KGHM Polska Miedz (KGH) AGM 2025 summary

Opening remarks and agenda

• Andrzej Leganowicz was elected AGM Chair; the agenda was accepted unanimously, with 122,708,071 valid votes representing 61.354% of share capital.

• The agenda covered FY2024 financial statements, profit allocation, board reports and discharge votes, remuneration matters, and Statutes amendments.

Financial performance review

• In 2024, copper prices rose 8% and silver prices 21%; revenues increased 3% and adjusted EBITDA 25% year-on-year, while group revenues rose 6% and group adjusted EBITDA 58%.

• PLN 4.9bn was invested: 38% in reconstruction, 36% in maintenance and 25% in development; increasing development spending was highlighted as a priority.

• FY2024 separate statements reported profit of PLN 2,787,596,997.52, comprehensive income of PLN 2,636m, cash and equivalents of PLN 367m after a PLN 1,117m decrease, and total assets of PLN 50,405m.

• FY2024 consolidated statements reported profit of PLN 2,870m, comprehensive income of PLN 2,726m, cash and equivalents of PLN 715m after a PLN 1,033m decrease, and total assets of PLN 53,892m.

Board and executive committee updates

• FY2024 duties were approved for Zbigniew Bryja, Piotr Krzyżewski, Mirosław Laskowski, Iga Dorota Lis, Piotr Stryczek and Andrzej Szydło; approval was denied for Mirosław Kidoń, Marek Pietrzak, Marek Świder, Mateusz Wodejko and Tomasz Zdzikot.

• FY2015 duties were approved for Mirosław Laskowski, Herbert Wirth, Jarosław Romanowski, Marcin Chmielewski and Wojciech Kędzia.

• Supervisory Board members’ FY2024 performance of duties was approved in individual resolutions.

• Board and supervisory reports covered financial statements, management activities, internal controls, risk management and remuneration for 2024.