JSW S.A.

Earnings Release • Mar 25, 2024

Subject:Estimatedconsolidated financial results of the JSW Group for 2023

Body of the report:

TheManagement Board of Jastrzębska Spółka Węglowa S.A. [_quot;JSW_quot;, the_quot;Company_quot;] hereby reports that on 25 March 2024 it was informed of theestimated consolidated financial results of the JSW Group for 2023 anddecided to make them public.

Estimatedconsolidated financial results of the JSW Group for 2023:

- Salesrevenues: PLN15,338.5 million,

- Gross profit onsales: PLN 3,847.8 million,

- Operating profitplus depreciation and amortization (EBITDA): PLN 4,555.9 million,

- Net profit: PLN997.1 million.

At thesame time, with reference to the published current reports on the JSWGroup's operating activities in the individual quarters of 2023 (CurrentReport No. 10/2023, Current Report No. 15/2023, Current Report No.23/2023 and Current Report No. 2/2024), the Company's Management Boardhereby reports that in 2023:

_#160;- Totalcoal production was 13.51 million tons,

_#160;-Coking coal production was 10.88 million tons,

_#160;- Steamcoal production was 2.63 million tons,

_#160;- Totalcoke production was 3.35 million tons.

Thefinancial results presented are estimates obtained in the preparation ofthe 2023 consolidated financial statements and are subject to change.The final financial results for 2023 will be presented in detail in theJSW Group's Consolidated Report for 2023, scheduled for publication on23 April 2024.

Legalbasis:Article 17 Section 1 of Regulation [EU] No. 596/2014 of the EuropeanParliament and of the Council of 16 April 2014 on Market Abuse andRepealing Directive 2003/6/EC of the European Parliament and of theCouncil and Commission Directives 2003/124/EC, 2003/125/EC and2004/72/EC.