Estimated selected financial and operating data for the third quarter of2022

The Management Board of PGE Polska Grupa Energetyczna S.A. ("PGE")publishes initial selected consolidated financial and operating data forthe third quarter of 2022 (Q3 2022).

According to the initial estimates, net electricity production at PGEGroup generating units in Q3 2022 amounted to approximately 16.0 TWh,distribution volume arrived at 8.9 TWh and sales of electricity to finaloff-takers came out at 8.3 TWh. Heat sales volume amounted to 4.0 PJ.

Consolidated recurring EBITDA for Q3 2022 amounted to approximately PLN2 328m, including:

Conventional Generation segment PLN 576m,

District Heating segment PLN -8m (loss),

Distribution segment PLN 668m,

Supply segment PLN 486m,

Renewables segment PLN 561m,

Circular Economy segment PLN 17m.

In addition, the results for Q3 2022 were influenced by one-off eventsdecreasing EBITDA result by approx. PLN 402m. The non-cash item ofchanges in reclamation provision, which translated into an decrease inEBITDA by PLN 422m had the greatest impact on the result of the period.

In effect, consolidated reported EBITDA for Q3 2022 amounted toapproximately PLN 1 926m, including:

Conventional Generation segment PLN 157m,

District Heating segment PLN -10m (loss),

Distribution segment PLN 668m,

Supply segment PLN 509m,

Renewables segment PLN 561m,

Circular Economy segment PLN 17m.

Consolidated net profit attributable to equity holders of the parentcompany amounted to approximately PLN 654m. CAPEX amounted to PLN 1990m. Estimated net debt amounted to approximately PLN -1 837m as atSeptember 30, 2022, and estimated economic net financial debt (includingfuture payment for CO2 rights) amounted to approx. PLN 11.1bn.

Average electricity wholesale price realized in Q3 2022 by:

- Conventional Generation segment amounted to PLN 575.7 per MWh,

- Conventional Generation and District Heating segments amounted to PLN578.3 per MWh.

At the same time, the average cost of CO2 emission rights for bothsegments related to electricity generation amounted to PLN 329.8 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 third quarter of 2022 is planned tobe published on November 22, 2022.