Estimated selected financial and operating data for the third quarter of 2025

The Management Board of PGE Polska Grupa Energetyczna S.A. (“PGE”, the “Company”) publishes initial selected consolidated financial and operating data for the third quarter of 2025.

Consolidated recurring EBITDA in the third quarter of 2025 amounted to approx. PLN 2.96 bn, including respective segments:

Renewables: PLN 0.40 bn,

Gas-fired Generation: PLN 0.18 bn,

Coal Energy: PLN 0.21 bn,

District Heating: PLN 0.21 bn,

Distribution: PLN 1.30 bn,

Energy Railway Services: PLN 0.30 bn,

Supply: PLN 0.28 bn,

Other Operations and consolidation adjustments: PLN 0.08 bn.

The results for the third quarter of 2025 were influenced by one-off events decreasing reported EBITDA result by approx. PLN 313 m, including in particular:

- creation of a provision for restructuring of Dolna Odra power plant (decrease by approx. PLN 233 m),

- voluntary leave program (decrease by approx. PLN 64 m).

As a result consolidated reported EBITDA in the third quarter of 2025 amounted to approx. PLN 2.64 bn, including respective segments:

Renewables: PLN 0.40 bn,

Gas-fired Generation: PLN 0.18 bn,

Coal Energy: PLN -0.11 bn,

District Heating: PLN 0.21 bn,

Distribution: PLN 1.30 bn,

Energy Railway Services: PLN 0.30 bn,

Supply: PLN 0.29 bn,

Other Operations and consolidation adjustments: PLN 0.08 bn.

Consolidated net profit attributable to equity holders of the parent company amounted to approx. PLN 0.55 bn, i.e. PLN 0.25 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 0.75 bn, i.e. PLN 0.33 per share.

Following volumes were achieved in the third quarter of 2025:

- net electricity production: 12.6 TWh,

- electricity distribution: 9.7 TWh

- electricity sales to final off-takers: 7.7 TWh,

- heat sales: 3.5 PJ.

Average electricity wholesale price realized in the third quarter of 2025 in Coal Energy, Gas-fired Generation and District Heating segments jointly amounted to PLN 493 per MWh and respectively:

- PLN 487 per MWh in Coal Energy segment,

- PLN 536 per MWh in Gas-fired Generation segment,

- PLN 491 per MWh in District Heating segment.

The average cost of CO2 emission rights for above segments amounted to PLN 298 per MWh.

Capital expenditures amounted to approx. PLN 2.67 bn. Estimated net debt amounted to approx. PLN 0.37 bn as at September 30, 2025, while estimated economic net financial debt (including future payment for CO2 allowances) amounted to approx. PLN 15.51 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 third quarter of 2025 is planned to be published on November 25, 2025.