Poste Italiane

Investor Presentation • Mar 20, 2024

POSTE ITALIANE 2024 – 2028 STRATEGIC PLAN

THE CONNECTING PLATFORM

ROME, 20 MARCH 2024

10:00 – 10:50 Matteo Del Fante - CEO

10:50 – 11:10 Massimo Rosini - Mail & Parcel

11:10 – 11:30 Guido Nola - Financial Services

11:30 – 11:50

Andrea Novelli - Insurance Services

11:50 – 12:10

Laura Furlan – Postepay Services

12:10 – 12:25

Camillo Greco - CFO

12:25 – 12:30

Matteo Del Fante - Closing Remarks

12:30 – 13:00

Q&A Session

2024 - 2028 STRATEGIC PLAN: THE CONNECTING PLATFORM SPEAKERS

Matteo Del Fante Chief Executive Officer

Massimo Rosini Mail & Parcel

Laura Furlan Postepay Services

Guido Nola Financial Services

Camillo Greco Chief Financial Officer

Andrea Novelli Insurance Services

Giuseppe Esposito Investor Relations

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 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 – 2028 STRATEGIC PLAN

THE CONNECTING PLATFORM

ROME, 20 MARCH 2024

Matteo Del Fante CEO

POSTE ITALIANE: THE CONNECTING PLATFORM

1. Including clients with non-financial products (utilities) and digital IDs; 2. 2023 numbers exclude sennder and Covid logistics mandate for the computation of the CAGR; 3. Excluding systemic charges related to insurance guarantee fund, on average c.80m per annum over the plan period

CONTENTS

Achievements Strategic foundations Financial targets

OVERDELIVERING UNDER DIFFERENT MARKET ENVIRONMENTS

CONSISTENTLY BEATING TARGETS WHILE DRIVING SUSTAINABLE RETURNS

€bn unless otherwise stated		Impacted by Covid-19
	2017	2018	2019	2020	2021	20221	2023
REVENUES2	10.57	10.82	10.96	10.53	11.22	11.37	11.99
EBIT	1.12	1.50	1.77	1.52	1.85	2.40	2.62
NET PROFIT3	0.69	1.40	1.34	1.21	1.58	1.58	1.93
DPS (€)	0.42	0.44	0.46	0.49	0.59	0.65	0.80

Achieved Overachieved

1. 2022 numbers are restated for IFRS17 2. Revenues exclude commodity price and pass-through charges related to the energy business. 2017-'19 revenues are restated net of interest expenses and capital losses on investment portfolio; 3. 0.76bn excluding write-off of 0.07bn for 2017; 1.01bn excluding positive tax one-offs of 0.39bn for 2018; 1.23bn excluding SIA stake revaluation and positive tax one-offs of 0.11bn for 2019; 1.11bn excluding positive tax one-offs of 0.1bn for 2020; 1.33bn excluding Nexi stake revaluation and positive tax one-offs of 0.25bn for 2021

€6BN¹ CUMULATED DIVIDENDS PAID SINCE 2016 TRACK RECORD OF IMPROVED DIVIDEND POLICY - 2X 2016 DPS

€ unless otherwise stated

1. Includes final installment of 2023 dividend to be paid, following AGM approval, in June 2024; 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. Data from 27 October 2015 to 15 March 2024

• Digitalisation

approach to

experience

transformation

• Workforce

and omnichannel

enhance customer

KPI 2017 2023

113m 256m # yearly parcels

(0.5) (0.0) MP&D EBIT €bn

36 57 Retail deposits (€bn)³

502² 581 TFA (€bn)

210 809 Protection GWP (€m)

115² 160 Life provisions (€bn)

0 c.500k # energy contracts

24 80 transaction value (€bn)⁴

KEY OPERATIONAL ACHIEVEMENTS SINCE 2017

SUCCESSFULLY REPOSITIONED OUR BUSINESS FOR SUSTAINABLE GROWTH AND PROFITABILITY

Mail, Parcel & Distribution – Building an E2E logistics operator for a sustainable business

• From Mail to leading Parcel operator, supported by largest PUDO network (28k)¹
• Entered the contract logistics market
• Breakeven achieved in 2023, ahead of guidance

Financial Services – Italy's most trusted financial institution with an omnichannel approach

• Proactive investment portfolio management delivering results in different rate environments
• Controlled open omnichannel platform for insurance, savings, investments and lending
• Continuous strengthening of client coverage

Insurance Services – A fully-fledged and resilient insurance company

• Positive net flows in Life business in different market environments
• Growth in Protection and third-party distribution, boosted by Net Insurance
• Strong capital position successfully reduced Solvency II sensitivity

Postepay Services – The largest ecosystem for everyday needs with payments at its core

• Largest payments player in Italy with 30m cards, 10m IBAN-backed Evolution cards
• Unmatched payment ecosystem completed with Telco and Energy offer
• LIS integration and successful launch of Energy business

CONTENTS

Achievements Strategic foundations Financial targets

THE UNMATCHED ITALIAN PLATFORM COMPANY

CONNECTING CITIZENS, BUSINESSES AND PUBLIC ADMINISTRATION

1. Including clients with non-financial products (utilities) and digital IDs; 2. Cumulated App downloads

Achievements Strategic foundations Financial targets

A CUTTING-EDGE TECH INFRASTRUCTURE POWERING OUR PLATFORM c.€5BN SPENT IN TECHNOLOGY SINCE 2017 OF WHICH 67% IN TRANSFORMATION PROJECTS

Achievements Strategic foundations Financial targets

HYBRID CLIENTS DRIVE VALUE

TECH TRANSFORMATION FOSTERING IMPROVED CUSTOMER EXPERIENCE AND LOYALTY

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. CES is calculated as percentage of promoters minus percentage of detractors for Poste Italiane's Apps; 5. App User Stickiness is calculated as daily active users/monthly active users on Poste Italiane's Apps

THE INCREASING RELEVANCE OF OUR DIGITAL CHANNELS

GROWING DIGITAL INTERACTIONS, TRANSACTIONS AND REVENUES

bn unless otherwise stated

A COORDINATED OMNICHANNEL APPROACH FOSTERING CLIENTS' DIGITALISATION

1. Defined as any contact the client has with Poste Italiane (e.g., entry into Post Office, ATM transactions, entry into a physical third-party networks point, App login, access to website etc.), excluding LIS interactions; 2. 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; 3. Defined as total revenues generated on digital channels, excluding tax credit related revenues

Achievements Strategic foundations Financial targets

BUILDING ON OUR PLATFORM

2024 – 2028 STRATEGIC PLAN KEY PILLARS

NEW COMMERCIAL SERVICE MODEL

Optimise retail client coverage

Post Office front end: from transactions to relationships

Renew focus on micro-small business clients

Maximise the value of our platform

Parcel dedicated network

Real estate JV

Improve customer experience

Operational efficiency & optimisation

Ensure Mail & Parcel financial sustainability

Achievements Strategic foundations Financial targets

A NEW COMMERCIAL SERVICE MODEL

MAXIMISING THE VALUE OF OUR CLIENT RELATIONSHIPS – FOSTERING NETWORK PRODUCTIVITY

45M TOTAL CLIENTS – o.w. 35M FINANCIAL

• Sales tools and AI to manage a large client base
• "Home & Family" corners in Post Offices with a relational approach
• Focus on mass and prospect clients (especially young people and high potential clients)

NEW SUPERAPP

Achievements Strategic foundations Financial targets

SUPERAPP: A SINGLE APP FOR 45 MILLION DIFFERENT EXPERIENCES

CUSTOMISED TO INDIVIDUAL NEEDS

Quick and secure access to the new SuperApp digital payment wallet

The SuperApp digital payment wallet allows clients authentication and payments across physical and digital channels

SUPERAPP ENABLING AN INTEGRATED BUSINESS MODEL CONNECTING ALL ACTORS OF OUR PLATFORM

Achievements Strategic foundations Financial targets

ARTIFICIAL INTELLIGENCE AT THE CORE OF OUR PLATFORM BUSINESS MODEL

DATA MINING TO BETTER SERVE OUR CLIENT BASE

1. Commercial communication sent to clients in 2023; 2. Distributed storage in the hybrid environment for client operations. PB stands for petabite where 1 petabite = 1 quadrillion bites; 3. Interactions with chatbot/voicebot during 2023; 4. Financial transactions analyzed by Machine Learning, Deep Learning, Artificial Intelligence in 2023

Achievements Strategic foundations Financial targets

LOGISTICS TRANSFORMATION

BUILDING A FUTURE-PROOF TECH DRIVEN NETWORK TO BECOME A FULLY-FLEDGED E2E LOGISTICS OPERATOR

NETWORK EVOLUTION

TECH TRANSFORMATION

PARCEL DEDICATED NETWORK

• Postal network increasingly parcel focused
• Micro-fulfillment and PUDOs¹

LOGISTICS REAL ESTATE JV

● Accelerate and co-finance network transformation

OPERATIONAL EFFICIENCY & OPTIMISATION

• Asset tracking
• Network optimisation
• Predictive algos

IMPROVE CUSTOMER EXPERIENCE

● Full E2E visibility and customisation

● Real time client feedback and interaction

PARCELS PER YEAR In 2028 (vs 256m in 2023)

STRATEGIC FOCUS ON COST MANAGEMENT COST DISCIPLINE WHILE SUPPORTING BUSINESS GROWTH

MANAGERIAL LEVERS

1. 2028 targets; 2. Annualized figures, calculated excluding IFRS17 effect; 3. Value added calculated as group revenues minus cost of goods sold; 4. Refers to parcel, payments and telco

KPIs

Achievements Strategic foundations Financial targets

Achievements Strategic foundations Financial targets

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

ESG STRATEGIC PLAN GROUNDED ON 8 PILLARS

53 NEW ESG TARGETS INTEGRATED INTO GROUP STRATEGY ENSURING SHARED VALUE CREATION AND ALIGNMENT WITH SDGs

Selected KPIs

CREATING VALUE FOR THE COUNTRY

Polis Project full completion by 2026 Strengthen corporate employee volunteering projects

CUSTOMER EXPERIENCE

+10p.p. customer experience rate in 2028 (vs 2023) 4 Hub & Spoke model initiatives to support national entrepreneurship, also focusing on D&I by 2028

INNOVATION

Ethical Framework for Artificial Intelligence by 2026 +115% digital transactions financial services, insurance, and payments by 2024 (vs 2023)

SUSTAINABLE FINANCE

Portfolio decarbonisation (Net Zero by 2050) 100% of Poste Vita products SFDR art.8 compliant by 2024

INTEGRITY & TRANSPARENCY

Internal Control over Sustainability Reporting CSRD aligned 2 staff training initiatives on ethical principles by 2024

PEOPLE DEVELOPMENT

Campus Italia: 5 interconnected employee learning hubs 40 professional orientation initiatives for youth by 2025

DIVERSITY & INCLUSION

1 age management program by 2025 Enhance accessibility and inclusivity measures (e.g. "Dyslexia Friendly company" certification and digital inclusion)

GREEN TRANSITION

(42%)¹ Scope 1, 2 tCO2e emissions reduction by 2030 >98% of population within 5 mins of a PUDO² by 2028

STRONG REPUTATION AND MARKET RECOGNITION POSTE ITALIANE IS INCLUDED IN LEADING ESG INDICES AND RATINGS

Achievements Strategic foundations Financial targets

OUR PATH TOWARDS GROUP'S CARBON NEUTRALITY BY 2030

IN LINE WITH EMISSIONS REDUCTION INTERMEDIATE TARGET – LAUNCHING NEW INITIATIVES

Note: all targets are calculated vs 2020 unless otherwise stated; 1. vs 2019

Achievements Strategic foundations Financial targets

OUR PEOPLE ARE PIVOTAL DRIVERS OF TRANSFORMATION

6 YEARS LATER… WE ARE 2 YEARS YOUNGER AND MORE EXPERIENCED TO TACKLE FUTURE CHALLENGES

1. Data for 2017-'23; 2. Re-skilling for the purpose of redeploying FTEs for different activities. Data for 2020-'23; 3. People empowered through several initiatives and tools in 2023; 4. People enrolled in Talent programs (2021-'23); 5. Total over two editions; 6. Middle and senior level; 7. The utilisation rate among enrolled employees represents an indicator of their satisfaction level regarding the Poste welfare's offering of goods and services

Achievements Strategic foundations Financial targets

POLIS PROJECT – HOME TO DIGITAL PUBLIC ADMINISTRATION SERVICES CONFIRMING POSTE ITALIANE'S KEY ROLE IN SUPPORTING LOCAL COMMUNITIES

POLIS PROJECT

• Promote social cohesion and bridge digital divide
• Strengthen Poste Italiane's network in remote areas
• New Public Administration services, increasing Post Offices footfall
• Contribute to Italy's green transition

Investment o.w. c.65% funded¹

CONTENTS

KEY FINANCIAL TARGETS

SUSTAINABLE PROFITABILITY AND STRONG CASH FLOW GENERATION SUPPORTING ENHANCED DIVIDEND POLICY

€bn unless otherwise stated

	2023	2024	2026	2028	CAGR 23-28
REVENUES	11.99	12.0	12.7	13.5	+c.3%1
EBIT2	2.62	2.7	2.9	3.2	+c.4%
NET PROFIT	1.93	1.9	2.0	2.3	+c.4%3
DIVIDEND PER SHARE (€)	0.80		≥1.0		+c.7%
DIVIDEND PAYOUT	54%		≥65% over the plan

1. 2023 numbers exclude sennder and Covid related mandate for a total of 0.2bn for the computation of the CAGR; 2. Excluding systemic charges related to insurance guarantee fund, on average c.80m per annum over the plan period; 3. 2023 numbers exclude sennder and one-off bonus for the computation of the CAGR

Achievements Strategic foundations Financial targets

COMMITMENT TO COMPETITIVE SHAREHOLDERS' REMUNERATION

MINIMUM 65% PAYOUT RATIO RESULTING IN ≥€6.5BN CUMULATED DIVIDENDS THROUGH THE PLAN

• Sustainable cash and capital generation
• Diversified and visible dividend upstream from subsidiaries
• Strong capital position Solvency II well above managerial ambition with reduced sensitivity
• Poste Vita remittance ratio increased to up to 100% providing additional flexibility, while Group's upgraded dividend policy fully sustainable with a lower remittance ratio

POSTE ITALIANE 2024 – 2028 STRATEGIC PLAN

THE CONNECTING PLATFORM

ROME, 20 MARCH 2024

Massimo Rosini MAIL, PARCEL & DISTRIBUTION

CONTENTS

SUSTAINABLE E2E

LOGISTICS OPERATOR

KEY ACHIEVEMENTS

FROM MAIL TO A SUSTAINABLE E2E LOGISTICS OPERATOR

LEADERSHIP IN

CONTENTS

SUPPORTIVE MARKET TRENDS

GROWTH OPPORTUNITIES IN PARCELS AND CONTRACT LOGISTICS

● Healthcare logistics segment up driven by public sector

4 KEY ENABLERS TOWARDS AN E2E SUSTAINABLE LOGISTICS OPERATOR

• Delivery network optimisation (e.g. dynamic network choice)
• Cost reduction, fine grained peak predictions

Automation Data Analytics;

network & dynamic resource planning

Generative AI;

CUSTOMER EXPERIENCE

EFFICIENCY

maintenance ● High througput event ingestion

● Real-time control tower

DESCRIPTIVE LOGISTICS

● Full E2E visibility

TECHNOLOGY

IoT; Edge computing; Real-time streaming ENABLING Machine Learning

● SuperApp: real-time notification

● Asset tracking for efficiency and

innovation Green logistics Real estate JV Future-proof network

Enablers

REDUCING IMPACT FROM OUR LOGISTICS OPERATIONS

POSTE GREEN INDEX FURTHER CONTRIBUTING TO GROW PARCELS SUSTAINABLY

LOGISTICS REAL ESTATE JOINT VENTURE

ACCELERATING THE RENOVATION OF OUR LOGISTICS INFRASTRUCTURE

Technology driven

innovation Green logistics Real estate JV Future-proof network

Enablers

SPEED UP AND CO-FINANCE THE TRANSFORMATION OF OUR LOGISTICS NETWORK FOLLOWING ESG STANDARDS

2024–'28 PLAN: €700M REVENUE GROWTH KEY STRATEGIC ACTIONS TO UNLOCK GROWTH

INNOVATION

Business segments

Parcel Contract Logistics Business segments

CHAMPION IN THE FAST GROWING OUT-OF-HOME AND 2 ND HAND MARKET

BEST PICK-UP & DROP-OFF NETWORK AS KEY COMPETITIVE ADVANTAGE – IMPROVING MARGINS

EXPANSION IN INTERNATIONAL PARCEL MARKETS

GAINING MOMENTUM THROUGH PARTNERSHIPS AND SOLID DOMESTIC CUSTOMER BASE

43

Parcel Contract Logistics Business segments

Business segments Parcel Contract Logistics

CONTRACT LOGISTICS – E2E SOLUTIONS

UNIQUE PROPOSITION TO MEET INCREASING DEMAND FOR OUTSOURCING LOGISTIC OPERATIONS

• Warehousing and distribution synergies
• Unrivalled network and real estate footprint
• Capacity to invest and proven execution skills
• Unique brand reputation in public sector

NEWCO

• Warehousing and Delivery solutions NewCo focused on tailor made E2E logistics solutions
• High compliance and operational standards

• Ongoing Regions' healthcare logistics outsourcing process, with long term assignments
• Proven track record in healthcare logistics

● 3 Regional projects in ● 2 more under

ENTERING A HIGH VISIBILITY LOGISTICS SEGMENT

WORKING TO BECOME THE LOGISTIC PROVIDER FOR 2026 WINTER OLYMPIC AND PARALYMPIC GAMES

• High level of complexity from medals to anti-doping
• Dedicated IT solutions
• Main Distribution Centre in Milan; activities starting by Oct 2024
• Over 30 venues in competition areas
• Up to 1k FTE involved

• Over 2m items to manage

• Up to 2bn people connected worldwide

• c.100 participating countries

2026 WINTER GAMES FOOTPRINT

REPUTATION AS A RECOGNISED E2E LOGISTICS OPERATOR

FINANCIAL TARGETS

€bn unless otherwise stated

	2022	2023	2024	2026	2028	CAGR 23-28
SEGMENT REVENUES	3.65	3.75	3.7	3.8	3.9	+1%
MAIL REVENUES	2.07	2.07	2.0	1.8	1.6	(5%)
PARCEL & LOGISTICS REVENUES	1.40	1.40	1.5	1.7	2.0	+7%
EBITDA		0.8		EBITDA growth	1.4
EBIT	(0.33)	(0.04)	0.0	0.0	0.1	n.m.

OF WHICH (0.3) TRANSFORMATION D&A AND EARLY RETIREMENTS

CONTENTS

CLOSING REMARKS

Full transformation of revenue mix towards growing businesses (20% in 2017 - 60% by 2028), becoming an E2E sustainable logistics operator

Self-adaptive workforce allocation model to ensure long-term value creation and a bright future for our 'postine' and 'postini'

Solid foundations for continuous long-term EBIT improvement

POSTE ITALIANE 2024 – 2028 STRATEGIC PLAN

THE CONNECTING PLATFORM

ROME, 20 MARCH 2024

Guido Maria Nola FINANCIAL SERVICES

CONTENTS

KEY ACHIEVEMENTS (1/2)

STRENGTHENED SERVICE MODEL AND BROADENED PRODUCT OFFERING

1. Affluent and Mass; 2. Restated for IFRS17; 3. As of 31 December 2019; 4. As of 31 December 2021; 5. As of 31 December 2023

DIGITAL

SALES

KEY ACHIEVEMENTS (2/2) – DIGITALISED PRODUCT OFFER A BROAD DIGITAL OFFER FOR SAVINGS, INVESTMENTS AND LENDING NEEDS

CONTENTS

SUPPORTIVE MACRO AND MARKET TRENDS

NEW OPPORTUNITIES IN AN EVOLVING LANDSCAPE

			MARKET TRENDS				OPPORTUNITIES
				20231	20261	20281
		Easing inflation		6.0%	1.4%	1.5%	Stabilise investment portfolio return ●
MACRO		Moderate increase in GDP2		0.7%	0.8%	1.5%	Invest clients' excess cash ● Revamp Postal savings commercial offer ●
		Normalising	interest rates (10y IRS)	3.05%	2.75% 2.73%
	ESG TRANSFORMATION			Integration in the investment process			ESG investment solutions
	DIGITALISATION			Acceleration of clients' digitalisation			Omnichannel service model ● Seamless SuperApp experience ●
	BANKING CLOSURES IN LOCAL COMMUNITIES		Continued bank branch closures (>30% in last 10 years)				Ensuring constant physical presence with no Post Office closure
	MICRO-SMALL BUSINESSES		Over 640k micro-small businesses with limited access to a bank branch as a result of closures				Leverage on uniquely comprehensive product offering (banking, payments, utilities, insurance and logistics) and widespread distribution network

2024–'28 BUSINESS PRIORITIES

FURTHER SERVICE MODEL AND PRODUCT OFFER EVOLUTION WITH STABLE PORTFOLIO RETURN

1. Specialised coverage on Affluent+ clients

NEW COMMERCIAL SERVICE MODEL ROLL-OUT STRENGTHENING COVERAGE TO MAXIMISE VALUE PER CLIENT

revenues

Savings and Investments Consumer loans Micro-small business Investment portfolio

IMPROVING POSTAL SAVINGS NET FLOWS – PRESERVING TOTAL STOCK

STRONG COMMERCIAL FOCUS TO MANAGE RECORD UPCOMING MATURITIES

€bn unless otherwise stated

REVISED DISTRIBUTION OFFER

• Distribution Agreement with CDP expiring in 2024 adapted to current market environment
• Postal books as the "savings account" of Italians, complementing Banco Posta's checking account
• Confirm Postal books as a mean to attract inflows of new clients' liquidity
• Revised commercial service model and digital products offer to improve customer experience and appeal to young adults
• Product feature update reduced time to market in line with customer needs and market trends
• Post Office network engagement through new IT tools, dedicated training and events

Savings and Investments Consumer loans Micro-small business Investment portfolio revenues

FOCUS ON INVESTMENTS

ADAPTING CLIENT PORTFOLIOS TO AN EVOLVING MARKET ENVIRONMENT

INVESTMENTS GROWTH DRIVERS

• Proactive portfolio rebalancing optimising clients' risk/return dynamics
• Enhanced investment advisory to improve Affluent+ services
• Widening ESG investment product portfolio
• Client centricity:
  • Generative AI to better serve client needs
  • Maximizing fit to target portfolio
  • Limited exposure to market volatility while protecting against inflation
  • Transparency
  • Competitive pricing

INVESTMENT REBALANCED VOLUMES (AS % OF STOCK)

PRODUCT MIX SHIFT SEIZING MARKET OPPORTUNITIES

TFA DIVERSIFICATION FOR RETAIL CLIENTS

1. Includes deposits and postal books; 2. Includes postal bonds, Class I, Class IV and PPP Life Investments & Pension products; 3. Includes Multiclass Life Investments & Pension products, mutual funds and Assets Under Custody; 4. As of 31 December 2023

CONSUMER LOANS VOLUME GROWTH OPTIMISING OUR MULTI-PARTNER MODEL

MAXIMISE ADVISORS' PRODUCTIVITY

PERSONAL LOANS

• Automatic routing to the most suitable partner and re-routing
• Client engagement supported by digital tools
• Data enrichment to improve partners' approval and time to response

SALARY-BACKED LOANS

• Consolidate market leadership via Financit (JV with BNL BNP Paribas)
• New target clients (e.g. private sector employees)
• Synergies with Insurance Services (Net Insurance as the leading salary-backed loans insurer)

PERSONAL LOANS - APPROVAL RATE AND VOLUMES

revenues

Savings and Investments Consumer loans Micro-small business Investment portfolio

SALARY-BACKED LOAN VOLUMES

Savings and Investments Consumer loans Micro-small business Investment portfolio

revenues

RENEWED COMMERCIAL FOCUS ON MICRO-SMALL BUSINESSES LEVERAGE ON COMPREHENSIVE PRODUCT OFFER AND SYNERGIES WITH RETAIL NETWORK

Growing micro-small business portfolio prioritising professionals and merchants leveraging on retail footprint

Clients 2023²

• State-of-the-art service platform:
  • Broadening a tailored financial and insurance offer
  • Strengthening multichannel offering
  • Unique range of Group's dedicated services including acquiring and logistics coupled with strong local reach
• New dedicated service model
  • New "Punto Poste Business Corners" (>400) in major Post Offices with dedicated Advisors and customised approach for top clients
  • Synergies with Post Office retail network for micro-small businesses' basic needs

1. Source: ConfProfessioni and Chambers of Commerce (2023); 2. Professionals and micro-small business owners being Poste Italiane micro-small business clients with at least one business financial product (current accounts, prepaid cards, acquiring services, business loans) as of 31 December 2023. Excluding associations, condominiums and Public Administration (144k clients); 3. Business current accounts of all clients served by the Post Office network

Savings and Investments Consumer loans Micro-small business Investment portfolio revenues

INVESTMENT PORTFOLIO IN A NORMALIZING INTEREST RATES SCENARIO

FLEXIBLE INVESTMENT STRATEGY ADAPTING TO CHANGING MARKET CONDITIONS

€bn unless otherwise stated

INVESTMENT PORTFOLIO REVENUES¹

• Investment portfolio has been structured to reap the benefits of increasing interest rates
• Proactive management actions on portfolio structure to stabilise yields in the medium/long term
• Retail deposits growth mirroring commercial focus on savings and investment products

revenues

Baseline

Shock

SENSITIVITY ANALYSIS

REVENUE TARGETS ACHIEVABLE ALSO IN UNFAVORABLE MARKET SCENARIOS

Gross unrealized capital gains

Baseline

Shock

Baseline

Shock

FINANCIAL TARGETS AND KPIs

€bn unless otherwise stated

	2022	2023	2024	2026	2028	CAGR 23-28
GROSS REVENUES	5.76	6.09	6.1	6.5	7.0	+3%
EBIT1	0.89	0.86	0.8	0.8	0.9	0%
TFA	576	581			624	>1%

	2022	2023	2024	2026	2028
COVERAGE OF AFFLUENT+ CLIENTS	32%	32%	45%	>70%	>80%
% OF SPECIALISED FINANCIAL ADVICE ON TARGET CLIENTS	47%	50%	53%	>70%	>80%

CONTENTS

CLOSING REMARKS

A new commercial service model to optimise coverage, maximising value per client

Focus on Savings and Investments revamping Postal savings offer and proactive portfolio rebalancing

Group omnichannel strategy to further enhance customer experience leveraging on digital and new SuperApp

Growing investment portfolio revenue stream with greater visibility under different market scenarios

The most transparent, most locally present, best priced and client-oriented manager of assets of all Italians

POSTE ITALIANE 2024 – 2028 STRATEGIC PLAN

THE CONNECTING PLATFORM

ROME, 20 MARCH 2024

Andrea Novelli INSURANCE SERVICES

CONTENTS

KEY ACHIEVEMENTS

IMPROVED PROFITABILITY AND RESILIENCY – EXPANSION IN THE FAST-GROWING PROTECTION MARKET

€bn unless otherwise stated

68 1. Excluding Solvency II transitional measures (equal to 0 in 2023); 2. In 2022 a 100 bps spread increase would have triggered the country volatility adjustment, not triggered in 2023; 3. Negative impact on Solvency ratio assuming a +100 bps increase of the spread; 4. Remittance ratio: dividend paid by Poste Vita to Poste Italiane on accrual basis; 5. Average Life Investments & Pension technical provisions including provisions for outstanding claims; 6. Yearly average for 2017-'22; 7. Includes third-party motor offer and Life Protection GWP

CONTENTS

SUPPORTIVE MACRO AND MARKET TRENDS

LONG-TERM MARKET TRENDS FAVOURING GROWTH BOTH IN INVESTMENTS AND PROTECTION BUSINESS

	Moderate increase of Italian GDP1 expected Ongoing normalisation of inflation		Financial wealth and disposable income of Italian households expected to grow
MACRO	End of zero interest rates policies		More favourable environment for Life Investments & Pension business
	Returns of insurance based investment products catching up with other competing investment products		Life Investments & Pension market gradually stabilising
INSURANCE MARKET	P&C non motor penetration still low in Italy at 1.1% vs Europe at 2.3%2 with increasing protection		Higher demand for personal insurance (health and property)

propensity in post-Covid world

A LEADING FULLY-FLEDGED INSURANCE GROUP

RESILIENT AND PROFITABLE LIFE INVESTMENTS & PENSION BUSINESS, PROTECTION BUSINESS POSITIONED FOR GROWTH

1. Excluding former Eurovita/Cronos portfolio portfolio to be potentially acquired through the unwinding of Cronos; 2. Brokers and agents for employee benefits business; 3. Net profit on average Solvency Capital Requirement

THE KEY PILLARS OF 2024 – '28 STRATEGY

GROWTH DRIVERS FOR A SUSTAINABLE PROFITABILITY

& Pension

Insurance

LIFE INVESTMENTS & PENSION

RESILIENT RESULTS THROUGH THE CYCLE – OUTPERFORMING THE MARKET

1. Source: ANIA; Including Life Protection, Italian + non-EU insurance companies operating in Italy; 2. Source: ANIA

LIFE INVESTMENTS & PENSION

KEY SUCCESS FACTORS

Life Investments & Pension

Protection and Open Insurance

Life Investments Protection and Open

& Pension

Insurance

LIFE INVESTMENTS & PENSION

SUSTAINABLE GROWTH AND MARGIN IMPROVEMENT THROUGH THE PLAN

1. Includes release of contractual service margin, risk adjustment, expected claims and other directly attributable expenses on average Life Investments & Pension provisions, net of volatile components; 2. Commissions expected on new business (average 2024-'28); 3. Average Life Investments & Pension technical provisions including provisions for outstanding claims

& Pension

Insurance

LIFE INVESTMENTS & PENSION

MARKET CONDITIONS ALLOWING HIGHER RETURNS WITH A CONSERVATIVE RISK PROFILE

76 1. Average re-investment yields for the fixed income portfolio related to general account assets: Posta ValorePiù & Poste Vita Valore Solidità, >90% of Class I technical provisions 2. Related to general account assets: Posta ValorePiù & Poste Vita Valore Solidità, >90% of Class I technical provisions

Protection and Open Insurance

Life Investments & Pension

POSTE VITA ESG JOURNEY

SUSTAINABLE FINANCE AS A PILLAR OF THE GROUP'S ESG STRATEGY

Insurance

& Pension

PROTECTION

SIGNIFICANT GROWTH THANKS TO CROSS SELLING - BUSINESS MIX SHIFTING TOWARDS MORE PROFITABLE PRODUCTS

1. Poste Assicura, Poste Vita Protection, Net Insurance and motor insurance distribution through Poste Insurance Broker; 2. Poste Assicura, Poste Vita Life Protection, Net Insurance (excluding motor insurance, as Poste Vita doesn't take any underwriting risk on that business)

Life Investments & Pension

Protection and Open Insurance

OPEN INSURANCE

1

PROTECTION GROWTH FURTHER BOOSTED FROM NET INSURANCE COMPLEMENTARY BUSINESS MODEL

CPI ON SALARY-BACKED LOANS PROTECTION BANCASSURANCE A VARIETY OF THIRD-PARTY NETWORKS

Market leader with c. 30%¹ market share

Strategic partnership with #1 bank² in salary-backed loans through a minority stake in Net Insurance

Distribution through regional third-party banks with >1,000 branches and strong local footprint Multi-service brands and insurtech players

Brokers and agencies for specialty lines

STEADY GROWTH WITH BEST-IN-CLASS PROFITABILITY

STRONG GROWTH BOOSTED ALSO BY NEW DISTRIBUTION AGREEMENTS

HIGH POTENTIAL

1. Source: Assofin; 2023 figures calculated on number of transactions; 2. Source: Assofin; 2022 figures, ranking by new business

SOLVENCY CAPITAL

STRONG SOLVENCY RATIO THROUGH THE CYCLE – NEW POSTE VITA REMITTANCE POLICY TO GROUP'S HOLDING COMPANY

80 1. Net of foreseeable dividend (to be paid in 2024 based on 2023 net profit); 2. Remittance ratio: dividend paid by Poste Vita to Poste Italiane on an accrual basis; 3. On an accrual basis, to be paid in 2024 to parent company; 4. 2028 remittance on an accrual basis, to be paid in 2029 to parent company

FINANCIAL TARGETS

	2023	2024	2026	2028	CAGR 23-28
SEGMENT REVENUES	1.6	1.6	1.8	1.9	+4%
LIFE INVESTMENTS & PENSION	1.4	1.4	1.5	1.6	+3%
PROTECTION	0.1	0.2	0.2	0.3	+15%
EBIT1	1.4	1.4	1.5	1.6	+3%
NET INCOME	1.0	0.9	1.0	1.1	+2%

1. Excluding systemic charges related to the new insurance guarantee fund currently estimated at c.60m on average per year over the plan period

CONTENTS

CLOSING REMARKS

Proven track record of strong growth in excess of financial targets

Long-term macro and market trends supporting the business

Resilient and sustainable Investments and Pension business, outperforming the market

Fast-growing and profitable Protection business, further accelerated by recent M&A

Very strong and less volatile Solvency ratio allowing for up to 100% remittance ratio

Steady expected revenues and EBIT growth

POSTE ITALIANE 2024 – 2028 STRATEGIC PLAN

THE CONNECTING PLATFORM

ROME, 20 MARCH 2024

Laura Furlan POSTEPAY SERVICES

CONTENTS

KEY ACHIEVEMENTS

A PAYMENTS AND EVERYDAY NEEDS ECOSYSTEM WITH A TRACK RECORD OF OVERDELIVERING ON TARGETS

POSTEPAY EVERYDAY ECOSYSTEM PAYMENTS TELCO & ENERGY

OMNICHANNEL PLATFORM

(since launch)

CONTENTS

PILLARS OF THE POSTEPAY OMNICHANNEL STRATEGY

CONNECTING SERVICES FOR CLIENTS' EVERYDAY NEEDS AND DEVELOPING THE OPEN PAYMENT ECOSYSTEM

• Unique selling proposition leveraging on an unmatched ecosystem (payments, telco and energy)
• Poste Italiane's omnichannel platform and AI data driven campaign tools
• Framework Connect to boost cross-selling opportunities rewarding purchases of multiple services

CONNECT EVERYDAY CUSTOMER NEEDS FULLY DEVELOP AN OPEN PAYMENT ECOSYSTEM

• Boost "on-us transaction" value through digital payments (e-commerce, P2P, NFC² )
• Open payment ecosystem enabling third-party accounts and cards
• SuperApp digital payment wallet as the check-out of choice

new contracts 2024-'28 >15m ¹ 16m SuperApp digital payment wallets in 2028

ENABLING

POSTEPAY AT THE CORE OF THE TECH TRANSFORMATION

KEY CONTRIBUTOR TO POSTE ITALIANE CUSTOMER KNOWLEDGE, FULLY ENABLED BY THE GROUP TECH PLATFORM

PAYMENTS STRATEGY

SUPPORTIVE MARKET TRENDS AND UNIQUE OPPORTUNITIES

CONSOLIDATING OUR LEADERSHIP BY LEVERAGING ON STRUCTURAL DIGITAL PAYMENTS GROWTH

STRUCTURAL MARKET TRENDS

• Cash-to-card shift: 29.6m Postepay cards with 60% untapped transaction value
• E-commerce: strong leadership in a fast-growing market

UNIQUE POSTEPAY OPPORTUNITIES

• Postepay Evolution: 10m IBAN-backed cards with high average balances and loyal clients, ensuring recurring fees
• New revenue streams: tapping into fast-growing trends (subscription and P2P)
• Multi rail payment platform: integrating different payment methods and channels according to market evolutions

POSTEPAY KPIs

Source: Osservatorio Innovative Payments Estimates – Internal Estimates based on Globaldata, Euromonitor, Cerved; 1. Source: The European House Ambrosetti. 25th rank out of 27 EU countries in Cashless Society Index 2023. Ranking based on 16 KPIs grouped in two areas: "Enabling factors (e.g. POS/ATM distribution) and "Payment status" (e.g. number/value of card transactions, e-commerce); 2. Including payments, top-ups and withdrawals

P O S T E P A Y S E R V I C E S INSTANT OPEN PAYMENT ECOSYSTEM AT A GLANCE

THE SUPERAPP DIGITAL PAYMENT WALLET AT THE CORE OF THE NEW POSTE ITALIANE SUPER APP

SUPERAPP DIGITAL PAYMENT WALLET: THE CHECKOUT CHOICE OF ITALIANS, CONNECTING RETAIL AND MICRO-SMALL BUSINESS ECOSYSTEMS

Payments Telco Energy

DEVELOPING THE HOME SERVICES ECOSYSTEM: TELCO

TELCO GROWTH DRIVEN BY LOYAL CLIENT BASE AND ADOPTION OF NEW TECHNOLOGIES

CAPTURING ULTRA BROADBAND CONNECTIVITY GROWTH LEVERAGING ON LOYAL CUSTOMER BASE AND NETWORK REACH

Payments Telco Energy

DEVELOPING THE HOME SERVICES ECOSYSTEM: ENERGY

USER-FRIENDLY POWER AND GAS OFFER FOR AN ATTRACTIVE ADDRESSABLE MARKET

SIMPLE, TRANSPARENT, USER-FRIENDLY CONDITIONS WITH FIXED MONTHLY INSTALMENTS

of Italians' power contracts are under

regulated market regime ("maggior tutela")¹

• Offer well received by the market, with >500k energy contracts signed
• Above 50% quotes to contract conversion rate
• Yearly sales target 7% of addressable market, with potential upside from termination of regulated market

Contracts, stock 2028

Contracts, stock 2028 vs 2023

POSTEPAY KPIs

Payments Telco Energy

Market share 2028²

POSTEPAY'S CONTRIBUTION TO THE GROUP'S GREEN STRATEGY

PRODUCTS AND INITIATIVES TO RAISE AWARENESS AND REWARD CUSTOMER 'GREEN BEHAVIOURS'

INNOVATION AND DIGITALISATION TO SUPPORT POSTE ITALIANE IN DRIVING ITALY'S SUSTAINABILITY PATH

			2022	2023	2024	2026	2028	CAGR 23-28
PAYMENTS		ISSUING TRANSACTION VALUE (€BN)	71.4	80.3	89	109	>130	+10%
		OF WHICH E-COMMERCE	20.5	24.3	28	34	42	+11%
		TOTAL TRANSACTIONS (#BN)	2.3	2.7	3.0	3.7	4.6	+11%
		OF WHICH E-COMMERCE	0.5	0.6	0.7	0.9	1.1	+13%
		SUPERAPP DIGITAL PAYMENT WALLET STOCK (#M)	10.7	12.0	13.0	14.8	16.0	+6%
	TELCO
	MOBILE & LAND-LINE STOCK (#M)	4.8	4.7	4.9	5.2	5.5	+3%
ENERGY
	CONTRACTS, STOCK (#M)	0.04	0.35	0.8	1.7	2.5	+48%

FINANCIAL TARGETS

€bn unless otherwise stated

	2022	2023	2024	2026	2028	CAGR 23-28
SEGMENT REVENUES1	1.13	1.45	1.6	1.9	2.2	+9%
EBIT	0.38	0.44	0.5	0.6	0.7	+9%
NET PROFIT	0.27	0.34	0.4	0.4	0.5	+8%

CONTENTS

CLOSING REMARKS

Postepay: the everyday services ecosystem with a track record of overdelivering

Connecting payments and home services, leveraging on Poste Italiane's omnichannel platform

SuperApp digital payment wallet to connect retail and micro-small businesses

Revenue and EBIT robust growth supported by all Postepay products

POSTE ITALIANE 2024 – 2028 STRATEGIC PLAN

THE CONNECTING PLATFORM

ROME, 20 MARCH 2024

Camillo Greco CFO

OVERDELIVERING UNDER DIFFERENT MARKET ENVIRONMENTS CONSISTENTLY BEATING EBIT GUIDANCE

€bn unless otherwise stated

KEY FINANCIAL TARGETS

SUSTAINABLE PROFITABILITY AND STRONG CASH FLOW GENERATION SUPPORTING ENHANCED DIVIDEND POLICY

€bn unless otherwise stated

	2023	2024	2026	2028	CAGR 23-28
REVENUES	11.99	12.0	12.7	13.5	+c.3%1
EBIT2	2.62	2.7	2.9	3.2	+c.4%
NET PROFIT	1.93	1.9	2.0	2.3	+c.4%3
DIVIDEND PER SHARE (€)	0.80		≥1.0		+c. 7%
DIVIDEND PAYOUT	54%		≥65% over the plan

1. 2023 numbers exclude sennder and Covid related mandate for a total of 0.2bn for the computation of the CAGR; 2. Excluding systemic charges related to insurance guarantee fund, on average c.80m per annum over the plan period; 3. 2023 numbers exclude sennder and one-off bonus for the computation of the CAGR

2023-'28 REVENUE EVOLUTION

CONSTANTLY IMPROVING REVENUE QUALITY WITH INCREASING EXPOSURE TO GROWING MARKETS

€bn unless otherwise stated

1. Excluding sennder and Covid related mandate for a total of 0.2bn; 2. Other Financial includes financial services revenues excluding revenues from Payment slips, Postal savings and Investment portfolio; 3. Other MP&D includes MP&D revenues excluding mail, parcel & logistics

2023-'28 EBIT WALK

SOLID REVENUE GROWTH FROM ALL BUSINESS UNITS – MORE THAN OFFSETTING COST INCREASE

€bn unless otherwise stated

1. Excluding sennder and one-off bonus for a total of 0.02bn; 2. Other includes other costs and charges, Non-ordinary HR costs, credit risk adjustments and other; 3. Excluding systemic charges related to insurance guarantee fund, on average c.80m per annum over the plan period

MAIL, PARCEL & DISTRIBUTION

PARCEL AND LOGISTICS GROWTH OUTPACING MAIL DECLINE – PROFITABLE DIVISION THROUGH THE PLAN

1. Includes Philately, Patenti Via Poste, Poste Motori, Poste Welfare Service, AgileLab, Sourcesense, tax credit contribution and national vaccination plan related expense recovery; 2. Includes income received by Other Segments in return for use of the distribution network and Corporate Services and for reimbursement related to capex cost

MAIL PARCEL & DISTRIBUTION EBIT EVOLUTION

SUSTAINABILITY SUPPORTED BY PARCEL AND LOGISITCS GROWTH AS WELL AS NETWORK TRANSFORMATION

€bn unless otherwise stated

FINANCIAL SERVICES

ENHANCED SERVICE MODEL DRIVING TOP-LINE GROWTH

€bn unless otherwise stated

HIGHLIGHTS

• Investment portfolio revenues growing in a normalising interest rates scenario
• Proactive portfolio management to adapt to different market conditions
• Postal savings fees benefiting from renewed commercial focus and product range
• Consumer loans distribution fees growing thanks to increasing volumes in a normalising interest rates scenario
• Asset Management driven by customer portfolio diversification
• EBIT trend reflecting higher rebates driven by increasing network productivity

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. Excluding systemic charges related to insurance guarantee fund, currently estimated at c.20m on average per year over the plan period

INSURANCE SERVICES

STEADY GROWTH IN PROFITABILITY DRIVEN BY INCREASING VOLUMES AND MARGINS

€bn unless otherwise stated

HIGHLIGHTS

• Life Investments & Pension (LI&P):
  • Resilient net inflows and lapse rate expected across the plan
  • Revenues and profitability driven by growing volumes and increasing margins
• Protection:
  • GWP growth driven by increasing demand and low customer penetration
  • Profitability supported by mix further shifting towards retail and very limited exposure to NatCat risks

1. Includes Private Pension Plan (PPP); 2. Includes Poste Insurance Broker (PIB) net of claims; 3. Excluding systemic charges related to insurance guarantee fund, currently estimated at c.60m on average per year over the plan period; 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

POSTEPAY SERVICES

REVENUES AND OPERATING PROFIT DOUBLING SINCE 2022 – EVERYDAY ECOSYSTEM FULLY AT SCALE BY 2028

€bn unless otherwise stated

HUMAN CAPITAL - FTEs

CONTINUING WORKFORCE TRANSFORMATION TO IMPROVE PRODUCTIVITY

ORDINARY HR COSTS/REVENUES IMPROVING THROUGH THE PLAN

FACTORING IN HR-COST INFLATION WHILE PRESERVING PROFITABILITY

NON-HR COSTS

EFFECTIVE COST DISCIPLINE SUCCESSFULLY MITIGATING INFLATIONARY IMPACT

€bn unless otherwise stated

1. Excludes other non-HR costs. Numbers are restatd restated net of commodity price and pass-through charges of the energy business; 2. Refers to parcel, payments and telco; 3. Ratios calculated excluding IFRS17 impact; 4. Yearly average through the plan

c.€5.0BN GROUP FUNDED CAPEX OVER THE BUSINESS PLAN

CONTINUING TO INVEST IN DIGITALISATION AND SUPPORT BUSINESS TRANSFORMATION

1. Information & Communication Technology related projects 2. c.65% funded by the Italian government's Complementary Fund of the National Recovery and Resilience Plan; 3. c.0.1bn in 2023 and c.1.1bn across 2024-'26 (c.0.4bn of the total 1.1bn is self-funded); 4. Calculated on total Capex of 5.6bn (including Polis)

GROUP SHAREHOLDERS' EQUITY EVOLUTION

STRONG AND SUSTAINABLE CAPITAL GENERATION TO SUPPORT GROWTH AND DIVIDEND DISTRIBUTION

€bn unless otherwise stated

1. Shareholders equity net of revaluation reserves and taking into consideration the accrued dividend for the period; 2. Includes dividends paid to shareholders, treasury shares and hybrid remuneration

REINFORCED COMMITMENT TO A COMPELLING SHAREHOLDERS' REMUNERATION BACKED BY INCREASED VISIBILITY ON CAPITAL AND CASH FLOW GENERATION

€bn unless otherwise stated

Dividend coverage ratio² through the plan horizon >1.5x

• 2024-'28 dividend based on a
• Cumulated dividend of ≥6.5bn
• High diversification of dividend contribution from all subsidiaries /
• Increased visibility on group cash flow driven by better quality of

MAIL, PARCEL & DISTRIBUTION NET FINANCIAL POSITION

IMPROVING UNDERLYING CASH GENERATION AT GROUP HOLDING COMPANY LEVEL

€bn unless otherwise stated

1. Includes dividends from subsidiaries, dividends to shareholders and coupons on hybrid instruments

Ongoing

% capital acquired

GROUP MAIN SHAREHOLDINGS

KEY PARTNERS SUPPORTING GROWTH, EMBEDDING POTENTIAL UPSIDE

1. On a fully diluted basis, including impact of employee stock option plan and other dilutive instruments; 2. 24.5% of voting rights; 3. Directly held by Poste Italiane SpA; 4. Closing expected in April 2024

PERFORMANCE

2024 YTD PERFORMANCE ABOVE TARGETS

FINANCIAL AND COMMERCIAL RESULTS SHOW A STRONG START OF THE YEAR ACROSS ALL BUSINESSES

Mail	revenues	> LY / budget with positive mix (recorded mail)
Parcels	revenues	> LY / budget mainly driven by B2C
TFAs	Net retail inflows	Positive net flows supported by deposits, insurance and AuM growth
Consumer Loans Distribution	revenues	> LY / budget supported by salary backed loans
Protection	GWP	> LY / budget
Prepaid/ Debit Cards	Transaction value	> LY / budget
Energy	contracts	> LY / budget
Telco landline/fiber	contracts	> LY / budget

Ongoing focus on cost discipline

POSTE ITALIANE 2024 – 2028 STRATEGIC PLAN

THE CONNECTING PLATFORM

ROME, 20 MARCH 2024

Matteo Del Fante CEO

THE CONNECTING PLATFORM: CLOSING REMARKS

The largest phygital platform in the country supporting its socio-economic development

Proven track record of overdelivering under different market scenarios while successfully repositioning the Group to benefit from positive market trends

New Commercial Service model to maximise the value of our platform and transformation of our logistics business to ensure its long-term sustainability

Unmatched data analytics capabilities and continuous investments in IT to improve customer experience, enabling cross selling and customer loyalty

Reinforced commitment to shareholders' remuneration with a new dividend policy based on a dividend payout of minimum 65% and cumulated dividends of ≥€6.5bn through the plan