. ("PGE") disclosesthat on December 6, 2019, as a result of capacity market auction for theyear 2024 (the main auction), total capacity obligation of not less than4332 MW has been contracted for generation units owned by PGE Group.

Auction clearing price has been set within the range between 235,91 and269,58 PLN/kW/year and on the basis of article 38 par. 1 of the CapacityMarket Act of December 8, 2017 - the price will be disclosed by PSE S.Awithin 3 business days.

Total capacity obligation involves:

- 1 335 MW for new units (17-years capacity contract)

- not less than 2 957 MW for units being modernized (including 2 598 MWwith 5-years capacity contract and 359 MW with 7-years capacity contract)

- 40 MW for existing units (1-year capacity contract)

The above capacity obligations are not final results of capacity auction.

Final results are to be published by the President of Energy RegulatoryOffice on its website (in the section Biuletyn Informacji Publicznej) onthe first business day following 21st day after the close of capacityauction. Until then all capacity obligation contracts are conditional.