CANCELLATION OF PEP RESULTS FORECAST FOR 2012

In reference to Current Reports No. 22/2012 and 23/2012, Polish Energy Partners S.A. (‘PEP’) hereby cancels the forecast of PEP results for 2012 made public by Current Report No. 40/2011. The reason for cancellation of the forecast by PEP is the acquisition (‘Transaction’) by Mondi Świecie S.A. (‘Mondi’) of all the rights and obligations of the limited partner Saturn Management Spółka z ograniczoną odpowiedzialnością i Wspólnicy, Spółka Komandytowa and all the shares in Saturn Management Spółka z ograniczoną odpowiedzialnością (‘Rights’). Due to the fact that Mondi questioned a part of the price paid for the Rights and it cannot be excluded that resolution of this issue will be made in the course of legal proceedings, the outcome of which is currently difficult to foresee, PEP cannot unequivocally determine the amount of the items presented in the forecast. Consequently, PEP will also not publish a new forecast. The result of the Transaction in the consolidated profit and loss account of Grupa and in the separate profit and loss account of PEP at the current legal status was presented in Current Report No. 23/2012. Moreover, the detailed data of the effect of the Transaction on PEP financial results will be presented in the consolidated report for 1st quarter of 2012 (note 10 – “Discontinued activities” and note 14 – “Attitude of the Board of Directors towards the possibility of implementing previously published forecasts for the year in the light of the results presented in the quarterly report in relation to the results”).