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Current Report No. 16/2018

  Investors Relations

Preliminary assessment of the repercussions of the shock wave in the rock mass in the Zofiówka Section on 5 May 2018 and its impact on JSW’s operating results in 2018

Body of the report:

The Management Board of Jastrzębska Spółka Węglowa S.A. (“JSW”, “Company”) hereby reports that on 15 May 2018 it conducted a preliminary assessment of the repercussions of the event related to the occurrence on 5 May 2018 of the autonomous, high-energy shock wave in the area under preparation for mining in Q3 of this year (“Event”). Accordingly, JSW notified its business partners of the occurrence of force majeure in accordance with the provisions of the pertinent commercial agreements.

The Company has identified the risk of coal production being down this year by a maximum quantity of 380 thousand tons as a result of the Event compared to the target coal production plan adopted by the Company in JSW’s Strategy incorporating the JSW Group’s Subsidiaries for 2018-2030.

At the same time, the Company’s Management Board reports that the Event might not exert an impact on the performance of its contractual obligations in connection with the coal inventories held on 31 March 2018 and the mine’s production capacities.

The full repercussions of the Event, including its impact on JSW’s economic position will be possible to estimate after the conclusions are presented by the Commission appointed by the State Mining Authority in Katowice.

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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