Infrastrutture Wireless Italiane SpA Q3 2023 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Stefano Gamberini - Equita SIM S.p.A., Research Division - Analyst : I also have 3 main questions. The first, coming back on this topic of Iliad and the change of the limits in magnetic pollution. Considering these changes, probably you have more room in the so-crowded towers where Iliad couldn't enter, couldn't be there and consequently you can easily [hospitate] Iliad also in these towers that are clearly in the urban areas. If I'm not wrong, you expect something in the region of 1,500 of hospitalities that could arrive from Iliad. The second question regarding the financial charges, the cash financial charges in the Slide #10, which were in excess of the financial charges in the P&L. Could we expect also the same trend in the first quarter? And what we could expect next year on this financial charges figure? Because this year will be offset by the trend of working capital, but what could happen next year? And still regarding guidance, if you can give us a split of the higher sites that you expect, 50 higher sites, what of these sites is related to the Anchor tenants? Finally, as regards the update of your business plan, in March '23 you started with a new business plan. Will you update the business plan in March '24 or when you expect to do it? Diego Galli Stefano, thanks for the 4 questions. The first one is on... REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. NOVEMBER 09, 2023 / 5:00PM, INWT.MI - Q3 2023 Infrastrutture Wireless Italiane SpA Earnings Call

Question: Usman Ghazi - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst : I've got 3 questions, please. The first one was just on the small cell and DAS nodes kind of net additions in the quarter dropped to 0. I was just wondering whether there is a timing there or if you can explain what has happened? The second question was just looking at the Anchor PoP net additions. So your site, the net additions have obviously gone up from the BTS with the Anchors and the contract with Open Fiber and EU Next Generation. However, the Anchor PoP net additions haven't yet followed that step-up in site additions. So I guess, the question is, is it that the tenancies on the BTS are coming through with a bit of a lag? Or is it that the tenancies on existing sites, there's a bit of a slowdown there? So that was the second question. I hope that's clear. And then the third question was, just looking a bit further out, I mean, the MNOs, when they bought the spectrum, they obviously have coverage obligations through to 2027 for 99.4% PoP coverage with 5G and coverage on rail and road transport routes, et cetera, et cetera. So I mean, based REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. NOVEMBER 09, 2023 / 5:00PM, INWT.MI - Q3 2023 Infrastrutture Wireless Italiane SpA Earnings Call on the current kind of trajectory of site additions that you're doing, do you see the MNOs fulfilling those requirements? Or do you see that there will need to be an acceleration on the infrastructure build-out for the MNOs to meet those requirements that they're committed to? Diego Galli Well, thanks for the question, Usman. So starting from the first one, yes, it's related to the remote units and DAS basically. And that's, honestly, for DAS, what we consider the main driver is revenue growth for DAS and new businesses, in particular because the delivery of remote units is a little bit lumpy, because the business clearly has been transformed from, let me say, a small location to bigger, bigger projects which don't have a regular

Question: Usman Ghazi - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst : Can I just check this... Diego Galli There is a little bit of...