The risks and opportunities situation of Energie AG is influenced by the economic and energy market environment and by energy policy and regulatory changes. Additionally, the climatic conditions and climate policy have a significant impact on business development.

Energie AG meets these challenges with strategic and operational measures, strict value-based investment management, efficiency improvements as well as new business models and innovations to tap additional earnings potential.

The COVID-19 pandemic continues to be the focus of Energie AG's risk management. The health of the workforce, customers and business partners takes highest priority. The targeted measures already taken at an early stage are being continuously adapted to the current situation to allow the Group, as a critical infrastructure company, to ensure the reliable supply of energy, natural gas, heat, telecommunications services and water as well as the management of waste and waste water.

In the course of Group-wide analyses of the potential impact of the COVID-19 pandemic on Energie AG, it was possible to assign all identified risks and opportunities to the existing risk categories. From today's perspective, it is not possible to reliably appraise the extent and duration of the mid- to long-term economic ramifications of the crisis.

Energie AG's business activities are still exposed to certain risks, but no risks were identified in the first half of 2020/2021 that, either individually or collectively, would have the potential to jeopardize the continued existence of the Company.

For more details on the risks and opportunities situation, see the Notes to the Semi-Annual Consolidated Financial Statements, Section 8. Risk management.