Poste Italiane

Investor Presentation • Feb 21, 2025

POSTE ITALIANE THE CONNECTING PLATFORM

FY-24 PRELIMINARY RESULTS & 2025 STRATEGY UPDATE

21 FEBRUARY 2025

2024 PRELIMINARY RESULTS AND 2025 STRATEGY UPDATE AGENDA

14:30 - 15:00 – Achievements and 2025 Strategy Update Matteo Del Fante – CEO

15:00 – 15:20 – Financial Highlights

Camillo Greco – CFO

15:20 – 15:30 Closing Remarks

Matteo Del Fante – CEO

15:30 Q&A Session

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 ongoing conflict.

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 document includes preliminary results and forward-looking statements that are not a guarantee of future performance as well as summary financial information that 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 THE CONNECTING PLATFORM

FY-24 PRELIMINARY RESULTS & 2025 STRATEGY UPDATE

21 FEBRUARY 2025

Matteo Del Fante CEO

EXECUTIVE SUMMARY

UNMATCHED ITALIAN PLATFORM COMPANY DELIVERING SUSTAINABLE REVENUE AND PROFITABILITY GROWTH

2024 RECORD ADJUSTED EBIT¹ AT €2.96BN, c.3X 2017 LEVEL

NET INCOME AT €2.01BN, 2 YEARS AHEAD OF PLAN² AND IN LINE WITH UPDATED GUIDANCE

• 2024-2028 STRATEGIC PLAN "THE CONNECTING PLATFORM" KEY INITIATIVES FULLY ON TRACK
• GROWTH TRAJECTORY CONFIRMED FOR 2025 GUIDANCE OF €3.1BN ADJUSTED EBIT¹ AND €2.1BN NET INCOME

DIVIDEND POLICY FURTHER UPGRADED, PAY-OUT INCREASED FROM ≥65% TO 70%, BACKED BY STRONG VISIBILITY ON CASH FLOWS AND GROUP CAPITAL OPTIMIZATION. 2024-28 CUMULATED DIVIDEND OF c.€7.5BN

● PROPOSED FY-24 DPS OF €1.08 (+35% Y/Y), €1.4BN TOTAL 2024 DIVIDEND – BALANCE OF €0.75 P/S (€0.97BN TOTAL) TO BE PAID IN JUNE 20253

1. Adjusted excluding systemic charges related to insurance guarantee fund (€74m p.a. for 2024 and 2025) and costs and proceeds of extraordinary nature (€341m for 2024 of extraordinary costs related to tax credit Voluntary Risk Assessment "VRA"); 2. 2024-2028 Strategic Plan "The Connecting Platform" presented in March 2024; 3. Ex dividend date 23 June 2025

CONTENTS

POSTE ITALIANE: THE CONNECTING PLATFORM

1. Includes direct and indirect employment; 2. % of the population within 5 min. (or 2.5km) of a Pick-Up & Drop-off point (incl. Post Offices); 3. 2017 numbers reported according to IFRS4; 4. Adjusted excluding systemic charges related to insurance guarantee fund (€74m for 2024) and costs and proceeds of extraordinary nature (€341m for 2024 of extraordinary costs related to tax credit Voluntary Risk Assessment "VRA")

2024 ADJUSTED EBIT¹ c.3X 2017 EBIT – NET PROFIT 2 YEARS AHEAD OF PLAN²

STRONG ADJUSTED EBIT GROWTH DRIVEN BY STEADY REVENUE PROGRESSION AND OPERATING LEVERAGE

€bn unless otherwise stated

	2017	2023	2024	2017-24 CAGR
REVENUES3	10.57	11.99	12.59	+3%
ADJUSTED EBIT1	1.12	2.62	2.96	+15%
NET PROFIT	0.69	1.93	2.01	+17%
DPS (€)	0.42	0.80	1.08	Proposed +14%

2017 numbers reported according to IFRS4; 1. Adjusted excluding systemic charges related to insurance guarantee fund (€74m for 2024) and costs and proceeds of extraordinary nature (€341m for 2024 of extraordinary costs related to tax credit Voluntary Risk Assessment "VRA"); 2. 2024-2028 Strategic Plan "The Connecting Platform" presented in March 2024; 3. Revenues are restated net of commodity price and pass-through charges related to the energy business. 2017 revenues are restated net of interest expenses and capital losses on investment portfolio

ALL BUSINESS UNITS REPORTING SIGNIFICANT GROWTH IN FY-24 RECORD 12-MONTH REVENUES

2024 ORDINARY DPS c.3X 2016 – €7BN¹ CUMULATED DIVIDENDS PAID SINCE 2016

UPGRADED 70% P/O RATIO DIVIDEND POLICY DRIVEN BY STRONG VISIBILITY ON CASH FLOW GENERATION AND CAPITAL OPTIMIZATION

€ unless otherwise stated

1. Includes final installment of 2024 dividend to be paid, following AGM approval, in June 2025; 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. Initial target of 0.92 implied from Net Profit initial guidance of €1.9bn and 65% payout ratio; 6. Calculated on the average market cap of 2024; 7. Data from 27 October 2015 to 14 February 2025

FTSE MIB: +140%

KPI 2023 2024

2024 KEY ACHIEVEMENTS

ACCELERATING THE DELIVERY OF STRATEGIC PLAN¹ TARGETS

• New labour union agreement enabling network transformation and providing visibility on Business Plan execution and cost base • Full release of SuperApp and continued focus on digitalization / omnichannel approach

1. 2024-2028 Strategic Plan "The Connecting Platform" presented in March 2024; 2. Based on 2024 B2C and B2B volumes; 3. Includes Motor (distribution only); 4. Issuing

ACCELERATING DIGITAL JOURNEY TO ENHANCE PLATFORM EFFECT

IMPROVING CUSTOMER EXPERIENCE, LOYALTY AND CROSS-SELLING OPPORTUNITIES

Exceeded 25m daily omnichannel interactions with increasing role of digital channels accounting for c.30%⁵ of transactions and sales

1. Clients that used a Poste Italiane digital channel; 2. Customers who have at least one on digital channel and one access in UP during the year; 3. CX refers to Customer Experience and is calculated as the average between Net Promoter Score "NPS" (70%) and Customer Effort Score "CES" (30%); 4. App User Stickiness is calculated as daily active users/monthly active users on Poste Italiane's Apps; 5. Defined as all transactions (e.g. bill payments, bank transfers, etc.) as well as sales (e.g. subscription of financial products), excluding LIS transactions and sales

• Polis project on track: 3k Post Offices completed (a further 600 underway) and 81 co-working sites finalized; >50k PA

SOCIAL

• 99k engaged employees ('INSIEME-Connecting Ideas')⁵

• Confirmed Top Employers and Equal Salary certifications • New Collective Labour Contract for the period 2024-2027 • +138% digital transactions (financial, insurance, payments)⁷

• 6m training hours & 95% upskilling index⁴

• 1.9k re-skilled FTEs to perform strategic roles⁶

ESG KEY ACHIEVEMENTS IN 2024

DELIVERING INTEGRATED ESG TARGETS FOR A LONG-TERM SUSTAINABLE GROWTH

ENVIRONMENTAL

• Decarbonisation: continued reduction in total Group tCO2^e emissions towards Carbon Neutrality by 2030
• Completed fleet renewal plan with c.6k electric vehicles and c.22k other low-emission vehicles
• Green index certified carbon calculator
• c.-22% power consumption through efficiency projects¹ , resulting in c.€32m annual savings²
• c.700k active contracts for green power & gas offer; c.16m eco-friendly cards

SUSTAINABLE FINANCE PEOPLE DEVELOPMENT DIVERSITY & INCLUSION GREEN TRANSITION

CREATING VALUE FOR THE COUNTRY

CUSTOMER EXPERIENCE

INNOVATION

GOVERNANCE

• CSRD-compliant internal control system

INTEGRITY & TRANSPARENCY

• Renewed certification on sustainable procurement
• Resilient digital ecosystem in compliance with Digital Operational Resilience Act
• Anti-fraud integrated platform prevented c.€25m in fraud attempts, protecting clients
• Unified ISO 45001 Occupational Health & Safety and ISO 37001 antibribery management systems

STRONG ESG REPUTATION – INCLUDED IN MOST RELEVANT INDICES AND RATINGS

• 'AA' rating • Sustainability Yearbook 2025 (90/100)

• Best-in-class World/Europe Indices

services provided³

• 'Advanced' (ESG overall score 79/100 rating)

• Platinum medal • 'Top 1%' (89/100)

13

SUPERAPP IS NOW LIVE – THE SINGLE ACCESS POINT TO POSTE ITALIANE PLATFORM

THE KEY PILLAR OF OUR OMNICHANNEL MODEL DELIVERING A HYBRID EXPERIENCE TO OUR CLIENTS

A highly personalized experience powered by AI

1. Digital interactions (app and web) as of 31 December 2024; 2. Reached 1st place on Apple & Android in 2024

ARTIFICIAL INTELLIGENCE AT THE CORE OF OUR PLATFORM

TRANSFORMING OUR MODEL IN A TECH COMPANY LEVERAGING ON OUR ARCHITECTURE

MAIL & PARCEL

NETWORK TRANSFORMATION UNDERWAY – GROWTH DRIVEN BY PARCEL AND LOGISTICS

LOGISTICS TRANSFORMATION
	• Launch of the new directly managed courier network in H1-25 • 1/3 of logistics transformation completed by YE-25	Parcels delivered 42% by group employees1 (2025)
MAIL
	OPERATIONAL DRIVERS	2025 KPIs
Mail	• Repricing actions partially compensating further volume decline	Repricing actions +50m revenues '25 vs '24
PARCEL AND LOGISTICS
	OPERATIONAL DRIVERS	2025 KPIs
Domestic Parcels	• Margin improvement on smaller B2X client base • O-O-H2 growth leveraging on unmatched client reach	+20% O-O-H2 volumes Y/Y
International	• Continuous growth of international inbound business • Outbound business w/DHL up to speed	c.350 2025 int. inbound m revenues
Contract Logistics	• Expanding E2E client base capitalising on synergies with express courier	'25 vs '24 3 c.25% revenues growth
	• Milano Cortina 2026 Winter Games

Milano Cortina project and Healthcare logistics (+50% including Milano Cortina project)

18

FINANCIAL SERVICES

ACCELERATING ROLL-OUT OF NEW SERVICE MODEL AND CONTINUED FOCUS ON POSTAL SAVINGS

NEW SERVICE MODEL POSTAL SAVINGS

INCREASING SPECIALISED COVERGE

• Specialised coverage roll-out ahead of Plan¹
• Increase Financial Advisors' ("FA") productivity by refocusing on value added clients (+100 Premium FA and +180 Affluent FA)
• +500 Front-End operators

EMPOWERING FINANCIAL ADVISORS

• New Front-End and Advisory tools powered by GEN AI
• New incentive scheme linked to single client portfolio targets
• New financial advisors' career path

REBALANCING

• 1% of TFAs rebalanced in 2024 expected to more than double in 2025

REVAMPING POSTAL SAVINGS' OFFERING

• New tailor-made products dedicated to specific client clusters
• New initiatives to attract new liquidity
• Initiatives to manage record maturities

Postal Books (1875) Postal Bonds (1925)

"OPZIONE RISPARMIO SMART" – THE NEW SAVINGS ACCOUNT OF POSTE ITALIANE CLIENTS

• Allowing Postepay cardholders and BancoPosta depositors to access a simple time deposit product ("Deposito Super Smart² ") through a streamlined process
• One-off or recurring money transfer to Libretto Smart³ and transfers through automatic round-up

INSURANCE SERVICES

IMPROVING MARKET CONDITIONS SUPPORTING LIFE BUSINESS – SIGNIFICANT GROWTH OPPORTUNITY IN PROTECTION

MARKET ENVIRONMENT & GROWTH DRIVERS

• Saving rate of Italian households at the highest level in recent years³
• Returns of life insurance investment products closing the gap with competing products
• Improving positive inflows thanks to stabilization of lapse rate and new products with appealing returns
• Higher margins for new production vs in-force portfolio

MARKET ENVIRONMENT & GROWTH DRIVERS

• Steady demand increase for personal insurance (health and property) after Covid-19 pandemic
  • Poste client base largely untapped (penetration <3%) and underinsured (>90% clients⁶ with no pre-existing policies)
  • Cross-selling opportunities with investment products
  • Leveraging on Net Insurance third-party distribution agreements to tap markets or channels with significant growth potential

1. Source: ANIA. Including Life protection Individual and group insurance policies. Italian + non-EU insurance companies operating in Italy; 2. Preliminary estimate for market net flows; 3. Source: ISTAT, Bank of Italy. Excluding period affected by Covid-19 pandemic; 4. Source: ANIA. Including individual and group insurance policies. Italian + non-EU insurance companies operating in Italy (life protection and non-motor P&C); 5. Preliminary estimate for market GWP growth; 6. Internal estimate

POSTEPAY SERVICES

OUTPERFORMING THE MARKET BY LEVERAGING ON OUR UNIQUE EVERYDAY ECOSYSTEM

CONNECTING THE ECOSYSTEM – AI & DATA ANALYICS TO SUPPORT COMMERCIAL EFFORT (new integrated offers)

1. Osservatorio Innovative Payments estimate (Politecnico di Milano); 2. Internal Estimates based on Globaldata, Euromonitor, Cerved; 3. Number of transactions including payments, top-ups and withdrawals

CONTENTS

IMPROVING REVENUE QUALITY

CONTINUING TO INCREASE EXPOSURE TO GROWING MARKETS

€bn unless otherwise stated

KEY FINANCIAL TARGETS

2025 PROFITABILITY GROWTH CONFIRMED – ANTICIPATING BY 2 YEARS BUSINESS PLAN¹ TARGETS

€bn unless otherwise stated

	2023	2024	2025
REVENUES	11.99	12.59	12.8
ADJUSTED EBIT2	2.62	2.96	3.1
NET PROFIT	1.93	2.01	2.1
DPS (€)	0.80	Proposed 1.08
DIVIDEND PAYOUT	54%	70%	70%

1. 2024-2028 Strategic Plan "The Connecting Platform" presented in March 2024; 2. Adjusted excluding systemic charges related to insurance guarantee fund (€74m p.a. for 2024 and 2025) and costs and proceeds of extraordinary nature (€341m for 2024 of extraordinary costs related to tax credit VRA)

NEW DIVIDEND POLICY – PAYOUT STRUCTURALLY INCREASED FROM ≥65% TO 70%

BACKED BY STRONG VISIBILITY ON CASH FLOW GENERATION AND GROUP CAPITAL OPTIMIZATION

1. 2024-2028 Strategic Plan "The Connecting Platform" presented in March 2024; 2. Dividend coverage ratio defined as total dividend from subsidiaries/business units divided by dividends to shareholders; 3. Calculated on the average market cap of 2024

DIVERSIFIED AND HIGHLY VISIBLE DIVIDEND STREAM FROM SUBSIDIARIES…

…ENABLING UPGRADED DIVIDEND POLICY WHILE CONFIRMING SOUND CASH AND CAPITAL POSITION

CASH AND CAPITAL POSITION

• Net Financial Position³ YE-25 stable vs YE-24 at c.€(1.5)bn
• Distributable Reserves in excess of €3.0bn by YE-25 (from €2.5bn in 2024)
• Large untapped debt capacity
• Solvency II ratio pro-forma for €1.5bn additional remittance at c.300% well above managerial ambition providing additional support to Group dividend policy

POSTE ITALIANE THE CONNECTING PLATFORM

FY-24 PRELIMINARY RESULTS & 2025 STRATEGY UPDATE

FINANCIAL HIGHLIGHTS

21 FEBRUARY 2025

Camillo Greco CFO

Q4 & FY-24 RESULTS OVERVIEW

RECORD ADJUSTED EBIT¹ AND NET PROFIT DRIVEN BY TOP-LINE GROWTH AND COST DISCIPLINE

€ m unless otherwise stated
	Q4-23	Q4-24	Δ%	FY-23	FY-24	Δ%
REVENUES	3,186	3,362	+6%	11,989	12,589	+5%
ADJUSTED EBIT1	515	685	+33%	2,620	2,961	+13%
NET PROFIT	411	418	Includes Systemic charges and Tax Credit VRA impact2 +2%	Includes from sennder capital gain 1,933	109 2,013	Includes Systemic charges and Tax Credit VRA impact2 +4%

HIGHLIGHTS

• 5% Y/Y revenue growth with robust commercial performance across the platform
• Cost discipline mitigating inflation impact – evolution reflecting higher business volumes
• €2.96bn Adjusted EBIT¹ – c.3x 2017 EBIT and exceeding latest guidance of €2.8bn
• Record Net Profit at €2.01bn, in line with upgraded guidance
• EBIT adjustments:
  • ➢ Systemic charges related to the insurance guarantee fund of €74m in 2024
  • ➢ Tax credit adjustment: window of opportunity to de-risk balance sheet leading to €341m extraordinary pre-tax charge as a result of voluntary risk assessment agreed with Italian Revenue Agency

Revenues and costs are restated net of commodity price and pass-through charges of the energy business; 1. Adjusted excluding systemic charges related to insurance guarantee fund (€74m for 2024) and costs and proceeds of extraordinary nature (€341m for 2024 of extraordinary costs related to tax credit Voluntary Risk Assessment "VRA"); 2. Post-tax impact of VRA benefiting from recovery of tax deductability on provisions and losses on tax credits also from previous years

ADJUSTED EBIT¹ BY SEGMENT

2024 PROFITABILITY GROWTH BENEFITING FROM HIGHER REVENUES AND EFFECTIVE COST MANAGEMENT

1. Adjusted excluding systemic charges related to insurance guarantee fund (€74m for 2024 o.w. €16m for Financial Services and €58m for Insurance Services) and costs and proceeds of extraordinary nature (€341m for 2024 for Mail, Parcel & Distribution of extraordinary costs related to tax credit VRA); 2. Adjusted excluding systemic charges related to insurance guarantee fund (€18m for Q4-24 o.w. €4m for Financial Services and €14m for Insurance Services) and costs and proceeds of extraordinary nature (€341m for Q4-24 for Mail, Parcel & Distribution of extraordinary costs related to tax credit VRA)

KEY FINANCIAL TARGETS 2025 PROFITABILITY GROWTH CONFIRMED – ANTICIPATING BY 2 YEARS BUSINESS PLAN¹ TARGETS

€bn unless otherwise stated

	2017	2023	2024	2025
REVENUES2	10.57	11.99	12.59	12.8
ADJUSTED EBIT3	1.12	2.62	2.96	3.1
NET PROFIT	0.69	1.93	2.01	2.1
DPS (€)	0.42	0.80	Proposed 1.08	70% payout
Achieved Overachieved

2017 numbers reported according to IFRS4; 1. 2024-2028 Strategic Plan "The Connecting Platform" presented in March 2024; 2. Revenues are restated net of commodity price and pass-through charges related to the energy business. 2017 revenues are restated net of interest expenses and capital losses on investment portfolio; 3. Adjusted excluding systemic charges related to insurance guarantee fund (€74m p.a. for 2024 and 2025) and costs and proceeds of extraordinary nature (€341m for 2024 of extraordinary costs related to tax credit VRA)

MAIL, PARCEL & DISTRIBUTION

PARCEL AND LOGISTICS DRIVING REVENUE GROWTH – ADJUSTED EBIT¹ CONFIRMED POSITIVE AND AHEAD OF PLAN²

1. Adjusted excluding costs and proceeds of extraordinary nature (€341m for 2024 of extraordinary costs related to tax credit VRA); 2. 2024-2028 Strategic Plan "The Connecting Platform" presented in March 2024; 3. Includes Philately, Patenti Via Poste, Poste Motori, Poste Welfare Service, AgileLab, Sourcesense; 4. Includes income received by Other Segments in return for use of the distribution network and Corporate Services and for reimbursement related to capex cost

FINANCIAL SERVICES

RESILIENT INVESTMENT PORTFOLIO REVENUES AND CONTINUED COMMERCIAL EFFORT DRIVING TOP-LINE GROWTH

1. Including intersegment distribution revenues; 2. Including revenues from payment slips (bollettino), banking accounts related revenues, fees from INPS and money transfers; 3. Including revenues from custody accounts, credit cards, other revenues from third-party products distribution; 4. Adjusted excluding systemic charges related to insurance guarantee fund (€16m for 2024)

RESILIENT FINANCIAL SERVICES INVESTMENT PORTFOLIO REVENUES

STRONG REVENUE VISIBILITY UNDER DIFFERENT MARKET SCENARIOS

€bn unless otherwise stated

INSURANCE SERVICES

GROWTH SUPPORTED BY RESILIENT LIFE AND FAST-GROWING PROTECTION

€bn unless otherwise stated

SEGMENT REVENUES¹ ADJUSTED EBIT²& NET PROFIT

2025 HIGHLIGHTS

• Life Investments & Pension (LI&P):
  • Resilient growth supported by improving net inflows and higher margins
• Protection:
  • Fast GWP growth while preserving profitability
  • Growing contribution to Insurance Services P&L (x2 from 2022 to 2024) expected to continue, further diversifying profitability and risk profile
• Steady growth in Adjusted EBIT² and Net Profit, fully in line with Plan³ projections

1. Includes Private Pension Plan (PPP); 2. Adjusted excluding systemic charges related to insurance guarantee fund (€58m for 2024); 3. 2024-2028 Strategic Plan "The Connecting Platform" presented in March 2024; 4. Includes motor GWP; 5. Net of reinsurance. Since 2023 COR defined as insurance expenses, net reinsurance expenses, other technical income and expenses, not directly attributable expenses divided by gross insurance revenues, 2022 numbers restated accordingly

MAINTAINING A STRONG CAPITAL BUFFER ABOVE MANAGERIAL AMBITION c.€1.5BN ADDITIONAL REMITTANCE FROM POSTE VITA TO BE PAID ACROSS 2025-28

100% NET PROFIT REMITTANCE TO PARENT COMPANY CONFIRMED

1. Excluding the impact of 12p.p. related to €0.5bn of 2024 additional remittance to be paid in 2025; 2. Remittance ratio: dividend paid by Poste Vita to Poste Italiane on accrual basis; 3. Negative impact on Solvency ratio assuming a +100 bps increase of the spread; 4. In 2022 a 100 bps spread increase would have triggered the country volatility adjustment, not triggered in 2023 and 2024; 5. To be paid through the Plan period, subject to (i) Solvency ratio staying above 200% after distribution, (ii) availability of distributable reserves in Italian GAAP accounts and (iii) compliance with any limitation on dividends set by regulators

POSTEPAY SERVICES

ADJUSTED EBIT ONE YEAR AHEAD OF PLAN¹ SUPPORTED BY ALL PRODUCTS – OUTPACING MARKET GROWTH

HUMAN CAPITAL - FTEs

WORKFORCE TRANSFORMATION WITH HIGHER FTEs IN EXPANDING BUSINESSES – IMPROVING PRODUCTIVITY

1. Annualized figures, calculated excluding IFRS17 effect and 2023 one-off bonus; 2. Group revenues minus cost of goods sold

ORDINARY HR COSTS/REVENUES IMPROVING THROUGH THE PLAN¹

HR-COSTS EMBEDDING NEW LABOUR AGREEMENT AND INCREASED EFFICIENCY

1. 2024-2028 Strategic Plan "The Connecting Platform" presented in March 2024; 2. Includes Ordinary and Non-ordinary HR costs: 3. Calculated excluding IFRS17 impact

NON-HR COSTS

VARIABLE COST INCREASE TO SUPPORT BUSINESS GROWTH WHILE EFFECTIVELY MANAGING INFLATION

1. Excluding other non-HR costs. Numbers are restated restated net of commodity price and pass-through charges of the energy business; 2. Refers to parcels, payments and telco; 3. Ratios calculated excluding IFRS17 impact

c.€1.1BN GROUP FUNDED CAPEX IN 2025

CONTINUING TO INVEST IN DIGITALISATION AND SUPPORT BUSINESS TRANSFORMATION

POSTE ITALIANE THE CONNECTING PLATFORM

FY-24 PRELIMINARY RESULTS & 2025 STRATEGY UPDATE

21 FEBRUARY 2025

Matteo Del Fante CEO

CLOSING REMARKS

UNMATCHED ITALIAN PLATFORM COMPANY DELIVERING SUSTAINABLE REVENUE AND PROFITABILITY GROWTH

2024 RECORD ADJUSTED EBIT¹ AT €2.96BN, c.3X 2017 LEVEL

NET INCOME AT €2.01BN, 2 YEARS AHEAD OF PLAN² AND IN LINE WITH UPDATED GUIDANCE

• 2024-2028 STRATEGIC PLAN "THE CONNECTING PLATFORM" KEY INITIATIVES FULLY ON TRACK
• GROWTH TRAJECTORY CONFIRMED FOR 2025 GUIDANCE OF €3.1BN ADJUSTED EBIT¹ AND €2.1BN NET INCOME

DIVIDEND POLICY FURTHER UPGRADED, PAY-OUT INCREASED FROM ≥65% TO 70%, BACKED BY STRONG VISIBILITY ON CASH FLOWS AND GROUP CAPITAL OPTIMIZATION. 2024-28 CUMULATED DIVIDEND OF c.€7.5BN

● PROPOSED FY-24 DPS OF €1.08 (+35% Y/Y), €1.4BN TOTAL 2024 DIVIDEND – BALANCE OF €0.75 P/S (€0.97BN TOTAL) TO BE PAID IN JUNE 2025³

1. Adjusted excluding systemic charges related to insurance guarantee fund (€74m p.a. for 2024 and 2025) and costs and proceeds of extraordinary nature (€341m for 2024 of extraordinary costs related to tax credit Voluntary Risk Assessment "VRA"); 2. 2024-2028 Strategic Plan "The Connecting Platform" presented in March 2024; 3. Ex dividend date 23 June 2025