Result of main capacity market auction for the year 2023

The Management of PGE Polska Grupa Energetyczna S.A. (“PGE”) discloses that on December 21, 2018, as a result of capacity market auction for the year 2023 (the main auction), total capacity obligation of not less than 6 300 MW has been contracted for generation units owned by PGE Group. Capacity contracts have been concluded for one year. Auction clearing price has been set within the range of 217.06-189.95 PLN/kW/year and - on the basis of article 38 par. 1 of the Capacity Market Act of December 8, 2017 - will be disclosed by PSE S.A within 3 business days.The above capacity obligations are not final results of capacity auction. Final results are to be published by the President of Energy Regulatory Office on its website (in the section Biuletyn Informacji Publicznej) on the first business day following 21st day after the close of capacity auction. Until then all capacity obligation contracts are conditional.Total capacity obligation contracted for generation units owned by PGE Group for the year 2023, including long-term obligations contracted in the auction for the year 2021, amounts to not less than 10 943 MW.