Decision of the Company Management Board on acceptance of the terms and conditions of a loan agreement and conclusion of the agreement

The Management Board of Grupa Kęty S.A. (hereinafter referred to as the Company or the Issuer) informs that on 4 December 2023 it made a decision on the acceptance of the terms presented by Powszechna Kasa Oszczędności Bank Polski Spółka Akcyjna (hereinafter referred to as the Bank) with regard to the multipurpose credit facility agreement (hereinafter referred to as the Agreement) in the total amount of PLN 400 million, to which a party, apart from the Issuer, are its subsidiaries, i.e. Alupol Packaging S.A., Alupol Packaging Kęty sp. z o.o., and Aluprof S.A. (hereinafter referred to as the Borrowers), and on the conclusion of that Agreement. The Agreement will be concluded in order to replace the previous agreement in the same amount, which was concluded with the Bank on 3 July 2008 and subsequently amended (hereinafter referred to as the Previous Agreement).

Within the credit facility, which will be available up until 31 May 2026, each Borrower will be granted a sub-limit for:

• a loan in the current account which may be drawn in PLN, EUR or USD for financing current liabilities within the regular business, of which, in the first place, to repay the debt of the Borrowers against the Bank on account of the Previous Agreement, which will be terminated at the moment of payment of the whole indebtedness amount;
• documentary letters of credit in domestic and foreign turnover, as well as bank guarantees in domestic and foreign turnover, which will be issued to secure the liabilities of the Borrowers against the guarantee beneficiaries under Civil Law activities, including agreements, and also those resulting from the general laws, and which will be opened in PLN, EUR and USD.

The interest on the loans under the credit facility will be variable and calculated based on a variable interest rates (WIBOR, EURIBOR or SOFR), plus the Bank margin.

The Borrowers will be jointly and severally liable for repayment of the debt under the Agreement, in compliance with the specific provisions of the Agreement. The Agreement will be secured with blank promissory notes issued by each of the Borrowers, together with promissory note declarations.

Other terms and conditions of the Agreement do not differ from the generally applicable standards for such agreements.