REPLY: The Board of Directors Approves the Quarterly Report Dated 31 March 2021

All economic and financial indicators are positive:

• Consolidated turnover of €352.4 million (+11.2%);
• EBITDA of €59.6 million (€47.6 million in 2020);
• EBIT of €47.9 million (€38.0 million in 2020);
• Profit before tax amounts to €47.6 million (€33.9 million in 2020).

TURIN, Italy--(BUSINESS WIRE)--Today, the Board of Directors of Reply S.p.A. [MTA, STAR: REY] approved the results as at 31 March 2021.

Since the beginning of the year, the Group has recorded a consolidated turnover amounting to €352.4 million, an increase of 11.2% compared to the corresponding data for 2020.

All indicators are positive for the period. In the first quarter of 2021 the consolidated EBITDA was €59.6 million compared to €47.6 million in 2020, equal to 16.9% of the turnover.

EBIT, from January to March, was €47.9 million (€38.0 million in 2020), and is equal to 13.6% of the turnover.

The profit before tax, from January to March 2021, was €47.6 million (€33.9 million in 2020), equal to 13.5% of the turnover.

The net financial position of the Group on 31 March 2021 is also positive by 227.9 million. The net financial position on 31 December 2020 was positive for €158.7 million.

“"The first quarter of 2021 - stated Mario Rizzante, Reply's Chairman - was very positive, both in terms of revenue and margin growth. These results were possible thanks to our exclusive focus on new technological specialisation niches and the resilience of our network model. The combination of these two factors allowed us to quickly compensate for the slowdown in activities related to the most affected sectors, such as transport, manufacturing and tourism."

"Today - continues Mario Rizzante - the evolution of the pandemic is still influencing economic performance. Entire sectors are still at a standstill and the dynamics of the markets will depend, mainly, on the completion of vaccination campaigns the subsequent national reopening plans."

"The next few months - concludes Mario Rizzante - will be crucial for the recovery of the economy and Reply will work alongside its clients helping them to exploit technology, not only to emerge more quickly from the crisis, but also to seize the new business opportunities brought by a much more digital, connected and automated world than the one we knew twelve months ago."

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
Reply [MTA, STAR: REY, ISIN: IT0005282865] specialises in the design and implementation of solutions based on new communication channels and digital media. Reply is a network of highly specialised companies supporting key European industrial groups operating in the telecom and media, industry and services, banking, insurance and public administration sectors in the definition and development of business models enabled for the new paradigms of AI, cloud computing, digital media and the Internet of Things. Reply services include: Consulting, System Integration and Digital Services www.reply.com

This press release is a translation, the Italian version will prevail.