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Corporate Governance

Supervisory Board

The Supervisory Board exercises permanent control over the operations of Grupa LOTOS S.A. The Supervisory Board may, without interfering with the competences of other authorities, express its opinions on any issues relating to the operations of Grupa LOTOS S.A., which includes making motions and proposals to the Management Board.

The Supervisory Board performs its duties collectively, however, it may delegate its members to individually perform certain tasks or functions and may set up ad hoc or standing committees to exercise supervision in specific areas of the Company’s activities. Standing committees estalished by the Supervisory Board are: the Audit Committee, the Strategy and Development Committee and the Organisation and Management Committee.

The Supervisory Board submits a concise assessment of Grupa LOTOS S.A. situation to the annual General Meeting, early enough for the Stockholders to acquaint themselves with the assessment before the date of the Meeting.

The competencies of the Supervisory Board include the election of the auditor of the financial statements of the Company. His election and the change are made in accordance with the relevant law. The Company does not have additional regulations for changing financial auditors. The auditor selected by the Supervisory Board is recommended to audit the accounts of entities belonging to the capital group.

BY-LAWS OF THE SUPERVISORY BOARD OF GRUPA LOTOS S.A.

Members of the Supervisory Board of Grupa LOTOS S.A.

 Members of Audit Commitee:

 Members of Strategy and Development Commitee:

Members of Organisation and Management Commitee:

 

Supervisory Board Members meeting the Independence Criteria: