Body of the report:

In reference to Current Report No. 103/2025 the Management Board of Jastrzębska Spółka Węglowa S.A. ["JSW", "Company"] hereby reports that it has completed non-current assets impairment tests in the coal segment in accordance with the provisions of IAS 36 Impairment of Assets. 

The JSW Management Board has approved the recognition of an impairment loss for the following mine assets, to be recorded as an expense in Q4 2025:

(i) KWK Budryk, in the amount of approx. PLN 322.0 million,

(ii) KWK Knurów-Szczygłowice, in the amount of approx. PLN 904.8 million,

(iii) KWK Borynia-Zofiówka, Zofiówka Section in the amount of approx. PLN 823.2 million,

and has also approved the reversal of an impairment loss for KWK Pniówek’s assets in the amount of approx. PLN 733.9 million, to be recorded as revenue in Q4 2025.

In addition, the JSW Management Board hereby reports that it has approved the recognition and recording in the accounts, as at 31 December 2025, of an impairment loss for a receivable from JSW KOKS S.A. in the amount of approx. PLN 301.5 million, recognized in accordance with the provisions of IFRS 9 Financial Instruments.

The Company reports that the values presented above are estimates and subject to change, and the final amounts will be duly presented in JSW’s annual standalone financial statements and in the JSW Group’s annual consolidated financial statements for the financial year ended 31 December 2025.

The conducted asset impairment tests do not affect the operations of JSW and the Group, including the payment of trade liabilities. 

Legal basis: Article 17(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.