Poste Italiane

Investor Presentation • Mar 23, 2022

POSTE ITALIANE 2024 SUSTAIN & INNOVATE PLUS

A PLATFORM COMPANY AT WORK

ROME, MARCH 23, 2022

POSTE ITALIANE - 2024 SUSTAIN & INNOVATE PLUS ROME, MARCH 23, 2022 - AGENDA

12:00 - 12:45

Matteo Del Fante – CEO and GM

12:45 - 13:15

Camillo Greco - CFO

13:15 – 13:30

Matteo Del Fante - Closing Remarks

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 recent Covid-19 pandemic, and 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.

POSTE ITALIANE 2024 SUSTAIN & INNOVATE PLUS

A PLATFORM COMPANY AT WORK

ROME, MARCH 23, 2022

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

A PLATFORM COMPANY AT WORK

● CONSISTENT DELIVERY SINCE ²⁰¹⁷ WHILE REPOSITIONING THE BUSINESS ON ^A SUSTAINABLE GROWTH PATH

● ²⁰²¹ RESULTS AT THE UPPER END OF THE REVISED GUIDANCE AND ABOVE ²⁰¹⁹ - UPGRADED ²⁰²² GUIDANCE

● 24SI IMPLEMENTATION AHEAD OF SCHEDULE - UNMATCHED FINANCIAL STRENGTH TO WITHSTAND MARKET HEADWINDS

● 24SI PLUS BUILDING ON NEW VALUE CREATING INITATIVES AND UNRIVALLED OMNICHANNEL DISTRIBUTION PLATFORM

● ²⁰²¹ DPS INCREASED TO €0.59 (+21% Y/Y VS +14% ORIGINAL TARGET) AND IMPROVED DIVIDEND POLICY (+7% Y/Y OVER 24SI

VS +6% ORIGINAL TARGET)

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

ON A SUSTAINABLE GROWTH PATH SIGNIFICANT ACHIEVEMENTS FOR ALL STAKEHOLDERS SINCE 2017

2021 ACHIEVEMENTS RECORD HIGH FINANCIAL RESULTS - AT THE UPPER END OF REVISED GUIDANCE AND ABOVE 2019

€ bn unless otherwise stated

• Strengthened Mail & Parcel
• CDP Agreement reconfirmed until 2024
• Accelerated shift towards omnichannel platform
• Tech-enabled product offer

• New greenfield parcel hubs
• Nexive integration ahead of plan
• Financial & insurance new advisory model
• New wholesale telco contract providing efficencies

STRATEGIC OPERATIONAL FINANCIAL (vs. 2019)

• REVENUES: 11.2, +2%
• EBIT: 1.8, +4%
• NET PROFIT: 1.3¹ , +8%
• DPS: €0.59, + 27%

PROVEN TRACK RECORD CONSISTENTLY OVERDELIVERING TARGETS WHILE DRIVING SUSTAINABLE RETURNS

Revenues are presented net of interest expenses and capital losses on investment portfolio, previously booked as costs; 1. Positive tax one-offs; 2. SIA stake revaluation and positive tax one-offs; 3. Positive tax one-offs; 4. Nexi stake revaluation and positive tax one-offs. Nexi closing price of €13.99 per share as of 30/12/2021;

6

2017-2021 REVENUE EVOLUTION SUCCESFULLY REPOSITIONED TOWARDS GROWING MARKETS AND RECURRING REVENUES

1. Declining markets: mainly mail and payment slips; 2. Stable markets: telco, postal savings and asset management; 3. Growing markets: parcels, life insurance, P&C and payments;

4. Investment products, transaction banking, loans & mortgages, P&C 5. Recurring revenue not directly related to commercial activity

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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

24SI PLUS – ON A SUSTAINABLE GROWTH PATH KEY FACTORS SECURING 24SI EXECUTION AND FURTHER VALUE CREATING INITIATIVES

24SI FRAMEWORK NEW INITIATIVES

UNIVERSAL SERVICE AGREEMENT¹

Steady compensation over 24SI and key partnerships with PA

AMAZON¹

Balancing peak periods and urban vs rural areas deliveries

GROUP LABOUR CONTRACT¹

Visibility on HR costs over 24SI

POSTAL SAVINGS DISTRIBUTION

Increasing share of recurring management fees

TAX CREDIT PURCHASE Focusing on retail customers and diversifying investment portfolio

GREEN STRATEGY
Initiatives to accelerate transition
to carbon neutrality

STRATEGIC M&A

healthcare logistics

Paytech acquisition boosting omnichannel strategy – focus on

24SI IMPLEMENTATION POWERED BY POSTE'S PEOPLE: "INSIEME 24SI"

NEW POSTAL SAVINGS DISTRIBUTION AGREEMENT REMUNERATION SCHEME TO PROVIDE INCREASING SHARE OF RECURRING FEES

Highlights

• New postal savings distribution agreement until 2024 at the core of Poste Italiane's financial offer
• New remuneration scheme supports 24SI implementation in a more sustainable way – EBIT contribution in line with original targets
• Remuneration composed by both upfront and "running" management fees with the latter increasing over time
• Interest accrual to uphold postal savings' stock at current levels over time, despite negative inflows

10

UNRIVALLED OMNICHANNEL DISTRIBUTION PLATFORM UNMATCHED PHYSICAL AND DIGITAL FOOTPRINT INTEGRATION TO ENABLE OMNICHANNEL INTERACTION

11

Daily interactions handled by the Poste Italiane platform c.20m

1. Post offices and PuntoPoste

A PLATFORM COMPANY LEVERAGING ON NEW CHANNELS FOCUSING ON INTERACTIONS TO SUPPORT REVENUE GROWTH

1. Daily observations weighted on the different channels' operability as of Jan-22; 2. Digital & B2B2C channels; 3. New channel revenues refer to Digital & B2B2C addressable markets only, excluding recurring revenues from TFA's management and those related to public tender contracts

*The shares of interactions, transactions and revenues on new channels are evaluated on an annual base

PAYTECH CHAMPION ACQUISITION BOOSTING OMNICHANNEL STRATEGY STRENGHTENED POSTEPAY LEADERSHIP IN DIGITAL & PROXIMITY PAYMENTS – EXPANDING HYBRID LEAD GENERATION

1. Transactions from B2B2C network mostly constituted by LIS

TAX CREDIT – AN INCREMENTAL INVESTMENT OPPORTUNITY ADDITIONAL LEVER TO MAXIMIZE NET INTEREST INCOME

• Change in law allowing retail deposits to be invested in tax credits starting from H2-21
• Significant deposits inflows supported large tax credits purchases
• Tax credit purchase included within Poste Italiane's comprehensive retail product offer
• Law allowing for a cash investment up to €9.5bn
• Purchases driven by interest rates environment, with €20m additional NII for each billion euro stock at current yields and flat deposits

GREEN STRATEGY TRANSITION JOURNEY TOWARDS CARBON NEUTRALITY

ESG STRATEGY UPDATE KEY ACHIEVEMENTS ACROSS THE 8 STRATEGIC PILLARS

Support for local communities and the country

• 30m vaccine doses delivered across Italy
• 40m vaccine bookings through IT platform (8 regions)

Equal opportunities & people development

• >24m¹training hours of which 80% delivered remotely
• Opening of Poste Centro Medico for employees with 13 areas of medical expertise
• -7%²work-related accident frequency rate

Customer protection and satisfaction

• 82% customer satisfaction (+2%³ )
• 7.9k financial advisors, 100% ISO 22222 compliant⁴

Integrated compliance and risk management

• ISO 20400 certification on sustainable procurement
• Developed ESG model rating suppliers
• Integrated compliance for centralized risk management

Reduced emissions in real estate & logistics

• 10k low emissions postini vehicles
• 650 premises involved in Smart Building project
• Over 500k LED lights installed

ESG criteria integrated within traditional investment processes

• 42% of retail mutual funds integrating ESG criteria
• 50% of Poste Vita products with ESG elements
• 15% of Poste Vita and 15% of BancoPosta AuM invested in EU Taxonomy eligible economic activities

1. Cumulated since 2017 (20m hours since 2018); 2. 2020 Baseline; 3. 2018 Baseline ; 4. UN Standard on personal financial planning.

BETTER POSITIONED TO WITHSTAND MARKET HEADWINDS AN ANTI-FRAGILE PLAYER – UNCHANGED SECULAR MARKET TRENDS UNDERPINNING 24SI

P OT E N T I A L R I S K FA C TO R S

K E Y M I T I G AT I N G FA C TO R S

CONFLICT IN EASTERN EUROPE Negligible Russia and Ukraine direct exposure

INCREASED MARKET VOLATILITY

Safe harbour products for customers, 93% of TFAs not exposed to market fluctuations

PERSISTING INFLATION

Non-HR costs: jet fuel and corporate energy costs hedged until December 2022

PROVEN RESILIENCE AND FLEXIBILITY, INCLUDING COST MANAGEMENT

€ bn unless otherwise stated	2021	2022 Original 24SI target2	2022 GUIDANCE UPGRADE3	2022 GUIDANCE UPGRADE VS. ORIGINAL 24SI TARGET
REVENUES	11.22	11.6	11.7	+1%
EBIT	1.85	1.9	2.0	+9%
NET PROFIT	1.331	1.3	1.4	+9%

TAX CREDIT AND COST MANAGEMENT TO PROVIDE €0.2BN EBIT UPSIDE IN 2024

1. Excluding Nexi stake revaluation (closing price of €13.99 per share as of 30/12/2021) and positive tax one-offs; 2. Announced in March 2021; 3. LIS and Plurima contributions to be included at closing

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KEY 2021 DIVISIONAL ACHIEVEMENTS

P O S T E I T A L I A N E

UNRIVALLED OMNICHANNEL DISTRIBUTION PLATFORM

MAIL & PARCEL

Accelerating the path to become a fully-fledged logistics operator

• 3 fully operational automated parcel hubs
• Developing high-growth verticals also through M&A

Fully-automated parcel hubs	3
Daily automated parcel capacity	2x vs 2019

FINANCIAL & INSURANCE PAYMENTS & MOBILE

New service model to meet evolving clients' needs

• Balancing investments and capital guaranteed products
• Strong GWP growth, to become a fully fledged insurance company

TFA (€)	586bn (+3.1% Y/Y)
Multiclass GWP (%)	58%

Boosting Group's omnichannel strategy

• Highly profitable business supported by steadily growing digital payments
• Resilient telco customer base with low churn rate

Card transactions (#)	2bn (+29% Y/Y)
Mobile & land-line stock (#)	4.7m

FROM A MAIL TO A PARCEL PLAYER TO A FULLY FLEDGED LOGISTIC OPERATOR EVOLUTION OF A TRANSFORMATIONAL JOURNEY

From a mail to a parcel operator

• Entering the B2C market leveraging on the Joint Delivery Model (JDM) for Mail and Parcel
• Fully operational automated parcel hubs supporting B2C leadership

Revenue quality to support margins

• Developing excellence on profitable segments
• Punto Poste network value as a diversification and cost opportunity driver

Fully fledged logistics operator

• Contract logistics strategy rollout
• M&A to accelerate the vision

HEALTHCARE LOGISTICS TO PROVIDE SYNERGIES AND FURTHER POSITION POSTE ITALIANE AS TRUSTED PARTNER OF THE ITALIAN HEALTHCARE SYSTEM

PUBLIC HEALTHCARE SECTOR SUPPORT

• Leveraging on Poste Italiane's key role in the healthcare space during the pandemic and unrivalled network and real estate footprint

DIVERSIFY IN A SPECIALISED BUSINESS

• Consolidating a competitive advantage in healthcare logistics, thanks to Plurima's expertise and reputation
• Developing integrated healthcare warehousing and distribution solutions to improve end-to-end efficiency and competitiveness

NEW MARKET OPPORTUNITIES

• Arising from the increasing relevance of local health authorities (Plurima's key customers) in providing health services

A COMPETITIVE ADVANTAGE, BUILT DURING THE PANDEMIC, TO ACHIEVE LEADERSHIP IN HEALTH LOGISTICS

MORE VOLUMES, BETTER QUALITY - INVESTING IN PEOPLE FINANCIAL ADVISORS EVOLUTION TO SUPPORT SERVICE MODEL UPGRADE

1. Including Premium advisors; 2. Clients covered by a dedicated Financial Advisor; TFA of retail clients perimeter (premium, private, affluent, mass and lower mass)

€ bn unless otherwise stated

1. Liquidity: deposits (not including Repo and Poste Italiane liquidity) and postal savings books; Capital guaranteed: postal bonds, time deposit postal books, class I-IV; Investment: class III, multiclass, mutual funds and assets under custody; 2. Includes TFA from non retail Clients and non-Client-driven TFA, including unrealized capital gains on investments underlying Class I life insurance products

24

POSTE PREMIUM – MORE VOLUMES, BETTER QUALITY A FEE BASED SERVICE FOR PRIVATE CLIENTS

● Service model:

Highlights

• 1. dedicated offer in line with best market practices
• 1. maximum flexibility in meeting customers
• 1. state of the art advisory platform
• Identifying new Premium clients: more than 60% of new Premium clients from our affluent, lower affluent and mass market client base
• Extended clients' coverage: more than 200 dedicated Premium financial advisors

LIFE INSURANCE - SUSTAINABLE AND PROFITABLE MIX STRONG INFLOWS AND VOLUME GROWTH SUPPORTING INCREASING PROFITABILITY

revenues %

€ bn unless otherwise stated

1. Mathematical provisions Eop data: 134 as of Dec-20, 144 as of Dec-21; 2. Investment margin on new business over 24SI horizon; 3. Of which 5 bp market effect

NON-LIFE INSURANCE –BUILDING A FULLY FLEDGED & PROFITABLE BUSINESS GROWING MODULAR OFFER AND HEALTH INSURANCE

1. Includes third party motor offer and life protection GWP; 2. Market share on Retail GWP's through bancassurance channel, excluding premiums relating to corporate market; 3. Claims on full time equivalent people of Poste Assicura and Poste Welfare Servizi

PAYMENTS & MOBILE: AT THE CORE OF GROUP OMNICHANNEL STRATEGY PROFITABLE BUSINESS MODEL WITH A STEEP GROWING TRAJECTORY

ENERGY UPDATE 2022

KEY MESSAGES & NEXT STEPS

• All authorizations obtained, mandatory contracts¹ to operate in the market chain already subscribed and ready to go
• Platform delivered, with beta testers onboarded and active
• Market liberalization postponed up to January 2024 ENERGY 0.6
  • Mass market launch forecasted by late 2022
  • Monitoring market evolution to hit the right market window to launch the new initiative
  • Ambitions confirmed in terms of 100% green energy, volumes and growth
  • Start up costs: €16m in 2021

SHAREHOLDERS' REMUNERATION

UPGRADED DIVIDEND POLICY: 2021 DPS +21% Y/Y, +7% YEARLY GROWTH OVER 24SI PLAN HORIZON

1. 2021 payout calculated on underlying net profit of €1.33bn (excluding the revaluation in Nexi's stake of €0.2bn - closing price of €13.99 per share as of 30/12/2021- and positive tax-offs)

POSTE ITALIANE 2024 SUSTAIN & INNOVATE PLUS

A PLATFORM COMPANY AT WORK

ROME, MARCH 23, 2022

Camillo Greco, CFO

PROVEN TRACK RECORD CONSISTENTLY OVERDELIVERING TARGETS WHILE DRIVING SUSTAINABLE RETURNS

Revenues are presented net of interest expenses and capital losses on investment portfolio, previously booked as costs; 1. Positive tax one-offs; 2. SIA stake revaluation and positive tax one-offs; 3. Positive tax one-offs; 4. Nexi stake revaluation and positive tax one-offs. Nexi closing price of €13.99 per share as of 30/12/2021;

2

2022 GUIDANCE UPGRADE – BASED ON AN UNAFFECTED MARKET SCENARIO STRONG 2021 RESULTS UNDERPINNING 2022 GUIDANCE UPGRADE

€ bn unless otherwise stated	2021	2022 Original 24SI target2	2022 GUIDANCE UPGRADE3	2022 GUIDANCE UPGRADE VS. ORIGINAL 24SI TARGET
REVENUES	11.22	11.6	11.7	+1%
EBIT	1.85	1.9	2.0	+9%
NET PROFIT	1.331	1.3	1.4	+9%

TAX CREDIT AND COST MANAGEMENT TO PROVIDE €0.2BN EBIT UPSIDE IN 2024

1. Excluding Nexi stake revaluation (closing price of €13.99 per share as of 30/12/2021) and positive tax one-offs; 2. Announced in March 2021; 3. LIS and Plurima contributions to be included at closing

MAIL, PARCEL & DISTRIBUTION 2021 STRONG PERFORMANCE - POSITIVE PROFITABILITY BY 2024, AHEAD OF SCHEDULE

SEGMENT REVENUES Distribution Revenues² 4.7 4.6 Mail Parcel & logistics Other¹ ● 2021 Mail volumes EBIT otherwise stated HIGHLIGHTS 4.7 4.9 2.46 1.90 2.08 2.1 0.85 1.16 1.40 1.5 0.20 0.18 2019 2022 0.14 2020 0.1 2021 3.49 3.20 3.69 3.8 +0.48 +15% (0.35) (0.59) (0.31) (0.2) 0.1 2019 2020 2021 2022 2024 +0.28 +48% 3.7 original 24SI target (0.3) original 24SI target Incl. 0.15 Nexive

• supported by Nexive integration and volumes rebound – resilient contribution expected in 2022
• Record high 2021 parcel revenues – 2022 growth confirmed within 24SI framework in a "new normal" environment
• Distribution revenues supported by higher value added product distribution
• Successful industrial transformation and cost discipline underpinning sustainable, positive EBIT from 2024 – anticipating 24SI original target

Figures presented consistent with 24SI perimeter

€ bn unless

1. Includes Philately, Patenti Via Poste, Poste Motori, Poste Air Cargo, tax credit contribution and vaccination plan related expense recovery 2. Includes income received by Other Segments in return for use of the distribution network and Corporate Services

MP&D: POSITIVE PROFITABILITY BY 2024 – AHEAD OF SCHEDULE ACCELERATED INDUSTRIAL TRANSFORMATION

FINANCIAL SERVICES HIGHER RATES AND TAX CREDITS TO DELIVER HIGHER QUALITY CONTRIBUTION FROM INVESTMENT PTF

Figures presented consistent with 24SI perimeter

1. Including intersegment distribution revenues 2. Including revenues from payment slips (bollettino), banking accounts related revenues, fees from INPS and money transfers, Postamat; 3. Including revenues from custody accounts, credit cards, other revenues from third party products distribution.

● Resilient NII thanks to higher deposits and

• contribution from tax credits in 2021 enabling target upgrade over 24SI horizon
• Expected higher quality contribution from investment portfolio, with higher rates and tax credits
• Postal savings fees improving mix thanks to recurring management fees
  • EBIT contribution in line with 24SI
• Transaction banking fees impacted by structural decline in payment slips
• EBIT mirroring higher intersegment costs remunerating an enhanced distribution network

C H I E F F I N A N C I A L O F F I C E R

FLEXIBLE INVESTMENT STRATEGY IN EVOLVING MARKET CONDITIONS HIGHER RATES EXPECTED TO INCREASE NII CONTRIBUTION OVER 24SI

€ bn unless otherwise

Investment portfolio¹ 1.47 1.54 1.59 1.55 1.49 1.5 1.2 0.53 0.38 0.34 0.37 0.41 0.4 0.3 0.8% 1.6% 1.1% 0.6% 0.1% 0.3% 0.8% 3.6% 3.3% 3.1% 2.8% 2.4% 2.3% 1.9% -1.30% 0.70% 2.70% 4.70% 6.70% 8.70% 2017 2018 2019 2020 2021 2022 2024 55.8 58.8 62.0 67.5 79.2 81.4 82.5 REVENUES FROM INVESTMENT ACTIVITY Net interest income Active portfolio management Yield² 5-year BTP Yield 10Y IRS (bps) 20 79 stated

SPREAD (bps) 80 90

HIGHLIGHTS

• Effective portfolio management ensuring returns above market yields
• Investment in tax credits providing greater active portfolio management flexibility in a low interest rate environment
• Active portfolio management contribution entirely secured for 2022 and part of 2023
• New projections resulting in +0.3 higher NII in 2022 (o.w. 0.2 tax credit) and +0.2 higher NII in 2024 (o.w. 0.2 tax credit) compared to 24SI original target

Figures presented consistent with 24SI perimeter

10Y BTP-SWAP

1. Annual average, includes Public Administration deposits with the Ministry of Economy and Finance and tax credits; 2. Return including the contribution from active portfolio management; calculated on average bond portfolio

€ bn unless

Target

8

SENSITIVITY ANALYSIS – INVESTMENT PORTFOLIO CONTRIBUTION REVENUE TARGETS TO BE MET UNDER ALL ASSUMED SCENARIOS

INSURANCE SERVICES FULLY FLEDGED PRODUCT OFFERING CONFIRMING AMBITIOUS TOP LINE GROWTH

HIGHLIGHTS

• 2021 strong positive performance driven by successful commercial focus on multiclass products in a favourable market environment – ambitious 2022 plan targets confirmed
• P&C growth expected to continue, contributing to revenue diversification
• EBIT and net profit up, outpacing higher intersegment costs remunerating an enhanced distribution network

Figures presented consistent with 24SI perimeter

1. Includes Private Pension Plan (PPP) 2. Includes Poste Insurance Broker (PIB) net of claims, Poste Welfare Servizi (PWS) restated in line with 24SI perimeter 3. Net of reinsurance

INSURANCE SERVICES DIVERSIFIED INVESTMENT MIX TO SUPPORT ASSET RETURN

1. Segregated fund: Poste Valore Più, >90% of Class I reserves; 2. As of year-end, excluding cash

SOLVENCY CAPITAL CONFIRMED >200% MANAGERIAL AMBITION THROUGH THE CYCLE

24SI original guidance reaffirmed

1. Excluding Sovency II transitional measures; 2. Net of foreseeable dividends on FY21 profit and subject to review by the Independent Auditor

PAYMENTS & MOBILE OMNICHANNEL STRATEGY DRIVING INCREASING EXPOSURE TO FAST GROWING PAYMENTS MARKET

€ bn unless otherwise stated

• All business lines boosting revenue growth in 2021
• 2021intersegment revenue decrease more than offset by successful digital payments strategy
• Telco revenues up supported by a wider customer base – resilience expected in 2022
• Enhanced leadership in payments expected to further support growth
• 2021 EBIT up while absorbing € 16m energy business start-up costs
• EBIT further up in 2022 more than offsetting traditional payments decline and energy business start-up costs

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LIS ACQUISITION ACCELERATING THE OMNICHANNEL STRATEGY AT THE HEART OF THE 24SI PLAN

• PostePay driving Group's omnichannel strategy
• Hybrid strategy integrating an unrivaled post office, digital channels and third party network

• Active in the Italian proximity payment market through nearly 54,000 affiliated points of sale
• Offers services including bill payments, prepaid payment cards, telco and evouchers top-ups and merchant and enterprise service solutions
• Relies on a proprietary paytech platform, enjoying internal scale, technology and capabilities

2021 Financials

€m

Gross revenues	228
Net revenues	98
adj. EBITDA	42
adj. EBIT	28

LIS The transaction

• PostePay to acquire 100% of LIS for a total consideration of €700 million (Enterprise value €630m)
• Closing expected in 3Q 2022

The transaction

• Further develops the integrated omnichannel strategy of the 24SI plan
• Accelerates the transition towards cashless payments
• Consolidates PostePay growth in the proximity payment business
• Strengthens SME product offering
• Expands the acquiring business

AVERAGE WORKFORCE EVOLUTION (#, k)

HUMAN CAPITAL ANTICIPATED FTE REDUCTION SUPPORTED BY FAVOURABLE REGULATION – TARGETS UPGRADED

C H I E F F I N A N C I A L O F F I C E R

ORDINARY HR COSTS/REVENUES DOWN 8 P.P. SINCE 2017 LOWER FTEs COMPENSATING HIGHER SALARIES – VISIBLE COST BASE FOR 2022

Figures presented consistent with 24SI perimeter 1. Excluding legal disputes with employees; 2. 2017, 2018, 2019 and 2020 including Nexive

15

C H I E F F I N A N C I A L O F F I C E R

NON-HR COSTS SIGNIFICANT INDUSTRIAL TRANSFORMATION – TOTAL COSTS INCREASE TO SUPPORT BUSINESS GROWTH

Figures presented consistent with 24SI perimeter

1. 2017 and 2018 pro forma including Nexive and IFRS 16; 2019 and 2020 proforma including Nexive. Excluding COVID-19 related expenses in 2020 and 2021 2. Excluding costs for 106m in 2020 and 85m in 2021 to face the emergency

MANAGEABLE EXPOSURE TO INFLATION – MITIGANTS ALREADY ACTIVATED CURRENT INFLATIONARY PRESSURES ON COSTS EMBEDDED IN 2022 GUIDANCE

C H I E F F I N A N C I A L O F F I C E R

SOLID CAPITAL GENERATION & EFFICIENT ALLOCATION RETAINING FURTHER FLEXIBILITY TO SUPPORT BUSINESS GROWTH

2020 and 2021, €1.3bn in 2022) 4. Excluding participation in non-segment companies and including non distributed reserves

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C H I E F F I N A N C I A L O F F I C E R

MAIL, PARCEL & DISTRIBUTION NET FINANCIAL POSITION

STRONG NFP AND EARNINGS GENERATION TO FINANCE 2022 DIVIDENDS AND INORGANIC GROWTH

Net financial position excluding IFRS 16 IFRS 16

1. 2020 figure has been restated following a reclassification related to tax credits 2. net of €350m downstreamed to BancoPosta

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

ICT¹

Real estate

C H I E F F I N A N C I A L O F F I C E R

GROUP MAIN SHAREHOLDINGS KEY PARTNERS SUPPORTING GROWTH, EMBEDDING POTENTIAL UPSIDE

management

• 1. On a fully diluted basis, including impact of employee stock option plan and other dilutive instruments
• 2. Based on daily closing stock price of 16 March 2022 3. 24.5% of voting rights

21

POSTE ITALIANE 2024 SUSTAIN & INNOVATE PLUS

A PLATFORM COMPANY AT WORK

ROME, MARCH 23, 2022

Matteo Del Fante, CEO

REWARD STRATEGY INTEGRATING FINANCIAL AND ESG TARGETS – COMMITMENT TO GENDER DIVERSITY REMUNERATION POLICY TO SUPPORT SUSTAINABLE VALUE CREATION

STRONG COMMITMENT TO PROMOTE GENDER DIVERSITY, STARTING WITH SUCCESSION PLANS

A PLATFORM COMPANY AT WORK

• CONSISTENT DELIVERY SINCE 2017 WHILE REPOSITIONING THE BUSINESS ON A SUSTAINABLE GROWTH PATH
• 2021 RESULTS AT THE UPPER END OF THE REVISED GUIDANCE AND ABOVE 2019 UPGRADED 2022 GUIDANCE
• 24SI IMPLEMENTATION AHEAD OF SCHEDULE UNMATCHED FINANCIAL STRENGTH TO WITHSTAND MARKET HEADWINDS
• 24SI PLUS BUILDING ON NEW VALUE CREATING INITATIVES AND UNRIVALLED OMNICHANNEL DISTRIBUTION PLATFORM
• 2021 DPS INCREASED TO €0.59 (+21% Y/Y VS +14% ORIGINAL TARGET) AND IMPROVED DIVIDEND POLICY (+7% Y/Y OVER 24SI
  • VS +6% ORIGINAL TARGET)

58

F I N A N C I A L S E R V I C E S

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

posteitaliane.it