KGHM Polska Miedź S.A.

Earnings Release • Sep 22, 2025

Lubin, 22 September 2025

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

Production and sales of the KGHM Group	August 2025	August 2024	I - VIII 2025	I - VIII 2024
Production
Payable copper (kt)	62.5	63.4	466.4	482.5
- including KGHM Polska Miedź S.A.*	50.3	50.3	372.2	392.6
Payable silver (t)	120.6	75.1	908.2	868.1
TPM (koz t)	13.3	9.8	110.6	110.5
Molybdenum (mn lbs)	1.0	0.4	3.5	1.7
Sales
Copper (kt)	55.0	59.4	467.9	478.9
Silver (t)	107.7	85.1	903.4	904.7
TPM (koz t)	18.5	18.9	112.3	115.6
Molybdenum (mn lbs)	0.5	0.2	2.5	2.1

* Production of electrolytic copper

Production of the KGHM Group:

• Production of payable copper amounted to 62.5 thousand tonnes and was lower by 0.9 thousand tonnes (-1%) than the amount recorded in August 2024. The decrease in production of payable copper was with respect to KGHM INTERNATIONAL LTD.
• Production of payable silver amounted to 120.6 tonnes and was higher by 45.5 tonnes (+61%) than the amount of production recorded in August 2024.
• Production of TPM amounted to 13.3 thousand troy ounces and was higher by 3.5 thousand troy ounces (+36%) compared to August 2024. The increase in TPM production was with respect to KGHM Polska Miedź S.A.
• Production of molybdenum amounted to 1.0 million pounds and was higher by 0.6 million pounds than the amount recorded in August 2024.

In the first 8 months of 2025 the production of copper was at a level similar to the budget target, while silver and TPM production was above the budget targets.

Sales of the KGHM Group:

• Sales of copper amounted to 55.0 thousand tonnes and were lower by 4.4 thousand tonnes (-7%) than sales in August 2024. Higher copper sales in August 2025 were recorded by Sierra Gorda S.C.M., with lower sales by KGHM INTERNATIONAL LTD., while sales by KGHM Polska Miedź S.A. remained at a similar level.
• Sales of silver amounted to 107.7 tonnes and were higher by 22.6 tonnes (+27%) than sales in August 2024. Higher silver sales were recorded by KGHM Polska Miedź S.A., with lower sales by KGHM INTERNATIONAL LTD. Sierra Gorda S.C.M. recorded a similar level of sales to that of August 2024.
• Sales of TPM amounted to 18.5 thousand troy ounces and were lower by 0.4 thousand troy ounces (-2%) than sales in August 2024. Higher gold sales were recorded by KGHM Polska Miedź S.A., with lower sales by KGHM INTERNATIONAL LTD., while TPM sales by Sierra Gorda S.C.M. remained at a similar level.
• Sales of molybdenum amounted to 0.5 million pounds and were higher by 0.3 million pounds compared to sales in August 2024.

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

Production and sales of KGHM Polska Miedź S.A.	August 2025	August 2024	I - VIII 2025	I - VIII 2024
Mine production
Copper in concentrate (kt)	33.3	32.8	268.7	273.2
Silver in concentrate (t)	107.9	107.8	880.7	901.6
Metallurgical production
Electrolytic copper (kt)	50.3	50.3	372.2	392.6
- including from own concentrate	34.7	30.6	248.3	256.4
Metallic silver (t)	118.6	73.1	893.6	851.6
TPM (koz t)	7.6	2.6	59.4	56.2
Sales
Copper (kt)	42.8	44.0	377.6	393.7
Silver (t)	105.3	82.7	886.1	886.8
TPM (koz t)	11.9	9.5	62.1	64.4

Production of KGHM Polska Miedź S.A.:

• Production of copper in concentrate amounted to 33.3 thousand tonnes and was higher by 0.5 thousand tonnes (+2%) compared to August 2024. The increase in production of copper in concentrate was due to the better quality of the ore extracted from the mines.
• Production of silver in concentrate amounted to 107.9 tonnes and was at a similar level to that of August 2024.
• Production of electrolytic copper amounted to 50.3 thousand tonnes and was at the same level as in August 2024.
• Production of metallic silver amounted to 118.6 tonnes and was higher by 45.5 tonnes (+62%) compared to August 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 and to maintenance work.

Sales of KGHM Polska Miedź S.A.:

• Sales of copper amounted to 42.8 thousand tonnes and were lower by 1.2 thousand tonnes (-3%) versus the corresponding period of 2024.
• Sales of silver amounted to 105.3 tonnes and were higher by 22.6 tonnes (+27%) compared to sales in August 2024. The difference was due to higher silver production in August 2025 compared to the corresponding period of 2024.
• Sales of TPM amounted to 11.9 thousand troy ounces and were higher by 2.4 thousand troy ounces (+25%) compared to sales in August 2024. The difference was due to higher gold production compared to the results of August 2024 as well as to conformance to the schedule of sales to customers.

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

Production and sales of KGHM INTERNATIONAL LTD.	August 2025	August 2024	I - VIII 2025	I - VIII 2024
Production
Payable copper (kt)	4.4	5.4	37.6	40.5
TPM (koz t)	2.9	4.4	31.6	35.2
Sales
Copper (kt)	4.1	8.2	36.0	37.3
TPM (koz t)	3.7	6.4	31.2	32.3
Silver (t)	0.3	0.4	3.6	2.6

Production of KGHM INTERNATIONAL LTD.:

• Production of payable copper amounted to 4.4 thousand tonnes and was lower by 1.0 thousand tonnes (-19%) compared to August 2024, mainly due to lower production by the Robinson mine (-1.1 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 August y/y: – 0.1 thousand tonnes). Production by the Carlota mine was slightly higher than in August 2024 (+0.1 thousand tonnes).
• Production of TPM amounted to 2.9 thousand troy ounces and was lower by 1.5 thousand troy ounces (-34%) compared to August 2024 due to lower gold production by the Robinson mine (-1.0 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 4.1 thousand tonnes and were lower by 4.1 thousand tonnes (-50%) compared to sales in August 2024. The main factor was the lower sale of copper concentrate by the Robinson mine by around 16 thousand tonnes (in accordance with the schedule of sales to customers) due to lower production of copper concentrate in July/August 2025 as well as to lower copper concentrate inventory at the end of July 2025 compared to the corresponding period of 2024. Higher cathode sales were recorded by the Carlota mine.
• Sales of TPM amounted to 3.7 thousand troy ounces and were lower by 2.7 thousand troy ounces (-42%) compared to sales in August 2024. This result was related to the lower volume of copper concentrate sold by the Robinson mine in August 2025.
• Sales of silver amounted to 0.3 tonnes and were lower by 0.1 tonnes (-25%) than sales recorded in August 2024. The lower silver sales – similarly as in the case of TPM – was due to the lower volume of copper concentrate sold by the Robinson mine in August 2025.

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

Production and sales of Sierra Gorda S.C.M. (on a 55% basis)	August 2025	August 2024	I - VIII 2025	I - VIII 2024
Production
Payable copper (kt)	7.8	7.7	56.6	49.4
Molybdenum (mn lbs)	1.0	0.4	3.4	1.6
Payable silver (t)	2.0	2.0	14.5	15.6
TPM (koz t)	2.8	2.8	19.6	19.2
Sales
Copper (kt)	8.0	7.2	54.3	47.9
Molybdenum (mn lbs)	0.5	0.2	2.4	1.9
Silver (t)	2.1	2.0	13.8	15.3
TPM (koz t)	2.9	2.9	19.0	18.9

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

• Production of payable copper amounted to 7.8 thousand tonnes and was higher by 0.1 thousand tonnes (+1%) compared to August 2024. The increase in copper production in August 2025 was due to higher metal recovery despite a lower volume of ore processed and lower copper content in extracted ore. The increase in copper production in the period January-August 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 1.0 million pounds and was higher by 0.6 million pounds compared to August 2024. The increase in molybdenum production in August 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-August 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 8.0 thousand tonnes and were higher by 0.8 thousand tonnes (+11%) compared to the corresponding period of 2024. The increase in sales of copper was due to a higher volume of copper concentrate sold (by around 2 thousand tonnes) – in accordance with the schedule of deliveries.
• Sales of molybdenum amounted to 0.5 million pounds and were higher by 0.3 million pounds than sales in August 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 2.1 tonnes and were higher by 0.1 thousand tonnes (+5%) than sales in August 2024.
• Sales of TPM amounted to 2.9 thousand troy ounces and remained at a similar level to sales recorded in August 2024.