KGHM Polska Miedź S.A.

Earnings Release • May 22, 2018

Production of KGHM Polska Miedź S.A.
Copper in concentrate (kt)	389
Silver in concentrate (t)	1 179
Electrolytic copper (kt)	494
- including from own concentrate	381
Metallic silver (t)	1 166
Sales of KGHM Polska Miedź S.A.
Payable copper (kt), including 22 thousand tonnes of copper in concentrate	506
Payable silver (t), including 78 tonnes of silver in concentrate	1 208

Production of KGHM International
Payable copper (kt)	82
TPM (koz t)	86

Production of Sierra Gorda (on a 55% basis)
Payable copper (kt)	59
Molybdenum (mn lbs)	17

The expected pre-precious metals credit unit cost of copper production from own concentrate(1) in KGHM Polska Miedź S.A. amounts to 19.1 thousand PLN/t.

KGHM Polska Miedź S.A.'s capital expenditures on property, plant and equipment planned for 2018 amount to PLN 2 670 million, while other capital expenditures (2) (including loans) amount to PLN 657 million.

• (1) The sum of costs of mining, floatation, smelter processing per cathode and support functions, together with cathode selling costs, adjusted by the value of inventories of half-finished products and work in progress, less anode slimes and divided by the volume of electrolytic copper production from own concentrate
• (2) Acquisition of shares and investment certificates of subsidiaries and loans granted to these subsidiaries

Legal basis: Art. 17 (1) of MAR (Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC (Official Journal of the European Union dated 12 June 2014, no. L 173/1)