PKN ORLEN Supervisory Board consent to conclude an agreement for the building of power plant in Wloclawek

Polski Koncern Naftowy ORLEN Spolka Akcyjna ("PKN ORLEN") hereby informs that the PKN ORLEN Supervisory Board, at the meeting held on 29 November 2012, gave consent for realization of project of building a power plant in Wloclawek, including conclusion of the agreement for the power plant building (“Agreement”).

The Agreement will be concluded with consortium of companies: General Electric International Inc. acting via General Electric International S.A., office in Poland and SNC-LAVALIN POLSKA sp. z o.o. („Consortium of companies”). The estimated net value of the Agreement will amount to ca. PLN 1,1 bn. The Agreement provides building, in „turn key” formula, of the power plant of 463 MWe net. Start-up of the power plant is planned on December 2015.

The maximum level of contractual penalties amounts to 25% of the value of Agreement. Payment of contractual penalties excludes the right to seek compensation for damages in excess of such contractual penalties.