Highlight Communications : Quarterly Statement 1Q2026

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The Highlight Group with solid development in the first quarter of 2026 Consolidated sales amounted to CHF 63.9 million (previous year: CHF 79.9 million), due to production-related and foreign currency effects. EBIT improved by CHF 10.9 million to CHF -6.1 million (previous year: CHF -17.0 million). EBITDA improved by CHF 4.7 million to CHF 18.2 million (previous year: CHF 13.5 million) as a result of cost savings and optimization measures. Economic development of the Highlight Group Sales and earnings (in CHF million) Q12026 Q12025 Change Sales 63.9 79.9 -20.1% EBIT -6.1 -17.0 n/a Net profit for the period -7.9 -18.6 n/a Net profit attributable to shareholders -5.6 -13.1 n/a Earnings per share (in CHF) -0.10 -0.23 n/a Consolidated sales amounted to CHF 63.9 million (previous year: CHF 79.9 million), due to production-related factors and foreign currency effects. As in the prior-year period, higher sales are not expected until the third quarter, as the major theatrical releases are scheduled for the second half of the year. Operating expenses at Group level declined by CHF 28.5 million to CHF 83.6 million (previous year: CHF 112.1 million) as a result of the measures initiated in the previous year, cost savings and the optimization of operating activities. As a result, EBIT improved significantly from CHF -17.0 million to CHF -6.1 million. The consolidated result for the period improved by CHF 10.7 million year-on-year from CHF -18.6 million to CHF -7.9 million. Net assets and financial position (in CHF million) March 31, 2026 Dec. 31, 2025 Change Balance sheet total 459.8 491.2 -6.4% Equity -11.8 -3.3 n/a Current financial liabilities 188.5 191.3 -1.5% Cash and cash equivalents 18.4 21.8 -15.5% Non-current assets decreased by CHF 7.5 million to CHF 327.3 million compared with the level at year-end 2025. The reduction in film assets by CHF 6.8 million to CHF 222.7 million was mainly due to production-related factors, caused by the decrease in own productions. Current assets declined by CHF 23.8 million to CHF 132.5 million. The decrease was attributable to trade receivables and other receivables, which fell by CHF 18.2 million from CHF 111.3 million to CHF 93.1 million. Operational and economic development of the Film segment Theatrical production - During the reporting period, animation work began on the animated film "Hui Buh und der Fluch der Dschinn." In rights acquisition, the Constantin Film Group secured the rights to "The Bookie & the Bruiser" and "Invertigo" during the same period. Theatrical distribution - A total of two films were released in theaters during the reporting period: the German comedy "Die Ältern" and the science fiction film "Good Luck, Have Fun, Don't Die." Home Entertainment - Digital distribution of the German blockbuster "Das Kanu des Manitu", which launched in mid-December 2025, surpassed the 500,000-transaction mark during the reporting period. In the physical market, which is declining sharply, sales reached a well above-average 78,000 units. "Manitou's Shoe" also benefited from this, selling more than 7,000 units. The initial releases of the successful book adaptations "22 Bahnen" and "Momo" generated very satisfactory sales figures in both digital and physical formats. The initial release of the film "Pumuckl und das große Missverständnis" in March, with over 17,000 transactions, indicates strong sales potential both at launch and in the long term. The intensive and ongoing promotional campaigns for library products also contributed to the very encouraging sales figures. License trading/TV exploitation - The theatrical films "WOW! Nachricht aus dem All" and "Das Beste kommt noch" began their free-TV broadcast runs on RTL and ProSieben, respectively. On pay-TV (PPV), "In The Lost Lands" and "Bad Genius" premiered on Sky. TV service production - In the first quarter of 2026, filming began on the 24th season of "Dahoam is Dahoam" and the TV movie "Der Ursprung der Liebe," among other projects. At Constantin Entertainment, filming began on the courtroom show "Ulrich Wetzel - Seine härtesten Fälle" as well as on new episodes of the satirical TV show "Nachsitzen mit Christine Eixenberger". Several TV service productions achieved double-digit market shares (overall market) in the first quarter of 2026. The first broadcast of the service production "In fremden Händen" drew 5.89 million viewers on ZDF in March, with a 23.5% share of the total audience. The "Suck Me Shakespeer" series continues to be a ratings hit: the repeat broadcast of the trilogy on SAT.1 achieved a peak market share of 16.3% among young viewers (ages 14-29). The long-running series "Der Sonntags-Stammtisch" from Bayerischer Rundfunk also proved popular with young viewers, peaking at a 28.10% market share. In the streaming sector, the film "London Calling" - which was released under a paid subscription model for the first time -proved a hit with Netflix audiences. The action comedy, which started streaming on February 10, garnered approximately 1.8 million views and remained at the top of the Netflix charts in Germany and Austria for two weeks. Sales and earnings (in CHF million) Q12026 Q12025 Change Segment sales 43.6 52.1 -16.2% Segment earnings -3.0 -2.4 n/a% Revenues decreased by CHF 8.5 million due to the lower production volume. As in the prior-year period, higher sales are not expected until the third quarter. Operational and economic development of the Sports and Event segment In the first quarter of 2026, TEAM supported the commercial partners in preparation for the UEFA Champions League Final in Budapest, the UEFA Europa League Final in Istanbul, and the UEFA Conference League Final in Leipzig. In addition, the Business Development unit continued to identify new opportunities while progressing existing initiatives, including the sale of media rights for the Mexican Football Federation (FMF) and the partnership with Agassi Sports Entertainment to develop the World Series of Pickleball. In the first quarter of 2026, Highlight Event AG successfully organized two major events for the Vienna Philharmonic Orchestra: the 2026 New Year's Concert in Vienna and an exclusive sponsor event in Boston (USA). Preparations were also stepped up for the Summer Night Concert, which will be held on June 19, 2026, in the gardens of Schönbrunn Palace. In addition, sponsorship sales for the 2026 Eurovision Song Contest in Vienna - with Moroccanoil as the main sponsor, along with easyJet, idealista, Eskimo, Austria Tourism, and Zoop - were concluded successfully this quarter. Preparations for Eurovision Week were stepped up to ensure compliance with the contract. The year 2026 kicked off with another major highlight for SPORT1: the broadcasts of the World Darts Championship finals in early January once again achieved outstanding reach this year. The final between Luke Littler and Gian van Veen on January 3 drew an average audience of 2.12 million viewers and a peak audience of up to 3.05 million. This resulted in market shares of 9.1% (Z3+), 22.4% (men 14-59), and 27.2% (men 14-49). The semifinals and quarterfinals also achieved very strong ratings, with market shares of 27.0% and 16.4% (M14-49), respectively. Overall, market shares of 0.5% Z3 (Q1 2025: 0.5%), 0.8% E14-49 (Q1 2025: 0.9%), 1.0% M14-49 (Q1 2025: 1.2%), and 0.9% M14-59 (Q1 2025: 1.0%) were achieved in the first quarter of 2026. With an average of 63 million visits and 295 million page views per month, SPORT1 fell short of the same period last year (-12% and -8%, respectively). Video views fell to 10.39 million per month (-18% compared with the same period last year), primarily due to the loss of Google Discover as a key distribution channel. On YouTube, the decline compared with Q1 2025 was more moderate at -4%. Google SEO traffic performed well, bucking the market trend to rise by +3% to 27 million clicks, underscoring the growing relevance of editorially optimized and sustainable content. The strategic realignment continued apace in the first quarter of 2026. SPORT1 Digital successfully migrated to a new CMS backend and is proceeding with the development of the new web and app frontends. This technological realignment lays the groundwork for implementing an AI-driven approach aimed at both improving the efficiency of internal processes and increasing the personalization of user and customer offerings. The goal is to modernize the digital platform architecture in a sustainable manner and further strengthen competitiveness in an increasingly data- and technology-driven market environment. Sales and earnings (in CHF million) Q12026 Q12025 Change Segment sales 20.2 27.8 -27.3% Segment earnings -1.9 -13.4 n/a The external sales of the Sports and Event segment decreased by CHF 7.6 million to CHF 20.2 million. Despite the decline in revenues, the segment result improved significantly by CHF 11.5 million due to cost savings implemented and optimisations in operating activities resulting from the measures taken in the previous year. Report on risks and opportunities There were no changes in the Highlight Group's risks and opportunities in the first quarter of 2026. A detailed description of the risk management system and the risk and opportunity profile can be found in the management report of our 2025 annual report. Forecast Film segment At present, there are cautious indications of rising media consumption, stronger global demand for audiovisual products, and thus a generally positive outlook for the Film segment and a recovering theater market. Assuming this is the case, the sales forecast for 2026 is generally based on a promising portfolio of attractive own/co-productions and licensed films for the theatrical and home entertainment markets, as well as a diverse range of fictional and non-fictional service productions for TV broadcasters and streaming services. In addition to "Die Ältern" and "Good Luck, Have Fun, Don't Die" mentioned above, at least eight more film releases are scheduled or have already taken place in the German theatrical distribution market in 2026. These include "The Wizard of the Kremlin", "Solo Mio", "Backrooms", "Steckerlfischfiasko," the tenth installment in the Eberhofer series, "Das Gewisse Etwas" from Marc Rothemund, Zach Cregger's "Resident Evil", "Der perfekte Urlaub," Bora Da ğ tekin's sequel to the hit "Das perfekte Geheimnis" with an audience of 5 million; and "Boiúna: Legend of the Amazon." Constantin remains a distribution partner of Vuelta (formerly SquareOne) under a booking and billing deal. This means that Constantin distributes films such as "Kinder der Sonne" on behalf of Vuelta. In home entertainment exploitation, which includes digital transactions and physical product sales, Constantin expects digital sales of new releases and catalog titles to remain strong. A further decline in sales is expected in the physical market due to the downturn in consumer spending. With titles such as "The Physician 2", "Good Luck, Have Fun, Don't Die", "Die Ältern", "The Wizard of the Kremlin", "Solo Mio", "Backrooms", "Family Price", "Titan", "Resident Evil", "Frank & Louis", and the second season of "Neue Geschichten vom Pumuckl", the home entertainment distribution division has a wide range of highly promising productions at its disposal for 2026. In particular, the release of the next installment in the cult Eberhofer series, "Steckerfischfiasko", scheduled for the end of the year, is expected to generate strong sales figures. The theatrical film "Chantal and the Magic Kingdom"("Chantal im Märchenland") will premiere on free-TV on RTL in the second quarter of this year. Sports and Event segment In the next quarter, TEAM will support UEFA and its partners in delivering a successful conclusion to the second season of the current 2024/25 to 2026/27 rights cycle, including the Finals. TEAM Marketing AG continues to hold the marketing rights for the UEFA club competitions until the end of the 2026/27 season. Another focus in the coming quarter remains on examining and developing new opportunities to secure TEAM's future beyond 2027. Highlight Event AG is focused on the performance of contracts in connection with the Eurovision Song Contest and the Summer Night Concert, particularly in the areas of media, sponsorship, and merchandising. The orchestra will also appear in additional TV and sponsorship events in Hamburg (in September 2026) and in Tokyo (in October 2026). Throughout the remainder of 2026, SPORT1's strategic focus will remain on the consistent use, distribution, and monetization of premium sports and entertainment content. In the sports sector, the focus is on the ongoing development of darts, the continuation of all successful formats related to football, motorsports, etc., and the additional coverage of the 2026 FIFA World Cup. Given the continued rapid growth in cross-platform media consumption, sports programming in particular is driving the digital diversification of the SPORT1 brand. The goal is to develop new content for digital channels, tap into additional marketing environments, and thus sustainably increase reach and revenue. In the entertainment sector, the strategic establishment of entertainment content on free-TV and the specially created OTT platform show1.tv will be expanded further. SPORT1 is thus positioning itself as a modern, cross-platform brand for sports and entertainment. Events after the balance sheet date Management and the Board of Directors are not aware of any events that occurred after the balance sheet date with a material impact on the net assets, financial position and results of operations of the Highlight Group. Notes and forward-looking statements This document is a quarterly statement according to Section 51a of the Exchange Rules for the Frankfurter Wertpapierbörse. For calculation-related reasons, rounding differences of +/- one unit may arise and the percentages shown may not precisely reflect the absolute figures to which they relate. This document contains forward-looking statements that are based on estimates and expectations of the Group management. Words such as "anticipate", "intend", "expect", "can/could", "plan", "intended", "further improvement", "target is", and similar expressions are intended to identify forward-looking statements. Forward-looking statements are not historical facts. These are subject to risks, uncertainties and factors, of which most are difficult to assess and which in general are beyond the control of the Group management. If one or more of these risks or uncertainties materializes, or if underlying expectations do not occur or assumptions prove to be incorrect, the actual results, performance, or achievements of the Highlight Group may differ significantly from those described explicitly or implicitly in the forward-looking statements. Highlight Communications AG does not intend to continuously update the forward-looking statements contained in this document. Although every effort has been made to ensure that the provided information and facts are correct, and that the opinions and expectations are reasonable, no liability or warranty as to the completeness, correctness, adequacy and/or accuracy of any forward-looking statements in this document is assumed. Imprint Publisher and responsible for content: Highlight Communications AG, Pratteln, Switzerland Design, copy, layout and production: GFD Finanzkommunikation, Frankfurt am Main, Germany Pictures: Constantin Film, dpa Picture-Alliance, Frankfurt am Main, Germany HIGHLIGHT COMMUNICATIONS AG Quarterly statement 1Q2026

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