Slides
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Results of the JSW Group for H1 2026 September 2026
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Disclaimer This presentation has been prepared by Jastrzębska Spółka Węglowa S.A. (“Company”). The contents of this Presentation have been prepared with due diligence based on the facts and information from the sources deemed reliable by the Company. This presentation is for information only and should not be treated as investment advice. The recipients of this Presentation bear the sole responsibility for their own market analyses and assessments as well as of the market position of the Company or the JSW Group and the potential results of the Company or the JSW Group in the future, made on the basis of information in the Presentation. The Company is not liable for any loss arising from the use of this Presentation or its contents, or arising in any other way in relation to this Presentation. This presentation does not constitute an offer or invitation to buy or sell the Company’s securities. Some representations in this Presentation may be projections or forecasts prepared on the basis of the current views and assumptions of the Company’s Management Board and incorporate known and unknown types of risk and a certain level of uncertainty. The actual results, accomplishments and events may materially differ from the data directly included or implied in these representations in connection with changes to the conditions prevailing on global capital and credit markets or economic conditions, especially in those territories where the JSW Group operates. It should not be construed as a forecast of the future performance of the Company or the JSW Group. The Company is not obligated to provide the recipients of this Presentation with any additional information or updates to this Presentation. In no event should one deem the information in this Presentation to be an explicit or implicit representation or warranty of any type by the Company. The Company draws the attention of the persons reviewing this Presentation to the fact that the sole credible source of data concerning the Company’s financial results, as well as forecasts, events and ratios applying to it, are the current and periodic reports published by the Company. Due to the fact that PBSz’s activity in the 6-month period ended 30 June 2026 was recognized as discontinued operations, pursuant to IFRS 5, the individual line items of the statement of profit or loss and other comprehensive income for the 6-month period ended 30 June 2025 were restated. Details in Note 2.5 of the Interim Condensed Consolidated Financial Statements of the Jastrzębska Spółka Węglowa S.A. Group for the period of 6 months ended 30 June 2026. 2
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3 Agenda Section Title Presented by I. Introduction Bogusław Oleksy II. JSW Group in numbers Bogusław Oleksy III. Business Restructuring of the JSW Group Bogusław Oleksy IV. JSW Group’s operating results Adam Rozmus V. Market environment Jolanta Gruszka VI. JSW Group’s investments Adam Rozmus VII. JSW Group’s financial highlights Bogusław Oleksy VIII. Q&A JSW S.A. Management Board
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Average price of coking coal and coke Coke production Coal production Net result PLN (427.5) m vs. PLN (615.9) m in Q1 2026 4 672.0 thous. t vs. 754.0 thous. t in Q1 2026 767.40 PLN/t (coal) vs. 722.39 PLN/t in Q1 2026 993.58 PLN/t (coke) vs. 923.58 PLN/t in Q1 2026+7.6% 3,225.9 thous. t vs. 3,235.7 thous. tons in Q1 2026 -0.3% +6.2% -10.9% -25.2% JSW Group in numbers Q2 2026 vs. Q1 2026 PLN 576.2 m vs. PLN 803.1 m in Q1 2026 CAPEX** 587.27 PLN/t vs. 631.19 PLN/t in Q1 2026 MCC Sales | revenues PLN 2,246.8 m vs. PLN 2,097.0 m in Q1 2026 EBITDA* PLN 51.8 m vs. PLN (192.4) m in Q1 2026 +7.1% -28.3% * EBITDA (net of non-recurring events – the value of the non-recurring events was PLN 49.7 million in Q1 2026) ** net of consolidation eliminations -7.0% +30.6%
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JSW Group’s operating results
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Coal and coke production Coal production [000 tons] Steam coal Coking coal Done by external companies Done by our own staff 6 Corridor works [running meters] Active longwalls [number] Coke production [000 tons] 754.0 672.0 1,410.6 1,426.0 Q1 2026 Q2 2026 H1 2025 H1 2026 +1.1% 2,781.5 2,760.6 5,135.9 5,542.1452.2 465.3 1,064.0 919.5 3,235.7 3,225.9 6,199.9 6,461.6 Q1 2026 Q2 2026 H1 2025 H1 2026 +4.2% 22.2 20.3 19.9 21.3 Q1 2026 Q2 2026 H1 2025 H1 2026 +7.0% 14,888.4 12,694.4 28,799.3 27,582.8 2,038.2 1,917.6 5,708.9 3,955.816,926.6 14,612.0 34,508.3 31,538.6 Q1 2026 Q2 2026 H1 2025 H1 2026 -8.6% 2026 Target Total coal production was 13.3 m tons 2026 Target Coke production 3.3 m tons Total -10.9% -0.3% -8.6% -13.7%
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Market environment
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Source: World Steel Association, Platts, C&AMR, McCloskey Market trends Ratio comparison Q2 2026 vs. Q1 2026 Q1 2026 Q2 2026 662.0 600.4692.5 651.9 Steel prices on the European market - HRC Steel prices on the European market – rods Steel prices on the European market [EUR/t] Steel production [m tons] 459.2 31.7 472.3 33.7 World EU 234.7 146.0 238.3 143.8 Premium Low Vol Semi-soft Coking coal spot prices* [USD/t] Coke prices** [USD/t] 277.9 214.6 317.7 248.7 Blast furnace coke - quotes in ARA ports Blast furnace coke - prices of Chinese coke (CSR change from 64/62 to 62/60 since 1 Jan 2026) * taking into account the quotations affecting JSW’s prices in the quarter (the average price from the period from January 2026 to May 2026), the increase in the average reference price for coking coal in Q2 2026 versus Q1 2026 was 9% (PLV: USD 235 in Q2 2026; USD 215 in Q1 2026). ** JSW coke prices are set on a market basis at the end/beginning of quarters, taking into account the prices from the previous period. In Q2 2026, the increase in the reference price (based on the Q1 2026 prices) vs. the Q1 2026 reference price (which is based on Q4 2025 prices) was less than 15% (USD 278 in Q1 2026 vs. USD 242 in Q4 2025). 8
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Prices of JSW’s products in relation to market prices Source: Platts, McCloskey, ARP, www.polskirynekwegla.pl * The 5-month average of the Premium Low Vol price covers the previous quarter and two first months of the current quarter 186 183 188 215 235 182 178 182 200 210 98% 97% 97% 93% 89% Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Ceny węgla koksowego JSW w relacji do notowań Premium Low Vol [USD/t] - JSW prices in relation to: coking coal – PLV, steam coal – PSCMI 1, coke – blast-furnace coke in ARA portsxx% 5-month average PLV price* Average price for JSW’s coking coal 261 242 227 242 278 220 194 201 220 215 276 253 243 255 272 106% 104% 107% 105% 98% Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 JSW’s coke prices in relation to prices of blast-furnace coke in ARA ports [USD/t] Average price of blast-furnace coke in ARA ports (Q-1*) Average price of blast furnace coke on the Chinese market 62/60 CSR (Q-1*) Average total contract price for coke in the JSW Group Average PSCMI 1 prices (Polish Steam Coal Market Index Prices) JSW’s average steam coal prices 352 331 322 308 302 307 276 301 267 350 87% 83% 93% 86% 116% Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 * coke prices are set at the turn of each quarter in order to reflect the market terms of the negotiations. The optimal approach is to compare the prices obtained in the respective quarter with the average quotations from the previous quarter. JSW steam coal price in relation to PSCMI 1 prices [PLN/t] 100 150 200 250 300 Jan-25 Feb-25Mar-25 Apr-25 May-25 Jun-25 Jul-25 Aug-25 Sep-25 Oct-25 Nov-25 Dec-25 Jan-26 Feb-26Mar-26 Apr-26 May-26 Jun-26 Premium Low Vol coal spot prices January 2025 – June 2026 [USD/t] Quotations affecting JSW prices in Q2 2026 9
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Sales of coal produced in the JSW Group Sales of coal to external customers [000 tons] Sales of coal to internal customers [000 tons] Average selling price of coal to external customers [PLN/t] Revenues on sales of coal to external customers* [PLN m] Steam coal Coking coal * This figure takes into account the Group’s revenues from coal sales (including the coal produced by other entities) and the adjustment of sales revenues on account of realization of hedging transactions 722.39 767.40 714.51 745.35 266.53 349.62 309.70 312.41 Q1 2026 Q2 2026 H1 2025 H1 2026 1,435.0 1,494.1 3,233.6 2,929.1454.4 560.5 900.6 1,014.9 1,889.4 2,054.6 4,134.2 3,944.0 Q1 2026 Q2 2026 H1 2025 H1 2026 1,039.8 1,146.6 2,320.3 2,186.4121.1 196.0 278.9 317.1 1,160.9 1,342.6 2,599.2 2,503.5 Q1 2026 Q2 2026 H1 2025 H1 2026 1,053.0 920.4 1,873.1 1,973.4 1,053.0 920.4 1,873.1 1,973.4 Q1 2026 Q2 2026 H1 2025 H1 2026 10 Total +0.9% +4.3% -4.6% +5.4% +8.7% -12.6% +31.2% +6.2%
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923.58 993.58 1,045.89 956.60 Q1 2026 Q2 2026 H1 2025 H1 2026 769.4 687.0 1,479.6 1,456.4 Q1 2026 Q2 2026 H1 2025 H1 2026 Sales of coke to external customers [000 tons] Revenues on sales of coke and hydrocarbons to external customers* [PLN m] Sales of coke produced in the JSW Group Average coke sales price [PLN/t] 816.7 803.0 1,771.0 1,619.7 Q1 2026 Q2 2026 H1 2025 H1 2026 * includes the adjustment of sales revenues on account of realization of hedging transactions 11
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Inventories of coal and coke produced in the JSW Group 9.5 203.8 157.1 148.5 132.3 30.06.2025 30.09.2025 31.12.2025 31.03.2026 30.06.2026 Coke inventory as at [000 tons] Coal inventory as at [000 tons] 1,545.7 1,322.9 1,039.5 1,328.9 1,561.6 30.06.2025 30.09.2025 31.12.2025 31.03.2026 30.06.2026 12 Total coal inventory is comprised of: • operational reserve in mines required for scheduled shipments • technological reserve in coking plant necessary for safe operation of coke oven batteries • coal inventory constituting collateral for financial transactions The inventory of coke is comprised of: • operational reserve in coking plants required for scheduled overland shipments • operational reserve in ports required for scheduled ocean shipments -10.9%
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13 JSW Group’s investments
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40.7 107.0 106.2 147.7 Q1 2026 Q2 2026 H1 2025 H1 2026 630.5 532.0 1,901.3 1,162.5 Q1 2026 Q2 2026 H1 2025 H1 2026 JSW Group’s investments Capital expenditures in the JSW Group* Accrual basis [PLN m] Investment cash outflows in the JSW Group** Cash basis [PLN m] 739.0 410.5 1,640.7 1,149.540.7 107.0 106.2 147.7 23.4 58.7 72.6 82.1 803.1 576.2 1,819.5 1,379.3 Q1 2026 Q2 2026 H1 2025 H1 2026 Coal segment Coke segment Other segments 14 * net of consolidation eliminations ** capital expenditures include the purchase of property, plant and equipment, intangible assets and lease payments *** expenditures on property, plant and equipment, intangible assets, investment properties and borrowing costs 420.8 131.4 884.9 552.2154.2 157.6 398.8 311.8130.4 94.4 263.5 224.833,6 27,1 93,5 60,7739.0 410.5 1,640.7 1,149.5 Q1 2026 Q2 2026 H1 2025 H1 2026 Capital expenditures for property, plant and equipment*** Expenditures on expensable mining pits Longwall outfitting expenditures Expenditures related to leases Total Capital expenditures in JSW KOKS Accrual basis [PLN m] Capital expenditures in JSW Accrual basis [PLN m] 2026 Target JSW CAPEX: PLN 1.9 bn
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JSW Group’s financial highlights
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(192.4) 51.8 (921.4) (140.6) (238.6) 2.1 (1,648.6) (236.5) Q1 2026 Q2 2026 H1 2025 H1 2026 (615.9) (427.5) (2,075.1) (1,043.4) Q1 2026 Q2 2026 H1 2025 H1 2026 (200.2) (1,472.5) (3,997.3) (4,836.1) (5,262.1) 30.06.2025 30.09.2025 31.12.2025 31.03.2026 30.06.2026 Sales revenues Net working capital (incl. FIZ) EBITDA net of non-recurring events Net result JSW Group’s financial highlights [PLN m] xx.x EBITDA 16 2,097.0 2,246.8 4,612.1 4,343.8 Q1 2026 Q2 2026 H1 2025 H1 2026 -5.8% The value of non-recurring events in Q2 2026 amounted to PLN 49.7 million +7.1%
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2,097.0 2,246.8 42.7 67.3 28.3 46.6 (76.1) 48.1 (7.1) Q1 2026 Impact of coking coal sales volume Impact of coking coal price change Impact of steam coal sales volume Impact of steam coal price change Impact of coke sales volume Impact of coke price change Impact of revenues from other sales Q2 2026 Change in sales revenues of the JSW Group [PLN m] 17
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416.4 342.1 726.9 758.5 449.0 347.9 1,227.7 796.9267.0 222.5 492.3 489.5 545.6 477.8 1,227.6 1,023.41,447.9 1,376.9 3,523.4 2,824.8 105.6 110.6 254.7 216.2 3,231.5 2,877.8 7,452.6 6,109.3 Q1 2026 Q2 2026 H1 2025 H1 2026 Depreciation and amortization Materials Energy External services Employee benefits Other costs by nature JSW Group’s expenses by nature [PLN m] 18 -18.0% The steepest decline in Q2 2026 vs. Q1 2026 was recorded in the following items: Employee benefits (PLN -71.0 m), Materials (PLN -101.1 m), External services (PLN -67.8 m), Depreciation and amortization (PLN -74.3 m). Total -10.9%
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3,231.5 2,877.8(67.8) 5.0 (74.3) (101.1) (44.5) 71.0 Q1 2026 Depreciation and amortization Consumption of materials Consumption of energy External services Employee benefits Other costs by nature Q2 2026 Cost change drivers, by type, in the JSW Group [m PLN] 19
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Mining Cash Cost Cash Conversion Cost 20 Mining Cash Cost [PLN m] xx.xx Unit Mining Cash Cost [PLN/t] Cash Conversion Cost [PLN m] Unit Cash Conversion Cost [PLN/t] Unit Mining Cash Cost [PLN/t] Unit Cash Conversion Cost [PLN/t] xx.xx 274.16 328.08 34.08 19.84 Q1 2026 Impact of expenses Impact of volume Q2 2026 2,042.3 1,894.5 4,821.9 3,936.8 631.19 587.27 777.73 609.26 Q1 2026 Q2 2026 H1 2025 H1 2026 -21.7% 631.19 587.27 1.92(45.84) Q1 2026 Impact of expenses Impact of volume Q2 2026 206.7 220.0 519.1 426.7 274.16 328.08 367.98 299.54 Q1 2026 Q2 2026 H1 2025 H1 2026 -18.6% 2026 Target MCC 588 PLN/t +19.7% -7.0%
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631.19 587.27 (19.65) (24.87) (0.81) 0.13 (0.64) 1.92 Q1 2026 Consumption of materials and energy External services Employee benefits Taxes and charges Other costs by nature Impact of volume Q2 2026 21 Unit Mining Cash Cost [PLN/t]
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22 Unit Cash Conversion Cost [PLN/t] 274.16 328.08 (4.15) 9.41 0.69 34.08 0.66 1.31 12.39 0.03 (0.50) Q1 2026 Consumption of materials net of coal feedstock Consumption of energy External services net of transport costs of coal feedstock Employee benefits Taxes and charges Other costs by nature Administrative expenses less depreciation and amortization Selling and distribution expenses less depreciation and amortization attributable to selling and distribution expenses Impact of volume Q2 2026
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(238.6) 2.1 51.8(172.7) (74.3) 353.7 49.7 184.9 (28.0) (7.1) (63.7) 47.9 EBITDA Q1 2026 Impact of coal sales volume and price Impact of coke sales volume and price Other sales Impact of expenses by nature Impact of impairment of non-financial non- current assets Impact of the result of other activities Other Impact of depreciation and amortization costs EBITDA Q2 2026 Non-recurring events Q2 2026 EBITDA Q2 2026 net of non-recurring events JSW Group’s EBITDA drivers [PLN m] 23
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(238.6) 2.1 51.8 295.3 27.5 5.9 49.7(88.0) EBITDA Q1 2026 Change in coal segment EBITDA Change in coke segment EBITDA Change in other segment EBITDA Change in EBITDA of consolidation eliminations EBITDA Q2 2026 Non-recurring events Q2 2026 EBITDA Q2 2026 net of non-recurring events Contribution of segments to EBITDA change in JSW Group [m PLN] 24
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As at 30 June 2026 1,204.7 (5,262.1) 1,539.3 256.3 303.9 5,248.2 342.1 413.2 996.9 1.9 117.1 270.6 249.7 Inventories Trade and other receivables Income tax overpaid Cash and cash equivalents FIZ Other current assets Loans and borrowings Employee benefit liabilities Lease liabilities Trade and other liabilities Current provisions Other current liabilities Net working capital (incl. FIZ) Net working capital (incl. FIZ) of the JSW Group [PLN m] 25
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234.4 117.1 (290.6) (105.3) (3.8) 243.6 (137.2) (251.5) (20.0)) (36.8) 142.2 342.1 Cash at the end of 31.03.2026 Profit/(loss) before tax* Depreciation and amortization Change in inventories Change in trade and other receivables Change in trade and other liabilities Other operating cash flows* Investing cash flows Repayment of loans and borrowings Lease payments Other financing cash flows and FX differences Cash at the end of 30.06.2026 JSW Group's cash flows [PLN m] * For presentation purposes, the impact of impairment loss of PLN (103.6) million was excluded due to its non-cash nature 26
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Q&A
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Appendices
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29 Impact of non-recurring events on EBITDA of the JSW Group [PLN m] Q1 2026 Q2 2026 H1 2025 H1 2026 Sales revenues 2,097.0 2,246.8 4,612.1 4,343.8 EBIT (655.0) (340.0) (2,375.5) (995.0) EBITDA (238.6) 2.1 (1,648.6) (236.5) Impact of non-recurring events on results 46.2 49.7 727.2 95.9 reversal of the provision for employee benefits in connection with the payment of safety net benefits (59.0) (59.0) recognition of impairment loss allowance for non-financial non-current assets 40.7 108.8 661.1 149.5 reversal of the impairment loss allowance for non-financial non-current assets (0.8) (5.2) (19.6) (6.0) severance pay on account of the termination of employment of employees electing one-off cash severance, financed by JSW 14.5 14.5 provision for reimbursement of CO₂ emission allowances (3.4) 40.5 (3.4) costs of incidents in JSW's mines 1.1 2.9 42.6 4.0 costs related to the incident at the Przyjaźń Coking Plant 0.2 0.3 0.8 0.5 capitalized costs of non-operational longwall areas in KWK Pniówek 1.0 2.0 1.0 compensation received in connection with the fire in KWK Budryk in 2024 5.0 (10.0) (5.0) compensation received in connection with the electronic equipment fire at JSW Nowe Projekty (0.2) (0.2) update on the cost of the one-time award at JSW (0.2) EBITDA (w/o non-recurring events) (192.4) 51.8 (921.4) (140.6)
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Production, external sales, inventories of coal and coke produced in the JSW Group [000 tons] 30 Q1 2026 Q2 2026 H1 2025 H1 2026 Change Change Q2 2026 / Q1 2026 H1 2026 / H1 2025 Coking coal production 2,781.5 2,760.6 5,135.9 5,542.1 -0.8% 7.9% Steam coal production 454.2 465.3 1,064.0 919.5 2.4% -13.6% Coke production 754.0 672.0 1,410.6 1,426.0 -10.9% 1.1% External sales of coking coal 1,435.0 1,494.1 3,233.6 2,929.1 4.1% -9.4% External sales of steam coal 454.4 560.5 900.6 1,014.9 23.3% 12.7% External sales of coke 769.4 687.0 1,479.6 1,456.4 -10.7% -1.6% Inventory of coking coal produced in the Group 1,247.2 1,469.7 597.8 1,469.7 17.8% 145.9% Inventory of steam coal produced in the Group 81.7 91.9 947.9 91.9 12.5% -90.3% Inventory of coal produced in the Group 1,328.9 1,561.6 1,545.7 1,561.6 17.5% 1.0% Inventory of coke produced in the Group 148.5 132.3 89.5 132.3 -10.9% 47.8%
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Mining Cash Cost [PLN m] 31 Q1 2026 Q2 2026 H1 2025 H1 2026 Change Change Q2 2026 / Q1 2026 H1 2026 / H1 2025 Consumption of materials and energy 476.6 396.5 1,016.8 873.1 -16.8% -14.1% External services 505.9 503.3 1,217.3 1,009.2 -0.5% -17.1% Employee benefits 987.3 923.8 2,451.2 1,911.1 -6.4% -22.0% Taxes and charges 49.5 49.9 94.9 99.4 +0.8% +4.7% Other costs by nature 23.0 21.0 41.7 44.0 -8.7% +5.5% Total Mining Cash Cost [PLN m] 2,042.3 1,894.5 4,821.9 3,936.8 -7.2% -18.4% Coal production [000 tons] 3,235.7 3,225.9 6,199.9 6,461.6 -0.3% +4.2% Unit Mining Cash Cost [PLN/t] 631.19 587.27 777.73 609.26 -7.0% -21.7% One-off payments to employees 0.0 0.0 0.0 0.0 - - Unit Mining Cash Cost [PLN/t] net of payments to employees 631.19 587.27 777.73 609.26 -7.0% 21.7%
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Cash Conversion Cost [PLN m] 32 Q1 2026 Q2 2026 H1 2025 H1 2026 Change Change Q2 2026 / Q1 2026 H1 2026 / H1 2025 Consumption of materials net of coal feedstock 16.4 16.9 46.4 33.3 3.0% -28.2% Energy consumption 25.8 23.0 39.3 48.8 -10.9% 24.2% External services net of transport costs of coal feedstock 58.5 64.9 143.7 123.4 10.9% -14.1% Employee benefits 75.0 75.9 168.2 150.9 1.2% -10.3% Taxes and charges 15.5 23.7 86.7 39.2 52.9% -54.8% Other costs by nature 1.0 1.0 1.5 2.0 0.0% 33.3% Administrative expenses less depreciation and amortization 21.0 20.7 47.1 41.7 -1.4% -11.5% Selling and distribution expenses less depreciation and amortization attributable to selling and distribution expenses (6.5) (6.1) (13.8) (12.6) -6.2% -8.7% Total Cash Conversion Cost [PLN m] 206.7 220.0 519.1 426.7 6.4% -17.8% Volume of coke produced for sale [000 tons] 754.0 670.5 1,410.6 1,424.5 -11.1% 1.0% Unit Cash Conversion Cost [PLN/t] 274.16 328.08 367.98 299.54 19.7% -18.6%
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Financial position of the JSW Group [PLN m] 33 30.06.2025 30.09.2025 31.12.2025 31.03.2026 30.06.2026 Change Change 30.06.2026/ 31.03.2026 30.06.2026/ 30.06.2025 ASSETS 17,952.3 16,416.9 13,452.6 13,595.3 13,474.4 -0.9% -24.9% Non-current assets 14,800.3 13,270.8 10,798.6 10,991.6 10,904.1 -0.8% -26.3% - Property, plant and equipment 9,216.8 9,513.5 7,525.2 7,646.6 7,754.2 1.4% -15.9% - Intangible assets 139.9 69.1 66.8 36.0 33.6 -6.7% -76.0% - Investment property 21.1 21.0 20.1 17.3 17.2 -0.6% -18.5% - Right-of-use assets 448.9 454.5 402.6 350.5 343.5 -2.0% -23.5% - Investments in associates 1.3 1.3 1.3 1.4 1.3 -7.1% 0.0% - Deferred tax assets 1,974.9 2,165.0 2,128.0 2,196.1 2,176.5 -0.9% 10.2% - Investments in the FIZ asset portfolio 2,488.5 523.8 137.8 231.5 270.6 16.9% -89.1% - Other non-current financial assets 508.9 522.6 516.8 512.2 307.2 -40.0% -39.6% Current assets 3,152.0 3,146.1 2,654.0 2,603.7 2,570.3 -1.3% -18.5% - Inventories 1,019.9 992.1 952.2 1,100.4 1,204.7 9.5% 18.1% - Trade and other receivables 1,205.2 1,092.7 846.8 992.6 996.9 0.4% -17.3% - Overpaid income tax 4.4 4.1 4.2 3.2 1.9 -40.6% -56.8% - Financial derivatives 43.8 20.2 6.7 1.3 0.5 -61.5% -98.9% - Other current financial assets - 22.1 22.4 22.2 22.3 0.5% - - Investments in the FIZ asset portfolio 201.3 501.5 - - - - -100.0% - Cash and cash equivalents 677.4 513.4 797.0 234.4 117.1 -50.0% -82.7% - Non-current assets (disposal group) held for sale - - 24.7 249.6 226.9 -9.1% -
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Sources of financing for JSW Group’s assets [PLN m] 34 30.06.2025 30.09.2025 31.12.2025 31.03.2026 30.06.2026 Change Change 30.06.2026/ 31.03.2026 30.06.2026/ 30.06.2025 EQUITY AND LIABILITIES 17,952.3 16,416.9 13,452.6 13,595.3 13,474.4 -0.9% -24.9% Equity 7,685.3 6,880.0 3,476.8 2,846.1 2,435.5 -14.4% -68.3% Non-current liabilities 4,426.3 4,394.5 3,186.7 3,077.9 2,935.9 -4.6% -33.7% - Loans and borrowings 1,658.8 1,621.6 359.9 282.1 260.0 -7.8% -84.3% - Deferred tax liabilities 9.8 7.7 36.0 3.7 8.2 121.6% -16.3% - Employee benefit liabilities 817.9 816.0 806.4 788.8 700.8 -11.2% -14.3% - Provisions 1,438.8 1,452.8 1,484.6 1,504.9 1,493.2 -0.8% 3.8% - Lease liabilities 367.1 362.8 370.7 370.6 346.0 -6.6% -5.7% - Trade and other liabilities 133.9 133.6 129.1 127.8 127.7 -0.1% -4.6% Current liabilities 5,840.7 5,142.4 6,789.1 7,671.3 8,103.0 5.6% 38.7% - Loans and borrowings 236.2 250.7 1,468.5 1,534.5 1,539.3 0.3% 551.7% - Financial derivatives 0.0 0.1 0.3 10.0 10.0 0.0% - - Current income tax liabilities 102.2 126.8 160.2 159.7 93.8 -41.3% -8.2% - Employee benefit liabilities 353.6 285.2 296.2 283.6 256.3 -9.6% -27.5% - Provisions 340.7 321.6 326.0 340.0 342.1 0.6% 0.4% - Lease liabilities 279.8 282.2 307.2 279.9 303.9 8.6% 8.6% - FIZ liabilities 1,371.7 254.4 36.6 129.5 165.9 28.1% -87.9% - Trade and other liabilities 3,156.5 3,621.4 4,192.6 4,799.8 5,248.2 9.3% 66.3% - Liabilities related to assets held for sale - - 1.5 134.3 143.5 6.9% -
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Węgiel metalurgiczny to nieskończony potencjał rozwoju. Jastrzębska Spółka Węglowa SA Aleja Jana Pawła II 4 44-330 Jastrzębie-Zdrój tel.: +48 32 756-41-13 fax: +48 32 476-26-71 www.jsw.pl biuro@jsw.pl relacje@jsw.pl