Common framework and commitment to risk management

It is the policy of Ten Holdings to apply a common framework to identify, analyse, manage and monitor risk. Ten Holdings is committed to reinforcing effective business risk management as a core managerial capability and focus of the group using formal and informal mechanisms.

Linkage to our Corporate Goals and Business Processes

The Ten Holdings risk management approach is focused on:

• identifying, managing and monitoring uncertainties and vulnerabilities that might impact on the achievement of our corporate goals and reputation.
• consideration and management of risk as part of key business processes including planning and budgeting, decision making (e.g. investment appraisal), monitoring and reporting, project management and internal controls.

Balancing risk and reward

Ten Holdings faces a range of risks in relation to its business activities and pursuit of opportunities which cannot be eliminated. Ten Holdings' policy is to consider the balance of risk and reward, as far as practicable, to optimise the returns gained from its business activities and meet the expectations of its shareholders.

Responsibilities

The Board is responsible for overseeing the establishment and implementation by management of risk management systems and reviewing the effectiveness of these systems.

Audit Committee - the Board has delegated to the Audit Committee responsibility for reviewing submissions from management regarding the management of business risks, including the formulation and review of this policy and other risk management policies. As appropriate the Audit Committee will table particular matters to the Board for its review and/or approval.

Management – is responsible for management of and reporting to the Board on risk in accordance with this policy through a formal organisation-wide risk management framework and other formal and informal risk specific frameworks and approaches.

Risk Management System and Processes

This policy is supported by specific formal and informal analytical techniques to identify and evaluate risk, and mitigation strategies to improve/optimise Ten holding's risk profile.

Risks and the effectiveness of their management are reviewed and reported regularly to executive management, the Audit Committee and Board through various mechanisms, depending on the nature of the risks.

Measurement and Review of Policy

Management and the Audit Committee will review the policy annually to review its effectiveness and to ensure its continued application and relevance.