Corporate Risk Management Policy 

SOCAR Türkiye recognises that the effective management of risks is an essential component of successful corporate governance and is vital to the Company's continued growth and success. It is committed to managing risk across the organisation to ensure that its corporate governance responsibilities are fulfilled and its strategic objectives are achieved. It aims to make risk management part of the Group Companies' culture, in which a shared understanding of risk enables well-informed decisions, and it defines the responsibilities of the Board of Directors, Management and all employees involved in risk management accordingly.

In this context, SOCAR Türkiye, covering all of its organisational levels and all Group Companies, is committed to:

• Improving business performance by identifying growth opportunities,
• Staying innovative and providing a competitive advantage,
• Anticipating uncertainties and establishing the necessary communication,
• Reducing operational losses and unexpected impacts,
• Ensuring reputation and brand management to protect the value of the Company,
• Providing a consistent and systematic approach to identify, analyse, assess, take measures, monitor and report the risk portfolio,
• Providing actionable assessment results to contribute to the achievement of strategic objectives,
• Ensuring that Management is provided with the best available information on which to base its decisions,
• Ensuring that the decisions taken are in line with the Company's risk appetite, are taken within approved risk tolerances and are executed with adequate independent oversight,
• Providing reasonable assurance that internal controls are in place and functioning effectively and efficiently through internal control and internal audit activities,
• Providing the necessary resources and support mechanisms to ensure the fulfilment of its Risk Management commitment,
• Ensuring that the management and employees of each Group Company implement the requirements of this policy in consultation with the Corporate Risk Management Department, and that the co-operation of all employees is maintained accordingly.