Short-term risk outlook

Given that the Group’s strategy calls for the development of new products, formation of new trading markets and the expansion of the investor base, the management of financial risks will be key for the Company.

HR risks will remain neutral, given that most ongoing activities are long-term; however, staff turnover remains low.

Given that the Exchange’s strategic objectives include the financial platform and balance management, regulatory and legal risks will continue to have a high impact on the Exchange’s activities; however, taking into account ongoing activities, we do not expect a significant increase in regulatory and legal risk.

Stabilization and Reliability 2.0 and Stabilization 3.0 programs being implemented will result in the reduction of operational and compliance risks; however, the full effect will be visible only in the long term.

Plans to upgrade the Exchange’s key information systems will keep information security risks elevated.

Strategic risks will remain neutral given that no factors preventing the achievement of strategic objectives, as well as no substantial delays and/or negative variances in implementation of the budget for strategic projects and initiatives, are present considering the Group’s new strategy through 2024.