€628 million in issue volume*

4% of total Group issue volume

+4% growth

in issue volume

33 solutions

at the end of 2010

+6 new

solutions in 2011/2012

2011 KEY FIGURES

Motivating and rewarding performance

26 | Activities Activities | 27

A COMPLETE RANGE OF SOLUTIONS:

• Rewards: gift cards, gift vouchers, gift boxes, electronic gift vouchers, merchandise and experience gift catalogs • Marketing Services in the design and

campaign management of: - Incentive and rewards - Sales force motivation - Distribution networks incentives - Promotion campaigns - Loyalty programs

… AND MARKETING SERVICES

Edenred also delivers an integrated and differentiating offer in around 10 countries, where it supports companies in their relationship marketing strategies with a range of services (incentive, motivation, loyalty, etc.). These ser- vices cover the design and deployment of personalized campaigns, by harnessing a range of expert knowledge that encompasses tactical and operational consulting, technological platforms, data management tools, etc.

At the end of 2010, Edenred offered 33 solutions in more than 30 countries. The six new programs launched in 2011 and 2012 boosted the Group's offer in this seg- ment by 18%. The Group's long-term goal is to build on its renowned expertise in Incentive and rewards to weave closer and stronger relationships with its clients, affi liates and benefi ciaries.

*(excluding B2C)

MEETING COMPANIES' NEEDS FOR PERFORMANCE

Edenred offers companies an end-to-end response, compri- sing advice in designing incentive or motivation campaigns, off-the-shelf or personalized campaign management sys- tems and the rewards that are handed out as part of these campaigns. The Group's expertise encompasses motiva- tion, incentive, promotion and loyalty programs. Its solutions meet the specifi c needs: • to recognize and reward employees' individual perfor- mance, • to stimulate sales forces or drive distribution networks, • to manage loyalty programs and client relations, • to launch promotional campaigns for companies seek- ing to boost their sales, promote and test their products or create attractive activities as part of sales drives.

Edenred offers an extensive range of programs and services to companies looking for simple,

effi cient ways to motivate employees and teams, improve sales force performance and nurture

more loyal customer relationships. These solutions range from the conception and distribution of

rewards, in particular in the form of gift cards and vouchers, to relationship marketing services.

OFFERING A COMPLETE RANGE OF REWARDS…

Prepaid cards and gift vouchers, a social phenome- non that has emerged in numerous countries over the last 10 years, are without any doubt the most popular form of rewards with both companies and benefi cia- ries. Edenred's rewards programs, which are created and developed in most subsidiaries, are designed for companies looking for fl exible and practical solutions. From one country to another, these rewards are pro- posed in the form of paper and electronic vouchers or gift cards, which the benefi ciaries can spend in one or more affi liated merchants, including e-shops, or with any merchant in the country. Edenred's offer is com- pleted by gift experience boxes and gift catalogs. In some countries, these gifts are also available as part of Employee Benefi ts programs.