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 Coke Segment in accordance with the provisions of IAS 36 Impairment of Assets.

The results of these tests indicate impairment of non-current assets in the Coke Segment, i.e. the assets of the Jadwiga Coking Plant, the Przyjaźń Coking Plant and the Radlin Coking Plant totaling PLN 1,194.6 million. The recognition of this impairment loss will reduce the operating result of JSW KOKS S.A. and of the Group; however, it will not affect the liquidity position.

As a consequence of the foregoing, JSW, as the major shareholder of JSW KOKS S.A., hereby reports on the conducted impairment test for financial assets, i.e. the shares in JSW KOKS S.A. The result of the test conducted by JSW indicates a total loss of the net value of the shares in JSW KOKS S.A. in JSW’s accounting ledgers totaling PLN 148.8 million. The recognition of this impairment loss will reduce JSW’s operating result; however, it will not affect its liquidition position.

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 test does not affect the operations of JSW and the Group, including the payment of trade liabilities. The Company will report on the completion of the asset impairment tests in the Coal Segment under a separate current report.

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.