The Management Board of PGE Polska Grupa Energetyczna S.A. (the “Company”) discloses that on October 22, 2019 it has decided to commence talks with Ørsted regarding the sale of a 50% stake in two off-shore wind farm projects with a total capacity of up to 2.5 GW and agreeing co-operation terms for their development.

The subject of talks will be a sale of 50% of the shares in each of Elektrownia Wiatrowa Baltica-3 sp. z o.o., which is developing a project with a planned capacity of approximately 1 GW by 2026, and Elektrownia Wiatrowa Baltica-2 sp z o.o., which is developing a project with a planned capacity of approximately 1.5 GW by 2030.

The Company will provide such updates as are required in separate announcements.