ANNUAL REPORT 2021

Annual report 2021 Železiarne Podbrezová a.s. 16 17 8 OTHER NON-CURRENT ASSETS 31 December 2021 31 December 2020 Non - current borrowing provided - 53 394 Deferred expenses 78 926 85 018 Other non - current receivables 47 213 138 014 Total 126 139 276 426 9 INVENTORIES 31 December 2021 31 December 2020 Raw materials and spare parts 33 178 463 24 488 444 Work in progress 17 855 736 14 373 910 Finished products 20 222 241 16 065 489 Merchandise 1 471 409 396 356 Provision (726 338) (1 871 574) Total 72 001 511 53 452 625 At 31 December 2021 and 31 December 2020, none of the inventories were pledged to secure bank loans. Provisions for inventories Balance as at 1 January 2021 Creation Use Cancellation Balance as at 31 December 2021 Raw materials and spare parts 596 103 644 723 574 587 30 727 635 512 Work in progress - - - - - Finished products 1 174 649 43 122 1 174 649 - 43 122 Merchandise 100 822 10 110 63 228 - 47 704 Total 1 871 574 697 955 1 812 464 30 727 726 338 Movements in provisions for inventories are included in “Other operating expenses and income”. Insurance of inventories Insured assets Type of insurance Name and address of the insurance company Amount insured Inventories (work in progress, semi - finished products, finished products) Against all risks Allianz - Slov, poisťovňa, a.s., Bratislava 57 000 000 10 TRADE RECEIVABLES AND OTHER FINANCIAL ASSETS 31 December 2021 31 December 2020 Trade receivables 46 263 538 24 788 425 Borrowings provided to related parties 500 000 1 054 685 Other tax assets 4 724 081 2 971 429 Receivables from subsidies 52 200 1 770 053 Other receivables 738 985 10 446 001 Allowance for doubtful amounts (496 040) (591 983) Total trade and other receivables 51 782 764 40 438 610 Other tax assets of EUR 4 724 thousand (31 December 2020: EUR 2 971 thousand) represent VAT receivables. Provided borrowings comprise borrowings provided to KBZ s.r.o. in the amount of EUR 500 thousand (31 December 2020: EUR 1 055 thousand). Receivables from subsidies are described in Note 29. Other receivables of EUR 739thousand comprisea providedshort - term borrowing (31December2020: EUR 10 446 thousand). As at 31 December 2021 and 31 December 2020, none of the Company’s receivables were subject to a lien established as collateral for bank loans. The breakdown of trade and other receivables: 31 December 2021 31 December 2020 Current receivables 49 797 677 39 473 281 Overdue receivables 2 481 127 1 557 312 Total 52 278 804 41 030 593 The ageing structure of overdue receivables for which no provision was recorded: 31 December 2021 31 December 2020 Within 90 days 1 979 535 956 822 90 – 180 days 4 262 - 180 – 360 days 943 - Over 360 days - 2 000 Total 1 984 740 958 822 The ageing structure of overdue receivables for which provisions were recorded: 31 December 2021 31 December 2020 Within 90 days - - 90 – 180 days - - 180 – 360 days 1 330 13 013 Over 360 days 495 057 585 477 Total 496 387 598 490 NOTES TO THE SEPARATE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 (IN EUROS)