Body of the report:

The Management Board of Jastrzębska Spółka Węglowa S.A. ["Issuer"] hereby reports that on 18 June 2025, a subsidiary of the Issuer, i.e. Przedsiębiorstwo Budowy Szybów S.A. ["PBSz"] concluded with KGHM Polska Miedź S.A. an annex to the agreement of 20 December 2021 ["Annex"] concerning the execution of roadway excavations, mining works and provision of technical infrastructure securing the progress of preparatory roadway works. The term of the agreement in question was set for 31 December 2025.

Under the Annex, the term of the agreement was extended until 31 December 2029 and the total maximum value of the remuneration payable to PBSz under the agreement was increased from PLN 384 million net to PLN 1,080 million net. According to the Annex, the new remuneration limits are as follows:

- in 2022-2024: PLN 292 million net,
- in 2025: PLN 145 million net,
- in 2026-2029: PLN 643 million net.

The final value of the annexed agreement will depend on, among other things, the type and technology of excavation, the type of supports used, the average route of stone and excavated material transport, and the scope of the contracted work.

The concluded Annex is important from the point of view of the JSW Group's strategy of diversifying its revenue sources and strengthening PBSz's position as a key mining contractor in Poland.

The Issuer did not report on the originally concluded agreement as it did not meet the criterion of materiality at the date of its conclusion.

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.