2026

Below is Annex 3F regarding the purchase of Mondadori ordinary shares to the beneficiaries of the 2023-2025 Performance Share plan, established by the Shareholders’ Meeting of 27 April 2023.

TV Sorrisi e Canzoni, the leading brand in the world of entertainment, and Mondadori Academy, the Mondadori Group’s online learning platform, are launching a new educational project dedicated to cinema and the arts that shape it.

From screenwriting to acting, directing, editing and production, the programme offers participants the opportunity to discover the mechanisms behind the world of filmmaking and explore how stories and characters capable of captivating millions of viewers around the world come to life, also thanks to the involvement of well-known industry figures.

A TRAINING PROGRAMME DEDICATED TO THE WORLD OF CINEMA

The training programme created by TV Sorrisi e Canzoni and Mondadori Academy for the world of cinema is structured around five on-demand courses, consisting of video lessons that can be accessed at any time. Its aim is to provide practical tools for exploring the many dimensions of cinematic language.

Through a practical and accessible approach, the programme offers concrete examples and tools to reveal the backstage of an industry that is both widely loved and still largely unfamiliar to the general public.

This unique educational offering is divided into five courses, each lasting between 90 and 120 minutes:

• Course 1 – “Writing a Film: From the First Idea to the Screenplay”, with screenwriter Doriana Leondeff;
• Course 2 – “Learning to Act: From Technique to Performance”, with actress Ivana Lotito;
• Course 3 – “Building a Film: From Vision to Production”, with film director Valerio Vestoso;
• Course 4 – “Editing a Film: From Footage to Final Cut”, with film editor Giogiò Franchini;
• Course 5 – “Producing a Film: From Concept to Set and Market”, with film producer Marco Belardi.

THE COURSE LEADERS AND THE TOPICS COVERED

This project has been made possible through collaboration with five established professionals from the film industry, who bring their extensive experience to the development of the course content.

Doriana Leondeff – “Writing a Film: From the First Idea to the Screenplay”

Doriana Leondeff, who has just won the David di Donatello Award for Best Adapted Screenplay (2006) for the film Le assaggiatrici, is a screenwriter who, over the course of nearly forty years, has crafted stories that feel natural and deeply rooted in real life. She has written for both cinema and television, won numerous awards, mentored emerging writers and has been a member of the David di Donatello jury since 2001. Among the many directors and creatives she has collaborated with are: Silvio Soldini, Carlo Mazzacurati, Cristina Comencini, Francesca Archibugi and Michele Placido.

Doriana Leondeff will take participants behind the scenes of her creative process, exploring not only three-act structures, but also how characters are “heard” before they are even given a voice. Using a practical and creative approach, the course guides participants through the tools, techniques and processes that transform an intuition into a cinematic story. She will also discuss what happens when an idea collides with the needs of direction or the constraints of editing, and how to preserve the soul of a story within an industry that is, in every respect, a business.

Ivana Lotito – “Learning to Act: From Technique to Performance”

Ivana Lotito is a renowned Italian actress who rose to prominence in 2009 with the box-office comedy Cado dalle nubi by Gennaro Nunziante, alongside Checco Zalone. At the same time, she built a strong television career, appearing in numerous drama series and consolidating her versatility as a performer. One of the defining roles of her career has been her portrayal of Azzurra Avitabile in Gomorra – The Series, beginning in 2016.

In the course, Ivana Lotito offers an in-depth overview of the craft of screen acting, analysing the artistic and technical skills required to build a credible performance.

Valerio Vestoso – “Building a Film: From Vision to Production”

Valerio Vestoso is an acclaimed film director who first entered the world of short films with Tacco 12, a mockumentary centred on the obsession with group dancing. In 2016, he won the Solinas Prize for the screenplay of the series Flash and went on to direct numerous branded content projects and television commercials. His works include the short Ratzinger vuole tornare, the documentary Essere Gigione, the short film Le Buone Maniere and the series Vita da Carlo. He is also the author of the television programme Una pezza di Lundini.

Drawing on his recognised experience in the field, Vestoso offers a structured overview of the creative and production process behind the making of a film.

Giogiò Franchini – “Editing a Film: From Footage to Final Cut”

Giogiò Franchini is a well-known film editor and was the person who introduced digital post-production to Campania: Racconti di Vittoria was the first film edited in Naples using the Avid Film Composer system. Over the years, he has collaborated with directors including Paolo Sorrentino, Jonathan Demme, Antonio Capuano, Andrea Molaioli, Sergio Rubini, Giovanni Veronesi, Valeria Golino and Riccardo Milani. Alongside his professional career, Franchini has long been dedicated to teaching and has delivered lessons, workshops and seminars at institutions including the Holden School in Turin, the Centro Sperimentale di Cinematografia, the University of Naples Federico II and Sapienza University of Rome.

Giogiò Franchini represents that crucial moment when cinema, from a collection of scattered fragments, finally becomes a complete work. Combining theoretical reflection with practical experience, the course explores editing as a decisive stage in cinematic storytelling. From the human dimension of the editor’s work to the practical dynamics of the editing room, it examines the fundamental role of editing in shaping audiovisual narratives.

Marco Belardi – “Producing a Film: From Concept to Set and Market”

Marco Belardi is one of the most highly regarded film producers in Italy. He founded Lotus Production, the company through which he achieved major success and established the partnership that made him widely known: his collaboration with director Paolo Genovese. Their most successful film, Perfetti Sconosciuti (2016), achieved record-breaking box-office results, grossing more than €16 million and becoming the most remade Italian film in the history of world cinema. Over the years, Belardi has also worked with directors such as Paolo Virzì and Gabriele Muccino, collecting David di Donatello Awards, Nastri d’Argento, Golden Globes and Ciak d’Oro awards. Today, he leads Greenboo Production, his new production company, with several film and television projects currently in development.

In the course, Marco Belardi examines the producer’s role as a creative engine. From the initial concept through to distribution, the programme explores the production, creative and economic dynamics of the audiovisual industry, while also providing practical tools for navigating the sector.

The courses are available at www.mondadoriacademy.it.

The cinema-related courses, together with upcoming music-focused courses soon to be launched on Mondadori Academy, will also feature as part of Il Festival dello Spettacolo, the event powered by TV Sorrisi e Canzoni, which will return for its second edition on 6, 7 and 8 November 2026 at Superstudio Più in Via Tortona, Milan. Within the new SORRISI LAB area, visitors will be able to take part in masterclasses and workshops led by leading figures from the film and music industries. These sessions will provide an introductory overview of the themes explored in the online courses, creating a direct bridge between live experience and digital learning.

TV Sorrisi e Canzoni, is a Mondadori Group brand and the go-to source for television and entertainment enthusiasts, reaching 2.6 million readers each month (source: Audipress 2025/I), 4.2 million website users (source: Audiweb Jan–Oct 2025) and 1.15 million fans (source: social insights IG, FB, TikTok, X, YouTube) through a fully integrated multichannel ecosystem spanning magazine, website, social media, events and related products.

Mondadori Academy is the Mondadori Group’s online learning platform which, through the contribution of the Group’s brands, offers innovative, accessible and high-quality training programmes across a wide range of fields, from artificial intelligence and design to manga and entertainment.

From tomorrow, Mondadori Store, Italy’s largest network of bookshops, will be present in the centre of Finale Ligure (Savona) too, with a new space dedicated to books and entertainment.

With this opening, managed under a franchise model, the already extensive network of Mondadori Store locations in Liguria continues to expand, in line with the brand’s strategy of promoting reading and cultural access through local socio-cultural hubs.

The bookshop, which will be inaugurated tomorrow at 5.30 pm, will serve the whole community as a meeting point, hosting cultural events for adults, young people and children, as well as initiatives developed in collaboration with the local municipal administration.

“We want to create a space with a rich offer that also serves as a place for community gathering, organising numerous cultural events designed for all age groups,” says Stefano Adami, Mondadori Store franchise partner and operator of eight other stores, four of which are in Liguria.

The new Mondadori Bookstore spans 100 square metres and offers a catalogue of more than 11,000 titles, from classics to bestsellers, across fiction, non-fiction and international publishing. Special attention is given to younger readers through the We Are Junior format, which includes educational games and illustrated books designed to spark imagination through engaging stories; the Just Comics section,dedicated to manga and comics phenomenon; and My New Romance, a concept aimed at readers of romance fiction, one of today’s most popular genres. The store also features dedicated areas for stationery, toys, gadgets, gift cards and gift boxes.

The Mondadori Bookstore in Finale Ligure also caters to online readers. Customers can stay updated via  its Instagram and Facebook pages. They can also access digital services through Mondadoristore.it to check book availability, place orders, collect in-store or receive home delivery. Services also include Zeercle, which allows customers to sell books, CDs, vinyl records, physical video games, DVDs and Blu-rays in exchange for a gift card equivalent to the assessed value of the items, redeemable in bookshops and on mondadoristore.it

Mondadori Store is Italy’s largest network of bookshops, with more than 500 outlets across the country, from major cities to smaller towns. A nationwide cultural presence, the network operates under the Mondadori Bookstore brand through both directly managed and franchised stores, alongside company-owned bookshops including Mondadori Bookstore | MA, Mondadori Duomo and Rizzoli Milano. Mondadori Store is also active online through its e-commerce website Mondadoristore.it and its book club offering.

MONDADORI BOOKSTORE

Address: Via Garibaldi 63, 17024, Finale Ligure, SV
Opening hours: Monday–Saturday 9.00 am–1.00 pm / 3.00 pm–7.30 pm; Sunday 10.00 am–1.00 pm / 3.00 pm–7.30 pm

Tel. 019.2040963
E-mail: mondadoripietraligure@gmail.com

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On Thursday 28 May at 6.00 pm, Mondadori Store, Italy’s largest network of bookshops, will inaugurate a new store entirely dedicated to books and entertainment in the historic centre of Caserta.

Covering 160 square metres and featuring a modern layout, the new Mondadori Bookstore in Caserta has been designed to offer visitors an immersive, high-quality experience. Readers will be welcomed by a team of passionate booksellers and a catalogue  of more than 8,000 titles, ranging from great classics to bestsellers, across fiction, non-fiction and international publishing.

“The opening of a new bookstore represents a valuable opportunity for the cultural growth of the local community, and our aim is precisely to create a place where people can come together, exchange ideas and connect,” says Giuseppe Munno, Mondadori Store franchise partner. “Reading can, and should, increasingly become a shared experience, while the bookshop itself can evolve into a space for creating culture and new ideas,” Munno adds.

Caserta’s Mondadori Bookstore will feature all the latest releases, with dedicated themed areas designed to cater to every kind of reader. These include We are Junior,  a space for younger readers with educational games and illustrated books to spark their imagination through engaging stories; Just Comics, the section devoted to manga and graphic novels; and My New Romance, the new concept aimed at readers who love the romance genre, one of today’s most popular literary trends. The store will also offer a wide selection of stationery, toys, gadgets and gift cards. The bookshop will also host a variety of events and initiatives, including literary talks, exhibitions, music events, theatre and acting workshops, and educational activities.

The new store will also serve readers online. Customers will be able to keep up to date through its Instagram and Facebook pages, while the digital services available on Mondadoristore.it will allow them to check book availability, place orders, collect purchases in store or have them delivered to their homes. Services will also include Zeercle, which enables customers to sell books, CDs, vinyl records, physical video games, DVDs and Blu-rays in exchange for a gift card corresponding to the assessed value of the items, redeemable in Mondadori bookshops and on mondadoristore.it

Mondadori Store is Italy’s largest network of bookshops, with more than 500 outlets across the country, from major cities to smaller towns. A nationwide cultural presence, the network operates under the Mondadori Bookstore brand through both directly managed and franchised stores, alongside company-owned bookshops including Mondadori Bookstore | MA, Mondadori Duomo and Rizzoli Milano. Mondadori Store is also active online through its e-commerce website Mondadoristore.it and its book club offering.

MONDADORI BOOKSTORE

Address: Via Vincenzo Crispo 7, 81100 Caserta
Opening hours: Monday–Saturday 9.00 am–2.00 pm / 4.00 pm–9.00 pm; Sunday 10.00 am–2.00 pm / 5.00 pm–9.00 pm

Telephone: 346.0965742
E-mail: mondadori.caserta@gmail.com
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The way younger generations view the world of work, build their professional identity and imagine the relationship between life, personal growth and organisations is changing. This is the picture that emerged from “The Dimensions of the New Talent Equation”, the new study developed by Webboh Lab, Italy’s first permanent observatory on Generation Z, created by Webboh together with the Sylla research institute under the scientific direction of Professor Furio Camillo. The research was presented at the Fuori Festival of the Trento Festival of Economics during the panel discussion “The End of the Beginning of Work”, dedicated to the changing nature of work among younger generations.

Based on research conducted by the Webboh Lab Observatory on a sample of more than 3,000 Italians aged between 14 and 30, the study explored the expectations, language and cultural models that are reshaping attitudes towards work in the era of artificial intelligence and identity-driven professions.

According to the research, talent is no longer perceived simply as technical expertise, but rather as a balance between four fundamental dimensions: meaning, or the search for purpose; balance, understood as work-life balance; growth, in terms of personal development; and trust, encompassing reliability and coherence.

“Gen Z is not rejecting work. It is changing the rules of work,” explained Furio Camillo, lecturer at the University of Bologna and Scientific Director of Webboh Lab. “Today, work must have meaning, balance, growth and trust. Talent is no longer just competence: it is expectation.”

THE FOUR DRIVERS OF THE “TALENT EQUATION”

The research shows how young people’s relationship with work is shifting from a purely professional logic to one that is increasingly identity-driven and relational.

Meaning: work must have purpose

An increasing number of young people say they want to identify with what they do. Even when offered good financial conditions, many are willing to leave a company if they do not perceive alignment between themselves and their work.

Balance: work-life balance

Younger generations are not looking for less work, but for work that is sustainable. Sacrifice is no longer seen as a value in itself unless it sits within a broader life balance.

Growth: personal development

Growth is no longer tied solely to career progression. Young people show strong mobility and are ready to move quickly between experiences if they feel their personal development is not advancing.

Trust: reliability and coherence

Retention within organisations increasingly depends on perceived trust. When there is a gap between what a company promises and what it actually delivers, the relationship tends to break down quickly.

THE SIX TALENT EQUATION PROFILES

As Furio Camillo, lecturer at the University of Bologna and Scientific Director of Webboh Lab, puts it: “The difference today is not between those who want to work and those who do not. The difference lies in the different ways of giving meaning to work.”

The research identified six psychographic clusters representing the different ways young Italians experience and interpret the new dimensions of talent and the relationship between individuals and organisations:

• The Conscious Balancers (22%): prioritise balance and reject all-consuming work;
• The Growth Explorers (20.9%): growth-oriented, dynamic and highly mobile;
• The Meaning Seekers (19.3%): place meaning at the centre, viewing work as identity;
• The Security Pragmatists (16.2%): focus on trust in company values and seek stability;
• The Detached (12.4%): low engagement across all dimensions;
• The Fully Engaged (9.2%): highly demanding across all key factors

WORK AS A CULTURAL MATTER

According to the research, the challenges many companies face today in recruitment and retention are not driven solely by a skills gap, but by a deeper transformation in the relationship between people, identity and organisations.

Work is increasingly less understood as a simple role, and more as a space for personal development and self-construction.

In this context, even conflict is changing in nature: it is no longer purely organisational, but cultural and interpretative.

The panel “The End of the Beginning of Work” at the Fuori Festival of the Trento Festival of Economics

The study was presented by Professor Furio Camillo, lecturer at the University of Bologna and Scientific Director of Webboh Lab, during the Fuori Festival panel The End of the Beginning of Work: Access, Artificial Intelligence and Quality of Life in Younger Generations. The discussion featured, alongside Camillo, Giulio Pasqui, co-founder of Webboh; Stefano Visconti, CEO of Incrementoo; Sabrina Dallagiovanna, Sales Manager at Molino Dallagiovanna, one of Italy’s oldest mills; and creator Nikola Greku.

CREATOR VALUE MAP: CREATORS AS MODELS OF CONTEMPORARY WORK

During the event, Webboh Lab also presented the Creator Value Map, a framework designed to analyse digital creators not by fame or follower count, but by the meanings and values they activate among young audiences.

Each survey participant evaluated five creators using around twenty keywords, based on dimensions such as authenticity, usefulness, expressiveness, reflection, engagement and reliability.

To interpret these differences, the research built a model based on two key dimensions:

• on one side, the relationship with work, which can be oriented either towards meaning and personal identity or towards security and stability
• on the other, the way work is experienced, which can be more individual (self-centred) or more collective and relational

By combining these dimensions, the research outlines a genuine “cultural map” of working styles, allowing both young people and creators to be read as symbolic models of contemporary work. These models anticipate new forms of relationship between identity, recognition, public exposure and profession.

In this scenario, there is no longer a single way of working: different cultural maps are emerging, evolving with age and with the ways young people give meaning to work.

The creators featured in the study include: Khaby Lame, Elisa Maino, Luca Campolunghi, Awed, Benedetta Rossi, Nikola Greku, Luis Sal, Camihawke, Giulia De Lellis and Alfa.

For more information, please visit:https://webboh-lab.it/

Webboh Lab, born from the collaboration between Webboh and the research institute Sylla under the scientific supervision of Professor Furio Camillo, is the first Permanent Observatory on Generation Z in Italy. Its goal is to provide an authentic, data-driven picture of Gen Z, giving young people a voice through surveys and research that turn their opinions into actionable insights for companies, institutions, and the media.

Sylla is a research institute specialising in market surveys, economic analysis, marketing studies, and business development. It collaborates with national and international research centres, public institutions, communication agencies, and leading Italian universities including Bologna, Genoa, Trento, Turin, Politecnico di Milano, Università Cattolica di Milano, and Bicocca di Milano. Sylla is a member of ESOMAR and operates in full compliance with international professional ethics codes.

Webboh is a leading media brand for NewGen audiences. Founded in 2019, it has been part of the Mondadori Group since 2023. It records a monthly web and social reach of over 5 million users (source: Comscore social incremental reach, March 2026) and a community of 6 million followers across TikTok, Instagram, YouTube and WhatsApp. It consistently ranks among the top ten most influential Italian media outlets on social platforms and is the leading brand for Generation Z in terms of engagement and video views (source: Prima Comunicazione Top Italian Media ranking).

Arnoldo Mondadori Editore S.p.A. hereby announces that the minutes of the Ordinary Shareholders’ Meeting held on 21 April 2026 are publicly available to the public at the Company’s registered office, at the authorised storage mechanism “1info” (www.1info.it) and on the website www.mondadorigroup.com (Governance/Shareholders’ Meeting section).

The Mondadori Duomo bookstore is once again set to become a must-visit destination for fans of anime and Japanese pop culture: from 26 May to 8 June,the famous bookstore in the heart of Piazza Duomo will host a pop-up store dedicated to one of the most beloved anime series of all time, ONE PIECE, the global phenomenon created by Eiichiro Oda which, for almost thirty years, has continued to captivate millions of fans worldwide through anime, manga, films and merchandise.

The Mondadori Duomo bookstore – a go-to destination for fans of comics and the manga universe thanks to its Just Comics section – will be decked out for two weeks in the colours and imagery of ONE PIECE: the bookshop’s windows and spaces will be completely transformed with displays, iconic visuals and the characters of the saga, led by Monkey D. Luffy, turning the shop into an immersive experience designed for fans, the curious and newcomers alike.

The Pop-up Store will offer a wide selection of official ONE PIECE merchandise, ranging from iconic figures and collectables by Bandai, Banpresto and Funko Pop, to a special range of exclusive merchandise from Toei Animation, available only at the ONE PIECE Pop-up Store Duomo. Fans can look forward to some of the most eagerly awaited exclusives, including special collectable figures dedicated to Luffy, Marshall D. Teach and the Egghead saga, as well as unique capsule collections inspired by Elbaph, featuring accessories, clothing and lifestyle items.

The occasion will feature special activities and events for the community: from a photo opportunity with a personalised instant photo on Sunday 31, to the One Piece treasure hunt in the main Mondadori Store bookshops in Milan on Saturday 6 June.

The event will offer anime fans an immersive experience, plus the chance to receive a free exclusive T-shirt. The shops taking part in this latest initiative are: Mondadori Duomo, the Mondadori Bookstores at 48 Corso Buenos Aires, 41 Via Marghera and 78/80 Corso di Porta Romana.

Further details will be announced directly on Mondadori Duomo’s social media channels and on the website https://www.mondadoristore.it/evento/one-piece-pop-up-store-non-fartelo-raccontare-salpa-con-noi/22886

With over a thousand episodes and a steadily growing global fanbase, ONE PIECE remains one of the most influential animation brands in contemporary pop culture, captivating both long-standing fans of the series and new generations alike.

Mondadori Store is the largest bookshop network in Italy, with more than 500 stores in cities and smaller towns. Cultural centres throughout the country operating under the Mondadori Bookstore brand, both directly managed and franchises, alongside the bookshops owned by Mondadori Bookstore | MA, Mondadori Duomo and Rizzoli Milano. Mondadori Store can be found online at its e-commerce site, Mondadoristore.it, and through its book club.

About One Piece

One Piece is an anime series based on the manga of the same name, created by Eiichiro Oda in 1997. Since its debut, the One Piece manga has become a global phenomenon, with over 600 million copies sold worldwide. Produced by Toei Animation since 1999, the anime series has now aired over 1,160 episodes.

About Toei Animation Europe

Headquartered in Tokyo, with sales offices in Los Angeles, Hong Kong and Paris, Toei Animation is one of the world’s most prolific animation studios. Its activities include the development and production of animation, as well as global marketing and licensing programmes. Founded in 2004, Toei Animation Europe is responsible for the distribution and exploitation of Toei Animation series in Europe, Africa and the Middle East. Its most famous series include: CAPTAIN HARLOCK, DRAGON BALL, SAINT SEIYA, PRETTY GUARDIAN SAILOR MOON, DIGIMON and ONE PIECE.

GialloZafferano is once again taking centre stage at TuttoFood, the food industry’s leading trade fair, with a packed programme of events and content.

Throughout the event, the leading media brand for Italian cuisine will welcome visitors to the GZ Lounge: a new space designed to bring together the industry’s most important chefs, entrepreneurs, buyers and creators.

The event is an opportunity to share with your community, directly from TuttoFood, how food is increasingly becoming a powerful cultural tool for cohesion and connection, as well as a consumer good. This vision is in line with the Food Manifesto, the charter of values promoted by Fiere di Parma, which GialloZafferano embodies and promotes every day through its storytelling in Italy and internationally: from daily content to the video formats of Social TV – Mondadori Digital’s cross-brand ecosystem, which reaches over 21 million Italians every month via the web and social media platforms – right through to GialloZafferano USA, the new company through which the brand acts as an ambassador for Italian cuisine in the United States.

GIALLOZAFFERANO LOUNGE: EXPERIENCES AND SOCIAL MEDIA CONTENT
The GZ Lounge is the operational base for GialloZafferano and its team at TuttoFood. It is located in the centre of Corso Italia, the main street of Rho Fiera Milano. Its hospitality area is dedicated to meetings with buyers, trade professionals and industry experts: a welcoming space, designed to allow visitors to take a break from the hustle and bustle of the exhibition and relax. Food is always the focus there thanks to the guests, creators and chefs from Zenzero Talent Agency– Mondadori Digital’s specialist food agency – who will be bringing all the exhibition halls to life with cooking demonstrations and interviews.

FOUR DAYS OF CONTENT
One of the new features GialloZafferano is bringing to TuttoFood this year is the “Food Clip” video format: short social media clips filmed directly at the stands, in which the brand’s creators meet entrepreneurs, buyers and producers attending the fair. Straightforward questions, honest answers and no script, giving the public a vivid insight into what is happening in the global food industry. Lulù Gargari, GialloZafferano’s brand ambassador in Italy and a talent at Zenzero Talent Agency, will also be there as an interviewer, engaging guests at the GZ Lounge with questions and activities. The short videos will be posted in real time on GialloZafferano’s social media channels, reaching a community of over 72 million followers.

Every day in the GZ Lounge begins with Il Caffè del Buongiorno courtesy of Caffè Verzì, followed by live cooking demonstrations and tasting experiences featuring the talent from GialloZafferano and the brand partners at the fair. Sebastian Fitarau – resident chef atGialloZafferano and creator at Zenzero Talent Agency – along with Daniele Rossi, Rosy Chin and Luisa Orizio – chefs and creators at Zenzero Talent Agency – are bringing their culinary flair to the Lounge and showcasing their style in the Deliziosa, Mulino Caputo and Olio Coricelli pavilions. The programme is rounded off each day with tasting experiences hosted by our partner brands and Cantine Paolini. The combination of a relaxed atmosphere and spectacular cuisine has made GZ Lounge, as early as 2025, a key space at the trade fair for food industry and communication professionals.

The communications project has been developed with the support of the Sales, Marketing & Integrated Media Solutions Department at the Mediaset Group.

GialloZafferano is the leading Italian food media platform both in Italy and internationally: with a global following of 72 million and over 500 million video views generated outside Italy in 2025, it is the go-to digital destination for anyone wishing to showcase Italian cuisine to the world.

Zenzero Talent Agency, the agency that exclusively manages the top food creators on the Italian digital scene, has over 43 million followers across 30 creators in Italy and the US.

On Saturday 16 May at 10.00 am, Mondadori Store, Italy’s largest network of bookshops, will open a new bookstore in Marano di Napoli (NA): a space dedicated to books and entertainment, designed to offer the public a high-quality experience. The opening event will feature the traditional ribbon-cutting ceremony and will be attended by local officials.

Covering an area of around 200 square metres and featuring a modern layout, the new Mondadori Bookstore is open every day from 8.30 am to 1.00 pm and from 4.30 pm to 8.00 pm: it has been designed to meet the needs of all types of customers, with the aim of spreading culture and promoting reading. Readers are welcomed by the passionate booksellers at the shop in Corso Umberto I 79 and a catalogue of 10,000 titles, ranging from the great classics to bestsellers, including fiction, non-fiction and miscellaneous works.

“We are proud to be able to enrich the cultural scene in our local area, with the aim of creating new meeting places for people of all ages through a wide range of events and activities,” comments Margherita Mauriello, a Mondadori Store franchisee with over twenty years’ experience in the stationery sector.

The bookstore stocks all the latest releases, with dedicated themed sections designed to cater to every reader’s tastes, such as We are Junior, a space for younger readers featuring educational games and picture books to spark their imagination with the most intriguing stories; Just Comics, the section dedicated to the world of manga and comics; and My New Romance, the new concept aimed at fans of romance, one of the most popular literary genres of the moment. Finally, the shop’s range is complemented by a selection of books in their original languages, as well as a large section dedicated to stationery, toys, gadgets and gift cards. The bookshop will also host a range of events, such as reading groups, educational workshops and meetings with authors.

The Mondadori Bookstore in Marano di Napoli also serves readers online: customers can be updated on all the activities and events planned through Facebook page. They will also be able to get in touch with the bookshop through Mondadoristore.it digital services to check if a book is available, order it and pick it up in store or have it shipped to their home. Services include Zeercle, where people can sell their books, as well as CDs, vinyl records, video games, DVDs and Blu-rays, receiving a gift card for the value of the items in return, for use in bookshops and on the website mondadoristore.it

Mondadori Store is the largest bookshop network in Italy, with more than 500 stores in cities and smaller towns. Cultural centres throughout the country operating under the Mondadori Bookstore brand, both directly managed and franchises, alongside the bookshops owned by Mondadori Bookstore | MA, Mondadori Duomo and Rizzoli Milano. Mondadori Store can be found online at its e-commerce site, Mondadoristore.it, and through its book club.

Today, the meeting of the Board of Directors of Arnoldo Mondadori Editore S.p.A., chaired by Marina Berlusconi, reviewed and approved the Interim Management Statement at 31 March 2026 presented by Chief Executive Officer and General Manager Antonio Porro.

“The first-quarter results confirm the strength of our Group and its ability to grow across its key segments. 2026 got off to a strong start with strategic transactions that further strengthened our competitive positioning, beginning with digital: the acquisition of Edilportale.com has consolidated our leadership and enabled our new Digital area to achieve greater scale. Our M&A activities also continued after the close of the quarter and, a few weeks ago, we acquired the school and university publishing business unit of Hoepli: a historic and highly prestigious brand that will strengthen our catalogue in key areas and specific segments”, said Antonio Porro, Chief Executive Officer and General Manager of the Mondadori Group. “The book market has shown signs of improvement, due to the provisions set aside for libraries, with our publishing houses increasing both revenue and profitability. As for Retail, the business model proved solid and resilient, thanks to the strength and extensive reach of the physical network, which has continued to grow. In Media, the Group benefited from certain successful operations in add-on sales”, Mr Porro concluded.

GROUP PERFORMANCE AT 31 MARCH 2026

In Q1 2026, consolidated revenue totalled 170.9 million euro, up by 3.9% versus 164.4 million euro at 31 March 2025. Like-for-like (resulting from the consolidation of the companies MA Retail, starting 1 December 2025, and Edilportale.com, starting 1 January 2026) – revenue was substantially stable (+0.7%).

Adjusted EBITDA amounted to € 1.3 million, down slightly from € 1.8 million as at 31 March 2025 due to certain temporary effects recorded in the Education Books area, arising in particular from the early production and distribution of materials intended for teachers following the changes introduced by the New National Guidelines.

The Group’s reported EBITDA amounted to € -1.1 million, a decline of approximately € 2.4 million compared with the corresponding period of the previous financial year, due to higher non-recurring costs, partly attributable to expenses relating to extraordinary transactions completed during the quarter under review.

The Mondadori Group’s EBIT, of € -18.3 million, showed a decrease of € 4.4 million compared with the first quarter of 2025, attributable, in addition to the factors described above which led to a reduction in EBITDA, to higher depreciation and amortisation totalling € 2 million, arising from investments made in FY 2025. Excluding extraordinary items and the amortisation resulting from the Purchase Price Allocation (PPA) of companies acquired over the last five years, Adjusted EBIT for Q1 2026 would stand at € -13.8 million, compared to € -11.4 million in the previous year, thus limiting the decrease to approximately €2.4 million.

The consolidated result before tax was € -20.9 million, down € 4.4 million compared with € -16.4 million as at 31 March 2025: the trend was entirely attributable to the operating result dynamics already described, as the increase of € 0.4 million in financial expense was fully offset by an improvement of an equivalent amount in the results of associates.

The Group’s net profit as at 31 March 2026, after minority interests, was € -16.3 million, a decrease of € 3.3 million compared with the € -13 million in the first quarter of FY 2025. Tax income for the period amounted to € 4.7 million, up from € 3.5 million as at 31 March 2025 as a result of the lower pre-tax result.

Adjusted Net Profit, neutralised of all non-recurring items and amortisation deriving from the Purchase Price Allocation (PPA) for the companies acquired in the last five years, net of the related tax effect, would be € -13 million, down € 1.8 million compared to € -11.2 million for the first quarter of the previous year.

Cash flow from ordinary operations (i.e. after cash-out for financial expense and tax) in the twelve months prior to 31 March 2026 amounted to approximately € 62 million. This result – despite the logistics disruption that negatively affected e-commerce revenue in the Retail area during the first quarter of 2026 – enables the Group to continue financing its inorganic growth strategy and to provide increasing remuneration to shareholders.

As of 31 March 2026, extraordinary cash flow was negative by around € 55 million, primarily reflecting disbursements of approximately € 44 million related to the net impact of acquisitions and disposals, about € 4 million in restructuring costs, and roughly € 2 million for the renovation of the Segrate headquarters – as well as € 36.5 million for dividends distributed in the last 12 months.

The Net Financial Position excluding IFRS 16 as at 31 March 2026 amounted to € -164.3 million (net debt), compared with the € -134.1 million as at 31 March 2025, due to the above-described cash flow trends. The IFRS 16 Net Financial Position at 31 March 2026, of € -251.6 million (net debt), had also increased compared to the € -212.8 million as at 31 March 2025, for the same phenomena.

OUTLOOK FOR THE YEAR

In light of the results achieved in the first quarter and the positive trend of the Book market over the following weeks too, the Group believes it can confirm the previously communicated estimates for FY 2026.

Income Statement

• Low single-digit revenue
• Low single-digit growth in Adjusted EBITDA, with margins remaining stable at around 17%. This outlook also reflects ongoing efficiency measures across all business It is worth noting that the Group launched a multi-year structural optimisation plan designed to enhance operational efficiency and support profitable growth and cash generation over the medium term.

Cash Flow and Net Financial Position

The Group is expected to confirm its significant cash generation capacity with an Ordinary Cash Flow in the range of € 65 to 70 million.

PERFORMANCE OF THE BUSINESS AREAS AT 31 MARCH 2026

• TRADE BOOKS AREA

In 2026, the Book market got off to a positive start, recording value growth of 3.4%, supported by libraries’ access to government grants, from which only the physical channel benefited.

Against this market backdrop, the Mondadori Group Trade publishing houses recorded sell-out value growth of 2.2% in the first quarter compared with the corresponding period of the previous financial year, with growth concentrated in February and March (+7% and +2.3% respectively). January, by contrast, was affected by both the comparison with the same period of the previous financial year, when the highly successful title “Spera. L’autobiografia” (Hope. The Autobiography) by Pope Francis was published by Mondadori and by certain logistics inefficiencies deriving from the operator change.

In Q1 2026 the Mondadori Group confirmed its leadership position in the domestic market, with a market share of 26.1%, and placed four titles in the top ten bestsellers.

In Q1 2026, revenue from the Area amounted to € 89.2 million, up by 2.8% versus € 86.8 million in the same period of the previous financial year. At like-for-like Euro/Dollar exchange rates, the Area’s comprehensive growth came to over 4%.

Adjusted EBITDA amounted to € 10.4 million, up by 9.1% compared with € 9.6 million in the first three months of 2025, attributable both to higher margins generated by strong publishing performance and to a reduction in the percentage incidence of the cost structure.

• EDUCATION BOOKS AREA

School textbooks experience a typical seasonal performance that sees sales concentrated in the second half of the year following the adoption campaign: consequently, revenue from the first three months of the year is not representative of the whole year trend as it typically accounts for less than 5% of the annual figure.

In the first quarter of 2026, the Area’s revenue amounted to € 7.8 million, a decline of 9.8% compared with the € 8.7 million in the first quarter of 2025.

Adjusted EBITDA for the Education Books area in the first quarter of FY 2026 amounted to € -15.1 million, compared with € -13.2 million recorded in the corresponding period of 2025, mainly due to temporary factors, including higher promotional expenses related to an earlier commercial marketing campaign, also resulting from changes to school curricula introduced by the New National Guidelines.

• RETAIL AREA

As already mentioned, during the first quarter of 2026, the book market in Italy recorded growth of 3.4%2 compared with the same period of the previous financial year.

Within this context, a divergent trend emerged between the excellent performance of the physical channel (+6.6%), which benefited from the effects of the refinancing of the Library Fund (Fondo Biblioteche), and the contraction of the online channel (estimated at -2.2%).

Against this backdrop, in the first quarter of 2026, the Mondadori Group’s Retail area confirmed the resilience of its business model, reporting growth in EBITDA despite a slight decline in e-commerce revenue, attributable to temporary logistics disruptions linked to the transition to a new operator.

In the first quarter of 2026, the Group confirmed its leadership in the physical channel, where its market share is close to 20%, while overall market share stood at 12.7%.

Sell-out of book products increased by 1.7%.

Overall, in the first quarter of FY 2026, the Retail area recorded revenue of € 46.3 million, down slightly (-1.7%) compared with € 47.1 million in the corresponding period of the previous financial year due to the exogenous factors already described (logistics services).

Excluding this non-recurring effect, Mondadori Retail recorded solid growth of 2.3% (€ +1.1 million), confirming the strength of the physical channel business.

Adjusted EBITDA amounted to € 2.8 million, representing significant growth of approximately 23% compared with € 2.2 million in the same period of the previous financial year (€ +0.5 million). This increase was driven by the positive performance of the physical channel: the high margins generated by physical stores (both directly managed and franchised) more than fully offset the decline in on-line revenue.

• DIGITAL AREA

With effect from 1 January 2026, all digital activities held by Mondadori Media S.p.A. were transferred, as a result of an intragroup demerger, to the newly established Mondadori Digital S.p.A., wholly owned by the parent company Arnoldo Mondadori Editore S.p.A..

Also consolidated within the scope of the new Digital area are the results of Edilportale.com S.p.A. – a company operating internationally, including through the Archiproducts brand, in the development of content, services and platforms for the architecture, design and construction markets – in which Arnoldo Mondadori Editore S.p.A. completed the acquisition of a majority stake (58.84%) on 15 January 2026.

In the first quarter of FY 2026, the Digital area recorded revenue of € 24.2 million, reporting significant growth of more than 30% compared with the previous financial year, driven by the combined effect of the change in scope – linked to the consolidation of Edilportale.com – and strong business performance, particularly in MarTech activities: organic growth in the quarter under review stood at 5.3%.

Adjusted EBITDA came to € 3.3 million, showing growth of 68.2% compared to the same period of the previous year, mainly due to the consolidation of Edilportale.com and higher revenue recorded by all other digital businesses.

• MEDIA AREA

In the first quarter of 2026, revenue in the Media area amounted to € 16.5 million, up by 6.3% compared with 31 March 2025, driven by the increase in add-on sales recorded during the period under review, which more than offset the decline in circulation.

Adjusted EBITDA amounted to € 2.3 million, compared with € 3.5 million in the corresponding period of the previous financial year, with a reduction mainly attributable to lower income from government grants of € 0.4 million and advertising costs incurred during the quarter for the launch of new add-on sales initiatives.

2026-2028 PERFORMANCE SHARE PLAN: ASSIGNMENT OF RIGHTS

The Board of Directors, with the support of the Remuneration and Appointments Committee, resolved on the assignments to the beneficiaries of the rights relating to the 2026-2028 Performance Share Plan, established by resolution of the Shareholders’ Meeting of 21 April 2026.

The rights granted will be exercisable at the end of the three-year reference period, subject to the achievement of the performance targets underlying the plan.

Information regarding the beneficiaries and the number of rights assigned are shown – by name, for the beneficiaries who are members of the Board of Directors, and in aggregate form for the other beneficiaries – in the table attached, prepared in compliance with Box 1, Schedule no. 7 of Annex 3A of the Issuer Regulation. The detailed terms and conditions of the plan are set out in the Directors’ Explanatory Report to the Shareholders’ Meeting of 21 April 2026 and in the information document prepared pursuant to Article 84-bis, paragraph 1 of the Issuers’ Regulation, available on the website www.mondadorigroup.com, Governance/Shareholders’ Meeting section and on the authorised storage mechanism “1info” to the contents of which reference should be made.

DETERMINATION OF SHARES ATTRIBUTABLE TO THE 2025 SHORT-TERM INCENTIVE PLAN (MBO)

The Board of Directors, with the support of the Remuneration and Appointments Committee, has determined – after verifying the achievement of the relevant individual and Group performance targets – the number of Arnoldo Mondadori Editore S.p.A. shares attributable to the beneficiaries of the Short-Term Incentive Plan (MBO) for FY 2025, established by resolution of the Shareholders’ Meeting of 16 April 2025.

In particular, the plan envisages, on a voluntary basis, the conversion into Arnoldo Mondadori Editore S.p.A. shares of a percentage component equal to 15% or 30% of the variable remuneration (MBO) accrued in connection with FY 2025, as well as the disbursement of an additional “bonus” component in shares, equal to the number of shares resulting from the conversion. In accordance with the rules of the plan, the actual allocation to the beneficiaries of the total share component will take place in May 2028, following a 24-month deferral period from the vesting date of the 2025 MBO.

The detailed terms and conditions of the 2025 short-term incentive plan (MBO) are set out in the Directors’ Explanatory Report to the Shareholders’ Meeting of 16 April 2025 and in the information document prepared pursuant to Article 84-bis, paragraph 1 of the Issuers’ Regulation, available on the website www.mondadorigroup.com Governance/Shareholders’ Meeting section and on the authorised storage mechanism “1info” to the contents of which reference should be made.

Information regarding the beneficiaries and the number of Mondadori rights attributable to them are shown – by name, for the beneficiaries who are members of the Board of Directors, and in aggregate form for the other beneficiaries – in the table attached, prepared in compliance with Box 1, Schedule no. 7 of Annex 3A of the Issuer Regulation.

The Interim Management Statement at 31 March 2026 is made available by today through the authorised storage mechanism “1Info” (www.1Info.it), on the website www.mondadorigroup.com (Investors section) and at the registered office.

The presentation of the results at 31 March 2026, approved today by the Board of Directors, is available on www.1info.it and on www.mondadorigroup.com (Investors section). A Q&A session will be held in conference call mode at 5.00 p.m. for the financial community, attended by the CEO of the Mondadori Group, Antonio Porro, and the CFO, Alessandro Franzosi. Journalists will be able to follow the meeting in listening mode only, by connecting to the following phone number +39 02 8020927 or via web at: https://hditalia.choruscall.com/?calltype=2&info=company

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.

Annexes:

1. Consolidated Statements of Financial Position
2. Consolidated Income Statement
3. Group cash flow
4. Glossary of terms and alternative performance measures used
5. Information pursuant to Schedule 7 of Annex 3a to CONSOB Regulation 11971/1999 – Remuneration plans based on financial instruments: 2026-2028 Performance Share Plan
6. Information pursuant to Schedule 7 of Annex 3a to CONSOB Regulation 11971/1999 – Remuneration plans based on financial instruments: 2025 Incentive Plan MBO