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.

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.