RISK MANAGEMENT

Risk management policies and processes

The purpose of the Group's risk management is to ensure that risks are identified, assessed, managed and controlled comprehensively and appropriately throughout the Group. Risk management supports the achievement of the Group's strategic and business objectives and ensures the continuity of its operations in changing circumstances. The ability to take risks and manage them efficiently is a key factor in business success and creating shareholder value.
The Board of Directors of Inderes ensures the effectiveness and efficiency of risk management by requiring regular reporting and establishing controls at all levels of the organization. In addition, the Board ensures that the Group's key businesses have up-to-date and adequate business continuity plans.

The Board of Directors assesses the Group's risks by conducting, at least annually, a risk mapping to identify and assess the Group's key operational risks and risk management activities. In addition, the adequacy and effectiveness of risk management measures are assessed as part of the regular business monitoring process at Management Team level.

Implementation

The Board of Directors has appointed the CEO of Inderes as the person primarily responsible for risk management. The CEO ensures that the Group complies with the risk management measures approved by the Board. The Compliance function conducts business-related audits and reports regularly to the Board of Directors on its audits and findings. Each business is responsible for managing and preventing its own risks. The Management Team is responsible for conducting regular risk assessments and reporting to the Board of Directors.