A newly signed Letter of Intent marks the first step for both parties to negotiate the finer points of a potential agreement. Should a deal be reached, deliveries would be facilitated via a dedicated procurement platform set to include a select group of European gas buyers and designated U.S. gas producers.

Following extensive discussions and negotiations with various banks, Grupa Azoty Polyolefins has signed an Amendment to the Stabilization Agreement dated December 15, 2023, regarding the financing of the Polimery Police project. As a result, the parties have agreed to extend the Stabilization Agreement until February 28, 2025. The Amendment was executed with 15 financing institutions.

Azoty Group has signed a contract with Ukraine's Agroprosperis Group for the supply of NPK fertilisers. Azoty Group's new contractor is the largest producer and exporter of agricultural crops with the foreign investments in the Black Sea region. The first delivery of fertilisers was made in December, with further deliveries planned for January this year.

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.

Grupa Azoty S.A. has been awarded public funding under the government program “Assistance for Energy-Intensive Industries Related to Natural Gas and Electricity Prices in 2024,” managed by the National Fund for Environmental Protection and Water Management. The financial assistance granted to Grupa Azoty S.A. amounts to nearly PLN 7.3 million, with the total compensation for companies within the Grupa Azoty Capital Group exceeding PLN 44.2 million.