Agreement with ORLEN Poludnie on arrangements of directional method of financing of the investment tasks

PKN ORLEN (“Company”) informs that on 15 December 2021 it concluded with ORLEN Poludnie S.A. (“ORLEN Poludnie”) an agreement (“Agreement”) on arrangements of directional method of financing of the investment tasks: “Project and building of UCO FAME production and distillation lines” and “Building of the complex of units for production of II generation bioethanol (B2G)” – “B2G Project”, collectively “Projects”. Financing of Projects realisation, over funds provided by ORLEN Poludnie, will take place through ensuring the provision of funds by PKN ORLEN to ORLEN Poludnie. Details regarding terms and conditions of financing will be specified in the future PKN ORLEN and ORLEN Poludnie corporate decisions and in the separate agreement or agreements. Estimated value of CAPEX on realisation of B2G Project will be published by PKN ORLEN in a separate regulatory announcement after finishing of negotiations regarding contract terms and conditions between ORLEN Poludnie and the investment contractors.

Signing of the Agreement has been preceded by the Company’s Supervisory Board consent.

PKN ORLEN gave also consent, as the sole ORLEN Poludnie shareholder, for realization of the B2G Project by ORLEN Poludnie.

See also: regulatory announcement no 49/2021 as of 15 December 2021.