Estimated selected financial and operating data for the first quarter of2021

The Management Board of PGE Polska Grupa Energetyczna S.A. ("PGE")publishes initial selected consolidated financial and operating data forthe first quarter of 2021.

According to the initial estimates net electricity production at PGEgenerating units in the first quarter of 2021 amounted to 17.1 TWh,distribution volume arrived at 9.5 TWh and sales to final off-takerscame out at 9.7 TWh. Heat sales volume amounted to 23.0 PJ.

Consolidated EBITDA for the first quarter of 2021 amounted toapproximately PLN 2 206 m, including:

EBITDA of Conventional Generation segment PLN 511 m,

EBITDA of District Heating segment PLN 510 m,

EBITDA of Distribution segment PLN 658 m,

EBITDA of Supply segment PLN 352 m,

EBITDA of Renewables segment PLN 193 m.

EBITDA of Circular Economy segment* PLN 9 m.

* segment created as of January 1, 2021. The companies from this segmentpreviously operated in segments: Conventional Generation, DistrictHeating and Other operations.

Consolidated net profit attributable to equity holders of the parentcompany amounted to approximately PLN 808 m (i.e. earnings per share ofPLN 0.43). CAPEX amounted to PLN 839 m. Estimated net debt amounted toapproximately PLN 9 068 m as at March 31, 2021.

Average electricity wholesale price realized by Conventional Generationsegment in the first quarter of 2021 amounted to PLN 248.2 per MWh.

Disclaimer: Presented values are estimated and may change. Consolidatedfinancial statements of the PGE Group are still in the preparationprocess. The consolidated report for the first quarter of 2021 will bepublished on May 25, 2021.