Identification of indications to conduct tests for the impairment ofinternational mining assets

The Management Board of KGHM Polska Miedź S.A. ("the Company") announcesthat as a result of the review of technical and economic assumptions ofkey international mining assets belonging to the KGHM Polska Miedź S.A.Group, there has been a significant change in the parameters for theseassets as regards mine lives, metals production volumes, assumedoperating costs and the level of capital expenditures during the life ofindividual mines.

In accordance with IAS 36, a significant change in the aforementionedassumptions is the indication of the possible impairment of assets, andobliges the Company to conduct tests for impairment as at the end of thenearest reporting period, i.e. 31 December 2016, with respect to:

•key international mining assets, in particular Sierra Gorda, Robinson,mining assets of the Sudbury Basin (i.e. the Morrison mine and theVictoria project) and the KGHM Ajax project, as well as

•inter-Group loans granted to finance the key international miningassets.

The results of the tests will be disclosed by the Company in a separateregulatory filing.

Legal basis: Art. 17 (1) of MAR (Regulation (EU) No 596/2014 of theEuropean Parliament and of the Council of 16 April 2014 on market abuse(market abuse regulation) and repealing Directive 2003/6/EC of theEuropean Parliament and of the Council and Commission Directives2003/124/EC, 2003/125/EC and 2004/72/EC (Official Journal of theEuropean Union dated 12 June 2014, no. L 173/1)