CTS Eventim : Annual Report 2025 including Financial Statement 2025 of CTS Eventim AG & Co. KGaA (oHV26 Annual Report 2025)

About this update from Cts Eventim Ag & Co. Kgaa

Annual Report 2025 Revenue EBITDA 1 EBITDA margin EBIT EBIT margin Earnings before taxes (EBT) Net result attributable to shareholders of CTS KGaA Earnings per share 3 , undiluted (= diluted) Retail ticket volume (in million) Number of employees 4 Of which temporary [Qty.] 177.9 5,329 (856) [EUR] 2.89 2025 [EUR'000] 3,079,295 578,184 18.8% 476,583 15.5% 584,042 19.0% 5,858 21,597 459,153 277,265 KEY GROUP FIGURES Adjusted EBITDA Adjusted EBITDA margin Non-recurring items 2 Amortisation and impairment resulting from purchase price allocation 2024 2023 2022 [EUR'000] [EUR'000] [EUR'000] 2,808,579 2,358,552 1,925,803 533,964 493,959 375,108 19.0% 20.9% 19.5% 440,493 402,324 314,419 15.7% 17.1% 16.3% 542,173 444,833 316,338 19.3% 18.9% 16.4% 8,210 -49,126 -58,770 17,953 30,749 10,015 523,588 409,104 341,197 318,867 274,641 203,748 [EUR] [EUR] [EUR] 3.32 2.86 2.12 [Qty.] [Qty.] [Qty.] 147.2 n/a n/a 5,164 4,060 3,503 (730) (525) (477) 1 EBITDA: Earnings before financial result, taxes, depreciation and amortisation, impairment and reversals 2 Detailed information of non-recurring items in chapter 3.2 Corporate management and 4.1.2 Earnings performance 3 Number of shares: 96 million 4 Number of employees at end of year (active workforce) CONTENT LETTER TO THE SHAREHOLDERS 1 REPORT OF THE SUPERVISORY BOARD 3 CTS EVENTIM SHARES 7 COMBINED MANAGEMENT REPORT 10 Preliminary statements 10 Explanation of corporate and organisational structure of CTS KGaA 10 Business and macroenvironment 11 Business operations and corporate structure 11 Corporate management 16 Research and development 17 Overview of the course of business 18 CTS Group: Earnings performance, financial position and cash flow 27 Earnings performance 27 Financial position 37 Cash flow 43 CTS KGaA: Earnings performance, financial position and cash flow 45 Earnings performance 45 Financial position 49 Cash flow 53 Appropriation of earnings by CTS KGaA 54 Dependency report for CTS KGaA 54 Risk and opportunity report 55 Structure and operation of the risk management system 55 Major risk areas 57 Opportunity management 69 Assessment of the Group's opportunity and risk exposure 71 Internal control system 73 Operational ICS 73 Accounting related ICS 74 Outlook 76 Future macroeconomic environment 76 Expected business performance 76 Expected cash flow 77 General assessment of the prospective development of the Group and CTS KGaA 78 Group sustainability statement 79 Introductory note 79 ESRS 2 General disclosures 79 E1: Climate Change 101 E5: Resource use and circular economy 120 EU Taxonomy 127 S1: Own workforce 130 S2: Workers in the value chain 145 S4: Consumers and end-users 152 G1: Business conduct 163 Appendix to the Group sustainability statement 172 Disclosures required under takeover law 177 Corporate Governance declaration 181 CONSOLIDATED FINANCIAL STATEMENTS 2025 183 Consolidated balance sheet 183 Consolidated income statement 185 Consolidated statement of comprehensive income 186 Consolidated statement of changes in equity 187 Consolidated cash flow statement 188 Notes to the consolidated financial statements 189 INDEPENDENT AUDITOR'S REPORT FOR THE GROUP 286 ASSURANCE REPORT IN RELATION TO THE GROUP SUSTAINABILITY STATEMENT 295 FINANCIAL STATEMENTS OF CTS KGaA 2025 301 Balance sheet of CTS KGaA 301 Income statement of CTS KGaA 303 Notes to the financial statements 304 INDEPENDENT AUDITOR'S REPORT FOR CTS KGaA 324 Forward-looking statements 332 Contact 333 LETTER TO THE SHAREHOLDERS Ladies and gentlemen, Klaus-Peter Schulenberg Chief Executive Officer In the 2025 financial year, CTS EVENTIM once again successfully continued its international growth trajectory. For the first time in the company's history, consolidated revenue exceeded the EUR 3 billion mark. This represents another important milestone in our corporate development and further strengthens our position as one of the world's leading providers of ticketing and live entertainment. This growth is driven, among other factors, by the consistent scaling of our international platform. We continue to invest in technology, in the performance of our systems, and in expanding our global network of promoters, artists, and partners. At the same time, we are benefiting from the sustained high demand for live experiences. Concerts, festivals, and sporting events remain a central part of cultural life worldwide - forming the foundation for the longterm momentum of our business. A key strategic focus is the technological advancement of our organisation. With our transformation programme Amplify, we are purposefully strengthening our technology organisation and aligning it consistently with the next phase of growth and scaling for our company. Our goal is to develop innovations even faster, roll them out internationally, and further enhance our platform from a technological perspective. Data and artificial intelligence play a central role in this context. Our systems already process large volumes of data across the entire live entertainment value chain - from demand analysis and marketing to new forms of fan interaction. Modern AI technologies open up additional opportunities to leverage this data even more effectively and to develop new applications. Our ambition is to systematically integrate this technological potential into our platform and thereby create additional value for promoters, artists, and fans. In the Live Entertainment segment, our international promoter group EVENTIM LIVE remains a core pillar of our business. It brings together numerous established promoters across Europe and continues to grow in North America and Asia. Its internationally oriented structure enables tours, festivals, and other live formats to be planned and delivered across multiple markets. This creates a powerful international framework for touring activities for artists and their teams, while CTS EVENTIM further strengthens its role across the live entertainment value chain. At the same time, we are consistently expanding our venue business - with a clear focus on the long-term operation of modern arenas. A flagship project is ARENA MILANO, whose completion entered its final phase in 2025. The arena was opened in early 2026 on schedule for the Milano Cortina Olympic and Paralympic Winter Games. It already set new standards for event and hospitality concepts during the Games. Subsequently, the arena will be further developed to establish itself as Italy's largest, most innovative, and most sustainable multi-purpose venue for live entertainment and major sporting events, generating additional high-value synergies across our ticketing and live entertainment activities. We are also continuing to expand our market position internationally. The integration of the international ticketing companies acquired in recent years is progressing as planned, strengthening both our global network and our technological platform. At the same time, we are setting strategic priorities in key growth markets. This includes, among other initiatives, the expansion of our business in the United States, one of the largest live entertainment markets worldwide. In collaboration with a local partner, we are the official ticketing provider for the Olympic and Paralympic Games Los Angeles 2028. This project offers us the opportunity to demonstrate our technological expertise at a major global event and to leverage this momentum for further growth in the market. The development of recent years clearly shows that live entertainment is a globally growing market with long-term potential. CTS EVENTIM boasts a powerful combination of international market reach, technological innovation, and long-standing partnerships within the industry. This enables us to identify opportunities at an early stage and to consistently capitalise on new growth potential. Our objective remains clear: we aim to further expand our role as one of the leading international providers of ticketing and live entertainment - for artists, for promoters and partners, as well as for millions of fans worldwide. Together with our dedicated team and our long-standing partners, we would like to thank you, our shareholders, for your trust. We look forward to continuing on this successful path together in the future. Yours sincerely, Klaus-Peter Schulenberg Chief Executive Officer EVENTIM Management AG, general partner of CTS Eventim AG & Co. KGaA REPORT OF THE SUPERVISORY BOARD Dr. Bernd Kundrun Chairman of the Supervisory Board REPORT OF THE SUPERVISORY BOARD OF CTS EVENTIM AG & CO. KGaA (HEREINAFTER: CTS KGaA OR COMPANY) ON THE ANNUAL FINANCIAL STATEMENTS, THE CONSOLIDATED FINANCIAL STATEMENTS AND THE COMBINED MANAGEMENT REPORT FOR THE COMPANY AND THE GROUP FOR THE FINANCIAL YEAR FROM 1 JANUARY 2025 TO 31 DECEMBER 2025. During the entire period under review, the Supervisory Board comprised Dr. Bernd Kundrun (Hamburg/Germany), Dr. Cornelius Baur (Munich/Germany) and Mr. Philipp Westermeyer (Hamburg/Germany). Dr. Juliane Schulenberg (Hamburg/Germany) was a member of the Supervisory Board from 1 January to 21 May 2025 and Ms. Wybcke Meier (Hamburg) since 21 May 2025. Dr. Kundrun chaired the Supervisory Board during the entire period under review with Dr. Baur serving as Vice Chairman. Both Dr. Kundrun and Dr. Baur were members of the Supervisory Board's Audit Committee, which was chaired by Dr. Baur. During the reporting period, the members of the Personnel and Nomination Committee comprised Dr. Juliane Schulenberg (chair and member until 21 May 2025), Dr. Kundrun and, since 21 May 2025, Philipp Westermeyer. Since 21 May 2025 the committee has been chaired by Dr. Kundrun. During the reporting year, the Supervisory Board fulfilled its responsibilities under the law, the Company's articles of association and rules of procedure. It was regularly, promptly, and extensively informed by the Executive Board of CTS KGaA's general partner, EVENTIM Management AG, Hamburg, Germany - (hereinafter: the "Management Board" or general partner) - both in writing and verbally, about all issues related to corporate planning and strategic development, about the course of business, and about the situation of the Group. The reports to the Supervisory Board also included information on the risk and opportunity situation and risk and compliance management at the Company. The Supervisory Board regularly provided the Management Board with advice concerning the management of the Company and monitored the management of the Company and the Group. It ensured itself that corporate governance at the Company was in compliance with the law and was involved in all decisions of fundamental importance for the Company. After thorough review and discussion, the Supervisory Board voted on the Management Board's reports and proposals for resolutions whenever required by law or by the provisions of the articles of association. Resolutions were also adopted by written procedure whenever necessary. During the reporting year, the Supervisory Board held a total of six in-person meetings, which were attended by all members of the Supervisory Board as well as the management. The Supervisory Board monitored the general business development of the company and its Group companies, among other things, based on the reports submitted by the Management Board. This monitoring focused particularly on the development of the planned key performance indicators for revenue and earnings, as well as the development of liquidity and the company's and Group's major projects. At its meeting on 24 March 2025, the Supervisory Board focused in particular on the audit of the annual and consolidated financial statements as of 31 December 2024. Two Supervisory Board meetings were held on 20 May 2025, focusing on the Annual Shareholders' Meeting the following day. At the inaugural meeting following the Annual Shareholders' Meeting, the Supervisory Board elected its Chairman and Deputy Chairman, as well as the members of its committees. At the meetings on 19 August 2025 (Mr. Westermeyer participated via video conference) and 13 November 2025, the Supervisory Board focused in particular on the company's respective quarterly financial statements. Where necessary, the Supervisory Board met without the Executive Management and, furthermore, coordinated internally whenever required. The Executive Management informed the Supervisory Board both during Supervisory Board meetings and, for example, in the case of matters of particular importance or high urgency, outside of these meetings. The Supervisory Board's Audit Committee met in person four times during the reporting period. All members of the committee attended each meeting. On 26 February 2025, a meeting was held to address the implementation of new regulatory requirements. At its meeting on 24 March 2025, the Audit Committee focused in particular on the company's individual and consolidated financial statements as of 31 December 2024. In the other meetings, the committee addressed the company's respective quarterly financial statements and regulatory matters. The Supervisory Board's Personnel and Nomination Committee met twice during the reporting period, with all members of the committee attending both meetings. At the meeting on 24 February 2025, the committee discussed the new remuneration system for the Management Board adopted by the Supervisory Board. At its second meeting on 5 April 2025, the Personnel and Nomination Committee proposed candidates to the Supervisory Board for election to the Supervisory Board by the Annual Shareholders' Meeting. At the Company's Annual Shareholders' Meeting held on 21 May 2025, KPMG AG Wirtschaftsprüfungsgesellschaft, Berlin, Hamburg branch office (hereinafter: auditor) was elected as the auditor of the annual financial statements and the consolidated financial statements as at 31 December 2025. The audit mandate was duly awarded by the Chairman of the Supervisory Board on behalf of all members of the Supervisory Board. At its meeting on 13 November 2025, the Supervisory Board's Audit Committee held detailed discussions with the auditor on the subject of the audit, the audit schedule, the audit scope, and key audit areas with respect to the audit of the annual financial statements and the consolidated financial statements as at 31 December 2025. The 2025 annual financial statements, the 2025 consolidated financial statements, and the combined management report were prepared by the general partner in compliance with the statutory regulations and were provided with unqualified audit opinions by the auditor. The Management Board submitted the financial statements and the combined management report to the Supervisory Board along with the corresponding audit reports in a timely manner. The Supervisory Board's Audit Committee examined the 2025 annual financial statements, the 2025 consolidated financial statements, the combined management report and the corresponding audit reports from the auditor, upon which it recommended that they be approved by the Supervisory Board at its meeting of 24 March 2026. At the Supervisory Board meeting held on 24 March 2026, the Supervisory Board and the Management Board held detailed discussions on the annual financial statements and the consolidated financial statements for 2025, the combined management report, and the general partner's proposal for appropriation of net profit. The Audit Committee and the Supervisory Board were able to confer with the auditors, who were also present at the meeting. The Supervisory Board has reviewed the annual financial statements, the consolidated financial statements, and the combined management report of the company and the group as of 31 December 2025, prepared by the Management Board, in accordance with § 171 (1) of the German Stock Corporation Act (AktG). The auditor audited the annual and consolidated financial statements and issued an unqualified audit opinion in each case. The Supervisory Board concurs with the auditor's findings regarding both the annual and consolidated financial statements. Based on the final results of its own review, the Supervisory Board raises no objections to the annual financial statements for the 2025 financial year, approves them, and recommends their adoption by the Annual Shareholders' Meeting. Furthermore, based on the final results of its own review, the Supervisory Board raises no objections to the consolidated financial statements and also approves them. The Supervisory Board has reviewed the proposal of the personally liable partner regarding the appropriation of retained earnings and concurs with it, as it considers it to be appropriate to the interests of the company and its shareholders. The remuneration report for the financial year 2025 pursuant to § 162 of the AktG was duly prepared by the Management Board and the Supervisory Board and was examined by the auditor. The note on the audit of the remuneration report was attached to the remuneration report. The general partner prepared a report on related parties in accordance with § 312 AktG for the financial year from 1 January to 31 December 2025. The report states that based on the circumstances known to the general partner at the time of undertaking legal transactions requiring disclosure, the Company had received adequate consideration in each case and that no measures requiring disclosure were either undertaken or omitted at the behest of, or in the interest of, related parties within the meaning of § 312 AktG during the financial year 2025. The auditor has reviewed the report on its relationships with affiliated companies and issued the following statement: "Based on our duly performed examination and assessment, we confirm that the factual statements contained in the report are correct, and the company's performance in the transactions listed in the report was not unreasonably high." The Supervisory Board also examined the report on related parties and has concurred with the audit findings. Based on the Supervisory Board's final review, it has no objections to the closing statements made by the general partner in the report. The Supervisory Board's activities during the reporting year included keeping abreast of the relevant publications to identify any changes or additions to the responsibilities of or requirements placed on Supervisory Board members and was adequately supported by the Company. The Supervisory Board and Audit Committee carry out self-assessments at regular intervals on how effectively they carry out their tasks. The efficiency of the activities of the Supervisory Board and the Audit Committee as well as the required independence from their members were confirmed in the last efficiency audit. No conflicts of interest as defined in the German Corporate Governance Code arose among the members of the Supervisory Board during the reporting year. On 13 November 2025, the Supervisory Board and the general partner issued their most recently updated joint declaration of compliance with the German Corporate Governance Code in accordance with § 161 AktG. The declaration was published on the Company's website at https://corporate.eventim.de/en/investor-relations/corporate-governance/ . The Supervisory Board would like to thank the Management Board and all Company employees worldwide for their great personal commitment, their ongoing commitment and their achievements in the financial year 2025. 24 March 2026 Dr. Bernd Kundrun Dr. Cornelius Baur Chairman Vice Chairman Wybcke Meier Philipp Westermeyer CTS EVENTIM SHARES Throughout 2025, European capital markets continued to operate in a challenging macroeconomic environment. While the European Central Bank responded to the economic slowdown with gradual interest rate cuts, geopolitical risks and trade tensions remained negative factors for market sentiment. Volatility in European stock markets declined slightly over the course of the year but remained above the long-term average. In this environment, investors increasingly favoured business models with high visibility, stable profitability, and sustainable growth potential. After a strong start to 2025, the CTS EVENTIM share price weakened considerably as the year progressed. However, the share price stabilised noticeably from the third quarter of 2025 onward. High volatility decreased, and the share price traded mostly sideways for the remainder of the year. Overall, the performance of CTS EVENTIM shares in 2025 lagged behind that of the MDAX. The benchmark index showed a sideways to slightly positive trend in the mid-single-digit percentage range throughout the year, while CTS EVENTIM shares exhibited a partially negative performance year-on-year and remained significantly corrected from their yearly highs. At the beginning of 2026, the capital market showed increased weakness in the software and technology-related sectors, driven by AI-related rotation effects and leading to further sector movements. CTS EVENTIM shares were also affected in the first weeks of fiscal year 2026, with the price moving sideways to slightly downwards, characterised primarily by profit-taking and a more selective risk appetite among investors. The continuous coverage by leading investment banks and the active involvement of the capital market underscore the sustained interest in the company and its strategic direction. Various analysts monitor CTS EVENTIM shares on an ongoing basis and issue their investment recommendations. Currently, recommendations are available from Baader Helvea, Bernstein SG, BNP Paribas, Berenberg, Deutsche Bank, DZ Bank, LBBW, Jefferies, J.P. Morgan, Kepler Cheuvreux, ODDO BHF, Redburn, SHR Alster Research, and UBS. Thirteen firms recommend buying the stock, and one recommends holding it. In fiscal year 2025, CTS KGaA presented itself to numerous international and national investors, thus continuing its intensive dialogue with the capital market. CTS KGaA will continue to maintain direct dialogue with all capital market participants in the future. In particular, the successful business model of the CTS Group and its sustained growth have continuously increased the awareness and interest of national and international investors in CTS KGaA. Further strengthening these excellent relationships will remain a key objective of CTS EVENTIM's investor relations strategy. Earnings per share 2025 2024 EUR 2.89 EUR 3.32 High (Xetra) 114.10 74.70 78.50 7,536,000,000 96,000,000 12,000,000 100.20 Low (Xetra) 59.10 Year-end-price (Xetra) 81.65 Market capitalisation (based on year-end-price) 7,838,400,000 Shares outstanding on 31.12. 96,000,000 Share capital after IPO 12,000,000 Type of shares No-par value ordinary bearer shares ISIN number DE 000 547 030 6 Symbol EVD First listed 01/02/2000 Stock exchange segment Prime Standard Indices MDAX; Prime All Share Sectoral index Prime Media THE CTS SHARE PRICE (1 JANUARY 2025 TO 12 MARCH 2026 - INDEXED) CHANGES IN COMPANY SHARES OR FINANCIAL DERIVATIVES RELATING TO SUCH SHARES ON THE PART OF THE MANAGEMENT BOARD AND SUPERVISORY BOARD MEMBERS During the reporting period, the following transactions were carried out by members of CTS KGaA's corporate bodies involving no-par-value bearer shares in the company. Name Position Transaction Date Number of shares Klaus-Peter Schulenberg (Chief Executive Officer)/ KPS Stiftung 1 Purchase 21/08/2025 60,000 Member of the Supervisory Philipp Westermeyer Board Purchase 26/08/2025 16,600 Member of the Executive Karel Dörner Board Purchase 01/09/2025 1,200 Dr. Cornelius Baur Member of the Supervisory Board Purchase 12/09/2025 1,151 1 Klaus-Peter Schulenberg holds shares in CTS KGaA through the KPS Stiftung. COMBINED MANAGEMENT REPORT PRELIMINARY STATEMENTS In addition to the annual financial statements for CTS Eventim AG & Co. KGaA, Munich (hereinafter: CTS KGaA) in accordance with the accounting legislation in the German Commercial Code (Handelsgesetzbuch - HGB), the Management Board has also prepared consolidated financial statements in accordance with International Financial Reporting Standards (IFRS), complying thereby with all IFRS and IFRIC interpretations as applicable in the European Union (EU) on the balance sheet date. The management report of CTS KGaA and the Group management report have been combined. The information contained in this combined management report relates to the financial situation and business development of the Group. These essentially also apply to CTS KGaA. Further information on the financial situation and business development of CTS KGaA as a standalone company is provided in separate sections of this report or is indicated as such by a reference to 'CTS KGaA'. EXPLANATION OF CORPORATE AND ORGANISATIONAL STRUCTURE OF CTS KGaA The organisational structure of CTS KGaA is as follows: EVENTIM Management AG, Hamburg, as general partner, is responsible for the management of CTS KGaA. EVENTIM Management AG is represented by its legal representatives. In addition to managing its own operating business, the most important tasks of CTS KGaA as the parent company include corporate strategy, risk management and financial management of the CTS Group. According to the articles of association, CTS KGaA as the parent company has its registered office in Munich; the administrative head office is located in Hamburg. BUSINESS AND MACROENVIRONMENT BUSINESS OPERATIONS AND CORPORATE STRUCTURE BUSINESS OPERATIONS AND SEGMENTS The CTS Group is one of the leading international providers of ticketing and live entertainment. As an integrated provider, the Group shapes the live experience in all its facets - as a ticketing provider, promoter, venue operator, and technology company. In close collaboration with both Group-owned and external promoters, artists and partners, the Group develops and delivers digital and in-person live experiences in more than 30 countries worldwide. With its powerful platforms, innovative technologies, and a deep passion for live culture, the Group creates unique experiences and strengthen cultural diversity. It supports cultural providers in unlocking their economic potential - so that culture can inspire audiences, connect people, and enable artists to make a living from their talent. The Group is structured into two strong segments: Ticketing and Live Entertainment. Across both business units, the CTS Group offers an integrated ecosystem that covers the entire value chain of the live entertainment industry - from planning and marketing to production and venue operation. This creates sustainable, scalable structures that benefit fans, artists, promoters, and partners alike. SEGMENT TICKETING The ticketing segment stands for technological excellence, reach, and customer proximity. Through high-performance software solutions, its own online shops, and partner networks, the CTS Group markets hundreds of millions of tickets annually - in-store, online, and via mobile devices - in Europe, North America, and South America. The solutions EVENTIM.Net, EVENTIM.Inhouse, EVENTIM.Tixx, EVENTIM.Light, and EVENTIM.Access, combined with extensive distribution channels, form a flexible, international system that provides promoters of all sizes with access to modern ticketing. With EVENTIM.Pass, a fully digital and secure ticket is offered that protects fans from unauthorised resale, ensures fair revenue and control for artists and promoters, and offers maximum user-friendliness. Intelligent technologies form the backbone of the ticketing system, ensuring performance, stability, and scalability -even during peak demand. AI-powered analytics enable more precise insights, dynamic pricing, targeted marketing, and real-time sales data. This results in personalised offers that delight fans and help promoters maximise their potential - for a seamless, convenient ticketing experience - anytime, anywhere. In the Ticketing segment, the Group operates not only in Germany but also in numerous international markets, including Belgium, Brazil, Bulgaria, Chile, Denmark, Finland, France, Israel, Italy, Canada, Croatia, the Netherlands, Norway, Austria, Peru, Poland, Portugal, Romania, Sweden, Switzerland, Slovenia, Spain, UK, Hungary and the USA. SEGMENT LIVE ENTERTAINMENT In the Live Entertainment segment, the CTS Group brings international stars and local artists to the stage - and supports up- coming talents in developing their careers. By planning, organising and implementing tours, festivals and special formats, countless unforgettable live moments are created every year for fans in Europe, North America and Asia. The CTS Group also operates some of Europe's most successful event venues, including the LANXESS arena in Cologne, the Waldbühne in Berlin, the Eventim Apollo in London and the K.B. Hallen in Copenhagen. With the ARENA MILANO, which has already been successfully commenced operations in preparation for the Milano Cortina 2026 Olympic Games and will in the future serve as a multi-purpose arena for live entertainment and major sporting events, a new generation of internationally relevant live venues is being created, setting benchmarks in technology, sustainability and hospitality. In the Live Entertainment segment, the CTS Group aims to strategically develop its portfolio of leading promoters and live venues. The cross-border structure creates sustainable synergies and consolidates its role as one of the leading drivers of the global live entertainment industry. In the Live Entertainment segment, the Group operates not only in Germany but also in Asia, Austria, Belgium, Denmark, Finland, France, Italy, the Netherlands, Norway, Poland, Romania, Spain, Sweden, Switzerland, the Czech Republic, the UK, and the USA. CORPORATE STRUCTURE In addition to CTS KGaA as parent Company, the consolidated financial statements also include all relevant subsidiaries. The CTS Group is managed on a decentralised basis to ensure a high degree of proximity to the market and a fast response to potential changes in the respective markets. This means that the subsidiaries have considerable discretion in all market and customer-related activities. The management and control structures as well as the renumeration system are compliant with statutory requirements and are managed centrally by CTS KGaA. CHANGES TO THE GROUP STRUCTURE In the 2025 reporting period, no material changes in the structure of the Group occurred. The following overview lists all companies included in the consolidated financial statements on a fully consolidated basis as at 31 December 2025: 700% 1009 zvclu+iu Light cmbH, Hamburg See?ctebAG.Zwich 100°4 123BiIIez SAS, Ivry-sur-Seine CMS Eventim France SAS, Ivry-sur-Seine FriendsTV S.r.I., Milan Viva Concerti S.r.I.. Milan 100 % 10096 EVENTIM LIVE INTERNATIONAL GmbH, Bremen Friends & partners S. o.A., Milan 1009 Vertigo S.r.I., Milan 80% Di and Gi S.r.I.. Lido di Camaiore 100% Tick & Live SAS, Ivry-sur-Seine Belgium Ticket SRL, Sint-Pieters-Leeuw Friends&Vivo Multimedia S, r, 1., Milan Arena C ampovolo S.r.I., Milan Terrgle Line Entertainment Non Arneilca Inc., New York 10096 EVLNTIM LIVE TOURING GmbH, Hamburg 51% Temple Live Enteriainment Ltd., Landon Buddy The Er Nonh wenca LLc, new York Eventim Live LIEA Ino.. Wi I mington Grizzly Touri ng LLC, Wilmington 55% Sabertooth Touring LLC, Wilmington MR Power {Association), Marmande 0 %*" G adget Music AG, Zurich ALL IN ONE Corrirnunication AG, Zurich 100% 100M 100 °fi. Fra und liches M arkating Service GmbH. Viann • I 100% Nova Music Entertainment GmbH, Mattersbu I Barracuda Holding CmbH. Vienna BIG TOURS S.L., Barcelona 100% Production Service Switzerlano AG, Zur"ch Dylan AG, Zunch Egg Barracuda Music Gmb H, Vienna 100% I 51 °1 EVEN^IM LIVE SOUTH KOREA LLC, Seoul 100% I EVENTIM LIVE IIA PTE. LTO Singapur 100% Gadget Operations AG, St. Gallen OpenAir it.Gallen AG, it. Gallen SummerDays Festival AG, St. Gallen 100°6 I 1OO% Racoon Live Entertainment GmbH, Fischamend 50.1 % _ Cule Concerts GmbH, Vienna Eventim Live Japan G.K., Tokyo LIVE VENTM RE GROUP LIMIT ED. Landon 100% Eventim Live UK Ltd, London Ulive P ortfo lio Ltd, London Gadget Events AG, St. Gallen Stars in down AG, Scnaffhausen Gadget Entertainment AG, Zurich 100% 6096 100°6 100% ClamLive Festival Gmb H, Klam BB Creations Limited, Bristol 100% USB Evenu Ltd, London 100°] Love Supreme Festival Ltd, London Brighton Boundary Holdings Ltd, London Sundown Festival Ltd, London 100°A gOA J00% AMAAP Venues Lld, London * Consolidatio n oased on contractual rig hts "* Control oased on majoñty of voting rights CORPORATE MANAGEMENT The corporate strategy of the Group is focused on sustained value growth for the Company. In order to manage the Group according to value-based principles, a system of performance indicators is used to measure the success of the Company's strategy. The key financial figures for assessing the value growth of the operating business at Group level and for each segment include sustained increase in revenue, adjusted EBITDA (Earnings before Interest, Taxes, Depreciation and Amortisation; EBITDA contains impairment and reversals of impairment losses) as well as EBIT (Earnings before Interest and Taxes; operating result). Adjusted EBITDA represents EBITDA as reported in the consolidated financial statements adjusted for non-recurring items. It is therefore particularly suitable for assessing the economic development of operating performance in the reporting period. Non-recurring items are material non-recurring effects or one-off items and result from certain non-recurring impairments, from the allocation of purchase prices for business acquisitions that are not classified as business combinations under IFRS 3, from one-off expenses and income incurred in connection with obtaining control over companies, which are not related to operating activities, as well as other significant one-off effects that are not directly related to the operating result of the reporting period. Non-recurring items are considered material if their individual impact exceeds 1% of the prior year's EBITDA or 0.5% of the prior year's balance sheet total. Adjusted EBITDA includes all special items not attributable to operating performance that exceed the aforementioned thresholds. Since 2025, the retail ticket volume is defined as the non-financial performance indicator for the Ticketing segment. The retail ticket volume includes all tickets sold through the Group - both through all Group-owned sales channels and through partner shops operated by the Group. This new non-financial performance indicator thus reflects the expanded range of services following the acquisition of See Tickets Group and adequately reflects the key business driver in the Ticketing segment. At the level of CTS KGaA, this metric is not considered a relevant management indicator. The management of CTS KGaA is based on the financial key performance indicators revenue, adjusted EBITDA and EBIT in accordance with the International Financial Reporting Standards (IFRS). As a non-financial performance indicator in the Ticketing segment and for CTS KGaA, the internet ticket volume has been defined as a key performance indicator until 2024, i.e. the number of tickets sold via the internet. RESEARCH AND DEVELOPMENT Due to its business model, the CTS Group does not pursue research and development in a narrow sense. There is, therefore, no separate disclosure of research and development expenses in the income statement. Nevertheless, EVENTIM's ticketing systems and high-reach retail platforms are continuously being developed to optimise functionality, performance, scalability, and security, and to meet the increasing demands of event promoters, sales partners, and end customers. A particular focus is placed on the further development of digital sales channels, the integration of additional sales channels, and ensuring high system availability even under peak load. Against the backdrop of rising consumer expectations and an increasingly differentiated fan experience, data-driven and AI-supported technologies are gaining further importance. These applications support, among other things, personalised offers and communication experiences along key touchpoints, as well as providing analytical decision-making tools for event promoters and partners. Data-based analysis, forecasting, and optimization capabilities are an integral part of the technological organization and are systematically incorporated into the further development of products, services, and business processes. Within the tech organisation, the transformation project "Amplify" was launched during the reporting year. The goal is to make the technological organisation even more agile, shorten development and decision-making processes, and further strengthen cross-functional collaboration. Amplify thus provides the structural and methodological framework for the consistent, scalable, and future-oriented development of technological capabilities. Another focus of the reporting year was the preparation for consolidating all technology and development units within EVENTIM Tech GmbH. In a future, more matrix-oriented organisational structure, international collaboration, resource allocation, and technological excellence are to be further strengthened, and development and innovation activities are to be coordinated even more efficiently. Particular emphasis is placed on the scalable application of leading and proven AI models for extensive automation and AI-supported optimisation of business processes. Services for software development are generally capitalised in the annual financial statements of CTS KGaA and in the consolidated financial statements, provided the requirements of the German Commercial Code (HGB) and IAS 38 are met. The capitalised software development services are depreciated linearly; the depreciation is generally broken down into the production costs of the services provided to generate revenue. During the year under review, investments of EUR 35,314 thousand were made in further developing the ticket distribution systems (previous year: EUR 24,739 thousand) and these were capitalised. During the year under review, the amortisation of capitalised development costs amounted to EUR 17,811 thousand (previous year: EUR 15,390 thousand). The number of employees in software development, operations, and professional services (e.g. IT Consulting and Technical Services) is 431 (previous year: 436). The CTS Group plans to continue making targeted investments in the further development of its technological platforms. In addition to functional enhancements, the focus will be on stability, scalability, modularization, and IT security to ensure the long-term performance of the ticketing and retail platforms, as well as consistently high-quality fan and customer experiences. OVERVIEW OF THE COURSE OF THE BUSINESS MACROECONOMIC CONDITIONS In its World Economic Outlook Update (January 2026), the International Monetary Fund (IMF) describes the global economy as generally robust, but characterised by diverging forces and increased downside risks. The IMF expects global real GDP growth of 3.3% for 2026 and 3.2% for 2027. Supportive factors identified by the IMF include technology-driven investment (including AI), generally favourable financing conditions, and the adaptability of the private sector; headwinds highlighted include trade policy uncertainties and geopolitical tensions. The IMF forecasts a further decline in the global inflation rate - from 4.1% (estimate for 2025) to 3.8% (2026) and 3.4% (2027). The IMF forecasts real GDP growth of 1.3% for the Eurozone in 2026 and 1.4% in 2027. The IMF attributes the overall subdued growth in the Eurozone to, among other things, persistent structural headwinds, a less significant impact from the recent technology-driven investment surge compared to other countries, and the lingering effects of higher energy prices on industry. For Germany, the IMF projects real GDP growth of -0.5% (2024), +0.2% (2025, estimate), +1.1% (2026), and +1.5% (2027). In the current economic outlook, business sentiment remains subdued: The ifo Business Climate Index (ifo Institute -Leibniz Institute for Economic Research) stood at 88.6 points in the most recently published monthly figure for February 2026 (previously 87.6 in January). According to the ifo Institute, both assessments of the current business situation and business expectations improved slightly in February. This marks the first signs of a cautious stabilisation, after the German economy had started the new year 'lacking momentum' in January. On the demand side, consumer indicators signal a fragile improvement at a low level: According to the GfK Consumer Climate Index powered by NIM (Nuremberg Institute for Market Decisions), consumers expect the consumer climate indicator to rise by 2.8 points to -24.1 points in February 2026. NIM cites the sharp increase in income expectations and a moderate rise in the propensity to buy as key drivers; the propensity to save remained almost unchanged compared to the previous month and stayed at a high level. NIM attributes the rise in income expectations, among other things, to the increase in the minimum wage on January 1, 2026, and reduced fears of inflation, but also emphasizes the vulnerability of sentiment to geopolitical tensions and a possible escalation of trade conflicts. INDUSTRY CONDITIONS PricewaterhouseCoopers (PwC), in its German Entertainment & Media Outlook 2025-2029, expects the German entertainment and media industry to continue growing at a structurally stabilised level, even after the pandemic-related catch-up effects. For the period 2024 to 2029, PwC forecasts average annual growth (CAGR) of 2.5%, reaching a market volume of EUR 126.1 billion in 2029. Indicators from other sectors also confirm a normalisation of dynamics after the strong recovery years. For example, the Central Association of the German Advertising Industry (ZAW) anticipates moderate growth in net advertising revenue for the German advertising market - one of the key drivers of the media sector - in 2025, driven primarily by digital advertising formats. For the live music segment, PwC projects revenues of EUR 2,653 million for 2025, representing growth of 2.8%. An increase to EUR 2,705 million is expected for 2026, with a growth rate of 1.9%. By 2029, revenues in the live music segment are projected to rise to EUR 2,784 million. The revenue structure remains clearly ticket-driven: Ticket revenues of approximately EUR 2.2 billion are forecast for 2029, while sponsorship revenues are expected to reach around EUR 567 million. Overall, the live entertainment segment thus demonstrates a structurally stable growth market. Following the exceptional catch-up effects of the immediate post-pandemic years, the industry is developing on a more sustainable, moderate growth path, supported by a stabilised demand for live experiences and progressive digitalisation in sales and marketing. Innovative technologies such as artificial intelligence (AI) continue to gain importance. AI-supported processes in data management, marketing, pricing and service contribute to increasing the economic efficiency of the industry, further improving the fan experience and creating personalised content and experiences. The increasing differentiation of offerings - ranging from basic tickets to exclusive VIP packages - also opens up additional growth potential. These developments create new opportunities for companies to address changing consumer behaviour in a targeted manner. For the ticketing industry, this results in a wide range of opportunities, from the data-driven optimization of offerings to the development of new business models. BUSINESS PERFORMANCE OF THE CTS GROUP In fiscal year 2025, the CTS Group continued its positive development and maintained its position as one of the world's leading providers in ticketing and live entertainment. With operations in Europe, North and South America, and Asia, the company has a broad international presence, characterised by its ticketing and live entertainment segments, which vary depending on the market. The year also saw major anniversaries celebrated at its signature festivals, Rock am Ring and Rock im Park. Both festivals have been among the defining beacons of the European festival scene for decades and underscore the Group's strong market position in the festival business. Revenue and earnings growth were supported by the targeted strengthening of the international portfolio. Although the acquisitions completed in previous years, particularly in Latin America, as well as through the integration of the See Tickets Group and France Billet, resulted in temporary integration costs, they had a positive impact on operational performance, expanding the Group's geographic reach and scaling capabilities. In fiscal year 2025, the "Amplify" transformation program was launched within the Product & Tech division. The program aims to structurally develop and harmonise the technological platform landscape, focusing on scalability, efficiency, and innovation in the ticketing business. In addition to standardising system architectures and further developing core product and data structures, Amplify also includes the enhanced integration of data-driven applications and AI-supported solutions to optimise processes, analytical capabilities, and product functionalities. Geopolitical uncertainties and macroeconomic conditions had no significant direct impact on business performance during the reporting year. The CTS Group addressed increased costs, particularly in personnel and infrastructure, through rigorous cost management and operational discipline. In parallel, significant milestones were achieved in the construction of the ARENA MILANO in 2025. Among other things, Europe's largest LED media facade of its kind was installed during the reporting year. At the time of preparation of the financial statements, the arena was commissioned on schedule and fully operational for the ice hockey competitions of the Milano Cortina 2026 Winter Olympics. The strategic focus on internationalization, technological excellence and operational efficiency continues to form the basis for sustainable growth and value creation within the CTS Group. KEY GROUP FIGURES Key financial Group figures are shown in the table below: Group earnings per share (EPS) decreased from EUR 3.32 to EUR 2.89 during the year under review. SEGMENT KEY FIGURES Segment revenue is reported after consolidation within the segments, but before consolidation between the segments. In the Ticketing segment revenue improved in the reporting period particularly due to a significant increase in the number of retail tickets and the inclusion of the See Tickets Group and France Billet with its subsidiaries for the entire year. The increase in adjusted EBITDA and EBIT in 2025 is also particularly due to a significant increase in the number of retail tickets in Germany and abroad and the inclusion of the See Tickets Group and France Billet with its subsidiaries for the entire year. Key financial figures in the Ticketing segment are shown in the table below: The retail ticket volume (non-financial key figure) increased by 30.7 million tickets to 177.9 million tickets, up from 147.2 million tickets in the previous year. The retail ticket volume includes all tickets sold through the Group, both through all Group-owned sales channels and through partner shops operated by the Group. The increase in retail ticket volume was in particular the result of presales for future concerts held by international top artists and the inclusion of the See Tickets Group and France Billet with its subsidiaries for the entire year. The increase in revenue in the Live Entertainment segment was driven by the high number of events and tours as well as and the inclusion of the See Tickets Group for the entire year. Adjusted EBITDA includes non-recurring items amounting to EUR 5,858 thousand relating to legal and consulting expenses in connection with arbitration proceedings. No corresponding adjustment was made in the previous year due to the absence of comparable special effects. Lower depreciation and amortisation compared to the previous year had a positive effect on EBIT. Key financial figures in the Live Entertainment segment are shown in the table below: GENERAL ASSESSMENT OF THE GROUP'S BUSINESS SITUATION The forecast published for the 2024 financial year was based on the assumption that the geopolitical crises would not have an increasing impact on economic developments and that, consequently, planning certainty would be ensured for promoters and artists. The qualifications of the changes in the key figures compared to the previous year used in the comparative forecast were given in the grading "at prior- year's level/insignificant", "moderate", "significant", "substantial". Target/actual comparison for the forecast for financial year 2025: Forecast Group interim report Group Quarterly Statement (Annual Report 2024) 30 Jun 2025 30 Sept 2025 Actual 2025 vs 2024 CTS Group Revenue Moderately higher Moderately higher Moderately higher Moderately higher (+10%) Adjusted EBITDA Moderately higher Moderately higher Moderately higher Moderately higher (+8%) EBIT Moderately higher Moderately higher Moderately higher Moderately higher (+8%) Segment Ticketing Revenue Moderately higher Moderately higher Moderately higher Moderately higher (+11%) Adjusted EBITDA Moderately higher Moderately higher Moderately higher Moderately higher (+9%) EBIT Moderately higher Moderately higher Moderately higher Moderately higher (+10%) Retail ticket volume Significantly higher Significantly higher Significantly higher Significantly higher (+20%) Segment Live Entertainment Revenue on prior-year level on prior-year level on prior-year level Moderately higher (+9%) Adjusted EBITDA on prior-year level on prior-year level on prior-year level on prior-year level (+4%) EBIT on prior-year level on prior-year level on prior-year level on prior-year level (+0%) Target/actual comparison for the forecast of CTS KGaA for financial year 2025: Forecast Group interim report Group Quarterly Statement (Annual Report 2024) 30 Jun 2025 30 Sept 2025 Actual 2025 vs 2024 CTS KGaA 1 Revenue on prior-year level on prior-year level on prior-year level on prior-year level (+4%) Adjusted EBITDA on prior-year level on prior-year level on prior-year level on prior-year level (+3%) EBIT on prior-year level on prior-year level on prior-year level on prior-year level (+1%) 1 Revenue, adjusted EBITDA and EBIT remain the financial key figures of CTS KGaA according to International Financial Reporting Standards (IFRS) CTS GROUP SHARES PERFORMANCE Throughout 2025, European capital markets continued to operate in a challenging macroeconomic environment. While the European Central Bank responded to the economic slowdown with gradual interest rate cuts, geopolitical risks and trade tensions remained negative factors for market sentiment. Volatility in European stock markets declined slightly over the course of the year but remained above the long-term average. In this environment, investors increasingly favoured business models with high visibility, stable profitability, and sustainable growth potential. After a strong start to 2025, the share price of CTS Group weakened considerably as the year progressed. However, the share price stabilised noticeably from the third quarter of 2025 onward. High volatility decreased, and the share price traded mostly sideways for the remainder of the year. Overall, the performance of CTS Group shares in 2025 lagged behind that of the MDAX. The benchmark index showed a sideways to slightly positive trend in the mid-single-digit percentage range throughout the year, while CTS Group shares exhibited a partially negative performance year-on-year and remained significantly corrected from their yearly highs. At the beginning of 2026, the capital market showed increased weakness in the software and technology-related sectors, driven by AI-related rotation effects and leading to further sector movements. CTS Group shares were also affected in the first weeks of fiscal year 2026, with the price moving sideways to slightly downwards, characterised primarily by profit-taking and a more selective risk appetite among investors. The continuous coverage by leading investment banks and the active involvement of the capital market underscore the sustained interest in the company and its strategic direction. Various analysts monitor CTS Group shares on an ongoing basis and issue their investment recommendations. Currently, recommendations are available from Baader Helvea, Bernstein SG, BNP Paribas, Berenberg, Deutsche Bank, DZ Bank, LBBW, Jefferies, J.P. Morgan, Kepler Cheuvreux, ODDO BHF, Redburn, SHR Alster Research, and UBS. Thirteen firms recommend buying the stock, and one recommends holding it. In fiscal year 2025, CTS KGaA presented itself to numerous international and national investors, thus continuing its intensive dialogue with the capital market. CTS KGaA will continue to maintain direct dialogue with all capital market participants in the future. In particular, the successful business model of the CTS Group and its sustained growth have continuously increased the awareness and interest of national and international investors in CTS KGaA. Further strengthening these excellent relationships will remain a key objective of CTS Group's investor relations strategy.

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