Earnings release
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Press Release INTRED S.P.A.: REVENUE AT € 40.9 MILLION IN FIRST NINE MONTHS 2025 REVENUE FROM CORE OPERATIONS UP +7.5% YoY, 96% OF WHICH RECURRING, CONFIRMING THE STRENGTH OF THE BUSINESS MODEL FIBRE NETWORK STRETCHING FOR OVER 14,700 KM 2026 CORPORATE EVENTS CALENDAR APPROVED Brescia, 5 November 2025 – The Board of Directors of Intred S.p.A. (“Intred” or the “Company”), a telecommunications company listed since July 2018 on the Euronext Growth Milan market of Borsa Italiana (symbol: ITD.MI), met today and reviewed the main KPIs at 30 September 2025, unaudited. In first nine months 2025, Intred reported total revenue of over € 40.9 million versus € 40.7 million in first nine months 2024 (+0.5%). Net of non -recurring items related to the School Tenders and Connecting Italia’s share of turnover from low-margin or non-strategic services, core revenue totaled € 34.8 million, up 7.5% YoY. This result confirms the strength of the business model and the ongoing expansion of the customer base. The overall performance was due mainly to two factors: ( i) the gradual reduction of one-off revenue related to the School Tenders, initiated in prior years and now nearing completion; and (ii) the effects of the new management strategy adopted for Connecting Italia, involving the progressive divestment of low -margin or non -strategic services to enhance efficiency and profitability. In the words of Daniele Peli, Co-Founder and CEO of Intred S.p.A. : "The results in the first nine months leave us satisfied and confirm the solidity of the path Intred is pursuing. Core revenue recorded significant growth, supported by the quality of our services and the trust that public and private clients continue to pl ace in us. The fibre network keeps expanding and now extensively covers the entire Lombardy region, reaching every municipality with at least one educational institution. This milestone en ables us to offer increasingly high - performance connections and further strengthen our presence in the region. Recurring revenue now represents the main component of our business and confirms the stability and sustainability of our model, based on propriet ary infrastructure, innovation, and strong local roots. We look forward to the coming months with confidence, continuing to
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••• Page 2 invest in our network and services to support digitization and provide even higher - performing connections”. Growth in core revenue was driven mainly by sales of Ultra Broadband connections, up 8.8%, and Voice and Data services, up 6.9% versus 30 September 2024. Core revenue from services with recurring fees - the company’s core business - accounted for over 95.7% of the total, marking 7.9% growth YoY. Geographically speaking, the strongest growth remained concentrated in the provinces of Brescia, Bergamo, Milan, Como, Cremona, and Monza, confirming the solidity of Intred’s local presence. Commercial expansion continued across all Lombardy provinces, also supported by the School Tenders, which fostered customer base growth particularly within local public administrations and among professionals. The proprietary fibre infrastructure, now capable of reaching every Lombardy municipality with at least one educational institution, ensures extensive regional coverage. The network further expanded from over 13,000 km at the end of first nine months 2024 to more than 14,750 km at 30 September 2025. Analyzing core turnover by customer type, the Public Administration segment recorded the most significant growth, rising 32.3% versus first nine months 2024. The Wholesale and Professional segments also performed well, both up 6.6%, while the Private segment increased 5.5% versus the same period of the prior year. Lastly, the churn rate on sales remained extremely low at 4.3%, indicating strong customer loyalty to Intred. *** Intred's Board of Directors also approved, in accordance with Article 17 of the Euronext Growth Milan Regulation, the dates for the main events in the 2026 Financial Calendar. Any changes will be promptly disclosed to the market in accordance with the laws and regulations applicable from time to time. DATE EVENT 3 February 2026 Meeting of the Board of Directors to approve the 2025 turnover – unaudited 26 March 2026 Meeting of the Board of Directors to approve the draft financial statements at 31.12.2025 28 April 2026 Shareholders' Meeting to approve the financial statements at 31.12.2025
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••• Page 3 5 May 2026 Meeting of the Board of Directors to approve the turnover for first quarter 2026 - unaudited 30 July 2026 Meeting of the Board of Directors to approve the turnover for first half 2026 - unaudited 24 September 2026 Meeting of the Board of Directors to approve the Half-Year Report at 30 June 2026 - subject to limited audit 5 November 2026 Meeting of the Board of Directors to approve the turnover for third quarter 2026 - unaudited The corporate events calendar is also available on the Company website www.intred.it “Investor Relations/Calendario Finanziario” section. *** This press release is online at www.1info.it and on the Issuer's website www.intred.it (Investitori / Comunicati Stampa Price Sensitive section). Intred A leading telecoms player in Lombardy, Intred was founded in 1996 by Daniele Peli, the company’s current Chairman and CEO, and has been listed since 2018 on the EGM (formerly AIM Italia) market of Borsa Italiana (symbol: ITD.MI). With a proprietary fibre network exceeding 14,750 kilometers, Intred offers broadband and ultra- broadband connectivity, fixed wireless access, fixed telephony, cloud services, and related ancillary services to Professional, Public Administration, and Residential customers. Direct i nfrastructure management ensures efficiency, profitability, service quality, and a guaranteed high level of performance. With solid assets and a well - established and highly scalable business model - generating over € 40.9 million in revenue at 30 September 2025 - Intred positions itself as the ideal infrastructure technology partner, delivering a complete portfolio of reliable, high-quality, and secure solutions. www.intred.it Euronext Growth Advisor Investor Relations Advisor Banca Profilo S.p.A. CDR Communication +39 02 584081 Simone Rivera intred@bancaprofilo.it Tel. +39 366 8780742 simone.rivera@cdr-communciation.it Specialist Integrae SIM S.p.A. Vincenza Colucci +39 02 87208720 Tel. +39 335 6909547 info@integraesim.it vincenza.colucci@cdr-communciation.it Investor Relations Intred CFO & Investor Relations Officer Filippo Leone Tel. +39 391 4143050 ir@intred.it Media Relations CDR Communication Carlotta Bianchi Tel. +39 3249042426 carlotta.bianchi@cdr-communication.it