The Management Board of PGE Polska Grupa Energetyczna S.A. ("PGE")publishes initial selected consolidated financial and operating data forthe first quarter of 2018.

According to the initial estimates net electricity production at PGEgenerating units in the first quarter of 2018 amounted to approximately17.7 TWh, distrbution volume arrived at 9.2 TWh and sales to finaloff-takers came out at 10.5 TWh. Heat sales volume amounted to 23.5 PJ.

Consolidated EBITDA for the first quarter of 2018 amounted toapproximately PLN 2,214 m, including:EBITDA of ConventionalGeneration segment PLN 1,288 m,EBITDA of Distribution segment PLN638 m,EBITDA of Supply segment PLN 189 m,EBITDA of Renewablessegment PLN 114 m.

Consolidated net profit attributable to equity holders of the parentcompany amounted to approximately PLN 959 m (i.e. earnings per share ofPLN 0.51). CAPEX amounted to PLN 855 m. Estimated net debt amounted toapproximately PLN 7,740 m as at March 31, 2018.

Average electricity wholesale price realized by Conventional Generationsegment in the first quarter of 2018 amounted to PLN 172.2 per MWh (oncomparable basis, without acquired assets).

Disclaimer: Presented values are estimated and may change. Consolidatedfinancial statements of the PGE Group are still in the preparationprocess. The quarterly consolidated report for the first quarter of 2018will be published on May 15, 2018.