Body of the report: 
The Management Board of Jastrzębska Spółka Węglowa S.A. (“JSW”, “Company”) reports that on 29 April 2020 it adopted a resolution to retire series A and B Investment Certificates in the JSW Stabilization Closed-End Investment Fund (“CIF”) for a total estimated amount of approximately PLN 400 million. At the same time, on the same day the Company’s Supervisory Board consented to the foregoing retirement in accordance with JSW’s Articles of Association. 
The funds from retiring the CIF Certificates are scheduled to be received as follows, i.e. roughly PLN 200 million in June 2020, roughly PLN 100 million in July 2020 and roughly PLN 100 million in September 2020. The funds obtained by retiring the CIF certificates will be used for purposes associated with the Company’s ongoing operations and investment activity.
The closed-end investment fund was created by the Company to counter possible threats related to a deterioration in liquidity, its stabilization and mitigate the impact posed by coal and coke price volatility and maintain the continuity of the Group’s operating and investment activities. 
The carrying value of the investments in the CIF’s asset portfolio as at 31 March 2020 was PLN 1,562.0 million. The carrying value includes the cash contemplated for retirement under the decisions made in January 2020 totaling PLN 391.8 million, which the Company reported in current report no. 1/2020. This amount was credited to the Company’s account in April of this year. 

Legal basis: Article 17 Section 1 of Regulation (EU) No. 596/2014 of the European Parliament and of the Council of 16 April 2014 on Market Abuse and Repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC.