INVESTOR RELATIONS

Macro data

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Macroeconomic data – average: 2022 unit Jan Feb Mar Apr May Jun Jul Aug Sept Oct Nov Dec
Brent crude oil price $/b 87.2 98.2 118.8 104.4 113.3 123.7            
Model refining margin (1) $/b 3.7 2.7 10.8 20.5 24.3 34.4            
Differential (2) $/b 0.8 3.6 15.5 14.8 9.8 12.4            
Model petrochemical margin (3) EUR/t 1 230 1 162 1 106 1 456 1 399 1 343            
USD / PLN (4) PLN 4.02 4.01 4.32 4.30 4.39 4.39            
EUR / PLN (4) PLN 4.55 4.55 4.76 4.65 4.65 4.64            
Macroeconomic data – average: 2022 unit 1Q 2Q 3Q 4Q
Brent crude oil price $/b 102.2 113.9    
Model refining margin (1)

$/b

6.0 26.5    
Differential (2)

$/b

7.3 12.2    
Model petrochemical margin (3) EUR/t 1 166 1 405    
USD / PLN (4) PLN 4.13 4.36    
EUR / PLN (4) PLN 4.63 4.65    

1) Model refining margin = revenues (93,5% Products = 36% Gasoline + 43% Diesel + 14,5% HHO) - costs (100% input: crude oil and other raw materials). Total input calculated acc. to Brent crude oil quotations. Spot market quotations. Model refining margin does not include costs of CO2, natural gas, electricity and logistics.

2) Differential from quotations calculated on real share of processed crude oils in the period. Spot market quotations.

3) Model petrochemical margin = revenues (98% Products = 44% HDPE + 7% LDPE + 35% PP Homo + 12% PP Copo) - costs (100% input = 75% Naphtha + 25% LS VGO). Contract market quotations.

4) Average foreign exchange rates according to the National Bank of Poland