The remuneration of all Members of the Management Board and the Supervisory Board of PGE S.A. is awarded in accordance with the provisions of the Remuneration Policy for Members of the Management Board and the Supervisory Board, as described in detail in the Management Board’s Report on the Activities of PGE Polska Grupa Energetyczna S.A. and the PGE Capital Group for 2024 (Section 7.6: Remuneration of the governing bodies of PGE S.A.).
In line with the principles of the Policy, the variable components of Management Board remuneration are designed to support the implementation of the Company’s business strategy, safeguard its long-term interests and stability, and incentivise the achievement of both general and specific management objectives.
The criteria for awarding variable remuneration (set at the level of general management objectives) also include, at a more detailed level – determined by the Supervisory Board – the consideration of social interests. These criteria serve as incentives that support the implementation of initiatives across the PGE CG aimed at environmental protection, preventing negative social impacts of the Company’s and the Group’s activities, and mitigating such impacts by adapting operations in line with ESG factors.
The bonus criteria for individual Members of the Management Board are designed to encourage action towards the achievement of key strategic objectives by linking remuneration to the execution of management processes aligned with the implementation of the business strategy of both the Company and the PGE Capital Group.
The management objectives set for the Management Board for 2024 relate to performance indicators in the areas of: climate change mitigation, climate change adaptation, and workers’ rights. The 2024 objectives did not include a direct reference to the reduction of absolute greenhouse gas emissions.
The management objectives applicable during the reporting period, which form part of the Company’s incentive system, were approved by resolution of the Supervisory Board of PGE S.A. on 24 June 2024.
During the reporting period, Members of the Supervisory Board were not entitled to any variable remuneration linked to the Company’s performance. They received only fixed remuneration, as set out in accordance with the current Remuneration Policy for Members of the Management Board and the Supervisory Board.