Expressing consent to incur an obligation by accepting the offer and concluding a contract with PGE Energetyka Kolejowa S.A.

Management Board of PKP CARGO S.A. in restructuring (“PKP CARGO”, “Issuer”) informs that on December 20, 2024, the Supervisory Board of PKP CARGO agreed to the Issuer’s obligation to accept the offer (“Offer”) and conclude an agreement (“Agreement”). on “Electricity Sales and Distribution Services” between PKP CARGO and PGE Energetyka Kolejowa S.A. based in Warsaw.

The subject of the Agreement is the sale of electricity and the provision of Traction Energy distribution services for the purposes of conducting transport activities using electric traction on trains belonging to PKP CARGO and for the needs of trains operated by other carriers using PKP CARGO electric locomotives, which are not charged for the electricity consumed on the basis of separate contracts. The agreement specifies the amount of contracted power in the settlement period and the forecast volume of Traction Energy consumption.

The Agreement binds the Parties for the period from January 1, 2025 to December 31, 2026.
The expected value during the validity period amounts to a total of PLN 967,757,713.36 net. (PLN 1,190,341,987.43 gross).

The model for determining the energy price applicable in particular years is specified in the Electricity Sales Offer, which constitutes an integral part of the Agreement.

The Offer specifies that in the event of a change in the regulations in force on the date of submission of the offer, the price of electricity will be adjusted according to the principles specified in the Offer.

The contract was considered significant due to its value and subject matter.