END OF THE PUBLIC OFFERING

The Management Board of the company under the name Polenergia S.A. (the “Company”) informs that on October 5th it received from the Central Securities Depository of Poland (Krajowy Depozyt Papierów Wartościowych S.A. (“KDPW”)) information on the results of basic and additional subscriptions as part of the public offering of series AB ordinary bearer shares of the Company (“Shares”) carried out on the basis of the Company’s prospectus approved by the Polish Financial Supervision Authority on September 11, 2023 (“Prospectus”) (“Offer”).

According to the information received from the KDPW, a total of 397 subscriptions for 10,835,130 Shares were submitted and paid, including 348 basic subscriptions for 10,316,073 Shares and 49 additional subscriptions for 519,057 Shares. Due to oversubscription, additional subscriptions will be reduced in total by approximately 80.62% in accordance with the rules arising from the Commercial Companies Code.

Taking into account the fact that all 10,416,667 offered Shares were included in the basic and additional subscriptions, the Management Board informs about the lack of necessity and possibility of carrying out subscriptions for Shares as part of the Offer for which no subscriptions were submitted in the exercise of the pre-emptive right and additional subscriptions, and thus about the termination of the offering with effect from September 28, 2023 (end date for accepting basic and additional subscriptions under the Offer).

The Company will update the expected timing of the Offering to reflect the completion of the Offering and the offering of the Shares by publishing an update notice in the Prospectus.

A detailed current report on the completion of the subscription for the New Issue Shares will be published in accordance with § 16 section 1 of the Regulation of the Minister of Finance of March 29, 2018 on current and periodic information submitted by issuers of securities and the conditions for recognizing as equivalent information required by the laws of a non-member state.

Legal Disclaimer:

This current report and the information contained therein are for informational purposes only and cannot constitute the basis for making a decision to invest in the Company’s shares, and therefore do not constitute and should not be interpreted as an offer, solicitation or invitation to sell or issue, or an offer, an attempt to solicit or an invitation to underwrite, purchase or otherwise acquire the Company’s securities or an encouragement/recommendation to undertake investment activities.

The Company’s Prospectus approved by the Polish Financial Supervision Authority on September 11, 2023, together with all published supplements and updates to the Prospectus, constitutes the only legally binding document containing information about the Company and the public offering of series AB ordinary bearer shares of the Company. The prospectus was made available to the public on September 11, 2023 in electronic form on the Company’s website (https://www.polenergia.pl/dla-inwestorow/oferta-publiczna-akcji/oferta-publiczna-akcji-2023/) and, for information purposes only, on the website of the investment company acting as an intermediary in the Offer (Santander Bank Polska S.A. – Santander Biuro Maklerskie).

This current report and the information contained herein are not intended for publication, announcement or dissemination, directly or indirectly, in or into the United States of America or any other country where public dissemination of the information contained herein may be restricted or prohibited by law.

The securities referred to in this material have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States of America except in transactions not subject to, or pursuant to, an exception to, the registration requirements of the Securities Act.

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