Annual Report 2025

Annual Report 2025

Management Confirmations

With due regard to best practice provision 1.4.3 of the DCGC, we confirm that:

  1. the report of the board of directors provides sufficient insights into any deficiency in the effectiveness of the internal risk management and control systems, as is further substantiated in Section 2 “Risk Factors” and Section 3 “Corporate Governance”. The Audit and Compliance Committee executes the oversight with respect to management’s implementation and substantiation of DCGC.

  2. the internal risk and control systems described herein, particularly in paragraph 3.9.5 “Financial Risks and Controls” provide reasonable assurance that the financial reporting does not contain any material inaccuracies;

  3. the internal risk and control systems provide limited assurance that sustainability reporting is free from material misstatements;

  4. in light of and as set out in this report, while the company seeks to control operational and compliance risks in the manner and to the extent as described in this report, the Board is not aware that our internal risk management and control systems, would not provide sufficient comfort1) that the material operational and compliance risks faced by the company are effectively controlled in line with the risk appetite as of December 31, 2025;

  5. we confirm that we expect that our existing cash and cash equivalents and current financial assets will enable us to fund our operating expenses and capital expenditure requirements through at least the next 12 months. On the basis of the current state of affairs, it is justified that the financial reporting is prepared on a going concern basis; and

  6. the report of the board of directors, particularly Section 2 “Risk Factors” includes the material risks, as referred to in best practice provision 1.2.1 of the DCGC as well as uncertainties, to the extent that they are relevant for our continuity for a period of 12 months after the preparation of this Annual Report. The aforementioned statement does not in any way limit the relevance or applicability of the Risk Factors set out in this Annual Report to the aforementioned period of 12 months.

1) Sufficient comfort is to be read as: comfort considering our risk appetite, the complexity of our enterprise, inherent limitations to these systems and other disclosures on these systems in our board report.