KGHM Polska Miedź S.A.

Earnings Release • Aug 25, 2025

Lubin, 25 August 2025

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

The following report contains preliminary monthly data – the final quarterly production and sales results will be published in the consolidated report for the third quarter 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 July 2025 - y/y:

Production and sales of the KGHM Group	July 2025	July 2024	I - VII 2025	I - VII 2024
Production
Payable copper (kt)	59.9	61.4	403.9	419.0
- including KGHM Polska Miedź S.A.*	49.5	49.8	322.2	342.3
Payable silver (t)	130.4	114.5	787.6	792.9
TPM (koz t)	13.5	16.6	97.3	100.7
Molybdenum (mn lbs)	0.7	0.2	2.4	1.3
Sales
Copper (kt)	56.7	59.6	413.0	419.5
Silver (t)	98.7	127.1	795.8	819.6
TPM (koz t)	7.2	10.2	93.7	96.8
Molybdenum (mn lbs)	0.4	0.1	2.0	1.9

* Production of electrolytic copper

Production of the KGHM Group:

• Production of payable copper amounted to 59.9 thousand tonnes and was lower by 1.5 thousand tonnes (-2%) than the amount recorded in July 2024. The decrease in production of payable copper was mainly with respect to KGHM INTERNATIONAL LTD.
• Production of payable silver amounted to 130.4 tonnes and was higher by 15.9 tonnes (+14%) than the amount recorded in July 2024.
• Production of TPM amounted to 13.5 thousand troy ounces and was lower by 3.1 thousand troy ounces (-19%) compared to July 2024. The decrease in TPM production was mainly with respect to KGHM INTERNATIONAL LTD.
• Production of molybdenum amounted to 0.7 million pounds and was higher by 0.5 million pounds than the amount recorded in July 2024.

In the first 7 months of 2025 the production of copper, silver and TPM was above the budget targets.

Sales of the KGHM Group:

• Sales of copper amounted to 56.7 thousand tonnes and were lower by 2.9 thousand tonnes (-5%) than sales in July 2024. Lower copper sales were recorded by KGHM INTERNATIONAL LTD. and Sierra Gorda S.C.M., with higher sales of copper by KGHM Polska Miedź S.A.
• Sales of silver amounted to 98.7 tonnes and were lower by 28.4 tonnes (-22%) than sales in July 2024. Lower silver sales were recorded by all of the production assets of the KGHM Group.
• Sales of TPM amounted to 7.2 thousand troy ounces and were lower by 3.0 thousand troy ounces (-29%) than sales in July 2024. Lower TPM sales were recorded by KGHM INTERNATIONAL LTD. and Sierra Gorda S.C.M., with higher sales by KGHM Polska Miedź S.A.
• Sales of molybdenum amounted to 0.4 million pounds and were higher by 0.3 million pounds than sales in July 2024.

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

Production and sales of KGHM Polska Miedź S.A.	July 2025	July 2024	I - VII 2025	I - VII 2024
Mine production
Copper in concentrate (kt)	34.4	34.8	235.4	240.4
Silver in concentrate (t)	113.1	114.1	772.8	793.8
Metallurgical production
Electrolytic copper (kt)	49.5	49.8	321.9	342.3
- including from own concentrate	31.1	32.6	213.7	225.9
Metallic silver (t)	128.7	112.7	775.0	778.5
TPM (koz t)	8.1	8.8	51.8	53.6
Sales
Copper (kt)	49.0	47.1	334.8	349.7
Silver (t)	97.1	125.0	780.8	804.0
TPM (koz t)	2.4	2.3	50.2	54.9

Production of KGHM Polska Miedź S.A.:

• Production of copper in concentrate amounted to 34.4 thousand tonnes and was lower by 0.4 thousand tonnes (-1%) compared to July 2024. The decrease in production of copper in concentrate was due to the lower quality of the ore extracted from the mines.
• Production of silver in concentrate amounted to 113.1 tonnes and was lower by 1.0 tonnes (-1%) compared to July 2024, due to the lower content of silver in ore.
• Production of electrolytic copper amounted to 49.5 thousand tonnes and was lower by 0.3 thousand tonnes (-1%) compared to July 2024.
• Production of metallic silver amounted to 128.7 tonnes and was higher by 16.0 tonnes (+14%) compared to July 2024. The increase in metallic silver production was due to the higher 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 49.0 thousand tonnes and were higher by 1.9 thousand tonnes (+4%) compared to sales in July 2024.
• Sales of silver amounted to 97.1 tonnes and were lower by 27.9 tonnes (-22%) compared to sales in July 2024. The difference was due to conformance to the schedule of sales to customers.
• Sales of TPM amounted to 2.4 thousand troy ounces and were higher by 0.1 thousand troy ounces (+4%) compared to sales in July 2024.

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

Production and sales of KGHM INTERNATIONAL LTD.	July 2025	July 2024	I - VII 2025	I - VII 2024
Production
Payable copper (kt)	4.0	5.6	33.2	35.0
TPM (koz t)	3.4	5.2	28.7	30.8
Sales
Copper (kt)	4.3	6.6	31.9	29.1
TPM (koz t)	3.7	5.5	27.4	25.9
Silver (t)	0.6	0.4	3.3	2.2

Production of KGHM INTERNATIONAL LTD.:

• Production of payable copper amounted to 4.0 thousand tonnes and was lower by 1.6 thousand tonnes (-29%) compared to July 2024, mainly due to lower production by the Robinson mine (-1.6 thousand tonnes – lower copper content in feed, lower recovery and processing volume). The amount of payable copper production does not include the production recorded by the Sudbury Basin mines due to the sale of a portion of the assets of the Sudbury Basin to Magna Mining Inc. in February 2025 (impact on July y/y: – 0.1 thousand tonnes). Production by the Carlota mine was slightly higher than in July 2024 (+0.01 thousand tonnes).
• Production of TPM amounted to 3.4 thousand troy ounces and was lower by 1.8 thousand troy ounces (-35%) compared to July 2024 due to lower production of gold by the Robinson mine (-1.0 thousand troy ounces: lower gold content in feed, lower recovery parameters and processing volume) and TPM production by the Sudbury Basin was not recorded due to the closing of the sale transaction of a portion of the assets (-0.8 thousand troy ounces).

Sales of KGHM INTERNATIONAL LTD.:

• Sales of copper amounted to 4.3 thousand tonnes and were lower by 2.3 thousand tonnes (-35%) compared to sales in July 2024. This was due to the lower sale of copper concentrate by the Robinson mine in July 2025 by around 13 thousand tonnes. At the same time higher cathode sales were recorded by the Carlota mine.
• Sales of TPM amounted to 3.7 thousand troy ounces and were lower by 1.8 thousand troy ounces (-33%) compared to sales in July 2024. The main factor in the decrease in TPM sales was the lower volume of copper concentrate sold and the not recording sales of gold, platinum and palladium by the Sudbury Basin due to the disposal of assets described above.
• Sales of silver amounted to 0.6 tonnes and were higher by 0.2 tonnes compared to July 2024. Silver content in deliveries in July 2025 was higher than in deliveries in July 2024, which accounted for the higher silver sales.

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

Production and sales of Sierra Gorda S.C.M. (on a 55% basis)	July 2025	July 2024	I - VII 2025	I - VII 2024
Production
Payable copper (kt)	6.4	6.0	48.8	41.7
Molybdenum (mn lbs)	0.7	0.2	2.4	1.2
Payable silver (t)	1.7	1.7	12.5	13.6
TPM (koz t)	2.0	2.6	16.7	16.3
Sales
Copper (kt)	3.4	5.8	46.2	40.6
Molybdenum (mn lbs)	0.4	0.1	1.9	1.8
Silver (t)	0.9	1.7	11.7	13.3
TPM (koz t)	1.1	2.4	16.1	16.0

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

• Production of payable copper amounted to 6.4 thousand tonnes and was higher by 0.4 thousand tonnes (+7%) compared to July 2024. The increase in copper production in July 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-July 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 0.7 million pounds and was higher by 0.5 million pounds compared to July 2024. The increase in molybdenum production in July 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-July 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 3.4 thousand tonnes and were lower by 2.4 thousand tonnes (-41%) compared to sales recorded in July 2024. This was due to lower sales of copper concentrate in July 2025 by around 19 thousand tonnes, due to difficult weather conditions and the temporary closure of the port in Antofagasta as well as delays at the Port of Angamos [long ship queues].
• Sales of molybdenum amounted to 0.4 million pounds and were higher by 0.3 million pounds compared to sales recorded in July 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 0.9 tonnes and were lower by 0.8 tonnes (-47%) compared to sales recorded in July 2024. This result was directly due to the lower volume of copper concentrate sold in July 2025.
• Sales of TPM amounted to 1.1 thousand troy ounces and were lower by 1.3 thousand troy ounces (-54%) compared to sales recorded in July 2024. This result was directly due to the lower volume of copper concentrate sold in July 2025.