Agreements between ORLEN Capital Group and Gunvor group

Polski Koncern Naftowy ORLEN S.A. ("PKN ORLEN") informs that on 27 August 2013 it signed a spot agreement with Gunvor S.A., company belonging to the Gunvor group, for crude oil deliveries to AB ORLEN Lietuva. The estimated net value of the agreement amounts to approximately USD 80 million (i.e. approximately PLN 253 million, based on the average PLN/USD exchange rate as of 27 August 2013, as stated by the National Bank of Poland).

The total estimated value of agreements signed between PKN ORLEN and PKN ORLEN subsidiaries (“ORLEN Capital Group”) and companies from Gunvor group in the period between 1 September 2012 and 27 August 2013 amounts to approximately PLN 2 475 million. The agreements between ORLEN Capital Group and companies from the Gunvor group were concluded for the purchase of products and crude oil.

Agreement dated 16 January 2013 is the agreement with the highest amount from among all agreements concluded between ORLEN Capital Group and companies from Gunvor group in the period 1 September 2012 and 27 August 2013. The estimated value of the agreement amounts to approximately EUR 226 million (i.e. approximately PLN 933 million, based on the average PLN/EUR exchange rate as of 16 January 2013, as stated by the National Bank of Poland). The agreement was concluded between ORLEN Deutschland GmbH and Gunvor Deutschland GmbH and concerned purchase of fuels in the period 1 January 2013 and 31 December 2013.

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.