PGE Group companies concluded agreement with PGNiG for gas supplies

The Management Board of PGE Polska Grupa Energetyczna S.A. (the_quot;Company_quot;, "PGE") discloses that on September 30, 2022, PGE'ssubsidiaries - PGE Energia Ciepła S.A., PGE Toruń S.A., ZespółElektrociepłowni Wrocławskich KOGENERACJA S.A. and PGE Gryfino 2050 Sp.z o.o. - concluded a framework agreement with Polskie Górnictwo Naftowei Gazownictwo S.A. ("PGNiG") for sale of gas fuel (the "Agreement")along with individual contracts, regulating commercial terms of gassupplies.

The Agreement, together with individual contracts, standardise the sofar diversified conditions of purchase of high-methane gas by PGE forall collection points. At the same time, supplies are guaranteed for thedecarbonisation investments pursued by PGE, inter alia PGE Gryfino(construction of two CCGT units at Dolna Odra power plant) and NewCzechnica CHP plant, including start-up period.

The framework agreement was concluded for an indefinite period, whilethe individual contracts secure supplies of gas for 10 generating unitsof PGE Group in period October 1, 2022 - December 31, 2025. Theestimated value of gas fuel under the Agreement and the individualcontracts amounts to approx. PLN 23 billion. The pricing formula appliedfor the individual contracts will be based on gas market price indices.