JSW S.A.

Board/Management Information • May 11, 2022

Bodyof the report:

TheManagement Board of Jastrzębska Spółka Węglowa S.A. ("Company", "JSW")hereby reports that on 10 May 2022 the Company's Supervisory Boardadopted resolutions to appoint the following persons to the Company'sManagement Board in the 11th term of office:

1._#160;_#160;_#160;_#160;_#160;Mr.Tomasz Cudny to be President of the Management Board;

2._#160;_#160;_#160;_#160;_#160;Mr.Sebastiana Bartos to be Vice-President of the Management Board for Sales;

3._#160;_#160;_#160;_#160;_#160;Mr.Robert Ostrowski to be Vice-President of the Management Board forFinancial Matters;

4._#160;_#160;_#160;_#160;_#160;Mr.Edward Paździorko to be Vice-President of the Management Board forTechnical Matters;

5._#160;_#160;_#160;_#160;_#160;Mr.Artur Wojtków to the position of Vice-President of the Management Boardfor Employment and Social Policy.

Thepersons enumerated above will be appointed to the Company's ManagementBoard for its 11th term of office as of the date of holding JSW S.A.'sOrdinary Shareholder Meeting approving the Financial Statements ofJastrzębska Spółka Węglowa S.A. for the financial year ended 31 December2021 and the Management Board Report on the Activity of JastrzębskaSpółka Węglowa S.A. and the Jastrzębska Spółka Węglowa S.A. Group forthe financial year ended 31 December 2021.

Theforegoing persons do not conduct activity competitive to that of theCompany, nor are they involved in any competing company as a partner ina civil law company or partnership or as a member of a corporate body ofa capital company, nor do they participate in another competing legalperson as a member of its corporate body. In addition, they are notentered in the Register of Insolvent Debtors kept pursuant to theprovisions of the National Court Register Act and in the NationalRegister of Indebted Persons kept pursuant to the Act of 6 December 2018on the National Register of Indebted Persons.

Enclosedthe Company hereby conveys information about the education,qualifications, and prior positions held together with a description ofthe careers of the newly appointed Management Board members in the 11thterm of office.

Legalbasis:§5 Item 5 of the Regulation issued by the Finance Minister on 29 March2018 on the Current and Periodic Information Transmitted by SecuritiesIssuers and the Conditions for Recognizing the Information Required bythe Regulations of a Non-Member State as Equivalent.