Result of main capacity market auction for the year 2027

The Management of PGE Polska Grupa Energetyczna S.A. (“PGE”) discloses that on December 15, 2022, as a result of capacity market auction for the year 2027 (the main auction), total capacity obligation of not less than 1 184.374 MW has been contracted for units owned by PGE Group, including:

- 794.580MW in 17-years contract

- 179.625MW in 7-years contracts

- 210.169MW in 1-year contracts

Including long term contracts from previous auctions, PGE Group contracted not less than 9 400.619 MW of capacity obligations for 2027 delivery.

Auction clearing price has been set within the range between 372.51 and 406.35 PLN/kW/year and on the basis of article 38 par. 1 of the Capacity Market Act of December 8, 2017 - the price will be disclosed by PSE S.A. within 3 business days.

The above information was prepared on the basis of the announcement of PSE S.A. informing about the close of the capacity market auction and does not constitute final results of the 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.