Almawave S p A : third Sustainability Report approved

ALMAWAVE: THIRD SUSTAINABILITY REPORT APPROVED

• The document consists of four main thematic areas: Governance, Responsible Digital Transition, People, and Environment, and sets guidelines for a targeted ESG strategy, with objectives to 2023, 2025, and 2030
• Through its work, the company contributes to 12 of the United Nations' Sustainable Development Goals (SDGs).
• ESG Committee established within the BoD
• Board of Directors also passes resolutions to execute the 2021-2023 Stock Grant Plan

CEO Valeria Sandei: "The Group has always embraced sustainability as a fundamental aspect of its business, incorporating ESG factors into its market product and service offerings and the Company's internal management, thus promoting a responsible, accessible, and sustainable

digital transition."

Rome, July 28, 2023 - The Board of Directors of Almawave S.p.A., an Italian enterprise listed on the Euronext Growth Milan market (Ticker: AIW) and part of the Almawave Group, an Artificial Intelligence (AI), natural language analysis and Big Data services player, has approved the Group's new Sustainability Report.

The report addresses all company stakeholders, presenting Almawave's strategic and operational developments in 2022 in terms of 12 of the 17 United Nations' 2030 Agenda for Sustainable Development goals. It also sets out the guidelines of the company's sustainability strategy for the short, medium and long term, setting targets to 2023, 2025 and 2030. This is a strategy which relates closely to the sector in which the company operates, the digital sector, in which technology and in particular Artificial Intelligence play a strategic role.

"As testament to how sustainability is an increasingly core aspect of our Group's operations, with our business model and AI solutions enabling businesses and PA's to streamline practices and the achievement of goals, we have established an ESG committee within the Board of Directors. We have also set out a sustainability strategy with short-, medium- and long-term targets - Sustainable Development Goals - designed to add further weight to the company's mission to develop and accelerate the digital transition in people's daily lives," adds Valeria Sandei, Almawave CEO.

Almawave's Sustainability Report, certified by KPMG and now in its third edition, comprises four main thematic areas: Governance, Responsible Digital Transition, People and Environment. These are analyzed broadly, with the most relevant sustainability impacts in these areas both for the company and its stakeholders identified, measured and monitored.

The company's focus on sustainability is further evidenced by its receipt of the AssoNEXT Best ESG Identity award in November 2022, and, in February 2023, its formal membership of the United Nations Global Compact initiative. This commits Almawave to developing, actively fostering and promoting corporate sustainability practices, with an emphasis on human rights, labor, the environment, and anti-corruption.

The company's core business is also achieved through the creation of platforms and services with the key objective of generating sustainable development. These solutions are already being applied to multiple projects, featuring objectives that include increasing community well-being, optimizing gas and water consumption, digital inclusion, and ensuring that the digital transition is effective and responsible.

The significant recruitment plan that the company began in 2022 has led to a 45% growth in the workforce, which now totals 434 people (at June 30, 2023). 40% of the new hires in 2022 were under 30 years old (29% in 2021), confirming the Group's ability to attract young talent to meet its need to constantly strengthen skills in support of business evolution.

Almawave continued to grow sustainably in 2022, achieving significant results by focusing on investment in Research and Development - which increased by 10% - and on technology laboratories, which increased from five to six. The value generated and distributed to stakeholders also grew consistently (+45% and +49%), as did the number of customers (+131%).

The document was drawn up according to the highest accredited standards, the GRI (Global Reporting Initiative), to facilitate understanding according to a metric adopted by the majority of enterprises and for comparability with other Information Technology players.

For further details on the Almawave Group's results and activities, the full 2022 Sustainability Report may be downloaded from July 31, 2023 from: Almawave | Sustainability

Other Board resolutions - Assignment of targets under the 2023 Stock Grant Plan

The Board of Directors at the meeting also passed certain resolutions in execution of the 2021-2023 Stock Grant Plan ("Plan"). Reference should be made to the Admission Document prepared for admission to the AIM Italia (now Euronext Growth Milan) further details, and to the Company's press release of August 2, 2021, in which information was provided on the approval of the Plan's Implementation Regulations and further motions taken in execution of the motions of the Shareholders' Meeting of February 26, 2021.

In particular, the Board of Directors at today's meeting:

• confirmed as beneficiaries of the third tranche Ms. Valeria Sandei, Mr. Raniero Romagnoli and Mr. Paolo Angelo Paravento;
• set the maximum number of shares which may be issued in execution of the third tranche (432,600);
• identified the performance targets for the third tranche of the plan, linked to the achievement and possible surpassing of target results for the financial year 2023 and the achievement of M&A growth objectives that comply with the strategic guidelines and certain operating and financial parameters.

Almawave profile

Almawave S.p.A., an Almaviva Group company, is a leading Italian Artificial Intelligence and written and spoken natural language processing player. Almawave leverages cutting-edge proprietary technologies and applied services to deliver upon the potential of AI as enterprises and the public sector evolve digitally. An international focus is provided by Almawave do Brasil, Almawave USA and PerVoice. The Group has dedicated technology laboratories and over 400 professionals with significant expertise of enabling technologies and the main frameworks - Big Data, Data Science, Machine Learning, AI Architecture and Integration - in addition to broad business process knowledge. Almawave's technological asset base, conceived and built as a model of natural experience in the interaction between man and machine, can interpret text and voice in 40 languages, interacting in multi-channel mode, analyzing data and information with a view to knowledge development and automation. The company has a customer base of over 300, with thousands of final users of its platforms. Two new companies were added to the Group scope: The Data Appeal Company, operating with an AI-basedproduct in the world of location intelligence for the Tourism, Fintech and Retail and Sistemi Territoriali, offering decision support system solutions, Geo spacial analytics and Big Data expertise in the Utilities and Government sectors.www.almawave.it

For further information:

Almawave contacts (External press office):

Thanai Bernardini, mob. [phone], [e-mail]

Alessandro Bozzi Valenti, mob. [phone],[e-mail]

IR Contacts:

Antonello Gresia, tel. [phone],[e-mail]

IR Advisor Contacts:

Mara Di Giorgio, mob. [phone], [e-mail]

Euronext Growth Advisor Contacts:

Banca Mediolanum, tel. [phone], [e-mail]

Almaviva Group contacts:

Ilaria De Bernardis, Media Relations Manager, mob. [phone], [e-mail] Scaringella, Media Relations, tel. [phone], mob. [phone], [e-mail]