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Telecom Italia - Exchange Offer 2024 (XS/US) - Launch (Multiple Offers)

Telecom Italia Finance/TIM S.p.A./Telecom Italia Capital - Exhange Offers

18 APRIL 2024


Full announcement including disclaimers and offer restrictions available via Luxse


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Invitation byTelecom Italia Finance

to Eligible Holders to offer to exchange up to the Total Cap €1,050,000,000 7.750 per cent. Guaranteed Notes due 24 January 2033 – (ISIN: XS0161100515)

for

an equal aggregate principal amount of new 7.750 per cent. Guaranteed Notes due January 24, 2033


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Invitation byTIM S.p.A.

to Eligible Holders to offer to exchange up to the Total Cap€750,000,000 2.875 per cent. Notes due January 28, 2026 – (ISIN: XS1846631049)€1,000,000,000 3.625 per cent. Notes due May 25 2026 – (ISIN: XS1419869885)€1,250,000,000 2.375 per cent. Notes due October 12, 2027 – (ISIN: XS1698218523)€1,250,000,000 6.875 per cent. Notes due February 15, 2028 – (ISIN: XS2581393134)€1,500,000,000 7.875 per cent. Notes due July 31, 2028 – (ISIN: XS2637954582)€1,000,000,000 1.625 per cent. Notes due January 18, 2029 – (ISIN: XS2288109676)€850,000,000 5.250 per cent. Notes due March 17, 2055 – (ISIN: XS0214965963)

foran equal aggregate principal amount of, in the case of:(i) the EUR Original January 2026 Notes, new 2.875 per cent. Notes due January 28, 2026(ii) the EUR Original May 2026 Notes, new 3.625 per cent. Notes due May 25, 2026(iii) the EUR Original October 2027 Notes, new 2.375 per cent. Notes due October 12, 2027(iv) the EUR Original February 2028 Notes, new 6.875 per cent. Notes due February 15, 2028(v) the EUR Original July 2028 Notes, new 7.875 per cent. Notes due July 31, 2028(vi) the EUR Original January 2029 Notes, new 1.625 per cent. Notes due January 18, 2029(vii) the EUR Original March 2055 Notes, new 5.250 per cent. Notes due March 17, 2055


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Invitation byTelecom Italia Capital

Offers to Exchange Each Series of the Securities Listed Below up to the USD Maximum Acceptance Amount

6.375% USD Original Notes due 2033 – ISINs/CUSIPs – US87927VAF58/87927VAF5 / US87927VAC28/87927VAC2 (144A) / ST92762AC63 /T92762AC6 (Reg S)6.000% USD Original Notes due 2034 – ISIN/CUSIP – US87927VAM00 / 87927VAM07.200% USD Original Notes due 2036 – ISIN/CUSIP – US87927VAR96 / 87927VAR97.721% USD Original Notes due 2038 – ISIN/CUSIP – US87927VAV09 / 87927VAV0

for an equal aggregate principal amount, in the case of:(i) TICAP’s existing Series C 6.375% Guaranteed Senior Global Notes due 2033, with new 6.375%. Notes due 2033(ii) TICAP’s existing 6.000% Guaranteed Senior Global Notes due 2034, with new 6.000%. Notes due 2034(iii) TICAP’s existing 7.200% Guaranteed Senior Notes due 2036,  with new 7.200%. Notes due 2036(iv) TICAP’s existing 7.721% Guaranteed Senior Notes due 2038, with new 7.721%. Notes due 2038


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