Catom Annual Report 2023 EN

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 fluctua tions 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 interest rate. The risk policy with respect to interest rate risk aims at limiting the effects of interest rate fluctuations on the result. These interest charges only include the Euribor component of the finance costs and as from this financial year Catom uses interest rate derivatives. The chances of interest risks occurring are likely. The impact on the results and/or the financial position is substantial. Other risks, compliance with laws and regulations, safety As a player in the downstream oil market, Catom is aware of the crucial importance of always being in compliance with legislation and regulations and ensuring safe opera tions. A key foundation for managing the risks in this area is the company culture. Accordingly, the Executive Board and management focus on an ongoing basis on

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