Unidata

Earnings Release • May 13, 2025

THE BOARD OF DIRECTORS APPROVED THE INTERIM MANAGEMENT REPORT OF THE UNIDATA GROUP AS OF 31 MARCH 2025

MARGINALITY IMPROVED YOY THANKS TO GREATER MANAGEMENT EFFICIENCY

NET FINANCIAL DEBT DECREASED DUE TO GOOD OPERATING CASH GENERATION

START OF THE TREASURY SHARE PURCHASE PROGRAM

Unidata Group'sconsolidated key figures

• Total revenues: € 25.5 million (€ 25.3 million in Q1 2024) +1% YoY
• Adjusted EBITDA: € 7.3 million (€ 7.0 million in Q1 2024) +5% YoY
• Adjusted EBITDA Margin: 28.8% (27.7% in Q1 2024) +113 bps
• EBIT: € 4.6 million (€ 4.4 million in Q1 2024) +4% YoY
• EBIT Margin: 17.9% (17.4% in Q1 2024) +51 bps
• Investments: € 1.3 million
• Net Financial Debt: € 38.2 million (€ 43.8 million as of 31 December 2024)
• Number of customers: +4% compared to 31 December 2024
• Km of optical fiber: +200 km compared to 31 December 2024, reaching approximately 7,800 km

Roma, 13 May 2025 – Unidata S.p.A. (UD.MI), a telecommunications, cloud and IoT services operator, listed on the Euronext Milan market – STAR Segment, organised and managed by Borsa Italiana S.p.A., announces that the Board of Directors, which met on today's date under the chairmanship of Renato Brunetti, examined and approved the Interim Management Report of the Unidata Group as of 31 March 2025, drawn up in accordance with the International Accounting Principles IAS/IFRS.

Renato Brunetti, Chairman and CEO of Unidata, stated: "The results of the first quarter confirm the validity of the strategy focused on services, with a positive impact on margins and a robust cash generation that has improved the NFP. At the same time, our commitment to the IoT sector continues successfully; in these first three months, in fact, we have managed to win three tenders in the Emilia Romagna and Tuscany regions for

UNIDATA S.p.A.

Sede legale Roma Milano Bari unidata@pec.unidata.it Viale A. G. Eiffel 100 Viale E. Jenner 33 Viale delle Dalie 5 info@unidata.it

the assignment of the design, construction and management of remote reading networks based on LoRaWan® technology. On the joint venture front, however, we are satisfied with the continuation of the activities for laying the Unitirreno cable, which began inFebruary with the Fiumicino milestone and continued with the Olbia and subsequently Mazara del Vallo stages. This infrastructure aims to connect the north and south of Italy, offering an innovative alternative to traditional data transit routes through Marseille and, in addition to meeting national needs, the project is a candidate to become a digital corridor between Europe and Africa, responding to the growing demand for connections also on the African continent. As for Unifiber, we have recently concluded a strategic transaction with the consolidation, within a single corporate structure, Unifiber Italy, of the Unifiber and ClioFiber projects, marking an important step in our consolidation path in the digital infrastructure sector. Finally, we hope that the coming months will allow us to further improve our performance and seize new opportunities".

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MAIN CONSOLIDATED ECONOMIC AND FINANCIAL DATA AS OF 31 MARCH 2025

Total consolidated revenues, equal to € 25.5 million, are slightly up (+1%) compared to the first 3 months of 2024 (€ 25.3 million), confirming the breakdown of revenues by business area as highlighted in the table below.

EBITDA is approximately € 7.3 million (+5% compared to € 7.0 million in the first 3 months of 2024) with an EBITDA Margin of 28.8% (27.7% in the first 3 months of 2024). This improvement is essentially linked to more efficient management of operating costs.

Operating Income (EBIT), equal to € 4.6 million, recorded an increase of 4% compared to the first 3 months of 2024 (€ 4.4 million) with an EBIT Margin equal to 17.9% (17.4% in the first 3 months of 2024).

The Earnings Before Taxes (EBT), equal to € 3.6 million, increased by approximately 11% compared to the result recorded in the first 3 months of 2024 (€ 3.3 million).

During the first 3 months of 2025, Investments of approximately € 1.3 million were made, divided into € 0.2 million in intangible assets and € 1.1 million in tangible assets, mainly connected to the infrastructure area.

UNIDATA S.p.A.

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Net Financial Debt, for ESMA purposes, is equal to € 38.2 million, a significant decrease compared to € 43.8 million as of 31 December 2024, thanks to the good generation of operating cash and the release of the secured deposit equal to € 2.4 million, which occurred in January.

Net Equity as of 31 March 2025 is € 75.5 million compared to € 73.0 million as of 31 December 2024.

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REVENUES BY BUSINESS AREAS

Thousands of €	Q1 2025	Q1 2024	Change	%
Consumer	1,566	1,199	367	31%
Business	5,830	5,619	211	4%
of which recurring	5,561	5,300	261	5%
of which project	269	319	-50	-16%
Wholesale	742	313	429	137%
of which recurring	95	184	-89	-48%
of which project	647	129	518	402%
Public Administration	1,800	3,077	-1,277	-42%
of which recurring	110	92	18	20%
of which project	1,690	2,985	-1,295	-43%
Reseller	7,482	7,706	-224	-3%
Voice Trading and voice network	1,710	1,209	501	41%
Service Revenues	19,130	19,124	6	0%
Infrastructure Revenues	5,920	5,669	251	4%
Deferred income	346	210	136	65%
Other income	54	272	-218	-80%
Total	25,450	25,275	175	1%

Service

The Service revenuesline, which recorded a result in line YoY, includes:

• revenues relating to the main business lines (Fiber & Networking, Datacenter & Cloud and IoT & Smart Solutions) divided by type of customer (Consumer, Business, Wholesale and PA);

UNIDATA S.p.A.

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• revenues relating to direct and indirect sales through resellers of the Group's services and to network and voice trading services.

Infrastructure

The Infrastructure revenuesline, which recorded a decrease of 4%, includes:

• revenues relating to the activity of granting I.R.U. (Indefeasible Right of Use) concession rights to other operators on the fiber optic network infrastructure created by Unidata. This granting of rights was accounted for as a real transfer of the infrastructure, consistently with the provisions of the accounting standard IFRS 16;
• revenues for the construction of telecommunications infrastructures attributable to the works connected to the Unifiber project.

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CUSTOMERS

The first quarter of 2025 confirms a growth in direct customers (+4%) compared to the previous financial year. Total direct customers as of 31 March 2025 are in fact equal to no. 28,624, compared to no. 27,593 as of 31 December 2024. The increase concerns all the main categories of customers; in particular, the Business customer market records an increase of 2%, while the Consumer customer sector records an increase of 4%. The number of whitelabel lines activated through the partner network records an increase compared to December 31, 2024, reaching 34,225 active lines as of March 31, 2025 (of which 317 international).

Below is an explanatory table of the calculation of ARPU (Average Revenue Per User) broken down by main customer categories and compared with the data from the previous financial year.

	Q1 2025		FY 2024		% Change
Type of customers	Number of Customers	ARPU	Number of Customers	ARPU	Number of Customers	ARPU
Consumer	23,434	22	22,529	21	4%	5%
Business	5,190	349	5,064	396	2%	-12%
Total	28,624		27,593		4%

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UNIDATA S.p.A.

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FIBER OPTIC INFRASTRUCTURE EXTENSION

During the first 3 months of 2025, the fiber optic network was extended for approximately 200 km using proprietary cables, reaching a total extension of approximately 7,800 km by 31 March 2025. Unidata's fiber optics present in the buildings represent a coverage of over 484,000 residential and business Real Estate Units (UI), also in various industrial and management districts.

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SIGNIFICANT EVENTS OCCURRED DURING THE FIRST 3 MONTHS OF 2025

On 3 February 2025, Unidata announces that the laying of the cable of Unitirreno strategic submarine infrastructure took place in Fiumicino. The digital infrastructure will connect Sicily (Mazara del Vallo) to Liguria (Genoa), passing through Roma-Fiumicino and Olbia, making these locations true strategic hubs in the heart of the Mediterranean.

On 19 February 2025, Unidata announced that Unitirreno has signed a financing agreement with Intesa Sanpaolo, also as Agent Bank, and Banco BPM for an amount of € 57 million and a duration of 4 years. The investment is intended for the construction of a submarine fiber optic infrastructure, which will connect Mazara del Vallo to Genoa, with a hub near Roma-Fiumicino and one in Olbia.

On 10 March 2025, Unidata announces that it has been awarded three contracts by SorgeAqua S.r.l, ASA S.p.A. and the Municipality of Zeri for the assignment of the design, construction and management of remote reading networks based on LoRaWan® technology. These projects respond to the need to reduce losses in water distribution networks, digitize and monitor the networks themselves.

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SIGNIFICANT EVENTS OCCURRED AFTER THE END OF THE FIRST 3 MONTHS OF 2025

On 10 April 2025, Unidata announced the completion of the strategic reorganization transaction through the transfer of the shareholdings held by Unidata and Connecting Europe Broadband Fund (CEBF) in ClioFiber S.r.l. and in Unifiber S.p.A. to the company Unifiber Italy S.r.l.. The underlying rationale lies in the implementation of a new project aimed at expanding and strengthening the strategic partnership between Unidata and the CEBF fund.

On 29 April 2025, Unidata announces that the cable laying of the Unitirreno strategic submarine infrastructure, a digital infrastructure of strategic importance that will connect Sicily to Liguria, took place in

UNIDATA S.p.A.

Viale A. G. Eiffel 100 Viale E. Jenner 33 Viale delle Dalie 5 info@unidata.it

Sede legale Roma Milano Bari unidata@pec.unidata.it

Mazara del Vallo. The section of cable laid in Mazara del Vallo represents a crucial piece of a broad process of digital transformation and evolution.

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FORESEEABLE EVOLUTION OF MANAGEMENT

The first 3 months of 2025 were characterized by good economic and financial results for the Group with a clear increase in margins and a goodimprovement in net financial debt. During 2025, the Group will continue along the growth path outlined in the 2025-2027 Industrial Plan, continuing to focus on some key areas with high added value in expanding markets, where it is already active, such as Datacenters, Cybersecurity, IoT and Smart Cities. Furthermore, the activities and investments related to the Joint Ventures, Unifiber Italy and Unitirreno, which already achieved important goals during the first quarter, will continue.

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On the same date, the Board of Directors also resolved to start the share buyback program in accordance with the terms, conditions and purposes set out in the resolution of the Ordinary Shareholders' Meeting of 8 May 2025 (the "Program").

The Company has conferred a mandate to Intermonte SIM S.p.A. as an independent intermediary, to execute the share buyback program, which will carry out the purchases in full independence and in compliance with the constraints arising from the applicable legislation, including Regulation (EU) no. 596/2014 (the "MAR"), as well as within the limits of the resolution of the Shareholders' Meeting.

The details of the Programme are provided below pursuant to the CONSOB Regulation adopted with Resolution no. 11971/1999 (the "Issuers Regulation") and Delegated Regulation (EU) 2016/1052.

Purpose of the Program

The main objectives underlying the Program are the following: (i) to carry out activities to promote liquidity and manage the volatility of the stock market price of the Company's shares and, in particular, to intervene in the context of contingent market situations, facilitating trading on the stock in times of low liquidity on the market and promoting the regular progress of trading and, in any case, within the limits set by the current legislative and regulatory provisions, as well as, where applicable, in accordance with the market practice permitted pursuant to art. 180, paragraph 1, letter c), of the TUF relating to the activity of supporting market liquidity; (ii) in the context of actions connected to future industrial and financial projects consistent with the

UNIDATA S.p.A.

Viale A. G. Eiffel 100 Viale E. Jenner 33 Viale delle Dalie 5 info@unidata.it

Sede legale Roma Milano Bari unidata@pec.unidata.it

strategic lines that the Company intends to pursue also through exchange, swap, contribution, transfer or other act of disposal of treasury shares for the acquisition of shareholdings or share packages, for industrial projects or other extraordinary financial transactions that imply the assignment or disposal of treasury shares (such as, by way of example, mergers, demergers, bond issues convertible into shares, liquidation of shares on the market for financial structure optimization operations); (iii) pursue an efficient use of the liquidity generated by the Company's core business, including through medium and long-term investment in its own shares; and (iv) implement the remuneration policies adopted by the Company and specifically fulfill the obligations arising from the compensation plans based on financial instruments pursuant to art. 114-bis of the TUF already adopted by the Company and any other plans that may be approved in the future, including any programs for the free allocation of shares to Shareholders.

Operating methods and trading venue

The purchase transactions will be carried out on the regulated market Euronext Milan, organized and managed by Borsa Italiana S.p.A. through the authorized intermediary Intermonte SIM S.p.A. appointed to implement the Program, which will operate in full independence according to operating methods suitable to ensure equal treatment of shareholders established by the current and applicable legal and regulatory provisions (including, without limitation, art. 2357 of the Civil Code, art. 132 of the TUF, art. 144-bis, paragraph 1, letter b) of the Issuers Regulation and the provisions of the Regulation of the Markets organized and managed by Borsa Italiana S.p.A.).

Maximum number of treasury shares and maximum disbursement

The maximum number of treasury shares to be purchased through the execution of the Program, in one or more tranches, will in any case not exceed 10% of the share capital of the Company on the date of the Shareholders' Meeting of 8 May 2025, pursuant to art. 2357 and 2357-ter of the Civil Code.

Minimum and maximum consideration and quantity of shares purchased

Purchases of treasury shares will be made at a price no higher than the higher of (i) the price of the last independent trade and (ii) the price of the highest current independent tender offer on the trading venue where the purchase is made. The quantity of shares purchased on each trading day will not exceed 25% of the average daily volume of common shares traded on the trading venue where the purchase is made, calculated on the basis of the average daily trading volume in the 20 trading days preceding the date of purchase.

UNIDATA S.p.A.

Viale A. G. Eiffel 100 Viale E. Jenner 33 Viale delle Dalie 5 info@unidata.it

Duration of the Program

The Board of Directors has established – in implementation of the authorization to purchase and dispose of treasury shares granted by the Shareholders' Meeting of 8 May 2025 – that the Program will start on today's date and will last until all the shares covered by the Program have been purchased and, in any case, no later than 18 months after approval by the Shareholders' Meeting of 8 May 2025. The purchase of shares may however be partially implemented, interrupted and/or revoked at any time, subject to the due timely communications to the market in the manner and within the terms established by the applicable legislation.

It should be noted that the Programme is not intended to involve any capital reduction operation.

The Company will communicate the transactions carried out under the Programme to CONSOB and to the market, including through publication on its website, within the terms and in the manner set out in the regulatory legislation in force.

As of today, the Company holds a total of 660,681 ordinary shares of Unidata S.p.A., equal to 2.1391% of the share capital.

Any subsequent changes to the Program will be promptly communicated by the Company.

For further information on the terms and conditions of the authorization to purchase and dispose of treasury shares, please refer to the website investors.unidata.it in the Governance/Shareholders' Meeting section.

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The Manager in charge of preparing the corporate accounting documents of Unidata S.p.A., Mr. Roberto Giacometti, certifies, pursuant to art. 154-bis, paragraph 2, of Legislative Decree 58/98 that the accounting information contained in this press release corresponds to the documentary findings, books and accounting records.

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Finally, it should be noted that the attached income statement and balance sheet represent reclassified schemes and as such are not subject to verification by the auditors.

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UNIDATA S.p.A.

Viale A. G. Eiffel 100 Viale E. Jenner 33 Viale delle Dalie 5 info@unidata.it

This press release may contain forward-looking elements regarding future events and results of Unidata S.p.A. which are based on current expectations, estimates and projections about the industry in which the Company operates, on events and on the current opinions of management. These elements by their nature have a component of risk and uncertainty because they depend on the occurrence of future events and on a multiplicity of factors, many of which are outside the control of Unidata, including global macroeconomic conditions, changes in business conditions, further deterioration of markets, impact of competition, political, economic and regulatory developments in Italy.

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This press release is available on Borsa Italiana, on the storage mechanism () and on the Company's website www.unidata.it in the Investors/Press Releases section.

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For further information: UNIDATA S.p.A. Roberto GIACOMETTI CFO ed Investor Relations Officer +39 329 2478696 roberto.giacometti@unidata.it

Investor Relations Advisor Media Relations CDR COMMUNICATION CDR COMMUNICATION Silvia DI ROSA Stefania TREVISOL +39 335 78 64 209 +39 347 87 82 490 silvia.dirosa@cdr-communication.it stefania.trevisol@cdr-communication.it Eleonora NICOLINI

+39 333 97 73 749 eleonora.nicolini@cdr-communication.it

Specialist

INTERMONTE SIM SPA Galleria de Cristoforis, 7/8, 20122 Milano Tel +39 02 771151

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UNIDATA S.p.A.

Viale A. G. Eiffel 100 Viale E. Jenner 33 Viale delle Dalie 5 info@unidata.it

Unidata S.p.A., a Telecommunications, Cloud and IoT Operator, was founded in 1985 by three partners still in the Company. With a fiber optic network of about 7,800 km in continuous expansion, a wireless network and a proprietary data center, the Unidata Group supplies over 28,600 business, wholesale and residential customers with ultra-broadband connectivity services with FTTH (Fiber to the Home) network architectures, wireless connectivity, VoIP services, Cloud services and other dedicated solutions, with a high level of reliability and security. The company is also active in the Internet of Things (IoT), with the development and supply of solutions for the home automation and Smart City market. Unidata S.p.A. ISIN CODE: IT0005573065 (Reuters UD MI - Bloomberg UD IM) is listed on Euronext Milan – STAR segment of Borsa Italiana.

Attachments:

• Consolidated Financial situation as of 31 March 2025
• ConsolidatedIncome statement as of 31 March 2025
• Consolidated Net Financial Position as of 31 March 2025
• Consolidated Cash flow statement as of 31 March 2025

UNIDATA S.p.A.

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CONSOLIDATED FINANCIAL SITUATION AS OF 31 MARCH 2025

Values in thousands of euros	As of 31 March 2025	As of 31 March 2024
Intangible fixed assets	62,615	63,602
Tangible fixed assets	61,348	61,838
Financial fixed assets	8,799	9,091
Other non-current assets	5,613	8,013
TOTAL NON-CURRENT ASSETS	138,375	142,544
Inventories	3,608	3,144
Trade receivables	22,879	27,776
Other receivables	8,797	7,879
Cash and cash equivalents	10,571	4,850
TOTAL CURRENT ASSETS	45,855	43,649
TOTAL ASSETS	184,230	186,193
TOTAL NET EQUITY	75,604	72,991
Employees benefits	2,757	2,684
Non-current financial liabilities	37,181	37,593
Other non-current liabilities	14,774	15,054
TOTAL NON-CURRENT LIABILITIES	54,712	55,331
Trade payables	23,482	28,607
Current financial liabilities	11,882	11,270
Other current liabilities	18,550	17,994
TOTAL CURRENT LIABILITIES	53,914	57,871
TOTAL LIABILITIES	184,230	186,193

UNIDATA S.p.A.

Viale A. G. Eiffel 100 Viale E. Jenner 33 Viale delle Dalie 5 info@unidata.it

CONSOLIDATED INCOME STATEMENT AS OF 31 MARCH 2025

Values in thousands of euros	As of 31 March 2025	As of 31 March 2024
TOTAL REVENUES	25,450	25,275
Total Costs	18,117	18,277
EBITDA EBITDA Margin	7,333 28.8%	6,998 27.7%
Amortisation	2,768	2,593
EBIT EBIT Margin	4,565 17.9%	4,405 17.4%
Total Financial Income and Charges	948	1,137
EARNINGS BEFORE TAXES	3,617	3,268

UNIDATA S.p.A.

Viale A. G. Eiffel 100 Viale E. Jenner 33 Viale delle Dalie 5 info@unidata.it

CONSOLIDATED NET FINANCIAL DEBT AS OF 31 MARCH 2025

	31/03/2025	31/12/2024
Liquidity and other financial receivables	10,891	5,070
Current Financial Debt	11,882	11,270
Current Net Financial Debt	991	6,200
Non-current financial debt	37,181	37,593
Total financial debt	38,172	43,793

UNIDATA S.p.A.

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CONSOLIDATED CASH FLOW STATEMENT AS OF 31 MARCH 2025

	As of 31 March 2025	As of 31 March 2024
Cash Flow from operating activities	5,158	57
Cash flows from investing activities	-1,291	-4,774
Cash flows from financing activities	1,854	-1.650
Increase (decrease) in cash and cash equivalents	5,721	-6,367

UNIDATA S.p.A.

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