GUNVOR UNDERWRITES PA RESOURCES' RIGHTS ISSUE

GENEVA (5 June 2013) – Gunvor Group today affirmed its commitment to PA Resources through its support for the company’s recapitalization measures. Gunvor, along with others, will fully underwrite a rights issue of SEK 891 mil. put forth by PA Resources.

PA Resources is involved in oil and gas exploration and extraction, and is listed on the Nasdaq OMX Stockholm Exchange. It recently announced a set of measures and proposals designed to strengthen its capital base and improve its operations.

Gunvor Group CEO Torbjörn Törnqvist said: “PA Resources has had a difficult time, but we believe is turning a page. Its move to bring in a new, experienced and international board and management will help realize the company’s potential.”

Gunvor has served an off-taker of crude oil extracted by PA Resources and currently possesses a 9.9 percent stake in the company. Such an investment in the upstream sector furthers Gunvor’s strategy of diversifying along the energy supply chain.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           

For more information on PA Resources: www.paresources.se.

Contact:

Communications Director
Seth Thomas Pietras
+41 79 870 6290
seth.pietras@gunvortrade.ch

About Gunvor Group

Gunvor Group is one of the world’s largest independent commodities trading houses by turnover, creating logistics solutions that safely and efficiently move physical energy from where it is sourced and stored to where it is demanded most. With strategic investments in energy infrastructure—refineries, pipelines, storage, terminals and coal mining—Gunvor further generates sustainable value across the global supply chain for its customers. More information can be found at www.gunvorgroup.com or @Gunvor.