Enterprise Risk Management

The Company has adopted and implements the OTE Group Enterprise Risk Management (ERM) System.

In the context of its operation as an Electronic Money Institution, the Company has established a Risk Management Unit with the aim of effectively implementing the Risk Management framework as defined by the Board of Directors of the Company, in collaboration with the competent organizational units, which have the primary responsibility for risk management in the exercise of their responsibilities.

The main mission of the Risk Management Unit includes the design, specialization and implementation of the Risk Management Policy as well as supporting the Board of Directors in making corporate decisions. The Unit is responsible for monitoring both existing and emerging risks, for developing, maintaining and updating the Risk Register, for continuously monitoring it as well as for reporting to the Board of Directors.

The Risk Management Unit, in constant collaboration with the risk owners of each business function, manages the recorded risks, identifies any vulnerabilities and weaknesses and assesses the criticality of both the inherent and residual risks.

In the context of implementation of OTE Group ERM System, the following Policies/ Statements apply:

• OTE Group Enterprise Risk and Insurance Management Policy:This policy describes the current requirements for enterprise risk and insurance management of OTE Group and the associated responsibilities.
• OTE Group Risk Appetite Statement:This Statement describes the approach of OTE Group companies’ management towards risk, taking into consideration the most significant risks to which OTE Group is exposed, in the context of OTE Group ERM framework and defines as Risk Appetite, the level of risk which is considered by OTE Group as acceptable to achieve its strategic goals.