KGHM Polska Miedź S.A.

Capital/Financing Update • May 29, 2024

Report Content Consent of the Company's Management Board to establish a Bond IssuanceProgram

The Management Board of KGHM Polska Miedź S.A. ("the Company") announcesthat on 29 May 2024 it adopted a resolution on concluding a bondissuance agreement, on the basis of which a bond issuance program up tothe amount of PLN 4 000 000 000 ("Program") will be established.

The bond issuance agreement, whose Parties are KGHM Polska Miedź S.A. asIssuer, and Powszechna Kasa Oszczędności Bank Polski Spółka Akcyjna,Bank Polska Kasa Opieki Spółka Akcyjna and Santander Bank Polska SpółkaAkcyjna as Organisers and Dealers, will be signed on 29 May 2024.

Under the Program, the bonds will be issued pursuant to art. 33 point 1)in connection with art. 34 section 2 of the Act on Bonds of 15 January2015, and offers to purchase the bonds will be sent to selectedinstitutional investors, who are qualified investors pursuant toRegulation (EU) 2017/1129 of the European Parliament and of the Councilof 14 June 2017 as regards the prospectus to be published whensecurities are offered to the public or admitted to trading on aregulated market, and repealing Directive 2003/71/EC.

The Management Board of the Company announces that it is considering theissuance under the Program using the following assumptions:

1) The issuance will take place in June 2024.

2) The maturity of the issued bonds will be 7 years from the issuancedate.

3) The bonds will be unsecured ordinary bearer bonds with a variableinterest rate.

4) The bonds will be registered in the securities depository operated bythe Polish depository Krajowy Depozyt Papierów Wartościowych S.A. andwill be placed on the Catalyst market, in the Alternative Trading System.

The final decision on the issuance of the bonds, as well as detailedterms of the issuance, including the size of the issuance, the nominalvalue of the bonds, the interest margin and the date of the issuancewill be set by the Company at a later date.

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)