REPLY: The Board of Directors Approves the Quarterly Report Dated 31 March 2026

Today, the Board of Directors of Reply S.p.A. [EXM, STAR: REY] approved the results as at 31 March 2026.

Since the beginning of the year, the Group has recorded a consolidated revenues amounting to €645.0 million, an increase of 6.2% compared to the corresponding data for 2025.

All indicators are positive for the period. In the first quarter of 2026 the consolidated EBITDA stood at €112.0 million compared to €105.3 million in 2025, equal to 17.4% of the turnover.

EBIT, from January to March, was €95.1 million (€88.7 million in 2025) and is equal to 14.7% of the turnover.

The profit before tax, from January to March, was €99.8 million (€86.9 million in 2025), equal to 15.5% of the turnover.

The net financial position of the Group on 31 March 2026 is positive at €643 million. The net financial position on 31 December 2025 was positive for €467.6 million.

“The results we have presented - said Mario Rizzante, Chairman of Reply - confirm the soundness of the path we have undertaken in recent years. The growth we have achieved is the result of a deep and ongoing process of re-engineering, repositioning and evolving the offering we bring to our clients every day. This commitment has enabled our Group to position itself as one of the few organizations, now recognized by the market as capable not only of interpreting the continuous and almost instantaneous evolution of artificial intelligence, but above all of translating it into meaningful innovation for companies.”

“At Reply - continues Mario Rizzante - we believe that the best way to make the potential of artificial intelligence applicable to the diverse needs of companies is to combine it with strong vertical expertise, both technological and market-based. For this reason, since the start of the year, we have launched more than 30 new specific initiatives aimed at providing our clients with increasingly comprehensive and highly specialized support.”

“Today - concludes Mario Rizzante – we are experiencing the first phase of AI, characterised by the integration of artificial intelligence into existing business processes and models. In the near future, however, competitive advantage will not be determined solely by the ability to use AI effectively, but by the possibility of turning it into a true proprietary asset. The recent announcement of the Reply Model Factory fit into this vision. We wanted to create an industrial platform designed to support companies in the analysis, design, and training of specific models—models capable of overcoming the limitations of general-purpose systems when applied to the vertical and distinctive contexts of each business. The aim is to offer our clients to go beyond generic intelligence by empowering them to develop cutting-edge models that will evolve together with their specific knowledge, processes, and skills, while ensuring they retain full control over them.”

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. As a network of highly specialised companies, Reply supports major industrial groups in the telecom and media; industry and services; banking and insurance and public sectors in defining and developing business models enabled by the new paradigms of AI, cloud computing, digital media and the internet of things. Reply's 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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