Main Principles of the Risk Management Process

Strategic, operative, financial and damage risks are monitored through monthly by the Business Segments and Enabling Functions. According to the risk management process, the Business Segments and Enabling Functions must produce assessments of risks in their designated areas of responsibilities and provide action plans to manage risks as well as to report on measures taken including the stage and effectiveness of such measures. These assessments and action plans are consolidated at the group level. Risks are monitored regularly through reporting to the Company’s Board of Directors. The Company’s CLO is responsible for the risk management process and coordinates its appropriateness and compliance.