Body of the Report:

The Management Board of Jastrzębska Spółka Węglowa S.A. (“Issuer”, “JSW”) hereby announces that, among others, as a result of changes in interest rates introduced by the Monetary Policy Council in 2014, the discount rate used to calculate the Issuer’s employee benefit provisions as at 31 December 2014 changed.

On 13 January 2003, the Issuer received final calculations of employee benefit provisions from the actuary; the provisions will increase by PLN 506.6 million in the JSW Group (of which PLN 474.9 million in JSW).

The impact of this increase in provisions on JSW Group’s current financial result will amount to PLN 55.7 million, of which PLN 33.9 million in JSW, while PLN 450.9 million will be posted to other comprehensive income of the JSW Group, of which PLN 441.0 million will be attributed to JSW.

Recognition of these provisions will not affect the current cash position of JSW and the JSW Group.