Recommendation not to pay dividend for 2023

The Management Board of PGE Polska Grupa Energetyczna S.A. (“PGE”, the “Company”) discloses that on April 3, 2024 it has decided on the recommendation not to pay dividend for 2023 to the PGE’s shareholders.

Decision was taken in accordance with the dividend policy and is a result of analysis of total Company’s indebtedness and expected capital expenditures, in the context of lack of implementation of coal assets carve-out project and deteriorating operational conditions of the coal-fired power plants that are reflected in results of the impairment tests of property, plant and equipment in the Conventional Generation segment.