Signing of the syndicated loan

The Management Board of PGE Polska Grupa Energetyczna S.A. ("PGE")discloses that it has obtained information about signing of therevolving loan agreement (the "Agreement") by all the parties. TheAgreement was concluded with a syndicate consisting of the followingbanks: Powszechna Kasa Oszczędności Bank Polski S.A., Bank Polska KasaOpieki S.A., Bank of China (Europe) S.A. with its seat in Luxemburg,acting in Poland through its branch Bank of China (Europe) S.A. (SpółkaAkcyjna) Oddział w Polsce, Industrial and Commercial Bank of China(Europe) S.A. with its seat in Luxemburg, acting in Poland through itsbranch Industrial and Commercial Bank of China (Europe) S.A. (SpółkaAkcyjna) Oddział w Polsce, Alior Bank S.A. and Santander Bank PolskaS.A. ("Banki") (jointly the "Banks").

The subject matter of the Agreement includes granting by the Banks ofthe revolving loan of up to PLN 2 330 million (the "Loan"). The Loan maybe utilised for:

- finance the day-to-day operations of PGE S.A. and the Group inparticular in line with the long term Group strategy aiming at reductionof emissions and increase of production of electricity from renewablesources;

- finance investment and capital expenditure in connection with theoperations of PGE S.A. and the PGE group, other than investments in newcarbon assets;

- refinancing of the financial liabilities of PGE and PGE Group.

The Loan will be available for use as from the date of fulfilment of theconditions precedent specified in the Agreement. The Agreement providesfor interest periods not longer than 6 months. The final repayment datefalls on February 26, 2027. Interest rate of the Loan will be calculatedon the floating rate based on the relevant WIBOR rate (reference rate)plus margin. The margin may be periodically adjusted depending on theESG rating assigned to PGE by a specialised agency.

According to the provisions of the Agreement, PGE undertakes to keep theconsolidated net debt to consolidated EBITDA (the "Coverage Ratio") at alevel not higher than 4:1 in the case PGE holds investment grade creditrating (i.e. at BBB- or higher assigned by S_amp;P or Fitch and Baa3 orhigher assigned by Moody's) or at a level not higher than 3.5:1 in thecase PGE does not held investment grade credit rating.Inaddition, the Management Board of PGE informs that the Loan is notsecured on any of the assets of PGE or of the PGE Group.