In May 2015, LOTOS’s model refining margin was USD 7.49/bbl, having grown over 80% year on year.

After the first two months of Q2 2015, the Company’s average refining margin stood at USD 7.68/bbl, compared with USD 9.38/bbl in Q1 2015 and USD 7.32 in Q4 2014.

Since the beginning of the year, LOTOS has posted strong model refining margin, peaking in March 2015 at USD 10.32/bbl, the best result since early 2013.

The margin calculation is built around the presented yield structure, with the following price indices assigned:

• 14.14% gasoline (PRM UNL 10 ppm ARA);
• 4.24% naphtha (Naphtha CIF NWE);
• 4.53% LPG (50% Propane FOB NWE, 50% Butane FOB NWE);
• 49.57% diesel oil (ULSD 10 ppm CIF NWE);
• 5.34% jet fuel (Jet CIF NWE);
• 18.11% heavy fuel oil (HFO 3.5%S ARA);
• 4.07% refinery’s own consumption.

The margin calculation was reduced by the estimated cost of natural gas consumption (including transmission costs), totalling approximately USD 3 per barrel of processed oil.

Communications Office, Grupa LOTOS S.A., ul. Elbląska 135, 80-718 Gdańsk, Poland, tel. (+48) 58 308 87 31, (+48) 58 308 83 88, (+48) 58 308 83 55, e-mail: media@grupalotos.pl