TIM: BOARD OF DIRECTORS APPROVES FINANCIAL CALENDAR AMENDMENT AND LAUNCH OF FIRST TRANCHE OF SHARE BUYBACK

TIM’s Board of Directors met today under the chairmanship of Alberta Figari and resolved to partially amend the financial calendar, bringing forward to 29 July the meeting set to approve the financial results as of 30 June 2026. On the same date, the Board of Directors will also approve the 2026-2028 standalone business plan. The conference call will take place the following day at 11:00 a.m.

The Board also resolved to launch, within the share buyback program for up to 700 million shares and up to 400 million euros approved by the Shareholders’ Meeting on 15 April, a first tranche, to be completed by 31 December 2026. The first tranche will cover up to 140 million TIM shares (equal to around 0.7% of the share capital and worth, based on the closing market price on 26 May 2026, approximately 100 million euros); as previously announced, it will be used to service the Company’s remuneration and incentive plans already approved.

The Company confirms that the share buyback program will continue with subsequent tranches, in line with the guidance given to the market and targeting a shareholder remuneration equal to approximately 50% of the expected proceeds from the sale of Sparkle, subject to the relative closing.

For the purposes of executing the program, TIM will appoint an authorized intermediary that will make decisions regarding on the purchases, which will be carried out on the regulated market Euronext Milan and on other multilateral trading facilities authorized under current legislation, in full independence, including in relation to their timing, and in accordance with daily prices and volume limits consistent with both the authorization granted by the Shareholders’ Meeting of 15 April 2026 and with Article 5 of Regulation (EU) No 596/2014 and Article 3 of Delegated Regulation (EU) 2016/1052.

In particular, the purchase price of the shares shall not be more than 10% lower or higher than the official price recorded by TIM’s shares on Euronext Milan in the trading day preceding each individual transaction and, in any case, shall not exceed the higher between the price of last independent trade and the highest current independent purchase bid on the trading venue where the purchase is carried out. Furthermore, the daily purchase volume shall not exceed 25% of the average daily volume of TIM shares traded on the trading venue where the purchase is carried out in the 20 trading days preceding the date of purchase.

The purchase transactions carried out will be disclosed to the market within the terms and in the manner provided by applicable provisions.