Agreements between ORLEN Group and Lukoil Group

Polski Koncern Naftowy ORLEN S.A. (“PKN ORLEN”) announces that it has been informed that on 24 January 2012 the Management Board of AB ORLEN Lietuva, (“ORLEN Lietuva”), approved conclusion of one-year agreements between SIA ORLEN Latvija (subsidiary of ORLEN Lietuva) and SIA Lukoil Baltija R.

On the base of the agreements SIA ORLEN Latvija will sell to SIA Lukoil Baltija R diesel oil and gasoline in the period between 1 January 2012 to 31 December 2012. The total estimated net value of the agreements amounts to USD 151 m (i.e. approximately PLN 498 m, based on the average PLN/USD exchange rate as of 24 January 2012, as stated by the National Bank of Poland).

The total estimated value of agreements signed between PKN ORLEN, its subsidiaries (ORLEN Group) and companies from the Lukoil Group in the period between 6 January 2012 to 3 February 2012 amounts to approximately PLN 2 123 million.

Agreement dated 13 January 2012 is the agreement with the highest amount from among all agreements concluded between ORLEN Group and Lukoil Group in the period between 6 January 2012 to 3 February 2012. The estimated value of the agreement amounts to approximately USD 401 million (i.e. approximately PLN 1 376 million, based on the average PLN/USD exchange rate as of 13 January 2012, as stated by the National Bank of Poland). The agreement was concluded between ORLEN Lietuva and UAB Lukoil Baltija and concerns diesel oil and gasoline sales in 2012.

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.

PKN ORLEN owns 100% shares in ORLEN Lietuva.