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Poste Italiane - HALF-YEAR FINANCIAL REPORT AT 30 JUNE 2026 | Phynwire

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INTERIM REPORT AT 30 JUNE 2026

PRESENCE, PEOPLE, PROXIMITY,

ALL IN ONE P

INTERIM R EPORT AT 30 JUNE 2026

PRESEN CE, PEOPLE, PROXIMIT Y,

ALL IN O NE P

This document has been translated into English solely for the convenience of the international reader.

In the event of inconsistency between the terms used in the Italian version and the English version, the Italian version shall prevail, as the Italian version constitutes the sole official document.

Interim report on operations at 30 June 2026 4 1∙ General Index 1. Reading guide 8 2. Highlights 10 3. Outlook 12 4. Group Corporate structure, Corporate Governance and organisational structure 14 5. Risk management 78 6. Creation of value 82 7. Other information 123 8. Appendix 129

Condensed consolidated

half-year financial

statements at 30 June 2026 150 2∙ 1. Introduction 154 2. Basis of preparation and significant accounting policies 155 3. Material events during the period and events after 30 June 2026 159 4. Poste Italiane Group - Financial statements at 30 June 2026 164 5. Fair value of financial instruments 207 6. Contingent liabilities and main proceedings pending with the authorities 210 7. Material non-recurring events and/or transactions 214 8. Exceptional and/or unusual transactions 214 9. Additional information 215 10. Attestation of the manager responsible for financial reporting and indipendent auditors’ report 222

INTERIM REPORT

ON OPERATIONS

AT 30 JUNE 2026

1. Reading guide ........................................................................................... 8 2. Highlights ............................................................................................... 10 3. Outlook ................................................................................................... 12 4. Group Corporate structure, Corporate Governance and organisational structure ................................................................... 14 4.1 Poste Italiane’s Corporate Governance 15 4.2 Poste Italiane’s Organisational Structure 16 4.3 Ownership and share performance 18 4.4 Group Corporate structure and principal corporate actions during the period 22 4.5 Omnichannel approach and operating segments 27 5. Risk management .................................................................................. 78Interim report

on operations

at 30 June 2026 1∙

6. Creation of value ........................................................................................................ 82 6.1 Group operating results 82 6.2 Group’s Capital Management Framework 116 6.3 Group financial position and cash flow 117 7. Other information ..................................................................................................... 123 7.1 Significant events after 30 June 2026 123 7.2 Operazioni di maggiore rilevanza 123 7.3 Industrial Relations, Welfare and Corporate University 124 8. Appendix .................................................................................................................. 129 8.1 Reclassified statement of profit and loss and statement of financial position 129 8.2 Alternative performance indicators 138 8.3 Key performance indicators for principal Group Companies 142

1. Reading guide The Interim Report at 30 June 2026 of the Poste Italiane Group – approved by the Board of Directors on 23 July 2026, which authorised its public disclosure, also pursuant to IAS 10 – includes the Interim Report on Operations at 30 June 2026 and the Condensed consolidated half-year financial statements.

The values presented in this Interim Report at 30 June 2026 are compared with the values for the same period of the previous year, except for the Statement of financial position, which is compared with the corresponding statement at 31 December 2025.

In continuity with previous years, a net revenue presentation of the energy business was adopted in order to provide an inter -

pretation consistent with the view used by management, as the Group is not an energy producer. Consequently, some values presented in the following document reflect a management reclassification with respect to the accounting data.

Furthermore, in order to provide the market with a representation of the Group’s results consistent with the strategic guidelines and representations contained in the strategic plan presented in March 2024, this Interim Report on Operations includes an adjusted view1 of the Operating Result (adjusted EBIT) that neutralises the accounting effects of the contribution to the Life Insurance Guarantee Fund (pursuant to Law no. 213 of 30 December 2023 - Budget Law).

It is highlighted that amounts shown in millions of euros have been rounded, with the result that the sum of the rounded figures does not always tally with the rounded total.

1. Please refer to section 8.2 “Alternative Performance Indicators” for the reconciliation of EBIT and adjusted EBIT.The following infographics are used in this document:

toindicate, by means of a hyperlink, that it is possible to return to the beginning of the chapter and the general index.

8INTERIM REPORT AT 30 JUNE 2026

Poste Italiane Group

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2. Highlights

During the first half of 2026, the shared value creation path undertaken by the Poste Italiane Group generated significant results at system level. The main financial and Environmental, Social & Governance (ESG) performances achieved by the Group based on the objectives defined on the 8 pillars of the sustainability strategy integrated in the Strategic Plan are presented below.

• Revenue*: record with €6.8 bn (+5.9% y/y) • Adjusted EBIT: record with €1,772 mln (+6.8% y/y) • Net pro/f_i t: record with €1,355 mln (+15.9% y/y) and €1,211 mln (+3.5% y/y) net of the equity measurement of TIM • Year-end guidance for adjusted EBIT revised upwards in May to €3.4 bn • Historical record for the share: in June 2026, over €29 per share and a market capitalisation of about €38 bn

* The revenue of the energy segment are shown net of costs related to the purchase of raw materials, system charges and the transport of electricity and gas.FINANCIAL PERFORMANCE • Transport and delivery /f_l eet: about 30,000 latest-generation*, lower-emission vehicles, of which about 6,000 electric • Green Corridor: operating the /f_i rst green corridor for parcel delivery using a 100% electric

truck

• Around 2,390 buildings involved in the Smart Building project, and around 210 photovoltaic systems installed in the /f_i rst half of the year, with a total capacity of around 32,700 kWh • Following the agreements with Enilive (ENI Group) and Q8 Poste Italiane con/f_i rms its commitment to use biofuels in its instrumental /f_l eet. In 2025, 10% HVO and 4% SAF were

used

• 1.2 million users (+36.2% y/y) of the energy offer (100% green on electricity and 100% compensated on gas) • Over 23 million eco-friendly payment cards • Over 32,000 PUDO (Pick Up-Drop Off) Network physical points for collection and delivery of shipments alternative to home delivery, of which about 2,300 active locker points • Electric vehicle charging stations: around 9,600 charging stations brought into service, including over 3,700 for the use of customers and citizens

* Latest-generation vehicles refers to Euro 6 vehicles.ENVIRONMENTAL

SOCIAL

Top 5%

•B (Climate) •ISS Corporate ESG Rating (prime list C)•Low Risk

•Best -in-class

World/Europe Indicesand DistributionFinancial ServicesMail, ParcelsInsurance Services 2024 - 2028 "The ConnectingPostepay Services • Client Total Financial Assets: €613 bn (+€12.9 bn vs December 2025) • Positive performance of net in/f_l ows from investment products, at €2.4 bn (+26% y/y) • 179 mln (+12.5% y/y) parcels dispatched in the period, of which 45% delivered by letter carriers (+4 pp y/y) • Solid Solvency II Ratio of the Insurance Group at 303% • Launch of a total voluntary takeover and exchange bid for TIM for a consideration of approximately €10.8 bn • Establishment of the company Logistic 360, in partnership with the Benetton Group, for fashion

logistics

• Poste Italiane renews Cybersecurity agreement with the Ministry of the Interior and the State Police • Poste mondo welfare: the registration phase for the initiative was completed on 7 June with over 55,500 registrations (+11% compared

to 2025)

• Realised 89 new /f_i nancial education, digital inclusion and sustainability initiatives in the /f_i rst half of 2026 • Top 10 in the Diversity Brand Index (DBI) and Diversity Brand Award for accessibility, for inclusive digital solutions • Equal Salary certi/f_i cation con/f_i rmed for equal pay policies for women and men • CAFE – Certi/f_i ed Age Friendly Employer certi/f_i cation obtained, a recognition that highlights the company's commitment to combating age-related prejudices and stereotypes in processes, initiatives and language • Valori ritrovati: a circular economy initiative that gives new life to so-called "anonymous and abandoned parcels": over 103,000 items weighing more than 95,000 kg• The Group Integrated Policy and the Whistleblowing Guideline have been updated • Update of the information security framework (Consolidated Law on Information Security) • 2026-2029 Digital Operational Resilience Strategy approved and Poste Group's Cybersecurity Framework updated to ensure reliability, business continuity and digital

resilience

• Continued extension of the Integrated Anti-Fraud Platform (PIAF) for monitoring and blocking fraud attempts in transactions. The Fraud Management service package designed for companies operating in the /f_i nancial and insurance sector was launched.

• Poste Italiane certi/f_i ed ISO 9001 (Integrated Quality Management System), ISO 14001 (Environment), ISO 45001 (Health and Safety), ISO/IEC 27001 and ISO/IEC 20000-1 (Information Security and IT Service Management) • Maintenance of UNI 11402 (Financial Education) and ISO 20400 (Sustainable Procurement)

certi/f_i cations

• Best in Media Communication (BIC) certi/f_i cation for the seventh consecutive year, thanks to an excellent reputational positioning, positive reviews from journalists and clear and effective

communication

• The implementation of AI in the Group's systems continues with a responsible and "human-

centric" approach

• Extension UNI/ISO 22222 certi/f_i cation for investment-related /f_i nancial planning activities to over 11,000 professionals • Poste Italiane ranks /f_i rst in the Finance category of the 2026 "Identity Corporate Index" (ICI) thanks to its ESG policies and its ability to create value for the country-systemGOVERNANCE •‘AA’ rating•Sustainability Yearbook 2026 Top 5%•B (Climate) •ISS Corporate ESG Rating (prime list C)•Low Risk•Best -in-class World/Europe Indicesand DistributionFinancial ServicesMail, ParcelsInsurance Services

Strategic Plan

Platform"Postepay Services

10INTERIM REPORT AT 30 JUNE 2026

Poste Italiane Group

2. Highlights

truck

used

* Latest-generation vehicles refers to Euro 6 vehicles.ENVIRONMENTAL

SOCIAL

• 12,659 Post Of/f_i ces, about 119 thousand employees (FTE average) and zero post of/f_i ces closed in small municipalities • Polis project underway: 5,825 post of/f_i ces and 175 co-working spaces completed • Processed over 312,000 Public Administration service requests, of which about 240 thousand passports issued • Omnichannel Strategy: 27.3 mln (+3.7% y/y) daily interactions • Smart Working: extended until 31 December 2026 and Top Employer recognition for the 7th consecutive year • Poste Italiane App: single access point for app-based operations to the Poste Group's omnichannel platform, with 4.2 mln active users per day • "Donate now" service to turn the power of digital (app and/or site) into a vehicle for solidarity • >2.7 mln hours of training provided in the period • Fourth edition of "INSIEME Connecting Ideas", with the aim of gathering suggestions to improve and promote initiatives with greater impact, including in terms of sustainability: the process of putting together teams to generate ideas has begun•‘AA’ rating•Sustainability Yearbook 2026 Top 5%•B (Climate) •ISS Corporate ESG Rating (prime list C)•Low Risk•Best -in-class World/Europe Indicesand DistributionFinancial ServicesMail, ParcelsInsurance Services 2024 - 2028 "The ConnectingPostepay Services • Client Total Financial Assets: €613 bn (+€12.9 bn vs December 2025) • Positive performance of net in/f_l ows from investment products, at €2.4 bn (+26% y/y) • 179 mln (+12.5% y/y) parcels dispatched in the period, of which 45% delivered by letter carriers (+4 pp y/y) • Solid Solvency II Ratio of the Insurance Group at 303% • Launch of a total voluntary takeover and exchange bid for TIM for a consideration of approximately €10.8 bn • Establishment of the company Logistic 360, in partnership with the Benetton Group, for fashion

logistics

to 2025)

resilience

certi/f_i cations

• Best in Media Communication (BIC) certi/f_i cation for the seventh consecutive year, thanks to an excellent reputational positioning, positive reviews from journalists and clear and effective

communication

• The implementation of AI in the Group's systems continues with a responsible and "human-

centric" approach

Top 5%

•B (Climate) •ISS Corporate ESG Rating (prime list C)•Low Risk•Best -in-class

World/Europe Indices

and DistributionFinancial ServicesMail, ParcelsInsurance Services

Strategic Plan

Platform"Postepay Services

INTERIM REPORT ON OPERATIONS AT 30 JUNE 2026

2. Highlights

3. Outlook

During the first half of 2026, the global economy was characterised by a high degree of uncertainty, mainly due to the geopo -

litical crisis generated by the attack by the United States and Israel against Iran in February, as well as by structural changes in trade policies that have increased the fragmentation of international markets. Global GDP growth is expected to slow to +2.8% in 20262, mainly due to disruptions to shipments through the Strait of Hormuz and damage to energy infrastructure.

In Italy, weaker growth is expected, with GDP increasing by +0.5% in 2026, +0.4% in 2027 and +0.9% in 20283, constrained by the weakening of domestic demand, rising energy prices and financing costs, and geopolitical uncertainty. The Group has analysed the effects of the increased volatility in financial markets and energy commodity prices and, at present, no significant impacts on the current and prospective equity, financial and economic situation have emerged. The Group will continue to monitor the evolution of this context, evaluating possible prospective effects.

The Group recorded its best first half in terms of revenue, Adjusted EBIT4 and net profit, confirming its ability to generate sustainable value over time. In particular, Adjusted EBIT amounted to €1,772 million (+7% y/y), while consolidated net profit amounted to €1,2115 million (+4% y/y).

All Strategic Business Units contributed to these results. In particular, it should be noted that the Group’s client total financial assets reached €613 billion at the end of June, driven by the growth of investment products and deposits and with net inflows from Postal Savings improving year-on-year. The Group’s leading position in Italy in the parcels segment was also consolidat -

ed, as was growth in the payments segment and in particular in the energy segment, which reached a customer base of 1.2 million users.

In addition to the competitive dividend policy, based on a payout ratio of over 70% and the distribution of dividends received from TIM on a cash-for-cash basis, as communicated to the market in February 2026 on the occasion of the presentation of the preliminary results for the year 2025, it should be noted that Poste Italiane shareholders have benefited from a progressive increase in the share price, resulting in growing overall remuneration, reflected in a Total Shareholder Return (TSR) approxi -

mately 2.5 times higher than that recorded by the main stock exchange index (FTSE MIB). On 17 June 2026, the share reached an all-time high, with a price of over €29, corresponding to a market capitalisation of approximately €38 billion.

Over the course of the second half of the year, the Group will be engaged in implementing an internal reorganisation that involves the creation of a Financial Hub by integrating the payments business with financial services, with the aim of strength -

ening the customer-centric approach, optimising the allocation of capital within the Group and maximising synergies, includ -

ing by simplifying the operational structure. In this regard, on 23 July 2026, PostePay and Poste Italiane approved a partial demerger project of the former in favour of the Parent Company, involving a set of assets and legal relationships, including PostePay EMI RFC. The effectiveness of the transaction is expected from 1 January 2027.

In addition, on 20 July 2026, the acceptance period began for the voluntary total takeover and exchange bid (OPAS) launched by Poste Italiane for TIM, which is expected to be finalised by the third quarter of the year. The OPAS aims to create a single national Group that will represent the largest connected infrastructure platform, with leading positions in financial and insurance services, logistics and digital connectivity services.

The Poste Italiane’s “platform company” business model, which is based on Italy’s most extensive physical and digital network, finds a natural evolution in its integration with TIM, through the convergence of networks, the cloud, edge computing, data and digital identity. The creation of such a Group would generate significant value for shareholders, with revenue and cost synergies estimated at €0.7 billion annually at full run rate.

2. Source: OECD Economic Outlook - June 2026; Volume 2026/1, no. 119.

3. Source: Bank of Italy - Macroeconomic projections for the Italian economy - 12 June 2026.

4. Adjusted EBIT does not include charges for the contribution to the Life Insurance Guarantee Fund, amounting to €38 million in the first half of 2025. With reference to the 2026 financial year, the charge will be recognised on 31.12.2026, in line with the recently issued reference regulations.

5. Consolidated net profit excluding the effects of the equity measurement of the investment in TIM SpA, including the effects of the Purchase Price Allocation (PPA).

12INTERIM REPORT AT 30 JUNE 2026

Poste Italiane Group

Also for 2026, the Poste Italiane Group confirms the centrality of postal savings and the focus on offering products/services that are in step with evolving customer needs. Negotiations are underway with Cassa Depositi e Prestiti (CDP) for the renewal of the CDP-Poste Agreement on the Postal Savings collection service for the years 2027-2030.

Over the next few months, the Group will be engaged in redefining the methods of assessing and presenting the businesses within the new operating segments (segment reporting). The current 4 Strategic Business Units will be replaced by 3 Strategic Business Units represented by a sector dedicated to mail, parcel and logistics services and the distribution network, a financial and insurance services hub and, subject to the completion of the takeover and exchange bid for TIM, an SBU that will combine connectivity and technology, including telecommunications and energy services.

In February, the 2026 guidance for adjusted EBIT and consolidated net profit was communicated to the financial community, expected to exceed €3.3 billion and €2.3 billion, respectively. The positive financial performance recorded in the first three months of the year then led the management to revise upwards, already in May, the guidance for adjusted EBIT to €3.4 billion.

This guidance is confirmed by the results achieved in the second quarter of the year, while, taking into account the Group’s further strategic developments, a new Strategic Plan is expected to be presented in the first quarter of 2027.

During the year, Poste Italiane will continue its deep digital transformation journey, placing Artificial Intelligence (AI) at the centre of its omnichannel platform as the accelerator of the Strategic Plan, applying it to the commercial service model, logistics and in the strengthening and streamlining of operations, always in keeping with the Group’s core values. Thanks also to artificial intelligence (AI), technology and the use of data, which will be enhanced with the presence of TIM, Poste Italiane will deepen its knowledge of its customers’ needs and will be increasingly able to anticipate them. In this way, the Poste Italiane app will increasingly become a hyper-personalised commercial channel, in order to increase digital sales and develop qualified engage -

ment for the Post Office. In addition, through agentic and physical6 AI, Poste Italiane aims to rework its working models and improve business efficiency.

By 2026, the Group will complete “Polis”, a strategic project to support the country’s social cohesion, which involves approxi -

mately 7,000 municipalities with less than 15,000 inhabitants, in which the Post Office will be transformed into a hub of digital services for rapid and easy access to the Public Administration’s services. Some 250 co-working spaces nationwide are also planned, as well as the implementation of numerous initiatives to support the country’s energy transition. Since the start of the project, about 5,825 Post Offices and 175 Spaces for Italy (co-working) have been completed.

6. Agentic Artificial Intelligence is a form of AI capable of autonomously planning and executing actions to achieve specific goals; physical Artificial Intelligence, on the other hand, integrates these capabilities into robots and systems that interact directly with the real world through sensors and actuators.

INTERIM REPORT ON OPERATIONS AT 30 JUNE 2026

3. Outlook

4. Group Corporate structure, Corporate Governance and

organisational structure

IN THIS CHAPTER:

• Poste Italiane’s Corporate Governance • Poste Italiane’s Organisational Structure • Ownership and share performance • Group Corporate structure and principal corporate actions during the period • Omnichannel approach and operating segments4.1 Poste Italiane’s Corporate Governance 1. The Board of Directors was elected by the Ordinary Shareholders' Meeting held on 27 April 2026 to serve for a period of three years, and will remain in of/f_i ce until the Annual Shareholders' Meeting's approval of the /f_i nancial statements for the year ended 31 December 2028. Until 27 April 2026, the BoD was composed as follows:

Chairwoman: Silvia Maria Rovere; Chief Executive Of/f_i cer: Matteo Del Fante; Directors: Carlo d'Asaro Biondo, Valentina Gemignani, Alessandro Marchesini, Paolo Marchioni, Matteo Petrella, Patrizia Rutigliano, Vanda Ternau.

2. The General Manager was appointed by the Board of Directors, upon the proposal of the Chief Executive Of/f_i cer, by resolution of 28 February 2024. The General Manager Giuseppe Lasco participates in Board meetings without voting rights.

3. Committee members were appointed by the Board of Directors' meeting of 6 May 2026.

4. The Board of Statutory Auditors was elected by the Ordinary Shareholders' Meeting of 30 May 2025 to serve for a period of three years and will remain in of/f_i ce until the Shareholders' Meeting's approval of the /f_i nancial statements for the year ended 31 December 2027. BOARD OF STATUTORY AUDITORS4

SUPERVISORY BOARD5

Chairwoman

• Silvia Maria Rovere

Chief Executive

Of/f_i cer

• Matteo Del FanteBOARD OF DIRECTORS1

Directors

• Carlo d'Asaro Biondo • Olga Cuccurullo • Alessandro Marchesini • Salvatore Muscarella • Patrizia Rutigliano • Francesco Scacchi • Vanda Ternau

Chairman

• Antonio Mansi

Standing Auditors

• Laura Gualtieri • Giovanni CaravettaChairman • Carlo Longari

Members

• Paolo Casati6 • Massimo LauroAlternate Auditors • Fulvia Astol/f_i • Giuseppina Manzo • Pierluigi PaceGeneral Manager2 • Giuseppe Lasco 5. The Supervisory Body was renewed by the Board of Directors' at the meeting of 12 November 2025. The term of of/f_i ce was set for three years and will expire on 12 November 2028.

6. The only internal member, Head of Poste Italiane SpA's Internal Auditing.

7. Assigned by the Court of Auditors with effect from 1 January 2024.

8. Company appointed to audit the accounts for the /f_i nancial years 2020 - 2028 by resolution of the Ordinary Shareholders' Meeting of 28 May 2019. Deloitte&Touche has been appointed for the entire Group.Magistrate appointed by the Italian Court of Auditors to audit Poste Italiane • Francesco Targia7

Independent auditors

• Deloitte&Touche SpA8Related and Connected

Parties Committee3

Chairwoman

• Patrizia Rutigliano • Salvatore Muscarella • Francesco Scacchi Appointments and Corporate

Governance Committee3

Chairwoman

• Vanda Ternau• Salvatore Muscarella • Patrizia Rutigliano

Sustainability Committee3

Chairwoman

• Olga Cuccurullo • Patrizia Rutigliano • Vanda TernauRemuneration Committee3

Chairman

• Carlo d’Asaro Biondo

• Alessandro Marchesini • Vanda Ternau Control and Risk

Committee3

Chairman

• Alessandro Marchesini • Carlo d'Asaro Biondo • Francesco Scacchi

14INTERIM REPORT AT 30 JUNE 2026

Poste Italiane Group

4.1 Poste Italiane’s Corporate Governance 1. The Board of Directors was elected by the Ordinary Shareholders' Meeting held on 27 April 2026 to serve for a period of three years, and will remain in of/f_i ce until the Annual Shareholders' Meeting's approval of the /f_i nancial statements for the year ended 31 December 2028. Until 27 April 2026, the BoD was composed as follows:

3. Committee members were appointed by the Board of Directors' meeting of 6 May 2026.

SUPERVISORY BOARD5

Chairwoman

• Silvia Maria Rovere

Chief Executive

Of/f_i cer

• Matteo Del FanteBOARD OF DIRECTORS1

Directors

• Carlo d'Asaro Biondo • Olga Cuccurullo • Alessandro Marchesini • Salvatore Muscarella • Patrizia Rutigliano • Francesco Scacchi • Vanda Ternau

Chairman

• Antonio Mansi

Standing Auditors

• Laura Gualtieri • Giovanni CaravettaChairman • Carlo Longari

Members

6. The only internal member, Head of Poste Italiane SpA's Internal Auditing.

7. Assigned by the Court of Auditors with effect from 1 January 2024.

Independent auditors

• Deloitte&Touche SpA8Related and Connected

Parties Committee3

Chairwoman

• Patrizia Rutigliano • Salvatore Muscarella • Francesco Scacchi Appointments and Corporate

Governance Committee3

Chairwoman

• Vanda Ternau• Salvatore Muscarella • Patrizia Rutigliano

Sustainability Committee3

Chairwoman

• Olga Cuccurullo • Patrizia Rutigliano • Vanda TernauRemuneration Committee3

Chairman

• Carlo d’Asaro Biondo

• Alessandro Marchesini • Vanda Ternau Control and Risk

Committee3

Chairman

• Alessandro Marchesini • Carlo d'Asaro Biondo • Francesco Scacchi 15

INTERIM REPORT ON OPERATIONS AT 30 JUNE 2026

4. Group Corporate structure, Corporate Governance and organisational structure

4.2 Poste Italiane’s Organisational Structure In line with the strategic guidelines set out in the Strategic Plan, the Group’s activities are divided into four Strategic Business Units (also referred to as operating segments in the Poste Italiane Group’s Condensed consolidated half-year financial state -

ments): Mail, Parcels and Distribution; Financial Services; Insurance Services and Postepay Services.

In addition to its mail, parcel and logistics management activities, the SBU also includes those relating to the sales network, Post Of/f_i ces and the Corporate functions of Poste Italiane SpA, which also support the other sectors of

the Group. MAIL, PARCELS AND

DISTRIBUTION

The SBU encompasses payment management and e-money services, also carried out through the LIS point-

of-sale network, as well as mobile and /f_i xed-line telephony services and electricity and gas

marketing.POSTEPAY

SERVICES

The SBU refers to the placement and distribution of /f_i nancial and insurance products and services by BancoPosta, such as current accounts, postal savings products (on behalf of Cassa Depositi e Prestiti), mutual investment funds, loans provided by partner banks and

policies.FINACIAL

SERVICES

The SBU operates in the Investment, Pension and Protection businesses through the exercise of life and P&C

insurance activities.INSURANCE

SERVICESSTRATEGIC BUSINESS UNITS

16INTERIM REPORT AT 30 JUNE 2026

Poste Italiane Group

Below is Poste Italiane’s organisational structure:

Strategic Holdings

Management

Internal Audit

Human Resources

and OrganisationCEO

executive

assistanceCHAIRWOMAN

CHIEF EXECUTIVE OFFICERBoard

of Directors

1. BancoPosta's Internal Audit function reports directly to the Board of Directors and the Board of Statutory Auditors.

2. Reports to the Chief Executive Of/f_i cer in respect of the payment and e-money business areas.GENERAL MANAGER Chief of Staff GM

Legal

AffairsGroup Risk

and

ComplianceGroup

Sustainable

DevelopmentChief Financial

Of/f_i ce

Purchasing Real

estateCommunication

Security

and SafetyGroup

Anti-money

LaunderingInstitutional

RelationsPhilately Regulatory

Affairs and

AntitrustCompany

Affairs

BancoPosta1Poste Vita

Mail, logistics and

communication

servicesDigital,

Technology

& Operations

Post Of/f_i ce

NetworkThird-party

NetworksBusiness

and Public

Administration

salesPostePay2

Corporate

Distribution channels

Business areas

Group companiesLegend

INTERIM REPORT ON OPERATIONS AT 30 JUNE 2026

4. Group Corporate structure, Corporate Governance and organisational structure

The organisation of Poste Italiane SpA envisages business functions7 specialising in the main areas of offer that cover the Group’s 4 business sectors and two commercial channels responsible for sales of products/services - supported by a function dedicated to the commercial development of third-party networks - and corporate functions for direction, governance, control, and provision of services to support business processes . The objective of transforming the Group into a Platform Company and the inherent customer focus is pursued with the help of the Digital, Technology & Operations function.

During the first quarter of 2026, various organisational measures were implemented in the Mail, Communication and Logistics, Philately , and Administration, Finance and Control functions , as well as the establishment of regional offic -

es within the Third-Party Networks Market and the Relations with the Ministry of Economy and Finance function within Institutional Relations .

In May 2026, the Group Strategic Marketing function was placed within Digital, Technology & Operations and the Strategic Investments Management function was established, reporting directly to the Board of Directors. The newly established function is responsible for overseeing, directing and enhancing the Group’s shareholdings, ensuring their consistency with the Strategic Plan and sustainability objectives.

7. These are the Mail, Communication and Logistics functions for the offer of mail, parcels and commercial communication services and BancoPosta as placement intermediary for the financial and insurance offer. The other two business areas are covered by PostePay for the payments, telephony and energy sales services offering and by Poste Vita Group for the insurance range.4.3 Ownership and share performance 4.3.1 Poste Italiane’s ownership at 30 June 2026

35.00%0.97%

66.3%33.7%34.77%29.26%

Treasury shares

Cassa Depositi

e PrestitiMinistry of the Economy

and Finance

Float

Institutional

InvestorsIndividual

Investors

18INTERIM REPORT AT 30 JUNE 2026

Poste Italiane Group

Poste Italiane has issued shares listed on the Mercato Telematico Azionario (Electronic Stock Exchange - MTA) organised and managed by Borsa Italiana SpA as of 27 October 2015. At 30 June 2026, the Company is 29.26% owned by the Ministry of the Economy and Finance (MEF) and 35% owned by Cassa Depositi e Prestiti SpA (CDP), also controlled by the MEF. The remaining shares are held by institutional and retail investors. A total of 36.4%8 of the shares held by institutional investors of Poste Italiane SpA belong to investors who follow ESG (Environment, Social, Governance) criteria in their investment choices.

The share capital of Poste Italiane SpA consists of 1,306,110,000 ordinary shares, of which 1,293,389,700 are outstanding at 30 June 2026 and 12,720,300 treasury shares.

The ordinary shareholders’ meeting of Poste Italiane SpA of 30 May 2025 authorised the Board of Directors to purchase and subsequently sell its treasury shares - to service the Incentive Plans based on financial instruments - for a maximum of 2.6 million Company shares, representing roughly 0.20% of the share capital, with a maximum expenditure of up to €50 million.

Purchase of the treasury shares will be permitted for eighteen months from the date of the shareholder resolution granting the authority.

In execution of the authorisation to purchase treasury shares of the aforementioned shareholders’ resolution, in the period between 31 March 2026 and on 2 April 2026, Poste Italiane SpA purchased 1,773,263 treasury shares at the average unit price of €20.531573, for a total consideration of €36,407,878.70. During the second tranche of the aforementioned pro -

gramme, in the period between 8 and 13 May 2026, a total of 570,234 treasury shares (equal to 0.044% of the share capital) were purchased at an average price of €23.836025 per share, for a countervalue of €13,592,111.71. At the closing of the sec -

ond and last tranche of the programme, Poste Italiane held 12,720,300 treasury shares (equal to 0.974% of the share capital).

Furthermore, the ordinary shareholders’ meeting of 18 June 2026 – after revoking the aforementioned resolution of 30 May 2025 for the part not yet implemented – authorised the Board of Directors to purchase and subsequently dispose of treasury shares for a maximum of 5 million company shares, representing approximately 0.383% of the share capital, for a total dis -

bursement of up to €125 million. Purchase of the treasury shares will be permitted for eighteen months from the date of the shareholder resolution granting the authority. The Meeting also defined, as proposed by the Board of Directors, the following purposes: (i) the allocation of treasury shares to service the Incentive Plans, as well as (ii) hedging transactions against the exposure arising from movements in the Poste Italiane’s share with regard to the payment obligations arising from the Phantom Stock Option9 (2026-2028) LTI long-term variable remuneration plan.

At its meeting of 7 July 2026, the Poste Italiane’s Board of Directors exercised the delegation conferred by the Shareholders’ Meeting of 18 June 2026, resolving on a paid-up share capital increase, including in several tranches, to be subscribed by 31 December 2026, for a maximum total nominal amount of €371,986,879, plus share premium, by issuing a maximum number of 371,986,879 ordinary shares, to be paid up by contribution in kind, to service the takeover and exchange bid on TIM shares.

For further details, please refer to the paragraph “Group Corporate structure and principal corporate actions during the period” later in this Report.

8. Source: Nasdaq Corporate Solutions.

9. The Plan consists of the assignment of Phantom Stock Options that grant the beneficiary the right to purchase a virtual share for each option vested at a unit price equal to the strike price and, consequently, to receive a cash bonus, if applicable, under the terms and conditions set out in the Regulation and in the related implementing documentation. For more details, please refer to the Information Document pursuant to Art. 84 -bis of the Issuers’ Regulation (CONSOB Regulation adopted by Resolution no. 11971 of 14 May 1999), published on the Company’s website (Three-year Phantom Stock Options long-term incentive plan based on financial instruments).

INTERIM REPORT ON OPERATIONS AT 30 JUNE 2026

4. Group Corporate structure, Corporate Governance and organisational structure

4.3.2 Share performance The value of the Poste Italiane’s share in the first half of 2026 recorded an increase of 32.44%, going from €21.610 at the beginning of the year to €28.620 at the end of June 2026. Over the same period, the FTSEMIB increased by 13.90%.

In the first half of 2026, the Poste Italiane’s share recorded a new all-time high on 17 June 2026 reaching €29.230 (the previous one had occurred on 09 February 2026 at €23.420).

From the date of listing on the stock exchange (27 October 2015) to 30 June 2026, the Poste share price increased by 327.16% (the FTSE MIB index increased by 131.04% in the same period), guaranteeing an overall Total Shareholder Return (TSR) of 698% while the main Italian stock exchange index recorded an increase of 251%.

The TSR of Poste Italiane’s share compared to the FTSE MIB median shows a performance of +198.6% over the three-year period 2024-2026 (at 30 June 2026).

The graph below shows the comparison between Poste Italiane’s share price and the FTSE MIB INDEX from the date of the company’s listing (27 October 2015) to the reporting date.

+698%

TSR performance

since the listing date (more than 2.5 times that of the FTSE MIB)

Historical

Record

17/06/2026

€29.230

Internal calculations on Bloomberg data at 30 June 2026 (Basis 27 October 2015: Poste Italiane €6.75; FTSEMIB 22,369.92) Poste Italiane SpA FTSE MIB INDEX

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20INTERIM REPORT AT 30 JUNE 2026

Poste Italiane Group

The table below shows the main information on the stock and on the Company’s dividend policy as well as the relative perfor -

mance recorded during the period compared to previous periods.

POSTE ITALIANE (PST-IT0003796171) 1H 2026 FY 2025 1H 2025 FY 2024

Closing price at the end of the period (€) 28.620 21.480 18.240 13.620 Minimum price of the period (€)19.780 13.655 13.655 9.792 26/03/2026 03/01/2025 03/01/2025 09/02/2024 Maximum price of the period (€)29.230 21.560 19.125 13.870 17/06/2026 22/12/2025 02/06/2025 16/12/2024 Average price of the period (€) 23.358 18.261 16.495 12.060 Stock exchange capitalisation at the end of the period (€m) 37,381 28,055 23,823 17,789 TSR of the period (%) 36.48 67.64 39.60 42.26 Earnings per share* (€) 1.04 1.71 0.89 1.54 Source: Bloomberg.

* Calculated as the ratio of net profit attributable to the Group for the period to the average number of shares outstanding during the period.

INTERIM REPORT ON OPERATIONS AT 30 JUNE 2026

4. Group Corporate structure, Corporate Governance and organisational structure

4.4 Group Corporate structure and principal corporate actions during the period At 30 June 2026, the Group holds, directly and indirectly, investments in 54 companies and consortia, of which 40 are consol -

idated on a line-by-line basis, one is a subsidiary and valued using the equity method, 8 are associates and valued using the equity method, one is subject to joint control valued using the equity method, and 4 represent minority stakes. In addition, Poste Italiane consolidated on a line-by-line basis 5 multi-asset funds and one Real Estate Alternative Investment Fund.

sennder Italia SrlTIM SpA13Consorzio Logistica

Pacchi ScpA1

Casina Poste

SSD arl12

Italia Camp SrlPostel SpAPoste Air Cargo Srl 15%

PatentiViaPoste

ScpA in liquidation5%

Consorzio

PosteMotori

in liquidation17.21%

22.63% Indabox Srl

Bridge

Technologies Srl14

Patrimonio Italia Logistica SICAF SpA in gestione esternaMLK Fresh SrlSengi Express

Guangzhou Limited

Sengi Express

Italia Srl

Locker Italia SpA 50%

25%75%100%

100%Poste Italiane

51%

Poste Welfare

Servizi Srl70%Agile Lab Srl

Plurima SpA11

Sourcesense SpA9Nexive Scarl 93.24%Kipoint SpASDA Express

Courier SpA100%

13.5%100%

5%5.5%

51%

100%

19.40%100%100%

69.65%

58.12%

70% 100% 70%Poste Logistics SpA Logistics 360 Srl100% Nexive Network Srl 100% SPV

Cosenza SpA

Postego SpA98.10%

100%1.90%

sennder

Technologies GmbH211.52%100%

100%

96.69%

20.10%Sengi Express

Limited351%

Europa Gestioni

Immobiliari SpA

Replica SIM SpANet Insurance SpA10

100%100%45%

MFM Holding Ltd645%

14.98%100%

Poste Insurance

Broker SrlPoste Assicura SpA

100%100%Poste Italiane

ConsorzioServizi ScpA

N&TS Group Networks

& Transactional

System Group SpA

Conio Inc.549%

20%

16.19%

Volante Technologies

Holdco Inc.43.05%LIS Pay SpA 100%55% 1. The remaining 5% of Consorzio Logistica Pacchi S.c.p.A. is held by Poste Assicura SpA.

2. The investment in sennder Technologies GmbH fully diluted is equal to 10.21%.

3. The investment in Sengi Express Limited is equal to 51% of the shares with voting rights (40% of equity rights).

4. The investment in Volante Technologies Inc fully diluted is equal to 2.02%.

5. The investment in Conio Inc. fully diluted is equal to 15.26%.

6. The investment in MFM Holding Ltd is equal to 14.98% of the shares with voting rights (15.84% of equity rights).

7. The investment in ECRA is equal to a total of 40% of the share capital (24.5% of voting rights distributed in equal parts between the shareholders).

8. The investment in Scalapay Limited fully diluted is equal to 2.15%.

9. Sourcesense SpA wholly owns Sourcesense Digital Srl, Sourcesense Technology Srl, Sourcesense Limited (UK) and Sourcesense Platforms Srl and holds 33.3% in Consorzio Italia Cloud.

10. Net Insurance SpA wholly owns Net Insurance Life SpA and holds a 19.99% investment in IBL Assicura Srl.

11. Plurima SpA wholly owns Logos Srl.

12. Casina Poste Società Sportiva Dilettantistica a Responsabilità Limitata is wholly owned through Poste Italiane SpA 72%, PostePay SpA 7%, Postel SpA 7%, Poste Vita SpA 7%, SDA Express Courier SpA 7%.

13. On 22 March 2026, Poste Italiane SpA launched a voluntary total takeover and exchange bid for the ordinary shares of TIM SpA.

14. On 1 July 2026, the merger of Bridge Technologies Srl into Poste Italiane SpA became effective.Scalapay Limited82.30%58.70% Eurizon Capital Real Asset SGR SpA7 20%Poste Vita SpA 20%LIS Holding SpA 100%51%PostePay SpA

BancoPosta

Fondi SpA SGRConsolidated on a line-by-line basis Subsidiary accounted for at equity Associate accounted for at equity

Minority stakes

Joint ventures accounted for at equityKey to equity investments Key to Business Units Mail, Parcels and Distribution Financial and Insurance services

Postepay Services

22INTERIM REPORT AT 30 JUNE 2026

Poste Italiane Group

At 30 June 2026, the Group holds, directly and indirectly, investments in 54 companies and consortia, of which 40 are consol -