Risk Management

We are subject to various risks relating to changing economic, political, legal, social, competitive, industry, business and financial conditions.

Our Corporate Risk Management Framework establishes corporate risk management policies pertaining to financial liquidity, Safety, Health and Environment ("SHE"), counterparty credit, foreign exchange derivatives, commodity derivatives, physical inventory and entity management. The objective of these policies is to ensure that key Company risks and their impacts are identified and evaluated timely and that strategies and policies are defined to mitigate such risks.

Risk Committees

We have established five risk committees within the company to cover several key aspects of our business and operations:

• the Safety, Health and Environment Risk Committee,
• the Finance Committees, including Foreign Exchange risk, Liquidity risk and Counterparty credit risk and
• the Commercial Risk Committee.