Juventus Football Club S p A : Approval of the half year consolidated financial report as of 31 December 2024. Update of the pro forma financial information to reflect the effects of Consob resolution no. 22858 dated 25 October 2023

THE BOARD OF DIRECTORS APPROVES THE CONSOLIDATED RESULTS RELATING

TO THE FIRST HALF OF THE 2024/2025 FINANCIAL YEAR

Turin, 27 February 2025 - The Board of Directors of Juventus Football Club S.p.A. (the "Company" or "Juventus") met today under the chairmanship of Gianluca Ferrero and, among other things, examined and approved the half-yearly consolidated financial report as of 31 December 2024.

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SUMMARY OF RESULTS FOR THE FIRST HALF OF THE 2024/2025 FINANCIAL YEAR

For a correct interpretation of the half-year figures, it should be noted that the financial year of Juventus does not coincide with the calendar year, but it runs from 1 July to 30 June, which corresponds to the football season. The economic trend of the Group is characterised by a highly seasonal nature, typical of the sector, basically determined by the participation in football competitions, the calendar of sporting events and by the players' Transfer Campaign.

The first half of the 2024/2025 financial year ended with a profit of € 16.9 million, improving by € 112.0 million compared to the loss of € 95.1 million recorded in the first half of the previous financial year, influenced by the effects of the men's First Team's non-participation in UEFA competitions.

The significant improvement in the net result compared to the same period of the previous year is attributable both to higher revenues and income amounting to € 101.0 million,and to the effects of progressive operating cost rationalisation actions, in reduction to a total of € 12.1 million.

Revenues and income for the first half of 2024/2025, at € 291.6 million, increased by 53.0% compared to the figure of € 190.6 million for the first half of 2023/2024. The increase in this item is affected by the participation, in the current season, in the

UEFA Champions League 2024/2025, which generates an increase in revenues from audiovisual rights and media revenues for € 60.1 million (of which € 64.1 million related to participation in the UEFA Champions League 2024/2025), as well as ticket sales for € 12.5 million (of which € 5.2 million for UEFA matches); the latter also increased due to the growth in revenues from season tickets and ticket sales for Serie A home matches.

Revenues from players' registration rights recorded a considerable increase compared to the previous year, amounting to

• 67.4 million.

The positive effects mentioned above were partially offset by lower revenues from sponsorship and advertising (down € 18.2 million compared to the previous year, mainly as a result of the failed signing of a front jersey sponsor). Revenues from sales of products and licences decreased by 64.5% solely due to the accounting effects of the agreement signed on 21 June 2024 with Fanatics Italy s.r.l. ("Fanatics"), regarding the management of e-commerce, retail sales and merchandise production, which also entailed a significant decrease in the costs previously related to these revenues; as a result of this agreement and the change in the merchandising business model, the Company also benefited from a moderate increase in net margins.

As a result of the cost rationalisation measures implemented in recent years, operating costs and expenses for the first half of 2024/2025, at € 193.4 million, decreased by 5.9% compared to the figure of € 205.5 million in the first half of the previous year.

The decrease in the item is significantly influenced by the management of Registered technical staff, including Expenses from players' registration rights, which showed a net decrease of € 10.1 million, as well as the decrease in purchases of products for sale, down by € 5.7 million, due to the agreement signed with Fanatics.

The item External Services mainly reflects higher organisational costs related to the return to participation in the UEFA Champions League 2024/2025, as well as higher legal and advisory costs.

Amortisation and write-downs of players' registration rights amounted to € 60.3 million, substantially in line with the amount recorded in the first half of the 2023/2024 financial year.

Players' registration rights amounted to € 336.7 million; the increase of € 62.1 million compared to the balance of € 274.6 million at 30 June 2024 stems from the net investments (€ 122.4 million) made in the first phase of the 2024/2025 Transfer Campaign, only partially offset by the amortisation and write-downs for the period (€ 60.3 million). The potential market value of these rights is estimated to be significantly higher than the net book value shown in the financial statements.

Land and buildings amounted to € 164.6 million, down € 2.8 million compared to the balance at 30 June 2024. Also in relation to this figure, it should be noted that the potential market value of the main assets included in this item (first and foremost, the Allianz Stadium) is estimated to be significantly higher than the net book value shown in the financial statements.

Group Shareholders' Equity as of 31 December 2024 amounted to € 57.1 million, increasing by € 16.9 million compared to the balance of € 40.2 million as of 30 June 2024 due to the profit of the first half of the 2024/2025 financial year (€ 16.9 million).

Net financial debt at 31 December 2024 amounted to € 302.3 million; the increase of € 59.5 million, compared to € 242.8 million at 30 June 2024, is almost entirely due to cash absorbed for investments in the transfer campaigns and is partly related to seasonality (proceeds from UEFA partly after 31 December 2024). As a matter of fact, the cash flow generated by the management of operating activities improved significantly compared to the figure recorded in the corresponding period of the previous year, thanks to the income from participation in the UEFA Champions League 2024/2025 and the effects of cost rationalisation actions.

It should be noted that, in December 2024, in the face of favourable market conditions, a transaction was finalised for the assignment without recourse of medium - and long-term receivables (for a nominal value of € 27.8 million) from foreign football clubs. The positive cash flow effect of € 25.4 million in the half-year is almost entirely offset by the negative effect of € 24.2 million of lower proceeds in the half-year due to assignments without recourse occurred in previous financials years.

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previous season, is due to the higher number of season tickets and to the inclusion of UEFA Champions League matches in standard and premium season tickets.

It should be noted that in the first half of the current season the average occupancy of the Allianz Stadium was over 97%.

Giorgio Chiellini returns to Juventus

On 16 September 2024, Giorgio Chiellini returned to Juventus in the role of Head of Football Institutional Relations, reporting directly to the chief executive officer Maurizio Scanavino, therefore starting a management career that sees him representing the Club in relations with national and international football institutions.

FIFA Club World Cup

On 5 December 2024, the draws were made in Miami for the group stage of the FIFA Club World Cup to be held in the United States from 15 June to 13 July 2025. The Bianconeri have been placed in Group G, together with Manchester City (England), Wydad AC (Morocco) and Al Ain (United Arab Emirates); the group stage will end on 26 June 2025.

Black, White & More: the new ESG strategy

Juventus was one of the first football clubs to recognise the importance of sustainability, setting out on an innovative path years ago.

Since the 2013/2014 season, the Company has published an annual sustainability report to transparently report on its commitment, choosing to publish the Non-Financial Statement prepared in accordance with Legislative Decree 254/2016 (now replaced by Legislative Decree 125/2024) from the 2021/2022 season. Since the 2015/2016 Season, these reports are subject to limited assurance by auditing companies.

In 2024, Juventus launched the Black, White & More ESG strategy and communicated it to its stakeholders. This is based on three areas of action - environment (Environmental), people (Social) and responsibility (Governance) - and six implementation pillars.

• Environment: Juventus considers safeguarding the planet a priority, both as a football club and as a global company. Two of the six strategic pillars, Emissions in the Corner and Assist to Circularity, are dedicated to this area, demonstrating commitment to reducing the carbon footprint and promoting circular economy initiatives.
• People: Juventus recognises the central role of sport in social integration, promoting mutual respect and fairness. Therefore, three pillars of the strategy are dedicated to this area. The first, People First, addresses an internal dimension, valuing the people in the Club and promoting a culture of daily sustainability. The other two, Sustainable Glocal Club and Fan Centrality, focus on social responsibility, with initiatives that aim to improve the wellbeing of communities locally and globally, collaborating with non-profit organisations and prioritising issues of accessibility and inclusion.
• Responsibility: The Sustainable Leadership strategic pillar aims to ensure full compliance with the ESG regulatory framework and to integrate sustainability principles into the Company's governance and business model.

Allianz Stadium hosts international rugby

On 23 November 2024, Allianz Stadium hosted the Italian national rugby team in a test match against the All Blacks. It was an unprecedented and successful event for our stadium, made possible by an agreement between Juventus and the Italian Rugby Federation.

Update of strategic plan estimates

On 27 September 2024, the Board of Directors examined the updated economic, equity and financial performance estimates for the current year and the next two years of the Strategic Plan 2024/2025-2026/2027 approved in October 2023 (the "Plan"); this update has not highlighted significant changes compared to the Plan estimates.

Resolutions of the Ordinary and Extraordinary Shareholders' Meeting of 7 November 2024

On 7 November 2024, the Ordinary Shareholders' Meeting approved the separate financial statements for the financial year ended 30 June 2024, which show a loss of € 199.2 million, as well as the full coverage of the losses with the share premium

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reserve. The consolidated financial statements for the financial year ended 30 June 2024 were also illustrated in the context of the Shareholders' Meeting.

The Shareholders' Meeting also resolved on (i) the renewal of the control body by appointing the Board of Statutory Auditors for the financial years 2024/2025 - 2025/2026 - 2026/2027, (ii) the securities-based compensation plan "Performance Shares Plan 2024/2025-2028/2029" and, to service such plan (iii) the approval of the proposal to authorise the purchase and disposal of treasury shares.

The Shareholders' Meeting approved Section I and expressed a favourable opinion on Section II of the "Report on remuneration policy and compensation paid" prepared pursuant to Art. 123-ter of the Consolidated Law on Finance.

Lastly, the Extraordinary Shareholders' Meeting approved the proposal to amend the By-Laws, following the approval of the so called "Legge Capitali" in March 2024, in order to allow that attendance at the Shareholders' Meeting and exercise of voting rights through the designated representative pursuant to Article 135-undecies of the Consolidated Law on Finance.

Agreement with the Revenue Agency

On 24 September 2024, the Company reached an agreement with the Italian Revenue Agency, Regional Directorate of Piedmont, Large Taxpayers Office with reference to two Reports on Findings (Processi Verbali di Constatazione, "PVC") issued by the Guardia di Finanza (Italian Tax Police) of Turin in the months of March and October 2023. These PVC related to the possible tax implications of alleged critical issues in the accounting of certain operating events related to the results that emerged in the context of the criminal proceedings pending at the public prosecutor's office at the Tribunal of Turin (today, at the public prosecutor's office at the Tribunal of Rome).

After submitting its observations and pleadings to the Office, albeit convinced of the correctness of its actions and, therefore, of the non-existence of the findings formulated - the Company decided to settle the entire tax dispute, in order to avoid a dispute on issues that are inherently subjective in valuation terms and whose interpretation is neither unequivocal nor established. The total expense incurred, including penalties and interest and relating to the four tax periods covered by the PVC (2018, 2019, 2020 and 2021), was equal to € 1.4 million; this expense, partly allocated to the provision for risks starting from the half-yearly financial report as of 31 December 2022 (and related adjustments in the subsequent half-years), was paid in full on 24 September 2024.

Criminal proceedings pending before the Rome Judicial Authority

On 22 December 2023, the Company received notification of the conclusion of the preliminary investigations from the Public Prosecutor's Office of Rome (the "Rome Notice"). The Rome Notice alleges offences under Article 2622 of the Italian Civil Code, Article 185 of the Consolidated Law on Finance, Article 2 of Italian Legislative Decree 74/2000 and Article 2638 of the Italian Civil Code against some individuals (i.e., certain former directors and managers and one current manager), while the Company is under investigation for the offences referred to in Articles 5, 25-ter, 25-sexies and 25-quinquesdecies of Italian Legislative Decree 231/2001.

On 17 July 2024, the Rome Public Prosecutors signed the request for committal for trial for nine defendants, including the Company. The file was then sent to the Office of the Preliminary Investigations Judge in Rome and assigned to the Preliminary Hearing Judge. By order notified on 14 October 2024, the Preliminary Investigations Judge set a preliminary hearing for 5 December 2024.

The hearing of 5 December 2024 was devoted to the filing of the documents related to joining the criminal proceedings as a civil party seeking damages by the persons allegedly harmed by the offences in question. In total, there were 214 individuals who filed civil claims. At the subsequent hearing on 27 January 2025, an additional 9 individuals joined the proceedings as a civil party seeking damages.

At the hearing of 10 February 2025, the Preliminary Hearings Judge of Rome ruled on the admissibility of the above- mentioned civil parties, completely excluding 2 intervening parties and limiting the admissibility of the claims for compensation made by the other 221 civil parties (including 218 shareholders) to only some of the offences contested in the request for committal for trial. The Preliminary Hearing Judge also issued, at the request of some civil parties, orders to summon Juventus as liable party for the civil claims. The next preliminary hearing is scheduled for 4 March 2025.

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Company believes, also with the support of its consultants, that the conditions under the applicable accounting standards for the recognition of a provision in the half-yearly consolidated financial report as of 31 December 2024 are not met.

SIGNIFICANT EVENTS AFTER 31 DECEMBER 2024

The Football Season

On 3 January 2025, the Men's First Team was eliminated from the Italian Super Cup in the semi-finals.

On 30 January 2025, the Women's First Team qualified for the semi-finals of the Italian Cup.

On 19 February 2025, the Men's First Team was eliminated in the play-offs of the single group stage of the UEFA Champions League 2024/2025.

On 26 February 2025 the Men's First Team was eliminated from the Italian Cup.

Second phase of the 2024/2025 Transfer Campaign

Acquisitions and disposals of players' registration rights

The transactions finalised in the second phase of the 2024/2025 Transfer Campaign involved a total increase in invested capital of € 37.0 million, resulting exclusively from acquisitions and increases.

Net expenses coming from temporary transactions amounted to € 1.8 million.

The total net financial effect, including auxiliary expenses and financial income and expenses implied on deferred receivables and payables, is negative and equal to € 41.1 million.

Termination of contract for the performance of professional sports activities

On 27 January 2025, the contract with the player Danilo Luiz da Silva, expiring on 30 June 2025, was terminated by mutual consent. This transaction does not generate an economic impact on the 2024/2025 financial year, since the adjustment of the net book value of the player's registration rights recognised in the first half of the financial year, equal to € 2.5 million, will be offset by a lower amortisation, for the same amount, in the second half of the financial year.

Kings World Cup Nations Final at Allianz Stadium

On 12 January 2025, Allianz Stadium hosted the Kings World Cup Nations final.

The Kings League, conceived by Gerard Piqué and created and organised by Kosmos, is a new seven-a-side football league with teams featuring the world's best streamers and content creators, and rules that seek to combine the best of football with the latest trends in esports and new ways of communicating and understanding the world.

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BUSINESS OUTLOOK

At the current date the operating result for the 2024/2025 financial year, in the absence of non-recurring events, is expected to be in the range of break-even, with a significant improvement than in the 2023/2024 financial year, which had been heavily penalised by non-participation of the men's First Team in UEFA competitions and by non-recurring costs. This expected improvement stems not only from elimination of the aforementioned negative - extraordinary - effects on revenues and costs, but also from a growing positive impact from the actions taken to structurally rationalise costs in the current financial year and in previous financial years.

As usual, the current financial year's economic, equity and financial performance will be mainly influenced by the sports results and by the Transfer Campaigns' effects.

Lastly, it should be noted that the Plan - on the basis of the assumptions contained therein, including those relating to sports performance - envisages a gradual improvement in the economic and financial performance over the period of the Plan, with the achievement of a positive net result and cash flow in the 2026/2027 financial year.

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STATEMENT PURSUANT TO ARTICLE 154-BIS, PARAGRAPH 2 OF ITALIAN LEGISLATIVE DECREE 58/1998

The financial reporting officer, Stefano Cerrato, declares, pursuant to paragraph 2, Art. 154-bis of Italian Legislative Decree 58/1998, that the accounting information contained in this press release corresponds to the document results, books and accounting records

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The condensed consolidated half-year financial report as of 31 December 2024 will be subject to a limited audit by the auditing firm Deloitte & Touche S.p.A. and will be made available to the public in the manner and within the terms prescribed by law.

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Alternative performance measures

In its financial reports, Juventus uses a number of alternative performance measures, which, although commonly utilised, are not defined or specified by the accounting principles applied to the drafting of the annual financial statements or the interim management reports. In compliance with CONSOB Notification no. 92543/2015 and with the ESMA/2015/1415 guidelines, said measures are defined as follows. These data are presented in order to offer a better assessment of the Group's operating performance and must not be considered as alternatives to those required by the IFRS standards.

Operating revenues: they represent the revenues deriving from the Group's business, net of income from management of players' registration rights.

Operating income: as indicated in the income statement, this represents the net balance between total revenues, total operating costs, amortisation, depreciation and write-downs, provisions and release of provisions and other non-recurring revenues and costs.

Net Financial Debt: this is an indicator of the financial structure and it corresponds to the difference between short and long- term liabilities on the one hand, and highly liquid financial assets on the other.

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ANNEXES

The Annexes are as follows:

1. sub Annex 1, the Group's consolidated financial statements as of 31 December 2024 compared to 30 June 2024 and the first half of the year 2023/2024. With reference to the accounting data presented in this press release, it should be noted that these data have not yet been audited by the independent auditors;
2. sub Annex 2, the pro-forma consolidated statements of financial position at 31 December 2024 and 2023, prepared to reflect the residual effects of Resolution no. 22858/2023, as detailed in the Annex itself. In relation to the Pro-forma Consolidated Statements (as defined below), it should be noted that they are published, at the request of Consob, both in this press release and in the consolidated half-yearly financial report at 31 December 2024, which will be made available to the public in the terms and in the manner prescribed by law.

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This press release contains a number of forward-looking statements regarding the Group. All statements included in this press release concerning activities, events or developments expected, considered or scheduled that take place or that may take place in the future are forward-looking statements. Forward-looking statements are based on current expectations and projections about future events and involve known and unknown risks, uncertainties and other factors, including, but not limited to, the following: volatility and deterioration of capital and financial markets, changes in general economic conditions, economic growth and other changes in business conditions, changes in governmental and industry regulations and other economic, business and competitive factors that may affect the Group's operations. These factors include, but are not limited to: (i) changes in the legal and regulatory framework (including in the industry) and/or their interpretation;

1. the adoption, at a national or global level, of policies that have an impact on the Group's business; (iii) the worsening of geo-political conditions (including the continuation and worsening of the conflict in Ukraine and in the Middle East or the involvement of additional countries in the hostilities) and macroeconomic conditions; (iv) the evolution or a resurgence of the Covid-19 pandemic and its consequent impact on the Group's business; (v) long-term changes in the preferences of fans/consumers, social or cultural trends that result in a loss of appeal of the "football product" to new generations of fans and consumers, also due to the evolution of consumer habits and the way Juventus branded content and products are used, and the world of football in general; and lastly (vi) inflation and the increase in costs for energy and, in general, for commodities. Therefore, the Group, as well as its directors, employees and representatives, expressly decline any liability for such forward- looking statements. Such forward-looking statements refer only as at the date of this press release and there is no commitment of Juventus to update or revise any forward-looking statement, whether following new information, events and future developments or otherwise, except in cases established by law.
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ANNEX 1

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

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