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Selection of the Auditor for the Financial Statements of the LOTOS Group

Selection of the Auditor for the Financial Statements of the LOTOS Group
Report no. 37/20122009-12-18

The Management Board of the LOTOS Group reports that on the basis of the resolution adopted by the Supervisory Board of Grupa LOTOS S.A. on December 17th 2009 Ernst&Young Audit Sp. z o.o., registered office at Rondo ONZ 1, 00-124 Warsaw, entered on the list of entities qualified to audit financial statements maintained by the National Chamber of Qualified Auditors under No. 130, was selected as the auditor of the Company’s financial statements for 2010, 2011 and 2012.

The Supervisory Board of Grupa LOTOS S.A. in accordance with applicable professional regulations and standards appointed Ernst&Young Audit Sp. z o.o. on the basis of Par. 13.2.4 of the Company’s Articles of Association and Par. 2.1.4 of the Rules of Procedure of the Supervisory Board.

The agreement with the auditor will be executed for a term of three years and will provide for the following scope of work:

-audit of Grupa LOTOS S.A.’s financial statements for 2010, 2011 and 2012, prepared in accordance with the International Financial Reporting Standards;

-audit of the consolidated financial statements of the LOTOS Group for 2010, 2011 and 2012, prepared in accordance with the International Financial Reporting Standards;

-review of Grupa LOTOS S.A.’s semi-annual financial statements for the first half of 2010, 2011 and 2012, prepared in accordance with the International Financial Reporting Standards; -audit of the semi

-annual consolidated financial statements of the LOTOS Group for the first half of 2010, 2011 and 2012, prepared in accordance with the International Financial Reporting Standards. Grupa Lotos S.A. used the services of Ernst&Young Audit Sp. z o.o. to audit the 2004 and 2005 financial statements of Grupa LOTOS S.A.

 
Legal basis for the publication of this current report: Par. 5.1.19 of Regulation of the Minister of Finance concerning current and periodic information to be published by issuers of securities and the conditions for recognition as equivalent of the information whose disclosure is required under the laws of a non-member state, dated February 19th 2009.