Agreements between ORLEN Capital Group and Vitol Group

Polski Koncern Naftowy ORLEN S.A. ("PKN ORLEN") informs that on 31 August 2012 it signed a spot agreement with Vitol S.A., Geneva, Switzerland („Vitol S.A.”), company belonging to the Vitol group, for crude oil deliveries to PKN ORLEN. The estimated net value of the agreement amounts to approximately USD 81 million (i.e. approximately PLN 270 million, based on the average PLN/USD exchange rate as of 31 August 2012, as stated by the National Bank of Poland).

The total estimated value of agreements signed between PKN ORLEN and companies from the Vitol group in the period between 11 February 2012 to 31 August 2012 amounts to approximately PLN 2 442 million.

The total estimated value of agreements signed between PKN ORLEN subsidiaries and companies from the Vitol group in the period between 11 February 2012 to 31 August 2012 amounts to approximately PLN 72 million.

Agreement dated 4 May 2012 is the agreement with the highest amount from among all agreements mentioned above. The estimated value of the agreement amounts to approximately USD 120 million (i.e. approximately PLN 384 million, based on the average PLN/USD exchange rate as of 4 May 2012, as stated by the National Bank of Poland). The agreement was concluded between PKN ORLEN and Vitol S.A. and concerns crude oil deliveries to Unipetrol RPA, s.r.o.

The agreements between PKN ORLEN and PKN ORLEN subsidiaries and companies from the Vitol group were concluded for the purchase of crude oil and supplies of fuels.

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.

See also: regulatory announcement no 36/2012 dated 10 February 2012.