Press Release - Results at 30 June 2025 approved

• In first half 2025, the Group achieved consolidated gross revenue of Euro 591.3 million (Euro 595.1 million in 2024) and growing operating margins, with EBITDA at Euro 94.7 million (Euro 90.4 million in 2024) and EBIT at Euro 52.9 million (Euro 51.1 million in 2024). Net profit attributable to the owners of the parent was Euro 20.4 million, in line with the same period of 2024 (Euro 20.3 million)
• The net financial position came to Euro 13.9 million (Euro 21.5 million at 31 December 2024) after outlays of Euro 41.3 million for the consideration of treasury shares tendered in the public purchase offer and Euro 14.5 million for dividend distribution
• At the end of June, the RCS Group's titles reach an active digital customer base of over 1.2 million subscriptions: 701 thousand for Corriere della Sera, Italy's leading newspaper also on newsstands, 262 thousand for Gazzetta, 170 thousand for El Mundo and 120 thousand for Expansión
• La7 achieved high ratings with 4.4% in the all-day share and 6% in prime time, up by 13% and by 10% versus the same period of 2024, and was the third channel in terms of ratings in the 20:00/22:30 time slot, with a 6.2% share, up by 10% and fourth channel in prime time. Advertising on La7 and La7d, totalling approximately Euro 81.2 million, increased by 5.3% versus the same period of 2024 (Euro 77.1 million) and according to Nielsen figures for the half-year period, La7 is the top TV publisher in terms of advertising revenue growth rate
• The Cairo Editore magazine publishing segment achieved EBITDA of Euro 3.9 million, up versus the same period of 2024 (Euro 3.3 million)

The first half of 2025 was dominated by the ongoing conflicts in Ukraine and the Middle East, with their repercussions extending to the economy and trade. These events persisted in creating a state of significant overall uncertainty. The Group has no direct exposure and/or business activities towards the markets affected by the conflict and/or sanctioned entities. Concerns over the imposition of tariffs and restrictions on international trade by the U.S. have intensified this uncertainty.

Against this backdrop, in first half 2025:

• the Group achieved higher operating margins (EBITDA and EBIT) than in the same period of 2024 and continued to generate significant positive operating cash flows. The net financial position came to Euro 13.9 million (Euro 21.5 million at 31 December 2024) after outlays of Euro 41.3 million for the consideration of treasury shares tendered in the public purchase offer and Euro 14.5 million for dividend distribution;

• RCS's margins (EBITDA, EBIT and net result) were up versus the same period of 2024. RCS confirmed remarkable newsstand circulation levels and continued the growth of digital operations. At end June, the total active digital customer base (digital edition, membership, and m-site) of Corriere della Sera reached 701 thousand subscriptions, while Gazzetta's pay products reached 262 thousand subscriptions (Internal Source). Digital subscriptions also increased in Spain (digital edition and premium), reaching at end June 2025 170 thousand subscriptions for El Mundo and 120 thousand subscriptions for Expansión (Internal Source). Both Italian newspapers, Corriere della Sera and La Gazzetta dello Sport, and in Spain Marca and Expansión, retained their circulation leadership in their respective market segments (ADS for Italy and OJD for Spain). La Gazzetta dello Sport, in the latest 2025/I Audipress survey published in June 2025, retained its position as the most-read Italian newspaper with approximately 2.1 million readers, followed in second place by Corriere della Sera with approximately 1.7 million readers. The latest Estudio General de Medios survey published in July 2025 confirms Unidad Editorial as the daily news leader with almost 1.6 million total daily readers with the titles El Mundo, Marca, and Expansión. Marca, with 967 thousand readers, is the most widely read newspaper in Spain and El Mundo remains firmly the second largest publication among generalists and third among daily newspapers reaching over 479 thousand readers. The main digital performance indicators confirm the top market position of RCS, with the Corriere della Sera and La Gazzetta dello Sport brands, which counted, in the period January-May 2025, 29.4 million and 16 million average monthly unique users, and in the period January-May 2025, 4 million and 2.3 million average daily unique users (Audicom). In Spain, as part of the online activities, elmundo.es, marca.com and expansión.com reached 37 million, 68 million and 6.7 million average monthly unique browsers in first half 2025, comprising both domestic and foreign browsers and including apps (Google Analytics). The main social accounts of the Corriere System at 30 June 2025 reached approximately 14.6 million total followers (considering Facebook, Instagram, X, LinkedIn and TikTok - Internal Source) and those of La Gazzetta dello Sport 6.9 million (considering Facebook, Instagram, X, TikTok and YouTube - Internal Source). The social audience of Unidad Editorial Group titles (Internal Source) stands at 12.6 million followers for El Mundo, 21 million for Marca and 2.6 million for Telva (considering Facebook, Instagram, X and TikTok) and 1.6 million for Expansión (considering Facebook, Instagram, X, LinkedIn and TikTok). Net operating revenue amounted to Euro 426.2 million, with total digital revenue (Italy and Spain) amounting to approximately Euro

  104.6 million and accounting for approximately 24.5% of total revenue. Total advertising sales from RCS online media amounted to Euro 66.5 million in first half 2025, making for 38.9% of total advertising revenue;

• the TV publishing (La7) and network operator segment achieved growing ratings and advertising revenue. In first half 2025, La7's average share was 4.4%1in the all-day share and 6% in prime time (20:30-22:30 time slot), up by 13% and by 10% versus the same period of 2024, confirming a high-quality target audience. Specifically, in the six months, La7 was the third channel in terms of ratings in the 20:00/22:30 time slot, with a 6.2% share, up by 10% versus the same period of 2024 and the fourth channel in prime time. In the six months, TgLa7 8 p.m. edition's share grew by 10%. In the early morning segment (7:00-9:00 a.m.), La7, with a 4.7% share and up 17%, ranks fourth nationally. Considering La7d as well, all-day and prime time ratings for the six-month period were 4.8% and 6.3%, respectively. Advertising sales on La7 and La7d, totalling approximately Euro 81.2 million, increased by 5.3% versus the same period of 2024 (Euro 77.1 million) and according to Nielsen figures for the half-year period, La7 is the top TV publisher in terms of advertising revenue growth rate. The La7 channel's news and discussion programmes in first half 2025 all continued to deliver

  1Ratings refer to traditional TV audiences (live ratings and content in the same airing day on TV)

  remarkable results: Otto e Mezzo with an 8.2% average share from Monday to Friday, TgLa7 8 p.m. edition 7.7% from Monday to Friday, diMartedì 8.5%, the four episodes of Una giornata particolare dedicated to the story of the Bible 6.7%, Piazzapulita 6.4%, Propaganda Live 6.7%, In Altre Parole 5.8% on Saturday, La Torre di Babele 4.6%, 100minuti 4.6%, In Onda 6%, Omnibus La7 4.6%, Coffee Break 4.7% from Monday to Friday, L'Aria che tira 5.5% and Tagadà 4.6%. In first half 2025, La7 confirmed its leadership among generalist TV stations in terms of news hours (an average of over 13 hours per day) and was the second channel in terms of live hours (an average of approximately 11 hours per day). On the digital front, in first half 2025 average daily unique users were 255 thousand and 4.9 million average monthly unique users in the first five months of 2025. Stream views were 11.4 million per month. At the end of June 2025, followers of La7 and its active programmes on Facebook, X, Instagram, Tik Tok, WhatsApp, and Threads were 8.5 million;

• the results of the magazine publishing segment Cairo Editore were up versus the same period of 2024.

  In first half 2025, consolidated gross revenue amounted to approximately Euro 591.3 million (comprising gross operating revenue of Euro 563.7 million and other revenue and income of Euro 27.6 million) versus Euro 595.1 million in the same period of 2024 (comprising gross operating revenue of Euro 571.3 million and other revenue and income of Euro 23.8 million).

  EBITDA and EBIT came to Euro 94.7 million and Euro 52.9 million (Euro 90.4 million and Euro 51.1 million in the same period of 2024). Net non-recurring expense amounted to a negative Euro 0.6 million (negative Euro 1 million in the same period of 2024).

  Net profit before non-controlling interests was Euro 34.2 million (Euro 33.7 million in the same period of 2024). Profit attributable to the owners of the parent came to Euro 20.4 million (Euro 20.3 million in the same period of 2024).

  Looking at the business segments, in first half 2025:

• in the magazine publishing segment (Cairo Editore), EBITDA and EBIT came to Euro 3.9 million and Euro 3.4 million (Euro 3.3 million and Euro 2.7 million in the same period of 2024). Regarding weeklies, with approximately 0.7 million average copies sold in the first five months of 2025 (ADS January-May 2025), Cairo Editore retains its position as the leading publisher in copies of weeklies sold at newsstands, with an approximately 29% market share. Including the average sales of titles out of the ADS survey (comprising copies sold of "Enigmistica Più" and of "Enigmistica Mia"), average copies sold were approximately 0.8 million;

• in the TV publishing (La7) and network operator segment, EBITDA grew to approximately Euro

  7.8 million (Euro 6.6 million in the same period of 2024). EBIT was approximately negative Euro

  2.5 million (negative Euro 1.5 million in the same period of 2024);

• in the advertising segment, consolidated gross revenue grew to reach Euro 192.2 million (Euro 192 million in the same period of 2024), EBITDA came to approximately negative Euro 0.2 million (Euro 0.8 million in the same period of 2024) and EBIT to negative Euro 1.5 million (negative Euro 0.5 million in the same period of 2024);

• in the RCS segment, in the consolidated financial statements of Cairo Communication, EBITDA2and EBIT amounted to Euro 83.4 million and Euro 53.5 million (Euro 79.9 million and Euro 50.3 million in the same period of 2024). In first half 2025, initiatives continued to maintain and develop revenue, boosting the publishing systems' range of products, developing the digital platforms and enhancing the vertical publishing systems. In Italy, regarding the main initiatives only, Corriere della Sera carried out the social restyling of local editions, launched the new Corriere Milano Instagram channel, renewed the platform for digital event management, introduced new channels such as Animali, Le lezioni del Corriere, Cook, and Le serie del Corriere (from 3 July), published

2 Mention should be made that RCS adopts a different definition of EBITDA from the one used by the Cairo Communication Group, as indicated in the section below "Alternative Performance Measures". As a result of these differences - regarding provisions for risks and the allowance for impairment, totaling Euro 3 million in first half 2025 - EBITDA shown in the RCS Half-Year Report at 30 June 2025, approved on 31 July 2025, amounted to Euro 80.4 million.

various editorial initiatives to support circulation, revamped the Corriere Milano newsletter ("Incoeu"), released the new YouReporter website, redesigned the 7Corriere Instagram profile, produced new video columns, live studio broadcasts and talks on CorriereTV, and launched the new Corriere Giochi app (from 15 July). Important events were also organized, including "Italia Genera Futuro", "Festival della Prevenzione", "Women in Food", "Premio Bilanci di sostenibilità 2025", the international forum "Pact4Future", the public opening of Corriere della Sera's headquarters at Milan Design Week featuring the Solferino 28 "Città paradiso" installation, Milano Civil Week, the Economia d'Italia cycle of events, Pianeta 2030 Festival, and Bologna 2050. La Gazzetta dello Sport, through its supplements G Magazine and Sportweek, covered the main sporting events of the six months, made its digital edition available to subscribers from 1 a.m., launched the Fantacampionato Mondiale per Club, enhanced its Sunday offerings with anastatic reproductions of historic issues of the newspaper, and organized the third edition of Milano Football Week. In May, Style Magazine was completely redesigned in both content and graphics to mark its 20th anniversary. In June, Amica launched Amica Book Club, a new multichannel project dedicated to reading. Major sporting events organized by RCS Group took place during the six-month period: Giro d'Italia, which took off on 9 May from Albania with the finish line in Rome, touching down in Vatican City where Pope Leo XIV extended his blessing to the runners; Milano Sanremo, which was a major success thanks to the participation of international champions; Tirreno Adriatico; Milano Torino; Strade Bianche and Gran Fondo Strade Bianche; UAE Tour Men and UAE Tour Women; Roma Ostia Half Marathon; and Milano Marathon with the Milano Running Festival. Running alongside Giro d'Italia was Giro-E. In Spain, regarding the main initiatives only, the YoDona magazine introduced a redesign and updated its content offerings starting in March, and on 18 June, Veo7, a new free-to-air digital terrestrial television channel primarily dedicated to cinema, was launched. Work also continued on organizing major events, including participation with El Mundo and La Lectura in the International Contemporary Art Fair in Madrid, the first edition of Gran Encuentro Expansión Catalunya, Foro Internazional Expansión, organized in collaboration with The European House Ambrosetti, Premio Poder Feminino organized by YoDona, Expansión's Fondos and Juridicos awards, and Noche del Deporte organized by Marca.

The consolidated net financial position at 30 June 2025 stood at approximately Euro 13.9 million (Euro 21.5 million at the end of 2024). The change versus end 2024 is attributable mainly to outlays of Euro 41.3 million for the consideration of treasury shares tendered in the public purchase offer, Euro 14.5 million in dividends, and Euro 25.8 million in technical expenditure and non-recurring expense, largely offset by the positive contribution from typical operations.

***

The first half of 2025 was dominated by the ongoing conflicts in Ukraine and the Middle East, with their repercussions extending to the economy and trade. These events persisted in creating a state of significant overall uncertainty. The Group has no direct exposure and/or business activities towards the markets affected by the conflict and/or sanctioned entities.

The early months of the year, particularly since April, saw the introduction by the United States of tariffs and restrictions on international trade, which led and/or are leading to the adoption of similar measures by the countries concerned and the start of negotiations, generating significant uncertainty in financial markets and negative impacts on the economy.

In first half 2025, the Group met the public's strong need to stay informed through its information offering, ensuring a timely service to its viewers and readers. The La7 programmes, the daily editions of Corriere della Sera and La Gazzetta dello Sport in Italy, and of El Mundo, Marca and Expansión in Spain, the Group's magazines and web and social platforms have played a pivotal role in informing, focusing on their mission as a non-partisan, trustworthy public service, and establishing themselves as authoritative players in daily television, print and online information, with strong television ratings and digital traffic figures.

The evolution of the current context and its potential impacts on the outlook, which are under constant monitoring, remain unpredictable as they depend, inter alia, on the progression of the situation in financial markets and the economy driven by the introduction of tariffs and restrictions on international trade, as well as the developments and duration of ongoing conflicts and their geopolitical consequences.

Considering the actions already taken and those planned, and barring any negative impacts resulting from developments in Ukraine and the Middle East, and/or the introduction of tariffs or international trade restrictions, the Group believes that it can confirm the goal of achieving strongly positive EBITDA margins in 2025 - at least in line with those of 2024 - and continuing to generate additional cash from operations. Developments in the ongoing conflicts, the overall economic climate and the core segments could, however, affect the full achievement of these targets.

* * *

The Financial Reporting Manager of Cairo Communication S.p.A., Marco Pompignoli, declares, pursuant to paragraph 2 of Article 154-bis of the Consolidated Finance Law, that the accounting information contained herein is consistent with the underlying accounting documents, books and records.

Cairo Communication is one of the leading groups in the publishing and advertising sales segments, recognized as one of the first to have developed a multimedia sales approach. With the acquisition of the control of RCS MediaGroup, Cairo Communication establishes itself as a major multimedia publishing group, well-positioned to become the main player on the Italian market, with a strong international presence in Spain, by leveraging on the high quality and diversification of products in the dailies, web, television, magazines and sporting events segments.

in the section NOTICES AND DOCUMENTS / PRESS RELEASES