Legal Basis: Article 56 Section 1 Item 2 of the Act on Offerings – current and periodic information

Body of the Report:

The Management Board of Jastrzębska Spółka Węglowa S.A. (“Company”, “JSW”) hereby informs that on 17 April 2012 the Company’s Supervisory Board adopted a resolution on its assessment, for the JSW S.A. Shareholder Meeting, of the JSW S.A. Management Board’s motion on the distribution of the Company’s profit for 2011, as announced by the Company in Current Report No. 23/2012. According to the said resolution, the Company’s Supervisory Board:

1.    Issues a positive assessment of the following manner of distribution of the Company’s net profit for 2011, as proposed by the JSW S.A. Management Board, in the amount of PLN 1,955.5 million:

a)  distribute PLN 631.7 million to the Company’s shareholders as a dividend, i.e. PLN 5.38 per share;

b)  distribute PLN 130.0 million as payment to JSW’s employees, inclusive of related burdens;

c)  transfer the remaining amount of PLN 1,193.8 million to reserve capital for the purposes of financing the Company’s investment program.

2.    Furthermore, the Company’s Supervisory Board issues a positive opinion on the date of 6 July 2012 proposed by the Company’s Management Board as the date of establishment of the rights to the dividend and 24 July 2012 as the date of payment of the dividend.

The final decision on the distribution of profit for the financial year 2011 will be made by the Company’s Ordinary Shareholder Meeting.

Legal Basis:

§ 38 Section 1 Item 11 of the Regulation issued by the Finance Minister on 19 February 2009 on the Current and Periodic Information Transmitted by Securities Issuers and the Conditions for Recognizing the Information Required by the Regulations of a Non-Member State as Equivalent.