Changes in the Management Board

The Management Board of PGE Polska Grupa Energetyczna S.A. (the “Company”, “PGE”) discloses that on February 13, 2017 the Supervisory Board adopted resolutions on dismissal of following persons from the Management Board effective February 13, 2017:

- Mr. Henryk Baranowski, President of the Management Board;

- Ms. Marta Gajęcka, Vice-President for Market Development and International Relations;

- Mr. Bolesław Jankowski, Vice-President for Trading;

- Mr. Marek Pastuszko, Vice-President for Corporate Affairs;

- Mr. Paweł Śliwa; Vice-President for Innovations;

- Mr. Ryszard Wasiłek, Vice-President for Development;

- Mr. Emil Wojtowicz, Vice-President for Finance.

At the same time, the Management Board of PGE discloses that the Supervisory Board adopted resolutions on:

- appointment of Mr. Henryk Baranowski to the Management Board of the tenth term of office as from February 14, 2017 and entrusting him the position of the President of the Management Board;

- appointment of Mr. Marek Pastuszko to the Management Board of the tenth term of office as from February 14, 2017 and entrusting him the position of the Vice-President for Corporate Affairs;

- appointment of Mr. Bolesław Jankowski to the Management Board of the tenth term of office as from February 14, 2017 and entrusting him the position of the Vice-President for International Affairs;

- appointment of Mr. Wojciech Kowalczyk to the Management Board of the tenth term of office as from February 14, 2017 and entrusting him the position of the Vice-President for Capital Investments;

- appointment of Mr. Paweł Śliwa to the Management Board of the tenth term of office as from February 14, 2017 and entrusting him the position of the Vice-President for Innovations;

- appointment of Mr. Emil Wojtowicz to the Management Board of the tenth term of office as from February 14, 2017 and entrusting him the position of the Vice-President for Finance;

- appointment of Mr. Ryszard Wasiłek to the Management Board of the tenth term of office as from February 14, 2017 and entrusting him the position of the Vice-President for Operations.

Other information about the Management Board members, required pursuant to § 28 of the Regulation of the Polish Minister of Finance of February 19, 2009 on current and periodic information published by issuers of securities and on conditions under which such information may be recognized as being equivalent to information required by the regulations of law of a state which is not a member state. (Dziennik Ustaw of 2014 item 133, as amended), will be published by the Company in a separate current report at a later date.

Legal ground: § 5 section 1 p. 21 and 22 and § 27 and 28 of the Regulation of the Polish Minister of Finance of February 19, 2009 on current and periodic information published by issuers of securities and on conditions under which such information may be recognized as being equivalent to information required by the regulations of law of a state which is not a member state. (Dziennik Ustaw of 2014 item 133, as amended).