Polski Koncern Naftowy ORLEN : Changes in PKN ORLEN Management Board

- Mr Wojciech Jasiński, President of the PKN ORLEN S.A. Management Board,

- Mr Mirosław Kochalski, Vice-president of the PKN ORLEN S.A. Management Board,

- Ms Maria Sosnowska, Member of the PKN ORLEN S.A. Management Board, Investments and Procurement.

At the same meeting the Supervisory Board, pursuant to § 9 item 1 point 3 of the Company's Articles of Association, acting on the basis of the motion of the Minister of Energy as of 5 February 2018, appointed with the effect from 6 February 2018 Mr Daniel Obajtek to the position of the President of the PKN ORLEN S.A. Management Board. The Supervisory Board decided also to delegate with the effect from 5 February 2018 Mr Józef Węgrecki for temporary acting as the Member of the PKN ORLEN S.A. Management Board, Investments and Procurement by the time of appointment of the Management Board Member for that position, providing that no longer than for three months.

Mr Daniel Obajtek

Due to appointment with the effect from 6 February 2018 to the position of the President of PKN ORLEN Management Board Mr Daniel Obajtek has resigned on 5 February 2018 from the position of the President of Energa S.A. Management Board.

Mr Daniel Obajtek (born 2 January 1976 in Myślenice) is a valued manager, businessman and experienced local government activist.

Since February 2017 he is the President of the Energa S.A. Management Board, where he manages finance, corporate governance, audit and control, risk management, safety, personal policy, legal policy, PR policy and social dialog.

Under the leadership of Mr Daniel Obajtek, Energa S.A. finished the year 2017 with capitalisation at the level of PLN 5,3 bn, noting the highest, among the domestic energy companies - achieving 38 percent - increase of the share price at the Warsaw Stock Exchange.

Many factors influenced the increase of investors trust, of which include: investments, stabilizing and restructuring operations. In 2017 Energa Group noticed volume increase of electricity production by 9 percent, increase of electricity distribution by 2 percent, increase of retail sales by 5 percent. Estimated EBITDA of the Group amounts to PLN 2 168 m, representing an increase by 7 percent compared to the last year.

The Group operations are also characterised today by the predictability of the result, which impacts on the sense of stability among investors and over 3 million individual clients.

Among successes of Mr Daniel Obajtek it should be emphasized that he took up the challenge to resolve the problem important for the whole Polish energy sector - so called long-term agreements referred to green certificates. That problem, calculated in billions of PLN, is of significant importance for the whole sector. Energa SA, under leadership of Mr Daniel Obajtek, put a significant emphasis on realisation of tasks included in the Responsible Development Strategy.

Before taking on a post of the President of the Energa SA Management Board, Mr Daniel Obajtek held the position of the President of the Agency for Restructuring and Modernisation of Agriculture (ARMA), where he managed 11 thousand people and was responsible for the budget in the amount of PLN 27 bn. Realizing the set tasks, Mr Daniel Obajtek improved the processes connected with expenditures of multi-billion UE and domestic funds resources. He optimised costs of the Agriculture Restructuring and Modernization Agency (ARiMR) functioning and reorganized it. Since 2006 during working in a local government he efficiently realized a lot of development initiatives and successfully conducted many infrastructural initiatives.

Mr Józef Węgrecki

PKN ORLEN S.A. will publish in another regulatory announcement information about education, qualifications and professional experience of Mr Józef Węgrecki as soon as it will be delivered to the Company.

Mr Daniel Obajtek has declared that upon joining the Management Board of PKN ORLEN he will not be involved in any activity that competes with PKN ORLEN; will not be a partner of any competing company; and will not be a member of any board of a competing incorporated company. He is not on the List of Insolvent Debtors kept on record on the National Court Register Act.

Mr Józef Węgrecki submitted a statement that he is involved in the activity competitive with PKN ORLEN S.A. as he is a Vice-President of Energa Wytwarzanie S.A. Mr Józef Węgrecki is not on the list of insolvent debtors kept on record on the National Court Register Act.