The Management Board of Grupa LOTOS S.A. herby reports that as a result of the signing on November 9th 2011, by Grupa LOTOS S.A. and Statoil Poland Sp. z o. o. of Warsaw an annex extending the agreement for liquid fuels sale by Grupa LOTOS S.A. to Statoil Poland Sp. z o.o., the total value of agreements concluded between the aforementioned companies’ capital groups since publication of the current report 12/2011 of 21th April 2011, reached approximately PLN 9.85 billion.
In terms of value, the largest of these agreements is the agreement described above, which applies from January 1st 2009 (current report 58/2008 of 20 November 2008) and was extended by this annex to December 31st 2013 The agreement’s estimated value in the years 2012 - 2013 is PLN 9.17 billion.
The estimated maximum amount of contractual penalties is PLN 137m. The agreement contains no provisions that would provide the opportunity to claim additional compensation above the amount of these penalties. Other conditions of the agreement do not differ from commonly used for the type of agreements. The total value of agreements was considered significant due to the fact that over 10% of the equity of Grupa LOTOS S.A.
The other terms and conditions of the agreement as well as its provisions concerning penalties do not differ from those commonly used in agreements of such type.
The legal basis for the publication of this Current Report is Par. 5.1.3 of the Minister of Finance’s Regulation on current and periodic information to be published by issuers of securities and conditions for recognition as equivalent of information whose disclosure is required under the laws of a non-member state, dated February 19th 2009.