Reti Telematiche Italiane : Shareholders' AGM of Retelit S.p.A.

Microsoft Word - Shareholders' AGM April 28 2016 (002).docx PRESS RELEASE SHAREHOLDERS' AGM OF RETELIT S.P.A. Ordinary session

• Financial statements of Retelit S.p.A. approved and Group consolidated financial statements at December 31, 2015 reviewed;
• Approval of Section I of the Remuneration Report in accordance with Articles 123-ter, paragraph 6, of Legislative Decree 58/1998 and 84-quater of the Issuers' Regulation;
• Liability action against previous directors approved. Extraordinary session
• Amendments made to Articles 11, 16 and 23 of the By-Laws, with introduction also of new Article 22-bis.

Milan, April 28, 2016 - The Shareholders' AGM Of Retelit S.p.A. (Borsa Italiana S.p.A.: LIT), a company listed on the Italian Stock Exchange, today approved the financial statements and reviewed the Group consolidated financial statements at December 31, 2015.

Consolidated revenue in 2015 totalled Euro 42.1 million, up 13.3% on Euro 37.2 million in 2014. Telecommunication service revenue grew 9.6% to Euro 33.9 million, from Euro 31.0 million in 2014, with revenue from network usage rights and maintenance increasing 37.1% to Euro 7.0 million, from Euro 5.1 million in 2014 and benefitting from, among others, the fiber optic connections released to mobile operators in the year. The EBIT loss of Euro 0.8 million significantly improved on 2014 (loss of Euro 9.3 million). It is recalled that the 2014 result was heavily impacted by the Euro 5.8 million write-down on network infrastructure following the impairment test in accordance with IAS 36. On the basis of the above performance, the net profit totaled Euro 3.4 million, compared to a net loss of Euro 7.9 million in the previous year, benefitting from financial income of Euro 4.3 million. The net cash position amounted to Euro 11.5 million.

The Group consolidated net profit of Euro 3.4 million comprised the net profit of the wholly- owned subsidiary e-via S.p.a. of Euro 4.1 million (carried forward), net of the loss of the parent company Retelit S.p.A. of Euro 0.7 million (compared to a loss of Euro 4.3 million in 2014).

The Shareholders' AGM, in accordance with Articles 123-ter, paragraph 6 of Legislative Decree No. 58/1998 and 84-quarter of the Issuers' Regulation, approved the First Section of the "Remuneration Report", which outlines the remuneration policy for senior directors and executives adopted by the Company.

The AGM also considered the liability action in accordance with Article 2393 of the Civil Code against a number of directors in office between October 30, 2012 and January 7, 2015, according to the terms and limits indicated in the Board of Directors' Illustrative Report available on the company website www.retelit.it (Corporate Governance / Shareholders' Meetings / Directors' Report - Third Matter on the Agenda).

Extraordinary session

The Shareholders' AGM, in extraordinary session, approved the Board of Directors proposal to amend Articles 11, 16 and 23 of the By-Laws, in addition to the introduction of the new Article 22- bis. The new version of the By-Laws with highlighting of the changes introduced is contained in the Board of Directors' Illustrative Report, available on the Company website www.retelit.it (Corporate Governance / Shareholders' Meetings / By-Law Amendments Report - Fourth Matter on the Agenda).

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Finally, a summary of voting reporting the number of shares represented at the Shareholders' AGM and the number of voting shares, the share capital percentage which these shares represent, in addition to the number of votes in favour and against the motions considered and the number of abstentions, in addition to the minutes of the Shareholders' AGM in ordinary session, will be made available to the public according the means and timelines established by the applicable regulation.

Mr. Fabio Bortolotti, as Executive Officer for Financial Reporting, declares, in accordance with paragraph 2 of Article 154-bis of the CFA, that the accounting information contained in this press release corresponds to the underlying accounting documents, records and accounting entries.

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With over 9,000 kilometers of fibre-optic infrastructure, 9 urban networks and 18 Data Centers, Retelit is a major Italian provider of digital communication and infrastructure services to the telecommunications and ICT markets. Since 2013, following substantial investment in new technologies, Retelit has extended its offer to new generation ultra- broadband VPN services and high added-value Cloud Storage and Data Center services. Retelit has been listed on the Milan Stock Exchange since 2000.

For further information: Investor Relations DarioPardi

Tel +39 02 2020451

CDR Communication Vincenza Colucci Tel + 3356909547

vincenza.colucci@cdr-communication.it

Institutional Media Relations

CDR Communication Angelo Brunello

Tel. + 39 329 2117752

angelo.brunello@cdr-communication.it

ICT Media Relations

Key4Media Lucia Casartelli

Mob. +39 346 2191801

media.relations@retelit.it