DECISION OF THE EUROPEAN COMMISSION NOT TO RAISE OBJECTIONS TO THE INDIVIDUAL AID GRANTED TO MFW BAŁTYK II SP. Z O.O. AND MFW BAŁTYK III SP. Z O.O.

The Management Board of Polenergia S.A. (“Issuer“), with reference to the report No. 18/2021 of May 4^th, 2024, informs that on August 13^th, 2024 it received  information about the issuance by the European Commission (“Commission“) of a decision confirming compatibility with the internal market (“Commission Decision”) of public aid granted to MFW Bałtyk II Sp. z o.o. and MFW Bałtyk III Sp. z o.o. by the decision of the President of the Energy Regulatory Office of 4^th May 2021 on granting the right to cover the negative balance for the offshore wind farm projects MFW Bałtyk 2 and MFW Bałtyk 3 (“Projects“).

The Commission’s decision was issued in the individual notification procedure, after which the Commission raised no objections to public aid granted at a level not exceeding PLN 319.60/MWh for electricity generated and fed into the grid under each of the Projects.

In accordance with the provisions of the Act on the Promotion of Electricity Generation in Offshore Wind Farms, the next step will be to obtain a decision of the President of the Energy Regulatory Office setting a specific price (not higher than the one resulting from the Commission’s decision) constituting, after inflation indexation, the basis for the settlement of the contract for difference in the 25-year support period. The regulatory authority has 90 days from the date of receipt of information about the Commission’s decision to issue the decision.

legal basis: Article 17(1) of Regulation (EU) No. 596/2014 of the European Parliament and of the Council on market abuse and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC (OJ L of 2014 No. 173, p.1 as amended).