INTRED S.p.A.: production value grows by 10.6% to 56 million euros, in line with the 2024-2027 strategic plan the extensive proprietary network expands to over 13,500 km (+14.6%).

Press Release

INTRED S.P.A.:

PRODUCTION VALUE GROWS BY 10.6% TO 56 MILLION EUROS, IN LINE WITH THE 2024-2027 STRATEGIC PLAN

THE EXTENSIVE PROPRIETARY NETWORK EXPANDS TO

OVER 13,500 KM (+14.6%)

Brescia, 11 February 2024 - The Board of Directors of Intred S.p.A. ("Intred" or the "Company"), a telecommunications operator listed on the EGM market of Borsa Italiana (ITD.MI) since July 2018, which met today, has examined the main KPIs as of December 31, 2024, which have not been subject to legal audit and include the subsidiary Connecting Italia S.r.l., acquired on April 3, 2024. Revenue stands at over €55.2 million, marking a 10.3% increase compared to the previous financial period, while production value amounts to €55.9 million, growing by 10.6% YoY.

Daniele Peli, Co-Founder and CEO of Intred S.p.A., commented: "2024 has been a pivotal year for Intred, marked by growth and the consolidation of our market position. The expansion of our network, now exceeding 13,500 km, has enabled us to respond even more effectively to the growing demand for Ultra Broadband connections, thanks also to the School Tenders, which played a crucial role in strengthening our coverage in Lombardy, reaching every municipality with at least one school. The integration of Connecting Italia has further reinforced our offering, while the increase in activations, particularly in the Milan province, highlights the solidity of our business model. With over 4,400 schools connected, our contribution to the digitalization of public administration is becoming increasingly significant, confirming the significance of our strategic investments".

Egon Zanagnolo, General Manager of Intred S.p.A., added: "In addition to the positive figures, what stands out is the strength of our business model. Production value has grown in line with forecasts despite our focus on higher-margincontracts, which, based on current evidence, should lead to a higher-than-expectedprofitability. The 14.6% expansion of our network has strengthened our competitive position, supporting sales growth in both the professional sector and public administration. We will continue to invest with confidence in the future, ensuring that our business grows further by seizing market opportunities, with the goal of achieving the targets set in the 2024-2027Strategic Plan".

The revenue for the 2024 financial year amounts to €55.2 million, of which €52.5 million- representing a 4.9% increase compared to the previous year-is attributable solely to Intred. Meanwhile, €2.7 million in revenue is ascribable to Connecting Italia S.r.l., acquired through a merger by incorporation during 2024.

As of December 31, 2024, production value amounts to €55.9 million, reporting a 10.6% increase compared to 2023, in line with the forecasts provided in the guidance of the 2024- 2027 Strategic Plan (see press release of September 24, 2024)

Revenue growth was mainly driven by sales of Ultra Broadband connections, amounting to €33.9 million, an 11.5% increase compared to the previous financial period.

Services with recurring fees, the company's core business, which account for more than 88.5% of sales, stood at € 48.9, million up 13.1%.

In terms of geographies, the most significant percentage growth was reported in the provinces of Milan, Brescia, Monza, Mantua, Pavia and Varese. In particular, the province of Milan has experienced significant growth, recording a 26% increase in revenue compared to 2023 (amounting to €1.58 million). Thanks to the Schools Tenders, Intred is vigorously supporting the expansion of sales in all provinces of Lombardy, especially in the local public administration and professional sectors. Moreover, the proprietary fiber optic infrastructure, which has grown by 14.6%, is now capable of reaching every municipality in Lombardy with at least one school, ensuring exceptional coverage across the entire region. The network has expanded from over 11,700 km at the end of 2023 to over 13,500 km in 2024.

In terms of customer type, the greatest growth came from sales in the Professional sector,

• 30.6 million or +16.1%. The sales results were also excellent in the Residential sector, which grew by 4.6% to €9.6 million, in the Wholesale segment, which increased by 9.1% to €4.2 million, and in the Public Administration sector, which rose by 1.2% to €10.7 million.

The churn rate on sales remained well below the market benchmark at 4.7%, confirming the high level of customer loyalty towards the company.

With regard to the Schools Tenders, more than 4,400 schools out of a total of approximately 5,000 schools, for a total turnover of € 8.8 million, in 2024.

In September, the Company presented the 2024-2027 Strategic Plan to the Italian and international financial community, focusing on investments in innovation. Among the key initiatives is the development of a new Data Center in Brescia: this project not only offers growth opportunities for the city but also represents a crucial step towards advanced connectivity and more efficient data management.

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This press release is online at www.1info.itand on the Issuer's website www.intred.it(Investors / Price Sensitive Press Releases section).

Intred

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Reference telecommunications operator in Lombardy founded in 1996 by Daniele Peli, the company's current Chairman and CEO, and listed on the Italian Stock Exchange EGM market since 2018 (symbol: ITD.MI). With an optical fiber network of over 13,500 km, Intred provides business, PA and retail customers with broadband and ultra-broadband connectivity, fixed access wireless, landline telephone services, cloud services and related services. The direct management of the infrastructures allow efficiency, profitability, quality of service and a guaranteed and extremely high level of assistance. Its high-value assets and consolidated, highly scalable business model, combined with a turnover over € 55.2 million as at 31 December 2024, make Intred an ideal infrastructure technology partner with a full range of high-quality, reliable and secure solutions. www.intred.it

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