q2 2021 results presentation

(1)

q2 2021

results presentation

August 5, 2021

(2)

AGENDA

2

1. Key Messages 2. Financial Overview 3. Operational Review 4. Strategy & Outlook

(3)

3

PROSIEBENSAT.1’S BUSINESS HAS RECOVERED STRONGLY IN Q2 2021

Entertainment segment with significant recovery:Revenues reached 736m (+55%

vs. Q2 2020) as the advertising market environment normalizes. Q2 2021 advertising revenues on pre-pandemic level.

Diversified strategy based on three strong segments continues to pay off: Dynamic Group revenue growth of 48% to EUR 1,048m in Q2 2021 vs. Q2 2020. Record LTM Q2 2021 Group revenues of EUR 4,399m.

Significant improvement of Group adjusted EBITDA by EUR 142m to EUR 166m alongside recovery of advertising business. Adjusted net income improved by EUR 114m to EUR 63m in Q2 2021. Our cash flow, net debt andfinancial leverage

improved significantly and sustainably.

Consequently, and considering a solid economic environment in the German-speaking markets, we have increasedour financial targets for FY 2021.

Commerce & Ventures achieved strong organic revenue growth of 18% with a broad-based recovery of most businesses; Dating segment benefiting from first- time consolidation of The Meet Group.

(4)

COVID-19 AND MACRO INDICATORS REVEAL STRONG MARKET RECOVERY, ESPECIALLY IN Q2 2021

COVID-19 KPIS ARE IMPROVING RAPIDLY, WHILE MACRO INDICES INCREASED

Completed COVID-19 vaccinations, Germany New COVID-19 cases, Germany

IFO business expectations index Markit Germany Service PMI index In million

70 80 90 100 110

07/21 07/20

01/20 01/21

Last price

1001/20 07/21

50

07/20 01/21 30

70

Last price

Source: Bloomberg as of July 31, 2021

0 20 40 60

07/21 03/21

01/21 05/21

In %

4

01/20 07/20 07/21

0.6

01/21 0.0

0.2 0.4 0.8

(5)

Q2 2020

DYNAMIC GROUP REVENUE INCREASE OF +48% TO EUR 1,048M IN Q2 2021 VS. Q2 2020 - ADVERTISING BUSINESS BIGGEST GROWTH CONTRIBUTOR

Note: Organic = adjusted for portfolio and currency effects; Pro-forma = on the basis of the segment’s revenues adjusted for portfolio and currency effects, the revenues of The Meet

Group and its revenues adjusted for currency effects in the previous-year quarter are included here 5

709

476

58 176

1,048

736

139 172

Group revenues Entertainment Dating Commerce & Ventures

Entertainment Dating Commerce & Ventures Group

External Revenues [in EUR m]

Q2 2021

Q2 2020 Q2 2020 Q2 2021

Organic Growth YoY [in EUR m]

+48% +55% >+100% -2%

Q2 2021 Q2 2020 Q2 2021

•

All segments contributed to Group revenue growth

•

Highest second-quarter revenues in Group history

•

Strong recovery of TV and digital ad business

•

Content business up strongly, Distribution growth continues

•

Strong reported growth driven by first-time

consolidation of The Meet Group

•

Matchmaking about flat

•

Broad-based revenue growth of C&V businesses

•

COVID-19-impacted businesses have started to recover

External Revenues Growth YoY

[in EUR m]

-2% +18%

+5% pro-forma +44% +58%

(6)

AGENDA

6

1. Key Messages 2. Financial Overview 3. Operational Review 4. Strategy & Outlook

(7)

Q2 2021 Q2 2020 YoY H1 2021 H1 2020 YoY

Group 1,048 709 +48% 1,986 1,634 +22%

Organic

964 668 +44% 1,817 1,548 +17%

Entertainment 736 476 +55% 1,346 1,139 +18%

Organic

736 466 +58% 1,346 1,117 +21%

Dating 139 58 >+100% 280 117 >+100%

Organic

55 56 -2% 111 113 -2%

Pro-forma

139 132 +5% 280 236 +19%

Commerce &

Ventures 172 176 -2% 360 378 -5%

Organic

172 147 +18% 360 318 +13%

STRONG GROUP REVENUE GROWTH DRIVEN BY RECOVERY OF ADVERTISING BUSINESS IN Q2 2021

Note: Organic = adjusted for portfolio and currency effects; Pro-forma = on the basis of the segment’s revenues adjusted for portfolio and currency effects, the revenues of The Meet Group and its revenues

adjusted for currency effects in the previous-year quarter / half-year are included here 7

EXTERNAL REVENUES: GROUP & SEGMENTS

[in EUR m]

Comments

• Strong recovery of Group revenues, highest second-quarter revenues in Group history.

• Entertainment segment revenue performance reflects recovery of advertising business following COVID-19 impacted quarter the year before. DACH advertising revenues grew +57% in Q2.

• Content business more than doubles its revenues in Q2 2021 with biggest contributions from Production business.

• Continuing growth of Distribution business mainly due to positive HD subscriber development.

• Dating segment benefits from first-time consolidation of The Meet Group. Strong pro-forma revenue growth in H1 2021.

• Commerce & Ventures segment grows strongly by +18% organically in Q2 2021, reported revenues reflect deconsolidation of WindStar Medical.

(8)

Q2 2021 Q2 2020 YoY H1 2021 H1 2020 YoY

Group 166 23 >+100% 308 180 +71%

Entertainment 142 3 >+100% 239 145 +65%

Dating 28 16 +81% 61 31 +95%

Commerce &

Ventures 2 9 -71% 19 15 +31%

Reconciliation

(Holding & other) -7 -3 >+100% -11 -11 -1%

ADJUSTED EBITDA INCREASED MORE THAN SEVENFOLD IN Q2 2021

8

ADJUSTED EBITDA: GROUP & SEGMENTS

[in EUR m]

Comments

• Group adjusted EBITDA increases more than sevenfold to EUR 166m.

• Profitability of Entertainment segment strongly benefits from recovery of advertising business. However, adjusted EBITDA drop-through also reflects increased program spend in both Q2 2021 and H1 2021 to further strengthen Entertainment business and reach of our content.

• Dating segment adjusted EBITDA increases meaningfully due to first-time consolidation of The Meet Group. On pro- forma basis, i.e. including The Meet Group in the prior year, segment profitability reflects slight change in business mix with higher contributions of The Meet Group.

• Commerce & Ventures segment reflects deconsolidation of WindStar Medical in Q2 2021 (EUR 5m) and H1 2021 (EUR 10m).

Segment adj. EBITDA margin improved by about 1%pt in H1 2021.

(9)

GROUP NET EARNINGS UP ALONG WITH OPERATING PROFITABILITY – POSITIVE IMPACT FROM ABOUT YOU

1) Attributable to shareholders of P7S1 9

EBITDA EBIT, NET INCOME, ADJ. NET INCOME, ADJ. OPERATING FCF

[in EUR m]

Q2 2021 Q2 2020 YoY H1 2021 H1 2020 YoY

EBITDA 151 21 >+100% 289 166 +74%

EBIT 83 -35 n/a 163 45 >+100%

Net income

¹⁾

123 -54 n/a 189 -17 n/a

Adjusted

net income

¹⁾

63 -52 n/a 100 7 >+100%

Adjusted

operating FCF 87 14 >+100% 169 33 >+100%

Comments

• Reported EBITDA also increases more than sevenfold – about in line with adjusted EBITDA.

• EBIT development meaningfully benefiting from Group adjusted EBITDA improvement and turning positive again after loss in Q2 2020.

• Reported Net Income increased strongly primarily due to better operating profitability as well as a gain of 60 million Euros, recognized in other financial result, resulting from the ABOUT YOU placement and the remeasurement of the remaining shares held by SevenVentures.

• Adjusted Net Income and Adjusted Operating FCF also strongly up along with better operating profits.

(10)

WE ARE ON TRACK TO REACH OUR FINANCIAL LEVERAGE TARGET

1) Financial leverage: net debt/LTM adjusted EBITDA; Note: IFRS net debt as per P7S1 definition (i.e., excluding lease liabilities and real estate liabilities); 2) includes deductions of

finance costs/disagio according to IFRS 10

Debt profile [in EUR m] 06/21 12/20 06/20 Maturity

Senior Notes n/a 600 600 Jan-21

Term Loan 151 151 151 Apr-23

RCF (74m of 750m) 35 Apr-23

Promissory Loans 275 275 275 Dec-23

Term Loan 1,949 1,949 1,949 Apr-24

RCF (676m of 750m) 315 Apr-24

Promissory Loans 225 225 225 Dec-26

Other loans and borrowings²⁾ (6) (8) (8) Misc.

Total gross debt 2,594 3,192 3,542

Cash and cash equivalents (438) (1,224) (1,190)

Total net debt 2,156 1,968 2,353

2,353

1,968

2,156

06/30/2020 12/31/2020 06/30/2021

•

Strong cash generation in past twelve months leads to net financial debt reduction by EUR 197m to EUR 2,156m at the end of Q2 2021 vs. Q2 2020 despite dividend pay-out of EUR 111m in June 2021

•

Meaningful improvement of leverage factor with a reduction to 2.6x at the end of Q2 2021 compared to factor 3.6x at the end of Q2 2020

•

Significant reduction of gross debt due to repayment of EUR 600m senior notes in January 2021

NET FINANCIAL DEBT

[in EUR m]

3.6x¹⁾

2.8x¹⁾ 2.6x¹⁾ -197

(11)

AGENDA

11

1. Key Messages 2. Financial Overview 3. Operational Review 4. Strategy & Outlook

(12)

ENTERTAINMENT | TV ADVERTISING MARKET RAPIDLY RECOVERING FROM THE PANDEMIC

Cinema Print TV

Online

0.1 Radio

OOH

7.4

2.1

3.9

1.0

0.8

H1 2021 spend in EUR bn

1%

6%

-6%

10%

-4%

-100%

16%

27%

6%

25%

16%

-95%

NIELSEN GROSS ADVERTISING REVENUES BY MEDIUM, GERMANY

Source: The Nielsen Company

H1 2021 vs. PY Q2 2021 vs. PY

(13)

ENTERTAINMENT | SIGNIFICANT IMPROVEMENT IN MOST GERMAN TV ADVERTISING INDUSTRIES

13 1) Based on TV gross ad spend, excl. media and other advertising, Source: The Nielsen Company

TOP 15 TV ADVERTISING INDUSTRIES, YOY CHANGE IN GROSS AD SPEND

¹⁾

H1 2021 spend in EUR bn Q2 2021 vs. PY H1 2021 vs. PY

Beverages

0.1 Health Care + Pharma

Cosmetics + Toiletries

Telecommunications Food

Finance Services Retail + Mail-Order

0.3 Automotive

Home + Garden Cleaning

0.3

Textiles + Clothing Computer + Office Gastronomy

0.1 Personal Accessories

0.1

1.0 0.9

0.3

0.9 0.6 0.5 0.4 0.3

0.3 0.2

26%

67%

-8%

64%

54%

50%

189%

84%

36%

-3%

0%

4%

58%

90%

30%

42%

22%

18%

33%

7%

-10%

30%

9%

35%

51%

22%

-17%

8%

4%

24%

(14)

ENTERTAINMENT | STRONG CATCH-UP EFFECT OF P7S1’S ADVERTISING REVENUES IN Q2 2021

ENTERTAINMENT DACH ADVERTISING REVENUES, CHANGE YOY IN %

¹⁾

• Strong improvement of Entertainment advertising revenues in Q2(+55% worldwide) which more than compensated Q1 results (-14% worldwide)

• H1 2021 Entertainment advertising revenues up by +14% (worldwide)

• Positive trend continues in July, mainly driven byfood, pharma and service industries

1) DACH = Germany, Austria, Switzerland; excluding SevenVentures and Seven Growth advertising revenues

0%

+80%

-60%

+60%

-40%

-20%

+20%

+40%

+57%

-5%

Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 -37%

-6%

+3%

-16%

14

(15)

ENTERTAINMENT | PROSIEBENSAT.1 IS LEADING THE GERMAN TV MARKET

1) Based on TV gross ad spend, cl. media and other advertising, Source: The Nielsen Company; 2) Basis: Mo- So, 20:15-23:00h, A 14-49; Source: AGF in cooperation with GfK/videoscope/market standard TV/P7S1; RTL Mediengruppe since June 2016 incl. RTLplus and without RTL 2 minority

in

15

AUDIENCE SHARE A 14-49, LTM Q2 2021

²⁾

NIELSEN GROSS ADVERTISING

REVENUE SHARE, LTM Q2 2021

¹⁾

ProSiebenSat.1 Group: 37.6% ProSiebenSat.1 Group: 26.2%

10.1%

7.7%

4.1%

23.8%

9.9%

9.0%

6.1%

5.0%

19.9%

Other

RTL 2 4.3%

RTL Group ARD

ZDF ARD III 37.6%

34.2%

6.5%

6.3%

7.8%

El Cartel

Seven.One Media Other

Ad Alliance Discovery 4.1%

ARD/ZDF Sky

3.5%

(16)

1) SAT.1 and ProSieben Prime Time; 2) CFlight ® NBC Universal Media, LLC

ENTERTAINMENT | CONTINUING CONSISTENT LOCAL CONTENT STRATEGY TO MAINTAIN LONG-TERM REACH

MAIN ACHIEVEMENTS IN Q2 2021

• Sale of new advertising Total Video based on CFlight²⁾started in July with strong interest from agencies and clients

• d-force, the joint venture of RTL and P7S1 for addressable TV, now provides for the first time a solution for programmaticaddressable TV spot in the German- speaking advertising market

Advertising

We further invest in attractive and relevant content to strengthen our reach across all platforms:

• Focus on live content e.g., German First and Second soccer league Bundesliga, Formula E, U21 EURO, Schlag den Star

• Successful lighthouse shows e.g., most successful Germany’s Next Topmodel By Heidi Klum season in 12 years, Stealing the Show

• Expansion of Factual & Public Value content e.g., Jenke.Crime

• Share of local content hours already increased by +16% in Q2 2021 vs. PY¹⁾ Outlook: Further increase of local slots in channel grids e.g., switch to local in Monday Prime Time on ProSieben (Zervakis & Opdenhövel. Live.)

Local & live content

Distribution ^• Focus on unique local and live content pays off with Distribution revenues growing at 9% in Q2 2021 vs. PY

16

(17)

17

ENTERTAINMENT | TV IS GETTING MORE DIGITAL – UNIQUE COMBINATION OF PROPRIETARY INVENTORY, TECH & DATA

Data offensive: Increasing focus on data collection and measurement – new socio-demographic targeting based on waterfall model

• All TV devices

• Linear TV ads Linear TV

TV devices

61m

¹⁾

Convergent video

• Total Video – based on CFlight⁴⁾

• Cross-device, bookable across marketers via d- force

Convergent video advertising products across TV and Digital

1) Basis: Total TV sets in Germany, Source: Digitalisierungsbericht Medienanstalten/Kantar 2020; 2) Basis: Connected TVs with HbbTV and P7S1 linear TV usage; Source: P7S1 tracking and own calculation 2021; 3) Basis: A 16+, Ø Q1 2021, TV websites (incl. ran & Galileo) and JOYN; Source: AGOF Daily Digital Facts/P7S1; no AGOF data available since 12.04.;

4) CFlight ® NBC Universal Media, LLC

Digital video

• TV websites & apps

• Joyn

• Digital video ads and subscription

• First party data &

7Pass

Unique Users

11m

³⁾

Addressable TV / VoD

• Based on tech standard HbbTV

• Addressable TV ads

• Efficient targeting options

TV devices

12m

²⁾

CONVERGENT LINEAR AND DIGITAL INVENTORIES

HbbTV

(18)

DATING | SUCCESSFUL VPAAS COMMERCIALIZATION TO SUPPORT FUTURE SEGMENT DEVELOPMENT

18

453 553

Q2 20 Q2 21

LTM Revenues +22%

(pro-forma) [in EUR m]

Technology Continued investments in software

improvements

& new features

Moderation 500+ human moderators combined with sophisticated AI

Audience 1.2 m

broadcasters and 8.9 m viewers per month Talent

Management 30-person team to recruit emerging talents Formats

Constantly developing new formats to engage the audience

Monetization Gifting to streamers based on in-app coin purchases

VIDEO-PLATFORM-AS-A-SERVICE (VPAAS) RAISES GROWING INTEREST

vPaaS used or in development by eight

brands, including:

DATING SEGMENT RESULTS ON TRACK

98 124

Q2 20 Q2 21 +27%

LTM adjusted

EBITDA (pro-forma) [in EUR m]

Note: Dating segment LTM revenues (pro-forma) including pro-forma figures for The Meet Group for the periods prior to first-time consolidation (September 2020) translated at the exchange rates used in the corresponding ProSiebenSat.1 Groups financial statements

(19)

19

COMMERCE & VENTURES | STRONG RECOVERY DRIVEN BY REBOUND OF CORONA-IMPACTED BUSINESSES

COMMERCE & VENTURES ORGANIC REVENUES, CHANGE YOY IN %

¹⁾

• Improved double-digit % organic revenue growth of Commerce & Ventures in Q2 2021 which is strongly driven by rebound of Corona-impacted companies

regaining positive momentum, for example:

• SilverTours with +68% rental car booking²⁾ increase vs. Q2 2020

• Advertising business with +42%revenue growth vs. Q2 2020 -10%

0%

+10%

+20%

Q3 2020 Q4 2020 Q2 2020

Q1 2020

+18%

Q1 2021 Q2 2021 +7%

-5%

-1%

+9% +10%

Note: Organic = adjusted for portfolio and currency effects;

1) Q1-Q4 2020 change YOY on the basis of unaudited segment figures for comparison quarters 2019 due to new segment structure since 01/01/2021; 2) Before cancelation

(20)

COMMERCE & VENTURES | FOUR SUCCESSFUL INVESTMENTS IN Q2 2021

STRATEGIC GROWTH EARLY & GROWTH

SEED & EARLY STAGE

M4E and M4R Follow-on deal with leading

provider of children’s smart watches

follow-on

Follow-on M4E deal with leading marketplace for smart home products

M4E deal with UK-based addressing technology company what3words that provides a simple and precise way to communicate location

Cash and M4E deal with leading European sports and wellbeing platform

• SevenVentures as first external investor of ABOU YOU in 2016, supporting topline growth and brand awareness as part of a large Media-for-Equityinvestment over 5 years

• Shareholding: ~3%¹⁾pre IPO, currently ~1.4% post execution of over-allotment option

2021: SUCCESSFUL ABOUT YOU IPO UNDERPINS VALUE OF M4E MODEL

follow-on new deal

new deal

20 1) Stake of SevenVentures prior to the ABOUT YOU IPO and capital increase

(21)

AGENDA

21

1. Key Messages 2. Financial Overview 3. Operational Review 4. Strategy & Outlook

(22)

STRATEGY | GROUP PROFILE INCREASINGLY DETERMINED BY STRUCTURALLY GROWING BUSINESSES - DEPENDENCY ON TV AD BUSINESS REDUCED FURTHER

22

• Operates leading Entertainment platforms in linear and digital by leveraging synergies with own production and distribution house

• TV channels and online platforms generate advertisingas well as subscription revenues

• Platform-independent approach to match changing consumer preferences and achieve long-term revenue and earnings growth

ENTERTAINMENT

• Focuses on investments in digital companies in consumer-oriented markets; from early stage to more mature

• Concentrates on investments that have strong synergies with the Entertainment business

• Online assets that provide long- term structural growth potential

• Leading mobile-first global player in the dating business

• Focuses on building an ecosystem across social entertainment, online dating and matchmaking

• Leverages synergies within Dating and with Entertainment (cross-selling between brands, technologies and platform scaling, data

synergies, etc.)

DATING COMMERCE & VENTURES

21%

11%

23%

ENTERTAINMENT COMMERCE &

VENTURES DATING Group revenues, Group revenue split

LTM Q2 2021, in %

PROSIEBENSAT.1 GROUP

EUR 4,399m

(LTM Q2 2021)

21%

11%

45%

23%

Distribution, Content and Other

Advertising DACH

(23)

STRATEGY| REVENUES AND ADJ. EBITDA OF DATING AND COMMERCE & VENTURES BUSINESS HAD STEADILY INCREASED – ENTERTAINMENT WITH CATCH-UP POTENTIAL

Note: FY 2019 split on the basis of unaudited segment figures due to new segment structure since 01/01/2021; 1) Includes revenues of WindStar Medical of EUR 109m (FY 2019), EUR 114m (FY

2020) and EUR 54m (LTM Q2 2021); 2) Includes adjusted EBITDA of WindStar Medical of EUR 17m (FY 2019), EUR 18m (FY 2020) and EUR 8m (LTM Q2 2021) 23

333 497

910¹⁾

3,016 209

945¹⁾

FY 2019

2,768

FY 2020

2,975 927¹⁾

LTM Q2 2021

4,135 4,047

4,399

44

80

110

-62

FY 2020 116²⁾

774

FY 2019

561 84²⁾

-19

655 88²⁾

-19 LTM Q2 2021 872

706

834

GROUP AND SEGMENT ADJUSTED EBITDA IN EUR M GROUP AND SEGMENT REVENUES IN EUR M

Entertainment

Commerce & Ventures Dating

Reconciliation

•

LTM Q2 2021 adjusted EBITDA of Entertainment segment reflects different mix compared to FY 2019 as well as negative impact of COVID-19 related decline of advertising revenue in Q1 2021

•

Adj. EBITDA of Dating and Commerce & Ventures combined has increased by EUR 38m vs. FY 2019

•

LTM Q2 2021 Entertainment revenues already close to FY 2019 level.

However, DACH advertising revenues still >EUR 100m below FY 2019 which has largely been compensated by Content and Studio71 business

•

CAGR vs. FY 2019 supported by increasing share of Dating revenues CAGR: +18%

CAGR: +4%

(24)

FINANCIAL OUTLOOK | WE HAVE INCREASED OUR FINANCIAL TARGETS FOR FY 2021

24

FY 2020 FY 2021 target Comment

Group revenues EUR 4,047m EUR 4,400 – 4,500m

(Previous target: EUR 4,250 - 4,450m)

•

Target takes DACH advertising revenue development in the range of +3% (previously: -2%) to +7% (previously: +4%) in 2021 into account

•

Portfolio- and currency-adjusted revenue growth in the range of +9% (previously: +5%) to +11% (previously: +10%)

•

Previous-year figure of EUR 4,055m (adjusted for currency and portfolio effects)¹⁾

Adjusted EBITDA EUR 706m ~EUR 820m (+/- EUR 20m) (Previous target: EUR 750 - 800m)

•

Previous-year figure of EUR 708m (adjusted for currency and portfolio effects)²⁾

Adjusted

Operating FCF EUR 424m

At least mid-double-digit million Euro increase vs. previous year (Previous target: mid-double-digit million

Euro range around previous year figure)

•

Corrected for the change of investments in relation to the

construction of the new campus at the premises in Unterföhring

P7S1 ROCE³⁾ 10% >10%

•

Mid-term target for ProSiebenSat.1 ROCE of ≥15% - to be achieved through strict application of investment policies

Financial leverage⁴⁾ 2.8x ≤2.5x

(Previous target: slightly above or at upper end of target range)

•

General financial leverage target range of 1.5 – 2.5x

•

Subject to business performance and excluding portfolio changes, previous target at or above upper end

Dividend EUR 111m 50% of adjusted net income

•

General dividend policy

1) Based on revenues in financial year 2020 translated at the exchange rates used for planning purposes in financial year 2021 (EUR/USD exchange rate of around USD 1.22) less revenues of the companies deconsolidated in 2020 – WindStar Medical at EUR 114 million and myLoc at EUR 10 million – plus pro-forma revenues for The Meet Group between January and August 2020 of EUR 173 million, also translated at the exchange rate used for planning purposes in financial year 2021 (EUR/USD exchange rate of around USD 1.22); 2) Based on adjusted EBITDA in financial year 2020 translated at the exchange rates used for planning purposes in financial year 2021 (EUR/USD exchange rate of around USD 1.22) less adjusted EBITDA of the companies deconsolidated in 2020 – WindStar Medical at EUR 23 million and myLoc at EUR 3 million – plus the pro-forma adjusted EBITDA contributions for The Meet Group between January and August 2020 of EUR 33 million, also translated at the exchange rate used for planning purposes in financial year 2021 (EUR/USD exchange rate of around USD 1.22); 3) Please see definition of P7S1 ROCE in our annual report 2020 on pages 81, 98; 4) Financial leverage: net debt/LTM adj. EBITDA; Note: IFRS net debt as per P7S1 definition (i.e. excluding lease liabilities and real estate liabilities)

(25)

25

SUMMARY | PROSIEBENSAT.1 WILL CONTINUE TO FOLLOW ITS PATH TOWARDS PROFITABLE GROWTH

All segments are set for further expansion and realization of meaningful synergies, particularly resulting from advertising support of portfolio assets. Diversified Group revenue and earnings profile secures resilience of the business during pandemic.

Focus remains on improvement of operating profitability and cash generation, reduction of net financial debt and increase of ROCE to above 15%. This

combination will create significant value for all stakeholders and will support us in our development to a digital group.

ProSiebenSat.1 has a unique business model andis much more than a pure media company by combining Entertainment, Dating and Commerce assets that together deliver above-average growth.

(26)

Appendix

(27)

GROUP P&L

1) Attributable to shareholders of P7S1

Note: Net financial debt as of 06/30/2021 respectively as of 06/30/2020 27

[in EUR m]

Q2 2021 Q2 2020 YoY H1 2021 H1 2020 YoY

Revenues 1,048 709 +48% 1,986 1,634 +22%

Adjusted EBITDA 166 23 >+100% 308 180 +71%

Reconciling items -15 -2 >+100% -19 -14 +41%

EBITDA 151 21 >+100% 289 166 +74%

Depreciation, amortization and

impairments -68 -57 +19% -126 -121 +4%

Thereof PPA -14 -11 +25% -28 -27 +5%

Operating result (EBIT) 83 -35 n/a 163 45 >+100%

Financial result 54 -33 n/a 46 -70 n/a

Thereof interest result -14 -17 -18% -23 -32 -30%

Thereof "at equity" result -10 -15 -36% -23 -28 -19%

Result before income taxes (EBT) 137 -68 n/a 209 -26 n/a

Net income

¹⁾

123 -54 n/a 189 -17 n/a

Adjusted net income

¹⁾

63 -52 n/a 100 7 >+100%

Net financial debt 2,156 2,353 -8%

(28)

ENTERTAINMENT BUSINESS HAS BENEFITED GREATLY FROM RECOVERY IN THE ADVERTISING MARKET

Note: Organic = adjusted for portfolio and currency effects 28

EXTERNAL REVENUES AND ADJUSTED EBITDA

[in EUR m]

Q2 2021 Q2 2020 YoY H1 2021 H1 2020 YoY

External Revenues

736 476 +55% 1,346 1,139 +18%

Organic

736 466 +58% 1,346 1,117 +21%

Advertising

542 350 +55% 983 860 +14%

DACH

483 308 +57% 874 773 +13%

Rest of World

59 42 +41% 108 87 +24%

Distribution

46 42 +9% 90 83 +9%

Content

124 60 >+100% 227 145 +56%

Other

24 24 +2% 47 51 -9%

Adjusted EBITDA

142 3 >+100% 239 145 +65%

Comments

• Advertising business both in DACH region as well as globally benefited from significant recovery following pronounced decline in COVID-19-impacted Q2 2020.

• Distribution business continued its steady revenue growth particularly driven by further increase in HD subscribers.

• Revenues of Content business also increased dynamically as Production business normalizes post lockdown in key markets U.S., U.K. and Germany.

• Other Entertainment revenues mirror deconsolidation of myLoc – underlying revenue development positive.

(29)

DATING SEGMENT BENEFITS FROM FIRST-TIME

CONSOLIDATION OF TMG AND ITS LIVE VIDEO BUSINESS

Note: Organic = adjusted for portfolio and currency effects; Pro-forma = on the basis of the segment’s revenues adjusted for portfolio and currency effects, the revenues of The Meet Group and its revenues

adjusted for currency effects in the previous-year quarter / half-year are included here 29

EXTERNAL REVENUES AND ADJUSTED EBITDA

[in EUR m]

Q2 2021 Q2 2020 YoY H1 2021 H1 2020 YoY

External Revenues 139 58 >+100% 280 117 >+100%

Organic

55 56 -2% 111 113 -2%

Pro-forma

139 132 +5% 280 236 +19%

Adjusted EBITDA 28 16 +81% 61 31 +95%

Comments

• Dating segment revenues primarily increase due to first-time consolidation effect resulting from The Meet Group acquisition.

• Matchmaking revenues developed about stable reflecting somewhat tougher comparable figures at beginning of COVID-19 pandemic. At the same time, long lockdown had a negative impact on matchmaking business in Q2 2021 and H1 2021.

• Weaker U.S. dollar burdened reported revenues resulting from Dating business in the United States (about 65% of segment revenues in H1 2021).

• Pro-forma currency-adjusted revenue growth, i.e. including contributions from The Meet Group in prior year, amounted to +19% in H1.

(30)

Q2 2021 Q2 2020 YoY H1 2021 H1 2020 YoY

External Revenues 172 176 -2% 360 378 -5%

Organic

172 147 +18% 360 318 +13%

Advertising 34 24 +42% 65 56 +15%

NuCom Group 138 151 -8% 294 320 -8%

Consumer Advice 41 36 +15% 92 97 -6%

Experiences 9 10 -12% 20 25 -20%

Beauty & Lifestyle 88 105 -16% 182 198 -8%

Other 1 1 -34% 1 2 -24%

Adjusted EBITDA 2 9 -71% 19 15 +31%

COMMERCE & VENTURES SEGMENT WITH STRONG ORGANIC GROWTH OF +18% IN Q2

Note: Organic = adjusted for portfolio and currency effects 30

EXTERNAL REVENUES AND ADJUSTED EBITDA

[in EUR m]

Comments

• Commerce & Ventures segment delivered stable revenue performance in Q2 2021.

This takes into account deconsolidation of WindStar Medical (EUR 29m). On a portfolio and currency adjusted basis segment revenues improved strongly by +18%. In H1 2021, revenues reflect EUR 61m deconsolidation effect of WindStar Medical.

• Double-digit % revenue growth of advertising business supported by recovery of SevenVentures business and continuing growth of marktguru and wetter.com.

• Consumer Advice has partly recovered from meaningfully impacted business in prior year due to COVID-19 pandemic (especially billiger-mietwagen.de).

• Beauty & Lifestyle vertical again growing strongly on like-for-like basis. However, growth of Flaconi somewhat lower due to strong comparable figures in Q2 2021.

(31)

GROUP AND SEGMENT REVENUE BREAKDOWN Q2 2021 VS. Q2 2020

1) DACH = German-speaking region (Germany, Austria, Switzerland) 31

Entertainment Dating Commerce & Ventures Total Group Q2 2021 Q2 2020 Q2 2021 Q2 2020 Q2 2021 Q2 2020 Q2 2021 Q2 2020

Advertising 542 350 34 24 576 374

DACH¹⁾ 483 308 34 24 517 332

Rest of the World 59 42 59 42

Distribution 46 42 46 42

Content 124 60 124 60

Europe 43 28 43 28

Matchmaking & Social Entertainment 139 58 139 58

Digital Platform & Commerce 138 151 138 151

Consumer Advice 41 36 41 36

Experiences 9 10 9 10

Beauty & Lifestyle 88 105 88 105

Other 24 24 1 1 25 25

Total 736 476 139 58 172 176 1,048 709

EXTERNAL REVENUES

[in EUR m]

(32)

GROUP AND SEGMENT REVENUE BREAKDOWN H1 2021 VS. H1 2020

1) DACH = German-speaking region (Germany, Austria, Switzerland) 32

Entertainment Dating Commerce & Ventures Total Group H1 2021 H1 2020 H1 2021 H1 2020 H1 2021 H1 2020 H1 2021 H1 2020

Advertising 983 860 65 56 1,047 916

DACH¹⁾ 874 773 65 56 939 829

Distribution 90 83 90 83

Content 227 145 227 145

Europe 78 62 78 62

Matchmaking & Social Entertainment 280 117 280 117

Digital Platform & Commerce 294 320 294 320

Consumer Advice 92 97 92 97

Experiences 20 25 20 25

Beauty & Lifestyle 182 198 182 198

Other 47 51 1 2 48 53

Total 1,346 1,139 280 117 360 378 1,986 1,634

EXTERNAL REVENUES

[in EUR m]

(33)

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.

DISCLAIMER

33

(34)