AC MILAN: SHAREHOLDERS' MEETING APPROVES FINANCIAL STATEMENTS AS OF 30 JUNE 2026

The Shareholders' Meeting of AC Milan today approved the financial statements for the fiscal year ended June 30, 2026.

The Group closed the 2025/26 fiscal year with revenue of €464.6 million and a net loss of approximately €24 million. The solid and diversified business model built over recent years, supported by operational excellence and cost control, enabled AC Milan to absorb a significant portion of the financial impact of its absence from European competitions, demonstrating the Club's underlying stability and strength. Commercial performance remained strong, with sponsorship revenue exceeding €100 million and average attendance surpassing 72,000 fans per match, the highest in Serie A for the second consecutive season.

Building on these foundations, AC Milan is entering a new phase of investment, supported by RedBird's long-term commitment and owner-operator approach, combining capital, operational expertise and execution capabilities to drive the Club's growth and competitiveness.

Paolo Scaroni, Chairman of the Board of AC Milan, said: "These results demonstrate the resilience of our business model in a challenging season. Gerry Cardinale’s leadership, combined with RedBird’s long-term investment and operational expertise, has driven the Club’s progress and continues to shape its future, with sporting competitiveness remaining the key priority. The appointment of Massimo Calvelli as CEO reflects this direction. And the new stadium, whose design we will unveil today, demonstrates the value of this approach: a transformative investment for AC Milan, our fans, the city of Milan and Italian football."

RedBird's strategic leadership, execution capabilities and international network have played a pivotal role in accelerating the development of the new stadium project. Following the acquisition of the San Siro area in November 2025, the unveiling of the stadium design later today marks another major milestone towards delivering a world-class venue designed to transform the fan experience, unlock new revenue opportunities and strengthen AC Milan’s ability to compete at the highest level.

For the second consecutive year, AC Milan publishes its Sustainability Report alongside its financial statements, building on its longstanding commitment to sustainability reporting. The Club was the first non-listed Italian football club to align the publication of the two reports, reinforcing its commitment to transparency and accountability. Through Fondazione Milan, the Club harnesses the power of football as a catalyst for positive social change, promoting education, inclusion and wellbeing, and creating opportunities for young people and communities in Italy and around the world.