The Management Board of Grupa LOTOS S.A. announces that over the last twelve months, by April 22nd 2015, Grupa LOTOS and VITOL S.A. executed contracts for an aggregate amount of USD 193m, VAT-exclusive (ca. PLN 720m translated at the USD/PLN mid rate quoted by the National Bank of Poland for April 21st 2015), thus meeting the criteria of a significant agreement (more than 10% of Grupa LOTOS S.A.'s equity).
On November 26th 2014, Grupa LOTOS S.A. and VITOL S.A. signed a contract for sale of fuel oil to VITOL S.A. (the highest-value transaction from among the above contracts). The value of the contract of November 26th 2014 is estimated at approximately USD 102m, VAT-exclusive (ca. PLN 341m translated at the USD/PLN mid rate quoted by the National Bank of Poland as at November 26th 2014).
The contract does not include any condition or date precedent or provide for any contractual penalties, and its terms and conditions do not differ from the terms and conditions commonly applied in contracts of this 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, as amended.