Annual Report 2009

Ž E L E Z I A R N E P O D B R E Z O V Á REPORT ON ACTIVITIES OF THE SUPERVISORY BOARD During the year under review the development of the Company was to a great extent positively affected by the Board of Directors’ and the Company’s management’s effort to seek and implement the anti-crisis measures for mitigating the negative impacts resulting from lower production volumes, eliminating decreased demand from traditional customers affected by the crisis, searching for new supply opportunities on the competitors’ markets, and maintaining financial and personnel stability. Based on the results of its supervisory activities the Supervisory Board states that when performing the Company’s business activities the Board of Directors acted with professional care and in line with the laws and Articles of Association, while considering the interests of all shareholders. After reviewing the individual and consolidated financial statements prepared for the period ended 31 December 2009, the Supervisory Board agrees with the auditor’s opinion that they provide a true and fair view and it recommends that the General Meeting approve both financial statements. The Supervisory Board also recommends that the General Meeting approve the Board of Directors’ proposal to settle the loss. The Supervisory Board recommends that the General Meeting approve Deloitte Audit s.r.o. as the auditor of the financial statements for the following period. In Podbrezová, 14 June 2010 Ing. Ján Banas Chairman, Supervisory Board 41