NATIONAL STEEL CO (SID) SEC Filings

Companhia Siderúrgica Nacional (SID) reports the composition of its board of directors and board of executive officers, providing updated terms of office and detailed biographies for each member. The disclosure confirms key leadership roles, including the transition of Benjamin Steinbruch to Chairman and the appointment of Fabio Schvartsman as Chief Executive Officer.

The board of directors includes a mix of long-tenured and independent members with experience in finance, industry and public policy, while the executive team covers finance, legal, commercial, infrastructure, logistics and steel production functions. The company also outlines independence criteria for certain directors and reiterates standard forward-looking statement cautions.

Companhia Siderúrgica Nacional (SID) reports that on August 13, 2026 it received a non-compliance notice from the New York Stock Exchange because the average closing price of its American Depositary Shares was below $1.00 per ADS over a consecutive 30‑trading‑day period, triggering Section 802.01C continued listing standards. Under NYSE rules the company has six months from receipt of the notice to regain compliance, and the notice does not immediately delist the ADSs. CSN has informed the NYSE of its intention to cure and is evaluating available alternatives; since receiving the notice, the ADS price has traded above the $1.00 minimum threshold.

NATIONAL STEEL CO (SID) reports a leadership reorganization at the top of the company. The Board of Directors elected Benjamin Steinbruch as Chairman of the Board of Directors of Companhia Siderúrgica Nacional. Effective September 3, 2026, Fabio Schvartsman will assume the role of Chief Executive Officer. The company states it will keep shareholders and the market informed of further developments related to these governance changes.

NATIONAL STEEL CO (SID) reported relatively stable scale but weaker profitability in its June 30, 2026 interim IFRS financials. Consolidated net revenue for the first six months was R$21.9 billion, slightly above R$21.6 billion a year earlier, while cost pressures and higher operating charges kept margins under strain.

The group posted a consolidated net loss of R$1.33 billion versus a R$0.86 billion loss in the prior-year period; loss attributable to controlling shareholders was R$1.41 billion, with basic loss per share of R$1.06301. Operating cash flow remained negative at R$(671) million, though better than the R$(1.40) billion outflow a year earlier. Net cash used in investing was R$2.49 billion, mainly for property, plant, equipment and intangibles, partially offset by R$2.30 billion of net cash provided by financing activities.

At June 30, 2026, consolidated total assets were R$100.6 billion and total shareholders’ equity R$15.24 billion (controlling interest R$12.17 billion). Consolidated borrowings and financing totaled R$53.37 billion (R$8.33 billion current, R$45.04 billion non-current). Management states the group has adequate resources to continue as a going concern and confirms compliance with debt covenants.

Companhia Siderúrgica Nacional reported 2Q26 results highlighted by a return to positive free cash flow of R$ 808.1 million, driven by solid operations, working capital release and recent funding transactions. Management links this to initiatives to improve the capital structure, cut inventories and curb prior cash burn.

Consolidated net debt was R$ 42,138.2 million, with Net Debt/LTM EBITDA at 3.49x, while cash and cash equivalents totaled R$ 15.4 billion, covering short‑term obligations. Investments reached R$ 1,414.0 million, and Net Working Capital allocated to the business fell 21.8% quarter over quarter to R$ 3,046.4 million, mainly from lower inventories.

Steel sales rose to 1,182 thousand tons, up 16.7% year over year, supported by Brazilian antidumping measures and stronger domestic and export volumes. The Energy segment posted net revenue of R$ 395.5 million and Adjusted EBITDA of R$ 246.0 million (62.1% margin) after a favorable ANEEL decision, while Logistics revenue reached R$ 1,213.9 million with Adjusted EBITDA of R$ 548.2 million (45.2% margin). Despite operating gains, CSN’s shares fell 27.0% in the quarter, with ADRs down 26.2%.

Companhia Siderúrgica Nacional, through its subsidiary CSN Inova Ventures, reports the final results of an exchange offer for its 6.750% Notes due 2028. Holders tendered US$1,007,324,000 in principal, equal to 77.49% of the US$1,300,000,000 outstanding, surpassing the minimum participation condition of US$910,000,000 (70%).

The tendered notes will be exchanged for new 11.00% Notes due 2030 plus cash. On settlement, expected August 12, 2026, CSN Inova expects to issue approximately US$698.3 million in New Notes and pay about US$255.7 million in cash, with no cash proceeds received by CSN Inova from this transaction. The New Notes are fully and unconditionally guaranteed by CSN.

Companhia Siderúrgica Nacional, through subsidiary CSN Inova Ventures, reports final results of a private exchange of its 6.750% Senior Notes due 2028 for new 11.000% Senior Notes due 2030 and cash. Holders tendered US$1,007,324,000 of 2028 Notes, representing 77.49% of the US$1,300,000,000 outstanding.

Eligible Holders will receive per US$1,000 of 2028 Notes US$253.85 in cash plus US$746.15 in principal of new 2030 Notes, plus accrued interest. CSN Inova expects to issue about US$698.3 million of new notes and pay around US$255.7 million in cash consideration on August 12, 2026. The issuer will not receive cash proceeds, and it has obtained sufficient consents to execute a supplemental indenture with amendments to the 2028 Notes.

Companhia Siderúrgica Nacional (CSN) reports progress in its process for the potential full divestment of its cement subsidiary, CSN Cimentos S.A. In line with the previously announced timetable, CSN has received binding proposals from potential purchasers authorized to participate in this stage of a competitive sale process.

The company is currently evaluating these proposals and states it will inform shareholders and the market of any further material developments in accordance with Brazilian corporate law and securities regulations. Management also notes that any expectations about future events are subject to risks and uncertainties, as highlighted in its forward-looking statements disclaimer.

Companhia Siderúrgica Nacional, through its wholly owned Cayman subsidiary CSN Inova Ventures, launched a private Exchange Offer and Consent Solicitation for any and all outstanding 6.750% Senior Notes due 2028, which have an outstanding principal amount of US$1,300,000,000. Eligible institutional holders are offered 11.000% Senior Notes due 2030 plus cash, with exchange consideration of US$746.15 in New Notes and US$253.85 in cash per US$1,000 of 2028 Notes tendered.

The New Notes pay 11.000% interest, subject to a 50 basis point step-down to 10.500% if their aggregate principal is reduced by at least US$200 million by February 12, 2028, and may be redeemed at par plus accrued interest at any time. The transaction requires a Minimum Participation Condition of US$910.0 million in 2028 Notes (70% of the outstanding series) tendered and not withdrawn, and is scheduled to expire at 5:00 p.m. New York City time on August 10, 2026, with settlement expected on August 12, 2026. Participation is limited to qualified institutional buyers in the United States and certain non-U.S. persons, and the New Notes are unregistered and subject to transfer restrictions.