Coal Energy S.A.

Earnings Release • May 16, 2022

April FY2022 production update

Current report no. 7/2022 Dated May 16, 2022

The Board of Directors of Coal Energy S.A. (the "Company") hereby provides update on coal production in April FY2022. The financial year 2022 of the Company commenced on the 1st July 2021 and will end on the 30th June 2022.

Total output in April FY2022 amounted to 1 605 tonnes (thermal coal), and decreased by 47.7% mo-m (output in March FY2022 amounted to 3 067 tonnes).

In April, thermal coal was mined during periods when there was no threat to the life and health of the Company's employees. The company is looking for opportunities to resume coal mining if there is no threat to the life and safety of mine's employees.

As of the day of this report Company's assets did not incur any damages from on-going military activities in Ukraine.

Signatures of individuals authorized to represent the Company:

Elena Belousova

Legal grounds: Art. 56 of the Polish Act of 29 July 2005 on the public offering, conditions governing the introduction of financial instruments to organized trading system and on public companies, and the Luxembourg Act of 11 January 2008 on transparency obligations of securities issuers, as amended.