ITF

Welcome to the 2025 Annual Report and audited consolidated Financial Statements of the ITF Trust. The consolidated financial statements of the ITF Trust ('ITF') make a distinction between Operating Activities, Strategic Activities and Investing Activities. Operating Activities represent the ongoing activities of the ITF whereas Strategic Activities constitute discrete projects aimed specifically at delivering the objectives of the ITF's ITF2024+4 strategy. Investing Activities represent the performance of the investment portfolios which underpin the ITF's reserves. The comprehensive result for the year is a deficit of $12.3m (2024: deficit of $9.6m) with Investing Activities net income of $4.0m (2024: $2.1m) offsetting $1.1m of Strategic Activities (2024: $3.7m) and providing a positive contribution to the Operating Result. The comprehensive result includes a negative adjustment of $5.9m being the impairment of the Billie Jean King Cup Ltd (BJKCL) Intangible Asset on the Balance Sheet. The impairment was triggered by lower than plan revenues which has led to losses, accounted for in these financial statements on the equity basis. Further information is provided in Note 27. BJKCL financial statements are filed separately and provide further details on the performance of the company. A positive adjustment to the value of cash flow hedges held at the Balance Sheet date of $1.6m (2024: negative $1.9m) reduces the overall deficit to closing Net Assets of $21.2m as of 31 December 2025 (2024: $31.9m). This is below the level previously considered to be acceptable by the Board and has been addressed by reductions to Operating Costs in the 2026 budget and in the revised Reserves Strategy under review by the Board of Directors. Total Income Total income for 2025 was $96.1m (2024: $104.2m) with the reduction in revenues reflecting a change in hosting model for the Davis Cup. The ITF has entered a new three-year contract with the Federazione Italiana Tennis e Padel (FITP) to host the Final 8, and the rounds below the Finals are now played on a home or away basis. The financial arrangements for the Finals secured a hosting fee for the ITF with the FITP being responsible for the delivery costs in exchange for FITP keeping on-site revenues including ticketing and hospitality. Sponsorship revenues were generated by both ITF and FITP with a commission arrangement between both parties. As has been the case since 2023, commercial revenues for the Billie Jean King Cup are accounted for in the BJKCL financial statements and consolidated into these accounts as part of the overall result of the Joint Venture as detailed in Note 27. Sponsorship, competition, and television income has decreased from $56.1m in 2024 to $41.5m in 2025 in line with the reduction in Davis Cup income arising from the change in hosting model explained above. Davis Cup partners for 2025 included Rolex, Visa, Fage, Corpay, Stake, MG and Dunlop. Competition Revenues include the World Tennis Tour which has maintained continued growth in events with 11,686 men and women competing during the year in 56,288 main draw and 39,510 qualifying matches across 1,261 tournaments in 76 countries (2024: 11,004 men and women competing during the year in 53,973 main draw and 38,343 qualifying matches across 1,200 tournaments in 72 countries). World Tennis Tour Data Sales income grew to $37.0m (2024: $31.3m), providing significant funding for National Associations through data payments and tournament grants and providing central funding for Integrity. This income reflects record levels of tournaments on the ITF World Tennis Tour, with increased playing opportunities across the world, a direct result of the ITF's investment in the player pathway through the Balanced Calendar Fund, previously treated as a Strategic Activity funded from reserves but now accounted for within Operating Activities. The Wheelchair Tennis Tour, Wheelchair Masters and World Team Cup continue to grow through key partnerships with Uniqlo, NEC, BNP Paribas and Cruyff Foundation and the ITF continued to be supported by corporate partnerships with Tennis-Point and Dwight Global. REPORT OF THE CHAIRMAN OF THE FINANCE COMMITTEE ITF Trust Annual Report and Consolidated Financial Statements 3

• Cover