CORRAL PETROLEUM HOLDINGS AB (PUBL) - Preem

“€” or “euro” refers to the single currency of the participating Member States in the Third Stage of EuropeanEconomic and Monetary Union of the Treaty Establishing the European Community, as amended from time to time;and“SEK,” “krona” or “kronor” refers to the lawful currency of Sweden.DefinitionsIn this Annual Report, unless otherwise provided below:“2007 Notes” refers to the €355,000,000 Floating Rate Split Coupon Notes due 2010 and the $350,000,000 FloatingRate Split Coupon Notes due 2010 issued by Corral Petroleum Holdings pursuant to an indenture dated April 12,2007;“2008 Credit Facility” refers to the combined SEK 7,200 million and $1,783 million revolving credit and term loanfacility for Preem pursuant to a facilities agreement dated September 17, 2008, among Preem, as borrower, MerchantBanking, Skandinaviska Enskilda Banken AB (publ), Handelsbanken Capital Markets and SvenskaHandelsbanken (AB) (publ), as mandated lead arrangers, and certain other financial institutions as lenders; MerchantBanking and Skandinaviska Enskilda Banken AB (publ), as facility agent (the “Facility Agent”), SkandinaviskaEnskilda Banken AB (publ) as factoring bank and Svenska Handelsbanken AB (publ) as issuing bank, as amendedby the First Supplemental Agreement, the Second Supplemental Agreement and the Third Supplemental Agreement;“Adjusted A1 Net Debt” refers to the consolidated interest-bearing liabilities of Preem as determined in accordancewith generally accepted accounting practices less (i) (to the extent included in interest-bearing liabilities) outstandingfacility A1 (as defined in the 2008 Credit Facility) letters of credit and facility A2 (as defined in the 2008 CreditFacility) letters of credit and loans; and (ii) cash and cash equivalents;“Adjusted Equity” refers to the aggregate equity of CPH and its subsidiaries based on the latest consolidatedbalance sheet of CPH and its subsidiaries delivered under the 2008 Credit Facility (audited or unaudited) as adjustedby (i) including any amount attributable to minority interests; (ii) excluding the effect of any revaluation of fixedassets on or following December 31, 2007; and (iii) deducting the amount of any loan made or dividend paid, in eachcase, in accordance with the 2008 Credit Facility, plus the aggregate of any Subordinated Loans;“Adjusted Net Debt” refers to interest bearing liabilities at any time as determined in accordance with generallyaccepted accounting practices less (i) (to the extent included in interest-bearing liabilities) outstanding credits underFacility A and Facility D (each as defined in the 2008 Credit Facility); (ii) consolidated cash and cash equivalents;and (iii) certain subordinated debt;“CMH” refers to Corral Morocco Holdings AB, previously a subsidiary of Former Corral Petroleum Holdings andnow a wholly owned subsidiary of Corral Morocco Gas & Oil;“Corral Finans” refers to Corral Finans AB (publ), which changed its name to Corral Petroleum Holdings witheffect from November 26, 2008;“Corral Morocco Gas & Oil” refers to Corral Morocco Gas & Oil AB, a wholly owned subsidiary of MoronchaHoldings;“Corral Petroleum Holdings” refers to Corral Petroleum Holdings AB (publ) (formerly Corral Finans AB);“CPH” refers to Corral Petroleum Holdings;“Equity” refers to the aggregate equity of CPH and its subsidiaries based on the latest consolidated balance sheet ofCPH and its subsidiaries delivered under the 2008 Credit Facility (audited or unaudited) as adjusted by (i) includingany amount attributable to minority interests; (ii) excluding the effect of any revaluation of fixed assets on orfollowing December 31, 2007; and (iii) deducting the amount of any loan made or dividend paid, in each case, inaccordance with the 2008 Credit Facility.“EU” refers to the European Union;“First Supplemental Agreement” refers to the first supplemental agreement relating to the 2008 Credit Facilityamong Preem, Moroncha Holdings, Petroswede AB, Svenska Petroleum Exploration AB, Handelsbanken CapitalMarkets, Svenska Handelsbanken AB (publ) and the Facility Agent, dated April 8, 2009;“Former Corral Petroleum Holdings Acquisition” refers to the purchase by Corral Petroleum Holdings of all theissued and outstanding shares of Former Corral Petroleum Holdings from Moroncha Holdings in exchange for SEK6,500 million paid by issue of the Moroncha Note in the amount of SEK 6,500 million;“Former Corral Petroleum Holdings” refers to the direct, wholly owned subsidiary of Corral Petroleum Holdings,iii