The Board of Directors approves the Interim Financial Report as at March 31, 2026

• Operating revenues of €21.0 million (+8.0%). Positive performance for both Aviation Revenues (+10.8%) and Non-Aviation Revenues (+5.0%).
• EBITDA of €3.9 million, down 10.3% compared with €4.3 million in 2025.

• The Group result is negative for €1.6 million, compared with a negative result of €848 thousand in 2025.

• Investments totalling €6.7 million, representing a 13.0% increase on the €5.9 million recorded in 2025, primarily earmarked for the new arrivals terminal at Pisa.
• Net financial debt stood at €86.1 million, compared with €73.3 million as at December 31, 2025 and

  €78.9 million as at March 31, 2025. The change is mainly due to cash outflows associated with the implementation of the investment plan and the normal seasonal fluctuations in working capital.

• The Fondazione Toscana Aeroporti - Ente Filantropico has been established as an entity dedicated to the structured management of corporate social responsibility activities.

Florence, May 14, 2026 - The Board of Directors of Toscana Aeroporti S.p.A. (the "Company", "Toscana Aeroporti"), an Italian company listed on Euronext Milan of Borsa Italiana S.p.A. that manages the airports of Florence and Pisa, met today to examine and approve the Interim Financial Report as at March 31, 2026.

Passenger and cargo traffic trends as at March 31, 2026

The Tuscan Airport System, as at March 31, 2026, reached the historic milestone of 1,749,286 passengers, recording growth of +7.1% compared with the same period in 2025 and significantly outperforming the

+4.9% growth recorded by the Italian airport system. This result was driven both by an increase in commercial passenger flights (+5.6%) and by an improvement in the aircraft load factor (+1.4 percentage points; 84.7%). Cargo traffic, with 2,578 tonnes of freight and mail carried, fell by 20.0% compared with

2025, affected by uncertainty in the macroeconomic and geopolitical environment, the introduction of freight tariffs and a reduction in cargo operations, partly due to a different mix of aircraft.

Consolidated operating results

Firstly, it should be noted that, historically, the first quarter of the year has shown negative margins due to the reduced level of activity typical of the winter months. This trend is traditionally offset by the profitability of subsequent quarters, particularly during the summer period, which is characterised by high traffic volumes.

€14.6 million in 2025, driven by growth in passenger traffic during the period and an increase in regulated fees. Network development expenses amounted to €3.9 million, up 13.0% compared with €3.4 million in 2025, mainly due to the increase in traffic volumes. Non-aviation revenues, amounting to €8.8 million, improved by +5.0% compared with €8.3 million in 2025.

S.r.l. (TAC) under the framework agreement signed with ANAS. Revenue from construction services reached €6.0 million, compared with €4.8 million in the first quarter of 2025 (+24.1%), reflecting the significant acceleration of the infrastructure development plan.

collective labour agreement and the increase in staff numbers (+10.2% FTE) required to support the significant growth in passenger traffic. Service costs amounted to €14.0 million, an increase of 16.4% compared with €12.0 million in 2025, mainly attributable to higher costs for construction services (+€1.2 million) and the increase in costs associated with the growth in passenger traffic. Other operating expenses amounted to €961,000 (€410,000 in 2025), mainly due to the establishment of the Fondazione Toscana Aeroporti - Ente Filantropico. Airport fees stood at €1.6 million (€1.5 million in 2025; +7.7%).

In the first quarter of 2026, taxes generated a tax benefit of €451,000 compared with a tax expense of

€47,000 in the first quarter of 2025. The change is due to the application of IAS criteria, which use the tax rate expected at the end of the financial year.

The Group's net result for the period ended as at March 31, 2026 was a loss of €1.6 million, compared with the loss of €848,000 recorded in the same period of 2025.

Investments and financial results

The Group's total investments as at March 31, 2026, stood at €6.7 million, an increase of 13.0% compared with €5.9 million in 2025. The main projects relate to work on the new arrivals terminal and fire safety upgrades at Pisa airport, and the roundabout designed to improve internal traffic flow at Florence airport.

In the first quarter of 2026, the Company recorded an operating cash outflow of €1.4 million and capital expenditure of €10.5 million, in line with the seasonal nature of the business and the progress of the infrastructure plan. Cash and cash equivalents as at March 31, 2026 stood at €17.4 million, with committed credit facilities in place to support ongoing investments.

Consolidated net financial debt as at March 31, 2026, amounting to €86.1 million, compares with €73.3 million as at December 31, 2025 and €78.9 million as at March 31, 2025. The change is attributable to the cash outflow associated with the implementation of the investment plan and to the normal seasonal fluctuations in working capital.

Significant events occurred after March 31,2026

For Florence A. Vespucci airport, the 2026 summer season will see the launch of new routes announced by Vueling to Menorca, by Finnair to Helsinki, and by Volotea to Berlin, Oviedo, Seville, Strasbourg and Valencia.

For Pisa G. Galilei airport, the 2026 summer season is expanding with new routes announced by easyJet to Glasgow, by Transavia France to Paris Orly, by Volotea to Toulouse and by Wizz Air to Iasi and Belgrade. The latter has also announced the launch of a new route to Palermo from 25 October 2026.

Outlook

In the first four months of 2026, the Tuscan Airport System recorded total passenger traffic of approximately 2.7 million (+6.9% compared with the same period in 2025). IATA forecasts confirm, at sector level, further growth in passenger traffic in 2026 compared with 2025; the new routes announced for the summer season and the performance of the first four months of the year are factors supporting a trajectory consistent with these forecasts. Historically, the second half of the year accounts for the lion's share of the system's volumes and profitability. The evolution of the economic outlook will remain subject to a macroeconomic and geopolitical context characterised by elements of uncertainty, attributable in particular to ongoing international tensions, the dynamics of energy commodity prices, the trend in global trade policies and the associated potential impacts on the aviation sector's operations. At present, the traffic trends observed across the Tuscan Airport System do not indicate any significant direct impacts. In 2026, the Company will continue to focus on the approval process for the Florence Master Plan and the completion of the new arrivals terminal in Pisa.

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The consolidated financial statements as at March 31, 2026 are attached. Please note that the figures relating to the quarterly situation as at March 31, 2026 have not been audited.

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The Director responsible for financial reporting, Marco Gialletti, declares, pursuant to Article 154-bis, paragraph 2, of the Consolidated Law on Finance (TUF), that the accounting information contained in this press release corresponds to the documentary results, books and accounting records.

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The consolidated financial report as at March 31, 2026 will be made available to the public at the registered office of the Company, on the 1INFO authorized storage system (https://www.1info.it) and on the Company's website (https://www.toscana-aeroporti.com, "Investors" section).

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This press release uses certain "alternative performance indicators" not provided for by IFRS-EU accounting standards, the meaning and content of which, in line with Consob communication DEM/6064293 of 28 July 2006 and subsequent amendments and additions (Consob Communication no. 0092543 of 3 December 2015 implementing ESMA/ 2015/1415), are explained below: Gross Operating Margin: defined as the difference between the sum of revenues and other income and the sum of costs (consumables, personnel costs, service costs, airport fees, other operating expenses). This represents the margin achieved before depreciation/amortisation, provisions for risks and reversals, and write-downs of trade receivables and other receivables.

Operating profit: defined as the difference between gross operating margin and the value of depreciation/amortisation and provisions for risks and charges and the provision for bad debts. This represents the margin achieved before financial management and taxes.

Net financial debt: this represents the algebraic sum of cash and cash equivalents, current financial receivables and current and non-current financial payables.

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This press release contains forward-looking statements indicated in the section "Outlook". These forward-looking statements are based on the present expectations and projections of the Toscana Aeroporti Group concerning future events, and they are, by their very nature, intrinsically risky and uncertain. Actual results may differ significantly from those contained in said forward-looking statements due to multiple factors, including changes in macroeconomic conditions and in the economic growth, as well as other changes in business conditions, a continuous volatility and a further deterioration of capital and financial markets, and many other factors, the majority of which are not under the control of the Group.

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Toscana Aeroporti S.p.A. is the management company of the Florence and Pisa airports. Founded on 1 June 2015 through the merger of AdF -Aeroporto di Firenze S.p.A. (managing company of the Florence A. Vespucci airport) and SAT - Società Aeroporto Toscano S.p.A. (managing company of the Pisa G. Galilei Airport), Toscana Aeroporti S.p.A. stands out for the complementary nature of the two airports, each with its own specific features: Florence airport focuses on the development of business and leisure traffic through full-service carriers, linking the major European hubs; whereas Pisa airport focuses mainly on tourism traffic operated by low-cost carriers and on cargo flights, paying particular attention to intercontinental connections. The Tuscan Airport System is one of the most important in Italy and is a driver of local economic development in one of the world's best known and most loved regions.

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