OUR VOCATION: LEADING THE WAY TO BETTER FOOD

WE NURTURE STRONG VALUES

Our Group consists of companies small scale, most often located within their milk production zones, united by a strong humanistic, family and entrepreneurial culture. We favor decentralized management placing operating subsidiaries at the heart of our development. Shared service entities are responsible for providing administrative, industrial and commercial synergies, developing high- performance information systems, sharing best practices, innovation and technologies, selecting projects and optimizing our brand and product portfolios.

Our shared total quality management approach focuses on satisfying our customers and respecting the expectations of other stakeholders. Economic and social development, respect for people and the environment: the Group and its staff are committed to sustainable performance.

Our action principles and rules of conduct are included in an Ethical Charter, The Group and its culture , available in all the Group s languages and a copy of which is provided to all employees.

Innovate to offer better food, emphasize quality and have respect for nature, conjugate our own development and that of our staff, invest to ensure growth and long-term future for the Group, contribute to the common good: such are the commitments which found the responsible and sustainable strategy that has been the Group s since its creation.

OUR GOALS INNOVATE FOR OUR CUSTOMERS ENCOURAGE THE PROFESSIONAL AND PERSONAL WELLBEING OF OUR EMPLOYEES PRESERVE OUR INDEPENDENCE SERVE THE COMMON GOOD

OUR ACTION PRINCIPLES

SUBSIDIARITY COLLEGIALITY AUTONOMY

OUR STRATEGIC ORIENTATIONS

CREATE VALUE VIA DIFFERENTIATION OF OUR SPECIALTY PRODUCTS AND INNOVATION

OUR VALUES

TOLERANCE COURAGE HONESTY LOYALTY

LISTEN BE ATTENTIVE

BE COMMITTED

2014 Annual Report8