KGHM Polska Miedź S.A.

Management Reports • Dec 18, 2024

Main assumptions of the Budget for 2025

Production of KGHM Polska Miedź S.A.
Copper in concentrate (kt)	392.3
Silver in concentrate (t)	1 278
Electrolytic copper (kt)	567.1
-including from own concentrate	375.4

Sales of KGHM Polska Miedź S.A.
Payable copper (kt)	572.9
Payable silver (t)	1 261

Production of KGHM International
Payable copper (kt)	52.1
TPM (koz t)	36.2

Production of Sierra Gorda (on a 55% basis)
Payable copper (kt)	87.2
Molybdenum (mn lbs)	4.1

The expected total unit cost of copper production from own concentrate(1) in KGHM Polska Miedź S.A. amounts to 35 375 PLN/t.

KGHM Polska Miedź S.A.'s capital expenditures on property, plant and equipment(2) planned for 2025 amount to PLN 3 800 million, while other capital expenditures(3) amount to PLN 679 million.

• (1) The sum of costs of mining, flotation, smelter processing per electrolytic copper, together with support functions and cathode selling costs, adjusted by the value of inventories of half-finished products and work in progress, less anode slimes and divided by the volume of electrolytic copper production from own concentrate
• (2) Excluding cost of borrowing, lease pursuant to IFRS 16 not related to the investment project as well as expenditures on uncompleted development work
• (3) Acquisition of shares, investment certificates and loans.

Legal basis: Art. 17 (1) of MAR (Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC (Official Journal of the European Union dated 12 June 2014, no. L 173/1)