Augustea’s corporate governance system is an essential instrument to ensure an efficient and successful management and a reliable control tool of the activities carried out by the Group, aiming at the creation of value for shareholders.

The system is inspired by the key principles of integrity, transparency and fairness.

Further, the rules are set up in compliance with the applicable general and specific laws and regulations, as well as with the By-laws, the Code of Ethics, and the recommendations outlined in the Corporate Governance Code of Listed Companies issued by Borsa Italiana (the Italian Stock Exchange) , besides internal regulations and best practice throughout the industry.

Augustea adopts a traditional administration and control system whereby corporate management is the responsibility of the Board of Directors, and control functions are allocated to the Board of Statutory Auditors.

The Shareholders' Meeting is the forum whereby the owners of the company exercise their responsibility for the most significant decisions affecting the business of the company. These include appointing corporate bodies, approving the financial statements and modifying the by-laws.

The Board of Directors is entrusted with the management of the Company and carries out all the activities appropriate for the achievement of the corporate purpose. In accordance with the Italian Civil Code, the Board has delegated part of its managerial powers to the Chief Executive Officer(s)and appointed two internal Committees with an advisory and consultative remit.