Thomas Ebeling KEYNOTE

Capital Markets Day – December 6, 2017

KEYNOTE

Thomas Ebeling

PROSIEBENSAT.1 AT A GLANCE

1) Excluding International TV and Diversification (SBS Group) 2) EV/EBITDA multiple as reported by Bloomberg

3) All data referring to end of period 4) Q3 2017 LTM: 2016 dividend paid in 2017

4

Revenues ¹⁾

Adjusted EBITDA ¹⁾

Market capitalization ³⁾ Share price ³⁾

Adjusted net income

Dividend paid ^3,4)

Revenue share outside TV adv.

EV/EBITDA multiple ²⁾ Leverage ratio ³⁾

2009

1,918m 506m

1,764m 8.06 187m

2m 11%

8.1x 4.7x

Q3 2017 LTM

4,009m 1,052m

6,715m 28.84 557m

435m 51%

8.4x 1.8x

+10%

+10%

+19%

+18%

+15%

CAGR

(2009 –Q3 2017 LTM)

2.9bn

total

‘09-17:

+40%pts

total

‘09-17:

+0.3x

total

‘09-17:

-2.9x

total

‘09-17:

PROSIEBENSAT.1 MARKET CAP DEVELOPMENT ONLY IN

LINE WITH PEERS DESPITE OPERATING OUTPERFORMANCE

[indexed; market cap weighted] [indexed; peer group index market cap weighted]

LTM REVENUES

MARKET CAP

60 70 80 90 100 110

Q1 Q2 Q3 Q4 Q1 Q2 Q3

ProSiebenSat.1 Peer group average

90

95 100 105 110 115 120

Q1 Q2 Q3 Q4 Q1 Q2 Q3

ProSiebenSat.1 Peer group

LTM EBITDA

[indexed; market cap weighted]

80 85 90 95 100 105 110 115

Q1 Q2 Q3 Q4 Q1 Q2 Q3

ProSiebenSat.1 Peer group

2016 2017 2016 2017 2016 2017

OUR EQUITY STORY IN A NUTSHELL

1) Including Addressable TV 2) Q3 2017 LTM 3) Q3 YTD 2017 vs. Q3 YTD 2016 4) FY 2017E 5) For details on FCF ROI calculation see footnote on page 22

6) Dividend consensus estimate 2017

6

Distribution with dynamic growth and high profitability Digital Entertainment as extension of TV

Most diversified broadcaster outside core TV ad business Robust (TV) ad business with stable growth potential

Red Arrow to strengthen independence & participation in growth market DV&C as unique and profitable diversification play with high synergies Successful M&A play and cash base to realize M&A pipeline

Payout of stable and attractive dividend given high cash flow

+17%

400m+

51%

2-3%

Top 10 +42%

~10%

~7%

of revenues outside TV ad

independent producer

FCF ROI

YoY revenue growth

Dividend yield

Revenues

YoY revenue

growth

market

growth

Accelerate sustainable diversification

leveraging

core TV business and creating

synergies

Adjacent &

Production

Digital Entertainment

Digital Commerce

& Wellbeing

AdTech

& Data

Broad- casting

2010+ 2012-14 2014-16 2015+

GOAL

CONTINUED DIVERSIFICATION

AND TRANSFORMATION

+0.6 ^%

pts +1.2 ^%

pts

27.9 27.3 26.7 25.5

WE ARE THE LEADING GERMAN TV GROUP

AUDIENCE SHARE

Base: All German TV households, A 14-49, Mon-Sun, 3-3 h; RTL Mediengruppe since June 2016 incl. RTLplus; w/o RTL II minority

Source: AGF in cooperation with GfK/TV Scope/ProSiebenSat.1 TV Deutschland

8

Q1-Q3 2017 Q1-Q3 2007

∆ ∆

40% 39%

20%

31%

40%

28% 25%

LEADER IN GERMANY, AUSTRIA & SWITZERLAND SHARE OF ADVERTISING

[Net Share] [Gross Share] [Gross Share]

Q3 2017 LTM

4,009

2009

1,918

Revenues

Non-TV advertising CAGR: +34%

TV advertising CAGR: +2%

>50 ^%

of Group revenues generated outside of

traditional TV advertising business 49%

11%

89%

DIVERSIFIED PORTFOLIO

Note: 2009 excl. International TV and Diversification (SBS Group)

10

51%

MULTIPLE UNITS WITH

HIGH REVENUE GROWTH

~20%

~30%

~50%

~40%

~10%

~150%

~10%

~25%

Addressable TV AdTech

2)

GROWTH vs. PY ¹⁾

(2016-2017E)

VERY STRONG COMPETITIVE POSITION

1) GSA = Germany, Switzerland and Austria 2) Internal estimate based on industry figures 3) Leading MCN (excl. music business; focus on U.S. and

Europe) 4) For detailed overview of commerce asset market positions see commerce deep dive 5) Excl. app reach

12

#1

Germany-based full AdTech

stack

12

Members in European Media Alliance

70 ^m

User profiles

from desktop, mobile

& HbbTV

#1

Leader in Addressable TV

88 ^%

YoY growth of Red Button Portal users

#1

Leading media investor

#1

Strong set of leading commerce

assets

in GSA

#3

Leading MCN

Leadership in #1

TV audience share

& ad monetization in GSA

10

Independent production company

Top

PROPRIETARY FULL ADTECH STACK

Demand side

platform Supply side

platform Ad server Sales house Publisher

Adve rtiser/agenc y

Minority stake only 1) NEW

NEW

NEW NEW

2)

2)

COLLECTION OF >70M UNIQUE PROFILES

1) Excl. app reach 2) Including strategic minorities collecting data in our DMP 3) Based on unique cookies active per months

4) Based on accumulated unique visits across commerce portfolio

14

Platforms & Brands Total unique profiles ³⁾ Thereof in-depth commerce profiles ⁴⁾

Mobile Web

HbbTV Desktop Web

40m+

10m+

20m+ 8m+

5m+

New products in pipeline

>50

platforms &

brands in

2018 ²⁾

MEDIA ALLIANCE PARTNERSHIPS

COVERING ALL KEY EUROPEAN MARKETS…

Italy Nordics

France

Turkey Poland

Portugal

Spain

CEE Belgium

UK

GSA

Household reach

>200m

MEDIA ALLIANCE

Initiated by P7S1

in 2014

… POSSIBLY EXPLOITING

SEVERAL SYNERGY LEVERS

Source: P7S1 own estimate

16

Ad Sales Enabler/

AdTech

European

Sales House O&O platforms

Media &

Marketing, Creative

Services Licensing

& Co- productions

Technical

Services Sourcing

Strong ongoing projects Promising discussions

~EUR

700-900m

total tech OPEX

p.a. of European

broadcasters

TOP TEN INDEPENDENT PRODUCTION COMPANY

Global distributors

21 production companies in 8 countries

U.S.

accounts for

71 ^%

of external

revenues

TOP 3 LEADING MCN

WITH NEW AND FAMILIAR FACES

1) Leading MCN (excl. music business; focus on U.S. and Europe)

Source: Studio71

18

Top 3

Leading

MCN

8bn

Video views per month

>1,300

Global

creators

ATTRACTIVE 7SPORTS PORTFOLIO

Talent management IP & Live

Events Mass Sport

platforms Fighting

platform

MMP

LEADING GROWING COMMERCE ASSETS

External revenue growth 9M 2017 vs. 9M 2016 shown; Selected companies only

20

Double-digit

revenue growth Single-digit

revenue growth Double-digit

revenue growth Double-digit

revenue growth Double-digit

revenue growth

#2 #1 #1 #2 #1

Double-digit revenue growth

#2

PORTFOLIO MANAGEMENT STRATEGY:

BUY AND KEEP IS MAIN INTENT

RATIONALE FOR

SELECTIVE DIVESTMENTS STRATEGIC

INVESTMENTS

Not best owner anymore

Significant value creation opportunity

High TV responsiveness Significant synergies

Asset-light business model High omnichannel potential

Local hero potential

ATTRACTIVE M&A

FCF-ROI calculated as proportional FCF 2017 estimate (proportional to ownership share) divided by invested cash to date based on active portfolio (incl. budgeted IC loans at year-end, loan redemption and capital increases), excluding etraveli (deconsolidated in Q3 2017). FCF as external FCF excluding internal TV media expenses, as per 2017 estimates (Smartstream FCF on entity basis). FCF excludes cashflows from obtaining control of subsidiaries and other businesses. Excludes companies that will not have been fully consolidated for 12 months in 2017.

22

FCF ROI %

CONTINUING M&A ACTIVITY

M&A activity since capital increase in Q4 2016 and target list [in EUR m]

205

63

Majority acquisitions incl.

put options

Acquisitions of

minorities Outstanding minorities/put option liabilities

Existing M&A

pipeline Total M&A spend

& other

Future deployment of capital

Bolt-on M&A Strategic minorities

Minorities/

put option liabilities

Enabling growth investments in

TV & Digital

M&A spend since capital increase

EUR 268m

EUR

>400m

indicative future

spend

SIGNIFICANT M&A OPPORTUNITIES IN COMMERCE

1) GSA = Germany, Switzerland and Austria

24

Current identified M&A targets

Potential GSA

targets

European targets

HOME SERVICES &

MOBILITY LEISURE &

RELATIONSHIPS HEALTH &

BEAUTY STYLE

10+ 5+

10+

25+

ACCELERATE DIVERSIFICATION & INTERNATIONALIZATION MAXIMIZE SYNERGIES

DRIVE EXCELLENCE & EFFICIENCY CONTINUOUS INNOVATIONS

OUR TRANSFORMATION PLAYBOOK

ACCELERATE VALUE AND FOCUS

THROUGH THREE PURE PLAY PILLARS

26

ENTERTAINMENT

Leading European multi-channel

entertainment products and ad sales house

1

(Entertainment)

RED ARROW STUDIOS

Leading global Content, Talent & IP

company

2

(Content Production

& Global Sales)

NCG – NUCOM GROUP

#1 omnichannel

platform for consumer services & lifestyle brands

in Europe

3

(Commerce)

Ambition

P7S1 MEDIA SE

Ad sales Subscription Ad sales

VC investment Subscription

Ad sales Service

Data sales TV &

Ad Sales AdTech Ventures Digital

Platforms Business

model Market growth

Distribution

ENTERTAINMENT PORTFOLIO

ENTERTAINMENT PORTFOLIO STRATEGY

28

DRIVE CLASSIC ADS

& NEW REVENUES

EXPLOIT NEW PRODUCTS &

PLATFORMS

LEVERAGE STRONG PARTNERSHIPS

OPTIMIZE

OPERATIONS & PUSH

COST REDUCTION

Windowing across all platforms

Content monetization

Innovative ad sales products

Joint distribution

Integrated sales set-up

INTEGRATED ENTERTAINMENT PILLAR TO CREATE SYNERGIES …

TV & Ad Sales Distribution

AdTech Ventures

Digital Platforms

ENTERTAINMENT

1

… FURTHER ENHANCED BY UNIT REORGANIZATION

1) Savings by 2019/20, vs. addressable cost base as of H1 2017 LTM, leading to more moderate cost development of overall Entertainment segment

30

ENTERTAINMENT

(TV & DIGITAL) AD SALES GROUP

Optimized future-ready holding setup

Efficient setup of

central supporting services

Exploration of off-shoring, outsourcing & automation Consolidation of sales units

(TV, Digital, Ventures etc.) Setup of key account teams

next to agency teams Alignment of back office requirements & processes Integrated teams for

traditional TV & digital video Support of key processes by technology & automation KPI-driven creative processes

(also improving toprate)

Net savings of EUR >50 ^m

7 KEY MESSAGES FOR TV USAGE

Panel adjustments, capturing life streaming on other devices and sports will stabilize viewing time in 2018

TV dominates video consumption in Germany by far

TV is the dominant video platform even for millennials Impact of PayVoD is small

Facebook is not yet an ad video medium for brands in mass markets

TV viewing remarkably constant over years

YouTube usage is highly concentrated

226 ^min 14+

2005 2016

239 ^min 185 ^min

14-49 171 ^min 216 ^min

14-69 223 ^min

STABLE LIVE TV VIEWING TIME

Source: AGF in cooperation with GfK; TV Scope 6.1, full year comparison

32

OUTSTANDING TV REACH VS. ONLINE

PEOPLE REACHED IN EVERY SINGLE MINUTE

TV viewers m

28

70 67

93

9 5

13

232

REACH VIDEO CONSUMPTION

TV IS KEY ENTERTAINMENT MEDIUM

Base: Q3/17, rolling for four last quarters, 14-69, TV incl. TV-related consumption (catch-up)

Source: ViewTime Report, SevenOne Media/forsa 2017

34

28% PayVoD penetration only translates to ~3% share of daily video consumption

[14-69, in %] [14-69, in min per day]

TV incl.

catch-up Free online video DVD/

Blu-ray PayVoD

Free online video DVD/

Blu-ray PayVoD TV incl.

catch-up

PAYVOD POTENTIAL IN GERMANY MOST LIKELY LIMITED TO 60% PENETRATION

PayVoD penetration Nov 2017

60%

General interest in PayVoD

44% 3% ^pts

Concrete

subscription intention

5% ^pts

PayVoD user potential Incremental factor

users per subscription

8% ^pts

Even in 14-49 target group, PayVoD with limited growth in the long term

1)

TV DOMINATES VS. SVOD ON SERIES

1) At least 50% of an episode watched, Source: AGF in cooperation with GfK; TV Scope 6.1, 04/01/2017-04/30/2017

2) Source: Own calculation, maxdome BI, ViewTime Report

36

100m ^3.3m

TV

SVoD

The Big Bang Theory Prison Break Two and a half Men

4m ^1.9m

TV

SVoD

60m ^2.8m

TV

SVoD

Viewers clearly prefer Free-TV over SVoD if shown on both mediums…

…despite high SVoD penetration

in target group

…even though only shown weekly on

small channel

…despite only rerunning on TV and full availability

on SVoD

FOUR COMPLEMENTARY BRAND FAMILIES

Comforting leading brand for families and elderly (24-69) Delivers positive emotions, feelings of belonging, and advice

Leading innovative brand for younger males (14-49)

Delivers positive energy with top-notch curated and created content

Trusted entertainment brand for mainstream, down-to-earth families (14-59) Delivers authentic service and down-to-earth entertainment with local heroes

Stimulating leading brand for younger females (14-49)

Delivers modern lifestyle formats for urban female living

U.S. highlights Attractive local content Second tier innovative sports

DIFFERENTIATING CONTENT STRATEGY

38

Gradual shift to local content depending on …

Quality of

U.S. output Ability to improve

U.S. deal terms Availability of

affordable rights ROI of incremental local invests Local content

strategy of all competitors

© 2016 CBS Broadcasting, Inc. All Rights Reserved

CONTINUED ACCESS TO

GREAT CONTENT

production Own U.S. studios

International channel & local

platform partners

Own MCN Own digital

platforms Own sports

DARTS NFL

WRESTLING DRONE RACING MIXED MARTIAL ARTS

SUPER BOWL 2017

KICK BOXING

ESPORTS

SUCCESSFUL PORTFOLIO OF

SECOND TIER INNOVATIVE SPORTS

Basis: 01/01/2017-11/28/2017, all German TV households (German-speaking), A 14-49, Mon-Sun, 3-3 h; Source: AGF in cooperation with GfK/TV

Scope/ProSiebenSat.1 TV Deutschland

40

Up to

11.6%

Up to

1.6%

Up to

3.7%

Up to

2.6%

Up to

8.1% 8.0%

Up to

44.8%

Up to

6.1%

NEW MILLENNIAL VIEWER BEHAVIOR

IN ADDITION TO CLASSICAL LEAN BACK …

LEAN FORWARD BINGE

WATCHING SHORTER

DURATION

FLEXIBILITY TO WATCH

NON- INVASIVE

ADS

MULTI-

DEVICE

… CAN BE ADDRESSED THROUGH DIFFERENTIATION FROM SVOD

1) In % of total grid hours (incl. commissioned), content overlap in respective genres: Commissioned at ~0%, US license weighted average by grid hours at

~19% (with Series at ~16%, Movies at 18% and Sitcom at ~32%), own estimate based on title matching, comparison Oct 2016-Sept 2017 grid (in hours) of all

P7S1 channels with content offering of Netflix (as of 11/14/2017)

42

Only ~9% total content overlap with Netflix offering ¹⁾

Curated factual content

Live News

breaks HbbTV

offerings Lean back

content Innovative Sports

Non- millennial

local fiction Very local

comedians

Thematic/

well

positioned channels Local

reality &

entertainment Top U.S.

content

MAKE RED BUTTON PORTAL THE UNIQUE

#1 DESTINATION FOR INFOTAINMENT & COMMERCE

Thematic personalized

content channels

Individual news feeds

with local edge

Branded shopping

offers

WE WILL LAUNCH A NEW

DIRECT-TO-CONSUMER PLATFORM

44 Instant

Restart

SD HD

LiveTV

HD

SVoD

30 days

Catch-Up

30 days

7 days

Further partners in pipeline

Partner Partner

Registration Offer

Free Offer Technical Access

Fee Premium

& AD€

& A€€€ ⁴⁾

& AD

& AD REG

AD

7 days

Vision: Subject to final changes

7TV JV

~EUR 3.7bn

addressable

+24%

2017-2022 CAGR

2022

market in

1) NPVR = Network Personal Video Recorder 2) Optional service 3) Via maxdome bundle 4) Advertisements partly included 5) Subject to availability of rights 6) AdVoD (total video, incl. YouTube and Facebook) and SVoD market size in 2021, Germany

Source: Magna Global as of June 2017, Statista (as of November 2017)

Brands grow by increasing penetration among light buyers

2

Reach is crucial for sales and brand growth

3

TV is major driver for brand building & short-term activation Only TV combines reach and speed of the medium with

suggestive and emotional power of the ad

1

All performance channels take advantage of TV campaigns

TV AS THE MOST POWERFUL BUSINESS DRIVER FOR ADVERTISERS

Activation levels have exceeded optimum - importance of brand building will increase

Marketing mix models prove:

4

5

6

FACTS 7

DIGITAL PAIN POINTS

Source: 1) Integral Ad Science Media Quality Report (Q1 2016, H1 2017) 2) ANA & WHITE OPS 2017 Bot Baseline Report –Fraud in Digital Advertising

3) PageFair 2017 Global Adblock Report

46

Fraud losses amount to 22% of desktop video ad spending

39% of digital video advertising not viewable

~11% of digital video advertising in environments with risks to brands

Digital advertising not effective due to ad clutter

~30% ad block usage in Germany

Lasting impact of digital engagement doubtful

More than one third of digital videos not started by consumer

Ad Fraud

Viewability

Autoplay Brand safety

Ad Clutter

Ad Blocker

Engagement

KEY ADVERTISERS APPRECIATE VALUE OF TV

SERVICE

“When we run a heavy

TV schedule, we see a lift in sales & product awareness.

We need to run two weeks of digital to get the reach of one day of broadcast”

Rich Lehrfeld , Senior Vice President of Global Brand Marketing & Communications

FMCG

“We targeted too much, and we went too narrow”

Marc Pritchard, Chief Marketing Officer

E-COMMERCE

“The investments in

TV advertising would build a foundation for the future”

Glenn Fogel, CEO

TV IS THE PREFERRED ADVERTISING MEDIUM FOR FMCG COMPANIES

Note: FMCG ad spends YTD 2017 vs. previous year

Source: Nielsen Media Research, YTD (Jan-Oct 2017), gross spendings, FMCG Industries (Food, Pharma, Beverages, Cosmetics, Detergents)

48

FMCG companies have reduced online ad spends and increased TV

+99 TV SPENDING ^EURm

-26 ^EURm

ONLINE SPENDING

4%

10%

5% 4%

6%

89%

TV Magazine Billboard Newspaper Radio Internet

“Which product or

service advertisement which you have seen, read or heard recently can you remember?”

ADVERTISERS NEED TV

FOR BRAND BUILDING …

… AND TV AS KEY DRIVER FOR PERFORMANCE CAMPAIGNS

1) Source: Search Uplift Study 2015, Google/AEGIS, DA Resolutions 2) Source: “TV Response: new rules, new roles”, 2015, Group M/Thinkbox, UK, 2005;

based on 8 brands, Facebook metric is likes and comments 3) Source: SevenVentures; weighted average of 5 assets

50

Effects of TV on eCommerce orders ³⁾

57%

more eCommerce orders generated by TV ads

~ 80%

of TV campaigns generate

>10,000 incremental search requests

Effects of TV on Google search ¹⁾

33%

of media-driven Facebook interactions for brands are

generated by TV ads

Effects of TV on

Facebook interactions ²⁾

All performance channels take advantage of TV campaigns

TV MOST IMPORTANT AD MEDIUM FOR ONLINE COMPANIES

SHARE OF TOTAL AD BUDGET OF ONLINE COMPANIES IN TV

%

U.S. GIANTS INVESTING INTO TV ADS

TV AD SPEND 2016 OF TOTAL MEDIA

Source: Nielsen & Nielsen Global 2016

71 40

62 48

52 55 30

49

78 76

85 75 Google

Country AVG

Amazon Facebook

Digital advertising leaders with significant TV ad spend above country averages

52

[2016, gross, in %]

>50% OF OUR AD INVENTORY IS ALMOST IMMUNE TO POTENTIAL REACH DECLINE

Campaigns for our own products and

ventures

~10%

share of inventory

Campaigns for elderly

~15%

share of inventory

Campaigns for Commerce

companies (high TV need)

~10%

share of inventory

Campaigns with superb contextual fit

(e.g., food)

~10%

share of inventory

Addressable TV

~10%

share of inventory

DECLINE IN TV NET REACH CAN BE COMPENSATED BY PRICE INCREASE

TV WILL BENEFIT FROM AD SALES TRENDS

54

Rise of Voice and Paid Search

Opportunities driven by Tech and Data

Thematic and contextual advertising

Digital with reach and brand

safety issues Increasing relevance of aging population eCommerce driving

brand advertising

7 LEVERS IN PLACE TO ENSURE CONTINUED AD SALES SUCCESS

Strengthen data & tech to enable individualized

targeting

Pricing Product

innovations New

media segments M&A

AdTech

& Data Sales

cooperation Powerful

sales house

Grow our capabilities

& revenues

Enter growth segments with DOOH

& Marktguru

Extend sales force

with

cooperation to gain incremental

revenues Innovative

products to grow customer

ROI

Launch innovative

pricing platforms &

mechanism

Strengthen customer

centric

sales set-up

TACKLING ALL GROWING BUDGETS …

Source: SOM estimate based on commerce volume released by HDE/Federal Statistical Office of Germany, Magna Global (June 2017) & ZAW Yearbook 2017

56

P7S1 GROWTH LEVERS

Strengthen Linear TV Grow Digital Video

Drive performance offers Expand DOOH

Build-up Addressable TV

Push POS & Freesheet

NET AD MARKET [in EUR bn]

Linear TV Digital Video

Sum core markets

Co re mark ets

Sum core & additional markets Performance

(D)OOH

Addressable TV/HbbTV

POS & Freesheets A d d it iona l mar ke ts

Digital Others Print

Radio

Othe r

2017E 2022E

4.6 0.7

5.0 3.0

5.3 8.0

17.4 28.0

6.4 1.1

<0.1

9.8

7.8 1.3 0.3

10.6

0.6

4.3

0.7

… TO TRIPLE THE ADDRESSABLE MARKET

ADDRESSABLE NET AD MARKET POTENTIAL 2022E [in bn]

28.0

Total addressable market 2022E

10.6

(D)OOH POS &

Freesheets

7.8 1.3

Digital

Video Performance

Linear TV Addressable

TV/HbbTV

5.0

3.0 8.0 0.3

Market of core segments

2022E

Market of additional segments in 2022E Market of core segments in 2022E

3.5x

TV AD MARKET WITH SOLID GROWTH &

STRONG ON-TOP POTENTIAL

1) Addressable TV potential calculated on top of Magna basic market growth

Note: Estimate based on Magna Global (above-the-line, June 2017), SevenOne Media own estimate

58

∑ ~400 (CAGR 1.7%) -340

~100

~360

~50

~230

NET MARKET GROWTH POTENTIAL

2022 VS. 2017 [in EUR m]

LINEAR TV GROWTH POTENTIAL National print cannibalization

Sales commercial cooperation Call-to-action elements in TV

(e.g. lead generation, website traffic)

Shift to digital video

Basic market growth/net price increase MARKET DRIVERS

~260 ¹⁾ Addressable TV ¹⁾

OVERALL GROWTH POTENTIAL ∑ ~660 (CAGR 2-3%)

Incl. new pricing models

Incl. new distribution on digital platforms

Incl. voice/paid search opps

Incl. HbbTV

2017 2022E

P7S1 TOTAL ADVERTISING GROWTH ABOVE TV

Addressable TV/ HbbTV

Digital Video

POS &

Freesheets DOOH

Performance

Linear

TV

MARKET POTENTIAL

LARGE ADDITIONAL MARKET POTENTIAL FOR ADDRESSABLE TV/HBBTV

Note: 2016, based on Nielsen data and P7S1 own estimates

60

Attracting new budgets

Decentral

1.7 ^bn

0.8 ^bn

3.1 ^bn

Niche branding Performance- driven Addressable

TV potential

[in EUR]

ADDRESSABLE

TV

Daytime, October 28, 2017

SUCCESSFUL FULLSCREEN SPOT OVERLAY TEST

Spot Overlay with retargeting on ProSieben MAXX

with potential of ~5m devices on HbbTV 1.5 SATURN

MEDIA MARKT

Access Prime Time, October 21, 2017

Johnson

& Johnson

TV ADS AS SIGNIFICANT

CALL-TO-ACTION TRIGGER

1) Source: SevenOne Media 2) 2015-2017 online peformance marketing growth, Magna Global 2017

62

TRAFFIC TRIGGER ENGAGEMENT TRIGGER

SPOT

PLACEMENT SPOT

~EUR 50m

market growth potential TV triggers immediate traffic e.g.,

search requests, website visits ¹⁾

TV ads with performance-oriented elements for engagement and conversion

TV ad market benefits from growing (+10% ²⁾ ) performance market

TV CAN ADDRESS PAID SEARCH WEAKNESS

Generates positive ROI mainly for market leaders

Particularly

challenging on small screens/mobile SHORTCOMINGS OF

PAID SEARCH “Broadcasted keyword” in Live TV

 Red Button portal

 Scan QR code Customers linked

to shop via Advertisers bidding

for TV keyword

CAR INSURANCE: 20% OFF!

Highest bidder

wins the bid

STRONG POTENTIAL OF VOICE RECOGNITION

TO PUSH SHORT-TERM SALES VIA TV

64

LEVERAGING POWER OF TV TO TRIGGER ACTIONS

PUSHING CLIENTS’ OWN WEB-SHOP SALES VS. 3 ^RD PARTY SHOPS

SHOP NOW

“Buy perfume at Flaconi online shop”

USER

ACTIVATION :

NEW SALES FORCE SETUP TO EXPLOIT ALL GROWTH OPPORTUNITIES

Linear TV Performance DOOH POS &

Freesheet

Core

Sales Units

Specialized Sales Units

Addressable TV DOOH

Data

Programmatic

Commercial cooperation/

Marktguru

Ventures Key account Agency

New Business

Sales cooperation

Addressable TV/HbbTV Digital Video

Long term IP value Fees Ad sales

Commissions

Long term IP value Revenue shares

Content

Production Talent

Packaging Distribution

& Sales Business

model

O&O Channels

& Platforms

RED ARROW STUDIOS:

A NEW PRODUCTION PLAY…

66

Market

growth

… LEVERAGING OUR PROVEN FORMULA

Reduced volatility via portfolio

effect

Seamless collaboration

across all business lines

Trusted partner for broadcasters

worldwide Exceptional

reputation with international

creators

Balanced production &

distribution genre mix

Strong partnerships

across subsidiaries

Strong reputation with digital creators

& talents

Strategic access to premium TV content

Delivery of high performing

content to OTT partners Top

development teams in all genres

Internal development of

scalable tech

& data tools Exclusive partnerships with European

broadcasters

CPC Ad coops Sales

Ad coops Subscriptions Commissions Ad coops

Commissions Sales

Ad coops

Home Services

& Mobility

Health

& Beauty Style Leisure

& Relationships

NCG - NUCOM GROUP:

#1 OMNICHANNEL PLATFORM

68

Business model

Market

growth

LEADING DIGITAL CONSUMER SERVICES AND LIFESTYLE PORTFOLIO

#1 ¹⁾

HOME SERVICES &

MOBILITY

#2

#1

STYLE

#1 ³⁾

#1 ³⁾

# = market position

HEALTH &

BEAUTY

#2 ²⁾

#2 ⁴⁾

#1

LEISURE &

RELATIONSHIPS

#1

#2

OUR VALUE ENHANCING PLAYBOOK

70

OUR UNIQUE

VALUE PLAYBOOK TRADITIONAL

INVESTMENT PLAYBOOK

Omnichannel

potential Operational excellence contribution Data

Commercial cooperation Market size,

profit pool &

growth potential

Management

& operational quality Defensibility

against tech disruption Asset-light

business model

& marketing leverage

B2C focused within target

group

Media &

brand power

GROWTH ACCELERATION THROUGH PARTNERSHIPS

Additional deal flow

Drive cost synergies

Access to top talent Governance

& operational excellence

Value adding partner M&A

efficiencies

Possible

asset

contribution

Note: Revenue growth potential 2022 vs. 2017; including potential bolt-on acquisitions; outlook 2018 to be announced at full year earnings call

72

KEY REVENUE GROWTH OPPORTUNITIES

EUR

>1bn

Addressable TV

New TV ad opportunities

HD growth (New) pricing models

DTC platforms

NCG – NUCOM GROUP

Red Arrow Studios Advertising

Platform Solutions

Red Button Portal/

HbbTV

Value today

VALUE CRYSTALLIZATION 2018+

Revenues Red Arrow

Studios

Revenues NUCOM

GROUP

M&A Partnerships/

collaborations Intra-ad and

European opportunities

Future value

1

2

3

4

5

6

Entertainment reorganization

& cost reduction Efficiencies

Revenues Entertainment New ad-driven

and non-ad revenues

Organic growth of Content Production

Organic growth of Commerce

Larger

bolt-on M&A

FINANCIAL GUIDANCE 2017

74

Group revenue growth Adjusted EBITDA

Adjusted net income Financial leverage

Dividend payout ratio

mid-single digit increase (%)

slightly above prior year slightly above prior year

1.5x-2.5x

80-90%

THREE THINGS TO REMEMBER

Strong

TV business

Attractive synergistic

diversi- fication

Strong revenue &

value growth

potential

DISCLAIMER

266

This presentation contains "forward-looking statements" regarding ProSiebenSat.1 Media SE ("ProSiebenSat.1") or ProSiebenSat.1 Group, including opinions, estimates and projections regarding ProSiebenSat.1's or ProSiebenSat.1 Group's financial position, business strategy, plans and objectives of management and future operations. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of ProSiebenSat.1 or ProSiebenSat.1 Group to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. These forward-looking statements speak only as of the date of this presentation and are based on numerous assumptions which may or may not prove to be correct.

No representation or warranty, expressed or implied, is made by ProSiebenSat.1 with respect to the

fairness, completeness, correctness, reasonableness or accuracy of any information and opinions

contained herein. The information in this presentation is subject to change without notice, it may be

incomplete or condensed, and it may not contain all material information concerning ProSiebenSat.1 or

ProSiebenSat.1 Group. ProSiebenSat.1 undertakes no obligation to publicly update or revise any

forward-looking statements or other information stated herein, whether as a result of new information,

future events or otherwise.