5. Board induction sessions for directors and statutory auditors

Following the appointment of the Board of Directors and the Board of Statutory Auditors, board induction sessions were held, which were attended by the members of both Boards.

In accordance with the Code of Corporate Governance, the board induction sessions aim to provide directors and standing auditors with adequate knowledge of the sector in which the Company operates, as well as focusing on company dynamics and changes in the ownership structure. The sessions covered:

1. the structure and rules of the governance system;
2. the internal control and risk management system;
3. the strategies of Snam and its Subsidiaries;
4. the operating and market context;
5. the relevant regulatory framework.

The sessions were designed and led by the directors and/or heads of the relevant units and focused on:

• the corporate governance of Snam and the Group, with a view to illustrating:
• the evolution of Snam’s corporate governance model, in light of the Unbundling Regulation and the ownership unbundling by Eni;
• Snam’s current corporate governance structure;
• the main compliance and governance procedures adopted by Snam;
• the regulatory system, with a view to illustrating:
• the regulatory system in which Snam operates;
• the regulations governing infrastructure;
• the tariff regulatory framework; and
• the operating and market context;
• introduction to the Group: this aimed to give a financial overview of the Snam Group;
• the governance rules of Snam and its Subsidiaries, with a view to illustrating:
• the principles that form the basis of the management and coordination activities carried out by Snam;
• the Code of Ethics, Model 231 and the anti-corruption procedure;
• the Health, Safety, Environment and Quality system and the Privacy Code;
• the internal control and risk management system;
• strategic plan: this aimed to illustrate the strategies of Snam and its Subsidiaries. This session was conducted by the CEO.

In February 2015, a board induction session was held for director Yunpeng He, who was co-opted to the Board on 26 January 2015. In May 2015, an off-site induction session was held for directors and statutory auditors with a view to ensuring that they acquired significant information about the various activities of the Group, including through interaction with the management of the Subsidiaries.