Polski Koncern Naftowy ORLEN : Summary of PKN ORLEN Series A bond offer

The subscriptions of 2 000 000 offered Bonds were conducted from 6 September 2017 to 15 September 2017. The offer was not divided into tranches. The allocation of the Bonds was made on 19 September 2017.

During the subscription period 1 188 investors made subscriptions on 4 292 122 Bonds. The Company allocated 2 000 000 Bonds to 1 188 investors in accordance with the maximum allocation rule, Prospectus and the final terms of the offer of Series A bonds. The maximum allocation amounted to 4 237 Bonds, which means that investors' subscriptions up to 4 237 Bonds were not subject to any reduction. The rule of maximum allocation of Bonds causes that every investor whose subscription has been reduced could have a different reduction rate and it is not possible to calculate such a one representative ratio for all reduced subscriptions on Bonds.

The Bonds were acquired at the issue price which amounted to PLN 100.

No underwriting agreement was signed by PKN ORLEN in connection with the offer of the Bonds.

The value of the issue, defined as the number of Bonds which were offered multiplied by the issue price, amounted to PLN 200 000 000.

Due to the lack of final settlement of the issue costs to the day of this report, PKN ORLEN S.A. will prepare and will publish regulatory announcement with issue costs, including the costs by type, after receiving and acceptance of all invoices from entities involved in preparing and conducting the offer, no later that in the time required to publish the regulatory announcement with this information.

PKN ORLEN costs related to the Bonds offer will be charged to PKN ORLEN operating costs.​