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Current Report No. 26/2024

Distribution of profit

JSW S.A. Management Board’s recommendation regarding distribution of profit for 2023

Body of the Report:

The Management Board of Jastrzębska Spółka Węglowa S.A. ["Company", "JSW S.A."] hereby reports that on 14 May 2024, taking into account the Company's overall standing, as well as the provisions of the loan agreements received from the Polish Development Fund [Current Report No. 40/2020 and Current Report No. 41/2020] and the rules and regulations for applying for participation in the government program "Polish Development Fund’s Financial Shield for Large Companies", it adopted a resolution on a motion to the JSW S.A. Shareholder Meeting regarding the distribution of the Company's net profit for the financial year ended 31 December 2023.

In accordance with the adopted resolution, the JSW S.A. Management Board moves to the Company's Shareholder Meeting to allocate the Company's net profit for the financial year ended 31 December 2023 in the amount of PLN 1,387,200,450.44 [one billion three hundred eighty-seven million two hundred thousand four hundred fifty and 44/100 Polish zloty] for:

  • covering the loss arising in "Other comprehensive income" in the amount of PLN 63,406,411.00 [sixty-three million four hundred six thousand four hundred eleven and 00/100 Polish zloty],
  • the Company's supplementary capital in the amount of PLN 1,323,794,039.44 [one billion three hundred and twenty-three million seven hundred and ninety-four thousand thirty-nine and 44/100 Polish zloty].

In addition, the Company hereby reports that the motion regarding the recommended allocation of net profit for 2023 will be submitted to the Company's Supervisory Board for an opinion in accordance with Article 382 § 3 of the Commercial Company Code, and the final decision on the allocation of profit will be made at the next Ordinary Shareholder Meeting.

Legal basis: Article 17(1) of the Market Abuse Regulation - confidential information.

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