PGE Polska Grupa Energetyczna S.A.

Regulatory Filings • Dec 17, 2020

Publication of preliminary results of main capacity market auction forthe year 2025

With reference to the current report no. 35/2020, the Management Boardof PGE Polska Grupa Energetyczna S.A. ("PGE") notifies that on December17, 2020 PSE S.A. published preliminary results of the main capacityauction for year 2025, including the clearing price of 172.85PLN/kW/year. The price of capacity obligation in multi-year contractswill be adjusted every year with the annual average consumer price index.

At the same time, the Management Board of PGE discloses that totalcapacity obligation of 364.15 MW has been ultimately contracted forgeneration units owned by PGE Group, including:

- 161.6 MW for modernized units with 7-years capacity contract

- 202.55 MW for existing units with 1-year capacity contract

The above clearing price is not a final result of power market 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.PGE will update this current report only if the final results ofcapacity market turn out substantially different from preliminaryresults.

Total capacity obligation contracted for generation units owned by PGEGroup for the year 2025, including long-term obligations contracted inthe auctions for the years 2021-2024, amounts to 10 037 MW.