Intred Spa · MIL:ITD
Intred Spa — Intermonte - Le Eccellenze del Made in Italy (October 2026)
22 slides from Intred Spa's conference presentation, Oct 1, 2026
Slide 1: Le Eccellenze del Made in Italy
Le Ecccellenze del Made in Italy OCTOBER 1st 2026
Slide 2: Intred Overview
INTRED OVERVIEW SECTION 1 OVERVIEW
Slide 3: Intred at a Glance
INTRED AT A GLANCE OVERVIEW BRIEF DESCRIPTION KEY FINANCIALS INTRED is a telecommunications and internet operator REVENUES (€ MN) ADJ. EBITDA* (€ MN) CAPEX (€ MN) founded in 1996 by Daniele Peli, offering Broadband, MARGIN 45.9% 46.2% Ultrabroadband, FWA, Voice, and Hosting services through +5.6% Yo
Slide 4: Intred Financials
INTRED FINANCIALS SECTION 2 FINANCIALS
Slide 5: 1H2026 – Key Financials
1H2026 – KEY FINANCIALS FINANCIALS REVENUES (€ MN) ADJ. EBITDA* (€ MN) EBIT (€ MN) EBITDA EBIT +5.6% YoY 45.9% 46.2% 23.1% 21.8% MARGIN MARGIN 29.3 +6.3% YoY 27.8 13.5 12.7 (0.4%) YoY 6.4 6.4 1H2025 1H2026 1H2025 1H2026 1H2025 1H2026 NET PROFIT (€ MN) NET FINANCIAL DEBT (€ MN) 44.1 42.1 (1.8%) YoY 4
Slide 6: 1H2026 – Profit & Loss
1H2026 – PROFIT & LOSS FINANCIALS €M 1H2026 1H2025 Var. % Revenue 29.3 27.8 5.6% ▪ Revenues of €29.3 million, up Other income 0.2 0.1 34.0% 5.6% YoY, driven by the Operating cost (15.9) (15.2) 5.2% development of the proprietary Adjusted EBITDA* 13.5 12.7 6.3% fiber-optic network, the Adjusted EBITD
Slide 7: 1H2026 – Revenues Breakdown
1H2026 – REVENUES BREAKDOWN FINANCIALS MOBILE MANTOVA PAVIA VOICE & DATA 0.3% 0.7% OTHERS 0.5% 17.6% 17.5% MONZA LANDLINE 2.5% TELEPHONY 6.2% BROADBAND BREAKDOWN BRESCIA BREAKDOWN 1.5% ULTRA 10.6% MILANO CONNETTIVITY BY SERVICE BROADBAND 50.1% BY AREA FWA CONNECTIVITY 4.6% CONNETTIVITY 59.4% 3.8% 1.
Slide 8: Adj. EBITDA Analysis: 1H2025 – 1H2026
ADJ. EBITDA ANALYSIS: 1H2025 – 1H2026 FINANCIALS €/MN 0.0 0.1 (0.6) (0.2) 13.5 (0.1) 1.5 12.7 EBITDA Increase Other Stock & Raw Personnel Services Other operating ADJ. EBITDA 1H2025 in revenues Revenues Materials Cost Cost expenses 1H2026 88 8
Slide 9: 1H2026 - Balance Sheet
1H2026 - BALANCE SHEET FINANCIALS €/MN NET WORKING CAPITAL SHAREHOLDERS’ EQUITY 1H2026 FY2025 1H2026 FY2025 (13.4) (17.2) 70.0 67.9 NET FINANCIAL DEBT 1H2026 FY2025 44.1 42.1 ▪ NWC: improving compared to FY2025, consistent with a business model characterized by high deferred income liabilities arisi
Slide 10: 1H2026 – Free Cash Flow
1H2026 – FREE CASH FLOW FINANCIALS Cash Flow From Operating Cash Flow From Cash Flow From Financing Net Increase/ Decrease in Activities Investing Activities Activities Cash & Cash Equivalents €/MN 10.1 7.9 3.3 3.5 (0.7) (3.2) (7.7) (12.6) ■ 1H2025 ■ 1H2026 10
Slide 11: Intred Strategic Plan
INTRED STRATEGIC PLAN 2026-2029 SECTION 3 STRATEGIC PLAN 2026-2029
Slide 12: A Network Almost 15,200km, +7% YoY
A NETWORK ALMOST 15,200KM, +7% YOY STRATEGIC PLAN 2026-2029 ITALY LOMBARDY POPULATION: POPULATION: > 59 M > 10 M ACTIVE ACTIVE COMPANIES: COMPANIES: > 2.65 M > 800 K Source: Eurostat and Unioncamere Lombardia INTRED Network INTRED Backbone Milano Brescia Bergamo Como & Lecco Monza - Brianza > 3.24 M
Slide 13: Market Overview
MARKET OVERVIEW STRATEGIC PLAN 2026-2029 Service Revenues in Italy (€M) CAGR 25-29 17,570 17,680 17,857 18,079 18,326 8,110 8,195 8,321 8,485 8,678 +1.7% 9,460 9,485 9,536 9,594 9,648 +0.5% FY2025A FY2026E FY2027E FY2028E FY2029E Fixed services Mobile services Key Trends in the Italian Telecommunica
Slide 14: Strong Focus in FTTH
STRONG FOCUS IN FTTH STRATEGIC PLAN 2026-2029 ITALIAN FIXED LINES BREAKDOWN More than half of Intred’s lines FWA 4.6% are fully fiber-based 13.3% ▪ Intred leads with 51.2%, far surpassing the 51.2% market average of 32.9% FTTH 36.1% ▪ FTTH destined to replace all the other data lines 37.5% FTTC ∆ MA
Slide 15: Business Strategic Drivers
BUSINESS STRATEGIC DRIVERS STRATEGIC PLAN 2026-2029 Consolidation in the relevant 1 2 Cost optimization geographical area ▪ Leverage of proprietary network to reach new ▪ Increasing use of proprietary networks to customers through last-mile connectivity reduce connection rental costs ▪ Expansion of
Slide 16: From High Investment to Build the Network…
FROM HIGH INVESTMENT TO BUILD THE NETWORK… STRATEGIC PLAN 2026-2029 # Phase 1: 2016 - 2025 € /MN 60 >€ 190 MN 50 CAPEX TO BUILD, DEVELOP AND STRENGTH THE NETWORK 40 ▪ FY2025 investments at € 21.2 MN focused on FTTH network 30 development in Lombardia area ▪ Development of Ultra Wideband 20 connectiv
Slide 17: …To Network Monetization
…TO NETWORK MONETIZATION STRATEGIC PLAN 2026-2029 NETWORK MONETISATION Transition from a phase focused on network deployment to one increasingly focused on monetising the existing FTTH # Phase 2: 2026-2029 infrastructure CAPEX DEPLOYMENT Cumulated Capex Targeted Capex in last-mile connections for ne
Slide 18: Financial Target
FINANCIAL TARGET STRATEGIC PLAN 2026-2029 2025A 2026E 2029E Revenues (€M) Revenues (€M) Revenues (€M) 55.8 58 - 61 72 - 78 CAGR 25-29 high single digit EBITDA (€M) EBITDA (€M) EBITDA (€M) 25.5 26 - 29 36 - 39 Margin: 45.8% Margin: > 46% Margin: > 49% CAGR 25-29 high single digit NET FINANCIAL DEBT (
Slide 19: Appendix
INTRED APPENDIX APPENDIX
Slide 20: Stock and Shareholders' Structure
STOCK AND SHAREHOLDERS’ STRUCTURE APPENDIX SHAREHOLDER SHARES % SHAREHOLDERS’ STRUCTURE DM HOLDING S.R.L. 9,631,106 60.30% VALUE FIRST SICAV 1,500,000 9.39% OWN SHARES 416,866 2.61% MARKET MARKET 4,424,828 27.70% 27.70% TOTAL 15,972,800 100.00% 1Y - STOCK PERFORMANCE INTRED FTSE MIB FTSE ITALIA GROW
Slide 21: Investor Relations – Next Events
INVESTOR RELATIONS Next events November 5, 2026 INTRED CDR Communication IR Board of Directors to approve turnover for the third CFO & IR Officer Advisor quarter of 2026 Filippo Leone Vincenza Colucci Tel. +39 391 4143050 Tel. +39 335 6909547 ir@intred.it vincenza.colucci@cdr-communication.it GENERA
Slide 22: SINTRED
SINTRED DA 30 ANNI CONNESSI SEMPRE
Intred — Intermonte - Le Eccellenze del Made in Italy (October 2026) on 6ix