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Interim Report of the Pgnig Group for the Six Months Ended June 30Th 2019

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Interim Report of the Pgnig Group for the Six Months Ended June 30Th 2019 Polskie Górnictwo Naftowe i Gazownictwo S.A. Interim Report of the PGNiG Group for the six months ended June 30th 2019 Strona 1 z 2 PGNiG GROUP Interim Report for the six months ended June 30th 2019 CONSOLIDATED INTERIM REPORT OF THE PGNIG GROUP FOR THE SIX MONTHS ENDED JUNE 30TH 2019 CONTAINS: 1. AUDITOR’S REVIEW REPORT OF INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR SIX MONTHS ENDED JUNE 30TH 2019. 2. AUDITOR’S REVIEW REPORT OF INTERIM CONDENSED SEPARATE FINANCIAL STATEMENTS OF PGNiG S.A. FOR SIX MONTHS ENDED JUNE 30TH 2019. 3. INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OF THE PGNIG GROUP AND INTERIM CONDENSED FINANCIAL STATEMENTS OF PGNIG S.A. FOR SIX MONTHS ENDED JUNE 30TH 2019. 4. DIRECTORS’ REPORT ON THE OPERATIONS OF PGNIG S.A. AND THE PGNIG GROUP FOR SIX MONTHS ENDED JUNE 30TH 2019. 1. Independent Auditor’s Review Report on the condensed interim consolidated financial statements of The PGNiG Group with the registered office in Warsaw at Marcina Kasprzaka 25 Street for the period from 01.01.2019 to 30.06.2019 PKF Consult Spółka z ograniczoną odpowiedzialnością Sp. k. 02-695 Warsaw, No. 6 Orzycka Street Apt 1B, 2/2 the audit firm number 477, registered in District Court for the Capital City Warsaw in Warsaw, XIII Commercial Department of the National Court Register – KRS No. 0000579479 TRANSLATION This document is a free translation of the review report issued in Polish. Terminology current in Anglo-Saxon countries has been used where practicable for the purposes of this translation in order to enhance understanding. The binding Polish original should be referred to in matters of interpretation. INDEPENDENT AUDITOR’S REVIEW REPORT on condensed interim consolidated financial statements for the 6-month period from 1 January till 30 June 2019 To the General Meeting of Polskie Górnictwo Naftowe i Gazownictwo S.A. Introduction We have reviewed the accompanying condensed interim consolidated financial statements of PGNiG Group, in which the Parent Company is Polskie Górnictwo Naftowe I Gazownictwo S.A. with its registered office in Warsaw at Marcina Kasprzaka 25 Street, which comprise the introduction, consolidated statement of financial position as of 30 June 2019, consolidated income statement, consolidated statement of other comprehensive income, consolidated statement of changes in equity, consolidated statement of cash flows for the period from 1 January 2019 to 30 June 2019 and selected explanatory notes. Financial statements have been prepared in electronic format as a file titled Raport_okresowy_GKPGNiG_1H2019_PL and have been signed with qualified electronic signatures by the Management Board on 20 August 2019. Responsibility of the Management Board The Management Board of Polskie Górnictwo Naftowe I Gazownictwo S.A. is responsible for the preparation and presentation of these condensed interim consolidated financial statements in accordance with the International Accounting Standard 34 Interim financial reporting as adopted by the European Union, hereinafter referred to as IAS 34. Auditor’s Responsibility Our responsibility is to express a conclusion on these condensed interim consolidated financial statements based on our review. Scope of Review We conducted our review in accordance with National Standard on Review Engagements 2410 being International Standard on Review Engagements 2410 Review of Interim Financial Information Performed by the Independent Auditor of the Entity applicable to reviews of interim financial statements for periods ended 30 June 2019. A review of condensed interim consolidated financial statements consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with National Auditing Standards and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. PKF Consult Spółka z ograniczoną odpowiedzialnością Sp. k. 02-695 Warsaw, No. 6 Orzycka Street Apt 1B, 1/2 the audit firm number 477, registered in District Court for the Capital City Warsaw in Warsaw, XIII Commercial Department of the National Court Register – KRS No. 0000579479 TRANSLATION Conclusion Based on our review, nothing has come to our attention that causes us to believe that the accompanying condensed interim consolidated financial statements of PGNiG Group for 6-month period ended 30 June 2019 are not prepared, in all material respects, in accordance with IAS 34. Qualified electronic signature on the Polish original ___________________________________________ Cezary Bąkiewicz Statutory Auditor No. 12 232 on behalf of PKF Consult Spółka z ograniczoną odpowiedzialnością Sp. k. the audit firm number 477 ul. Orzycka 6 lok. 1B 02 – 695 Warsaw Warsaw, 20 August 2019 PKF Consult Spółka z ograniczoną odpowiedzialnością Sp. k. 02-695 Warsaw, No. 6 Orzycka Street Apt 1B, 2/2 the audit firm number 477, registered in District Court for the Capital City Warsaw in Warsaw, XIII Commercial Department of the National Court Register – KRS No. 0000579479 1. Independent Auditor’s Review Report on the condensed interim separate financial statements of Polskie Górnictwo Naftowe I Gazownictwo S.A. with the registered office in Warsaw at Marcina Kasprzaka 25 Street for the period from 01.01.2019 to 30.06.2019 PKF Consult Spółka z ograniczoną odpowiedzialnością Sp. k. 02-695 Warsaw, No. 6 Orzycka Street Apt 1B, 2/2 the audit firm number 477, registered in District Court for the Capital City Warsaw in Warsaw, XIII Commercial Department of the National Court Register – KRS No. 0000579479 TRANSLATION This document is a free translation of the review report issued in Polish. Terminology current in Anglo-Saxon countries has been used where practicable for the purposes of this translation in order to enhance understanding. The binding Polish original should be referred to in matters of interpretation. INDEPENDENT AUDITOR’S REVIEW REPORT on condensed interim separate financial statements for the 6-month period from 1 January till 30 June 2019 To the General Meeting of Polskie Górnictwo Naftowe i Gazownictwo S.A. Introduction We have reviewed the accompanying condensed interim separate financial statements of Polskie Górnictwo Naftowe I Gazownictwo S.A. with its registered office in Warsaw at Marcina Kasprzaka 25 Street, hereinafter referred to as the Company, which comprise the introduction, separate statement of financial position as of 30 June 2019, separate income statement, separate statement of other comprehensive income, separate statement of changes in equity, separate statement of cash flows for the period from 1January 2019 to 30 June 2019 and selected explanatory notes. Financial statements have been prepared in electronic format as a file titled Raport_okresowy_GKPGNiG_1H2019_PL and have been signed with qualified electronic signatures by the Management Board on 20 August 2019. Responsibility of the Management Board The Management Board of Company is responsible for the preparation and presentation of these financial statements in accordance with the International Accounting Standard 34 Interim financial reporting as adopted by the European Union, hereinafter referred to as IAS 34. Auditor’s Responsibility Our responsibility is to express a conclusion on these condensed interim separate financial statements based on our review. Scope of Review We conducted our review in accordance with National Standard on Review Engagements 2410 being International Standard on Review Engagements 2410 Review of Interim Financial Information Performed by the Independent Auditor of the Entity applicable to reviews of interim financial statements for periods ended 30 June 2019. A review of condensed interim separate financial statements consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with National Auditing Standards and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. PKF Consult Spółka z ograniczoną odpowiedzialnością Sp. k. 02-695 Warsaw, No. 6 Orzycka Street Apt 1B, 1/2 the audit firm number 477, registered in District Court for the Capital City Warsaw in Warsaw, XIII Commercial Department of the National Court Register – KRS No. 0000579479 TRANSLATION Conclusion Based on our review, nothing has come to our attention that causes us to believe that the accompanying condensed interim separate financial statements of Polskie Górnictwo Naftowe i Gazownictwo S.A. for 6-month period ended 30 June 2019 are not prepared, in all material respects, in accordance with IAS 34. Qualified electronic signature on the Polish original ___________________________________________ Cezary Bąkiewicz Statutory Auditor No. 12 232 on behalf of PKF Consult Spółka z ograniczoną odpowiedzialnością Sp. k. the audit firm number 477 ul. Orzycka 6 lok. 1B 02 – 695 Warsaw Warsaw, 20 August 2019 PKF Consult Spółka z ograniczoną odpowiedzialnością Sp. k. 02-695 Warsaw, No. 6 Orzycka Street Apt 1B, 2/2 the audit firm number 477, registered in District Court for the Capital City Warsaw in Warsaw, XIII Commercial Department of the National Court Register
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