REPLY: The Board of Directors Approves the Quarterly Report Dated 31 March 2025

Today, the Board of Directors of Reply S.p.A. [EXM, STAR: REY] approved the results as at 31 March 2025.

Since the beginning of the year, the Group has recorded a consolidated revenues amounting to €603.4 million, an increase of 8.9% compared to the corresponding data for 2024.

All indicators are positive for the period. In the first quarter of 2025 the consolidated EBITDA was €105.3 million compared to €87.3 million in 2024, equal to 17.5% of the turnover.

EBIT, from January to March, was €88.7 million (€72.1 million in 2024) and is equal to 14.7% of the turnover.

The profit before tax, from January to March, was €86.9 million (€73.1 million in 2024), equal to 14.4% of the turnover.

The net financial position of the Group on 31 March 2025 is also positive by 537.0 million. The net financial position on 31 December 2024 was positive for €349.1 million.

“The close of 2024 and the positive start of 2025,’ said Mario Rizzante, Reply Chairman, ‘reaffirm both the solidity of the Reply model and the Group's ability to quickly position itself among the market-recognized leaders in the transformation driven by artificial intelligence.”

“In the first quarter of 2025,’ continues Mario Rizzante, "we recorded a marked increase in demand for solutions based on Generative AI, Data Analysis, Cloud Computing and Cybersecurity. “More generally, we are seeing a growing centrality of solutions integrating artificial intelligence, data, and connected objects in the strategic investments made by companies, regardless of their industry.

“In recent months,’ concludes Mario Rizzante, “we have made significant investments to develop additional highly specialised consulting, design and implementation services, defining new offerings such as Agentic AI, Silicon Shoring, and AI pre-built applications . . These are designed to better meet our clients’ needs to safely integrate AI capabilities into their systems, with the aim of supporting and transforming increasingly complex and critical processes.”

The manager responsible for preparing the company's financial reports, Giuseppe Veneziano, states in accordance with Paragraph 2 of Article 154-bis of the Consolidated Finance Act, that the accounting information contained in this press release corresponds to the company's records, ledgers and accounting entries.

Reply [EXM, STAR: REY, ISIN: IT0005282865] specialises in the design and implementation of solutions based on new communication channels and digital media. Reply is a network of highly specialised companies supporting key European industrial groups operating in the telecom and media, industry and services, banking, insurance and public administration sectors in the definition and development of business models enabled for the new paradigms of AI, cloud computing, digital media and the Internet of Things. Reply services include: Consulting, System Integration and Digital Services. www.reply.com

This press release is a translation, the Italian version will prevail.

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