The Management Board of Grupa LOTOS Conflict of interests policy

Conflict of interests policy

To avoid the conflict of interests, Grupa LOTOS follows the provisions of the Code of Commercial Companies, the Regulations of the Management Board and the ‘Best Practices for Companies Listed on the Warsaw Stock Exchange’. According to the Regulations of the Management Board and in relation to Article 377 of the Code, in case of any conflicts of interests of Grupa LOTOS with the personal interests of a member of the Management Board or any persons they are related to, a member of Management Board should refrain from participating in resolving such issues. Moreover, according to the ‘Best Practices for Companies Listed on the Warsaw Stock Exchange’, a member of the Management Board should advise the Management Board of the existing conflict of interests or its potential occurrence and refrain from participating in the discussion and voting on a resolution that concerns this issue. According to the Regulations of the Management Board, accepting positions by the members of the Management Board in supervising or managing authorities of other entities requires consent of the Supervisory Board. Furthermore, the provisions of the Code apply, which ban members of the Management Board from being a member of the Supervisory Board at the same time. This provisions concerns also other persons who are directly subordinate to a member of the Management Board.