2021 Universal Registration Document

RISKS MANAGEMENT

Description and mitigation of main risk factors

Risk related to the execution of BIC’s transformation program "BIC 2022 – Invent the Future“. In 2019, BIC launched its BIC 2022 – Invent the Future transformation plan. While the overall benefit to BIC is expected to be transformative, positive, and inclusive, potential risks related to this plan may include staff turnover, inability to acquire and retain required talent with necessary skill sets, and/or loss of institutional knowledge.

Level of risk impact: low Potential impact on BIC:

Examples of Risk Mitigation:

risk of losing institutional knowledge and current key competencies from • potential staff departures, restructuring, and culture change within BIC; risk of turnover within the management teams due to change in the • operating model; riks of retaining talent due to other organizations potentially offering a • more competitive employee value proposition.

talent acquisition and retention plans have been established and • implemented with the relevant skillsets and experience ahead of the transformation; a centrally led talent management team was created to tackle talent • management risks.

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• BIC GROUP - 2021 UNIVERSAL REGISTRATION DOCUMENT •