Poste Italiane S p A : Annual financia report 2022 (file

ANNUAL

REPORT

2022

Traslation from the Italian original which remains the definitive version.

Report on Operations

AT 31 DECEMBER 2022

Annual Report 2022
Poste Italiane Group
Table of contents
REPORT ON OPERATIONS AT 31 DECEMBER 2022
1.INTRODUCTION	4
STATEMENT FROM THE CHAIRWOMAN AND THE CHIEF EXECUTIVE OFFICER	4
PRESENTATION OF THE INTEGRATED REPORT	6
2. HIGHLIGHTS	9
2.1 OUTCOMES OF THE VALUE CREATION PROCESS AT POSTE ITALIANE	9
2.2 IMPACTS GENERATED BY POSTE ITALIANE	12
2.3 CREATING SHARED VALUE TO ACHIEVE THE SDGs	17
3. OUTLOOK	19
4. BUSINESS MODEL	21
4.1 POSTE ITALIANE'S OWNERSHIP AND ORGANISATIONAL STRUCTURE	21
4.2 POSTE ITALIANE'S BUSINESS MODEL	25
4.3 GROUP STRUCTURE	33
4.4 OMNICHANNEL APPROACH AND GROUP OPERATING SEGMENTS	41
5.STRATEGY	84
5.1 INTEGRATING SUSTAINABILITY WITHIN POSTE ITALIANE'S STRATEGY	85
5.2 POSTE ITALIANE'S SUSTAINABILITY STRATEGY	87
5.3 POSTE ITALIANE'S SUSTAINABILITY PATH	101
6. RISKS AND OPPORTUNITIES	107
6.1 POSTE ITALIANE'S CORPORATE GOVERNANCE	108
6.2 POSTE ITALIANE'S INTEGRATED INTERNAL CONTROL AND RISK MANAGEMENT SYSTEM	111
6.3 RISKS ASSOCIATED WITH MATERIAL TOPICS AND MANAGEMENT METHODS	118
6.4 POSTE ITALIANE'S COMMITMENT TO MANAGING HUMAN RIGHTS RISKS	125
6.5 MANAGING CLIMATE CHANGE RELATED RISKS AND OPPORTUNITIES	131
6.6 MANAGING EMERGING RISKS AND THE RELATED OPPORTUNITIES	139
7.CREATION OF VALUE	154
7.1 PERFORMANCE OF POSTE ITALIANE SHARES	154
7.2 IMPACTS RESULTING FROM THE RUSSIAN-UKRAINIAN CONFLICT	156
7.3 GROUP OPERATING RESULTS	158
7.4 DIGITAL AND THIRD-PARTY NETWORKS IN THE GROUP'S OMNICHANNEL STRATEGY	194
7.5 GROUP CAPITAL MANAGEMENT FRAMEWORK	197
7.6 GROUP FINANCIAL POSITION AND CASH FLOW	199

7.7 PERFORMANCE OF POSTE ITALIANE S.P.A. AND REPORT ON OPERATIONS OF BANCOPOSTA RFC

.............................................................................................................................................................................. 206

7.8 THE ESG VALUE	220
7.9 INTEGRITY AND TRANSPARENCY	220
7.10 PEOPLE DEVELOPMENT	240
7.11 DIVERSITY AND INCLUSION	281
7.12 CREATING VALUE FOR THE COUNTRY	297
7.13 GREEN TRANSITION	318
7.14 CUSTOMER EXPERIENCE	338
7.15 INNOVATION	353

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2022 Annual Financial Report
Poste Italiane Group	Report on Operations at 31 December 2022
7.16 SUSTAINABLE FINANCE	373
7.17 INDICATORS TABLES	386
8. PROPOSED SHAREHOLDER RESOLUTIONS AND OTHER INFORMATION ....	435
8.1 PROPOSED SHAREHOLDER RESOLUTIONS	435
8.2 OTHER INFORMATION	435
9. CONSOLIDATED NON-FINANCIAL STATEMENT	448
9.3 TABLE OF CONTENTS GRI-STANDARDS	468
10. GLOSSARY	493
1. INTRODUCTION	504
2. BASIS OF PREPARATION AND SIGNIFICANT ACCOUNTING POLICIES	505
3. MATERIAL EVENTS DURING THE YEAR	550
4 POSTE ITALIANE GROUP FINANCIAL STATEMENTS AT 31 DECEMBER 2022 . 554
638
5. POSTE ITALIANE SPA Financial Statements AT 31 DECEMBER 2022	638
6. RISK MANAGEMENT	716
7. FAIR VALUE OF FINANCIAL INSTRUMENTS	758
8. HEDGING TRANSACTIONS	765

9. PROCEEDINGS PENDING AND PRINCIPAL RELATIONS WITH THE AUTHORITIES 771

10. MATERIAL NON-RECURRING EVENTS AND/OR TRANSACTIONS	779
11. EXCEPTIONAL AND/OR UNUSUAL TRANSACTIONS	779
12. MATERIAL EVENTS AFTER THE END OF THE REPORTING PERIOD	779
13. ADDITIONAL INFORMATION	780
14. BANCOPOSTA RFC SEPARATE REPORT FOR THE YEAR ENDED 31
DECEMBER 2022	802

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