Annual report 2018

41 Železiarne Podbrezová a.s. ANNUAL REPORT 2018 The members of the Supervisory Board were in close contact with the members of the Board of Directors and other senior staff throughout the year. They had adequate access to all information necessary to supervise the actions of the Board of Directors and the Company’s business activities. The Chairman of the Supervisory Board was informed about all important decisions of the Board of Directors under consideration. Every meeting of the Board of Directors was attended by several members of the Supervisory Board, who were provided with information on the economic and financial position of the Company and ŽP GROUP companies and on the balance of the Company’s assets, liabilities and receivables. The Board of Directors submitted to the Supervisory Board the Report on the Company’s Business Activities, Assets and Financial Management for 2018 and the information on the future business plan. Based on the results of the supervisory activities, the Supervisory Board concludes that the Company’s business activities in 2018 were performed in accordance with the legal regulations, Articles of Association and the General Meeting’s instructions. The members of the Board of Directors acted within the scope of their powers with professional diligence and in line with the interests of the Company and all its shareholders. The Supervisory Board examined the separate and consolidated financial statements for the reporting period from 1 January 2018 to 31 December 2018, audited by Deloitte Audit s.r.o., and identified no irregularities. Therefore, the Supervisory Board recommends that the General Meeting approve both financial statements. The Supervisory Board recommends that the General Meeting approve the Board of Director’s proposal for the pay-out of dividends and royalties from Retained earnings fromprevious years, as well as the proposal for the distribution of the 2018 profit. The Supervisory Board recommends that the General Meeting approve Deloitte Audit s.r.o., SKAu licence No. 014, to audit the financial statements for the period beginning on 1 January 2019. In Podbrezová, 5 June 2019 Ing. Ján Banas Chairman of the Supervisory Board REPORT ON THE ACTIVITIES OF THE SUPERVISORY BOARD