INVESTOR RELATIONS

Macro data

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Macroeconomic data – average: 2023 unit Jan Feb Mar Apr May Jun Jul Aug Sept Oct Nov Dec
Brent crude oil price $/b 82.8 82.5                    
Model refining margin (1) $/b 21.9 14.8                    
Differential (2) $/b 6.3 5.5                    
Model petrochemical margin (3) EUR/t 1 018 980                    
USD / PLN (4) PLN 4.36 4.43                    
EUR / PLN (4) PLN 4.70 4.74                    
Natural gas price TTF month-ahead PLN/MWh 296 249                    
Natural gas price TGEgasDA PLN/MWh 314 275                    
Electricity price TGeBase PLN/MWh 637 662                    
Macroeconomic data – average: 2023 unit 1Q 2Q 3Q 4Q
Brent crude oil price $/b        
Model refining margin (1)

$/b

       
Differential (2)

$/b

       
Model petrochemical margin (3) EUR/t        
USD / PLN (4) PLN        
EUR / PLN (4) PLN        
Natural gas price TTF month-ahead PLN/MWh        
Natural gas price TGEgasDA PLN/MWh        
Electricity price TGeBase PLN/MWh        

(1) Model refining margin = revenues (93,5% Products = 36% Gasoline + 43% Diesel + 14,5% HHO) - costs (100% input: Brent crude oil and other raw materials). Spot quotations. (valid till 31.07.2022)
Model refining margin = revenues (93,6% Products = 33% Gasoline + 48% Diesel + 13% HHO) - costs (100% input: 98% Brent crude oil + 2% natural gas). Spot quotations. (valid from 01.08.2022)

(2) Differential calculated on the real share of processed crude oils. Spot quotations. (valid from 01.01.2022)

(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). Revenues contract quotations; costs spot quotations.

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