Poste Italiane S p A : 2024 - 2028 Strategic Plan. The Connecting Platform

POSTE ITALIANE

2024 - 2028 STRATEGIC PLAN

THE CONNECTING PLATFORM

ROME, 20 MARCH 2024

C H I E F E X E C U T I V E O F F I C E R

AGENDA

10:00 - 10:50

Matteo Del Fante - CEO

10:50 - 11:10

Massimo Rosini - Mail & Parcel

11:10 - 11:30

Guido Nola - Financial Services

11:30 - 11:50

Andrea Novelli - Insurance Services

11:50 - 12:10

Laura Furlan - Postepay Services

12:10 - 12:25

Camillo Greco - CFO

12:25 - 12:30

Matteo Del Fante - Closing Remarks

12:30 - 13:00

Q&A Session

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C H I E F E X E C U T I V E O F F I C E R

2024 - 2028 STRATEGIC PLAN: THE CONNECTING PLATFORM

SPEAKERS

Massimo Rosini	Guido Nola	Andrea Novelli
Mail & Parcel	Financial Services	Insurance Services

Matteo Del Fante

Chief Executive Officer

Laura Furlan	Camillo Greco	Giuseppe Esposito
Postepay Services	Chief Financial Officer	Investor Relations

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C H I E F E X E C U T I V E O F F I C E R

DISCLAIMER

This document contains certain forward-looking statements that reflect Poste Italiane's management's current views with respect to future events and financial and operational performance of the Company and of the Company's Group.

These forward-looking statements are made as of the date of this document and are based on current expectations, reasonable assumptions and projections about future events and are therefore subject to risks and uncertainties. Actual future results and performance may indeed differ materially from what is expressed or implied in this presentation, due to any number of different factors, many of which are beyond the ability of Poste Italiane to foresee, control or estimate precisely, including, but not limited to, changes in the legislative and regulatory framework, market developments, price fluctuations and other risks and uncertainties, such as, for instance, risks deriving from the direct and indirect effects resulting from the international conflict in Eastern Europe.

Forward-looking statements contained herein are not a guarantee of future performance and you are therefore cautioned not to place undue reliance thereon.

This document does not constitute a recommendation regarding the securities of the Company; it does not contain an offer to sell or a solicitation of any offer to buy any securities issued by Poste Italiane or any of its Group companies or other forms of financial assets, products or services.

Except as may be required by applicable law, Poste Italiane denies any intention or obligation to update or revise any forward-looking statements contained herein to reflect events or circumstances after the date of this presentation.

Pursuant to art. 154- BIS, par.2,of the Consolidated Financial Bill of February 24, 1998, the executive (Dirigente Preposto) in charge of preparing the corporate accounting documents at Poste Italiane, Alessandro Del Gobbo, declares that the accounting information contained herein corresponds to document results and accounting books and records.

This presentation includes summary financial information and should not be considered a substitute for Poste Italiane's full financial statements.

Numbers in the document may not add up only due to roundings.

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POSTE ITALIANE

2024 - 2028 STRATEGIC PLAN

THE CONNECTING PLATFORM

ROME, 20 MARCH 2024

Matteo Del Fante

CEO

C H I E F E X E C U T I V E O F F I C E R

POSTE ITALIANE: THE CONNECTING PLATFORM

Italy's largest phygital platform

Committed to serve the country's largest client base catering for everyday and long-term needs

Supporting Italy's socio-economic development

and creating value for all stakeholders

Highly predictable financial returns

13k

51k

c.23m

35m

45m

€76bn

+3%2+4%3

2023-28	2023-28
REVENUES CAGR	EBIT CAGR

POST OFFICES

THIRD-PARTY

NETWORKS

DAILY PHYGITAL INTERACTIONS

FINANCIAL

CLIENTS

TOTAL

CLIENTS1

IMPACT ON GDP

(2018-23)

≥€6.5bn

2024-28 CUMULATED

DIVIDEND

1. Including clients with non-financial products (utilities) and digital IDs; 2. 2023 numbers exclude sennder and Covid logistics mandate for the computation of the CAGR; 3. Excluding systemic charges related to insurance guarantee	6
fund, on average c.80m per annum over the plan period

C H I E F E X E C U T I V E O F F I C E R

CONTENTS

ACHIEVEMENTS

STRATEGIC FOUNDATIONS

FINANCIAL TARGETS AND SHAREHOLDERS' REMUNERATION

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C H I E F E X E C U T I V E O F F I C E R	Achievements

OVERDELIVERING UNDER DIFFERENT MARKET ENVIRONMENTS

CONSISTENTLY BEATING TARGETS WHILE DRIVING SUSTAINABLE RETURNS

Strategic foundations

Financial targets

€bn unless otherwise stated	Impacted by Covid-19

	2017	2018	2019	2020	2021	20221	2023
REVENUES2	10.57	10.82	10.96	10.53	11.22	11.37	11.99
EBIT	1.12	1.50	1.77	1.52	1.85	2.40	2.62
NET	0.69	1.40	1.34	1.21	1.58	1.58	1.93
PROFIT3
							Proposed
DPS (€)	0.42	0.44	0.46	0.49	0.59	0.65	0.80
Achieved	Overachieved

1. 2022 numbers are restated for IFRS17 2. Revenues exclude commodity price and pass-through charges related to the energy business. 2017-'19 revenues are restated net of interest expenses and capital losses on investment portfolio;

3. 0.76bn excluding write-off of 0.07bn for 2017; 1.01bn excluding positive tax one-offs of 0.39bn for 2018; 1.23bn excluding SIA stake revaluation and positive tax one-offs of 0.11bn for 2019; 1.11bn excluding positive tax one-offs of 0.1bn	8
for 2020; 1.33bn excluding Nexi stake revaluation and positive tax one-offs of 0.25bn for 2021

C H I E F E X E C U T I V E O F F I C E R

€6BN1 CUMULATED DIVIDENDS PAID SINCE 2016

TRACK RECORD OF IMPROVED DIVIDEND POLICY - 2X 2016 DPS

€ unless otherwise stated

Achievements

Strategic foundations	Financial targets

Increase vs initial targets	Initial targets
								Proposed
					+11%		+23%
					+10%	0.80
					+5%	+20%		0.18
	+8%	+5%	+5%		0.59	0.65
			0.06
					0.49	0.04
			0.44	0.46
	0.42
0.39
						0.55	0.59	0.62
2016	2017		2018	2019	2020	20212	20223	20234

DPS revised upwards since

2021 driven by:

• Strong financial performance
• Increased visibility and sustainability of cash & capital generation

Total Shareholder Return since Poste Italiane IPO5

Poste Italiane: +178%

FTSE MIB: +103%

1. Includes final installment of 2023 dividend to be paid, following AGM approval, in June 2024; 2. Initial target of 0.55 published for 24SI (Mar-21);3. Initial target of 0.59 published for 24SI (Mar-21), first upgrade at 0.63 published for 24SI PLUS

(Mar-22);4. Initial target of 0.62 published for 24SI (Mar-21), first upgrade at 0.68 published for 24SI PLUS (Mar-22), second upgrade at 0.71 published for CMD 2023 (Mar-23);5. Data from 27 October 2015 to 15 March 2024

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C H I E F E X E C U T I V E O F F I C E R	Achievements	Strategic foundations Financial targets

KEY OPERATIONAL ACHIEVEMENTS SINCE 2017

SUCCESSFULLY REPOSITIONED OUR BUSINESS FOR SUSTAINABLE GROWTH AND PROFITABILITY

KPI

• Digitalisation and omnichannel approach to enhance customer experience
• Workforce transformation

Mail, Parcel & Distribution - Building an E2E logistics operator for a sustainable business

• From Mail to leading Parcel operator, supported by largest PUDO network (28k)1
• Entered the contract logistics market
• Breakeven achieved in 2023, ahead of guidance

Financial Services - Italy's most trusted financial institution with an omnichannel approach

• Proactive investment portfolio management delivering results in different rate environments
• Controlled open omnichannel platform for insurance, savings, investments and lending

● Continuous strengthening of client coverage

Insurance Services - A fully-fledged and resilient insurance company

• Positive net flows in Life business in different market environments
• Growth in Protection and third-party distribution, boosted by Net Insurance

● Strong capital position - successfully reduced Solvency II sensitivity

Postepay Services - The largest ecosystem for everyday needs with payments at its core

• Largest payments player in Italy with 30m cards, 10m IBAN-backed Evolution cards
• Unmatched payment ecosystem completed with Telco and Energy offer

● LIS integration and successful launch of Energy business

2017 2023

113m 256m

# yearly parcels

(0.5) (0.0)

MP&D EBIT €bn

5022 581

TFA (€bn)

36 57

Retail deposits (€bn)3

1152160

Life provisions (€bn)

210 809

Protection GWP (€m)

24 80

transaction value (€bn)4

0 c.500k

• energy contracts

1. Pick-up & Drop-off points, including Post Offices, lockers, Punto Poste and other Collection Points; 2. Restated for IFRS17; 3. Including Postepay; 4. Issuing

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