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

The Management Board of Polenergia S.A. (“Issuer”) in reference to current reports No. 6/2020 of 6 March 2020 and 21/2020 of 8 September 2020 hereby reports that on 20 December 2021, the Court of Appeal in Gdańsk, in proceedings with ref. No.: I AGa 130/20 and I AGa 58/21 announced its judgement in a case brought by Talia Sp. z o.o. with its registered office in Łebcz (“Talia”) against Polska Energia – Pierwsza Kompania Handlowa Sp. z o.o. with its registered office in Warsaw, Poland (“PKH”), where it fully dismissed both appeals lodged by PKH, i.e. both (i) the appeal from the judgement of the District Court in Gdańsk of 6 March 2020, file ref. No. IX GC 451/15, as well as (ii) the appeal from the judgement of the District Court in Gdańsk of 8 September 2020, file ref. No. IX GC 451/15.

The judgement of 6 March 2020 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 are a confirmation for generation of electric energy in a renewable energy source – Wind Farm in Modlikowice, entered into between Talia and PKH on 23 December 2009 (“Property Rights Sale Agreement”) and agreement on sale of electric energy generated in a renewable energy source – Wind Farm in Modlikowice, entered into between Talia 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 Talia 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 judgement of 8 September 2020 is an additional judgement, by means of which the District Court in Gdańsk acknowledged the claims of Talia within the scope of a demand for compensation for PKH’s failure to perform the Energy 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 Talia 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).