ITF

2. Basis of consolidation (continued) Joint ventures Interest in joint ventures are accounted for using the equity method of accounting, the investments are initially recognised at cost and adjusted thereafter to recognise the groups share of the post-acquisition profits or losses of the investee in the consolidated income statement, and the groups share of movements in other comprehensive income of the investee in other comprehensive income. Dividends received or receivable from joint ventures are recognised as a reduction in the carrying amount of the investment. Where the group's share of losses in an equity-accounted investment equals or exceeds its interest in the entity, including any other unsecured long-term receivables, the group does not recognise further losses, unless it has incurred obligations or made payments on behalf of the other entity. Unrealised gains on transactions between the group and its joint ventures are eliminated to the extent of the group's interest in these entities. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred. Accounting policies of equity-accounted investees are changed where necessary to ensure consistency with the policies adopted by the group. The carrying amount of equity-accounted investments is tested for impairment whenever events or changes in circumstances indicate that the carrying amount might not be recoverable. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's fair value less costs of disposal and value in use. During the year, the group undertook an internal reorganisation under common control, resulting in the establishment of BJKCL IP Holdings Ltd and BJKCL Equity Holdings Ltd as non-trading special purpose vehicles. These entities were created to ring-fence the groups intellectual property rights and equity investment relating to the Billie Jean King Cup. The reorganisation had no impact on the groups consolidated equity or profit for the year. 3. Principal activities The International Tennis Federation is the global guardian of tennis, one of the most widely played sports in the world. Our ambition is to enable tennis experiences for future generations and our purpose is ensuring the growth and sustainability of tennis as a global sport. 4. Changes in accounting policies – new and amended standards adopted by the group The group applied the following amendments for the first time for their annual reporting period commencing 1 January 2025: • Disclosure of Accounting Policies – Amendment to IAS 1 – Non-Current Liabilities with Covenants. • Disclosure of Accounting Policies – Amendment to IFRS 16 – Leases on Sales and Leaseback • Disclosure of Accounting Policies – Amendment to IAS 7 and IFRS 17 – Supplier Finance. The amendments listed above did not have any impact on the amounts recognised in the financial statements. New standards and interpretations not yet adopted Certain new accounting standards and interpretations have been published that are not mandatory for 31 December 2025 reporting periods and have not been early adopted by the group. These standards are not expected to have a material impact on the group in the current or future reporting periods and on foreseeable future transactions. ITF Trust Annual Report and Consolidated Financial Statements 19

• Cover