KGHM International reported its Q1 2013 results, with key highlights including: - Copper production increased 18% compared to Q1 2012, to 65 million pounds, while copper sales decreased to 50 million pounds. - C1 cash costs decreased to $1.99 per pound of copper, from $2.38 in Q1 2012. - Adjusted EBITDA remained unchanged at $80 million compared to Q1 2012. - The Sierra Gorda project in Chile progressed construction and is now 41% complete, on track to begin operations in 2014.

1. Company Results for
Q1 2013
May 22, 2013

2. Confidentiality and Disclaimer
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placed on, the accuracy, completeness or correctness of the information contained herein. It is not the intention to provide, and you
may not rely on these materials as providing, a complete or comprehensive analysis of the Company’s financial or business
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howsoever arising from any use of these materials or their contents or otherwise arising in connection with these materials.
These materials include forward-looking statements. Forward-looking statements include, but are not limited to, the Company’s estimates
for mineral resources, future production, sales, cash flow, business and financial prospects, production growth profile, mine lives,
costs, capital cost expenditures, plans, objectives and expectations, including with respect to future projects, progress in the
development of the projects, demand and market outlook for commodities, future commodity prices, and other statements that are not
historical facts. When used in this document, the words such as "could," "plan," "estimate," "expect," "intend," "may," "potential,"
"should," and similar expressions are forward-looking statements. Although the Company believes that the expectations reflected in
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For more information about the Company and its parent KGHM Polska Miedź S.A., including financial statements and other reports, go to
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All figures are in US$ unless otherwise stated or unless the context requires otherwise.
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3. KGHM International Q1 2013 Results Highlights
• Operations:
• Cu production:
• Q1 2013 vs. Q1 2012 increased to 65Mlbs (30kt) from 55Mlbs (25kt)
• Cu sold:
• Q1 2013 vs. Q1 2012 decreased to 50Mlbs (23kt) from 55Mlbs (25kt)
• C1 cost:
• Q1 2013 vs. Q1 2012 decreased to $1.99/lb from $2.38/lb
• Financial highlights:
• Adjusted EBITDA:
• Q1 2013 vs. Q1 2012 no change at $80M
• Growth pipeline:
• Sierra Gorda highlights:
• 41% complete & On track for start up in 2014
• Updated capital cost
• Victoria: Continuing engineering and First Nations consultation
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4. Financial Results for KGHM International (US$M)
3
• Adjusted EBITDA is a non-IFRS measures which is calculated as income from mining operations plus amortization,
depreciation and depletion, inventory write down and stock-based compensation, minus general and administrative and
exploration and evaluation costs. Management believes that these measures provide investors with ability to better evaluate
underlying performance.
• Net revenues in Q1 2013
decreased 13% to $272M
compared to Q1 2012.
• Copper production Q1
2013 up 18% to 65Mlbs .
• Copper sales lower at
50Mlbs vs 55Mlbs in Q1
2012 due to inventory
timing.
• Net earnings affected by
one-off $26M investment
write-down
312
80
33
272
80
15
Revenue Adjusted EBITDA NetEarnings
Q1 2012 Q1 2013

5. KGHMI’s Positive Production & Adjusted EBITDA
4
Main Operations as Percentage of Adjusted EBITDA
Robinson
Morrison
Other
DMC
Adjusted EBITDA (US$M)
80 80
Q1 2012 Q1 2013

6. Higher production of copper and TPM in Q1 2013
Copper production
k tonnes
Nickel production
k tonnes
TPM (Total Precious Metals)
k ozs
2012 Copper equivalent amounts are based on previously announced LOM commodity prices: Cu at $2.75/lb, Ni at $8/lb, Pt at
$1600/oz, Pd at US$500/oz, Au at $1000/oz and Mo at $12/lb and excludes the impact of the Franco Nevada Agreement.
 Total copper equivalent production in Q1 2013 increased to 38k tonnes* (83Mlbs) compared to 33k
tonnes (72Mlbs) in Q1 2012
 Highest production growth in Q1 2013 was recorded in Robinson (+51%)
 Continuous improvement in mill operating practices at Robinson mine have boosted production
rates, especially by increasing copper recovery rates and increase in mill throughput.
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+27%
+18% -29%
25.1
29.5
Q1 2012 Q1 2013
1.4
1.0
Q1 2012 Q1 2013
22.3
28.3
Q1 2012 Q1 2013

7. C1 unit cash cost decreased due to higher production with similar costs
Unit cash cost
C1 – US$/lb
 Higher production volumes at Robinson has a positive impact on overall unit cash cost in Q1 2013.
 Robinson achieved $1.47/lb unit cost in Q1 2013 compared to $2.75/lb in Q1 2012 due to
exceptional performance at the mill.
 Better TPM credits offset lower Nickel credits
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2.38
1.99
Q1 2012 Q1 2013

8. Key KGHM International Operations
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Robinson
Morrison
• Cu production 51% higher vs. Q1
2012 - higher recoveries and
increased milling rates
• C1 cost significantly lower than Q1
2012 at $1.47/lb Cu
• The remainder of 2013
production will be transitioning
to include the Kimbley and
Liberty pits
• Improvement initiatives continue
around the mill performance
• Increased haulage fleet to allow
for accelerated stripping
Outlook
• Production 30% lower vs. Q1 2012 -
decreased volumes due to
substantial remedial work at the
Craig Shaft and lower grades
• Lateral development continued
• C1 cost higher on lower production
volumes and lower by product
revenues
• Higher production volumes are
expected as remediation work is
completed in May 2013
• Diamond drilling on the lower
portion of the Morrison orebody
has re-commenced in Q2 2013
Outlook

9. Sierra Gorda project
• Detailed engineering phase largely complete and the
majority of the major procurement moved into the main
construction phase
• Overall progress as of March at 41%
• ~1/4 of the Plant Construction complete
• Construction of the seawater pipeline and tailing storage
facility began
• DCE completed with a revised initial CAPEX of $3.9B,
of which $3.1B has been committed
NAJWAŻNIEJSZE OSIĄGNIĘCIA W 2012 ROKUSIERRA GORDA
Mine under construction,
processing plant
construction and pre-
stripping, construction
completion 41%.
Status
Open pitMine
55% KGHM International,
45% SMM and SC
Ownership
~ 1,3 bn t @ 0,42% Cu,
0,0025% Mo
Reserves
Q1 2013 KEY ACCOMPLISHMENTS
Cu Au Mo
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