Corral Petroleum Holdings AB (publ) Business Update ... - Preem

“IFRS” refers to the International Financial Reporting Standards, as issued by the International Accounting StandardsBoard (“IASB”) as adopted by the EU;“Moroncha Holdings” refers to Moroncha Holdings Co. Limited, the parent company of Corral Petroleum Holdings;“Moroncha Note” refers to a promissory note issued by Corral Petroleum Holdings to Moroncha Holdings in theprincipal amount of SEK 6,500 million in connection with the Former Corral Petroleum Holdings Acquisition;“New Credit Facility” refers to the $1,850 million (equivalent) revolving credit facilities (of which $73 million(equivalent) is uncommitted working capital facilities) and $650 million (equivalent) term loan facilities for Preempursuant to a facilities agreement among Preem, as borrower, Danske Bank A/S Danmark, Sweden Branch, DnB NORBank ASA, Nordea Bank AB (publ), Skandinaviska Enskilda Banken AB (publ), Svenska Handelsbanken AB (publ) andSwedbank AB (publ) as coordinating mandated lead arrangers and lenders, Skandinaviska Enskilda Banken AB (publ),as facility agent, Skandinaviska Enskilda Banken AB (publ) as factoring bank and Svenska Handelsbanken AB (publ) asfronting bank;“Preem” refers to Preem AB (publ), the direct, wholly owned subsidiary of Corral Petroleum Holdings;“Preem group” refers to Preem and all of its subsidiaries;“Subordinated Notes” refers to the euro denominated Varying Rate Subordinated Notes due 2015 (originally issued in anaggregate principal amount of €78,588,101) and to the dollar denominated Varying Rate Subordinated Notes due 2015(originally issued in an aggregate principal amount of $35,058,579) issued by Corral Petroleum Holdings;“Subordinated Noteholder” means the holder of Subordinated Notes;“Trustee” refers to Deutsche Trustee Company Limited;“Ultimate Shareholder” refers to Mohammed Hussein Al-Amoudi;“United States” or the “U.S.” refers to the United States of America; and“we,” “us,” “our,” “Group” and other similar terms refer to Corral Petroleum Holdings and its consolidated subsidiaries,including Preem, except where the context otherwise requires.In the petroleum refining industry, crude oil and refined product amounts are generally stated in cubic meters (“m 3 ”)or barrels, each of which is a unit of volume, or in metric tonnes (“tons”), a unit of weight, depending on the product and thereason for which the amount is being measured. These volumes may be expressed in terms of barrels. A barrel (“bbl”)contains 42 U.S. gallons. We have converted cubic meters to barrels at the rate of 1 cubic meter=6.2898 barrels.3