KGHM Polska Miedź S.A.

Earnings Release • Oct 22, 2025

Preliminary production and sales data of the KGHM Polska Miedź S.A. Group for September 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 September 2025 - y/y:

Production and sales of the KGHM Group	September 2025	September 2024	I - IX 2025	I - IX 2024
Production
Payable copper (kt)	60.1	61.4	526.4	543.8
- including KGHM Polska Miedź S.A.*	48.7	48.6	421.0	441.2
Payable silver (t)	84.8	113.0	993.0	981.1
TPM (koz t)	8.5	16.2	119.1	126.8
Molybdenum (mn lb)	0.6	0.4	4.1	2.1
Sales
Copper (kt)	60.3	65.6	528.2	544.6
Silver (t)	104.9	115.5	1 008.3	1 020.2
TPM (koz t)	10.4	13.3	122.7	128.9
Molybdenum (mn lb)	0.8	0.3	3.3	2.4

^* Production of electrolytic copper

Production of the KGHM Group:

• Production of payable copper amounted to 60.1 thousand tonnes and was lower by 1.3 thousand tonnes (-2%) than the amount recorded in September 2024. The decrease in production of payable copper was with respect to KGHM INTERNATIONAL LTD.
• Production of payable silver amounted to 84.8 tonnes and was lower by 28.2 tonnes (-25%) than the amount recorded in September 2024. The decrease in production of payable silver was due to planned maintenance in KGHM Polska Miedź S.A.
• Production of TPM amounted to 8.5 thousand troy ounces and was lower by 7.7 thousand troy ounces (-48%) compared to September 2024. A decrease was recorded in all of the Group's segments.
• Production of molybdenum amounted to 0.6 million pounds and was higher by 0.2 million pounds than the amount recorded in September 2024.

In the period January-September 2025 the copper production plan was in line with the budget target, while silver and TPM production was above the budget targets.

Sales of the KGHM Group:

• Sales of copper amounted to 60.3 thousand tonnes and were lower by 5.3 thousand tonnes (-8%) compared to sales in September 2024. Higher copper sales were recorded by Sierra Gorda S.C.M., with lower sales by KGHM Polska Miedź S.A. and KGHM INTERNATIONAL LTD.
• Sales of silver amounted to 104.9 tonnes and were lower by 10.6 tonnes (-9%) than sales in September 2024. Higher silver sales were recorded by Sierra Gorda S.C.M. and KGHM INTERNATIONAL LTD., with lower sales by KGHM Polska Miedź S.A.
• Sales of TPM amounted to 10.4 thousand troy ounces and were lower by 2.9 thousand troy ounces (-22%) compared to sales in September 2024. Lower TPM sales were recorded by all of the Group's segments.
• Sales of molybdenum amounted to 0.8 million pounds and were higher by 0.5 million pounds compared to sales in September 2024.

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

Production and sales of KGHM Polska Miedź S.A.	September 2025	September 2024	I - IX 2025	I - IX 2024
Mine production
Copper in concentrate (kt)	36.1	30.9	304.7	304.1
Silver in concentrate (t)	115.4	100.9	996.1	1 002.5
Metallurgical production
Electrolytic copper (kt)	48.7	48.6	421.0	441.2
- including from own concentrate	31.8	27.8	280.1	284.2
Metallic silver (t)	82.5	110.9	976.1	962.6
TPM (koz t)	2.9	8.1	62.4	64.3
Sales
Copper (kt)	47.5	52.9	425.1	446.6
Silver (t)	102.1	113.2	988.2	1 000.0
TPM (koz t)	4.6	6.2	66.7	70.7

Production of KGHM Polska Miedź S.A.:

• Production of copper in concentrate amounted to 36.1 thousand tonnes and was higher by 5.2 thousand tonnes (+17%) compared to September 2024. The increase in production of copper in concentrate was due to higher extraction and to the better quality of the ore extracted from the mines.
• Production of silver in concentrate amounted to 115.4 tonnes and was higher by 14.5 tonnes (+14%) compared to September 2024. The increase in production was due to higher silver content and to higher extraction of ore from the mines.
• Production of electrolytic copper amounted to 48.7 thousand tonnes and was at a similar level to that of September 2024.
• Production of metallic silver amounted to 82.5 tonnes and was lower by 28.4 tonnes (-26%) compared to September 2024. The decrease in metallic silver production was due to the execution of planned maintenance at the Precious Metals Plant.

Sales of KGHM Polska Miedź S.A.:

• Sales of copper amounted to 47.5 thousand tonnes and were lower by 5.4 thousand tonnes (-10%) compared to sales in September 2024. In September 2025 the volume of sales of electrolytic copper on the spot market was substantially lower (approx. 0.8 thousand tonnes) compared to September 2024 (approx. 9.2 thousand tonnes). The lower copper sales in September and accrued sales in 2025 are due to the lower production of electrolytic copper in the period January-September 2025 (approx. 421 thousand tonnes) compared to the corresponding period of 2024 (approx. 441 thousand tonnes).
• Sales of silver amounted to 102.1 tonnes and were lower by 11.1 tonnes (-10%) than sales in September 2024. The difference was due to lower production of silver in September 2025 compared to September 2024.
• Sales of TPM amounted to 4.6 thousand troy ounces and were lower by 1.6 thousand troy ounces (-26%) compared to sales in September 2024. The difference was due to lower production of gold compared to September 2024 as well as to conformance to the schedule of sales to customers.

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

Production and sales of KGHM INTERNATIONAL LTD.	September 2025	September 2024	I - IX 2025	I - IX 2024
Production
Payable copper (kt)	3.1	5.0	40.6	45.5
TPM (koz t)	2.7	4.2	34.3	39.4
Sales
Copper (kt)	3.3	4.0	39.3	41.3
TPM (koz t)	2.5	2.9	33.7	35.2
Silver (t)	0.1	0.0	3.7	2.6

Production of KGHM INTERNATIONAL LTD.:

• Production of payable copper amounted to 3.1 thousand tonnes and was lower by 1.9 thousand tonnes (-38%) compared to September 2024, mainly due to lower production by the Robinson mine (-2.1 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 September y/y: – 0.1 thousand tonnes). Production by the Carlota mine was higher than in September 2024 (+0.2 thousand tonnes).
• Production of TPM amounted to 2.7 thousand troy ounces and was lower by 1.5 thousand troy ounces (-36%) compared to September 2024 due to lower production of gold by the Robinson mine (-1.1 thousand troy ounces: higher recovery did not offset lower gold content in feed and a lower processing volume), as well as the exclusion of TPM production by the Sudbury Basin due to the disposal of a portion of the assets (-0.4 thousand troy ounces).

Sales of KGHM INTERNATIONAL LTD.:

• Sales of copper amounted to 3.3 thousand tonnes and were lower by 0.7 thousand tonnes (-18%) compared to sales in September 2024. The main reason contributing to the decrease in sales was the lower volume of sales of copper concentrate by the Robinson mine by around 3 thousand tonnes, in accordance with the schedule of sales to customers and with the production plan. Higher sales were recorded by the Carlota mine.
• Sales of TPM amounted to 2.5 thousand troy ounces and were lower by 0.4 thousand troy ounces (-14%) compared to sales in September 2024. This result was mainly due to the volume of sales of copper concentrate by the Robinson mine.
• Sales of silver amounted to 0.1 tonnes and were higher than sales in September 2024. This was mainly due to the higher content of this mineral in copper concentrate from the Robinson mine, sold in September 2025.

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

Production and sales of Sierra Gorda S.C.M. (on a 55% basis)	September 2025	September 2024	I - IX 2025	I - IX 2024
Production
Payable copper (kt)	8.3	7.7	64.9	57.1
Molybdenum (mn lbs)	0.6	0.4	4.0	2.0
Payable silver (t)	2.3	2.0	16.8	17.6
TPM (koz t)	2.9	4.0	22.4	23.1
Sales
Copper (kt)	9.6	8.8	63.8	56,7
Molybdenum (mn lbs)	0.8	0.3	3.2	2.2
Silver (t)	2.7	2.3	16.5	17.6
TPM (koz t)	3.2	4.1	22.2	23.0

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

• Production of payable copper amounted to 8.3 thousand tonnes and was higher by 0.6 thousand tonnes (+8%) compared to September 2024. The increase in copper production in September 2025 was due to higher metal recovery, higher copper content in extracted ore and a higher volume of ore processed. The increase in copper production in the period January-September 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 0.6 million pounds and was higher by 0.2 million pounds compared to September 2024. The increase in molybdenum production in September 2025 was due to higher metal recovery and a higher volume of ore processed despite lower molybdenum content in extracted ore. The increase in molybdenum production in the period January-September 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 9.6 thousand tonnes and were higher by 0.8 thousand tonnes (+9%) compared to sales in September 2024. The reason for the higher sales in September 2025 was the higher volume of copper concentrate sold by around 2 thousand tonnes, resulting from the agreed schedule of deliveries as well as to higher copper content in concentrate.
• Sales of molybdenum amounted to 0.8 million pounds and were higher by 0.5 million pounds than sales in September 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 2.7 tonnes and were higher by 0.4 tonnes (+17%) compared to sales in September 2024. The main reason for this result was the higher volume of copper concentrate sold by Sierra Gorda S.C.M., as well as the higher silver content in this concentrate.
• Sales of TPM amounted to 3.2 thousand troy ounces and were lower by 0.9 thousand troy ounces (-22%) compared to sales in September 2024. TPM content in the concentrate sold in September 2025 was lower than in the deliveries in September 2024.