Juventus Football Club S p A : Annual financial reporting at 30 June 2022

ANNUAL FINANCIAL REPORT AT 30 JUNE 2022

Approved by the Board of Directors on 2 December 2022

SUMMARY
Report on Operations	p.	3
Board of Directors, Board of Statutory Auditors and Independent Auditors	p.	4
Group profile	p.	5
Corporate Governance Report and Remuneration Report	p.	12
Main risks and uncertainties to which Juventus is exposed	p.	13
Significant events in the 2021/2022 financial year	p.	23
Review of results for the 2021/2022 financial year	p.	28
Significant events after 30 June 2022	p.	32
Business outlook	p.	40
Human resources and organisation	p.	41
Other information	p.	44
Proposal to approve the financial statements and cover losses for the year	p.	45

Consolidated financial statements at 30 June 2022	p.	46
Consolidated statement of financial position	p.	47
Consolidated income statement	p.	49
Consolidated statement of comprehensive income	p.	50
Statement of changes in consolidated shareholders' equity	p.	51
Consolidated cash flow statement	p.	52
Notes to the financial statements	p.	53
Certification pursuant to Art. 154-bis of Italian Legislative Decree no. 58/1998	p. 134

Financial Statements at 30 June 2022	p. 135
Statement of financial position	p. 136
Income statement	p. 138
Statement of comprehensive income	p. 139
Statement of changes in shareholders' equity	p. 140
Statement of cash flows	p. 141
Notes to the financial statements	p. 142
Proposal to approve the financial statements and cover losses for the year	p. 235
Certification pursuant to Art. 154-bis of Italian Legislative Decree no. 58/1998	p. 239

_______________________________________________________________________________________________________

This document is available on the Company's website www.juventus.com

2

REPORT ON OPERATIONS

Financial report at 30 June 2022 - Report on operations

3

BOARD OF DIRECTORS, BOARD OF STATUTORY AUDITORS AND INDEPENDENT AUDITORS

Board of Directors*
Chairman	Andrea Agnelli
Vice Chairman	Pavel Nedved
Chief Executive Officer	Maurizio Arrivabene
Non-executive and non-independent Directors	Laurence Debroux
	Suzanne Heywood1
	Francesco Roncaglio
Independent Directors	Massimo Della Ragione
	Kathryn Frances Fink
	Giorgio Tacchia

Remuneration and Appointments Committee

Kathryn Frances Fink (Chairwoman), Francesco Roncaglio and Giorgio Tacchia

Control and Risk Committee

Massimo Della Ragione (Chairman), Laurence Debroux and Giorgio Tacchia

Related-Party Transactions Committee

Massimo Della Ragione (Chairman), Laurence Debroux and Giorgio Tacchia

ESG Committee

Suzanne Heywood (Chairwoman) and Laurence Debroux

Board of Statutory Auditors
Chairman	Roberto Spada
Standing Auditors	Maria Cristina Zoppo
	Alessandro Forte
Alternate Auditors	Maria Luisa Mosconi
	Roberto Petrignani
Independent Auditors**
Deloitte & Touche S.p.A.

_______________________________________________________________

• Due to the loss of the majority of the Directors in office as a result of the resignations presented by Andrea Agnelli, Pavel Nedved, Maurizio Arrabene, Laurence Debroux, Suzanne Heywood, Francesco Roncaglio, Massimo Della Ragione, Katryn Frances Fink and Giorgio Tacquia on 28 November 2022, pursuant to the law and the Articles of Association, the entire Board of Directors is to be considered terminated. The Board will continue with its activities beyond its termination until the Shareholders' Meeting for appointment of the new Board of Directors, which has been called for 18 January 2023 (with the exception of director Daniela Marilungo who resigned separately).

**The appointment of the Independent Auditors will expire on the date of the Shareholders' Meeting called to approve the Financial Statements at 30 June 2024.

1 Co-opted by the Board of Directors on 30 December 2021 to replace Laura Zanetti who resigned on 28 December 2021.

Financial report at 30 June 2022 - Report on operations

4

GROUP PROFILE

The Juventus Football Club S.p.A. (hereinafter, "Juventus", the "Company" or the "Issuer") is the parent company of the Juventus Football Club group (hereinafter the "Group" or the "Juventus Group"). The Company's headquarters are in Via Druento no. 175, Turin, Italy.

Juventus is a listed professional football club, which, thanks to its more than century-long history, has become one of the most representative and popular teams at a national and international level. The Company's core business is participation in domestic and international football competitions and the organisation of matches. The main sources of income come from the licensing of audiovisual and media rights (in relation to the matches played), sponsorships, revenues from the stadium, direct retail, e- commerce and trademark licensing for the creation of products, as well as the marketing of additional services to fans. Another source of core revenues derives from the management of players' registration rights.

Juventus' shares are listed on the Euronext Milan, a regulated market organised and managed by Borsa Italiana S.p.A. ("EXM").

Juventus is controlled by EXOR N.V., a Dutch company based in Amsterdam (Netherlands), only listed from 27 September 2022 on Euronext Amsterdam, a regulated market organised and managed by Euronext Amsterdam N.V., which holds 63.8% of the share capital (equal to 77.87% of voting rights). EXOR N.V. is one of the main European investment firms and is controlled by Giovanni Agnelli B.V.

Lindsell Train Ltd. holds 11.9% of Juventus' share capital (i.e. 6.95% of the voting rights) and the remaining 24.3% is the portion of share capital circulated on the market (free float).

The history of Juventus

A group of friends, united by a passion for football, a special game that had recently been "imported" from England, met on a bench on Corso Re Umberto, one of the major boulevards in the centre of Turin. They had an intriguing idea: to create a sports club just for football. The boys attended Massimo D'Azeglio high school which specialised in Classical studies, they were well-educated and none of them was over age 17. For this reason they chose the name Juventus, which means "youth" in Latin". It was 1 November 1897. They didn't realise it, but they had just given birth to a legend.

And so, almost by chance, Italy's greatest football team got its start. The Club's first chairman was Enrico Canfari, its first pitch was in Piazza d'Armi and its first jersey was pink. Juventus made its début, in 1900, in the National Championship wearing the same jersey. Three years later, the Bianconero (black and white) appeared, imported from Nottingham. And five years later, in 1905, the first Italian title arrived, after an exciting three-teamplay-off with Genoa and Milanese. The president was the Swiss Alfredo Dick who left the Club shortly afterwards following locker-room arguments and various complaints. He went on to establish Torino and took the best foreign players with him. Juventus witnessed hard times in subsequent years lasting until the beginning of WWI due to being unable to compete with the new football powerhouses of the time, Pro Vercelli and Casale. However, straight after the first world war, Juventus returned to the top again: goalkeeper Giacone and fullbacks Novo and Bruna were the first Juventus players to wear the National Team's jersey. The Chairman was the poet and man of words Corradino Corradini, who also penned the Juventus anthem used until the 60s. 1923 was a special year: Giampiero Combi made his début with the first team, one of the greatest goalkeepers of all times, and even more importantly the Club's leadership changed hands. On 24 July the Shareholders' Meeting elected the new chairman by acclamation: Edoardo Agnelli, the son of the founder of FIAT. The club also had its own pitch now, in Corso Marsiglia. The stands were in masonry and the number of supporters increased day by day. All of the foundations had been laid to progress through the ranks of Italian football and strengthen a team that already boasted players like Combi, Rosetta, Munerati, Bigatto and Grabbi, and its first team manager, the Hungarian Jeno Karoly, and first foreign champion, also from Hungary, left-winger Hirzer.

In 1925/1926 Juventus won their second national championship, following a gripping final with Bologna, beaten only in a play-off and a grand final against Alba Roma. And this was just the beginning: from 1930 to 1935 Juventus was way out in front and five consecutive national league titles arrived in Turin. The stars of the "Golden five-year period" were the manager Carlo Carcano and champions such as Orsi, Caligaris, Monti, Cesarini, Varglien I and II, Bertolini, Ferrari and Borel II. Juventus also made a major contribution to the National Team, who won the world Cup in Rome in 1934. During the 1930's the team also had their first experience in international football, taking part in the European Cup, the illustrious predecessor of the current Champions League. Luck was not on their side, but they did make four semi-final appearances.

Financial report at 30 June 2022 - Report on operations

5