PGNiG SA PGNiG Notes Placed with the Group Subsidiaries

Warsaw, August 4th 2014

PGNiG Notes Placed with the Group Subsidiaries

Current Report No. 97 /2014

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

On August 4th 2014, PGNiG issued notes (the "Notes") under theShort-Term Note Issue Programme dated May 6th 2014 (the "Programme"). The aggregate par value of the Notes is PLN 20,000,000.00 (twenty million złoty), including:

• 200 Notes with the total value of PLN 20,000,000.00 (twenty millionzłoty), maturing on September 22nd 2014 and yielding 2.78% per annum, which have been acquired by Polska Spółka Gazownictwa 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 Polish złoty and have been offeredin a private placement exclusively in the territory of Poland.

The Notes are unsecured discount bearer notes in book-entry form, andwill be redeemed at par value.

PGNiG has no plans to introduce the Notes to public trading.

The Programme is a tool designed to effectively manage short-termliquidity within the PGNiG Group.

Following the Note issue discussed above, the total par value of notesissued under the Programme and outstanding as at August 4th 2014 is PLN 585,800,000.00 (five hundred eighty five million eight hundred thousand złoty).

More information on page: biznes.pap.pl

kom espi pif/