1. 1 Internal Audit & CSR Dept. Milan, 14 September 2007 Autogrill Group From Ethics as a part of compliance activity to embed Social Responsibility in management attitude Silvio de Girolamo Chief Audit & Social Responsibility Executive

2. 2 Internal Audit & CSR Dept. Milan, 14 September 2007 Autogrill snapshot Autogrill reflection on ethics Social Responsibility in Autogrill Ethics/Compliance vs. Sustainable Governance Link Governance and Value Autogrill Mission & Values Sustainable and competitive approach in Autogrill CONTENTS

3. 3 Internal Audit & CSR Dept. Milan, 14 September 2007 Autogrill is the world’s biggest provider of food & beverage and retail services for travellers. With sales of around € 4 billion in 2006, it’s present in 34 countries, with over 4,800 points of sale in over 1000 locations, where about 55,000 employees serve over 890 million customers every year. The Group operates mainly in airports, along motorways and railway stations. AUTOGRILL SNAPSHOT

4. 4 Internal Audit & CSR Dept. Milan, 14 September 2007 AUTOGRILL SNAPSHOT Total turnover: 3,929.4 €m Total employee: 54.953

5. 5 Internal Audit & CSR Dept. Milan, 14 September 2007 Why we have in mind only the company profit with a short term vision that represent just one dimension of the value? Why we don’t take in consideration the expectations of stakeholders? Why we don’t anticipate all the risks also for social and environment contest ? AUTOGRILL’S REFLECTION ON ETHICS The managers have to start to think about the long term value of the company, taking in consideration the triple bottom line: Economic, Social and Environmental Performances Understand and evaluate the expectations of Stakeholders as a critical factor to gaining competitive advantage and enhancing value for stakeholders. The company have started the Proactive Approach and not just reactive in order to anticipate the consequences of failure of system This it will be useful to instilling a Sustainable Risk Culture across the organization

6. 6 Internal Audit & CSR Dept. Milan, 14 September 2007 In Autogrill view, Social Responsibility means creating value giving due regard to profitability and at the same time ensuring that the Group's growth is sustained over the longer term by good governance and by safeguarding the interests of all the people involved in our business. Strike a balance between the financial, environmental and social dimensions of our business, considering also the new international set of rules drawn from community provisions regulating the enforcement of the law in favor of the stakeholders: “La legge sul Risparmio” (law 262/2005) Legislative Decree No.231, 8 June 2001 Considering the high performance this target needs, the corporate organization have to implement and control all the necessary activity that have to support the declaration of those mentioned principles SOCIAL RESPONSIBILITY IN AUTOGRILL

7. 7 Internal Audit & CSR Dept. Milan, 14 September 2007 Compliance focus on the enforcement of laws, rules, regulations and policy. This methodology has the authority to investigate, correct wrongdoing, facilitate discipline, and report to the board. ETHICS/COMPLIANCE VS. SUSTAINABLE GOVERNANCE Companies should put in place Sustainable Governance programs: which focus on social responsibility consists at least of legal, economic, consumer, environmental responsibility. In this way they secure long term economic performance and manage their sustainable risks with no reputational damage. BUT COMPLIANCE OF LAWS, RULES, REGULATIONS, AND POLICY IS NOT ENOUGH

8. 8 Internal Audit & CSR Dept. Milan, 14 September 2007 CONTROLS GOVERNANCE – NOT LINKED WITH PROFIT RISK GOVERNANCE – COMPANY PROFIT SUSTAINABLE RISK GOVERNANCE – SHARED VALUE LINK GOVERNANCE AND VALUE

9. 9 Internal Audit & CSR Dept. Milan, 14 September 2007 FROM ASIDE PROJECT TO SUSTAINABILITY PACKAGE

10. 10 Internal Audit & CSR Dept. Milan, 14 September 2007 AUTOGRILL MISSION & VALUES

11. 11 Internal Audit & CSR Dept. Milan, 14 September 2007 SUSTAINABLE AND COMPETITIVE APPROACH IN AUTOGRILL Code of Ethics Email address of the Supervisory Body in EU and Ethics Hotline in US Sustainability Workshop CSR Cards and Sustainability Package Sustainability Report

12. 12 Internal Audit & CSR Dept. Milan, 14 September 2007