Telecom Italia Rsp — M&A Activity 2023

Oct 16, 2023

Press Release

TIM: BINDING OFFER ON NETCO RECEIVED FROM KKR

Rome, 16 October 2023

TIM announces that it has received today from Kohlberg Kravis Roberts & Co. L.P. ("KKR") the binding offer on NetCo, relating to TIM's fixed network business, including FiberCop.

Regarding TIM's stake in Sparkle, KKR has formulated a new non-binding offer, pending the transmission of a binding offer within 4/8 weeks, at the end of the ongoing due diligence activities, and requesting an exclusivity period until next 20 December.

The offer on NetCo expires on 8 November, subject to the possibility of discussing the terms of further extensions until next 20 December.

As soon as the analysis will be finalised, the binding offer will be brought to the Board of Directors' consideration without delay.

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

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