KN Energies AB

Earnings Release • Apr 4, 2011

Disclosure 286140

Klaipedos Nafta AB - Notification on material event

Operating results during Ist quarter of the year 2011

During the first quarter of the year 2011 SC KLAIPĖDOS NAFTA loaded 1.85 million tons of oil products to the tankers (4% less than in the Ist quarter 2010) and unloaded 1,87 million tons of oil products in to the shore tanks (1% less than in the Ist quarter 2010). Severe weather conditions caused fewer loadings in the beginning of the year. The planned maintenance of massive scale of Orlen Lietuva suppressed the loadings in March. Nevertheless, the revenues of the Company for the same period accounted for LTL 33.94 million (EUR 9.83 million) 8% more than in the Ist quarter 2010. That proves that the chosen business model without intermediary was the right decision. During March 2011 the Company reloaded 530 thousand tones of oil products to the tankers (23% less than in March 2010) and unloaded 561 thousand tones in to the shore tanks (16% less than in March 2010). Revenues of the Company accounted for LTL 10.44 million (EUR 3.02 famillion) and it decreased by 7% if compared to that of March 2010. Chief Financier Johana Bučienė, 8 46 391636