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Interenergo  Business report  Interenergo    Business report

 Country and political risks relate to the unstable   Risk matrix
 economic environment and the political system in   Statement of management’s
 an individual country. The Company is present in
 numerous European markets, hence a continuous   The risks were valued by the Company in terms of   responsibility
 monitoring of developments and swift response   probability and materiality and were accordingly
 to change is crucial for Company’s successful   classified into a matrix. The price and credit risks
 operations.  The risk of amended legislation is   are assessed the highest, whereas the interest rate
 managed by means of active participation and   risk as the lowest.  The  Management  Board  hereby  confirms  the   legislation and the International Financial Reporting
 open communication with institutions and experts   financial statements for the year ended 31 December   Standards, as adopted by the EU.
 directly involved in the process of amending laws,   2020, the notes thereto as well as the accounting
 regulations and directives.  policies applied.                Furthermore, the Management Board is responsible
                                                               for keeping proper accounting records and for taking
            The Management Board is responsible for the        reasonable measures to safeguard the assets of the
 Figure: Risk matrix  preparation of the annual report so that it gives a   Company and to prevent and detect fraud and other
            true and fair view of the financial position of the   irregularities.
            Company and the results of its operations for 2020.
                                                               Within five years after the end of the year in which
            The  Management  Board  hereby  confirms  that     the tax is to be assessed, tax authorities have the
            the relevant accounting policies were applied      right to perform a tax audit, which may consequently
            consistently and that the accounting estimates     lead to additional payments of taxes, late payment
            were prepared in compliance with the principles    interest and fines in relation to the corporate income
            of prudence and due diligence. The Management      tax and other taxes and duties. The Management
            Board also confirms that the financial statements   Board is not aware of any circumstances that might
 Price risk
 Currency risk  and the notes thereto were prepared on a going   result in significant liabilities in this respect.
 Probability  Credit risk
            concern basis and in accordance with the applicable

 Low market  Ljubljana, 19 May 2021                                     Director:            Director:
 liquidity risk
 Risk of suspending operations
                                                                        Blaž Šterk           Martin Dolzer
 Risk of amended  Legal risk
 Organisational risk  legislation  Liquidity risk
 Country risk  HR management risk
 Interest rate risk  Risk of misjudgement
 Political risk


 Probability  Materiality

 Gravity  Level of probability  Probability of realisation  Gravity  Level of importance  Impact of realisation
 5  Very frequent  At least once a week.  5  Critical  Exceeding EUR 500,000
 4  Frequent  At least once a month.  4  Very important  EUR 250,001 to EUR 500,000

 3  Occasional  At least twice a year.  3  Important  EUR 100,001 to EUR 250,000
 2  Rare  At least once a year.  2  Less important  EUR 50,001 to EUR 100,000
 1  Very rare  At least once every three years.  1  Insignificant  Less than EUR 50,000

 46  Integrated Annual Report 2020                                             Integrated Annual Report 2020  47
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