
Created to define the main characteristics and purpose of the Company, as well as the primary rules for its organisation and management, corporate by-laws describe the system of governance and set out the criteria adopted for the composition and division of powers attributed to the corporate bodies and the relationship between those bodies.
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World Duty Free S.p.A. was incorporated on March 27, 2013 specifically for the Demerger's implementation and its share capital, at the Date of the Document, is entirely owned by Autogrill. Since its incorporation, it has only conducted operations in preparation for the Demerger. The Group operates in the airport travel retail and duty free business. The Company operates in airports around the world. The Company has operational footprints across United Kingdom, Rest of Europe, Americas, Asia and Middle East.

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