KGHM Polska Miedź S.A.

Capital/Financing Update • Feb 7, 2024

Consent to sign a credit agreement

The Management Board of KGHM Polska Miedź S.A. announces that on 7February 2024 it consented to sign an unsecured, revolving creditagreement with Bank Gospodarstwa Krajowego in the amount of USD 450million for a financing period of up to 60 months, with an option toextend it by a subsequent 24 months (henceforth "the Agreement").

During the credit's availability period, that is 36 months from the dateof signing the Agreement, the credit is a renewable credit line (everyrepayment renews the available credit limit) and beginning from thefirst day after the period of 36 months from the date of signing theAgreement, the credit will be transformed into a non-renewable loan tobe repaid in four equal, semi-annual principal instalments (unless it isextended as per the conditions described below). Every repayment of aprincipal instalment will decrease the amount of credit until the creditis fully repaid.

Moreover, the credit has 2 options to extend its availability period inthe form of a renewable credit line:

• 1st extension option by a subsequent 24 months at the Company'srequest after 30 months,

• 2nd extension option by a subsequent 24 months at the Company'srequest after 54 months.

Pursuant to the terms of the Agreement, the credit may be drawn in USD.The financial resources acquired from the credit will be used to financegeneral corporate purposes. Interest on the credit was set based on SOFRplus a margin, depending on the level of the financial ratio of netdebt/EBITDA. Other credit terms are standard terms for these types oftransactions.

The aforementioned Agreement replaces the credit agreement with BankGospodarstwa Krajowego from 2019, which was announced by the Company viaregulatory filing no. 7/2019 dated 25 February 2019.

Furthermore, the Management Board of KGHM Polska Miedź S.A. announcesthat the signing of the Agreement is planned on or before 26 February2024. If the Agreement is not signed at the aforementioned date, theCompany will announce this fact in a separate regulatory filing.

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)