Common use of PRESS RELEASE Clause in Contracts

PRESS RELEASE. BOD of WIIT S.p.A. approves 9M 2020 results (1) • Adjusted consolidated revenues of Euro 34.8 million (Euro 23.7 million in 9M 2019), up by 47.3% on 9M 2019; increase driven by organic growth, a focus on higher added-value services, increasing cross-selling on customers of acquirees, consolidation of acquirees and a continually expanding cloud services market; • Consolidated Adjusted EBITDA of Euro 12.4 million (Euro 9.5 million in 9M 2019), up 30.3% on same period of the previous year, thanks to the concentration on Cloud services, the degree of optimisation of process and operating services organisation, cost synergies, and the ongoing improvement in the margin of acquirees; margin on revenue of 35.7%; • Consolidated Adjusted EBIT of Euro 6.4 million (approx. Euro 5.0 million in 9M 2019), up by 29.6% on the same period of the previous year, with a margin on revenue of 18.5%; • Adjusted net profit of Euro 4.3 million (Euro 5.3 million in 9M 2019, this amount also included the Patent Box effect for Euro 1.0 million); • Net Financial Position (excluding impact from application of IFRS 16 of approx. Euro 9.2 million): net debt of Euro 83.9 million (Euro 20 million at December 31, 2019), an amount that primarily includes the debt for the MyLoc acquisition of approx. Euro 49 million. It does not include the valuation of the treasury shares in portfolio, quantified at approx. Euro 23.7 million at market value at September 30, 2020; • In September 2020, Sustainalytics, one of the most authoritative ESG rating agencies, assigned WIIT a rating of 14.3, equivalent to “Low” ESG risk, the second notch on a five-level scale ranging from “Negligible” to “High”.

PRESS RELEASE. BOD of WIIT S.p.A. BoD approves 9M H1 2020 results results(1) • Consolidated revenues of Euro 23.5 million (1+58.8% compared to H1 2019), including the extraordinary effect of the tax credit for Euro 0.4 million; • Consolidated EBITDA of Euro 8.5 million, up 74.1% on the same period of 2019. Margin on revenues of 36.2%; • Consolidated EBIT of Euro 4.2 million, up 123.8% on H1 2019; • Consolidated net profit of Euro 3.1 million reflects the impact on non-recurring costs from the acquisition of Etaeria Spa (approx. Euro 0.1 million) and the benefit from the tax credit (approx. Euro 0.4 million). In the previous year, the “Patent Box” tax credit for previous years was recognised for Euro 1.0 million; • Adjusted consolidated revenues of Euro 34.8 23.1 million (Euro 23.7 14.8 million in 9M H1 2019), up by 47.3+56.1% on 9M 2019the same period of previous year; increase driven by organic growth, a focus on higher added-added- value services, increasing cross-selling on customers of acquireesselling, consolidation of acquirees and a continually expanding cloud Cloud services marketmarket and the acquisition of Matika and Etaeria; • Consolidated Adjusted EBITDA of Euro 12.4 8.2 million (Euro 9.5 5.9 million in 9M H1 2019), up 30.3+40.0% on same period of the previous yearH1 2019, thanks to the concentration on Cloud services, the degree of optimisation of process processes and operating services organisation, cost synergies, and the ongoing improvement in the margin of acquireesacquires; margin on revenue revenues of 35.7%; • Consolidated Adjusted EBIT of Euro 6.4 4.3 million (approx. Euro 5.0 3.1 million in 9M H1 2019), up by 29.6+40.0% on the same period of the previous year, with a margin on revenue revenues of 18.518.7%; • Adjusted net profit of Euro 4.3 3.2 million (Euro 5.3 3.8 million in 9M H1 2019, this amount also included result includes the Patent Box effect for Euro 1.0 million); • Net Financial Position (excluding the impact from the application of IFRS 16 for approx. Euro 1For the definitions of EBITDA, Adjusted EBITDA, EBIT, Adjusted EBIT, Net Financial Position/Net Debt, Adjusted net profit, reference should be made to the “Alternative performance indicators” at the end of this Press Release. • COVID-19 update: - the Company activated its smart working procedures as of February 25, 2020, and from May 18, 2020, began gradually reopening its offices; - given the recurring nature of WIIT’s revenues, no significant repercussions on the 2020 operating and financial performance are expected, as confirmed by the results for the first six months of the year. No revisions to the budget or of impairment tests are therefore necessary. ▇▇▇▇▇, September 9, 2020 – The Board of Directors of WIIT S.p.A (“WIIT” or the “Company”; ISIN IT0004922826; WIIT.MI), a leading Italian player in the Cloud Computing market for enterprises demanding uninterrupted Hybrid Cloud and Hosted Private Cloud services for critical applications, meeting today approved the consolidated results at June 30, 2020, drawn up as per IFRS. The Chief Executive Officer ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ observed: “The results in the first half of the year confirm the Group’s strong growth across all financial indicators. The EBITDA of WIIT and its subsidiaries continues to improve, driven by upselling and cross-selling to existing clients, in addition to cost synergies. There has also been strong growth in existing and new customers’ interest in the smart working and cyber-security services provided through WIIT's Cloud platform. We are therefore extremely optimistic about our results for the second half of the year, thanks to a commercial pipeline that continues to expand”. The Group headed by WIIT (the “WIIT Group”) reports consolidated revenues for H1 2020 of Euro 23.5 million, up 58.8% on Euro 14.7 million for the first half of 2019. This result includes the one-off benefit of Euro 0.4 million from the tax credit. Consolidated Adjusted EBITDA in H1 2020 was Euro 8.2 million, up 40.0% on Euro 5.9 million in H1 2019, with a margin of 35.7%. The WIIT margin in H1 2020 was 47.5%, up from 46% at December 31, 2019. The gradual and substantial improvement in ▇▇▇▇▇▇▇▇’▇ margin continues, increasing from 17.7% in 2019 to 22.4% in H1 2020, and of Matika, which increased from 25.6% in 2019 to 27.6% in the first half of 2020. Finally, the margin of Etaeria was 20.9% in the half year. This progression follows the Group’s concentration on Cloud services, reduced low added-value product revenue, optimised process and operating services organisation, and cost synergies across all subsidiaries. The adjustment to EBITDA for H1 2020 concerns the positive effect from the tax credit and for Euro 0.1 million non-recurring costs for acquisitions. The Net Financial Position (debt), considering the IFRS 16 impact of approx. Euro 9.2 million): net -5.6 million in the period, increased from a debt of Euro 83.9 million (Euro 20 25.5 million at December 31, 2019)2019 to Euro 37.5 million at June 30, an 2020. This amount that primarily includes includes, in particular, the debt value of the acquisition and the earn-outs relating to Etaeria S.p.A. and the Aedera business for a total of Euro 13 million. Strong cash flows were generated from operating activities in the MyLoc acquisition first half of the year, totalling approx. Euro 8.5 million. Cash and cash equivalents were approx. Euro 16.4 million, despite CAPEX of approx. Euro 49 million. It does not include 4.1 million in IT infrastructure related to new orders and the valuation payment of the treasury shares in portfolio, quantified at Group dividends for approx. Euro 23.7 million 4.1 million. The value of treasury shares at market value at September June 30, 20202020 not included in the calculation was approx. Euro 16.0 million. * * * On January 7, 2020 the Company signed a loan contract for a maximum of Euro 40 million, with a banking syndicate comprising Banca IMI S.p.A., as arranger and agent bank, and Intesa Sanpaolo S.p.A. and Banco BPM S.p.A. as lending banks. The loan, principally to support the WIIT Group’s acquisition-led growth strategy on the Italian and international market and investment plan, stipulates the following key terms and conditions: • the composition of the loan as (i) an amortising credit line for a maximum Euro 15 million, with maturity of December 31, 2025; (ii) a bullet credit line of a maximum Euro 15 million, with maturity of June 30, 2026; and (iii) an amortising credit line for a maximum Euro 10 million, with maturity of December 31, 2024; • In September 2020an annual interest rate based on the reference Euribor and an increasing or decreasing variable margin according to the change in the NFP/EBITDA ratio; • EBITDA/net financial charges and NFP/EBITDA covenants which, Sustainalyticsat the date of this press release, one are respected; • the pledging, in favour of the most authoritative ESG rating agencieslending banks, assigned of the holdings representing the share capital of certain target companies acquired by WIIT a rating in execution of 14.3, equivalent to “Low” ESG riskits growth strategy. In accordance with best market practice, the second notch loan contract in addition contains provisions concerning, among others, mandatory early settlement events, conditions on disbursements, declarations and guarantees, limitations on debt and corporate transactions, in addition to dividend distribution limits. The agreements stipulate the initial acquisition of a five60% majority holding in Etaeria for consideration of approx. Euro 3.5 million, in addition to the variable price component subject to the achievement of the 2019 full-level scale ranging from year earnings objectives. The acquisition of the Etaeria shares also involves the payment of an advance for the acquisition of the residual 40%, for which put and call options are stipulated, to which variable price components are linked (“Negligible” earn out”), subject to “High”the achievement of set Etaeria earnings objectives. In relation to the Aedera business unit, the estimated consideration on closing amounted to approx. Euro 1.4 million, in addition to the variable price component (earn out) for approx. Euro 0.9 million, subject to the achievement of the result objectives by the Aedera business unit in the 2019-2022 period. The company has reconfirmed its confidence in WIIT by extending the existing contract through a multi-year agreement for services related to the management of the Group's critical environments. All services are managed and governed centrally with active support 7 days a week, 24 hours a day, and seek to ensure the usability and continuity of the main business processes and multi-channel sales processes through a structured and resilient management model and Hybrid Cloud technologies capable of ensuring the scalability necessary to support future growth in a fast and secure way. Despite the major uncertainties and fears regarding the social and economic repercussions of the health emergency, related the spread of the COVID-19 pandemic, 2020 for WIIT is still considered a year of significant revenue and margin growth compared to 2019. Company operations continue in terms of marketing activities to build the Brand, the analysis of the specific needs of the Company's Targets and the preparation of the relative promotional campaigns.