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Report on operations

Profile

ENAV, an unlisted joint stock company, is wholly owned by its sole shareholder,
the Italian Ministry of Economy and Finance (MEF), which exercises its rights in
agreement with the Ministry of Infrastructure and Transport (MIT). ENAV provides
air traffic management and control services and other essential navigation services
for the airspace and to the airports for which it has competence pursuant to article
691-bis of the Navigation Code.
ENAV was established pursuant to the provisions of Law No. 665 of 21 December
1996, as subsequently modified and consolidated, by virtue of which the previous
Azienda Autonoma di Assistenza al Volo per il Traffico Aereo Generale (AAAVTAG)
(Autonomous Flight Assistance Company for General Air Traffic), an independent
organization from the Italian state public administration, was first transformed into
a Public Undertaking denominated Ente Nazionale di Assistenza al Volo (National
Agency for Flight Assistance) and, subsequently on 1 January 2001, by virtue of
Interdepartmental Decree No. 704993 of 22 December 2000 of the Ministry of
Infrastructure and Transport and the Treasury Department, was incorporated in its
current legal form of a joint stock company under the name of ENAV S.p.A.
Pursuant to Article 691 bis of the Navigation Code, ENAV fulfils the services of air
navigation which is broken down into:
a. air traffic services, which include: air traffic control services, including area,

approach and airport control services; flight information services; air traffic
consulting services; alarm services;
b. aeronautical meteorological services;
c. aeronautical information services;
d. communication, navigation and surveillance services.

Board of Directors of ENAV

ENAV’s corporate governance model is of a traditional type; its articles of association,
for the duration of Fiscal Year 2015, provides a Sole Director or a Board of Directors
made up of a minimum of three and a maximum of five members and a Board of
Statutory Auditors made up of three members. Following the amendments made
in 2016, the provision for a Sole Director was eliminated and provisions were
introduced to increase the number of directors on the Board to a minimum of five
up to a maximum of nine.
The composition of the Board of Directors must comply with the rules set forth
in the Decree of the President of the Republic of Italy No. 251 of 30 November
2012 regarding gender balance in administrative and control bodies of government-
controlled companies, observing all the terms and conditions provided therein.

ENAV - Annual financial report 2015 11