Internal Control & Risk Management System

The internal control and risk management system – ICRMS - consists of the rules, procedures, and organizational structures aimed at effectively and efficiently identifying, measuring, managing, and monitoring the main risks to support the sustainable success of the company. De Nora has implemented the ICRMS with the primary objective of identifying, assessing, and managing risks that could impact the Company’s ability to achieve its objectives and enhance performance, while safeguarding long-term value and reputation.

There are multiple players involved in an organization’s ICRMS, but the ultimate responsibility lies with the Board of Directors. Other players involved in the organization of the ICRMS include:

• the Chief Executive Officer, responsible for the establishment and maintenance of the internal control and risk management system;
  
  

• the Control, Risk and ESG Committee, responsible for supporting the evaluations and decisions of the Board of Directors with respect to the ICRMS and the approval of periodic financial and non-financial reports;
  
  

• the Internal Audit Director, responsible for verifying that the internal control and risk management system is operational, adequate and consistent with the guidelines defined by the Board of Directors;
  
  

• the other company functions involved in controls (such as the risk management, legal and compliance, finance, regulatory, etc.), which monitor and oversee company risks, ensuringthat risks are properly identified and managed, and that company policies and regulations are followed;
  
  

• the Control Body, which supervises the effectiveness of the internal control and risk management system.