Signing of a conditional agreement for acquisition of wind farms with atotal capacity of 84.2 MW

The Management Board of PGE Polska Grupa Energetyczna S.A. ("PGE")discloses that on 1 April 2022 PGE Energia Odnawialna S.A. (PGE'ssubsidiary) and Vanadium Holdco Limited entered into a conditional saleagreement, under which PGE will acquire 100% of the shares in thecapital of Collfield Investments sp. z.o.o. (the "Agreement"),("Collfield"), a company holding of 100% of the shares in SPVs operatingthree wind farms with a total capacity of 84.2 MW (the "Transaction").The condition precedent of the Transaction is obtaining consent of theOffice of Competition and Consumer Protection. The closing of theTransaction is planned in the second quarter of 2022. Transaction valuewill amount to more than PLN 900 million and will be calculated at theTransaction's closing date, based on certain mechanisms set out in theAgreement. The Transaction value also includes cash in the accounts ofCollfield and its subsidiaries.

The Transaction is part of the implementation of the PGE Group'sStrategy to 2030, announced on October 19, 2020, which assumes, interalia, over 1 GW of new capacity in onshore wind farms by 2030, includingthrough acquisitions.