Legal Restrictions 

IMPORTANT ELECTRONIC VERSIONS OF THE MATERIALS YOU ARE SEEKING TO ACCESS ARE BEING MADE AVAILABLE ON THIS WEBSITE BY PGE POLSKA GRUPA ENERGETYCZNA ("PGE GROUP" OR THE "COMPANY") FOR INFORMATION PURPOSES ONLY. ANY OPINION, ESTIMATE OR PROJECTION CONTAINED IN THE MATERIALS YOU ARE SEEKING TO ACCESS CONSTITUTES AN OPINION, ESTIMATE OR PROJECTION AS OF THE DATE OF SUCH MATERIALS, AND THERE CAN BE NO ASSURANCE THAT FUTURE RESULTS WILL BE CONSISTENT WITH ANY SUCH OPINION, ESTIMATE OR PROJECTION. THE INFORMATION IN THE MATERIALS YOU ARE SEEKING TO ACCESS IS PROVIDED AS OF ITS DATE, IS SUBJECT TO CHANGE WITHOUT NOTICE, MAY BE INCOMPLETE OR CONDENSED, AND IT MAY NOT CONTAIN ALL MATERIAL INFORMATION CONCERNING THE COMPANY.

THE MATERIALS YOU ARE SEEKING TO ACCESS ARE FOR YOUR PERSONAL USE ONLY AND IF SUCH MATERIALS ARE PRINTED, COPIED OR DOWNLOADED THEY MUST NOT BE SENT OR DISTRIBUTED TO ANY OTHER PERSON.

THE MATERIALS WHICH YOU ARE SEEKING TO ACCESS ARE OF AN EXCLUSIVELY PROMOTIONAL NATURE. ANY PUBLIC OFFERING OF THE COMPANY'S SHARES WITHIN THE TERRITORY OF POLAND WILL BE CONDUCTED ON THE BASIS OF AN ISSUE PROSPECTUS WHICH WILL BE PUBLISHED BY THE COMPANY. ANY PROSPECTUS, AS APPROVED BY THE POLISH FINANCIAL SUPERVISION COMMISSION, WILL BE THE ONLY LEGALLY BINDING OFFERING DOCUMENT CONTAINING INFORMATION ABOUT THE COMPANY AND THE COMPANY’S SHARES BEING OFFERED IN THE PUBLIC OFFERING. ANY PROSPECTUS WILL BE AVAILABLE ON THE COMPANY’S WEBSITE (WWW.PGESA.PL).

Non-U.S. Persons

NONE OF THE SECURITIES OF PGE GROUP DISCUSSED OR REFERRED TO IN THE MATERIALS YOU ARE SEEKING TO ACCESS HAVE BEEN REGISTERED UNDER THE U.S. SECURITIES ACT 1933, AS AMENDED ("SECURITIES ACT") AND SUCH SECURITIES MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT (1) IN AN OFFSHORE TRANSACTION MEETING THE REQUIREMENTS OF RULE 903 OR RULE 904 OF REGULATION S UNDER THE SECURITIES ACT, (2) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT, OR (3) PURSUANT TO AN AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, IN EACH CASE IN ACCORDANCE WITH ALL APPLICABLE SECURITIES LAWS. HEDGING TRANSACTIONS INVOLVING SUCH SECURITIES MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE SECURITIES ACT.

Pre-requisites for U.K. Persons

THE MATERIALS YOU ARE SEEKING TO ACCESS MAY ONLY BE ACCESSED BY AND ARE ONLY DIRECTED AT (A) PERSONS OUTSIDE THE UNITED KINGDOM, (B) INVESTMENT PROFESSIONALS FALLING WITHIN THE MEANING OF ARTICLE 19(5) OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 (FINANCIAL PROMOTION) ORDER 2005, AS AMENDED (THE "ORDER"), AND (C) HIGH NET WORTH COMPANIES, UNINCORPORATED ASSOCIATIONS AND OTHER PERSONS TO WHOM IT MAY LAWFULLY BE COMMUNICATED FALLING WITHIN ARTICLE 49(2)(A) TO (D) OF THE ORDER (ALL SUCH PERSONS TOGETHER BEING REFERRED TO AS "RELEVANT PERSONS"). ANY INVESTMENT OR INVESTMENT ACTIVITY TO WHICH THE FOLLOWING MATERIALS RELATE IS AVAILABLE ONLY TO PERSONS IN THE UNITED KINGDOM WHO ARE RELEVANT PERSONS AND WILL BE ENGAGED IN ONLY WITH SUCH PERSONS. ANY PERSON WHO IS NOT A RELEVANT PERSON SHOULD NOT ACT OR RELY ON THE MATERIALS HEREIN OR ANY OF THEIR CONTENTS.

THE MATERIALS YOU ARE SEEKING TO ACCESS DOES NOT CONTAIN OR CONSTITUTE AN OFFER OF SECURITIES FOR SALE, OR SOLICITATION OF AN OFFER TO PURCHASE SECURITIES, IN AUSTRALIA, CANADA OR JAPAN, OR ANY OTHER JURISDICTION WHERE SUCH AN OFFER OR SOLICITATION WOULD BE UNLAWFUL.

Confirmation of Understanding and Acceptance of Disclaimer

These materials are for informational purposes only and are not directed to nor are they intended for access by persons located or residents in the United States. I certify that I am not located in the United States and I am not a U.S. Person (as such terms are defined in Regulation S under the Securities Act). I have read and understood the disclaimer set out above. I understand that it may affect my rights. I agree to be bound by its terms.