Issuing a debit note to the consortium constructing unit no. 7 in Turów power plant

The Management Board of PGE Polska Grupa Energetyczna S.A. (“PGE”) discloses that on May 26, 2022 PGE Górnictwo i Energetyka Konwencjonalna S.A. (“PGE GiEK”), a PGE’s subsidiary, issued a debit note in amount of PLN 561 516 981.74 to the consortium of companies Mitsubishi Power Europe Gmbh, TECNICAS REUNIDAS S.A. and BUDIMEX S.A. (later jointly referred to as the “Consortium”). The Consortium carried out for PGE GiEK the project of designing and turn-key construction of power unit in PGE GiEK S.A. Branch Turów power plant (PGE informed about the signing of the agreement in the current report no. 36/2014 of July 10, 2014).

The unit was commissioned on May 14, 2021. The debit note concerns contractual penalty for failure to meet the availability factor of the unit in the first year of the guarantee period, that in accordance with the agreement was one of the technical parameters guaranteed by the Consortium.