The Management Board of KGHM Polska Miedź S.A (“Company”), in reference to regulatory filing no. 9/2020 dated 12 May 2020, hereby announces that on 15 May 2020, the Supervisory Board of KGHM Polska Miedź S.A. approved a revision of a target of the Budget of KGHM Polska Miedź S.A. and the KGHM Polska Miedź S.A. Group for 2020 (“KGHM’s Budget”) with respect to other capital expenditures, by increasing the base amount of PLN 133 million by the equivalent of USD 55 million (PLN 232 million per the exchange rate of the NBP from 15 May 2020).
The assumed increase in capital expenditures is directly related to the plan to provide owner’s financing to Sierra Gorda in the amount of USD 55 million.
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 (Official Journal of the European Union dated 12 June 2014, no. L 173/1)