Recommendation not to pay dividend for 2022

The Management Board of PGE Polska Grupa Energetyczna S.A. ("PGE", the"Company") discloses that on March 21, 2023 it has decided on therecommendation not to pay dividend for 2022 to the PGE's shareholders.

Decision was taken in accordance with the dividend policy and is aresult of analysis of Company's indebtedness, expected capitalexpenditures and planned acquisitions (in line with the PGE Group'sStrategy until 2030 with 2050 perspective, including acquisition of 100%shares in PKPE Holding Sp. z o.o.), in the context of prolonged marketvolatility and uncertainty.