Body of the report:

The Management Board of Jastrzębska Spółka Węglowa S.A. ["JSW", "Company"] with reference to Current Report No. 39/2024, hereby reports that it has revised the basic operating assumptions for 2024.

In view of the above, the JSW Management Board announces an updated operating target for coal production in 2024, which has been set at 12,45 million tons.

The revised volume of coal production takes into account the lack of improvement in the composition of the atmosphere in the area of longwall N-10 in seam 404/4 at KWK Pniówek, as a consequence of which there is no possibility of eliminating the fire field and launching the mining in the longwall this year. In addition, the increased intensity of combined natural hazards [methane, fire, water, bump, caving] and the limited possibility of selecting effective prevention measures lead to reduced mining progress of the longwalls, delaying their commissioning and, in extreme cases, the need for early decommissioning [loss of part of the resources].

In addition, coal production in 2024 is affected by unforeseen difficulties during the decommissioning of longwall F-1 in seams 408/2 and 408/2-3 during the dismantling of powered support sections resulting in a delay in the start-up of longwall F-3 in seams 408/2 and 408/1-2 at KWK Borynia-Zofiówka-Bzie, Zofiówka Section, as well as an increased level of impurities in the excavated material at KWK Pniówek, limiting the net capacity of the Coal Preparation Plant, resulting in part from the actions taken by the mine related to the need to quickly rebuild the mining front after the fire in December 2023.

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.