SIGNING A LETTER OF INTENT ON POTENTIAL COOPERATION WITHIN THE SCOPE OF DEVELOPMENT OF GAS CO-GENERATION PROJECTS AND HYDROGEN TECHNOLOGIES

The Management Board of Polenergia S.A. (“Issuer”) hereby reports that on 29 June 2020, the Issuer signed a letter of intent with Siemens Gas and Power GmbH & Co. KG, Siemens Energy Sp. z o.o. and Polenergia International S.à r.l. on potential cooperation within the scope of development of gas co-generation projects and hydrogen technologies. Thus, the Issuer commenced to implement the strategy of the Polenergia Group adopted in May this year, with information about it provided in current report No. 11/2020 of 18 May 2020 in a part pertaining to the industrial application of highly-efficient co-generation relying on natural gas combustion, as well as introduction of solutions enabling sustainable production and use of hydrogen. In line with the letter of intent, the signatories will jointly analyse potential investment projects along with application of technologies offered by Siemens with respect to specific projects, which may result in conclusion of binding agreements and joint performance of investment projects both in reference to the Issuer’s and third party’s assets.

Legal basis: § 17(1) of Regulation of the European Parliament and of the Council (EU) No. 596/2014 of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and Council, as well as Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC (Official Journal of the European Union L of 2014, No. 173, p. 1 as amended).