Agreement between PKN ORLEN and SK EUROCHEM for sales of PTA

Polski Koncern Naftowy ORLEN S.A. (“PKN ORLEN”) hereby informs that on 23 February 2011 it signed an agreement with SK EUROCHEM, headquartered in Wloclawek, Poland (“Agreement”). The Agreement was signed for the deliveries to SK EUROCHEM of terephthalic acid (“PTA”). The Agreement was concluded for indefinite period. Today’s Agreement replaces an agreement signed on 31 May 2006 for deliveries to SK EUROCHEM of PTA (“Agreement signed in 2006”). Today’s Agreement terminates the Agreement signed in 2006. The Agreement concluded today particularizes provisions of the Agreement signed in 2006. There are no financial effects on PKN ORLEN due to the termination of the Agreement signed in 2006.

The estimated value of today’s Agreement in the period of first five years of its duration amounts to approximately PLN 1 802 m. The Agreement is valid from the date of signing.

In accordance with the “Regulation of the Minister of Finance dated 19 February 2009 on current and periodic information to be published by issuers of securities and on the conditions under which such information may be recognized as being equivalent to information required by the regulations of law of a state which is not a member state” the Agreement signed in 2006 constitute a “significant agreement” due to the fact that its total value exceeds 10% of PKN ORLEN’s equity.

See also: regulatory announcement no 34/2006 dated 31 May 2006.