Signing of an Annex to the Framework Agreement on the Joint Exploration for and Extraction of Shale Gas

In connection with the current report no 38/2012 dated July 4, 2012, the Management Board of PGE Polska Grupa Energetyczna S.A. (“PGE”) discloses that on November 12, 2012 PGE signed an Annex (the “Annex”) to the Framework Agreement on the Exploration for and Extraction of Shale Gas of July 4, 2012 (the “Agreement”). The parties of the Annex are all parties of the Agreement (later jointly referred to as the “Parties”). The Parties decided to prolong the period for determination of details regarding the terms of cooperation until February 4, 2013.

Should such specific arrangements not be determined by February 4, 2013, the Agreement may be terminated by each of the Parties. Moreover, if within three months after reaching such arrangements the Parties have not received all of the required corporate approvals, or if by December 31, 2013 the required antimonopoly clearances have not been received, the Agreement will expire.

The above change of dates is connected with the ongoing negotiations with regard to detailed terms of cooperation, including, inter alia, the preparation of project’s documentation.

Legal basis: Art. 56 sec. 5 of the Act dated July 29, 2005 on Public Offerings and Conditions Governing the Introduction of Financial Instruments to Organised Trading, and on Public Companies (Dziennik Ustaw of 2009 No. 185, item 1439).