CENTRALE DEL LATTE DI TORINO & C. S.P.A.: The Board of Directors approved the merger by incorporation of the subsidiary Centro Latte Rapallo S.p.A.

Pursuant to the Consob Resolution 11971/99 as amended, the Board of Directors of Centrale del Latte di Torino & C. S.p.A. (the ”Incorporating Party” or the “Company”) was held today to approve the merger by incorporation (the “Merger”) of the 100%-subsidiary
Centro Latte Rapallo S.p.A. (the ”Incorporated Party”).

The terms and conditions according to which the Merger will be completed are indicated in the merger plan drawn up pursuant to article 2501 ter and article 2505, para. 1 of the Italian Civil Code, unanimously approved by the Board of Directors of the Incorporating Party on 19 October 2012.

As already explained in the press release issued on 19 October 2012, once the merger has been completed, there will be no changes to either the corporate by-laws or the share capital of Centrale del Latte di Torino & C. S.p.A., because the capital of Centro Latte Rapallo S.p.A. will be cancelled in full.

Taking account of the time required for filing and registering the various deeds in compliance with the law, the statutory effects of the Merger will be valid as of 1 April 2013, while the fiscal events will be backdated to 1 January 2013.

The documentation regarding the Merger is available on the Company’s website: centralelatte.torino.it.

Turin, 4 December 2012