Signing of a term loan agreement with Bank Gospodarstwa Krajowego

The Management Board of PGE Polska Grupa Energetyczna S.A. ("PGE")discloses that on November 28, 2023 PGE has signed the loan agreement(the "Agreement") with Bank Gospodarstwa Krajowego ("BGK").

The subject matter of the Agreement includes granting by BGK of a termloan of up to PLN 2 500 million (the "Loan"). The Loan may be utilisedfor financing of the ongoing economic needs of PGE and investment needsof the 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 generally not longer than 6 months. Financingperiod is 5 years from the Agreement's signing date subject to possibleextension for a period not exceeding 3 years. The interest rate of theLoan will be calculated on the floating interest rate based on therelevant WIBOR rate (reference rate) plus margin. Margin of the Loan maybe adjusted depending on the ESG (Environmental, Social and Governance)rating assigned to PGE by a specialised, independent agency.

According to the provisions of the Agreement, PGE undertakes to keep theconsolidated net debt to consolidated EBITDA at a level not higher than4:1 in the case PGE holds investment grade credit rating (i.e. at BBB-or higher assigned by S_amp;P rating agency or Fitch rating agency and Baa3or higher assigned by Moody's rating agency) or at a level not higherthan 3.5:1 in the case PGE does not held investment grade credit rating.

In addition, the Management Board of PGE informs that the Loan is notsecured on any of the assets of PGE or of the PGE capital group.

After signing the above mentioned Agreement, total nominal value of theterm loan agreements from BGK amounts to PLN 4 billion while the totalnominal value of all financing agreements concluded with BGK amounts toPLN 8.35 billion.