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LOTOS Jazz Festival

New Lechia Gdańsk Football Academy centre in Kokoszki

LOTOS’s new offshore platform now in the Baltic

Tenth anniversary of LOTOS Serwis

Diagnostic video ultrasonography equipment for a hospital in Gdańsk-Zaspa

The 'White and green future with LOTOS' programme opens its eleventh academy

New Lechia Gdańsk Football Academy centre in Kokoszki

Final round of the Jasło Science League with LOTOS

First event under the ‘LOTOS Safety Belt Champions’ (‘LOTOS - Mistrzowie w pasach’) programme

LOTOS Junior Cup 2014 finals

Recap of the spring round of cruises under the Maritime Education programme

LOTOS Safety Belt Champions in Koszwały
LOTOS Kolej with a new locomotive

Motorcycle Rider Card Navigator and more

LOTOS Polish Open 2014

First transaction by Polskie Inwestycje Rozwojowe

Włodzimierz Karpiński, Minister of the State Treasury, visits the LOTOS PETROBALTIC offshore rig

Thirteenth ‘White and Green Future with LOTOS’ centre

Green light given to LOTOS share issue

LOTOS Kolej at the InnoTrans 2014 fair

A new branch of the Lechia Gdańsk Football Academy opens in Malbork

LOTOS Petrobaltic helps recover Douglas A-20 wreck from the Baltic Sea bottom

New image-building campaign at LOTOS

Polish shipyards to modernise the Petrobaltic platform
Tenth anniversary of the LOTOS Academy

Final gala of the pilot 'LOTOS Safety Belt Champions' programme

First screening of 'Dynamic people – the Process Operator'

LOTOS Trefl Gdańsk volleyball team at the Gdańsk refinery

Polish crude oil from Lubiatów reaches the LOTOS refinery

Grupa LOTOS Is the Major Sponsor of the Polish National Football Team

Strong performance after one year of operating DRAGON locomotives

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Lotos

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Table of contents
Financial Topics
Environmental Topics
Social Topics

The Organization and its Report

Key data 2014 Letter from the Chairman of the Supervisory Board Letter from the President of the Board The Organization Integrated reporting Awards and distinctions Membership in organizations

Ethics and corporate governance

Approach to management Ethics Corporate supervision The Supervisory Board The Board

Risk and opportunities

Enterprise risk management policy Management segment Exploration and production segment Operational (refining) segment Financial segment Marketing segment

Business strategy and model

Business model Strategic objectives Key objectives Employees Environment Brand

Results and prospects

Business environment Letter from the Vice-President of the Board Segment performance Sustainable development

Financial information

Financial highlights - consolidated the LOTOS Group Consolidated Financial Statements for 2014 Auditor’s opinion Auditor’s report Management’s discussion and analysis Interactive LOTOS Databook

Useful information

Calendar of important events 2014 GRI and UN Global Compact Content Index Glossary of industry terms Glossary of social terms Contact

Financial information

The past year ushered in a series of challenges for the companies in the fuel sector. The decisions made by us have demonstrated that we are able to take rapid steps to adapt to a demanding environment and ensure the desired profitability for our projects.

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Segment performance

The segmental management model we have implemented enhances management efficiency, delivering cost and revenue synergies across the organization.

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Letter from the Vice-President of the Board

2014 ushered in a series of challenges for the companies in the fuel sector. The decisions made by the LOTOS Group have demonstrated that we are able to take rapid steps to adapt to a demanding environment and ensure the desired profitability for our projects.

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Business environment

The key factor that had a strong impact on both the global and Polish petroleum markets in 2014, with significant consequences for the LOTOS Group’s performance, was the price of crude oil, which also determined the price of petroleum products.

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Strategic objectives

The LOTOS Group’s Strategy is designed to strengthen our position as a strong, innovative and efficient business which plays a major role in ensuring national energy security.

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Business model

Our operations consist in crude oil production and processing, as well as wholesale and retail sale of petroleum products, among which are: fuels (unleaded gasoline, diesel oil and light fuel oil), heavy fuel oil, bitumens, aviation fuel, naphtha, propane-butane LPG and base oils.

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Risk and opportunities

At the LOTOS Group, we identify a range of diverse risks, which may affect all areas of our business. The key risks in terms of their impact on our operations are the financial risks as well as risks affecting the exploration and production area. In the analysis of the risks, we also factor in issues related to sustainable development.

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Key data 2014

With revenue of ca. PLN 28.5bn in 2014, we rank fourth in the group of 500 largest businesses in Poland.

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Environment

We seek to reduce the environmental risk of our operations and continually minimise our environmental impact. We support initiatives designed to enhance energy sector security in a socially and environmentally responsible manner.

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Environmental impact

Our carbon emissions were reduced to levels seen only at the best European refineries. Grupa LOTOS refinery’s advanced environmental solutions have curbed our environmental impacts while delivering notable financial benefits, in the form of lower fees for the use of the environment, resulting from our commitment to reducing the amount of emitted pollutants.

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Management segment

In the management segment, we identify political, legal, reputation and social risks as well as the risk of misconduct.

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Employees

Our objective is to ensure the availability of highly qualified staff required for successful implementation of the LOTOS Group’s business strategy and enhancement of the corporate culture based on adopted values. It is our priority to raise awareness and commitment among our employees and contractors to improving their work safety.

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Social impact

2014 was outstanding in terms of the number of CSR programmes and campaigns as well as activities undertaken by the LOTOS Group under the cross-sectoral cooperation model. It was also a period of initiatives aimed to establish a responsible supply chain.

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