Italian Listed Companies should implement changes by the end of the 2016 fiscal year.

On July 10, 2015, the Corporate Governance Committee (the Committee) approved certain amendments to the Corporate Governance Code of Italian Listed Companies (the Code). These amendments incorporate recommendations provided in the second annual report on the application of the Code, published on December 11, 2014 (the 2014 Report), and introduce certain corporate social responsibility and whistleblowing principles.