36 | Commitments Commitments | 37

Edenred SBF 120

78.5% fl oating

July 2010 March 2012

€13

€22.56

+6.0 %

+73.50%

For the 2011 fi nancial period, up 40% on 2010.

The Board of Directors refl ects Edenred's geographic presence and integrates recognized expertise in digital technology and human resources. The Board members are:

JEAN-PAUL BAILLY* Chairman of the French Post Offi ce (Groupe La Poste)

SÉBASTIEN BAZIN Principal, Managing Director Europe of Colony Capital

ANNE BOUVEROT* Director General and Member of the Board of the GSMA association of mobile telephone operators

PHILIPPE CITERNE* Former Chief Operating Offi cer of Société Générale

GABRIELE GALATERI DI GENOLA* Chairman of Assicurazioni Generali S.p.A.

FRANÇOISE GRI* Chairman of Manpower France

ROBERTO OLIVEIRA DE LIMA* Managing Partner of Grau Gestão de Ativos and Director of Telefonica Brasil

BERTRAND MEHEUT* Chairman of the Canal+ Group Executive Board

VIRGINIE MORGON Member of the Eurazeo Executive Board

NADRA MOUSSALEM Principal of Colony Capital Europe

PATRICK SAYER Chairman of the Executive Board of Eurazeo

JACQUES STERN Chairman and Chief Executive Offi cer of Edenred

*Independent Directors

Total number of shares: 225,897,396

DIVIDEND PER SHARE (1) €0.70

THE BOARD OF DIRECTORS

EDENRED SHAREHOLDERS ON JANUARY 15, 2012(2)

STOCK PERFORMANCE

SHARE DETAILS

Trading market: Euronext Paris Listing market: Compartment A Indexes: CAC large 60, CAC Next20, SBF 120, SBF 250, CAC High Dividend, CAC All-Share, Euronext 100, MSCI Standard Index Europe Share code: FR0010908533

REGISTERED SHARES

Société Générale 32, rue du Champ de Tir BP 81236 - 44312 Nantes Cedex 3 - France Tel: +33 (0) 2 51 85 67 89 (cost of a local call)

73.7% Institutional investors

(1) Dividend for 2011 proposed by the Board of Directors to the Shareholders' Annual Meeting on May 15, 2012. (2) Based on AMF statements and the survey of the identifi cation of shareholders on December 31, 2011. (3) On January 15, 2012, joint holding between ColDay (Colony Capital, LLC), which holds 25,506,869 shares and voting rights, and Legendre Holding 19 (controlled by Eurazeo), which holds 23,061,291 shares and voting rights.

4.8% Individual

shareholders

21.5% Colony / Eurazeo(3)

The shares were initially listed on NYSE Euronext Paris at a reference price of €11.40. On March 30, 2012, the Edenred share price was 73.50% up on its opening price of €13 on July 2, 2010, compared with a rise in the SBF 120 of 6.0%. On this date, the Edenred share price was €22.56 and the company's market capitalization was €5.1 billion.

All year long, Edenred regularly provides its shareholders with information that is precise, thorough and

readily accessible, and stays in permanent contact with the fi nancial community to communicate its

development strategy, its business model, its performance and the latest news.

● DIALOG AND CLOSE CONTACTS WITH INDIVIDUAL SHAREHOLDERS

Edenred's individual shareholders can use a range of information and communications tool to stay in touch with the company and establish a close dialog. • A toll-free number 0805 652 662 (toll-free from a fi xed line in France) provides general information about the Group, the latest news (results, income, etc.), Edenred's share price in real time and the company agenda. Mon- day to Friday, from 9 am till 6 pm. • A dedicated e-mail address to subscribe to e-mail campaigns and press releases, or to ask the Group questions 24 hours a day: relations.actionnaires@edenred.com

● TRANSPARENT INFORMATION AND QUALITY RELATIONS

Edenred has kept French and international fi nancial analysts and investors informed on a regular basis, since the company was listed in July 2010. Individual interviews, meetings and conference calls are organized several times a year and every time the annual and six-monthly results are announced. In 2011, Edenred met almost 590 representatives from 277 fi nancial institutions and organized 14 roadshows in Europe, the United States and Canada. Edenred also took part in 11 confe- rences in France and the United States.

• A page for shareholders on the Group web site at www.edenred.com. This page contains all the fi nancial documentation, including the presentation of results, the registration document with the French fi nan- cial markets authority (AMF) and the share price in real time. • The Shareholders' Letter, published twice a year, containing the latest news and precise information on the company's strate- gy, its results, the share price and any signifi - cant events. The Shareholders' Letter can be accessed on the Finance pages of the web site and sent by e-mail. • Meetings in Paris and in the regions organized and chaired by the Shareholders Relations team. Edenred met almost 400 individual shareholders in Strasbourg, France in December 2011.

Edenred organized its fi rst Investor Day on November 29, 2011 in London. The Group's strategy was presented in detail to some 100 investors, bankers and fi nancial analysts from all over the world, with a focus on three topics: Edenred's positioning in the market of prepaid corporate services, the development of new solutions and the shift to digital. The fl oor was opened up for several question and answer sessions with Senior Management and operational Directors, proof of the interest shown by participants in Edenred's business model.

THE FIRST INVESTOR DAY

More than 200 people attended the shareholders' general meeting, which was also broadcast live, then replayed, on the Group's web site at www.edenred.com.

Off ering our shareholders a strategy for strong and sustainable growth