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KGHM Polska Miedź S.A.

Earnings Release • Mar 11, 2021

5670_rns_2021-03-11_76d7e343-2e3d-4832-ad44-17c1cff09ddc.html

Earnings Release

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Information on the results of the conducted tests for impairment

The Management Board of KGHM Polska Miedź S.A., in reference toregulatory filing no. 4/2021 dated 17 February 2021, announces that themajor work related to testing for the impairment of the Franke minebelonging to the KGHM Polska Miedź S.A. Group and the major work relatedto the verification of the recoverable amount of:

1)the assets of KGHM Polska Miedź S.A. in the form of shares insubsidiaries and Investment Certificates of Funds managed by KGHM TFIS.A. (to be recognised in the separate financial statements of KGHMPolska Miedź S.A.),

2)the assets of units described in point 1), including shares inportfolio companies of the Funds and their assets (to be recognised inthe consolidated financial statements of the KGHM Polska Miedź S.A.Group),

in respect of which indications of possible impairment were identified.

Information on the results of the conducted tests for impairment is inthe appendix to this report.