Annual report 2019

43 Železiarne Podbrezová a.s.: ANNUAL REPORT 2019 The members of the Supervisory Board had adequate access to all information necessary to supervise the actions of the Board of Directors and the Company’s business activities. They were informed about all important decisions of the Board of Directors being prepared. Every meeting of the Board of Directors was attended by several members of the Supervisory Board. In 2019, the Supervisory Board was receiving up- to-date information on the economic activities, financial situation, balance of assets, liabilities and receivables of Železiarne Podbrezová a.s. and also its subsidiaries in the ŽP GROUP. Based on the results of the supervisory activities, the Supervisory Board concludes that the Company’s business activities in 2019 were performed in accordance with the legal regulations, the Company’s 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 theCompany and all its shareholders. The Supervisory Board examined the separate and consolidated financial statements for the reporting period ended 31 December 2019, audited by Deloitte Audit s.r.o., and identified no irregularities. It 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 distribution of the 2019 profit and for the pay-out of dividends and royalties. 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 starting on 1 January 2020. In Podbrezová, 12 June 2020 Ing. Ján Banas Chairman of the Supervisory Board REPORT ON THE ACTIVITIES OF THE SUPERVISORY BOARD