Unidata

Investor Presentation • Feb 21, 2024

FEBRUARY 21st , 2024

EnVent Winter Conference

TODAY'S SPEAKERS

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

APPENDIX

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 wins the first IoT tender related to the IoT system managing water meters in Palermo

Listing on Euronext STAR Milan of Borsa Italiana Signed the deed of Merger by Incorporation of TWT Group (acquisition closed on February 28th , 2023) into Unidata

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 6,200 KM OF FIBER OPTIC CABLING

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

365,000 HOUSING UNITS SERVED AS OF 30 SEPTEMBER 2023

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

Market Drivers

• Massive Smart Metering
• Smart City
• Smart Grid for Water, Gas and Electricity
• Smart Agriculture

IoT AND SMART METERING: TENDERS AWARDED

Award in Temporary Grouping of Companies, with the role of Mandatory, with BIP S.p.A. and Lektor S.r.l.

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 in Public Private Partnership 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

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

ABOUT 18.7 MILLION EUROS IN IoT TENDERS FROM THE BEGINNING OF 2023

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.

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

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 September 2023, Unidata already paid Eu 5.5 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)

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 September 2023, Unidata already paid Eu 6.5 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 September 2023, Unidata has not paid any amount of its total equity investment because the project has not yet started.

KEY FINANCIALS

Financial Highlights UNIDATA GROUP - PRELIMINARY FY2023 FY2021

1 Reported Data			2 Management Data
92.7 M€ +80% Revenues			Revenues			100.8 M€ +96%
24.4 M€ +50% Adj. EBITDA			Adj. EBITDA			25.9 M€ +60%
26.3% Adj. EBITDA Margin			Adj. EBITDA Margin			25.7%
Net Financial Debt		47.9 M€ for ESMA purposes	46.7 M€ including a secured deposit

STRONG REVENUES GENERATION

• Consolidated revenues strongly increased, thanks to the inclusion of the recently acquired TWT Group in the perimeter.
• "Stand-alone" revenues showed an excellent result confirming Unidata's solid business model with an increase of about 16.4%. 1

63.3%

Project 3.1% Voice trading 5.0%

Reseller & Business TWT 36.0%

1) ''Like for like'' revenues refer to the revenues of Unidata S.p.A. stand alone; 2) 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; 3) Management data include economic data from 01.01.2023 to 31.12.2023 of both Unidata and TWT Group.

UNIDATA GROUP CUSTOMERS 9M 2023

33,178 Active lines at national level through a network of about 370 partners 21,887 Unidata & TWT Consumer and Business Customers 55,065 customers

OUTSTANDING AND CONTINUOUS GROWTH

• The improvement in EBITDA in 9M 2023 is strictly related to the consolidation of TWT Group.
• EBITDA Adjusted, equal to € 15.8 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 € 0.8 million.

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) Management data include economic data from 01.01.2023 to 31.12.2023 of both Unidata and TWT Group.

NET FINANCIAL POSITION BRIDGE 9M 2023

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

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

BUSINESS PLAN 2024-2026

STRATEGY – The Industrial Path

BUSINESS DEVELOPMENT on NATIONAL SCALE

INVESTMENTS in STRATEGIC INFRASTRUCTURES

Smart Cities

Advanced Water Solutions

Smart Infrastructure

Edge Computing

(XaaS) Everything-as-a- Service

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 TARGETS

~24 ~26 37 41 2023 2023 Worst 2026 Best 2026 €/million 26.3% 25.7% ~28% ~29% EBITDA MARGIN

Reported Management

CUMULATED CAPEX 2024-26

NET FINANCIAL DEBT

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 REVENUES MIX by Type

CAGR SERVICE (Retail) 2024-2026 - 19%

€150

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)

€150

CAGR INFRASTRUCTURE 2024-2026 - 15% CAGR SERVICE (Retail) Recurring 2024-26 - 19%

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

ESG GOALS 2024 - 2026

Fiber in grey and black areas

• 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

G rowth	+11 % Revenues CAGR 2024-2026
E fficiency	+17 % EBITDA CAGR 2024-2026
C apex	€ 56 M Total Investments 2024-2026
S oundess	0.6x Leverage Ratio 2026
I nnovation	2/3 projects 2024-2026
S ustainability	95+% Renewable Energy 2024-2026

Growth driven by the 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

SHAREHOLDERS & GOVERNANCE

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

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. 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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