KGHM Polska Miedź S.A.

Capital/Financing Update • Sep 11, 2024

Report Content Consent to issue a corporate guarantee to Sierra Gorda S.C.M.

The Management Board of KGHM Polska Miedź S.A. ("the Company") announcesthat on 11 September 2024 the Company's Management Board adopted aresolution on consenting to issue a corporate guarantee to secureliabilities of Sierra Gorda S.C.M. ("Sierra Gorda") due to SierraGorda's planned conclusion of a revolving credit facility agreement witha bank consortium.

The realisation of liabilities under the aforementioned revolving creditfacility agreement will be secured by the corporate guarantee issued byboth owners of Sierra Gorda. The maximum value of the guarantee issuedby the Company derives from the shares held in Sierra Gorda (55%) andfrom the total value of the credit facility (up to the amount of USD 500million) and will amount to up to USD 275 million (or PLN 1 067 millionper the NBP's average exchange rate on 10 September 2024).

The funds acquired through the aforementioned financing will be used torefinance the current external debt due to the bank loan granted toSierra Gorda by Bank Gospodarstwa Krajowego, as well as for ongoingactivities of Sierra Gorda.

The funds from the revolving credit facility agreement may be paid outonce all the formal conditions precedent have been met. Moreover, theManagement Board of KGHM Polska Miedź S.A. announces that the Companywill publish a separate regulatory filing if the aforementionedrevolving credit facility agreement is not concluded by 30 September2024 or if the conditions precedent to paying out the funds due to thecredit facility are not met.

Legal basis: Art. 17 (1) of MAR (Regulation (EU) No 596/2014 of theEuropean Parliament and of the Council of 16 April 2014 on market abuse(market abuse regulation) and repealing Directive 2003/6/EC of theEuropean Parliament and of the Council and Commission Directives2003/124/EC, 2003/125/EC and 2004/72/EC (Official Journal of theEuropean Union dated 12 June 2014, no. L 173/1)