Risk Control Committee

During the Board meeting held on 15 May 2012, the new Risk Control Committee was appointed, its function being to advise and recommend. Its objective is to improve the effectiveness and strategic guidance capacity of the Board of Directors with regard to the Internal Audit system. In particular, the Committee helps the Board of Directors to verify the adequacy and correct functioning of the internal audit system, ensuring that the main business risks are identified and appropriately managed. Among its other activities, the Committee assesses, together with the administration managers of the Company and the independent auditing firm, the adequacy of the accounting standards and the procedures for the purpose of drafting the financial statements. It is made up of two independent directors while the third member does not have any powers granted by the Board of Directors and possesses specific administrative and financial expertise.

Franco Grimaldi     Chairman
Assunta Brizio
Luca Scano

Appointments and Remuneration Committee

During the Board Meeting held on 15 May 2012, the new Appointments and Remuneration Committee was appointed; the Company, in accordance with the Code of Conduct for Listed Companies, opted for a single Committee which performs its functions both with regard to appointments and remuneration. The Committee makes proposals to the Board of Directors for the remuneration of the Chief Executive Officer and the other Directors who cover specific offices. Furthermore, it makes proposals with regard to the appointments and remuneration of the Company's senior management and other corporate figures. The Committee aids the Board of Directors in the preparation and implementation of any remuneration plans based on shares or financial instruments and assesses the adequacy and application of the Remuneration Policy and the related annual report. It is made up of three members of which two independent directors and a third, in any event, non-executive member.

Franco Grimaldi     Chairman
Assunta Brizio
Gabriele Racugno