LOTOS reveals strategy for 2017-2022 Stability and sustainable growth in key areas of business combined with strong support for innovation lie at the heart of the company’s strategic plans.

LOTOS Asfalt, a LOTOS Group company, and a syndicate of eight financial institutions have signed credit facility agreements to finance the construction of an advanced Delayed Coking Unit (DCU) with auxiliary installations on the premises of the refinery in Gdańsk (the “EFRA Project”).

On June 30th 2015, the Annual General Meeting, resumed after adjournment, removed Ms Magdalena Bohusz-Boguszewska from the Grupa LOTOS S.A. Supervisory Board of the ninth joint term of office, and appointed in her place Ms Katarzyna Iskra as Member of the Supervisory Board.

The Supervisory Board of Grupa LOTOS S.A. reappointed all the existing Members of the Management Board for another, ninth joint term of office.  The eighth term of office of the Management Board expires on June 28th 2015, and the ninth term of office starts on June 29th 2015.

In May 2015, LOTOS’s model refining margin was USD 7.49/bbl, having grown over 80% year on year.

On June 1st 2015, the Annual General Meeting of Grupa LOTOS S.A. was held in Gdańsk. The Annual General Meeting approved the Company’s separate and consolidated financial statements for 2014, and granted discharge to all members of the Grupa LOTOS Management and Supervisory Boards in respect of performance of their duties.

The Supervisory Board of Grupa LOTOS S.A. has concluded the procedure to select the President of the Management Board of Grupa LOTOS S.A. of the ninth joint term of office.
The Supervisory Board has today resolved to appoint Mr Paweł Olechnowicz to the Management Board of Grupa LOTOS S.A. of the ninth joint term of office as President of the Management Board.

Grupa LOTOS intends to continue the investment projects envisioned in the ‘Efficiency and Growth 2013-2015’ programme. The projects, which may be modified to take into account the challenging market conditions, will be financed with proceeds from last year's share offering. The programme will improve the Company's competitiveness and strengthen its position on the market, thereby benefiting the Grupa LOTOS shareholders and the entire Polish economy.

The Extraordinary General Meeting of Grupa LOTOS S.A. has approved increasing the Company's share capital by issuing new shares. The proceeds will be used to finance the Company’s strategy, which envisages further investments to increase the Gdańsk refinery's complexity and step up hydrocarbon production.

Grupa LOTOS 2013−2015 Efficiency and Growth programme has reached its most crucial phase. In the region of Pomerania, the initiative is contributing to capital investment, new job opportunities and government revenue.

Włodzimierz Karpiński, Minister of the Polish State Treasury, and Rafał Baniak, Under-Secretary of State at the Ministry of State Treasury, have visited one of four LOTOS Petrobaltic's drilling rigs operating in the Baltic Sea.

Thanks to committed efforts by Polskie Inwestycje Rozwojowe S.A. and two banks, Bank Gospodarstwa Krajowego and Bank Pekao S.A., LOTOS will obtain financing for development of the B8 field.