Always forward

| Prospects & Investment |

In comparison with the corresponding period in the previous financial year, the dynamics of growth of “PUŁAWY” Company has remained impressive. In many respects the growth (in terms of output volume) proved remarkable.

The above is true of both agricultural and chemical segments. Not only the Parent Company, i.e. “PUŁAWY”, is responsible for this success. Recognition is due to Gdańskie Zakłady Nawozów Fosforowych “Fosfory” and “Azoty – Adipol” from Chorzów as well. From the 1st July to 31st December 2012, as compared to the first half of 2011/12 financial year, the Group produced 112,4% as much ammonia, 116,% – nitric fertilizers, 111,5% – AdBlue®, 95,8% – CAPROLACTAM™, 108,1% – Melamina™ and 102,7% – hydrogen peroxide.

In the second half of 2012 “Fosfory” produced 102% as much phosphatic fertilizers and 114,8% multi-compound fertilizers. In “Azoty – Adipol” the output of potassium nitrate was 132% of previous period’s result, but the growth of calcium nitrate production to 585,8% of previous year result was the most noteworthy success. This achievement was connected with increased market capacity and good pricing.