Investor Presentaiton

Telecom Italia Conference Call 2010 Results & Plan Update Fixed Business: Main Goals and Action Plan Goals Increase BB penetration of existing customer base Fixed BB Lines (Millions) Develop ICT market Introduce video services Outlook (1) Cagr '10-'13 +7% 1.5 1.4 2010 2011 2013 ARPU (ARS per month) 87 Cagr '10-'13 +14% 76 2010 2011 2013 Action Plan Upgrade local loop capacity to increase bandwidth Introduce VoD, content delivery and Connected Home applications Migrate from per minute charging to flat pricing Develop supplementary service offers on top of basic telephony (1) Net of Intercompany Internet & Data over Fixed Revenues(1) 37% 42% 2010 2011 2013 TELECOM ITALIA FRANCO BERTONE 11

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