Successful issue of eurobonds underwrited by PKN ORLEN

Based on a thorough analysis of the market and investor demand, PKN ORLEN, through its subsidiary ORLEN Capital AB, has issued EUR 500m of eurobonds which will pay interest at an annual rate of 2.5%.

Summary of PKN ORLEN retail bond issue costs

PKN ORLEN has made a final calculation of the aggregate costs incurred to carry out its retail debt securities programme. In the programme of six bond series, the Company offered investors a total of 10,000,000 bonds with a nominal value of PLN 100 per bond.

PKN ORLEN’s Q1 2014 Consolidated Financial Results

RETAIL AND PETROCHEMICAL SALES RISE Despite the challenging market conditions in Q1 2014, with a low refining margin and shrinking Brent/Ural differential, PKN ORLEN's operating metrics remained close to those from Q1 2013. The ORLEN Group's retail sales came in at a record high, and the petrochemical segment made a significant contribution to PKN ORLEN's performance in the downstream. For the first time in its history, the Company produced hydrocarbons from its own deposits, at 330 thousand boe during the first quarter of the year.

Final round of ORLEN retail bond programme

PKN ORLEN is launching its sixth and last issue of debt securities, addressed to retail investors and worth PLN 100m, thus finalising its PLN 1bn retail bond programme. The Series F bonds are issued on different terms than the previous series – they offer a higher, fixed rate of return and have longer maturity.

Fifth series of PKN ORLEN retail bonds already on sale

PKN ORLEN has launched the fifth issue of its debt securities, addressed to retail investors and worth PLN 200m. The decision to issue Series E bonds was made based on market research, investor activity on the Catalyst market, and the huge interest generated by the first four series of PKN ORLEN bonds.

PKN ORLEN’s consolidated financial results

CONSISTENT IMPLEMENTATION OF STRATEGIC OBJECTIVES DESPITE SERIOUS CHALLENGES IN REFINING Last year, the ORLEN Group consistently pursued its strategic objectives and operational goals. The Company paid out dividend for the first time since 2008, at a yield of 3.8% (based on the average ORLEN stock price in 2012), and regained, after four years, investment grade ratings from Fitch and Moody’s.

Another milion of PKN ORLEN retail bonds offered to the market

After the hugely successful sale of the third series of its retail bonds (the issue was fully subscribed on the first day of the subscription period), PKN ORLEN is again offering investors its debt securities - Series D bonds with a total value of PLN 100m. To date, the Company has issued three series of bonds worth PLN 600m in aggregate, as part of a bond issue programme for up to PLN 1bn.

PKN ORLEN launches third bond series

PKN ORLEN has launched its third retail bond issue this year, valued at PLN 200m. Based on market research, investor activity on the Catalyst market, and the huge interest generated by the first two series, the decision was made to offer four-year Series C bonds for subscription and sale. PKN ORLEN is expecting up to PLN 1 bn in proceeds from the entire bond issue programme.

Moody's Investors raises PKN ORLEN's credit rating

Moody's Investors rating agency today raised PKN ORLEN's credit rating from Ba1 to Baa3, with a stable outlook. The rating agency recognised the Company's perseverance in maintaining stable financial results and its rational approach to capital expenditure planning. Moody’s is the second rating agency, after Fitch Ratings, to have upgraded PKN ORLEN's rating to the investment grade this year. Thus, after more than four years, the Company has regained its investment grade rating from both of the world's leading rating agencies.