Translation from the original Polish version. In the event of differences resulting from the translation,

reference should be made to the official Polish version.

Report on the evaluation of the separate financial statements of KGHM Polska Miedź S.A.

for the financial year ended 31 December 2024, the consolidated financial statements of

the KGHM Polska Miedź S.A. Group for the financial year ended 31 December 2024 and the

Management Board's Report on the activities of KGHM Polska Miedź S.A. and of the KGHM

Polska Miedź S.A. Group in 2024, in terms of their compliance with the accounts,

documents and factual state

In accordance with art. 382 § 3 of the Commercial Partnerships and Companies Code, § 70 sec. 1

point 14 and § 71 sec. 1 point 12 of the Decree of the Minister of Finance dated 29 March 2018 on

current and periodic information published by issuers of securities and conditions for

recognising as equivalent information required by the laws of a non-member state and § 20 sec.

2 points 1) and 3) of the Statutes of KGHM Polska Miedź S.A., based on:

1) the contents of documents presented by the Management Board of KGHM Polska Miedź

S.A., in particular:

a) The separate financial statements of KGHM Polska Miedź S.A. for the financial year

ended 31 December 2024,

b) The consolidated financial statements of the KGHM Polska Miedź S.A. Group for the

financial year ended 31 December 2024,

c) The Management Board’s report on the activities of KGHM Polska Miedź S.A. and of

the KGHM Polska Miedź S.A. Group in 2024,

2) the draft auditor’s report on the audit of the separate financial statements of KGHM

Polska Miedź S.A. for the financial year ended 31 December 2024,

3) the draft auditor’s report on the audit of the consolidated financial statements of the

KGHM Polska Miedź S.A. Group for the financial year ended 31 December 2024,

4) the additional report of the auditor for the Audit Committee of the Supervisory Board of

KGHM Polska Miedź S.A.

and based on:

1) meetings of the Supervisory Board of KGHM Polska Miedź S.A. with the Vice President of

the Management Board (Finance) of KGHM Polska Miedź S.A., and

2) recommendations of the Audit Committee of the Supervisory Board of KGHM Polska

Miedź S.A. regarding providing an opinion on the audited financial statements.

On 25 March 2025, the Supervisory Board of KGHM Polska Miedź S.A. positively evaluated

the following:

1) The separate financial statements of KGHM Polska Miedź S.A. for the financial year ended

31 December 2024,

2) The consolidated financial statements of the KGHM Polska Miedź S.A. Group for the

financial year ended 31 December 2024,

3) The Management Board’s report on the activities of KGHM Polska Miedź S.A. and of the

KGHM Polska Miedź S.A. Group in 2024.

Translation from the original Polish version. In the event of differences resulting from the translation,

reference should be made to the official Polish version.

The results of the evaluation with the justification are presented below.

1. Evaluation of the separate financial statements of KGHM Polska Miedź S.A. for the financial

year ended 31 December 2024

The Supervisory Board reviewed and analysed the separate financial statements of KGHM Polska

Miedź S.A. for the financial year ended 31 December 2024, comprising:

✓ The separate statement of profit or loss showing a profit for the

period of

PLN 2 788 million

✓ The separate statement of comprehensive income with a total

positive comprehensive income of

PLN 2 636 million

✓ The separate statement of cash flows showing a decrease in net

cash flow of

PLN 1 117 million

✓ The separate statement of financial position showing total assets

and total equity and liabilities of

PLN 50 405 million

✓ The separate statement of changes in equity showing an increase

in equity of

PLN 2 336 million

✓ Explanatory notes to the separate financial statements,

and reviewed the results of the audit carried out by the auditor of KGHM Polska Miedź S.A.

(PricewaterhouseCoopers Polska Spółka z ograniczoną odpowiedzialnością Audyt Sp.k.).

In accordance with the draft auditor’s report issued by the certified auditor, the separate financial

statements were prepared in compliance with International Financial Reporting Standards

approved by the European Union and:

✓ accurately and clearly reflect the financial position and assets of the Company as at

31 December 2024 as well as its financial result and cash flow,

✓ is compliant in form and content with the existing laws under which the Company

operates as well as with the Company’s Statutes, and

✓ were prepared on the basis of properly-maintained accounts in compliance with

chapter 2 of the act on accounting.

The Supervisory Board hereby declares that the separate financial statements of KGHM Polska

Miedź S.A. for the financial year ended 31 December 2024 were prepared in all material aspects

in accordance with International Financial Reporting Standards and is compliant with the

accounts and documents, as well as the factual state.

2. Evaluation of the consolidated financial statements of the KGHM Polska Miedź S.A. Group for

the financial year ended 31 December 2024.

Translation from the original Polish version. In the event of differences resulting from the translation,

reference should be made to the official Polish version.

The Supervisory Board reviewed and analysed the consolidated financial statements of the

KGHM Polska Miedź S.A. Group for the financial year ended 31 December 2024, comprising:

✓ The consolidated statement of profit or loss showing a profit for

the period of

PLN 2 870 million

✓ The consolidated statement of comprehensive income with a total

positive comprehensive income of

PLN 2 726 million

✓ The consolidated statement of cash flows showing a decrease in

net cash flow of

PLN 1 033 million

✓ The consolidated statement of financial position showing total

assets and total equity and liabilities of

PLN 53 892 million

✓ The consolidated statement of changes in equity showing

an increase in equity of

PLN 2 428 million

✓ Explanatory notes to the consolidated financial statements,

and reviewed the results of the audit carried out by the auditor of KGHM Polska Miedź S.A.

(PricewaterhouseCoopers Polska Spółka z ograniczoną odpowiedzialnością Audyt Sp.k.).

In accordance with the draft auditor’s report issued by the certified auditor, the consolidated

financial statements were prepared in compliance with International Financial Reporting

Standards approved by the European Union and:

✓ accurately and clearly reflect the financial position and assets of the Group as at

31 December 2024 as well as its financial result and cash flow,

✓ is compliant in form and content with the existing laws under which the Group operates

as well as with the Company’s Statutes, and

✓ were prepared on the basis of properly-maintained accounts in compliance with chapter

2 of the act on accounting.

The Supervisory Board hereby declares that the consolidated financial statements of the KGHM

Polska Miedź S.A. Group for the financial year ended 31 December 2024 were prepared in all

material aspects in accordance with International Financial Reporting Standards and is compliant

with the accounts and documents, as well as the factual state.

3. Evaluation of the Management Board’s report on the activities of KGHM Polska Miedź S.A.

and of the KGHM Polska Miedź S.A. Group in 2024.

The Supervisory Board evaluated the Management Board’s report on the activities of KGHM

Polska Miedź S.A. and of the KGHM Polska Miedź S.A. Group in 2024 and declares that the report:

Translation from the original Polish version. In the event of differences resulting from the translation,

reference should be made to the official Polish version.

✓ was prepared in accordance with the Act on accounting and with §70 and §71 of the

Decree of the Minister of Finance on current and periodic information published by

issuers of securities and conditions for recognising as equivalent information required by

the laws of a non-member state

✓ is consistent with the information contained in the separate financial statements of

KGHM Polska Miedź S.A. for the financial year ended 31 December 2024 and in

the consolidated financial statements of the KGHM Polska Miedź S.A. Group for the

financial year ended 31 December 2024.

The Management Board’s report on the activities of KGHM Polska Miedź S.A. and of the KGHM

Polska Miedź S.A. Group in 2024 was prepared in accordance with applicable regulations.

The completeness of the Management Board’s report on the activities of KGHM Polska Miedź S.A.

and of the KGHM Polska Miedź S.A. Group in 2024 and the compliance of the disclosed

information with the financial statements, was confirmed by the certified auditor.

Furthermore, a separate section on sustainable development (ESG) reporting was included in the

report, pursuant to the requirements of Directive (EU) 2022/2464 of the European Parliament,

which was subject to attestation by a certified auditor. The Supervisory Board reviewed the

results of the audit presented by the auditor of KGHM Polska Miedź S.A.

(PricewaterhouseCoopers Polska Spółka z ograniczoną odpowiedzialnością Audyt Sp.k.).

Consequently, the Supervisory Board positively evaluates the Management Board’s report on the

activities of KGHM Polska Miedź S.A. and of the KGHM Polska Miedź S.A Group in 2024.

The Supervisory Board of KGHM Polska Miedź S.A.

appropriate signatures on the original

Lubin, 25 March 2025