KGHM Polska Miedź S.A.

Capital/Financing Update • Feb 25, 2019

Consent to sign a credit agreement

The Management Board of KGHM Polska Miedź S.A. announces than on 25February 2019 it consented to sign an unsecured, revolving creditagreement with Bank Gospodarstwa Krajowego with a financing period of upto 84 months, as a renewable credit line in the amount of USD 450million for a period of 60 months, with the option to transform it intoa non-renewable credit after 60 months.

Each repayment of the credit made during the availability period, thatis until 60 months from the date of signing the credit agreement, willrenew the available credit limit. Beginning from the first day after theperiod of 60 months from the date of signing the credit agreement haselapsed, the credit will be transformed into a non-renewable credit tobe repaid in four equal, semi-annual principal instalments. Everyrepayment of a principal instalment will decrease the amount of credituntil the credit is fully repaid.

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 onLIBOR plus a margin, depending on the level of the financial ratio ofnet debt/EBITDA. Other credit terms are standard terms for these typesof transactions.

Furthermore, the Management Board of KGHM Polska Miedź S.A. announcesthat it plans to sign the agreement on 27 February 2019. If theagreement is not signed on 27 February 2019, the Company will announcethis 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)