Campari Arandas Tequila Espolon - Unnamed Road

In adopting this Model DAVIDE CAMPARI-MILANO N.V. aims to strengthen its organisational management and internal control, with specific reference to the regulations laid down by Legislative Decree 231 of 8 June 2001, and to increase the awareness of the Recipients of the Model of the importance of exemplary and transparent conduct, so as to minimise the risk of the offences set out in the Decree being committed.

This Model represents a formalisation of existing management structures, procedures and controls and forms part of the internal control system put in place by the Company in compliance with applicable regulations and legislation and consistent with best practice in corporate governance and the principles and rules of the Corporate Governance Code issued by listed companies.

This Model was approved by the Davide Campari-Milano S.p.A. Board of Directors on 11 November 2008 and subsequently updated to reflect any relevant legislative amendments.