BREMBO N.V. ANNUAL

Market Risk

Liquidity Risk Liquidity risk can arise from the inability to obtain the financial resources necessary to guarantee Brembo’s operation. To mitigate liquidity risk, the Treasury & Credit area: constantly assesses financial requirements to ensure the appropriate measures are taken in a timely manner (obtaining additional credit lines, capital increases, etc.); obtains adequate credit lines; ensures the appropriate composition of net financial debt, i.e., investments are financed with medium-to- long-term debt (as well as with equity), and net working capital requirements are financed using short-term credit lines; includes the Group companies in cash pooling structures to optimize any excess liquidity of participating companies.