Execution of an annex to long-term agreement for sale and purchase of thermal coal

Legal basis: Art. 56.1.2 of the Public Offering Act - Current and periodic information

Text of the report: The Management Board of Grupa Azoty Zakłady Azotowe Puławy S.A. (the 'Company') announces that on November 25th 2015 an annex (the 'Annex') was signed to the Long-Term Agreement for Sale of Thermal Coal executed by the Company
and Lubelski Węgiel Bogdanka S.A. of Bogdanka on January 8th 2009 (the 'Agreement'). The Agreement and the previous annexes were reported by the Company in Current Report No. 3/2009 of January 9th 2009, Current Report No. 52/2009 of November 25th 2009, Current Report No. 42/2011 of December 5th 2011, Current Report No. 59/2012 of December 28th 2012, Current Report No. 35/2013 of June 10th 2013, and Current Report No. 27/2014 of December 17th 2014.

The Agreement provides for the supply (sale) of coal to the Company. The Annex extends the Agreement's term until the end of 2019 (previously the Agreement was to terminate at the end 2017) and changes the volume of coal to be supplied during the Agreement's term as well as the coal price in the period from July 1st 2015 to December 31st 2016.

Following the execution of the Annex, the total value of the Agreement (without accounting for differences within permitted tolerance) from its execution date until its expiry on December 31st 2019 is estimated at PLN 859m (VAT exclusive), which is 5.6% less than the Agreement's value reported in Current Report No. 27/2014 of December 17th 2014. The value of the Agreement still exceeds 10% of the Company's equity, qualifying it as a significant agreement.

The estimated value of the Agreement to be performed on the terms defined in the Annex (i.e. in the period from July 1st 2015 to December 31st 2019) is PLN 344m, which also exceeds 10% of the Company's equity.

The other terms of the Agreement remain unchanged and do not differ from standard terms used in agreements of such type.

Legal basis: Par. 5.1.3 of the Minister of Finance's Regulation on current and periodic information to be published by issuers of securities and conditions for recognition as equivalent of information whose disclosure is required under the laws of a non-member state, dated February 19th 2009 (consolidated text: Dz.U. of 2014, item 133).

Subject: Execution of an annex to long-term agreement for sale and purchase of thermal coal Legal basis: Art. 56.1.2 of the Public Offering Act - Current and periodic information Text of the report: The Management Board of Grupa Azoty Zakłady Azotowe Puławy S.A. (the 'Company') announces that on November 25th 2015 an annex (the 'Annex') was signed to the Long-Term Agreement for Sale of Thermal Coal executed by the Company and Lubelski Węgiel Bogdanka S.A. of Bogdanka on January 8th 2009 (the 'Agreement'). The Agreement and the previous annexes were reported by the Company in Current Report No. 3/2009 of January 9th 2009, Current Report No. 52/2009 of November 25th 2009, Current Report No. 42/2011 of December 5th 2011, Current Report No. 59/2012 of December 28th 2012, Current Report No. 35/2013 of June 10th 2013, and Current Report No. 27/2014 of December 17th 2014. The Agreement provides for the supply (sale) of coal to the Company. The Annex extends the Agreement's term until the end of 2019 (previously the Agreement was to terminate at the end 2017) and changes the volume of coal to be supplied during the Agreement's term as well as the coal price in the period from July 1st 2015 to December 31st 2016. Following the execution of the Annex, the total value of the Agreement (without accounting for differences within permitted tolerance) from its execution date until its expiry on December 31st 2019 is estimated at PLN 859m (VAT exclusive), which is 5.6% less than the Agreement's value reported in Current Report No. 27/2014 of December 17th 2014. The value of the Agreement still exceeds 10% of the Company's equity, qualifying it as a significant agreement. The estimated value of the Agreement to be performed on the terms defined in the Annex (i.e. in the period from July 1st 2015 to December 31st 2019) is PLN 344m, which also exceeds 10% of the Company's equity. The other terms of the Agreement remain unchanged and do not differ from standard terms used in agreements of such type. Legal basis: Par. 5.1.3 of the Minister of Finance's Regulation on current and periodic information to be published by issuers of securities and conditions for recognition as equivalent of information whose disclosure is required under the laws of a non-member state, dated February 19th 2009 (consolidated text: Dz.U. of 2014, item 133).

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