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 parameters ofkey international mining assets belonging to the KGHM Polska Miedź S.A.Group, indications of a possible change in the recoverable amounts of apart of these assets were identified.

As a result, pursuant to IAS 36, it obliges the Company to conduct testsfor impairment as at the end of the last reporting period, i.e. 31December 2018 in order to estimate the recoverable amount with respectto assets due to involvement in the joint venture Sierra Gorda SCM,assets of the Sudbury Basin (including the Morrison and McCreedy minesand the Victoria project) and the Franke mine.

For other key international mining assets, indications to conduct testshave not been 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)