Determination of the issue price of shares

In reference to the current report of the Company no. 16/2022, in which PGE Polska Grupa Energetyczna Spółka Akcyjna ("Company") published the resolutions adopted by the Extraordinary General Shareholders Meeting of the Company on April 6, 2022, including resolution no. 7 on the reduction of the share capital by decreasing the nominal value of shares and a simultaneous increase of the share capital by way of issuing E series shares in a private placement, depriving the existing shareholders of the entire pre-emptive right to all E series shares, applying for admission and introduction of E series shares or rights to E series shares to trading on the regulated market run by the Warsaw Stock Exchange, dematerialization of E series shares or rights to E series shares and amendment to the Company's Statute ("Issue Resolution"), the Management Board of the Company informs that after finalizing on April 7, 2022 the process of accelerated book building for series E shares issued on the basis of the Issue Resolution ("Series E Shares"), on the basis of the authorization contained in the Issue Resolution, it set the issue price of Series E Shares at PLN 8.55 (eight zloty 55/100) per one Series E Share.

Disclaimer: this current report and the information contained herein is restricted and is not intended for publication, announcement, distribution or transmission, directly or indirectly, in whole or in any part, in the territory of the United States of America, Australia, Canada, Japan or any other countries where such publication, announcement, distribution or transmission would be unlawful.

This report is published for the purpose of fulfilling information obligations of PGE Polska Grupa Energetyczna S.A. as an issuer of securities admitted to trading on a regulated market, and does not constitute securities offering in any jurisdiction.

Please read the legal disclaimer at the end of this current report.

Legal disclaimers:

This current report has been prepared in accordance with the requirements of Article 17(1) of the Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (Market Abuse Regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC and Article 56(1)(2) of the Act of 29 July 2005 on Public Offering, Conditions Governing the Introduction of Financial Instruments to Organised Trading, and Public Companies ("Public Offering Act").

This current report is of an informative nature only, it constitutes the fulfilment of information obligations of PGE Polska Grupa Energetyczna S.A. as a public company whose shares are admitted and introduced to trading on the regulated market run by the Warsaw Stock Exchange S.A and (i) is not made available for the purpose of promoting, directly or indirectly, the acquisition of securities of PGE Polska Grupa Energetyczna S.A. with its registered office in Warsaw or of encouraging, directly or indirectly, to purchase or subscribe for such securities and (ii) does not constitute any advertisement or promotional material prepared or published by the Company for the purpose of promoting the securities of PGE Polska Grupa Energetyczna S.A, (ii) does not constitute an advertisement or promotional material prepared or published by the Company for the purpose of promoting the securities of PGE Polska Grupa Energetyczna S.A., their subscription, purchase or offering, or to encourage investors, directly or indirectly, to purchase or subscribe for such securities.

This current report is not an advertisement within the meaning of Article 22 of Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market and repealing Directive 2003/71/EC.

This current report and the information contained herein is not intended for publication, announcement or dissemination, directly or indirectly, in or into the United States, or in other countries where public dissemination of the information contained herein may be restricted or prohibited by law. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States except for transactions not being subject to registration obligation under the U.S. Securities Act or pursuant to an exemption from such registration obligation.