KN Energies AB — Earnings Release 2010

Dec 2, 2010

Disclosure 282882

Klaipedos Nafta AB - Notification on material event

The results of SC KLAIPEDOS NAFTA transshipment activities during November 2010

During November 2010 the Company reloaded 829 thousand tones of oil products.The transshipment increased by 11 % if compared to that of November 2009 (746 thousand tones). If compared to the transshipment during the eleven months of 2009 (6.884 thousand tones), the volume reloaded during the same period of 2010 (7.261 thousand tones) increased by 5 %. The preliminary income, received during November 2010 in the amount of LTL 14.5 million (EUR 4.2 million), increased by 23 % if compared to the income of November 2009 (LTL 11.8 million or EUR 3.4). The preliminary income, received during the eleven months of 2010 in the amount of LTL 115.0 million (EUR 33.3 million), increased by 9 % if compared to the corresponding period of 2009 (LTL 105.9 million or EUR 30.7). The growing number of the Clients exporting oil products from Russian and Byelorussian oil refineries as well as the striving of the Company's Management to form a portfolio of long - term orders by concluding contracts directly without intermediators have influenced the positive results of the operating activities during the eleven months of 2010. Johana Buciene Chief Financier +370 46 391636