Changes in the composition of the Management Board of Grupa LOTOS S.A.
Report no. 14/20162016-04-13

 Grupa LOTOS S.A. (“Company”) announces that on April 13th 2016 the Supervisory Board of Grupa LOTOS S.A. of the ninth joint term of office removed Paweł Olechnowicz (President of the Management Board) (with effect from April 13th 2016), Marek Sokołowski (Vice-President of the Management Board, Chief Strategy and Development Officer), and Zbigniew Paszkowicz (Vice-President of the Management Board, Chief Exploration and Production Officer) (with effect from the end of the notice period under their respective employment contracts), from the Management Board of the Company.

The Supervisory Board further decided to temporarily delegate its Chairman, Robert Pietryszyn, to act as President of the Management Board until a new President is appointed, for a period not longer than three months.

Mr Pietryszyn received his master’s degree in law from the Faculty of Law, Administration and Economics at the University of Wrocław. He holds an MBA degree and completed a postgraduate corporate management programme at the Wrocław University of Economics.

He began his career as an attorney-in-fact for the Management Board of Kronn Sp. z o.o., where in 2002−2004 he managed financial risk (purchase of receivables); and also performed activities related to business representation (acquired several large accounts).

In 2004–2006, Mr Pietryszyn served as consultant/project manager at PROFES Capital Sp. z o.o., where he was involved in investment banking transactions: corporate restructurings, acquisitions, financing (Polcolorit SA), turnaround management.

In 2006, he was employed as expert at PKO BP S.A., responsible for optimising the bank’s operations and cost restructuring. Also in 2006 he served as member of the Management Board of Dolfamex Sp. z o.o., in charge of organisation and strategy.

In 2006–2008, Mr Pietryszyn worked at the KGHM Polska Miedź Group.

In 2008–2011, as self employed, he offered business advisory services, including business restructuring advisory, strategy consulting, and marketing.

From 2011 to 2016, he served as CEO of Wrocław 2012 Sp. z o.o. (Wroclaw Stadium), where he supervised the largest investment project in the post-war history of Wrocław (worth PLN 900m), strategy and operations.

Since January 2016, he has been member of the Management Board of PZU S.A. and Chairman of the Supervisory Board of Grupa LOTOS S.A.

From December 2015 to January 2016, Mr Pietryszyn was member of the Supervisory Board of Grupa LOTOS S.A. Previously he served on the supervisory boards of the following companies: Dolmed S.A., Polcolorit S.A. (a company listed on the Warsaw Stock Exchange), Wrocław 2012 Sp. z o.o., Radio Mercury S.A. (Chairman), WKS Zawisza Bydgoszcz S.A., PGE Dystrybucja Rzeszów Sp. z o.o. (Chairman), Ruch S.A. (Chairman, a company listed on the Warsaw Stock Exchange), and Pri Basalt S.A. (Deputy Chairman).

According to his representation, Mr Robert Pietryszyn has not been entered in the Register of Insolvent Debtors maintained under the Act on the National Court Register, he is not involved in any activity competing with Grupa LOTOS S.A.’s business, neither is he a partner in any partnerships, or member of corporate bodies of any corporations, or member of governing bodies of any other legal entities competing with Grupa LOTOS S.A.

This current report is published pursuant to Par. 5.1.21 and 5.1.22 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.