KGHM Polska Miedź S.A.

Capital/Financing Update • Dec 4, 2020

Extension of the term of a syndicated credit facility agreement

The Management Board of KGHM Polska Miedź S.A. ("Company") announcesthat as the result of its request to the financing banks, which wasannounced by the Company via regulatory filing no. 31/2020 dated 27October 2020, to extend the term of an unsecured revolving syndicatedcredit facility agreement in the amount of USD 1 500 million, one of themembers of the syndicate did not exercise its right to extend itscurrent participation after 20 December 2024. The aforementioneddecision stems from internal regulations regarding the equityrequirements of the bank.

The unsecured revolving syndicated credit facility agreement in theamount of USD 1 500 million was entered into on 20 December 2019 for afive-year tenor and has two one-year extension options exercisable atthe request of KGHM Polska Miedź S.A.

As a result of the syndicate members' decision, during the firstextension, that is from 20 December 2024 to 19 December 2025, the amountof available credit facility will amount to USD 1 438 million.

The extension of the agreement represents an advancement of the Strategyof KGHM Polska Miedź S.A. with respect to ensuring long-term financialstability by, among others, basing the financing structure on long-terminstruments.

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)