Identification of indications to verify the recoverable amount ofinternational mining assets

The Management Board of KGHM Polska Miedź S.A. ("the Company") announcesthat as a result of reviewing the 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 a partof these assets as regards mine lives, metals production volumes,assumed operating costs and the level of capital expenditures during thelife of individual mines.

In accordance with IAS 36, a significant change in the aforementionedassumptions is the indication of a possible change in the recoverableamount of the assets, and obliges the Company to conduct tests forimpairment as at the end of the last reporting period, i.e. 31 December2017 in order to verify the recoverable amount with respect to theRobinson mine, mining assets of the Sudbury Basin (i.e. the Morrisonmine and the Victoria project), the Franke mine and the KGHM Ajaxproject.

With respect to assets due to involvement in the joint venture SierraGorda SCM, including the value of the Sierra Gorda SCM investment andloans granted to Sierra Gorda SCM, indications to conduct tests have notbeen identified.

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)