CORRAL PETROLEUM HOLDINGS AB (publ) Report for the first quarter ended March 31, 2016

FOR IMMEDIATE RELEASE

Date: May 26, 2016

London

This report includes unaudited consolidated financial information of Corral Petroleum Holdings AB (publ) (“Corral Petroleum Holdings”) and its consolidated subsidiaries, for the first quarter of 2016 and for the comparative period in 2015.

Financial highlights

  • Sales revenue for the first quarter of 2016 amounted to 11,726 MSEK compared to 16,598 MSEK in the first quarter of 2015.
  • EBITDA[1] for the first quarter of 2016 amounted to 1,022 MSEK compared to 1,550 MSEK in the first quarter of 2015.
  • Adjusted EBITDA[1] for the first quarter of 2016 amounted to 873 MSEK compared to 1,266 MSEK in the first quarter of 2015.
  • Operating profit for the first quarter of 2016 amounted to 775 MSEK compared to 1,316 MSEK in the first quarter of 2015.
  • Net income for the first quarter of 2016 amounted to 395 MSEK compared to a net loss of 219 MSEK in the first quarter of 2015.
  • Cash flow from operating activities for the first quarter of 2016 was 2,655 MSEK compared to cash flow from operating activities of 1,621 MSEK in the first quarter of 2015.
  • Weighted business refining margin for the first quarter of 2016 was 4.19 $/bbl compared to 6.26 $/bbl in the first quarter of 2015.

[1] For a reconciliation of our EBITDA and EBITDA to Adjusted EBITDA, please see the financial statements section on page 13.

About Us

We are the largest oil refining company in the Nordic region in terms of capacity. We conduct our business through our wholly owned operating company, Preem, which operates its business through two segments, a Supply and Refining segment and a Marketing and Sales segment. We refine crude oil in Sweden and then market and sell refined products primarily in Sweden and other northwestern European markets, including Scandinavia, France, Germany and the United Kingdom, as well as the United States and, to a lesser extent, other markets.

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