Predicted accounting one-offs which impact significantly financial data for 2023 presented in financial statements for 2023

ORLEN S.A. ("Company") informs that it conducted tests for impairment of ORLEN Group's assets in the Upstream segment.

As a result of these activities, the Company predicts the recognition of an impairment of fixed assets of the Upstream segment with a total value of PLN (3.1) billion in the consolidated financial statement for 2023.

At the same time in the separate financial statement for 2023, the Company predicts to include the recognition of impairments of shares in ORLEN Upstream Sp. z o. o. with a total value of PLN (0.8) billion.

The above accounting one-offs have a significant negative impact on the financial data for 2023.The impairment of the above-mentioned assets results mainly from changes in the macroeconomic environment, the revision of uptream resources and the impact of key legislation included in the regulatory package aimed at counteracting the excessive increase in electricity and natural gas prices in the Polish market.

The abovementioned one-offs are currently being audited by the auditor and may be subject to change.

At the same time, the Company informs that analyzes of the value of other assets of the ORLEN Group are underway. In case any impairments or updating reversals, which impact significantly the financial data for 2023, become probable, the Company will publish regulatory announcement with that information.

ORLEN S.A. will publish its separate and consolidated financial statements for year 2023 on 25 April 2024.