Telecom Italia S.p.a. MIL:TIT

Telecom Italia S p A : TIM - BoD explanatory Report Apppointment of directors

Published

Source: MarketScreener

English courtesy translation from the original Italian version. In case of conflicts the Italian version shall prevail

Telecom Italia S.p.A.



Registered office in Milan, Via Gaetano Negri, no. 1

Registered in the Companies Register of Milan-Monza-Brianza-Lodi under no. 00488410010 Share capital of Euro 11,677,002,855.10 fully paid-up

Ordinary session

  1. Appointment of two Directors following resignations and subsequent co-optation pursuant to Article 2386 of the Italian Civil Code and the current Bylaws. Any resolutions pursuant to Article 2390 of the Italian Civil Code. Related and consequential resolutions.

    Dear Shareholders,

    On September 15, 2025, independent director Domitilla Benigni (appointed by the Shareholders' Meeting on April 23, 2024) resigned from her position as a member of the Board of Directors of TIM S.p.A. ("TIM" or the "Company").

    The Company's Board of Directors, which met on September 25, acknowledged her resignation and appointed Ms. Alessandra Perrazzelli by co-optation (with a resolution also approved by the Company's Board of Statutory Auditors), who was also appointed as a member of the Nomination and Remuneration Committee and the Sustainability Committee.

    The Company's Board of Directors subsequently carried out the necessary checks to verify that Ms. Alessandra Perrazzelli met the legal and statutory requirements for the office and she was independent pursuant to the combined provisions of Articles 147-ter, fourth paragraph, and 148, third paragraph, of the Consolidated Law on Finance, as well as Article 2, Recommendation No. 7 of the Corporate Governance Code.

    It should be noted that, pursuant to Article 2386 of the Italian Civil Code, Director Ms. Perrazzelli will remain in office until the date of the next Shareholders' Meeting of the Company and it is therefore necessary for that Shareholders' Meeting to appoint a new member of the Board of Directors, in compliance with the total number of 9 Directors set by the Shareholders' Meeting on April 23, 2024.

    Subsequently, on December 10, 2025, Director Umberto Paolucci (appointed by the Shareholders' Meeting of April 23, 2024) also resigned, with effect from January 1, 2026.

    The Company's Board of Directors, which met on December 21, 2025, acknowledged his resignations and appointed Prof. Lorenzo Cavalaglio by co-optation (with a resolution approved by the Company's Board of Statutory Auditors).

    At that meeting, the Board of Directors acknowledged that Director Cavalaglio has declared to be independent, postponing the assessment of the legal and statutory requirements for the aforementioned Director to a future meeting.

    It should be noted that, pursuant to Article 2386 of the Italian Civil Code, Prof. Cavalaglio also remains in office until the date

    of the next Shareholders' Meeting of the Company and it is therefore necessary for that Shareholders' Meeting to appoint a second member of the Board of Directors, without prejudice to the total number of nine Directors established by the Shareholders' Meeting on April 23, 2024.

    In this case, since it deals with the addition of members to the administrative body and not its renewal, the list voting mechanism will not apply, also taking into account the provisions of Article 9.9 of the Bylaws. The Shareholders' Meeting will therefore deliberate with the majorities required by law.

    In light of the above, based on the assessments already made at the time of the co-optation process, it is proposed that you appoint Ms. Perrazzelli and Mr. Cavalaglio as directors of TIM for the remaining term of office of the current Board of Directors and, therefore, until the date of the Shareholders' Meeting called to approve the financial statements for the year ending December 31, 2026.

    The Board of Directors invites you to examine the candidates' curriculum vitae with regard to their personal and professional characteristics, indicating the management and control offices held in other companies and the statements in which they have accepted the candidacy and certified, under their own responsibility, the absence of any causes of ineligibility or incompatibility (including those provided for in Article 2382 of the Italian Civil Code and any disqualifications from the office of director imposed on them in a Member State of the European Union), the existence of the requirements prescribed by the provisions of the Bylaws, the law, and regulations for the position of member of the Board of Directors, as well as certified and confirmed their suitability to qualify as independent directors pursuant to the combined provisions of Articles 147-ter, fourth paragraph, and 148, third paragraph, of the Consolidated Law on Finance, as well as Article 2, Recommendation No. 7 of the Corporate Governance Code.

    * * * That being said, we submit the following proposals for your approval:

    "The Shareholders' Meeting of Telecom Italia S.p.A., convened in ordinary session,

    • having regard to the termination of the office of Director Domitilla Benigni, who resigned on September 15, 2025;

    • noting that, pursuant to Article 2386 of the Italian Civil Code, on September 25, 2025, the Company's Board of Directors co-opted Alessandra Perrazzelli to replace the resigning director;

    • noting the proposal of the Board of Directors contained in the explanatory report;

    • taking into account that the term of office of the current Board of Directors will expire with the approval of the financial statements as of December 31, 2026 (as per the resolution of the Shareholders' Meeting of April 23, 2024);

      resolves

      to appoint Ms. Alessandra Perrazzelli, born in Genoa on August 13, 1961 (Tax code: PRRLSN61M53D969F) as a member of the Company's Board of Directors, whose term of office will expire together with that of the other directors currently in office and, therefore, on the date of the Shareholders' Meeting called to approve the financial statements for the year ending December 31, 2026.

      "The Shareholders' Meeting of Telecom Italia S.p.A., convened in ordinary session,

    • having regard to the termination of office of Director Umberto Paolucci, who resigned on December 10, 2025, with effect from January 1, 2026;

    • noting that, pursuant to Article 2386 of the Italian Civil Code, on December 21, 2025, the Company's Board of Directors co-opted Prof. Lorenzo Cavalaglio to replace the resigning director, effective January 1, 2026;

    • taking note of the proposal of the Board of Directors contained in the explanatory report;

    • taking into account that the term of office of the current Board of Directors will expire with the approval of the financial statements as of December 31, 2026 (as per the resolution of the Shareholders' Meeting of April 23, 2024);

      resolves

      to appoint Mr. Lorenzo Cavalaglio born in Rome on June 28, 1973 (Tax Code CVL LNZ 73H28H501I ) as a member of the Company's Board of Directors, whose term of office will expire together with that of the other directors currently in office and, therefore, on the date of the Shareholders' Meeting called to approve the financial statements for the year ending December 31, 2026.

      Milan, December, 29 2025

      For the Board of Directors of TIM Alberta Figari

      (Chair of the Board of Directors)

      Assemblea degli azionisti di TIM S.p.A. del 28 gennaio 2026

      Dichiarazione del candidato Lorenzo CAVALAGLIO alla carica di Consigliere di Amministrazione.

      Il sottoscritto Lorenzo CAVALAGLIO, nato a Roma il 28 giugno 1973, codice fiscale CVLLNZ73H28H501I, premesso

      1. di essere stato nominato per cooptazione Amministratore di TIM S.p.A. (nel seguito, anche la "Società") in data 21 dicembre 2025, con effetto dal 1º gennaio 2026 e con mandato fino alla prossima Assemblea, in sostituzione del Consigliere Umberto Paolucci che ha rassegnato le proprie dimissioni dal suo ruolo con effetto dal 1º gennaio 2026;

      2. di essere disponibile ad accettare la candidatura che il Consiglio di Amministrazione della Società proporrà alla prossima assemblea convocata per il giorno 28 gennaio 2026;

      3. di essere a conoscenza dei requisiti che la normativa vigente, Io Statuto della Società (art. 9), il Codice di Corporate Governance di Borsa Italiana (edizione gennaio 2020) e i Principi di Autodisciplina adottati dalla Società (art. 3) prescrivono per l'assunzione della carica di Amministratore della stessa

sotto la propria ed esclusiva responsabilità, anche ai sensi e per gli effetti di cui all'art. 76 del D.P.R. 28 dicembre 2000, n. 445 per le ipotesi di falsità in atti e di dichiarazioni mendaci,

DICHIARA

  • di accettare irrevocabilmente la candidatura e l'eventuale nomina alla carica di Amministratore di TIM S.p.A.;

    di accettare i principi di comportamento di cui al Codice etico e di condotta del Gruppo Telecom Italia, ai Principi di autodisciplina della Società e al Regolamento del Consiglio di Amministrazione di TIM S.p.A.;

    di poter dedicare ai compiti di amministratore di TIM S.p.A. il tempo necessario per un loro efficace e diligente svolgimento;

  • l'inesistenza di cause di ineleggibilità, decadenza ed incompatibilità (anche ai sensi degli art. 2382 e 2387 cod. civ.) a ricoprire la carica di Consigliere di Amministrazione della Società e il possesso, al medesimo fine, dei requisiti prescritti dalla normativa, anche regolamentare, vigente e dallo Statuto sociale;

  • di non trovarsi nelle condizioni di cui all'art. 2390 cod. civ. (essere socio illimitatamente responsabile, amministratore o direttore generale in società concorrente con TIM S.p.A.,

esercitare per conto proprio o di terzi attività in concorrenza con quelle esercitate dalla Società); di possedere i requisiti di indipendenza previsti dalla normativa e dalla disciplina regolamentare vigente;

di possedere i requisiti di indipendenza contemplati dal Codice di Corporate Governance di Borsa Italiana (edizione gennaio 2020);

di non ricoprire incarichi di amministrazione o controllo in misura superiore a quanto previsto dai Principi di Autodisciplina della Società;

di essere informato e di autorizzare, ai sensi della disciplina applicabile in materia di protezione e trattamento dei dati personali, che i suoi dati personali siano raccolti e fatti oggetto di trattamento/diffusione da parte della Società nell'ambito del procedimento per il quale la presente dichiarazione viene resa;

di impegnarsi a comunicare tempestivamente ogni successiva variazione delle informazioni rese con la presente dichiarazione e nell'ambito del proprio curriculum vitae, contenente - tra l'altro - l'indicazione degli incarichi di amministrazione e controllo ricoperti presso altre società, impegnandosi altresì a produrre, su richiesta di TIM S.p.A., la documentazione idonea a confermare la veridicità dei dati dichiarati;

di autorizzare la pubblicazione del proprio curricululTl Vitae da parte della Società, come da disposizioni applicabili.

Roma, 23 dicembre 2025

(Lorenzo Cavalaglio)