Estimated selected financial and operating data for 2021

The Management Board of PGE Polska Grupa Energetyczna S.A. (“PGE”) publishes initial selected consolidated financial and operating data for 2021.

According to the initial estimates net electricity production at PGE generating units in 2021 amounted to approximately 68.8 TWh, distribution volume arrived at 37.7 TWh and sales to final off-takers came out at 37.5 TWh. Heat sales volume amounted to 55.1 PJ.

Consolidated recurring EBITDA for 2021 amounted to approximately PLN 8 363m, including:

Conventional Generation segment PLN 2 613m,

District Heating segment PLN 844m,

Distribution segment PLN 2 746m,

Supply segment PLN 1 140m,

Renewables segment PLN 1 013m.

In addition, the results for 2021 were influenced by one-off events increasing EBITDA result by approx. PLN 1 385m. The non-cash item of changes in reclamation provision, which translated into an increase in EBITDA by PLN 1 463m had the greatest impact on the result of the period .

In effect, consolidated reported EBITDA for 2021 amounted to approximately PLN 9 748m, including:

Conventional Generation segment PLN 4 078m,

District Heating segment PLN 805m,

Distribution segment PLN 2 779m,

Supply segment PLN 1 062m,

Renewables segment PLN 1 016m.

Consolidated net profit attributable to equity holders of the parent company amounted to approximately PLN 4 155m. CAPEX amounted to PLN 4 662m. Estimated net debt amounted to approximately PLN 4 227m as at December 31, 2021.

Average electricity wholesale price realized in 2021 by:

- Conventional Generation segment amounted to PLN 270.9 per MWh,

- Conventional Generation and District Heating segments amounted to PLN 266.7 per MWh.

At the same time, the average cost of CO2 emission rights for both segments amounted to PLN 121.8 per ton.

Disclaimer: Presented values are estimated and may change. Consolidated financial statements of the PGE Group are still in the preparation process. The consolidated report for 2021 is planned to be published on March 22, 2022.