KGHM Polska Miedź S.A.

Environmental & Social Information • Mar 9, 2023

Update of the Climate Policy by the Management Board of KGHM PolskaMiedź S.A.

The Management Board of KGHM Polska Miedź S.A. ("Company", "KGHM")announces, in reference to regulatory filing no. 45/2021 dated 16November 2021, that today it adopted a resolution on the adoption ofupdated wording of the "Climate Policy of KGHM Polska Miedź S.A."("Climate Policy").

In the first edition of the Climate Policy, the Company committed topublicly disclose the reduction targets for the entire KGHM Group nolater than in the first half of 2023.

Due to the highly volatile situation on the energy markets, theunforeseeable global economic situation and the overall impact ofRussia's aggression on Ukraine on the international situation, it isnecessary to change the date of preparation of the entireDecarbonization Program of the KGHM Group and subsequently the climatetargets for the KGHM Group. The aforementioned factors make itsignificantly more difficult to model CAPEX and OPEX, and as a resultalso NPV for the decarbonization initiatives of the Group.

As a result of the above, it is necessary to change the date of settingthe climate targets for the KGHM Group from the first half of 2023 tothe end of 2024.

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).