KGHM Polska Miedź S.A.

Earnings Release • Jul 21, 2025

Lubin, 21 July 2025

Preliminary production and sales data of the KGHM Polska Miedź S.A. Group for June 2025

The following report contains preliminary monthly data – the final quarterly production and sales results will be published in the consolidated report for the first half of 2025. Data of the KGHM Polska Miedź S.A. Group contain the results of Sierra Gorda S.C.M. reflecting the 55% share held by KGHM Polska Miedź S.A.

Results of the KGHM Group in June 2025 - y/y:

Production and sales of Grupy KGHM	June 2025	June 2024	I - VI 2025	I - VI 2024
Production
Payable copper (kt)	57.5	58.3	344.0	357.6
- including KGHM Polska Miedź S.A.*	45.4	48.2	272.4	292.5
Payable silver (t)	110.7	125.4	657.2	678.4
TPM (koz t)	13.4	13.5	83.7	84.2
Molybdenum (mn lbs)	0.5	0.2	1.7	1.1
Sales
Copper (kt)	63.0	59.0	356.3	359.9
Silver (t)	119.1	147.6	697.1	692.5
TPM (koz t)	16.0	17.2	86.6	86.5
Molybdenum (mn lbs)	0.3	0.2	1.6	1.9

* Production of electrolytic copper

Production of the KGHM Group:

• Production of payable copper amounted to 57.5 thousand tonnes, i.e. was 0.8 thousand tonnes (-1%) lower than the amount recorded in June 2024, with a decrease recorded by KGHM Polska Miedź S.A. (infrastructure maintenance) and an increase by KGHM INTERNATIONAL LTD. and Sierra Gorda S.C.M.
• Production of payable silver amounted to 110.7 tonnes, or lower by 14.7 tonnes (-12%) than the amount recorded in June 2024.
• Production of TPM amounted to 13.4 thousand troy ounces and was at a similar level to that recorded in June 2024. Higher TPM production was recorded by KGHM INTERNATIONAL LTD., while production by Sierra Gorda S.C.M. remained at the level of June 2024, with KGHM Polska Miedź S.A. recording a decrease in gold production by 1.1 thousand troy ounces (-13%).
• Production of molybdenum amounted to 0.5 million pounds, or higher by 150% than the amount recorded in June 2024.

Both in June, as well as in the entire first half of 2025, production of copper, silver and TPM was above the budget targets.

Sales of the KGHM Group:

• Sales of copper amounted to 63.0 thousand tonnes and were higher by 4.0 thousand tonnes (+7%) than sales in June 2024. Higher copper sales were recorded by all of the production assets of the KGHM Group.
• Sales of silver amounted to 119.1 tonnes and were lower by 28.5 tonnes (-19%) than sales in June 2024. Lower silver sales were recorded by KGHM Polska Miedź S.A., with higher sales by Sierra Gorda S.C.M. and KGHM INTERNATIONAL LTD.
• Sales of TPM amounted to 16.0 thousand troy ounces and were lower by 1.2 thousand troy ounces (-7%) than sales in June 2024. Lower TPM sales were recorded by KGHM Polska Miedź S.A., with higher sales by Sierra Gorda S.C.M. and KGHM INTERNATIONAL LTD.
• Sales of molybdenum amounted to 0.3 million pounds and were higher by 0.1 million pounds than sales in June 2024. The increase in molybdenum sales was mainly with respect to Sierra Gorda S.C.M.

Results of KGHM Polska Miedź S.A. in June 2025 - y/y:

Production and sales of KGHM Polska Miedź S.A.	June 2025	June 2024	I - VI 2025	I - VI 2024
Mine production
Copper in concentrate (kt)	33.6	34.2	201.0	205.5
Silver in concentrate (t)	106.6	111.7	659.7	679.7
Metallurgical production
Electrolytic copper (kt)	45.4	48.2	272.4	292.5
- including from own concentrate	30.7	33.2	182.5	193.3
Metallic silver (t)	108.7	123.2	646.3	665.8
TPM (koz t)	7.1	8.2	43.7	44.8
Sales
Copper (kt)	48.3	47.5	285.8	302.6
Silver (t)	115.8	145.0	683.7	679.0
TPM (koz t)	8.6	10.8	47.8	52.6

Production of KGHM Polska Miedź S.A.:

• Production of copper in concentrate amounted to 33.6 thousand tonnes and was lower by 0.6 thousand tonnes (-2%) compared to June 2024. The decrease in production was due to lower extraction of ore by the mines and lower processing by the concentrators.
• Production of silver in concentrate amounted to 106.6 tonnes and was lower by 5.1 tonnes (-5%) compared to June 2024, due to the lower processing of ore.
• Production of electrolytic copper amounted to 45.4 thousand tonnes and was lower by 2.8 thousand tonnes (-6%) compared to June 2024. The decrease in cathode production was due to the planned maintenance of rails and current disconnectors at the Głogów II Copper Smelter and Refinery.
• Production of metallic silver amounted to 108.7 tonnes and was lower by 14.5 tonnes (-12%) compared to June 2024. The decrease in metallic silver production was due to the lower availability of charge materials at the Precious Metals Plant of the Głogów Copper Smelter and Refinery.

Sales of KGHM Polska Miedź S.A.:

• Sales of copper amounted to 48.3 thousand tonnes and were higher by 0.8 thousand tonnes (+2%) compared to sales in June 2024.
• Sales of silver amounted to 115.8 tonnes and were lower by 29.2 tonnes (-20%) compared to sales in June 2024. The difference was due to conformance to the schedule of sales to customers.
• Sales of TPM amounted to 8.6 thousand troy ounces and were lower by 2.2 thousand troy ounces (-20%) compared to sales in June 2024. The difference was due to lower production of gold in June 2025 compared to June 2024 and to conformance to the schedule of sales to customers.

Results of KGHM INTERNATIONAL LTD. in June 2025 - y/y:

Production and sales of KGHM INTERNATIONAL LTD.	June 2025	June 2024	I - VI 2025	I - VI 2024
Production
Payable copper (kt)	4.4	3.1	29.2	29.4
TPM (koz t)	3.5	2.6	25.3	25.6
Sales
Copper (kt)	5.4	4.4	27.7	22.5
TPM (koz t)	4.2	3.6	23.8	20.4
Silver (t)	0.8	0.4	2.6	1.9

Production of KGHM INTERNATIONAL LTD.:

• Production of payable copper amounted to 4.4 thousand tonnes and was higher by 1.3 thousand tonnes (+42%) compared to June 2024 due to higher production by the Robinson mine (+1.52 thousand tonnes – higher copper content in feed, higher recovery and processing volume). The lack of production by the Sudbury Basin mines due to the closing of the sale transaction of a portion of the assets of the Sudbury Basin to Magna Mining Inc. in February 2025 (impact on June y/y: – 0.15 thousand tonnes) and lower production by the Carlota mine (-0.03 thousand tonnes) slightly reduced the amount of payable copper produced by KGHM INTERNATIONAL LTD.
• Production of TPM amounted to 3.5 thousand troy ounces and was higher by 0.9 thousand troy ounces (+35%) compared to June 2024 due to higher production of gold by the Robinson mine (+1.8 thousand troy ounces: higher processing volume and higher recovery parameters offset lower gold content in feed) despite the lack of TPM production by the Sudbury Basin due to the sale of a portion of the assets (-0.8 thousand troy ounces).

Sales of KGHM INTERNATIONAL LTD.:

• Sales of copper amounted to 5.4 thousand tonnes and were higher by 1.0 thousand tonnes (+23%) compared to sales in June 2024. The main factor in sales growth was the higher volume of copper concentrate sold by the Robinson mine by around 5 thousand tonnes in June 2025 and the higher copper content in this concentrate. Higher cathode sales were also recorded by the Carlota mine.
• Sales of TPM amounted to 4.2 thousand troy ounces and were higher by 0.6 thousand troy ounces (+17%) compared to sales in June 2024. This was due to the higher volume of copper concentrate sold by the Robinson mine in June 2025 and the higher content of gold in this concentrate.
• Sales of silver amounted to 0.8 tonnes and were higher by 0.4 tonnes compared to sales in June 2024. Similarly as in the case of gold, this result was due both to the higher volume of copper concentrate sold by the Robinson mine in June 2025, as well as to the higher content of silver in the deliveries carried out during this period.

Results of Sierra Gorda S.C.M. in June 2025 - y/y:

Production and sales of Sierra Gorda S.C.M. (on a 55% basis)	June 2025	June 2024	I - VI 2025	I - VI 2024
Production
Payable copper (kt)	7.7	7.1	42.4	35.7
Molybdenum (mn lbs)	0.5	0.2	1.7	1.0
Payable silver (t)	1.9	2.1	10.8	11.9
TPM (koz t)	2.8	2.8	14.7	13.7
Sales
Copper (kt)	9.3	7.1	42.8	34.8
Molybdenum (mn lbs)	0.3	0.2	1.5	1.7
Silver (t)	2.5	2.1	10.7	11.6
TPM (koz t)	3.3	2.7	15.0	13.5

Production of Sierra Gorda S.C.M. (55%):

• Production of payable copper amounted to 7.7 thousand tonnes and was higher by 0.6 thousand tonnes (+8%) compared to June 2024. The increase in copper production in June 2025 was due to higher metal recovery and higher copper content in extracted ore, despite a lower volume of ore processed. The increase in copper production in the period January-June 2025 compared to the corresponding period of 2024 was due to higher copper content in extracted ore and higher recovery despite the lower volume of ore processed.
• Production of molybdenum amounted to 0.5 million pounds and was higher by 0.3 million pounds compared to June 2024. The increase in molybdenum production in June 2025 was due to higher metal recovery and higher molybdenum content in extracted ore despite the lower volume of ore processed. The increase in molybdenum production in the period January-June 2025 compared to the corresponding period of 2024 was due to higher molybdenum content in extracted ore and higher metal recovery despite the lower volume of ore processed.

Sales of Sierra Gorda S.C.M. (55%):

• Sales of copper amounted to 9.3 thousand tonnes and were higher by 2.2 thousand tonnes (+31%) compared to sales recorded in June 2024. The increase in copper sales was due to a higher volume of copper concentrate sold in June 2025 by around 14 thousand tonnes and the higher copper content in this concentrate.
• Sales of molybdenum amounted to 0.3 million pounds and were higher by 0.1 million pounds compared to sales recorded in June 2024. The level of molybdenum sales reflects the schedule of processing molybdenum concentrate and the return of molybdenum oxides designated for sale as well as the planned and achieved level of molybdenum production by Sierra Gorda S.C.M.
• Sales of silver amounted to 2.5 tonnes and were higher by 0.4 tonnes (+19%) compared to sales recorded in June 2024. This result was directly due to the higher volume of copper concentrate sold in June 2025.
• Sales of TPM amounted to 3.3 thousand troy ounces and were higher by 0.6 thousand troy ounces (+22%). This result was directly due to the higher volume of copper concentrate sold in June 2025.