Under the Agreement signed on January 16, 2024, Grupa Azoty and Orlen will continue to work together to determine the terms and conditions of a potential transaction in which Orlen - or another entity designated by Orlen - would acquire all or part of the shares in Grupa Azoty Polyolefins currently held by Grupa Azoty, or otherwise execute the investment. The Parties have decided that negotiations on the terms of Orlen’s potential acquisition of Grupa Azoty Polyolefins, as well as an analysis of the potential transaction (including due diligence), will be carried out by March 31, 2025. This deadline may be extended or amended without altering the Agreement.

On January 20, 2025, the Supervisory Board of Grupa Azoty Polyolefins S.A. adopted a resolution changing the composition of the Company’s Management Board. Effective January 21, 2025, the Supervisory Board appointed Mr. Krzysztof Kołodziejczyk as President of the Management Board of Grupa Azoty Polyolefins S.A. for the third joint three-year term. Since October 21, 2024, Mr. Kołodziejczyk had been serving as Acting President of the Management Board, delegated from his role as a Member of the Supervisory Board.

The signing of the Cooperation and Stabilization Agreement marks the next phase in discussions between Grupa Azoty and Orlen. Both companies have reaffirmed their commitment to further analyze strategic options outlined in the Letter of Intent signed in September this year regarding Grupa Azoty Polyolefins. The agreement remains in force until March 31, 2025, or earlier, should specific conditions outlined in the agreement arise.

Following detailed discussions and agreements with banking partners, Grupa Azoty Polyolefins has signed an Amendment to the Stabilization Agreement originally dated December 15, 2023, concerning the financing of the Polimery Police project. This amendment extends the terms of the Stabilization Agreement’s validity to January 31, 2025. The updated agreement has been finalized with 15 financial institutions.

Following discussions and agreements with banks, Grupa Azoty Polyolefins has signed an Amendment Agreement to the Stabilization Agreement dated December 15, 2023, concerning the financing of the Polimery Police project. The parties have agreed on the terms under which the Financial Institutions will provide financing for the project during the next period of the Stabilization Agreement, effective until December 13 of this year. The Amendment Agreement was signed with 15 Financial Institutions.

The Supervisory Board of Grupa Azoty S.A. has confirmed the composition of the Management Board for its upcoming 13^th term, effective January 1, 2025. The lineup remains unchanged, except for the Employee-Elected Board Member, who will be appointed following a planned election process.