Inwit S p A : Integrated Report 2023

2023INTEGRATED REPORT

Sharing connections

INDICE

2

CONTENTS

Letter to Stakeholders	4
Economic and Financial Highlights 2023	6
Non-financial highlights 2023	8

1 COMPANY PROFILE	8
INWIT's core business	9
The history of INWIT	9
INWIT's strategy for value creation	11
Vision, purpose and values	15
SUSTAINABILITY FOR INWIT	18
 Sustainability Plan 2023-2026: 2023 results	16
 Materiality analysis	19
 Stakeholder engagement	23
 ESG rating	29
Governance structure and composition	30
 Corporate Governance System	30
 Share structure	31
 Organizational Structure	32
 Remuneration policy	38
Internal control and risk management system	39
 Code of Ethics	36
 Organizational Model 231	37
 Enterprise Risk Management	38
 Prevention of corruption	43
 Whistleblowing Procedure	49
Data privacy and data protection	50

2 FINANCIAL CAPITAL	52
Report on Operations as at December 31, 2023	54
Economic, equity and financial performance	54
 Consolidated operating performance	47
 Consolidated Financial Position Performance	51
 Financial Performance	61
INWIT e il mercato finanziario	65
Related Party Transaction	67
Operating performance	67
Economic and financial management events	68
Events subsequent to December 31, 2023	70
Positions or transactions resulting from atypical and/or unusual operations	70
Significant non-recurring events and transactions	70
Alternative Performance Measures	70
Taxation and taxes	72
EU Taxonomy	73
Other information	74

3 INFRASTRUCTURE CAPITAL	76
INWIT services	78
Hosting and customers	81
Customer Experience	82
Maintenance activities	83
Cyber Security	84
Business continuity	86
Innovation	87

4 SOCIAL AND RELATIONAL CAPITAL	92
Relations with the territory	94
 Initiatives on the territory: outdoor coverage	94
 Initiatives on the territory: indoor coverage	96
 Advocacy initiatives	97
Management of electromagnetic emissions	99

Supply chain's sustainability	101
 Supply Chain Management	101
 Sustainability criteria in tender evaluations	102
 Qualification, monitoring and evaluation of suppliers	104
 Sustainability risk assessment of suppliers	105

5 HUMAN CAPITAL	106
Workforce	108
 Information on employees and workers	108
 Recruitment procedure	110
 New employee hires and employee turnover	110
Well-being, development and empowerment of people	110
 Diversity and Inclusion	110
 Freedom of Expression	111
 Employee valorization and development	111
 Corporate Welfare	113
 Compensation	114
Employee skills development initiatives	116
 Training	116
 People engagement initiatives	118
 Industrial relations	118
Occupational Health and Safety	120
 Occupational Health and Safety Management System	120
 Health and safety training	121
 Injuries to employees and collaborators	121

6 NATURAL CAPITAL	122
Environmental protection	124
Energy management	125
 Energy Management System	125
 Energy targets and energy efficiency actions	126
 Energy consumption	127
Climate Strategy	128
 INWIT Strategy and commitments	128
 Science Based Target	128
 Direct and indirect CO2 emissions	129
Circular economy	131
 INWIT's waste management methods	132
The protection of biodiversity	134
 Position paper on the protection of biodiversity	134
 Projects for environmental monitoring and biodiversity protection	134

7 ANNEXES	136
 Methodological note	138
 Detailed tables on human capital indicators	142
 Taxonomy	144
 Table linking d.lgs 254/2016 themes, Global Compact principles, material themes	146
and sustainability plan
 GRI Content Index	147
 Table linking the principles of the Global Compact	151
 Independent auditors' report on the consolidated non-financial statement	152
8 CONSOLIDATED FINANCIAL STATEMENTS AS AT 31 DECEMBER 2023	156
 Certification of the financial statements pursuant to article 81b of consob regulation	230
 Independent auditors' report on the consolidated financial statements as at 12.31.2023	231
9 SEPARATE FINANCIAL STATEMENTS AS AT 31 DECEMBER 2023	240
 Certification of the separate financial statements as at 12.31.2023 pursuant to	310
art 81 ter of consob regulation
 Independent auditors' report on the financial statements as at 12.31.2023	311
 Report of the board of statutory auditors	319
	3

LETTER TO STAKEHOLDERS

LETTER TO STAKEHOLDERS	NFS
GRI 2-22

Dear Shareholders and Stakeholders,

We are pleased to present you with our first Integrated Report, containing the Annual Financial Report and the Non-Financial Statement. This document represents a further, significant milestone in the reporting path undertaken by INWIT in 2020 and aims to give a coherent and integrated view of the company to all our stakeholders.

An exercise that actually anticipates the requirements indicated by the CSRD (Corporate Sustainability Reporting Directive), the new directive on the sustainability reporting, according to which INWIT will be obliged to include sustainability information within the management report starting from 2026, with reference to the 2025 financial year.

The Integrated Report highlights our attention to the impacts that our activities can have on people, the environment, and territories and leads us to pursue sustainable success and create value for our shareholders and all our stakeholders.

Our mission, represented by the "tower as a service" concept, is to realize and manage shared and digital infrastructures, which enable operators and technologies to connect people and objects, anytime and anywhere, for the benefit of the communities in which we operate. Indeed, digital infrastructures are essential to enable a sustainable development model, where connectivity and digital innovation translate into attention to the needs of citizens and the country, equal opportunities and a lower environmental impact.

In 2023 we have accentuated our efforts to integrate sustainability into industrial strategy, with the aim of generating industrial, economic, environmental and social efficiency, and this Report fully expresses this.

People are at the heart of our strategy: This is why we are particularly pleased to be certified Top Employers, in recognition of our ongoing commitment to contribute to the well-being and development of our people and to improve the working environment to make it more inclusive. Another important achievement in this direction is having obtained UNI/PdR 125:2022 certification for Gender Equality, in a sector, like ours, where the path to equality is challenging and requires commitment and long- term vision.

Our digital infrastructures play an important role in the digital transformation of the country and the social dimension represents a priority in our sustainable business model. This is why we decided to be among the first 15 signatories promoting the Manifesto "Businesses for People and Society", promoted by the UN Global Compact Network Italy. In our daily actions, we support the 10 principles of the Global Compact, aware that organizations should promote a sustainable environment and do business in societies that are geared towards achieving the Sustainable Development Goals, as defined by the UN 2030 Agenda.

In terms of our commitment to combating climate change, after obtaining ISO 50001 certification of our Energy Management System, we defined an ambitious decarbonization strategy, validated by the Science Based Target initiative (SBTi), aimed at achieving Net Zero by 2040 for our direct and indirect CO2 emissions, consistent with international agreements on climate change (Paris Agreement) and aimed at keeping the increase in global warming within 1.5°C. Confirming the validity of our path, we

achieved a leadership level in the CDP Climate Change, the main rating that measures companies' climate commitments, with a score of A-.

With regard to sustainability ratings and indices, 2023 saw the confirmation of our inclusion in the Bloomberg GEI and FTSE4Good, two major ESG indices, the entry of prime status in the ISS ESG rating, and an upgrade by GRESB where we went from B to A.

Confirming the Company's growth path, INWIT's main industrial, economic and financial indicators showed further improvement in 2023, consistently with the Business Plan guidelines.

In terms of financial results, revenues reached 960 million euros in 2023, up 12.6% compared to 2022, and the EBITDA after-lease margin grew by 16.8%, the highest in the industry, reaching 71% as a ratio of revenues, up by more than two percentage points, also thanks to ongoing lease cost efficiency measures. INWIT confirmed its ability to generate high cash flows, with more than 611 million euros of Recurring Free Cash Flow, +24%, as a result of the growth in margins and of the benefits of tax efficiency plans.

These results allowed us to distribute dividends of more than 330 million euros, up 7.5% from 2022 and in line with the company's policy, which envisages further growth in 2024. In 2023 there was also a strong acceleration in the development of our assets, with investments amounting to 290 million euros, 55% more than in 2022.

The 'macro grid' site park has expanded with a record completion of more than 900 sites, bringing the total to over 24,000 and with the activation of over 4,200 new hostings for telecommunications equipment which have allowed us to reach a total of over 54,000 hostings contracts with a ratio of over

2.2 customers per site, among the highest in the industry. In addition, we implemented new projects for dedicated indoor coverage with Distributed Antenna Systems (DAS) technology, responding to the growing interest from operators, public administration, hospitals, and real estate and industrial asset owners, which led us to have a total of approximately 450 DAS under management by the end of 2023.

Strengthened by the results of the year that has just ended, we continue on this path with even greater motivation, aware that our infrastructure, digital and shared, and know-how are essential for enable a more connected future and a more inclusive, sustainable and secure society.

The Chairman	The General Manager
Oscar Cicchetti	Diego Galli

4

5

HIGHLIGHTS	ECONOMIC AND FINANCIAL HIGHLIGHTS 2023
	REVENUES	+ 12.6 %
	€ 960.3 MLN	VS 2022

EBITDA	+ 12.8 %
€ 879.2 MLN	VS 2022

NET PROFIT	+ 15.7 %
€ 339.5 MLN	VS 2022

EBITDAaL	+ 16.8 %
€ 685.6 MLN	VS 2022

INVESTMENTS	+ 55.1 %
€ 290.0 MLN	VS 2022

NFP	+ 3.2 %
€ 4,207 MLN	VS 2022

Financial Leverage equal to	- 0,4 x
4.8 X	VS 2022 (5.2X)

Recurring Free Cash Flow	+ 24.4 %
€ 611.5 MLN	VS 2022

NON-FINANCIAL HIGHLIGHTS 2023

GOVERNANCE

BOD: 55% INDEPENDENT

BOD: 45% WOMEN

NEW CODE OF ETHICS

INFRASTRUCTURE

CAPITAL

+ 24,000TOWERS	+ 54,000 HOSTINGS
	450 DAS	1.000 Km of tunnel covered

SHARECAPITAL

120 HOSPITALS	448 hosts in IVSM>99 area
covered by DAS
	UNCEM PROTOCOL	97% LOCAL EXPENDITURE

HUMANCAPITAL

296EMPLOYEES	UNI PDR 125	Lost Days Injury Rate 0,87
39% WOMEN	GENDER EQUALITY CERTIFICATION

NATURALCAPITAL

NET ZERO TARGET	ISO 50001ENERGY MANAGEMENT	98% RECOVERED MATERIALS
APPROVAL TO 2040	SYSTEM CERTIFICATION

6

7

COMPANY PROFILE

1

PROFILE	INWIT'S CORE1	BUSINESS	NFS
COMPANY	GRI 2-1,2-6 (partial)
INWIT is the largest operator in the wireless infrastructure sector in Italy, with a market share of over 45%.

INWIT builds and manages digital and shared infrastructures, which house the radio transmission equipment of mobile, FWA and IoT telecom operators.

INWIT's infrastructure consists of an integrated ecosystem of macro-grids (towers, masts, pylons and related technological installations) and micro-grids (DAS, small cells, repeaters), with an offer that follows technological developments, serving all mobile operators.

INWIT's macro grid is made up of over 24 thousand towers, widely distributed throughout the country, with a density of one tower every 3 km. The technological content and the strategic nature of the locations make INWIT sites attractive to all operators in the telecommunications market, present today with over 54,000 hosting contracts, for a tenancy ratio of over 2 hosts per site, among the highest in the sector. INWIT continues to invest in expanding and optimizing its network to serve the growing demand for mobile data and the coverage and technology upgrade needs of operators.

INWIT's micro-grid complements and supports the macro-grid, providing coverage and network capacity with its approximately 450 DAS (Distributed Antenna Systems) equipment, small cells and repeaters installed in indoor and outdoor locations characterized by high user density and specific needs for dedicated coverage. The nearly 8,000 remote units of the micro grid cover sites such as stations, hospitals, shopping malls, offices and production areas, as well as roads and highways. To date, INWIT covers about 1,000 km of road and motorway tunnels, including some of the main national arterial roads. The demand for dedicated microgrid coverage is supported by the technology transition from 4G to 5G and the increasing mobile data consumption.

All of this makes INWIT central to enabling telecommunications technologies, contributing significantly to overcoming the digital divide and digitizing the territory.

Milestones in the history of INWIT

2015

INWIT is born

Creation and listing of Infrastrutture Wireless Italiane S.p.A. Tower Operator Neutral Host

Towers, microcells and DAS

2018

Thanks to its towers and the implementation of Microcells and DAS, INWIT is

a leader in Italy in the field of mobile telephony infrastructure

2019

Partnership with Vodafone

Thanks to the partnership with Vodafone, Italy's largest tower operator.

INWIT and Vodafone Towers merger

FTSE MIB and STOXX® Europe 600

2020

INWIT stock is included in the main Italian stock index, the FTSE MIB,

The merger generates a significant transformation of its size.

and the STOXX® Europe 600.

2021

Acquisition from Vodafone Italy

First EIB and Sustainability-linked term loan,

of radio installations and DAS to cover 1,000 km of road

and motorway tunnels.

linked to specific sustainability indicators

Digital Divide Reduction Agreements

ESG Indices

2022

NRRP "Italia 5G" Plan announcement

Agreement with Open Fiber.

Inclusion in the FTSE4Good and Bloomberg Gender Equality Index.

Record of more than 900 new sites set up in the year.

ESG Certifications

Tenancy Ratio at 2.23.

First sites of the NRRP Italian Plan

ISO 50001 Energy Management System UNI PdR 125 for gender equality.

2023

5G-Densificationwere built.

Net Zero Target 2040

Protocol with UNCEM

Target approved by the Science Based Initiative (SBTi).

for the digital infrastructure of municipalities and mountain communities.

WWF and Legambiente projects

Protocol with ANCI, Infratel, DTD

for environmental monitoring to protect biodiversity.

to reduce the digital divide.

2024 INWIT's growth continues

10

THE HISTORY OF INWIT

NFS

INWIT's story began in March 2015, following the spin-off of Telecom Italia's "Tower" branch.

The merger with Vodafone Towers, finalized at the end of March 2020, significantly transformed its size and strategic profile.

INWIT's activity is directly linked to the birth and development of mobile telecommunications in Italy, at the hands of the two main operators in the sector, TIM and Vodafone Italia. As incumbent and first challenger, the two operators have invested in creating the best networks, characterized both by the quality of the locations and the high standard of infrastructure implementation. INWIT has inherited all this heritage, together with a wealth of technical and professional knowledge of the highest level, and continues to work to consolidate it, creating a set of systems, processes and knowledge that can create value, at the service of the rapid and efficient deployment of 5G by operators.

1 It should be noted that the requirements of GRI 2-6 are covered under points a., b.i. in the INWIT paragraph: INWIT's core business; for points b.ii, c, in the section "INWIT strategy for value creation", and for the remainder in the section "Supply chain management".

INWIT'S STRATEGY	NFS
FOR VALUE CREATION
GRI 2-6 (partial)

In Italy, the market and the technological environment are growing rapidly thanks to the constant
increase in mobile data consumption and the evolution of wireless technology that is extending 5G
coverage and the related densification requirements, a fundamental development element for wireless
infrastructures.
The transition to 5G network architecture has important implications for the digital infrastructure sector
and towers in particular, as more macro sites and points of presence (macro grids) are required to cope
with the densification needs of 5G, in order to provide performance, security and end-user friendliness
anytime, anywhere. The transition to 5G is also a key driver for the development of micro grids, which	INDEX
are needed to optimize coverage and capacity, offering low latency indoors (with Distributed Antenna
Systems, DAS) and, in the future, outdoors through small cells.
Added to this is the Next Generation EU, planned by the European Union to stimulate recovery and
development post COVID-19. The National Recovery and Resilience Plan (NRRP), within the framework of
the Next Generation EU, devotes ample space and substantial resources to the theme of the country's
innovation in digital terms, favouring a broad investment cycle in digitalization and infrastructure.	11

COMPANY PROFILE

12

In particular, INWIT was awarded as agent, together with TIM and Vodafone, the 'Italia 5G Plan - Densification' tender of the NRRP, reinforcing its role as an enabler of digitalization, supporting mobile operators, to reduce the digital divide, with a view to the inclusion of regions and the development of 5G. The digital dimension is a necessity for businesses, citizens and public administrations in the process of transformation towards more agile and flexible organizational, production and service models, both private and public. This context opens up opportunities for tower operators and INWIT is well positioned to play a relevant role in the development of digital infrastructures to support telecom operators.

The value chain of mobile telecommunication services includes:

• spaces, owned or leased, where infrastructure is located;
• fibre optic link connecting the site to the operators' "core network";
• passive infrastructure consisting of poles and pylons usually owned by tower companies and active with antennas owned by operators;
• free or licensed frequencies owned by operators;
• connectivity services, offered by operators, reaching end users, consisting of the public, public and private companies (business customers).

INWIT has a clear positioning within the value chain, leveraging its assets (micro and macro grid) to offer infrastructure services to operators with a sharing model open to all mobile operators, FWA (Fixed Wireless Access) and other customers such as OTMO (Other Than Mobile Operator) and IoT (Internet of Things).

INWIT's Industrial Plan envisages a path of significant organic growth, supported by investments aimed at strengthening the company's infrastructure, macro grid and micro grid, in order to better serve operators and contribute to the digital evolution in the market. In particular, the construction of new sites and the growth of hosting for TIM and Vodafone are expected to support the efficient and fast deployment of 5G and the continuous improvement of regional coverage. Moreover, the neutral host role allows INWIT to be able to meet the demand of all major market players, both mobile and FWA. Another pillar of the industrial strategy is the rapid development of micro-coverages, in particular DAS distributed antenna systems that enable the efficient handling of mobile phone signals even in very crowded areas such as stadiums, hospitals, universities, stations, museums or industrial plants. The development of DAS systems has seen significant momentum over the past two years, thanks to the growth in the number of hosts on the installed infrastructure, the increasing number of equipped locations, and an investment in dedicated roofing along approximately 1,000 km of road and motorway tunnels.

In line with this growth, INWIT's business is increasingly evolving towards the concept of tower as a service, thanks to the possibility of offering more integrated services starting with the infrastructure, in line with one of the main business models of circular economy, that of product as a service. In fact, INWIT shares its assets and infrastructures, also ensuring their maintenance and technology upgrades, with multiple customers, who use them without owning them. This avoids the need for each operator to build its own infrastructure, resulting in environmental benefits that can be seen over the entire life cycle of the assets, from the use of materials for construction, to the use of energy in the operation phase, and on to the end-of-life phase.

At the same time, towers can already offer different services to operators, through a transformation from an infrastructure for hosting radio transmission systems, to an advanced technology centre, where IoT components and communication systems merge and become an integral part of the 5G

ecosystem and enabler of all related innovative use cases. In fact, INWIT's Industrial Plan outlines an evolution towards increasingly intelligent towers: distributed and protected digital assets that can make a concrete contribution to the digital transformation of the country's economic and social activities. The widespread presence of INWIT's towers enables the provision of advanced services even in areas where fibre connectivity will arrive later, thus anticipating the country's digitalization and reducing the digital divide. A capillarity that allows INWIT's towers to be considered natural hubs for environmental and weather monitoring as well. In addition, therefore, the Industrial Plan envisages the trial and development of adjacent businesses to foster the development of smart cities. Among those with the most potential in the medium to long term are IoT (Internet of Things) and the hosting of mini data centres to be placed at the base of our towers for those services that need low latency. INWIT also has a Sustainability Plan, an integral part of its industrial strategy, through which it aims to make the transition to a sustainable business model, considered an enabler for the Company's growth.

Strong and sustainable growth thanks to the pillars of our industrial plan
GROWTH		1 MACRO GRID	2MACRO GRID	3MICRO GRID	4REAL ESTATE
	ANCHORS	OLOs
	PARTNER	DEVELOP	BOOST	OPTIMISE
	WITH ANCHORS	CLIENTS' DEMAND	DAS INDOOR	LAND OWNERSHIP
		FOR EFFICIENT 5G	PROACTIVELY	COVERAGE AND	& LEASES
		DEPLOYMENT		LARGE PROJECTS

ENABLERS	PEOPLE: DEEPER AND BROADER SKILLS FOR DIFFERENTIATION
DIGITAL: KEY PROCESS AUTOMATION
	SUSTAINABILITY: DIGITAL DIVIDE, ENERGY TRANSITION, INCLUSION

COMPANY PROFILE

14

INWIT's market positioning, strengthened by a relevant investment plan, allows it to pursue organic growth targets among the most ambitious in the industry, along four main lines:

• the partnership with anchor tenants for efficient 5G deployment;
• proactive business development with OLOs, MNOs, FWAs and others;
• the acceleration of the DAS indoor micro-coverage network and large projects (e.g. smart city);
• optimization of leasing costs.

In March 2024, INWIT's Board of Directors examined and approved INWIT's new Industrial Plan for the period 2024-2026 (the "2024 Business Plan"), which confirms the guidelines approved in March 2023 and the INWIT's ability to invest in developing its infrastructure by developing the main indicators industrial, economic and financial, reflecting the recent evolution of the macroeconomic environment, industrial and market environment. Confirming the growth path of the Industrial Plan approved in March 2023, the 2024-2026 Business Plan projects revenues to increase over the period at an average annual rate of"high-single-digit" in the range of 1,160-1,240 million euros in 2026, with an expansion of the EBITDA margin to about 92 percent and EBITDAaL margin to about 76 percent. Margin growth is expected to result in an expansion of cash generation (Recurring Free Cash Flow) in the range of 720-740 million euro in 2026.

Foreseeable development of operations for fiscal year 2024

The reference, technological and market scenario for the Tower Companies sector is characterized by positive structural trends such as the growing use of mobile data, the ongoing technology transition to 5G, the need to complete and densify coverage, also contributing to the reduction of the digital divide in addition to significant investments in infrastructure and digital technologies.

These trends translate into growing market demand for new digital infrastructure and hospitality services, underpinning the Company's solid growth trend, which has seen continuous improvement in industrial, economic and financial indicators from the merger with Vodafone Towers in 2020 to the year 2023. INWIT's Business Plan envisions further expansion of these indicators through 2026, supported by a significant investment plan aimed at intercepting growing demand.

In the short term, in addition to the strong demand for connectivity, elements of difficulty and high competition continue to persist in the Italian telecom operator market, impacting the sector's profitability and investment capacity. INWIT's business model, based on long-term hospitality contracts and indexing to inflation, is a protective and supportive element in this context.

Regarding the expected development of operations for fiscal year 2024, we expect:

• Revenue growth in the range of 1.030-1.060 million;
• EBITDA margin above 91%, stable compared to 2023;
• EBITDAaL margin of about 73 percent, up more than 1 percentage point from 2023;
• Recurring Free Cash Flow growing in the 620-640 million euro range.

Regarding shareholder remuneration, the policy for the period 2023-2026 approved on March 2, 2023 is confirmed, which includes an increase in dividends and the initiation of a share buyback plan, as reported in the Dividend Policy and Shareholder Remuneration section, to which we refer.

COMPANY PROFILE

Our business model

OUR MISSION

We implement and manage shared and digital wireless infrastructures which enables the operators and the technologies to connect peoples and goods, always and everywhere, for the benefit of our community

OUR GUIDING PRINCIPLES

• • People
  • Digital
• Sustainability

VISION, PURPOSE AND VALUES

VISION: An increasingly connected and sustainable future

INWIT believes in an increasingly connected and sustainable world, where infrastructures enable the connection of people and objects, anytime and anywhere, in order to generate long-term value for the community and its stakeholders.

PURPOSE: Sharing Connections

INWIT builds and manages shared and digital wireless infrastructures that enable operators and technologies to connect people and objects, anytime and anywhere, for the benefit of the communities in which it operates.

16

INPUT

FINANCIAL

INFRASTRUCTURE

SOCIAL AND

HUMAN

NATURAL

CAPITAL

CAPITAL

RELATIONAL CAPITAL

CAPITAL

CAPITAL

Financial resources

Infrastructure

Relationships with:

Employees

Energy consumption

and real estate

Sales Partners

Collaborators

Use of resources

Technologies (e.g. 5G)

Local communities

Technology assets

Universities and

Business and

research centers

technological know-how

	BUSINESS MODEL
		5G Mobile macro-sites
	Low Earth Orbit	densification
	satellite		Optic fiber
	ultra-broadband
	solution via satellites		Widespread
			deployment
High-density		CHS	Transport
	E
venues			T
Private networks			infrastructures
	Tailored		FWA	SES
	enterprise
		ultra-broadband	A
	connectivity		C
		in low density areas	E
			U
				S
VR/AR	Edge computing
Computational
		DAS	Industry
	power close
	to final user		Denser coverage	automation
	IoT		on high-footfalls
	Small cells
Remote surgery	Smart connected
devices	Massive capacity
		and ultra low-latency		Smart
				agriculture
	Smart grid
	Smart surveillance	Drones	Smart roads and
	autonomous vehicles
		BVLOS

OUTPUT

FINANCIAL

INFRASTRUCTURE

SOCIAL AND

HUMAN

NATURAL

CAPITAL

CAPITAL

RELATIONAL CAPITAL

CAPITAL

CAPITAL

Capital fastness

Communication

Innovative

Skills growth

Emissions

infrastructure

projects with local

Well-being

Waste production

Optic-fiber links of

communities

of employees

transmission sites

Digitization projects on

and employees

Service innovation

the territory

OUTCOMES

	• Creating added value	• Dissemination of new technologies (e.g. 5G)	• Corporate identity and talent attraction
	• Reducing the digital divide and increasing	• Enterprise network development	• Occupational Health and Safety
	transmission capacity	• Development of local communities;	• Valorisation and integration of diversity
	• Development of the productivity of the territory	• Greater social and digital inclusiveness;	• Reduction of environmental impacts

The values of INWIT

Passion for our customers

We are partner of our customers to build infrastructure and develop innovative solutions to meet their needs and enable the sharing of data, services and goods.

Partnership - Reliability - Innovatio

Passion for our people

We value the connections between our people, promoting their inclusion, well-being and development, so that we can all be involved and be responsible for our successes, from the point of view of ethics and integrity.

Collaboration - Responsibility - Integration.

Passion for results

We work every day to improve our performance and achieve maximum results for us, our customers, our communities and all the stakeholders we work with.

Planning - Care - Simplicity.

Passion for sustainability

Ours is a sustainable business that puts the environment and the community at the center. We are committed to enabling the digital transition by promoting a fairer and more inclusive society, reducing the digital divide, and fostering innovation.

Digital - Inclusion - Environment.

Passion for the success replaced

Our commitment is to an increasingly connected anda sustainable world. It is the passion we put every day for our customers, for our people, for results and for sustainability, that allows us to generate long-term value for the community and all our stakeholders.

PROFILE	SUSTAINABILITY FOR INWIT	NFS
COMPANY
INWIT's business model is intrinsically sustainable, as it enables more efficient development along
	the entire value chain: the tower today is a shared, digital infrastructure that combines industrial,
	economic, social and environmental efficiency.
	The digital transition and the development of 5G require huge investments. A shared infrastructure,
	i.e. serving several operators at the same time, can guarantee a better return on investment for
	operators. At the same time, infrastructure sharing allows for limited environmental impacts in terms
	of land and resource consumption, and thus lower CO2 emissions. The contribution made to reducing
	the digital divide also creates social value and enables greater inclusion for the populations and
	regions involved. INWIT therefore assumes a significant role as an enabler in Italy's digital transition
	process, giving rise to the realization of the concept of tower as a service of its infrastructures, which
	is at the heart of the company's strategy and Sustainability Plan.
	Digital and shared infrastructures are therefore an opportunity to enable a sustainable development
	model, where connectivity, advanced services, digital innovation,	sustainable management
	of resources, attention to the needs of citizens and the country, greater well-being and equal
	opportunities, and a lower environmental impact are the cornerstones of a new economic and social
	development model.

In line with its mission, since 2020 INWIT has adhered to the United Nations Global Compact (UNGC), a voluntary initiative of the United Nations that aims to promote corporate social responsibility through adherence to ten fundamental principles relating to human rights, labour,

the environment and anti-corruption. INWIT participates in the Italian Global Compact Network through its membership of the GCNI Foundation, confirming its willingness to integrate the ten principles within its strategy, culture and daily operations of the company. Furthermore, in order to strengthen its commitment to inclusion and sustainability, INWIT has signed the Women's Empowerment Principles promoted by the UN Global Compact and UN Women.

SUSTAINABILITY PLAN 2023-2026: 2023 RESULTS

Consistent with the 2030 Agenda for Sustainable Development, defined in September 2015 by the governments of the 193 UN member countries with its 17 Sustainable Development Goals and 169 targets, INWIT, since 2020, has had a Sustainability Plan based on the three pillars Environment, Social and Governance, integrated in our corporate strategy, represented by the concept of "Tower as a service". Medium to long-term objectives and specific lines of action have been set for each pillar. The Sustainability Plan is approved by the Board of Directors and is fully integrated into the Industrial Plan.

Sustainability plan 2023-2026

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TOWER AS A SERVICE

We implement and manage shared and digital wireless infrastructures which enables the operators and the technologies to connect peoples and goods, always and everywhere, for the benefit of our community

Implement a strategy to reach Net Zero Carbon goal by 2040 and reduce our environmental footprint using a circular economy approach

3Carbon, Environment and Energy 3 Management

3Energy efficiency and renewable 3 sources

3Circular Economy approach 3 Biodiversity

Contribute to the digital divide's reduction and to the social, cultural, and economic growth of our community and encourage our people engagement, welfare, development, and safety

• Coverage solutions: indoor and outdoor
• Coverage of digital divide and socially backward areas
• Skills development
• Diversity & Inclusion
• Health & Safety

Design and implement a corporate

governance system aimed at

• 1. sustainable success
• Stakeholder engagement
• Business ethics, transparency and anticorruption
• Sustainable Supply Chain
• Corporate identity
• Neutral host

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