Unidata

Investor Presentation • Jun 26, 2023

JUNE 2023

INVESTOR PRESENTATION

TODAY'S SPEAKERS

Renato Brunetti

Chairman & CEO

Expert in IT systems and software projects. In 1985, he founded Unidata together with two partners, guiding the company towards its new core business, sensing the potential offered by the Internet. President of the NaMeX Consortium and of Unifiber S.p.A. and CEO of Unitirreno S.p.A..

Roberto Giacometti

CFO & Investor Relations Officer

Expert in Administration, Finance, Planning and Control. He held the position of General Manager in several Italian and foreign companies and was Director of the National Secretariat of Agesci. In 2019, he joined Unidata and followed the listing process on EGM, the extraordinary operations and the translisting on EXM - STAR Segment

INDEX

COMPANY OVERVIEW

HISTORY

Foundation Unidata starts operating as an Hardware Provider

Unidata revolutionizes its core business and starts the activity of Internet Service Provider

Unidata was sold to Cable&Wireless and then reacquired

Beginning of the construction of the proprietary FTTH network and Data Center

Unidata extends its activities to Cloud services and Internet of Things

Listing on Euronext Growth Milan of Borsa Italiana

JV with CEBF to deploy high-quality FTTH networks in gray areas of Lazio

Agreement with Azimut to build a green neutral Tier IV data center in Roma

JV with Azimut to build 900 km of submarine optical fiber in the Tyrrhenian Sea

Unidata win the tender for the IoT system managing water meters in Palermo

Closing of the acquisition of TWT Group based in Milan and operating in all Italy

Listing on Euronext STAR Milan of Borsa Italiana

FIBER & NETWORKING

The Unidata Fiber Network infrastructure is concentrated in the most important cities of Lazio Region, where Unidata offers complete coverage of the territory with Gigafiber: direct FTTH (Fiber to the Home) connectivity (100% Fiber optic).

OVER 5,700 KM OF FIBER OPTIC CABLING

LAUNCH OF 10GB CONNECTIVITY IN ROME AND LAZIO, QUADRUPLING THE AVAILABLE SPEED

220,000 HOUSING UNITS SERVED IN 2022, WITH THE OBJECTIVE TO REACH MORE THAN 340,000 HOUSING UNITS IN 2025

CLOUD & DATA CENTER

The Unidata Data Center was built in line with the conditions required by certification standards Rating 4 (formerly TIER IV) with additional features to ensure the highest level of infrastructure security and reliable continuity of service provision.

The Data Center occupies a surface area of 800 squaremeters.

NEUTRAL COLOCATION – MULTI CARRIER

CLOUD SERVICES (IAAS, SAAS AND PAAS)

NETWORK SECURITY — MANAGED SERVICES DISASTER RECOVERY

IoT & SMART SOLUTIONS

LoRa™ is the new wireless technology to support IoT solutions wide communication range (several Km) to reach devices high penetration to reach any object wherever it is installed low power consumption (many years with a single battery) open standard to create private public collaborative network worldwide adopted with the largest marketplace

Unidata won the first tender in Italy for the implementation of the Automatic Meter Management System (AMAP), the water consumption monitoring system of the City of Palermo for an amount of Eu 2.7 million for a period of 36 months. The tender is part of React EU funds that will finance projects for a sustainable management of the water resource.

ADDITIONAL KEY SERVICES

In addition to the three main areas, Unidata develops some additional key services:

Fiber infrastructure construction

Unidata directly builds the fiber optic network for Unidata and Unifiber in some key areas, as for instance in the grey areas of Latium, Apulia, Molise.

Managed Services & Projects

Unidata works in projects regarding specific customers' requirements and events relating to the provision of support, design and consultancy services for Internet technologies and, more generally, for digital environments.

Ex. Project Bari - construction of a video surveillance implementation at the ASI Consortium of Bari

ACQUISITION OF TWT GROUP

ACQUISITION OF TWT GROUP

• Founded in 1995 in Milan, TWT Group is a primary Italian TLC, connectivity and ICT services operator specialized in the B2B segment¹
• TWT Group's vision is to become a recognized "atelier of telecommunications" with a bespoke B2B offering

1) Commitment to dismiss the majority of TWT's legacy voice trading business: run-off of base clients (i.e. customers/contracts with almost no gross margin) in order to focus on the most profitable

UNIDATA & TWT: STRONG COMPLEMENTARITY

INDUSTRIAL SYNERGIES 2023-2025

The acquisition of TWT Group will allow several business synergies and cost savings that will generate year by year a positive impact on EBITDA and EBITDA Margin:

Continuous growth of both Unidata and TWT core business in B2B channels

Sale of the offering of Unidata through the network of TWT dealers and TWT services to Unidata retail customers

Aggregation of Unidata and TWT network infrastructure lowering costs

Creation of a new advanced proposal in Cloud: multisite and with disaster recovery

Creation of a new commercial proposal in SD-WAN and Cybersecurity

Decrease low-margin voice trading business

Integration of operating structures for greater efficiency and cost savings avoiding replications

Scouting of new areas to develop infrastructure (from Unidata experience in Rome areas)

STRUCTURE OF THE TRANSACTION

MAIN PROJECTS

UNIFIBER (JV WITH CEBF)

Closing signed in 2020 with Connecting Europe Broadband Europe (CEBF)¹ and the activity started in 2H 2021.

FTTH access network implementation in "gray areas" without FTTH, localized in Lazio region. Unifiber owns the passive FTTH network.

1) CEBF (Connecting Europe Broadband Fund) is a fund sponsored by Cassa Depositi e Prestiti (IT), Caisse des Dépôts et Consignations (FR), KFW (DE), European Investment Bank, European Commission and other investors. For CEBF, this is the first investment in Italy.

FTTH FOR GRAY AREAS OF LAZIO

FINANCIAL STRUCTURE OF THE PROJECT

As of May 2023, Unidata already paid Eu 4.3 million out of its total equity investment.

UNITIRRENO (JV WITH AZIMUT)

Closing signed in 2023 with Azimut - Fondo Infrastrutture per la Crescita ESG¹ and the activity already started.

Submarine cable system in Tirreno Sea of about 900 km from Mazara del Vallo to Genova, with a junction point near Rome-Fiumicino and one in Sardinia.

1) Fondo Infrastrutture per la crescita – ESG is a fund established and managed by Azimut Libera Impresa, invests in social infrastructures in order to generate a positive and sustainable growth of the economy, environment and society with an ESG approach

THE SHORTEST AND MOST RELIABLE PATH TO NORTHERN EUROPE

FINANCIAL STRUCTURE OF THE PROJECT

As of May 2023, Unidata already paid Eu 5.5 million out of its total equity investment.

Unidata equity investment will be up to Eu 18 million, due to an option to increase its participation to own a majority stake.

UNICENTER (JV WITH AZIMUT)

Investment Agreement signed in 2022 with Fondo Infrastrutture per la Crescita - ESG¹ .

Green and neutral Tier IV datacenter in Rome about 20 MW and 3,200 rack capacity, for a total area of 20,000 sqm

1) Fondo Infrastrutture per la crescita – ESG is a fund established and managed by Azimut Libera Impresa, that aims to invest in social infrastructures in order to generate a positive and sustainable growth of the economy, environment and society with an ESG approach

FINANCIAL STRUCTURE OF THE PROJECT

As of May 2023, Unidata has not paid any amount of its total equity investment.

SUSTAINABILITY

UNIDATA: A BENEFIT COMPANY

IN THE LAST THREE YEARS, UNIDATA HAS ACCELERATED ITS JOURNEY TOWARDS SUSTAINABILITY

In 2022, Unidata became a Benefit Company and published its 1 st Impact Report and 3 rd ESG Report

Unidata developed its ESG Strategy based on 3 macro-purposes of common benefit:

Reducing climate-changing emissions and the energy consumption

Infrastructure of areas to resolve conditions of digital divide

SOCIAL GOVERNANCE

Protection of employees and attention to their training and well-being

RESULTS AND GOALS

ENVIRONMENTAL SOCIAL GOVERNANCE

Reduction of energy consumption and emissions

Results 2022

Total energy consumption: 2,525,216 kWh Consumption of energy from renewable sources: 2,389,868 kWh (94% of the total) Replacement of 60% of the fleet to hybrid and/or electric

Goals 2023

Reduction of data center energy consumption

by 10% for the same space used Maintaining at least 94% of renewable energy Improvement of the current photovoltaic system Replacement of 100% of the fleet in hybrid/electric

Wire gray and black fiber areas

Results 2022

New real estate units gray area (UniFiber): 43,092

New real estate units black area (Unidata): 71,334

Goals 2023

New real estate units gray area (UniFiber): 75,075

New real estate units black area (Unidata): 58,630

Ensure training consistent with individual needs

Goals 2023

Training for at least 80% of the company population

Training for executives and managers focused on soft skills

Goals 2023

Training for at least 80% of management

Measurement of corporate climate through surveys

Goals 2023

Carrying out initial analysis of the company climate and spreading results

KEY FINANCIALS

Financial Highlights FINANCIAL HIGHLIGHTS FY 2022 FY2021

+39%

Revenues 51.3 M€ vs 37.0 M€ in FY2021 +15%

EBITDA 16.2 M€ vs 14.1 M€ in FY2021 8.5 M€

NFP (cash negative) vs 2.2 M€ in FY2021

Customer Growth 17,187 vs 13,186 in FY2021

+30% +1,200km

Optical Fiber >5,450 km vs 4,239 in FY2021

STRONG REVENUES GENERATION DRIVEN BY CUSTOMERS INCREASE Financial Highlights FY2021

• Increasing volumes related to optical fiber infrastructure development
• Customer growth especially in Business & P.A. (+8% YoY) and Consumer (+35% YoY) segments

Revenues FY 2022 breakdown by line of business

1.783 1.977 2.190 2.297

2019A 2020A 2021A 2022A Business + P.A. Consumer

1) Fiber&Networking, Wholesale, Cloud&Datacenter, IoT&Smart Solutions constitute the category "Services revenues"

1

OUTSTANDING AND CONTINUOUS GROWTH (1/2)

• The improvement in EBITDA in FY 2022 is mainly due to the increase in network construction activity, which resulted in higher volumes (revenues +39% YoY) and higher EBITDA as a result
• Fiber & Networking business also increased compared to FY 2021 (revenues +17% YoY)

OUTSTANDING AND CONTINUOUS GROWTH (2/2)

1) Net income 2021 was impacted by extraordinary tax effect equal to ~Eu 1.8mn related to the revaluation of the infrastructure network

FINANCIAL HIGHLIGHTS Q1 2023 Financial Highlights FY2021

11.5 M€

Unidata Revenues + 27% vs 9.0 M€ in Q1 2022

11.4 M€

TWT Group Revenues¹ vs 14.1 M€ in Q1 2022

39.4 M€

Unidata Group NFP (cash negative) vs -4.4 M€ in FY2021

Unidata Group Customer Growth 23,244 vs 18,840 in FY2021

+23% +245km

Optical Fiber >5,700 km vs 4,590 in Q1 2022

1) TWT Group FY2022 Revenues decreased in comparison to FY2021, due to the termination of lowmargin Voice Trading contracts announced by Unidata in the process of acquisition

GROWTH STRATEGY

UNIDATA: NEXT-GENERATION COMMUNICATION SERVICE PROVIDER

UNIDATA HAS ALWAYS BEEN DIFFERENT FROM A TRADITIONAL TELCO

We took a different path of innovation, anticipated the times and used new technologies, niche opportunities, speed of execution and ability to adapt. These are key characteristics in the future, because we define ourselves and we want to be a

NEXT-GENERATION COMMUNICATION SERVICE PROVIDER

DISRUPTIVE TECHNOLOGIES OF NEW GENERATIONS

The most important ones, we already see with great force and promises that must be used quickly and strategically, are:

2025 BUSINESS TARGETS – UNIDATA & UNIFIBER

2025 FINANCIAL TARGET

The contribution from Unitirreno and Unicenter is not included in the targets presented in the tables

UNIDATA GROUP'S 2025 TARGETS BY STREAM OF REVENUES

INVESTMENT HIGHLIGHTS

UNIDATA

1) Aggregated Revenues FY 2022 Unidata + TWT Group. 2) Aggregated number of employees Unidata + TWT Group.

CURRENT UNIDATA GROUP CUSTOMERS

32,500 Active lines at national level through a network of more than 350 partners 22,521 Unidata & TWT Consumer and Business Customers 55,021 customers

UNLOCKING HIDDEN VALUE ACROSS A VERY DIVERSIFIED PORTFOLIO OF ASSETS

UNIDATA: EV/EBITDA 23-24 on Market Cap approx. €120 million: 6.8 - 5.7 *

Unidata Group ownership

SHAREHOLDERS & GOVERNANCE

1) Equally owned by R. Brunetti, M. Vispi and C. Bianchi; 2) Entirely owned by M. Colli; 3) Including treasury shares.

Unidata S.p.A.

ROBERTO GIACOMETTI CFO & Investor Relations Officer

+39 329 2478696 r.giacometti@unidata.it

CDR Communication S.r.l. Investor Relations Consultant

SILVIA DI ROSA +39 335 7864209 silvia.dirosa@cdr-communication.it

ELEONORA NICOLINI +39 333 9773749 eleonora.nicolini@cdr-communication.it