KGHM Polska Miedź S.A.

Annual / Quarterly Financial Statement • Mar 22, 2023

1 Translation from the original Polish version. In the event of differences resulting from the translation, reference should be made to the official Polish version. Report on the evaluation of the separate financial statements of KGHM Polska Miedź S.A. for the financial year ended 31 December 2022, the consolidated financial statements of the KGHM Polska Miedź S.A. Group for the financial year ended 31 December 2022 and the Management Board’s report on the activities of KGHM Polska Miedź S.A. and the KGHM Polska Miedź S.A. Group in 2022, in terms of their compliance with the accounts, documents and factual state In accordance with art. 382 § 3 of the Commercial Partnerships and Companies Code, § 70 sec. 1 point 14 and § 71 sec. 1 point 12 of the Decree of the Minister of Finance dated 29 March 2018 on current and periodic information published by issuers of securities and conditions for recognising as equivalent information required by the laws of a non-member state and § 20 sec. 2 points 1) and 3) of the Statutes of KGHM Polska Miedź S.A., based on:  the contents of documents presented by the Management Board of KGHM Polska Miedź S.A., in particular: 1) The separate financial statements of KGHM Polska Miedź S.A. for the financial year ended 31 December 2022, 2) The consolidated financial statements of the KGHM Polska Miedź S.A. Group for the financial year ended 31 December 2022, 3) The Management Board’s report on the activities of KGHM Polska Miedź S.A. and the KGHM Polska Miedź S.A. Group in 2022,  the auditor’s report on the audit of the separate financial statements of KGHM Polska Miedź S.A. for the financial year ended 31 December 2022,  the auditor’s report on the audit of the consolidated financial statements of the KGHM Polska Miedź S.A. Group for the financial year ended 31 December 2022,  the additional report of the auditor for the Audit Committee of the Supervisory Board of KGHM Polska Miedź S.A., and also based on:  meetings of the Supervisory Board with representatives of the auditing company, including with the key certified auditor, and  recommendations of the Audit Committee of the Supervisory Board of KGHM Polska Miedź S.A. regarding providing an opinion on the audited financial statements. On 21 March 2023, the Supervisory Board of KGHM Polska Miedź S.A. positively evaluated the following: 1) The separate financial statements of KGHM Polska Miedź S.A. for the financial year ended 31 December 2022, 2) The consolidated financial statements of the KGHM Polska Miedź S.A. Group for the financial year ended 31 December 2022, 3) The Management Board’s report on the activities of KGHM Polska Miedź S.A. and the KGHM Polska Miedź S.A. Group in 2022. 2 Translation from the original Polish version. In the event of differences resulting from the translation, reference should be made to the official Polish version. The results of the evaluation with the justification are presented below. 1. Evaluation of the separate financial statements of KGHM Polska Miedź S.A. for the financial year ended 31 December 2022 The Supervisory Board reviewed and analysed the separate financial statements of KGHM Polska Miedź S.A. for the financial year ended 31 December 2022, comprising:  The separate statement of profit or loss showing a profit for the period of PLN 3 533 million  The separate statement of comprehensive income with a total positive comprehensive income of PLN 4 435 million  The separate statement of cash flows showing a decrease in net cash flow of PLN 344 million  The separate statement of financial position showing total assets and total equity and liabilities of PLN 47 995 million  The separate statement of changes in equity showing an increase in equity of PLN 3 835 million  Explanatory notes to the separate financial statements, and reviewed the results of the audit carried out by the auditor of KGHM Polska Miedź S.A. (PricewaterhouseCoopers Polska Spółka z ograniczoną odpowiedzialnością Audyt Sp.k.). In accordance with the auditor’s report issued by the certified auditor, the separate financial statements were prepared in compliance with International Financial Reporting Standards approved by the European Union and:  accurately and clearly reflect the financial position and assets of the Company as at 31 December 2022 as well as its financial result and cash flow,  is compliant in form and content with the existing laws under which the Company operates as well as with the Company’s Statutes, and  were prepared on the basis of properly-maintained accounts in compliance with chapter 2 of the accounting act. The Supervisory Board hereby declares that the separate financial statements of KGHM Polska Miedź S.A. for the financial year ended 31 December 2022 were prepared in all material aspects in accordance with International Financial Reporting Standards and is compliant with the accounts and documents, as well as the factual state. 3 Translation from the original Polish version. In the event of differences resulting from the translation, reference should be made to the official Polish version. 2. Evaluation of the consolidated financial statements of the KGHM Polska Miedź S.A. Group for the financial year ended 31 December 2022 The Supervisory Board reviewed and analysed the consolidated financial statements of the KGHM Polska Miedź S.A. Group for the financial year ended 31 December 2022, comprising:  The consolidated statement of profit or loss showing a profit for the period of PLN 4 774 million  The consolidated statement of comprehensive income with a total positive comprehensive income of PLN 5 645 million  The consolidated statement of cash flows showing a decrease in net cash flow of PLN 677 million  The consolidated statement of financial position showing total assets and total equity and liabilities of PLN 53 444 million  The consolidated statement of changes in equity showing an increase in equity of PLN 5 008 million  Explanatory notes to the consolidated financial statements, and reviewed the results of the audit carried out by the auditor of KGHM Polska Miedź S.A. (PricewaterhouseCoopers Polska Spółka z ograniczoną odpowiedzialnością Audyt Sp.k.). In accordance with the auditor’s report issued by the certified auditor, the consolidated financial statements were prepared in compliance with International Financial Reporting Standards approved by the European Union and:  accurately and clearly reflect the financial position and assets of the Group as at 31 December 2022 as well as its financial result and cash flow,  is compliant in form and content with the existing laws under which the Group operates as well as with the Company’s Statutes, and  were prepared on the basis of properly-maintained accounts in compliance with chapter 2 of the accounting act. The Supervisory Board hereby declares that the Consolidated financial statements of the KGHM Polska Miedź S.A. Group for the financial year ended 31 December 2022 were prepared in all material aspects in accordance with International Financial Reporting Standards and is compliant with the accounts and documents, as well as the factual state. 3. Evaluation of the Management Board’s report on the activities of KGHM Polska Miedź S.A. and the KGHM Polska Miedź S.A. Group in 2022. The Supervisory Board evaluated the Management Board’s report on the activities of KGHM Polska Miedź S.A. and the KGHM Polska Miedź S.A. Group in 2022 comprising the statement on non-financial information of KGHM Polska Miedź S.A. and of the KGHM Polska Miedź S.A. Group for 2022 and declares that the report was prepared in accordance with art. 49 of the act dated 4 Translation from the original Polish version. In the event of differences resulting from the translation, reference should be made to the official Polish version. 29 September 1994 on accounting and with §70 and § 71 of the Decree of the Minister of Finance dated 29 March 2018 on current and periodic information published by issuers of securities and conditions for recognising as equivalent information required by the laws of a non-member state and is compliant with the information contained in the separate financial statements of KGHM Polska Miedź S.A. for the financial year ended 31 December 2022 and in the consolidated financial statements of the KGHM Polska Miedź S.A. Group for the financial year ended 31 December 2022. The Management Board’s report on the activities of KGHM Polska Miedź S.A. and the KGHM Polska Miedź S.A. Group accurately and clearly reflects the economic and financial position of the Company and the KGHM Polska Miedź S.A. Group. The completeness of the Management Board’s report on the activities of KGHM Polska Miedź S.A. and the KGHM Polska Miedź S.A. Group and the correctness of the disclosed information, was confirmed by the certified auditor. Furthermore, the certified auditor, in its auditor’s report, confirmed that the Company provided in the Management Board’s report information on the statement on non-financial information, as provided for in art. 49b sec. 9 of the Act on accounting. Consequently, the Supervisory Board positively evaluates the Management Board’s report on the activities of KGHM Polska Miedź S.A. and of the KGHM Polska Miedź S.A Group in 2022 comprising the statement on non-financial information of KGHM Polska Miedź S.A. and of the KGHM Polska Miedź S.A. Group for 2022. appropriate signatures on the original Lubin, dated 21 March 2023 Chairwoman of the Supervisory Board Agnieszka Winnik-Kalemba Member of the Supervisory Board Józef Czyczerski Deputy Chairwoman of the Supervisory Board Katarzyna Krupa Member of the Supervisory Board Przemysław Darowski Secretary of the Supervisory Board Wojciech Zarzycki Member of the Supervisory Board Andrzej Kisielewicz Member of the Supervisory Board Bogusław Szarek Member of the Supervisory Board Marek Wojtków Member of the Supervisory Board Radosław Zimroz Member of the Supervisory Board Piotr Ziubroniewicz