NOTIFICATION ON CHANGE IN THE STATUS OF OWNERSHIP

Acting pursuant to Art. 70(1) of the Act on Public Offering, Conditions Governing the Introduction of Financial Instruments to Organised Trading and Public Companies (“Act”), the Management Board of the company operating under the business name of Polenergia S.A. (“Company”) hereby reports that on 21 September 2022, the Company received the notification of Generali Powszechne Towarzystwo Emerytalne S.A. managing the Generali Open Pension Fund (“Fund”), submitted pursuant to Art. 69 of the Act and pertaining to the decrease by the Fund of the share in the total number of votes in the Company below the threshold of 5%.

In line with the notification:

1. the decrease in the Fund’s share in the total number of votes in the Company took place as a result of a share sale transaction entered into on 16 September 2022;

2. before the change in the share, the Fund held 3,361,044 (in words: three million three hundred sixty-one thousand and forty-four) shares, which constituted 5.03% of the share in the Company’s share capital and 3,361,044 (in words: three million three hundred sixty-one thousand and forty-four) votes at the General Shareholders’ Meeting of the Company, which constituted 5.03% of the share in the general number of votes;

3. after settlement of the transaction, the Fund held 3,311,044 (in words: three million three hundred eleven thousand and forty-four) shares, which constituted 4.96% of the share in the Company’s share capital and 3,311,044 (in words: three million three hundred eleven thousand and forty-four) votes at the General Shareholders’ Meeting of the Company, which constitutes 4.96% of the share in the general number of votes;

4. there are no subsidiaries of the Fund holding the Company’s shares and there are no persons referred to in Art. 87(1)(3)(c) of the Act;

5. the number of votes from the shares, calculated in a mode specified in Art. 69b(2) of the Act, which the Fund would be authorised to acquire or would be liable for acquiring as a holder of financial instruments referred to in Art. 69b(1)(1) of the Act and the financial instruments referred to in Art. 69b(1)(2) of the Act, which are not exercised exclusively by means of cash settlement amounts to zero;

6. the number of votes from the shares, calculated in the mode specified in Art. 69b(3) of the Act, to which the financial instruments referred to in Art. 69b(1)(2) of the Act refer directly or indirectly amounts to zero;

7. the total number of votes calculated in line with Art. 69(4)(9) amounts to 3,311,044 (in words: three million three hundred eleven thousand and forty-four), which constitutes 4.96% of the share in the total number of votes.

Legal basis: Art. 70(1) of the Act.