Body of the report:

The Management Board of Jastrzębska Spółka Węglowa S.A. (“Company”, “Issuer”) hereby announces that on 7 September 2015, ING Bank Śląski S.A. (“ING”) effectively delivered its demand (in accordance with the provisions of the Program defined below) regarding early redemption of the bonds held by ING with the total nominal value of PLN 26,260,000 and the total nominal value of USD 12,950,000 USD (“Demand”) issued under the Bond Issue Program Agreement for PLN 700 million and USD 163.75 million (“Program”) entered into on 30 July 2014 by the Company with PKO BP S.A., BGK, ING and PZU FIZAN BIS 1 (jointly “Bondholders”).

In the Demand ING set the date of the early redemption for 21 September 2015. Pursuant to the terms and conditions of the Program, an early redemption should be effected through payment of the aforementioned nominal amounts of the bonds, plus interest calculated up to, but excluding, the date of the early redemption, specified in the Demand in the following amounts: PLN 280,062.90 (for PLN-denominated bonds) and USD 99,909.25 (for USD-denominated bonds), respectively, without any additional related costs or commissions.

The Company recently published information, among others in current report 37/2015, about each Bondholder’s right to demand early redemption of its bonds due to the Company’s failure to issue bonds on international capital markets by 30 July 2015 and about the resulting on-going process of arrangements with the Bondholders, under which the Company asked each of the Bondholders to refrain from exercise of the right to demand early redemption until 1 October 2015.