REDUCTION OF AMOUNT IN DISPUTE BETWEEN PEP S.A. AND MONDI ŚWIECIE S.A.

Polish Energy Partners S.A. (‘PEP’) hereby announces that on 4th June 2012 promissory notes issued by Saturn Management Spółka z ograniczoną odpowiedzialnością i Wspólnicy Spółka Komandytowa (‘SM’) were delivered to Mondi Świecie S.A. (‘Mondi’). The notes delivery was preceded by correspondence between PEP and Mondi in which it was settled that the promissory notes delivery would result in reduction of the amount in dispute between PEP and Mondi by PLN 17 029 006.91 (i.e. from the amount of PLN 53 813 878.10 to the amount of PLN 36 784 871.19). The amount in dispute between PEP and Mondi is related to Mondi payment of the strike price of the so-called Voluntary Call Option. A detailed information on the price payment by Mondi was published in Current Report No. 22/2012.