END OF WORKS ON PREPARATION FOR THE OFFSHORE AUCTION IN LITHUANIA

With reference to current reports No. 56/2021 of December 31, 2021, No. 11/2022 of March 21, 2022 and No. 27/2022 of September 6, 2022, the Management Board of the Company under the name of Polenergia S.A. (the “Company”) informs that on July 28, 2023, it decided to finish works aimed at preparing for the auction of a wind farm project in the Baltic Sea in the region of the Lithuanian territorial sea or the exclusive economic zone of the Republic of Lithuania (“Project”), the submission of which was considered in the context of auction for offshore wind energy in Lithuania scheduled for the second half of this year.

The above decision was made after analysing the economic viability of the Project in the light of the published parameters regarding the planned auction (including the maximum transaction price announced by the National Energy Regulatory Authority (NERC) on July 13, 2023) and after consultations and in agreement with the Lithuanian company Modus Energy AB (operating under the Green Genius brand), which was to act as a local partner in the Project. Thus, the parties agreed that cooperation in this area ended.

The Company will continue to analyse potential investment and business opportunities on the Lithuanian market.

Legal basis: article 17 clause 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, 2003/1250/EC and 2004/72/EC (O.J. of the EU. L. of 2014 No. 173, page 1 as amended).