Termination of ADR Deposit Agreement

Polski Koncern Naftowy ORLEN S.A. (the “Company”) announces that the deposit agreement dated 10 April 2001 (with subsequent amendments) constituting the Company’s American depositary receipts (“ADRs”) concluded with The Bank of New York Mellon headquartered in New York City, USA (“Depositary Bank”) (“Deposit Agreement”) has been terminated, effective 5:00 pm in New York City, USA on 4 March 2013. The termination of the Deposit Agreement resulted from:

• the notice of termination of the Deposit Agreement sent by the Company to the Depositary Bank on 29 November 2012;
  
• the notice of termination sent by the Depositary Bank to holders of the ADRs on 3 December 2012; and
  
• expiration of a notice period of at least 90 days commencing on the date of providing the above mentioned notice to holders of the ADRs, as stipulated by the Deposit Agreement.

According to the terms of the Deposit Agreement holders of ADRs may exchange ADRs for the Company’s shares within one year following the termination of the Deposit Agreement, i.e. until 4 March 2014. Thereafter, the Depositary Bank may sell any remaining shares related to outstanding ADRs. Holders of ADRs may exchange ADRs for a proportional share of cash from such sale or for the Company’s shares, if the Depositary Bank does not perform the sale.

See also: regulatory announcement no 237/2012 dated 29 November 2012.