Information on the intention to carry out collective layoffs

Management Board of PKP CARGO S.A. (“Company”) informs that today, in a resolution, it decided to carry out group layoffs by the PKP CARGO S.A. pursuant to the Act of March 13, 2003 on special rules for terminating employment relationships with employees for reasons not attributable to employees (“Act”).

The consequence of adopting the above-mentioned resolution, in accordance with the Act, is the commencement of consultations on the intention to carry out group layoffs with company trade unions operating in the Company’s.

Group layoffs would cover up to 30% of the Company’s employees (up to 4,142 employees) in various professional groups and would take place in the period: no earlier than the day following the date of notification to district labor offices until September 30, 2024.

In connection with the termination of the employment relationship as part of group layoffs, employees are entitled to a severance payment depending on the period of employment. The estimated amount of the provision related to the employment restructuring in the Company and information on the impact of employment restructuring on the financial results will be determined after the consultation.