Decision to submit to the court an application for opening in relation to PKP CARGOTABOR Spółka z o.o. restructuring proceedings

Management Board of PKP CARGO S.A. with its registered office in Warsaw (“Issuer”, “Company”) informs that today it received from its subsidiary PKP CARGOTABOR Spółka z o.o. (“Subsidiary”) information about the Management Board’s decision to submit an application to the court to open restructuring proceedings referred to in the provisions of the Act of May 15, 2015, Restructuring Law (consolidated text: Journal of Laws of 2022, item 2309) .

The submission of the application by the Subsidiary was dictated by the fact that PKP CARGO S.A. on June 27, 2024, it submitted an identical application to the court, about which the Company announced in current report No. 37/2024. The Issuer is the owner of 100% of shares in PKP CARGOTABOR Spółka z o. o., the largest customer, which is in arrears with the payment of receivables important to the subsidiary. Therefore, in order to secure the financial and liquidity situation, the Management Board of the Subsidiary Company made this decision.