ANNUAL REPORT 2021

7 8 Notes to the Separate Financial Statements For the year ended 31 December 2021 (in euros) 1 GENERAL INFORMATION 1.1 Description of the Company Železiarne Podbrezová a.s. (hereinafter the “Company” or “ŽP”) is a joint stock company that was incorporated on 21 April 1992 and established on 1 May1992. The Company’s registered seat is at Kolkáreň 35,97681 Podbrezová, SlovakRepublic and its identification numbers are asfollows: IČO: 31 562 141; DIČ: 2020458704. The Company produces steel pipes for industrial purposes, which are mainly sold to customers in Europe. 1.2 Structure of shareholders and their shares in the share capital As at 31 December 2021, the Company’s shares were held by CPA s.r.o. (79.45%) (31 December 2020: 79.44%) and other minority shareholders (20.55%) (31 December 2020: 20.56%). The shareholders’ voting rights equal their ownership interest in the share capital. The Company’s shares are certified registered shares and have not been publicly tradable since 2007. 1.3 Members of Company's bodies Supervisory Board Board of Directors Ing. Ján Banas – Chairman Ing. Vladimír Soták – Chairman Ing. Jozef Marčok – Deputy Chairman Ing. Marian Kurčík – Deputy Chairman Luigi Cuzzolin – Member Ing. Miloš Dekrét – Member Ing. Ľudovít Ihring – Member Ing. Mária Niklová – Member Ing. Tomáš Ihring – Member Ing. Vladimír Soták, Jr. – Member Ing. Jaroslav Romančík – Member Ing. Milan Srnka, PhD – Member until 22 Jun 2021 Ing. Vladimír Zvarík – Member Ing. Július Kriváň – Member Ing. Ivan Setvák – Member Ing. Miroslav Vrabec – Member from 20 Nov 2020 until 15 Jan 2021 Ján Cipciar – Member since 15 Jan 2021 1.4 Unlimited guarantee The Company is not a partner in any unlimited liability company. 1.5 Legal basis for preparing the financial statements These financial statements are the annual separate financial statements of Železiarne Podbrezová a.s. as prepared under Act No. 431/2002 Coll. on Accounting, as amended. The separate financial statements were prepared for the reporting period from 1 January 2021 to 31 December 2021 in accordance with International Financial Reporting Standards (IFRS) as adopted by the European Union (EU). These financial statements also represent the statutory financial statements of the Company. The financial statements have been presented for general use. 1.6 Approval of the 2019 financial statements The Company’s financial statements for the year ended 31 December 2020 were approved by the Annual General Meeting held on 21 June 2021. 1.7 Consolidated financial statements The Company also prepares consolidated financial statements, which are available at the Company’s registered seat and at the Registry Court in Banská Bystrica (Section Sa, FileNo. 69/S). The Company’s consolidated financial statementsare included in the consolidated financialstatements of the parent company, i.e. CPA s.r.o. The parent company’s consolidated financial statements are available at the Company’s registered seat and at the Registry Court in Banská Bystrica (Skuteckého 28, 975 59). The consolidated financial statements provide a comprehensive view on the operation of the Company and its subsidiaries. The business names of subsidiaries and joint ventures are specified in Note 7. 1.8 Comparatives As comparatives for the previous reporting period relating to assets, liabilities, and equity items, the financial statements present data reflecting balances as at 31 December 2020. For expenses and revenues, comparatives for the previous reporting period, i.e. year ended 31 December 2020, were used. 2 ADOPTION OF INTERNATIONAL FINANCIAL REPORTING STANDARDS In the current year, the Company adopted all new and revised standards and interpretations issued by the International Accounting Standards Board (“IASB”) and the International Financial Reporting Interpretations Committee (“IFRIC”) of IASB as endorsed by the European Union that are relevant to its operations and are effective for the reporting periods beginning on 1 January 2021. Initial application of new amendments to the existing standards effective for the current reporting period The following amendments to the existing standards issued by the International Accounting Standards Board (IASB) and adopted by the EU are effective for the current reporting period: - Amendments to IFRS 9 “Financial Instruments”, IAS 39 “Financial Instruments: Recognition and Measurement”, IFRS 7 “Financial Instruments: Disclosures”, IFRS 4 “Insurance Contracts” and IFRS 16 “Leases” – Interest Rate Benchmark Reform – Phase 2 adopted by the EU on 13 January 2021 (effective for annual periods beginning on or after 1 January 2021), - Amendments to IFRS 16 “Leases” – Covid - 19 - Related Rent Concessions beyond 30 June 2021 adopted by the EU on 30 August 2021 (effective from 1 April 2021 for annual periods starting, at the latest, on or after 1 January 2021), NOTES TO THE SEPARATE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 (IN EUROS)