PKN ORLEN wins back investment-grade standing

Today, Fitch Ratings has raised PKN ORLEN's credit rating to BBB-, with a 'stable' outlook, which means that after four years the Company has won back its investment-grade standing. This long-awaited change is a result of a consistent deleveraging effort and a policy aimed to maintain all financial ratios at safe levels, which has significantly improved the Company's credit standing, despite the persistently challenging climate for the industry across Europe. Fitch Ratings has also upgraded the Company's national rating to A- (pol), with a 'stable' outlook.

PKN ORLEN’s Q2 2013 Consolidated Financial Results

Despite the challenging macroeconomic and market conditions, PKN ORLEN recorded an increase in sales volumes across all business segments and maintained revenue at a level largely unchanged year on year. The Company improved its liquidity position, reducing debt by PLN 3.4bn year on year and decreasing financial leverage by 3pp on the year before.

PKN ORLEN General Meeting

Today, the Annual General Meeting of PKN ORLEN has approved the Directors' Reports on the Company's and Group's operations in 2012, accepted the Management Board's recommendation concerning payment of dividend for the previous financial year, and appointed seven members to the Company's Supervisory Board.

Statement by PKN ORLEN

In response to an article headlined 'PKN Orlen longs to be under Rosneft's wing' published on the website www.vedomosti.ru on June 27th, PKN ORLEN states that the information contained in the article is misleading and contrary to the facts.

The Ordinary General Meeting of PKN ORLEN

The Ordinary General Meeting of PKN ORLEN, convened to close the financial year 2012, is scheduled for today, at 11am. Its agenda includes a proposal to approve the performance of duties by members of the Company's supervisory and management boards, as well as resolutions on dividend amount and the composition of the Supervisory Board, whose term of office is due to expire.

ORLEN drills in Dobryniów

In the province of Lublin PKN ORLEN has spudded its eighth exploration well on unconventional prospects, located in the village of Dobryniów (commune of Łopiennik Górny, county of Krasnystaw).

Crude supplies for Unipetrol secured under first long-term contract

PKN ORLEN has signed a long-term contract for the supply of crude oil to the Czech Republic. The contract was signed during the St. Petersburg Economic Forum. The contracted volumes can cover from 60% to 100% of UNIPETROL's total demand for oil, depending on the economics of the contracted deliveries relative to the conditions prevailing on the crude oil market at a given time.

Consolidation of the procurement processes in the ORLEN Group

The procurement processes of 14 ORLEN Group companies, whose annual fulfilled orders amount to PLN 7bn, will be consolidated, thanks to the innovative CONNECT Procurement Platform launched by the Company. The CONNECT tool will be available at connect.orlen.pl for use by all potential contractors and will operate on four European markets in which the ORLEN Group companies have a presence.

PKN ORLEN Series B Bonds Already in Investors’ Portfolios

The Series B bonds have been subscribed for by over 2,000 investors, three times more than the number interested in buying the Series A bonds. The average purchase price was close to PLN 100,000. According to statistics, individual investors accounted for more than 90% of all subscription orders for the second series of PKN ORLEN retail bonds.