INTRED S.P.a.: revenue for the first 9 months of 2024 grows by 10,6% to 40,7 million euros.

Press Release

INTRED S.P.A.: REVENUE FOR THE FIRST NINE MONTHS OF

2024 GROWS BY 10.6% TO 40.7 MILLION EUROS

HIGH CUSTOMER LOYALTY WITH CHURN RATE MAINTAINED

AT EXCELLENT LEVELS

Brescia, 5 November 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, reviewed the unaudited company's turnover as at 30 September 2024 - including the subsidiary Connecting Italia S.r.l., acquired on 3 April 2024 - amounting to over €40.7 million, representing an increase of 10.6% compared to the same period of the previous year.

Daniele Peli, Co-Founder and CEO of Intred S.p.A., commented: "We are pleased with the first nine months of 2024, during which we reported sustained revenue growth, thanks to the sales of Ultra Broadband connections and recurring-feeservices, which constitute our core business. Geographically, we are witnessing significant growth in the provinces of Milan, Brescia, Pavia, Lecco, Mantua, and Sondrio. Thanks to the Schools Tenders, we are expanding sales across all the provinces of Lombardy, particularly in the public administration and professional sectors. Through these initiatives, we aim to strengthen our market presence and respond to the growing needs of our clients".

The turnover of Intred alone amounted to € 38.6 million, an increase of 5,0% compared to the previous year, while the revenues generated by Connecting Italia s.r.l., acquired through a merger during the current year, reached €2.1 million. The civil law effects of the merger will take place within the year, while the accounting and tax effects are retroactive to 1 January 2024.

The increase in cumulative turnover was mainly driven by sales of fiber-optic connections, which amounted to € 24.6 million, up 10.7% against the same period last year.

Services with recurring fees, the company's core business, which account for more than 88.8% of sales, stood at € 36.2, million up 13.5%.

In terms of geographies, the most significant percentage growth was reported in the provinces of Milan, Pavia, Monza, Lecco, Mantua and Lecco. Thanks to the Schools Tenders, Intred is vigorously supporting the expansion of sales in all provinces of Lombardy, especially in the local PA and Professional sectors.

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

• 22.8 million or +16.8%. The sales results were also excellent in the Residential sector, which grew by 4.0% to €7.1 million, in the Wholesale segment, which increased by 4.6% to €3.1 million, and in the Public Administration sector, which rose by 2.7% to €7.6 million.

The churn rate on sales remained well below the market benchmark at 4.6%, confirming the high level of customer loyalty towards the company.

With regard to the Schools Tenders, more than 4,200 schools out of a total of approximately 5,000 schools, for a total turnover of € 6.2 million, in the first nine months of 2024.

The proprietary fiber-optic network grew by 10.9%, from over 11,700 Km on 31 December 2023 to over 13.000 Km at the end of September 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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The Company's Board of Directors also acknowledged the resignation of Mrs. Cinzia Della Torre from her role as a member of the Supervisory Body due to personal reasons, submitted and accepted on 24 September 2024. Attorney Carla Gheruzzi has been appointed as the new member of the Supervisory Body, with her term lasting until the approval of the financial statements as of 31 December 2026.

As of today, the Supervisory Body is therefore made up as follows:

• Francesco Menini as Chairman;
• Gianpietro Belloni;
• Attorney Carla Gheruzzi.

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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

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 13,000 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 € 27.5 million as at 30 June 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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