In order to prevent the commission of offences from which the administrative liability of entities pursuant to Leg. Decree no. 231/2001 may derive, AMCO has adopted an organizational, management and control model, most recently updated by resolution of the Board of Directors on 16 march 2021.

The Board of Directors of AMCO S.p.A. is currently comprised of three members, appointed by the Company’s 2020 Shareholders' Meeting; the Board normally serves a three year term. In accordance with current legislation, two members of the Board of Directors are employees of the Ministry of the Economy and Finance, one of whom is the Chairman, and the third is the Chief Executive Officer and General Manager. The composition of the Board of Directors ensures compliance with current provisions on gender balance. The Directors of the Company must meet the integrity and experience requirements laid down by the Consolidated Law on Banking for the corporate representatives of banks and financial intermediaries and are subject to the causes of ineligibility, incompatibility, suspension and forfeiture provided for by the aforesaid legislation as well as other regulations applicable to public companies such as AMCO.

In accordance with the provisions of Leg. Decree no. 231 of 8 June 2001 (governing the administrative liability of legal persons, companies and associations, including entities without legal personality), the Board of Directors of AMCO S.p.A. appoints an independent Supervisory Body that is independent and competent with respect to the control of risks relating to the specific activities carried out by the Company, and which is responsible, in particular, for supervising the functioning of the Company and its compliance with the Organization, Management and Control Model adopted by the Company pursuant to the aforementioned Leg. Decree. The current Supervisory Body was appointed by the Board of Directors by resolution of 16 November 2018 and it shall serve until Financial Year 2020, in line with the Board’s mandate. The SB is comprised of three members (two external and one internal) chosen from among qualified individuals holding the necessary autonomy, experience, independence and integrity required under current regulations.

As a subsidiary of the Ministry of the Economy and Finance, pursuant to art. 12 of Law no. 259/1958, AMCO S.p.A. is subject to the financial management control of the Court of Auditors. More specifically, the Presidency of the Court of Auditors appointed the following individuals as authorized inspectors of the Company's financial management:

No penalties have been imposed