Contents

• Annual Report
• Financial Statements
• Corporate Governance

8. Discontinued Operations

The Group did not discontinue any operations in 2012.

In 2013, the Group is planning to sell Geovita S.A., its hospitality subsidiary, and its jointly-controlled entity InterTransGas GmbH, whose business consists in construction and operation of transmission infrastructure (for a more detailed description of the business and information on its disposal, see Note 38.8).

As at December 31st 2012, the Group presented the assets and equity and liabilities of consolidated entity Geovita S.A. in the statement of financial position under Non-current assets held for sale and Liabilities associated with assets held for sale. InterTransGas GmbH was not consolidated, and the Group's interest in the entity was disclosed under non-current assets held for sale. The companies that the Group has classified as held for sale do not represent any important area of the Group's operations.
Detailed information concerning assets held for sale is presented in Note 24.

Polish Oil & Gas Company (PGNiG SA) KRS 0000059492, NIP 525-000-80-28, share capital 5,900,000,000 PLN – fully paid Headquarters – 25 M. Kasprzaka Street, 01-224 Warsaw, Poland Phone: +48 22 589 45 55, Fax: +48 22 691 82 73