FOCUS I NWIT Ardian’s first telecoms transaction is essential to future economic growth Rosario Mazza, Giovanni Ferigo, Responsible of Ardian CEO of Inwit Infrastructure Italy Debut telecoms deal sees Ardian-led consortiumbiggest tower company in Italy. The venture will partner with Telecom Italia in Europe’s second-allow Vodafone and TIM to release capital and biggest mobile towers company accelerate the roll-out of their 5G services. We are very pleased that Ardian, one of the world’s Giovanni Ferigo: Our new venture began in Marchleading private investors in infrastructure, is joining 2020 when the European Commission cleared the project from the beginning. They are long-term Telecom Italia and Vodafone to combine theirinvestors, and I am confident that they will bring a Italian mobile tower networks, making Inwit thelot of expertise and innovative thinking to our board. 94 INVESTMENT ACTIVITIES