RECEIPT OF DECISION AWARDING THE RIGHT TO COVER THE NEGATIVE BALANCE BY PROJECT COMPANIES PERFORMING OFFSHORE WIND FARM CONSTRUCTION PROJECTS

The Management Board of Polenergia S.A. (“Issuer”) in reference to current report No. 15/2021 of 5 March 2021 and current report No. 17/2021 of 16 April 2021 (“Report 17/2021”) hereby reports that it was informed that on 4 May 2021 the President of the Energy Regulatory Office issued decisions with respect to project companies MFW Bałtyk II Sp. z o.o. and MFW Bałtyk III Sp. z o.o. (jointly referred to as the “Project Companies”) where the Issuer holds 50% of shares, on awarding – to each of the Project Companies – the right to cover the negative balance for electricity generated in offshore wind farms, MFW Bałtyk II and MFW Bałtyk III, respectively, with the capacity of 720 MW each (“Decisions”) (“Aid”). The decisions are compliant with the requests of the Project Companies.

Information pertaining to the effects of decision issues and further actions related to the granting of Aid is presented in Report 17/2021.

Furthermore, in reference to Report 17/2021, the Issuer reports that the estimated amount of additional payments resulting from the agreement pertaining to sale, among others, of shares in the Project Companies entered into on 5 March 2018 with Statoil Holding Netherlands B.V. about which the Issuer informed in current report No. 4/2018 on 5 March 2018 and which the Issuer intends to assign for further financing of project development will amount to – in reference to the offshore wind farm project implemented by MFW Bałtyk III Sp. z o.o. EUR 34,762 per every MW of installed capacity.

The Issuer shall publicly inform, in the form of current reports, about any relevant further information pertaining to the receipt of Aid.

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).