Telecom Italia Rsp

Board/Management Information • Feb 7, 2024

Press Release

TIM: THE BOARD MANDATES THE CHIEF EXECUTIVE OFFICER TO NEGOTIATE A NEW OFFER FOR SPARKLE WITH MEF

BOARD ACTIVITY IN VIEW OF THE PRESENTATION OF A MAJORITY LIST FOR THE RENEWAL OF THE BOD CONTINUES

Roma, 7 February 2024

TIM's Board of Directors, met today under the chairmanship of Salvatore Rossi, examined the offer received from the Ministry of Economy and Finance ("MEF") for the acquisition of Sparkle and, having considered it unsatisfactory, mandated the CEO, Pietro Labriola, to negotiate with MEF a different option, with possible adjustments to the contractual terms, in the assumption that TIM maintains a stake in the company for a certain period of time and supports the implementation of the strategic plan.

The Board also continued its activities in view of the presentation of a majority list for the renewal of the Board, which will take place at the Shareholders' Meeting called to approve the 2023 financial statements. As envisaged by the procedure approved last 18 January (available at www.gruppotim.it), the Chairman gave feedback on the preliminary engagement activities with the main shareholders, institutional investors and proxy advisors and he presented the proposal regarding the criteria for the selection of candidates which was unanimously approved by the Board of Directors.

TIM Press Office +39 06 36882610 https://www.gruppotim.it/media X: @GruppoTIM

TIM Investor Relations +39 06 36882500 https://www.gruppotim.it/investor\_relations