Santierul Naval Orsova S.A.

Annual / Quarterly Financial Statement • Feb 26, 2021

ŞANTIERUL NAVAL ORŞOVA S.A. Nr. RC J25/150/1991 CIF: RO 1614734 Capital social: - subscris 28.557.297,5 lei - varsat 28.557.297,5 lei Str. Tufări, nr. 4, Orşova, 225200, Mehedinţi Tel.: 0252/362.399; 0252/361.885; Fax: 0252/360.648 E-mail: mircea.sperdea@snorsova.ro; marketing@snorsova.ro Codul LEI (Legal Entity Identifier): 254900UXAJ8TPIKLXG79 Cod IBAN: RO96RNCB0181022634120001- B.C.R. Orşova Cod IBAN: RO59BRDE260SV03176142600- B.R.D. Orşova

Status of the Financial Position on 31.12.2020

Reference Rand 31.12.2020 01.01.2020 Assets (lei) (lei) Fixed assets IAS 1.54(a) Tangible assets 01 37.417.314 38.932.086 Lands and land arrangements 02 1.201.941 1.201.941 Constructions 03 16.999.328 18.516.839 Technical equipments and transport means 04 16.373.915 16.277.471 Furniture, office automation [...] 05 53.638 73.640 Pending tangible assets 06 2.788.492 2.862.195 IAS 1.54(b) Investment property 07 508.019 517.515 IAS 1.54(c) Intangible assets 08 6.192 3.083 Other intangible assets 09 6.192 883 Advance payments for intangible assets 10 0 2.200 IAS 1.54(h) Trade receivables and other receivables 11 417.495 9.826 IAS 1.54(b) Investment property 12 508.019 517.515 IAS 1.54(o), 56 Receivables concerning the delayed taxation 13 79.048 100.998 IAS 1.60 Total of Fixed Assets 14 38.428.068 39.563.508 Current assets IAS 1.54 (g) Stocks 15 34.611.321 44.839.962 IAS 1.54(h) Trade receivables and other receivables 16 1.185.231 2.091.262 IAS 1.55 Expenses recorded in advance 17 130.348 67.119 IAS 1.54(d) Short term investments 18 3.857.609 6.677.460 IAS 1.54(i) Cash and cash equivalents 19 30.825.273 13.939.382 IFRS 5.38-40 Assets classified as held for sale 20 18.637 318.158

IAS 1.60	Total of Current Assets	21	70.628.419	67.933.343
	Total of Assets	22	109.056.487	107.496.851
	Equity capital
IAS 1.54(r), 78(e)	Share capital	23	28.557.298	28.557.298
IAS 1.55, 78(e)	Capital premiums	24	8.862.843	8.862.843
IAS 1.54(r), 78(e)	Spares	25	51.777.818	52.191.937
	Result of the financial year	26	4.653.501	3.205.050
IAS 1.55, 78(e)	Reported result	27	7.743.844	7.431.918
	Profit allotment	28	(191.823)	(198.765)
	Other elements of Equity Capital	29	(4.028.932)	(4.290.219)
	Total Equity Capitals	30	97.374.549	95.760.062
	Debts
	Long-term debts
IAS 1.54(o), 56	Debts concerning the delayed taxation	31	4.037.136	4.299.942
IAS 1.60	Total of Long-term debts	32	4.037.136	4.299.942
	Current debts
IAS 1.54(k)	Commercial debts and other debts, including derived financial instruments	33	6.619.329	6.804.366
	Advance registered incomes	34	215	1.246
IAS 1.54(l)	Provisions	35	1.025.258	631.235
IAS 1.60	Total Current Debts	36	7.644.802	7.436.847
	Total of debts	37	11.681.938	11.736.789
	Total Equity Capitals and Debts	38	109.056.487	107.496.851

Reference

		Rand	31.12.2020	31.12.2019
			lei	lei
	Permanent Activities
IAS 1. 82(a)	Incomes	01	69.934.196	61.648.713
IAS 1.99,103	Other incomes	02	3.048.754	5.045.825
	Total Operational Incomes	03	72.982.950	66.694.538
	Expenses concerning the stocks	04	(24.591.973)	(21.840.253)
	Expenses concerning the utilities	05	(1.478.986)	(1.187.571)
	Expenses with the benefits of the employees	06	(29.137.247)	(23.854.019)
	Expenses with the depreciation and impairment of the immobilisations	07	(3.894.411)	(4.202.464)
	Profit / loss from the immobilisations' disposals	08	(173.704)	(96.569)
	Value adjustment of the current assets	09	4.076.694	(161.657)
	Adjustment of commissions	10	(394.023)	(94.361)
IAS 1.99, 103	Other expenses	11	(12.792.427)	(11.916.387)
	Total Operational Expenses	12	(69.386.077)	(63.353.281)
	Result of the Operational Activities	13	4.596.873	3.341.257
	Financial Incomes	14	677.223	1.003.597
IAS 1.82(b)	Financial expenses	15	(228.680)	(369.542)
	Net Fiscal Result/ Net Fiscal Result	16	448.543	634.055
IAS 1.85	Result before Taxation	17	5.045.416	3.975.312
	Expenses with the tax on the current profit	18	(357.813)	(786.729)
	Expenses with the tax on the delayed profit	19	(365.108)	(381.486)
	Specific tax expense	20	(13.671)	(13.671)
	Incomes corresponding to the tax on the delayed profit	21	344.677	411.624
IAS 1.85	Result from Permanent Activities	22	4.653.501	3.205.050
IAS 1.82(f)	Result of the Period	23	4.653.501	3.205.050
	Other parts of the Global Result
IAS 1.82(g)	Re-assessment of the tangible assets	24	(870.726)	(1.221.331)
IAS 1.85	Other elements of the Global Result, after Taxation	25	(870.726)	(1.221.331)
IAS 1.82 (i)	Total of the Global Result corresponding to the Period	26	3.782.775	1.983.719
	Profit assigned
IAS 1.83(b)(ii)	To the company's Shareholders	27	4.653.501	3.205.050
	Profit of the period	28	4.653.501	3.205.050

Total assigned global result

IAS 1.83(b)(ii)	To the company's shareholders	29	3.782.775	1.983.719
	Result per action/ Result per action
IAS 33.66	Result per main action	30	0,41	0,28
IAS 33.66	Result per action attenuated	31	0,41	0,28
	Permanent activities
IAS 33.66	Result per main action	32	0,41	0,28
IAS 33.66	Result per action attenuated	33	0,41	0,28

Administrator, Dr. Ing. Crin-Valer Andanut Director Economic, Ec. Marilena Visescu