TIM: Board of Directors approves financial report at...

■ Revenues at €15.3 billion (-1.9% YoY organic)

■ Organic EBITDA down to €6.2 bln (-9.6% YoY) due to competitive pressure, the delay in the voucher scheme and start-up costs for digital companies

■ Net Financial Debt After Lease: €17.6 bln, down by €1 bln YoY despite higher investments (+14.1% YoY) to speed up the deployment of fiber, cloud and football streaming

■ Net result attributable to the owners of the parent was negative for 8.7 billion, after the impairment of domestic goodwill for €4.1 billion and writing off deferred tax assets amounting to €3.8 billion euros. Both items are Non Cash Items

■ The Italian Competition Authority has approved undertakings relating to the agreements between TIM, KKR and Fastweb to set up FiberCop, which in 2021 increased FTTH coverage by 36%. The TIM Group brought ultrabroadband to around 94% of fixed lines

■ All ESG objectives met

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Roma, 2 March 2022