Material events during the period and events after 31 march 2026. Principal corporate actions
Telecom Italia S.p.A. (TIM)
On 22 March 2026, the Board of Directors of Poste Italiane approved the launch of a voluntary total takeover and exchange bid ("OPAS") for 17,063,618,293 TIM ordinary shares, representing the total number of ordinary shares, including the newly issued ordinary shares to facilitate the 1:1 conversion of savings shares and the treasury shares held by TIM, net of the shares held by Poste Italiane following the conversion of the savings shares (the "Transaction").
The consideration to be paid by Poste Italiane to TIM shareholders who accept the Bid will consist of (i) a cash component of €0.167 for each TIM share accepted under the OPAS, and (ii) a share component of 0.0218 newly issued Poste Italiane ordinary shares for each TIM share accepted under the OPAS.
The total consideration for the Transaction (the sum of the cash component and the share component), amounting to €10.8 billion based on the official price of Poste shares as at 20 March 2026, represents a valuation of €0.635 per TIM share and, therefore, includes a premium of 9.01% over the official price of TIM shares as at 20 March 2026.
The Transaction, subject to obtaining the necessary regulatory approvals, is expected to be completed by the end of 2026.
Purchase of treasury shares
In execution of the authorisation to purchase treasury shares resolved by the Poste Italiane S.p.A. Shareholders’ Meeting on 30 May 2025, between 31 March 2026 and 2 April 2026, Poste Italiane S.p.A. purchased 1,773,263 treasury shares at an average unit price of €20.531573, for a total consideration of €36,407,878.70.
At the close of this first tranche of the programme, considering also the treasury shares in the portfolio deriving from previous share buy-back transactions, Poste Italiane holds 13,767,373 treasury shares, equal to 1.054% of the share capital.
New Service Contract
On 29 April 2026, the Ministry of Enterprise and Made in Italy and Poste Italiane S.p.A. signed the new Service Contract for the provision of the Universal Postal Service, effective from 1 May 2026 to 31 December 2031.
Logistic 360 S.r.l. (Benetton Logistics S.r.l.)
On 16 April 2026, Poste Logistics S.p.A. (‘Poste Logistics’), a Poste Italiane Group company dedicated to integrated logistics activities, entered into a Strategic Partnership Agreement with Benetton Group Srl with the aim of creating a logistics leader capable of attracting new customers and supporting the growth of Italian and European trade. The agreement, which aims to leverage the parties’ assets and specific expertise in the management and distribution of clothing, provides for Poste Logistics to acquire a majority stake (51%) in Benetton Logistics Srl, a spin-off company of the Benetton Group, renamed Logistic 360 S.r.l. (the ‘Joint Venture’ or the ‘Transaction’). The core objectives of the Joint Venture are to strengthen and enhance the Castrette di Villorba hub, located in the province of Treviso, which is one of the most advanced European hubs dedicated to managing logistics for the fashion sector. The Transaction, which was subject to the condition precedent of notification to the Italian Antitrust Authority, which took place on 24 April 2026, formally took effect on the same date.
