2.11 Remuneration system for directors and managers with strategic responsibilities

The Board of Directors reviews the Remuneration Report pursuant to Article 123-ter of the TUF, whose first section – dedicated to the remuneration policy for directors and managers with strategic responsibilities adopted by the Company – is subject to an advisory vote by the Shareholders’ Meeting. Snam’s managers with strategic responsibilities are: Chief Financial Officer, General Counsel, EVP Human Resources & Organization, Chief Corporate Services Officer, Chief Industrial Assets Officer, Chief Commercial, Regulation & Development Officer and Chief International Assets Officer. For an explanation of Snam’s remuneration policy, please see the Remuneration Report, which will be submitted to the Shareholders’ Meeting for review on 11 April 2017 and made available on the Company’s Website.