Agreements between PKN ORLEN and Statoil

Polski Koncern Naftowy ORLEN S.A. ("PKN ORLEN") informs that on 6 September 2012 it signed a spot agreement with Statoil ASA, Stavanger, Norway („Statoil”), for crude oil deliveries to PKN ORLEN. The estimated net value of the agreement amounts to approximately USD 69 million (i.e. approximately PLN 226 m, based on the average PLN/USD exchange rate as of 6 September 2012, as stated by the National Bank of Poland).

The total estimated value of agreements signed between PKN ORLEN and Statoil in the period between 4 February 2012 to 6 September 2012 amounts to approximately USD 715 m (i.e. approximately PLN 2 367 m, based on the average PLN/USD exchange rates as of the dates of signing the agreements, as stated by the National Bank of Poland).

Agreement dated 8 August 2012 is the agreement with the highest amount from among all agreements concluded between PKN ORLEN and Statoil in the period from 4 February 2012 to 6 September 2012. The estimated value of the agreement amounted to approximately USD 95 m (i.e. approximately PLN 314 m, based on the average PLN/USD exchange rate as of 8 August 2012, as stated by the National Bank of Poland). The agreement was concluded for crude oil deliveries to PKN ORLEN.

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 27/2012 dated 3 February 2012.