Conditional agreement for sale of shares in PGG

The Management Board of PGE Polska Grupa Energetyczna S.A. (the_quot;Company_quot;, "PGE") discloses that on August 3, 2022 a ConditionalAgreement was signed for the sale of shares of Polska Grupa GórniczaS.A. (the "Shares Sale Agreement"), ("PGG"). The sellers in the SharesSale Agreement include: PGE Górnictwo i Energetyka Konwencjonalna S.A.(PGE's subsidiary), ECARB Sp. z o.o., PGNiG Termika S.A., ENEA S.A.,Polski Fundusz Rozwoju S.A., Towarzystwo Finansowe Silesia Sp. z o.o.and WĘGLOKOKS S.A., and the purchaser is the State Treasury of Republicof Poland (the "State Treasury").

According to the Shares Sale Agreement, PGE Górnictwo i EnergetykaKonwencjonalna S.A. will sell to the State Treasury all possessed sharesin PGG, i.e. 6 000 000 ordinary registered shares (representing 15.32%in the PGG's share capital), for the amount of PLN 1 for all possessedshares. The value of the investment in PGG in the PGE Group's latestpublished consolidated financial statements as at March 31, 2022 amountsto zero PLN, therefore the sale of PGG shares will not have asignificant impact on the net result of the Company and of the Group.

The transfer of the ownership of shares will take place provided thatthe National Support Centre for Agriculture (KOWR) will not exercise thepre-emption right, pursuant to art. 3a section 1 of the Act of April 11,2003 on the shaping of the agricultural system.

At the same time, the Company emphasizes that its intention is to informin the form of a current report only about the circumstances preventingthe completion of the Shares Sale Agreement, particularly about theexercising the pre-emption right by KOWR, that is mentioned above.