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JSW S.A.

Capital/Financing Update Jul 20, 2022

5664_rns_2022-07-20_3860c693-030d-4546-a9f3-5466a95895ba.html

Capital/Financing Update

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Subject:Consent of theJSW S.A.Supervisory Board to issue series E Investment Certificates of the JSWStabilization Closed-End Investment Fund

Body of the report:

Inreference to current report no. 33/2022 the Management Board ofJastrzębska Spółka Węglowa S.A. ("JSW", "Company") reports that todaythe Company's Supervisory Board adopted a resolution to endorse theManagement Board's motion and consent to invest funds worth up to PLN1.0 billion (say: one billion Polish zloty) in the JSW StabilizationClosed-End Investment Fund as part of the liquidity sub-portfolio.

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