Risk Management Policy

The Board of Directors has overall responsibility for establishing and overseeing the risk management framework. The Board of Directors has determined that the financial function is responsible for developing and monitoring the Company's risk management policies. While the internal audit function has responsibility for monitoring compliance with risk management policies and procedures, and to examine the adequacy of the risk management framework associated with the risks faced by the Company to provide its report to the Board of Directors.

The overall objective of risk management is to identify and analyze the risks faced by the Company, setting limits on the risks and appropriate controls, and to monitor risks and adherence to limits that have been set, but did not significantly affect the Company's competitiveness and flexibility.