annual average

quarterly coal yield

40.00%

80.00%

70.00%

60.00%

50.00%

Q1 Q1Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

2011 2012 2013 2014

Lubelski Węgiel BOGDANKA is the most modern and efficient hard coal mine, standing at the forefront of Polish power coal producers. The extraction level achived in Q1 2013 amounted to 2.0 million tonnes, in Q1 2014 2.2 million tonnes.

The Company’s customers include first of all industrial companies, in particular those operating in the power industry and situated in East and North-East Poland. BOGDANKA coal mine supplies industrial customers localised in eastern and northeastern Poland. The customer market is stabilised and sale is conducted mostly on the basis of long-term agreements. The major directions of sale of commercial coal from LW BOGDANKA are commercial and industrial power sectors. The Company stands out in the industry with regard to its financial results, efficiency of hard coal extraction and investment plans.

THE COMPANY MANAGEMENT BOARD

Zbigniew Stopa President of the Management Board

Waldemar Bernaciak Vice President of the Management Board, Trade and Logistics

Roger de Bazelaire Vice-President of the Management Board, Economic and Financial Affairs

Krzysztof Szlaga Vice-President of the Management Board, Procurement and Investments

Q1 2013 Q1 2014

PRODUCTION POTENTIAL OF THE COMPANY IN THE PERIOD 2008-2014 (in million of tonnes)

12

8

4

10

6

2

0

5.6

2008 20102009 2011 2012 2013 2014 (*plan)

5.2

5.8 5.8

7.88.3

9.3-10*

MARKET SHARE IN THE PERIOD OF 2010 - 2014

30.0%

20.0%

10.0%

25.0%

15.0%

5.0%

0.0%

13.9%

10.4%

2010

Share of LWB sales in the thermal coal market

Share of LWB sales in the thermal coal market – products sold to the commercial power plants

2011 2012 2013 Q1 2014

9.9%

14.2% 14.8%

18.6%

13.7%

19.8% 19.3%

24.8%

ITEM Q1 2014 Q1 2013 % CHANGE Q1 2014/Q1 2013

TECHNICAL AND OPERATING DATA

Gross production 3,343 kt 2,964 kt 12.8 %

Net production 2,238 kt 2,032 kt 10.1 %

Coal sales 2,225 kt 1,859 kt 19.7 %

Inventories (end of period) 229.3 kt 190.9 kt 20.1 %

New galleries (by length) 9.3 km 6.8 km 36.8 %

Coal yield 66.9 % 68.6 % - 2.5 %

FINANCIAL DATA

Revenue 481,540 (PLN `000) 430,758 (PLN `000) 11.8 %

Gross profit 85,105 (PLN `000) 90,785 (PLN `000) - 6.3 %

EBITDA 174,149 (PLN `000) 172,612 (PLN `000) 0.9 %

EBITDA margin 36.2 % 40.1 % - 9.7 %

EBIT 85,958 (PLN `000) 89,714 (PLN `000) - 4.2 %

EBIT margin 17.9 % 20.8 % - 13.9 %

Net profit 62,600 (PLN `000) 70,095 (PLN `000) - 10.7 %

FINANCIAL RESULTS COAL YIELD AT LW BOGDANKA S.A. (2011-2013)600,000

400,000

200,000

500,000

300,000

100,000

0

481,540

430,758

Revenue Gross profit from sales

EBITDA EBIT Nett profit

90,785 89,714 70,095

174,149

85,105 85,95862,600

172,612

FACT SHEETLubelski Węgiel Bogdanka Spółka Akcyjna

Q1 2014

60

50

40

70

80

90

100

110

120

130

140

150

201420132012201120102009

143

STOCK RATE FOR THE PERIOD OF 22.07.2009 r.-31.03.2014 r. (PLN )

20102009 2011 2012 2013 2014

ISSUE PRICE 47.00 PLNThis communication material has been prepared by BOGDANKA S.A. (the “Company”). The information contained in this material has been compiled and prepared with due care, based on facts and data taken from sources believed by the Company to be reliable, in particular based on the Company’s own research and estimates prepared on the basis of publicly available information, or Company data not constituting inside information within the meaning of Art. 154 of the Act on Trading in Financial Instruments. The Company shall not be held liable for any reason whatsoever as a result of the use of the information in this material. No information contained in this material shall be construed as a recommendation or as investment, legal or tax advice, nor is it an indication that any investment or strategy is suitable or addressed individually to any investor. The Company does not guarantee that the information contained herein is complete and does not accept any liability for the consequences of investment decisions made on the basis of this material. Sole responsibility for such investment deci-sions and any resulting losses shall lie with the investor. Every investor making an investment decision in reliance on this material is obliged to make its own assessment of the risks and benefits of the sale or acquisition of Company shares, based on all information made available by the Company in this material as well as its current and periodic reports. Some information contained herein involves a degree of risk and uncertainty, as it refers to events and is contingent on circumstances which either will or only may occur in the future. Such information is based on assumptions relating to the Company’s current and future strategies, and to the economic environment in which the Company will be operating in the future. Accordingly, actual performance may significantly differ from the plans, objectives and expectations expressed herein. Further, the Company notes that some of the information may become outdated, and the Company does not undertake any obligation to update such information. This material is not an offer within the meaning of civil law, nor is it a public offering within the meaning of the Public Offering Act, nor is it a proposal, advertisement or invitation to purchase Company shares, and has been prepared for information purposes only. Nothing in this material shall be taken as a commitment to enter into any agreement or establish any legal relationship involving the Company.

Paweł BIELSKI Magdalena SZEWCZYK Paweł KRASZEWSKI

+ 48 81 462 55 44

ri@lw.com.pl

pbielski@lw.com.pl

+ 48 81 462 55 44

ri@lw.com.pl

mszewczyk@lw.com.pl

+ 48 81 462 50 29

ri@lw.com.pl

pkraszewski@lw.com.pl

DISCLAIMER

12

14

8

4

10

6

2

0

5.8

7.8 8.4

≈9.3-10

≈12

2011

BOGDANKA plans to achieve a 20% share in the thermal coal market in Poland by 2015

2012 2013 2014 2018

x2

INDICES:• WIG - Surowce• WIG20• WIG30

Department responsible for Investor Relations and Stock Exchange Information

CONTACT

Net production - baseline 2011 Net production - baseline 2011

STRATEGYTechnical and financial performance of the LW BOGDANKA Group in Q4 2014 are the result of consistently implemented strategy, updated at the beginning of June 2013.

Key Elements of Strategy for 2013-2020 are:

• The Company Seeking to obtain new licences in the Lublin Coal Basin

• Planning to increase its recoverable reserves from the current level of approx. 237 million tonnes up to approx. 450 million tonnes

• Planning the average annual net level of production of approx. 12 million tonnes of coal, this would result in extending the life of the mine until about 2050 (with current reserves the life of the mine ends in 2034).

COAL PRODUCTION

2x2RESERVES

Double production and reinforceBOGDANKA’S position as the

leading supplier of coal to commercial power plants.

Doubling of LW BOGDANKA S.A.’srecoverable reserves and extension

of the mine’s operating life to about 2050.

DIVIDEND POLICYIn connection with the Dividend Policy that is part of the approved Strategy, the Management Board will recommend that the Company’s General Meeting resolve to make profit distributions for 2013- -2015 to shareholders in the Company equal to 60% of the Company’s consolidated net profit.

LUBELSKI WĘGIEL BOGDANKA S.A. AT STOCK MARKET

14.88% Aviva Otwarty Fundusz Emerytalny Aviva BZ WBK

9.63% ING Otwarty Fundusz Emerytalny

9.76% Otwarty Fundusz Emerytalny PZU „Złota Jesień”

5.10% AMPLICO Otwarty Fundusz Emerytalny

60.63% Others

SALES STRUCTURE

ITEM Q1 2014 SHARE [%] Q1 2014 SHARE [%]

Coal sales 456,944 (PLN `000) 94.9 % 410,624 (PLN `000) 95.3 %

Ceramics sales 1,493 (PLN `000) 0.3 % 336 (PLN `000) 0.1 %

Other activities 20,565 (PLN `000) 4.3 % 17,111 (PLN `000) 4.0 %

Sales of merchandise and materials 2,538 (PLN `000) 0.5 % 2,687 (PLN `000) 0.6 %

Total revenue 481,540 (PLN `000) 100 % 430,758 (PLN `000) 100 %

FACT SHEETLubelski Węgiel Bogdanka Spółka Akcyjna

Q1 2014