Great Britain twice came from behind before eventually losing 5-2 to Italy in Coventry.
The score was 2-2 after two periods after Luke Ferrara and Ollie Betteridge scored for Britain, but Italy hit three unanswered goals in the final period, including an empty-netter.
The match was part of a three-team warm-up series before next month's World Championship in Slovakia.
Italy now play Hungary on Saturday, with Britain meeting Hungary on Sunday.
Britain will then finalise their preparations with two games against Russian side Torpedo Nizhny Novgorod in Nottingham and Sheffield next weekend.