Submitting jointly with PGNiG of a non-binding offer for acquisition ofPolish assets of CEZ Group

The Management Board of PGE Polska Grupa Energetyczna S.A. ("PGE")discloses that on December 11, 2020 PGE and Polskie Górnictwo Naftowe iGazownictwo S.A. (the "Partners"), jointly submitted a non-binding offerto ČEZ a.s. ("ČEZ") to acquire Polish assets of ČEZ Group ( the"Transaction").

Transaction's target are subsidiaries of ČEZ, that carry out activitiesrelated to generation and sale of heat and electricity in Poland (CEZSkawina S.A. and CEZ Chorzów S.A.), as well as provision of dedicatedsupporting services with regard to: management of combustionby-products, communication, trading and corporate services (CEZ ProduktyEnergetyczne sp. z o.o. and CEZ Polska sp. z o.o.).

The Partners will continue to work together towards the submission of abinding offer.

The acquisition of the shares in the ČEZ Group's assets is in line withPGE Group's Strategy until 2030 announced on October 19, 2020 (currentreport no. 29/2020 dated October 19, 2020).