FAILURE TO FULFILL THE CONDITION SUSPENSION REGARDING THE ENTRY INTO FORCE OF THE CONDITIONAL LONG-TERM ENERGY SALES AGREEMENT (PPA) THAT IS PART OF THE PACKAGE OF PPA AND PPA+ AGREEMENTS AND STARTING NEGOTIATIONS REGARDING THE CONCLUSION OF A NEW LONG-TERM ENERGY SALES AGREEMENT (PPA)

The Management Board of the company under the name Polenergia S.A. (“Issuer”), in reference to current report No. 54/2023 of November 24, 2023 regarding the conclusion by the Issuer’s subsidiary – Polenergia Obrót S.A. (“POLO”) and McDonald’s Polska sp. z o. o. with its registered office in Warsaw (“McDonald’s”) of a conditional long-term energy sales agreement (PPA) included in the package of PPA and PPA + agreements (“PPA and PPA+ Package”), informs that on November 29, 2023, it received information about the failure to meet the condition suspending, i.e. failure to sign the Package of PPA and PPA+ agreements by POLO, McDonald’s and the minimum number of McDonald’s franchisees indicated in the Package of PPA and PPA+ agreements by November 28, 2023.

Due to the failure to meet the condition precedent, the PPA and PPA+ package did not enter into force. At the same time, POLO and McDonald’s started working on concluding a new package of PPA and PPA+ agreements between POLO, McDonald’s and the McDonald’s purchasing group (McDonald’s franchisees), providing for the sale of electricity and guarantees of origin in the period from January 1, 2024 to December 31, 2027 on commercial terms identical to those contained in the Package of PPA and PPA+ agreements.

Legal basis: art. 17 section 1 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 (Journal of Laws EU L. of 2014, No. 173, page 1, as amended)