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.

With the three-year term of the current Management Board of Grupa Azoty S.A. coming to an end, the Supervisory Board has announced a qualification process for new Board Members for the 13^th term. The current 12^th term began in May 2021 and, as per applicable regulations, will end on December 31, 2024. In such cases, initiating the qualification process is a statutory obligation.

In Q3 2024, Grupa Azoty generated consolidated sales revenue of PLN 3.085 billion and an EBITDA result of minus PLN 120 million, with an EBITDA margin of minus 3.9%, reflecting an improvement of approximately PLN 228 million compared to the same period in 2023. The net loss for the quarter decreased year-over-year by PLN 517 million, amounting to PLN 226 million, compared to a loss of PLN 743 million in Q3 2023.

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.