In 2021, the Company created a separate Risk Management Division in 2021, devoting particular attention to the prevention, avoidance and management of situations that may arise due to various risks inherent in its business. Subsequently, the “Corporate Risk Management Policy” was established, which was further specified in the “Corporate Risk Management Procedure”. The mission of the Risk Management Activities Division is to develop procedures for proper anticipation and management of risks through their identification, definition and classification, as well as the establishment of indicators, measures and controls for their reduction , and the monitoring of the implementation and progress of these measures with a view to ensuring the efficiency and effectiveness of the Company’s activities and operations.

The operation of the Risk Management Activities Division is governed by an institutionalized procedure, which defines the precise framework for the implementation, identification, analysis, evaluation and management of potential risks and opportunities that may positively or negatively affect the achievement of corporate objectives, within the framework of the seamless operation of the company, as well as the communication of these objectives to the organization and the continuous monitoring at every stage of its development. Subsequent to the detection and identification of the potential risks to which the company is exposed, the analysis of the causes of each individual risk and the effects it may cause ensues. In addition, both the probability of the event and the magnitude of its impact are quantified and classified, in detail, into five main categories: economic, human, legal, regulatory and reputational impacts. Subsequently, Mitigation Controls implemented by the company are identified and new Mitigation Actions are identified to further mitigate risks or highlight opportunities, with the results documented through appropriate mechanisms and reporting, as well as any revisions that may be required.