The Management Board of Grupa LOTOS S.A. (the “Issuer”) reports that due to the execution of an agreement between Grupa LOTOS S.A. and Neste Polska Sp. z o.o. of Warsaw on December 23rd 2011, the total value of the agreements concluded by the Issuer and Neste Oil Group since the publication of current report No. 29/2011 dated October 19th 2011, is approximately PLN 1.5bn and has reached the value of a significant agreement, exceeding 10% of Grupa LOTOS S.A.’s equity.
In terms of value, the largest of these agreements is the above mentioned agreement of December 23rd 2011 on the sale of liquid fuels by Grupa LOTOS S.A. to Neste Polska Sp. z o.o., which is estimated for PLN 960m.
The estimated maximal value of contractual penalties is ca. PLN 14m. The agreement does not include any condition precedent or specify any date of events giving rise to a claim (dies a quo) and its terms and conditions do not differ from the terms and conditions 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. the total value of agreements executed.