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Current Report No. 10/2018

  Investors Relations

Continuation of coking coal sales cooperation with ArcelorMittal

Body of the report:

The Management Board of Jastrzębska Spółka Węglowa S.A. (“JSW”) hereby reports that on 19 March 2018 a coking coal sales 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 ArcelorMittal Poland S.A. with its registered office in Dąbrowa Górnicza and ArcelorMittal Ostrawa A.S. with its registered office in Ostrava (acting in the Agreement as the “Buyer”).

The Agreement was entered into for a period of 3 years, from 1 January 2018 to 31 December 2020, with an automatic renewal option beyond 2020, every year by one year, from 2018 up to 2027. The Agreement will be subject to renewal for another year upon agreeing on the quality and quantity structure, unless one of the parties terminates it. In the three-year term of the Agreement, its estimate value will total PLN 4.5 billion. After 2020 the estimate annual value of the Agreement may amount to approx. PLN 1.5 billion.

Based on the Agreement, annual agreements will be entered into. Their detailed pricing conditions will be agreed upon quarterly. The remaining provisions of the Agreement are standard for this type of agreements.

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.

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