6-K 1 siditr1q24_6k.htm 6-K

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of the
Securities Exchange Act of 1934
For the month of May, 2024
Commission File Number 1-14732

COMPANHIA SIDERÚRGICA NACIONAL
(Exact name of registrant as specified in its charter)
National Steel Company
(Translation of Registrant's name into English)
Av. Brigadeiro Faria Lima 3400, 20º andar
São Paulo, SP, Brazil
04538-132
(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports
under cover Form 20-F or Form 40-F. Form 20-F ___X___ Form 40-F _______

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes _______ No ___X____

Quarterly Financial Information – March 31, 2024 – Companhia Siderúrgica Nacional (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) |

Table of Contents

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 |
01/01/2024 to 03/31/2024 | 7
01/01/2023 to 03/31/2023 | 8
Statement of Value Added | 9
Consolidated Financial Statements |
Balance Sheet – Assets | 10
Balance Sheet - Liabilities | 11
Statement of Income | 12
Statement of Comprehensive Income | 13
Statement of Cash Flows | 14
Statement of Changes in Shareholders’ Equity |
01/01/2024 to 03/31/2024 | 15
01/01/2023 to 03/31/2023 | 16
Statement of Value Added | 17
Notes to the financial information | 18
Reports and Statements |
Unqualified Independent Auditors’ Review Report | 63
Officers Statement on the Financial Statements | 65
Officers Statement on Auditor’s Report | 66

Quarterly Financial Information – March 31, 2024 – Companhia Siderúrgica Nacional (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) |

Company Information / Capital Breakdown

Number of Shares (Units) | Current Period 3/31/2024 |
Paid-in Capital |  |
Common | 1,326,093,947 |
Preferred | 0 |
Total | 1,326,093,947 |
Treasury Shares |  |
Common | 0 |
Preferred | 0 |
Total | 0 |

Quarterly Financial Information – March 31, 2024 – Companhia Siderúrgica Nacional (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) |

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

Quarterly Financial Information – March 31, 2024 – Companhia Siderúrgica Nacional (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) |

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

Quarterly Financial Information – March 31, 2024 – Companhia Siderúrgica Nacional (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) |

Parent Company Financial Statements / Statement of Income
(R$ thousand) |

Quarterly Financial Information – March 31, 2024 – Companhia Siderúrgica Nacional (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) |

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

Quarterly Financial Information – March 31, 2024 – Companhia Siderúrgica Nacional (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) |

Parent Company Financial Statements / Statements of Cash Flows – Indirect Method
(R$ thousand)

Quarterly Financial Information – March 31, 2024 – Companhia Siderúrgica Nacional (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) |

Parent Company Financial Statements / Statement of Changes in Equity - 01/01/2024 to 03/31/2024
(R$ thousand) |  |  |  |  |

Quarterly Financial Information – March 31, 2024 – Companhia Siderúrgica Nacional (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) |

Parent Company Financial Statements / Statement of Changes in Equity - 01/01/2023 to 03/31/2023
(R$ thousand) |  |  |  |

Quarterly Financial Information – March 31, 2024 – Companhia Siderúrgica Nacional (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) |

Parent Company Financial Statements / Statement of Value Added
(R$ thousand)

Quarterly Financial Information – March 31, 2024 – Companhia Siderúrgica Nacional (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) |

Consolidated Financial Statements / Balance Sheet - Assets
(R$ thousand) |

Quarterly Financial Information – March 31, 2024 – Companhia Siderúrgica Nacional (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) |

Consolidated Financial Statements / Balance Sheet – Liabilities
(R$ thousand) |

Quarterly Financial Information – March 31, 2024 – Companhia Siderúrgica Nacional (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) |

Quarterly Financial Information – March 31, 2024 – Companhia Siderúrgica Nacional (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) |

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

Quarterly Financial Information – March 31, 2024 – Companhia Siderúrgica Nacional (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) |

Consolidated Financial Statements / Statements of Cash Flows – Indirect Method
(R$ thousand) |  |

Quarterly Financial Information – March 31, 2024 – Companhia Siderúrgica Nacional (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) |

Consolidated Financial Statements / Statements of Changes in Equity - 01/01/2024 to 03/31/2024
(R$ thousand) |  |  |  |  |

Quarterly Financial Information – March 31, 2024 – Companhia Siderúrgica Nacional (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) |

Consolidated Financial Statements / Statements of Changes in Equity - 01/01/2023 to 03/31/2023
(R$ thousand) |  |  |  |

Quarterly Financial Information – March 31, 2024 – Companhia Siderúrgica Nacional (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) |

Consolidated Financial Statements / Statements of Value Added
(R$ thousand)

Quarterly Financial Information – March 31, 2024 – Companhia Siderúrgica Nacional (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) |

EXPLANATORY NOTES TO THE FINANCIAL STATEMENTS
(In thousands of reais, unless otherwise noted)

| 1. | DESCRIPTION OF BUSINESS

Companhia Siderúrgica Nacional (“CSN”, also referred to as “Company” or “Parent company”), is a publicly held company incorporated on April 9, 1941, under the laws of the Federative Republic of Brazil (Companhia Siderúrgica Nacional, its subsidiaries, joint ventures, joint operations and associates are collectively referred to herein as the "Group”). The Company’s registered office is located in São Paulo, SP, Brazil.

CSN is listed on the São Paulo Stock Exchange (B3 S.A. - Brasil, Bolsa, Balcão) and on the New York Stock Exchange (“NYSE”), reporting its information to the Brazilian Securities and Exchange Commission (“CVM”) and to the U.S. Securities and Exchange Commission (“SEC”).

The Group's main operating activities are divided into five 5 segments as follows:

| · | Steel:

The Company’s main industrial facility is the Presidente Vargas Steelworks (“UPV”), located in the city of Volta Redonda, State of Rio de Janeiro. This segment consolidates all operations related to the production, distribution and sale of flat steel, long steel, metallic containers and galvanized steel. In addition to the facilities in Brazil, CSN has commercial operations in the United States and operations in Portugal and Germany in order to gain markets and provide excellent services to final consumers. Its steel is used in home appliances, civil construction, package and automobile industries.

| · | Mining:

The production of iron ore is developed in the cities of Congonhas, Belo Vale and Ouro Preto, State of Minas Gerais, by its subsidiary CSN Mineração S.A. (“CSN Mineração”). The Company’s mining activities also include tin exploration in the state of Rondônia by CSN's subsidiary Estanho de Rondônia S.A. (“ERSA”), to supply the needs of the UPV. The surplus of this raw material is sold to subsidiaries and third parties.

Iron ore is sold basically in the international market, especially in Europe and Asia. The prices charged in these markets are historically cyclical and subject to significant fluctuations over short periods of time, driven by several factors related to global demand, strategies adopted by the major steel producers, and the foreign exchange rate. All these factors are beyond the Company’s control. The ore is transported by rail to the Terminal de Carvão e Minérios from the Itaguaí Port (“TECAR”), a solid bulk terminal, one of the four terminals that comprise the Itaguai Port, located in the State of Rio de Janeiro and from TECAR to customers around the world. The imports of coal and coke are also carried out through this terminal by provision of services by CSN Mineração to CSN.

As a pioneer in the use of technologies that result in the possibility of stacking the tailings generated in the iron ore production process, the Company, since January 2020, has a complete structure for tailings filtration, allowing the dry stacking of the material. The tailings are disposed of in geotechnically controlled piles in areas exclusively intended for stacking, avoiding the use of dams for this purpose.

As a consequence of these measures, decommissioning of dams is the natural path for processing filtered tailings. All of our mining dams are positively certified and comply with the environmental legislation in force.

| · | Cements:

CSN entered the cement market driven by the synergy between this activity and its existing businesses. The cement production unit located next to the UPV facilities, in Volta Redonda/RJ, produces CP-III type cement using slag produced by UPV's own blast furnaces. There is also the exploration of limestone and dolomite at the Arcos/MG unit to meet the needs of the steel industry and the cement factory, as well as the production of clinker at the same unit.

On August 31, 2021, the subsidiary CSN Cimentos S.A. (“CSN Cimentos”) concluded the acquisition of control of Elizabeth Cimentos S.A. and Elizabeth Mineração Ltda., operating in the Northeast region, especially in Paraíba and Pernambuco. On May 1, 2022, Elizabeth Mineração was merged into CSN Cimentos.

Quarterly Financial Information – March 31, 2024 – Companhia Siderúrgica Nacional (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) |

On September 9, 2021, CSN Cimentos entered into the Agreement for the Sale and Purchase of the Shares in LafargeHolcim (Brasil) S.A., for the acquisition of 100% of the shares issued by LafargeHolcim (Brasil) S.A. (“LafargeHolcim”). On September 6, 2022, the acquisition of all shares issued by LafargeHolcim S.A. was completed, with the corporate name of LafargeHolcim being changed to "CSN Cimentos Brasil S.A.", which became controlled by CSN Cimentos. The Company's main activities are: production, industry and general trade of cement, lime, mortar, minerals and metals in general and complementary products for civil construction, in natura with industrial plants, warehouses and branches across a large part of the national territory.

On August 31, 2023, the Extraordinary General Meeting approved the incorporation of CSN Cimentos by CSN Cimentos Brasil with the consequent transfer of all assets, assets (movable and immovable), rights and obligations, in accordance with the terms of the “Protocol and Justification of the Incorporation of CSN Cimentos S.A. by CSN Cimentos Brasil S.A.”. Thus, CSN Cimentos was extinguished, all its shares were canceled and, in replacement, its shareholders received shares in CSN Cimentos Brasil. All activities carried out by CSN Cimentos are now carried out by CSN Cimentos Brasil. The Valuation Report of CSN Cimentos' equity was prepared on June 30, 2023, being the basis for defining a capital increase in CSN Cimentos Brasil in the amount of R$2,383,276.

| · | Logistics:

Railroads:

CSN has interests in three railroad companies: MRS Logística S.A. (“MRS”), which manages the former Southeast Railway System of Rede Ferroviária Federal S.A. (“RFFSA”), Transnordestina Logística S.A. (“TLSA”) and FTL - Ferrovia Transnordestina Logística S.A. (“FTL”), which holds the concession to operate the former Northeast Railway System of RFFSA, in the States of Maranhão, Piauí, Ceará, Rio Grande do Norte, Paraíba, Pernambuco, Alagoas - stretches from São Luís to Altos, Altos to Fortaleza, Fortaleza to Sousa, Sousa to Recife/Jorge Lins, Recife/Jorge Lins to Salgueiro, Jorge Lins to Propriá, Paula Cavalcante to Cabedelo, Itabaiana to Macau (Mesh I) and TLSA is responsible for the stretches from Eliseu Martins-Trindade, Trindade-Salgueiro, Salgueiro-Missão Velha and Missão Velha-Pecém (Mesh II), under construction.

Ports:

The Company operates in the State of Rio de Janeiro, by means of its subsidiary Sepetiba Tecon S.A., the Container Terminal (“TECON”) and by means of its subsidiary CSN Mineração, the TECAR, both located at the Itaguaí Port. Established in the harbor of Sepetiba, the mentioned port has a privileged highway, railroad, and maritime access.

TECON is responsible for the movement and storage of containers, vehicles, steel products, general cargo, among other products, and TECAR performs the operational activities of loading and unloading of solid bulk ships, storage and distribution (road and rail) of coal, coke, petroleum coke, clinker, zinc concentrate, sulfur, iron ore and other bulk, intended for the seaborne market, for our own operation and for different customers.

| · | Energy:

Since the energy supply is fundamental in CSN”s production process, the Company has electricity generation assets to mitigate costs, aiming at greater competitiveness.

On June 30, 2022, the Company's subsidiaries, CSN Cimentos and CSN Energia S.A. ("CSN Energia"), completed the acquisition of Santa Ana Energética S.A. (“Santa Ana”), as well as Topázio Energética S.A. ("Topázio") and, indirectly, Brasil Central Energia Ltda. ("BCE"), a subsidiary of Topázio, under the terms of the Share Purchase Agreement entered into on April 8, 2022 with Brookfield Americas Infrastructure (Brazil Power) Fundo de Investimento em Participações Multiestratégia, private equity fund managed by Brookfield Brasil Asset Management Investimentos Ltda. On October 7, 2022, subsidiaries CSN Mineração and CSN Energia S.A. concluded the acquisition of 100% of the shares of Companhia Energética Chapecó – CEC, holder of the grant of Quebra-Queixo Hydroelectric Power Plant (“Chapecó”), as provided for in the Agreement for the Purchase and Sale of Shares and Other Covenants and in the Private Instrument of Assignment of Rights and Obligations entered into on July 1, 2022 and July 25, 2022, respectively.

In July 2022, the Company won the auction held by the State of Rio Grande do Sul, for the sale of 100% of the shares in its possession, 6,381,908 equivalent to 66.23% of the share capital, of Companhia Estadual de Energia Elétrica - CEEE-G, as part of the CEEE Group privatization program, in accordance with State Law 15.298/19.On October 21, 2022, the transaction was completed with payment by the company of the auction winning price. On December 22, 2022, the acquisition of Eletrobras' 32.74% interest in CEEE-G. On November 22, 2023, the post-takeover bid auction was settled, in which CFB acquired 1,271

Quarterly Financial Information – March 31, 2024 – Companhia Siderúrgica Nacional (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) |

(one thousand two hundred and seventy-one) common shares and 338 (three hundred and thirty-eight) preferred shares issued by CEEE-G, was concluded the Company currently holds 99% of the share capital of CEEE-G.

| · | Going Concern:

Management understands that the Company has adequate resources to continue its operations. Accordingly, the Company's interim financial information for the period ended March 31, 2024, have been prepared on a going concern basis.

| 2. | BASIS OF PREPARATION AND STATEMENT OF COMPLIANCE

| 2.a) | Statement of compliance

The parent company and consolidated interim financial information (“interim financial information”) have been prepared and are being presented in accordance with the accounting practices adopted in Brazil issued by the Brazilian Accounting Pronouncements Committee (“CPC”), approved by the Brazilian Securities and Exchange Commission (“CVM”) and by the Brazilian Federal Accounting Council (“CFC”), and in accordance with the International Financial Reporting Standards (“IFRS”) issued by the International Accounting Standard Board (“IASB”) and disclose all the relevant information of the interim financial information, and only this information, which corresponds to that used by the Company's management in its activities. The consolidated interim financial information are identified as “Consolidated” and the parent company's individual interim financial information are identified as “Parent Company”.

| 2.b) | Basis of presentation

The interim financial statements were prepared based on the historical cost and were adjusted to reflect: (i) the fair value measurement of certain financial assets and liabilities (including derivative instruments), as well as pension plan assets; and (ii) impairment losses. When IFRS and CPCs allows the option between cost or another measurement criterion, the cost of acquisition criterion was used.

The preparation of these interim financial statements requires Management to use certain accounting estimates, judgments and assumptions that affect the application of Accounting Polices and the amounts reported on the balance sheet date of assets, liabilities, income, and expenses may differ from actual future results. The assumptions used are based on history and other factors considered relevant and are reviewed by the Company’s management.

The interim financial information has been prepared and is being presented in accordance with CPC 21 (R1) - “Interim Financial Reporting” and IAS 34 - “Interim Financial Reporting”, consistently with the standards issued by the CVM. This interim financial information does not include all requirements of annual or full financial statements and, accordingly, should be read in conjunction with the Company’s financial statements for the year ended December 31, 2023.

The new standards adopted for financial years beginning on or after January 1, 2024 are described in Note 2.e.

Therefore, in this interim financial information the following notes are not repeated, either due to redundancy or to the materiality in relation to those already presented in the annual financial statements:

Note 18 - Installment taxes

Note 29 - Employee benefits

Note 30 - Commitments

Note 31 - Insurance

The consolidated financial statements were approved by Board of Directors on May 09, 2024.

| 2.c) | Functional currency and presentation currency

The accounting records included in the interim financial statements of each of the Company’s subsidiaries are measured using the currency of the principal of the economic environment in which each subsidiary operates (“the functional currency”). The consolidated and parent company interim financial statements are presented in BRL (reais), which is the Company’s functional and reporting currency.

Quarterly Financial Information – March 31, 2024 – Companhia Siderúrgica Nacional (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) |

Foreign currency transactions are translated into the functional currency using the exchange rates prevailing on the transaction or valuation dates, in which the items are remeasured. The balances of the asset and liability accounts are converted using the exchange rate on the balance sheet date. As of March 31, 2024, US$1.00 was equivalent to BRL 4.9962 (BRL 4.8413on December 31, 2023) and €1.00 was equivalent to BRL 5.3979 (BRL 5.3516 on December 31, 2023), according to the rates obtained from Central Bank of Brazil website.

| 2.d) | Statement of value added

Pursuant to Law 11,638/07, the presentation of the statement of added value is required for all publicly held companies. These statements were prepared in accordance with CPC 09 - Added Value Statement. The IFRS does not require the presentation of this statement and for IFRS purposes is presented as additional information.

| 2.e) | Adoption of new requirements, standards, amendments and interpretations

The new requirements, standards, amendments and interpretations that came into force for fiscal years starting on January 1, 2024, are:

• Amendment to IFRS 16 – Lease Liability in a Sale and Leaseback;

• Amendments to IAS 1 – Classification of liabilities as "Current" or "Non-Current";

• Amendments to IAS 7 and IFRS 7 – Disclosures on drawn-risk operations.

In relation to the aforementioned changes, the Company did not identify significant impacts that would alter its disclosure in terms of the adoption and interpretation of the rules; with the exception of the amendments to IAS 7 and IFRS 7, as a result of the addition of items 44F and 44H to Technical Pronouncement CPC 03 (R2) – Cash flow statements, which provide greater detail on drawn risk operations (also referred to as "forfaiting" throughout the report, in its note 15.a. Suppliers - Drawn risk.

| 3. | CASH AND CASH EQUIVALENTS

|  |  | Consolidated |  |  |  | Parent Company
| 03/31/2024 |  | 12/31/2023 |  | 03/31/2024 |  | 12/31/2023
Cash and banks |  |  |  |  |  |  |
Brazil | 707,038 |  | 103,383 |  | 25,824 |  | 73,819
Abroad | 7,242,848 |  | 10,797,192 |  | 16,259 |  | 140,400
| 7,949,886 |  | 10,900,575 |  | 42,083 |  | 214,219
Investments |  |  |  |  |  |  |
Brazil | 5,697,317 |  | 4,227,916 |  | 1,966,022 |  | 2,052,232
Abroad | 1,211,162 |  | 917,727 |  | 1,401 |  | 3,619
| 6,908,479 |  | 5,145,643 |  | 1,967,423 |  | 2,055,851
| 14,858,365 |  | 16,046,218 |  | 2,009,506 |  | 2,270,070

Our investments are basically in private and public securities with yields linked to the variation of Interbank Deposit Certificates (CDI) and repo operations backed by National Treasury Notes, respectively. The Company invests part of the funds through exclusive investment funds which have been consolidated in this interim financial information.

The financial resources available abroad, held in dollars and euros, are invested in private securities, in banks considered by the Administration to be first-rate and are remunerated at pre-fixed rates.

Quarterly Financial Information – March 31, 2024 – Companhia Siderúrgica Nacional (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) |

| 4. | FINANCIAL INVESTMENTS

|  |  |  |  |  |  |  | Consolidated |  |  |  |  |  |  |  | Parent Company
|  | Current |  | Non-current |  | Current |  | Non-current
|  | 03/31/2024 |  | 12/31/2023 |  | 03/31/2024 |  | 12/31/2023 |  | 03/31/2024 |  | 12/31/2023 |  | 03/31/2024 |  | 12/31/2023
Investments (1) |  | 41,259 |  | 39,800 |  | 137,428 |  | 139,949 |  | 32,745 |  | 31,505 |  |  |  |
Usiminas shares (2) |  | 1,551,033 |  | 1,493,204 |  |  |  |  |  | 1,551,033 |  | 1,493,204 |  |  |  |
Bonds (3) |  |  |  |  |  | 114,912 |  | 111,350 |  |  |  |  |  | 114,913 |  | 111,350
|  | 1,592,292 |  | 1,533,004 |  | 252,340 |  | 251,299 |  | 1,583,778 |  | 1,524,709 |  | 114,913 |  | 111,350

| (1) | These are restricted financial investments and linked to a Bank Deposit Certificate (CDB) to guarantee a letter of guarantee from financial institutions and financial investments in Public Securities (LFT - Letras Financeiras do Tesouro) managed by their exclusive funds. As of March 31, 2024, R$123,870 is restricted as collateral for a liability of the subsidiary CSN Cimentos Brasil and its redemption period is undetermined.

| (2) | A guarantee (fiduciary alienation) was constituted over a portion of the shares of Usiminas Siderúrgica de Minas Gerais S.A. held by the Company.

| (3) | Bonds with banco Fibra maturing in February 2028 (see note 20.a).

5. TRADE RECEIVABLES

|  |  | Consolidated |  |  |  | Parent Company
| 03/31/2024 |  | 12/31/2023 |  | 03/31/2024 |  | 12/31/2023
Trade receivables |  |  |  |  |  |  |
Third parties |  |  |  |  |  |  |
Domestic market | 1,726,575 |  | 1,525,773 |  | 952,683 |  | 872,666
Foreign market | 723,986 |  | 1,801,677 |  | 34,364 |  | 31,176
| 2,450,561 |  | 3,327,450 |  | 987,047 |  | 903,842
Allowance for doubtful debts | (249,600) |  | (226,053) |  | (141,248) |  | (119,558)
| 2,200,961 |  | 3,101,397 |  | 845,799 |  | 784,284
Related parties (note 20 a) | 285,821 |  | 168,367 |  | 1,300,828 |  | 1,086,083
| 2,486,782 |  | 3,269,764 |  | 2,146,627 |  | 1,870,367

The composition of the gross balance of accounts receivable from third party consumers is shown as follows:

|  |  |  | Consolidated |  |  |  | Parent Company
|  | 03/31/2024 |  | 12/31/2023 |  | 03/31/2024 |  | 12/31/2023
Current |  | 2,113,493 |  | 2,938,483 |  | 827,406 |  | 720,879
Past-due up to 30 days |  | 81,106 |  | 129,846 |  | 8,540 |  | 55,754
Past-due up to 180 days |  | 90,000 |  | 36,568 |  | 54,593 |  | 31,248
Past-due over 180 days |  | 165,962 |  | 222,553 |  | 96,508 |  | 95,961
|  | 2,450,561 |  | 3,327,450 |  | 987,046 |  | 903,842

The changes in estimated credit losses are as follows:

|  |  |  | Consolidated |  |  |  | Parent Company
|  | 03/31/2024 |  | 12/31/2023 |  | 03/31/2024 |  | 12/31/2023
Opening balance |  | (226,053) |  | (232,830) |  | (119,558) |  | (122,872)
(Loss)/Reversal estimated |  | (27,519) |  | (2,959) |  | (24,304) |  | (251)
Recovery and write-offs of receivables |  | 3,972 |  | 9,736 |  | 2,614 |  | 3,565
Closing balance |  | (249,600) |  | (226,053) |  | (141,248) |  | (119,558)

Quarterly Financial Information – March 31, 2024 – Companhia Siderúrgica Nacional (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) |

| 6. | INVENTORIES

|  |  | Consolidated |  |  |  | Parent Company
| 03/31/2024 |  | 12/31/2023 |  | 03/31/2024 |  | 12/31/2023
Finished goods | 3,800,705 |  | 3,856,491 |  | 2,332,038 |  | 2,121,712
Work in progress | 3,379,087 |  | 3,316,396 |  | 1,677,846 |  | 1,622,987
Raw materials | 2,673,221 |  | 2,607,079 |  | 1,870,289 |  | 1,820,109
Storeroom supplies | 1,255,782 |  | 1,225,963 |  | 575,088 |  | 566,961
Advances to suppliers | 104,472 |  | 85,623 |  | 90,932 |  | 61,119
Provision for losses | (91,561) |  | (121,871) |  | (28,977) |  | (24,304)
| 11,121,706 |  | 10,969,681 |  | 6,517,216 |  | 6,168,584
Classified: |  |  |  |  |  |  |
Current | 9,619,777 |  | 9,557,578 |  | 6,517,216 |  | 6,168,584
Non-current (1) | 1,501,929 |  | 1,412,103 |  |  |  |
| 11,121,706 |  | 10,969,681 |  | 6,517,216 |  | 6,168,584

| (1) | Long-term iron ore inventories that will be used after the construction of the processing plant, which will produce pellet feed.

The changes in estimated losses on inventories are as follows:

|  |  |  | Consolidated |  |  |  | Parent Company
|  | 03/31/2024 |  | 12/31/2023 |  | 03/31/2024 |  | 12/31/2023
Opening balance |  | (121,871) |  | (96,493) |  | (24,304) |  | (16,124)
Reversal/(Estimated losses) of inventories with low turnover and obsolescence | 30,310 |  | (25,378) |  | (4,673) |  | (8,180)
Closing balance |  | (91,561) |  | (121,871) |  | (28,977) |  | (24,304)

| 7. | RECOVERABLE TAXES

|  |  | Consolidated |  |  |  | Parent Company
| 03/31/2024 |  | 12/31/2023 |  | 03/31/2024 |  | 12/31/2023
State Value-Added Tax | 1,773,830 |  | 1,492,575 |  | 1,280,985 |  | 1,015,444
Brazilian federal contributions (1) | 2,727,384 |  | 2,729,606 |  | 1,766,236 |  | 1,592,694
Other taxes | 62,100 |  | 59,316 |  | 61,310 |  | 68,391
| 4,563,314 |  | 4,281,497 |  | 3,108,531 |  | 2,676,529
Classified: |  |  |  |  |  |  |
Current | 2,091,628 |  | 1,744,074 |  | 1,282,740 |  | 855,663
Non-current | 2,471,686 |  | 2,537,423 |  | 1,825,791 |  | 1,820,866
| 4,563,314 |  | 4,281,497 |  | 3,108,531 |  | 2,676,529

Quarterly Financial Information – March 31, 2024 – Companhia Siderúrgica Nacional (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) |

| 8. | OTHER CURRENT AND NON-CURRENT ASSETS

Other current and non-current assets are as follows:

|  |  |  |  |  |  | Consolidated |  |  |  |  |  |  |  | Parent Company
| Current |  | Non-current |  | Current |  | Non-current
| 03/31/2024 |  | 12/31/2023 |  | 03/31/2024 |  | 12/31/2023 |  | 03/31/2024 |  | 12/31/2023 |  | 03/31/2024 |  | 12/31/2023
Judicial deposits (note 18) |  |  |  |  | 494,511 |  | 491,882 |  |  |  |  |  | 204,946 |  | 210,833
Derivative financial instruments (note 13.a) | 985,998 |  | 32,211 |  |  |  |  |  | 9,808 |  | 12,122 |  |  |  |
Dividends receivable | 180,917 |  | 185,178 |  |  |  |  |  | 579,327 |  | 562,938 |  |  |  |
Prepaid expenses | 368,543 |  | 416,556 |  | 68,569 |  | 83,557 |  | 262,904 |  | 248,472 |  | 55,485 |  | 64,652
Prepaid expenses | 368,543 |  | 416,556 |  | 28,218 |  | 44,027 |  | 262,904 |  | 248,472 |  | 23,779 |  | 33,645
Actuarial asset (note 20.a) |  |  |  |  | 40,351 |  | 39,530 |  |  |  |  |  | 31,706 |  | 31,007
Receivables from related parties | 13,596 |  | 13,625 |  | 3,511,956 |  | 3,451,991 |  | 366,526 |  | 222,467 |  | 4,001,732 |  | 3,889,118
Loans with related parties (note 20.a) | 5,287 |  | 5,316 |  | 1,719,377 |  | 1,659,412 |  | 5,287 |  | 5,316 |  | 2,209,145 |  | 2,096,536
Other receivables from related parties (note 20.a) | 8,309 |  | 8,309 |  | 1,792,579 |  | 1,792,579 |  | 361,239 |  | 217,151 |  | 1,792,587 |  | 1,792,582
Other assets | 319,112 |  | 279,492 |  | 1,263,221 |  | 1,283,061 |  | 46,357 |  | 34,478 |  | 1,228,440 |  | 1,235,145
Trading securities | 5,797 |  | 7,198 |  |  |  |  |  | 5,648 |  | 7,054 |  |  |  |
Compulsory loans from Eletrobrás |  |  |  |  | 62,458 |  | 62,913 |  |  |  |  |  | 59,688 |  | 60,136
Employee debts | 84,805 |  | 61,332 |  |  |  |  |  | 40,271 |  | 27,166 |  |  |  |
Receivables by indemnity (1) | 106,405 |  | 106,405 |  | 1,167,671 |  | 1,173,922 |  |  |  |  |  | 1,167,671 |  | 1,173,922
Term of Agreement GSF DFESA (2) | 14,264 |  | 14,264 |  | 13,075 |  | 16,642 |  |  |  |  |  |  |  |
Advances from Suppliers | 20,534 |  | 10,158 |  |  |  |  |  |  |  |  |  |  |  |
Others | 87,307 |  | 80,135 |  | 20,017 |  | 29,584 |  | 438 |  | 258 |  | 1,081 |  | 1,087
| 1,868,166 |  | 927,062 |  | 5,338,257 |  | 5,310,491 |  | 1,264,922 |  | 1,080,477 |  | 5,490,603 |  | 5,399,748

| (1) | In December 2023, R$106,405 was recognized in connection with an income tax dispute abroad. In April 2023, the subsidiary CEEE-G recognized the amount of R$ 37,486, referring to the Taxes and Contributions Amounts (VIC) of the Hydroelectric Plants committed to Physical Guarantee Quota Contracts (CCGFs).In the 3rd quarter of 2022, the uncontroversial amount of R$422,254 was recognized in the same account, as a refund of the amounts overpaid for railroad freight from April 1994 to March 1994 and March 1996 to the company RFFSA, and that after its extinction, the Federal Government became a defendant. Additionally, in 2020, a credit was recognized, which is a net, certain and payable amount, arising from the final and unappealable decision of a court in favor of the Company, due to losses and damages arising from voltage sinking in the energy supply in the periods from January/1991 to June/2002, in the amount of R$ 561,466.

| (2) | On February 8, 2022, ANEEL approved the renegotiation of the hydrological risk (GSF - Generation Scaling Factor) of the Dona Francisca HPP, according to Authorizing Resolution No. 11,132. In this sense, the extension of the Plant Concession was granted in 1,485 days, passing the end of the granting of 02/28/2033 to 09/21/2037. Once this stage was overcome, the Term of Agreement signed between CEEE-G and Dona Francisca Energética S.A. became effective - DFESA, a contract that redistributes the risks of the Consortium, with the physical guarantee of the Plant, the hydrological risk and the engineering risk in proportion to the Dona Francisca's participation (85%) and CEEE-G (15%) in the project, see explanatory note no. 1.1.2. In view of this redistribution, DFESA will pay the CEEE-G the amount of R$ 57,056, in 48 installments, to be paid, as of March 2022, with credit updating by 100% of the CDI, already 26 (twenty-six) installments were received.

| 9. | BASIS OF CONSOLIDATION AND INVESTMENTS

The information related to the activities of jointly controlled subsidiaries, joint operations, associates and other investments did not change in relation to what was disclosed in the Company's financial statements as of December 31, 2023. Therefore, Management decided not to repeat them in the accounting information interim of March 31, 2024.

Quarterly Financial Information – March 31, 2024 – Companhia Siderúrgica Nacional (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) |

|  | Equity interests (%) |  |
Companies |  | 03/31/2024 |  | 12/31/2023 |  | Core business
Direct interest in subsidiaries: full consolidation |  |  |  |  |  |
CSN Islands VII Corp. |  | 100.00 |  | 100.00 |  | Financial transactions
CSN Inova Ventures |  | 100.00 |  | 100.00 |  | Equity interests and Financial transactions
CSN Islands XII Corp. |  | 100.00 |  | 100.00 |  | Financial transactions
CSN Steel S.L.U. |  | 100.00 |  | 100.00 |  | Equity interests and Financial transactions
TdBB S.A (*) |  | 100.00 |  | 100.00 |  | Equity interests
Sepetiba Tecon S.A. |  | 99.99 |  | 99.99 |  | Port services
Minérios Nacional S.A. |  | 99.99 |  | 99.99 |  | Mining and Equity interests
Companhia Florestal do Brasil |  | 99.99 |  | 99.99 |  | Reforestation
Estanho de Rondônia S.A. |  | 99.99 |  | 99.99 |  | Tin Mining
Companhia Metalúrgica Prada |  | 99.89 |  | 99.89 |  | Manufacture of containers and distribution of steel products
CSN Mineração S.A. |  | 79.75 |  | 79.75 |  | Mining
CSN Energia S.A. |  | 99.99 |  | 99.99 |  | Sale of electric power
FTL - Ferrovia Transnordestina Logística S.A. |  | 92.71 |  | 92.71 |  | Railroad logistics
Nordeste Logística S.A. |  | 99.99 |  | 99.99 |  | Port services
CSN Inova Ltd. |  | 100.00 |  | 100.00 |  | Advisory and implementation of new development projec
CBSI - Companhia Brasileira de Serviços de Infraestrutura |  | 99.99 |  | 99.99 |  | Equity interests and product sales and iron ore
CSN Cimentos Brasil S.A. |  | 99.99 |  | 99.99 |  | Manufacturing and sale of cement
Berkeley Participações e Empreendimentos S.A. |  | 100.00 |  | 100.00 |  | Electric power generation and equity interests
CSN Inova Soluções S.A. |  | 99.99 |  | 99.99 |  | Equity interests
CSN Participações I |  | 99.90 |  | 99.99 |  | Equity interests
Circula Mais Serviços de Intermediação Comercial S.A. |  | 0.10 |  | 0.01 |  | Commercial intermediation for the purchase and sale of assets and materials in general
CSN Participações III |  | 99.90 |  | 99.99 |  | Equity interests
CSN Participações IV |  | 99.90 |  | 99.99 |  | Equity interests
CSN Participações V |  | 99.90 |  | 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. |  | 100.00 |  | 99.99 |  | Steel and Equity interests
CSN Resources S.A. |  | 100.00 |  | 100.00 |  | Financial transactions and Equity interests
Companhia Brasileira de Latas |  | 99.89 |  | 99.88 |  | Sale of cans and containers in general and Equity interests
Companhia de Embalagens Metálicas MMSA |  | 99.88 |  | 99.87 |  | Production and sale of cans and related activities
Companhia de Embalagens Metálicas - MTM |  | 99.88 |  | 99.87 |  | Production and sale of cans and related activities
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.U. |  | 79.75 |  | 79.75 |  | Financial transactions, product sales and Equity interests
CSN Mining GmbH |  | 79.75 |  | 79.75 |  | Financial transactions, product sales and Equity interests
CSN Mining Asia Limited |  | 79.75 |  | 79.75 |  | Commercial representation
Lusosider Ibérica S.A. |  | 100.00 |  | 100.00 |  | Steel, commercial and industrial activities and equity interests
CSN Mining Portugal, Unipessoal Lda. |  | 79.75 |  | 79.75 |  | Commercial and representation of products
Companhia Siderúrgica Nacional, LLC |  | 100.00 |  | 100.00 |  | Import and distribution/resale of products
Elizabeth Cimentos S.A. |  | 99.98 |  | 99.98 |  | Manufacturing and sale of cement
Santa Ana Energética S.A. |  | 99.98 |  | 99.99 |  | Electric power generation
Topázio Energética S.A. |  | 99.98 |  | 99.99 |  | Electric power generation
Brasil Central Energia Ltda. |  | 99.98 |  | 99.99 |  | Electric power generation
Circula Mais Serviços de Intermediação Comercial S.A. |  | 99.90 |  | 99.99 |  | Commercial intermediation for the purchase and sale of assets and materials in general
Metalgráfica Iguaçu S.A |  | 99.89 |  | 99.89 |  | Metal packaging manufacturing
Companhia Energética Chapecó |  | 79.75 |  | 79.75 |  | Electric power generation
Companhia Estadual de Geração de Energia Elétrica - CEEE-G |  | 98.98 |  | 98.98 |  | Electric power generation
Ventos de Vera Cruz S.A. |  | 98.97 |  | 98.97 |  | Electric power generation
Ventos de Curupira S.A |  | 98.97 |  | 98.97 |  | Electric power generation
Ventos de Povo Novo S.A. |  | 98.97 |  | 98.97 |  | Electric power generation
MAZET - Maschinenbau und Zerspanungstechnik Unterwellwnborn GmbH |  | 100.00 |  | 100.00 |  | Production and sale of long steel and related activities
CSN Mining Internacional GmbH |  | 79.75 |  | 79.75 |  | Commercial and representation of products
CSN International Steel GmbH (1) |  | 100.00 |  |  |  | Commercial and representation of products
Direct interest in joint operations: proportionate consolidation |  |  |  |  |  |
Itá Energética S.A. |  | 48.75 |  | 48.75 |  | Electric power generation
Consórcio da Usina Hidrelétrica de Igarapava |  | 17.92 |  | 17.92 |  | Electric power consortium
Consórcio Itaúba |  | 36.60 |  | 36.60 | ; | Electric power generation
Consórcio Passo Real |  | 46.97 |  | 46.97 |  | Electric power generation
Consórcio Dona Francisca |  | 15.00 |  | 15.00 |  | Electric power generation
Consórcio Ventos de Curupira |  | 99.99 |  | 99.99 |  | Electric power generation
Direct interest in joint ventures: equity method |  |  |  |  |  |
MRS Logística S.A. |  | 18.75 |  | 18.64 |  | Railroad transportation
Aceros Del Orinoco S.A. (*) |  | 31.82 |  | 31.82 |  | Dormant company
Transnordestina Logística S.A. |  | 48.03 |  | 48.03 |  | Railroad logistics
Equimac S.A |  | 50.00 |  | 50.00 |  | Rental of commercial and industrial machinery and equipment
Consórcio Itaúba |  | 63.40 |  | 63.40 |  | Electric power generation
Consórcio Passo Real |  | 53.03 |  | 53.03 |  | Electric power generation
Indirect interest in joint ventures: equity method |  |  |  |  |  |
MRS Logística S.A. |  | 14.95 |  | 14.86 |  | Railroad transportation
Direct interest in associates: equity method |  |  |  |  |  |
Arvedi Metalfer do Brasil S.A. |  | 20.00 |  | 20.00 |  | Metallurgy and Equity interests
Panatlantica S.A. (2) |  | 29.91 |  |  |  | Steel
Indirect interest in affiliates: equity method |  |  |  |  |  |
Jaguari Energética S.A. |  | 10.50 |  | 10.39 |  | Electric power generation
Chapecoense Geração S.A. (3) |  | 9.00 |  | 8.91 |  | Electric power generation
Companhia Energética Rio das Antas - Ceran (3) |  | 30.00 |  | 29.69 |  | Electric power generation
Ventos do Sul Energia S.A. (3) |  | 10.00 |  | 9.90 |  | Electric power generation
Foz Chapecó Energia S.A. (3) |  | 9.00 |  | 8.91 |  | Electric power generation
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

Quarterly Financial Information – March 31, 2024 – Companhia Siderúrgica Nacional (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) |

(*) Dormant companies.

(1) On March 7, 2024, CSN International Steel GmbH was incorporated by the Company's direct subsidiary, CSN Steel S.L.U

(2) On January 15, 2024, Panatlântica started to be valued using the equity method on account of the acquisition of 18.61% of the shares at a total price of R$ 150,000,000.00 (one hundred and fifty million reais), with the Company holding 29.91% of Panatlântica's capital. Prior to such acquisition, the Company valued the investment at fair value through the Result.

(3) On February 21, 2024, the Company became the holder of 100% of the shares of the subsidiary CEEE-g (as of December 31, 2023, 99%), and for this reason, there was a small percentage increase in the indirect participation of the companies Companhia Energética Rio das Antas – CERAN, Ventos do Sul Energia S.A., Chapecoense Geração S.A. and Foz Chapecó Energia S.A.

| 9.a) | Changes in investments in subsidiaries, joint ventures, joint operations, associates and other investments

The positions presented as of March 31, 2024 and the changes refer to the interest held by CSN in these companies:

|  | Consolidated
Companies |  | Final balance on 12/31/2023 |  | Capital increase |  | Write-off |  | Dividends |  | Equity Income |  | Comprehensive income |  | Others |  | Amortization | Final balance on 03/31/2024
Investments under the equity method |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Joint-venture, Joint-operation and Affiliate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
MRS Logistica |  | 2,381,607 |  |  |  |  |  | (120) |  | 116,530 |  | 14,608 |  |  |  |  | 2,512,625
Fair Value MRS |  | 480,622 |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 480,622
Fair Value MRS amortization |  | (93,971) |  |  |  |  |  |  |  |  |  |  |  |  |  | (2,937) | (96,908)
Transnordestina Logística S.A. |  | 1,160,946 |  |  |  |  |  |  |  | (6,645) |  |  |  |  |  |  | 1,154,301
Fair Value -Transnordestina |  | 659,106 |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 659,106
Arvedi Metalfer do Brasil |  | 35,487 |  |  |  |  |  |  |  | 1 |  |  |  |  |  |  | 35,488
Panatântica S.A. (1) |  |  |  | 150,000 |  |  |  |  |  | 1,368 |  | 24,503 |  | 78,737 |  |  | 254,608
Equimac S.A |  | 23,793 |  |  |  |  |  |  |  | 457 |  |  |  |  |  |  | 24,250
Indirect interest in affiliates - CEEE-G (²) |  | 165,891 |  |  |  |  |  |  |  | 11,313 |  |  |  | 10,432 |  |  | 187,636
Fair Value indirect participation CEEE-G |  | 319,709 |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 319,709
Fair Value amortization indirect participation CEEE-G |  | (23,896) |  |  |  |  |  |  |  |  |  |  |  |  |  | (4,655) | (28,551)
|  | 5,109,294 |  | 150,000 |  |  |  | (120) |  | 123,024 |  | 39,111 |  | 89,169 |  | (7,592) | 5,502,886
Other participations |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity interests evaluated by the cost method (3) |  | 50,093 |  |  |  | (2,168) |  |  |  |  |  |  |  |  |  |  | 47,925
Investments at fair value through profit or loss (1) (note 13) |  | 78,737 |  |  |  |  |  |  |  |  |  |  |  | (78,737) |  |  |
Other |  | (947) |  |  |  |  |  |  |  |  |  |  |  | 2,006 |  |  | 1,059
|  | 127,883 |  |  |  | (2,168) |  |  |  |  |  |  |  | (76,731) |  |  | 48,984
Total shareholdings |  | 5,237,177 |  | 150,000 |  | (2,168) |  | (120) |  | 123,024 |  | 39,111 |  | 12,438 |  | (7,592) | 5,551,870
Classification of investments in the balance sheet |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity interests |  | 5,237,177 |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 5,551,870
Investment Property |  | 205,954 |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 205,693
Total investments in the asset |  | 5,443,131 |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 5,757,563

(1) The balance movement refers to the change in the valuation method of the Panatlântica investee due to the acquisitions of the aforementioned shares. As mentioned, the company, which was valued at fair value through results, started to be valued through the equity method.

(2) The balance in others refers mostly to canceled dividends.

(3) These are strategic investments in startups made by the subsidiary CSN Inova Ventures, which are valued using the cost method, in the following companies: Alinea Health Holdings Ltda. I.Systems Aut. Ind., 2D Materials, H2Pro Ltda, 1S1 Energy, Traive INC., OICO Holdingsand Global Dot, the latter acquired on June 5, 2023;

The reconciliation of equity in earnings of companies with shared control classified as joint ventures and associates and the amount presented in the income statement is presented below and results from the elimination of the results of CSN's transactions with these companies:

Quarterly Financial Information – March 31, 2024 – Companhia Siderúrgica Nacional (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) |

|  |  | Consolidated
| 03/31/2024 |  | 03/31/2023
Result equivalence of affiliate, joint-venture and joint-operation |  |
MRS Logística S.A. | 116,530 |  | 54,374
Transnordestina | (6,645) |  | (3,677)
Arvedi Metalfer do Brasil | 1 |  | 246
Equimac S.A | 457 |  | 480
Indirect interest in affiliates - CEEE-G | 11,313 |  | 12,530
Panatlantica | 1,368 |  | (26,291)
Fair Value Amortization | (7,592) |  |
| 115,432 |  | 37,662
Reclassification IAS 28 (1) | (22,120) |  | (14,018)
Others | 8 |  | (2,135)
Equity in results | 93,320 |  | 21,509

(1) The operating margin of intercompany transactions with group companies classified as joint ventures, which are not consolidated, are reclassified in the Statement of Income from the Investment group to the costs and income tax and social contribution groups.

The changes in the Parent Company's investment are presented below:

Quarterly Financial Information – March 31, 2024 – Companhia Siderúrgica Nacional (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) |

|  | Parent Company
Companies |  | Final balance on 12/31/2023 |  | Capital increase/acquisition of shares |  | Dividends |  | Equity Income |  | Comprehensive income |  | Others |  | Final balance on 03/31/2024
Investments under the equity method |  |  |  |  |  |  |  |  |  |  |  |  |  |
Subsidiaries |  |  |  |  |  |  |  |  |  |  |  |  |  |
CSN Steel S.L.U. |  | 4,688,943 |  |  |  |  |  | 60,856 |  | 29,145 |  |  |  | 4,778,944
Sepetiba Tecon S.A. |  | 372,251 |  |  |  |  |  | 2,581 |  |  |  |  |  | 374,832
Minérios Nacional S.A. |  | 143,737 |  |  |  |  |  | (77) |  |  |  |  |  | 143,660
Fair Value - Minérios Nacional |  | 2,122,071 |  |  |  |  |  |  |  |  |  |  |  | 2,122,071
Companhia Metalúrgica Prada |  | 321,641 |  |  |  |  |  | (67,572) |  |  |  |  |  | 254,069
Goodwill - Companhia Metalúrgica Prada |  | 63,509 |  |  |  |  |  |  |  |  |  |  |  | 63,509
CSN Mineração S.A. |  | 8,532,643 |  |  |  |  |  | 444,978 |  | 660,181 |  |  |  | 9,637,802
CSN Energia S.A. |  | 24,445 |  |  |  |  |  | (1,525) |  |  |  |  |  | 22,920
FTL - Ferrovia Transnordestina Logística S.A. |  | 131,031 |  |  |  |  |  | (13,933) |  |  |  |  |  | 117,098
Companhia Florestal do Brasil |  | 1,331,941 |  |  |  |  |  | (26,122) |  | (11,982) |  |  |  | 1,293,837
CBSI - Companhia Brasileira de Serviços de Infraestrutura |  | 37,951 |  |  |  |  |  | 17,087 |  |  |  |  |  | 55,038
Goodwill - CBSI - Companhia Brasileira de Serviços de Infraestrutura |  | 15,225 |  |  |  |  |  |  |  |  |  |  |  | 15,225
CSN Cimentos Brasil S.A. |  | 6,555,144 |  |  |  |  |  | (39,622) |  |  |  |  |  | 6,515,522
Others |  | 370 |  |  |  |  |  | (446) |  |  |  |  |  | (76)
|  | 24,340,902 |  |  |  |  |  | 376,205 |  | 677,344 |  |  |  | 25,394,451
Joint-venture, Joint-operation and Affiliate |  |  |  |  |  |  |  |  |  |  |  |  |  |
Itá Energética S.A. |  | 193,122 |  |  |  | (16,326) |  | (1,684) |  |  |  |  |  | 175,112
MRS Logística S.A. |  | 1,191,104 |  |  |  | (63) |  | 58,284 |  | 7,367 |  |  |  | 1,256,692
Transnordestina Logística S.A. |  | 1,160,944 |  |  |  |  |  | (6,645) |  |  |  |  |  | 1,154,299
Fair Value -Transnordestina |  | 659,106 |  |  |  |  |  |  |  |  |  |  |  | 659,106
Equimac S.A |  | 23,793 |  |  |  |  |  | 457 |  |  |  |  |  | 24,250
Panatântica S.A. |  |  |  | 150,000 |  |  |  | 1,368 |  | 24,503 |  | 78,737 |  | 254,608
Arvedi Metalfer do Brasil |  | 35,488 |  |  |  |  |  | 1 |  |  |  |  |  | 35,489
|  | 3,263,557 |  | 150,000 |  | (16,389) |  | 51,781 |  | 31,870 |  | 78,737 |  | 3,559,556
Other participations |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investments at fair value through profit or loss (note 13) |  | 78,737 |  |  |  |  |  |  |  |  |  | (78,737) |  |
Profits on subsidiaries' inventories |  | (20,109) |  |  |  |  |  | (23,163) |  |  |  |  |  | (43,272)
Other investments |  | 29 |  |  |  |  |  |  |  |  |  | 1 |  | 30
|  | 58,657 |  |  |  |  |  | (23,163) |  |  |  | (78,736) |  | (43,242)
Total shareholdings |  | 27,663,116 |  | 150,000 |  | (16,389) |  | 404,823 |  | 709,214 |  | 1 |  | 28,910,765
Subsidiaries with unsecured liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |
CSN Islands VII Corp. |  | (2,516,395) |  |  |  |  |  | (106,059) |  |  |  |  |  | (2,622,454)
CSN Inova Ventures |  | (2,107,852) |  |  |  |  |  | (180,099) |  |  |  |  |  | (2,287,951)
CSN Islands XII Corp. |  | (3,286,160) |  |  |  |  |  | (209,185) |  |  |  |  |  | (3,495,345)
Estanho de Rondônia S.A. |  | (114,779) |  | 32,000 |  |  |  | (19,375) |  |  |  | 1 |  | (102,153)
Total subsidiaries with unsecured liabilities |  | (8,025,186) |  | 32,000 |  |  |  | (514,718) |  |  |  | 1 |  | (8,507,903)
Equity Income |  |  |  |  |  |  |  | (109,895) |  |  |  |  |  |
Classification of investments in the balance sheet |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity interests |  | 27,663,116 |  |  |  |  |  |  |  |  |  |  |  | 28,910,765
Investment Property |  | 137,761 |  |  |  |  |  |  |  |  |  |  |  | 137,209
Total active investments |  | 27,800,877 |  |  |  |  |  |  |  |  |  |  |  | 29,047,974
Provision for Investments with Unsecured Liabilities (liabilities) |  | (8,025,186) |  |  |  |  |  |  |  |  |  |  |  | (8,507,903)
Total active and passive investments |  | 19,775,691 |  |  |  |  |  |  |  |  |  |  |  | 20,540,071

| 9.b) | Joint ventures and joint operations financial information

The balance sheet and income statement balances of the companies with shared control are shown below and refer to 100% of the companies’ results:

Quarterly Financial Information – March 31, 2024 – Companhia Siderúrgica Nacional (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) |

|  |  |  |  |  |  |  | 03/31/2024 |  |  |  |  |  |  |  | 12/31/2023
|  | 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
| 37.49% |  | 48.03% |  | 50.00% |  | 48.75% |  | 37.27% |  | 48.03% |  | 50.00% |  | 48.75%
Balance sheet |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | 3,054,347 |  | 695,067 |  | 14,991 |  | 99,098 |  | 3,388,052 |  | 786,007 |  | 13,953 |  | 93,712
Advances to suppliers |  | 130,476 |  | 36,319 |  | 37 |  | 182 |  | 101,318 |  | 6,161 |  | 77 |  | 409
Other current assets |  | 1,011,756 |  | 71,592 |  | 13,846 |  | 29,327 |  | 1,390,540 |  | 67,758 |  | 16,747 |  | 30,517
Total current assets |  | 4,196,579 |  | 802,978 |  | 28,874 |  | 128,607 |  | 4,879,910 |  | 859,926 |  | 30,777 |  | 124,638
Non-current Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other non-current assets |  | 554,401 |  | 95,076 |  | 143 |  | 18,072 |  | 679,749 |  | 97,560 |  | 599 |  | 18,054
Investments, PP&E and intangible assets |  | 12,937,443 |  | 12,268,659 |  | 55,687 |  | 288,812 |  | 12,774,225 |  | 12,062,189 |  | 48,570 |  | 296,818
Total non-current assets |  | 13,491,844 |  | 12,363,735 |  | 55,830 |  | 306,884 |  | 13,453,974 |  | 12,159,749 |  | 49,169 |  | 314,872
Total Assets |  | 17,688,423 |  | 13,166,713 |  | 84,704 |  | 435,491 |  | 18,333,884 |  | 13,019,675 |  | 79,946 |  | 439,510
Current Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Borrowings and financing |  | 993,674 |  | 186,421 |  | 19,099 |  |  |  | 993,367 |  | 167,201 |  | 8,552 |  |
Lease liabilities |  | 585,520 |  |  |  | 716 |  |  |  | 565,002 |  |  |  | 684 |  |
Other current liabilities |  | 1,334,116 |  | 68,144 |  | 9,313 |  | 52,660 |  | 2,111,251 |  | 80,851 |  | 8,310 |  | 21,222
Total current liabilities |  | 2,913,310 |  | 254,565 |  | 29,128 |  | 52,660 |  | 3,669,620 |  | 248,052 |  | 17,546 |  | 21,222
Non-current Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Borrowings and financing |  | 5,669,165 |  | 8,634,072 |  | 4,698 |  |  |  | 5,879,207 |  | 8,481,707 |  | 12,734 |  |
Lease liabilities |  | 1,516,836 |  |  |  |  |  |  |  | 1,665,072 |  |  |  | 253 |  |
Other non-current liabilities |  | 887,440 |  | 1,875,224 |  | 2,380 |  | 23,626 |  | 729,736 |  | 1,873,232 |  | 1,827 |  | 22,140
Total non-current liabilities |  | 8,073,441 |  | 10,509,296 |  | 7,078 |  | 23,626 |  | 8,274,015 |  | 10,354,939 |  | 14,814 |  | 22,140
Shareholders’ equity |  | 6,701,672 |  | 2,402,852 |  | 48,498 |  | 359,205 |  | 6,390,249 |  | 2,416,684 |  | 47,586 |  | 396,148
Total liabilities and shareholders’ equity |  | 17,688,423 |  | 13,166,713 |  | 84,704 |  | 435,491 |  | 18,333,884 |  | 13,019,675 |  | 79,946 |  | 439,510

|  | 03/01/2024 to 03/31/2024 |  | 01/01/2023 a 03/31/2023
|  | 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
| 37.49% |  | 48.03% |  | 50.00% |  | 48.75% |  | 37.27% |  | 48.03% |  | 50.00% |  | 48.75%
Statements of Income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net revenue |  | 1,643,868 |  | 557 |  | 10,992 |  | 45,616 |  | 1,245,406 |  | 458 |  | 8,457 |  | 47,816
Cost of sales and services |  | (837,184) |  |  |  | (6,135) |  | (29,543) |  | (777,643) |  |  |  | (4,765) |  | (20,720)
Gross profit |  | 806,684 |  | 557 |  | 4,857 |  | 16,073 |  | 467,763 |  | 458 |  | 3,692 |  | 27,096
Operating (expenses) income |  | (42,759) |  | (10,749) |  | (1,242) |  | (20,809) |  | (78,218) |  | (8,822) |  | (846) |  | (20,074)
Financial income (expenses), net |  | (280,768) |  | (3,642) |  | (378) |  | 1,300 |  | (162,344) |  | 710 |  | (594) |  | 1,025
Profit / (loss) for the year |  | 483,157 |  | (13,834) |  | 3,237 |  | (3,436) |  | 227,201 |  | (7,654) |  | 2,252 |  | 8,047
Current and deferred income tax and social contribution |  | (167,297) |  |  |  | (1,299) |  | 17 |  | (81,308) |  |  |  | (317) |  | (2,851)
Profit / (loss) for the year |  | 315,860 |  | (13,834) |  | 1,938 |  | (3,419) |  | 145,893 |  | (7,654) |  | 1,935 |  | 5,196

| 9.c) | TRANSNORDESTINA LOGÍSTICA S.A. (“TLSA”)

TSA is primarily engaged in the public service operation and development of a railroad network in the Northeast of Brazil, comprising the rail links Velha-Salgueiro, Salgueiro-Trindade, Trindade-Eliseu Martins, Salgueiro- Porto de Suape, and Missão Velha-Porto de Pecém (“Malha II”). On December 23, 2022, after extensive negotiations involving ANTT, TCU and the then Ministry of Infrastructure, signed first amendment to the Concession Agreement , which redefined the scope and deadlines for completion of the TLSA sections, notably to provide for the return of the section Salgueiro-Porto de Suape, which results in a project with the current 1,206 km of rail network and completion deadline up to December 2029.

Management relies on resources from its shareholders and third parties to complete the work, which is expected to be available, based on previously conducted agreements and recent discussions between the parties involved. After evaluating this matter, Management concluded that the use of the project’s business continuity accounting basis in the preparation of the interim financial information was considered appropriate.

| 9.d) | Investment Properties:

The balance of investment properties is shown below:

|  | Consolidated |  | Parent Company
|  | Land |  | Buildings |  | Total |  | Land |  | Buildings |  | Total
Balance at December 31, 2023 |  | 156,811 |  | 49,143 |  | 205,954 |  | 94,257 |  | 43,504 |  | 137,761
Cost |  | 156,811 |  | 82,737 |  | 239,548 |  | 94,257 |  | 74,392 |  | 168,649
Accumulated depreciation |  |  |  | (33,594) |  | (33,594) |  |  |  | (30,888) |  | (30,888)
Balance at December 31, 2023 |  | 156,811 |  | 49,143 |  | 205,954 |  | 94,257 |  | 43,504 |  | 137,761
Depreciation (note 24) |  |  |  | (987) |  | (987) |  |  |  | (552) |  | (552)
Transfer Between Groups - Fixed Assets and Intangibles |  | 726 |  |  |  | 726 |  |  |  |  |  |
Balance at March 31, 2024 |  | 157,537 |  | 48,156 |  | 205,693 |  | 94,257 |  | 42,952 |  | 137,209
Cost |  | 157,537 |  | 83,285 |  | 240,822 |  | 94,257 |  | 74,392 |  | 168,649
Accumulated depreciation |  |  |  | (35,129) |  | (35,129) |  |  |  | (31,440) |  | (31,440)
Balance at March 31, 2024 |  | 157,537 |  | 48,156 |  | 205,693 |  | 94,257 |  | 42,952 |  | 137,209

Management's estimate of the fair value of investment properties was made for December 31, 2023.

Quarterly Financial Information – March 31, 2024 – Companhia Siderúrgica Nacional (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) |

December 31, 2023. The fair value of investment property in the consolidated financial statements on December 31, 2023 is R$2,235,614 (R$2,163,610 on December 31, 2022) and in the parent company R$2,117,924 (R$2,117,924 on December 31, 2022)

The average estimated useful lives for the periods are as follows (in years):

|  |  | Consolidated |  |  |  | Parent Company
| 03/31/2024 |  | 12/31/2023 |  | 03/31/2024 |  | 12/31/2023
Buildings | 28 |  | 28 |  | 29 |  | 29

| 10. | PROPERTY, PLANT AND EQUIPMENT

| 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, 2023 | 525,307 |  | 4,532,319 |  | 17,419,522 |  | 45,917 |  | 4,425,130 |  | 674,786 |  | 304,477 |  | 27,927,458
Cost | 525,307 |  | 9,110,694 |  | 39,597,174 |  | 297,916 |  | 4,425,130 |  | 1,126,977 |  | 860,818 |  | 55,944,016
Accumulated depreciation |  |  | (4,578,375) |  | (22,177,652) |  | (251,999) |  |  |  | (452,191) |  | (556,341) |  | (28,016,558)
Balance at December 31, 2023 | 525,307 |  | 4,532,319 |  | 17,419,522 |  | 45,917 |  | 4,425,130 |  | 674,786 |  | 304,477 |  | 27,927,458
Effect of foreign exchange differences | 763 |  | 1,180 |  | 2,482 |  | 23 |  | 1,162 |  | 1,282 |  | 176 |  | 7,068
Acquisitions | 1,105 |  |  |  | 19,373 |  | 944 |  | 771,316 |  | 202 |  | 7,609 |  | 800,549
Capitalized interest (note 26) (1) |  |  |  |  |  |  |  |  | 37,680 |  |  |  |  |  | 37,680
Write-offs (note 25) (2) |  |  |  |  | (10,016) |  |  |  | (1,123) |  | (855) |  | (10) |  | (12,004)
Depreciation (note 24) |  |  | (71,675) |  | (692,141) |  | (2,752) |  |  |  | (49,096) |  | (21,202) |  | (836,866)
Transfers to other asset categories |  |  | 171,757 |  | 840,319 |  | 6,245 |  | (1,046,946) |  |  |  | 28,625 |  |
Transfer between groups - intangible assets and investment property | (726) |  |  |  |  |  |  |  | (12,834) |  |  |  | (48) |  | (13,608)
Right of use - Remesurement |  |  |  |  |  |  |  |  |  |  | 100,698 |  |  |  | 100,698
Others |  |  |  |  | (1,140) |  |  |  | (12,618) |  |  |  | 3 |  | (13,755)
Balance at March 31, 2024 | 526,449 |  | 4,633,581 |  | 17,578,399 |  | 50,377 |  | 4,161,767 |  | 727,017 |  | 319,630 |  | 27,997,220
Cost | 526,449 |  | 9,291,913 |  | 40,467,235 |  | 305,226 |  | 4,161,767 |  | 1,202,646 |  | 881,142 |  | 56,836,378
Accumulated depreciation |  |  | (4,658,332) |  | (22,888,836) |  | (254,849) |  |  |  | (475,629) |  | (561,512) |  | (28,839,158)
Balance at March 31, 2024 | 526,449 |  | 4,633,581 |  | 17,578,399 |  | 50,377 |  | 4,161,767 |  | 727,017 |  | 319,630 |  | 27,997,220

|  | 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, 2023 |  | 25,618 |  | 284,330 |  | 7,097,152 |  | 9,508 |  | 814,174 |  | 6,067 |  | 51,966 |  | 8,288,815
Cost |  | 25,618 |  | 534,794 |  | 16,938,652 |  | 101,426 |  | 814,174 |  | 41,584 |  | 171,615 |  | 18,627,863
Accumulated depreciation |  |  |  | (250,464) |  | (9,841,500) |  | (91,918) |  |  |  | (35,517) |  | (119,649) |  | (10,339,048)
Balance at December 31, 2023 |  | 25,618 |  | 284,330 |  | 7,097,152 |  | 9,508 |  | 814,174 |  | 6,067 |  | 51,966 |  | 8,288,815
Acquisitions |  |  |  |  |  | 14,003 |  | 357 |  | 371,235 |  |  |  |  |  | 385,595
Capitalized interest (note 26) |  |  |  |  |  |  |  |  |  | 15,104 |  |  |  |  |  | 15,104
Write-offs (note 25) |  |  |  |  |  | (2,216) |  |  |  |  |  |  |  |  |  | (2,216)
Depreciation (note 24) |  |  |  | (4,766) |  | (304,506) |  | (439) |  |  |  | (2,495) |  | (2,735) |  | (314,941)
Transfers to other asset categories |  |  |  | 19,106 |  | 245,635 |  | 455 |  | (266,607) |  |  |  | 1,411 |  |
Transfer between groups - intangible assets and investment property |  |  |  |  |  |  |  |  |  | (551) |  |  |  |  |  | (551)
Right of use - Remesurement |  |  |  |  |  |  |  |  |  |  |  | 82 |  |  |  | 82
Others |  |  |  |  |  |  |  |  |  |  |  |  |  | 3 |  | 3
Balance at March 31, 2024 |  | 25,618 |  | 298,670 |  | 7,050,068 |  | 9,881 |  | 933,355 |  | 3,654 |  | 50,645 |  | 8,371,891
Cost |  | 25,618 |  | 553,899 |  | 17,196,074 |  | 102,239 |  | 933,355 |  | 41,665 |  | 173,027 |  | 19,025,877
Accumulated depreciation |  |  |  | (255,229) |  | (10,146,006) |  | (92,358) |  |  |  | (38,011) |  | (122,382) |  | (10,653,986)
Balance at March 31, 2024 |  | 25,618 |  | 298,670 |  | 7,050,068 |  | 9,881 |  | 933,355 |  | 3,654 |  | 50,645 |  | 8,371,891

(*) Progress in business expansion projects stands out, mainly Expansion of the port in Itaguaí and Casa de Pedra, Itabirito, Tailings recovery from dams, Projects of new integrated cement plants and repair of coke batteries at the Plant President Vargas added capitalized interest in the period.

(**) Refer substantially to: i) in the consolidated table: assets for railway use, such as yards, rails, mines, and sleepers; and ii) in the parent company's table: improvements to third-party assets, vehicles and hardware.

| (i) | Right of use

Below are the movements of the right of use:

Quarterly Financial Information – March 31, 2024 – Companhia Siderúrgica Nacional (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) |

|  |  |  |  |  |  |  |  | Consolidated
| Land |  | Buildings and Infrastructure |  | Machinery, equipment and facilities |  | Others |  | Total
Balance at December 31, 2023 | 512,923 |  | 86,057 |  | 54,149 |  | 21,657 |  | 674,786
Cost | 629,004 |  | 143,926 |  | 254,640 |  | 99,407 |  | 1,126,977
Accumulated depreciation | (116,081) |  | (57,869) |  | (200,491) |  | (77,750) |  | (452,191)
Balance at December 31, 2023 | 512,923 |  | 86,057 |  | 54,149 |  | 21,657 |  | 674,786
Effect of foreign exchange differences |  |  | 1,111 |  | 59 |  | 112 |  | 1,282
Addition | 202 |  |  |  |  |  |  |  | 202
Remesurement | 1,611 |  | 473 |  | 96,432 |  | 2,182 |  | 100,698
Depreciation | (9,481) |  | (3,486) |  | (34,120) |  | (2,009) |  | (49,096)
Write-offs |  |  |  |  | (855) |  |  |  | (855)
Balance at March 31, 2024 | 505,255 |  | 84,155 |  | 115,665 |  | 21,942 |  | 727,017
Cost | 630,729 |  | 143,430 |  | 333,297 |  | 99,083 |  | 1,206,539
Accumulated depreciation | (125,474) |  | (59,275) |  | (217,632) |  | (77,141) |  | (479,522)
Balance at March 31, 2024 | 505,255 |  | 84,155 |  | 115,665 |  | 21,942 |  | 727,017

|  |  |  |  |  |  |  | Parent Company
|  | Land |  | Machinery, equipment and facilities |  | Others |  | Total
Balance at December 31, 2023 |  | 5,110 |  | 957 |  |  |  | 6,067
Cost |  | 37,416 |  | 2,477 |  | 1,691 |  | 41,584
Accumulated depreciation |  | (32,306) |  | (1,520) |  | (1,691) |  | (35,517)
Balance at December 31, 2023 |  | 5,110 |  | 957 |  |  |  | 6,067
Remesurement |  | 82 |  |  |  |  |  | 82
Depreciation |  | (2,290) |  | (205) |  |  |  | (2,495)
Balance at March 31, 2024 |  | 2,902 |  | 752 |  |  |  | 3,654
Cost |  | 37,497 |  | 2,477 |  | 1,691 |  | 41,665
Accumulated depreciation |  | (34,595) |  | (1,725) |  | (1,691) |  | (38,011)
Balance at March 31, 2024 |  | 2,902 |  | 752 |  |  |  | 3,654

The average estimated useful lives are as follows (in years):

|  |  | Consolidated |  |  |  | Parent Company
| 03/31/2024 |  | 12/31/2023 |  | 03/31/2024 |  | 12/31/2023
Buildings and Infrastructure | 34 |  | 33 |  | 30 |  | 30
Machinery, equipment and facilities | 18 |  | 20 |  | 19 |  | 23
Furniture and fixtures | 11 |  | 11 |  | 13 |  | 13
Others | 11 |  | 10 |  | 10 |  | 10

11. INTANGIBLE ASSETS

| Consolidated |  | Parent Company
| Goodwill |  | Customer relationships |  | Software |  | Trademarks and patents |  | Rights and licenses (*) |  | Others |  | Total |  | Goodwill |  | Software |  | Total
Balance at December 31, 2023 | 4,126,255 |  | 85,276 |  | 17,708 |  | 213,997 |  | 6,090,962 |  | 2,283 |  | 10,536,481 |  |  |  | 57,882 |  | 57,882
Cost | 4,675,302 |  | 718,929 |  | 276,617 |  | 217,560 |  | 6,431,706 |  | 2,283 |  | 12,322,397 |  |  |  | 190,240 |  | 190,240
Accumulated amortization | (549,047) |  | (633,653) |  | (258,909) |  | (3,563) |  | (340,744) |  |  |  | (1,785,916) |  |  |  | (132,358) |  | (132,358)
Balance at December 31, 2023 | 4,126,255 |  | 85,276 |  | 17,708 |  | 213,997 |  | 6,090,962 |  | 2,283 |  | 10,536,481 |  |  |  | 57,882 |  | 57,882
Effect of foreign exchange differences |  |  | 480 |  | 21 |  | 1,935 |  |  |  |  |  | 2,436 |  |  |  |  |  |
Acquisitions |  |  |  |  | 116 |  |  |  |  |  |  |  | 116 |  |  |  |  |  |
Transfer between groups - fixed assets and investment property |  |  |  |  | 44,483 |  |  |  | (31,601) |  |  |  | 12,882 |  |  |  | 551 |  | 551
Amortization (note 24) |  |  | (18,412) |  | (5,096) |  | (4) |  | (35,395) |  |  |  | (58,907) |  |  |  | (3,218) |  | (3,218)
Balance at March 31, 2024 | 4,126,255 |  | 67,344 |  | 57,232 |  | 215,928 |  | 6,023,966 |  | 2,283 |  | 10,493,008 |  |  |  | 55,215 |  | 55,215
Cost | 4,675,302 |  | 724,898 |  | 321,244 |  | 219,495 |  | 6,400,105 |  | 2,283 |  | 12,343,327 |  | 81,169 |  | 190,791 |  | 271,960
Accumulated amortization | (549,047) |  | (657,554) |  | (264,012) |  | (3,567) |  | (376,139) |  |  |  | (1,850,319) |  | (81,169) |  | (135,576) |  | (216,745)
Balance at March 31, 2024 | 4,126,255 |  | 67,344 |  | 57,232 |  | 215,928 |  | 6,023,966 |  | 2,283 |  | 10,493,008 |  |  |  | 55,215 |  | 55,215

(*) Composed mainly of: (i) mining rights whose amortization is based on the volume of production and (ii) Concession agreement for use of water resources in the acquisition of control of the State Electric Power Generation Company, the amortization is carried out for the term of the contract.

The average estimated useful lives are as follows (in years):

Quarterly Financial Information – March 31, 2024 – Companhia Siderúrgica Nacional (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) |

|  |  | Consolidated |  |  |  | Parent Company
| 03/31/2024 |  | 12/31/2023 |  | 03/31/2024 |  | 12/31/2023
Software | 10 |  | 10 |  | 9 |  | 9
Customer relationships | 13 |  | 13 |  |  |  |

| 11.a) | Goodwill impairment test

Goodwill arising from expected future profitability of acquired companies and intangible assets with indefinite useful lives (brands) were allocated to CSN’s cash generating units (CGUs) which represent the lowest level of assets or group of assets of the Company. According to CPC 01(R1)/IAS36, when a CGU has an intangible asset with no defined useful life allocated, the Company must perform an impairment test.

| 12. | BORROWINGS, FINANCING AND DEBENTURES

The balances of borrowings, financing and debentures that are recorded at amortized cost are as follows:

|  |  |  |  |  |  |  |  | Consolidated |  | Parent Company
|  |  | Current Liabilities |  | Non-current Liabilities |  | Current Liabilities | Non-current Liabilities
|  |  | 03/31/2024 |  | 12/31/2023 |  | 03/31/2024 |  | 12/31/2023 |  | 03/31/2024 |  | 12/31/2023 | 03/31/2024 |  | 12/31/2023
Foreign Debt |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Floating Rates: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Prepayment |  |  | 1,698,042 |  | 548,230 |  | 5,563,102 |  | 6,576,696 |  | 1,301,275 |  | 224,292 | 673,488 |  | 1,805,805
Fixed Rates: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Bonds, Facility, CCE and ACC |  |  | 2,719,599 |  | 2,079,972 |  | 18,975,508 |  | 17,815,926 |  | 1,958,382 |  | 1,471,915 | 749,430 |  | 1,123,182
Intercompany |  |  |  |  |  |  |  |  |  |  | 323,490 |  | 490,966 | 9,937,658 |  | 7,197,800
Fixed interest in EUR |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Intercompany |  |  |  |  |  |  |  |  |  |  | 1,051,418 |  | 1,030,571 | 305,969 |  | 303,345
Facility |  |  | 456,128 |  | 327,873 |  | 119,448 |  | 114,227 |  |  |  |  |  |  |
|  |  | 4,873,769 |  | 2,956,075 |  | 24,658,058 |  | 24,506,849 |  | 4,634,565 |  | 3,217,744 | 11,666,545 |  | 10,430,132
Debt agreements in Brazil |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Floating Rate Securities in R$: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
BNDES/FINAME/FINEP, Debentures, NCE and CCB |  |  | 4,218,886 |  | 4,745,721 |  | 13,226,955 |  | 13,265,267 |  | 1,833,854 |  | 2,395,570 | 7,735,065 |  | 7,738,683
|  |  | 4,218,886 |  | 4,745,721 |  | 13,226,955 |  | 13,265,267 |  | 1,833,854 |  | 2,395,570 | 7,735,065 |  | 7,738,683
Total Borrowings and Financing |  |  | 9,092,655 |  | 7,701,796 |  | 37,885,013 |  | 37,772,116 |  | 6,468,419 |  | 5,613,314 | 19,401,610 |  | 18,168,815
Transaction Costs and Issue Premiums |  |  | (80,732) |  | (88,429) |  | (508,629) |  | (526,408) |  | (21,561) |  | (24,850) | (62,393) |  | (65,974)
Total Borrowings and Financing + Transaction cost |  |  | 9,011,923 |  | 7,613,367 |  | 37,376,384 |  | 37,245,708 |  | 6,446,858 |  | 5,588,464 | 19,339,218 |  | 18,102,841

| 12.a) | Borrowing and amortization, financing, and debentures

The following table shows amortization and funding during the period:

|  |  |  | Consolidated |  |  |  | Parent Company
|  | 03/31/2024 |  | 12/31/2023 |  | 03/31/2024 |  | 12/31/2023
Opening balance |  | 44,859,075 |  | 40,918,742 |  | 23,691,305 |  | 21,413,268
New debts |  | 2,175,868 |  | 15,753,501 |  | 2,537,558 |  | 10,018,056
Repayment |  | (1,803,177) |  | (9,892,344) |  | (1,024,549) |  | (6,985,915)
Payments of charges |  | (767,807) |  | (3,428,721) |  | (283,024) |  | (1,647,267)
Accrued charges (note 26) |  | 962,176 |  | 3,664,313 |  | 423,245 |  | 1,797,838
Others (1) |  | 962,174 |  | (2,156,416) |  | 441,541 |  | (904,675)
Closing balance |  | 46,388,309 |  | 44,859,075 |  | 25,786,076 |  | 23,691,305

| (1) | Including unrealized exchange and monetary variations and funding cost.

The Company raised and amortized borrowings, financing and debentures during 2023, as shown below:

Quarterly Financial Information – March 31, 2024 – Companhia Siderúrgica Nacional (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) |

|  |  |  |  |  |  |  | Consolidated
|  |  |  |  |  |  |  | 03/31/2024
Nature |  | New debts |  | Maturities |  | Repayment |  | Interest payment
Pre-Payment |  |  |  |  |  | (91,510) |  | (119,226)
Bonds, ACC, CCE and Facility |  | 2,125,868 |  | 2024 to 2025 |  | (953,916) |  | (227,998)
BNDES/FINAME/FINEP, Debentures, NCE, Facility and CCB |  | 50,000 |  | 2024 |  | (757,751) |  | (420,583)
|  | 2,175,868 |  |  |  | (1,803,177) |  | (767,807)

| 12.b) | Maturities of borrowings, financing and debentures presented in current and non-current liabilities

|  |  |  |  |  | Consolidated |  |  |  |  |  | Parent Company
|  |  |  |  |  | 03/31/2024 |  |  |  |  |  | 03/31/2024
|  | Borrowings and financing in foreign currency |  | Borrowings and financing in national currency |  | Total |  | Borrowings and financing in foreign currency |  | Borrowings and financing in national currency |  | Total
Average rate |  | in Dollar 6.88%in Euro 5.34% |  | in Real 12.64% |  |  | in Dollar 3.42%in Euro 3.41% |  | in Real 12.99% |
2024 |  | 2,890,328 |  | 3,990,247 |  | 6,880,575 |  | 2,685,048 |  | 1,733,194 |  | 4,418,242
2025 |  | 3,999,053 |  | 1,823,440 |  | 5,822,493 |  | 3,906,318 |  | 1,331,091 |  | 5,237,409
2026 |  | 2,283,993 |  | 2,600,708 |  | 4,884,701 |  | 557,117 |  | 2,049,193 |  | 2,606,310
2027 |  | 940,285 |  | 2,593,699 |  | 3,533,984 |  | 90,931 |  | 2,068,693 |  | 2,159,624
2028 |  | 7,080,473 |  | 1,392,436 |  | 8,472,909 |  | 2,874,439 |  | 1,351,693 |  | 4,226,132
2029 to 2031 |  | 9,218,563 |  | 2,199,652 |  | 11,418,215 |  | 3,356,944 |  | 611,574 |  | 3,968,518
After 2032 |  | 3,119,132 |  | 2,845,659 |  | 5,964,791 |  | 2,830,313 |  | 423,481 |  | 3,253,794
|  | 29,531,827 |  | 17,445,841 |  | 46,977,668 |  | 16,301,110 |  | 9,568,919 |  | 25,870,029

· Covenants

The Company maintains contracts that provide for the fulfillment of certain non-financial obligations, as well as the maintenance of certain parameters and performance indicators, such as the equity ratio disclosure of its audited interim financial information according to regulatory deadlines or payment of commission for risk assumption, if the indicator of net debt to EBITDA reaches the levels foreseen in those contracts.

To the moment, the Company is compliant with the financial and non-financial obligations (covenants) of its existing contracts.

13. FINANCIAL INSTRUMENTS

| 13.a) | Identification and valuation of financial instruments

The Company may operate with several financial instruments, with emphasis on cash and cash equivalents, including financial investments, marketable securities, accounts receivable from customers, accounts payable to suppliers and borrowings and financing. Additionally, we may also operate with derivative financial instruments, such as swap exchange rate swap, swap interest and derivatives with commodities.

Considering the nature of these instruments, their fair value is basically determined by the use of quotations in the capital markets in Brazil and the Mercantile and Futures Exchange. The amounts recorded in current assets and liabilities have immediate liquidity or maturity, mostly in the short term. Considering the terms and characteristics of these instruments, the carrying amounts approximate the fair values.

Quarterly Financial Information – March 31, 2024 – Companhia Siderúrgica Nacional (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) |

| · | Classification of financial instruments

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Consolidated
|  |  |  |  |  | 03/31/2024 |  |  |  | 12/31/2023
| Notes |  | Fair value through other comprehensive income |  | Fair value through profit or loss |  | Measured at amortized cost |  | Balances |  | Fair value through other comprehensive income |  | Fair value through profit or loss |  | Measured at amortized cost |  | Balances
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | 3 |  |  |  |  |  | 14,858,365 |  | 14,858,365 |  |  |  |  |  | 16,046,218 |  | 16,046,218
Short-term investments |  | 4 |  |  |  | 1,551,033 |  | 41,259 |  | 1,592,292 |  |  |  | 1,493,204 |  | 39,800 |  | 1,533,004
Trade receivables |  | 5 |  |  |  |  |  | 2,486,782 |  | 2,486,782 |  |  |  |  |  | 3,269,764 |  | 3,269,764
Dividends and interest on equity |  | 8 |  |  |  |  |  | 180,917 |  | 180,917 |  |  |  |  |  | 185,178 |  | 185,178
Derivative financial instruments |  | 8 |  | 699,592 |  | 286,406 |  |  |  | 985,998 |  |  |  | 32,211 |  |  |  | 32,211
Trading securities |  | 8 |  |  |  | 5,797 |  |  |  | 5,797 |  |  |  | 7,198 |  |  |  | 7,198
Loans - related parties |  | 8 |  |  |  |  |  | 5,287 |  | 5,287 |  |  |  |  |  | 5,316 |  | 5,316
Receivables by indemnity |  | 8 |  |  |  |  |  | 106,405 |  | 106,405 |  |  |  |  |  | 106,405 |  | 106,405
Total |  |  |  | 699,592 |  | 1,843,236 |  | 17,679,015 |  | 20,221,843 |  |  |  | 1,532,613 |  | 19,652,681 |  | 21,185,294
Non-current |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investments |  | 4 |  |  |  |  |  | 252,340 |  | 252,340 |  |  |  |  |  | 251,299 |  | 251,299
Other trade receivables |  | 8 |  |  |  |  |  | 7,522 |  | 7,522 |  |  |  |  |  | 10,406 |  | 10,406
Eletrobrás compulsory loan |  | 8 |  |  |  |  |  | 62,457 |  | 62,457 |  |  |  |  |  | 62,913 |  | 62,913
Receivables by indemnity |  | 8 |  |  |  |  |  | 1,167,671 |  | 1,167,671 |  |  |  |  |  | 992,577 |  | 992,577
Loans - related parties |  | 8 |  |  |  |  |  | 1,719,377 |  | 1,719,377 |  |  |  |  |  | 1,659,412 |  | 1,659,412
Investments |  | 9 |  |  |  | 1 |  |  |  | 1 |  |  |  | 78,737 |  |  |  | 78,737
Total |  |  |  |  |  | 1 |  | 3,209,367 |  | 3,209,368 |  |  |  | 78,737 |  | 2,976,607 |  | 3,055,344
Total Assets |  |  |  | 699,592 |  | 1,843,237 |  | 20,888,382 |  | 23,431,211 |  |  |  | 1,611,350 |  | 22,629,288 |  | 24,240,638
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Borrowings and financing |  | 12 |  |  |  |  |  | 9,092,655 |  | 9,092,655 |  |  |  |  |  | 7,701,796 |  | 7,701,796
Leases |  | 14 |  |  |  |  |  | 177,758 |  | 177,758 |  |  |  |  |  | 137,638 |  | 137,638
Trade payables |  | 15 |  |  |  |  |  | 6,956,503 |  | 6,956,503 |  |  |  |  |  | 7,739,520 |  | 7,739,520
Trade payables -drawee risk |  | 15.a |  |  |  |  |  | 4,548,516 |  | 4,548,516 |  |  |  |  |  | 4,209,434 |  | 4,209,434
Dividends and interest on capital |  | 16 |  |  |  |  |  | 80,553 |  | 80,553 |  |  |  |  |  | 80,624 |  | 80,624
Derivative financial instruments |  | 16 |  |  |  |  |  |  |  |  |  | 672,280 |  | 263,747 |  |  |  | 936,027
Total |  |  |  |  |  |  |  | 20,855,985 |  | 20,855,985 |  | 672,280 |  | 263,747 |  | 19,869,012 |  | 20,805,039
Non-current |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Borrowings and financing |  | 12 |  |  |  |  |  | 37,885,013 |  | 37,885,013 |  |  |  |  |  | 37,772,116 |  | 37,772,116
Leases |  | 14 |  |  |  |  |  | 616,014 |  | 616,014 |  |  |  |  |  | 596,123 |  | 596,123
Trade payables |  | 15 |  |  |  |  |  | 116,397 |  | 116,397 |  |  |  |  |  | 31,060 |  | 31,060
Derivative financial instruments |  | 16 |  |  |  | 47,844 |  |  |  | 47,844 |  |  |  | 60,468 |  |  |  | 60,468
Concessions payable |  | 16 |  |  |  |  |  | 73,713 |  | 73,713 |  |  |  |  |  | 74,177 |  | 74,177
Total |  |  |  |  |  | 47,844 |  | 38,691,137 |  | 38,738,981 |  |  |  | 60,468 |  | 38,473,476 |  | 38,533,944
Total Liabilities |  |  |  |  |  | 47,844 |  | 59,547,122 |  | 59,594,966 |  | 672,280 |  | 324,215 |  | 58,342,488 |  | 59,338,983

Quarterly Financial Information – March 31, 2024 – Companhia Siderúrgica Nacional (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) |

|  |  |  |  |  |  |  |  |  |  |  |  |  | Parent Company
|  |  |  |  |  | 03/31/2024 |  |  |  | 12/31/2023
| Notes |  | Fair value through profit or loss |  | Measured at amortized cost |  | Balances |  | Fair value through profit or loss |  | Measured at amortized cost |  | Balances
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | 3 |  |  |  | 2,009,506 |  | 2,009,506 |  |  |  | 2,270,070 |  | 2,270,070
Short-term investments |  | 4 |  | 1,551,033 |  | 32,745 |  | 1,583,778 |  | 1,493,204 |  | 31,505 |  | 1,524,709
Trade receivables |  | 5 |  |  |  | 2,146,627 |  | 2,146,627 |  |  |  | 1,870,367 |  | 1,870,367
Derivative financial instruments |  | 8 |  | 9,808 |  |  |  | 9,808 |  | 12,122 |  |  |  | 12,122
Dividends and interest on equity |  | 8 |  |  |  | 579,327 |  | 579,327 |  |  |  | 562,938 |  | 562,938
Trading securities |  | 8 |  | 5,648 |  |  |  | 5,648 |  | 7,054 |  |  |  | 7,054
Loans - related parties |  | 8 |  |  |  | 5,287 |  | 5,287 |  |  |  | 5,316 |  | 5,316
Total |  |  |  | 1,566,489 |  | 4,773,492 |  | 6,339,981 |  | 1,512,380 |  | 4,740,196 |  | 6,252,576
Non-current |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investments |  | 4 |  |  |  | 114,913 |  | 114,913 |  |  |  | 111,350 |  | 111,350
Other trade receivables |  | 8 |  |  |  | 1,003 |  | 1,003 |  |  |  | 1,003 |  | 1,003
Eletrobrás compulsory loan |  | 8 |  |  |  | 59,688 |  | 59,688 |  |  |  | 60,136 |  | 60,136
Receivables by indemnity |  | 8 |  |  |  | 1,167,671 |  | 1,167,671 |  |  |  | 992,577 |  | 992,577
Loans - related parties |  | 8 |  |  |  | 2,209,144 |  | 2,209,144 |  |  |  | 2,096,536 |  | 2,096,536
Investments |  | 9 |  | 1 |  |  |  | 1 |  | 78,737 |  |  |  | 78,737
Total |  |  |  | 1 |  | 3,552,419 |  | 3,552,420 |  | 78,737 |  | 3,261,602 |  | 3,340,339
Total Assets |  |  |  | 1,566,490 |  | 8,325,911 |  | 9,892,401 |  | 1,591,117 |  | 8,001,798 |  | 9,592,915
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  |  |  |  |  |  |  |  |  |  |  |  |  |
Borrowings and financing |  | 12 |  |  |  | 6,468,419 |  | 6,468,419 |  |  |  | 5,613,314 |  | 5,613,314
Leases |  | 14 |  |  |  | 4,094 |  | 4,094 |  |  |  | 6,523 |  | 6,523
Trade payables |  | 15 |  |  |  | 3,944,351 |  | 3,944,351 |  |  |  | 3,976,931 |  | 3,976,931
Trade payables -drawee risk |  | 15.a |  |  |  | 4,390,939 |  | 4,390,939 |  |  |  | 3,980,003 |  | 3,980,003
Dividends and interest on capital |  | 16 |  |  |  | 5,159 |  | 5,159 |  |  |  | 5,230 |  | 5,230
Total |  |  |  |  |  | 14,812,962 |  | 14,812,962 |  |  |  | 13,582,001 |  | 13,582,001
Non-current |  |  |  |  |  |  |  |  |  |  |  |  |  |
Borrowings and financing |  | 12 |  |  |  | 19,401,610 |  | 19,401,610 |  |  |  | 18,168,815 |  | 18,168,815
Leases |  | 14 |  |  |  | 152 |  | 152 |  |  |  | 476 |  | 476
Trade payables |  | 15 |  |  |  | 100,010 |  | 100,010 |  |  |  | 11,184 |  | 11,184
Total |  |  |  |  |  | 19,501,772 |  | 19,501,772 |  |  |  | 18,180,475 |  | 18,180,475
Total Liabilities |  |  |  |  |  | 34,314,734 |  | 34,314,734 |  |  |  | 31,762,476 |  | 31,762,476

| · | Fair value measurement

The following table shows the financial instruments recorded at fair value by classifying them according to the fair value hierarchy:

Quarterly Financial Information – March 31, 2024 – Companhia Siderúrgica Nacional (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) |

Consolidated |  |  |  |  |  | 03/31/2024 |  |  |  |  |  | 12/31/2023
| Level 1 |  | Level 2 |  | Balances |  | Level 1 |  | Level 2 |  | Balances
Assets |  |  |  |  |  |  |  |  |  |  |  |
Current |  |  |  |  |  |  |  |  |  |  |  |
Financial investments |  | 1,551,033 |  |  |  | 1,551,033 |  | 1,493,204 |  |  |  | 1,493,204
Derivative financial instruments |  |  |  | 286,406 |  | 286,406 |  | 32,211 |  |  |  | 32,211
Trading securities |  | 5,797 |  |  |  | 5,797 |  | 7,198 |  |  |  | 7,198
Non-current |  |  |  |  |  |  |  |  |  |  |  |
Investments |  | 1 |  |  |  | 1 |  | 78,737 |  |  |  | 78,737
Total Assets |  | 1,556,831 |  |  |  | 1,843,237 |  | 1,611,350 |  |  |  | 1,611,350
Liabilities |  |  |  |  |  |  |  |  |  |  |  |
Current |  |  |  |  |  |  |  |  |  |  |  |
Derivative financial instruments |  |  |  |  |  |  |  |  |  | 263,747 |  | 263,747
Non-current |  |  |  |  |  |  |  |  |  |  |  |
Derivative financial instruments |  |  |  | 47,844 |  | 47,844 |  |  |  | 60,468 |  | 60,468
Total Liabilities |  |  |  | 47,844 |  | 47,844 |  |  |  | 324,215 |  | 324,215

Level 1 - Data prices are quoted in an active market for items identical to the assets and liabilities being measured.

Level 2 - Consider inputs observable in the market, such as interest rates, exchange rates, etc., but are not prices negotiated in active markets.

Level 3 - There are no assets and liabilities classified as level 3.

| 13.b) | Financial risk management

The Company uses risk management strategies with guidance on the risks incurred by us. The nature and general position of financial risks are regularly monitored and managed in order to assess results and the financial impact on cash flow. Credit limits and hedge quality of counterparties are also reviewed periodically.

Market risks are hedged when we consider necessary to support the corporate strategy or when it is necessary to maintain the level of financial flexibility.

We are exposed to exchange rate, interest rate, market price and liquidity risks.

The Company may manage some of the risks through the use of derivative instruments not associated with any speculative trading or short selling.

| · | Exchange rate risk

The exposure arises from the existence of assets and liabilities denominated in Dollar or Euro, since the Company’s functional currency is substantially the Real and is referred to as natural exchange exposure. The net exposure is the result of the offsetting of the natural exchange exposure by the instruments of hedge adopted by CSN.

The consolidated net exposure as of March 31, 2024, is shown below:

Quarterly Financial Information – March 31, 2024 – Companhia Siderúrgica Nacional (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) |

|  | 03/31/2024 | 12/31/2023
Foreign Exchange Exposure |  | (Amounts in US$’000) |  | (Amounts in US$’000)
Cash and cash equivalents overseas |  | 1,640,589 |  | 2,228,736
Trade receivables |  | 57,588 |  | 292,028
Financial investments |  | 15,113 |  | 15,597
Borrowings and financing |  | (5,897,589) |  | (5,615,893)
Trade payables |  | (495,710) |  | (524,622)
Others |  | (37,026) |  | (42,474)
Natural Gross Foreign Exchange Exposure (assets - liabilities) |  | (4,717,035) |  | (3,646,628)
Cash flow hedge accounting |  | 3,863,589 |  | 3,931,879
Exchange rate swap CDI x Dollar |  | (132,598) |  | (67,000)
Exchange rate swap Real x Dollar |  | (115,000) |  | (115,000)
Net foreign exchange exposure |  | (1,101,044) |  | 103,251

CSN uses Hedge Accounting strategy, as well as derivative financial instruments to protect future cash flows.

Sensitivity analysis of Derivative Financial Instruments and Consolidated Foreign Exchange Exposure

The Company considered scenarios 1 and 2 to be 25% and 50% deterioration for currency volatility, using the exchange rate closing rate as of March 31, 2024, as a reference.

The currencies used in the sensitivity analysis and their respective scenarios are shown below:

|  |  |  |  |  |  |  | 03/31/2024
Currency |  | Exchange rate |  | Probable scenario |  | Scenario 1 |  | Scenario 2
USD |  | 4.9962 |  | 5.0887 |  | 6.2453 |  | 7.4943
EUR |  | 5.3979 |  | 5.4739 |  | 6.7474 |  | 8.0969
USD x EUR |  | 1.0804 |  | 1.0757 |  | 1.3505 |  | 1.6206

The effects on the result, considering scenarios 1 and 2, are shown below:

|  | 03/31/2024
Instruments |  | Notional (million USD) |  | Risk |  | Probable scenario (*) |  | Scenario 1 |  | Scenario 2
Gross exchange position |  | (4,717) |  | Dollar |  | (436) |  | (5,892) |  | (11,784)
Cash flow hedge accounting |  | 3,864 |  | Dollar |  | 357 |  | 4,826 |  | 9,652
Exchange rate swap CDI x Dollar |  | (133) |  | Dollar |  | (12) |  | (166) |  | (332)
Exchange rate swap Real x Dollar |  | (115) |  | Dollar |  | (11) |  | (144) |  | (287)
Net exchange position |  | (1,101) |  | Dollar |  | (102) |  | (1,376) |  | (2,751)

(*) The probable scenarios were calculated considering the following variations for the risks: Real x Dollar - devaluation by 1.85% / Real x Euro - devaluation of the real by 1.41% / Euro x Dollar - appreciation of the dollar by 0.44%. Source: Central Bank of Brazil on May 08, 2024

Quarterly Financial Information – March 31, 2024 – Companhia Siderúrgica Nacional (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) |

| · | Interest rate risk

This risk arises from financial investments, borrowings and financing and debentures linked to the fixed and floating interest rates of the CDI, TLP, SOFR, exposing these financial assets and liabilities to interest rate fluctuations as shown in the sensitivity analysis table below.

With the modification of the global financial market in recent years and in line with the recommendations of international regulatory bodies, the market began to transition from the Libor rate (London Interbank Offered Rate) to the SOFR (Secured Overnight Financing Rate) as of 2022. On March 31,2024,all contracts were migrated to SOFR, as evidenced in the interest rate sensitivity analysis.

Sensitivity analysis of changes in interest rates

We present below the sensitivity analysis for interest rate risks. The Company considered scenarios 1 and 2 to be 25% and 50% deterioration for interest rate volatility using the closing rate as of March 31, 2024, as a reference.

The interest rates used in the sensitivity analysis and their scenarios are shown below:

|  |  |  |  |  | Consolidated
|  |  |  |  |  | 03/31/2024
Interest |  | Interest rate |  | Scenario 1 |  | Scenario 2
CDI |  | 10.65% |  | 13.31% |  | 15.98%
TJLP |  | 6.53% |  | 8.16% |  | 9.80%
IPCA |  | 4.62% |  | 5.78% |  | 6.93%
SOFR 6M |  | 5.22% |  | 6.52% |  | 7.83%
SOFR |  | 5.38% |  | 6.73% |  | 8.07%
EURIBOR 3M |  | 3.89% |  | 4.87% |  | 5.84%
EURIBOR 6M |  | 3.85% |  | 4.81% |  | 5.78%

The effects on balances in reais related to assets and liabilities linked to interest rates, considering scenarios 1 and 2, are shown below:

|  |  |  |  |  |  |  |  |  | Impact on balances on 03/31/2024
Changes in interest rates |  | % p.a |  | Assets |  | Liabilities |  | Probable scenario (*) |  | Scenario 1 |  | Scenario 2
CDI |  | 10.65% |  | (6,911,695) |  | 2,469,985 |  | (4,914,752) |  | (5,033,012) |  | (5,151,273)
TJLP |  | 6.53% |  |  |  | 77,766 |  | 82,844 |  | 84,114 |  | 85,383
IPCA |  | 4.62% |  |  |  | 7,739 |  | 8,097 |  | 8,186 |  | 8,275
SOFR 6M |  | 5.22% |  |  |  | 1,388,944 |  | 1,461,416 |  | 1,479,534 |  | 1,497,652
SOFR |  | 5.38% |  |  |  | 455,653 |  | 480,168 |  | 486,296 |  | 492,425
EURIBOR 3M |  | 3.89% |  |  |  | 363,658 |  | 377,812 |  | 381,350 |  | 384,889
EURIBOR 6M |  | 3.85% |  |  |  | 6,558 |  | 6,811 |  | 6,874 |  | 6,937

(*) The sensitivity analysis is based on the premise of maintaining the market values as of Marchr 31, 2024 as a probable scenario recorded in the company´s assets and liabilities.

| · | Market price risk

The Company is also exposed to market risks related to the volatility of commodity and input prices. In line with its risk management policy, risk mitigation strategies involving commodities can be used to reduce cash flow volatility. These mitigation strategies may incorporate derivative instruments, predominantly forward transactions, futures, and options.

Below are the instruments for price risk protection, as shown in the following topics:

a) Cash flow hedge accounting - “Platts” index

Quarterly Financial Information – March 31, 2024 – Companhia Siderúrgica Nacional (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) |

The Company had derivative operations for iron ore, contracted by the subsidiary CSN Mineração, with the objective of reducing the volatility of its exposure to the commodity.

In order to better reflect the accounting effects of the Platts hedge strategy in the result, CSN Mineração opted to make the formal designation of the hedge and consequently adopted hedge accounting of the iron ore derivative as a hedge accounting instrument of its highly probable future iron ore sales. With this, the mark-to-market resulting from the volatility of Platts will be temporarily recorded in shareholders' equity and will be taken to the result when the referred sales occur according to the contracted period of assessment, thus allowing the recognition of the volatility of Platts on the sales of iron ore to be recognized at the same moment.

The table below shows the result of the derivative instrument until March 31, 2024:

|  |  |  | 03/31/2024 |  | 03/31/2024 |  | 03/31/2023 |  | 03/31/2024 |  | 03/31/2023 |  | 03/31/2024 |  | 03/31/2023
|  |  |  | Appreciation (R$) |  | Fair value (market) |  | Other income and expenses (note 26) |  | Other comprehensive income |  | Exchange variation (note 27)
Maturity |  | Notional |  | Asset position |  | Liability position |  | Amounts receivable / (payable) |  |  |
01/01/2023 to 09/30/2023 (Settled) |  | Platts |  |  |  |  |  |  |  |  |  | (568,027) |  |  |  | (198,005) |  |  |  | 9,773
01/01/2024 to 01/31/2024 (Settled) |  | Platts |  |  |  |  |  |  |  | (202,702) |  |  |  |  |  |  |  | (719) |  |
02/01/2024 to 02/28/2024 (Settled) |  | Platts |  |  |  |  |  |  |  | (39,977) |  |  |  |  |  |  |  | (133) |  |
03/01/2024 to 03/31/2024 (*) |  | Platts |  | 1,649,233 |  | (1,395,446) |  | 253,787 |  | 248,710 |  |  |  |  |  |  |  | 5,132 |  |
04/01/2024 to 04/30/2024 |  | Platts |  | 1,351,585 |  | (1,050,251) |  | 301,333 |  |  |  |  |  | 295,985 |  |  |  | 5,349 |  |
05/01/2024 to 05/31/2024 |  | Platts |  | 867,453 |  | (668,417) |  | 199,036 |  |  |  |  |  | 194,923 |  |  |  | 4,113 |  |
06/01/2024 to 06/30/2024 |  | Platts |  | 877,120 |  | (664,370) |  | 212,751 |  |  |  |  |  | 208,684 |  |  |  | 4,067 |  |
|  |  |  | 4,745,391 |  | (3,778,484) |  | 966,907 |  | 6,031 |  | (568,027) |  | 699,592 |  | (198,005) |  | 17,808 |  | 9,773

(*) The operation matured on March 31, 2024 and was settled in early April 2024.

The changes in the amounts related to cash flow hedge accounting - Platts index recorded in shareholders' equity on March 31, 2024, are shown as follows:

| 12/31/2023 |  | Movement |  | Realization |  | 03/31/2024
Cash flow hedge accounting – “Platts” | (672,280) |  | 1,377,903 |  | (6,031) |  | 699,592
Income tax and social contribution on cash flow hedge accounting | 228,575 |  | (468,487) |  | 2,051 |  | (237,861)
Fair Value of cash flow accounting - Platts, net | (443,705) |  | 909,416 |  | (3,980) |  | 461,731

The cash flow hedge accounting - Platts index – is fully effective since the derivative instruments were contracted.

To support the above-mentioned designations, the Company prepared formal documentation indicating how the designation of cash flow hedge accounting - Platts index is aligned with CSN's risk management objective and strategy, identifying the hedge instruments used, the hedge object, the nature of the risk to be protected and demonstrating the expectation of high effectiveness of the relations designated. Iron ore derivative instruments (“Platts” index) were designated in amounts equivalent to the portion of future sales, comparing the amounts designated with the amounts expected and approved in the Management and Board budgets.

Sensitivity analysis for Platts price risks

We present below the sensitivity analysis for Platts price risks. The Company considered scenarios 1 and 2 with 25% and 50% price devaluation using as a reference the probable price at the maturity of each operation.

The effects on the result, considering probable scenarios 1 and 2, are shown below:

Quarterly Financial Information – March 31, 2024 – Companhia Siderúrgica Nacional (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) |

|  | 03/31/2024
Maturity |  | Probable scenario (*) R$ |  | Scenario 1 R$ |  | Scenario 2 R$
04/01/2024 to 04/30/2024 |  | (52,489) |  | (306,953) |  | (561,417)
05/01/2024 to 05/31/2024 |  | (25,617) |  | (228,346) |  | (431,074)
06/01/2024 to 06/30/2024 |  | (2,694) |  | (74,810) |  | (146,925)
|  | (80,800) |  | (610,109) |  | (1,139,416)

(*) The probable scenario was calculated considering the Platts quotation on April 30,2024.

b) Cash flow hedge accounting

Foreign Exchange Hedge Accounting

The Company and its subsidiary CSN Mineração formally designates relations of hedge of cash flows to protect highly probable future flows exposed to the dollar related to sales made in dollars.

With the objective of better reflecting the accounting effects of the hedge exchange rate in the result, CSN and its subsidiary CSN Mineração designated part of their dollar liabilities as an instrument of future hedge exports. As a result, the exchange rate variation resulting from the designated liabilities will be temporarily recorded in shareholders’ equity and will be reflected in the income statement when said exports occur, thus allowing the recognition of dollar fluctuations on liabilities and on exports to be recorded at the same time. It is noteworthy that the adoption of this hedge accounting does not imply the contracting of any financial instrument.

The table below presents a summary of the relations of hedge as of March 31, 2024:

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 03/31/2024
Designation Date |  | Hedging Instrument |  | Hedged item |  | Type of hedged risk |  | Hedged period |  | Exchange rate on designation |  | Designated amounts (US$’000) |  | Amortizated part (USD'000) |  | Effect on Result (*) (R$'000) |  | Impact on Shareholders' equity (R$'000)
04/02/2018 |  | Bonds |  | Part of the highly probable future monthly iron ore exports |  | Foreign exchange - R$ vs. US$ spot rate |  | July 2018 - February 2023 |  | 3.3104 |  | 1,170,045 |  | (1,170,045) |  |  |  |
07/31/2019 |  | Bonds and Export prepayments in US$ to third parties |  | Part of the highly probable future monthly iron ore exports |  | Foreign exchange - R$ vs. US$ spot rate |  | January 2020 - April 2026 |  | 3.7649 |  | 1,342,761 |  | (871,761) |  |  |  | (579,942)
01/10/2020 |  | Bonds |  | Part of the highly probable future monthly iron ore exports |  | Foreign exchange - R$ vs. US$ spot rate |  | March 2020 to November 2025 and December 2050 |  | 4.0745 |  | 1,416,000 |  | (1,404,021) |  |  |  | (1,334,169)
01/28/2020 |  | Bonds |  | Part of the highly probable future monthly iron ore exports |  | Foreign exchange - R$ vs. US$ spot rate |  | March 2027 - January 2028 |  | 4.2064 |  | 1,000,000 |  |  |  |  |  | (789,800)
06/01/2022 |  | Bonds and Export prepayments in US$ to third parties |  | Part of the highly probable future monthly iron ore exports |  | Foreign exchange - R$ vs. US$ spot rate |  | June 2022 - April 2032 |  | 4.7289 |  | 1,145,300 |  | (151,300) |  | (3,969) |  | (265,696)
12/01/2022 |  | Bonds |  | Part of the highly probable future monthly iron ore exports |  | Foreign exchange - R$ vs. US$ spot rate |  | December 2022 - June 2031 |  | 5.0360 |  | 490,000 |  | (37,000) |  |  |  | 18,029
12/01/2022 |  | Advance on foreign exchange contract |  | Part of the highly probable future monthly iron ore exports |  | Foreign exchange - R$ vs. US$ spot rate |  | December 2022 - November 2023 |  | 5.1643 |  | 60,000 |  | (60,000) |  |  |  |
12/01/2022 |  | Advance on foreign exchange contract |  | Part of the highly probable future monthly iron ore exports |  | Foreign exchange - R$ vs. US$ spot rate |  | December 2022 - December 2025 |  | 5.2565 |  | 100,000 |  |  |  |  |  | 26,030
12/01/2022 |  | Advance on foreign exchange contract |  | Part of the highly probable future monthly iron ore exports |  | Foreign exchange - R$ vs. US$ spot rate |  | December 2022 - January 2024 |  | 5.2660 |  | 50,000 |  | (50,000) |  | 17,240 |  |
12/01/2022 |  | Advance on foreign exchange contract |  | Part of the highly probable future monthly iron ore exports |  | Foreign exchange - R$ vs. US$ spot rate |  | December 2022 - November 2023 |  | 5.3270 |  | 20,000 |  | (20,000) |  |  |  |
06/01/2022 |  | Export prepayments in US$ to third parties |  | Part of the highly probable future monthly iron ore exports |  | Foreign exchange - R$ vs. US$ spot rate |  | June 2022 - May 2033 |  | 4.7289 |  | 878,640 |  | (115,030) |  | (1,049) |  | (204,113)
12/01/2022 |  | Export prepayments in US$ to third parties |  | Part of the highly probable future monthly iron ore exports |  | Foreign exchange - R$ vs. US$ spot rate |  | December 2022 - June 2027 |  | 5.0360 |  | 70,000 |  |  |  |  |  | 2,786
|  |  |  |  |  |  |  |  |  |  |  | 7,742,746 |  | (3,879,157) |  | 12,222 |  | (3,126,875)

(*) The realization of Hedge accounting cash flow is recognized in Other operating income and expenses, note 25.

The net balance of amounts designated and already amortized in dollars totals US$3.879.157.

Quarterly Financial Information – March 31, 2024 – Companhia Siderúrgica Nacional (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) |

In the hedging relationships described above, the amounts of the debt instruments were fully designated for equivalent iron ore export portions.

As of March 31, 2024, the hedging relationships established by the Company were effective according to the retrospective and prospective tests performed. Thus, no reversal for cash flow hedge accounting ineffectiveness was recognized.

c) Net investment hedge in foreign subsidiaries

The information related to the net investment hedge did not change in relation to that disclosed in the Company's interim financial information as of December 31, 2023. The balance recorded as of March 31, 2024 and December 31, 2023 is R$6,293.

d) Hedge accounting movements

The changes in the amounts related to cash flow hedge accounting recorded in shareholders’ equity as of March 31, 2024 are shown as follows:

|  |  |  |  |  |  | Consolidated
| 12/31/2023 |  | Movement |  | Realization |  | 03/31/2024
Cash flow hedge accounting | (2,509,225) |  | (605,428) |  | (12,222) |  | (3,126,875)
Income tax and social contribution on cash flow hedge accounting | 853,137 |  | 205,846 |  | 4,155 |  | 1,063,138
Fair Value of cash flow accounting, net taxes | (1,656,088) |  | (399,582) |  | (8,067) |  | (2,063,737)
|  |  |  |  |  |  | Parent Company
| 12/31/2023 |  | Movement |  | Realization |  | 03/31/2024
Cash flow hedge accounting | (2,436,542) |  | (475,735) |  | (13,271) |  | (2,925,548)
Income tax and social contribution on cash flow hedge accounting | 828,424 |  | 161,750 |  | 4,512 |  | 994,686
Fair Value of cash flow accounting, net taxes | (1,608,118) |  | (313,985) |  | (8,759) |  | (1,930,862)

| · | Credit risk

The exposure to credit risks of financial institutions considers the parameters established in the financial policy. The Company practices a detailed analysis of the financial situation of its customers and suppliers, the determination of a credit limit and the permanent monitoring of its outstanding balance.

With regard to financial investments, the Company only invests in institutions with low credit risk assessed by credit rating agencies. Since part of the funds is invested in repo operations that are backed by Brazilian government bonds, there is also exposure to the credit risk of the country.

As for the exposure to credit risk in accounts receivable and other receivables, the Company has a credit risk committee, in which each new customer is analyzed individually regarding their financial condition, before granting the credit limit and payment terms, and periodically reviewed based on procedures and circumstances of each business area.

| · | Liquidity risk

It is the risk that the Company may not have sufficient net funds to honor its financial commitments as a result of the mismatch of term or volume between expected receipts and payments.

Future receipt and payment premises are established to manage cash liquidity in domestic and foreign currencies, which are monitored on a day-to-day basis by the Treasury Department. The payment schedules for long-term installments of borrowings, financing and debentures are shown in note 12.b.

The following are the contractual maturities of financial liabilities including interest.

Quarterly Financial Information – March 31, 2024 – Companhia Siderúrgica Nacional (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) |

|  |  |  |  |  |  |  |  | Consolidated
On March 31, 2024 | Less than one year |  | From one to two years |  | From two to five years |  | Over five years |  | Total
Borrowings, financing and debentures (note 12) | 9,092,655 |  | 8,494,331 |  | 12,611,567 |  | 16,779,114 |  | 46,977,668
Lease Liabilities (note 14) | 177,758 |  | 173,382 |  | 192,960 |  | 249,672 |  | 793,772
Derivative financial instruments (note 13 a) |  |  | 47,844 |  |  |  |  |  | 47,844
Trade payables (note 15) | 6,956,503 |  | 44,122 |  | 47,702 |  | 24,573 |  | 7,072,900
Trade payables – Drawee risk (note 15.a) | 4,548,516 |  |  |  |  |  |  |  | 4,548,516
Dividends and interest on equity (note 16) | 80,553 |  |  |  |  |  |  |  | 80,553
| 20,855,985 |  | 8,759,679 |  | 12,852,229 |  | 17,053,359 |  | 59,521,253

IV - Fair values of assets and liabilities in relation to the book value

Financial assets and liabilities measured at fair value through profit or loss are recorded in current and non-current assets and liabilities and gains and losses are recorded as financial income and expenses, respectively.

The amounts are recorded in the interim financial information at their book values, which are substantially similar to those that would be obtained if they were traded on the market. The fair values of other long-term assets and liabilities do not differ significantly from their book values, except for the amounts below.

The estimated fair value for certain consolidated long-term borrowings and financing was calculated at current market rates, considering the nature, term and risks similar to those of the registered contracts, as follows:

|  |  | 03/31/2024 |  |  |  | 12/31/2023
| Closing Balance |  | Fair value |  | Closing Balance |  | Fair value
Fixed Rate Notes (*) | 17,987,789 |  | 16,566,986 |  | 15,030,441 |  | 12,825,475

(*) Source: Bloomberg

| 13.c) | Protection instruments: Derivatives

· Derivative financial instruments portfolio position

Swap exchange rate CDI x Dollar

In October 2023, the Company entered into a new swap agreement with the purpose of mitigating the risk associated with an External Credit Note (NCE) acquired during the same period, which is scheduled to mature in October 2028, and which has a principal amount of R$680 million.

Swap exchange rate Real x Dollar

The subsidiary CSN Cimentos Brasil, after contracting a borrowing in foreign currency of US$115,000, contracted derivative operations to protect its exposure to the dollar, maturing on June 10, 2027.

Swap exchange rate CDI x IPCA

The CSN Mineração, CSN Cimentos Brasil and CSN issued debentures during 2022 and 2023, respectively, and entered derivative transactions to hedge their exposure to the IPCA. CSN Mineração's contracts have maturities scheduled from 2031 to 2037, while CSN Cimentos' contracts mature in 2038 and CSN between 2030 and 2038

Below is the position of the derivatives:

Quarterly Financial Information – March 31, 2024 – Companhia Siderúrgica Nacional (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) |

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Consolidated
|  |  |  |  |  |  |  |  |  |  |  |  |  | 03/31/2024 |  | 03/31/2023
|  |  |  |  |  |  |  | Appreciation (R$) |  | Fair value (market) |  | Impact on financial income (expenses) (note 26)
Instrument |  | Maturity |  | Functional Currency |  | Notional amount |  | Asset position |  | Liability position |  | Amounts receivable / (payable) |
Exchange rate swap |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Exchange rate swap CDI x Dollar |  | Settled |  | Dollar |  |  |  |  |  |  |  |  |  |  |  | 18,893
Exchange rate swap Dollar x Euro |  | 05/06/2024 |  | Dollar |  | 20,000 |  |  |  |  |  | 9,282 |  | 9,282 |  |
Exchange rate swap CDI x Dollar |  | 10/04/2028 |  | Real |  | 680,000 |  | 767,965 |  | (758,157) |  | 9,808 |  | (2,314) |  |
Dollar vs. Real Swap |  | 06/10/2027 |  | Dollar |  | 115,000 |  | 603,726 |  | (651,570) |  | (47,844) |  | 12,624 |  | (40,172)
Total Swap |  |  |  |  |  | 815,000 |  | 1,371,691 |  | (1,409,727) |  | (28,754) |  | 19,592 |  | (21,279)
Interest rate swap |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign Exchange Swap (Debentures) CDI x IPCA |  | 07/15/2031 |  | Real |  | 576,448 |  | 681,830 |  | (627,558) |  | 54,272 |  | (22,003) |  | 13,868
Foreign Exchange Swap (Debentures) CDI x IPCA |  | 07/15/2032 |  | Real |  | 745,000 |  | 846,215 |  | (809,333) |  | 36,881 |  | (24,961) |  | (2,226)
Foreign Exchange Swap (Debentures) CDI x IPCA |  | 07/15/2036 |  | Real |  | 423,552 |  | 725,580 |  | (697,807) |  | 27,773 |  | 3,789 |  | 20,287
Foreign Exchange Swap (Debentures) CDI x IPCA |  | 07/15/2037 |  | Real |  | 655,000 |  | 700,446 |  | (703,724) |  | (3,278) |  | (34,458) |  | (18,089)
Foreign Exchange Swap (Debentures) CDI x IPCA |  | 02/16/2032 |  | Real |  | 600,000 |  | 700,170 |  | (638,384) |  | 61,786 |  | (17,493) |  | 6,554
Foreign Exchange Swap (Debentures) CDI x IPCA |  | 02/12/2032 |  | Real |  | 600,000 |  | 698,549 |  | (652,249) |  | 46,300 |  | (25,594) |  | 22,749
Foreign Exchange Swap (Debentures) CDI x IPCA |  | 07/15/2030 |  | Real |  | 325,384 |  | 335,294 |  | (341,009) |  | 5,715 |  | (8,558) |  |
Foreign Exchange Swap (Debentures) CDI x IPCA |  | 07/15/2033 |  | Real |  | 183,185 |  | 187,974 |  | (192,169) |  | 4,195 |  | (5,969) |  |
Foreign Exchange Swap (Debentures) CDI x IPCA |  | 07/14/2028 |  | Real |  | 203,620 |  | 205,782 |  | (209,197) |  | 3,416 |  | 1,062 |  |
Total interest rate (Debentures) CDI x IPCA |  |  |  |  |  | 4,312,189 |  | 5,081,839 |  | (4,871,430) |  | 237,060 |  | (134,185) |  | 43,143
|  |  |  |  |  |  |  | 6,453,530 |  | (6,281,157) |  | 208,306 |  | (114,593) |  | 21,864

| · | Classification of derivatives in the balance sheet and income statement

|  |  |  |  |  |  |  |  |  | 03/31/2024 |  | 03/31/2023
Instruments |  | Assets |  | Liabilities |  | Financial income (expenses), net (note 26)
| Current |  | Total |  | Non-current |  | Total |
Iron ore derivative |  | 966,906 |  | 966,906 |  |  |  |  |  |  |  |
Exchange rate swap Dollar x Euro |  | 9,282 |  | 9,282 |  |  |  |  |  | 9,282 |  |
Exchange rate swap CDI x Dollar |  | 9,808 |  | 9,808 |  |  |  |  |  | (2,314) |  | 18,893
Exchange rate swap CDI x Dollar (1) |  |  |  |  |  | 237,060 |  | 237,060 |  | (134,185) |  | 43,143
Dollar vs. Real Swap |  |  |  |  |  | (47,844) |  | (47,884) |  | 12,624 |  | (40,172)
|  | 985,996 |  | 985,996 |  | 189,216 |  | 189,176 |  | (114,593) |  | 21,864

Derivative instruments SWAP CDI x IPCA are fully classified in the borrowings and financing group, since they are linked to debentures in order to protect exposure to the IPCA.

| 13.d) | Investments in securities measured at fair value through profit or loss

The Company has common shares (USIM3), preferred shares (USIM5) of Siderúrgica de Minas Gerais S.A. (“Usiminas”) and shares of Panatlântica S.A. (PATI3), which are designated as fair value through profit or loss, started to be recognized through the equity method, since there was an increase in participation, as described in Explanatory Note 10. Investments.

Usiminas shares are classified as current assets in financial investments and Panatlântica shares are classified as non-current assets under the investment line item. They are recorded at fair value, based on the market price quote in B3.

In accordance with the Company’s policy, the gains and losses arising from the variation in the share price are recorded directly in the income statement as financial result in the case of financial investments, or as other operating income and expenses in the case of long-term investments.

| · | Stock market price risks

Class of shares |  | 03/31/2024 |  | 12/31/2023 |  | 03/31/2024 |  | 03/31/2023
| Quantity |  | Equity interest (%) |  | Share price |  | Closing Balance |  | Quantity |  | Equity interest (%) |  | Share price |  | Closing Balance |  | Profit or loss (note 26)
USIM3 |  | 106,620,851 |  | 15.12% |  | 9.37 |  | 999,037 |  | 106,620,851 |  | 15.12% |  | 9.20 |  | 980,912 |  | 18,126 |  | 59,707
USIM5 |  | 55,144,456 |  | 10.07% |  | 10.01 |  | 551,996 |  | 55,144,456 |  | 10.07% |  | 9.29 |  | 512,292 |  | 39,704 |  | 7,169
|  |  |  |  |  |  |  | 1,551,033 |  |  |  |  |  |  |  | 1,493,204 |  | 57,830 |  | 66,876

Quarterly Financial Information – March 31, 2024 – Companhia Siderúrgica Nacional (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) |

The Company is exposed to the risk of changes in the stock price due to the investments measured at fair value through profit or loss that have their quotations based on the market price on the B3.

Sensitivity analysis for stock price risks

We present below the sensitivity analysis for the stock price risks. The Company considered scenarios 1 and 2 with 25% and 50% devaluation in the stock price using as reference the closing price on March 31, 2024. The probable scenario considered a 5% devaluation in the stock price.

The effects on the result, considering probable scenarios, 1 and 2 are demonstrated below:

|  |  |  | 03/31/2024
Class of shares |  | Probable scenario |  | Scenario 1 |  | Scenario 2
|  | 5% |  | 25% |  | 50%
USIM3 |  | (49,952) |  | (249,759) |  | (499,519)
USIM5 |  | (27,600) |  | (137,999) |  | (275,998)

| 13.e) | Capital management

The Company seeks to optimize its capital structure in order to reduce its financial costs and maximize the return to its shareholders. The table below shows the evolution of the Company’s consolidated capital structure, with financing by equity and third-party capital:

Thousands of reais |  | 03/31/2024 |  | 12/31/2023
Shareholder's equity (equity) |  | 19,758,908 |  | 19,684,838
Borrowings and Financing (Third-party capital) |  | 46,388,307 |  | 44,859,075
Gross Debit/Shareholder's equity |  | 2.35 |  | 2.28

14. LEASE LIABILITIES

Lease liabilities are shown below:

|  |  | Consolidated |  |  |  | Parent Company
| 03/31/2024 |  | 12/31/2023 |  | 03/31/2024 |  | 12/31/2023
Leases | 2,091,996 |  | 2,044,694 |  | 4,392 |  | 7,284
Present value adjustment - Leases | (1,298,224) |  | (1,310,933) |  | (146) |  | (285)
| 793,772 |  | 733,761 |  | 4,246 |  | 6,999
Classified: |  |  |  |  |  |  |
Current | 177,758 |  | 137,638 |  | 4,094 |  | 6,523
Non-current | 616,014 |  | 596,123 |  | 152 |  | 476
| 793,772 |  | 733,761 |  | 4,246 |  | 6,999

The Company has lease agreements for port terminals in Itaguaí, the Solid Bulk Terminal - TECAR, used for loading and unloading iron ores and others and the Container Terminal - TECON, with remaining terms of 24 and 28 years, respectively, and lease agreement for railway operation using the Northeast network with a remaining term of 4 years and a lease agreement for land located in Taubaté, São Paulo, for the expansion of operations in the Steel segment with a remaining term of 19 years.

Additionally, the Company has operating equipment lease agreements, used mainly in the cements and steel operations, and real estate, used as operating facilities and administrative and sales offices, in several locations where the Company operates, with remaining terms of 1 to 19 years.

The present value of the future obligations was measured using the implicit rate observed in the contracts and for the contracts that did not have a rate, the Company applied the incremental borrowing rate - IBR, both in nominal terms.

The average incremental rate used in the measurement of lease liabilities and right of use in contracts entered into in the year ended March 31, 2024 is 12.75% p.a. for contracts with a term of 1 year.

The movement of lease liabilities is shown in the table below:

Quarterly Financial Information – March 31, 2024 – Companhia Siderúrgica Nacional (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) |

|  |  | Consolidated |  |  |  | Parent Company
| 03/31/2024 |  | 12/31/2023 |  | 03/31/2024 |  | 12/31/2023
Opening balance | 733,761 |  | 693,846 |  | 6,999 |  | 13,180
New leases | 207 |  | 189,855 |  |  |  |
Present Value Adjustments - New leases | (5) |  | (116,640) |  |  |  |
Contract review | 100,698 |  | 124,310 |  | 83 |  | 3,992
Write-off | (915) |  |  |  |  |  |
Payments | (67,068) |  | (239,909) |  | (2,979) |  | (11,274)
Interest appropriated | 23,871 |  | 82,521 |  | 144 |  | 1,101
Exchange variation | 3,223 |  | (222) |  |  |  |
Net balance | 793,772 |  | 733,761 |  | 4,247 |  | 6,999

The estimated future minimum payments for the lease agreements include determinable variable payments, which are certain to occur, based on minimum performance and contractually fixed rates.

As of March 31, 2024, the expected minimum payments are the following:

|  |  |  |  |  |  | Consolidated
| Less than one year |  | Between one and five years |  | Over five years |  | Total
Leases | 187,752 |  | 492,783 |  | 1,411,461 |  | 2,091,996
Present value adjustment - Leases | (9,994) |  | (126,442) |  | (1,161,789) |  | (1,298,225)
| 177,758 |  | 366,342 |  | 249,672 |  | 793,772

| · | Recoverable PIS / COFINS

Lease liabilities were measured at the amount of consideration with suppliers, that is, without considering the tax credits incurred after payment. The potential right of PIS and COFINS embedded in the lease liability is shown below.

|  |  | Consolidated |  |  |  | Parent Company
| 03/31/2024 |  | 12/31/2023 |  | 03/31/2024 |  | 12/31/2023
Leases | 1,748,241 |  | 1,755,060 |  | 4,125 |  | 7,039
Present value adjustment - Leases | (1,180,416) |  | (1,195,780) |  | (135) |  | (274)
Potencial PIS and COFINS credit | 161,712 |  | 162,343 |  | 382 |  | 651
Present value adjustment – Potential PIS and COFINS credit | (109,188) |  | (110,610) |  | (12) |  | (25)

| · | Lease payments not recognized as a liability:

The Company chose not to recognize lease liabilities in contracts with a term of less than 12 months and for low value assets. Payments made for these contracts are recognized as expenses when incurred.

The Company has contracts for the right to use ports (TECAR) and railways (FTL) which, even if they establish minimum performance, it is not possible to determine its cash flow since these payments are fully variable and will only be known when they occur. In such cases, payments will be recognized as expenses when incurred.

The expenses related to payments not included in the measurement of the lease liability during the period are:

|  |  |  |  |  |  | Parent Company
| Three months ended |  | Three months ended
| 03/31/2024 |  | 03/31/2023 |  | 03/31/2024 |  | 03/31/2023
Contract less than 12 months | 499 |  | 1,530 |  |  |  |
Lower Assets value | 2,586 |  | 3,211 |  | 1,813 |  | 1,667
Variable lease payments | 73,189 |  | 90,123 |  |  |  |
| 76,274 |  | 94,864 |  | 1,813 |  | 1,667

In accordance with the guidelines of CPC 06(R2) / IFRS 16, the Company uses the discounted cash flow technique in the measurement and remeasurement of lease liabilities and right of use, without considering the projected inflation in the flows to be discounted.

Quarterly Financial Information – March 31, 2024 – Companhia Siderúrgica Nacional (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) |

15. TRADE PAYABLES

|  |  | Consolidated |  |  |  | Parent Company
| 03/31/2024 |  | 12/31/2023 |  | 03/31/2024 |  | 12/31/2023
Trade payables | 7,148,341 |  | 7,867,431 |  | 4,090,687 |  | 4,050,426
(-) Adjustment present value | (75,441) |  | (96,851) |  | (46,326) |  | (62,311)
| 7,072,900 |  | 7,770,580 |  | 4,044,361 |  | 3,988,115
Classified: |  |  |  |  |  |  |
Current | 6,956,503 |  | 7,739,520 |  | 3,944,351 |  | 3,976,931
Non-current | 116,397 |  | 31,060 |  | 100,010 |  | 11,184
| 7,072,900 |  | 7,770,580 |  | 4,044,361 |  | 3,988,115

| 15.a)Suppliers | – Drawn Risk and Forfaiting

|  |  | Consolidated |  |  |  | Parent Company
| 03/31/2024 |  | 12/31/2023 |  | 03/31/2024 |  | 12/31/2023
in Brazil | 3,082,454 |  | 2,843,455 |  | 3,082,454 |  | 2,843,455
in Abroad | 1,466,062 |  | 1,365,979 |  | 1,308,485 |  | 1,136,548
| 4,548,516 |  | 4,209,434 |  | 4,390,939 |  | 3,980,003

The Company discloses and classifies its drawn-risk and forfaiting operations with suppliers in a specific group where the nature of the securities continue to be part of the Company's operating cycle. These transactions are negotiated with financial institutions to enable the Company's suppliers to anticipate receivables arising from sales of goods and, consequently, to extend the payment terms of the Company's own obligations. On March 31, 2024, it maintained a balance of R$4,548,516 in the Consolidated Ledger and on December 31, 2023, a balance of R$4,209,434. At the Parent Company, the balance was R$ 4,390,939 and R$ 3,980,003, respectively.

In response to the amendment of the accounting standard CPC 03 Statement of Cash Flows, additional information was presented below:

Trade payables | Risk Drawn and Forfaiting |  | No Risk Drawn or Forfaiting
Due between 1 and 180 days | 2,703,505 |  | 2,924,889
Due between 181 to 360 days | 1,845,012 |  | 941,275
Total | 4,548,516 |  | 3,866,164

Impact of non-cash variations considering the 1st ITR of 2024:

Exchange variation | 37,784
Interest Appropriation | 102,659
Total | 140,444

Quarterly Financial Information – March 31, 2024 – Companhia Siderúrgica Nacional (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) |

| 16. | OTHER PAYABLES

The other payables classified in current and non-current liabilities are comprised as follows:

|  |  |  |  |  |  | Consolidated |  |  |  |  |  |  |  | Parent Company
| Current | Non-current |  | Current |  | Non-current
| 03/31/2024 |  | 12/31/2023 |  | 03/31/2024 |  | 12/31/2023 |  | 03/31/2024 |  | 12/31/2023 |  | 03/31/2024 |  | 12/31/2023
Payables to related parties (note 20.a) | 27,446 |  | 29,651 |  | 18,346 |  | 38,058 |  | 349,389 |  | 336,486 |  | 4,341 |  | 4,176
Derivative financial instruments (note 13.a) |  |  | 936,027 |  | 47,844 |  | 60,468 |  |  |  |  |  |  |  |
Dividends and interest on capital | 80,553 |  | 80,624 |  |  |  |  |  | 5,159 |  | 5,230 |  |  |  |
Advances from customers (1) | 2,015,273 |  | 2,063,509 |  | 4,668,253 |  | 5,144,623 |  | 332,914 |  | 277,764 |  | 657,408 |  | 709,495
Taxes in installments | 61,369 |  | 75,735 |  | 137,113 |  | 154,089 |  | 16,061 |  | 15,908 |  | 55,731 |  | 56,325
Profit sharing - employees | 337,472 |  | 260,109 |  |  |  |  |  | 173,665 |  | 133,996 |  |  |  |
Taxes payable |  |  |  |  | 31,096 |  | 30,902 |  |  |  |  |  | 9,439 |  | 9,320
Provision for consumption and services | 120,310 |  | 177,152 |  |  |  |  |  | 36,807 |  | 55,478 |  |  |  |
Third party materials in our possession | 168,771 |  | 285,250 |  |  |  |  |  | 168,705 |  | 284,444 |  |  |  |
Trade payables (note 15) |  |  |  |  | 116,397 |  | 31,060 |  |  |  |  |  | 100,010 |  | 11,184
Lease Liabilities (note 14) | 177,758 |  | 137,638 |  | 616,014 |  | 596,123 |  | 4,094 |  | 6,523 |  | 152 |  | 476
Concessions payable |  |  |  |  | 73,713 |  | 74,177 |  |  |  |  |  |  |  |
Other payables | 397,113 |  | 39,231 |  | 240,959 |  | 308,992 |  | 2,807 |  | 6,904 |  |  |  | 57,841
| 3,386,065 |  | 4,084,926 |  | 5,949,735 |  | 6,438,492 |  | 1,089,601 |  | 1,122,733 |  | 827,081 |  | 848,817

(1) Advances from Customers: On December 31, 2022 the subsidiaries CSN Mineração and CSN Cimentos entered into advance contracts for the sale of electricity with national operators in the sector to be executed up to 8 years. Additionally, the subsidiary CSN Mineração S.A. received in advance the total amount of US$500.000 (R$2,599,300) referring to supply contracts of approximately 13 million tons of iron ore signed with a major international player, to be executed within 4 years, with supply expected to begin in 2024. On June 30, 2023, the subsidiary CSN Mineração entered into an amendment to the advance contract, signed on January 16, 2023, in the amount of US$300,000 for additional supply of 6.3 million tons of iron ore. From this amendment, the Company received on June 30, 2023 the amount of US$205,000 (R$987,936), the remaining balance of US$95,000 will be received until July 31, 2023.

| 17. | INCOME TAX AND SOCIAL CONTRIBUTION

17.a) Income tax and social contribution recognized in profit or loss:

The income tax and social contribution recognized in net income for the period are as follows:

|  |  | Consolidated |  |  |  | Parent Company
| Three months ended |  | Three months ended
| 03/31/2024 |  | 03/31/2023 |  | 03/31/2024 |  | 03/31/2023
Income tax and social contribution income (expense) |  |  |  |  |  |  |
Current | (243,224) |  | (357,393) |  |  |  | (13,988)
Deferred | 305,154 |  | 143,951 |  | 245,724 |  | 88,060
| 61,930 |  | (213,442) |  | 245,724 |  | 74,072

The reconciliation of income tax and social contribution expenses and income of the consolidated and parent company and the product of the current tax rate on income before income tax and social contribution are shown below:

|  |  | Consolidated |  |  |  | Parent Company
| Three months ended |  | Three months ended
| 03/31/2024 |  | 03/31/2023 |  | 03/31/2024 |  | 03/31/2023
Profit/(Loss) before income tax and social contribution | (541,592) |  | (609,106) |  | (835,425) |  | (1,000,468)
Tax rate | 34% |  | 34% |  | 34% |  | 34%
Income tax and social contribution at combined statutory rate | 184,141 |  | 207,096 |  | 284,045 |  | 340,159
Equity in results of affiliated companies | 43,333 |  | 24,519 |  | (37,364) |  | 78,097
Difference Tax Rate in companies abroad | (147,492) |  | (74,582) |  |  |  |
Transfer Price Adjustment and Profits Abroad |  |  | 5,167 |  |  |  |
Indebtdness limit | 3,123 |  |  |  | 3,123 |  |
Tax incentives | 6,234 |  |  |  |  |  |
Recognition/(reversal) of tax credits | (28,467) |  | (364,833) |  |  |  | (341,302)
Other permanent deductions (additions) | 1,058 |  | (10,809) |  | (4,080) |  | (2,882)
Income tax and social contribution in net income for the year | 61,930 |  | (213,442) |  | 245,724 |  | 74,072
Effective tax rate | 11% |  | -35% |  | 29% |  | 7%

Quarterly Financial Information – March 31, 2024 – Companhia Siderúrgica Nacional (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) |

| 17.b) | Deferred income tax and social contribution:

Deferred income tax and social contribution balances are as follows:

|  |  |  | Consolidated |  |  |  | Parent Company
|  | 03/31/2024 |  | 12/31/2023 |  | 03/31/2024 |  | 12/31/2023
Deferred |  |  |  |  |  |  |  |
Income tax losses |  | 3,896,340 |  | 4,198,734 |  | 2,375,926 |  | 2,170,442
Social contribution tax losses |  | 1,333,631 |  | 1,441,925 |  | 877,629 |  | 803,655
Temporary differences |  | (425,661) |  | (911,027) |  | 371,837 |  | 239,313
Tax, social security, labor, civil and environmental provisions |  | 540,317 |  | 550,567 |  | 174,446 |  | 180,963
Estimated losses on assets |  | 249,709 |  | 238,211 |  | 163,747 |  | 165,218
Gains/(Losses) on financial assets |  | 375,442 |  | 328,678 |  | 329,936 |  | 349,121
Actuarial Liabilities (Pension and Health Plan) |  | 182,872 |  | 171,816 |  | 167,214 |  | 163,580
Provision for consumption and services |  | 14,277 |  | 22,346 |  | 13,994 |  | 20,579
Cash Flow Hedge Accounting and Unrealized Exchange Variations |  | 268,584 |  | 509,386 |  | 408,743 |  | 260,216
(Gain) on loss of control of Transnordestina |  | (224,096) |  | (224,096) |  | (224,096) |  | (224,096)
Fair Value SWT/CBL Acquisition |  | (149,489) |  | (149,489) |  |  |  |
Business combination |  | (1,466,876) |  | (1,473,119) |  | (721,992) |  | (721,992)
Others |  | (216,401) |  | (885,327) |  | 59,845 |  | 45,724
Total |  | 4,804,310 |  | 4,729,632 |  | 3,625,392 |  | 3,213,410
Total Deferred Assets |  | 5,514,339 |  | 5,991,213 |  | 3,625,392 |  | 3,213,410
Total Deferred Liabilities |  | (710,029) |  | (1,261,581) |  |  |  |
Total |  | 4,804,310 |  | 4,729,632 |  | 3,625,392 |  | 3,213,410

The Company has in its corporate structure subsidiaries abroad, whose income is taxed by the income tax in the respective countries where they were constituted at rates lower than those in force in Brazil. In the period between 2018 and 2023, these subsidiaries generated income in the amount of R$155,482. If the Brazilian tax authorities understand that this income is subject to additional taxation in Brazil for income tax and social contribution, these, if due, would reach approximately R$52,864. The Company, based on the position of its legal advisors, assessed only the likelihood of loss as possible in the event of possible tax questioning and, therefore, no provision was recognized in the interim financial information.

In addition, management evaluated the precepts of IFRIC 23 - “Uncertainty Over Income Tax Treatments” and recognized in 2021 the credit for the unconstitutionality of the levy of the IRPJ and CSLL on the amounts of default interest referring to the SELIC rate received due to the repetition of tax undue payment.

| 17.c) | Changes in deferred income tax and social contribution

The changes in deferred taxes is shown below:

|  | Consolidated |  | Parent Company
|  | 03/31/2024 |  | 03/31/2024
Balance as of January 01, 2023 |  | 4,878,768 |  | 3,256,712
Recognized in the result |  | 403,542 |  | 517,768
Recognized in other comprehensive income |  | (559,050) |  | (560,624)
Use of tax credit in installment program |  | (445) |  | (446)
Reverse incorporation |  | 6,818 |  |
Balance at December 31, 2023 |  | 4,729,633 |  | 3,213,410
Recognized in the result |  | 305,154 |  | 245,724
Recognized in other comprehensive income |  | (257,388) |  | 166,258
Corporate incorporation |  | 26,911 |  |
Balance at March 31, 2024 |  | 4,804,310 |  | 3,625,392

| 17.d) | Income tax and social contribution recognized in equity:

The income tax and social contribution recognized directly in equity are shown below:

Quarterly Financial Information – March 31, 2024 – Companhia Siderúrgica Nacional (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) |

|  |  | Consolidated |  |  |  | Parent Company
| 03/31/2024 |  | 12/31/2023 |  | 03/31/2024 |  | 12/31/2023
Income tax and social contribution |  |  |  |  |  |  |
Actuarial gains on defined benefit pension plan | 84,065 |  | 83,436 |  | 77,840 |  | 77,840
Exchange differences on translating foreign operations | (325,350) |  | (325,350) |  | (325,350) |  | (325,350)
Cash flow hedge accounting | 859,574 |  | 1,030,432 |  | 994,686 |  | 828,425
| 618,289 |  | 788,518 |  | 747,176 |  | 580,915

| 18. | PROVISIONS FOR TAX, SOCIAL SECURITY, LABOR, CIVIL AND ENVIRONMENTAL RISKS AND JUDICIAL DEPOSITS

Claims of different nature are being challenged at the appropriate courts. Details of the accrued amounts and related judicial deposits are as follows:

|  |  |  |  |  |  |  | Consolidated |  |  |  |  |  |  |  | Parent Company
|  | Accrued liabilities |  | Judicial deposits |  | Accrued liabilities |  | Judicial deposits
|  | 03/31/2024 |  | 12/31/2023 |  | 03/31/2024 |  | 12/31/2023 |  | 03/31/2024 |  | 12/31/2023 |  | 03/31/2024 |  | 12/31/2023
Tax |  | 156,577 |  | 154,626 |  | 153,524 |  | 153,715 |  | 19,137 |  | 21,378 |  | 60,928 |  | 61,231
Social security |  | 1,633 |  | 1,609 |  |  |  | 4 |  | 1,632 |  | 1,609 |  |  |  |
Labor |  | 361,873 |  | 366,645 |  | 291,823 |  | 288,389 |  | 149,014 |  | 153,048 |  | 129,274 |  | 133,676
Civil |  | 795,217 |  | 778,796 |  | 23,364 |  | 24,880 |  | 146,956 |  | 139,517 |  | 13,602 |  | 14,784
Environmental |  | 41,951 |  | 41,194 |  | 3,476 |  | 3,340 |  | 11,699 |  | 11,856 |  | 1,142 |  | 1,142
Deposit of a guarantee |  |  |  |  |  | 22,324 |  | 21,554 |  |  |  |  |  |  |  |
|  | 1,357,251 |  | 1,342,870 |  | 494,511 |  | 491,882 |  | 328,438 |  | 327,408 |  | 204,946 |  | 210,833
Classified: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | 36,997 |  | 36,000 |  |  |  |  |  | 17,078 |  | 15,228 |  |  |  |
Non-current |  | 1,320,254 |  | 1,306,870 |  | 494,511 |  | 491,882 |  | 311,360 |  | 312,180 |  | 204,946 |  | 210,833
|  | 1,357,251 |  | 1,342,870 |  | 494,511 |  | 491,882 |  | 328,438 |  | 327,408 |  | 204,946 |  | 210,833

The changes in tax, social security, labor, civil and environmental provisions in the year ended March 31, 2024 can be summarized as follows:

|  |  |  |  |  |  |  |  |  | Consolidated
|  |  |  |  |  |  |  |  |  | Current + Non-current
Nature |  | 12/31/2023 |  | Additions |  | Accrued charges |  | Net utilization of reversal |  | 03/31/2024
Tax |  | 154,626 |  | 4,564 |  | 2,786 |  | (5,399) |  | 156,577
Social security |  | 1,609 |  | 3 |  | 21 |  |  |  | 1,633
Labor |  | 366,645 |  | 14,491 |  | 11,779 |  | (31,042) |  | 361,873
Civil |  | 778,796 |  | 934 |  | 20,601 |  | (5,114) |  | 795,217
Environmental |  | 41,194 |  | 449 |  | 681 |  | (373) |  | 41,951
|  | 1,342,870 |  | 20,441 |  | 35,868 |  | (41,928) |  | 1,357,251

|  |  |  |  |  |  |  |  |  | Parent Company
|  |  |  |  |  |  |  |  |  | Current + Non-current
Nature |  | 12/31/2023 |  | Additions |  | Accrued charges |  | Net utilization of reversal |  | 03/31/2024
Tax |  | 21,378 |  | 542 |  | 228 |  | (3,013) |  | 19,135
Social security |  | 1,609 |  | 3 |  | 21 |  |  |  | 1,633
Labor |  | 153,048 |  | 2,747 |  | 4,955 |  | (11,736) |  | 149,014
Civil |  | 139,517 |  | 369 |  | 7,543 |  | (473) |  | 146,956
Environmental |  | 11,856 |  | 5 |  | 36 |  | (197) |  | 11,700
|  | 327,408 |  | 3,666 |  | 12,783 |  | (15,419) |  | 328,438

The provision for tax, social security, labor, civil and environmental risks was estimated by Management and is mainly based on the legal advisors’ assessment. Only lawsuits for which the risk is classified as probable loss are provisioned. Additionally, tax liabilities from actions initiated by the Company is included in this provision and is subject to SELIC (Central Bank’s policy rate).

Quarterly Financial Information – March 31, 2024 – Companhia Siderúrgica Nacional (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) |

| § | Possible administrative and judicial proceedings

The Company does not make provisions for lawsuits, which Management’s expectations, based on the opinion of legal counsel, is a possible loss. The following table shows a summary of the balance of the main matters classified as possible risk compared to the balance as of March 31, 2024 and December 31, 2023.

|  |  |  | Consolidated
|  | 03/31/2024 |  | 12/31/2023
Notice of Violation and Imposition of Fine (AIIM) / Tax Foreclosure - RFB - IRPJ/CSLL - Capital Gain for alleged sale of equity interest in subsidiary NAMISA |  | 15,878,441 |  | 15,606,600
Notice of Violation and Imposition of Fine (AIIM) / Tax Foreclosure - RFB - IRPJ/CSLL - Disallowance of goodwill deductions generated in the reverse incorporation of Big Jump by Namisa |  | 5,543,966 |  | 5,443,666
Notice of Violation and Imposition of Fine (AIIM) / Tax Enforcement - RFB - IRPJ/CSLL - Disallowance of prepayment interest arising from iron ore supply and port services contracts |  | 2,169,433 |  | 2,124,479
Notices of Infraction and Imposition of Fine (AIIM) / Writ of Mandamus - RFB - IRPJ/CSLL - Profits earned abroad in the years 2008, 2010, 2011, 2012, 2014, 2015, 2016, 2017 and 2018 |  | 5,944,670 |  | 5,828,921
Unapproved compensation - RFB - IRPJ/CSLL, PIS/COFINS and IPI |  | 2,059,861 |  | 2,052,564
ICMS - SEFAZ/RJ - Assessment Notice - questions about sales for incentive area |  | 1,030,430 |  | 1,016,381
Notice of Violation and Imposition of Fine (AIIM) - RFB - Disallowance of PIS/COFINS Credits for inputs and freight |  | 1,417,385 |  | 1,388,918
CFEM – difference of understanding between CSN and ANM on the calculation basis |  | 1,485,517 |  | 1,452,933
Notice of Infraction and Imposition of Fine (AIIM) - RFB - Collection IRRF - Business Combinations CMIN 2015 |  | 1,129,078 |  | 1,106,401
ICMS - SEFAZ/RJ - ICMS Credits Acquisition of Electric Energy Industrialization |  | 1,087,713 |  | 1,065,918
Notice of Violation and Imposition of Fine (AIIM) - IRPJ/CSLL - Disallowance of deductions of goodwill generated in the acquisition of Cimentos Mauá |  | 829,554 |  | 810,907
ICMS - SEFAZ/RJ - Disallowance of the ICMS credits - Transfer of iron ore |  | 743,681 |  | 731,416
ICMS - SEFAZ/RJ - Disallowance of credits on purchases of intermediate products |  | 456,630 |  | 445,682
Disallowance of tax loss and negative calculation base resulting from adjustments in SAPLI - RFB |  | 755,763 |  | 741,056
Infraction and Fine Imposition Notices (AIIM) - RFB - IRPJ/CSLL - Transfer Pricing |  | 369,957 |  | 363,043
ICMS - SEFAZ/RJ - Transfer of imported raw material for a value lower than the TECAR import document |  | 402,053 |  | 394,865
Notice of Violation and Imposition of Fine (AIIM) / Annulment Action - RFB - IRRF - Capital gain of CFM company sellers located abroad |  | 322,860 |  | 317,522
Other tax lawsuits (federal, state, and municipal) |  | 6,089,885 |  | 6,282,247
Social security lawsuits |  | 605,148 |  | 288,973
Action to discuss the balance of the construction contract – Tebas |  | 621,724 |  | 593,716
Action related to power supply payment’s charge - Light |  | 468,703 |  | 440,002
Action that discusses Negotiation of energy sales - COPEN - CEEE-G |  | 205,504 |  | 201,123
Collection of defaulted amounts of contracts for the execution of the Presidente Médici Thermoelectric Power Plant - SACE - CEEE-G |  | 210,996 |  | 205,262
Enforcement action applied by Brazilian antitrust authorities (CADE) |  | 124,591 |  | 122,136
Other civil lawsuits |  | 1,540,775 |  | 1,423,591
Labor and social security lawsuits |  | 2,192,230 |  | 2,091,666
Tax Foreclosure Volta Grande Fine IV |  | 146,202 |  | 137,668
ACP Márcia I Landfill |  | 306,389 |  | 306,389
Other environmental lawsuits |  | 706,597 |  | 667,901
|  | 54,845,736 |  | 53,651,946

Quarterly Financial Information – March 31, 2024 – Companhia Siderúrgica Nacional (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) |

In the first quarter of 2021, the Company was notified of an arbitration proceeding based on an alleged unfulfillment of iron ore supply contracts. The counterparty asks for approximately US$1 billion, and the Company has no knowledge of the basis for the estimates of the amount asked. Finally, the Company informs that has responded the arbitration requirements in conjunction with its legal counselors and is currently at the initial stage of its defense. The Company expects the arbitration will be concluded in 2 years. The relevance of the arbitration to the Company is related to the amount attributed to the cause and its eventual financial impact. The discussion involves arbitration disputes initiated by both parties.

The Company has been offering judicial guarantees (Guarantee Insurance/Letter of Guarantee) in the total amount updated to March 31, 2024, of R$9,021,041 (December 31, 2023, R$8,768,003), as determined by the procedural legislation in force.

The assessments made by legal advisors define these administrative and judicial proceedings as a possible risk of loss and, consequently, no loss provisions have been recognized in accordance with Management's judgment and with the accounting practices adopted in Brazil.

| 19. | PROVISION FOR ENVIRONMENTAL LIABILITIES AND ASSET RETIREMENT OBLIGATIONS

The balance of provisions for environmental liabilities and asset retirement obligation is as follows:

|  |  | Consolidated |  |  |  | Parent Company
| 03/31/2024 |  | 12/31/2023 |  | 03/31/2024 |  | 12/31/2023
Environmental liabilities | 171,460 |  | 176,181 |  | 157,327 |  | 160,968
Asset retirement obligations | 877,914 |  | 842,624 |  |  |  |
| 1,049,374 |  | 1,018,805 |  | 157,327 |  | 160,968

| 20. | RELATED-PARTY BALANCES AND TRANSACTIONS

| 20.a) | Transactions with subsidiaries, jointly controlled entities, associates, exclusive funds and other related parties

| · | Consolidated

|  | Consolidated
|  | 03/31/2024 |  | 12/31/2023
|  | Associates |  | Joint-ventures and Joint Operation |  | Other related parties |  | Total |  | Associates |  | Joint-ventures and Joint Operation |  | Other related parties |  | Total
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investments | (1) |  |  |  |  | 2,217,584 |  | 2,217,584 |  |  |  |  |  | 2,128,183 |  | 2,128,183
Trade receivables (note 5) | (2) | 38,793 |  | 4,166 |  | 57,660 |  | 100,619 |  | 34,441 |  | 2,658 |  | 131,268 |  | 168,367
Dividends | (3) |  |  | 106,867 |  | 74,050 |  | 180,917 |  |  |  | 106,747 |  |  |  | 106,747
Loans (note 8) | (4) |  |  | 5,287 |  |  |  | 5,287 |  |  |  | 5,316 |  |  |  | 5,316
Other assets (note 8) |  |  |  | 6,480 |  | 1,829 |  | 8,309 |  |  |  | 6,480 |  | 1,829 |  | 8,309
|  | 38,793 |  | 122,800 |  | 2,351,123 |  | 2,512,716 |  | 34,441 |  | 121,201 |  | 2,261,280 |  | 2,416,922
Non-current Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investments | (1) |  |  |  |  | 114,912 |  | 114,912 |  |  |  |  |  | 111,350 |  | 111,350
Loans (note 8) | (4) | 3,747 |  | 1,715,630 |  |  |  | 1,719,377 |  | 3,732 |  | 1,655,680 |  |  |  | 1,659,412
Actuarial asset |  |  |  |  |  | 40,351 |  | 40,351 |  |  |  |  |  | 39,530 |  | 39,530
Other assets (note 8) | (5) |  |  | 1,792,579 |  |  |  | 1,792,579 |  |  |  | 1,792,579 |  |  |  | 1,792,579
|  | 3,747 |  | 3,508,209 |  | 155,263 |  | 3,667,219 |  | 3,732 |  | 3,448,259 |  | 150,880 |  | 3,602,871
|  | 42,540 |  | 3,631,009 |  | 2,506,386 |  | 6,179,935 |  | 38,173 |  | 3,569,460 |  | 2,412,160 |  | 6,019,793
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Trade payables |  |  |  | 79,210 |  | 23,166 |  | 102,376 |  |  |  | 140,579 |  | 35,435 |  | 176,014
Accounts payable |  |  |  | 19,880 |  |  |  | 19,880 |  | 46 |  | 22,378 |  |  |  | 22,424
Provision for consumption |  |  |  | 7,567 |  |  |  | 7,567 |  |  |  | 7,227 |  |  |  | 7,227
|  |  |  | 106,657 |  | 23,166 |  | 129,823 |  | 46 |  | 170,184 |  | 35,435 |  | 205,665
Non-current Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable |  |  |  | 18,347 |  |  |  | 18,347 |  |  |  | 38,058 |  |  |  | 38,058
|  |  |  | 18,347 |  |  |  | 18,347 |  |  |  | 38,058 |  |  |  | 38,058
|  |  |  | 125,004 |  | 23,166 |  | 148,170 |  | 46 |  | 208,242 |  | 35,435 |  | 243,723

Quarterly Financial Information – March 31, 2024 – Companhia Siderúrgica Nacional (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) |

|  | Consolidated
|  | 03/31/2024 |  | 03/31/2023
|  | Associates |  | Joint-ventures and Joint Operation |  | Other related parties |  | Total |  | Associates |  | Joint-ventures and Joint Operation |  | Other related parties |  | Total
P&L |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales |  | 49,198 |  | 4,830 |  | 466,133 |  | 520,161 |  | 61,987 |  | 3,892 |  | 353,513 |  | 419,392
Cost and expenses |  | (151) |  | (482,434) |  | (83,440) |  | (566,025) |  | (51) |  | (377,377) |  | (58,604) |  | (436,032)
Financial income (expenses) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest (note 26) |  |  |  | 37,984 |  | 13,378 |  | 51,362 |  |  |  | 42,949 |  | 9,418 |  | 52,367
Exchange rate variations and monetary, net |  |  |  |  |  |  |  |  |  |  |  |  |  | (17,953) |  | (17,953)
Financial investments | (1) |  |  |  |  | 57,830 |  | 57,830 |  |  |  |  |  | 66,876 |  | 66,876
|  | 49,047 |  | (439,620) |  | 453,901 |  | 63,328 |  | 61,936 |  | (330,536) |  | 353,250 |  | 84,650

| · | Parent Company

|  | Parent Company
|  | 03/31/2024 |  | 12/31/2023
|  | Subsidiaries and associates |  | Joint-ventures and Joint Operation |  | Other related parties and exclusive funds |  | Total |  | Subsidiaries and associates |  | Joint-ventures and Joint Operation |  | Other related parties and exclusive funds |  | Total
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investments | (1) |  |  |  |  | 1,636,740 |  | 1,636,740 |  |  |  |  |  | 1,575,262 |  | 1,575,262
Trade receivables (note 5) | (2) | 1,066,907 |  | 744 |  | 56,753 |  | 1,124,404 |  | 955,246 |  |  |  | 130,837 |  | 1,086,083
Loans (note 8) | (4) |  |  | 5,287 |  |  |  | 5,287 |  |  |  | 5,316 |  |  |  | 5,316
Dividends | (3) | 507,504 |  | 71,823 |  |  |  | 579,327 |  | 507,502 |  | 55,436 |  |  |  | 562,938
Other assets (note 8) |  | 359,408 |  | 2 |  | 1,829 |  | 361,239 |  | 215,320 |  | 2 |  | 1,829 |  | 217,151
|  | 1,933,819 |  | 77,856 |  | 1,695,322 |  | 3,706,997 |  | 1,678,068 |  | 60,754 |  | 1,707,928 |  | 3,446,750
Non-current Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investments |  |  |  |  |  | 114,912 |  | 114,912 |  |  |  |  |  | 111,350 |  | 111,350
Loans (note 8) | (4) | 593,185 |  | 1,615,960 |  |  |  | 2,209,145 |  | 539,523 |  | 1,557,013 |  |  |  | 2,096,536
Actuarial asset (note 8) |  |  |  |  |  | 31,706 |  | 31,706 |  |  |  |  |  | 31,007 |  | 31,007
Other assets (note 8) | (5) | 8 |  | 1,792,579 |  |  |  | 1,792,587 |  | 8 |  | 1,792,574 |  |  |  | 1,792,582
|  | 593,193 |  | 3,408,539 |  | 146,618 |  | 4,148,350 |  | 539,531 |  | 3,349,587 |  | 142,357 |  | 4,031,475
|  | 2,527,012 |  | 3,486,395 |  | 1,841,940 |  | 7,855,347 |  | 2,217,599 |  | 3,410,341 |  | 1,850,285 |  | 7,478,225
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Intercompany Loans (note 12) | (6) | 1,374,908 |  |  |  |  |  | 1,374,908 |  | 1,521,537 |  |  |  |  |  | 1,521,537
Trade payables |  | 499,808 |  | 33,048 |  | 22,549 |  | 555,405 |  | 388,995 |  | 49,778 |  | 34,462 |  | 473,235
Accounts payable |  | 3,050 |  |  |  |  |  | 3,050 |  | 11,538 |  |  |  |  |  | 11,538
Provision for consumption |  | 338,772 |  | 7,567 |  |  |  | 346,339 |  | 317,721 |  | 7,227 |  |  |  | 324,948
|  | 2,216,538 |  | 40,615 |  | 22,549 |  | 2,279,702 |  | 2,239,791 |  | 57,005 |  | 34,462 |  | 2,331,258
Non-current Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Intercompany Loans (note 12) | (6) | 10,243,627 |  |  |  |  |  | 10,243,627 |  | 7,501,145 |  |  |  |  |  | 7,501,145
Accounts payable |  | 4,341 |  |  |  |  |  | 4,341 |  | 4,176 |  |  |  |  |  | 4,176
|  | 10,247,968 |  |  |  |  |  | 10,247,968 |  | 7,505,321 |  |  |  |  |  | 7,505,321
|  | 12,464,506 |  | 40,615 |  | 22,549 |  | 12,527,670 |  | 9,745,112 |  | 57,005 |  | 34,462 |  | 9,836,579

|  | Parent Company
|  | 03/31/2024 |  | 03/31/2023
|  | Subsidiaries and associates |  | Joint-ventures and Joint Operation |  | Other related parties and exclusive funds |  | Total |  | Subsidiaries and associates |  | Joint-ventures and Joint Operation |  | Other related parties and exclusive funds |  | Total
Net revenue and cost |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales |  | 842,788 |  | 744 |  | 462,293 |  | 1,305,825 |  | 1,195,030 |  |  |  | 353,476 |  | 1,548,506
Cost and expenses |  | (388,778) |  | (142,362) |  | (70,446) |  | (601,586) |  | (695,228) |  | (103,448) |  | (71,637) |  | (870,313)
Financial income (expenses) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest (note 26) |  | (29,024) |  | 37,055 |  | 2,814 |  | 10,845 |  | (45,725) |  | 42,212 |  | 9,327 |  | 5,814
Exclusive funds (note 26) |  |  |  |  |  | 1,997 |  | 1,997 |  |  |  |  |  | 5,307 |  | 5,307
Financial investments (note 26) |  |  |  |  |  | 57,830 |  | 57,830 |  |  |  |  |  | 66,876 |  | 66,876
Financial investments (note 25) |  | (284,782) |  |  |  |  |  | (284,782) |  | 227,439 |  |  |  | (3,158) |  | 224,281
|  | 140,204 |  | (104,563) |  | 454,488 |  | 490,129 |  | 681,516 |  | (61,236) |  | 360,191 |  | 980,471

Consolidated and Parent Company 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 Parent Company to related parties.

Quarterly Financial Information – March 31, 2024 – Companhia Siderúrgica Nacional (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) |

| (3) | Dividends receivable: In the Parent Company on September 30, 2023, it mainly refers to interest on equity from CSN Mineração S.A in the amount of R$ 295.058 and dividends from the subsidiary CSN Cimentos Brasil S.A in the amount of R$178,348.and in the Consolidated dividends from MRS Logística S.A in the amount of R$106.747.

| (4) | Loans (Assets):

Long-term: In the Consolidated Index refers mainly to loan agreements with Transnordestina Logística R$1,707,510 (R$1,646,264 as of December 31, 2023) with an average rate of 125.0% to 130.0% of the CDI.

| (5) | Other (Assets): In the Consolidated Advance for future capital increase with Transnordestina Logística S.A.de R$1,792,579 as of March 31, 2024 (R$1,792,579 as of December 31, 2023)

| (6) | Borrowings (Liabilities):

Foreign currency: At the Parent Company, these are intercompany contracts in the amount of R$ 11,618,535 as of March 31 of 2024 (R$ 9,022,682 on December 31, 2023).

| 20.b) | 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 March 31, 2024, and 2023.

|  | 03/31/2024 |  | 03/31/2023
|  | P&L
Benefits to Administrators, Directors and Executive Board |  | 7,265 |  | 7,395
Post-employment benefits |  | 133 |  | 102
|  | 7,398 |  | 7,497

| 20.c) | Guarantees

The Company is liable for guarantees of its subsidiaries and jointly controlled entities as follows:

| Currency |  | Salaries |  | Loans |  | Tax enforcement |  | Other |  | Total
|  |  |  |  | 03/31/2024 |  | 12/31/2023 |  | 03/31/2024 |  | 12/31/2023 |  | 03/31/2024 |  | 12/31/2023 |  | 03/31/2024 |  | 12/31/2023
Transnordestina Logísitca | R$ |  | Until 09/19/2056 and Undetermined |  | 3,709,250 |  | 3,695,183 |  | 10,290 |  | 10,029 |  | 4,443 |  | 4,235 |  | 3,723,983 |  | 3,709,447
Group Subsidiaries | R$ |  | Undetermined and until 12/21/2024 |  | 1,903,235 |  | 1,903,235 |  |  |  |  |  | 131,920 |  | 131,920 |  | 2,035,155 |  | 2,035,155
Total in R$ |  |  |  |  | 5,612,485 |  | 5,598,418 |  | 10,290 |  | 10,029 |  | 136,363 |  | 136,155 |  | 5,759,138 |  | 5,744,602
CSN Inova Ventures | US$ |  | 01/28/2028 |  | 1,300,000 |  | 1,300,000 |  |  |  |  |  |  |  |  |  | 1,300,000 |  | 1,300,000
CSN Resources | US$ |  | Until 04/08/2032 |  | 2,232,988 |  | 1,530,000 |  |  |  |  |  |  |  |  |  | 2,232,988 |  | 1,530,000
CSN Cimentos | US$ |  | Indeterminate |  |  |  | 115,000 |  |  |  |  |  |  |  |  |  |  |  | 115,000
Total in US$ |  |  |  |  | 3,532,988 |  | 2,945,000 |  |  |  |  |  |  |  |  |  | 3,532,988 |  | 2,945,000
Lusosider Aços Planos | EUR |  | Indeterminate |  |  |  |  |  |  |  |  |  | 75,000 |  | 75,000 |  | 75,000 |  | 75,000
Total in EUR |  |  |  |  |  |  |  |  |  |  |  |  | 75,000 |  | 75,000 |  | 75,000 |  | 75,000
Total in R$ |  |  |  |  | 17,651,515 |  | 14,257,629 |  |  |  |  |  | 404,843 |  | 401,370 |  | 18,056,357 |  | 14,658,999
|  |  |  |  | 23,264,000 |  | 19,856,047 |  | 10,290 |  | 10,029 |  | 541,206 |  | 537,525 |  | 23,815,495 |  | 20,403,601

| 21. | SHAREHOLDERS’ EQUITY

| 21.a) | Paid-up capital

The fully subscribed and paid-up capital as of March 31, 2024, is R$10,240,000, divided into 1,326,093,947 common and book-entry shares (as of December 31, 2023, R$10,240,000 divided into 1, 326,093,947 common and book-entry shares), with no par value. Each common share entitles to one vote in the resolutions of the General Meeting.

| 21.b) | Authorized capital

The Company’s bylaws in effect on March 31, 2023, define that the share capital may be increased to up to 2,400,000,000 shares, by decision of the Board of Directors, regardless of amendments to the bylaws.

Quarterly Financial Information – March 31, 2024 – Companhia Siderúrgica Nacional (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) |

| 21.c) | Legal reserve

It is constituted at the rate of 5% of the net income calculated in each fiscal year, before any other allocation, pursuant to art. 193 of Law 6,404/86, up to a limit of 20% of the capital stock.

| 21.d) | Ownership structure

As of March 31, 2024, and December 31, 2023, the Company’s ownership structure was as follows:

|  |  |  |  |  | 03/31/2024 |  |  |  |  |  | 12/31/2023
|  | Number of common shares |  | % of total shares |  | % of voting capital |  | Number of common shares |  | % of total shares |  | % of voting capital
Vicunha Aços S.A. (*) |  | 543,617,803 |  | 40.99% |  | 40.99% |  | 543,617,803 |  | 40.99% |  | 40.99%
Rio Iaco Participações S.A. (*) |  | 45,706,242 |  | 3.45% |  | 3.45% |  | 45,706,242 |  | 3.45% |  | 3.45%
CFL Ana Participações S.A. (*) |  | 135,904,451 |  | 10.25% |  | 10.25% |  | 135,904,451 |  | 10.25% |  | 10.25%
NYSE (ADRs) |  | 271,398,416 |  | 20.47% |  | 20.47% |  | 273,702,845 |  | 20.64% |  | 20.64%
Other shareholders |  | 329,467,035 |  | 24.84% |  | 24.84% |  | 327,162,606 |  | 24.67% |  | 24.67%
Outstanding shares |  | 1,326,093,947 |  | 100.00% |  | 100.00% |  | 1,326,093,947 |  | 100.00% |  | 100.00%

As of March 31, 2023, an Asset Restructuring Agreement was entered into between Rio Purus Participações S.A. and CFL Participações S.A. ("CFL"), the shareholders that directly and indirectly hold all the shares of Vicunha Aços S.A. ("Vicunha Aços"). Thus, the implementation of this Transaction results in CFL Ana Participações S.A. ("CFL Ana"), a subsidiary of CFL, holding 135,904,451 common shares, book-entry and without par value issued by CSN, representing on this date 10.25% of its capital stock.

(*) Companies in the controlling group.

| 21.e) | Treasury shares

On March 31, 2024 , the Company did not have an open treasury share buyback program, below is the movement of the programs that were closed:

Program |  | Board’s Authorization |  | Authorized quantity |  | Program period |  | Average buyback price |  | Minimum and maximum buyback price |  | Number bought back |  | Share cancelation |  | Sale of shares |  | Balance in treasury
|  | 04/20/2018 |  | 30,391,000 |  | From 4/20/2018 to 4/30/2018 |  | Not applicable |  | Not applicable |  |  |  |  |  | 22,981,500 |  | 7,409,500
1º |  | 06/21/2021 |  | 24,154,500 |  | From 06/22/2021 to 12/22/2021 |  | R$ 21.82 |  | R$20.06 and R$23.22 |  | 24,082,000 |  |  |  |  |  | 31,491,500
2º |  | 12/06/2021 |  | 30,000,000 |  | From 12/07/2021 to 6/30/2022 |  | R$ 25.00 |  | R$17.20 and R$26.76 |  | 29,938,600 |  |  |  |  |  | 61,430,100
|  | 05/18/2022 |  |  |  |  |  | Not applicable |  | Not applicable |  |  |  | 61,430,100 |  |  |  |
3º |  | 05/18/2022 |  | 58,000,000 |  | From 05/19/2022 to 05/18/2023 |  |  |  |  |  |  |  |  |  |  |  |

21.f) Earnings per share

The earnings per share are shown below:

| Three months ended
| 03/31/2024 |  | 03/31/2023
| Common Shares
(Loss)/profit for the year | (589,701) |  | (926,396)
Weighted average number of shares | 1,326,093,947 |  | 1,326,093,947
Basic and diluted (loss)/earnings per share in R$ | (0.44469) |  | (0.69859)

| 22. | COMPENSATION TO SHAREHOLDERS

On May 03, 2023, was approved at the Annual General Meeting, based on the position of the shareholders on April 28, 2023, the distribution of additional dividends proposed in the amount of R$ 1,614,000, corresponding to the amount of R$1.21710833810 per share.

Quarterly Financial Information – March 31, 2024 – Companhia Siderúrgica Nacional (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) |

| 23. | NET REVENUE FROM SALES

Net sales revenue is comprised as follows:

|  |  |  |  |  |  |  | Parent Company
|  | 03/31/2024 |  | 03/31/2023 |  | 03/31/2024 |  | 03/31/2023
Gross revenue |  |  |  |  |  |  |  |
Domestic market |  | 6,489,488 |  | 6,709,992 |  | 4,734,137 |  | 4,883,831
Foreign market |  | 4,800,143 |  | 6,172,300 |  | 510,475 |  | 595,957
|  | 11,289,631 |  | 12,882,292 |  | 5,244,612 |  | 5,479,788
Deductions |  |  |  |  |  |  |  |
Sales returns, discounts and rebates |  | (230,945) |  | (120,546) |  | (166,918) |  | (101,987)
Taxes on sales |  | (1,345,694) |  | (1,443,056) |  | (869,910) |  | (907,734)
|  | (1,576,639) |  | (1,563,602) |  | (1,036,828) |  | (1,009,721)
Net revenue |  | 9,712,992 |  | 11,318,690 |  | 4,207,784 |  | 4,470,067

| 24. | EXPENSES BY NATURE

|  |  |  |  |  |  |  | Parent Company
|  | 03/31/2024 |  | 03/31/2023 |  | 03/31/2024 |  | 03/31/2023
Raw materials and inputs |  | (3,395,876) |  | (3,082,974) |  | (2,531,160) |  | (2,536,554)
Outsourcing material |  | (765,963) |  | (1,227,283) |  |  |  |
Labor cost |  | (1,148,790) |  | (945,391) |  | (443,082) |  | (367,886)
Supplies |  | (607,551) |  | (932,240) |  | (534,617) |  | (652,143)
Maintenance cost (services and materials) |  | (192,806) |  | (100,047) |  | (61,993) |  | (51,522)
Outsourcing services |  | (461,467) |  | (771,987) |  | (269,234) |  | (272,560)
Freight |  | (1,230,664) |  | (993,444) |  | (208,357) |  | (194,576)
Depreciation, amortization and depletion |  | (875,064) |  | (781,276) |  | (316,232) |  | (272,459)
Others |  | (249,204) |  | (259,228) |  | (26,537) |  | (8,657)
|  | (8,927,385) |  | (9,093,870) |  | (4,391,212) |  | (4,356,357)
Classified as: |  |  |  |  |  |  |  |
Cost of sales |  | (7,521,968) |  | (8,073,476) |  | (4,100,294) |  | (4,090,964)
Selling expenses |  | (1,198,564) |  | (860,513) |  | (202,888) |  | (211,489)
General and administrative expenses |  | (206,853) |  | (159,881) |  | (88,030) |  | (53,904)
|  | (8,927,385) |  | (9,093,870) |  | (4,391,212) |  | (4,356,357)

The depreciation, amortization and depletion for the period were distributed as follows.

|  |  | Consolidated |  |  |  | Parent Company
| 03/31/2024 |  | 03/31/2023 |  | 03/31/2024 |  | 03/31/2023
Production costs (1) | (858,072) |  | (770,910) |  | (308,799) |  | (267,515)
Selling expenses | (11,867) |  | (3,836) |  | (2,770) |  | (2,153)
General and administrative expenses | (5,125) |  | (6,530) |  | (4,663) |  | (2,791)
| (875,064) |  | (781,276) |  | (316,232) |  | (272,459)
Other operational (2) | (20,838) |  | (19,902) |  | (2,252) |  | (1,771)
| (895,902) |  | (801,178) |  | (318,484) |  | (274,230)

(1) The cost of production includes PIS and COFINS credits on lease agreements as of Marchr 31, 2024, in the amount of R$858 in the consolidated (R$1,824as of March 31, 2024) and R$226 in the parent company (R$163) as of March 31, 2023).

(2) They mainly refer to the depreciation of investment properties, paralyzed equipment and amortization of the SWT customer portfolio, classified in other operating expenses, see note 25.

Quarterly Financial Information – March 31, 2024 – Companhia Siderúrgica Nacional (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) |

| 25. | OTHER OPERATING INCOME AND EXPENSES

|  |  |  | Consolidated |  |  |  | Parent Company
|  | 03/31/2024 |  | 03/31/2023 |  | 03/31/2024 |  | 03/31/2023
Other operating income |  |  |  |  |  |  |  |
Receivables by indemnity |  | 38,825 |  | 3,955 |  | 38,458 |  | 3,751
Rentals and leases |  | 7,008 |  | 3,527 |  | 5,022 |  | 1,302
Contractual fines |  | 9,817 |  | 950 |  | 9,775 |  | 658
Updated shares – Fair value through profit or loss (Note 13) |  |  |  | 42,210 |  |  |  | 42,210
Net gain in shares sale (note 13) (3) |  | 18,253 |  |  |  | 13,271 |  |
Other revenues |  | 22,564 |  | 44,087 |  | 13,734 |  | 26
|  | 96,467 |  | 94,729 |  | 80,260 |  | 47,947
Other operating expenses |  |  |  |  |  |  |  |
Taxes and fees |  | (37,113) |  | (31,399) |  | (15,349) |  | (18,524)
Expenses/reversal with environmental liabilities, net |  | (13,403) |  | (3,119) |  | 980 |  | (1,528)
Write-off/(Provision) of judicial lawsuits |  | (37,820) |  | (81,214) |  | (14,892) |  | (43,383)
Depreciation and amortization (note 24) |  | (20,838) |  | (19,902) |  | (2,252) |  | (1,771)
Write-off of PPE and intangible assets (notes 10 and 11) |  | (9,870) |  | 2,176 |  | (2,216) |  | 1,902
Estimated (Loss)/reversal in inventories (1) |  | (46,612) |  | (404,373) |  | (24,232) |  | (156,013)
Idleness in stocks and paralyzed equipment (2) |  | (52,752) |  | (144,193) |  | (47,251) |  | (144,193)
Studies and project engineering expenses |  | (9,400) |  | (8,940) |  | (2,382) |  | (3,680)
Healthcare plan expenses |  | (25,821) |  | (26,705) |  | (25,345) |  | (26,382)
Cash flow hedge accounting realized (nota 13) (3) |  |  |  | (930,523) |  |  |  | (353,203)
Actual pension plan |  | (11,437) |  |  |  | (10,687) |  |
Other expenses |  | (127,394) |  | (112,345) |  | (85,000) |  | (43,710)
|  | (392,460) |  | (1,760,537) |  | (228,627) |  | (790,485)
Other operating income (expenses), net |  | (295,992) |  | (1,665,808) |  | (148,366) |  | (742,538)

| (1) | Refers substantially to losses incurred in the production process at the Presidente Vargas Plant ("UPV") and losses in inventories.

| (2) | Operational idleness due to interventions in the sintering process that impacted crude steel production.

| (3) | In the Parent Company, it is the realization of a Cash Flow Hedge in the amount of R$13,271 and in the Consolidated Sector, the realization of a Hedging of Cash flow of R$12,222 and Platts Hedge of R$6,031.

Quarterly Financial Information – March 31, 2024 – Companhia Siderúrgica Nacional (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) |

| 26. | FINANCIAL INCOME (EXPENSES)

|  |  |  | Consolidated |  |  |  | Parent Company
|  | 03/31/2024 |  | 03/31/2023 |  | 03/31/2024 |  | 03/31/2023
Financial income |  |  |  |  |  |  |  |
Related parties (Note 20 a) |  | 52,833 |  | 54,429 |  | 57,966 |  | 72,415
Income from financial investments |  | 211,058 |  | 194,545 |  | 33,989 |  | 30,557
Updated shares – Fair value through profit or loss (Note 13.d) |  | 57,830 |  | 66,876 |  | 57,830 |  | 66,876
Interest and fines |  | 13,594 |  | 23,888 |  | 8,449 |  |
Other income |  | 99,044 |  | 5,081 |  | 95,267 |  | 20,476
|  | 434,359 |  | 344,819 |  | 253,501 |  | 190,324
Financial expenses |  |  |  |  |  |  |  |
Borrowings and financing - foreign currency (note 12) |  | (480,099) |  | (302,226) |  | (69,460) |  | (36,556)
Borrowings and financing - local currency (note 12) |  | (482,077) |  | (502,789) |  | (308,661) |  | (283,461)
Capitalised interest (note 10) |  | 37,680 |  | 44,198 |  | 15,104 |  | 17,505
Related parties (Note 20 a) |  | (1,471) |  | (2,062) |  | (45,124) |  | (61,294)
Lease liabilities |  | (10,457) |  | (17,271) |  | (2,483) |  | (256)
Interest and fines |  | (115,364) |  | (100,896) |  | (114,184) |  | (85,203)
Interest on drawn/forfaiting risk operations |  | (22,352) |  | (138,363) |  | (100) |  | (138,363)
(-) Adjustment present value of trade payables |  | (91,783) |  | (80,996) |  | (60,930) |  | (62,370)
Commission, bank fees, Guarantee and bank fees |  | (47,465) |  | (45,032) |  | (25,041) |  | (21,284)
PIS/COFINS over financial income |  | (37,188) |  | (18,290) |  | (16,081) |  | (3,574)
Other financial expenses |  | (168,051) |  | (123,421) |  | (5,839) |  | (29,874)
|  | (1,418,627) |  | (1,287,148) |  | (632,799) |  | (704,730)
Others financial items, net |  |  |  |  |  |  |  |
Foreign exchange and monetary variation, net |  | (25,666) |  | (269,162) |  | 1,341 |  | (46,760)
Gains and (losses) on exchange derivatives (*) |  | (114,593) |  | 21,864 |  | (15,780) |  | (40,172)
|  | (140,259) |  | (247,298) |  | (14,439) |  | (86,932)
|  | (1,558,886) |  | (1,534,446) |  | (647,238) |  | (791,662)
Financial income (expenses), net |  | (1,124,527) |  | (1,189,627) |  | (393,737) |  | (601,338)
(*) Statement of gains and (losses) on derivative transactions (note 13.c) |  |  |  |  |  |  |  |
Dollar - to - real NDF |  |  |  |  |  |  |  |
Exchange rate swap Real x Dollar |  | 12,624 |  |  |  |  |  |
Exchange rate swap Dollar x Euro |  | 9,282 |  | (40,172) |  |  |  |
Interest rate swap CDI x IPCA |  | (2,314) |  | 43,143 |  | (13,466) |  |
Exchange rate swap CDI x Dollar |  | (134,185) |  | 18,893 |  | (2,314) |  | (40,172)
|  | (114,593) |  | 21,864 |  | (15,780) |  | (40,172)

| 27. | SEGMENT INFORMATION

Results by segment

For the purpose of preparing and presenting the information by business segment, Management decided to maintain the proportional consolidation of the jointly controlled entities as historically presented. For purposes of reconciliation of the consolidated result, the amounts recorded by these companies are not included in the “Corporate expenses/elimination” column.

Quarterly Financial Information – March 31, 2024 – Companhia Siderúrgica Nacional (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) |

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 03/31/2024
P&L |  | Steel |  | Mining |  | Logistics |  |  |  | Energy |  | Cement |  | Corporate expenses/elimination |  | Consolidated
|  |  | Port |  | Railroads |  |  |  |
Net revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Domestic market |  | 3,739,942 |  | 427,891 |  | 84,170 |  | 671,889 |  | 103,953 |  | 1,079,229 |  | (1,139,841) |  | 4,967,234
Foreign market |  | 1,644,307 |  | 2,395,500 |  |  |  |  |  |  |  |  |  | 705,951 |  | 4,745,758
Cost of sales and services (note 24) |  | (5,175,397) |  | (1,916,131) |  | (66,695) |  | (367,598) |  | (83,859) |  | (800,029) |  | 909,903 |  | (7,499,808)
Gross profit |  | 208,852 |  | 907,260 |  | 17,474 |  | 304,291 |  | 20,094 |  | 279,200 |  | 476,013 |  | 2,213,184
General and administrative expenses (note 24) |  | (323,005) |  | (82,424) |  | (2,905) |  | (59,196) |  | (14,615) |  | (177,793) |  | (745,479) |  | (1,405,417)
Other operating (income) expenses, net (note 25) |  | (160,432) |  | (58,803) |  | 1,106 |  | 37,757 |  | 5,973 |  | (50,939) |  | (70,653) |  | (295,991)
Equity in results of affiliated companies (note 9) |  |  |  |  |  |  |  |  |  |  |  |  |  | 78,695 |  | 78,695
Operating result before Financial Income and Taxes |  | (274,584) |  | 766,033 |  | 15,675 |  | 282,852 |  | 11,452 |  | 50,468 |  | (261,424) |  | 590,471
Sales by geographic area |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Asia |  |  |  | 2,134,631 |  |  |  |  |  |  |  |  |  | 705,951 |  | 2,840,583
North America |  | 424,006 |  |  |  |  |  |  |  |  |  |  |  |  |  | 424,006
Latin America |  | 7,300 |  |  |  |  |  |  |  |  |  |  |  |  |  | 7,300
Europe |  | 1,213,001 |  | 171,057 |  |  |  |  |  |  |  |  |  |  |  | 1,384,058
Others |  |  |  | 89,812 |  |  |  |  |  |  |  |  |  |  |  | 89,812
Foreign market |  | 1,644,307 |  | 2,395,500 |  |  |  |  |  |  |  |  |  | 705,951 |  | 4,745,758
Domestic market |  | 3,739,942 |  | 427,891 |  | 84,170 |  | 671,889 |  | 103,953 |  | 1,079,229 |  | (1,139,841) |  | 4,967,234
Total |  | 5,384,249 |  | 2,823,391 |  | 84,170 |  | 671,889 |  | 103,953 |  | 1,079,229 |  | (433,890) |  | 9,712,992
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 03/31/2023
P&L |  | Steel |  | Mining |  | Logistics |  |  |  | Energy |  | Cement |  | Corporate expenses/elimination |  | Consolidated
|  |  | Port |  | Railroads |  |  |  |
Net revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Domestic market |  | 3,945,649 |  | 282,277 |  | 69,903 |  | 519,007 |  | 139,437 |  | 1,119,131 |  | (846,688) |  | 5,228,716
Foreign market |  | 1,831,211 |  | 3,859,163 |  |  |  |  |  |  |  |  |  | 399,600 |  | 6,089,974
Cost of sales and services (note 23) |  | (5,021,041) |  | (2,246,834) |  | (59,478) |  | (339,692) |  | (123,518) |  | (959,623) |  | 676,710 |  | (8,073,476)
Gross profit |  | 755,819 |  | 1,894,606 |  | 10,425 |  | 179,315 |  | 15,919 |  | 159,508 |  | 229,622 |  | 3,245,214
General and administrative expenses (note 23) |  | (313,076) |  | (126,359) |  | (2,015) |  | (42,819) |  | (12,629) |  | (96,274) |  | (427,222) |  | (1,020,394)
Other operating (income) expenses, net (note 25) |  | (627,475) |  | (636,454) |  | 3,498 |  | 10,568 |  | 4,019 |  | (38,263) |  | (381,701) |  | (1,665,808)
Equity in results of affiliated companies (note 9) |  |  |  |  |  |  |  |  |  |  |  |  |  | 21,509 |  | 21,509
Operating result before Financial Income and Taxes |  | (184,732) |  | 1,131,793 |  | 11,908 |  | 147,064 |  | 7,309 |  | 24,971 |  | (557,792) |  | 580,521
Sales by geographic area |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Asia |  |  |  | 3,769,149 |  |  |  |  |  |  |  |  |  | 399,600 |  | 4,168,749
North America |  | 402,491 |  |  |  |  |  |  |  |  |  |  |  |  |  | 402,491
Latin America |  | 46,759 |  |  |  |  |  |  |  |  |  |  |  |  |  | 46,759
Europe |  | 1,381,961 |  | 90,014 |  |  |  |  |  |  |  |  |  |  |  | 1,471,975
Foreign market |  | 1,831,211 |  | 3,859,163 |  |  |  |  |  |  |  |  |  | 399,600 |  | 6,089,974
Domestic market |  | 3,945,649 |  | 282,277 |  | 69,903 |  | 519,007 |  | 139,437 |  | 1,119,131 |  | (846,688) |  | 5,228,716
Total |  | 5,776,860 |  | 4,141,440 |  | 69,903 |  | 519,007 |  | 139,437 |  | 1,119,131 |  | (447,088) |  | 11,318,690

| 28. | ADDITIONAL INFORMATION TO CASH FLOWS

The following table provides additional information about transactions related to the statement of cash flows:

|  |  | Consolidated |  |  |  | Parent Company
| 03/31/2024 |  | 03/31/2023 |  | 03/31/2024 |  | 03/31/2023
Income tax and social contribution paid | 243,224 |  | 349,970 |  | 1,865 |  |
Addition to PP&E with interest capitalization (notes 10 and 26) | 37,680 |  | 44,198 |  | 15,104 |  | 17,505
Remeasurement and addition – Right of use (note 10 i) | 100,900 |  | 51,841 |  | 82 |  | 3,907
Addition to PP&E without adding cash | 15,967 |  | 9,993 |  |  |  |
Capitalization in associate with no cash effect | 118,000 |  |  |  | 118,000 |  |
| 515,771 |  | 456,002 |  | 135,051 |  | 21,412

Quarterly Financial Information – March 31, 2024 – Companhia Siderúrgica Nacional (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) |

| 29. | STATEMENT OF COMPREHENSIVE INCOME

Quarterly Financial Information – March 31, 2024 – Companhia Siderúrgica Nacional (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) |

| 30. | SUBSEQUENT EVENTS

15th Issuance of Debentures

COMPANHIA SIDERÚRGICA NACIONAL ("Company") hereby announces that the Board of Directors has approved its 15th issuance of simple, non-convertible debentures, of the unsecured type, in up to two series, in the total amount of R$ 800,000,000.00 (eight hundred million reais). The Issuance will be subject to a public offering, under the automatic registration of the Resolution of the Brazilian Securities and Exchange Commission ("CVM") No. 160 and will meet the requirements of article 2 of Law No. 12,431, with the transaction is expected to be settled on May 8, 2024.

The First Series Debentures will have a maturity of ten (10) years and the Second Series Debentures will have a term of 15 (fifteen) years. The net proceeds raised by the Company through the Debentures will be used exclusively for future payment and/or reimbursement of expenses, expenses and/or debts related to the implementation of the Infrastructure investment project in the logistics and transportation sector presented by Transnordestina Logística S.A.

Signing of an exclusivity agreement for the acquisition of shares of InterCement Participações S.A.

COMPANHIA SIDERÚRGICA NACIONAL ("Company") signed on May 1, 2024 an agreement providing for exclusivity in the possible in the possible acquisition of shares representing 100% of the share capital of InterCement Participações S.A., and consequently of its subsidiaries, until of its subsidiaries, until July 12, 2024; after an official offer has been made, which is currently being evaluated by the respective sellers, within the scope of the agreement. evaluation by the respective sellers, in the context of a competitive process that is still underway, and its provisions confidential provisions describe a series of conditions precedent for defining the terms and conditions of any transaction and its potential implementation, which are customary in operations of a similar nature, including, expressly, prior approval of the Administrative Council for Economic Defense - CADE, should binding documents be signed.

To date, no binding documents have been signed with any counterparty that generate an obligation or commitment to carry out the potential transaction.

Payment of interim dividends based on shareholder position as of May 14, 2024

COMPANHIA SIDERÚRGICA NACIONAL ("Company"), through its Board of Directors, approved, at a meeting held on May 9, 2024, the distribution to shareholders of interim dividends to the profit reserve account, in the amount of R$950,000,000.00

Quarterly Financial Information – March 31, 2024 – Companhia Siderúrgica Nacional (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) |

(nine hundred and fifty million reais), corresponding to R$0.716389666 per share of the Company's share capital in circulation on this date. The dividends will be paid until May 29, 2024, and will be calculated and credited based on the Shareholders' positions on May 14, 2024.

Quarterly Financial Information – March 31, 2024 – Companhia Siderúrgica Nacional (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) |

Independent auditor's report on review the individual and consolidated interim financial information.

To the Shareholders, Directors and Managers of

Companhia Siderúrgica Nacional

Sao Paulo-SP

Introduction

We have reviewed the individual and consolidated interim financial information of Companhia Siderúrgica Nacional ("Company"), contained in the Quarterly Information Form - ITR for the quarter ended March 31, 2024, which comprise the balance sheet as of March 31, 2024 and the related statements of income, comprehensive income, for three eriod then ended and changes in shareholder’s equity and cash flows for the tree-month period then ended, including a summary of significant accounting policies and notes.

The Company's management is responsible for preparing and presenting the individual and consolidated interim financial information, in accordance with technical pronouncement NBC TG 21 - Interim Financial Statements and with the international accounting standard IAS 34 - Interim Financial Reporting, issued by the International Accounting Standards Board (IASB), as well as the presentation of this information in accordance with the standards issued by the Brazilian Securities Commission, applicable to the preparation of the Quarterly Information - ITR. Our responsibility is to express a conclusion on this interim financial information based on our review.

Scope of review

We conducted our review in accordance with Brazilian and international standards for reviewing interim financial information (NBC TR 2410 - Review of Interim Financial Information Performed by the Entity Auditor and ISRE 2410 - Review of Interim Financial Information Performed by the Independent Auditor of the Entity, respectively). A review of interim information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. The scope of a review is significantly less than that of an audit conducted in accordance with auditing standards and, as a result, did not enable us to obtain assurance that we have taken knowledge of all significant matters that could be identified in an audit. Therefore, we do not express an audit opinion.

Conclusion on the individual and consolidated interim financial information

Based on our review, we are not aware of any fact which leads us to believe that the individual and consolidated interim financial information included in the aforementioned quarterly information was not prepared, in all material respects, in accordance with NBC TG 21 and IAS 34, applicable to the preparation of the Quarterly Information - ITR, and presented in accordance with the rules issued by the Brazilian Securities and Exchange Commission.

Quarterly Financial Information – March 31, 2024 – Companhia Siderúrgica Nacional (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) |

Other matters

Statement of Value Added

The aforementioned quarterly information includes the individual and consolidated Statements of Value Added (DVA), referring to the tree month period ended March 31, 2024, prepared under the responsibility of the Company's management and presented as supplementary information for IAS purposes 34. These statements were submitted to review procedures performed in conjunction with the review of the Company's quarterly information - ITR -, in order to conclude whether they are reconciled with the interim financial information and accounting records, as applicable, and if their form and content are in accordance with the criteria defined in NBC TG 09 - "Demonstration of Added Value". Based on our review, we are not aware of any facts that lead us to believe that these statements of value added were not prepared, in all material respects, in accordance with the criteria defined in this standard and in a manner consistent with the interim financial information, individual and consolidated, taken together.

Barueri, May 29, 2024.

Mazars Auditores Independentes - Sociedade Simples Ltda.

CRC 2 SP023701/O-8

Danhiel Augusto Reis

CRC 1SP254522/O-0

Quarterly Financial Information – March 31, 2024 – Companhia Siderúrgica Nacional (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) |

Opinions and Statements / Officers Statement on the Financial Statement

As Executive Officers of Companhia Siderúrgica Nacional, we declare pursuant to Article 27, paragraph 1º, item VI, and Article 31, paragraph 1º, item II of CVM Instruction 80, of March 29, 2022, that we reviewed, discussed and agreed with the Company’s Financial Statements for the quarter ended March 31,2024.

São Paulo, May 09, 2024.

Benjamin Steinbruch

CEO

Antonio Marco Campos Rabello

Executive Officer – CFO and Investors Relations

David Moise Salama

Executive Officer

Luis Fernando Barbosa Martinez

Executive Officer

Stephan Heinz Josef Victor Weber

Executive Officer

Alexandre de Campos Lyra

Executive Officer

Quarterly Financial Information – March 31, 2024 – Companhia Siderúrgica Nacional (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) |

Opinions and Statements / Officers Statement on Auditor’s Report

As Executive Officers of Companhia Siderúrgica Nacional, we declare pursuant to Article 27, paragraph 1º, item V and Article 31, paragraph 1º, item II of CVM Instruction 80, of March 29,2022, that we reviewed, discussed and agreed with the opinion expressed on the Independent Auditors’ Report related to the Company’s Financial Statements for the quarter ended March 31,2024.

São Paulo, May 09, 2024.

Benjamin Steinbruch

CEO

Antonio Marco Campos Rabello

Executive Officer – CFO and Investors Relations

David Moise Salama

Executive Officer

Luis Fernando Barbosa Martinez

Executive Officer

Stephan Heinz Josef Victor Weber

Executive Officer

Alexandre de Campos Lyra

Executive Officer

SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: May 29, 2024

COMPANHIA SIDERÚRGICA NACIONAL
By: | /S/ Benjamin Steinbruch
| Benjamin Steinbruch Chief Executive Officer

By: | /S/ Antonio Marco Campos Rabello
| Antonio Marco Campos Rabello Chief Financial and Investor Relations Officer

FORWARD-LOOKING STATEMENTS

This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management's current view and estimates of future economic circumstances, industry conditions, company performance and financial results. The words "anticipates", "believes", "estimates", "expects", "plans" and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.