Signing of a mutual consent to terminate the agreement with auditor

ORLEN S.A. (“ORLEN”, “Company”) informs that today the Company and Deloitte Audyt sp. z o.o. sp.k. headquartered in Warsaw (“Auditor”) signed a mutual consent to terminate the agreement for auditing and reviewing financial statements ("Agreement") concluded on April 17, 2019.

The Agreement was entered into for the duration of the Auditor's performance of work covered by the subject matter of the Agreement, initially for the years 2019, 2020 and 2021, and after the selection of the Auditor by the Supervisory Board as the entity authorized to audit financial statements for subsequent periods, for the years 2022-2023 and conditionally for 2024.

On the base of the Agreement, the Auditor, among others, audited and reviewed following financial statements prepared in accordance with the International Financial Reporting Standards approved by the European Union and other applicable laws:

·       the annual separate financial statements of the Company and the annual consolidated financial statements of ORLEN Capital Group ("ORLEN Group") for the years: 2019, 2020, 2021, 2022, 2023 and 2024;

·       interim separate financial statements of the Company and interim consolidated financial statements of ORLEN Group for the first and the third quarter and first half of 2019, 2020, 2021, 2022, 2023 and 2024.

The decision to terminate the Agreement was made by both parties of the Agreement. The Agreement has been terminated due to the Auditor's inability to perform the Agreement for reasons attributable to the Auditor, which resulted from the decision of the Polish Agency for Audit Oversight, imposing on the Auditor a temporary prohibition of the provision of services covered by national professional standards.

In addition, the Company informs that there were no instances of expressing in the reports on the audit of financial statements or consolidated financial statements, either opinions with disclaimer, nor negative opinions, nor refusal to express opinions. There were also no cases of expressing in the reports on the review of condensed financial statements or condensed consolidated financial statements, either conclusions with disclaimer, nor subject to negative conclusions, nor refusal to express conclusions.

In the case of the Company, the Supervisory Board decided to terminate the Agreement by mutual consent of the parties, entrusting the execution of the resolution on this subject to the Company's Management Board.

During the term of the Agreement, there were no discrepancies regarding the interpretation and application of the law or the provisions of the Company’s Articles of Association regarding the subject matter and scope of the audit, review or other services between the Company's Management Board and the Auditor who performed the audit, review or other services regarding the Company's financial statements or ORLEN Group's consolidated financial statements.

The Auditor's letter (Polish language version) addressed to the Polish Financial Supervision Authority, containing an explanation of the reasons for termination of the Agreement is attached to the regulatory announcement herein.