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Interim financial report 2026

Jul 23, 2026 at 11:17 AM UTC · MarketScreener

2026 INTERIM FINANCIAL REPORT

CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS AT 30 JUNE 2026

- CONSOLIDATED STATEMENT OF FINANCIAL POSITION 3
- INCOME STATEMENT 4
- CASH FLOW STATEMENT 5
- STATEMENT OF CHANGES IN EQUITY 6
- NOTES TO THE ANNUAL FINANCIAL STATEMENTS

Note 1 Significant accounting policies and basis of consolidation 7 Note 2 Information on consolidation 8 Note 3 Segment reporting 11 Note 4 Balance sheet information 12 Note 5 Income statement information 18 Note 6 Off-balance sheet commitments 19 Note 7 Transactions with related parties 20

INTERIM MANAGEMENT REPORT

- MATERIAL EVENTS AND OPERATING HIGHLIGHTS OF THE 2026 FIRST HALF 21
- SUBSEQUENT EVENTS 26
- OUTLOOK AND UNCERTAINTIES 26

RESPONSIBILITY STATEMENT 27

STATUTORY AUDITORS' REPORT 28

Translation disclaimer: This document is a free translation of the original French language version of the interim financial report (rapport semestriel) provided solely for the convenience of English-speaking readers. This report should consequently be read in conjunction with, and construed in accordance with French law and French generally accepted accounting principles. While all possible care has been taken to ensure that this translation is an accurate representation of the original French document, this English version has not been audited by the company's statutory auditors and in all matters of interpretation of information, views or opinions expressed therein, only the original language version of the document in French is legally binding. As such, the translation may not be relied upon to sustain any legal claim, nor be used as the basis of any legal opinion and GL events expressly disclaims all liability for any inaccuracy herein.

>CONSOLIDATED STATEMENT OF FINANCIAL POSITION - BALANCE SHEET

(€ thousands)	Notes	30/06/2026	31/12/2025
Goodwill	4.1	844,708	827,651
Other intangible assets	4.1	69,314	43,091
IFRS 16 concessions and leases	4.1	597,777	549,583
Land and buildings	4.2	371,868	348,169
Other tangible fixed assets	4.2	74,894	68,649
Rental equipment assets	4.2	155,256	155,526
Financial assets	4.3	64,426	62,234
Equity-accounted investments	4.4	4,603	3,548
Deferred tax assets		47,614	37,141
NON-CURRENT ASSETS		2,230,458	2,095,591
Inventories & work in progress		62,081	54,421
Trade receivables	4.5	356,286	268,194
Other receivables	4.6	369,499	267,808
Cash and cash equivalents	4.10	626,635	579,986
CURRENT ASSETS		1,414,500	1,170,408
TOTAL		3,644,958	3,266,000

(€ thousands)	Notes	30/06/2026	31/12/2025
Share capital	4.7	119,931	119,931
Reserves and additional paid in capital	4.7	589,576	532,838
Translation adjustments	4.7	(213,639)	(256,314)
Net profit		53,834	81,736
Shareholders' equity attributable to the Group		549,703	478,191
Non-controlling interests		146,664	152,807
TOTAL SHAREHOLDERS' EQUITY		696,367	630,998
Provisions for retirement severance payments	4.8	14,199	13,884
Deferred tax liabilities		12,483	8,133
Financial debt	4.10	836,167	750,824
Non-current IFRS 16 debt on concessions and leases	4.10	589,024	540,082
NON-CURRENT LIABILITIES		1,451,873	1,312,924
Current provisions for contingencies and expenses	4.9	19,329	17,152
Current financial debt	4.10	298,256	296,299
Current IFRS 16 debt on concessions and leases	4.10	50,475	47,418
Current bank facilities and overdrafts	4.10	5,024	4,141
Advances and instalments		85,121	55,913
Trade payables		436,689	362,892
Tax and employee-related liabilities		221,067	199,214
Other liabilities	4.11	380,757	339,048
CURRENT LIABILITIES		1,496,719	1,322,078
TOTAL		3,644,958	3,266,000

(€ thousands)		Notes	30/06/2026	30/06/2025
Revenue		3	965,329	886,658
Purchases consumed		5.1	(44,941)	(43,043)
External charges		5.1	(520,499)	(472,195)
Taxes and similar payments (other than on income)			(12,785)	(10,327)
Personnel expenses and employee profit sharing			(210,920)	(190,280)
Depreciation, amortisation and provisions			(67,317)	(59,842)
Other current operating income		5.2	7,960	3,493
Other current operating expenses		5.2	(488)	(2,469)
Operating expenses			(848,991)	(774,662)
	CURRENT OPERATING INCOME	3	116,338	111,996
Other operating income and expenses		5.3	(2,495)	(5,862)
OPERATING PROFIT			113,843	106,134
Net interest expense		5.4	(24,474)	(24,458)
Other financial income and expenses		5.4	(1,512)	(1,251)
	NET FINANCIAL EXPENSE	5.4	(25,986)	(25,709)
EARNINGS BEFORE TAX			87,857	80,425
Income tax		5.5	(25,059)	(21,939)
NET PROFIT /(LOSS) OF CONSOLIDATED COMPANIES			62,798	58,486
Share of income from equity affiliates		4.4	74	240
NET PROFIT / (LOSS)			62,872	58,726
Attributable to non-controlling interests			9,038	8,447
NET PROFIT / (LOSS) ATTRIBUTABLE TO GROUP SHAREHOLDERS			53,834	50,279

(€ thousands) Notes	30/06/2026	30/06/2025
NET PROFIT / (LOSS)	62,872	58,726
Hedging instruments	(1,548)	1,078
Other comprehensive income that may be recycled subsequently to profit and loss	(1,548)	1,078
Actuarial gains and losses	(167)	632
Gains and losses from the translation of financial statements of foreign operations	46,680	(48,378)
Other comprehensive income that may not be recycled subsequently to profit and loss	46,512	(47,746)
TOTAL COMPREHENSIVE INCOME	107,836	12,057
Total comprehensive income attributable to non-controlling interests	13,047	(2,772)
Comprehensive income attributable to equity holders of the parent	94,789	14,829

(€ thousands)	30/06/2026	30/06/2025	31/12/2025
Cash and cash equivalents at the beginning of the year	575,844	529,893	529,893
CASH FLOWS FROM OPERATING ACTIVITIES
Net profit	53,834	50,279	81,736
Amortisation, depreciation and provisions	37,253	34,334	75,444
Other non-cash income and expenses	3,937	6,021	3,788
Gains and losses on disposals of fixed assets	1,041	60	4,248
Non-controlling interests in consolidated subsidiaries' net income	9,038	8,447	9,621
Share of income from equity affiliates	(74)	(240)	(611)
Cash flow	105,029	98,901	174,227
Cost of net financial debt	24,474	24,458	46,200
Tax expense (including deferred taxes)	25,059	21,939	35,269
Cash flow before net interest expense and tax	154,562	145,297	255,696
Income tax payments	(35,564)	(6,270)	(27,121)
Change in inventories	(8,603)	(750)	(1,610)
Change in trade receivables	(52,154)	(79,363)	(61,756)
Change in trade payables	(8,486)	41,325	66,787
Other changes	1,229	(5,946)	9,634
Change in working capital requirements	(68,014)	(44,735)	13,055
Net cash provided by (used in) operating activities (A)	50,984	94,292	241,630
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of intangible fixed assets	(3,014)	(5,023)	(9,870)
Acquisition of tangible assets and capitalised rental equipment	(27,486)	(23,540)	(73,536)
Disposals of tangible and intangible assets	36	1,124	2,391
Investment grants received	277	15	262
Acquisitions of financial assets	(3,312)	(1,697)	(508)
Disposal of investments and other non-current assets	786		539
Net cash flows from the acquisition and disposal of subsidiaries	(48,189)	(17,473)	(22,334)
Net cash provided by (used in) investing activities (B)	(80,901)	(46,595)	(103,056)
NET CASH FROM FINANCING ACTIVITIES
Dividends paid to shareholders of the parent			(26,398)
Dividends paid to non-controlling shareholders of consolidated companies	(748)	(4,999)	(7,411)
Other changes in equity	(3,096)		(1,142)
Change in borrowings	86,449	934	8,714
Cost of net financial debt	(24,474)	(24,458)	(46,200)
Net cash provided by (used in) financing activities (C)	58,131	(28,522)	(72,438)
Effect of exchange rate fluctuations on cash (D)	17,553	(19,988)	(20,184)
Net change in cash & cash equivalents (A + B + C + D)	45,766	(813)	45,951
Cash and cash equivalents at year-end	621,610	529,080	575,844

(€ thousands) Share capital		Additional paid-in capital	Reserves	Comprehensive income	Total Group		controlling	Total
Equity at 31/12/2024 119,931		273,447	29,365	37,535	460,279		146,841	607,120
Capital increase 0		0		0	0			0
Comprehensive income appropriation for N-1			37,535	(37,535)	0			0
Distribution of dividends			(26,398)		(26,398)		(7,320)	(33,719)
Cancellation of treasury shares			(2,993)		(2,993)			(2,993)
Stock option expenses			5,462		5,462			5,462
Change in ownership interests in subsidiaries			(25,885)		(25,885)		16,782	(9,103)
Other changes			3,339	0	3,339		(565)		2,775
Comprehensive income				64,387	64,387		(2,932)		61,455
Equity at 31/12/2025	119,931	273,447	20,426	64,387	478,191		152,807		630,998
Capital increase					0			0
Comprehensive income appropriation for N-1		64,387		(64,387)	0			0
Distribution of dividends		(29,983)			(29,983)	(7,109)		(37,092)
Cancellation of treasury shares		(3,146)			(3,146)			(3,146)
Stock option expenses		3,057			3,057			3,057
Change in ownership interests in subsidiaries		4,712			4,712	(12,423)		(7,711)
Other changes			2,083		2,083		342		2,425
Comprehensive income				94,789	94,789		13,047		107,836
Equity at 30/06/2026	119,931	273,447	61,536	94,789	549,703		146,664		696,367

Attributable to the Group

Non-

interests

NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS NOTE 1 - SIGNIFICANT ACCOUNTING POLICIES AND BASIS OF CONSOLIDATION

The Board of Directors, at its meeting held on 22 July 2026, reviewed and approved the condensed consolidated interim financial statements as of 30 June 2026.

The interim consolidated financial statements of GL events and its subsidiaries ("The Group") were prepared in compliance with IAS 34. As condensed financial statements, they do not include all information required by IFRS to produce annual financial statements and as such must be read in conjunction with the consolidated annual financial statements of the Group prepared in accordance with IFRS (International Financial Standards), as adopted by the European Union on 31 December 2025.

The accounting methods applied are identical to those used to prepare the consolidated financial statements for the period ended 31 December 2025, with the exception of corporate income tax.

The tax expenses are calculated for the interim consolidated financial statements by applying to profit for the period the average income tax rate estimated for the fiscal year in progress for each entity or the tax group.

The Group adopted the following standards, amendments and interpretations which entered into force on 1 January 2026:

Amendment to IFRS 9 and IFRS 7: Classification and Measurement of Financial Instruments This text has no impact on the Group's consolidated financial statements.
The Group has not opted to apply in advance standards and interpretations in issue not yet mandatory for periods beginning on or after 1 January 2026.
Global Minimum Tax
On 1 January 2024, the global minimum tax (GMT) on multinationals came into force in the European Union. This levy taxes the profits of companies at a minimum rate of 15%, payable by the holding company, provided they are owned by a Group with annual revenues of over €750 million.
IAS 34 has been applied to the interim financial statements on the basis of legislation published in the countries where the Group operates, and includes the global minimum tax charge.
IAS 29 - Financial Reporting in Hyperinflationary Economies
Since April 2022, Turkey has been considered as a hyperinflationary economy based on IAS 29 criteria. Based on this standard, the income statements of Turkish companies for H1 2026 were translated at the closing rate vs. the average rate, and non-cash assets and liabilities were remeasured according to the consumer price index.
IFRS 16 - LEASES
The standard consists of restating as depreciable (right-of-use) assets and financial liabilities, all leases with a term of more than 12 months and where the underlying asset has a value of more than €5,000. Its application, for GL events Group, concerns mainly real estate leases and public service delegations (délégations de service public) and concessions for Venues.
The terms adopted for the lease/concession agreements in progress were as follows:
- Concession agreements: remaining term of the agreements,
Commercial leases with a fixed term: the remaining lease term up to the end of the fixed period, with renewal options taken into account where the remaining lease term is less than five years in order to determine a lease term of at least five years.

For contracts with residual terms of less than 5 years with an extension option by the lessee, an extension period is restated for IFRS 16.

The variable portion of these payments and related services are not included in the restated amount.

In accordance with the standard, the discount rates adopted for the measurement of assets are those that the Group companies would have adopted individually by taking into account the maturity of the leases and the standard local financing rates (2% to 10%).

For the record, this standard had no impact on the calculation of the financial covenants. Loan agreements provide that the financial ratios must be calculated excluding IFRS 16-related debt.

NOTE 2 CONSOLIDATED COMPANIES

Changes in the Group's structure in the year impacting the consolidated financial statements were as follows:

Companies	Business	Country	Date of consolidation or deconsolidation
Antares	Venues	France	Acquisition · Fully consolidated as of 1 April 2026
Arena Grand Paris	Venues	France	Acquisition · Fully consolidated as of 1 April 2026
Centre culture et Congrès de Montluçon	Venues	France	Acquisition · Fully consolidated as of 1 April 2026
Docks Café	Venues	France	Acquisition · Fully consolidated as of 1 April 2026
La Chaudronnerie	Venues	France	Acquisition · Fully consolidated as of 1 April 2026
Le Galaxie	Venues	France	Acquisition · Fully consolidated as of 1 April 2026
Le Millesium II	Venues	France	Acquisition · Fully consolidated as of 1 April 2026
Le Phare Chambery	Venues	France	Acquisition · Fully consolidated as of 1 April 2026
Le Pin Galant	Venues	France	Acquisition · Fully consolidated as of 1 April 2026
Les Arenes de Metz	Venues	France	Acquisition · Fully consolidated as of 1 April 2026
Les espaces culturels du Silo d'arenc II	Venues	France	Acquisition · Fully consolidated as of 1 April 2026
Mach 36	Venues	France	Acquisition · Fully consolidated as of 1 April 2026
Macon evenement	Venues	France	Acquisition · Fully consolidated as of 1 April 2026
Narbonne Arena	Venues	France	Acquisition · Fully consolidated as of 1 April 2026
Pleyel Gestion	Venues	France	Acquisition · Fully consolidated as of 1 April 2026
Red Bus	Venues	France	Acquisition · Fully consolidated as of 1 April 2026
Sceneo	Venues	France	Acquisition · Fully consolidated as of 1 April 2026
Seine Zenith Rouen	Venues	France	Acquisition · Fully consolidated as of 1 April 2026
S-PASS Developpement	Venues	France	Acquisition · Fully consolidated as of 1 April 2026
S-PASS Théatre Spectacles Evenements	Venues	France	Acquisition · Fully consolidated as of 1 April 2026
Sté exploit Parc Exposition Le capitole	Venues	France	Acquisition · Fully consolidated as of 1 April 2026
Zenith de Dijon	Venues	France	Acquisition · Fully consolidated as of 1 April 2026
Zenith de Limoges	Venues	France	Acquisition · Fully consolidated as of 1 April 2026
Zenith de Nancy	Venues	France	Acquisition · Fully consolidated as of 1 April 2026
Zenith de Strasbourg	Venues	France	Acquisition · Fully consolidated as of 1 April 2026
Centre de Congrès de Saint Etienne	Venues	France	- · Deconsolidated on 30 June 2026

Because changes in Group structure have not had any material effect on the consolidated financial statements, no pro forma information has been provided in consequence.

Companies

Location of registration or incorporation

Company

trade registration number

Controlling interest (%)

Ownership interest (%)

2026 2025

Parent company GL events	Lyon	351571757
French subsidiaries
Adecor	Chilly Mazarin	378 230 569	100.00	100.00	100.00	100.00	FC
Altitude Expo	Mitry Mory	379 621220	100.00	100.00	100.00	100.00	FC
Antares (1)	Le Mans	414 231639	100.00		100.00		FC
Arena Grand Paris (1)	Bobigny	951412 543	100.00		100.00		FC
Auvergne Evénements	Cournon d'Auvergne	449 076 900	72.12	72.12	72.12	72.12	FC
B4 event	Lyon	752 638 593	100.00	100.00	100.00	100.00	FC
Bleu Royal	Paris	750 800 625	100.00	100.00	100.00	100.00	FC
Food Events (ex Brasserie du Lou) (2)	Lyon	510 029 648	90.89	76.89	90.89	76.89	FC
Brelet Centre Europe	Strasbourg	437 742 059	100.00	100.00	100.00	100.00	FC
Caen Evenements	Caen	844 876 367	100.00	100.00	100.00	100.00	FC
Centre culture et Congrès de Montluçon (1)	Montluçon	831087 242	100.00		100.00		FC
Créatifs	Live	389 120 049	100.00	100.00	100.00	100.00	FC
Décorama	Chilly Mazarin	612 036 996	100.00	100.00	100.00	100.00	FC
Docks Café (1)	Le Havre	420 834 848	100.00		100.00		FC
Euro Négoce	Live	382 693 745	100.00	100.00	100.00	100.00	FC
Expo Cinq	Venues	482 354 495	100.00	100.00	100.00	100.00	FC
Fonction Meubles	Chilly Mazarin	378 230 676	100.00	100.00	100.00	100.00	FC
GL events Audiovisual & Power	Brignais	317 613 180	100.00	100.00	100.00	100.00	FC
GL events Bake	Lyon	942 204 777	75.00	75.00	75.00	75.00	FC
GL events Cité Centre de Congrès Lyon New Co	Lyon	840 400 188	100.00	100.00	100.00	100.00	FC
GL events Equestrian Sport (2)	Lyon	453 100 562	91.13	76.85	91.13	76.85	FC
GL events Exhibitions Opérations	Lyon	380 552 976	100.00	100.00	100.00	100.00	FC
GL events GPE	Lyon	853 712 651	100.00	100.00	100.00	100.00	FC
GL events Live	Brignais	378 932 354	100.00	100.00	100.00	100.00	FC
GL events Live Côte d'Azur	Mouans Sartoux	403 427 776	100.00	100.00	100.00	100.00	FC
GL events Live Grand Ouest	Lyon	878 975 002	100.00	100.00	100.00	100.00	FC
GL events Montreuil	Montreuil	919 059 006	100.00	100.00	100.00	100.00	FC
GL events Parc expo Metz Métropole	Metz	493,152 318	100.00	100.00	100.00	100.00	FC
GL events Scarabée	Roanne	499 138 238	100.00	100.00	100.00	100.00	FC
GL events SI	Brignais	480 214 766	100.00	100.00	100.00	100.00	FC
GL events Sport (2)	Lyon	450 511209	91.13	76.85	91.13	76.85	FC
GL events Support	Brignais	480 086 768	100.00	100.00	100.00	100.00	FC
GL events Venues	Lyon	495 014 524	100.00	100.00	100.00	100.00	FC
GL Exhibitions	Lyon	879 428 258	100.00	100.00	100.00	100.00	FC
GL Exhibitions Industrie	Lyon	879 104 248	100.00	100.00	100.00	100.00	FC
GL Mobilier	Brignais	612 000 877	100.00	100.00	100.00	100.00	FC
Hall Expo	Brignais	334 039 633	100.00	100.00	100.00	100.00	FC
Jaulin	Chilly Mazarin	335 187 605	100.00	100.00	100.00	100.00	FC
La Chaudronnerie (1)	Marseille	825 031107	100.00		100.00		FC
Le Galaxie(1)	Metz	885 013 052	80.00		80.00		FC
Le Millesium II (1)	Reims	853 246 205	80.00		80.00		FC
Le Phare Chambery (1)	Chambery	504 801986	100.00		100.00		FC
Le Pin Galant (1)	Paris	943 620 559	100.00		100.00		FC
Les Arenes de Metz (1)	Metz	442 236 089	100.00		100.00		FC
Les espaces culturels du Silo d'arenc II (1)	Marseille	903 454 114	100.00		100.00		FC
Live! by GL events	Paris	780 153 862	100.00	100.00	100.00	100.00	FC
Locabri	Brignais	304 453 160	100.00	100.00	100.00	100.00	FC
Lou Academy (2)	Lyon	844 349 464	90.89	76.89	90.89	76.89	FC
Lou Rugby(2)	Lyon	432 723 559	90.89	76.89	90.89	76.89	FC
Lou Support - Venues (2)	Lyon	844 374 751	90.89	76.89	90.89	76.89	FC
Mach 36 (1)	Châteauroux	908 402 639	80.00		80.00		FC
Macon evenement (1)	Mâcon	530 646 165	100.00		100.00		FC
Marseille Events	Marseille	938 861895	75.00	75.00	75.00	75.00	FC
Mobiwatt	Brignais	913 086 583	51.00	51.00	51.00	51.00	FC
Narbonne Arena (1)	Narbonne	848 508 909	100.00		100.00		FC
Orleans events	Orléans	919 004 150	100.00	100.00	100.00	100.00	FC
Pleyel Gestion (1)	Paris	810 050 898	100.00		100.00		FC
Polygone Vert	Brignais	320 815 236	100.00	100.00	100.00	100.00	FC
Pont Neuf Concept	Paris	899 941702	70.00	70.00	70.00	70.00	FC
Première Vision	Lyon	403 131956	100.00	100.00	100.00	100.00	FC
Profil	Lyon	378 869 846	100.00	100.00	100.00	100.00	FC
Red Bus (1)	Paris	817 604 481	100.00		100.00		FC
Reims Expo Congrès Events	Reims	842 522 351	100.00	100.00	100.00	100.00	FC
Restaurant du Palais Brongniart	Paris	831478 623	49.00	49.00	49.00	49.00	EM
Restaurant Palais Mutualité	Paris	842 298 606	50.00	50.00	50.00	50.00	EM
Saint Etienne	Saint Etienne	844 935 957	65.00	65.00	65.00	65.00	FC
Sceneo (1)	Boulogne-sur-mer	800 366 387	100.00		100.00		FC
Secil	Lyon	378 347 470	100.00	100.00	100.00	100.00	FC
Seine Zenith Rouen (1)	Rouen	841351463	39.00		39.00		EM
Sepel	Chassieu	954 502 357	46.25	46.25	46.25	46.25	FC
Sign'Expo	Gonesse	492 842 349	100.00	100.00	100.00	100.00	FC
Smart Manufacturing	Lyon	948 621412	100.00	100.00	100.00	100.00	FC
Sodem	Mesnil Simon	438 323 776	100.00	100.00	100.00	100.00	FC
Spaciotempo	Flixecourt	380 344 226	100.00	100.00	100.00	100.00	FC
S-PASS Developpement (1)	Paris	815 083 951	100.00		100.00		FC
S-PASS Théatre Spectacles Evenements (1)	Paris	500 745 187	100.00		100.00		FC
Stade de France - operating company	Lyon	943 713 750	100.00	100.00	100.00	100.00	FC
Stade de France - financial company	Lyon	951847 649	100.00	100.00	100.00	100.00	FC
Sté exploit Parc Exposition Le capitole (1)	Châlons-en-champagne	852 994 961	50.00		50.00		EM
Sté exploit. Centre Congrès Metz métropole	Metz	790 342 497	100.00	100.00	100.00	100.00	FC
Sté exploit. Centre Congrès St-Etienne (1)	Saint Etienne	488 224 718		100.00		100.00	FC
Sté exploit. Centre Congrès Valenciennes	Anzin	817 786 460	100.00	100.00	100.00	100.00	FC
Sté exploit. d'Amiens Mégacité	Amiens	518 869 011	100.00	100.00	100.00	100.00	FC
Sté exploit. de Parcs d'Exposition	Paris	398 162 263	100.00	100.00	100.00	100.00	FC
Sté exploit. Palais Brongniart	Paris	518 805 809	100.00	100.00	100.00	100.00	FC
Sté exploit. Maison de la Mutualité	Brignais	517 468 138	100.00	100.00	100.00	100.00	FC
Sté exploit. Polydome Clermont-Ferrand	Clermont-Ferrand	488 252 347	100.00	100.00	100.00	100.00	FC
Strasbourg Evenements	Strasbourg	384 911129	46.36	46.36	46.36	46.36	FC
The Ruck Hotel (2)	Lyon	909 343 667	90.89	76.89	90.89	76.89	FC
Toulouse Evenements	Toulouse	752 926 923	100.00	100.00	100.00	100.00	FC
Toulouse Expo	Toulouse	580 803 880	92.02	92.02	92.02	92.02	FC
Vachon	Gonesse	343 001772	85.00	85.00	85.00	85.00	FC
Zenith de Dijon (1)	Dijon	480 995 448	100.00		100.00		FC
Zenith de Limoges (1)	Limoges	914 311345	100.00		100.00		FC
Zenith de Nancy (1)	Nancy	421324 427	100.00		100.00		FC
Zenith de Strasbourg (1)	Strasbourg	497 643 577	100.00		100.00		FC

Companies

Location of registration

or incorporation

Controlling interest (%)

Ownership interest (%)

2026

2025

2026

2025

Foreign subsidiaries
Abidjan events	Abidjan	100.00	100.00	100.00	100.00	FC
Adors	Ankara	86.36	86.36	86.36	86.36	FC
Aganto	Newbury	100.00	100.00	100.00	100.00	FC
Aichi International Convention & Exhibition Center	Aichi	51.00	51.00	51.00	51.00	FC
Anhembi Convention Center	Sao Paulo	100.00	100.00	100.00	100.00	FC
Cabestan	Monaco	100.00	100.00	100.00	100.00	FC
CACLP	Shanghai	71.51	71.51	71.51	71.51	FC
Centro Convenciones Riesco Santiago	Santiago de Chile	100.00	100.00	100.00	100.00	FC
CIEC Union	Beijing	48.19	48.19	48.19	48.19	FC
Dogan	Johannesburg	83.84	83.84	83.84	83.84	FC
Espacio Ferial de Santiago	Santiago de Chile	100.00	100.00	100.00	100.00	FC
Fagga Promoçao de eventos	Rio de Janeiro	100.00	100.00	100.00	100.00	FC
Fashion Source	Shenzhen	47.67	47.67	47.67	47.67	FC
Field & Lawn	Broxburn	100.00	100.00	100.00	100.00	FC
Fisa	Santiago de Chile	60.00	60.00	60.00	60.00	FC
Flow Holding	Abu Dhabi	73.00	73.00	73.00	73.00	FC
Flow Solutions Air & Power	Abu Dhabi	73.00	73.00	73.00	73.00	FC
Foncière Lingotto	Turin	100.00	100.00	100.00	100.00	FC
Frame	Ankara	86.36	86.36	86.36	86.36	FC
GL events Asia	Hong Kong	100.00	100.00	100.00	100.00	FC
GL events Belgium	Brussels	100.00	100.00	100.00	100.00	FC
GL events Brazil Participacoes	Rio de Janeiro	100.00	100.00	100.00	100.00	FC
GL events Brussels	Brussels	85.00	85.00	85.00	85.00	FC
GL events Centro de Convençoes	Rio de Janeiro	100.00	100.00	100.00	100.00	FC
GL events Chili	Santiago de Chile	100.00	100.00	100.00	100.00	FC
GL events Convencoes Salvador	Salvador	100.00	100.00	100.00	100.00	FC
GL events PGS	Santiago de Chile	100.00	100.00	100.00	100.00	FC
GL events Doha	Qatar	100.00	100.00	100.00	100.00	FC
GL events Empredimentos Immobiliaro	Rio de Janeiro	100.00	100.00	100.00	100.00	FC
GL events EvenStar	Wilmington	51.00	51.00	51.00	51.00	FC
GL events Exhibitions China	Hong Kong	79.45	79.45	79.45	79.45	FC
GL events Exhibitions Shanghai	Shanghai	79.45	79.45	79.45	79.45	FC
GL events Exhibitions Fuarcilik	Ankara	100.00	100.00	100.00	100.00	FC
GL events Exhibitions Wuxi	Wuxi	54.82	54.82	54.82	54.82	FC
GL events Exponet	Sydney	100.00	100.00	100.00	100.00	FC
GL events Greater China	Hong Kong	79.45	79.45	79.45	79.45	FC
GL events China	Hong Kong	79.45	79.45	79.45	79.45	FC
GL events Italie	Bologna	100.00	100.00	100.00	100.00	FC
GL events Japan Kabushiki Kaisha	Tokyo	100.00	100.00	100.00	100.00	FC
GL events Live Shenzen (ZZX)	Shenzhen	57.21	57.21	57.21	57.21	FC
GL events Macau	Macau	79.45	79.45	79.45	79.45	FC
GL events & North Star Beijing Exhibitions Services	Beijing	40.52	40.52	40.52	40.52	FC
GL events Saudi	Al Rabie District	100.00	100.00	100.00	100.00	FC
GL events South Africa	Johannesburg	100.00	100.00	100.00	100.00	FC
GL events Turquie	Istanbul	86.36	86.36	86.36	86.36	FC
GL events UK	Derby	100.00	100.00	100.00	100.00	FC
GL events USA	New York	100.00	100.00	100.00	100.00	FC
GL events Venues UK	Castle Donington	100.00	100.00	100.00	100.00	FC
GL events Vietnam	Hanoi	79.45	79.45	79.45	79.45	FC
GL events Vietnam Holding	Hong Kong	79.45	79.45	79.45	79.45	FC
GL events Vostok	Moscow	100.00	100.00	100.00	100.00	FC
GL events Yuexiu Guangzhou Developpment	Guangzhou	39.73	39.73	39.73	39.73	EM
GL Exhibitions Harbin	Harbin	79.45	79.45	79.45	79.45	FC
GL Furniture (Asia)	Hong Kong	47.67	47.67	47.67	47.67	FC
GL Litmus Events	New Delhi	70.00	70.00	70.00	70.00	FC
GL Middle East	Dubaï Jebel Ali	100.00	100.00	100.00	100.00	FC
Hungexpo	Budapest	100.00	100.00	100.00	100.00	FC
Imagine Labs	Hong Kong	47.67	47.67	47.67	47.67	FC
Istanbul Fuarcilik	Istanbul	50.00	50.00	50.00	50.00	FC
Johannesburg Expo Center	Johannesburg	59.62	59.62	59.62	59.62	FC
Logistics Fair	Brussels	100.00	100.00	100.00	100.00	FC
GL events Live Brasil	Sao Paulo	100.00	100.00	100.00	100.00	FC
North Star & GL events Venues Management	Beijing	38.93	38.93	38.93	38.93	EM
Nuevo Parque Vitacura	Santiago de Chile	100.00	100.00	100.00	100.00	FC
Padova Fiere	Padua	100.00	100.00	100.00	100.00	FC
Perfexpo	Brussels	100.00	100.00	100.00	100.00	FC
Premiere Vision Inc.	New York	100.00	100.00	100.00	100.00	FC
Premiere Vision Japan	Tokyo	100.00	100.00	100.00	100.00	FC
Sao Paulo Expo	Sao Paulo	100.00	100.00	100.00	100.00	FC
Santos Convention Center	Santos	100.00	100.00	100.00	100.00	FC
Serenas	Ankara	86.36	86.36	86.36	86.36	FC
Spaciotempo Arquitecturas Efimeras	Barcelona	100.00	100.00	100.00	100.00	FC
Tarpulin Ingenieria de Proteccion SPA	Santiago de Chile	63.20	63.20	63.20	63.20	FC
Tarpulin Montajes SPA	Santiago de Chile	63.20	63.20	63.20	63.20	FC
Top Gourmet	Rio de Janeiro	100.00	100.00	100.00	100.00	FC
Traiteur Loriers Luxembourg	Luxembourg	60.00	60.00	60.00	60.00	FC
Unique Structure Holding	Abu Dhabi	75.50	75.50	75.50	75.50	FC
Wicked Tents	Abu Dhabi	75.50	75.50	75.50	75.50	FC
World Forum	The Hague	100.00	100.00	100.00	100.00	FC
EM: Equity method / FC: Full consolidation / PC: Proportionate consolidation

First- time consolidation / Deconsolidated in 2026
The Group increased its ownership interest in GL events Sport (and its subsidiaries) to 91.13%.

NOTE 3 SEGMENT INFORMATION AND PERFORMANCE INDICATORS

GL events Group is organised into three business divisions:

GL events Live's expertise covers the complete range of business specialisations and services for corporate, institutional and sports events to provide turnkey solutions from consulting and design to staging the event itself. GL events Exhibitions manages and coordinates a large proprietary portfolio of trade shows and consumer fairs covering a wide range of sectors (food industry, culture, textiles, etc.) GL events Venues manages a network of venues that includes convention centres, exhibition centres, concert halls and multi-purpose facilities located in major French cities and international destinations:

The Group's operating performance (monthly management reporting for the three business sectors) is monitored before the impact of IFRS 16 and IAS 29. For that reason, performance information is provided with and without the application of these standards.

Significant events during the period are presented in the interim management report on page 21.

Revenue

(€ thousands)	30/06/2026 (Full IFRS)	30/06/2025 (Full IFRS)	30/06/24 30/06/26 FULL IFRS		30/06/25	30/06/24	Change 2026/2025
GL events Live	543,377	456,683	496,055	544,342	458,835	496,462	85,507	18.6%
% of revenue	56.3%	51.5%	60.5%	56.3%	51.6%	60.5%
GL events Exhibitions	123,807	171,784	113,354	123,807	171,784	113,354	(47,978)	-27.9%
% of revenue	12.8%	19.4%	13.8%	12.8%	19.3%	13.8%
GL events Venues	298,145	258,191	210,732	298,154	258,229	210,742	39,925	15.5%
% of revenue	30.9%	29.1%	25.7%	30.9%	29.1%	25.7%
Revenue	965,329	886,658	820,142	966,303	888,848	820,559	77,454	8.7%

Current operating income

(€ thousands)	30/06/26	30/06/25	30/06/24	30/06/2026 margin	30/06/2025 margin	30/06/24 margin
GL events Live	42,917	26,980	34,494	7.9%	5.9%	6.9%
GL events Exhibitions	19,975	41,168	22,122	16.1%	24.0%	19.5%
GL events Venues	44,099	36,255	24,092	14.8%	14.0%	11.4%
Current operating income	106,991	104,403	80,708	11.1%	11.7%	9.8%

(€ thousands)	30/06/2026 (Full IFRS)	30/06/2025 (Full IFRS)	30/06/24 FULL IFRS	30/06/2026 FULL IFRS margin	30/06/2025 FULL IFRS margin	30/06/24 FULL IFRS margin
GL events Live	44,967	28,783	35,941	8.3%	6.3%	7.2%
GL events Exhibitions	20,470	41,399	22,324	16.5%	24.1%	19.7%
GL events Venues	50,901	41,814	29,464	17.1%	16.2%	14.0%
Current operating income	116,338	111,996	87,729	12.1%	12.6%	10.7%

EBITDA

(€ thousands)	30/06/26	30/06/25	30/06/24	30/06/2026 margin	30/06/2025 margin	30/06/24 margin
GL events Live	67,946	47,950	57,666	12.5%	10.5%	11.6%
GL events Exhibitions	22,100	42,602	23,154	17.9%	24.8%	20.4%
GL events Venues	57,086	48,784	35,332	19.1%	18.9%	16.8%
EBITDA	147,132	139,336	116,152	15.2%	15.7%	14.2%

(€ thousands)	30/06/2026 (Full IFRS)	30/06/2025 (Full IFRS)	30/06/24 FULL IFRS	30/06/2026 FULL IFRS margin	30/06/2025 FULL IFRS margin	30/06/24 FULL IFRS margin
GL events Live	81,024	60,050	69,085	14.9%	13.1%	13.9%
GL events Exhibitions	25,382	44,244	24,534	20.5%	25.8%	21.6%
GL events Venues	77,249	67,544	53,240	25.9%	26.2%	25.3%
EBITDA	183,655	171,838	146,859	19.0%	19.4%	17.9%

Net investments in the period in property, plant and equipment and intangible assets

(€ thousands)	30/06/26	30/06/25	30/06/24
GL events Live	16,599	10,734	32,354
GL events Exhibitions	105	206	81
GL events Venues	13,482	16,485	48,298
Net investments	30,186	27,425	80,733

Allowances and reversals of amortisation, depreciation and provisions

(€ thousands)	30/06/26	30/06/25	30/06/24	30/06/2025 (Full IFRS)	30/06/24 FULL IFRS
GL events Live	(25,029)	(20,970)	(23,172)	(31,267)	(33,144)
GL events Exhibitions	(2,125)	(1,434)	(1,032)	(2,845)	(2,210)
GL events Venues	(12,987)	(12,529)	(11,241)	(25,730)	(23,776)
Amortisation, depreciation and provisions	(40,141)	(34,934)	(35,444)	(59,842)	(59,129)

To spearhead the management of its business and to define its strategy, the management bodies monitor the Group's performance indicators on a pre-IFRS 16 and IAS 29 basis. These latter standards have a significant impact on the economic presentation of the various KPIs (a decrease in revenue, a non-cash increase in EBITDA and current operating income, deterioration of the financial result, etc.). Operating data before the application of these standards is accordingly presented below:

(€m)	30/06/2026	IFRS 16 & IAS 30/06/2026 29 (Full IFRS)
Revenue	966.3	-1.0	965.3
Purchases and external charges	-602.0	36.6	-565.4
EBITDA	147.1	36.5	183.7
Allowances for depreciation and reserves	-40.1	-27.2	-67.3
CURRENT OPERATING INCOME	107.0	9.3	116.3
Net interest expense	-12.8	-11.7	-24.5
NET FINANCIAL EXPENSE	-14.3	-11.7	-26.0
EARNINGS BEFORE TAX	90.2	-2.4	87.9
Taxes & equity-accounted investees	-25.5	0.5	-25.0
NET PROFIT / (LOSS)	64.7	-1.9	62.9
Non-controlling interests	9.3	-0.3	9.0
NET PROFIT / (LOSS) ATTRIBUTABLE TO GROUP SHAREHOLDERS	55.4	-1.6	53.8

Number of shares

29,982,787

Earnings per share

1.85

-0.05

1.80

NOTE 4 BALANCE SHEET INFORMATION

4.1 Intangible assets

(€ thousands)	31/12/25	Increase	Decrease or impairment	Translation adjustments	Changes in Group structure & 30/06/26 reclassifications
Goodwill - GL events Live	257,938	5		1,950		259,893
Goodwill - GL events Exhibitions	494,794	955		12,257		508,006
Goodwill - GL events Venues	74,919	700		1,189		76,808
Goodwill	827,651	1,661	0	15,396	0	844,708
Other intangible assets	102,033	3,039	(18)	2,802	24,763	132,619
Amortisation, depreciation and impairment	(58,942)	(3,944)	7	(1,138)	711	(63,306)
Other intangible assets	43,091	(905)	(10)	1,663	25,475	69,314
Intangible assets	870,742	756	(10)	17,059	25,475	914,021

The increase in goodwill reflects, for the Exhibitions division, the acquisition of the Asian Expo business, and, for the Venues division, the application of IAS 29 to goodwill relating to the Group's Turkish operations. Changes in the scope of consolidation relating to other intangible assets mainly correspond to the identified intangible asset recognised on the acquisition of the S Pass Group.

For unamortised intangible assets and goodwill, a depreciation test is carried out at least once a year at the end of the annual reporting period or whenever there is an indication of impairment. Value in use is the present value of estimated future cash flows to be generated by the assets tested for impairment. Estimated future cash flows are based on assumptions about economic conditions and forecasts by Group management of future operating conditions.

The CGUs consist of operating companies. For the purpose of impairment tests, goodwill is allocated at the level of groups of CGUs defined as homogeneous groups of assets generating cash inflows and outflows from continuing use largely distinct from cash inflows from other CGUs.

These CGUs are classified on this basis according to the Group's three business divisions: Live, Exhibitions, Venues. This approach is consistent with the Group's internal organisation, strategic priorities and monitoring of performance.

The impairment tests carried out at the end of 2025 include budget assumptions consistent with business levels, profitability and the economic context. For all approaches tested, the sensitivity tests demonstrated the absence of the need for impairment even in the event of a significant deterioration in profitability and a change in actuarial assumptions.

IFRS 16 right-of-use assets

(€ thousands)	31/12/25	Increase	Decrease or impairment	Translation adjustments	Changes in Group structure & reclassifications	30/06/26
IFRS 16 right-of-use assets	813,858	72,274	(17,306)	11,832	426	881,083
Amortisation, depreciation and impairment	(264,275)	(27,178)	10,453	(2,063)	(242)	(283,306)
IFRS 16 right-of-use assets	549,583	45,095	(6,854)	9,769	184	597,777

The increase in right-of-use assets reflects the integration of the S Pass Group companies, the six-month extension of all property leases (offices and warehouses) in order to maintain a minimum remaining lease commitment of five years, together with new leases in Japan, notably in connection with the Asian Games.

Property, plant and equipment

(€ thousands)	31/12/25	Increase	Decrease	Translation adjustments	Changes in Group structure & reclassifications	30/06/26
Land	13,851					13,851
Buildings	505,776	8,232	(8)	21,865	10,219	546,085
Total - gross	519,627	8,232	(8)	21,865	10,219	559,935
Amortisation, depreciation and impairment	(171,459)	(5,832)	4	(5,133)	(5,649)	(188,068)
Land and buildings	348,169	2,401	(5)	16,733	4,571	371,868

The increase in buildings primarily reflects €2.0 million of works carried out at the Anhembi site (Brazil) and €5.0 million of works at the Eurexpo site (new exhibition hall). Changes in the scope of consolidation are attributable to the integration of the S Pass Group.

(€ thousands)	31/12/25	Increase	Decrease	Translation adjustments	Changes in Group structure & reclassifications	30/06/26
Installations, machinery and equipment	56,437	928	(117)	598	4,195	62,041
Other tangible fixed assets	135,866	2,532	(289)	1,549	17,338	156,995
Fixed assets under construction	2,169	1,622	(1)	20	(810)	3,000
Rental equipment assets	456,663	16,836	(4,764)	4,615	270	473,621
Total - gross	651,135	21,917	(5,170)	6,782	20,993	695,656
Installations, machinery and equipment	(36,106)	(2,349)	84	(214)	(2,787)	(41,371)
Other tangible fixed assets	(89,717)	(5,769)	184	(857)	(9,611)	(105,771)
Rental equipment assets	(301,137)	(19,143)	4,585	(2,683)	12	(318,365)
Total depreciation and impairment	(426,959)	(27,260)	4,853	(3,754)	(12,386)	(465,507)
Property, plant and equipment	224,175	(5,343)	(317)	3,027	8,607	230,149

Financial assets

(€ thousands)	31/12/25	Increase	Decrease	Translation adjustments	Changes in Group structure & reclassifications	30/06/26
Available-for-sale securities	35,962	1,489	(602)	215	(480)	36,585
Loans and receivables	28,687	154		177	732	29,750
Impairment	(2,415)		599		(93)	(1,909)
Financial assets	62,234	1,643	(3)	392	160	64,426

Equity-accounted investments

(€ thousands)	30/06/26	31/12/25
Value of securities at opening	2,937	2,668
Changes in scope of consolidation / Capital	1,330	568
Translation differences	262	(299)
Share of income in associates	74	611
Investments in associates	4,603	2,937

Trade receivables

(€ thousands)	30/06/26	31/12/25
Trade receivables	388,263	296,346
Impairment charges	(31,977)	(28,152)
Trade receivables	356,286	268,194

Other receivables

(€ thousands)	30/06/26	31/12/25
Advances and instalments	59,450	40,446
Social security receivables	3,446	2,865
Tax receivables	122,698	108,020
Other trade receivables and equivalent	104,756	61,094
Prepaid expenses	79,149	55,383
Other receivables	369,499	267,808

Shareholders' equity

Capital stock
The share capital at 30 June 2026 of GL events was €119,931,148 divided by 29,982,787 shares issued and fully paid up of 4 euros per share.

Reserves and additional paid in capital

Paid in capital represents the difference between the face value of securities issued and contributions received in cash or in kind.

In the 2026 first half, changes in "Reserves and additional paid in capital" broke down as follows:

(€ thousands)	30/06/26	31/12/25
Opening reserves and additional paid in capital	532,838	497,699
Appropriation of net profit	81,736	73,439
Dividends	(29,983)	(26,398)
Impact of fair value measurement of financial instruments	(1,548)	7,056
Portion of assets contributed by non-controlling interests	4,712	(25,885)
IAS 19 amendment	(173)	1,119
Cancellation of treasury shares	(3,146)	(2,993)
Stock option expenses	3,057	5,462
Other changes	2,083	3,339
Closing reserves and additional paid in capital	589,576	532,838

Translation adjustments
Translation adjustments represent the difference between the historic and average exchange rates and the closing rate. At 30 June 2026, this represented a negative currency difference of €213,607 thousand.

Treasury shares

Within the framework of the share repurchase programme, renewed by the General Meeting of 29 April 2026, transactions occurring in the first half of 2026 were as follows:

(number of shares)	31/12/25	Acquisitions	Disposals	30/06/26
- Treasury shares	645,866	98,304	(223,412)	520,758
- Liquidity agreement	4,481	185,368	(175,849)	14,000
Total	650,347	283,672	(399,261)	534,758

At 30 June 2026 534,758 own shares were held in treasury and within the framework of the liquidity agreement.

Analysis of capital and voting rights

As of 30 June 2026, the number of net voting rights stood at 46,734,034.

Share capital is comprised of one class of shares including shares with both single voting rights and double voting rights.

Information on the break down for share capital and voting rights, stock options and restricted stock unit plans is provided in the chapter "Shareholder information" on pages 362 of the 2025 universal registration document.

At 30 June 2026, ownership of the share capital was as follows:

Number of Percentage of Percentage of Percentage of Number of net Share capital ownership structure shares capital gross voting net voting voting rights rights rights
Olivier Ginon	501	0.00%	0.00%	0.00%	501
Le Grand Rey	47,884	0.16%	0.11%	0.11%	52,768
Polygone SA	17,256,974	57.56%	71.09%	71.90%	33,601,049
Trévise Participations	2,398,623	8.00%	5.07%	5.13%	2,398,623
Amar Family Office	1,051,364	3.51%	2.22%	2.25%	1,051,364
Atream	449,742	1.50%	0.95%	0.96%	449,742
Fimalac	309,598	1.03%	0.65%	0.66%	309,598
Montefiore	223,412	0.75%	0.47%	0.48%	223,412
Treasury shares	534,758	1.78%	1.13%
Free float	7,709,931	25.71%	18.29%	18.50%	8,646,977
Total share capital	29,982,787	100.00%	100.00%	100.00%	46,734,034

Provisions for retirement severance payments

Liabilities for retirement severance benefits are recognised in the consolidated financial statements under non-current provisions. These liabilities are calculated according to the projected unit credit method and take into account the related social charges.

This method takes into account factors that include projected trends for wage increases, employee turnover, mortality rates and a discount rate.

The assumptions applied for the calculation of retirement severance benefits (indemnités de fin de carrière) that concern primarily French companies of the Group were as follows:

Discount rate: alignment with the current market rate, i.e. 25-year OAT TEC of 4.33% compared to 4.21% at 31/12/2025.
Average rate for salary increases: 2%,
Retirement age: 67 for all categories of personnel, taking into account changes regarding the legal retirement age;
Rate for employers social contributions of 40%;
The turnover rate is calculated by employee age bracket.

(€ thousands)	30/06/26	31/12/25	Relevant heading
Opening balance	13,884	13,391
Service costs - benefit payments	124	1,937	Operating profit
Expense recognised under income	124	1,937
Actuarial gains or losses of the period from changes in assumptions	(219)	(1,429)
Changes in consolidation scope and translation differences	409	(14)
Provisions for retirement severance benefits	14,199	13,884

Current provisions for contingencies and expenses

(€ thousands)	31/12/25	Increase	Decrease Provisions Reversal of used in the unused period provisions		Translation adjustments	Changes in Group structure & reclassifications	30/06/26
Provisions for employee-related contingencies	3,499	1,263	(492)		18	(325)	3,963
Other provisions	13,653	1,298	(1,679)		124	1,971	15,366
Current provisions	17,152	2,561	(2,172)	0	142	1,646	19,329

Financial liabilities

(€ thousands)	31/12/25	Increase	Decrease	Translation adjustments	Changes in Group structure & reclassifications	30/06/26
Non-current borrowings	1,047,220	301,658	(217,414)	79		1,131,542
Financial instruments	(10,878)		1,039			(9,838)
Other financial liabilities	10,781	1,783		76	79	12,719
Long-term financial debt (1)	1,047,123	303,441	(216,375)	155	79	1,134,423
Cash liabilities	4,141	521		17	346	5,024
Total financial liabilities	1,051,265	303,962	(216,375)	172	424	1,139,448

Marketable securities

Bank and cash

(171,021)

(408,965)

(75,523)

(8,595)

26,423

(6,325)

(6,614)

77,962

(53,977)

(148,484)

(478,151)

Cash and cash equivalents

(579,986)

(84,118)

26,423

(12,940)

23,985

(626,635)

Pre-IFRS 16 net debt 471,279 219,844 (189,952) (12,768) 24,410

512,813

(1) Of which at 30 June 2026 Non-current portion of medium and long-term debt 836,167 thousand euros Current portion of long and medium term debt 298,256 thousand euros

(€ thousands)	31/12/25	Increase	Decrease	Translation adjustments	Changes in Group structure & reclassifications	30/06/26
IFRS 16 lease liabilities	587,500	80,892	(40,029)	10,610	527	639,499

Other liabilities

(€ thousands)	30/06/2026 (Full IFRS)	31/12/2025 (Full IFRS)
Other payables	147,543	92,369
Credit notes to be issued	3,946	5,321
Prepaid income	229,268	241,358
Other liabilities	380,757	339,048

Prepaid income corresponds to services and events scheduled for the second half of 2026 and the first half of 2027.

NOTE 5 INCOME STATEMENT INFORMATION

Raw materials, consumables and external charges

Raw materials, consumables and external charges break down as follows:

(€ thousands)	2026	2025	2026 FULL IFRS	2025 FULL IFRS
Purchases consumed	(44,941)	(43,043)	(44,941)	(43,043)
Subcontracting and external personnel	(274,800)	(288,707)	(274,800)	(288,707)
Equipment and property rentals	(83,835)	(82,057)	(47,275)	(47,686)
Travel and entertainment expenses	(29,119)	(24,791)	(29,119)	(24,791)
Other purchases and external expenses	(169,305)	(111,012)	(169,305)	(111,012)
Purchases and other external charges	(602,000)	(549,610)	(565,441)	(515,238)
REVENUE	966,303	888,848	965,329	886,658
Rate Purchases & other expenses vs. Sales (%)	-62.3%	-61.8%	-58.6%	-58.1%

Other current operating income and expenses

Other current operating income and expenses break down as follows:

(€ thousands)	2026	2025	2026 FULL IFRS	2025 FULL IFRS
Operating grants	7,960	3,493	7,960	3,493
Other income and expenses	(1,389)	(2,541)	(488)	(2,469)
Other current operating income and expenses	6,571	952	7,472	1,024

Other operating income and expenses
Other operating income and expenses mainly comprise restructuring costs, acquisition-related costs and the impairment of assets identified on the acquisition of the S Pass subgroup.

Net financial income (expense)

(€ thousands)	2026	2025	2026 FULL IFRS	2025 FULL IFRS
Income from financial investments	8,139	8,937	8,139	8,937
Interest expense	(20,893)	(22,908)	(32,613)	(33,395)
Net interest expense	(12,754)	(13,971)	(24,474)	(24,458)
Currency gains and losses	(1,689)	(1,251)	(1,689)	(1,251)
Other financial income and expenses	88	4	89	(1)
Provision on financial assets	88	1	88	1
Other financial income and expenses	(1,513)	(1,246)	(1,512)	(1,251)
Net financial income (expense)	(14,267)	(15,217)	(25,986)	(25,709)

Income tax

In accordance with IAS 34, the estimated effective tax rate for fiscal 2026 is 28.3 %.

NOTE 6 OFF-BALANCE SHEET COMMITMENTS

Commitments
Commitments by category (€ thousands)
Commitments given
- Short-term guarantee 6,469
- Medium-term guarantee None
- Joint security, miscellaneous guarantees 114,341
  Commitments received
- Opening of undrawn credit lines 340,000
- Joint security, miscellaneous guarantees None
  Off-balance sheet commitments between consolidated companies are eliminated as are all intercompany transactions and balances.
Concession royalties and property lease payments - non-cancellable portions
Firm commitments for concessions and property rental payments are henceforth included in the balance sheet in line with application of IFRS 16. However, the variable portion of fees and lease payments as well as options for renewal are not included in the IFRS 16 restatement.
Debt guaranteed by collateral
(€ thousands)
Guaranteed debt
Nature of the guarantee
- Bank borrowings 0
- Bank guarantees 220
Mortgage agreement in principle/mortgage Pledge of financial instruments
Other capital commitments

Capital commitments are broken down as follows by maturity:

(€ thousands) < 1 year 1 to 5 years > 5 years Total

Capital commitments 23,194 35,811 141,487 200,491

NOTE 7 TRANSACTIONS WITH RELATED PARTIES

The consolidated financial statements include all companies within the Group structure of consolidated operations (see note 2). Related party transactions concern primarily management services invoiced by Polygone SA to GL events, where Olivier GINON serves as a director for both companies, and property rental costs invoiced by Polygone to the Group, with Olivier GINON serving as Chairman, Anne-Sophie GINON as Managing Director of this company.

There are no other pension liabilities or similar benefits in favour of current and former directors and officers. In addition, no advances or loans have been granted to directors and officers.

Summary of transactions with related parties in the first half of 2026:

Description	Income (expenses)
General management services(1 )	(3,859)
Allowances and expenditures for missions, travel expenses and insurance	150
Property lease payments and land taxes(2 )	(6,827)
	Balance at 30/06/2026
Rent deposit guarantees(3 )	12,340
Trade receivables	965
Trade payables	(1,094)
Current account	(15,053)

The costs of general management services consisted notably of compensation charged for Mr. Olivier GINON, compensation charged for employees of Polygone SA, travel expenses and other costs incurred in connection with the performance of general management duties. This agreement is renewed each year by tacit renewal and approved by the General Meeting under regulated agreements.
Rental payments concern 12 operating sites. These rental amounts were determined on an arm's-length basis at market prices according to rental yields or prices per square meter for comparable properties.
The amount for deposit guarantees corresponds to one year's rent including tax.

INTERIM MANAGEMENT REPORT

MATERIAL EVENTS AND OPERATING HIGHLIGHTS OF THE 2026 FIRST HALF

GL events once again demonstrates the resilience of its business model despite an unstable and complex geopolitical environment.
The Group reported 9% revenue growth and a 2% improvement in operating profitability, driven by the momentum of the Live and Venues divisions. The Exhibitions division, however, was impacted by an unfavourable biennial cycle, resulting in lower activity, as expected. Net profit increased by 6% compared with H1 2025. These results demonstrate the relevance of the long-term strategy implemented by the Group and its ability to create value for shareholders.
GL events selected to install temporary infrastructure for COP17 on desertification
Mongolia will host the 17th Conference of the Parties (COP17) of the United Nations Convention to Combat Desertification (UNCCD) from 17 to 28 August 2026. The event is expected to bring together nearly 10,000 delegates from more than 190 countries under the slogan: "Restore nature, revive hope."
To organise this conference, the capital city Ulaanbaatar plans to install temporary structures on the outskirts of the city. Following an international tender process conducted in three stages, the Mongolian authorities selected GL events to install approximately 44,500 sqm of temporary structures to accommodate the 197 participating countries.
The Group has extensive experience in this field, having already contributed to 11 COP conferences between 2011 and 2024, including the most recent COP16 held in Riyadh, Saudi Arabia.

First-time consolidation of the S Pass Group's event venues

GL events has completed the acquisition from Fimalac of all 23 regional event venues operated by the S-Pass network, as well as Salle Pleyel, a landmark concert and performance venue in Paris.

This acquisition reflects GL events' ambition to build a leading cultural network in France, capable of structuring an integrated offering across the entire value chain of the sector and supporting high-quality, diverse and rich programming in line with local cultural policies.

Analysis of key income statement aggregates and performance measures

The Group's performance indicators are as follows:

(€ thousands)	30/06/26	30/06/25 30/06/2026 (Full IFRS)		30/06/2025 (Full IFRS)	Change N/N- 1	Change N/N- 1
Revenue	966,303	888,848	965,329	886,658	8.7%	8.9%
EBITDA (*)	147,132	139,336	183,655	171,838	5.6%	6.9%
Current operating income	106,991	104,403	116,338	111,996	2.5%	3.9%

Organic growth (**)	8.1%	8.1%	8.1%	8.1%
Operating margin	11.1%	11.7%	12.1%	12.6%	-0.7	-0.6
EBITDA margin	15.2%	15.7%	19.0%	19.4%	-0.4	-0.4

Net financial income (expense)	-14,267	-15,217	-25,986	-25,709	6.2%	-1.1%
Profit /(loss) before tax	90,228	83,324	87,857	80,425	8.3%	9.2%
Net profit	64,740	60,833	62,872	58,726	6.4%	7.1%
Net profit attributable to shareholders (Group share)	55,445	52,074	53,834	50,279	6.5%	7.1%

Net margin

5.7%

5.9%

5.6%

5.7%

-0.1

(*) EBITDA: (Earnings before interest, tax depreciation and amortisation): current operating income (EBIT) + amortisations and provisions (**) Organic growth: growth in revenue excluding changes in the scope of consolidation

GL events reported revenue of €966 million, up 9% in H1 2026 (12% at constant exchange rates), extending the growth momentum established over recent years. This performance was driven by the strength of the Group's three complementary business divisions, with particularly strong momentum in its Live and Venues activities. The Group's international expansion continued with markets outside France accounting for 54% of total revenue at the end of June 2026, supported in particular by mega events in Asia and Europe. At the same time, the impact of unfavourable biennial event cycles in South America and France was successfully offset, demonstrating the resilience of the Group's integrated business model.

The Group's operating profitability continued to improve, with current operating income rising to €107 million, up 2% compared with H1 2025. Adjusted for biennial event cycle effects, all margins improved, confirming the value of the Group's investments and the effectiveness of its long-term strategy. This improvement in operating profitability contributed to a 6% increase in net income attributable to owners of the parent to €55 million at the end of June 2026, representing earnings per share of €1.85.

Achieved in an uncertain global environment, these results confirm the Group's ability to create sustainable value and enable it to approach the second half of the year with confidence.

Income statement highlights by business

The breakdown of revenue was as follows:

(€ thousands)	30/06/2026 (Full IFRS)	30/06/2025 (Full IFRS)	30/06/24 30/06/26 FULL IFRS		30/06/25	30/06/24
GL events Live	543,377	456,683	496,055	544,342	458,835	496,462
% of revenue	56.3%	51.5%	60.5%	56.3%	51.6%	60.5%
GL events Exhibitions	123,807	171,784	113,354	123,807	171,784	113,354
% of revenue	12.8%	19.4%	13.8%	12.8%	19.3%	13.8%
GL events Venues	298,145	258,191	210,732	298,154	258,229	210,742
% of revenue	30.9%	29.1%	25.7%	30.9%	29.1%	25.7%
Revenue	965,329	886,658	820,142	966,303	888,848	820,559

The breakdown of current operating income by major business line was as follows:

(€ thousands)	30/06/26	30/06/25	30/06/24
GL events Live	42,917	26,980	34,494
GL events Exhibitions	19,975	41,168	22,122
GL events Venues	44,099	36,255	24,092
Current operating income	106,991	104,403	80,708

(€ thousands)	30/06/2026 (Full IFRS)	30/06/2025 (Full IFRS)	30/06/24 FULL IFRS
GL events Live	44,967	28,783	35,941
GL events Exhibitions	20,470	41,399	22,324
GL events Venues	50,901	41,814	29,464
Current operating income	116,338	111,996	87,729

GL EVENTS LIVE delivered strong growth in H1 2026, with revenue of €544 million, up 19% compared with 30 June 2025. EBITDA increased by 42% to €68 million, lifting the EBITDA margin to 12.5% (+2.0 percentage points), whereas current operating income reached €43 million, representing a current operating margin of 7.9% (+2.0 percentage points).

This performance reflects the commercial momentum generated in 2025, which translated into a significant improvement in operating profitability. Mega events made the largest contribution. These included the Milano Cortina Olympic and Paralympic Winter Games, the Aichi-Nagoya Asian Games, which accounted for a significant share of the division's activity throughout H1, the World Urban Forum in Baku, and services provided in connection with the 2026 FIFA World Cup in the US. These events also highlight the Group's ability to deliver a broad range of services and meet its clients' requirements across diverse geographical markets. GL events Live also confirmed its position as a leading partner for major events by providing services for Eurosatory, the Saut Hermès, the Rolex Monte-Carlo Masters, the Printemps des Sports Équestres, the 24 Hours of Le Mans, the Turkish Oncology Congress (TTOK), the Cannes Film Festival and the Cannes Lions International Festival of Creativity.

The division also benefited from the reduction in losses by the Sports segment together with improved profitability for Corporate events in France and Turkey. Fixed costs remained under control, increasing by only 4% compared with H1 2025.

GL EVENTS EXHIBITIONS reported revenue of €124 million in H1 2026, down 28% compared with H1 2025. This decline primarily reflects an unfavourable biennial event cycle, with H1 2025 including major exhibitions such as SIRHA, Expomin and the Rio International Book Fair. Current operating income amounted to €20 million, representing a current operating margin of 16.1%, down 7.8 percentage points compared with H1 2025.

In this context, the division once again demonstrated its resilience, supported by a diversified events calendar. In France, the performance improved compared with 2024, driven in particular by major events including SIRHA Bake and Snack, Première Vision Paris, Eurobois Lyon, CFIA Rennes, SantExpo, the Lyon Fair & Kidexpo, Hyvolution and SEPEM Douai, confirming the strength of the Group's position in its key domestic markets.

Internationally, the division continued to expand through events including Aquasur Tech in Chile, CACLP, the WESAVC East and West Small Animal Veterinary Conference, the Bienal do Livro Bahia, which partially offset the biennial impact of the absence of the Rio International Book Fair, and the AFRAVIH Conference. The international rollout of the Group's proprietary brands also continued with Première Vision New York, Première Vision Montreal and Denim by Première Vision Milan.

Challenging market conditions in China, particularly in exhibitions related to construction, renovation and fashion, continued to weigh on the division's overall performance. Fixed costs, however, declined by 4% compared with H1 2025. Personnel costs accounted for 60% of total fixed costs, reflecting disciplined cost management.

Finally, to strengthen the division's healthcare vertical, an agreement has been reached to acquire 100% of MCO Congrès, an agency specialising in the organisation of scientific and medical events, conferences and congresses. Based in Marseille, the company employs 30 people and generates annual revenue of €8.5 million. The transaction is expected to be completed by the end of July 2026.

GL EVENTS VENUES continued its growth trajectory in H1 2026, generating revenue of €298 million, up 15% compared with H1 2025. Current operating income reached €44 million, representing a current operating margin of 14.8%, up 0.8 percentage points. This improvement was supported by strong business activity and tight control of fixed costs, which increased by just 1% on a like-for-like basis compared with H1 2025.

In France, activity remained stable on a like-for-like basis, while the division benefited from the positive contribution of the consolidation of Stade de France and the 25 event venues of the S-Pass network; The Stade de France confirms its unique position in France, supported by a strong programme of sporting and entertainment events. Highlights of the first half included the Six Nations Championship matches against Ireland and England, the French Football Cup Final, the Top 14 Final, together with major concerts by JUL, Aya Nakamura, Fally Ipupa, David Guetta and Bruno Mars. Regional momentum also remained strong, supported by events such as the Two-Wheeled Vehicles Fair in Lyon and the Toulouse International Fair. The City of Caen also renewed its confidence in the Group by extending its contract to operate the city's exhibition centre for a further five years, while Eurexpo Lyon was selected to host competitions during the Alpes 2030 Olympic and Paralympic Winter Games.

Internationally, the Group's venue network once again demonstrated its ability to generate sustained and diversified business across all its locations. In Europe, the division recorded a decline compared with H1 2025, which had benefited from the exceptional impact of the NATO Summit at the World Forum in The Hague. Business activity nevertheless remained strong in Budapest, driven in particular by Agromash Expo, SIRHA Budapest, Transport Research Arena, Industry Days and Construma. In Italy, the division hosted the Salone Internazionale del Libro in Turin, reflecting its growing presence in the country.

In South America, the division maintained strong momentum, with the adverse biennial effect offset by robust activity at its Brazilian venues (São Paulo Expo, Anhembi and Riocentro) and Chilean venues (Espacio Riesco and Vittacura).

Financial position highlights

The Group's net debt stood at €513 million at 30 June 2026, up from €471 million at 31 December 2025 and broadly stable compared with €518 million at 30 June 2025. This position reflects cash flow from operations of

€107 million, disciplined capital expenditure of €33 million and a €68 million contribution from the Group's cash-generative working capital model (Live & Exhibitions), primarily reflecting significant trade receivables relating to the Milano Cortina Olympic and Paralympic Winter Games.

Cash outflows relating to acquisitions and additional equity investments amounted to €48 million during the first half. After taking into account financing costs (€13 million), a €1 million distribution to Chinese minority shareholders and favourable foreign exchange effects (€17 million), the financial leverage ratio stood at 1.9, well below the covenant limit of 3.5, confirming the strength of the Group's financial structure.

Changes in debt broke down in consequence as follows:

Operating cash flow: +€7 million

SUBSEQUENT EVENTS
No significant events occurred after the closing date of the financial statements.
OUTLOOK AND UNCERTAINTIES
Despite an uncertain geopolitical environment, the Group confirms its 2026 guidance, supported by continued momentum in its Live and Venues activities:
- Like-for-like revenue growth of more than 8%;
- Growth in current operating income;
- A CAPEX programme of around €80m.

Taking into account the acquisitions completed during the first half of the year, the Group expects net debt to remain stable, while further improving its financial leverage ratios.

RESPONSIBILITY STATEMENT FOR THE INTERIM FINANCIAL REPORT

I hereby declare that to the best of my knowledge the condensed financial statements presented for the first six months were prepared in accordance with applicable accounting standards and give a true and fair view of the financial position and results of the Company and its consolidated subsidiaries and that the interim management report included herein presents a true and fair view of the important events occurring during the first six months of the fiscal year, their impact on the interim financial statements, the main transactions with related parties and the principal risks and uncertainties for the remaining six months of the fiscal year.

Lyon, 23 July 2026

Olivier Ginon Chairman

>NOTES TO THE FINANCIAL STATEMENTS

STATUTORY AUDITORS' REPORT ON INTERIM FINANCIAL INFORMATION

This is a free translation into English of the statutory auditors' review report on the condensed consolidated interim financial statements included in the interim financial report, issued in the French language and provided solely for the convenience of English-speaking readers. This report should be read in conjunction with, and construed in accordance with, French law and professional standards applicable in France.

To the Shareholders:

In accordance with the terms of our appointment at your general meeting and the provisions of Article L. 451-1-2

III of the French Monetary and Financial Code (code monétaire et financier), we hereby submit our report regarding:

the limited review of the accompanying interim condensed consolidated financial statements of GL events SA for the six-month period from 1 January to 30 June 2026;
the verification of the information given in the interim management report.

These interim condensed consolidated financial statements were prepared under the responsibility of your Board of Directors. Our responsibility is to express a conclusion on these financial statements based on our limited review.

- Review of the financial statements
We conducted our limited review in accordance with the professional standards applicable in France.
A limited review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with professional standards applicable in France. As such, it provides a moderate assurance that the financial statements as a whole are free of material misstatements lower than that which would result from an audit.
Based on our review, nothing has come to our attention that causes us to believe that the interim accompanying condensed consolidated financial statements were not prepared in all material respects in accordance with IAS 34, the IFRS standard governing interim financial reporting as adopted by the European Union.
- Specific procedures and disclosures

We have also verified the information in the interim management report commenting on the interim condensed consolidated financial statements that were the subject of our limited review.

We have no matter to report regarding its fair presentation and consistency with the interim condensed consolidated financial statements.

Lyon and Oullins-Pierre-Bénite, 23 July 2026

The Statutory Auditors

French original signed by:

MAZA SIMOENS - FIFTY BEES FORVIS MAZARS DELOITTE Sebastien Belmont Arnaud Flèche Jean-Marie Le Jéloux

Partner Partner Partner

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