On February 14, 2024, Mr. Grzegorz Kądzielawski resigned from the Supervisory Board and from his role as a Chairman of the Supervisory Board of Grupa Azoty Polyolefins S.A. On February 14, 2024, Mr. Marek Wadowski resigned from his membership in the Management Board and from his role as a Vice-president of the Management Board of the Company Grupa Azoty Polyolefins S.A.

On 14 February 2024, the Extraordinary General Meeting of Grupa Azoty S.A. decided to change the composition of the Company’s Supervisory Board. The resolutions on removal and appointment of Supervisory Board Members, as well as on appointment of the Chair of the Supervisory Board, came into effect upon adoption.

Grupa Azoty has released estimates of production volumes for January 2024. The figures confirm that the fertilizer market is prepared for the peak application season as a result of the purchases made in December. The announced data shows that nitrogen fertilizer production at Group companies declined relative to December last year, with estimated volumes for January 2024 at 199,000 tonnes, compared to 281,000 tonnes for December. On the other hand, an uptick in production was recorded for speciality fertilizers, with 25,000 tonnes estimated for January 2024, compared with 17,000 tonnes in December 2023. In the case of compound fertilizers, estimated production in January 2024 was 48,000 tonnes, compared to 54,000 tonnes in December 2023.

On 9 February 2024, Grupa Azoty S.A. published a current report in which it announced that in the course of work on the preparation of the full-year consolidated financial statements for the financial year 2023 indications of impairment of the assets of Grupa Azoty Polyolefins S.A., with an effect on the value of Grupa Azoty S.A.’s assets, were identified.

Azoty Group S.A. has signed an agreement with financing institutions that ensures that the credit facilities under the financing agreements with the institutions remain available, the financing institutions will not take steps to cancel or reduce the credit facilities available under the financing agreements, and that they will not exercise certain rights under the financing agreements in connection with an actual or potential breach of the financing agreements during the term of the agreement, which has been concluded for the period until 27 February 2024. This will facilitate the formulation of a long-term restructuring plan for Grupa Azoty. The agreement was signed on 2 February 2024 by Grupa Azoty S.A. on its own behalf and for the Grupa Azoty Group companies with the following financing institutions: Powszechna Kasa Oszczędności Bank Polski S.A., Bank Gospodarstwa Krajowego, ING Bank Śląski S.A., Santander Bank Polska S.A., Caixabank S.A. Polish Branch, BNP Paribas Faktoring sp. z o.o., ING Commercial Finance Polska S.A., Pekao Faktoring sp. z o.o., BNP Paribas Bank Polska S.A., Santander Factoring sp. z o.o., and Banco Santander S.A., Frankfurt Branch, as well as the European Bank for Reconstruction and Development and the European Investment Bank.

On 2 February 2024, at the registered office of Grupa Azoty Polyolefins, the General Contractor submitted a change proposal to the turn-key contract for the execution of the Polimery Police project, as announced by Grupa Azoty S.A. in a current report.