KGHM Polska Miedz (KGH) investor relations material

Strategic position and market presence

• Ranked ninth globally in copper mining and second in silver production, with a diversified portfolio including molybdenum, lead, nickel, gold, palladium, platinum, rhenium, sulphuric acid, selenium, and copper/nickel sulphates.

• Maintains a global footprint with core mining and metallurgical assets in Poland and significant operations in the Americas, including the Sierra Gorda mine in Chile and the Robinson mine in the USA.

• Holds Copper Mark® certification for responsible production at key facilities, supporting access to premium markets.

Operational and financial performance

• Q1 2026 revenues rose 33% year-on-year to PLN 11.9 billion, with adjusted EBITDA up 2.2x and profit for the period up 10.7x.

• Payable copper production increased by 4% year-on-year to 176 kt, with higher output from Polish operations offsetting lower production in international assets.

• C1 cash cost for copper production dropped 35% year-on-year to USD 1.69/lb, driven by higher byproduct prices and favorable market conditions.

• Net debt remained stable at PLN 5.4 billion, with a net debt/EBITDA ratio of 0.8.

Investment, cost control, and growth initiatives

• 2026 CAPEX target set at PLN 4.1 billion, focusing on mining access, shaft construction, metallurgy modernization, and energy projects.

• Major investments include the Deposit Access Program, expansion of tailings storage, and new technologies for copper processing and recycling.

• Ongoing R&D with 26 projects in Q1 2026, including prototypes for mining and metallurgy automation.