Risk Policy

[Policy reviewed and approved at board meeting 30.09.2024]

The main goal of Orkuveitan's risk policy is to contribute to the company performing its role in a safe and cost-effective manner within the limits of acceptable risk, the nature of the relevant activity and in accordance with agreed policies and objectives for robust risk management.

The focus of risk management is to:

• Reduce fluctuations in performance at all times by identifying, evaluating and managing risks.
• Promote adequate liquidity and access to capital to support the development of services and regular operations.
• Identify risks and opportunities to promote improved operations and informed decision-making.
• Promote risk awareness among staff.

Orkuveitan's risk manual and related documents describe the risk management framework, overall vision and risk appetite of the board. The board instructs the CEO to implement the risk policy and to provide regular information on the status of risk categories and on risks outside the defined criteria of the board. Changes to risk limits and/or risk appetite must be approved by the board.