KN Energies AB

Related Party Transaction • Nov 17, 2011

Disclosure 295318

Klaipedos Nafta AB - Notification on material event

Public company Klaipėdos nafta has signed the new agreement with company Orlen Lietuva

State-owned company Klaipėdos Nafta and oil refinery Orlen Lietuva have signed a new long term agreement for transshipment of oil products (further agreement), which will be effective until the end of 2024. The agreement will come into force after the approval of the Management Board of joint stock company Klaipėdos Nafta. The new revised agreement has removed the excessive commitments and ensured the favorable transshipment conditions for both companies. According to the agreement AB Klaipėdos nafta will provide the transshipment services for the main oil products, i.e. heavy oil, gasoline and diesel, agreed transshipment volume should remain on the same level as today. The agreement has been signed following the principle of equality, evaluating both parties' needs. AB Klaipėdos nafta has implemented the strategic goal - improving the partnership with oil refinery AB Orlen Lietuva, ensured long term transshipment service capacity utilization. Finance director Mantas Bartuška, 8 46 391763