KGHM Polska Miedź S.A.

Report Publication Announcement • Dec 17, 2025

Main assumptions of the Budget for 2026

Production of KGHM Polska Miedź S.A.
Copper in concentrate (kt)	395.9
Silver in concentrate (t)	1 296
Electrolytic copper (kt)	589.4
-including from own concentrate	384.9

Sales of KGHM Polska Miedź S.A.
Payable copper (kt)	594.7
Payable silver (t)	1 293

Production of KGHM International
Payable copper (kt)	51.0
TPM (koz t)	32.1

Production of Sierra Gorda (on a 55% basis)
Payable copper (kt)	90.8
Molybdenum (mn lb)	2.1

The expected total unit cost of copper production from own concentrate(1) in KGHM Polska Miedź S.A. amounts to 32 811 PLN/t.

KGHM Polska Miedź S.A.'s capital expenditures on property, plant and equipment(2) planned for 2026 amount to PLN 4 100 million, while other capital expenditures(3) amount to PLN 205 million.

• (1) The sum of costs of mining, flotation, smelter processing per electrolytic copper, together with support functions and cathode selling costs, adjusted by the value of inventories of halffinished products and work in progress, less anode slimes and divided by the volume of electrolytic copper production from own concentrate
• (2) Excluding cost of borrowing, lease pursuant to IFRS 16 not related to the investment project as well as expenditures on R&D and purchase of CO² emission allowances.
• (3) Acquisition of shares and loans.

Legal basis: Art. 17 (1) of MAR (Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC