Current report

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Current Report No. 27/2022

Investment in the JSW Stabilization Closed-End Investment Fund as part of the issue of Series D Investment Certificates

Body of the report:

The Management Board of Jastrzębska Spółka Węglowa S.A. („JSW”, „Company”) reports that today it adopted a resolution to invest an amount not to exceed PLN 1.0 billion in the JSW Stabilization Closed-End Investment Fund (“Fund”) as part of the issue of Series D Investment Certificates and purchase Investment Certificates for an amount not to exceed PLN 1.0 billion.

The purpose of Fund is to stabilize current liquidity and mitigate the impact exerted by the coal and coke price volatility risk and is designated for maintaining the continuity of the JSW Group’s operational and investment activity.

Since this Fund is a cash buffer for JSW to cover the Company’s financial needs during market downturns, information about investing substantial financial means in this fund has been deemed to be material.

At the same time, the Company reports that the activity described above in accordance with the clauses of JSW Shareholder Meeting resolution no. 5 adopted on 3 June 2022 requires the consent of the Company’s Supervisory Board and of the Fund’s Investor Meeting.

Legal basis: Article 17 Section 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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