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Talks with the trade unions are underway

JSW S.A. hereby reports that on 16 October another meeting was held with representatives of representative trade union organizations operating in the Company. Its purpose was to try to work out a framework for agreement on adjusting labor costs to the Company's current capabilities.

The talks are of a working nature. Possible options and cost analyses are being presented, but no decisions or arrangements have yet been made at this stage.

The Management Board remains committed to constructive dialogue and is in constant contact with the trade unions. The aim of the ongoing talks is to find such solutions that, taking into account market realities, will allow JSW to operate stably in the coming months.

At a later stage, meetings with representatives of all trade union organizations operating in JSW are planned. The Company will keep the public informed of their progress and key arrangements made, both through internal communications and official communication channels.

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