The Management Board of Grupa Niewiadów – PGM S.A., with its registered office in Warsaw (the Issuer), announces that on September 4, 2025, during the International Defense Industry Exhibition in Kielce, the Issuer’s subsidiary, namely Zakłady Sprzętu Precyzyjnego Niewiadów sp. z o.o. (ZSP), in which the Issuer holds shares representing 100% of the share capital through Grupa Niewiadów S.A., signed a Letter of Intent (“LoI”) with the Czech state-owned research and development entity Vojensky technicky ustav, s.p. (VTU), operating through its specialized division VTUVM.
The purpose of the agreement is to establish industrial cooperation in the areas of sales, marketing, and, ultimately, the production of 60-mm mortar ammunition, including, among others, the HEF, HEI, SMK, and PR-S types. The cooperation pertains to the Polish market, and its aim is to ensure supplies for the Armed Forces of the Republic of Poland.
In accordance with the terms of the LoI, ZSP will gain access to the technical and manufacturing documentation necessary to establish local production in Poland. The final product will be manufactured in the Republic of Poland and labeled "Made in Poland (by ZSP Niewiadów for VTU)".
The collaboration will be exclusive within Poland and will be carried out under a future Cooperation Agreement, which will be negotiated and signed within the next 12 months.
The signing of a Letter of Intent with Vojensky technicky ustav, s.p. represents a significant step toward building strategic industrial capabilities in the field of armaments and ammunition within the Issuer’s Capital Group. The planned cooperation will not only enable the Group to expand its product portfolio to include a new segment—60 mm mortar ammunition—but also to develop ZSP’s production capacity based on the proven technology and know-how of the Czech partner.
The Issuer’s Management Board considers the signing of the LoI to be a step of great strategic importance that aligns with the Group’s long-term development strategy in the defense industry.