ANNUAL REPORT 2021

INTRODUCTION OF THE CHAIRMAN OF THE BOARD OF DIRECTORS .......................................................... 2 COMPANY INFORMATION .......................................................... 4 Board of directors .......................................................... 4 Supervisory board .......................................................... 6 Key information .......................................................... 7 Key financial indicators .......................................................... 8 Production and sales .......................................................... 10 REPORT BY THE BOARD OF DIRECTORS .......................................................... 12 Business activities .......................................................... 14 Environmental policy .......................................................... 18 Human resources .......................................................... 18 Report on assets and financial management .......................................................... 23 Report on the activities of consolidated entities .......................................................... 28 Business plan .......................................................... 36 Conclusion .......................................................... 39 GREEN STEEL .......................................................... 40 INFORMATION FOR SHAREHOLDERS .......................................................... 48 REPORT ON THE ACTIVITIES OF THE SUPERVISORY BOARD .......................................................... 50 CONSOLIDATED FINANCIAL STATEMENTS .......................................................... 52 CONTACTS .......................................................... 80 APPENDIX: SEPARATE FINANCIAL STATEMENTS TABLE OF CONTENTS