IR Presentation Q1 2015

Page 1

| May 07, 2015

May 07, 2015

IR Presentation

Q1 2015

Page 2

| May 07, 2015

4

1 Q1 2015 – At a Glance

2 Q1 2015 – Financial Performance Review

Summary & Outlook

Agenda

Broadcasting German-speaking Digital & Adjacent

Content Production & Global Sales Q1 2015 – Operational Performance

3 ^3.1

3.3

3.2

Page 3

| May 07, 2015

Thomas Ebeling

Chief Executive Officer

At a Glance

Q1 2015

Page 4

| May 07, 2015

Key financials – Q1 2015

[Q1 2015 vs. Q1 2014, in EURm]

Revenues

Recurring EBITDA

Underlying net income

Continuing operations.

654.6

152.7

69.9

+12.7% ✔

+9.0% ✔

+25.4% ✔

1 2 3 4

Page 5

| May 07, 2015

Continued dynamic growth across all three business segments

Continuing operations.

1 2 3 4

Digital & Adjacent Broadcasting

German-speaking

Content Production

& Global Sales

TV Advertising +4.2%

Distribution +26.4%

Digital Entertainment +21.3%

Digital Commerce +44.3%

Adjacent +12.0%

Revenue growth

vs.

Q1 2014

+EUR 22m

(Q1 2015: EUR 471m)

+EUR 20m

(Q1 2015: EUR 46m)

+EUR 32m

(Q1 2015: EUR 138m)

+4.8% +30.4% +75.6%

Q1 2015 – At a Glance

Page 6

| May 07, 2015

Major operational highlights in Q1 2015

✔

ProSiebenSat.1 with positive ad performance in Q1

✔

New Digital & Adjacent vertical established: Beauty & Accessories

✔

Growing rate of returning shows, totaling 40% of production portfolio in Q1 ¹

✔

Best Q1 TV ratings performance in the last nine years

1 2 3 4

1. Relates to Red Arrow Entertainment Group produced shows with revenues booked in Q1 2015.

Page 7

| May 07, 2015

Well on track to hit our 2018 Group revenue growth target

Continuing operations.

1 2 3 4

Degree of

achievement 53% 51% 126% 59%

300

600

100

1,000

158

308 126

593

0 200 400 600 800 1.000

Broadcasting German-speaking Digital & Adjacent Content Production & Global Sales Group

CMD 2018 target Achievement by Q1 2015 [Achievement

by Q1 2015, in EURm]

37.5%

linear projection of CMD target Q1 2015 – At a Glance

Page 8

| May 07, 2015

We confirm our 2015 segment revenue growth assumptions…

Continuing operations.

Digital & Adjacent Content Production

& Global Sales

1 Broadcasting 2 3

German-speaking

Revenues vs.

FY 2014

low single- digit growth

double-digit growth

high single- digit growth

1 2 3 4

Page 9

| May 07, 2015

… and maintain our positive 2015 full-year guidance

Continuing operations.

Recurring EBITDA and underlying net income above prior year Digital & Adjacent with double-digit revenue growth

Ad performance at least in line with positive net TV ad market Mid to high-single digit Group revenue growth

1 2 3 4

✔

✔

✔

✔

Page 10

| May 07, 2015

Dr. Gunnar Wiedenfels Chief Financial Officer

Financial Performance Review

Q1 2015

Page 11

| May 07, 2015 0

200 400 600

Q1 2015: double-digit revenue growth translates into EUR 13m recurring EBITDA improvement

0 50 100

150 140.1 152.7

+12.7%

Q1 2015

581.1 654.6

Q1 2014

+9.0%

Consolidated revenues [in EURm]

Recurring EBITDA [in EURm]

Q1 2015 Q1 2014

Recurring EBITDA margin:

23.3% (-0.8%pts)

1 2 3 4

Continuing operations.

Q1 2015 – Financial Performance Review

Page 12

| May 07, 2015

Q1 2015: key revenue growth drivers of ProSiebenSat.1

Broadcasting German-speaking Key Group revenue growth drivers

[Q1 2015 external revenues, growth rates in percent]

Digital & Adjacent Content Production & Global Sales

Continuing operations.

TV advertising EUR 436.6m, +4.2%

Digital Entertainment EUR 52.0m, +21.3%

Red Arrow EUR 45.6m, +75.6%

Distribution EUR 25.6m, +26.4%

Digital Commerce EUR 69.5m, +44.3%

Adjacent EUR 16.6m, +12.0%

EUR 470.8m, +4.8% EUR 138.2m, +30.4% EUR 45.6m, +75.6%

1 2 3 4

Page 13

| May 07, 2015

Q1 2015: significant improvement of financial result and underlying net income

Continuing operations.

-60 -40 -20 0 20

-28.4 -38.3

-25.9%

Financial result [in EURm]

Q1 2015 Q1 2014

1 2 3 4

0 20 40 60 80

+25.4%

Q1 2015 69.9

Q1 2014 55.7

Underlying net income

[in EURm]

Page 14

| May 07, 2015

Broadcasting German-speaking: solid revenue growth of TV advertising and distribution business

Continuing operations.

External revenues and recurring EBITDA [in EURm]

1 2 3 4

Q1 2015 Q1 2014 y-o-y Comments

Ext. revenues 470.8 449.2 +4.8%

TV advertising revenue growth driven by positive advertising environment and positive Easter effect.

Distribution revenues increased due to continued strong demand for HD channels.

TV advertising 436.6 418.9 +4.2%

Distribution 25.6 20.3 +26.4%

Rec. EBITDA 125.8 119.8 +5.0% Rec. EBITDA increase in line with revenue

growth.

Page 15

| May 07, 2015

Digital & Adjacent: dynamic revenue and recurring EBITDA growth driven by all key assets

External revenues and recurring EBITDA [in EURm]

Continuing operations.

1 2 3 4

Q1 2015 Q1 2014 y-o-y Comments

Ext. revenues 138.2 105.9 +30.4% Dynamic organic revenue growth in Digital Entertainment and Digital Commerce, and consolidation effect of Aeria Games and moebel.de.

Digital Entertainment 52.0 42.9 +21.3%

Digital Commerce 69.5 48.2 +44.3%

Adjacent 16.6 14.8 +12.0%

Rec. EBITDA 26.8 23.8 +12.5% Rec. EBITDA improvement despite

continued investments.

Page 16

| May 07, 2015

Content Production & Global Sales: revenue growth driven by US production business

Continuing operations.

1 2 3 4

External revenues and recurring EBITDA [in EURm]

Q1 2015 – Financial Performance Review

Q1 2015 Q1 2014 y-o-y Comments

Ext. revenues 45.6 26.0 +75.6%

Strong organic revenue growth driven by returning shows (esp. “Married at first sight”, “Little Women”); positive consolidation effects from the acquisition of Half Yard. Global Sales revenues from

“BOSCH” and “100 Code” also contributed positively.

Total revenues 55.6 36.5 +52.3%

Rec. EBITDA 0.7 -2.5 +127% Continued improvement of segment

profitability.

Page 17

| May 07, 2015

Q1 2015: Group P&L – improvement of almost all key metrics

Continuing operations.

1. After non-controlling interests.

1 2 3 4

[in EURm] Q1 2015 Q1 2014 Δ

Revenues 654.6 581.1 +12.7%

Recurring EBITDA 152.7 140.1 +9.0%

Non-recurring items -6.8 -4.3 +59.6%

EBITDA 145.9 135.9 +7.4%

Depreciation and amortization -28.7 -26.0 +10.4%

Operating result (EBIT) 117.2 109.9 +6.6%

Financial result -28.4 -38.3 -25.9%

Thereof interest result -21.5 -30.8 -30.4%

Earnings before tax (EBT) 88.8 71.6 +24.1%

Net income ¹ 61.1 49.0 +24.6%

Underlying net income 69.9 55.7 +25.4%

Page 18

| May 07, 2015

Net debt [in EURm]

1,592

1,500

92

0 500 1.000 1.500

Q1 2015: our financial leverage improved to 1.7x

Financial leverage: Net debt/LTM recurring EBITDA (LTM recurring EBITDA of EUR 859.9m (previous year: EUR 802.5m) for continuing operations).

1. After reclassification of cash and cash equivalents of Eastern European operations.

03/31/2014 Change in net debt

03/31/2015

Financial leverage at 1.7x

as of March 31, 2015

Net financial debt

1 2 3 4

Page 19

| May 07, 2015

Financial targets for 2015

Continuing operations.

Financial leverage

Underlying net income Recurring EBITDA

Group revenue growth mid to high-single digit

above prior year

above prior year

1.5x – 2.5x

1 2 3 4

Page 20

| May 07, 2015

Thomas Ebeling

Chief Executive Officer

TV Performance

Broadcasting

German-speaking

Page 21

| May 07, 2015

Strong viewer share growth across German-speaking markets

1 2 3 4

Basis for GER: All German TV households (Germany + EU), A 14-49 years; Mon-Sun, full day 3-3h. Source: AGF in cooperation with GfK / TV Scope / ProSiebenSat.1 TV Deutschland. Basis for CH: D-CH, A 15-49; Mon-Sun, full day.

Source: Mediapulse TV-Panel. Basis for A: A12-49; Mon-Sun, full day 3-3h, P7 MAXX Austria and S1 Gold Austria (both from Jul 15, 2014, onwards). Source: AGTT / GfK: Fernsehforschung / Evogenius Reporting.

Q1 2014 Q1 2015

Germany 28.4% 28.9%

Austria 20.2% 21.5%

Switzerland 16.3% 18.3%

Page 22

| May 07, 2015

Strong viewer share growth across German-speaking markets

1 2 3 4

Basis: All German TV households (Germany + EU), A 14-49 years; Mon-Sun, full day 3-3h; P7S1 w/o N24 & w/o 9live, sixx from Feb 1, 2011 onward, SAT.1 Gold from Jan 17, 2013 onward, ProSieben MAXX from Sep 3, 2013 onward. Source: AGF in cooperation with GfK / TV Scope / ProSiebenSat.1 TV Deutschland.

27.7 27.7 27.8

28.4

27.5

28.5

26.6

28.4

28.9

Q1 2007 Q1 2008 Q1 2009 Q1 2010 Q1 2011 Q1 2012 Q1 2013 Q1 2014 Q1 2015 23

24 25 26 27 28 29 30

Audience shares (A14-49)

[Full day; in percent]

Page 23

| May 07, 2015

… with the highest lead ever over RTL

Basis: All German TV households (Germany + EU), A 14-49 years; Mon-Sun, full day 3-3h; RTL Mediengruppe w/o RTL II, RTL Nitro from Apr 1, 2012 onward, P7S1 w/o N24 & w/o 9live, sixx from Feb 1, 2011 onward, SAT.1 Gold from Jan 17, 2013 onward, ProSieben MAXX from Sep 3, 2013 onward. Source: AGF in cooperation with GfK / TV Scope / ProSiebenSat.1 TV Deutschland.

1 2 3 4

Audience shares (A14-49) [Full day; in percent]

27.7 27.7

27.8

28.4

27.5

28.5

26.6

28.4 28,9

27.3 27.2

28.1

29.1

31.0

29.1

28.1

26.4

24,9 Q1 2007 Q1 2008 Q1 2009 Q1 2010 Q1 2011 Q1 2012 Q1 2013 Q1 2014 Q1 2015

23 24 25 26 27 28 29 30 31 32

28.9

Δ 4.0 ^%pts

24.9

Page 24

| May 07, 2015

Dynamic ratings growth over competition in Q1 2015

Basis: All German TV households (Germany + EU), A 14-49 years; Mon-Sun, full day 3-3h; RTL Mediengruppe w/o RTL II.

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

1 2 3 4

27.8

29.3 29,6

26.7

24.0 24,0

January February March

22 23 24 25 26 27 28 29

30 29.6

Δ 5.6 ^%pts

24.0

Audience shares (A14-49)

[Full day; in percent]

Page 25

| May 07, 2015

Successful new formats launched in prime time

1 2 3 4

Basis: All German TV households (Germany + EU), A 14-49 years; prime time 20-23h.

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

Audience share (max.)

“Die Ungehorsame”

12.6%

“Einstein”

13.8%

“The Flash”

up to

20.3%

“Gotham”

up to

20.3%

“Laura Diamond”

up to

12.1%

“Stalker”

up to

14.4%

German fiction US series

Page 26

| May 07, 2015

Continued growth of small channels

1 2 3 4

Audience shares (A14-49) [Full day; in percent]

All figures: Q1 2015 vs. Q1 2014. Basis: All German TV households (Germany + EU), A 14-49 years; Mon-Sun, full day 3-3h.

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

1.4%

±0.0%pts

1.2%

+0.7%pts

1.1%

+0.3%pts

Page 27

| May 07, 2015

Our focus for the upcoming months

3

1 Increase audience share

2 Build share in female target groups

Leverage digital synergies to drive viewer loyalty

1 2 3 4

Page 28

| May 07, 2015

Thomas Ebeling

Chief Executive Officer

Ad Market Performance

Broadcasting

German-speaking

Page 29

| May 07, 2015

Positive advertising start in Q1 2015

1 2 3 4

✔

✔

✔

P7S1 German-speaking FTA also with strong TV ad growth of 4.2%

Continued increase of TV share in media mix ¹

First customers for regional TV advertising

✔

Strong German net TV ad market growth in Q1

✔

Continued positive net pricing development

1. Source: Nielsen; gross figures excluding YouTube and Facebook.

Page 30

| May 07, 2015

Continued leading ad share position in Germany

Switzerland Austria

Germany

Q1 2014 Q1 2015

27.8%

44.4%

35.0%

29.0%

43.6%

35.8%

ProSiebenSat.1 gross TV advertising market share [in percent]

Source: Nielsen Media Research (Germany), Media Focus (Austria, Switzerland).

1 2 3 4

Page 31

| May 07, 2015

TV continues to benefit at the expense of other media

Gross ad spendings, Germany

[in percent and %pts; Q1 2015 vs. Q1 2014]

Source: Nielsen Media Research. Online exclusive search, affiliate and others not reporting their bookings to Nielsen (e.g. Youtube, Facebook).

1 2 3 4

Outdoor, Cinema Magazines Newspaper Radio TV Total

Online

-0.8%pts -0.2%pts

-0.2%pts

+1.0%pts 100.0%

46.3%

11.0%

5.9%

17.1%

13.7%

6.0%

Share of segment Change in media mix

+0.4%pts

-0.2%pts

Page 32

| May 07, 2015

7 out of 10 biggest industries increased TV share

439 416 319 317 220 206 168 138 104 76 3.020

14.5%

13.8%

10.6%

10.5%

7.3%

6.8%

5.6%

4.6%

3.5%

2.5%

+17.4%

+7.0%

+16.9%

+0.0%

+46.5%

-2.0%

-5.5%

+3.9%

-6.7%

-18.3%

+1.9%pts -1.9%pts +1.2%pts +4.8%pts +8.4%pts -8.0%pts +0.6%pts -0.1%pts

+1.3%pts +0.9%pts

100.0% +6.0% +1.0%pts

Gross TV ad spendings of top 10 TV industries, Germany [in EURm, percent and %pts; Q1 2015 vs. Q1 2014]

in EURm Share Δ Δ TV in media mix

171 65

27 46 0

-4

70

-10 5 -8 -17

Source: Nielsen Media Research (excl. Media & Publishing and Other Advertising).

1 2 3 4

Detergents Beverages Finance Pharmacy Food

Cosmetics & Toiletries

Motor Vehicles Telecommunication Business Services Trade & Shipment

in EURm

Total

Page 33

| May 07, 2015

Continued CPT increases in Q1

CPT = Cost Per Thousand. Adults 14-49, Mon-Sun, full day 3-3 h.

Base: all TV households in Germany (D+EU) / Source: AGF in cooperation with GfK / TV Scope / SevenOne Media / Pricing & Media Strategy.

1 2 3 4

5.4 4.5

11.8

17.2

9.2

Gross CPT growth Q1 2015

[in percent vs. Q1 2014]

Page 34

| May 07, 2015

Significant net CPT increases since 2009

1 2 3 4

Net CPT development [Index: 2007=100]

80 90 100 110 120 130

2007 2008 2009 2010 2011 2012 2013 2014 2015

Estimate

Market

Basis: All TV-HH (D+EU), TA 1-30; SevenOne Media: SAT.1, ProSieben, kabel eins; IP: RTL, VOX.

Source: AGF/GfK, TV Scope, SevenOne Media, Pricing & Media Strategy, own calculations.

Page 35

| May 07, 2015

Approved by Federal Administrative Court

High demand in market for regional TV ads

First cases of regional TV advertising realized

First successful pilot cases set up in NRW, Hessen and BW

1 2 3 4

Utility providers Lotteries

Breweries Car dealers

Furniture dealers Retailers March: Transmission areas of

UnitymediaKabelBW: Hessen, North Rhine-Westphalia, Baden Württemberg

May: Bavaria; Q3 2015: all other

transmission areas of Kabel

Deutschland (all other regions)

Page 36

| May 07, 2015

Microsite with videos and store locator Automatic display of all stores nearby Store websites linked via QR Codes

1 2 3 4

First regional overlay on national TV Spot via HbbTV geo-targeting

Pilot Case

„Proof of Concept“

Product Launch

Q3 2015

Page 37

| May 07, 2015

H1 impacted by Easter and sport event timing in 2014

1 2 3 4

Source: ProSiebenSat.1 estimate.

German net TV ad market growth by quarter

March April

Expected Easter and soccer effects on net TV ad market, growth 2015 vs. 2014

2015

[in percent] [in percent]

May June

Q1 Q2

2014 2015 2014 2015

• March 2015 benefitted from earlier Easter

• April 2015 negative due to Easter effect

• May 2015 likely as well soft - no WC soccer related pull forward effects from June into May as in prior year

• June 2015 expected strong

Q2 TV ad market overall

expected to be slightly

growing vs. previous year

Page 38

| May 07, 2015

First three quarters of 2014 had a higher share than annual average for P7S1, leading to tougher comparables until Q4

1 2 3 4

Q1 2014 Q2 2014

ProSiebenSat.1 estimated net TV ad share vs. IP Germany, 2014 [deviation vs. average share in 2014]

Q3 2014 Q4 2014

Ø Q4 will drive

P7S1 2015

ad share

performance

Page 39

| May 07, 2015

Solid single-digit net TV ad market growth forecast

+2-3%

German net TV ad market estimates 2015

+1.9% +3.2%

Source: Warc Consensus Ad Forecast January 2015, ZenithOptimedia Advertising Expenditure Forecasts March 2015, ProSiebenSat.1 estimate.

1 2 3 4

Consensus Ad Forecast P7S1 internal market estimate

Page 40

| May 07, 2015

Sales outlook 2015

3 1 2

4

German net TV advertising market growth of 2-3%

P7S1 to grow at least in line with market

Net CPTs to further increase due to increased value of reach

New business to benefit from first regional customers

1 2 3 4

Page 41

| May 07, 2015

Conrad Albert

Chief Legal, Distribution &

Regulatory Affairs Officer

Distribution

Broadcasting

German-speaking

Page 42

| May 07, 2015

Dynamic growth of Q1 revenue and HD subscribers

1. Q1 2015 vs. Q1 2014.

Note: HD Free-to-air subscribers shown; paying subscriber figures as reported by platform partners (EoP; subject to subsequent adjustments by platform partners); total of 5.6m.

1 2 3 4

+1.0m

+21%

EUR +5.4m

+26%

P7S1 distribution revenue growth ¹

P7S1 HD

subscriber growth ¹

Page 43

| May 07, 2015

Additional deals signed to push HD and Pay TV reach

1. Primacom ~1.1m and telecolumbus ~1.1m addressable households. 2. UPC Austria 0.5m and UPC Switzerland 1.4m addressable households.

1 2 3 4

Deal extensions for more than 3 years

Inclusion of 2 FTA channels and

extension of mobile, streaming and catch up rights Reach increase for Pay TV channels

Deals with beneficial terms and conditions

Page 44

| May 07, 2015

HD platform

All P7S1 HD channels available as of launch

Terrestrial distribution milestone deal signed

Note: Media Broadcast is the service provider owning the license for terrestrial signal distribution.

1 2 3 4

“DVB-T2” leads to first time monetization of terrestrial distribution for broadcasters

Launch and monetization in 2017

Page 45

| May 07, 2015

Digital & Adjacent

Dr. Christian Wegner

Chief Digital & Adjacent Officer

Page 46

| May 07, 2015

Ext. revenues Rec. EBITDA

Double digit growth in revenues and rec. EBITDA

1 2 3 4

[in EURm] [in EURm]

0 50 100 150

Q1 2015 138.2

Q1 2014 105.9

0 10 20 30

23.8

Q1 2014 Q1 2015 26.8

1. Entity rec. EBITDA / Ext. revenues.

~20%

EBITDA margin ¹

+30% +12%

Page 47

| May 07, 2015

All D&A units contributed to our strong growth …

1 2 3 4

Revenues [Q1 2015]

Revenue growth [Q1 2015 vs.

Q1 2014]

Digital Entertainment

EUR

52.0m +21%

Adjacent

EUR

16.6m +12%

Digital Commerce

EUR

69.6m

+44%

Page 48

| May 07, 2015

Digital Entertainment

Digital Entertainment Digital Commerce Adjacent

A B C

Ad VoD Pay VoD Games M4R/E 7Travel 7Commerce

Music, Artist Mgmt.,

Live, Licensing

… with market leading positions in our seven D&A verticals

Beauty & Accessories⁴

#1

#1

Top

3² #4

#1

Top 5

#2

#3 Top

5

#1

#1

#1

#1

#2

Top 3¹

Q1 2015 rev.

split

38%

1. SVoD market Germany, according to GfK. 2. Mobile and PC games publisher in Europe, excluding direct publishing by developers, P7S1 estimates. 3. Selected assets only; not fully consolidated.

4. Acquisitions of remaining 53% equity stake in Flaconi (to 100%) and additional 52% equity stake in Amorelie (to 75%), both signed in Q1 2015 with envisaged closing in Q2 2015.

1 2 3 4

12%

50%

increased stake

Market position

Page 49

| May 07, 2015

… to be further boosted in full year Solid Q1 growth in premium video ad market …

1. Source: Nielsen Media Research Jan-March; German instream video ad market without Google / YouTube, Amazon, Facebook, longtail ad networks (Smartclip, etc.)

ProSiebenSat.1 maintaining #1 position in a growth market

1 2 3 4

A

ProSiebenSat.1 +15%

#1

in premium video ad market

Nielsen in-stream video ad market

Ongoing increase of video ads on smartphones and tablets

Continued shift from classic display to video ads

Growth of programmatic buying for online video

76 87

Q1 2014 Q1 2015

Page 50

| May 07, 2015

Studio71 is now the #1 Multi Channel Network in Germany

Digital Entertainment

#1 German MCN in video views

1 2 3 4

A

1. Video views of Top 10 German MCNs according to ComScore YouTube Partners Report, March 2015.

German desktop video views

#1

• Focus on fewer channels & intensive webstar relations

• Own successful web-only content, e.g. Let’s Play Poker

• New Branded Entertainment clients, e.g. Coca Cola, Red Bull

Growth drivers for

Studio71

Page 51

| May 07, 2015

maxdome continues to grow in Q1 2015 …

+78% +109% +53%

SVoD subscribers

Total video views

Total user base

1 2 3 4

A

Note: All figures Q1 2015 vs. Q1 2014.

Page 52

| May 07, 2015

Initial results in line with maxdome projections …

… to be boosted in the full year by additional Unitymedia Horizon users ¹

… with further upside from Unitymedia distribution deal

1 2 3 4

A

Partnership recently launched in March 2015

Positive customer response to maxdome service on Unitymedia

>70,000

net adds to Horizon TV in Q4 2014

maxdome embedded into Unitymedia services e.g., Horizon

set-top box

1. The majority of Unitymedia Horizon customers will be maxdome subscribers. 2. Unitymedia KabelBW 2014 Results.

Page 53

| May 07, 2015

We have a broad investment portfolio with >60 assets

Note: Investments based on straight equity or equity-like components by entire D&A segment, incl. Accelerator; “other investments” by Digital Entertainment and Adjacent not shown.

1. On a non-diluted basis (warrants and convertibles included in <10%). 2. Majority acquisitions in Flaconi and Amorelie signed in Q1 2015 with envisaged closing in Q2 2015.

B

Minorities (10-50%) ¹ Majorities (>50%) ² Minorities (<10%) ¹

~30 assets ~20 assets 13 assets

Selection Selection

Selection

1 2 3 4

Page 54

| May 07, 2015

Our Travel vertical is growing twice as fast as the market …

1 2 3 4

B

• Strong TV synergies

• CRM ² optimization

• SEO ³ excellence

7Travel growth drivers

1. Weighted average growth of relevant markets (OTA packaged tours, Independent Virtual Tour Operators, Gift voucher market, Car rental, supplier sites & OTAs, Weather). Source: TravelTainment, PhoCuswright, AGOF, PS71 estimates. 2. CRM: Customer Relationship Management. 3. SEO: Search Engine Optimization.

[in %

]

25 11

Relevant market

Growth rate comparison

Relevant market

~2x

Growth rate Q1 2015 vs. Q1 2014

Page 55

| May 07, 2015

… and now comprises six assets

1 2 3 4

B

#1

#3

#1

#1

Top 5

Market position

NEW

1. 100% share in Discavo.

EUR

~160m

LTM

revenues

Page 56

| May 07, 2015

Established Beauty & Accessories vertical

1 2 3 4

B

1. Acquisitions of remaining 53% equity stake in Flaconi and additional 52% equity stake in Amorelie, both signed in Q1 2015 with envisaged closing in Q2 2015.

2. Amorelie, Flaconi and Valmano have been minority assets, thus revenues are not consolidated.

#2 in

online beauty & care

#1 in

sexual wellness main-stream

Top 5 in

online jewelry retail

100% ¹ 75% ¹ 51%

+170%

Q1 2015 vs.

Q1 2014

ProSiebenSat.1 stake

Page 57

| May 07, 2015 1 2 3 4

B Amorelie launches in France, supported by our Media Alliance

Our asset Amorelie

“exported” to France

Export supported by Media Alliance

partner TF1

Our Pan-European Media

Alliance with >200m reach

Page 58

| May 07, 2015

Strong revenue growth …

Our M4R/E investments deliver strong growth

1 2 3 4

B

7Ventures revenues

Q1 2015 Q1 2014

~25%

… with an expanding portfolio of international deals

Market leader in fashion subscription retailing Market leader in wearables

Leading customer rewards app

Market leader in fitness dance classes

1. Total 7Ventures business (incl. International, Austria, Switzerland and Legacy). 2. Exit proceeds in Q3 2014, but continuing partnership.

Page 59

| May 07, 2015

Starwatch position expanded with tour co-production activities

1 2 3 4

1. 6 out of our own 10 prime LP releases entered the status ‘Top5’ in overall Q1 weekly overviews. 2. a-ha homepage.

Photo credit: Universal Music.

C

36m

a-ha albums sold worldwide

Closed co-production deal for a-ha come backtour Successful Q1 label releases

60%

Top 5 hit rate in German

charts

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| May 07, 2015

Digital & Adjacent – outlook

1 2 3 4

Deliver double digit revenue growth in FY 2015

Build new digital verticals

Further internationalize with more imports and exports

1

2

3

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| May 07, 2015

Content Production &

Global Sales

Thomas Ebeling

Chief Executive Officer

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| May 07, 2015

Outstanding growth in revenues and rec. EBITDA

1 2 3 4

Ext. revenues Rec. EBITDA

45.6

26.0

Q1 2015 Q1 2014

-2.5

0.7

Q1 2015 Q1 2014

+76% +127%

[in EURm] [in EURm]

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| May 07, 2015

Record breaking Amazon series Bosch recommissioned

1 2 3 4

Season 2 ordered only one month after the release of season 1

1. Across all movies and TV series in its first four weeks.

Biggest debut weekend ever for an Amazon Original Series

Most watched show on Amazon

Prime Instant Video ¹

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| May 07, 2015

Continued ratings success of returning English language shows

1 2 3 4

Season 13 Season 5 Season 5

Season 2 Season 2

Season 3

40%

of productions are returning

series

1. Red Arrow Entertainment Group produced shows with revenues booked in Q1 2015.

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| May 07, 2015

Hot from MIPTV: sales and acquisition highlights

1 2 3 4

First original drama to be commissioned

by Hulu in Japan Tape rights picked up by

Red Arrow International.

Already sold in 5 territories

Scandi crime drama sold to Mediaset Italy

80%

on DR1 (Denmark)

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| May 07, 2015

Future partnership with Europe’s #1 motion capture studio

1 2 3 4

Portfolio includes: "Star Wars: The Force Awakens“, "Avengers: Age of Ultron“, "Dawn of the Planet of the Apes“

Joint initiative to develop high-end scripted TV drama for the international market

Initial 1 year co-development and distribution agreement (worldwide incl. UK), with option to extend

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| May 07, 2015

Summary & Outlook

Thomas Ebeling

Chief Executive Officer

Page 68

| May 07, 2015

We confirm our positive full-year guidance

1 2 3 4

Continuing operations.

Recurring EBITDA and underlying net income above prior year Digital & Adjacent with double-digit revenue growth

Ad performance at least in line with positive net TV ad market Mid to high-single digit Group revenue growth

✔

✔

✔

✔

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| May 07, 2015

Disclaimer

This presentation contains "forward-looking statements" regarding ProSiebenSat.1 Media AG ("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.

Page 70

| May 07, 2015