National Steel Co 6-K, filed Apr 5, 2022

National Steel Co (SID)

6-K 2022-04-05 For: 2021-12-31

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Added on April 11, 2026

About this 6-K

National Steel Co filed this 6-K on April 5, 2022.

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Company Information
Capital Breakdown	1
Parent Company Financial Statements
Balance Sheet – Assets	2
Balance Sheet – Liabilities	3
Statement of Income	4
Statement of Comprehensive Income	5
Statement of Cash Flows	6
Statement of Changes in Shareholders’ Equity
01/01/2021 to 12/31/2021	8
01/01/2020 to 12/31/2020	9
Statement of Value Added	10
Consolidated Financial Statements
Balance Sheet – Assets	11
Balance Sheet - Liabilities	12
Statement of Income	13
Statement of Comprehensive Income	14
Statement of Cash Flows	15
Statement of Changes in Shareholders’ Equity
01/01/2021 to 12/31/2021	17
01/01/2020 to 12/31/2020	18
Statement of Value Added	19
Comments on the Company’s Consolidated Performance	20
Notes to the financial information	58
Comments on the Performance of Business Projections	137
Reports and Statements
Unqualified Independent Auditors’ Review Report	141
Opinion of the Supervisory Board or Equivalent Body	147
Opinion or Summary Report, if any, of the Audit Committee (statutory or otherwise)	148
Officers Statement on the Financial Statements	150
Officers Statement on Auditor’s Report	151

Number of Shares (Units)	Current Year 12/31/2021
Paid-in Capital
Common	1,387,524,047
Preferred	0
Total	1,387,524,047
Treasury Shares
Common	45,790,000
Preferred	0
Total	45,790,000

Parent Company Financial Statements / Balance Sheet - Assets
(R$ thousand)

Code	Description	Current year 12/31/2021	Previous Year 12/31/2020
1	Total Assets	61,933,890	53,196,550
1.01	Current assets	18,241,837	14,879,594
1.01.01	Cash and cash equivalents	3,885,265	4,647,125
1.01.02	Financial investments	2,426,457	3,780,891
1.01.02.01	Financial investments measured a fair value through profit or loss	2,383,059	3,305,109
1.01.02.01.03	Financial investments measured a fair value through profit or loss – Usiminas’ shares	2,383,059	3,305,109
1.01.02.03	Financial investments at amortized cost	43,398	475,782
1.01.03	Trade receivables	2,375,512	1,549,703
1.01.04	Inventory	7,508,183	3,014,446
1.01.06	Recoverable taxes	1,255,697	1,381,853
1.01.08	Other current assets	790,723	505,576
1.01.08.03	Others	790,723	505,576
1.01.08.03.02	Prepaid expenses	185,968	94,782
1.01.08.03.03	Dividends receivable	486,506	329,413
1.01.08.03.04	Others	118,249	81,381
1.02	Non-current assets	43,692,053	38,316,956
1.02.01	Long-term assets	9,982,573	8,406,417
1.02.01.03	Financial investments at amortized cost	132,523	123,409
1.02.01.07	Deferred taxes assets	4,843,653	3,799,707
1.02.01.10	Other non-current assets	5,006,397	4,483,301
1.02.01.10.03	Recoverable taxes	691,286	738,431
1.02.01.10.04	Judicial deposits	222,481	221,016
1.02.01.10.05	Prepaid expenses	109,583	99,834
1.02.01.10.06	Receivable from related parties	2,442,198	1,907,877
1.02.01.10.07	Others	1,540,849	1,516,143
1.02.02	Investments	26,140,909	19,546,493
1.02.02.01	Equity interest	25,998,331	19,401,494
1.02.02.02	Investment Property	142,578	144,999
1.02.03	Property, plant and equipment	7,508,842	10,315,724
1.02.03.01	Property, plant and equipment in operation	6,752,158	8,598,597
1.02.03.02	Right of use in leases	15,996	64,659
1.02.03.03	Property, plant and equipment in progress	740,688	1,652,468
1.02.04	Intangible assets	59,729	48,322

Parent Company Financial Statements / Balance Sheet – Liabilities
(R$ thousand)

Code	Description	Current year 12/31/2021	Previous Year 12/31/2020
2	Total Liabilities	61,933,890	53,196,550
2.01	Current liabilities	16,202,230	10,756,084
2.01.01	Payroll and related taxes	133,595	138,761
2.01.02	Trade payables	4,710,811	4,133,089
2.01.03	Tax payables	761,868	289,095
2.01.04	Borrowings and financing	3,864,228	3,858,493
2.01.05	Other payables	6,696,157	2,302,188
2.01.05.02	Others	6,696,157	2,302,188
2.01.05.02.04	Dividends and interests on shareholder´s equity	1,125,359	901,983
2.01.05.02.05	Advance from customers	148,822	196,595
2.01.05.02.06	Trade payables – Forfaiting and Drawee risk	4,439,967	623,861
2.01.05.02.07	Lease liabilities	7,602	26,546
2.01.05.02.08	Other payables	974,407	553,203
2.01.06	Provisions	35,571	34,458
2.01.06.01	Provision for tax, social security, labor and civil risks	35,571	34,458
2.02	Non-current liabilities	25,416,662	32,527,015
2.02.01	Borrowings and financing	16,568,616	24,423,753
2.02.02	Other payables	319,859	771,292
2.02.02.02	Others	319,859	771,292
2.02.02.02.03	Lease liabilities	10,339	40,561
2.02.02.02.04	Derivative financial instruments	101,822	97,535
2.02.02.02.05	Trade payables	43,396	376,753
2.02.02.02.06	Other payables	164,302	256,443
2.02.04	Provisions	8,528,187	7,331,970
2.02.04.01	Provision for tax, social security, labor and civil risks	333,285	401,157
2.02.04.02	Other provisions	8,194,902	6,930,813
2.02.04.02.03	Provision for environmental liabilities and decommissioning of assets	159,254	229,524
2.02.04.02.04	Pension and healthcare plan	584,288	758,426
2.02.04.02.05	Provision for losses on investments	7,451,360	5,942,863
2.03	Shareholders’ equity	20,314,998	9,913,451
2.03.01	Paid-up capital	10,240,000	6,040,000
2.03.02	Capital reserves	32,720	32,720
2.03.04	Earnings reserves	10,092,888	5,824,350
2.03.04.01	Legal reserve	1,081,222	468,291
2.03.04.02	Statutory reserve	9,948,596	5,414,323
2.03.04.09	Treasury shares	(936,930)	(58,264)
2.03.08	Other comprehensive income	(50,610)	(1,983,619)

Parent Company Financial Statements / Statement of Income
(R$ thousand)
Code	Description	Current year 12/31/2021	Previous Year 12/31/2020
3.01	Revenues from sale of goods and rendering of services	24,843,080	14,184,409
3.02	Costs from sale of goods and rendering of services	(16,167,092)	(11,755,186)
3.03	Gross profit	8,675,988	2,429,223
3.04	Operating (expenses)/income	5,326,474	(999,254)
3.04.01	Selling expenses	(746,577)	(676,518)
3.04.02	General and administrative expenses	(218,322)	(225,189)
3.04.04	Other operating income	2,822,559	423,803
3.04.05	Other operating expenses	(1,160,330)	(2,414,036)
3.04.06	Equity in results of affiliated companies	4,629,144	1,892,686
3.05	Income before financial income (expenses) and taxes	14,002,462	1,429,969
3.06	Financial income (expenses)	59,980	1,239,985
3.06.01	Financial income	1,004,012	1,776,821
3.06.02	Financial expenses	(944,032)	(536,836)
3.06.02.01	Net exchange differences over financial instruments	383,919	915,827
3.06.02.02	Financial expenses	(1,327,951)	(1,452,663)
3.07	Income before income taxes	14,062,442	2,669,954
3.08	Income tax and social contribution	(1,803,814)	1,124,341
3.09	Net incomefrom continued operations	12,258,628	3,794,295
3.11	Net income for the year	12,258,628	3,794,295
3.99	Earnings per share – (Reais / Share)	-	-
3.99.01	Basic earnings per share	-	-
3.99.01.01	Common shares	8.90654	2.74926
3.99.02	Diluted earnings per share	-	-
3.99.02.01	Common shares	8.90654	2.74926

(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)
Annual Financial Statements - December 31, 2021 – CIA SIDERURGICA NACIONAL	Version: 1

6.02.14	Net cash received from sale of CSN Mineração's shares	3,164,612	-
6.03	Net cash used in financing activities	(12,120,258)	(463,272)
6.03.01	Borrowings and financing raised	3,869,441	80,744
6.03.02	Transactions cost - Borrowings and financing	(15,053)	(19,738)
6.03.03	Borrowings and financing – related parties	1,830,101	2,421,713
6.03.04	Amortization of borrowings and financing	(6,516,832)	(1,922,270)
6.03.05	Amortization of borrowings and financing - related parties	(7,763,537)	(985,575)
6.03.06	Dividends and interest on shareholder’s equity	(2,649,505)	(12,414)
6.03.07	Amortization of leases	(9,502)	(25,732)
6.03.08	Share repurchase	(865,371)	-
6.04	Exchange rate on translating cash and cash equivalents	-	-
6.05	Increase (decrease) in cash and cash equivalents	(761,860)	4,255,018
6.05.01	Cash and equivalents at the beginning of the year	4,647,125	392,107
6.05.02	Cash and equivalents at the end of the year	3,885,265	4,647,125

Code	Description	Paid-up capital	Capital reserve, granted options and treasury shares	Earnings reserve	Retained earnings (accumulated losses)	Other comprehensive income	Shareholders’ equity
5.01	Opening balances	6,040,000	32,720	5,824,350	-	(1,983,619)	9,913,451
5.03	Adjusted opening balances	6,040,000	32,720	5,824,350	-	(1,983,619)	9,913,451
5.04	Capital transaction with shareholders	4,200,000	-	(5,078,666)	(2,911,424)	827,414	(2,962,676)
5.04.01	Capital increase proposed	4,200,000	-	(4,200,000)	-	-	-
5.04.04	Treasury shares acquired	-	-	(878,666)	-	-	(878,666)
5.04.06	Dividends	-	-	-	(2,654,471)	-	(2,654,471)
5.04.07	Interest on equity	-	-	-	(256,953)	-	(256,953)
5.04.08	Net gain of transaction primary and secondary distribution shares of CSN Mineração	-	-	-	-	829,486	829,486
5.04.09	(Loss) / gain on the percentage change in investments	-	-	-	-	(2,072)	(2,072)
5.05	Total comprehensive income	-	-	-	12,258,628	1,105,595	13,364,223
5.05.01	Net income for the period	-	-	-	12,258,628	-	12,258,628
5.05.02	Other comprehensive income	-	-	-	-	1,105,595	1,105,595
5.05.02.04	Cumulative translation adjustments for the year	-	-	-	-	(8,097)	(8,097)
5.05.02.06	Actuarial gains/(losses) on pension plan, net of taxes	-	-	-	-	301,379	301,379
5.05.02.07	(Loss) / gain on cash flow hedge accounting, net of taxes	-	-	-	-	1,321,690	1,321,690
5.05.02.08	Treasury shares acquired by reflex subsidiary	-	-	-	-	(509,377)	(509,377)
5.06	Internal changes in shareholders’ equity	-	-	9,347,204	(9,347,204)	-	-
5.06.01	Constitution of reserves	-	-	9,347,204	(9,347,204)	-	-
5.07	Closing balance	10,240,000	32,720	10,092,888	-	(50,610)	20,314,998

Consolidated Financial Statements / Balance Sheet - Assets
(R$ thousand)
Code	Description	Current year 12/31/2021	Previous Year 12/31/2020
1	Total assets	79,379,103	63,002,149
1.01	Current assets	34,972,354	23,386,194
1.01.01	Cash and cash equivalents	16,646,480	9,944,586
1.01.02	Financial investments	2,644,732	3,783,362
1.01.02.01	Financial investments measured a fair value through profit or loss	2,383,059	3,305,109
1.01.02.01.03	Financial investments measured a fair value through profit or loss – Usiminas’ shares	2,383,059	3,305,109
1.01.02.03	Financial investments at amortized cost	261,673	478,253
1.01.03	Trade receivables	2,597,838	2,867,352
1.01.04	Inventory	10,943,835	4,817,586
1.01.06	Recoverable taxes	1,655,349	1,605,494
1.01.08	Other current assets	484,120	367,814
1.01.08.03	Others	484,120	367,814
1.01.08.03.02	Prepaid expenses	225,036	211,027
1.01.08.03.03	Dividends receivable	76,878	38,088
1.01.08.03.05	Others	182,206	118,699
1.02	Non-current assets	44,406,749	39,615,955
1.02.01	Long-term assets	11,206,737	8,887,158
1.02.01.03	Financial investments at amortized cost	147,671	123,409
1.02.01.05	Inventory	656,193	347,304
1.02.01.07	Deferred taxes assets	5,072,092	3,874,946
1.02.01.10	Other non-current assets	5,330,781	4,541,499
1.02.01.10.03	Recoverable taxes	965,026	938,452
1.02.01.10.04	Judicial deposits	339,805	325,117
1.02.01.10.05	Prepaid expenses	133,614	129,455
1.02.01.10.06	Receivable from related parties	2,070,305	1,630,070
1.02.01.10.07	Others	1,822,031	1,518,405
1.02.02	Investments	4,011,828	3,695,780
1.02.02.01	Equity interest	3,849,647	3,535,906
1.02.02.02	Investment Property	162,181	159,874
1.02.03	Property, plant and equipment	21,531,134	19,716,223
1.02.03.01	Property, plant and equipment in operation	17,305,628	15,519,233
1.02.03.02	Right of use in leases	581,824	516,668
1.02.03.03	Property, plant and equipment in progress	3,643,682	3,680,322
1.02.04	Intangible assets	7,657,050	7,316,794

Consolidated Financial Statements / Statements of Income
(R$ thousand)
Code	Description	Current year 12/31/2021	Previous Year 12/31/2020
3.01	Revenues from sale of goods and rendering of services	47,912,039	30,064,020
3.02	Costs from sale of goods and rendering of services	(25,837,475)	(19,124,901)
3.03	Gross profit	22,074,564	10,939,119
3.04	Operating (expenses)/income	(1,534,602)	(5,224,682)
3.04.01	Selling expenses	(2,372,298)	(2,004,417)
3.04.02	General and administrative expenses	(587,148)	(504,458)
3.04.04	Other operating income	2,958,372	482,494
3.04.05	Other operating expenses	(1,716,032)	(3,270,056)
3.04.06	Equity in results of affiliated companies	182,504	71,755
3.05	Income before financial income (expenses) and taxes	20,539,962	5,714,437
3.06	Financial income (expenses)	(1,944,184)	(796,311)
3.06.01	Financial income	1,167,184	1,802,728
3.06.02	Financial expenses	(3,111,368)	(2,599,039)
3.06.02.01	Net exchange differences over financial instruments	45,760	277,156
3.06.02.02	Financial expenses	(3,157,128)	(2,876,195)
3.07	Income before income taxes	18,595,778	4,918,126
3.08	Income tax and social contribution	(5,000,157)	(625,508)
3.09	Net income from continued operations	13,595,621	4,292,618
3.11	Consolidated net income for the year	13,595,621	4,292,618
3.11.01	Earnings attributable to the controlling interests	12,258,628	3,794,295
3.11.02	Earnings it attributable to the non-controlling interests	1,336,993	498,323
3.99	Earnings per share – (Reais / Share)	-	-
3.99.01	Basic earnings per share	-	-
3.99.01.01	Common shares	8.90654	2.74926
3.99.02	Diluted earnings per share	-	-
3.99.02.01	Common shares	8.90654	2.74926

Consolidated Financial Statements / Statement of Comprehensive Income
(R$ thousand)

Code	Description	Current year 12/31/2021	Previous Year 12/31/2020
4.01	Consolidated net income for the year	13,595,621	4,292,618
4.02	Other comprehensive income	963,798	(3,154,442)
4.02.01	Actuarial gains over pension plan of subsidiaries, net of taxes	698	879
4.02.02	Gain over pension plan, net of taxes	300,455	132,059
4.02.03	Treasury shares acquired by reflex subsidiary	(651,016)	-
4.02.04	Cumulative translation adjustments for the year	(8,097)	581,175
4.02.05	Cash flow hedge - Platts, reclassified to income upon realization, net of taxes	18,300	186,878
4.02.06	(Loss)/gain cash flow hedge accounting – “Platts”, net taxes, from investments in subsidiaries	(17,755)	(187,423)
4.02.09	Gain on the percentage change in investments	-	6,102
4.02.10	Cash flow hedge - Platts, reclassified to income upon realization, net of taxes	795,923	(5,537,174)
4.02.11	Cash flow hedge reclassified to income upon realization	525,290	1,667,886
4.02.12	(Loss) on hedge of net investment in foreign operations.	-	(4,824)
4.03	Consolidated comprehensive income for the year	14,559,419	1,138,176
4.03.01	Earnings attributable to the controlling interests	13,364,223	640,052
4.03.02	Earnings it attributable to the non-controlling interests	1,195,196	498,124

6.02.08	Financial Investments, net of redemption	1,504,770	39,428
6.02.09	Deposit in guarantee for the acquisition of LafargeHolcim	(263,750)	-
6.02.10	Price paid in investiments of Elizabeth´s	(727,752)	-
6.03	Net cash used in financing activities	(8,529,859)	1,185,072
6.03.01	Borrowings and financing raised	12,845,544	8,085,902
6.03.02	Transactions cost - Borrowings and financing	(162,852)	(39,174)
6.03.03	Issuance of new CSN Mineração's shares	1,347,862	-
6.03.04	Share repurchase	(1,516,388)	-
6.03.05	Amortization of borrowings and financing	(17,639,178)	(6,448,658)
6.03.06	Amortization of leases	(114,303)	(103,648)
6.03.07	Dividends and interest on shareholder’s equity	(3,290,544)	(309,350)
6.04	Exchange rate on translating cash and cash equivalents	(9,438)	(42,660)
6.05	Increase (decrease) in cash and cash equivalents	6,701,894	8,855,631
6.05.01	Cash and equivalents at the beginning of the year	9,944,586	1,088,955
6.05.02	Cash and equivalents at the end of the year	16,646,480	9,944,586

Amounts related to the services provided by the auditors	(R$ thousand)
Fees related to external audit	12,267
Fees related to other assurance services	1,793
Total	14,060

Result 4Q21 (R$ million)	Steel	Mining	Logistics (Port)	Logistics (Railway)	Energy	Cement	Corporate Expenses/Elimination	Consolidated

Net Revenue	7,648	2,401	86	444	47	423	(687)	10,361
Domestic Market	4,966	448	86	444	47	423	(957)	5,456
Foreign Market	2,682	1,953	-	-	-	-	270	4,905
COGS	(5,096)	(1,669)	(60)	(342)	(39)	(269)	869	(6,606)
Gross profit	2,552	733	26	101	8	154	182	3,755
DGA/DVE	(324)	(86)	(8)	(42)	(8)	(72)	(273)	(814)
Depreciation	285	232	8	119	4	56	(81)	623
Contr. Proportional EBITDA in Conj.	-		-	-	-	-	163	163
Adjusted EBITDA	2,513	878	26	178	4	137	(10)	3,727

3Q21 Result (R$ million)	Steel	Mining	Logistics (Port)	Logistics (Railway)	Energy	Cement	Corporate Expenses/Elimination	Consolidated

Net Revenue	7,627	2,804	70	508	66	387	(1,216)	10,246
Domestic Market	5,508	971	70	508	66	387	(1,491)	6,020
Foreign Market	2,118	1,833	-	-	-	-	275	4,226
COGS	(4,736)	(1,883)	(53)	(325)	(38)	(229)	1,322	(5,942)
Gross profit	2,891	920	17	183	29	159	106	4,305
DGA/DVE	(302)	(70)	(7)	(34)	(9)	(61)	(281)	(762)
Depreciation	265	193	9	111	4	45	(94)	533
Contr. Proportional EBITDA in Conj.	-		-	-	-	-	220	220
Adjusted EBITDA	2,854	1,043	19	260	24	143	(49)	4,295

Result 4Q20 (R$ million)	Steel	Mining	Logistics (Port)	Logistics (Railway)	Energy	Cement	Corporate Expenses/Elimination	Consolidated

Net Revenue	5,051	4,488	49	408	53	281	(537)	9,794
Domestic Market	3,787	494	49	408	53	280	(907)	4,165
Foreign Market	1,264	3,994	-	-	-	1	370	5,629
COGS	(3,802)	(2,051)	(49)	(290)	(32)	(172)	800	(5,596)
Gross profit	1,249	2,437	0	117	21	110	263	4,198
DGVA	(250)	(46)	6	(33)	(8)	(24)	(387)	(741)
Depreciation	238	809	8	104	4	43	(89)	1,118
Contr. Proportional EBITDA in Conj.	-		-	-	-	-	162	162
Adjusted EBITDA	1,238	3,200	14	189	18	129	(51)	4,738

4Q21
Number of shares in thousands	1,387,524.0
Market Value
Closing Quote (R$/share)	24.99
Closing Quote (US$/ADR)	4.44
Market Value (R$ million)	34,674
Market Value (US$ million)	6,214
Change in period
CSNA3 (BRL)	-13.0%
SID (USD)	-1.6%
Ibovespa (BRL)	-5.54%
Dow Jones (USD)	1.45%
Volume
Daily average (thousand shares)	12,489
Daily average (R$ thousand)	311,315
Daily average (thousand ADRs)	3,922
Daily average (US$ thousand)	17,043
Source: Bloomberg

Parent Company Financial Statements / Statements of Cash Flows – Indirect Method
(R$ thousand)
Code	Description	Current year 12/31/2021	Previous Year 12/31/2020
6.01	Net cash from operating activities	8,850,913	5,841,117
6.01.01	Cash from operations	7,161,886	1,473,189
6.01.01.01	Net income for the period	12,258,628	3,794,295
6.01.01.02	Financial charges in borrowing and financing raised	736,813	983,138
6.01.01.03	Financial charges in borrowing and financing granted	(70,761)	(41,076)
6.01.01.04	Depreciation, amortization and depletion	877,975	888,555
6.01.01.05	Equity in results of affiliated companies	(4,629,144)	(1,892,686)
6.01.01.06	Deferred taxes assets	1,021,298	(1,364,156)
6.01.01.07	Provision for tax, social security, labor, civil and environmental risks	(66,759)	12,896
6.01.01.08	Monetary and exchange variations, net	134,264	811,785
6.01.01.09	Net gains on the sale of the shares of CSN Mineração	(2,472,497)	-
6.01.01.10	Charges on lease liabilities	2,058	3,969
6.01.01.11	Write-off of property, plant and equipment right of use and Intangible assets	-	95
6.01.01.13	Provision for environmental liabilities and decommissioning of assets	(2,912)	15,088
6.01.01.15	Dividends USIMINAS	(194,136)	(3,989)
6.01.01.16	Updated shares – Fair value through profit or loss	11,293	(1,203,068)
6.01.01.17	Accrued/(reversal) for consumption and services	10,591	(35,041)
6.01.01.18	Net gains on the sale of the shares of Usiminas	(505,844)	-
6.01.01.19	Receivables by indemnity	(17,713)	(517,183)
6.01.01.20	Other provisions	68,732	20,567
6.01.02	Changes in assets and liabilities	1,689,027	4,367,928
6.01.02.01	Trade receivables - third parties	(356,578)	228,233
6.01.02.02	Trade receivables - related party	(667,369)	(89,448)
6.01.02.03	Inventory	(4,446,462)	722,270
6.01.02.04	Receivables - related parties/dividends	3,089,909	2,150,111
6.01.02.05	Recoverable taxes	156,253	969,882
6.01.02.06	Judicial deposits	(7,449)	50,058
6.01.02.09	Trade payables	507,739	1,898,790
6.01.02.10	Trade payables – Forfaiting and Drawee risk	3,816,106	(497,451)
6.01.02.11	Payroll and related taxes	4,286	(32,031)
6.01.02.12	Interest received	452,044	234,520
6.01.02.13	Payables to related parties	67,140	(220,464)
6.01.02.15	Interest paid	(819,648)	(1,051,557)
6.01.02.18	Interest received	-	1,590
6.01.02.19	Others	(106,944)	3,425
6.02	Net cash investment activities	2,507,485	(1,122,827)
6.02.01	Investments / AFAC / Acquisitions of Shares	(1,207,390)	(140,815)

Parent Company Financial Statements / Statement of Value Added
(R$ thousand)
Code	Description	Current year 12/31/2021	Previous Year 12/31/2020
7.01	Revenues	33,861,997	17,881,996
7.01.01	Sales of products and rendering of services	30,531,959	17,636,193
7.01.02	Other revenues	3,323,078	222,291
7.01.04	Allowance for (reversal of) doubtful debts	6,960	23,512
7.02	Raw materials acquired from third parties	(21,389,595)	(15,022,653)
7.02.01	Cost of sales and services	(19,409,973)	(12,409,673)
7.02.02	Materials, electric power, outsourcing and other	(1,885,514)	(2,610,611)
7.02.03	Impairment/recovery of assets	(94,108)	(2,369)
7.03	Gross value added	12,472,402	2,859,343
7.04	Retentions	(877,301)	(886,519)
7.04.01	Depreciation, amortization and depletion	(877,301)	(886,519)
7.05	Value added created	11,595,101	1,972,824
7.06	Value added received	5,975,080	3,975,088
7.06.01	Equity in results of affiliates companies	4,629,144	1,892,686
7.06.02	Financial income	1,004,013	1,776,821
7.06.03	Others	341,923	305,581
7.07	Value added for distribution	17,570,181	5,947,912
7.08	Value added distributed	17,570,181	5,947,912
7.08.01	Personnel	1,259,275	1,300,736
7.08.01.01	Salaries and wages	936,738	974,293
7.08.01.02	Benefits	260,277	262,967
7.08.01.03	Severance payment (FGTS)	62,260	63,476
7.08.02	Taxes, fees and contributions	2,762,561	6,112
7.08.02.01	Federal	2,179,008	(286,387)
7.08.02.02	State	531,352	245,613
7.08.02.03	Municipal	52,201	46,886
7.08.03	Remuneration on third-party capital	1,289,717	846,769
7.08.03.01	Interest	759,955	1,452,663
7.08.03.02	Rental	3,764	4,353
7.08.03.03	Other and passive exchange variations	525,998	(610,247)
7.08.04	Remuneration on Shareholders' capital	12,258,628	3,794,295
7.08.04.01	Interest on equity	256,953	-
7.08.04.02	Dividends	2,654,471	901,145
7.08.04.03	Retained earnings (accumulated losses)	9,347,204	2,893,150

Item	Comment	Elizabeth Cimentos	Elizabeth Mineração	Reference
Assets transferred	A payment in the amount of R$201 milion is being carried out in the transaction.	77,768	123,947	(i)
Assets transferred	Refers to financial adjustment of working capital and debt.	(3,914)	(5,116)	(i)
Equity interests issued	Shares issued by Elizabeth Cimentos and acquired by CSN Cimentos.	526,037		(ii)
Purchase price considered for the business combination		599,891	118,831

	Elizabeth Cimentos			Elizabeth Mineração
	Carrying amounts	Fair value adjustments	Total fair value	Carrying amounts	Fair value adjustments	Total fair value
Cash and cash equivalents	52,570		52,570	2,197		2,197
Trade receivables	27,571		27,571	1,027		1,027
Receivables from related parties	96,374		96,374	9,035		9,035
Inventories	44,157		44,157	1,017		1,017
Recoverable taxes	18,616		18,616	931		931
Short-term investments	14,689		14,689
Other assets	17,734		17,734	673		673
Investment				40,653	24,845	65,498
Property, plant and equipment	373,574	161,367	534,941	15,092	77,089	92,181
Intangíible assets	798	59,456	60,254	500	269,385	269,885
Total assets acquired	646,083	220,823	866,906	71,125	371,319	442,444

Borrowings and financing	198,778		198,778	182,402		182,402
Trade payables	22,735		22,735	446		446
Taxes payable	19,202		19,202	37,158		37,158
Debits with related parties				96,350		96,350
Other payables	44,052		44,052	7,257		7,257
Total liabilities assumed	284,767		284,767	323,613		323,613
Net equity acquired	361,316	220,823	582,139	(252,488)	371,319	118,831
Indirect investiment	(40,663)	(24,851)	(65,514)
Net equity acquired	320,653	195,972	516,625	(252,488)	371,319	118,831

Assets acquired	Valuation method	Carrying amounts	Fair value adjustment	Total fair value
Property, plant and equipment	Valued using the "MARKET APPROACH" method, where the fair value of the asset is estimated by comparing it with similar or comparable assets that have been sold or listed for sale in the primary or secondary market.	388,666	238,456	627,122
Mining rights	Evaluated by the MPEEM method that measures the present value of future income to be generated during the remaining useful life of a given asset. Using the analysis of the company's projected results as a reference, the pre-tax cash flows directly attributable to the asset are calculated, as of the base date stipulated in the evaluation.	500	269,385	269,885
Licenses	Valued using the WITH / WITHOUT method, which estimates the intangible value by the difference between discounted cash flow models with and without the asset.	798	59,456	60,254
		389,964	567,297	957,261

		Consolidated		Parent Company
	12/31/2021	12/31/2020	12/31/2021	12/31/2020
Cash and banks
In Brazil	68,638	245,185	58,951	238,509
Abroad	10,007,399	3,899,282	1,438,851	199,994
	10,076,037	4,144,467	1,497,802	438,503

Investments
In Brazil	6,493,832	5,800,119	2,387,463	4,208,622
Abroad	76,611
	6,570,443	5,800,119	2,387,463	4,208,622
	16,646,480	9,944,586	3,885,265	4,647,125

				Consolidated				Parent Company
	Current		Non-current		Current		Non-current
	12/31/2021	12/31/2020	12/31/2021	12/31/2020	12/31/2021	12/31/2020	12/31/2021	12/31/2020
Investments⁽¹⁾	261,673	478,253	15,148		43,398	475,782
Usiminas shares⁽²⁾	2,383,059	3,305,109			2,383,059	3,305,109
Bonds ⁽³⁾			132,523	123,409			132,523	123,409
	2,644,732	3,783,362	147,671	123,409	2,426,457	3,780,891	132,523	123,409

	Number of shares held by CSN in units	Equity interests (%)
Companies	Number of shares held by CSN in units	12/31/2021	12/31/2020	Core business

Direct interest in subsidiaries: full consolidation
CSN Islands VII Corp.	20,001,000	100.00	100.00	Financial transactions
CSN Inova Ventures	50,000	100.00	100.00	Equity interests and Financial transactions
CSN Islands XII Corp.	1,540	100.00	100.00	Financial transactions
CSN Steel S.L.U.	22,042,688	100.00	100.00	Equity interests and Financial transactions
TdBB S.A (*)		100.00	100.00	Equity interests
Sepetiba Tecon S.A.	254,015,052	99.99	99.99	Port services
Minérios Nacional S.A.	141,719,295	99.99	99.99	Mining and Equity interests
Companhia Florestal do Brasil (1)	71,171,281	99.99	99.99	Reforestation
Estanho de Rondônia S.A.	195,454,162	99.99	99.99	Tin Mining
Companhia Metalúrgica Prada	555,142,354	99.99	99.99	Manufacture of containers and distribution of steel products
CSN Mineração S.A.(2)	4,374,779,493	78.24	87.52	Mining
CSN Energia S.A.	43,149	99.99	99.99	Sale of electric power
FTL - Ferrovia Transnordestina Logística S.A. (3)	510,726,198	92.71	92.38	Railroad logistics
Nordeste Logística S.A.	99,999	99.99	99.99	Port services
CSN Inova Ltd.	10,000	100.00	100.00	Advisory and implementation of new development projec
CBSI - Companhia Brasileira de Serviços de Infraestrutura	4,669,986	99.99	99.99	Equity interests and product sales and iron ore
CSN Cimentos S.A.(4)	385,666,665	99.99	90.00	Manufacturing and sale of cement
Berkeley Participações e Empreendimentos S.A. (5)	1,000	100.00	-	Electric power generation and equity interests
CSN Inova Soluções S.A. (5)	999	99.99	-	Equity interests
CSN Participações I (6)	999	99.99	-	Equity interests
CSN Participações II (6)	999	99.99	-	Equity interests
CSN Participações III (6)	999	99.99	-	Equity interests
CSN Participações IV (6)	999	99.99	-	Equity interests
CSN Participações V (6)	999	99.99	-	Equity interests
Indirect interest in subsidiaries: full consolidation
Lusosider Projectos Siderúrgicos S.A.		100.00	100.00	Equity interests and product sales
Lusosider Aços Planos, S. A.		99.99	99.99	Steel and Equity interests
CSN Resources S.A.		100.00	100.00	Financial transactions and Equity interests
Companhia Brasileira de Latas		99.99	99.99	Sale of cans and containers in general and Equity interests
Companhia de Embalagens Metálicas MMSA		99.99	99.99	Production and sale of cans and related activities
Companhia de Embalagens Metálicas - MTM		99.99	99.99	Production and sale of cans and related activities
CSN Steel Holdings 1, S.L.U.		100.00	100.00	Financial transactions, product sales and Equity interests
CSN Productos Siderúrgicos S.L.		100.00	100.00	Financial transactions, product sales and Equity interests
Stalhwerk Thüringen GmbH		100.00	100.00	Production and sale of long steel and related activities
CSN Steel Sections Polska Sp.Z.o.o		100.00	100.00	Financial transactions, product sales and Equity interests
CSN Mining Holding, S.L		78.24	87.52	Financial transactions, product sales and Equity interests
CSN Mining GmbH		78.24	87.52	Financial transactions, product sales and Equity interests
CSN Mining Asia Limited		78.24	87.52	Commercial representation
Lusosider Ibérica S.A.		100.00	100.00	Steel, commercial and industrial activities and equity interests
CSN Mining Portugal, Unipessoal Lda.		78.24	87.52	Commercial and representation of products
Companhia Siderúrgica Nacional, LLC		100.00	100.00	Import and distribution/resale of products
CSN Cimentos S.A.(4)		-	10.00	Manufacturing and sale of cement
Elizabeth Cimentos S.A.(7)		99.98		Manufacturing and sale of cement
Elizabeth Mineração Ltda (7)		99.96		Mining
Direct interest in joint operations: proportionate consolidation
Itá Energética S.A.	253,606,846	48.75	48.75	Electric power generation
Consórcio da Usina Hidrelétrica de Igarapava		17.92	17.92	Electric power consortium

Direct interest in joint ventures: equity method
MRS Logística S.A. (8)	63,377,198	18.64	18.64	Railroad transportation
Aceros Del Orinoco S.A.		31.82	31.82	Dormant company
Transnordestina Logística S.A. (9)	24,670,093	47.26	47.26	Railroad logistics
Equimac S.A	1,395	50.00	50.00	Rental of commercial and industrial machinery and equipment

Indirect interest in joint ventures: equity method
MRS Logística S.A. (6)		14.58	16.30	Railroad transportation

Direct interest in associates: equity method
Arvedi Metalfer do Brasil S.A. (10)	57,224,882	20.00	20.00	Metallurgy and Equity interests

Exclusive funds: full consolidation
Diplic II - Private credit balanced mutual fund		100.00	100.00	Investment fund
Caixa Vértice - Private credit balanced mutual fund		100.00	100.00	Investment fund
VR1 - Private credit balanced mutual fund		100.00	100.00	Investment fund

	12/31/2020	01/31/2021
Assets	Appraisal reports	Close balance
Trade receivables	37,171	54,684
Inventories	134,309	164,460
Other assets	29,186	30,228
Property, plant and equipment	3,151,349	3,129,161
Intangíible assets	8,086	8,086
Liabilities
Trade payables	(253,186)	(278,538)
Other payables current	(42,074)	(34,301)
Lease liabilities	(42,257)	(24,430)
Other provisions	(66,490)	(64,125)
Net assets	2,956,094	2,985,225

Gain on participation in the capital increase	1,060,530
Loss due to dilution of participation with issue of new shares	(231,044)
Equity adjustment by dilution of share percentage	(7,393)
Net gain from the transaction	822,093

Equity in the transaction		9,947,525
Number of share before initial public offering		5,430,057,060
Cost per share		R$ 1.83

Number of shares sold by CSN		377,804,907
Price per share		R$ 8.50

(+) Net cash generated in the transaction		3,211,342
(-) Transaction cost		(46,730)
(=) net cahs reveivable (a)		3,164,612
(-) Cost of shares (b)		(692,115)
(=) Net gain from the transaction (a)+(b)		2,472,497

				12/31/2021				12/31/2020
	Joint-Venture			Joint-Operation	Joint-Venture			Joint-Operation
Equity interest (%)	MRS Logística	Transnordestina Logística	Equimac S.A.	Itá Energética	MRS Logística	Transnordestina Logística	Equimac S.A.	Itá Energética
Equity interest (%)	37.27%	47.26%	50.00%	48.75%	34.94%	47.26%	50.00%	48.75%
Balance sheet
Current Assets
Cash and cash equivalents	1,836,612	1,259	2,077	42,500	1,206,484	1,390	1,351	48,919
Advances to suppliers	44,011	11,486	407	1,254	27,312	1,948		742
Other current assets	1,065,913	55,334	8,862	18,453	823,204	51,793	2,356	89,521
Total current assets	2,946,536	68,079	11,346	62,207	2,057,000	55,131	3,707	139,182
Noncurrent Assets
Other non-current assets	980,861	124,776		19,578	608,878	225,492		20,807
Investments, PP&E and intangible assets	9,614,144	10,145,422	28,964	358,265	8,537,009	9,574,588	11,365	390,672
Total non-current assets	10,595,005	10,270,198	28,964	377,843	9,145,887	9,800,080	11,365	411,479
Total Assets	13,541,541	10,338,277	40,310	440,050	11,202,887	9,855,211	15,072	550,661

Current Liabilities
Borrowings and financing	767,992	228,769	4,041		828,439	241,029
Lease liabilities	383,323				317,526
Other current liabilities	1,513,799	157,946	4,063	40,473	1,117,975	125,794	602	19,721
Total current liabilities	2,665,114	386,715	8,104	40,473	2,263,940	366,823	602	19,721
Noncurrent Liabilities
Borrowings and financing	3,551,278	6,665,700	15,351		2,162,657	6,368,070
Lease liabilities	1,718,366				1,674,594
Other non-current liabilities	759,538	928,254		16,098	788,862	665,653		15,900
Total non-current liabilities	6,029,182	7,593,954	15,351	16,098	4,626,113	7,033,723		15,900
Shareholders’ equity	4,847,245	2,357,608	16,855	383,479	4,312,834	2,454,665	14,470	515,040
Total liabilities and shareholders’ equity	13,541,541	10,338,277	40,310	440,050	11,202,887	9,855,211	15,072	550,661

				01/01/2021 a 12/31/2021				01/01/2020 a 12/31/2020
	Joint-Venture			Joint-Operation		Joint-Venture		Joint-Operation
Equity interest (%)	MRS Logística	Transnordestina Logística	Equimac S.A.	Itá Energética	MRS Logística	Transnordestina Logística	Equimac S.A.	Itá Energética
Equity interest (%)	37.27%	47.26%	50.00%	48.75%	34.94%	47.26%	50.00%	48.75%
Statements of Income
Net revenue	4,427,385	138	15,238	221,023	3,604,965	35	2,308	173,426
Cost of sales and services	(2,919,527)		(13,001)	(81,649)	(2,521,991)		(2,386)	(74,048)
Gross profit	1,507,858	138	2,237	139,374	1,082,974	35	(78)	99,378
Operating (expenses) income	(116,499)	(76,543)	(3,453)	(69,097)	(105,267)	(42,108)	(576)	(67,885)
Financial income (expenses), net	(345,513)	(20,651)		1,274	(330,756)	(19,186)	(4)	(764)
Income before income tax and social contribution	1,045,846	(97,056)	(1,216)	71,551	646,951	(61,259)	(658)	30,729
Current and deferred income tax and social contribution	(346,551)			(24,390)	(216,649)			(10,391)
Profit / (loss) for the year	699,295	(97,056)	(1,216)	47,161	430,302	(61,259)	(658)	20,338

Cash Flow Projection	By 2057
Gross margin	Estimated based on market study to capture cargo and operating costs according to market trend studies
Cost estimate	Study-based costs and market trends
Perpetuity growth rate	Growth rate was not considered as a result of the projection model until the end of the concession.
Discount rate	Range from 5.18% to 7.50% in real terms

			Consolidated			Parent Company
	Land	Buildings	Total	Land	Buildings	Total
Balance at December 31, 2020	97,610	62,264	159,874	94,431	50,568	144,999
Cost	97,610	86,548	184,158	94,431	74,260	168,691
Accumulated depreciation		(24,284)	(24,284)		(23,692)	(23,692)
Balance at December 31, 2020	97,610	62,264	159,874	94,431	50,568	144,999
Depreciation (note 27)		(3,055)	(3,055)		(2,408)	(2,408)
Transfer of property, plant and equipment	4,065	1	4,066
Acquisition of Elizabeth		1,296	1,296
Transfers to other asset groups	(133)	133		(132)	132
Others				(13)		(13)
Balance at December 31, 2021	101,542	60,639	162,181	94,286	48,292	142,578
Cost	101,542	87,977	189,519	94,286	74,392	168,678
Accumulated depreciation		(27,338)	(27,338)		(26,100)	(26,100)
Balance at December 31, 2021	101,542	60,639	162,181	94,286	48,292	142,578

								Consolidated
	Land	Buildings and Infrastructure	Machinery, equipment and facilities	Furniture and fixtures	Construction in progress	Right of use (i)	Other (*)	Total
Balance at December 31, 2020	257,686	2,677,565	12,457,383	26,297	3,680,322	516,668	100,302	19,716,223
Cost	257,686	4,752,412	26,213,225	182,974	3,680,322	634,786	414,705	36,136,110
Accumulated depreciation		(2,074,847)	(13,755,842)	(156,677)		(118,118)	(314,403)	(16,419,887)
Balance at December 31, 2020	257,686	2,677,565	12,457,383	26,297	3,680,322	516,668	100,302	19,716,223
Effect of foreign exchange differences	(932)	(6,402)	(2,627)	1,418	2,076	26	(22)	(6,463)
Acquisitions		22,441	367,050	6,756	2,527,722	62,106	7,197	2,993,272
Capitalized interest (1) (notes 29 and 34)					87,414			87,414
Write-offs (note 28)		(5,051)	(62,606)	(194)	(5,468)	(38,017)	(1,550)	(112,886)
Depreciation (note 27)		(163,911)	(1,845,757)	(7,043)		(68,068)	(27,878)	(2,112,657)
Transfers to other asset categories	(3,683)	265,307	2,347,346	925	(2,634,947)		25,052
Transfers to intangible assets					(29,840)			(29,840)
Right of use - Remesurement						109,109		109,109
Update of the ARO (Asset retirement obligation)		2,357						2,357
Transfers to fixed assets to investment property without cash effect	(4,065)	(1)						(4,066)
Acquisition of Elizabeth	100,489	227,629	278,576	878	16,400		3,173	627,145
Transfers to inventory			261,504					261,504
Others			19		3			22
Balance at December 31, 2021	349,495	3,019,934	13,800,888	29,037	3,643,682	581,824	106,274	21,531,134
Cost	349,495	5,358,388	29,348,048	190,847	3,643,682	754,606	445,870	40,090,936
Accumulated depreciation		(2,338,454)	(15,547,160)	(161,810)		(172,782)	(339,596)	(18,559,802)
Balance at December 31, 2021	349,495	3,019,934	13,800,888	29,037	3,643,682	581,824	106,274	21,531,134

	Parent Company
	Land	Buildings and Infrastructure	Machinery, equipment and facilities	Furniture and fixtures	Construction in progress	Right of use (i)	Other (*)	Total
Balance at December 31, 2020	28,953	1,014,542	7,519,472	8,397	1,652,468	64,659	27,233	10,315,724
Cost	28,953	1,333,345	15,039,880	98,193	1,652,468	107,528	139,806	18,400,173
Accumulated depreciation		(318,803)	(7,520,408)	(89,796)		(42,869)	(112,573)	(8,084,449)
Balance at December 31, 2020	28,953	1,014,542	7,519,472	8,397	1,652,468	64,659	27,233	10,315,724
Acquisitions			37,067	2,997	1,057,095	1,112	43	1,098,314
Capitalized interest (1) (notes 29 and 34)					23,142			23,142
Write-offs (note 28)		(1,906)	(16,668)		(2,151)	(17,073)	(72)	(37,870)
Depreciation (note 27)		(17,832)	(833,274)	(1,909)		(7,674)	(5,565)	(866,254)
Drop down of Cements (note 11.c)	(3,350)	(720,068)	(1,643,144)	(687)	(733,706)	(23,697)	(4,509)	(3,129,161)
Transfers to other asset categories		7,206	1,218,368	291	(1,227,354)		1,489
Transfers to intangible assets					(28,806)			(28,806)
Right of use - Remesurement						(1,331)		(1,331)
Transfers to inventory			135,067					135,067
Others	15		2					17
Balance at December 31, 2021	25,618	281,942	6,416,890	9,089	740,688	15,996	18,619	7,508,842
Cost	25,618	497,690	14,085,249	97,544	740,688	35,633	127,281	15,609,703
Accumulated depreciation		(215,748)	(7,668,359)	(88,455)		(19,637)	(108,662)	(8,100,861)
Balance at December 31, 2021	25,618	281,942	6,416,890	9,089	740,688	15,996	18,619	7,508,842

							Consolidated	Parent Company
	Goodwill	Customer relationships	Software	Trademarks and patents	Rights and licenses (*)	Others	Total	Software	Rights and licenses	Total
Balance at December 31, 2020	3,606,156	278,041	45,665	215,532	3,169,349	2,051	7,316,794	40,236	8,086	48,322
Cost	3,846,563	823,540	182,059	215,532	3,193,787	2,051	8,263,532	131,795	8,088	139,883
Accumulated amortization	(131,077)	(545,499)	(136,394)		(24,438)		(837,408)	(91,559)	(2)	(91,561)
Adjustment for accumulated recoverable value	(109,330)						(109,330)
Balance at December 31, 2020	3,606,156	278,041	45,665	215,532	3,169,349	2,051	7,316,794	40,236	8,086	48,322
Effect of foreign exchange differences		(1,835)	(24)	(1,923)		(18)	(3,800)
Acquisitions and expenditures			3,302		27		3,329
Transfer of property, plant and equipment			29,840				29,840	28,806		28,806
Drop down of Cements (note 11.c)									(8,086)	(8,086)
Amortization (note 27)		(68,294)	(12,343)		(21,843)		(102,480)	(9,313)		(9,313)
Disposals						(63)	(63)
Transfers to other asset categories	39,814				(39,814)
Business Combination Elizabeth (note 4)	83,266				330,164		413,430
Balance at December 31, 2021	3,729,236	207,912	66,440	213,609	3,437,883	1,970	7,657,050	59,729		59,729
Cost	3,969,643	816,206	221,712	213,609	3,484,778	1,970	8,707,918	167,771		167,771
Accumulated amortization	(131,077)	(608,294)	(155,272)		(46,895)		(941,538)	(108,042)		(108,042)
Adjustment for accumulated recoverable value	(109,330)						(109,330)
Balance at December 31, 2021	3,729,236	207,912	66,440	213,609	3,437,883	1,970	7,657,050	59,729		59,729

							Consolidated
		Goodwill		Trademarks		Total
Cash generating unity	Segment	12/31/2021	12/31/2020	12/31/2021	12/31/2020	12/31/2021	12/31/2020
Cash generating unity	Segment	12/31/2021	12/31/2020	12/31/2021	12/31/2020	12/31/2021	12/31/2020
Packaging (1)	Steel	158,748	158,748			158,748	158,748
Long steel (2)	Steel	235,595	235,595	213,609	215,532	449,204	451,127
Mining (3)	Mining	3,236,402	3,196,588			3,236,402	3,196,588
Other Steel (4)	Steel	15,225	15,225			15,225	15,225
Cements (5)	Cement	83,266				83,266
		3,729,236	3,606,156	213,609	215,532	3,942,845	3,821,688

	Packaging	Mining	Other Steelmaking	Flat Steel (*)	Flat Steel (*)	Logistics	Cement
Measurement of recoverable value	Discounted Cash Flow	Discounted Cash Flow	Discounted Cash Flow	Discounted Cash Flow	Discounted Cash Flow	Discounted Cash Flow	Discounted Cash Flow
Cash flow projection	Until 2031 + perpetuity	Until 2064	Until 2031 + perpetuity	Until 2031 + perpetuity	Until 2034 + perpetuity	Until 2027	by 2050
Gross Margin	Gross margin updated based on historical data, impacts of business restructuring and market trends	It reflects projection of costs due to the progress of the mining plan as well as startup and project ramp up. Prices and exchange rates projected according to sectoral reports.	Gross margin updated based on historical data and market trends	Gross margin updated based on historical data and market trends	Gross margin updated based on historical data and market trends	Estimated based on market study to capture cargo and operating costs according to market trend studies	Gross margin updated based on historical data and market trends
Cost atualization	Cost based on historical data of each product and impacts of business restructuring	Update of costs based on historical data, progress of the mining plan as well as startup and project ramp up	Updated costs based on historical data and market trends	Updated costs based on historical data and market trends	Updated costs based on historical data and market trends	Study-based costs and market trends	Study-based costs and market trends
Perpetual growth rate	1% growth.	Without perpetuity	Without growth	Without growth	Without growth	Without perpetuity	Without perpetuity
Discount rate	For metal packaging, the cash flow considered a discount rate around 9,22% p.a. in real terms. For mining, flat steel and other steel (CBSI), cash flows considered a discount rate between 7% and 9.5% p.a. in nominal terms. For the logistic segment, cash flow was discounted using a discount rate between 5.87% and 6.40% p.a. in real terms. The discount rate was based on the weighted average cost of capital ("WACC") that reflects the specific risk of each segment.

			Consolidated
			12/31/2021
Nature	New debts	Repayment	Interest payment
Prepayment (1)	2,613,925	(2,186,191)	(143,237)
Bonds, Perpetual bonds, ACC, CCE and Facility (2)	5,850,504	(11,083,220)	(1,550,747)
BNDES/FINAME, Debentures, NCE and CCB (3)	4,450,903	(4,369,767)	(443,798)
	12,915,332	(17,639,178)	(2,137,782)

Class of shares	12/31/2021				Sales of shares				12/31/2020				12/31/2021	12/31/2020
Class of shares	Quantity	Equity interest (%)	Share price	Closing Balance	Quantity	Share price	Net cash received	Net gain from the transaction	Quantity	Equity interest (%)	Share price	Closing Balance	Profit or loss for the period in 2021 (notes 28 and 29)
USIM3	106,620,851	15.12%	14.51	1,547,069	(535,800)	23.57	12,627	3,569	107,156,651	15.19%	15.69	1,681,288	(121,593)	623,652
USIM5	55,144,456	10.07%	15.16	835,990	(56,000,000)	23.12	1,294,720	502,275	111,144,456	20.29%	14.61	1,623,821	506,890	566,837
				2,383,059			1,307,347	505,844				3,305,109	385,297	1,190,489
PATI3	2,705,726	11.31%	70.34	190,321					2,065,529	11.31%	28.99	59,879	109,254	12,579
				2,573,380			1,307,347	505,844				3,364,988	494,551	1,203,068