JSW S.A. — Capital/Financing Update 2022

Jul 20, 2022

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.