TIM: contract with Flavio Cattaneo terminated by mutual consent

Mr Flavio Cattaneo and TIM, after the completion of the major and extraordinary turnaround of the business (created with all the positive quarterly reports, positive on every line, which demonstrate a major reorganisation of internal processes, efficiency plans on non-core costs, and revenue plans, which saw company increase its customers and revenues to levels not reached in the last 10 years, increase its core investments, bringing the company back to leadership of the mobile segment (downloads) and covering around 70% of the country with fibre), have agreed on the consensual termination of his employment with the Company.

The Company will embark on a second phase of the plan, a conventional company relaunch that pursues the targets set by Mr Flavio Cattaneo, first and foremost, the fibre plan.

The Company thanks Mr Flavio Cattaneo for the major task he undertook. It is universally recognised that such a recovery has never before been seen, making it the first among the major telecommunications companies that were formerly incumbent in Europe and the US, in terms of speed of growth of all main top line drivers, and of profitability, as well achieving the greatest coverage in fibre.

Mr Flavio Cattaneo thanks the Company and all its stakeholders for having had the opportunity to lead such a major company.

Rome, 24 July 2017