Estimated selected financial data for the first half of 2016 andinformation on non-cash one-off items affecting the consolidated resultsof the period.The Management Board of PGE PolskaGrupa Energetyczna S.A. ("PGE", the "Company") publishes estimatedselected financial data for the first half of 2016: consolidated EBITDAwill amount to approx. PLN 3.1 billion; net profit attributable toequity holders of the parent company will amount to approximately PLN0.5 billion;

The above estimates include planned recognition of the followingnon-cash one-off items in the consolidated financial statements for thefirst half of the year 2016:

I. At the EBITDA level: 1) Revenues due to termination of long-termcontracts for sale of capacity and electricity (so-called "LTCcompensations") in amount of approximately PLN 401 million (includingPLN 148 million from court verdicts) accordingly increasing the reportedEBITDA, 2) revaluation of balance sheet value of property rights at PGEGiEK Branch ZEDO decreasing reported EBITDA by approximately PLN 118million.

II. At the level of net result attributable to equity holders of theparent company: 1) Revenues due to termination of long-term contractsfor sale of capacity and electricity (so-called "LTC compensations") -approximately PLN 325 million, accordingly increasing the reported netresult, 2) revaluation of balance sheet value of property rights at PGEGiEK Branch ZEDO decreasing reported net result by approximately PLN 96million, 3) impairment of assets of the Renewables segment ofapproximately PLN 0.8 billion - decreasing reported net income byapproximately PLN 0.7 billion.

The Management Board of PGE explains that lower generation volume andlower realized wholesale price of electricity had the key impact onperiod's results. In addition the period's results were negativelyaffected by costs of CO2 emission which increased y-o-y by approximatelyPLN 160 million. Furthermore, compared to the first half of 2015, thecapitalized cost of mining preparatory works (IFRIC 20) was lower by PLN124 million (accounting recognition of mining preparatory works hadpositive contribution to results of the base period).

Disclaimer: financial statements of the PGE Group are still beingreviewed by the auditor. Presented values are estimated and may change.The consolidated half-year report for the first half of 2016 will bepublished on August 9, 2016.