Grupa Azoty S.A.

Audit Report / Information • Sep 9, 2021

BDO spółka z ograniczoną odpowiedzialnością sp.k. ul. Postępu 12 02-676 Warsaw, Poland

INDEPENDENT AUDITOR'S REPORT ON REVIEW OF INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE SHAREHOLDERS AND SUPERVISORY BOARD OF GRUPA AZOTY S.A.

Introduction

We have reviewed the accompanying interim condensed consolidated financial statements of the Grupa Azoty Group, whose parent is Grupa Azoty S.A. (the "Parent"), with its registered office at ul. Kwiatkowskiego 8, Tarnów, Poland, comprising the interim condensed consolidated statement of financial position as at June 30th 2021, interim condensed consolidated statement of profit or loss and other comprehensive income for the period January 1st-June 30th 2021, interim condensed consolidated statement of changes in equity for the period January 1st-June 30th 2021, interim condensed consolidated statement of cash flows for the period January 1st-June 30th 2021, and other notes to the financial statements (the "interim condensed consolidated financial statements").

Management of the Parent is responsible for the preparation and presentation of the interim condensed consolidated financial statements in accordance with International Accounting Standard 34 Interim Financial Reporting, published in the form of the European Commission regulation.

Our responsibility was to express a conclusion on the interim condensed consolidated financial statements based on our review.

Scope of the review

We conducted our review in accordance with Polish Financial Auditing Standard 2410 compliant with International Standard on Review Engagements 2410 Review of Interim Financial Information Performed by the Independent Auditor of the Entity, adopted by resolution of the National Council of Statutory Auditors.

A review of financial statements consists of making inquiries, primarily of persons responsible for the entity's financial and accounting matters, and applying analytical and other review procedures.

A review is substantially less in scope than an audit performed in accordance with National Standards on Auditing compliant with International Standards on Auditing and thus does not provide us with assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion on the interim condensed consolidated financial statements.

BDO spółka z ograniczoną odpowiedzialnością sp.k., District Court for the Capital City of Warsaw, 13th Commercial Division, National Court Register (KRS): 0000729684, Industry Identification Number (REGON): 141222257, Tax Identification Number (NIP): 108-000-42-12. BDO offices in Poland: Ul. Uniwersytecka 13, 40-007 Katowice, phone: +48 32 661 06 00, katowice@bdo.pl; Al. Pokoju 1, 31-548 Kraków, phone: +48 12 378 69 00, krakow@bdo.pl; Ul. Piątkowska 165, 60-650 Poznań, phone: +48 61 622 57 00, poznan@bdo.pl; Ul. Powstańców Śląskich 7a, 53-332 Wrocław, phone: +48 71 734 28 00, wroclaw@bdo.pl

Conclusion

Based on our review, nothing has come to our attention that would cause us to believe that the accompanying consolidated financial statements have not been prepared, in all material respects, in accordance with International Accounting Standard 34 Interim Financial Reporting, published in the form of the European Commission regulation.

BDO spółka z ograniczoną odpowiedzialnością sp.k. of Warsaw entered in the list of audit firms under Reg. No. 3355

on behalf of which the auditor reviewed the financial statements

Marcin Krupa Auditor registered under No. 11142

Kraków, September 9th 2021