Telecom Italia Rsp — M&A Activity 2023

Feb 21, 2023

Press Release

TIM: NON-BINDING OFFER EXTENSION REQUEST RECEIVED FROM KKR

Rome, 21 February 2023

With reference to the indicative and non-binding offer submitted by KKR on 1 February 2023, following the press release of 6 February 2023, TIM informs that it has received a letter from KKR extending the deadline for such offer to 24 March 2023.

In particular, according to the letter, the extension of the deadline is due to a request by the Government to have an additional four weeks to carry out an analysis of the public aspects of the transaction concerning the powers exercisable by the Government in the sector.

However, KKR has confirmed its willingness to continue a constructive dialogue with TIM and to proceed with due diligence activities.

TIM confirms that its Board of Directors will in any case meet on 24 February 2023 to discuss KKR's non-binding offer and take the appropriate decisions.

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

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