Brazil FC™ Annual Report FY2026

BRAZIL FC™ / Seleção Industries International Ticker: BRAZ5 · Listed: 1914 · Sector: Beautiful Game Operations

A letter from the office of the CEO

To our valued stakeholders, loyal supporters, and the global community of passionate investors who have, over the past two decades, quietly wondered what is happening at this organization:

Fiscal Year 2026 marks a pivotal chapter in the Brazil FC™ story. After four years of restructuring, one complete leadership pivot, a mid-cycle management hire from the Serie A talent pool, and the surprise appointment of his son as day-to-day operations lead, we are pleased to report that the organization is entering the 2026 FIFA World Cup positioned with 5 all-time Championships on its balance sheet and a renewed strategic mandate: actually win one again.

We thank you for your patience since 2002.

Company overview

Legal name: Confederação Brasileira de Futebol (operating as Brazil FC™) Founded: 1914 Headquarters: Rio de Janeiro, Brazil Primary market: Global Core product: Football, specifically the beautiful kind

Mission statement: To deploy technically gifted human assets across a 105×68 meter operational surface in a manner that entertains, inspires, and periodically shatters the collective emotional infrastructure of an entire nation.

Executive leadership

Group CEO: Carlo Ancelotti (appointed 2025, contract extended through 2030) 1

Mr. Ancelotti is a proven multi-market operator with prior championship deliveries in England, Spain, Germany, France, and Italy. He joins Brazil FC™ after a long tenure managing Real Madrid Group. His leadership philosophy centers on calm authority, tasteful touchline knitwear, and a notably unexpressive facial affect that critics describe as "almost Buddhist."

Chief Tactical Officer (Field): Davide Ancelotti (son, appointed simultaneously)

Davide handles the day-to-day tactical operations, press conference logistics, and apparently most of the running. His father handles the room. The arrangement has drawn significant analyst interest as a family-controlled dual-management structure, and has been deemed, quote, "unconventional but fine, we think."

Brazil boss Carlo Ancelotti at the touchline — Senior Group CEO Carlo Ancelotti, pictured during operations. 2

Key personnel — principal asset roster

Brazil FC™ enters the 2026 reporting period with a 26-player asset portfolio 3 representing a total transfer market valuation estimated to exceed €1.2 billion. Selected highlights:

Vinícius Júnior (Senior Vice President, Left Wing Operations) The organization's most valuable active asset. Currently deployed at Real Madrid Group on full-time placement. Generates consistent high-volume output in 1-v-1 conversion scenarios and has demonstrated strong Q1-Q4 consistency over multiple fiscal cycles.

Neymar Jr. (Legacy Asset — Status: Conditional) The organization's all-time top producing asset (79 goals in 128 appearances) 3 returns for his fourth World Cup engagement. Neymar has been inactive at the national team level since 2023 due to extended injury remediation protocols. Management confirmed inclusion following "one full year of observation" and satisfactory physical output at Santos. A recent off-site incident involving a junior Santos affiliate is currently under internal HR review. The asset has issued a formal statement of apology.

Endrick (Emerging Asset — Class of 2024) Age 19. Currently on externally-managed deployment at Lyon FC under a loan structure from Real Madrid Group. Described internally as "explosive." Management has identified this asset as a potential primary revenue driver for the next three fiscal cycles, pending full development. 4

Estêvão Willian (Surprise Asset — flagged by COO Davide Ancelotti) Listed as a potential high-upside undervalued position. The COO publicly described this asset as the squad's most probable "dark horse revenue event." Management is betting modestly.

Alisson Becker (Chief Defensive Officer, Goalkeeping Division) Liverpool FC-based. Cleared for World Cup deployment following a period of injury-related reduced availability. Institutional knowledge: irreplaceable.

Bruno Guimarães / Casemiro / Lucas Paquetá (Midfield Operations Unit) The organization's central operational backbone. Guimarães (Newcastle) handles distribution, Casemiro (Manchester United) enforces physical compliance, and Paquetá (Flamengo, returning from London placement) manages creative throughput.

Notable asset write-offs this cycle:

Rodrygo (Real Madrid): full ACL remediation — ruled out, total write-down 5
João Pedro (Chelsea): 15 goals, 5 assists in EPL FY2025-26 — omitted, no formal statement, analysts baffled

Endrick celebrates after scoring for Brazil — Emerging asset Endrick — Q3 upside potential, limited depreciation risk. 4

Historical performance summary

Fiscal Year	Tournament	Result	Market Sentiment
1958	FIFA World Cup	Champion	Euphoric
1962	FIFA World Cup	Champion	Euphoric
1970	FIFA World Cup	Champion	Transcendent
1994	FIFA World Cup	Champion	Relieved
2002	FIFA World Cup	Champion	Euphoric
2006	FIFA World Cup	QF exit	Concerning
2014	FIFA World Cup	7-1 semifinal loss to Germany	Do not discuss in earnings calls
2018	FIFA World Cup	QF exit	"Fine. We're fine."
2022	FIFA World Cup	QF exit (penalties)	Restructuring initiated

The organization has not lifted the primary product (the FIFA World Cup trophy) since FY2002 — a 24-year dividend gap that management is formally addressing in this cycle.

FY2026 operational outlook

Primary market: Group C, 2026 FIFA World Cup (co-hosted across United States, Canada, Mexico)

Q2 scheduled engagements:

June 13: Morocco Group FC (classified: credible competitor, notable tactical threat)
June 20: Haiti Emerging Markets (classified: underdog, high symbolic value)
June 24: Scotland & Partners (classified: passionate, physically robust, historically overmatched) 2

Warm-up performance: Beat Croatia Group FC 3-1 in pre-tournament friendly operations. Management cited "encouraging asset alignment" and "promising pre-season synergies."

Estevao Willian of Brazil celebrates after scoring — Surprise asset Estêvão Willian during pre-tournament output validation. 6

Tactical framework: 4-2-3-1 base deployment with fluid positional adjustment. The organization favors high-press activation sequences, wide-channel exploitation, and what analysts describe as "moments of spontaneous creative genius that cannot be modeled in a spreadsheet." This last factor is considered a core differentiator and is not being changed.

Risk disclosures

The following risk factors are disclosed in compliance with investor transparency standards:

Key-asset health risk: Neymar Jr. remains subject to recurring injury advisories. Management cannot guarantee full Q1 availability. The organization acknowledges this is the fourth consecutive cycle in which this risk has been flagged.
Succession dependency: Significant squad upside is concentrated in assets aged 19-23. If the youth cohort underperforms, the middle-management tier (Casemiro, Fabinho) may be required to carry load in excess of recommended capacity.
Expectation premium: Brazil FC™ operates under externally imposed expectations that materially exceed those applied to comparable organizations. Any result short of the championship will be processed by shareholders as a catastrophe regardless of objective performance metrics.
The 2014 incident: Management requests that analysts refrain from modeling scenarios involving seven-goal deficits. The risk protocols have been updated. Thank you.

Shareholder notes

Brazil FC™ stock (BRAZ5) has experienced sustained volatility across the 2006-2022 fiscal window. Management believes current asset quality, leadership stability, and the structural advantage of playing in a home-continent tournament represent a compelling re-entry point.

The next quarterly update will be issued on or around June 13, 2026, following the Morocco engagement.

We believe in the product. The product is football. The football is beautiful.

Forward-looking statements in this report involve risks and uncertainties. Past championships do not guarantee future championships. Any resemblance to an actual SEC filing is purely for entertainment purposes.

#MatchRewritten