Estimated selected financial and operating data for year 2024

The Management Board of PGE Polska Grupa Energetyczna S.A. ("PGE")publishes initial selected consolidated financial and operating data foryear 2024.

According to the initial estimates net electricity production at PGEGroup generating units in 2024 amounted to 56.2 TWh, distribution volumearrived at 40.6 TWh and sales to final off-takers came out at 33.7 TWh.Heat sales volume amounted to 47.3 PJ.

Consolidated recurring EBITDA in 2024 amounted to approximately PLN10.88 bn, including:

EBITDA of Renewables segment PLN 1.34 bn.

EBITDA of Gas-fired Generation segment PLN 0.15 bn,

EBITDA of Conventional Generation segment PLN 0.83 bn,

EBITDA of District Heating segment PLN 1.48 bn,

EBITDA of Distribution segment PLN 4.53 bn,

EBITDA of Energy Railway Services segment PLN 1.11 bn,

EBITDA of Supply segment PLN 1.39 bn,

EBITDA of Circular Economy segment PLN 0.07 bn.

The results for 2024 were influenced by one-off events increasingreported EBITDA result by approx. PLN 1.34 bn. The period's result wasmainly influenced by non-cash changes in the value of the reclamationprovision which translated into an increase in EBITDA by approx. PLN0.62 bn, and adjustment of compensations for electricity for previousyears which translated into an increase in EBITDA by approx. PLN 0.61 bn.

As a result consolidated reported EBITDA in 2024 amounted toapproximately PLN 12.21 bn, including:

EBITDA of Renewables segment PLN 1.34 bn,

EBITDA of Gas-fired Generation segment PLN 0.15 bn,

EBITDA of Conventional Generation segment PLN 1.63 bn,

EBITDA of District Heating segment PLN 1.51 bn,

EBITDA of Distribution segment PLN 4.57 bn,

EBITDA of Energy Railway Services segment PLN 1.07 bn,

EBITDA of Supply segment PLN 1.90 bn,

EBITDA of Circular Economy segment PLN 0.07 bn.

At the same time, with reference to the current reports no. 4/2025 ofJanuary 23, 2025 and no. 10/2025 of February 7, 2025, the ManagementBoard of PGE indicates that:

- following the impairment tests on property, plant and equipment at thePGE Capital Group level an impairment (of non-cash nature), amounting toapprox. PLN 7.4 bn gross, was made in Conventional Generation segmentwhat will lower the PGE Capital Group's consolidated gross result byapprox. PLN 7.4 bn,

- a write-down related to value of deferred tax asset (of non-cashnature) amounting to approx. PLN 2.4 bn was recognized in ConventionalGeneration segment what will lower the consolidated net result of thePGE Capital Group by approx. PLN 2.4 bn.

In effect, the consolidated net profit attributable to equity holders ofthe parent company amounted to approximately PLN - 3.16 bn (loss), i.e.PLN -1.41 per share and the consolidated net profit attributable toequity holders of the parent company excluding impairment of property,plant and equipment, intangible assets and right-of-use assets amountedto approx. PLN 3.11 bn, i.e. PLN 1.38 per share. Capital expendituresamounted to approx. PLN 10.32 bn. Estimated net debt amounted toapproximately PLN 11.05 bn as at December 31, 2024, and estimatedeconomic net financial debt (including future payment for CO2allowances) amounted to approx. PLN 17.20 bn.

Average electricity wholesale price realized in 2024 (includingcontributions to Price Difference Payment Fund) by:

- Conventional Generation segment amounted to PLN 589 per MWh,

- Gas-fired Generation segment amounted to PLN 669 per MWh,

- District Heating segment amounted to PLN 649 per MWh,

- Conventional Generation, Gas-fired Generation and District Heatingsegments jointly amounted to PLN 599 per MWh.

At the same time, the average cost of CO2 emission rights for abovementioned segments related to electricity generation amounted to PLN 362per MWh.

Disclaimer: Presented values are estimated and may change. Consolidatedfinancial statements of the PGE Group are still in the preparationprocess. The consolidated report for 2024 is planned to be published onApril 15, 2025.