In the Supervisory Board's opinion, Ms Grażyna Piotrowska-Oliwa meets the required criteria and possesses the necessary qualifications to serve as President of the Management Board of PGNiG SA.

The recruitment process has been carried out with the support of Russell Reynolds Associates Sp. z o.o., a reputed consultancy, in line with the Ministry of State Treasury's Best Practice for selection of candidates for members of governing bodies of companies of strategic significance to the State Treasury.

The recruitment process for the positions of Vice-President of the Management Board for Corporate Matters and Vice-President of the Management Board for Sales has not yet been completed.

The newly-appointed President of the Management Board is not engaged in any activities competitive to PGNiG's business. Ms Grażyna Piotrowska-Oliwa is not a partner in any competitive civil-law partnership or another type of partnership, or member of the governing bodies of any company competitive to PGNiG. She is not entered in the Register of Insolvent Debtors maintained under the National Court Register Act.

Ms Grażyna Piotrowska-Oliwa graduated from the Academy of Music in Katowice (1993), and the National School of Public Administration in Warsaw (1997); she also holds an Executive MBA degree from INSEAD (2005). Further, Ms Piotrowska-Oliwa completed a strategic planning course at Queens University, Canada (1996), a course for candidates for supervisory board members at companies in which the State Treasury holds equity interests (exam passed in 1997), a course for investment advisors at the Privatisation Centre (1998), as well as courses in macroeconomics and finance at London School of Economics (1999). In 1997-2001, Ms Piotrowska-Oliwa worked at the Ministry of the State Treasury as Head of Capital Funds Department and Head of Strategic Companies and Financial Institutions Department. Subsequently, she held positions of Director of Regulator Relations Department (2001-2006) and Executive Director for Strategy, Development and Wholesale Accounts (2006-2007) at Telekomunikacja Polska S.A. In 2007-2009, Ms Piotrowska-Oliwa was the CEO and President of the Management Board of PTK Centertel Sp. z o.o., the Orange mobile network operator, and from November 2010 to March 2011 she worked as an advisor on telecommunications transactions on the private equity market. Since April 2007, she has served as Vice-President of Employers of Poland on a voluntary basis. Ms Piotrowska-Oliwa also held positions on supervisory boards Fundusz Górnośląski S.A. of Katowice, the Polish National Depository for Securities, PZU S.A. and ABC DATA S.A., among others. Since June 2011, she has held the position of Management Board Member for Sales at PKN Orlen S.A. and since November 1st 2011, she has served as the Chairwoman of the Supervisory Board of ORLEN Deutschland GmbH.

Ms Grażyna Piotrowska-Oliwa declared that today she tendered her resignation from the position of the Management Board Member at PKN Orlen S.A., with effect as of March 18th 2012, and that on March 18th 2012 she would resign as the Chairwoman of the Supervisory Board of ORLEN Deutschland GmbH with immediate effect.

Joanna Zakrzewska

Press Officer