Grupa Azoty has signed an annex to the Memorandum of Understanding (MoU) concluded on August 1, 2025, between Grupa Azoty, Grupa Azoty Police, Grupa Azoty Polyolefins, and Orlen. The annex broadens the scope of cooperation to include an analysis of the potential sale of all or part of Grupa Azoty Polyolefins shares by Grupa Azoty and Grupa Azoty Police.

Grupa Azoty continues to improve its performance despite a challenging market environment and the ongoing Polimery Police Project. EBITDA in the company’s core business was positive in both the first half and the second quarter of 2025, reaching PLN 160 million and PLN 73 million respectively (after excluding the negative impact of Grupa Azoty Polyolefins’ results). In the first half of 2025, the Group generated consolidated sales revenue of PLN 7,140 million, representing a year-on-year increase of 5.9%. EBITDA came in at minus PLN 79 million, an improvement of PLN 100 million compared with the same period of the previous year. The EBITDA margin was minus 1.1%, up by 1.6 percentage points year on year.

The Supervisory Board of Grupa Azoty S.A. has appointed Artur Chołody as Vice President of the Management Board, effective October 1, 2025. At the same meeting, Hubert Kamola stepped down as Vice President of the Management Board and resigned from his role as President of Grupa Azoty Puławy.

In the second quarter of 2025, Grupa Azoty generated estimated consolidated sales revenues of PLN 3,319 million and an EBITDA result of minus PLN 71 million, with an EBITDA margin of minus 2.1%. Compared to the same period of 2024, consolidated EBITDA improved by PLN 57 million and the EBITDA margin by 1.7 percentage points. EBIT and EBITDA improved across all segments except Plastics, which was significantly impacted by the performance of Grupa Azoty Polyolefins. Positive EBITDA was achieved in the Agro Segment. Excluding the negative impact of Grupa Azoty Polyolefins, EBITDA at the Group level would also be positive, amounting to PLN 73 million.

On July 31, 2025, the Cooperation and Stabilization Agreement between Grupa Azoty and the Key Stakeholders of the Polimery Police project, originally signed on December 19, 2024 (along with subsequent annexes), expired. At the same time, the agreement dated January 16, 2025 (with annexes) between Grupa Azoty, its subsidiaries Grupa Azoty Police and Grupa Azoty Polyolefins, and Orlen, regarding the continuation of cooperation to define the terms and conditions of a potential transaction involving the acquisition of all or part of the shares in GA Polyolefins or another form of investment, also expired.

On July 14, 2025, Grupa Azoty and the key stakeholders of the Polimery Police project signed another annex to the Cooperation and Stabilization Agreement dated December 19, 2024, extending its term until July 31, 2025.