On August 31st 2023, Grupa Azoty signed waiver and amendment letters with 13 financing institutions whereby they agreed to waive certain covenants laid down in agreements on the provision of financing to Grupa Azoty and Grupa Azoty Police. The waiver was granted in response to requests submitted by these entities in June 2023. Under the waiver letters, consent was given to waive the net debt/EBITDA covenant as at the end of June 2023. The terms of the waiver letters do not differ from standard terms used in agreements of this type. Grupa Azoty will remain in continued dialogue with the financing institutions.

Azoty Group S.A. has signed a contract with thyssenkrupp Uhde for the preparation of licensing documentation and the supply of all process equipment for a concentrated ammonium nitrate solution plant (referred to as the Neutralisation Plant) planned to be built in Tarnów. The project’s implementation will mark another step towards fulfilling the objectives of the Green Deal. It will enhance production efficiency by substantially decreasing the energy intensity of the fertilizer manufacturing process, and helps to reduce energy consumption in the production process by over 250,000 GJ per year.

Grupa Azoty urgently advises caution regarding fraudulent video ads circulating online. This deceptive online content exploits Grupa Azoty’s name to lure internet users into clicking on links, falsely promising significant monetary rewards. Particularly misleading is the claim: “Poles earn from PLN 16,000 with Grupa Azoty.” These ads also improperly display Grupa Azoty’s logo and feature images of select Company facilities.

On August 17th 2023, Grupa Azoty S.A. entered into a new distribution agreement with COMPO EXPERT GmbH. Under the agreement, the offer of Grupa Azoty fertilizers which will be distributed by COMPO EXPERT on foreign markets will be significantly expanded, and the product portfolio will include all nitrogen and compound fertilizers. The contract is open-ended, with the distribution schedule set from October 1st 2023 to December 31st 2024.

Grupa Azoty Compounding, a member company of the Grupa Azoty Group, has completed a project it carried out in Tarnów to construct a new production and storage facility incorporating a recycling unit. The new project allows them to shred by-products (BPs) generated by manufacturing processes of various Group companies, coming from the natural polyamide units in Tarnów and Guben, the polypropylene plant in Police, as well as from external customers. The shredded by-products are utilised as input materials for the production of PIR (Post Industrial Recycled) modified plastics. This initiative will enable Grupa Azoty Compounding to increase the volume of products with a recycled content and foster cooperation with customers in the field of by-products collection. The cost of the project is about PLN 5m.

Over the past six months, the Grupa Azoty Brand Ambassadors have been making a remarkable impact, delivering presentations at high schools and universities, orchestrating chemistry competitions for youth and promoting career opportunities within the chemical industry on various social media platforms. A summary of their endeavours, carried out under the theme of ‘Grupa Azoty as an Employer of Choice’, was recently held at the Group’s headquarters in Warsaw.