Zespól Elektrocieplowni Wroclawskich KOGENERACJA S A : Delegation of a member of the Supervisory Board to temporarily perform the activities of the Member of the Management Board

Kancelaria Publiczna GPW [Public Chambers of WSE]

Wrocław, 21 February 2020

Current Report 4/2020

Subject: Delegation of a member of the Supervisory Board to temporarily perform the activities of the Member of the Management Board

Acting as persons authorized to represent Zespół Elektrociepłowni Wrocławskich KOGENERACJA S.A. we hereby give notice that the Supervisory Board adopted a resolution on delegation of the member of the Supervisory Board, Mr. Radosław Woszczyk to temporarily perform the activities of the Member of the Management Board as from February 21st, 2020, but not longer than for a period of three months.

The Supervisory Board accepted the simultaneous employment of Mr. Radosław Woszczyk in PGE S.A. as the Deputy Director of Controlling Department and holding the position of a Member of the Management Board of PGE Energia Ciepła S.A. during the performance of duties of the Member of the Management Board in Zespół Elektrociepłowni Wrocławskich KOGENERACJA S.A.

Mr. Radosław WOSZCZYK is a graduate of the Warsaw School of Economics, and also completed a postgraduate study organized by the Warsaw School of Economics and the Ernst & Young Academy of Business in the field of International Financial Reporting Standards and International Accounting Standards. In 2007, he obtained the right to act as a member of the supervisory board in state-owned companies.

Mr. Radosław Woszczyk has over 23 years of professional experience in management, financial controlling, restructuring and transformation processes as well as strategic and operational planning. He worked in managerial positions in manufacturing, energy and ICT companies. During his professional career he was responsible for creating and implementing strategies, optimizing management processes, preparing financial plans and restructuring programs. He participated in many projects of restructuring the energy sector, including the creation of a transmission system operator, the creation of PGE Polska Grupa Energetyczna and the introduction of this company on the WSE. Since 2003, he has been a member of the supervisory boards of commercial law companies.

He started his professional activity in 1993. He worked, among others as the main financial controller in Zakłady Płyt Wiórowych SA in Grajewo and in Wieruszów, a member of the Board of Directors of SwePol Link AB based in Stockholm and as the deputy director and director of the organizational units of controlling and finance in the companies: Polskie Sieci Elektroenergetyczne SA, PGE Polska Grupa Energetyczna SA, PGE Energia Natury Sp. z o.o. In the years 2015 - 2016 he was a member of the management board of Exatel S.A. From January 2018, he has been a member of the Management Board of PGE Energia Ciepła S.A.

According to his statement Mr. Radosław Woszczyk is not engaged in any business competing with KOGENERACJA S.A., does not participate in any companies competitive against KOGENERACJA S.A. as a shareholder of civil private partnerships and partnerships or as a member of any body of an association of capital or in any other legal entity competitive against KOGENERACJA S.A. as a member of its body; he is not registered in the Register of Insolvent Debtors maintained pursuant to the Act on the National Court Register.

Legal basis: Article 56 item 1 section 2 of the Act on Public Offering, Conditions Governing the Introduction of Financial Instruments to Organised Trading, and Public Companies (Dz. U. [Journal of Laws] of 2018, item 512, as amended);

• 5 item 5 and § 10 of the Ordinance by the Minister of Finance of March 29, 2018 on current and interim information communicated by issuers of securities and on the conditions for regarding as equivalent the information required by the provisions of law in force in a non-Member State (Dz. U. [Journal of Laws] of 2018, item 757).