Unidata

Investor Presentation • May 22, 2024

TP ICAP MIDCAP CONFERENCE

MAY 23rd, 2024

TODAY'S SPEAKER

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 managed the listing process on EGM, the extraordinary operations and the translisting on EXM - STAR Segment

COMPANY OVERVIEW

Foundation

Unidata starts operating as an Hardware Provider

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

Unidata extends its

activities to Cloud

services and

Internet of Things

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

Listing on Euronext Growth Milan of Borsa Italiana

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

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

Signed the deed of Merger by Incorporation of TWT Group (acquired on February 28 th , 2023) into Unidata

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

Listing on Euronext STAR Milan of Borsa Italiana

Unidata is among the protagonists of the temporary grouping of companies awarded of the important and innovative #ROMA5G Project

Unidata presents the new logo

most important cities of Lazio Region, where Unidata offers complete coverage of the territory with Gigafiber: direct FTTH

required by certification standards Rating 4 (formerly TIER IV) with additional features to ensure the highest level of infrastructure

LoRa is the new wirelesstechnology to support IoT solutions

wide communicationrange (several Km) to reach devices

highpenetrationto reach any object wherever it is installed

low power consumption(many years with a single battery)

openstandardto create private public collaborative network

worldwide adopted with the largest marketplace

IoT & SMART SOLUTIONS

MARKET DRIVERS

Massive Smart Metering

Smart City

Smart Gridfor Water, Gas and Electricity

Smart Agriculture

Award in PPP of the concession for the implementation and management of the smart metering IoT system for Acqua Pubblica Sabina

Assignment through project financing equal to 9.5 million Euros for a duration of 14 years

IoT & SMART METERING: AWARDED TENDERS

Award in Temporary Grouping of Companies, with the role of Mandatory.

Tender for the implementation of the Automatic Meter Management System of the Metropolitan City of Palermo

Total value of the tender, part of NRRP funds, equal to 2.7 million Euros, for a period of 36 months

Award of the contract for the Connectivity service for the meters of the integrated water service users, for drinking water use, in Firenze-Prato-Pistoia Metropolitan Area

Assignment through project financing equal to over 3.5 million Euros for a duration of 13 years

Award in Temporary Grouping of Companies of the concession for the implementation and management of the smart metering IoT system for Molise region

Assignment through project financing equal to over 3.0 million Euros for a duration of 2 years

OVER 19 MILLION EUROS IN IoT TENDERS FROM THE BEGINNING OF 2023

Award in Temporary Grouping of Companies of the concession for the design and implementation of the remote reading network based on LoRaWan® technology for Basilicata region

Assignment through project financing equal to 0.6 million Euros for a duration of 2 years

ADDITIONAL KEY SERVICES

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

Fiber infrastructureconstruction

Unidata directly builds the fiber optic network for Unidata and Unifiber in some key areas, as for instance in the gray areas of Lazio, Puglia, Molise regions.

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.

MAIN PROJECTS

UNIFIBER (JV WITH CEBF)

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

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

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 REGION

FINANCIAL STRUCTURE OF THE PROJECT

As of 31 March 2024, Unidata already paid Eu 6.4 million out of its total equity investment. Unidata has an 11% of free equity thanks to its role of industrial partner.

-

UNITIRRENO (JV WITH AZIMUT)

Submarine cable system in the Tyrrhenian Sea of about 900 km from Mazara del Vallo to Genova, with a junction point near Roma-Fiumicino and one in Sardegna region.

Closing signed in 2023 with Azimut - Fondo Infrastrutture per la Crescita ESG 1 and the activity already started.

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

As of 31 March 2024, Unidata already paid Eu 7.5 million out of its total equity investment.

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

UNICENTER (JV WITH AZIMUT)

GreenandneutralTier IV datacenter in Rome about 20 MW and 3,200 rackcapacity for a total area of 20,000 sqm

Investment Agreement signed in 2022 with Fondo Infrastrutture per la Crescita - ESG 1 .

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

FINANCIAL STRUCTURE OF THE PROJECT

As of 31 March 2024, Unidata has not paid any amount of its total equity investment because the project has not yet started.

KEY FINANCIALS

UNIDATA GROUP -FINANCIAL HIGHLIGHTS Q1 2024

Revenues 25.3 M€ (22.9 M€ in Q1 2023) +11%

Net Financial Debt (cash negative) (47.9 M€ in FY 2023)

53.1 M€

EBITDA 7.0 M€ (5.5 M€ in Q1 2023) +32%

EBITDA Margin (23.3% in Q1 2023) 27.7%

Investments 0.1 M€ in intangible F.A. 2.1 M€ in tangible F.A. 1.4 M€ in financial F.A.

3.6 M€

The values in brackets refer to the pro-forma economic data as of 31 March 2023, i.e. including the TWT Group in the consolidation for the entire period.

FINANCIAL HIGHLIGHTS Q1 2024

Revenues Q1 2024 breakdown Number of customers Q1 2024

The values of Q1 2023 refer to the pro-forma economic data as of 31 March 2023, i.e. including the TWT Group in the consolidation for the entire period.

NET FINANCIAL DEBT BRIDGE

STRONG REVENUES GENERATION

1) Reported Data include Unidata data from 01.01.2023 to 31.12.2023 and TWT Group data from 01.03.2023 to 31.12.2023; 2) Pro forma data include economic data from 01.01.2023 to 31.12.2023 of both Unidata and TWT Group.

• Consolidated revenues strongly increased, thanks to both the good organic growth of Unidata S.p.A. and the inclusion of the recently acquired TWT Group in the perimeter.

UNIDATA GROUP - CUSTOMERS FY 2023

33,512

Active lines at national level through a network of about 370 partners

23,137

Unidata & TWT Consumer and Business Customers

56,649

OUTSTANDING AND CONTINUOUS GROWTH

• The improvement in EBITDA in 2023 is strictly related to the consolidation of TWT Group.
• EBITDA Adjusted reported, equal to € 24.4 million, is calculated net of extraordinary costs related to consultancy for the acquisition of TWT Group and for the finalization of the Translisting amounting to approximately € 2.0 million.

Adjusted EBITDA & Margin EBIT & Margin

1) Reported Data include Unidata data from 01.01.2023 to 31.12.2023 and TWT Group data from 01.03.2023 to 31.12.2023; 2) Pro forma data include economic data from 01.01.2023 to 31.12.2023 of both Unidata and TWT Group.

NET FINANCIAL DEBT BRIDGE

Net Cash/ (Net debt)
Dec '22

BUSINESS PLAN 2024 - 2026

STRATEGY -THE INDUSTRIAL PATH

Smart Cities

Edge Computing

Smart Infrastructure

Advanced Water Solutions

Connectivity & Convergence

BUSINESS DEVELOPMENT on NATIONAL SCALE

INVESTMENTS in STRATEGIC INFRASTRUCTURES

«the 5Focus» for UNIDATA

Commercial development based on techno-digital

transformation of companies, private individuals and Public

Administration

Implementation of Complex Fiber-Cloud-WiFi-IoT Projects

Innovative Networks

Fiber & IoT

Advanced Data Center

Strategic connectivity for the Mediterranean

2026 FINANCIAL TARGET

NET FINANCIAL DEBT

CUMULATED CAPEX 2024-26

1) Reported Data include 12 months of Unidata and 10 months of TWT Group; 2) Management Data include 12 months of both Unidata and TWT Group.

2026 REVENUES BREAKDOWN

REVENUES MIX by Business Line

Over time the Mix of contribution to Total Revenues changes in favour of a greater weight of Revenues deriving from the SERVICE (Retail) business line (Business, Consumer, Wholesale, Reseller, Public Administration)

CAGR SERVICE (Retail) 2024-2026 - 19%

CAGR INFRASTRUCTURE 2024-2026 -15%

REVENUES MIX by Type

The basis of recurring contracts are the engine of growth together with large Fiber-IoT digital transformation projects

CAGR SERVICE (Retail) Recurring 2024-26 - 19%

ESG GOALS 2024 -2026

• New HU OF +21k
• New HU UF +64k

Roma 5G

• 100 squares connected by WIFI

• 1525 Small Cells

Unitirreno

• 890km from Mazara del Vallo to Genova with connections at Roma – Fiumicino and Olbia

• -

-

-

-

Personal development •employment increase 215+ units •Women from 28% to 32% of the total •increase of the under 30

Training •+46% of total training hours • Assessment 90+% of staff

Welfare •+10% monetary incentive •+29% of smart working days

Evaluation •company climate measurement •periodic performance assessment

Savings enabled by IoT metering projects

• 80M m3 of water
• 60GWh of energy

-10% data center consumption

Direct self-production 4+%

95+% energy used from renewables

Mobility manager and contribution to the Sustainable Urban Mobility Plan

12% reduction in the average CO2 emissions by the car fleet

CLOSING REMARKS

+11% Revenues CAGR 2024-2026

2024-2026

0.6x

2024-2026

2024-2026

2024-2026

Growth driven by Business, Wholesale and Public Administration markets

Purchasing optimization, process automation, improvement of technical and commercial contracts

Artificial Intelligence, smart grid, water, energy, environmental sustainability, climate change

Better attention to environmental impact and circular economy

Investments in new networks and data centers

SUSTAINABILITY

UNIDATA GROUP: A BENEFIT COMPANY

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

Reducing climate-changing emissions and the energy consumption

Protection of employees and attention to their

• In 2022, Unidata became a Benefit Company and published its 1
• Unidata developed its ESG Strategybased on 3 macro-purposes of common benefit:

training and well-being

Infrastructure of areas to resolve conditions of

digital divide

st Impact Report and 3 rd ESG Report

RESULTS AND GOALS

ENVIRONMENTAL	SOCIAL	GOVERNANCE
Reduction of energy consumption	Wire gray and black fiber
and emissions	areas	individual needs
Results 2023	Results 2023	Results 2023
Consumption of energy from renewable sources:
96.7% of the total	New real estate units black area
Improvement equal to 51% of the current	(Unidata): 59,984
photovoltaic system		Goals 2024
Goals 2024	Goals 2024
	New real estate units gray area	soft skills
Maintaining at least 95% of renewable energy	(UniFiber): 50,000
Replacement of 30% of the Group fleet in		personal needs
hybrid/electric	New real estate units black area
Measurement of data center consumption	(Unidata): 16,000	surveys

Results 2023

Goals 2024

Ensure training consistent with individual needs

Training for 70% managers focused on soft skills

Training for all employees focused on personal needs

Measurement of corporate climate through

Training for 80% of management

Time flexibility and smart working

Goals 2024

Results 2023

APPENDIX

SHAREHOLDERS AND GOVERNANCE

2

BOARD OF DIRECTORS

BOARD OF STATUTORY AUDITORS

FINANCIAL REPORTING OFFICER

Roberto Giacometti CFO & Investor Relations Officer

TWT GROUP

PRODUCT OFFERING

Telco services (VoIP)

Connectivity (FTTH, FTTC, dedicated fiber)

ICT services (DC, cloud-based solutions)

• Founded in 1995 in Milan, TWT Group is a primary Italian TLC, connectivity and ICT services operator specialized in the B2B segment 1

• TWT Group's vision is to become a recognized "atelier of telecommunications" with a bespoke B2B offering

Proprietary optic fiber in Milano telco & to connect datacenter sites

Proprietary datacenter ~650 sqm

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.

STRONG COMPLEMENTARITY

Domestic reach, with a strong presence in entire Italy
White Label / Corporate Only B2B
Asset-light
(focus on services)
Network and
process driven

Tech solutions

DISCLAIMER

This document has been prepared by UNIDATA S.p.A. (the "Company") solely for information purposes. It contains summary information only and is therefore preliminary in nature. It has also been prepared without any intention of being exhaustive. THIS PRESENTATION AND THE ASSOCIATED VERBAL DISCUSSIONS DO NOT CONSTITUTE A PUBLIC OFFER OR AN INVITATION TO SUBSCRIBE, PURCHASE OR OTHERWISE ACQUIRE FINANCIAL PRODUCTS UNDER ARTICLE 1(1)(T) OF LEGISLATIVE DECREE NO 58 OF 24 FEBRUARY 1998 (AS AMENDED). This document is not therefore an advertisement and does not in any way constitute a proposal for execution of a contract, an offer or an invitation to purchase, subscribe or sell securities and neither does this document or part of this document constitute a basis to be relied upon in relation to any contract or undertaking or investment decision. The Company has not prepared and will not be preparing a prospectus for the purposes of an initial public offering of shares. Any decision to purchase, subscribe or sell securities must be taken independently of this Presentation. No provision of this Presentation will therefore create any binding liability or obligation for the Company and its subsidiaries and for their consultants or representatives. The Presentation is not intended for distribution in the United States of America, Canada, Australia, Japan or in any jurisdiction in which such distribution is illegal (as defined in Regulation S under the United States Securities Act 1933, as amended (the 'Securities Act'). Neither this Presentation nor any copies thereof may be used or transmitted in the United States of America or in its territories or possessions, or distributed, directly or indirectly, in the United States of America or in its territories or possessions or to any American person. Failure to comply with this restriction may constitute a breach of United States securities laws. No declaration or guarantee, whether express or implied, is or will be given by the Company in relation to the accuracy, completeness or correctness of the information provided and, to the extent permitted by law and save in the case of fraud by an interested party, no liability is assumed in relation to the accuracy or sufficiency of that information or for errors, omissions or inaccuracies, negligence or other issues relating thereto. In particular, but without limitation, no declaration or guarantee, whether express or implied, is or will be given in relation to the achievement or reasonableness of, and no reliance may be placed for any purpose on the accuracy or completeness of, estimates, targets, projections or forecasts, and nothing in these materials should be considered as a promise or representation for the future. The information and opinions contained in this document are provided as at the date of this document and are subject to modification without notice. The recipient will be the sole party responsible for its own assessment of the information contained in the Presentation. Neither the Company and its subsidiaries nor their consultants or representatives, will be obliged to provide or update any information or to provide notification of or correct any inaccuracies in any information. Neither the Company and its subsidiaries nor any of their consultants or representatives will have any liability vis-à-vis the recipient or any of its representatives as a consequence of the use of or reliance on the information contained in this document. Some information may contain forward-looking statements that present risks and uncertainties and are subject to change. In some cases, these forward-looking statements may be identified by the use of words such as 'believe', 'anticipate', 'estimate', 'objective', 'potential', 'hope', 'forecast', 'draft', 'could', 'should', 'may', 'intention', 'plan', 'purpose', 'seek' and similar expressions. The forecasts and forward-looking statements included in this document are necessarily based on a series of assumptions and estimates that are intrinsically subject to significant economic, operational and competitive uncertainties and unforeseen events, and on assumptions relating to future corporate decisions that are subject to change. By their nature, the forward-looking statements present known and unknown risks and uncertainties, because they refer to events and depend on circumstances that might occur in the future. Furthermore, the actual results may differ substantially from those contained in any forward-looking statement because of a series of significant risks and future events that are outside the control of the Company and cannot be estimated in advance, such as the future economic context and the actions of competitors and other entities involved in the market. These forward-looking statements refer only to the date of this presentation. The Company advises that the forward-looking statements are not guarantees of future benefits and that its current financial position, corporate strategy, plans and management objectives for future operations may differ substantially from those stated in or suggested by the forward-looking statements contained in this Presentation. Furthermore, even if the Company's financial position, company strategy, plans and management objectives for future operations are consistent with the forward-looking statements contained in this Presentation, these results or developments might not be indicative of the results or developments in future periods. The Company expressly disclaims any obligation or undertaking to disclose updates or revisions of any forward-looking statement contained in this document to reflect any change in the Company's expectations in relation to that document or any change in events, conditions or circumstances on which such statements are based. By receiving this Presentation, the user acknowledges and accepts that it is bound by the terms, conditions and restrictions stated above.

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