Submission of a request to the Judge-Commissioner to change the deadline for PKP CARGO S.A. under restructuring to submit the final project of the Arrangement Proposals to the Creditors’ Committee
The Administrator of the sanation estate of PKP CARGO S.A. under restructuring (“the Company, “Issuer”) announces that on May 15, 2026, it filed a motion with the District Court for the Capital City of Warsaw in Warsaw, 18th Commercial Division for Bankruptcy and Restructuring, in the reorganization proceedings under case no. WA1M/GRs/6/2024, filed a motion to amend the Chairman’s order of May 8, 2026 about which the Company reported in Current Report No. 33/2026 on May 11, 2026, by changing the deadline for submitting the draft final Arrangement Proposals to the Creditors’ Council and its individual members form May 22, 2026, to May 29,2026.
The Administator’s motion is linked to the intensive, multi-stage, and advanced work currently underway to finalize the Arrangement Proposals and the financing model for implementing the future arrangement. This work includes, in particular, finalizing the economic and organizational assumptions of the restructuring, and coordinating the restructuring and financial documentation with the advisors assisting in the restructuring process. The process of preparing Arrangement Proposals also requires the parallel execution of a range of organizational, financial, corporate, and regulatory activities, and the preparation of corporate materials as well as the necessity to carry out specific corporate procedures stems both from the provisions of the Commercial Code and from the Company’s internal regulations, including its Articles of Association.
In the opinion of the Administrator and the Company’s Management Board, the postponement of the deadline remains justified by the need to present the Creditors’ Council a draft of the Arrangement Proposals in a complete, coherent from based on verified financial and organizational assumptions, while ensuring that the Arrangement Proposals can be field with the case file by June 30, 2026, in accordance with the order of May 8, 2026. Premature presentation of the draft Arrangement Proposals, prior to the completion of the activities indicated above, could lead to the need for subsequent updates to the arrangement documentation and the emergence of discrepancies between the material presented to the participants in the restructuring proceedings.
The proposed amendment does not affect the current schedule for the further processing of Arrangement Proposals in the course of the reorganization proceedings.