Dear Shareholders,

In its resolution of March 29th 2021, the Supervisory Board of the Warsaw Stock Exchange approved the Best Practice for WSE Listed Companies 2021 ("Best Practice 2021") containing new corporate governance principles for companies listed on the Main Market of the WSE.

Best Practice 2021 is a new version of the corporate governance principles which issuers of shares admitted to trading on a regulated market of the Warsaw Stock Exchange have applied since 2002. As a set of corporate governance principles and rules of conduct helping listed companies to shape relations with other market participants, the Best Practice for WSE Listed Companies has been vital to these companies in building their competitive position, and it has significantly contributed to strengthening the attractiveness of the Polish capital market. Individual governing bodies adopting Best Practice to the extent specifically addressed to them is a recommended practice set out in the guidelines on the application of Best Practice 2021 published by the WSE.

In line with best market practices on respecting shareholder rights and ensuring transparent market communication, Grupa Azoty S.A. declares its intention to comply with the corporate governance principles to the fullest extent possible, while taking into account all applicable laws, corporate regulations and the Company's best interest.

In connection with the new version of Best Practice 2021, on July 28th 2021 the Management Board of the Company passed a resolution to adopt the Best Practice for WSE Listed Companies 2021 for application by Grupa Azoty S.A. On July 28th 2021, the Supervisory Board also passed a resolution to take measures, within its remit, to ensure compliance with Best Practice 2021, in particular the principles thereof applicable specifically to the Supervisory Board, in accordance with the principles of proportionality and adequacy and with due regard for the Company's interests.

As required by the WSE, the Company published the 'Report on compliance with Best Practice 2021' in a current report released via the EBI system on July 30th 2021. The document was promptly posted on the Company's website and is available at: https://tarnow.grupaazotv.com/relacie-inwestorskie/lad-korporacvinv/dobre-praktvki.

The document contains the Company's declaration of compliance with Best Practice 2021, and it is attached as an appendix for the General Meeting's information. A detailed explanation is provided for each case of non-compliance.

Given that the Best Practice for WSE Listed Companies 2021 includes principles that are primarily applied through actions or omissions of the Company's shareholders, the Management Board presents this information to the General Meeting, recommending that within its remit the General Meeting follow Best Practice 2021 as approved in the relevant resolution of the Supervisory Board of the Warsaw Stock Exchange, taking into account generally applicable laws and the Company's Articles of Association.

President of the Management Board of

Grupa Azoty S.A.

[illegible signature] Tomasz Hinc

Attachments

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Grupa Azoty SA published this content on 20 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 October 2021 11:30:06 UTC.