Treasury shares

The Annual General Meeting of 28 May 2015, after revoking the authorization granted on 28 May 2014 and pursuant to Arts. 2357 et seq. of the Italian Civil Code, authorized the purchase and subsequent disposal of ordinary shares up to a maximum of 12,720,000 shares.

At 31 December 2015 Autogrill S.p.A. owned 365,212 treasury shares (870,798 at the end of 2014), with a carrying amount of € 1,446k and an average carrying amount of € 3.96 per share. The reduction in the number of treasury shares over the year is due to the exercise of options by various beneficiaries under Autogrill’s 2010 Stock Option Plan.

Autogrill S.p.A. does not own equities or other securities representing the share capital of the ultimate parents, and did not at any time during the year, either directly or through subsidiaries, trust companies or other intermediaries.