This initiative stems from ongoing efforts toward restructuring and transforming the Group into a cohesive, cost-effective entity with a strong position in the European fertilizers, plastics, and OXO product markets.

On October 31, 2024, following discussions and agreements with banks, Grupa Azoty Polyolefins signed an Amendment Agreement to the Stabilization Agreement dated December 15, 2023, regarding the financing of the Polimery Police project. The parties have agreed to the terms under which financial institutions will continue providing financing for the project during the extended term of the Stabilization Agreement, which now runs until November 29, 2024. The Amendment Agreement was signed with 15 financial institutions.

As of October 23, 2024, Grupa Azoty Polyolefins has produced a total of 200,000 tons of polypropylene. This production milestone was achieved during the testing phase to validate guaranteed parameters at the Polimery Police facility. Polypropylene produced at the newly constructed installations of the Polimery Police Project is available for both direct sales and distribution. Following the conditional interim acceptance of the PP installation and the Terminal Unloading and Storage subproject in July, the Company has full control over its production portfolio, which is being continuously adapted to market conditions.

The Supervisory Board of Grupa Azoty Polyolefins has passed a resolution to remove Wojciech Blew, Acting President of the Company, from the Management Board, effective October 20. The Supervisory Board also resolved to delegate Krzysztof Kołodziejczyk, a Member of the Supervisory Board of Grupa Azoty Polyolefins and Vice President of the Management Board of Grupa Azoty S.A., to temporarily perform the duties of President of the Management Board of Grupa Azoty Polyolefins. This delegation will last until a candidate is selected through the qualification process, but no longer than three months from the resolution's effective date, October 21.

Following discussions and negotiations with banks, Grupa Azoty Polyolefins has signed an Amendment to the Stabilization Agreement dated December 15, 2023, related to the financing of the Polimery Police project. This agreement, which extends financing terms until October 31, was signed with 15 financial institutions.

Hyundai Engineering Co., Ltd., the General Contractor for the Polimery Police project, has submitted two proposed amendments to the EPC contract. Notably, Grupa Azoty Polyolefins is currently negotiating with the General Contractor regarding the final settlement of the Polimery Police project, aiming to reach an agreement on mutual claims. As part of these negotiations, Grupa Azoty Polyolefins informed the General Contractor of its position and evaluation concerning the previous amendment proposals submitted in 2023 and February 2024. Based on the documents and information provided, Grupa Azoty Polyolefins has largely found no grounds to accommodate the contractor’s claims from 2023 and February 2024.