Estimated selected financial and operating data for the second quarterof 2023.

The Management Board of PGE Polska Grupa Energetyczna S.A. ("PGE")publishes initial selected consolidated financial and operating data forthe second quarter of 2023 (Q2 2023).

According to the initial estimates net electricity production at PGEGroup generating units in Q2 2023 amounted to 12.3 TWh, distributionvolume arrived at 9.4 TWh and sales to final off-takers came out at 8.6TWh. Heat sales volume amounted to 8.2 PJ.

Consolidated recurring EBITDA in Q2 2023 amounted to approximately PLN2.86 bn, including:

EBITDA of Conventional Generation segment PLN 0.46 bn,

EBITDA of District Heating segment PLN 0.35 bn,

EBITDA of Renewables segment PLN 0.23 bn.

EBITDA of Distribution segment PLN 1.00 bn,

EBITDA of Energy Railway Services segment PLN 0.27 bn,

EBITDA of Supply segment PLN 0.37 bn,

EBITDA of Circular Economy segment PLN 0.02 bn.

Estimated impact of contributions to Price Difference Payment Fund(resulting from the Act of 27 October 2022 on extraordinary measures tolimit the level of electricity prices and support for certain consumersin 2023 and the Regulation of the Council of Ministers on the method ofcalculating the price cap of 8 November 2022) in Q2 2023 amounted to PLN1.41 bn (decreasing financial results).

In addition, the results for Q2 2023 were influenced by one-off eventslowering reported EBITDA result by approx. PLN 0.41 bn. The non-cashitem of changes in reclamation provision, which translated into adecrease in EBITDA by PLN 0.33 bn had the greatest impact on the resultof the period.

In effect, consolidated reported EBITDA in Q2 2023 amounted toapproximately PLN 2.45 bn, including:

EBITDA of Conventional Generation segment PLN 0.10 bn,

EBITDA of District Heating segment PLN 0.31 bn,

EBITDA of Renewables segment PLN 0.24 bn,

EBITDA of Distribution segment PLN 0.98 bn,

EBITDA of Energy Railway Services segment PLN 0.27 bn,

EBITDA of Supply segment PLN 0.37 bn,

EBITDA of Circular Economy segment PLN 0.02 bn.

Consolidated net profit attributable to equity holders of the parentcompany amounted to approximately PLN 0.35 bn. CAPEX amounted to approx.PLN 2.40 bn. Estimated net debt amounted to approximately PLN 7.63 bn asat June 30, 2023, and estimated economic net financial debt (includingfuture payment for CO2 allowances) amounted to approx. PLN 19.25 bn.

Average electricity wholesale price realized in Q2 2023 (includingcontributions to Price Difference Payment Fund) by:

- Conventional Generation segment amounted to PLN 749.1 per MWh,

- Conventional Generation and District Heating segments amounted to PLN722.4 per MWh.

At the same time, the average cost of CO2 emission rights for bothsegments related to electricity generation amounted to PLN 440.4 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 HY 2023 is planned to be publishedon September 26, 2023.