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NOTE CONCERNING

THE METHOD

Report boundary

and reporting process

Discussion of reporting principles

Costa Crociere S.p.A.’s Sustainability Report 2015 (hereafter “the Report” or “the

document”) is the tenth edition of this document, which is designed to provide

stakeholders with a complete and – as far as possible – comprehensive account of the

economic, environmental and social impacts of the different activities performed by

the Company.

The Report, which is drawn up in accordance with the GRI - G4

1

Sustainability

Reporting Guidelines prepared by the Global Reporting Initiative, with a compliance

level “

inaccordance-core

”, has the additional aimof combining corporate responsibility

with an approach that is increasingly focused on shared value. To this end, the text

makes use of conceptual terms regarding the organization’s business model and the

various forms of capital defined in the methodological framework developed by the

International Integrated Reporting Council.

The Sustainability Report is drawn

up annually by Costa Crociere S.p.A.’s

Sustainability Department, which is in

charge of central coordination of the

reporting process and the engagement

of the relevant corporate functions.

All the information presented has been

obtained from Costa’s in-house IT

systems and databases, and validated

by the respective data owners. The

sustainability topics dealt with in

this Report concern operations and

activities performed by Costa Cruises

in 2015; only in certain areas (specified

below) do they refer to the Costa

Crociere Group as a whole. For the

sake of completeness and internally

consistent presentation of information,

the organizational dimension includes

The main reporting principles, in

accordance with those laid down by

the GRI and appropriately applied and

adapted to Costa Cruises’ operating

context, are set out below. For details

of the proper coverage of the standard

disclosures and indicators, see the table

in the appendix.

data updated at the time of issue of the

Report (June 2016).

For the reader’s information it should be

noted that “the Costa Crociere Group”

or “the Group” is intended to mean

the parent company that operates the

brands Costa Cruises and AIDA, while

“the Company” is intended to mean the

business entity that manages all the

activities carried out by the brand Costa

Cruises. The economic and financial

data presented in this Report is taken

from the civil code balance sheet at

November 30, 2015 of Costa Crociere

S.p.A. as approved by the Shareholders’

Meeting. It is also pointed out that the

data included in the report boundary

refers exclusively to the Costa Crociere

Group.

1

The Global Reporting Initiative (GRI)

is a multi-stakeholder independent

institution whose process and mission

is to develop and disseminate globally

applicable sustainability reporting

guidelines. These Guidelines contain

principles and indicators for voluntary

use by organizations for reporting on

the economic, environmental and social

dimensions of their activities, assisting

the process of improving disclosure

and enhancing the comparability and

standardization of reporting.