PGNiG SA - PGNiG Notes Placed with the Group Subsidiaries

Warsaw, May 5th 2014

PGNiG Notes Placed with the Group Subsidiaries

Current Report No. 62 /2014

The Management Board of Polskie GórnictwoNaftowe i Gazownictwo SA ("PGNiG") reports on the acquisition of PGNiG debt securities by the Group subsidiaries.

On May 5th 2014, PGNiG issued notes (the"Notes") under the Short-Term Note Issue Programme dated December 1st 2010 (the "Programme"). The aggregate par value of the Notes is PLN 80,000,000.00 (eighty million złoty), including:

• 500 Notes with the total value of PLN50,000,000.00 (fifty million złoty), maturing on May 26th 2014 and yielding 2.76% per annum, which have been acquired by Polska Spółka Gazowictwa Sp. z o.o., in which PGNiG holds a 100% stake and has the right to 100% of the total vote at the General Meeting;

• 300 Notes with the total value of PLN30,000,000.00 (thirty million złoty), maturing on July 4th 2014 and yielding 2.82% per annum, which have been acquired by Polska Spółka Gazowictwa Sp. z o.o., in which PGNiG holds a 100% stake and has the right to 100% of the total vote at the General Meeting;

The par value of one Note is PLN 100,000.00(one hundred thousand złoty).

All the Notes are denominated in the Polishzłoty and have been offered in a private placement exclusively in the territory of Poland.

The Notes are unsecured discount bearernotes in book-entry form, and will be redeemed at par value.

PGNiG has no plans to introduce the Notesto public trading.

The Programme is a tool designed toeffectively manage short-term liquidity within the PGNiG Group.

Following the Note issue discussed above,the total par value of notes issued under the Programme and outstanding as at May 5th 2014 is PLN 415,500,000.00 (four hundred fifteen million five hundred thousand złoty).

More information on page: biznes.pap.pl

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