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Current Report No. 42/2021

Execution of an agreement on the free-of-charge transfer of a designated part of the Jastrzębie III mine to Spółka Restrukturyzacji Kopalń S.A.

Body of the report:

In reference to Current Report no. 36/2021, the Management Board of Jastrzębska Spółka Węglowa S.A. hereby reports that on 31 December 2021 an agreement was signed by and between JSW and Spółka Restrukturyzacji Kopalń S.A. in Bytom (“SRK”) on the free-of-charge transfer of an organized part of the enterprise of JSW S.A. in the form of the “Jastrzębie III” Mining Area of KWK Jastrzębie-Bzie (“OPE”). The Company had obtained an approval for the transaction from, respectively, the JSW Supervisory Board, expressed in its resolution of 1 December 2021, and the JSW Shareholder Meeting, expressed in its resolution of 29 December 2021.

The above agreement was signed on the basis of the procedure prescribed by the Act of 7 September 2007 on the Functioning of the Hard Coal Mining Industry.

The disposal of the OPE by JSW is an effect of the measures taken to optimize the Company’s operations in connection with the phasing out of mining operations in the Jastrzębie III mining area as well as a headcount reduction with the use of state budget funds prescribed by the aforementioned act, which will contribute to the improved efficiency of JSW’s operations.

As a result of the OPE disposal agreement, a total of 2148 people will be transferred to SRK, including the group of 1234 employees previously taken over by JSW from other mining companies listed in the social contract for the transformation of the hard coal mining sector. The takeover of these people by JSW and then their transfer to SRK will not generate any employment costs on the part of the Company and will also not result in savings future periods.

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

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