Half Year Consolidated Report 2026

1 CONSOLIDATED HALF -YEAR REPORT AS AT 30 JUNE 2026

HALF -YEAR

CONSOLIDATED

REPORT

2026

2 CONSOLIDATED HALF -YEAR REPORT AS AT 30 JUNE 2026

UNIDATA S.p.A.

Viale Alexandre Gustave Eiffel 100 – 00148 ROME Tax Code, VAT Number and Rome Companies Register Number 06187081002 R.E.A. Number RM -956645 Share capital Euro 10,000,000

3 CONSOLIDATED HALF -YEAR REPORT AS AT 30 JUNE 2026

CONTENTS

CORPORATE AND CONTROL BODIES ................................ ................................ ................................ . 4 DIRECTORS’ REPORT ................................ ................................ ................................ ................................ 6 FINANCIAL STATEMENTS ................................ ................................ ................................ ..................... 28 EXPLANATORY NOTE ................................ ................................ ................................ ............................. 34

INDEPENDENT AUDITORS’ REPORT AND CERTIFICATION OF THE FINANCIAL

REPORTING OFFICER ................................ ................................ ................................ .............................. 69

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CORPORATE AND CONTROL

BODIES

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BOARD OF DIRECTORS

Chairman Renato Brunetti

Deputy Chairman Marcello Vispi

Directors Giampaolo Rossini

Paolo Bianchi

Maurizio Tucci

Independent Directors Alessandra Bucci

Barbara Ricciardi

Stefania Argentieri Piuma

Luca Annibaletti

BOARD OF STATUTORY AUDITORS

Chairman Dante Valobra

Standing Auditors Antonia Coppola

Luigi Rizzi

Alternate Auditors Antonella Cipriano

Giovanni Lanzillotta

INDEPENDENT AUDITORS

EY S.p.A.

SUPERVISORY BODY

Chairman Sergio Beretta

Members Maria Teresa Colacino

Marco Conti

FINANCIAL REPORTING OFFICER

Roberto Giacometti

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DIRECTORS’ REPORT

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Dear Directors,

the consolidated half -year report as at 30 June 2026 of the Unidata Group (the “Group” or “Unidata”), which we submit for your approval, consists of the statement of financial position, the income statement, the cash flow statement, the statement of change s in equity, the statement of comprehensive income and the explanatory note, and has been prepared in accordance with the International Financial Reporting Standards (IFRS or IAS) issued by the International Accounting Standards Board (IASB), as interprete d by the International Financial Reporting Interpretations Committee (IFRIC) and endorsed by the European Union.

The consolidated half -year report has been prepared in compliance with Article 154 -ter (Financial reports) of Italian Legislative Decree No. 58/1998 (Consolidated Law on Finance – TUF), as subsequently amended and supplemented, and in accordance with IAS 3 4 Interim Financial Reporting , as well as with the measures issued in implementation of Article 9 of Italian Legislative Decree No. 38/2005.

The half -year just ended reported total consolidated revenues of Euro 53,632,709, consolidated EBITDA of Euro 13,144,496 (consolidated Adjusted EBITDA of Euro 13,737,554) and a consolidated net profit of Euro 2,031,909.

Reference should be made to the remainder of the directors’ report for a more detailed analysis of the financial position of the Unidata Group (the “Group” or “Unidata”) as at 30 June 2026.

The Italian telecommunications services market Unidata S.p.A., founded in 1985, operates in the telecommunications and digital services sector, a field characterised by constant technological evolution and growing demand for high -performance solutions.

Over the years, the Group has progressively streng thened its positioning as an infrastructure operator and integrated service provider, developing a business model focused on network quality, innovation and the vertical integration of its offering.

The Group’s activities are organised into four main business areas: Fibre & Networking, Cloud & Data Center, IoT & Smart Solutions and Managed Services, the latter dedicated to the design and management of customised solutions for business, corporate and p ublic administration customers.

Unidata’s operating model, based on proprietary infrastructure and in -house specialist expertise, enables the Group to respond flexibly and rapidly to the dynamics of a market undergoing profound transformation, characterised by the progressive spread of f ibre optics, the digitalisation of processes and the growing integration between connectivity and value -added services. In this context, the Group continues to implement its strategic development and investment guidelines, with the aim of consolidating its presence in the areas with the greatest potential, expanding its customer base and supporting balanced and lasting growth over the medium to long term.

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Source: AGCOM Quarterly Observatory, latest available survey (No. 1/2026)

Fixed network – Total direct accesses The analysis of direct accesses on the fixed network over the period December 2021 – December 2025 confirms the structural process of technological transition towards infrastructure with greater transmission capacity, with a progressive abandonment of lega cy copper -based solutions.

The total number of lines remains substantially stable, standing at around 20.5 million accesses in recent years (20.53 million in December 2025, +23 thousand accesses year on year), confirming a market that is now mature in terms of penetration but underg oing significant qualitative evolution.

From a technological standpoint, FTTH (Fibre -to-the-Home) shows the most significant growth, rising from 13.6% of accesses in December 2021 to 34.1% in December 2025 (+5.6 percentage points in the last year alone). The increase of over 20 percentage points over the period reflects the consolidation of pure fibre optics as the reference technology for ultra -broadband, supported by infrastructure investments and growing demand for high -performance connectivity from households and businesses.

At the same time, copper -based technologies are progressively contracting: the FTTC share fell from 50.3% to 40.5% over the same period, while copper lines dropped from 27.1% to 11.0%, confirming the structural decommissioning of lower -performing infrastru cture. The FWA segment, by contrast, shows moderate and steady growth, rising from 8.9% to 13.1%, maintaining a complementary role in areas with lower wired network coverage.

Overall, the market therefore shows stability in quantitative terms and a profound qualitative transformation, with a rebalancing in favour of FTTH networks and the progressive rise of alternative infrastructure operators, including companies of Unidata’s size, capable of competing by leveraging proprietary networks, territorial proximity and integrated value -added services.

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Source: AGCOM Quarterly Observatory, latest available survey (No. 1/2026)

The analysis of market shares in the telecommunications sector as at December 2025 confirms the continuation of the process of progressive competitive redistribution in the fixed network sector.

TIM remains the leading operator with a share of 35.5%, down 1.6 percentage points compared with December 2024, continuing the trend of gradual contraction already observed in recent years. The Fastweb + Vodafone group stands at 28.2% ( -0.9 p.p.), consolid ating its position as the second -largest market player, while Wind Tre records a share of 14.4%, slightly up (+0.2 p.p.).

Among mid -sized operators, Sky Italia (+0.6 p.p., 4.2% share) and Iliad (+0.7 p.p., 2.4% share) grew, while Tiscali declined ( -0.3 p.p., 2.6% share). EOLO remains stable at 3.4%.

Particularly significant is the trend of the “Other operators” category, which reaches an overall share of 9.3%, up 1.4 percentage points year on year. This trend highlights the strengthening of alternative and infrastructure operators, including companies of Unidata’s size, which are progressively expanding their presence by leveraging proprietary FTTH networks, territorial specialisation and an integrated offering of digital services.

Overall, the telecommunications market still shows a structure concentrated on the main national operators, but characterised by a gradual competitive rebalancing in favour of alternative players, against a backdrop of growing demand for high -capacity conn ectivity and value -added services.

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Source: AGCOM Quarterly Observatory, latest available survey (No. 1/2026)

The analysis of broadband and ultra -broadband accesses on the fixed network over the period December 2021 – December 2025 shows a profound transformation in the technological composition of the market, against a substantially stable total number of lines.

Total accesses rose from 18.82 million in December 2021 to 19.38 million in December 2025 (+314 thousand accesses year on year, i.e. +1.6%), with limited but steady growth over the last two years. This trend confirms the maturity of the market in quantitat ive terms, alongside significant evolution in qualitative terms.

The DSL component recorded a structural and progressive contraction, falling from 4.10 million lines at the end of 2021 to 1.11 million in December 2025 ( -324 thousand lines year on year, i.e. -22.6%), a decrease of over 70% over the period considered. Thi s figure confirms the acceleration of the decommissioning of copper -based technologies, which are now residual in the broadband offering landscape.

At the same time, the other technologies (FTTH, FTTC and FWA) showed continuous growth, rising from 14.72 million accesses at the end of 2021 to 18.27 million in December 2025 (+639 thousand accesses year on year, i.e. +3.6%). The increase is driven in par ticular by the spread of pure fibre optics (FTTH), which represents the main direction of infrastructure development in the sector.

Overall, the data confirm the consolidation of ultra -broadband as the reference standard for the Italian market, with a progressive shift of demand towards high -capacity, more reliable solutions – a scenario that favours infrastructure and integrated opera tors capable of offering advanced connectivity and value -

added digital services.

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Source: AGCOM Quarterly Observatory, latest available survey (No. 1/2026)

The analysis of the distribution of accesses by technology and operator as at December 2025 vs December 2024 confirms the process of structural rebalancing of the market towards higher -capacity infrastructure, with differing dynamics across the various tec hnological segments.

FWA (Fixed Wireless Access) The segment recorded annual growth of +13.2%, reaching 2.68 million accesses. The technology continues to play a complementary role in areas with lower wired network coverage. The competitive structure shows a significant presence of alternative and specia lised operators, with positive momentum also in the “Other” category, confirming the vitality of the segment and the opportunities for small and medium -sized operators with strong local roots.

FTTC (Fibre -to-the-Cabinet) The segment continues to contract, recording a reduction of -8.9% year on year and standing at 8.32 million accesses. The decline mainly affects the major national operators, reflecting the progressive shift of demand towards higher -performing FTTH solutio ns. The reduction in the shares of the incumbent players confirms the transitional nature of this technology, which is increasingly being replaced by pure fibre optics.

FTTH (Fibre -to-the-Home) Pure fibre optics confirms itself as the most dynamic segment, with growth of +19.6% YoY and a total of 7.01 million accesses. The expansion is spread across several operators and is particularly significant in the “Other” category, which shows an increase in share year on year. This trend reflects the strengthening of alternative infrastructure operators investing in proprietary networks and integrated offering models.

Overall, the data confirm a structural transformation of the Italian fixed market: the progressive reduction of hybrid and copper technologies is offset by the strong expansion of FTTH and the complementary contribution of FWA. In this scenario, alternativ e operators – including companies of Unidata’s size – are playing a growing role in the process of infrastructure modernisation, leveraging operational flexibility, territorial proximity and the integration between connectivity and value -added digital serv ices. In

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particular, it is noted that in the business segment the Observatory ranks Unidata among the leading national operators, with a 1.5% share of business broadband and ultra -broadband accesses as at December 2025.

Share price performance

Performance of the Unidata share during 2026, STAR Milan segment of Borsa Italiana. Source: Borsaitaliana.it

During the first half of 2026, the Unidata share showed a performance characterised by an initial phase of appreciation, followed by a correction in the central part of the period and a progressive stabilisation in the final months of the half -year.

In January, prices recorded a significant appreciation, reaching the annual high of Euro 3.58 on 29 January 2026. In the following months the share went through a phase of decline, in a context of general volatility in equity markets, touching the period l ow of Euro 2.68 on 14 April 2026.

From the second half of April the share showed a gradual capacity to recover, returning steadily to the range between Euro 2.8 and Euro 3.0 and closing the half -year in the Euro 2.85 –2.90 area, at levels substantially in line with those at the start of the year, with a market capitalisation of approximately Euro 89 million. During the period the Company also distributed a dividend of Euro 0.01 per share, with ex -

dividend date 18 May 2026.

Overall, the performance in the first half of 2026 reflects the market’s confidence in the industrial strategy pursued by the Company, in a sector context characterised by infrastructure consolidation and growing demand for high -capacity connectivity. The share’s ability to absorb the correction recorded in the central part of the period, returning to levels consistent with those at the start of the year, is a sign of resilience and of the stability perceived by investors.

Considerations on the military conflicts between Russia and Ukraine and between Israel and Palestine, customs tariffs and the Iran crisis With reference to the armed conflict that broke out in February 2022 between Russia and Ukraine, as already highlighted in the 2025 financial statements, Management is closely monitoring any operational, economic and financial consequences that may arise t herefrom. However, there are no specific updates compared with what was already disclosed in the 2025 financial statements. The same monitoring is carried out constantly with reference to the conflict between Israel and Palestine and to the conflict that broke out at the end of February 2026 with particular reference to Iran.

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The Group has no exposure either to the countries involved in the war or to companies operating in them;

consequently, as at the date of preparation of these consolidated financial statements, there are no factors or evidence that could affect the financia l statement items as at 30 June 2026.

It is also noted that the tariffs introduced by the United States of America during 2025 have no impact on the Group’s business.

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Key consolidated figures as at 30 June 2026 The analysis of the consolidated income statement, as shown in the table below, highlights positive economic results in terms of volumes and margins.

Amounts in Euro As at 30 June 2026 As at 30 June

2025 Changes

Revenues from customers 52,451,822 48,576,747 3,875,075 Other revenues 1,180,887 897,337 283,550

TOTAL REVENUES 53,632,709 49,474,084 4,158,625

Costs of raw materials and consumables 2,076,951 2,239,880 -162,929 Costs for services 30,874,811 28,307,010 2,567,801 Other operating costs 1,336,916 965,967 370,949 Write -downs of assets and other provisions 38,872 57,412 -18,540

TOTAL PRODUCTION COSTS 34,327,550 31,570,269 2,757,281

64% 64%

VALUE ADDED 19,305,159 17,903,815 1,401,344

36% 36%

Personnel costs 6,160,663 5,677,403 483,260

11% 11%

EBITDA Reported 13,144,496 12,226,412 918,084 EBITDA Margin 24.51% 24.71%

EBITDA Adjusted

13,737,554

13,679,837 57,717

EBITDA Margin ADJ 25.61% 27.65%

Depreciation and amortisation 6,152,845 5,492,971 659,874

OPERATING RESULT 6,991,651 6,733,441 258,210

Financial income 190,022 1,990,453 -1,800,431 Financial expenses 2,010,645 1,878,796 131,849 Expenses (Income) from securities and equity -accounted investments 1,915,333 1,032,759 882,574

TOTAL FINANCIAL INCOME AND EXPENSES -3,735,956 -921,102 -2,814,854

PROFIT BEFORE TAX 3,255,695 5,812,339 -2,556,644

Income taxes 1,223,786 1,707,515 -483,729

RESULT FOR THE PERIOD 2,031,909 4,104,824 -2,072,915

As regards the analysis of the main economic indicators as at 30 June 2026, the most significant indicators are analysed below, namely:

• Total revenues for the period;

• Value added, determined as the difference between total revenues and production costs (excluding

personnel costs);

• EBITDA, given by the sum of the operating result and depreciation and amortisation;

• EBITDA Adjusted , given by the sum of EBITDA and extraordinary costs for the period;

• Net Financial Position (financial indebtedness), determined pursuant to ESMA Document ESMA32 -

382 -1138 of 4 March 2021 of the ESMA (European Securities and Markets Authority).

It is also noted that EBITDA Adjusted has been calculated without taking into account the reversal of the intercompany margin realised by the Group with respect to the associates (Unifiber S.p.A. and Unitirreno Submarine Network S.p.A.) in connection with the contracts awarded. This reversal was made consistently

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with the requirements of IAS 28 in measuring the investees under the equity method. It should be noted that, since IAS 28 does not operationally regulate how to classify this adjustment of internal profits in the income statement, the Group deemed it prude nt to classify the margin reversal as a deduction from revenues in the “reported” Income Statement; however, from a management standpoint, Top Management considers this margin to be of a purely financial nature, and consequently the Income Statement reclas sified for management purposes (i.e. the “adjusted” Income Statement) includes this reversal among financial expenses from equity -accounted investments. It is also noted that the comparative figures for EBITDA Adjusted as at 30 June 2025 have also been appropriately restated.

Value added increased compared with 30 June 2025, as a result of the increase in revenues in both the Retail and Infrastructure areas. The same increase is also recorded in EBITDA Reported and, albeit to a lesser extent, in EBITDA Adjusted.

For a better understanding of the Group’s financial position, a reclassified Statement of Financial Position is provided below, highlighting the Net Financial Position (financial indebtedness).

Amounts in Euro 30/06/2026 31/12/2025 Trade receivables 27,401,370 34,428,836 (Trade payables) -29,068,264 -35,071,837 Closing inventories 2,791,196 2,154,518 Contract assets 4,905,901 450,000 Other current assets – (liabilities) -3,918,892 -5,557,647

NET WORKING CAPITAL 2,111,311 -3,596,130

Intangible assets and goodwill 53,370,866 53,507,432 Right -of-use assets 10,705,319 11,306,352 Plant and machinery 62,299,229 62,187,567 Investments 14,982,488 12,961,301

FIXED ASSETS 141,357,902 139,962,652

Derivative financial instruments -480,103 -846,608 Employee benefits (T.F.R.) -2,403,246 -2,494,025 Deferred tax assets / (liabilities) -3,396,357 -3,506,580 Other non -current assets - (liabilities) -4,570,933 -5,127,456

NET INVESTED CAPITAL 132,618,574 124,391,853

NET FINANCIAL POSITION (FINANCIAL

INDEBTEDNESS) 43,907,205 37,689,514

Share Capital 10,000,000 10,000,000 Reserves 76,679,460 69,709,348 Profit (loss) for the year 2,031,909 6,992,990

EQUITY 88,711,369 86,702,338

TOTAL SOURCES (NFP + EQUITY) 132,618,574 124,391,853

With reference to the evolution of the balance sheet items described above, the half -year closed with negative financial indebtedness (Net Financial Position) of Euro 43,907,205. The change compared with 31 December 2025 reflects the investment in the asso ciate Unicenter S.p.A., incorporated on 23 March 2026, for Euro 4,500,000, in addition to the work carried out on certain special projects, the cash effects of which are expected in the second half of 2026, for Euro 11,650,059. Net of such work, Adjusted net financial indebtedness amounts to Euro 32,257,147.

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The detailed statement of Financial Indebtedness, prepared pursuant to ESMA Document ESMA32 -382 -

1138 of 4 March 2021 of the ESMA (European Securities and Markets Authority), is set out below.

(Amounts in Euro) 30/06/2026 31/12/2025 A Cash 12,764,499 25,090,916 B Cash equivalents C Other current financial assets 1,245,326 315,300 D Liquidity (A + B + C) 14,009,825 25,406,216 E Current financial debt (including debt instruments, but excluding the current portion of non -current financial debt) 1,235,365 3,890,864 F Current portion of non -current financial debt 5,691,701 4,047,069 G Current financial indebtedness (E + F) 6,927,066 7,937,933 H Net current financial indebtedness (G - D) - 7,082,759 - 17,468,283 I Non -current financial debt (excluding current portion and debt instruments) 50,989,964 55,157,797 J Debt instruments K Non -current trade and other payables L Non -current financial indebtedness (I + J + K) 50,989,964 55,157,797 M Total ESMA financial indebtedness (H + L) 43,907,205 37,689,514

Revenue analysis

The following table shows the breakdown of revenues.

30/06/2026 30/06/2025 Change Consumer 3,300,554 2,937,036 363,518 Business 13,291,482 11,790,801 1,500,681 of which recurring 11,512,816 11,220,152 292,664 of which project 1,778,666 570,649 1,208,017 Wholesale 2,053,198 849,287 1,203,911 of which recurring 722,221 354,821 367,400 of which project 1,330,977 494,466 836,511 Public Administration 2,346,456 2,711,137 - 364,681 of which recurring 318,690 478,132 - 159,442 of which project 2,027,766 2,233,005 - 205,239 Reseller 15,075,511 15,080,651 - 5,140 Voice trading and voice network 2,297,206 3,163,888 - 866,682 Service revenues 38,364,407 36,532,800 1,831,607 Creation & Delivery 13,732,463 11,343,595 2,388,868 Materials trading 354,952 700,352 - 345,399 Infrastructure revenues 14,087,415 12,043,947 2,043,468 Deferred income 551,729 768,563 - 216,834 Sundry income 629,158 128,774 500,384 Total 53,632,709 49,474,084 4,158,625

As regards the Service revenue line, which mainly includes revenues from Internet access services provided via Fibre Optic, XDSL and wireless, there was a substantial increase in production across the main customer categories, thanks to the acquisition of new Internet service contracts entered into with customers.

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A table explaining the calculation of average revenue per user (ARPU), broken down by the main customer categories and compared with the figure for the same period of the previous year and with the figure at the end of the previous year, is set out below.

Customer type Number of customers as at 30/06/2026 ARPU as at 30/06/2026 Number of customers as at 31/12/2025 ARPU as at 31/12/2025 Number of customers as at 30/06/2025 ARPU as at

30/06/2025

Consumer 27,322 21 25,798 21 24,101 22 Business 5,307 353 5,224 352 5,216 361

Infrastructure revenues mainly relate to the sale of fibre optic network infrastructure to the investee Unifiber S.p.A., in addition to other revenues from delivery and assurance activities.

The item “Deferred income”, amounting to Euro 551,729, mainly includes capital grants accruing to the period and the reversal of deferred income relating to pre -2019 I.R.U. projects.

Research and Development activities The Unidata Group owes its growth over the decades, and indeed its very birth, to the drive and interest that have always characterised its founders and the main protagonists of its history. What most characterises Unidata, still today, is curiosity and se rious dedication to the most relevant technological innovations.

In the first half of the year the Company was involved in three national Research and Development projects, two financed under Mission 4 of the National Recovery and Resilience Plan (the Rome Technopole Project and the Sprint project) and one financed by t he MIMIT under the “Accordi per l’innovazione” (Innovation Agreements) call.

The Rome Technopole project is financed under “ECOSISTEMI DELL’INNOVAZIONE Public Notice No.

3277” within the National Recovery and Resilience Plan - Mission 4 Education and Research - Component 2 - Investment 1.5, financed by the European Union - Next Gen erationEU” Unidata is an innovative company, both for the sector in which it operates and for its vocation and strategic choice of always dedicating resources and investments to Research and Development activities.

The project, which started in June 2022, sees Unidata engaged in SPOKE 1 (Research and Innovation) and in FLAGSHIP PROJECT 8 dedicated to USER CENTRIC Artificial Intelligence, with a particular focus on the use of AI and IoT technologies for the responsibl e and optimised use of water resources. In addition to Industrial Research and Experimental Development activities, Unidata will make available to the project and to local businesses its HPC (High Performance Computing), IaaS and PaaS infrastructure, which will be used for Industrial Research activities.

The project was completed in June 2026.

The “SPRINT” project, part of the RESTART project – “RESearch and innovation on future Telecommunications systems and networks, to make Italy more smART” financed with NRRP funds under Mission 4 Component 2 Investment 1.3. Unidata’s role in the project, wh ich lasts 18 months, is to test artificial intelligence applications and the know -how generated by research centres in relevant use cases involving IoT technologies applied to water infrastructure.

The project was completed in April 2026 In the first half of the year work continued on the AI.FER Research and Development project, which started in May 2025, dedicated to the development of technical -economic models, based on artificial intelligence, for Energy Communities. The aim is to find a model that also allows individual citizens to participate in a

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Renewable Energy Community (CER) with a defined and attractive economic return. The project, financed by the MIMIT under the “Accordi per l’Innovazione”, will last 36 months, and testing/validation will be carried out using Unidata’s photovoltaic plants in the Commercity area.

During the period, the WP4 Research activity assigned to Unidata was completed in line with the project Time Plan, and Unidata is now engaged in pre -competitive development activities.

The Company has set up, within its own organisation, a working group (Unidata Lab) made up of very young graduates, led by a fully dedicated figure, engaged in the study, testing and development of wireless technologies suited to the Internet of Things (Io T).

Among the various technologies available for this type of solution, Unidata has chosen to focus and to specifically dedicate its attention and investments on LoRa ™ technology and the related LoRaWAN ™ network standard.

This innovative technology makes it possible – thanks to its specific and significant advantages, such as wide coverage range, very long battery life, bidirectional data transmission and significant deep indoor penetration – to turn countless IoT solutions into a concrete and truly cost -effective reality. It is specified that the trademarks indicated above are owned by Semtech Corporation and that LoRa technology is developed and managed by the latter.

In the first half of 2026, Research and Development activities continued to consolidate increasingly around the application of artificial intelligence to the historical data series acquired through IoT networks, with particular attention to applying these innovations to Water Networks, with the vision of starting a process of transforming traditional water infrastructure into a new intelligent Smart Grid. Neural models for clustering water users and predicting water consumption have been developed.

Relations with parent companies, associates, affiliates and other related parties The Company is not subject to any management and coordination activity.

For the definition of “related party”, reference is made to the international accounting standard IAS 24, which defines as related parties all those “entities that have the ability to control another entity, or to exercise significant influence over the fi nancial and operating decisions of the reporting entity, or key management personnel of the entity”.

Transactions with related parties comply with principles and criteria of transparency and substantive and procedural fairness, cannot be classified as either atypical or unusual and fall within the ordinary course of the Company’s business; where not concl uded on standard terms or dictated by specific regulatory conditions, they were in any case settled on terms and conditions equivalent to those prevailing in arm’s length transactions.

As regards Unifiber S.p.A., during the current year Unidata carried out, through its suppliers, activities for the construction of fibre optic network infrastructure on behalf of the investee Unifiber S.p.A., generating revenues from the latter as at 30 Ju ne 2026 of Euro 13,271,652, as design revenues and revenues for works and delivery; Euro 60,000 for the service contract for the use of common spaces and administrative services; Euro 290,550 for the development of the investee’s commercial area and other ancillary activities.

Unihold S.r.l., whose shareholders include some of the same shareholders as Unidata, can be classified as a related party. It is noted that Unidata has payables to Unihold S.r.l. totalling Euro 355,619 for rent and utilities payable in connection with the lease agreement for Unidata’s registered and administrative office (owned by Unihold S.r.l.). Finally, it is noted that Unidata applied IFRS 16 to the lease agreement with Unihold S.r.l. for its registered office; consequently, Euro 1,302,562 of right -of-use assets, Euro 1,381,311

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of financial liabilities, Euro 153,243 as the depreciation charge on those right -of-use assets and Euro 11,476 of financial expenses were recognised. Finally, the costs relating to the re -charging of electricity for the Company’s registered office amount t o Euro 307,909.

With reference to Unitirreno Holding S.p.A., as indicated in the Notes, Unidata holds a receivable of Euro 2,795,978 in respect of non -interest -bearing loans. In addition, with regard to Unitirreno Submarine Network S.p.A., at the end of 2025, in the previous financial year, capitalised IRU rights of Euro 2,400,000 and IRU rights held for resale of Euro 7,663,000 were purchased.

With reference to Unifiber Italy S.p.A. and Unifiber Puglia S.r.l., there are no significant intercompany balances as at 30 June 2026.

On 23 March 2026, UniCenter S.p.A. was incorporated jointly with Azimut Libera Impresa SGR S.p.A.

UniCenter S.p.A., owned 75% by Azimut and 25% by Unidata, and of which Unidata will have operational management, will build a TIER IV green and neutral data c entre in Rome, with a power of approximately 20 MW and a capacity of over 2,000 racks, for a total area of 13,000 sq m, with a base of national and international customers and using energy from renewable sources. In this context, UniCenter S.p.A. will oper ate on a wholesale -only basis, while Unidata will independently continue to provide services and/or carry out activities in the sector through its two data centres in Rome and Milan and through UniCenter S.p.A.’s infrastructure for those customers requirin g services with a power exceeding 30 kW. During the current half -year, the Group contributed Euro 4.5 million to Unicenter S.p.A. as share capital and capital contributions.

As regards investments in other companies and consortia, reference is made to the Notes.

No guarantees have been given or received for payables and receivables contracted with related parties.

The summary table of assets, liabilities, costs and revenues with related parties as at 30 June 2026 is set out below.

Related party Assets Liabilities Costs Revenues Unifiber S.p.A. 5,098,547 337,914 666,197 13,622,202 Unifiber Puglia S.r.l. 44,961 92,825 Unifiber Italy S.p.A. 7,831,275 880,685 2,084 Unitirreno Holding S.p.A. 5,493,227 993,695 Unitirreno Submarine Network

S.p.A. 2,761,924 5,936,024 378,681 456,221

Unicenter S.p.A. 4,460,247 40,953 966 Unihold S.r.l. 1,302,562 1,736,930 472,627 188,113 Total 26,992,744 8,010,868 3,432,838 14,362,410

Risk and uncertainty management In compliance with Article 2428 of the Italian Civil Code, the main risks to which the Group is exposed and the actions planned to address them are set out below.

Risk connected with the performance of the telecommunications market The persistence of the negative economic situation that has characterised the macroeconomic framework, also in previous years, represents a not insignificant component of the contraction suffered by the telecommunications sector during the same year. The t elecommunications market continued to be characterised by an overall increase in volumes but by a greater contraction in tariffs. The telecommunications market is competitive in terms of innovation, prices and efficiency, and ICT technologies can underpin the recovery of productivity, the improvement of international

20 CONSOLIDATED HALF -YEAR REPORT AS AT 30 JUNE 2026

competitiveness and the creation of new skilled employment. The Group competes with larger companies and industrial groups and specialised operators that may have greater resources, enabling better positioning in the reference market.

The high level of customer loyalty in the geographical area of operation and the high quality of the services offered contribute to the success of the Company’s activities, enabling it to maintain and increase its shares in the markets in which it operates precisely through the offering of innovative services capable of ensuring adequate levels of profitability.

Sector risk

The Italian telecommunications sector is highly regulated and governed by extensive and complex legislation and regulations, especially in relation to licences, competition, leased lines, interconnection agreements and prices. The constantly evolving regul atory, legislative and political framework may constitute one of the main risk factors.

Changes in existing legislation and regulations, both at national and EU level, could adversely affect the economic results of companies in the sector through the introduction of new charges or the increase of existing ones, and any sanctions imposed by th e Italian Communications Authority (AGCOM) could adversely affect the Group’s business and its results of operations, financial position and cash flows.

Changes in the regulatory framework could in fact make it difficult for the Company to obtain services from other operators at competitive prices or limit access to services necessary for the conduct of its business.

The possibility of regulatory developments that weaken the effectiveness of the current rules established by the supervisory bodies (AGCOM) and that could favour the dominant operator to the detriment of other operators is an element of potential risk.

The Group pays constant attention to the evolution of the sector’s regulatory framework, through constant monitoring and constructive dialogue with the Institutions, aimed at seeking opportunities for discussion and promptly assessing changes, working to m inimise any resulting economic impact.

Risks connected with the technological dependence of the telecommunications sector The Group operates in a technologically complex market exposed to the high level of risk inherent in Information Technology (IT) and Information and Communication Technology (ICT) systems, and invests adequate resources in preventing the risks of damage to and malfunctioning of these systems.

The Group’s ability to adapt its infrastructure to technological developments has enabled it to remain constantly evolving and in line with its main competitors. In recent years the Company has invested in the reliability of its core business systems. The Rome data centres are highly reliable, equipped with the main security, fire prevention and flood prevention systems, and operating staff carry out data back -ups, ensuring a good level of reliability.

The Group strives to respond to rapid technological change and to develop the features of its services and products so as to adapt promptly to changing market needs and to maintain its competitive position in the market unchanged.

It is noted that during the period in question there were no cyber attacks against the Group and that adequate safeguards are in place within the company in this regard.

Credit risk

21 CONSOLIDATED HALF -YEAR REPORT AS AT 30 JUNE 2026

Credit risk is the probability that the debtor will find itself in difficulty and be unable to meet its obligations.

That said, no particular critical issues have been identified with regard to the receivables recognised in the statement of financial position.

The prevailing amount of receivables relates to commercial relationships with customers, and also in this case the risk may be considered limited in view of the activities regularly carried out by the Company to identify possible impairment losses connecte d with the occurrence of events that may prove the existence of significant financial difficulties of the debtor (non -payment, commencement of insolvency proceedings).

The Group’s credit exposure is spread over a large number of customers and the reference market is exclusively the domestic market.

Continuous monitoring of customers and the increasing acquisition of customers with automatic payment methods (credit card, SDD direct debit) have over time shown a lower risk of default. The responsiveness of the credit collection department in suspending services in the event of arrears due to non -payment of fees due has further minimised the risk of an increase in the receivables of individual positions.

Liquidity risk

Liquidity risk is the risk that the company is unable to meet its payment commitments due to difficulty in raising funds. The consequence is a negative impact on the economic result should the company be forced to incur additional costs to meet its commitm ents or, as an extreme consequence, a situation of insolvency that jeopardises the company’s going concern status. The liquidity generated is held in current accounts with leading banks.

Liquidity risk is to be understood as the potential difficulty in meeting financial liabilities and, although closely correlated with delays in collections from customers, no liquidity difficulties have been noted.

The breakdown of loans by maturity is set out below.

Loan (Amounts in Euro) Outstanding debt Within 12 months Beyond 12 months Beyond 5 years Intesa Sanpaolo No. O1R1010534135 210,000 210,000 BNP Paribas No. GEFI6163629 325,000 300,000 25,000 Pool (Unicredit, Intesa San Paolo, BNP Paribas, Cassa Depositi e Prestiti) 47,385,487 3,215,036 44,170,451 15,128,399 Elite Intesa Sanpaolo Basket Bond 6,086,511 1,966,665 4,119,846 Total 54,006,998 5,691,701 48,315,297 15,128,399

Risk connected with fluctuations in exchange rates and interest rates The Group purchases and operates essentially in Italy, although some supplies, albeit for insignificant amounts, are sourced from foreign suppliers; therefore, the exchange rate fluctuation risk to which the Group is exposed is minimal.

The risks linked to interest rate fluctuations mainly relate to the risk of changes in the interest rate on the medium/long -term loans taken out during the year. The Group has entered into “ Interest Rate Swap ” and “Floor ” derivative financial contracts with the banks Unicredit, Intesa Sanpaolo and BNP Paribas, aimed at eliminating the risk of changes in the interest rate connected with the loans. Reference is made to the Notes for a detailed analysis of the derivative fin ancial instruments and of the loans hedged by them.

The financial risk arising from interest rate fluctuations on bank credit facilities is not considered significant, given the positive management of all banking relationships with financial institutions. Short -

22 CONSOLIDATED HALF -YEAR REPORT AS AT 30 JUNE 2026

term bank credit facilities for current operations are in any case regulated at contractually defined market conditions and rates.

Risk connected with financing requirements On 26 June 2025, the Group renegotiated the loan that had been taken out in 2023 on the occasion of the acquisition of the TWT Group. Thanks to this renegotiation, the Group obtained a significant improvement in the nominal interest rate and at the same ti me obtained greater liquidity, since, against the renegotiated outstanding debt of Euro 32,400,000, the Group obtained a new loan of Euro 50,000,000. The additional liquidity obtained may be used for future investments, in line with the Group’s business pl an.

To hedge this new renegotiated loan, the Group terminated the derivative contracts that hedged the old loan and entered into new ones (reference is made to the paragraph in the Notes on derivative financial instruments).

It is noted that the new loan provides for financial covenants with improved conditions for the Group compared with the covenants included in the old renegotiated loan.

It is also recalled that on 22 July 2022 the Group had made a proposal for a Subscription Agreement and Terms and Conditions relating to the subscription of bonds for an amount of Euro 10,000,000 with Intesa San Paolo S.p.A., accepted by the latter on the same date with the subscription of the bonds as part of a broader transaction known as the “Elite – Intesa Sanpaolo Basket Bond” programme. As part of this transaction, the Issuer Unidata undertook to ensure compliance with specific financial parameters fr om 31 December 2022 and for each reference period: Leverage Ratio; Gearing Ratio; Interest Cover Ratio.

It is noted that all the covenants on the loans of Unidata S.p.A. are currently complied with and that the average annual interest rate on outstanding loans is approximately 4.5%.

Delegation risk

The Group adopts the Organisation, Management and Control Model provided for by Italian Legislative Decree No. 231 of 8 June 2001, most recently approved by resolution of the Board of Directors of 30 January 2023, which introduces a regime of administrativ e liability for companies in relation to certain types of offences committed in the interest or to the advantage of the company itself.

The adoption of the model represents a means of prevention against the risk of offences and administrative breaches provided for by the relevant legislation, as well as a tool for those who act on behalf of the Company to guide their conduct in carrying ou t their activities, but it is also a signal from the company in terms of transparency and accountability in its external relations.

For this reason, the activity of reviewing and updating the Organisational Model is constant and attentive to understanding every possible change introduced by legislation.

Corporate governance procedures With reference to the governance procedures adopted by the Group, the adoption of the following procedures, which were already in place in the previous year, is noted:

1) Procedure governing related party transactions The procedure in question was adopted by resolution of the Board of Directors of 27 February 2020, in accordance with Article 13 of the Euronext Growth Milan Issuers’ Regulation and pursuant to Article 2391 -

bis of the Italian Civil Code.

23 CONSOLIDATED HALF -YEAR REPORT AS AT 30 JUNE 2026

Under this procedure, the Group has set up a specific register in which Related Parties are recorded (the “Related Parties Register”), which is updated whenever deemed necessary by the competent company function.

In addition, the Related Party Transactions Committee has been established, composed of all the Group’s Independent Directors in office from time to time who are not related to the specific Related Party Transaction. The Related Party Transactions Committe e meets whenever it deems appropriate and at the request of the Chairman of the Board of Directors in relation to a specific Related Party Transaction.

2) Regulation for the management of relevant information and inside information of Unidata S.p.A.

This regulation contains the provisions relating to the internal management and external disclosure of documents and information concerning Unidata and any companies controlled by it, with particular reference to relevant and inside information, as well as to the keeping and updating of the lists of persons having access to relevant and inside information. The regulation is adopted in accordance with the legislation in force on “market abuse” and the guidelines issued in this regard by the Supervisory Autho rity, and is aimed at ensuring the utmost confidentiality in the management of relevant and inside information as well as compliance with the principles of transparency and truthfulness in the external disclosure of such information.

The addressees of the regulation are the directors, statutory auditors, executives and all employees of Unidata and of any Subsidiaries, as well as other persons acting in the name or on behalf of the Group or the Subsidiaries who have access to relevant o r inside information in the exercise of an employment, profession or duties. The addressees of the regulation are required to: a) maintain the confidentiality of the documents, relevant information and inside information that come into their possession and use such information exclusively in the performance of their duties and in compliance with applicable legislation and this regulation; b) use the aforementioned documents and relevant and inside information exclusively in the normal exercise of their duti es and in compliance with the legislation in force; c) not disclose such information to other addressees, without prejudice in any case to the possibility of disclosure in the normal course of their work, profession or duties; d) process such information o nly through authorised channels, adopting every necessary precaution so that its circulation within the company may take place without prejudice to the confidential or inside nature of the information itself.

3) Code of conduct on Internal Dealing This Code of Conduct is adopted by the Group in order to ensure compliance with the obligations under Article 17, paragraph 1, of EU Regulation No. 596/2014 as well as EU Implementing Regulation 2016/523 and EU Delegated Regulation 2016/522.

The Code in question governs the disclosure obligations, restrictions and prohibitions concerning transactions involving the Group’s shares or other financial instruments linked to them carried out by pre -

determined persons, in order to ensure information symmetry vis -à-vis the market and maximum transparency on transactions carried out on the Group’s shares by such persons by virtue of their access to inside information relating to the Group.

The following relevant persons are subject to the obligations set out in the Code: the members of the Group’s Board of Directors; the standing members of the Group’s Board of Statutory Auditors; senior executives who, although not members of the corporate bodies referred to in the preceding points, have regular access to inside information relating directly or indirectly to the Group and have the power to take management decisions that may affect the future development and prospects of the Group.

24 CONSOLIDATED HALF -YEAR REPORT AS AT 30 JUNE 2026

Finally, it is noted that the three procedures mentioned above did not undergo any changes during the year.

4) Whistleblowing Policy procedure On 14 December 2023 the Group’s Board of Directors approved the company Whistleblowing Policy procedure. In this regard, the concept of “whistleblowing” (hereinafter also “Report”) includes any information concerning suspected conduct not in compliance wit h the provisions of the Code of Ethics of Unidata S.p.A. and the 231 Organisational Model adopted by the Company, internal procedures and external rules otherwise applicable to Unidata S.p.A.

Other different types of unlawful conduct may also be reported, even if not falling within the 231 offences.

This may involve a crime, an offence, a threat or damage to the common good, a breach or an attempt to conceal a breach of an international commitm ent duly ratified or approved by Italy, a unilateral act of an international organisation based on such commitment, a breach of European Union law, laws or regulations.

The report may concern events that have occurred or are highly probable. The Whistleblower may have direct or indirect knowledge of the facts.

Reports may be made through internal and external reporting channels in accordance with the conditions laid down by law in Italian Legislative Decree No. 24/2023.

Information on the environment and personnel The Group does not currently identify “direct” risks connected with climate change, while continuing in any case with verification activities aimed at identifying any critical issues and/or opportunities (for example, with reference to the transition to th e use of renewable energy). The Group carries out its activities in full compliance with the provisions on the environment and workplace hygiene. Relations with employees are managed in full compliance with human rights, fundamental rights at work, the principle of equal opportunities and empl oyment and workplace safety legislation. Until 2023 the Company applied the National Collective Labour Agreement (CCNL) for the private Metalworking industry and plant installation and the agreement for Executives of companies in the tertiary sector for th e C.F.O.

position. From 2024 the Company began to adopt the Telecommunications CCNL for its clerical staff.

Since the 2020 financial year, the Group has prepared a sustainability report (NFS) on a voluntary basis.

It is noted that a Unitary Trade Union Representation (RSU) has been in place since 2021. In this regard, several results have been achieved through second -level bargaining, including the Performance Bonus, discussed in the following paragraph, the grantin g of paid leave for medical appointments, the recognition of meal vouchers and the possibility of working remotely, where applicable, once a week.

In general, the following are granted annually to employees, based on the achievement of certain income, productivity and individual performance targets:

• the Performance Bonus, intended for all employees (excluding executives and including agency

workers);

• the MBO (“Management by Objectives”), intended for managers, executives and employees responsible for defining and monitoring objectives;

• the Sales Incentive, intended for employees of the Commercial Function.

As at 31 December 2025, the targets for the recognition of these bonuses had been achieved, and they were paid during 2026.

25 CONSOLIDATED HALF -YEAR REPORT AS AT 30 JUNE 2026

In addition, it is noted that on 25 May 2026 the Group approved a three -year Stock Grant Plan for certain employees for the period 2026 -2028.

Information on the corporate Welfare plan The Group adopts a corporate Welfare plan for employees with two different forms of funding, one deriving from national bargaining and one based on company rules. On the basis of the positive results achieved in the 2025 financial year, employees received the Performance Bonus, paid in July 2026 either directly in their payslip or credited to the BNP Paribas “WellMakers” platform, at the employee’s choice.

The objective achieved by the Company was to introduce a benefits programme that can increase the advantages for employees in order to enhance their individual and family well -being, allowing them to access services that can be customised to their specific needs, increase the protection provided by public welfare services (pensions, health, assistance and children’s education), and obtain an improvement in the purchasing power of overall remuneration, thanks to the tax and social security relief granted by law.

Transparency obligations under Italian Law No. 124/2017 Italian Law No. 124/2017 introduces, in Article 1, paragraphs 125 to 129, measures aimed at ensuring transparency in public disbursements. Companies are required to publish information relating to grants, contributions, paid assignments and in any case eco nomic advantages of any kind received in the previous year in the notes to the financial statements.

Treasury shares

Unidata, in execution of and in accordance with the terms and conditions of the resolution of the Ordinary Shareholders’ Meeting of 20 May 2024, launched a treasury share buy -back programme. In particular, the Shareholders’ Meeting authorised the plan for the purchase and disposal of treasury shares in strict compliance with the applicable EU and national legislation, including Regulation (EU) 596/2014 (the “MAR Regulation”) and Delegated Regulation (EU) 1052/2016 (the “Delegated Regulation”) as well as, where applicable, Italian Legislative Decree 58/98 (the “TUF”) and the Consob regulation adopted by resolution No. 11971 of 14 May 1999 (the “Issuers’ Regulation”), and the accepted market practices, with the purposes of supporting the liquidity of the share , providing the Group with a stock of treasury shares to be used in the context of any future extraordinary transactions, and operating on the market with a medium and long -term investment perspective.

The authorisation to purchase is granted for 18 months from the date of the resolution of the same Shareholders’ Meeting.

The treasury share purchase transactions carried out up to 30 June 2026, in accordance with the resolution of Unidata’s Shareholders’ Meeting, were executed at a price that did not deviate, downwards or upwards, by more than 25% from the official price of Borsa Italiana S.p.A. recorded on the day preceding that on which each individual transaction was carried out.

That said, as at 30 June 2026 the Company had purchased and holds a total of 745,861 treasury shares for a total consideration of Euro 2,897,010, classified in an unavailable reserve, as a direct deduction from the Company’s equity, as required by IAS 32.

Secondary offices

The Company has three secondary offices: one in Rome, Via Cornelia 498, one in Modugno (BA), Via delle Dalie 5, and one in Milan, Viale Edoardo Jenner 33.

26 CONSOLIDATED HALF -YEAR REPORT AS AT 30 JUNE 2026

Business outlook

In light of the performance recorded in the first half of 2026, expectations for the remainder of the year remain consistent with the development and growth objectives set by the Group.

From a commercial standpoint, the expansion of the customer base is expected to continue, with particular reference to the Retail segment. At the same time, the commitment to the development of telecommunications infrastructure will continue, both through Unifiber S.p.A. and Unifiber Puglia S.r.l., held through Unifiber Italy S.p.A., for the construction of fibre optic networks in the grey areas of Lazio and Puglia, and through the initiatives of Unitirreno Holding S.p.A. and Unitirreno Submarine Network S.p.A., dedicated to the development of submarine fibre optic infrastructure in the Tyrrhenian Sea.

A further area of development will be represented by contracts relating to the Public Administration and IoT (Internet of Things) solutions, for which the continuation of activities arising from tenders already awarded is expected, alongside new opportunit ies connected with participation in further competitive procedures. Activities under the Roma 5G project will also continue.

Overall, for the second half of 2026 the Group intends to continue along the path outlined by the 2026 -

2028 Business Plan, approved by the Board of Directors of the Parent Company Unidata S.p.A. on 1 December 2025, progressively strengthening its positioni ng in the segments with the highest technological content and value added. In this context, particular importance will continue to be attached to the development of Cloud, Smart IoT, Data Center and Cybersecurity activities, considered strategic in the pro cess of the Group’s evolution towards a tech company model and in the pursuit of sustainable growth over the medium to long term.

During the second half of the year, in particular, the operations of the newly incorporated company Unicenter S.p.A. will get fully under way; through this company the Group intends to develop the project for the construction, in Rome, of a TIER IV green a nd neutral data centre. The initiative represents an important step in the development and diversification of the Group’s activities, strengthening its positioning in the high -technology digital infrastructure sector. The project also falls within the stra tegic guidelines outlined by the 2026 -2028 Business Plan, which identifies Data Centres as one of the main areas to leverage in order to support future growth and the Group’s progressive evolution towards a tech company model.

Overall, the outlook for the remainder of the year remains oriented towards continuing the path of growth and strategic evolution undertaken by the Group, through the consolidation of traditional activities and, at the same time, the progressive developmen t of businesses with higher technological content and value added. The initiatives under way and the planned investments are therefore aimed at further strengthening the Group’s competitive positioning and laying the foundations for achieving the economic, operational and strategic objectives set for the medium to long term.

Rome, 10 September 2026

Renato Brunetti

Chairman of the Board of Directors

27 CONSOLIDATED HALF -YEAR REPORT AS AT 30 JUNE 2026

28 CONSOLIDATED HALF -YEAR REPORT AS AT 30 JUNE 2026

FINANCIAL STATEMENTS

29 CONSOLIDATED HALF -YEAR REPORT AS AT 30 JUNE 2026

UNIDATA S.P.A.

Viale Alexandre Gustave Eiffel 100 – 00148 ROME Tax Code, VAT Number and Rome Companies Register Number 06187081002 R.E.A. Number RM -956645 Share capital Euro 10,000,000.00 Statement of financial position (amounts in Euro) Amounts in Euro Notes As at 30 June 2026 Of which with related parties As at 31 December 2025 Of which with

related parties

Other intangible assets 5 15,845,598 15,982,164 Goodwill 6 37,525,268 37,525,268 Right -of-use assets 7 10,705,319 3,642,562 11,306,352 3,855,805 Property, plant and equipment 8 62,299,229 62,187,567 Investments 9 14,982,488 14,982,488 12,961,301 12,961,301 Non -current financial assets 10 3,986,214 2,795,978 3,953,081 2,730,244 Derivative financial assets 11 5,642 14,053 Other non -current receivables and assets 12 5,546 5,546 Deferred tax assets 13 1,032,352 1,183,882

TOTAL NON -CURRENT ASSETS 146,387,656 21,421,028 145,119,214 19,547,350

Inventories 14 2,791,196 2,154,518 Contract assets 15 4,905,901 450,000 Trade receivables 16 27,401,370 5,352,906 34,428,836 6,281,971 Tax receivables 17 0 242,376 Current financial assets 18 1,245,326 315,300 Other current receivables and assets 19 8,333,854 218,810 5,919,022 189,930 Cash and cash equivalents 20 12,764,499 25,090,916

TOTAL CURRENT ASSETS 57,442,146 5,571,716 68,600,968 6,471,901

TOTAL ASSETS 203,829,802 26,992,744 213,720,182 26,019,251

Share Capital 10,000,000 10,000,000 Legal Reserve 1,715,463 1,373,044 Extraordinary Reserve 578,432 388,594 IAS 19 TFR Reserve 597,537 660,177 Listing reserve -132,725 -132,725 Treasury share reserve -2,897,010 -3,030,615 Other Reserves 37,519,164 37,311,800 Retained earnings/(losses) 34,000,279 27,840,753 FTA Reserve 5,298,320 5,298,320 Result for the period 2,031,909 6,992,990

TOTAL EQUITY 21 88,711,369 0 86,702,338 0

Employee benefits 22 2,403,246 2,494,025 Derivative financial liabilities 11 485,745 860,661 Non -current financial liabilities 23 50,989,964 1,064,687 55,157,797 1,223,714 Other non -current liabilities 24 8,562,693 9,086,084 Deferred tax liabilities 13 4,428,709 4,690,462

TOTAL NON -CURRENT LIABILITIES 66,870,357 1,064,687 72,289,029 1,223,714

Trade payables 25 29,068,264 6,629,557 35,071,837 11,663,202 Tax payables 26 1,091,810 -

Current financial liabilities 23 6,927,066 316,624 7,937,933 314,122 Other current liabilities 27 11,160,936 11,719,045

TOTAL CURRENT LIABILITIES 48,248,076 6,946,181 54,728,815 11,977,324

TOTAL LIABILITIES AND EQUITY 203,829,802 8,010,868 213,720,182 13,201,037

30 CONSOLIDATED HALF -YEAR REPORT AS AT 30 JUNE 2026

Income statement (amounts in Euro) Amounts in Euro As at 30 June 2026 Of which

with related

parties As at 30 June 2025 Of which

with related

parties

Revenues from customers 28 52,451,822 14,064,297 48,576,747 11,449,092 Other revenues 29 1,180,887 298,113 897,337 77,333

TOTAL REVENUES 53,632,709 49,474,084

Costs of raw materials and consumables 30 2,076,951 2,239,880 Costs for services 31 30,874,811 1,292,786 28,307,010 913,522 Personnel costs 32 6,160,663 5,677,403 Other operating costs 33 1,336,916 965,967 Depreciation and amortisation 34 6,152,845 213,243 5,492,971 153,243 Write -downs of assets and other provisions 35 38,872 57,412

TOTAL OPERATING COSTS 46,641,058 42,740,643

OPERATING RESULT 6,991,651 6,733,441

Financial income 36 190,022 1,990,453 Financial expenses 37 2,010,645 11,476 1,878,796 13,938 Expenses (Income) from securities and equity -accounted investments 38 1,915,333 1,915,333 1,032,759 1,032,759

TOTAL FINANCIAL INCOME AND EXPENSES -3,735,956 -921,102

PROFIT BEFORE TAX 3,255,695 5,812,339

Income taxes 39 1,223,786 1,707,515

RESULT FOR THE PERIOD 2,031,909 4,104,824

Basic and diluted earnings per share 21 0.07 0.14

31 CONSOLIDATED HALF -YEAR REPORT AS AT 30 JUNE 2026

Statement of comprehensive income (amounts in Euro) Amounts in Euro As at 30 June 2026 As at 30 June

2025

Net result 2,031,909 4,104,824

Gain/(loss) on cash flow hedging instruments (“cash flow hedge”) 396,527 -632,843 Tax effect -87,961 150,832 Total gain/(loss) on cash flow hedging instruments (“cash flow hedge”) 308,566 -482,011 Total gains/(losses) that will be reclassified subsequently to profit/(loss) for the period 308,566 -482,011

Actuarial gains/(losses) on defined benefit plans -82,280 366,902 Tax effect 19,641 -87,625 Total actuarial gains/(losses) on defined benefit plans -62,639 279,277 Total gains/(losses) that will not be reclassified subsequently to profit/(loss) for the period -62,639 279,277

Other gains/(losses) of other components net of tax effect 0 0

Total gains/(losses) of other components net of tax effect 245,927 -202,734

Total comprehensive income 2,277,836 3,902,090

32 CONSOLIDATED HALF -YEAR REPORT AS AT 30 JUNE 2026

Cash flow statement (amounts in Euro)

30/06/2026 30/06/2025

A) Cash flows from operating activities Profit (loss) for the period 2,031,909 4,104,824 Income taxes 1,223,786 1,707,515 Interest expense/(Interest income) 1,820,623 -111,657 (Gains) losses on equity -accounted investments 1,915,333 1,032,759 Other (gains) losses 94,346 617,838 Profit (loss) for the year before income taxes, interest, dividends and gains/losses on disposals 7,085,997 7,351,279 Adjustments for non -monetary items Provisions / (Release) of provisions 468,551 482,365 Depreciation and amortisation 6,152,845 5,492,971 Cash flow before changes in net working capital 13,707,393 13,326,615 Changes in net working capital (Increase) Decrease in inventories and rights to recover products from customer returns -5,131,451 -339,583 (Increase) Decrease in trade receivables 7,013,241 4,807,572 Increase (Decrease) in trade payables and liabilities for future refunds to customers -8,228,332 -5,156,922 Other changes in net working capital -2,692,481 -1,140,071 Cash flow after changes in net working capital 4,668,369 11,497,611

Other adjustments

(Income taxes paid) -100,086 -658,132 Increase (Utilisation of provisions) -61,631 -170,462 Increase / (Utilisation of employee benefit liabilities) -526,252 -165,052 Cash flow from operating activities (A) 3,980,401 10,503,965

B) Cash flows from investing activities (Investments)/Disposals of intangible assets -1,780,175 -1,088,054 (Investments)/Disposals of property, plant and equipment -3,746,733 -3,037,780 (Investments)/Disposals of investments -4,499,555 -441,621 Other changes in cash flows from investing activities 32,601 -97,910 Cash flow from investing activities (B) -9,993,862 -4,665,365

C) Cash flows from financing activities Third -party funds Increase (decrease) in short -term bank borrowings -766,168 -565,918 New loans 0 50,000,000 (Repayment of loans) -2,570,000 -32,970,000 Interest received/(paid) -1,317,052 -1,403,592 Increase (Decrease) in lease liabilities -187,078 -295,234 Release of restricted deposits 2,400,000 Changes in short -term securities -1,000,000

Own funds

Dividends paid -301,207 -302,584 Purchase of treasury shares -171,451 -173,034 Cash flow from financing activities (C) -6,312,955 16,689,638

D) Increase (decrease) in cash and cash equivalents (A+B+C) -12,326,416 22,528,238

Cash and cash equivalents at the beginning of the period 25,090,916 4,850,488 Cash and cash equivalents at the end of the period 12,764,499 27,378,726

33 CONSOLIDATED HALF -YEAR REPORT AS AT 30 JUNE 2026 Statement of changes in equity (amounts in Euro) Description Share capital Share

premium

reserve Legal reserve Extraordinary

reserve Available

reserve

Law

145/2018

Art.1 par.

28-34 Cash flow hedge reserve Retained earnings/(losses) IAS 19 TFR

Reserve Stock

Grant

Reserve Contribution

reserve AIM listing reserve F.T.A.

Reserve Treasury

share

reserve Result for the year Equity Balance as at 31 December 2024 10,000,000 29,414,176 848,291 239,454 1,520,779 -929,299 20,263,168 362,548 214,061 0 -132,725 5,298,320 -2,662,233 8,554,061 72,990,601 Allocation of prior year result 524,754 149,140 7,577,584 -8,251,477 0 Dividend distribution -302,584 -302,584 Purchase of treasury shares -173,034 -173,034 Allocation of Stock Grant Plan 141,949 141,949 Transfer of Stock Grant shares -75,191 77,464 2,273 Unifiber Italy contribution 6,849,412 6,849,412 Profit/(Loss) for the period 4,104,824 4,104,824 Other comprehensive income/(losses) -482,011 279,277 -202,734 Other changes in the cash flow hedge reserve 4,988 4,988 Total comprehensive income/(loss) 0 0 524,754 149,140 0 -477,023 7,577,584 279,277 66,758 6,849,412 0 0 -95,570 -4,449,237 10,425,094 Balance as at 30 June 2025 10,000,000 29,414,176 1,373,045 388,594 1,520,779 -1,406,322 27,840,751 641,825 280,819 6,849,412 -132,725 5,298,320 -2,757,803 4,104,824 83,415,697

Balance as at 31 December 2025 10,000,000 29,414,176 1,373,045 388,594 1,520,779 -776,566 27,840,751 660,176 280,819 6,872,591 -132,725 5,298,320 -3,030,615 6,992,990 86,702,337 Allocation of prior year result 342,419 189,839 6,159,526 -6,691,783 0 Dividend distribution -301,207 -301,207 Purchase of treasury shares -171,450 -171,450 Allocation of Stock Grant Plan 62,261 62,261 Transfer of Stock Grant shares -265,928 305,056 39,128 Profit/(Loss) for the period 2,031,909 2,031,909 Other comprehensive income/(losses) 308,566 -62,639 245,927 Other changes in the cash flow hedge reserve 102,465 102,465 Total comprehensive income/(loss) 0 0 342,419 189,839 0 411,031 6,159,526 -62,639 -203,667 0 0 0 133,606 -4,961,081 2,009,033 Balance as at 30 June 2026 10,000,000 29,414,176 1,715,463 578,433 1,520,779 -365,535 34,000,277 597,537 77,152 6,872,591 -132,725 5,298,320 -2,897,009 2,031,909 88,711,369

34 CONSOLIDATED HALF -YEAR REPORT AS AT 30 JUNE 2026

EXPLANATORY NOTE

35 CONSOLIDATED HALF -YEAR REPORT AS AT 30 JUNE 2026

PART A – COMPANY ACTIVITIES, FINANCIAL STATEMENTS AND MEASUREMENT CRITERIA

Note No. 1 – Corporate information Unidata S.p.A. (“Unidata” or the “Company”) is a joint -stock company listed on the Euronext Milan market organised and managed by Borsa Italiana S.p.A., registered and domiciled in Italy. Its registered office is located in Rome, Viale Alexandre Gustave Ei ffel, 100. The Company, together with its subsidiaries, forms the “Unidata Group” or the “Group”.

Note No. 2 – Main accounting policies Basis of preparation The consolidated half -year report as at 30 June 2026 has been prepared in accordance with the provisions of Article 154 -ter of Italian Legislative Decree No. 58 of 24 February 1998, and in compliance with the provisions of IAS 34, which governs interim fin ancial reporting.

The consolidated half -year report as at 30 June 2026 does not include all the information required in the annual financial statements and must be read in conjunction with the consolidated financial statements as at 31 December 2025.

The accounting policies adopted in preparing this consolidated half -year report, with reference to the classification, recognition, measurement and derecognition phases, are unchanged from those adopted in preparing the 2025 Consolidated Financial Statemen ts of the Unidata Group. The explanatory note to the consolidated half -year report has been supplemented with the additional information required by the Italian Civil Code. “IFRS” also means the International Accounting Standards (“IAS”) still in force, as well as all interpretative documents issued by the IFRS Interpretations Committee, previously called the International Financial Reporting Interpretations Committee (“IFRIC”) and, before that, the Standing Interpretations Committee (“SIC”), endorsed by th e European Commission and in force at the reporting date.

The statements adopted by the Company are composed as follows:

- Statement of Financial Position - the statement of financial position is presented by separately disclosing current and non -current assets and current and non -current liabilities, distinguishing for each asset and liability item the amounts expected to be settled or recovered within or beyond 12 months from the reporting date.

- Income statement - presents items by nature, as this is considered to provide the most meaningful information.

- Statement of comprehensive income - includes the items recognised directly in equity where permitted by IFRS.

- Cash flow statement - the cash flow statement presents cash flows from operating, investing and financing activities. Cash flows from operating activities are presented using the indirect method, whereby the result for the year or period is adjusted for th e effects of non -monetary transactions, any deferrals or accruals of past or future operating cash receipts or payments, and items of income or expense associated with cash flows from investing or financing activities.

- Statement of changes in equity - the statement of changes in equity shows the comprehensive income for the year and the effect, for each equity item, of changes in accounting policies and corrections of errors as provided for by International Accounting St andard No. 8. In addition, the

36 CONSOLIDATED HALF -YEAR REPORT AS AT 30 JUNE 2026

statement presents the balance of accumulated profits or losses at the beginning of the year, the movements during the year and the balance at the end of the year.

The consolidated half -year report as at 30 June 2026 has been prepared on a historical cost basis, except for derivative financial instruments and financial assets represented by shares or bonds held in portfolio, which are recognised at fair value. The ca rrying amount of assets and liabilities that are the subject of fair value hedging transactions and that would otherwise be recognised at amortised cost is adjusted to take account of changes in fair value attributable to the hedged risks. The consolidated half-year report as at 30 June 2026, in the absence of uncertainties or doubts regarding the parent company’s ability to continue its operations in the foreseeable future, has been prepared on a going concern basis. On the basis of this principle, the Gro up has been considered capable of continuing to carry on its business and, therefore, assets and liabilities have been accounted for on the assumption that the company will be able to realise its assets and settle its liabilities in the normal course of bu siness.

In compliance with IAS 1 (“ Presentation of Financial Statements ”), comparative information relates to the previous year, unless otherwise indicated.

The consolidated half -year report is presented in Euro and all amounts are rounded to the nearest Euro, unless otherwise indicated.

Consolidation principles (IFRS 10) The consolidation principles used in preparing the consolidated half -year report as at 30 June 2026 are consistent with those used in preparing the consolidated financial statements as at 31 December 2025.

Subsidiaries are those companies over which the Group exercises control. Control exists when the Group has, directly or indirectly, the power to govern the financial and operating policies of a company so as to obtain benefits from its activities. The fina ncial statements of subsidiaries are included in the consolidated financial statements from the date on which control is acquired until the date on which such control ceases. All subsidiaries are included in the scope of consolidation.

Scope of consolidation

Consolidated

company % held Consolidation

method

Unisabina S.r.l. 100% Line -by-line Domitilla S.r.l. 100% Line -by-line Voisoft S.r.l. 100% Line -by-line

Note No. 3 - New accounting standards, interpretations and amendments adopted by the Group

The accounting policies adopted in preparing the consolidated half -year report as at 30 June 2026 are consistent with those used in preparing the consolidated financial statements as at 31 December 2025, except for the adoption of the new standards and ame ndments effective from 1 January 2026. The Group has not early adopted any new standard, interpretation or amendment issued but not yet effective.

Classification and Measurement of Financial Instruments – Amendments to IFRS 9 and IFRS 7

37 CONSOLIDATED HALF -YEAR REPORT AS AT 30 JUNE 2026

In May 2024, the IASB published Amendments to IFRS 9 and IFRS 7, Amendments to the Classification and Measurement of Financial Instruments (the Amendments). The Amendments include:

• clarifications on the requirements for the recognition and derecognition of financial assets and liabilities. In particular, a financial liability is derecognised on the “settlement date”, and an accounting policy choice is introduced (where certain condit ions are met) for the derecognition of financial liabilities settled through an electronic payment system before the settlement date;

• further guidance on how to assess the contractual cash flows of financial assets with environmental, social and governance (ESG) and similar features;

• clarifications on what is meant by “non -recourse features” and what the characteristics of contractually linked instruments are;

• introduction of disclosures for financial instruments with contingent features and additional disclosure requirements for equity instruments classified at fair value through other comprehensive income (OCI).

The amendments had no impact on the Group’s consolidated half -year report.

Annual Improvements to IFRS Accounting Standards – Volume 11 In July 2024, the IASB issued nine narrow -scope amendments as part of its periodic review of IFRS accounting standards. The amendments include clarifications, simplifications, corrections or changes aimed at improving the consistency of IFRS 1 First -time Adoption of International Financial Reporting Standards, IFRS 7 Financial Instruments: Disclosures and its accompanying G uidance on implementing IFRS 7, IFRS 9 Financial Instruments, IFRS 10 Consolidated Financial Statements and IAS 7 Statement of Cash Flows.

The amendments had no impact on the Group’s condensed interim financial statements.

Contracts Referencing Nature -dependent Electricity – Amendments to IFRS 9 and IFRS 7 In December 2024, the IASB published Amendments to IFRS 9 and IFRS 7 - Contracts Referencing Nature -

dependent Electricity. The amendments apply exclusively to contracts referencing electricity from renewable sources and provide for the following:

• clarifications on the application of the “own use exception” requirements to contracts within the

scope;

• changes to the designation requirements for a hedged item in a cash flow hedge relationship for contracts within the scope;

• new disclosure requirements to enable investors to understand the effect of such contracts on an entity’s financial performance and cash flows;

The amendments had no impact on the Group’s consolidated half -year report.

Accounting standards, amendments and interpretations issued but not yet effective The new accounting standards, amendments and interpretations issued by the IASB that will be effective from 1 January 2027 or later are set out below:

• IFRS 18 – Presentation and Disclosure in Financial Statements (effective from 1 January 2027);

• IFRS 19 – Subsidiaries without Public Accountability (effective from 1 January 2027).

In particular, in April 2024 the IASB issued IFRS 18, which replaces IAS 1 Presentation of Financial Statements. IFRS 18 introduces new requirements for the presentation of the income statement, including specific totals and subtotals. Furthermore, entitie s will be required to classify all income and expenses within the income statement into four categories: operating, investing, financing, income taxes and

38 CONSOLIDATED HALF -YEAR REPORT AS AT 30 JUNE 2026

discontinued operations, of which the first three categories are new. The standard also requires disclosure based on the new definition of management -defined performance measures (MPMs), subtotals of income and expenses, and includes new requirements for t he aggregation and disaggregation of financial information based on the identified roles of the primary financial statements (PFS) and the notes. In addition, amendments have been made to IAS 7 Statement of Cash Flows, including a change in the starting point for determining cash flows from operating activities under the indirect method – from profit or loss to operating profit or loss – and the removal of the option for classifying cash flows from dividends and interest. Furthermore, consequential amendmen ts have been made to several other accounting standards.

IFRS 18, and the amendments to the other standards, are effective for annual periods beginning on or after 1 January 2027, but early application is permitted provided it is disclosed. IFRS 18 will ap ply retrospectively. The Group is currently working to identify the impacts that the changes will have on its financial statements and notes.

As at the date of this consolidated half -year report, the Group is assessing any impacts arising from the adoption of the accounting standards, amendments and interpretations described above.

Note 3.1 - Significant judgements and accounting estimates The preparation of the Group’s financial statements requires the directors to make judgements, estimates and assumptions that affect the amounts of revenues, costs, assets and liabilities and the related disclosures, as well as the disclosure of contingent liabilities. Uncertainty about these assumptions and

estimates could

result in outcomes that will require, in the future, a significant adjustment to the carrying amount of such assets and/or liabilities. In applying the accounting policies, the directors have made decisions based on judgements with a significant effect on the amounts recognised in the financial statements.

The Group based its estimates and assumptions on parameters available at the time of preparing the financial statements. However, existing circumstances and assumptions about future events may change due to market changes or events beyond the Group’s contr ol. Such changes, when they occur, are reflected in the assumptions at that time.

As regards the most significant accounting estimates, reference is made to those illustrated in the annual consolidated financial statements as at 31 December 2025.

Note No. 4 - Operating segments: disclosure An operating segment is a component of an entity:

- that engages in business activities from which it may earn revenues and incur expenses (including revenues and expenses relating to transactions with other components of the same

entity);

- whose operating results are regularly reviewed by the entity’s chief operating decision maker (for Unidata, the Board of Directors) to make decisions about resources to be allocated to the segment and assess its performance; and

- for which discrete financial information is available.

It is not considered that the conditions described by IFRS 8 for the identification of Operating Segments other than the entity as a whole are met, given that the Group’s primary business segment is the telecommunications business, the predominant part of the Group’s activity is carried out domestically, and no business units other than the Group as a whole are identified within the Group whose operating

39 CONSOLIDATED HALF -YEAR REPORT AS AT 30 JUNE 2026

results are regularly reviewed by the entity’s chief operating decision maker and for which discrete financial information is available, or whose main financial indicators (revenues, profit or loss, total assets) exceed 10% of the total of the respective c onsolidated amounts.

The information required by IFRS 8 is provided in the paragraphs “Key consolidated figures as at 30 June 2026” and “Revenue analysis” of the Directors’ Report and in the paragraph “Production Costs” of the Explanatory Note.

Finally, it is noted that the Group operates predominantly domestically and that none of the Group’s customers exceeds 10% of consolidated revenues.

40 CONSOLIDATED HALF -YEAR REPORT AS AT 30 JUNE 2026

PART B – INFORMATION ON THE STATEMENT OF FINANCIAL POSITION

ASSETS

Non -current assets

Note No. 5 Other intangible assets The composition of investments in other intangible assets is set out below.

(Amounts in Euro) 30/06/2026 31/12/2025 Change Development costs 490,894 487,917 2,976 Industrial patent rights 21,403 24,750 -3,347 Trademark 5,611,080 5,611,080 0 Customer list 5,409,830 6,032,225 -622,395 Concessions, licences, software and other 4,304,592 3,817,552 487,040 Intangible assets in progress 7,800 8,640 -840 Total 15,845,598 15,982,164 -136,566

The movements in other intangible assets during the half -year compared with 31 December 2025 are shown in the following table.

(Amounts in

Euro) Development

costs Industrial

patent rights Trademark Customer list Concessions,

licences,

software and

other Assets in

progress Total

Historical cost 1,304,920 54,784 5,611,080 9,588,277 13,470,095 8,640 30,037,796

Accumulated

amortisation -817,003 -30,034 0 -3,556,052 -9,652,543 0 -14,055,632

Net value

Other

intangible

assets as at 31/12/2025 487,917 24,750 5,611,080 6,032,225 3,817,552 8,640 15,982,164

Increases 76,726 1,439,406 1,516,132 Reclassifications 840 -840 0 Other changes 0

Total changes

in historical

cost 76,726 0 0 0 1,440,246 -840 1,516,132

Amortisation -73,749 -3,347 -622,395 -953,206 -1,652,697

Reclassifications 0

Other changes 0

41 CONSOLIDATED HALF -YEAR REPORT AS AT 30 JUNE 2026

Total changes

in accumulated

amortisation -73,749 -3,347 0 -622,395 -953,206 0 -1,652,697

Historical cost 1,381,646 54,784 5,611,080 9,588,277 14,910,341 7,800 31,553,928

Accumulated

amortisation -890,752 -33,381 0 -4,178,447 -10,605,748 0 -15,708,329

Net value

Other

intangible

assets as at 30/06/2026 490,894 21,403 5,611,080 5,409,830 4,304,592 7,800 15,845,598

Intangible assets mainly relate to the following intangible items:

• development costs, which relate to the capitalisation of costs incurred for participation in development projects, falling under the NRRP, during the previous year, which will generate future

economic benefits;

• the trademark of Euro 5,611,080 and the customer list of Euro 5,409,830 , which relate to the company merged in 2023 (TWT), allocated through the Purchase Price Allocation (PPA).

• other intangible assets, consisting mainly of purchased user licences and the development of corporate software systems carried out through the subsidiary Voisoft S.r.l., which led to capitalisations of Euro 1,439,406.

Development costs were recognised with the consent of the Board of Statutory Auditors.

Note No. 6 Goodwill Goodwill as at 30 June 2026 amounts to Euro 37,525,268 and is unchanged from the previous year.

Goodwill consists of the difference between the fair value of the consideration transferred and the net amount at the acquisition date of the identifiable assets acquired and identifiable liabilities assumed at fair value from the acquisition of the TWT Gr oup, which took place in the 2023 financial year.

In this regard, from 1 January 2024, following the new organisational structure of the Unidata Group, goodwill has been assessed on the basis of the Unidata CGU, which represents the activity generating cash inflows that are largely independent of the cash inflows from other activities.

In accordance with IAS 36, the Group carries out the impairment test annually at 31 December and whenever circumstances indicate the possibility of a reduction in the recoverable amount of goodwill.

With reference to 30 June 2026, the Group assessed the existence of any external or internal impairment indicators in line with paragraph 12 of IAS 36.

As at the reference date of this consolidated half -year report, on the basis of the analyses carried out, no internal or external indicators of impairment emerged that would require an impairment test to be performed, taking into account:

• the Group’s economic and financial performance in the first six months of the year, in line with

budget expectations;

• the absence of significant negative changes in the macroeconomic and reference market context;

• the stability of expected cash flows, also in light of the 2026 -2028 Business Plan, approved on 1 December 2025, and of the main assumptions (i.e. WACC) used in the impairment test as at 31 December 2025.

Note No. 7 Right -of-use assets

42 CONSOLIDATED HALF -YEAR REPORT AS AT 30 JUNE 2026

The item in question is composed as follows:

(Amounts in Euro) 30/06/2026 31/12/2025 Change IRU rights of use 8,145,872 8,566,080 -420,208 Right -of-use assets – buildings 1,707,357 1,933,700 -226,343 Right -of-use assets – machinery 15,827 37,973 -22,146 Right -of-use assets – vehicles and housing 836,262 768,598 67,664 Total 10,705,319 11,306,352 -601,033

The movements in right -of-use assets during the half -year are shown in the following table:

(Amounts in

Euro) IRU rights of use Right -of-use

assets –

buildings Right -of-use

assets –

machinery Right -of-use

assets –

vehicles and

housing Total

Historical cost 14,637,935 4,775,116 295,279 2,497,552 22,205,883

Accumulated

amortisation -6,071,856 -2,841,416 -257,305 -1,728,954 -10,899,531

Net value

Right -of-use

assets as at 31/12/2025 8,566,080 1,933,700 37,973 768,598 11,306,351

Increases 2,631 235,997 238,628

Reclassifications 0

Other changes 0

Total changes

in historical

cost 2,631 0 0 235,997 238,628

Amortisation -422,838 -226,343 -22,146 -193,749 -865,077

Reclassifications 0

Other changes 25,416 25,416

Total changes

in accumulated

amortisation -422,838 -226,343 -22,146 -168,333 -839,661

Historical cost 14,640,566 4,775,116 295,279 2,733,549 22,444,511

Accumulated

amortisation -6,494,694 -3,067,759 -279,451 -1,897,287 -11,739,192

Net value

Right -of-use

assets as at 30/06/2026 8,145,873 1,707,357 15,827 836,262 10,705,319

43 CONSOLIDATED HALF -YEAR REPORT AS AT 30 JUNE 2026

The investments made by the Group during the half -year are mainly attributable to the signing of new company car lease contracts, net of the cars returned during the year. The car lease contracts were entered into with leading long -term rental companies an d classified as leases under IFRS 16. With reference to the contracts that the Group has considered as leases under IFRS 16, the incremental borrowing rate considered is the rate that the lessee would have to pay to borrow, over a similar term and with sim ilar security, the funds necessary to obtain an asset of a similar value to the right -of-use asset in a similar economic environment. The incremental borrowing rate used for the recognition of right -of-use assets on buildings and cars is approximately 4.7% . The incremental borrowing rate used for the recognition of right -of-use assets on machinery is 1.3%, and corresponds to the rate provided for in the contracts.

Note No. 8 Property, plant and equipment Property, plant and equipment amounts to Euro 62,299,229 as at 30 June 2026 (Euro 62,187,567 as at 31 December 2025), as shown in the following table.

(Amounts in Euro) 30/06/2026 31/12/2025 Change Land and buildings 9,200,658 9,338,499 -137,841 Plant and machinery 50,217,044 49,996,071 220,973 Industrial and commercial equipment 113,924 130,429 -16,505 Other assets 2,674,087 2,553,766 120,321 Assets under construction 93,517 168,803 -75,286 Total 62,299,229 62,187,567 111,662

The movements during the half -year are shown in the following table:

(Amounts in

Euro) Land and buildings Plant and machinery Industrial and

commercial

equipment Other assets Assets under

construction Total

Historical cost 12,513,414 83,748,123 4,104,251 17,036,513 168,803 117,571,103

Accumulated

amortisation -3,174,915 -33,752,052 -3,973,822 -14,482,746 0 -55,383,535

Net value

Property, plant

and equipment

as at

31/12/2025 9,338,499 49,996,071 130,429 2,553,767 168,803 62,187,568

Increases 48,699 3,010,446 6,892 751,388 3,817,425

Reclassifications 0

Other changes -75,286 -75,286

44 CONSOLIDATED HALF -YEAR REPORT AS AT 30 JUNE 2026

Total changes

in historical

cost 48,699 3,010,446 6,892 751,388 -75,286 3,742,139

Amortisation -186,540 -2,789,471 -23,397 -635,663 -3,635,071

Reclassifications 0

Other changes 4,594 4,594

Total changes

in accumulated

amortisation -186,540 -2,789,471 -23,397 -631,069 0 -3,630,477

Historical cost 12,562,113 86,758,568 4,111,143 17,787,901 93,517 121,313,241

Accumulated

amortisation -3,361,455 -36,541,524 -3,997,219 -15,113,814 0 -59,014,011

Net value

Property, plant

and equipment

as at

30/06/2026 9,200,658 50,217,044 113,924 2,674,087 93,517 62,299,229

The item “Land and buildings”, consisting of the property owned by Domitilla, decreased as a result of depreciation for the period.

The item “Plant and machinery”, as shown in the table, increased by Euro 3,010,446 (gross of the depreciation charge of Euro 2,789,471), mainly as a result of the capitalisation of investments in fibre optic network infrastructure arising from the work car ried out by Unidata’s “Systems” suppliers, including the capitalisation of personnel costs and public land occupation taxes (TOSAP) directly attributable to such investments.

The item “Other assets”, amounting to Euro 2,674,087 as at 30 June 2026, increased mainly due to the capitalisation of assets provided to customers on free loan (modems).

During the period, no indicators of possible impairment losses emerged with reference to property, plant and equipment.

Note No. 9 Investments The breakdown of investments in associates, measured under the equity method, is set out below.

(Amounts in Euro) 30/06/2026 31/12/2025 Change Unicenter S.p.A. 4,459,047 0 4,459,047 Unifiber Italy S.p.A. 7,826,192 9,298,515 -1,472,323 Unitirreno Holding S.p.A. 2,697,249 3,662,786 -965,536 Total 14,982,488 12,961,301 2,021,187

The comparison between the value of the investments and the respective equity is also set out below.

45 CONSOLIDATED HALF -YEAR REPORT AS AT 30 JUNE 2026

(Amounts in Euro) Type of

investment Carrying

amount % held Investee equity (IFRS package) Share of equity

(IFRS)

Unifiber Italy S.p.A. Associate 7,826,192 26.00% 38,251,623 7,826,192 Unicenter S.p.A. Associate 4,459,047 25.00% 17,844,180 4,459,047 Unitirreno Holding S.p.A. Associate 2,697,249 33.33% 8,534,963 2,697,249 Total 14,982,488 64,630,766 14,982,488

With reference to Unifiber Italy S.p.A., it is noted that, on 10 April 2025, the shares held by Unidata in Unifiber S.p.A. and Unifiber Puglia S.r.l. were contributed to it. The exchange of shares arising from the contribution and the value of the latter, certified by an appraisal report, had resulted in Unidata holding a 26% interest in Unifiber Italy S.p.A., leading to the recognition of an unavailable contribution reserve in equity of Euro 6,872,591.

The other shareholder of Unifiber Italy S.p.A., with a 74% interest, is the Connecting Europe Broadband Fund (CEBF), in turn held by Cassa Depositi e Prestiti (Italy), Caisse des Dépôts (France), KfW (Germany), the European Investment Bank, the European Co mmission and other private investors.

Pursuant to IAS 28, in measuring the investment in Unifiber Italy the equity method was applied as at 30 June 2026, resulting in a negative change in the value of the investment of Euro 879,265. Against this change, the following were recognised:

• a negative income component, borne by Unidata, of Euro 880,685 (corresponding to the IFRS consolidated result of Unifiber Italy S.p.A. as at 30 June 2026, limited to the 26% interest);

• a net positive change in Unidata’s comprehensive income of Euro 1,420, due to the application in the consolidated financial statements of Unifiber Italy S.p.A. of IAS 19 to the investee’s employee benefit liabilities and to the hedging derivatives held in portfolio by Unifiber S.p.A.

As regards the investment in Unitirreno Holding S.p.A., Unidata recognised an impairment loss arising from the IFRS result for the year of the investee through application of the equity method of Euro 993,695.

It is noted that this loss also includes the I FRS result as at 30 June 2026 of Unitirreno Submarine Network S.p.A., a company in turn wholly owned by Unitirreno Holding S.p.A.

With reference to Unicenter S.p.A. (incorporated on 23 March 2026), it is owned 25% by Unidata S.p.A.

and 75% by Azimut Libera Impresa SGR S.p.A. As at 30 June 2026, the Group had contributed capital of Euro 4,500,000 and recognised a loss for the half -year of Euro 40,923 as a result of the application of the equity method. The loss recorded in the half -year is not considered to be lasting, given that Unicenter S.p.A.

is a start -up company and future positive results are expected, as provided for in the str ategic and economic plan prepared by the company, such as to support the value of the investment.

Note No. 10 Non -current financial assets The composition of Non -current financial assets as at 30 June 2026 is set out below.

(Amounts in Euro) 30/06/2026 31/12/2025

46 CONSOLIDATED HALF -YEAR REPORT AS AT 30 JUNE 2026

Membership fee Consorzio RomaWireless 7,500 7,500 Membership fee Consorzio Voipex 2,950 2,950 Membership fee Fondazione Mondo Digitale 51,646 51,646 Membership fee Consorzio Regioni Digitali 1,500 1,500 Membership fee Fondazione Roma Technopole 60,000 60,000 Membership fee Consorzio GE -DIX 15,000 15,000 Boldyn investment 92,784 92,784 Security deposits 67,965 67,965 Restricted account Intesa SanPaolo S.p.A. 59,000 59,000 Restricted account BNP Paribas 5 10 Financial receivables from Unitirreno Holding S.p.A. 2,795,978 2,730,244 Non -current lease receivables 831,886 864,482 Total 3,986,214 3,953,081

The item “Financial receivables from Unitirreno Holding S.p.A.” includes three non -interest -bearing loans granted by Unidata to Unitirreno Holding S.p.A. for the conduct of its business.

Non -current financial receivables on sub -lease contracts measured as leases under IFRS 16, of Euro 831,886, represent the sum of the principal portions of sub -lease payments due beyond 12 months. It is noted that the value of non -current lease receivables due beyond 5 years amounts to Euro 557,813.

The item Boldyn investment includes the amount contributed to the SPV under the Roma 5G Project, in which Unidata holds 5% of the share capital.

With reference to membership fees representing investments in other companies and consortia, further details on their composition are set out below, showing the accounting data from the latest available

financial statements:

(Amounts in Euro) Share capital Equity Profit (Loss) Carrying amount Latest financial

year

Fondazione Mondo Digitale 2,181,603 2,668,234 62,861 51,646 Via Umbria 7 - Rome Fondazione Roma Technopole 182,000 1,187,241 39,850 60,000 Piazzale Aldo Moro 5 - Rome Consorzio GE -DIX 240,000 219,599 -11,205 15,000 Viale Francia 3 - Genoa Consorzio Regioni Digitali 19,500 41,911 -5,374 1,500 Viale A.G.Eiffel 100 – Rome Consorzio Romawireless in liquidation 41,250 47,192 8,028 7,500 Via S.Martino della Battaglia 31 - Rome Smart City Roma SpA 1,855,680 20,860,979 -1,457,164 92,784 Via del Plebiscito 107 - Rome Consorzio Voipex 36,300 47,470 -868 2,950 Viale A.G.Eiffel 100 – Rome

Total 231,380

Note No. 11 Derivative financial instruments

47 CONSOLIDATED HALF -YEAR REPORT AS AT 30 JUNE 2026

The derivative instruments entered into by Unidata are intended to hedge exposure to the risk of interest rate fluctuations. All derivative financial instruments are measured at fair value, as required by IFRS 9, and periodically adjusted.

Interest rate derivatives are “Over The Counter” (OTC) instruments, i.e. negotiated bilaterally with market counterparties, and their fair value is determined on the basis of valuation techniques that refer to input parameters (such as interest rate curves ) observable on the market (level 2 of the fair value hierarchy under IFRS 7).

With reference to the financial instruments outstanding as at 30 June 2026, the following is noted:

• all financial instruments measured at fair value fall within level 2 (same situation in 2025);

• during 2026 and 2025 there were no transfers from level 1 to level 2 or vice versa;

• during 2026 and 2025 there were no transfers from level 3 to other levels or vice versa.

In order to reduce the risks of adverse changes in interest rates, derivative contracts have been entered into for hedging purposes (IRS, Floor).

The derivative contracts entered into are correlated with the liabilities relating to the loan agreements entered into (reference is made to the specific paragraph under Liabilities). There is a high correlation between the technical/financial characterist ics of the hedged liabilities and those of the hedging contract, and there is also the intention to put the hedge in place. Transactions in derivative financial instruments are accounted for consistently with the underlying transactions in respect of which they are carried out, or at market where applicable. It is noted that, as required by IFRS 9, the Group carried out the hedge effectiveness test as at 30 June 2026, analytically for each derivative, finding the hedges to be perfectly effective.

In this regard, the Group recognised derivative financial instruments in the financial statements by applying the hedge accounting treatment provided for by IFRS 9. In particular, the cumulative effect recognised in equity reserves was positive and amounted to Euro 308,566, net of deferred tax. As reported in the note on Financial expenses and Financial income, during the y ear the Group paid net negative differentials on derivative financial instruments of Euro 184,897.

In general, during the half -year, assets and liabilities for derivative financial instruments showed the

following movements:

(Amounts in Euro) 30/06/2026 31/12/2025 Change Assets for derivative instruments hedging interest rate risk 5,642 14,053 -8,411 Liabilities for derivative instruments hedging interest rate risk -485,745 -860,661 374,916 Net balance of derivative instruments hedging interest rate risk -480,103 -846,608 366,505

Transactions in derivative instruments of the Interest Rate Swap (IRS) and Interest Rate Floor contract types outstanding as at 30 June 2026 have the following characteristics and fair values :

48 CONSOLIDATED HALF -YEAR REPORT AS AT 30 JUNE 2026

Counterparty and contract number Loan Type of derivative Notional value (30/06/26) Financial risk Mark to market Start date Maturity Intesa Sanpaolo contract No. 36863860 OIR1010534135 IRS 210,000 Interest rate risk 838 30/09/2020 30/09/2026 BNP Paribas contracts No. 25939660 and 25939666 GEFI6163629 IRS + FLOOR 300,000 Interest rate risk 4,804 22/07/2021 22/07/2027 Unicredit contract No. MMX_37555393 Pool on a notional amount of Euro 50,000,000 IRS 25,263,296 Interest rate risk -108,797 30/06/2025 30/06/2033 Intesa Sanpaolo contract No. 112708320 Pool on a notional amount of Euro 50,000,000 IRS 13,274,823 Interest rate risk -182,551 30/06/2025 30/06/2033 BNP Paribas contract No. 37810242 Pool on a notional amount of Euro 50,000,000 IRS 11,461,881 Interest rate risk -194,397 30/06/2025 30/06/2033

50,510,000 -480,103

Note No. 12 Other non -current receivables and assets The item in question amounts to Euro 5,546 as at 30 June 2026 and relates to multi -year prepaid expenses.

Note No. 13 – Deferred tax assets and deferred tax liabilities The composition of deferred tax assets and liabilities as at 30 June 2026, compared with the situation as at 31 December 2025, is set out below:

(Amounts in Euro) 30/06/2026 31/12/2025 Change Deferred tax assets 1,032,352 1,183,882 -151,530 Total 1,032,352 1,183,882 -151,530 Deferred tax liabilities -4,428,709 -4,690,462 261,753 Total -4,428,709 -4,690,462 261,753 Total net -3,396,357 -3,506,580 110,223

Deferred tax assets represent the amount of income taxes recoverable in future years in respect of deductible temporary differences.

Deferred tax assets are calculated by applying the tax rates in force in the year in which the temporary differences will reverse, as provided for by the tax legislation in force at the reporting date.

Deferred tax assets are recognised only if there is reasonable certainty of their recovery. As regards deferred tax assets, amounting to Euro 1,032,352 as at 30 June 2026, they are considered to be fully recoverable through future positive results.

The following table shows the composition of deferred tax assets and deferred tax liabilities as at 30 June 2026, highlighting the effect of the change in deferred taxation recognised in the income statement and in equity (i.e. in the statement of comprehe nsive income).

(Amounts in Euro) Statement of financial position Statement of comprehensive income Income statement 30/06/2026 31/12/2025 30/06/2026 30/06/2025 30/06/2026 30/06/2025 IFRS 16 Leases 4,398 -2,423 6,819 9,045

IAS 19 TFR -56,010 -66,468 19,641 -87,625 -9,182 7,537

Listing costs IAS 32 0 0 Derivative Instruments 124,800 245,119 -87,961 150,832 Trademark -1,617,113 -1,617,113 Customer list -1,557,627 -1,738,487 180,861 179,374 Software -113,019 -150,692 37,674 37,673

49 CONSOLIDATED HALF -YEAR REPORT AS AT 30 JUNE 2026

Buildings -902,227 -917,348 15,121 15,121 Allowance for doubtful receivables 62,564 62,564 Directors’ fees 0 4,680 -4,680 Inventory write -down provision 38,488 32,480 6,008

Depreciation and

amortisation 51,116 34,077 17,039 Unisabina fixed assets 627,273 657,480 -30,208 -30,207 IFRS 16 Domitilla -32,357 -32,357 Write -down of investments -26,799 -26,799 Tax losses 156 8,707 -8,550 12,861 Total -3,396,357 -3,506,580 -68,321 63,207 210,901 231,404

Current assets

Note No. 14 Inventories Inventories as at 30 June 2026 are composed as follows:

(Amounts in Euro) 30/06/2026 31/12/2025 Change Gross inventory value - raw materials 2,951,563 2,289,850 661,712 Write -down provision -160,367 -135,332 -25,034 Total Inventories 2,791,196 2,154,518 636,678

In particular, these inventories consist of goods relating to the installation, maintenance and sale of telecommunications systems, and are shown net of an inventory write -down provision of Euro 160,367, determined analytically in order to adjust the cost of inventories to their estimated realisable value on the market.

Note No. 15 Contract assets The item relates to contract work in progress concerning the contract with Consorzio ASI Bari for Euro 450,000 and that relating to the associate Unifiber S.p.A. for Euro 4,455,901 .

(Amounts in Euro) 30/06/2026 31/12/2025 Change Contract work in progress 4,905,901 450,000 4,455,901 Total Contract assets 4,905,901 450,000 4,455,901

Note No. 16 Trade receivables All of the Group’s trade receivables are due within 12 months.

Trade receivables as at 30 June 2026 are composed as follows:

30/06/2026 31/12/2025 Change Gross trade receivables 27,991,043 35,042,654 -

7,051,611

Allowance for doubtful receivables -589,673 -613,818 24,145 Total Receivables net of the Allowance 27,401,370 34,428,836 -

7,027,466

for Doubtful Receivables

50 CONSOLIDATED HALF -YEAR REPORT AS AT 30 JUNE 2026

The decrease compared with the previous year is mainly due to the collection of receivables from a leading telecommunications operator for the sale of IRU rights.

The detailed movements in the allowance for doubtful receivables as at 30 June 2026 are shown in the

following table:

(Amounts in Euro) Allowance for

Doubtful

Receivables

Balance as at 31/12/2025 -613,818 Utilisations for the year 37,952 Provisions for the year -13,808 Balance as at 30/06/2026 -589,674

The allowance for doubtful receivables recognised represents management’s best possible estimate, based on the information available at the date of preparation of the financial statements. Estimates and assumptions are made by the directors with the suppor t of the relevant company function, in accordance with IFRS 9.

Impairment of trade receivables and contract assets is carried out using the simplified approach permitted by the standard. This approach involves estimating the lifetime expected loss on the receivable at initial recognition and in subsequent measurements . For each customer segment, the estimate is mainly made by determining the expected average uncollectibility, based on historical -statistical indicators, adjusted where appropriate using forward -looking elements (levels 1 and 2). For certain categories of receivables characterised by specific risk elements, specific assessments are instead made on individual credit positions (level 3).

It is in any case noted that trade receivable positions for which legal action for recovery has been initiated by the Company have been assessed analytically for the purposes of estimating the allowance for doubtful receivables. See the following table.

IFRS 9 Level (Amounts in Euro) 30/06/2026 31/12/2025 Level 3 2,293,823 2,197,144 Level 2 1,765,082 1,276,259 Level 1 23,932,138 31,569,252 Total gross trade receivables 27,991,043 35,042,654

The position of overdue and not -yet-due receivables is set out below.

(Amounts in Euro) 30/06/2026 31/12/2025 Trade receivables overdue by:

More than 120 days 2,293,823 2,197,144 91 to 120 days 421,001 299,638 61 to 90 days 732,588 321,182 31 to 60 days 611,493 655,438 Up to 30 days 2,837,012 2,896,744 Total overdue receivables 6,895,917 6,370,146

51 CONSOLIDATED HALF -YEAR REPORT AS AT 30 JUNE 2026

Total receivables not yet due 14,900,484 21,520,873 Total trade receivables (for invoices issued) 21,796,401 27,891,019 Receivables for invoices and credit notes to be issued 6,194,642 7,151,635 Total gross trade receivables 27,991,043 35,042,654

As regards receivables overdue by more than 120 days, the Group constantly monitors these credit positions and, net of the amount set aside in the allowance for doubtful receivables, no critical issues regarding collection have been identified.

Note No. 17 Tax receivables Tax receivables, amounting to Euro 0 as at 30 June 2026 (Euro 242,376 as at 31 December 2025), consisted of IRES and IRAP advance payments made in the previous year, which during the half -year were reclassified to offset IRES and IRAP tax payables as at 30 June 2026. See the composition in the following table.

(Amounts in Euro) 30/06/2026 31/12/2025 Change IRES receivables - 158,142 651,363 IRAP receivables - 84,233 204,659 Total 0 242,376 856,022

Note No. 18 Current financial assets Current financial assets amount to Euro 1,245,326 as at 30 June 2026 and are composed as follows.

(Amounts in Euro) 30/06/2026 31/12/2025 Change Current lease receivables 64,836 64,351 485 Financial deposits 32,439 106,313 -73,874 Short -term securities 1,002,265 0 1,002,265 Securities for guarantees 145,785 144,637 1,148 Total 1,245,326 315,300 930,025

Securities for guarantees, amounting to Euro 145,785, relate to units subscribed in the Intesa Sanpaolo liquidity fund, used as collateral for the issue of Unidata’s guarantees in favour of TIM S.p.A.

Short -term securities relate to a financial instrument purchased during the half -year from a leading bank.

This security can be liquidated at any time and represents a short -term investment of the Group.

Lease receivables due within 12 months, of Euro 64,836, consist of the principal portions relating to 3 sub -

lease contracts measured in accordance with IFRS 16.

As regards lease receivables, which represent future principal portions, a summary breakdown by maturity is set out below, also including the future interest portions that will be collected by the Group.

(Amounts in Euro) Principal

portions Future

interest

portions Total future

instalments

Lease receivables within 12 months 64,836 13,113 77,950 Lease receivables beyond 12 months 831,886 74,421 906,307

52 CONSOLIDATED HALF -YEAR REPORT AS AT 30 JUNE 2026

Lease receivables beyond 5 years 557,813 32,015 589,827

Note No. 19 Other current receivables and assets The item in question as at 30 June 2026 is composed as follows.

(Amounts in Euro) 30/06/2026 31/12/2025 Change Prepaid expenses 5,557,184 4,534,215 1,022,969 Sundry receivables 1,174,063 838,404 335,660 VAT receivable 1,508,815 520,404 988,412 Advances to suppliers 85,432 16,356 69,075 Other items to be settled 8,360 9,644 - 1,284 Total 8,333,854 5,919,022 2,414,832

This item mainly includes:

• Prepaid expenses of Euro 5,557,184, mainly consisting of fees charged in advance by suppliers, support fees accruing after the closing date, annual licences and annual insurance premiums;

• VAT receivables of Euro 1,508,815, arising in the current half -year;

• Sundry receivables of Euro 1,174,063, mainly consisting of deferred contract costs of Euro 690,942, relating mainly to the deferral of costs connected with the activation and acquisition of new contracts with customers. Contract costs (mainly technical act ivation costs and commissions to the sales network) are deferred and recognised in the income statement on the basis of the expected duration of the contractual relationship with customers.

Note No. 20 Cash and cash equivalents (Amounts in Euro) 30/06/2026 31/12/2025 Change Bank and postal deposits 12,761,565 25,084,358 -12,322,792 Cash and cash on hand 2,933 6,558 -3,625 Total 12,764,499 25,090,916 -12,326,417

Bank balances are measured at their nominal value and consist of cash held in ordinary current accounts with the various banks with which the Company has relationships.

The amounts shown can be readily converted into cash and are subject to an insignificant risk of changes in value. The Company considers the credit risk associated with cash and cash equivalents to be limited, as these are mainly deposits spread across dom estic banking institutions This item is also subject to the general impairment rule, and the “ loss rate approach ” was used. However, given that these are on -demand accounts, twelve -month expected losses and lifetime expected losses coincide and are not significant.

The decrease during the half -year is mainly due to the investments made in the period, including contributions to the investee Unicenter S.p.A. of Euro 4,500,000.

For further details on the sources and uses that gave rise to the changes in cash and cash equivalents, reference is made to the cash flow statement.

53 CONSOLIDATED HALF -YEAR REPORT AS AT 30 JUNE 2026

LIABILITIES

Note No. 21 Equity As regards the changes in the composition of Equity as at 30 June 2026, reference is made to the Statement of Changes in Equity, which forms an integral part of these financial statements.

That said, the main changes in equity during the year are as follows:

• Unidata’s profit for the previous year, amounting to Euro 6,811,977, was allocated, as resolved by the Ordinary Shareholders’ Meeting:

- to increase the Legal reserve by Euro 340,599;

- to retained earnings for Euro 6,170,172;

- to dividends for Euro 301,207;

• purchase of treasury shares for Euro 305,056, recognised directly in an unavailable reserve, as a deduction from equity, in accordance with IAS 32;

• consolidated profit of Euro 2,031,909.

As regards the other changes in equity, relating mainly to the effects of cash flow hedges on hedging derivatives and the adjustment of the TFR provision in accordance with IAS 19, reference is made to the Statement of Comprehensive Income.

The information required by Article 2427, paragraph 1, number 7 -bis of the Italian Civil Code is set out below, specifying that neither the capital nor the reserves were used to cover losses in the previous three years.

(Amounts in Euro) 30/06/2026 Possible use

Capital 10,000,000

Legal Reserve 1,715,463 B Treasury share reserve -2,897,009 Extraordinary Reserve 578,433 A, B, C Share premium reserve 29,414,176 A, B, C Available reserve Law 145/2018 1,520,779 A, B “Stock Grant” Reserve 77,153 Unifiber Italy contribution reserve 6,872,591 Expected cash flow reserve -365,535 B IAS First Time Adoption (FTA) Reserve 5,298,320 B IAS 19 Employee benefits (TFR) Reserve 597,537 Stock market listing reserve -132,725 Retained earnings (losses) 34,000,277 A, B, C Profit/(loss) for the year 2,031,909 B, C Key to possible uses: A – for capital increase, B – to cover losses, C – for distribution to shareholders

The “share premium reserve” consists of the excess of the issue price of the shares over their nominal value and as at 30 June 2026 amounts to Euro 29,414,176.

54 CONSOLIDATED HALF -YEAR REPORT AS AT 30 JUNE 2026

The “available reserve Law 145/2018” was set up as provided for by Article 1, paragraphs 28 to 34 of Law 145 of 30/12/2018 (the so -called “2019 Budget Law”) through the specific allocation of the profit for the 2018 financial year and amounts to Euro 1,520 ,779.

The “IAS First Time Adoption (FTA) reserve” has a positive value as a consequence of the IFRS adjustments made to the items recognised under the previous accounting standards. The value amounts to Euro 5,298,320 and is the result of adjustments relating to the recognition of expected credit losses and the fair value measurement of the network.

The “IAS Employee benefits (TFR) reserve”, set up pursuant to IAS 19, has a value of Euro 597,537, as a consequence of the discounting of employee severance indemnities (TFR), net of tax effects.

The “stock market listing reserve” has a negative value, fully deducted in previous years, of Euro 132,725 and derives from the application of international accounting standards to the costs of the Company’s capitalisation on the AIM market, previously cap italised.

The “Stock Grant reserve” amounts to Euro 77,153 and represents the cost accrued in relation to the Stock Grant Plan for shares not yet allocated to employees.

The “expected cash flow reserve” includes the offsetting entry for the fair value measurement of hedging derivative financial instruments and amounts, net of tax effects, to Euro - 365,535.

The “Unifiber Italy contribution reserve” comprises the contribution reserve of Euro 6,872,591, generated in the previous year following the contribution of the shares of Unifiber S.p.A. and Unifiber Puglia S.r.l. to Unifiber Italy S.p.A.

Basic and diluted earnings per share as at 30 June 2026, compared with the previous year, are set out below.

30/06/2026 30/06/2025 Change Number of shares (A) - half-year average 30,886,610 30,886,610 -

Net profit for the period (B) 2,031,909 4,104,824 - 2,072,915 Treasury shares (C) - half-year average 755,909 649,619 106,290 Basic and diluted earnings per share

B/(A -C) 0.07 0.14 - 0.07

In accordance with IAS 33, the average number of shares outstanding during the reference period was considered, which best approximates the weighted average number of shares outstanding in the same period. In addition, it is noted that, based on the estima tes as at 30 June 2026 regarding the allocation of shares under the 2026 -2028 Stock Grant Plan, there are no dilutive effects on Earnings per share.

Non -current liabilities Note No. 22 Employee benefits The item includes the total value of severance indemnities accrued by personnel in service as at 30 June 2026, in application of the laws in force and employment contracts, net of advances granted, determined in accordance with Article 2120 of the Italian Civil Code, and of transfers to other Entities as supplementary pension provision. This liability was then adjusted in accordance with IAS 19.

The movements in employee benefits are set out below:

(Amounts in Euro) 30/06/2026 31/12/2025 Change

55 CONSOLIDATED HALF -YEAR REPORT AS AT 30 JUNE 2026

Present value of the obligation at the beginning of the year 2,494,025 2,684,194 -190,168 Service Cost 10,908 469,815 -458,907 Advances and settlements -201,991 -320,753 118,763 Other changes -7,126 - -7,126 Curtailment - 51,616 - 51,616 Financial losses / (gains) 25,593 49,894 -24,301 Actuarial losses / (gains) 133,453 -389,124 419,344 Total Employee benefit liabilities 2,403,246 2,494,025 -90,780

The “Curtailment”, amounting to Euro 51,616, reflects the reduction in the defined benefit obligation following the entry into force of the 2026 Budget Law, which provides, for companies with more than 60 employees, for the transfer of future accrued TFR p ortions to the INPS Treasury Fund or to external pension funds. Therefore, the portion of TFR no longer retained by the company is no longer included in the Company’s IAS 19 obligation.

The technical bases, as required by IAS 19, on which the actuarial considerations were made are briefly

summarised below:

• demographic assumptions: as the basis for assessing survival, the traditional RG48 “Table of permanence in active status” constructed by the Italian State General Accounting Office was used, with reference to the selected 1948 generation, projected and bro ken down by gender, supplemented by the other causes of exit (resignations, advances – which constitute a financial cause of exit, assessable in terms of probability of elimination – and others);

• financial assumptions: these assumptions concern:

• future annual inflation rates, set at the average of the inflation rates recorded in Italy in recent years (source ISTAT);

• future annual revaluation rates of the existing provision and of subsequent contributions, set, as established by the rules in force, at 75% of the inflation rate + 1.50%, net of statutory

taxes;

• future annual discount rates, in compliance with the express indication of IAS 19 (§ 78) to use interest rates correlated with the expected timing of the various payments. At the valuation date, the rates must be set as variable over time, adopting the rat e curve constructed on the basis of the effective yields of Euro -denominated bonds of leading companies with a rating of AA or higher;

• future real salary increase rates necessary to obtain, separately for the various employee categories, the future annual nominal salary increase rates. These values constitute a forecast of the average future salary development over the career of a generic employee, as a function of length of service and in the presence of monetary and contractual stability.

Based on the information provided and taking into account the consistency of the available data, effective rates not differentiated by gender may be co nsidered and, in the absence of a reliable sample, are considered constant over time, according to the various contractual grading levels. Based on the information provided and taking into account the consistency of the available information, it was decide d to consider real rates not differentiated by gender and constant over time, according to the following scheme:

Executives category: real annual rate 2.60% Middle managers category: real annual rate 1.70%

56 CONSOLIDATED HALF -YEAR REPORT AS AT 30 JUNE 2026

Clerical staff category: real annual rate 1.40% It is also noted that, in analysing the liability, the changes in the liability measured under IAS 19 were assessed, in absolute and relative terms, assuming a positive or negative change of 10% in the revaluation and/or discount rates, as shown in the fol lowing table.

Discounting

-10% 100% 10% Inflation -10% 102.97% 5.16% 97.81% -4.83% 92.98% -2.35% 2.97% -2.19% -7.02% -2.04% 100% 105.32% 5.32% 100.00% -4.98% 95.02% 2.43% 7.75% 2.26% -2.87% 2.11% 10% 107.75% 5.49% 102.26% -5.13% 97.13%

Finally, the average duration of the liability is reported; see in particular the following table.

Maturity and duration 1 year 2-3 years 4-5 years Over 5

years Total

Liability value 261,122 449,387 427,034 1,265,703 2,403,246

Note No. 23 Non -current and current financial liabilities The item in question is composed as follows.

30/06/2025 31/12/2025

(Amounts in Euro) Current Non -Current Current Non -

Current

Payables to banks – confirming 0 3,060,728 Payables to banks for factoring 420,789 Payables to banks for loans 3,725,036 44,195,451 930,000 47,214,574 Payables to banks for Bond 1,966,665 4,119,846 2,961,235 5,104,709 Accrued expenses 0 155,834 Lease liabilities 798,953 2,674,667 822,184 2,838,514 Payables to other lenders 15,623 7,952 Total financial liabilities 6,927,066 50,989,964 7,937,933 55,157,797

Payables to banks On 26 June 2025 the Company had renegotiated the loan that had been taken out in 2023 on the occasion of the acquisition of the TWT Group. Thanks to this renegotiation, the Company had obtained a significant improvement in the nominal interest rate and at the same time had obtained greater liquidity, since, against the renegotiated outstanding debt of Euro 32,400,000, the Company had obtained a new loan of Euro 50,000,000.

As regards the financial instruments hedging outstanding loans, reference is made to Note No. 11

Derivative financial instruments .

It is noted that certain loans provide for financial covenants to be calculated annually at 31 December.

All the covenants on the loans of Unidata S.p.A. are currently complied with.

57 CONSOLIDATED HALF -YEAR REPORT AS AT 30 JUNE 2026

The outstanding loans and their main terms are summarised in the following table:

Loan Months Maturity Rate Reference rate Spread Amount

financed

Intesa Sanpaolo No. O1R1010534135 72 30/09/2026 floating 1-month Euribor 1.20% 4,200,000 BNP Paribas No. GEFI6163629 60 22/07/2027 floating 1-month Euribor 0.95% 1,500,000 Elite Intesa Sanpaolo Basket Bond 84 28/07/2029 fixed 3.74% - 10,000,000 Pool (Unicredit, Intesa San Paolo, BNP Paribas, Cassa Depositi Prestiti) 96 30/06/2033 floating 3-month Euribor 1.90% 50,000,000

All the loans granted were provided without collateral or personal guarantees.

The outstanding debt as at 30 June 2026 of each loan is shown in the following table:

Loan (Amounts in Euro) Outstanding debt Within 12 months Beyond 12 months Beyond 5

years

Intesa Sanpaolo No. O1R1010534135 210,000 210,000 BNP Paribas No. GEFI6163629 325,000 300,000 25,000 Pool (Unicredit, Intesa San Paolo, BNP Paribas, Cassa Depositi e Prestiti) 47,385,487 3,215,036 44,170,451 15,128,399 Elite Intesa Sanpaolo Basket Bond 6,086,511 1,966,665 4,119,846 Total 54,006,998 5,691,701 48,315,297 15,128,399

Lease liabilities

Lease liabilities relate to the recognition in the financial statements of the residual financial liability in accordance with IFRS 16.

Payables to other lenders The item relates to payables to credit card networks.

Note No. 24 Other non -current liabilities The item in question is composed as follows:

(Amounts in Euro) 30/06/2026 31/12/2025 Change Deferred income – fibre optic I.R.U. rights 5,790,572 6,247,315 -

456,742

Deferred income – fibre optic network maintenance 16,454 18,480 -2,026 Deferred income – R&D project grants 90,090 168,938 -78,848 Deferred income – IoT project grants 2,592,891 2,592,891 0 FISC (Agents’ Indemnity Fund) 72,686 58,461 14,225 Total 8,562,693 9,086,084 -

523,391

For a better understanding, it is noted that this item consists mainly of the following:

- deferred income for I.R.U. rights arising from the sale of rights of use on fibre optic under multi -year contracts, for Euro 5,790,572;

58 CONSOLIDATED HALF -YEAR REPORT AS AT 30 JUNE 2026

- deferred income for revenues from maintenance services on the fibre optic network granted under rights of use with multi -year contracts, for Euro 16,454;

- deferred income for capital grants received for research and development projects, for Euro 90,090;

- deferred income for plant grants received by the subsidiary Unisabina S.r.l. for the project for the construction and transfer of the water infrastructure under the IoT project, for Euro 2,592,891.

Current liabilities

Note No. 25 Trade payables The item relates to payables to suppliers of a commercial nature, arising from the conduct of core business activities. The exposure as at 30 June 2026 amounts to Euro 29,068,264 and its composition is shown in the following table:

(Amounts in Euro) 30/06/2026 31/12/2025 Change Suppliers for invoices received 24,545,552 21,310,123 3,235,429 Suppliers for invoices to be received 4,522,712 13,761,714 -9,239,002 Total 29,068,264 35,071,837 -6,003,573

The composition of the balance of payables to suppliers largely includes payables to Systems suppliers, i.e. those engaged in the construction of the fibre optic network infrastructure, and is almost entirely towards Italian counterparties.

During the year there were no significant changes in the purchasing and payment policies agreed with suppliers.

The decrease compared with the previous year is mainly due to the payment of certain invoices to the affiliate Unitirreno Submarine Network S.p.A., relating to the purchase of IRU rights at the end of the 2025 financial year.

The item “Trade payables” also includes the payable to a leading bank in respect of the bank advance obtained by certain Systems suppliers of the Company on trade payables relating to the construction of the fibre optic network infrastructure. Since these arrangements do not modify the original terms of the trade payables, as the payment terms with suppliers were not renegotiated in connection with such arrangements, and since the financial relationship involves exclusively the suppliers and the external financial institutions without the involvement of the Company, the payment obligations arising from these arrangements are classified as trade payables, as they retain the same nature and function. As soon as payment to the supplier is made by the financial institution, the Company settles the original invoice by subsequently making payment to the financial institution, in line with the original due date of the invoice.

The following table shows the breakdown of trade payables included in confirming contracts:

Amounts in Euro 30/06/ 2026 Trade payables included in reverse factoring contracts 2,224,759 Of which suppliers have received payment 2,224,759

Note No. 26 Tax payables Tax payables, amounting to Euro 1,091,810 as at 30 June 2026, consist of IRES and IRAP payables as at 30 June 2026, net of the respective advance payments made. See the composition in the following table.

59 CONSOLIDATED HALF -YEAR REPORT AS AT 30 JUNE 2026

(Amounts in Euro) 30/06/2026 31/12/2025 Change IRES payables 808,505 - 808,505 IRAP payables 283,305 - 283,305 Total 1,091,810 0 1,091,810

Note No. 27 Other current liabilities The item in question is composed as follows:

(Amounts in Euro) 30/06/2026 31/12/2025 Change Deferred income – internet contracts 4,976,022 4,945,326 30,696 Payables to personnel (including accrued holidays) 2,087,451 2,212,599 -125,148 Customers – contractual advances 154,960 268,003 -113,043 INPS, IRPEF payables 1,043,924 1,321,501 -277,576 Deferred income – fibre optic I.R.U. rights 913,605 913,725 -120 Security deposits and retention guarantees 615,690 603,974 11,716 Deferred income – R&D project grants 171,629 185,562 -13,933 Deferred income – IoT project grants 181,773 241,863 -60,091 Deferred income – line “wallet” 604,286 770,059 -165,773 Social security payables 234,695 125,776 108,920 Deferred income – network maintenance 4,111 4,171 -60 Sundry payables 172,789 126,485 46,304 Total 11,160,936 11,719,045 -558,109

The item mainly consists of:

• Deferred income on Internet contracts of Euro 4,976,022, relating to fees invoiced in advance for connection services accruing to the following period;

• Payables to personnel of Euro 2,087,451, of which Euro 1,595,841 for holidays accrued and not taken as at 30 June 2026 and Euro 329,778 for the accrual relating to the thirteenth month salary.

Contingent liabilities

There are no contingent liabilities not recognised in the consolidated financial statements as at 30 June 2026, other than those already described in the preceding paragraphs.

PART C – INFORMATION ON THE INCOME STATEMENT

Before proceeding with the analysis of the individual items, it should be recalled that the detailed presentation of the positive and negative income components in the Income Statement and the preceding comments on the items of the statement of financial p osition make it possible to limit the comments set out below to the main items only.

REVENUES

60 CONSOLIDATED HALF -YEAR REPORT AS AT 30 JUNE 2026

Notes No. 28 and 29 Revenues from customers and Other revenues The Group’s revenues as at 30 June 2026 amount to Euro 53,632,709 and relate mainly to the provision of telecommunications services for Euro 38,364,407 and to the construction and sale of telecommunications infrastructure, including delivery and assurance activities, for Euro 14,087,415.

The following table shows the breakdown of revenues.

30/06/2026 30/06/2025 Change Consumer 3,300,554 2,937,036 363,518 Business 13,291,482 11,790,801 1,500,681 of which recurring 11,512,816 11,220,152 292,664 of which project 1,778,666 570,649 1,208,017 Wholesale 2,053,198 849,287 1,203,911 of which recurring 722,221 354,821 367,400 of which project 1,330,977 494,466 836,511 Public Administration 2,346,456 2,711,137 - 364,681 of which recurring 318,690 478,132 - 159,442 of which project 2,027,766 2,233,005 - 205,239 Reseller 15,075,511 15,080,651 - 5,140 Voice trading and voice network 2,297,206 3,163,888 - 866,682 Service revenues 38,364,407 36,532,800 1,831,607 Creation & Delivery 13,732,463 11,343,595 2,388,868 Materials trading 354,952 700,352 - 345,399 Infrastructure revenues 14,087,415 12,043,947 2,043,468 Deferred income 551,729 768,563 - 216,834 Sundry income 629,158 128,774 500,384 Total 53,632,709 49,474,084 4,158,625

As regards the item “Service revenues”, which mainly includes revenues from Internet access services provided via Fibre Optic, XDSL and wireless, there was a substantial increase in production across the main customer categories, thanks to the acquisition of new Internet service contracts entered into with customers.

A table explaining the calculation of average revenue per user (ARPU), broken down by the main customer categories and compared with the figure for the same period of the previous year and with the figure at the end of the previous year, is set out below.

Customer type Number of customers as at 30/06/2026 ARPU as at 30/06/2026 Number of customers as at 31/12/2025 ARPU as at 31/12/2025 Number of customers as at 30/06/2025 ARPU as at

30/06/2025

Consumer 27,322 21 25,798 21 24,101 22 Business 5,307 353 5,224 352 5,216 361

The item “Infrastructure revenues” mainly relates to revenues from the sale of the fibre optic network infrastructure built for Unifiber S.p.A., in addition to other revenues from delivery and assurance activities.

The geographical breakdown of revenues (from customers) as at 31 December 2025 is set out below.

30/06/2026 30/06/2025

Italy Abroad Total Italy Abroad Total Retail 36,064,388 2,300,019 38,364,407 33,341,726 3,191,074 36,532,800 Infrastructure 14,087,415 0 14,087,415 12,043,947 0 12,043,947

TOTAL 50,151,803 2,300,019 52,451,822 45,385,673 3,191,074 48,576,747

61 CONSOLIDATED HALF -YEAR REPORT AS AT 30 JUNE 2026

The item “Other revenues”, amounting to Euro 1,180,887, mainly includes capital grants accruing to the period and the reversal of deferred income relating to pre -2019 I.R.U. projects (“Deferred income”), in addition to sundry income.

PRODUCTION COSTS

Note No. 30 Costs of raw materials and consumables Costs of raw materials and consumables amount to Euro 2,076,951 as at 30 June 2026 and mainly consist of costs for the purchase of networking equipment, data centre peripherals and materials relating to the construction of the fibre optic network infrastru cture.

(Amounts in Euro) 30/06/2026 30/06/2025 Change Costs of raw materials 2,738,663 2,579,464 159,199 Change in inventories -661,712 -339,583 -

322,129

Total Costs of raw materials and consumables 2,076,951 2,239,880 -

162,930

Note No. 31 Costs for services Costs for services, closely related to the conduct of the Group’s activities, are composed as follows:

(Amounts in Euro) 30/06/2026 30/06/2025 Change Work performed by third parties 8,558,555 5,893,158 2,665,397 Retail service costs and licences 16,728,122 17,386,957 -658,836 Consultancy 1,210,205 1,071,192 139,013 Commercial expenses 523,324 469,952 53,372 Electricity and other utilities 334,550 528,755 -194,205 Bank charges 105,776 115,716 -9,940 Support services 463,113 81,779 381,334 Company car costs 178,467 181,246 -2,779 Advertising and sponsorship services 401,976 447,350 -45,374 Insurance 243,790 171,184 72,605 Corporate bodies’ remuneration 270,500 257,500 13,000 Audit fees 22,143 20,000 2,143 Rent payable 340,281 270,336 69,945 Transport costs 128,600 122,743 5,857 Maintenance and repairs 461,365 420,416 40,949 Listing costs 80,879 92,156 -11,277 Cleaning services 56,160 32,792 23,368 Agency staff costs 256,798 214,578 42,220 Postal expenses 98,346 99,459 -1,113 Entertainment expenses 156,223 37,301 118,921 Other costs for services 255,638 392,439 -136,801 Total Costs for services 30,874,811 28,307,010 2,567,801

The increase in costs for services is mainly due to the increase in costs relating to the construction of the fibre optic network infrastructure, as also shown by the corresponding increase in the related revenues.

Note No. 32 Personnel costs As at 30 June 2026, labour costs totalled Euro 6,160,663 and are composed as follows:

62 CONSOLIDATED HALF -YEAR REPORT AS AT 30 JUNE 2026

(Amounts in Euro) 30/06/2026 30/06/2025 Change Wages and salaries 4,223,954 3,894,241 329,712 Social security contributions 1,413,887 1,197,107 216,779 Severance indemnities and pension funds 273,524 316,186 -42,663 Other personnel costs 249,299 269,867 -20,569 Total Personnel costs 6,160,663 5,677,403 483,261

The following table shows the number of employees by contractual category as at 30 June 2026, highlighting the movements during the year:

31/12/2025 Increases Decreases 30/06/2026 Executives 4 0 0 4

Blue -collar

workers 10 0 0 10 Clerical staff 184 9 -3 190 Total 198 9 -3 204

Note No. 33 Other operating costs Other operating costs total Euro 1,336,916; see the related composition in the following table:

(Amounts in Euro) 30/06/2026 30/06/2025 Change Taxes and duties other than income taxes 669,486 655,004 14,483 Subscriptions and membership fees 80,893 17,772 63,120 Losses on receivables 141,590 25,483 116,107 Occupation tax (TOSAP) 321,125 53,633 267,492 Sundry expenses and losses on disposals 123,822 214,076 -90,254 Total Other operating costs 1,336,916 965,967 370,948

The item “Taxes and duties other than income taxes” includes Euro 669,486 of government concession fees paid during the year, in particular to the MISE, the Provincial State Treasury and the Italian Communications Authority.

TOSAP relates to the public land occupation tax paid during the year in connection with the Unifiber project.

Note No. 34 Depreciation and amortisation This item totals Euro 6,152,845 as at 30 June 2026 (Euro 5,492,971 as at 30 June 2025) and consists of amortisation of intangible assets of Euro 1,652,697, depreciation of right -of-use assets of Euro 865,077, and depreciation of property, plant and equipme nt of Euro 3,635,071, calculated on the basis of economic -

technical rates considered representative of the remaining possibility of use and useful life of property, plant and equipment.

Note No. 35 Write -downs

63 CONSOLIDATED HALF -YEAR REPORT AS AT 30 JUNE 2026

The item amounts to Euro 38,872 as at 30 June 2026 (Euro 57,412 as at 30 June 2025) and consists of the provision to the allowance for doubtful trade receivables and to the inventory write -down provision. For further details, reference is made to the statement of the allowance for doubtful receivables and inventory write -down provision set out in the notes t o the statement of financial position.

Note No. 36 Financial income The item amounts to Euro 190,022 as at 30 June 2026 and includes the following items:

(Amounts in Euro) 30/06/2026 30/06/2025 Change Financial income from loan renegotiation 0 1,931,517 -

1,931,517

Interest income on lease contracts 6,865 7,343 -478 Bank interest income 60 0 60 Amortised cost interest income 179,505 46,521 132,984 Revaluation of securities 1,148 1,604 -456 Exchange differences and other financial income 2,444 3,468 -1,024 Total Financial income 190,022 1,990,453 -

1,800,431

With regard to the previous half -year, it is recalled that, with reference to the loan renegotiation that took place in 2025, in line with the requirements of IFRS 9, the Group had assessed the significance of the changes in contractual terms through the s o-called “10% test”, concluding that the renegotiation in question did not qualify as substantial. This had resulted in an adjustment to the amortised cost of the renegotiated loan, through the recognition of financial income, therefore of a non -recurring nature, of Euro 1,931,517.

Note No. 37 Financial expenses The item relating to interest and other financial expenses is composed as follows:

(Amounts in Euro) 30/06/2026 30/06/2025 Change Interest expense on bank current accounts 873 647 226 Interest expense on deferred payments 0 0 0 Interest expense on loans and Bond 1,146,612 1,126,490 20,122 Interest expense on voluntary tax settlement 16 255 -239 Lease interest expense (IFRS 16) 39,695 35,666 4,028 TFR interest expense (IAS 19) 25,593 24,742 851 Amortised cost financial expenses 607,762 687,245 -79,483 Derivative instrument differentials 184,897 -6,586 191,482 Negative exchange adjustments 5,199 10,337 -5,138 Total Financial expenses 2,010,645 1,878,796 131,850

The item “Amortised cost expenses”, amounting to Euro 607,762, includes the effects of amortised cost on loans.

64 CONSOLIDATED HALF -YEAR REPORT AS AT 30 JUNE 2026

Note No. 38 Income and expenses from securities and equity -accounted investments The item in question amounts to Euro 1,915,333 (negative) as at 30 June 2026 and arises from the equity -

method adjustment of investments in associates. In particular, impairment losses on investments were recognised of Euro 880,685 for Unifiber Italy S.p.A ., Euro 993,695 for Unitirreno Holding S.p.A. and Euro 40,953 for Unicenter S.p.A.

Note No. 39 Income taxes (Amounts in Euro) 30/06/2026 30/06/2025 Change

IRES 1,048,852 1,554,793 -505,941

IRAP 385,835 384,126 1,709

Deferred tax assets/liabilities -210,901 -231,404 20,503 Total Income taxes 1,223,786 1,707,515 -483,729

Income taxes are recognised in the financial statements on the basis of a realistic forecast of taxable income, determined in accordance with the tax provisions in force, applying the tax rates in force at the reporting date. The related tax liability is r ecognised in the statement of financial position at nominal value, taking into account any applicable exemptions. Where advance payments made, withholdings and any tax credits exceed the taxes due, the related tax receivable is recognised.

Taxes have been charged to the income statement in accordance with ordinary tax principles on an accruals basis, recognising current taxes as well as deferred tax liabilities and assets whenever there is an actual difference between taxable income and stat utory profit due to the existence of temporary differences.

The explanatory statements for the determination of current IRES and IRAP, as well as the reconciliation statements between the tax charge per the financial statements and the theoretical tax charge, as required by the accounting standards, are set out bel ow:

IRES 30/06/2026 30/06/2025

Unidata profit before tax 3,058,920 5,787,535 Applicable ordinary rate 24.00% 24.00% Theoretical tax charge 734,141 1,389,008

Increases:

Temporary differences

Permanent differences 1,052,034 509,065

Decreases:

Temporary differences

Permanent differences 45,863 46,834 Taxable income 4,065,091 6,249,766 Theoretical rate 24.00% 24.00% Current IRES Unidata 975,622 1,499,945 Current IRES subsidiaries 73,230 54,849 Consolidated IRES 1,048,852 1,554,793 Effective rate (calculated on profit before tax) 32.22% 26.75%

The total amount of IRES was determined by subjecting the profit before tax, appropriately adjusted for the increases and decreases provided for by the tax legislation in force, to the rate of 24.00%. Any changes

65 CONSOLIDATED HALF -YEAR REPORT AS AT 30 JUNE 2026

resulting from amendments to taxes and/or rates will be recognised in the year in which the new provisions come into force and become effectively applicable.

IRAP 30/06/2026 30/06/2025

Difference between value and costs of production 6,776,355 6,707,429 Non -relevant costs 6,131,926 5,673,126 Total 12,908,281 12,380,555 Applicable ordinary rate 4.82% 4.82% Theoretical tax charge 622,179 596,743 Increases 1,588,647 700,682

Decreases

Total changes 1,588,647 700,682 Deductions -6,894,076 -5,400,804 IRAP taxable base 7,602,852 7,680,433 Theoretical rate 4.82% 4.82% Current IRAP Unidata 366,457 370,197 Current IRAP subsidiaries 19,378 13,929 Consolidated IRAP 385,835 384,126 Effective rate (calculated on profit before tax) 11.85% 6.61%

The total amount of IRAP was determined by subjecting the net value of production, appropriately adjusted for the increases and decreases provided for by the tax legislation in force, to the base rate set at national level for each category of private -sect or taxpayers, increased by 0.92 percentage points (Italian Law Decree No. 206/2006 converted with amendments by Law No. 234/2006). The rate applied is therefore 4.82%.

Deferred tax liabilities and assets are recognised in the income statement in order to represent the tax charge for the period, taking into account the tax effects relating to the temporary differences between the profit per the financial statements and ta xable income.

Basic and diluted earnings per share Basic earnings per share are calculated by dividing the result for the period attributable to the Group’s ordinary shareholders by the average number of ordinary shares outstanding during the period (net of treasury shares held).

Diluted earnings per share do not differ from basic earnings per share, as there are no convertible bonds or other financial instruments that would have dilutive effects. In addition, it is noted that, based on the estimates as at 30 June 2026 regarding the allocation of shares under the 2026 -2028 Stock Grant Plan, there are no dilutive effects on Earnings per share. With reference to this Plan, on 25 May 2026 the Board of Directors of Unidata approved the long -term share incentive plan (the “Stock Grant Plan”), addressed to executive directors, key management personnel and key people of the Group.

The Plan is the same for all beneficiaries and differs solely in the number of shares to be allocated to each beneficiary based on the percentage of achievement of each target (annual target, annual ESG target, three -

year target). The Plan has a three -year duration (2026 -2028) and is divided:

• for 75% of the shares to be allocated - into 3 Plan Cycles, each lasting one year, and • for 25% of the shares to be allocated - into 1 Plan Cycle lasting three years.

The number of shares to be allocated was 360,000, valued using the share price of Euro 2.90 (corresponding to the price indicated at the Board of Directors’ meeting of 25 May 2026). Therefore, the

66 CONSOLIDATED HALF -YEAR REPORT AS AT 30 JUNE 2026

total value attributed to the new plan is Euro 1,044,000. In line with the provisions of IFRS 2, as at 30 June 2026 the allocation plan required the recognition of a cost accruing to the half -year of Euro 62,261.

The table of basic and diluted earnings per share is set out below.

30/06/2026 30/06/2025 Change Number of shares (A) - half-year average 30,886,610 30,886,610 -

Net profit for the period (B) 2,031,909 4,104,824 - 2,072,915 Treasury shares (C) - half-year average 755,909 649,619 106,290 Basic and diluted earnings per share

B/(A -C) 0.07 0.14 - 0.07

In accordance with IAS 33, the average number of shares outstanding during the reference period was considered, which best approximates the weighted average number of shares outstanding in the same

period

67 CONSOLIDATED HALF -YEAR REPORT AS AT 30 JUNE 2026

PART D – OTHER INFORMATION

Fair value measurement As regards the financial instruments hedging outstanding loans, reference is made to Note No. 11 Derivative financial instruments .

The categories of financial assets and liabilities under IFRS 7 are set out below.

(amounts in Euro) 30/06/2026 31/12/2025 FVTOCI FVTPL Amortised cost Total FVTOCI FVTPL Amortised

cost Total

Financial assets

Derivative financial

instruments

5,642 5,642

14,053 14,053

Loans to associates

2,795,978

2,730,244

Lease receivables

896,723 896,723

928,833 928,833

Securities

1,148,050

1,148,050

144,637 144,637

Cash and cash equivalents

12,764,499

12,764,499

25,090,916

25,090,916

Other receivables and deposits

159,409 159,409

233,288 233,288

Total financial assets 5,642 1,148,050 16,616,609 17,770,301 14,053 144,637 28,983,281 29,141,970

Financial liabilities

Derivative financial

instruments

485,745 485,745

860,661 860,661

Bank loans

54,006,998 54,006,998

56,366,353 56,366,353

Lease liabilities

3,473,620 3,473,620

3,660,698 3,660,698

Confirming payables

- -

3,060,728 3,060,728

Factoring payables

420,789 420,789 -

Payables to other lenders

15,623 15,623

7,952 7,952

Total financial

liabilities 485,745 0 57,917,030 58,402,775 860,661 0 63,095,731 63,956,392

It is noted that minority investments, amounting to Euro 231,380 as at 30 June 2026 and classified under “Non -current financial assets”, have not been included in the table above as they are measured at cost.

Non -recurring events and transactions pursuant to Consob Communication No. DEM/6064293 of 28 July 2006 As regards non-recurring events and transactions pursuant to Consob Communication No. DEM/6064293 of 28 July 2006, the Group did not incur extraordinary costs relating to extraordinary and non -recurring activities.

Related party transactions As regards related party transactions, reference is made to the specific paragraph in the directors’ report.

For ease of presentation, the table showing the income statement and balance sheet balances with related parties as at 30 June 2026 is set out belo w.

Related party Assets Liabilities Costs Revenues Unifiber SpA 5,098,547 337,914 666,197 13,622,202 Unifiber Puglia Srl 44,961 92,825

68 CONSOLIDATED HALF -YEAR REPORT AS AT 30 JUNE 2026

Unifiber Italy SpA 7,831,275 880,685 2,084 Unitirreno Holding SpA 5,493,227 993,695 Unitirreno Submarine Network

SpA 2,761,924 5,936,024 378,681 456,221

Unicenter SpA 4,460,247 40,953 966 Unihold Srl 1,302,562 1,736,930 472,627 188,113 Total 26,992,744 8,010,868 3,432,838 14,362,410

For further details, reference is made to the specific paragraph of the Directors’ Report.

Supervisory Body Law 231/2001 Unidata’s internal control system is strengthened through the adoption of an Organisation, Management and Control Model pursuant to Italian Legislative Decree 231/2001, approved by the Board of Directors on 30 June 2009 and subsequently supplemented follow ing regulatory developments (most recently by resolution of the Board of Directors of 30 January 2023).

With the adoption of its Organisational Model, understood as a set of general and operational rules, Unidata set itself the objective of establishing a general body of principles of conduct that meets the purposes and requirements of Italian Legislative De cree 231/01, both in terms of preventing offences and administrative breaches and in terms of monitoring its implementation and the possible imposition of sanctions.

The Supervisory and Control Body was renewed by the Board of Directors at its meeting of 30 April 2021, after verifying the integrity and professional requirements appropriate to the role and the absence of grounds for incompatibility and conflicts of inte rest with other company functions and/or positions that could undermine its independence and freedom of action and judgement.

With a view to raising the level of usability of the Organisation, Management and Control Model, further complying with the “adequacy” requirement laid down by the legislator for the benefit of all those who, in different roles, are involved in the Model, the Board of Directors, at the request of the Supervisory Body, at its meeting of 30 January 2023 approved the update of the Model pursuant to Italian Legislative Decree 231/2001.

The Supervisory and Control Body was renewed during 2024. Following this renewal, the body is composed of three members, namely: Sergio Beretta (Chairman), Maria Teresa Colacino and Marco Conti.

Privacy and data protection In compliance with the provisions of European Privacy Regulation No. 679/2016, Article 13 (GDPR), setting out the technical and organisational measures to be adopted for the protection of sensitive data using IT tools, the Company has carried out all the a ctivities necessary to ensure compliance with the rules in force.

Significant events after the end of the period As at the date of preparation of this consolidated half -year report, no significant events occurring after 30 June 2026 have been identified that have an impact on the financial statement balances.

Rome, 10 September 2026

Renato Brunetti

Chairman of the Board of Directors

69 CONSOLIDATED HALF -YEAR REPORT AS AT 30 JUNE 2026

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