The Management Board of KGHM Polska Miedź S.A. (“the Company”), in reference to regulatory filing no. 7/2026 dated 28 January 2026, announces that as a result of the identification of indications of a possible change in the recoverable amount of key Polish and international assets, the Company conducted impairment testing of:
Future 1 Sp. z o.o.,
investment in Sierra Gorda S.C.M.
Centrozłom Wrocław S.A.,
Uzdrowiska Kłodzkie S.A. – Grupa PGU,
PMT Linie Kolejowe Sp. z o.o.,
With respect to the separate financial statements of KGHM Polska Miedź S.A. for the financial year ended on 31 December 2025, the performed measurement indicated the validity of:
the reversal of all of the impairment losses on shares recognised in prior years in the holding company Future 1 Sp. z o.o., which directly holds 100% of the shares in KGHM International Ltd. in the amount of PLN 599 million,
the recognition of an impairment loss on shares in PMT Linie Kolejowe Sp. z o.o. in the amount of PLN 121 million.
With respect to the consolidated financial statements of KGHM Polska Miedź S.A. for the financial year ended on 31 December 2025, the performed measurement indicated the validity of:
the recognition of an impairment loss on assets of a Polish subsidiary – Uzdrowiska Kłodzkie S.A. – Grupa PGU in the amount of PLN 24 million,
the recognition of an impairment loss on assets of a Polish subsidiary – PMT Linie Kolejowe Sp. z o.o. in the amount of PLN 190 million,
no impairment loss on assets of a Polish subsidiary - Centrozłom Wrocław S.A.,
the initial determination of the value of the investment in Sierra Gorda S.C.M. in the amount of USD 504 million (PLN 1 814 million converted per the National Bank of Poland’s exchange rate as at 31 December 2025).
The amounts presented above are estimates and may change. The final results of the testing and performed measurements will be presented in the separate and consolidated financial statements for the financial year ended on 31 December 2025, the publication of which is planned for 25 March 2026.
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.