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The Poste Italiane Group's third Integrated Report

This new edition is the result of the Company's continuous and renewed commitment to strengthening its accountability and responsibility towards stakeholders.
Following an intense and complex year that has affected our lives and the performance of world markets, it is a source of further pride to present to you Poste Italiane Group's third Integrated Report. The health emergency has pushed the conditions of survival of businesses to the limit, having a significant impact on a large part of the national economy and causing great social hardship. This situation requires companies to act quickly, to rethink not only products and services, but also the business models themselves, capable of connecting people, technology, organisation and all other forms of capital within a flexible and interactive system, in which interaction itself generates value.

Companies that place sustainability at the heart of their strategies will be able to emerge better and faster from the Covid-19 crisis. This is particularly true for those companies that have always sought a balance between growth and respect for social and environmental balances in the past. Those who have integrated the creation of shared value with the territory into their business models will have a greater chance of recovery and success than those who have not. In particular, innovation and digitisation will play a decisive role in the recovery of the economy and the social fabric. The pandemic has, in fact, accelerated the ongoing changes that characterise the so-called "fourth industrial revolution" with the rapid expansion of e-commerce, online education, digital health and remote work.

The effects of these changes - which will persist for a long time, even after the pandemic has ended- are bringing great benefits to companies. However, they also risk creating or worsening inequalities, especially in situations of digital divide, which today represents one of the greatest risks at global level - along with environmental ones, as also highlighted at this year's World Economic Forum.

Sustainability and innovation become, therefore, the pillars from which to start the recovery. In fact, the Group's new Strategic Plan "2024 Sustain & Innovate" has been based on these pillars. In line with the previous one, whose objectives were successfully achieved, the new Plan aims to bring about responsible growth and drive Italy's sustainability and social integrity through innovation and digitisation by setting financial, operational and sustainability objectives. Among the latter, particular importance is attached to the Group's objectives in fighting climate change in the short, medium and long term, aiming at becoming carbon neutral by 2030, thus contributing in advance to European objectives in this area.

Compared to what happened in 2020, due to the Covid-19 pandemic, the country found itself facing completely unexpected situations and in this particularly challenging scenario, with flexibility, responsibility and resilience, the Group renewed its support for the territory and the community, guaranteeing continuity of services and making its logistics network available to the entire national fabric. Despite the health emergency, in 2020 Poste Italiane confirmed its leadership position in the financial, insurance and payment services sectors, as well as being the largest Italian company in the logistics sector.

The numerous national and international awards are evidence of the solid path undertaken by Poste Italiane towards the achievement of the full integration of sustainability within its organisation. In continuity with 2019, in 2020, Poste Italiane confirmed its presence within the Dow Jones Sustainability World Index, the most prestigious sustainability index in which the companies considered best in the world in the sustainable management of their business are included, and within the more restrictive Europe segment. This was followed by other important confirmations in equally prestigious indices: Bloomberg Gender-Equality Index (GEI), Euronext Vigeo-Eiris World 120 and FTSE4GOOD. During the period, Poste Italiane was recognised by CDP (formerly Carbon Disclosure Project) as a leader in the fighting against climate change, appearing in the "Leadership" category with an A- rating. In addition, particular importance is attached to the Group's positioning within the "Silver Class" in S&P Global's Sustainability Yearbook 2021. It is worth highlighting that Poste Italiane is the only Italian company in the finance and insurance sector to have been awarded this recognition.

The results achieved allow us to look back with satisfaction at what has been achieved so far, and constitute a solid point of Poste Italiane's reputation in the eyes of society and markets. Our Sustainability journey continues, aware that only through a constant and concrete commitment to achieving common goals with our stakeholders, we can meet the new challenges of sustainable development and create shared value for the country