The Board of Directors for Niscayah has established a treasury policy specifying the Group’s common rules, organization and mandate regarding general financial activities. The policy also states the overall strategy and management of financial risk exposure and cash management.

Niscayah is primarily exposed principally to the following financial risks:

• Liquidity risk
• Interest rate risk
• Financing risk
• Foreign exchange rate risk
• Credit risk

The overall goal of the Group’s financial activities is to support the business operations by means of securing funding and committed credit lines and effective cash management both locally and centrally as well as managing the financial risks exposure. All external funding and management of the group’s financial risk exposure is centralized to group treasury in Stockholm.