Climate Change Data

Environmental Metrics

Climate Goals & Targets

Environmental Challenges

• Factors outside our control that cause a reduction in airline passenger traffic, including terrorist attacks and natural disasters
• Changes in general economic and market conditions
• Competition among participants in the travel retail market
• Loss of and competition to obtain and renew concessions
• Changes by airport authorities or airlines that lower the number of passengers in the terminals in which we have concessions
• Ability to execute our growth strategy effectively to integrate successfully any new concessions or future acquisitions into our business and to remodel existing concessions
• Ability to successfully expand into the food and beverage concession industry
• Dependence on our controlling shareholder to provide us with key services and to finance our operations
• Dependence on our local partners
• Changes in the taxation of goods or duty-free regulations in the markets in which we operate
• Adverse impacts of compliance or legal matters
• Restrictions on the duty-free sale of tobacco products and on smoking in general that affect our tobacco product sales
• Changes in customer preferences or demands
• The future travel habits of our customers and potential changes in transportation safety requirements
• Reliance on a limited number of suppliers
• Disruption in our supply chain
• Information technology systems failure or disruption
• Ability to attract and retain qualified personnel
• Litigation
• Material weaknesses in our internal control over financial reporting, if we are unable to remediate such material weakness
• The concentration of our operations in New York and other metropolitan areas
• Ability to borrow from banks or raise funds in the capital markets
• Our controlling shareholder’s control over us

Mitigation Strategies

• Initiated remedial measures and are taking additional measures to fully remediate the procure to pay process material weakness
• Implemented accounts payable software designed to automate and streamline invoice processing
• Implemented a new invoice approval matrix
• Implemented new controls to strengthen the vendor set-up and maintenance process
• Implemented new controls over the review and approval of invoices for payment
• Plan to enhance application user access provisioning and termination controls and segregation of duties analyses
• Plan to enhance monitoring to strengthen application change, configuration, and back-up management controls
• Plan to provide enhanced training to information technology personnel

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: IFRS

Third-party Assurance: Ernst & Young AG