Bylaws

Shareholders take decisions and appoint the Board of Directors and the Board of Statutory Auditors at the shareholders’ meeting.

Snam’s Board of Directors has the broadest powers to manage the company and may execute acts deemed necessary to achieve corporate objectives, in agreement with Snam’s Code of Ethics, the Italian Stock Exchange’s Code of Corporate Governance and other applicable laws and regulations. The Board of Directors appoints the chairman if the shareholders’ meeting has not already done so. The Board of Directors has constituted the following committees: Remuneration Committee, Appointments Committee, Control, Risk and Related Parties Committee and Environmental, Social and Governance Committee.

Snam’s Board of Statutory Auditors oversees compliance and proper administration of company activities. It evaluates the adequacy of the organisational, administrative and accounting structure adopted by the company and oversees its functioning. As required by law, the Board of Statutory Auditors also performs supervisory activities in its role equivalent to what is commonly called internal control and audit committee.