Polski Koncern Naftowy ORLEN S.A. (“PKN ORLEN”) hereby informs that on 16 February 2015 it signed a spot agreement with Statoil ASA, company belonging to the Statoil group, for crude oil deliveries to PKN ORLEN.

The total estimated value of agreements signed between PKN ORLEN and PKN ORLEN subsidiaries (“ORLEN Capital Group”) and companies from the Statoil group in the last 12 months amounts to approximately PLN 1 884 million. The agreements between ORLEN Capital Group and companies from the Statoil group were concluded for the purchase of products and crude oil.

Agreement dated 21 July 2014 is the agreement with the highest value from among all agreements concluded between ORLEN Capital Group and Statoil group in the last 12 months. The estimated value of the agreement amounts to approximately USD 76 million (i.e. approximately PLN 233 million, based on the average PLN/USD exchange rate as of 21 July 2014, as stated by the National Bank of Poland). The agreement was signed for crude oil deliveries to AB ORLEN Lietuva. 

In accordance with the “Regulation of the Minister of Finance dated 19 February 2009 on current and periodic information to be published by issuers of securities and on the conditions under which such information may be recognized as being equivalent to information required by the regulations of law of a state which is not a member state” the abovementioned agreements constitute a “significant agreement” due to the fact that their total value exceeds 10% of PKN ORLEN’s equity.