Body of the report:             

The Management Board of Jastrzębska Spółka Węglowa S.A. [“JSW”, “Company”] hereby reports that it has completed analyses of the key indications that the carrying amount of assets may be impaired, in accordance with the provisions of IAS 36 Impairment of Assets.

In connection with changes in certain technical and economic parameters constituting indications for prerequisites for recognition of impairment losses on the JSW Group's fixed assets in previous years, such as operating costs and changes in the assumed production volume and updating of price assumptions for the coal and coke prices projected for subsequent years, taking into account the carrying amount of JSW's net assets remaining above its market capitalization, the JSW Management Board identifies the probability of updating the amount of the recognized impairment losses.

The numerical estimates will be calculated in accordance with the provisions of IAS 36 and the Company will inform about the test results in a separate current report.

The recognition or reversal of impairment losses on the assets of individual cash-generating units will be included in JSW's interim condensed standalone financial statements and in the JSW Group's interim condensed consolidated financial statements for the six-month period ended 30 June 2024.

Any update of the impairment losses on the carrying amount will have a non-cash impact on JSW’s and JSW Group’s operating result [it will not affect the liquidity situation of the companies and the JSW Group].

Legal basis: Article 17 [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.