Eagle Football Group : PRESS RELEASE

About this update from Eagle Football Group

Lyon, 10 March 2026 – 10.00 pm Eagle Football Group SA (the “Company”), following consultation with its Board of Directors, and in accordance with applicable disclosure requirements, wishes to clarify the scope of the agreement dated 7 July 2025 (the "Letter Agreement") among Ares Capital Corporation (as Agent for the Noteholders) and Ms. Michele Kang as creditors and stakeholders of Eagle Football Holdings Bidco Limited, EFG's majority shareholder ("Eagle BidCo"), and Eagle Bidco. This clarification also aims at avoiding any confusion which certain allegations made recently by John Textor in respect of this Letter Agreement may have created. The Letter Agreement was executed in the context of very serious difficulties to which EFG was being confronted. On 24 June 2025, the National Directorate of Management Control (the “DNCG”) decided to relegate the Olympique Lyonnais football club (“OL”) to Ligue 2 for financial reasons. As disclosed at the time, EFG was able to secure additional financing (provided mainly by existing Noteholders and Michele Kang through Eagle Bidco) in the amount of € 87 million, and a bank guarantee of €30 million counter-guaranteed by Ms. Michele Kang (the “Guarantee”). In addition, EFG's Board of Directors decided to carry out a rapid change in governance within the EFG group, acknowledging the forthcoming resignation of Mr. John Textor from his positions as CEO and director of EFG and the appointment of Ms. Michele Kang as CEO and Chair of EFG. The financial strengthening of EFG with the support of existing Noteholders and Ms. Michele Kang, and the change of governance, were able to convince the DNCG to overturn its decision, maintain OL in Ligue 1 and save the Company from a bleak future. The Letter Agreement was pursuing the easily understandable wish of its parties, before agreeing to commit substantial financial resources and time, for improved stability. The Letter Agreement applies as long as Ms. Michele Kang holds her position as CEO of EFG[1]. It reaffirms the above-mentioned Guarantee and provides certain undertakings between the parties designed to afford EFG and OL stability as they navigated this period of transition:Ares and Bidco would undertake (i) no sale process concerning EFG or its subsidiaries before 30 June 2026, and (ii) no action aimed at removing Ms. Michele Kang fro...

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