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RELATED-PARTY BALANCES AND TRANSACTIONS | 12 Months Ended
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Dec. 31, 2022
Related-party Balances And Transactions |
RELATED-PARTY BALANCES AND TRANSACTIONS |
| 22. | RELATED-PARTY BALANCES AND TRANSACTIONS
| 22.a) | Transactions with holding companies
Vicunha Aços S.A. is the Company’s controlling shareholder, with a 51.24% interest in its voting capital. Rio Iaco Participações S.A. also controls the Company, with a 3.45% interest in CSN’s voting capital. The corporate structure of Vicunha Aços S.A. is as follows:
| (a) | Vicunha Steel S.A. – holds a 67.93% interest in Vicunha Aços S.A.
| (b) | CFL Participações S.A. – holds a 12.82% interest in Vicunha Aços S.A. and a 40% interest in Vicunha Steel S.A.
| (c) | Rio Purus Participações S.A. – holds a 19.25% interest in Vicunha Aços S.A. and a 60% interest in Vicunha Steel S.A.
| · | Liabilities
At a meeting held on December 23, 2022, the Board of Directors approved the payment of interest on equity, considering the rate of 15%. The amount to be paid, net of income tax, will be R$ 0.44868615934 per share. R$304,892 will be paid to Vicunha Aços S.A. and R$20,508 will be paid to Rio Iaco Participações S.A., net of income tax, until May 31, 2023.
| 22.b) | Transactions with subsidiaries, jointly controlled entities, associates, exclusive funds and other related parties
Schedule of transactions with subsidiaries, jointly controlled entities, associates, exclusive funds and other related parties |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Consolidated
|  | 12/31/2022 |  | 12/31/2021
|  | Subsidiaries and associates |  | Joint-ventures and Joint Operation |  | Other related parties |  | Total |  | Subsidiaries and associates |  | Joint-ventures and Joint Operation |  | Other related parties |  | Total
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investments | (1) |  |  |  |  | 1,768,915 |  | 1,768,915 |  |  |  |  |  | 2,579,990 |  | 2,579,990
Trade receivables (note 6) | (2) | 48,236 |  | 1,182 |  | 59,716 |  | 109,134 |  | 8,159 |  | 1,667 |  | 134,570 |  | 144,396
Dividends receivable (note 9) | (3) |  |  | 77,377 |  |  |  | 77,377 |  |  |  | 61,898 |  | 14,980 |  | 76,878
Loans (note 9) | (4) |  |  | 5,383 |  |  |  | 5,383 |  |  |  | 4,511 |  |  |  | 4,511
Other receivables (note 9) |  | 30 |  |  |  | 1,828 |  | 1,858 |  |  |  |  |  | 1,828 |  | 1,828
|  | 48,266 |  | 83,942 |  | 1,830,459 |  | 1,962,667 |  | 8,159 |  | 68,076 |  | 2,731,368 |  | 2,807,603
Non-current Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investments | (1) |  |  |  |  | 140,510 |  | 140,510 |  |  |  |  |  | 132,523 |  | 132,523
Loans (note 9) | (4) | 3,678 |  | 1,381,095 |  |  |  | 1,384,773 |  | 3,626 |  | 1,139,602 |  |  |  | 1,143,228
Actuarial asset (note 9) |  |  |  |  |  | 35,477 |  | 35,477 |  |  |  |  |  | 59,111 |  | 59,111
Other receivables (note 9) | (5) |  |  | 1,484,759 |  |  |  | 1,484,759 |  |  |  | 927,077 |  |  |  | 927,077
|  | 3,678 |  | 2,865,854 |  | 175,987 |  | 3,045,519 |  | 3,626 |  | 2,066,679 |  | 191,634 |  | 2,261,939
|  | 51,944 |  | 2,949,796 |  | 2,006,446 |  | 5,008,186 |  | 11,785 |  | 2,134,755 |  | 2,923,002 |  | 5,069,542
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Trade payables |  |  |  | 93,115 |  | 37,448 |  | 130,563 |  | 21 |  | 62,730 |  | 14,712 |  | 77,463
Accounts payable |  |  |  | 23,555 |  | 24,134 |  | 47,689 |  |  |  | 28,442 |  |  |  | 28,442
Provision for consumption |  |  |  | 61,398 |  |  |  | 61,398 |  |  |  | 22,182 |  |  |  | 22,182
|  |  |  | 178,068 |  | 61,582 |  | 239,650 |  | 21 |  | 113,354 |  | 14,712 |  | 128,087
Non-current Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable |  |  |  | 53,356 |  |  |  | 53,356 |  |  |  | 66,606 |  |  |  | 66,606
|  |  |  | 53,356 |  |  |  | 53,356 |  |  |  | 66,606 |  |  |  | 66,606
|  |  |  | 231,424 |  | 61,582 |  | 293,006 |  | 21 |  | 179,960 |  | 14,712 |  | 194,693
Schedule of transactions with subsidiaries, joint ventures, associates, exclusive funds and other related parties, by transaction - statement of income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Consolidated
|  | 12/31/2022 |  | 12/31/2021
|  | Subsidiaries and associates |  | Joint-ventures and Joint Operation |  | Other related parties |  | Total |  | Subsidiaries and associates |  | Joint-ventures and Joint Operation |  | Other related parties |  | Total
P&L |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales |  | 234,150 |  | 34,924 |  | 2,442,586 |  | 2,711,660 |  | 274,978 |  | 2,250 |  | 3,244,017 |  | 3,521,245
Cost and expenses |  | (66) |  | (1,538,194) |  | (216,110) |  | (1,754,370) |  | (1,065) |  | (1,273,740) |  | (119,500) |  | (1,394,305)
Financial income (expenses) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest (note 28) |  |  |  | 144,355 |  | 29,828 |  | 174,183 |  | 251 |  | 49,293 |  | 32,246 |  | 81,790
Exchange rate variations and monetary, net |  |  |  |  |  | (13,584) |  | (13,584) |  |  |  |  |  |  |  |
Financial investments (1) |  |  |  |  |  | (1,198,164) |  | (1,198,164) |  |  |  |  |  | 94,866 |  | 94,866
|  | 234,084 |  | (1,358,915) |  | 1,044,556 |  | (80,275) |  | 274,164 |  | (1,222,197) |  | 3,251,629 |  | 2,303,596
Consolidated Information:
| (1) | Financial investments: Refers mainly to investments in Usiminas shares, cash and cash equivalents and Bonds with Banco Fibra and government bonds and CDBs with the exclusive funds.
| (2) | Accounts receivables: refers mainly to sales transactions of steel products from the Company to related parties.
| (3) | Dividends receivable: refers to interest on equity from CSN Mineração S.A. in the amount of R$59,469 (R$320,945 as of December 31, 2021) and Mineração Nacional S.A. in the amount of R$14,785 (R$56,344 in December 2021).
| (4) | Loans (Assets): Long term: refers mainly to loan agreements with Transnordestina Logística R$1,384,773 (R$1,123,375 as of December 31, 2021) with an average rate of 125.0% to 130.0% of CDI.
| (5) | Others (Assets): refers advance for future capital increase with Transnordestina Logística S.A. of R$1,484,759 as of December 31, 2022 (R$927,076 as of December 31, 2021).
| 22.c) | Other unconsolidated related parties
| · | CBS Previdência
The Company is its main sponsor, being a not-for-profit civil society established in July 1960 and whose main objective is the payment of benefits complementary to those of the official social security for the participants. As a sponsor, it maintains transactions for payment of contributions and recognition of actuarial liabilities determined in defined benefit plans.
| · | Banco Fibra
Banco Fibra is under the control structure of Vicunha Aços S.A., the major shareholder of the Company and the financial transactions carried out with this bank are limited to movements in checking accounts and financial investments in fixed-income securities.
| · | CSN Foundation
The Company develops socially responsible policies concentrated today in the CSN Foundation, of which it is the founder. Transactions between the parties are related to operational and financial support for the Foundation to conduct social projects developed mainly in the locations where it operates.
| · | Related Parties under the control of a member of the Company’s Management
The following companies are under the control of a member of the Management, which maintain some minor transactions with the Company:
| · | Partifib Projetos Imobiliários Ltda;
| · | Vicunha Imóveis Ltda;
| · | Vicunha Serviços Ltda;
| · | Ibis Participações e Serviços Ltda;
| · | Party Negócios e Participações Ltda;
| · | Jockey Club de São Paulo;
| · | Fibra Sequoia Guarulhos Empreendimentos.
| 22.d) | Key management personnel
The key management personnel with authority and responsibility for planning, directing, and controlling the Company’s activities include members of the Board of Directors and statutory officers. The following is information on the compensation of such personnel and the related balances as of December 31, 2022 and 2021.
Schedule of key management personnel |  |
|  | 12/31/2022 |  | 12/31/2021 |  | 12/31/2020
|  | P&L
Short-term benefits for employees and officers |  | 52,001 |  | 46,747 |  | 40,522
Post-employment benefits |  | 266 |  | 192 |  | 111
|  | 52,267 |  | 46,939 |  | 40,633
| 22.e) | Guarantees
The Company is liable for guarantees of its subsidiaries and jointly controlled entities as follows:
Schedule of guarantees |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Currency |  | Maturities |  | Borrowings | Tax foreclosure | Others | Total
|  |  |  |  | 12/31/2022 |  | 12/31/2021 |  | 12/31/2022 |  | 12/31/2021 |  | 12/31/2022 |  | 12/31/2021 |  | 12/31/2022 |  | 12/31/2021
Transnordestina Logísitca | R$ |  | Up to 09/19/2056 and Indefinite |  | 2,096,291 |  | 2,486,926 |  | 9,365 |  | 12,627 |  | 3,853 |  | 3,384 |  | 2,109,509 |  | 2,502,937
Controladas do Grupo | R$ |  | Up to 12/21/2024 and indefinite |  |  |  | 771 |  | 197 |  | 197 |  | 2,163 |  | 2,754 |  | 2,360 |  | 3,722
CSN Mineração | R$ |  | Up to 12/21/2024 |  | 540,946 |  | 846,284 |  |  |  |  |  |  |  |  |  | 540,946 |  | 846,284
Total in R$ |  |  |  |  | 2,637,237 |  | 3,333,981 |  | 9,562 |  | 12,824 |  | 6,016 |  | 6,138 |  | 2,652,815 |  | 3,352,943
CSN Inova Ventures | US$ |  | 01/28/2028 |  | 1,300,000 |  | 1,300,000 |  |  |  |  |  |  |  |  |  | 1,300,000 |  | 1,300,000
CSN Resources | US$ |  | Up to 04/17/2026 |  | 1,150,000 |  | 1,450,000 |  |  |  |  |  |  |  |  |  | 1,150,000 |  | 1,450,000
CSN Cimentos | US$ |  | Indefinite |  | 115,000 |  |  |  |  |  |  |  |  |  | 1,025,000 |  | 115,000 |  | 1,025,000
Total in US$ |  |  |  |  | 2,565,000 |  | 2,750,000 |  |  |  |  |  |  |  | 1,025,000 |  | 2,565,000 |  | 3,775,000
Lusosider Aços Planos | EUR |  | Indefinite |  |  |  |  |  |  |  |  |  | 75,000 |  | 75,000 |  | 75,000 |  | 75,000
Total in EUR |  |  |  |  |  |  |  |  |  |  |  |  | 75,000 |  | 75,000 |  | 75,000 |  | 75,000
Total in R$ |  |  |  |  | 13,867,929 |  | 15,346,375 |  |  |  |  |  | 396,780 |  | 479,795 |  | 14,264,709 |  | 21,540,463
|  |  |  |  | 16,505,166 |  | 18,680,356 |  | 9,562 |  | 12,824 |  | 402,796 |  | 485,933 |  | 16,917,524 |  | 24,893,406
Accounting Policy
Transactions with related parties were carried out by the Company on terms equivalent to those prevailing in market transactions, observing the price and the usual market conditions. Therefore, these transactions are in conditions that are no less favorable for the Company than those negotiated with third-parties. Transactions between the related parties are eliminated and adjusted to ensure consistency with the practices adopted by The Company. The Company’s related parties are subsidiaries, joint ventures, affiliates, shareholders and their related companies and the key personnel of the Company’s management.

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