Result of main capacity market auction for the year 2025

The Management of PGE Polska Grupa Energetyczna S.A. ("PGE") disclosesthat on December 14, 2020, as a result of capacity market auction forthe year 2025 (the main auction), total capacity obligation of 364.15 MWhas been contracted for generation units owned by PGE Group.

Including long term contracts form previous auctions, PGE Groupcontracted 10 037 MW of capacity obligations for 2025 delivery.

Auction clearing price has been set within the range between 172.86 and207.40 PLN/kW/year and on the basis of article 38 par. 1 of the CapacityMarket Act of December 8, 2017 - the price will be disclosed by PSE S.A.within 3 business days.

Total capacity obligation involves not less than 161.6 MW for unitsbeing modernized (with 7-years capacity contract) and not less than 200MW for existing units (with 1-year contract). No 15-year and 17-yearcontracts were obtained.

The above capacity obligations are not final results of capacity auction.

Final results are to be published by the President of Energy RegulatoryOffice on its website (in the section Biuletyn Informacji Publicznej) onthe first business day following 21st day after the close of capacityauction. Until then all capacity obligation contracts are conditional.