Catom Annual Report 2022 EN

The chances of a credit risk occurring are very likely. The impact on the results and/ or the financial position is moderate. Liquidity and financing risks Catom’s financing policy is aimed at main taining its sound financial position. Thanks to a sound balance sheet structure and more than ample credit facility, Catom has plenty of capacity to absorb liquidity risks and sufficient access to credit on an ongoing basis. The chances of cash flow or financing risks occurring is unlikely. The impact on the results and/or financial position is very substantial. Currency risks Catom’s functional currency is the euro. In the wholesale department, a different functional currency, the US dollar, is used for part of the purchasing of motor fuels. Currency risks arising from these dollar purchases are not hedged because the exposure is limited in terms of absolute amounts and only occurs for short periods (days), and because the currency

fluctuations have only a limited impact on our competitive position in the market. The chances of a currency risk occurring are very likely. The impact on the results and/ or the financial position is moderate. Fuel price risks, interest rate risks, derivatives There have been major fluctuations in fuel prices in recent years. Catom follows the market and our business model has proven robust in absorbing these fluctuations. Catom makes very limited use of financial instruments – forward exchange contracts – to hedge against losses on its stocks, which in turn make up a very limited part of its total turnover. The chances of a fuel price risk occurring are very likely. The impact on the results and/or the financial position is substantial. The interest rate risk incurred by Catom relates to the risk that future outgoing interest cash flows will increase due to changes in the market interest rate of interest-bearing loans with a variable

39