Agreements between PKN ORLEN and Vitol

Polski Koncern Naftowy ORLEN S.A. ("PKN ORLEN") informs that on 19 November 2012 it signed a spot agreement with Vitol S.A., Geneva, Switzerland („Vitol”) for crude oil deliveries to AB ORLEN Lietuva (“ORLEN Lietuva”). The estimated net value of the agreement amounts to approximately USD 78 million (i.e. approximately PLN 252 million, based on the average PLN/USD exchange rate as of 19 November 2012, as stated by the National Bank of Poland).

The total estimated value of agreements signed between PKN ORLEN and Vitol in the period between 1 September 2012 and 19 November 2012 amounts to approximately USD 726 million (i.e. approximately PLN 2 333 million, 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 19 September 2012 is the agreement with the highest amount from among all agreements concluded between PKN ORLEN and Vitol in the period between 1 September 2012 and 19 November 2012. The estimated value of the agreement amounts to approximately USD 82 million (i.e. approximately PLN 259 million, based on the average PLN/USD exchange rate as of 19 September 2012, as stated by the National Bank of Poland). The agreement was concluded for crude oil deliveries to ORLEN Lietuva.

PKN ORLEN S.A. owns 100% of ORLEN Lietuva shares.

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 165/2012 dated 31 August 2012.