Statement regarding Corporate Governance

PKN ORLEN applies the principles of good corporate management to ensure that its procedures are in the interests of the Company and its shareholders, and are in line with the expectations of the market.
PKN ORLEN will also adopt the Corporate Governance proposals of the Warsaw Stock Exchange as soon as the doubts regarding the legal status of the Corporate Chamber of the Capital Market Court are resolved. In the opinion of PKN ORLEN, the provisions of the Corporate Governance proposals contain many misinterpretations, especially in respect of very general and inaccurate statements. This may cause problems in the future with the correct interpretation. As a result of which, PKN ORLEN may have sanctions imposed on it by an entity, whose legal status is currently unclear.

§ 22 of the Regulations of the Warsaw Stock Exchange and with respect to the resolution of the Supervisory Board of the Warsaw Stock Exchange regarding an approval of Corporate Governance for the issuers of shares, convertible and pre-emptive convertible bonds admitted to public trading.