DIGITAL COMMERCE PLATFORMS

DIGITAL COMMERCE PLATFORMS

Claas van Delden, Mark Klimmek, Dr. Florian Tappeiner

WE’VE BUILT MULTIPLE LEADING COMMERCE PLATFORMS

1) Germany, Switzerland and Austria 2) Over-the-counter (prescription-free medical products) 66

Selection only

#2 cross- vertical

Online Comparison

Portal

#1 match- making platform in GSA

region

Germany’s leader in

gift vouchers

Leading German

OTC

platform

in mass retail

Fastest growing

online beauty platform

Only

lifestyle

brand in

sensual

wellness

67

J. Schweizer mydays Group

Parship Elite Group

Verivox

2

1

3

Windstar 4

Flaconi 5

#2 cross-vertical Online Price Comparison portal

Majority investment: 2015 P7S1 stake: 79%

Other shareholders: Oakley Capital, founders, management Management team:

 Chris Öhlund | CEO

 Christoph Jennen | CFO

 Klaus Hufnagel | COO

Amorelie

6

VERIVOX IN NUMBERS

1) Excluding Preis24 68

Market position in GSA region

#2

EBITDA CAGR 2014–2017E ¹⁾

>20%

Customers

served since 1998

>8m

1

VERIVOX HELPS CONSUMERS SAVE MONEY

1) Customer Acquisition Cost 69

Business model

EXAMPLE: ENERGY VERTICAL

2

Verivox compares tariffs of providers

5

Verivox sends contract data to provider

6

Provider pays commission to Verivox

1

Consumer enters product requirements

3

Consumer selects best tariff

4

Consumer finalizes and transmits

application

Consumer

Motivation – Compare prices to save time and

money

Compares >29,000 tariffs of 1,000+

providers for transparent market overview Motivation –Generate revenues through commissions, advertising, and B2B services

Provider

Motivation – Success- based, low-cost sales channel (~40% savings

in CAC¹⁾)

VERIVOX WITH A STRONG CONSUMER PROPOSITION

1) Estimated savings vs. assumed previous contract expenses 70

>2.0bn

“YOUR TARIFF EXPERTS.

COMPARE WITH US &

SAVE.”

EXPERIENCED RELIABLE TRANSPARENT

AWARD-WINNING TRUSTED CONSUMER

BRAND

64x

EUROS SAVED BY CONSUMERS USING VERIVOX

1

German Online Price Comparison (OPC) market

[2016 and 2021E by segment]

Market in 2021E:

EUR ~1.0bn

GERMAN OPC MARKET TO GROW SIGNIFICANTLY

1) EUR >1m revenues

Source: Bundesnetzagentur; Deutsche Bundesbank; market intelligence 71

Banking TelCo Insurance

Energy

Market in 2016:

EUR ~0.6bn

Other

Active¹⁾since: >16 yrs >10 yrs >3 yrs >2 yrs

[in EUR, 2015]

UK CONFIRMING VERIVOX’ SIGNIFICANT GROWTH POTENTIAL

1) Player 5: uswitch 2) Energiewirtschaftsgesetz –EnWG, 2005 3) Estimate 4) Increasing to EUR 1.5-2.0 in past two years

Source: P7S1 market model; Destatis; OC&C; Roland Berger; Greenhill; market intelligence 72

OPC REVENUES PER HOUSEHOLD MARKET COMPARISON ENERGY:

UK VS. GERMANY

34

15

x 2.3

# of market players with EUR >80m revenues: 2

# of market players with EUR >80m

revenues: 4¹⁾ Year of

deregulation

Average spent on TV media last 5 years (p.a.)³⁾ Growth of number of switchers in past 5 years

Switcher in % of all households

1999

EUR ~4 per household

~ +20%

~17%

2005²⁾

EUR ~1⁴⁾ per household

~ +25%

~11%

Traffic and frequency of usage are key drivers for future growth

1

STRATEGIC ACQUISITIONS TO DRIVE MONETIZATION

73

LEADING MULTI- BANKING APP

#2 CROSS-VERTICAL ONLINE COMPARISON

PORTAL GERMANY’S LEADING

ONLINE CANCELLATION SERVICE

“Drive frequency”

“Drive monetization”

“Increase traffic”

>5m cancellations p.a.

OPPORTUNITY TO BUILD FIRST PAN-EUROPEAN OPC

1) Share of purchases using OPC websites

Source: Google consumer barometer survey of internet users 2014/15: >1,500 people surveyed about their last purchase of car insurance 74

Verivox Case Study

Several M&A targets to

become available in upcoming 24

months

1

OPC PENETRATION BY COUNTRY

[in %]

25 24 26

33 41

52

AND WE KNOW HOW TO SCALE OPC BUSINESSES

1) Exemplary in Energy vertical, extrapolated for 2017 based on YTD growth 2) Property & Casualty 75

BRAND AWARENESS

+63%

Mar 2017 Dec 2014

[indexed, 2014 = 100%]

CONVERSION RATE

 Energy: Entered SME and industrial segment

 TelCo: Acquired Preis24 to strengthen TelCo vertical

 Insurance: Built own P&C²⁾

calculators for products beyond cars

 International: Launched Verivox Switzerland

DIVERSIFICATION

+37%

2015

2014 2016 2017E

VERIVOX FIRST OPC SUPPLIER OFFERING TARIFF COMPARISON VIA VOICE WITH AMAZON’S

ALEXA

DEEP DIVE: PARSHIP ELITE GROUP (PEG)

76

J. Schweizer mydays Group

Parship Elite Group

Verivox

2

1

3

Windstar 4

Flaconi 5

#1 matchmaking platform in GSA

Majority investment: 2016 P7S1 stake: 50% +1

Other shareholders: Oakley Capital, management Management team:

 Tim Schiffers | CEO

 Henning Rönneberg | COO

 Marcel Schachtel | CTO

Amorelie

6

PARSHIP ELITE GROUP IN NUMBERS

77

Market position in GSA

#1

EBITDA CAGR 2014-2017E

45%

Babies born to Parship &

ElitePartner couples

>100k

VIRTUOUS CIRCLE HELPS EXPAND MARKET LEADERSHIP

1) Germany, Switzerland and Austria 78

Business model

2

Strong brands

Highest share of ad and efficient marketing

Largest database of users in GSA¹⁾

Optimized conversion of online (brand) traffic Best in class

user monetization

Combined with

Leads to Enables

As basis for

OUR TWO COMPLEMENTARY STRONG BRANDS …

1) Based on Parship customer survey, 2016 79

The biggest and most experienced

matchmaking service The premium matchmaker for academics and high-class singles

1)

[top of mind, Germany]

… HAVE A SUPERIOR BRAND POSITIONING …

Source: Kantar TNS Brand Awareness Tracking Online Dating 80

2017 2014

2010

2009 2011 2012 2013

2

ONLINE DATING BRAND AWARENESS

1) In 2016, GSA 81

Price High

Free Sex/affair

Flirt/date Relation- ship

Intention of members

Casual dating

Online matchmaking (OMM)

Single platforms

Market Size

: EUR >250m

 Highest willingness to pay

 Lowest

substitution risk from free players

 Highest customer lifetime value

… AND ARE LEADING IN MOST ATTRACTIVE SEGMENT

ONLINE MATCH MAKING

GERMAN MARKET YET WITH STRONG UPSIDE POTENTIAL

1) Market = Singles aged 25-55 (~80% of Parship users), at least ‘weiterführende Schule/ Mittlere Reife’ (~90% of Parship users), looking for a serious relationship 2) Only French & German-speaking Switzerland considered

Source: EY consumer survey 2016; management information; JP Morgan 82

2

[in % of respondents, 2016]

ONLINE MATCHMAKING MARKET PENETRATION

[Avg. marketing spend per capita 2015-2017E, in EUR]

PEG MARKETING SPEND

21 15

x2

27

1.5

0.7

x3

0.5

Note: Statements may vary due to rounding

Source: EY consumer survey 2016; management information/analysis 83

[% of respondents, Germany, 2016]

ADOPTION OF ONLINE DATING BY AGE GROUP

[% share of age group among total subs, Germany]

PARSHIP FIRST-TIME SUBSCRIBERS BY AGE GROUP

6 6

13 12 15

19

18-29 30-39 40-49 50-59 60-69 70+

Age group

39

2012 35-44

45+

26 36

18-34

2016 30

40

30

17%

16%

28%

CAGR ’12-’16

>50%

mobile

registrations

MILLENIALS TO DRIVE ONLINE MATCH MAKING GROWTH

IN THE FUTURE

UNIQUE INCREASE IN CUSTOMER MONETIZATION

1) Customer Lifetime Value in revenue 2) Cost Per New Customer

Source: Management information/analysis 84

2

Parship CLV

and CPNC

in GSA

[indexed, 2012 = 100]

159 169 139 151

118 100

120 129 111 113

100 109

2016 2017E

2015 2014

2012 2013 CLV CPNC

CLV: 11%

CPNC: 5%

CAGR ’12-’17E

1) Shares held through Jochen Schweizer Beteiligungs GmbH

Note: Majority investment in mydays with subsequent acquisition of Jochen Schweizer in 2017 85

J. Schweizer mydays Group

Parship Elite Group Verivox

2 1

3

Windstar 4

Flaconi 5

Germany’s leader in gift vouchers

Majority investment: 2013 (mydays) & 2017 (J. Schweizer) P7S1 stake: 90%

Other shareholders: Mr. Jochen Schweizer

Management team:

 Fabian Stich | CEO

 Florian Herschke | CFO

 Lars Brinkmann | CTO

Amorelie

6

JOCHEN SCHWEIZER MYDAYS GROUP IN NUMBERS

1) CAGR based on normalized EBITDA 86

Market position in GSA

#1

EBITDA CAGR ¹⁾ 2015–2017E

>50%

Contracted providers

>3,000

3

Want to find the right experience/gift easily from

large set of options

CONNECTING CONSUMERS WITH EXPERIENCE PROVIDERS

87

Business model

CUSTOMERS PROVIDERS

Fragmented provider structure with choice of

>4,300 experiences THEMED SHORT TRIPS

CULINARY EXPERIENCES SPORTS & ACTION EXPERIENCE BOXES

TWO BRANDS WITH COMPLEMENTARY POSITIONING

88

Two brand strategy

3

Leading in emotional experiences Leading in adrenalin experiences

Acquisition closed in October 2017

“Soft & emotional” “Strong & rational”

Experience specialist market

[by commission and segments in Germany, 2016]

LEADING THE EXPERIENCE SPECIALIST MARKET

Source: Euromonitor 89

Wellness &

lifestyle Sports

& action Music &

sport events

>3%

Others

>23%

>49%

>35%

Culinary experiences

>20%

Themed short trips

Market size:

EUR ~420m

SIGNIFICANT SYNERGIES FROM MERGER

90

3

Operations Revenue

upside Performance

marketing Efficiency

gains

Revenue split by distribution channel

[in %, 2016]

STRONG OMNICHANNEL DISTRIBUTION FOOTPRINT

1) mydays listed in >7,000 retail POS 91

45 own retail shops

Listed in >5,000 retail POS

Online

Offline

100%

>15¹⁾

>35

DEEP DIVE: WINDSTAR

1) Not part of management 92

J. Schweizer mydays Group

Parship Elite Group Verivox

2 1

3

Windstar

4

Flaconi 5

Leading German OTC platform in mass retail

Majority investment: 2016 P7S1 stake: 92%

Other shareholders: Founders

Management team:

 Thomas Weiß | CEO

 Wolfgang Hahn | Managing director

 Dr. Andreas Bender | Managing director

Amorelie

6

WINDSTAR IN NUMBERS

1) Market position in branded and private label mass market segments 2) >50 brands in innovation pipeline 93

Market position in GSA region ¹⁾

#2

Revenue CAGR 2015–2017E

12%

# of active brands in portfolio ²⁾

>5

PRIVATE LABEL (PL) OTC

BRANDED OTC

LEADING GERMAN OTC PLATFORM IN MASS RETAIL

94

Business model

Contract manufacturer

Drugstores/

grocery

Consumers

WINDSTAR (WSM) AS CATALYST FOR THE NUCOM GROUP’S OMNICHANNEL APPROACH

4

MAJOR TRENDS FUELING CONTINUED GROWTH IN OTC

95

Growing interest in

self- medication Overall

drugstore outlet expansion

Trend towards prevention and wellness Increasing

offline to online shift

Aging population

Channel dynamics Consumer dynamics

HIGHLY FRAGMANTED & LARGE MASS MARKET SEGMENTS

96 Source: Desk research; dm-Extranet; management information/analysis; Nielsen panel; BAH report 2014; Nielsen Promarcon report

Private label mass market

[in % of total market, Germany, 2016]

Branded mass market

[in % of total market, Germany, 2016]

Other ⁶⁹

16

15 3

Other 5

14 18

11

5 21

22

Total market: EUR ~360m Total market: EUR ~640m

4

DRUGSTORE OUTLET EXPANSION IN GERMANY – EXAMPLE: DM –

[# of stores, Germany]

OUTLET EXPANSION SUPPORTING UNDERLYING GROWTH

Source: Desk research; management information/analysis; IPSOS survey 04/2017 97

936

2016 1,825

2013 1,480 +8% p.a.

1,185

2010 2007

TV AS KEY BRAND GROWTH LEVER FOR WINDSTAR

Source: IPSOS survey 04/2017 98

[TV impact, example SOS, 04/2017]

Brand awareness

+15%

Purchase intent

+23%

SOS TV CAMPAIGN IN 2017 PROVEN TV IMPACT

4

Revenue growth by brand

[growth in %, 2014-16]

SOS BRAND OUTPERFORMS ITS OTC COMPETITORS …

Source: Nielsen 99

-10 8

32 30 46 40

66

No revenue sharing and high customer ownership

… AND HAS ESTABLISHED A STRONG ONLINE PRESENCE

Existing online presence and easy customer access Existing relationships

with retailers

Largest online retailer and full service offering

100

4

101

J. Schweizer mydays Group

Parship Elite Group Verivox

2 1

3

Windstar 4

Flaconi

5

Fastest growing online beauty platform

Majority investment: 2015 P7S1 stake: 100%

Other shareholders: - Management team:

 Dr. Steffen Christ | COO

 Thomas Faschian | CCO

 Kathrin Nusser | CFO

Amorelie

6

FLACONI IN NUMBERS

Note: Market position based on eCommerce revenues in Germany 102

Market position in GER

#2

Revenue CAGR 2014-2017E

103%

# of brand listings

>450

5

FLACONI IS A LEADING ONLINE BEAUTY DESTINATION

1) Selection only 103

Business model

CUSTOMERS BRANDS

FRAGRANCES COLOR COSMETICS

SKINCARE

BEAUTY ACCESSORIES ONLINE

FRAGRANCES

STRONG OFFLINE-TO-ONLINE SHIFT DRIVING GROWTH

Source: Institut für Handelsforschung 104

Addressable online market

[Germany, in EUR bn]

Beauty & Care market

[Germany, in EUR bn]

 Online market mainly premium

 Premium is the addressable

market for Flaconi

2016 Offline 12.7

Online 1.2 13.9

9% Online 17%

penetration 1.2

2.4

2016 2020E

+19% p.a.

5

Share of repeat customers

[by cohorts, in %]

HISTORIC COHORTS SUBSTANTIATE GROWTH AMBITIONS

105

Year 3 after initial purchase Year 2 after

initial purchase +14

+20 +18

Year 1 after initial purchase

2014 2015 2013

2012

More recent cohorts with systematically higher

repurchasing rates

Year of first purchase:

Strong cohort loyalty

after year 1

PREMIUM BRANDS DRIVING FLACONI’S GROWTH

1) Based on value in EUR, YTD September 2017 106

5

Development of brand listings

[in numbers]

Flaconi increasingly important partner

for beauty industry

Impressive fulfillment capabilities of Flaconi to optimize customer

experience

Premium wrapping for ‘Scandal!’ perfume

368 283

>450

2015

+60%

2016 2017

FUTURE POSITIONING AS BEAUTY & CARE DESTINATION

107

BEAUTY

Create the online destination for luxurious beauty products

INSPIRATION

Provide meaningful and targeted recommendations

OWN BRAND

Expand influence by developing own products based on consumer data

Sneak preview

DEEP DIVE: AMORELIE

108

J. Schweizer mydays Group

Parship Elite Group Verivox

2 1

3

Windstar 4

Flaconi 5

Only lifestyle brand in sensual wellness

Majority investment: 2015 P7S1 stake: 75%

Other shareholders: Founders Management team:

 Lea-Sophie Cramer | Founder & CEO

 Sebastian Pollok | Founder & CCO

 Talip Yenal | CFO

Amorelie

6

AMORELIE IN NUMBERS

1) Based on 2017E revenue share 109

Market position in GSA

#2

Revenue CAGR 2014-2017E

92%

Share of private label brands ¹⁾

>40%

AMORELIE IS A LEADING SENSUAL LIFESTYLE PLATFORM

1) Such as the ‘Adventskalender’ 2) Selection only 110

Business model

ONLINE OFFLINE RETAIL DIGITAL

PLATFORMS DIRECT SALES

3^rd PARTY

BRANDS OWN

BRANDS

CUSTOMERS BRANDS

LOVE TOYS LINGERIE BODY & CARE DISCOVERY BOXES¹⁾ 6

ONLINE MARKET EXPECTED TO GROW BY 11% PER YEAR

1) Market for sexual wellness products

Source: TrendMonitor; Globometer 111

Online market

[Germany, in EUR bn]

Total addressable market

[by distribution channel, in EUR bn]

 Online penetration

expected to increase to 32% until 2020

 Offline market growing at 6% p.a. providing additional source of growth

1.2

0.9

0.3 2016 Online

Offline

26% Online 32%

penetration +11% p.a.

2020E 0.5

2016 0.3

[Google Trends] [organic desktop traffic, Germany]

STRONG AMORELIE BRAND WITH SUSTAINABLE TRAFFIC

Source: YouGov 2017 YTD; Similarweb July 2017 112

0 10 20 30 40 50 60 70 80 90 100 110

Eis.de Amorelie Beate Uhse

6

BRAND INTEREST ORGANIC SEARCH TOP 4 PLAYERS

24%

38%

14%

24%

Amorelie captures 38% of all

organic search requests

STRONG OMNICHANNEL DISTRIBUTION FOOTPRINT

113

Direct sales

>10 private label brands online

Large digital sales platforms

Listed in

>2,000 retail POS

Selection only

UNIQUE OMNICHANNEL FOOTPRINT IN THE INDUSTRY – NO COMPETITOR WITH SIMILAR POSITIONING

Selection only

JOURNEY TO SENSUAL LIFESTYLE BRAND INITIATED

114

INTENSE

Create positive & intensified experiences

SENSUAL

Trigger senses in a meaningful way

INDIVIDUAL

Highlight personality and values

HAPPY

Feel the lightness & bliss of the moment

Sneak preview

6

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.