Risks and uncertainties

Due to the nature of its business, the Group’s activities remain subject to the usual market risks (sensitivity to the environmental parameters of the oil and financial markets), industrial and environmental risks related to its operations, and to political or geopolitical risks stemming from the global presence of most of its activities.

Risks relative to cash management operations and to interest rate and foreign exchange financial instruments are managed according to rules set by the Group’s General Management, which provide for regular pooling of available cash balances, open positions and management of the financial instruments.

Detailed information is given in the Risk Factors section (chapter 4) of this Registration Document. For more information, also refer to the Chairman’s report in point 1.10. of chapter 5.