The development OF A PIONEER

The group’s activities Edenred’s mission consists in making life easier for employees and improving the effi ciency of organizations on a daily basis. With its four families of solutions, Edenred meets the new needs of its stakeholders and of a changing society.

EMPLOYEE BENEFITS Innovative solutions for companies that want to make their employees’ lives easier in a number of areas, including food, transportation, healthcare, training and human services. See pages 16 to 21

EXPENSE MANAGEMENT Easy-to-use solutions for companies to transparently and cost-effectively manage business expenses incurred by their employees, in such areas as fuel and fl eet, travel and entertainment and work apparel cleaning and buying expenses. See pages 22 to 25

INCENTIVE AND REWARDS Personalized solutions for companies looking for ways to incentivize employees and teams, improve sales force performance and nurture more loyal customer relationships. See pages 26 to 29

MANAGEMENTOF PUBLIC SOCIAL PROGRAMS Secure solutions to enable public authorities and institutions to distribute public funds to citizens for an intended purpose, such as food, education, etc. See pages 30 to 33

38 countries

FROM A LOCAL SOLUTION TO WORLDWIDE LEADERSHIP

Employee benefi ts related to meal and food continued to grow worldwide, fi rst in Europe and then in Latin America, thanks to the company’s two fl agship brands: Ticket Restaurant® and Ticket Alimentación®. The Ticket Restaurant® entity, which had been a subsidiary of the Accor Group since 1983, set itself a new course in 1998, when it became Accor Services.

FROM THE CONCEPT TO THE DEPLOYMENT OF A BUSINESS MODEL

In 1962, Jacques Borel created the Ticket Restaurant® voucher program in France, along the lines of the Luncheon Voucher, which was launched in the United Kingdom in 1954. A French government decree, passed in 1967, offi cially recognized the meal voucher as an employee benefi t. On the strength of its success, the concept was exported outside France in 1976.

AN EXTENDED OFFER 2010 SEES THE BIRTH OF EDENRED

Right from the start of the new millennium, growth gathered pace and innovation opened up new horizons, including incentive, rewards and expense management solutions. Following the demerger of Accor’s Hotels and Prepaid Services businesses, Accor Services became Edenred. The new Edenred Group corporate mission became independent, hatched its bu- siness transformation project “EDEN”, named after the Group’s mission in French “Entre- prendre Différemment ENsemble”, or “Moving Forward Differently Together”, and was listed on the NYSE Euronext Paris on July 2, 2010. At the end of 2011, Edenred clearly expressed to its ambition to be the referent of its Customers and generate strong and sustainable growth.

50 years of innovation