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RISK MANAGEMENT PROCESS


The management of the Group’s business risks is the responsibility of the Board. The process for the identification and assessment of business risks, and the management thereof, in accordance with BATM’s corporate Risk and Opportunity Management (“ROM”) Framework, is as follows:

The Group Risk and Opportunity Manager (“GROM”) – in conjunction with the Board, General Counsel, business unit managers and external advisers – identify risks and opportunities (“R&O”) that are material to BATM, and which includes the consideration of climate-related risks. The process includes meetings with unit managers and the use of key relevant information sources. The maintenance of the resulting R&O list is undertaken by the GROM and approved by the Board. Mr. Ran Noy, the Group’s CFO and an Executive Director, was appointed as the GROM of BATM.

An assessment of each R&O is undertaken by the GROM, in conjunction with the parties listed above. This assessment is based on impact, probability and timeframe and determines those risks and opportunities that require the development of appropriate actions.

The GROM, with the appropriate unit managers, develops proposed actions that are then finalised in conjunction with the CEO. The GROM and unit managers ensure the completion of the actions in the agreed timeframe.

The Company’s internal auditor (as defined under Israeli law) monitors the completion of the agreed actions and the CEO and GROM report regularly to the Board, who monitor and approve the decisions and actions.

The process is repeated periodically, with dynamic adjustments to the process itself, if required, and based on any significant changes in any significant risk and/or opportunity.

VIABILITY STATEMENT

The Directors have assessed the Company and the Group’s viability over a period of three years. The Directors have determined that a three-year period is an appropriate timeframe for assessment because it is aligned to the Group’s strategic planning process and therefore reflects the Board’s best estimate of the future viability of the business.
In making their assessment, the Directors took account of the Company and the Group’s current financial and operational positions and contracted capital expenditure.

They also assessed the potential financial and operational impacts, in severe but plausible scenarios, of the principal risks and uncertainties set out above and the likely degree of effectiveness of current and available mitigating actions.

Based on this assessment, the Directors have a reasonable expectation that the Company and the Group will be able to continue in operation and meet all their liabilities as they fall due for the three years to 31 December 2026.

In making this statement, the Directors have also made key assumptions (see note 4 to the financial statements).