2026

Today, the meeting of the Board of Directors of Arnoldo Mondadori Editore S.p.A., chaired by Marina Berlusconi, reviewed the main consolidated results (unaudited) for the 2025 financial year, along with the 2026 guidance presented by CEO Antonio Porro.

In particular, the Mondadori Group’s preliminary results for 2025 showed revenues of € 931.5 million (-0.3% compared with € 934.7 million in 2024), Adjusted EBITDA of € 158.2 million (+0.4% compared with € 157.6 million in 2024) and a margin in line at 17%.

Strong cash generation was also confirmed for the 2025 financial year, with Ordinary Cash Flow of approximately € 65 million.

These figures, which reflect the Group’s overall stable performance compared with the previous year are broadly in line with the guidance previously provided for FY 2025. The only exception is the slight deviation in revenues, which are essentially stable compared with FY 2024 (-0.3%) versus prior guidance indicating low single-digit growth. This change is attributable to the contraction recorded in the book market in December, the most significant month of the year (-2.7%, source: Gfk, sell-out data at value) as well as to the trend in the Euro/Dollar exchange rate, the negative impact of which was greater than initially estimated at the beginning of the year.

With regard to FY 2026, also following the recent completion of the acquisition of Edilportale.com, the guidance approved today by the Board of Directors envisages low single-digit growth in both revenues and Adjusted EBITDA, as well as Ordinary Cash Flow in the € 65-70 million range, including a recurring contribution of approximately € 3 million from the newly acquired Edilportale.com.

The revised estimate – which places Ordinary Cash Flow in the € 65-70 million range, compared with the previous forecast of approximately € 70 million on average per year over the 2024-2026 three-year period on a like-for-like basis – reflects the impact of higher extraordinary publishing investments in the Education Books segment, driven by the alignment of school curricula with the new National Guidelines.

The Group has also launched a plan, to be fully implemented over a multi-year period, aimed at structural optimization, strengthening operational efficiency and supporting profitable growth and cash generation over the medium term.

The Mondadori Group further confirmed its current shareholder remuneration policy, as previously disclosed, in relation to the 2026 results. The policy provides for the distribution of the higher of 50% of Ordinary Cash Flow per share and the Divided Per Share distributed in the previous year, increased by 10% (corresponding to a Divided Yield of approximately 8%)^[1].

As previously communicated, the Board of Directors meeting to review and approve the draft financial statements and the consolidated financial statements is scheduled for 19 March 2026.

The Financial Reporting Manager – Alessandro Franzosi – hereby declares, pursuant to Article 154 bis, paragraph 2, of the Consolidated Finance Law, that the accounting information contained herein corresponds to the Company’s records, books and accounting entries. 

^[1] Based on market capitalisation as at 31/12/2025.

AdKaora, the digital company of Mondadori Digital, has been selected by Guess, one of the world’s most recognisable fashion brands, to manage its 2025 digital activities in Europe, with coordinated planning across Italy, Spain, Germany and Poland. The partnership was created to support two of the brand’s most important initiatives through a creative and technological ecosystem capable of maintaining a consistent narrative across multiple markets.

The campaigns, aimed primarily at a female audience attentive to style, personal care and fashion trends, with a strong interest in beauty, fashion and accessories, benefited from a multichannel approach combining high-impact formats, premium editorial distribution and advanced proximity marketing tools.

A central role was played by the proprietary creative formats developed by the AdKaora Creative Studio, designed to showcase products through an immediate, immersive language capable of capturing attention from the very first seconds. Thanks to their interactive nature, these solutions offered Guess a distinctive way to present both the spring lingerie collections and the iconic accessories launched in the second half of the year.

The strength of the collaboration lay in the ability to build a full-funnel journey, adapting messages and objectives to the different stages of the decision-making process. The upper funnel was supported by high-impact rich media and premium placements, while the consideration phase relied on more interactive experiences. Conversion, in turn, was driven by proximity marketing and drive-to-store solutions, integrated with a certified footfall analysis, enabling the real impact of digital activities on Guess boutiques across the various markets to be measured.

The overall analysis highlights how the synergy between strategy and creativity delivered strong performance, significantly exceeding market benchmarks in all countries involved, thanks to targeted planning on the AdKaora Value Network, an international editorial ecosystem that includes premium sites across the fashion and lifestyle sectors. This network enabled Guess to reach relevant audiences in each market while maintaining high quality standards. “Working with a partner like AdKaora allowed us to achieve very solid results, both in qualitative terms, thanks to consistently high-quality content, and in performance across the entire funnel. At the same time, being present within a premium editorial environment gave us the reassurance of planning aligned with the brand’s values, even across multiple markets,” said Ester Diamante, Media Planning Manager at Guess.

“The collaboration with Guess is a concrete example of how proprietary creativity, multichannel planning and measurable drive-to-store activation can coexist within a single international strategy,” commented Davide Tran, MarTech Hub Director Mondadori Digital and CEO of AdKaora. “Our Value Network, made up of premium vertical publishers across the main European markets, is a strategic asset that enables us to guarantee quality, consistency, brand safety and real results wherever the brand chooses to communicate. With proximity and drive-to-store strategies, we also ensured that Guess could bring genuinely interested customers into its stores, maximising visit rate performance throughout the campaign,” Tran concluded.

Below is Annex 3F regarding the purchase of Mondadori ordinary shares to service the ongoing Performance Share plans. These transactions were made under the authorization to purchase ordinary shares approved by the Shareholders’ Meeting of 16 April 2025.

PLAI is opening applications for 2026, targeting high-potential, AI-driven startups interested in accessing investment opportunities and developing collaborations with the Mondadori Group.

The selection process will remain open throughout the year. Each application will be assessed based on the actual value of the solution, its level of maturity and its strategic fit with the Mondadori Group. This approach enables PLAI to evaluate startups on an ongoing basis and to accelerate the transition from experimentation to implementation.

For interested startups, key evaluation criteria will include the degree of innovation of the AI solution and its potential for integration and cooperation within the Mondadori Group ecosystem. The level of collaboration and the final investment will be determined according to each startup’s potential. 

“The 2026 Call represents not only an investment opportunity, but also a privileged access point for high-potential, AI-driven startups interested in collaborating with the Mondadori Group,” said Stefano Argiolas, Chief Executive Officer of PLAI and Chief AI Officer of the Mondadori Group. “For us, true fit is based on two key elements: genuine innovation – technological, product-based or business-model-driven – and the real possibility of integrating the proposed solution with our platforms, brands and processes. This flexible approach, combined with an ‘always-on’ selection model, allows us to quickly identify and activate the most promising collaborations, accelerating the entry of the most deserving startups into our ecosystem,” Argiolas concluded.

What’s new for 2026

Building on the experience rapidly gained in this field – with over one thousand applications received in the previous two years and 16 startups accelerated – 2026 marks an evolution in PLAI’s model. The accelerator is strengthening its market positioning as a continuous open-innovation platform, focused on creating industrial value through structured collaborations with the Mondadori Group. In this context, PLAI aims to identify startups with which to develop innovation projects, Proofs of Concept and solutions applied to real business contexts.

As part of this strategic evolution, PLAI will also launch an experimental phase through the creation of a Venture Builder to explore the development of new entrepreneurial initiatives starting from concrete industrial needs. PLAI will offer the Mondadori Group the opportunity to create new products or services based on business-unit requirements, co-financing, where appropriate, the establishment of dedicated NewCo to develop and scale the identified solutions.

Strategic areas of interest

PLAI’s goal is to develop AI solutions applicable to the Mondadori Group’s reference markets, with particular focus on the following areas:

• Education, with an emphasis on the digital learning and edtech sectors;
• Retail, covering customer experience, demand management and logistics;
• New Media & Advertising, specifically content, audience growth and optimisation, and advertising solutions;
• Publishing, with a focus on optimising editorial workflows, distribution and engagement;
• Corporate, including planning and control, administration, procurement, supplier management and legal functions.

What PLAI offers selected startups:

• up to €300,000 in equity investment (including initial investment and follow-on) to accelerate growth;
• up to €100,000 for Proofs of Concept and pilot projects, co-development initiatives and experimentation in real business contexts within the Mondadori Group;
• direct access to corporate expertise, real use cases and co-development opportunities;
• strategic and operational support aimed at delivering concrete projects;

Partners

In 2026, PLAI will be supported by Italian and international partners including Amazon Web Services (AWS), ElevenLabs, Fastweb+Vodafone, I3P, IFAB, Multiversity, PwC Italia, Startupbootcamp and StartupItalia.

📌 Full details and the application form are available at:
👉 https://www.plai-accelerator.com/call-2026/

PLAI is the Mondadori Group’s startup accelerator, supporting AI-driven startups with the aim of transforming innovative solutions into concrete entrepreneurial projects, fostering integration between technology, markets and real industrial contexts. Operating as a platform for open innovation and industrial collaboration, PLAI offers selected startups the opportunity to develop Proofs of Concept, co-development projects and applied initiatives in synergy with the Mondadori Group and its ecosystem. Active in the Early-Stage and Growth phases, PLAI selects and invests in Italian and international startups, providing capital, corporate expertise and access to real use cases, with flexible, tailor-made support focused on value creation and real-world adoption of solutions.

As of today, Marco Sciuccati has been appointed Director of Human Resources and Organisation of the Mondadori Group, reporting directly to Chief Executive Officer and General Manager Antonio Porro.

Born in Castellanza (Varese) in 1965, Marco Sciuccati holds a degree in Economics and Business Administration from the Università Cattolica in Milan and is a certified Professional Counsellor specialising in corporate and organisational contexts.

After gaining initial professional experience at Accenture and DHL, in 1996 he joined The Coca-Cola Company in the Mediterranean area, working across management control, operational marketing and sales, and then in 2000 moved to Bain & Company. His career continues with significant roles in various multinational companies in Human Resources and Organisation. From 2003 to 2011, Sciuccati worked at Ferrero International S.A., where he held among other positions the role of HR & Organisation Director for selected Group functions. In 2011, he joined Pirelli, where he served as HR & Organisation Director for Europe, Group Organisation Director, and HR Director for Manufacturing and Technical Functions. In 2018, he moved to Candy Hoover Group as Global HR and Organisation Deputy Director, and from 2019 to 2022 he held leadership roles in Human Resources at Haier Europe, including HR Director Operations, Factories & Industrial Relations. In October 2022, Sciuccati was appointed Chief HR & Organisation Director of Lecta, a multinational company operating in the paper industry.

Daniele Sacco, who served as Director of Human Resources and Organisation of the Mondadori Group for over nine years, has decided to step away from operational responsibilities to focus on new personal and professional projects.

The Mondadori Group would like to thank Daniele Sacco for his expertise, professionalism and distinctive contribution during a period of significant transformation in the world of work and organisational models.

Tomorrow, Saturday 31 January, the Mondadori Bookstore in Fidenza (Parma) will reopen its doors to the public with a completely refurbished space dedicated to books and entertainment, offering an even richer and more engaging experience. The opening event, scheduled for 5:00 pm, will welcome local authorities and feature live musical accompaniment by a student from the Arrigo Boito Conservatory of Parma.

The renewed bookshop is part of Mondadori Store’s ongoing programme of development and modernisation, in line with the network’s strategy to promote reading and cultural engagement by creating interactive meeting places, vibrant socio-cultural hubs for local communities, and a personalised shopping experience.

The new Mondadori Bookstore spans approximately 150 square metres and features an entirely redesigned layout alongside a catalogue of around 10,000 titles, ranging from great literary classics to bestsellers. The selection includes fiction, non-fiction and international titles, with a strong focus on the interests of younger readers as well.

Dedicated themed areas further enrich the offering, including We are Junior, the format designed for younger readers, featuring educational games and illustrated books to spark imagination through engaging stories; Just Comics, the section devoted to the world of manga and graphic novels; and the new My New Romance corner, created for readers who love contemporary, emotionally rich stories exploring relationships and personal connections. The bookshop’s range is completed by a selection of books in original languages, as well as a wide assortment of stationery, toys, gadgets and gift cards.

The Mondadori Bookstore in Fidenza also serves readers online. Customers can stay up to date through its Instagram and  Facebook pages. In addition, they can access the digital services of  Mondadoristore.it to check book availability, place orders, collect items in store or have them delivered directly to their home.

Mondadori Store is the largest network of bookshops in Italy, with over 500 locations across the country, from major cities to smaller towns. These cultural hubs operate nationwide under the Mondadori Bookstore brand, through both direct management and franchising, as well as via the company-owned Mondadori Bookstore | MA, Mondadori Duomo and Rizzoli Milano stores. Mondadori Store is also active online through the Mondadoristore.it e-commerce platform and its bookclub offering.

MONDADORI BOOKSTORE

Address: Via Berenini 30, 43036, Fidenza, PR
Opening hours: Monday to Saturday, 8.30 am to 1.30 pm and 4.30 pm to 8.30 pm

Telephone: 0524 452527
E-mail: mondadori.fidenza@gmail.com
IG – FB

On Saturday 31 January, Mondadori Store, Italy’s largest network of bookshops, will open a new store in Campania, in the city of Benevento, offering the local community a welcoming space dedicated to books and entertainment. The opening event will also be attended by the Mayor of Benevento, Clemente Mastella, who will take part in the traditional ribbon-cutting ceremony.

The new Mondadori Bookstore covers an area of 150 square metres and features a modern layout with dedicated spaces for different literary genres. Visitors will be welcomed by a team of experienced booksellers and a catalogue of around 10,000 titles, ranging from great classics to bestsellers, including fiction, non-fiction, international titles and school textbooks.

“We are delighted to launch this new project: an opportunity we embraced without hesitation, representing both a fresh start and an important step in our professional growth,” said Grazia Damiano, Mondadori Store franchisee, who has worked in the book sector for over 18 years as both an editorial promoter and bookseller. “With this bookshop, our goal is to promote reading and spread culture locally, offering a range designed to appeal to young people and professionals alike, while also building partnerships with schools and local institutions,” Damiano added.

The Benevento bookshop hosts all the latest releases, with themed areas designed to meet the tastes of every reader. These include We are Junior,  a space for younger readers featuring educational games and illustrated books to spark their imagination; Just Comics, dedicated to manga and comics; My New Romance, a new corner for fans of romance fiction, one of the most popular genres today; as well as a wide selection of stationery, toys, gadgets and gift cards. The bookshop will also host a variety of events and initiatives, including author talks and book signings, children’s workshops and reading clubs.

The Mondadori Bookstore in Benevento also serves readers online. Customers can stay up to date through its Instagram and Facebook pages. They can also access the digital services of  Mondadoristore.it to check book availability, place orders, collect items in store or have them delivered directly to their home.

Mondadori Store is the largest network of bookstores in Italy, with more than 500 locations across major cities and smaller towns. These cultural hubs are present throughout the country under the Mondadori Bookstore brand, both in directly managed and franchised stores, as well as through the company owned bookshops Mondadori Bookstore MA, Mondadori Duomo and Rizzoli Milano. Mondadori Store is also active online through the Mondadoristore.it e commerce site and its book club format.

MONDADORI BOOKSTORE

Address: Viale Mellusi 23/25, 82100, Benevento, BN
Opening hours: Monday to Saturday, 8.30 am to 1.00 pm and 4.00 pm to 8.00 pm

Telephone: 0824 1900543 (also available for bookings via WhatsApp)
E-mail: mondadoricactus@gmail.com
IG – FB

A major exhibition at Palazzo Reale and three exhibition “chapters” hosted by three major Milanese museums, accompanied by a multidisciplinary programme of initiatives across the city: Metafisica/Metafisiche is the project curated by Vincenzo Trione, which brings the masters of Metaphysical art into dialogue with their international “heirs” and with the “followers” of the twentieth and twenty-first centuries.

Promoted by the Italian Ministry of Culture and the Municipality of Milan, the project is produced by Palazzo Reale, Museo del Novecento, Grande Brera–Palazzo Citterio and Gallerie d’Italia, in collaboration with the publishing house Electa, and forms part of the cultural programme of the Milan Cortina 2026 Winter Olympic and Paralympic Games.

The exhibition Modernità e malinconia at Palazzo Reale is realised with the scientific collaboration of the Giorgio and Isa de Chirico Foundation and the Museo Morandi, with the participation of the Alberto Savinio Archive and the Carlo Carrà Archive.

At Palazzo Reale, more than 400 works are on display, including paintings, sculptures, photographs, drawings, design objects, as well as architectural models and maquettes, illustrations, comics, magazines, videos and vinyl records. The exhibition features national and international loans from over 150 public and private institutions, galleries, archives and prestigious private collections.

From the protagonists of the historic group founded in Ferrara in 1917—Giorgio de Chirico, Alberto Savinio, Carlo Carrà, Filippo de Pisis and Giorgio Morandi—to the artists in Europe and America who absorbed the movement’s atmospheres and formal solutions, and on to contemporary echoes in the works of various authors inspired by Metaphysical poetics across the fields of art, photography, architecture, cinema, theatre, design, fashion, literature, graphic novels and music. From Mario Sironi to Felice Casorati, from René Magritte to Max Ernst, from Salvador Dalí to Andy Warhol. And further still, from Mimmo Paladino to Giulio Paolini, from Jannis Kounellis to Francesco Vezzoli, from Aldo Rossi to Gio Ponti, from Paolo Portoghesi to Frank Gehry, from Mimmo Jodice to Gabriele Basilico, from Giorgio Armani to Fendi, from Paolo Sorrentino to Tim Burton, through to David Bowie and many others besides.

“Distant and disparate episodes, which seem to have nothing in common, born of the imagination of artists far removed from one another in generational, cultural and linguistic terms,” explains the curator. “And yet, albeit along secret paths and not always in a fully intentional manner, these voices share a common stance: a distinctive manière de voir, inspired by a lateral, clandestine and perhaps marginal poetic experience, which took shape more than a century ago in a provincial city, situated outside history.”

“From Piazza Duomo to Brera there are two thousand steps of art: the route that begins on 28 January with Metafisica/Metafisiche in the rooms of Palazzo Reale will take in the Museo del Novecento and the Gallerie d’Italia in Piazza della Scala, before concluding at Palazzo Citterio,” states the Councillor for Culture, Tommaso Sacchi. “A sentimental map at the heart of Milan, connecting physical spaces and works of art, and evoking an idea of the city as a diffuse museum, one that can also be explored on foot and is capable of bringing past and present, great masters and contemporary perspectives into dialogue. An ambitious and collective project that restores Metaphysical art to its generative force and invites citizens and visitors alike to rediscover Milan as a place of thought, imagination and vision.”

At the Museo del Novecento, within the Ettore and Claudia Gian Ferrari Archives, a section is devoted to an indepth exploration of the relationship between Metaphysical art and Milan. It examines the in some respects surprising bond between certain protagonists of the group led by de Chirico and the city itself—an artistic and intellectual crossroads, but also a laboratory for experimentation and dialogue between the arts.

Within the exhibition space, visitors encounter a selection of drawings, maquettes, costumes, archival materials and photographs, bearing witness to the activity of de Chirico, Savinio and Carrà in the Lombard capital and to their collaboration with some of the city’s most important artistic and cultural institutions. Particular emphasis is placed on set and costume designs produced by the artists between the 1940s and 1950s for Teatro alla Scala, as well as period photographs and preparatory drawings for Bagni Misteriosi, created for the Triennale di Milano.

A further focus is dedicated to Ascolto il tuo cuore, città (1944) by Alberto Savinio, a work that encapsulates “all the ‘carnal’ love that a man can feel for a city”. This documentary novel is the subject of a series of ten plates by Mimmo Paladino, entitled Disegni per Savinio, in which the artist extracts situations and atmospheres to compose the sequences of a kind of involuntary drawn film with a neo-realist imprint, governed by a finely calibrated interplay between fidelity and infidelity, between fragments of writing and visions.

At the Gallerie d’Italia – Milano, the Intesa Sanpaolo museum in Piazza Scala, in dialogue with the works housed in the vaults, a tribute to Morandi is presented through the photographs by Gianni Berengo Gardin dedicated to the painter’s Bolognese studio.

At Palazzo Citterio, the Grande Brera hosts an unprecedented homage by William Kentridge, likewise dedicated to Giorgio Morandi. Kentridge’s intervention unfolds in two parts: a sound video installation and a sequence of cardboard sculptures, which poetically reinterpret everyday objects—the protagonists of Morandi’s still lifes. This approach establishes an ideal dialogue with the Metaphysical works by the Bolognese master preserved at Palazzo Citterio. In keeping with the curatorial framework of Metafisica/Metafisiche, Kentridge’s installation highlights Morandi’s formal and conceptual legacy and revisits an expressive practice in which time, memory and rhythm become visual matter.

The unified catalogue for the exhibitions is published by Electa.

On the occasion of Metafisica/Metafisiche. Modernità e malinconia, Electa, in collaboration with the National Museum of Photography – MUNAF, presents Racconti della metafisica, a programme of cultural events for visitors to the exhibition at Palazzo Reale, running from February to June 2026. A series of special tours and conversations will bring different disciplines and perspectives into dialogue, offering the public new insights into the resonances of Metaphysical art in the present.

List of venues

Metafisica/Metafisiche. Modernità e malinconia
Palazzo Reale
28 January – 21 June 2026

Milano Metafisica
Museo del Novecento
28 January – 21 June 2026

Gianni Berengo Gardin.
Lo studio di Giorgio Morandi
Gallerie d’Italia – Milano
28 January – 6 April 2026

William Kentridge.
More Sweetly Play the Dance and
Rememebering Morandi
Grande Brera-Palazzo Citterio
6 February – 5 April 2026

Mondadori Digital is strengthening the offering of its MarTech hub with the merger of Hej! into the digital company AdKaora. The transaction represents a strategic step forward for both businesses, which come together as a single operating entity and a market leader, driven by a highly specialised technology hub offering full-funnel digital solutions: from brand awareness and lead generation through to final conversion.

“With this operation we are completing a strategic integration journey that has, over the years, proven its effectiveness in terms of results and innovation,” said Andrea Santagata, CEO of Mondadori Digital. “The merger of Hej! into AdKaora further consolidates the positioning of our MarTech hub, which today generates more than €40 million in combined revenues across Italy and LATAM, thanks to a full-funnel offering that brings together creativity, technology, data and performance. From this virtuous integration emerges a digital ecosystem that enhances the value of each individual asset, setting new benchmarks for effectiveness and performance in the MarTech landscape,”,’ Santagata concluded.

The new AdKaora, with operations in Italy and Spain, brings together a team of more than 80 industry professionals, led by Davide Tran as CEO and Paolo De Santis, COO and Co-founder of Hej!, who has been appointed Co-CEO of AdKaora.

“The integration of AdKaora and Hej! under a single brand is the natural outcome of years of shared successes, and having Paolo De Santis alongside me in leading this new organisation reflects our strong commitment to continuity,” said Davide Tran, MarTech Hub Director at Mondadori Digital and CEO of AdKaora. “Today we no longer offer simply complementary products, but a single digital ecosystem in which creativity, data and technology work together to guide users throughout the entire funnel. AI plays a central role in this evolution, with Hej! remaining the cornerstone of our performance offering. Our goal is to further strengthen our position as the partner of choice for innovation in marketing and communications, delivering effective and distinctive solutions for our clients. In the first quarter alone, we already have several new products in the pipeline, spanning both awareness and performance, as we continue to evolve and differentiate ourselves in the market,” Tran concluded.

“By bringing teams and expertise together, we are building something truly new, grounded in very solid foundations. For us, bringing people together has always come before merging companies, as from the very beginning we have shared the same principles and the same vision of the world and of business. This deep alignment results in a genuine cross-pollination of ideas and know-how, creating the fertile ground from which our next wave of products, services and innovation will grow”, said Paolo De Santis, Co-Managing Director of AdKaora.

THE STRENGTHS OF THE NEW ADKAORA

The new AdKaora is built on three key pillars:

1. technological evolution: the sharing of technological infrastructures accelerates the development of proprietary solutions and the integration of increasingly advanced artificial intelligence systems;
2. data enhancement: the integration of databases and analytical capabilities enables even more granular user profiling, transforming data into predictive value for campaigns and into measurable, tangible results;
3. optimisation of operational workflows: the unification of internal processes allows for a faster, more comprehensive and more consultative response to market needs.

In this context, Hej! retains its strong identity as a best-in-class product line and as a specialised technology arm focused on AI and Conversational Marketing.

ADKAORA’S NEW ORGANISATIONAL STRUCTURE

AdKaora ‘s new organisational structure brings together, under a single strategic vision, specialised expertise designed to enhance the company’s ability to bring integrated, data-driven technological solutions to market. Reporting directly to CEO Davide Tran, the team includes key roles with cross-functional responsibilities, including:

• Stefano Argiolas (Chief Strategy & Innovation Officer at AdKaora and Mondadori Digital), responsible for steering strategic development and product innovation, with a specific focus on leveraging AI as a competitive driver across the entire Mondadori Digital ecosystem;
• Paolo Ingrosso (Chief Revenue Officer), responsible for revenue growth, commercial activities and relationships with clients and agencies;
• Francesco Binetti (Chief Operating Officer – Supply), leading operational management and supply-side development, with a focus on the monetisation of advertising inventory for national and international publishers;
• Walter Ferrari (Chief Marketing Officer), responsible for coordinating marketing strategies, communication and events;
• Luca Nigro (CEO AdKaora Iberia) and Gonzalo Guzman (Co-CEO AdKaora Iberia), leading business development and commercial strategy in the Iberian markets, as well as the expansion of the international publishing network.

Arnoldo Mondadori Editore S.p.A. (LEI Code 815600049A1F9AFE6666) announces the purchase on the Euronext Milan regulated market, in the period 12 – 19 January 2026, of 488,860 ordinary shares (equal to 0.1869% of the share capital) at an average unit price of €2.144598474000736 for a total amount of €1,048,408.41.

These transactions were made under the authorization to purchase treasury shares approved by the Shareholders’ Meeting of 16 April 2025, and as part of the purchase programme to service the Performance Share Plans underway (the “Programme”), the start of which was approved by the Board of Directors on 13 November 2025 (as per the disclosure made on the same date also pursuant to Article 144 bis of CONSOB Regulation 11971/99, and to Article 5 of EU Regulation 596/2014).

The following table details the purchases made per day in the above period of Arnoldo Mondadori Editore S.p.A. ordinary shares, ISIN Code IT0001469383, on a daily basis: