● CUSTOMER INSIDE, OUR MANAGEMENT APPROACH

As the single product is replaced by a mul- titude of solutions and as digital media take over from paper-based services, Eden- red's environment is changing and growing to include new markets. Our close rela- tionships with individual clients are turning into networks that bring together a multitude of customers. These changes demand clear managerial points of reference and prin- ciples, if we are to stay on course for growth in all our territories.

“Customer Inside” is based on the simple intention to address customers' interests and concerns and meet their needs.

Our teams are driven by the common goal to make our Customers ambassadors of the brand, so that they choose us and recommend us as the referent on our markets.

Every day, every employee, working in every one of the company's activities strives for sim- plicity and excellence and endeavors to deli- ver the right response at the right time and to create value for our Customers.

This management approach relies on two main drivers to bring about change: operational ex- cellence and differentiation. It also calls on the extensive resources throughout the Group and

in the countries, from management training, to the application of key principles to every team, the harmonization of Human Resources poli- cies and integration in operational processes.

The implementation process is built for the long term, and reaches into the very DNA and the fundamentals of our company culture.

12 | Strategy Strategy | 13

Edenred has defi ned a corporate social responsibility approach that is thoroughly aligned with its core business. Committed to the promotion of balanced nutrition and the fi ght against obesity for several years already, Edenred now plans to step up its action in favor of healthy eating habits.

The Ticket Restaurant® voucher was created 50 years ago to make it easier for employees to take a real lunch break and to reduce hy- giene-related problems that could be detri- mental to their health. In 2012, the issue at stake for employees is a healthy diet. Eating habits have become a major public health problem and an individual struggle, espe- cially for employees.

But initiatives already exist, both in the food offer in restaurants and in major and minor retail outlets, which are becoming increasin- gly aware of the importance of healthy eating, and in the demand expressed by consumers for better information and support.

Edenred's social responsibility action will rely on restaurant owners, food ven- dors and consumers already convinced of the importance of a healthy nutrition and already committed to taking initiatives in this direction. Along with some of these pioneers, Edenred plans to test innovative actions and analyze new trends in an effort to change the habits of the grea- test number.

The logic behind is facilitating the cove- rage of success stories and promoting the positive experiences of restaurant owners and consumers convinced of the benefi ts of healthy eating in order to encourage the spread of good practices.

The Group aims to provide the methods and the means of measuring the re- sults, such as the performance indicators of restaurant owners that are committed to taking exemplary actions.

“2012 will see the launch of our corporate social responsibility program on healthy eating, which is close to our core business.” Jacques Stern

at the heart of our corporate social responsibility

Our “Customer Inside” management approach is designed to place our Customers at the center of all our

actions and decisions. Every one of the Group's 6,000 employees is committed to this corporate approach,

which is defi ned and supported by the Executive Committee.

“Customer Inside consists in doing simple things exceptionally well, every day.” Jacques Stern

at the heart of our activity Placing our Customers

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cust mer inside