PGE Polska Grupa Energetyczna S A : Enclosure no. 2 - A draft of the consolidated text of the Company Statutes including the proposed amendments to the Company Statutes specified in Enclosure no. 1

Translation from the Polish language

THE STATUTES OF PGE POLSKA GRUPA ENERGETYCZNA

SPÓŁKA AKCYJNA

A consolidated text of the Company Statutes including the changes adopted by the Extraordinary General Meeting on March 7, 2022.

I GENERAL PROVISIONS------------------------------------------------------------------------

1. • 1
2. The Company shall conduct activities under the business name of "PGE Polska Grupa
   Energetyczna Spółka Akcyjna". -------------------------------------------------------------------
3. The Company may use a distinctive trademark. -------------------------------------------------
4. • 2

The location of the Company's registered office shall be Warsaw. ----------------------------------

§ 3

1. The Company's activities are: ----------------------------------------------------------------------

1. Mining of hard coal (PKD 05.10.Z), ------------------------------------------------------
2. Mining of lignite (PKD 05.20.Z),-----------------------------------------------------------
3. Mining of uranium and thorium ores (PKD 07.21.Z),-----------------------------------
4. Operation of gravel and sand pits; mining of clays and kaolin (PKD 08.12.Z),------
5. Mining and quarrying n.e.c. (PKD 08.9),--------------------------------------------------
6. Support activities for other mining and quarrying (PKD 09.90.Z),--------------------
7. Manufacture and processing of coke oven products (PKD 19.10.Z),------------------
8. Processing of nuclear fuel (PKD 24.46.Z),------------------------------------------------
9. Manufacture of metal structures and parts of structures (PKD 25.11.Z),-------------

1

Translation from the Polish language

1. Manufacture of electronic components (PKD 26.11.Z),---------------------------------
2. Manufacture of electricity distribution and control apparatus (PKD 27.12.Z),-------
3. Manufacture of wiring devices (PKD 27.33.Z),------------------------------------------
4. Manufacture of other electrical equipment (PKD 27.90.Z),----------------------------
5. Repair and installation of machinery and equipment (PKD 33),-----------------------
6. Electric power generation, transmission, distribution and trade (PKD 35.1),--------
7. Manufacture of gas; distribution of gaseous fuels through mains (PKD 35.2),------
8. Generation and supply of steam, hot water and air to air conditioning systems (PKD 35.3),------------------------------------------------------------------------------------
9. Water collection, treatment and supply (PKD 36.00.Z),---------------------------------
10. Sewerage (PKD 37.00.Z),-------------------------------------------------------------------
11. Waste collection, treatment and disposal activities; materials recovery (PKD 38),-
12. Remediation activities and other waste management services (PKD 39.00.Z),------
13. Development of building projects (PKD 41.10.Z),---------------------------------------
14. Construction of residential and non-residential buildings (PKD 41.20.Z), -----------
15. Construction of utility projects (PKD 42.2),----------------------------------------------
16. Construction of water projects (PKD 42.91.Z),-------------------------------------------
17. Construction of other civil engineering projects n.e.c. (PKD 42.99.Z),---------------
18. Specialised construction activities (PKD 43),---------------------------------------------
19. Wholesale on a fee or contract basis (PKD 46.1),----------------------------------------
20. Wholesale of other machinery and equipment (PKD 46.69.Z),------------------------
21. Other specialised wholesale (PKD 46.7),--------------------------------------------------
22. Freight rail transport (PKD 49.20.Z),------------------------------------------------------
23. Freight transport by road (PKD 49.41.Z),-------------------------------------------------
24. Transport via pipeline (PKD 49.50),-------------------------------------------------------
25. Warehousing and storage of other goods (PKD 52.10.B),------------------------------
26. Service activities incidental to land transportation (PKD 52.21.Z),--------------------
27. Cargo handling (PKD 52.24.C),------------------------------------------------------------

2

Translation from the Polish language

1. Telecommunications (PKD 61),------------------------------------------------------------
2. Computer programming, consultancy and related activities (PKD 62),---------------
3. Data processing, hosting and related activities (PKD 63.11.Z),------------------------
4. Other information service activities n.e.c. (PKD 63.99.Z),-----------------------------
5. Other monetary intermediation (PKD 64.19.Z),------------------------------------------
6. Activities of holding companies (PKD 64.20.Z),-----------------------------------------
7. Trusts, funds and similar financial entities (PKD 64.30.Z),-----------------------------
8. Other financial service activities, except insurance and pension funding (PKD 64.9),------------------------------------------------------------------------------------
9. Security and commodity contracts brokerage (PKD 66.12.Z),-------------------------
10. Other activities auxiliary to financial services, except insurance and pension funding (PKD 66.19.Z),----------------------------------------------------------------------
11. Buying and selling of own real estate (PKD 68.10.Z),----------------------------------
12. Rental and operating of own or leased real estate (PKD 68.20.Z), --------------------
13. Management of real estate on a fee or contract basis (PKD 68.32.Z),-----------------
14. Accounting, bookkeeping and auditing activities; tax consultancy (PKD 69.20.Z),-
15. Activities of head offices and holdings, except financial holdings (PKD 70.10.Z),-
16. Management consultancy activities (PKD 70.2), -----------------------------------------
17. Architectural and engineering activities and related technical consultancy (PKD71.1), ------------------------------------------------------------------------------------
18. Technical testing and analysis (PKD 71.20), ---------------------------------------------
19. Other research and experimental development on natural sciences and engineering (PKD 72.19.Z), -------------------------------------------------------------------------------
20. Market research and public opinion polling (PKD 73.20.Z), --------------------------
21. Specialised design activities (PKD 74.10.Z), ---------------------------------------------
22. Renting and leasing of other vehicles, with the exception of motorcycles (PKD 77.12.Z), ------------------------------------------------------------------------------
23. Renting and leasing of construction and civil engineering machinery and equipment (PKD 77.32.Z), ------------------------------------------------------------------
24. Renting and leasing of other machinery, equipment and tangible goods

3

Translation from the Polish language

n.e.c.(PKD 77.39.Z), -------------------------------------------------------------------------

1. 1. Security systems service activities (PKD 80.20.Z), -------------------------------------
   2. Business support service activities n.e.c. (PKD 82.9),-----------------------------------
   3. Regulation of and contribution to more efficient operation of businesses (PKD 84.13.Z), -------------------------------------------------------------------------------
   4. Defence activities (PKD 84.22.Z), ---------------------------------------------------------
   5. Other education n.e.c. (PKD 85.59).-------------------------------------------------------
2. The Company shall initiate a business activity requiring the acquisition of a licence or another permit, or requiring the fulfilment of other particular conditions specified in the applicable regulations after the acquisition of such a licence or permit, or meeting such conditions.--------------------------------------------------------------------------------------------
3. The Company shall conduct its activities in compliance with the applicable legal regulations. In particular, with respect to the activity referred to in clause 1 item 15:-----
4. 1. such activity shall be conducted in compliance with the requirements of the Energy Law of 10 April 1997, concerning, among other things, distribution system operators' remaining, with respect to their legal and organisational forms as well as decision making processes, independent of any other activities not connected with electricity distribution,---------------------------------------------
   2. the Company shall not conduct the activity consisting in the fulfilment of the functions of a power grid transmission system operator.----------------------------
5. The Company shall perform tasks connected with ensuring energy security for the Republic of Poland.----------------------------------------------------------------------------------

1. • 4
2. The Company may conduct its business activities in the territory of the Republic of Poland and abroad.----------------------------------------------------------------------------------
3. The Company may open and maintain branches, plants, bureaus, representative offices and other units; it may participate in other companies and undertakings in the territory of the Republic of Poland and abroad.------------------------------------------------------------
4. The Company may be a member of national and foreign associations.----------------------
5. • 5

The Company has been established for an indefinite period of time.--------------------------------

§ 6

1. The founder of the Company is the State Treasury.--------------------------------------------

4

Translation from the Polish language

1. Pursuant to Article 492 § 1 item 1 of the Commercial Companies Code, the Company (as the acquiring company) has been merged with the following companies: PGE Górnictwo i Energetyka S.A. with the registered office in Łódź, PGE Energia S.A. the registered office in Lublin.--------------------------------------------------------------------------
2. Pursuant to Article 492 § 1 item 1 of the Commercial Companies Code, the Company (as the acquiring company) has been merged with PGE Electra S.A. with the registered office in Warsaw. ------------------------------------------------------------------------------------
3. Pursuant to Article 492 § 1 item 1 of the Commercial Companies Code, the Company (as the acquiring company) has been merged with PGE Energia Jądrowa S.A. with the registered office in Warsaw.------------------------------------------------------------------------

II SHARE CAPITAL AND SHARES --------------------------------------------------------------

§ 7

Theshare capital of the Company shall be PLN 19,183,746,098.70 (say: nineteen billion one hundred and eighty-three million seven hundred and forty-six thousand and ninety-eight zloty and seventy groszy) and shall be divided into 2,243,712,994 (say: two billion two hundred and forty-three million seven hundred and twelve thousand nine hundred and ninety-four) shares with a par value of PLN 8.55 (say: eight zloty and fifty-five groszy) each, including: -----------

------------------

1. 1,470,576,500 series "A" bearer shares, --------------------------------------------------
2. 259,513,500 series "B" bearer shares, ---------------------------------------------------
3. 73,228,888 series "C" bearer shares, ------------------------------------------------------
4. 66,441,941 series "D" bearer shares, -----------------------------------------------------
5. 373,952,165 series "E" bearer shares. -----------------------------------------------------
6. • 8

1. Shares in the Company shall be bearer shares.--------------------------------------------------

2. A change of bearer shares to registered shares shall not be allowed.-------------------------	3.
All shares shall be ordinary shares. ----------------------------------------------------------------

1. • 9
2. Redemption of shares shall require a shareholder's consent.-----------------------------------
3. The principles, procedure and conditions of share redemption shall be each time determined by a resolution of the General Meeting. --------------------------------------------

III COMPANY GOVERNING BODIES -----------------------------------------------------------

§ 10

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