PGNiG: Satisfaction of conditions precedent to settlement agreement between Elektrociepłownia Stalowa Wola S.A. and Abener Energia S.A.

Further to Current Report No. 52/2021 of December 31st 2021 and Current Report No. 10/2022 of February 28th 2022 on the conclusion of a settlement agreement between Elektrociepłownia Stalowa Wola S.A. (“ECSW”) and Abener Energia S.A. of Campus Palmas Altas, Seville (“Abener Energia”) defining the terms on which ECSW and Abener Energia would settle mutual claims arising from all court and arbitration proceedings between the parties conducted in connection with the contract to construct a CCGT unit at Elektrociepłownia Stalowa Wola S.A. entered into between the parties on June 26th 2012 (the “Settlement Agreement”), the Management Board of Polskie Górnictwo Naftowe i Gazownictwo S.A. (“PGNiG” or the “Company”) announces that it has become aware that the conditions precedent to the Settlement Agreement have been satisfied, as a result of which the Settlement Agreement is taking effect and the parties are beginning to perform it.
PGNiG indirectly holds a 50% equity interest in ECSW through its subsidiary PGNiG Termika S.A.