INTRED SpA: Revenue at Euro 13.9 million in first quarter 2025.

Press Release

SOLID ORGANIC GROWTH (+8.1%) NET OF ONE-TIME EFFECTS OF SCHOOL TENDERS AND INTEGRATION OF CONNECTING ITALIA

RENEWAL OF SHARE BUYBACK PROGRAM

In first quarter 2025, Intred's revenue topped € 13.9 million. Organic revenue growth of 8.1% YoY confirms the strength of the business model and the ongoing expansion of the customer base.

Compared to the prior quarter, total revenue was basically steady (+0.3%), mainly due to two factors: (i) the gradual reduction of one-off revenue from school tenders, initiated in prior years and now nearing completion, which will mainly convert into recurring revenue in 2025; (ii) the impact of the new management strategy adopted for Connecting, whose first quarter of 2024 was still managed by the previous shareholder base, progressively reducing or divesting non-strategic or unprofitable services to improve efficiency and margins.

In the words of Daniele Peli, Co-Founder and CEO of Intred S.p.A.: "We are pleased with the results achieved in first quarter 2025, which confirm the robustness and resilience of our business model. The solid organic growth, net of activations related to school tenders and the integration of Connecting, reflects the quality of our offerings and the effectiveness of the sales and marketing strategies implemented. We continue to invest strongly in our proprietary fibre infrastructure, which has now expanded to over 14,000 kilometers, further reinforcing our widespread presence in Lombardy. We look confidently ahead to the coming months, also supported by the growing contribution of customers acquired through Connecting, which will allow us to accelerate our growth and consolidation in the market."

Organic growth was primarily driven by Ultra Broadband connection sales, which totaled €

8.1 million, and Voice and Data services, which reached € 2.5 million.

Revenue from recurring services - the Company's core business - amounted to € 13.0

million, representing 93.2% of the total and recording YoY growth of 10.2%.

Geographically, the most significant growth occurred in the provinces of Brescia, Bergamo, Cremona, Lodi, and Como. Through the School Tenders, Intred continues to actively support sales growth across all provinces of Lombardy, focusing on the local PA and Professional sectors. The proprietary fibre infrastructure, now reaching every Lombardy municipality with at least one school, ensures broad regional coverage. The network grew from more than 13,500 km at end 2024 to over 14,000 km at 31 March 2025.

Analyzing revenue by customer type, the Wholesale segment achieved the strongest

performance, with revenue of € 1.1 million, up 11.8% versus first quarter 2024.

The Private segment also delivered solid results, increasing by 5.7% to € 2.5 million, while the Professional segment maintained its strength, with revenue of € 7.7 million.

The Public Administration segment generated € 2.6 million in revenue, down 8.7% YoY. This decline primarily reflects the gradual reduction in one-off revenue from public school tenders. However, excluding this extraordinary item, revenue from public customers increased significantly by 35.4% versus first quarter 2024, reflecting the growing demand for the Company's recurring and structural services in the public sector.

Lastly, the churn rate on sales remained extremely low at 4.3%, indicating strong customer loyalty to Intred.

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The Board of Directors also resolved, based on the new authorization granted by the Shareholders' Meeting on 29 April 2025, to revoke the previous mandate and grant a new one for the purchase of treasury shares to Intermonte Sim S.p.A., as the appointed intermediary, in compliance with current legislation, in particular the provisions of Article

132 of the TUF and Article 144-bis of CONSOB Regulation No. 11971/ 1999 ("Issuer Regulation"), with the operating procedures established by the Regulations of Markets organized and managed by Borsa Italiana S.p.A..

The program will be executed in accordance with the resolution passed by the Shareholders' Meeting on 29 April 2025, which has already been made public and is available on the Company website (Governance - Assemblea degli Azionisti section), following the procedures and within the operational limits set forth in Regulation (EU) no. 596/2014 of the European Parliament and of the Council of 16 April 2014, Delegated Regulation (EU) no. 1052/2016 of the European Commission of 8 March 2016, and applicable general and sector-specific regulations, as amended from time to time.

The purchases shall involve a maximum of 100,000 ordinary shares, representing 0.6% of Intred's share capital, for a total value not exceeding € 1,500,000. The purchase program may be executed within the 18-month period from the 29 April 2025 AGM resolution (and thus by 29 October 2026). Additionally, the purchase price of the shares shall be determined from time to time but may not deviate by more than 10% above or below the reference price recorded in the stock exchange session prior to each transaction.

The new buyback plan will begin on 12 May 2025.

The Company will disclose information on transactions related to the share buyback program in the manner and within the time limits required by applicable regulations. At the date of this press release, Intred holds 33,557 treasury shares, representing 0.2112% of the share capital.

Any subsequent changes to the buyback program will be promptly disclosed to the public in the manner and time limits required by current regulations.

The authorization to purchase and dispose of treasury shares is intended to allow for their disposal and/or use in line with corporate strategies, including extraordinary transactions, share incentive plans, and actions to support stock liquidity.

For more details on the share buyback transaction, refer to the authorizing resolution approved by the Shareholders' Meeting and the related explanatory report of the Board of Directors, available on the Company website (Governance - Assemblea degli Azionisti section) and on the 1INFO-SDIR regulated information dissemination system managed by Computershare.

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This press release is online at https://www.1info.it and on the Issuer's website https://www.intred.it (Investitori / Comunicati Stampa Price Sensitive section).

Intred

A leading telecoms player in Lombardy, Intred was founded in 1996 by Daniele Peli, the company's current Chairman and CEO, and has been listed since 2018 on the EGM (formerly AIM Italia) market of Borsa Italiana (symbol: ITD.MI). With a proprietary fibre network exceeding 14,000 kilometers, Intred offers broadband and ultra-broadband connectivity, fixed wireless access, fixed telephony, cloud services, and related ancillary services to Professional, Public Administration, and Residential customers. Direct infrastructure management ensures efficiency, profitability, service quality, and a guaranteed high level of performance. With solid assets and a well-established and highly scalable business model - generating over € 13.9 million in revenue at 31 March 2025 - Intred positions itself as the ideal infrastructure technology partner, delivering a complete portfolio of reliable, high-quality, and secure solutions. https://www.intred.it

+39 02 584081 Simone Rivera

intred@bancaprofilo.it Tel. +39 366 8780742 simone.rivera@cdr-communciation.it

i•INTRED

CONNESSI SEMPRE

+39 02 87208720 Tel. +39 335 6909547

info@integraesim.it vincenza.colucci@cdr-communciation.it

Filippo Leone

Tel. +39 391 4143050

ir@intred.it

Angelo Brunello Tel. +39 329 2117752

angelo.brunello@cdr-communication.it