Annual report 2012

ŽELEZIARNE PODBREZOVÁ A.S. ANNUAL REPORT 201 2 39 REPORT ON THE ACTIVITIES OF THE SUPERVISORY BOARD The Supervisory Board supervised the actions of the Board of Directors and the Company's business activities throughout the year. The information obtained shows that the Company's business activities comply with the legal regulations, Articles of Association and theGeneralMeeting's instructions. The Supervisory Board examined the financial statements that the Company is obligated to prepare. The examination was linked to the results of continuous inspections to determine whether the accounting records are kept duly according to reality. The separate and consolidated financial statements prepared for the reporting period ended 31 December 2012 were audited by an auditor, who issued an opinion without qualification. Given that the Supervisory Board identified no irregularities, it agrees with the auditor's opinions that the financial statements present fairly the material facts required by law and recommends that the General Meeting approve both financial statements. The Supervisory Board examined the Board of Director's proposal for the distribution of the profit. The Supervisory Board recommends that the General Meeting approve the Board of Director's proposal for the payout of dividends and royalties from the retained earnings from previous years, as well as theproposal for thedistributionof the2012profit. The Supervisory Board recommends that the General Meeting approve Deloitte Audit s.r.o. to audit the financial statements in the followingperiod. InPodbrezová, 18 June2013 Ing. Ján Banas Chairman of the Supervisory Board