Conclusion of a material agreement – syndicated loan

The Management Board of PGE Polska Grupa Energetyczna S.A. ("PGE") discloses that on September 7, 2015 PGE concluded a long-term loan agreement (the „Agreement”) with a syndicate of banks composed of: BNP Paribas S.A. Branch in Poland, Société Générale S.A., Bank Handlowy w Warszawie S.A., ING Bank Śląski S.A., Bank Zachodni WBK S.A., mBank S.A., Powszechna Kasa Oszczędności Bank Polski S.A. and Bank Polska Kasa Opieki S.A. (Organisers and Lenders, later referred to as „Banks”) and Bank Handlowy w Warszawie S.A. (as the Facility Agent).

Subject matter of the agreement is granting by the Banks a loan in two parts i.e. term loan facility of up to PLN 3,630 million and revolving loan facility of up to PLN 1,870 million. The Agreement expires on September 30, 2023, wherein final repayment date of the revolving loan facility falls on April 30, 2019 and final repayment date of the term loan facility falls on September 30, 2023. Interest rate on the loans will be based on the floating rate based on the relevant WIBOR rate (reference rate) plus margin. The agreement does not provide for contractual penalties.

The Agreement meets criteria of the material agreement since it exceeds value of 10% of PGE’s equity. The aggregate value of other agreements concluded by PGE and its subsidiaries with the Banks during 12 months preceding the signing of the Agreement amounted to approx. PLN 3.2 billion

Legal ground: § 9 in connection with § 5 section 1 point 3 of the Regulation of the Minister of Finance dated 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).