CORRECTION NOTIFICATION

TELECOM ITALIA: ERRATA CORRIGE
Milan, 12 March 2013 We hereby post the table "TELECOM ITALIA GROUP ­ RECONCILIATION TO COMPARABLE ORGANIC EBITDA AND EBIT" that has been changed from the table attached to the release issued on Thursday March 7th, due to correction of material errors.

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OLIVETTI
(millions of euros) (

2012 (a)

2011 (b b) 343 (36) 6 (10.5) 5 (43) 3 (12.5) 5 1.075 (297) (22) amount (a-b) (63) (21)

Change % (a/b) (18.4) (58.3) % organic (13.3) 27.8

Revenues R EBITDA E

280 (57) (20.4) (65) (23.2) 778

EBITDA margin E n
EBIT

(51.2)

27.9

EBIT margin E
Headcount at year-end (number) H

(27.6)

***

OM CONCILIATIO TO COMPARABLE EBITDA AND EB ON P BIT TELECO ITALIA GROUP ­ REC
EBITDA ­ reconciliation organics data
TELECOM ITAL IA GROUP L 2012 2011 11,645 12,171 3 (156) 220 118 39 63 11,865 93 42 12 39 12,111 153 114 (7) 46 8,829 Domestic 2012 8,676 Telecom Italia S.p.A. a 2012 2011 8,433 8,936 - - 159 118 (6) 47 8,592 105 63 9 33 9,041

(millions of euros) HISTORICAL EBITDA Change in th scope of consolidation he o Foreign currency financial sta r atements translation effect Non-organic (income) expens ses Disputes and settlements s Restructuring expenses (* *) Other income (expenses), net c , COMPARABLE EBITDA

2011 9,173 (1) 7 108 63 12 33 9,287

(*) The item includes reversals and provisions to the mobility found s

Brazil (millions of re reais) 2012 HISTORICAL EBITDA Change in th scope of conso he olidation Foreign currency financial sta r atements translation effect Non-organic (income) expens ses Disputes and settlements s Restructuring expenses (* *) Other income (expenses), net c , COMPARABLE EBITDA 53 11 - 42 5,061 5,008 2011 4,631 - - 18 - - 18 4,649

Argentina (millions of pesos) 2012 6,553 2011 5,947 - - 90 - 90 - 6,643 - - - - 5,947

Olivetti (millions of euros) 2012 (57) 2011 (36) (1) - 31 - 31 - (26) 1 - 1 - (36)

13


EBIT ­ rec conciliation org ganics data
(millions of euros) HISTORICAL EBIT Change in th scope of conso he olidation Foreign currency financial sta r atements translation effect Non-organic costs and expen nses (revenues and income) already described under EBITDA D Impairment losses on goodw and other will non-current assets t Gains (losse on disposals, i es) impairment reversals (losses) of non-curr o rent assets and investments m Restructurin expenses ng COMPARAB EBIT BLE TELECOM ITALIA GROUP A 2012 2011 1,926 (680) 6 (76) Domestic 2012 1,078 2011 (1,996) - 6 Telecom Italia S.p.A. S 2012 2011 944 (246) - -

220 4,426

93 7,364

153 4,016

108 7,307

159 4,016

105 5,376

(71) 3 6,504

(46) - 6,661

(21) - 5,226

(60) - 5,365

(36) - 5.083

(15) - 5,220

Brazil (millions of re ais) e 2012 HISTORICAL EBIT Change in th scope of conso he olidation Foreign currency financial sta r atements translation effect Non-organic costs and expen nses (revenues and income) already described under EBITDA D Impairment losses on goodw and other will non-current assets t Gains (losse on disposals, i es) impairment reversals (losses) of non-curr o rent assets and investments m Restructurin expenses ng COMPARAB EBIT BLE 2,424 2011 2,289 - -

Argentina (millions of pesos) o 2012 1,253 2011 2,925 - -

Olivetti (millions of euros) o 2012 (65) 2011 (43) (1) -

53 -

18 -

90 1,480

- -

31 -

1 -

- - 2,477

- - 2,307

- - 2,823

- - 2,925

- 3 (31)

- - (43)

14

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