Estimated selected financial and operating data for the first quarter of 2026

The Management Board of PGE Polska Grupa Energetyczna S.A. (“PGE”, the “Company”) publishes initial selected consolidated financial and operating data for the first quarter of 2026.

Consolidated recurring EBITDA in the first quarter of 2026 amounted to approx. PLN 4.14 bn, including respective segments:

Renewables: PLN 0.45 bn,

Gas-fired Generation: PLN 0.18 bn,

Coal Energy: PLN 0.28 bn,

District Heating: PLN 1.12 bn,

Distribution: PLN 1.48 bn,

Energy Railway Services: PLN 0.33 bn,

Supply: PLN 0.39 bn,

Other Operations and consolidation adjustments: PLN -0.09 bn.

The results for the first quarter of 2026 were influenced by one-off events decreasing reported EBITDA result by approx. PLN 56 m, including in particular:

- voluntary leave program (decrease by approx. PLN 28 m),

- adjustment of compensations for electricity for previous reporting periods (decrease by approx. PLN 24 m).

As a result consolidated reported EBITDA in the first quarter of 2026 amounted to approx. PLN 4.08 bn, including respective segments:

Renewables: PLN 0.45 bn,

Gas-fired Generation: PLN 0.18 bn,

Coal Energy: PLN 0.25 bn,

District Heating: PLN 1.12 bn,

Distribution: PLN 1.48 bn,

Energy Railway Services: PLN 0.33 bn,

Supply: PLN 0.37 bn,

Other Operations and consolidation adjustments: PLN -0.09 bn.

Consolidated net profit attributable to equity holders of the parent company amounted to approx. PLN 1.94 bn, i.e. PLN 0.86 per share and the consolidated net profit attributable to equity holders of the parent company excluding impairment of property, plant and equipment, intangible assets and right-of-use assets amounted to approx. PLN 1.99 bn, i.e. PLN 0.89 per share.

The following volumes were achieved in the first quarter of 2026:

- net electricity production: 16.5 TWh,

- electricity distribution: 11.5 TWh

- electricity sales to final off-takers: 8.1 TWh,

- heat sales: 23.6 PJ.

Average electricity wholesale price realized in the first quarter of 2026 in Coal Energy, Gas-fired Generation and District Heating segments jointly amounted to PLN 513 per MWh and respectively:

- PLN 528 per MWh in Coal Energy segment,

- PLN 495 per MWh in Gas-fired Generation segment,

- PLN 472 per MWh in District Heating segment.

The average cost of CO2 emission rights for above segments amounted to PLN 288 per MWh.

Capital expenditures amounted to approx. PLN 1.66 bn. Estimated net debt amounted to approx. PLN 5.64 bn as at March 31, 2026, while estimated economic net financial debt (including future payment for CO2 allowances) amounted to approx. PLN 15.45 bn.

Disclaimer: Presented values are estimated and may change. Consolidated financial statements of the PGE Capital Group are still in the preparation process. The consolidated report for the first quarter of 2026 is planned to be published on May 26, 2026.