Information on the progress of work on the restructuring plan of PKP CARGO S.A. in restructuring – application to extend the deadline for preparing the plan

Management Board of PKP CARGO S.A. in restructuring with its registered office in Warsaw (“Issuer”, “Company”), with reference to current report No. 15/2025 of February 26, 2025, informs that today the Administrator of the restructuring estate PKP CARGO S.A. in restructuring – Mrs. Izabela Skonieczna-Powąka (“Manager”) submitted to the District Court for the Capital City of Warsaw in Warsaw, 18th Commercial Division for bankruptcy and restructuring, a request to extend the deadline for preparing the PKP CARGO S.A. Restructuring Plan. in restructuring until June 30, 2025

In the opinion of the Administrator and the Company’s Management Board, the status of work on the Restructuring Plan is advanced, however, preparing a document containing all the required articles. 10 Pr.r. elements by February 28, 2025 is not possible. Work is still ongoing on the elements of the Plan, including the business and financial model of the Company and its role in the Capital Group PKP CARGO as part of the new strategy being developed for the entire Group, which will determine the directions of development, the scope of restructuring and the adopted market assumptions and operational.

Therefore, in the opinion of the Administrator and the Management Board, the deadline for submitting the Plan is realistic and the resulting arrangement proposals are the end of June this year, which is also related with the need to obtain corporate consents and a preliminary opinion of the Committee of Creditors.