Body of the report:

The Management Board of Jastrzębska Spółka Węglowa S.A. (“JSW”) hereby reports that on 15 December 2017 an agreement (“Agreement”) was entered into by and between Jastrzębska Spółka Węglowa S.A. with its registered office in Jastrzębie-Zdrój (acting in the Agreement as the “Seller”) and voestalpine Rohstoffbeschaffungs GmbH and Importkohle GmbH with its registered office in Linz, Austria (acting in the Agreement as the “Buyer”) for the sale of coking coal.

The estimate value of the Agreement over its term is PLN 1.35 billion (one billion three hundred fifty million Polish zloty).

The Agreement was entered into for a period of 5 years from 1 April 2018 to 31 March 2023.

The detailed pricing conditions will be agreed upon quarterly.

The settlement currency of the Agreement is the euro.

The Agreement does not contain any provisions establishing contractual penalties other than clauses customarily applied in this type of contract, providing for settlement of the quality of supplied coal in the form of price reductions.

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.