Subject:Consentof the JSW S.A. Management Board for redemption of JSW StabilizationClosed-end Investment Fund Investment Certificates

Bodyof the report:TheManagement Board of Jastrzębska Spółka Węglowa S.A. ["JSW", "Company"]hereby reports that today it adopted a resolutiontogrant its consent to the redemption of 34,359 series C and 103,077series G Investment Certificates of the JSW Stabilization Closed-endInvestment Fund ["FIZ"] with a total estimated amount of PLN 200.0million.

Theestimates are based on the valuation as of 4 June 2025 and may differfrom the actual values, which will be known only after the valuationmade on the respective redemption date.

Accordingto the information contained in this report and the information providedin Current Reports No. 63/2024, 1/2025, 6/2025, 9/2025, 15/2025 18/2025,26/2025, 34/2025, 37/2025 and 45/2025 the Management Board gave consentto the redemption of FIZ Investment Certificates with a total estimatedvalue of PLN 2.85 billion in 2025.

Afterthe redemption of the FIZ certificates mentioned in this report, thevalue of the investments in the FIZ asset portfolio according to thevaluation of 4 June 2025 after the redemption date is estimated atapprox. PLN 1.11 billion.

Atthe same time, the Company hereby reports that, in accordance with JSW'sArticles of Association, the decision on redemption of FIZ InvestmentCertificates requires the consent of the Company's Supervisory Board.JSW will report the fulfillment of this condition in a separate currentreport.

Theproceeds obtained from the redemption of FIZ Investment Certificateswill be used both for the Company's current operations and forinvestment activity.

FIZwas established by the Company to stabilize financial liquidity andcurtail the impact of the risk of volatility of coal and coke prices onmaintaining the continuity of the Group's operations and investments.

Atthe same time, the Company hereby reports that, in accordance with theprovisions of the syndicated Sustainability-linked loan agreement, theCompany will not recommend the payment of any dividends and profitdistributions unless the Company has not made any distributions from theFIZ in the 12 months preceding such recommendation. The Company'sfailure to perform this covenant constitutes an Event of Default underthe agreement. Accordingly, in the event of redemption of the InvestmentCertificates referred to in this current report, the Company will beobliged, for a period of 12 months after redemption, not to recommendthe payment of dividends and profit distributions.

Legalbasis:Article17[1] of Regulation [EU] No. 596/2014 of the European Parliament and ofthe Council of 16 April 2014 on Market Abuse and Repealing Directive2003/6/EC of the European Parliament and of the Council and CommissionDirectives 2003/124/EC, 2003/125/EC and 2004/72/EC.