Key risk factors

The Company’s operations are influenced by a range of factors that the Company is unable to have a chokehold on. Several factors named below are macro economical and affect all companies. Some lines of activities can be especially susceptible to certain risk factors. Risks in energy transmission, to a certain extent, are derivatives of risks related to wholesale and retail energy markets. These evolving markets, in their turn, have a higher risk level than developed markets of other services and products and include significant legal, economic and political risks. A proportion of political risks in overall risk volume is inconspicuous. An aggressive growth of wholesale and retail energy markets enable most likely to assume that the information may rapidly get outdated. Existing uncertainty in information as a result of factor dynamism may impact future operations, possible sale of the Company’s assets and observation of due dates. Besides, some risks, insignificant for the moment, may become drastic in future.