JUDGEMENT OF THE COURT OF APPEAL IN GDAŃSK DISMISSING THE DEFENDANT’S APPEALS IN A CASE BROUGHT BY AMON SP. Z O.O. TO DETERMINE INVALIDITY OF DECLARATIONS ON TERMINATION OF AGREEMENTS AND PAYMENT OF COMPENSATION

The Management Board of the company operating under the business name of Polenergia S.A. (“Issuer”), in reference to current reports No. 14/2015 of 23 March 2015, No. 24/2019 of 25 July 2019 and No. 4/2020 of 7 February 2020, hereby reports that on 17 November 2022, the Court of Appeals in Gdańsk, in proceedings with ref. No. I AGa 146/20, announced judgement in a case brought by Amon Sp. z o.o. with its registered office in Łebcz (“Amon”) against Polska Energia – Pierwsza Kompania Handlowa Sp. z o.o. with its registered office in Warsaw (“PKH”), in which it fully dismissed the appeal brought by PKH from the judgement of the District Court in Gdańsk of 25 July 2019, file ref. No. IX GC 449/15.

The judgement of 25 July 2019 is a partial and initial judgement, by means of which the District Court in Gdańsk (i) determined invalidity of declarations contained in letters of PKH of 18 March 2015 on termination of the agreement on sale of property rights resulting from the certificates of origin, which confirm generation of electric energy in a renewable energy source – a Wind Farm in Łukaszów, entered into between Amon and PKH on 23 December 2009 (“Property Rights Sale Agreement”) and agreement on sale of electric energy generated in a renewable energy source – a Wind Farm in Łukaszów, entered into between Amon and PKH on 23 December 2009 (“Energy Sale Agreement”), as a result of which after the lapse of the notice period, i.e. after 30 April 2015, the Property Rights Sale Agreement and the Energy Sale Agreement remain valid with respect to all provisions and bind the parties and (iii) acknowledged the claims of Amon within the scope of demands for payment of compensation for PKH’s failure to perform the Property Rights Sale Agreement as justified in principle.

The aforementioned judgements are final and valid, which means that both the issue of invalidity of declarations of PKH on termination of the Agreements, as well as the principle of PKH’s liability for the damage of Amon related to the failure to perform the long-term Agreement have been ultimately settled.

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