Disclosure of delayed inside information regarding development of Olefins complex investment in the Production Plant in Plock

“PKN ORLEN (“Company”) informs that on 18 May 2021 the Company’s Management Board gave consent for realization of the development of Olefins complex investment in the Production Plant in Plock (“Project”). The Project is a part of Petrochemical segment development program, announced by the Company on 12 June 2018.

Within the Project realization process it is assumed to receive State aid to reach the acceptable economic efficiency level for the project.

Total cost of the investment is estimated at the level of ca. PLN 13,5 bn.

With today consent of the Company’s Management Board, it will be possible to sign the agreement for building of Olefins III unit complex in EPCC formula (Engineering, Procurement, Construction and Commissioning) for ISBL with the preferred bidder, i.e. Hyundai Engineering Co., Ltd. headquartered in Seoul and Técnicas Reunidas S.A. headquartered in Madrid, or with a company set up by those companies to realize EPCC agreement as a general contractor (“Preferred bidder”), after all contractual provisions are negotiated.

Realization of the project requires approval of the Company’s Supervisory Board that PKN ORLEN Management Board requested for today.

See also: regulatory announcement no 69/2018 as of 12 June 2018.”​