q3 2021 results presentation

(1)

q3 2021

results presentation

November 4, 2021

(2)

AGENDA

2

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

(3)

PROSIEBENSAT.1 AGAIN RAISES FULL-YEAR OUTLOOK 2021 AFTER STRONG THIRD QUARTER

Entertainment segment with significant revenue and earnings growth:Q3 2021 segment revenues grew +15% to EUR 728m along with DACH advertising revenue growth of +21%. Segment adjusted EBITDA increased +11% to EUR 128m. Record third quarter DACH advertising revenues.

Dynamic Group revenue growth of +15% to EUR 1,055mand further increase of adjusted EBITDA by +9% to EUR 162min Q3 2021. Record third quarter revenues in Group history.

Strong financial performance and delivering on our objectives –Q3 2021 adjusted operating FCF and P7S1 ROCE increased to EUR 134m and 13.6%,respectively.

Financial leverage reduced to 2.5x, whilst extending debt maturity profile.

ProSiebenSat.1 again raises its full-year financial targets based on another quarter ofstrong performance in the advertising business.

Dating segment benefiting from first-time consolidation of The Meet Group.

Commerce & Venturesdelivered another quarter of strong organic revenue growth of +15% with contributions of all verticals.

3

(4)

HIGHEST THIRD QUARTER REVENUES IN GROUP HISTORY – REVENUES INCREASED BY EUR 134M COMPARED TO PRIOR YEAR

Note: Organic = adjusted for portfolio and currency effects 4

Entertainment Dating Commerce & Ventures Group

External Revenues [in EUR m]

Organic Growth YoY [in EUR m]

+15% +15% +53% -3%

•

Continued dynamic Group revenue growth

•

Highest amount

of third quarter revenues in Group history

•

Strong DACH advertising revenue growth of 21% vs.

Q3 2020

•

DACH ad revenues with +13% above Q3 2019 level

•

Strong reported revenue growth due to first-time consolidation of TMG

•

Almost stable

organic performance

•

Continued strong organic revenue growth driven by all verticals

•

Recovery of COVID-19 impacted businesses External Revenues

Growth YoY [in EUR m]

+15%

+15% +17%

921

633

84 204

1,055

728

129 198

Group revenuesQ3 2021 Q3 2020EntertainmentQ3 2021 Q3 2020DatingQ3 2021 Commerce & Ventures

Q3 2020 Q3 2020 Q3 2021

-2%

(5)

AGENDA

5

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

(6)

ENTERTAINMENT | SIGNIFICANT IMPROVEMENT IN MOST GERMAN TV ADVERTISING INDUSTRIES

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⁾

9M 2021 spend in EUR bn Q3 2021 vs. PY 9M 2021 vs. PY

0.4 Health Care + Pharma

Retail + Mail-Order

Finance Automotive Beverages Cosmetics + Toiletries Food

Telecommunications Services

0.9

Home + Garden Cleaning Textiles + Clothing Computer + Office Personal Accessories Construction Industry

1.6 1.4 1.4

0.8 0.6 0.6 0.6 0.5 0.5

0.3 0.2 0.1

0.1 105%

34%

28%

25%

11%

31%

28%

20%

103%

-20%

37%

26%

5%

58%

56%

33%

24%

12%

-4%

29%

11%

35%

38%

-3%

40%

26%

7%

11%

53%

38%

6

(7)

ENTERTAINMENT | SUSTAINED RECOVERY DRIVES

DOUBLE-DIGIT PERCENT DACH AD REVENUE GROWTH

ENTERTAINMENT DACH

¹⁾

ADVERTISING REPORTED REVENUES

²⁾

, IN EUR M

423 398

Q3 2020

Q3 2019 Q3 2021

479 1,401 1,353

9M 2019

1,170

9M 2020 9M 2021

1) DACH: Germany, Austria, Switzerland; 2) Excluding SevenVentures and SevenGrowth advertising revenues,

segment figures for 2019 on the basis of unaudited figures due to new segment structure since 01/01/2021 7

+21%

+13%

-3% +16%

• Q3 2021 DACH advertising revenues both above Q3 2020 and Q3 2019

• Despite COVID-impacted Q1 2021, development in 9M 2021 strongly supports our new Group DACH advertising target for FY 2021

• Biggest growth drivers have been Food, Finance and Health Care & Pharma

in Q3 2021

(8)

ENTERTAINMENT | PROSIEBENSAT.1 IS THE LEADING PLAYER IN 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; Ad Alliance without RTL 2 minority

in

AUDIENCE SHARE A 14-49, LTM Q3 2021

²⁾

NIELSEN GROSS ADVERTISING

REVENUE SHARE, LTM Q3 2021

¹⁾

ProSiebenSat.1 Group: 37.7% ProSiebenSat.1 Group: 25.6%

9.8%

7.5%

4.1%

23.5%

10.5%

9.5%

6.0%

4.9%

19.9%

4.2%

ARD III

ARD

Ad Alliance ZDF

Other

RTL 2 37.7%

34.4%

6.5%

ARD/ZDF

Seven.One Media

3.3%

Ad Alliance Visoon

El Cartel

Sky Other 6.2%

Discovery

8

4.0%

3.5%

4.4%

(9)

1) DACH: Germany, Austria, Switzerland; 2) CFlight ® NBC Universal Media, LLC

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

MAIN ACHIEVEMENTS IN Q3 2021

• First major “Total Video based on CFlight²⁾” advertising campaign launched with OBI (further leads in pipeline)

Advertising

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

• Focus on live content e.g., German First & Second soccer league Bundesliga, DFL Supercup, Formula E, NFL, Schlag den Star

• Expansion of Factual & Public Value content e.g., TV Triell on SAT.1, ProSieben and Kabel Eins

Outlook: Exclusive multi-year first look deal with Talpa Concepts (John de Mol) signed, ProSiebenSat.1 as exclusive production partner in DACH¹⁾for future Talpa productions

Local & live content

Distribution

• Participate in increasing IPTV/OTT market with new Deutsche Telekom deal for new MagentaTV portfolio (including UHD and Addressable TV)

• Extend and push reach by achieving full coverage with all major

distribution partners and on strong growing digital platforms (e.g., Sky OTT Germany, HD+ OTT, Roku)

• Continuous growth in HD FTA subscribers reaching 11 million households and in overall distribution revenues growing by +7% in Sep YTD 2021

9

(10)

ENTERTAINMENT | STRONG BUNDESLIGA

PERFORMANCE AND MONETIZATION ECOSYSTEM

FREE TV

Opening game of first league with 27.7% market share and DFL Supercup with 22.7%¹⁾

TV EXTENSIONS

Weekend TV show on P7MAXX, Bundesliga Flash on S1, P7, P7MAXX and K1

PODCAST

Weekly podcast with Toni & Felix Kroos

produced by Starwatch

LIVE STREAMS

Live streams on Joyn and on ran and SAT.1 apps and websites

DIGITAL EXTENSIONS

Content hubs on sports

publisher platforms SPOX, Goal and LigaInsider

SOCIAL MEDIA

Live vertical broadcast of DFL Supercup on TikTok ran channel

1) Basis: Mo-So, 3-3h, A 14-49; Source: AGF in cooperation with GfK/videoscope/Marktstandard TV/P7S1

DIGITAL

Weekly web show on ran.de, YouTube and Facebook LIVE

SALES

Five

top customers acquired; new ad formats established

BUNDESLIGA SEASON 2021/2022

10

(11)

DATING | DATING REVENUES SIGNIFICANTLY BENEFITING FROM FIRST-TIME CONSOLIDATION OF THE MEET GROUP

• 3 additional vPaaS brand launches in Q3 2021, with 5 further launches planned for Q4 2021

• eharmony continues to grow in the US and internationally, and will be the largest brand in our matchmaking portfolio in 2021

DATING REPORTED REVENUES

¹⁾

, IN EUR M

52 84 129

Q3 2021 Q3 2019 Q3 2020

156 201

409 9M 2019 9M 2020 9M 2021

11 1) Segment figures for 2019 on the basis of unaudited figures due to new segment structure since 01/01/2021

+53%

>+100%

(12)

COMMERCE & VENTURES | SOLID UNDERLYING SEGMENT REVENUE PERFORMANCE ALSO IN Q3 2021

• Ongoing rebound of Corona-impacted companies compared to previous year, most notably:

• JSMD with stronger voucher sales business of +13% yoy vs. Q3 2020

• SilverTours with >+50% revenue yoy vs. Q3 2020

Note: Organic = adjusted for portfolio and currency effects

1) Segment figures for 2019 on the basis of unaudited figures due to new segment structure since 01/01/2021;

2) 9M 2019 including pro-forma figures for Aroundhome prior to first-time consolidation in March 2019 and for Regiondo prior to first-time consolidation in June 2019 (overall c. EUR 13m)

COMMERCE & VENTURES ORGANIC REVENUES

¹⁾

, IN EUR M

179 172 198

Q3 2019 Q3 2020 Q3 2021

500 490 558

9M 2021 9M 2020

9M 2019

12 2)

+10%

+15%

+14%

+11%

(13)

COMMERCE & VENTURES | SUCCESSFUL CLOSING OF FOUR INVESTMENTS IN Q3 2021

STRATEGIC GROWTH EARLY & GROWTH

SEED & EARLY STAGE

follow-on new deal

Launched motivational 360° campaign with new TV spot together with P7S1

new deal new deal

NUCOM GROUP SELLS AMORELIE TO EQOM GROUP

• P7S1 developed the profile and strength of the Amorelie brand via TV advertisingover the last 7 years

• P7S1 supported Amorelie with operational know-how in building up its own brandsas well as its presence in offline retail

• P7S1 no longer the best owner with regards to further internationalization M4E convertible with

shipment & logistics service platform in ecommerce

M4E convertiblewith qualitative pet food brand - modernized & rethought

M4E deal with leading European consumer tech

subscription platform

M4E deal with European marketplace for refurbished electronics

13 campaign

launch

(14)

AGENDA

14

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

(15)

Q3 2021 Q3 2020 YoY 9M 2021 9M2020 YoY

Group 1,055 921 +15% 3,041 2,555 +19%

Organic 1,006 875 +15% 2,823 2,429 +16%

Entertainment 728 633 +15% 2,075 1,772 +17%

Organic 728 621 +17% 2,075 1,743 +19%

Dating 129 84 +53% 409 201 >+100%

Organic 80 82 -2% 191 196 -2%

Commerce &

Ventures 198 204 -3% 558 582 -4%

Organic 198 172 +15% 558 490 +14%

DYNAMIC GROUP REVENUE GROWTH REFLECTING FAVORABLE DEVELOPMENT IN ENTERTAINMENT

EXTERNAL REVENUES: GROUP & SEGMENTS

[in EUR m]

Comments

• Dynamic revenue growth of +15% to EUR 1,055m in Q3 2021 mainly driven by continuing advertising recovery.

• Entertainment segment with strong organic revenue growth of +17% to EUR 728m in Q3 2021 reflecting strong growth of the advertising business. Entertainment DACH advertising revenues grew +21%

y-o-y and have been 13% above the pre- COVID-19 level in Q3 2019.

Content business again grew strongly with revenue growth of 20% in Q3 2021.

• Dating segment benefited from first-time consolidation of The Meet Group.

• Commerce & Ventures revenues almost on prior year’s level, showing that deconsolidation of WindStar Medical has almost been fully compensated. Strong organic revenue growth of +15% in Q3 2021.

(16)

Q3 2021 Q3 2020 YoY 9M 2021 9M 2020 YoY

Group 162 149 +9% 470 328 +43%

Entertainment 128 115 +11% 367 260 +41%

Dating 25 19 +32% 87 51 +71%

Commerce &

Ventures 14 19 -25% 33 34 -1%

Reconciliation

(Holding & other) -6 -4 +38% -17 -16 +10%

HIGH-MARGIN ADVERTISING BUSINESS DRIVES

ADJUSTED EBITDA INCREASE IN BOTH Q3 AND 9M 2021

16

ADJUSTED EBITDA: GROUP & SEGMENTS

[in EUR m]

Comments

• Group adjusted EBITDA increased by +9%

in Q3 2021. On a nine-month basis, it improved by +43% to EUR 470m, reflecting revenue growth in the high-margin advertising business in Q2 and Q3 2021.

• Adjusted EBITDA growth in Entertainment segment of +11% in Q3 2021. In the first nine months adjusted EBITDA improved by +41% primarily benefiting from dynamic development of the advertising business.

Segment profitability was partially offset by a 21% increase in programming spend to EUR 259m in Q3 2021 and a 9% increase to EUR 748m in 9M 2021.

• Dating segment also recorded an increase in adjusted EBITDA by EUR 6m to EUR 25m in Q3 2021 due to first-time consolidation of The Meet Group in September 2020.

• Stable adjusted EBITDA of EUR 33m in Commerce & Ventures segment in 9M 2021 despite deconsolidation of WindStar Medical (previous year: EUR 5m in Q3 2020 and EUR 15m in 9M 2020).

(17)

STRONG OPERATING PROFITS TRANSLATE INTO SUBSTANTIAL ADJUSTED NET INCOME INCREASE

1) Attributable to shareholders of P7S1 17

EARNINGS AND CASHFLOW KPIS

[in EUR m]

Q3 2021 Q3 2020 YoY 9M 2021 9M 2020 YoY

Adjusted EBITDA 162 149 +9% 470 328 +43%

EBITDA 156 174 -10% 445 340 +31%

EBIT 97 114 -15% 260 159 +64%

Net income

¹⁾

73 69 +6% 262 52 >+100%

Adjusted

net income

¹⁾

58 29 +98% 158 36 >+100%

Adjusted

operating FCF 134 34 >+100% 303 67 >+100%

Comments

• Adjusted EBITDA improvement also drives strong increase in adjusted net income by +98% in Q3 2021 and >+100% in 9M 2021, respectively.

• Reduction in reported EBITDA and EBIT reflects positive one-off effect in the previous year which resulted from the disposal of myLoc in the amount of EUR 35m in September 2020.

• Increase in reported net income in 9M 2021 especially due to increase in operating profits as well as valuation effects which have been recognized especially in H1 2021 (e.g. About You) and which have been adjusted accordingly.

• Significant adjusted operating FCF increase due to better Group adjusted EBITDA and cash conversion (programming cost increase to a large extent non-cash).

(18)

SIGNIFICANT REDUCTION OF NET AND GROSS DEBT BY EUR 377M AND EUR 950M RESPECTIVELY AS OF SEPTEMBER 30, 2021 VS. PRIOR YEAR

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 18

Debt profile [in EUR m] 09/21 12/20 09/20 Maturity

Senior Notes - 600 600 Jan-21

Term Loan 151 151 151 Apr-23

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

RCF 0 0 35 Apr-23

RCF 0 0 315 Apr-24

Promissory Loan 275 275 275 Dec-23

Promissory Loan 225 225 225 Dec-26

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

Total gross debt 2,594 3,192 3,544

Cash and cash equivalents (483) (1,224) (1,056)

Total net debt 2,111 1,968 2,488

2,488

1,968 2,111

09/30/2020 12/31/2020 09/30/2021 NET FINANCIAL DEBT

[in EUR m]

3.7x

¹⁾

2.8x

¹⁾

2.5x

¹⁾

•

Strong FCF and net inflows from M&A in past twelve months lead to net financial debt reduction by EUR 377m to EUR 2,111m at the end of Q3 2021 vs.

Q3 2020 despite dividend pay-out of EUR 111m in June 2021

•

Meaningful improvement of leverage factor with a reduction to 2.5x at the end of Q3 2021 compared to factor 3.7x at the end of Q3 2020

•

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

-377

(19)

Term Loans Promissory Loans 2016 Promissory Loans 2021

PROSIEBENSAT.1 USES PROCEEDS OF NEW EUR 700M PROMISSORY LOANS (SCHULDSCHEINDARLEHEN) FOR A EUR 900M PREPAYMENT OF TERM LOANS

1) Shown excluding RCF facilities (currently undrawn) totaling of EUR 74m (maturity date Apr 2023) and EUR 676m (maturity date Apr 2024) and other loans and borrowings 19

151 275

1,949

225 Apr-23 Dec-23 Apr-24 Dec-26

86 275

1,114

226 225 346

80 48

Apr-23 Dec-23 Apr-24 Oct-25 Dec-26 Oct-27 Oct-29 Oct-31 DEBT MATURITY PROFILE

PRE REFINANCING

¹⁾

[in EUR m]

DEBT MATURITY PROFILE POST REFINANCING

¹⁾

[in EUR m]

• ProSiebenSat.1 successfully placed promissory loans (Schuldscheindarlehen) in the amount of EUR 700m with tenors of four, six, eight and ten years in October 2021, thereby diversifying the Group's debt maturity profile

• Following this, the Group prepaid EUR 900m of its existing term loans (as permanent repayment) under its Senior Facilities Agreement on October 8, 2021, by primarily applying the full gross proceeds from the new EUR 700m promissory loans. The Group thereby reduced its term loans

permanently from EUR 2.1bn to now EUR 1.2bn. The remaining term loans predominantly mature in April 2024

(20)

AGENDA

20

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

(21)

FINANCIAL OUTLOOK | LAST TWELVE MONTHS FIGURES LAY FOUNDATION TO AGAIN INCREASE FULL-YEAR 2021 FINANCIAL TARGETS

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 22m (LTM Q3 2021); 2) Includes adjusted EBITDA of WindStar Medical of EUR 17m (FY 2019), EUR 18m (FY 2020) and EUR 3m (LTM Q3 2021) 21

333

541

2,768 3,016

4,047

209 910¹⁾

FY 2019

945¹⁾

FY 2020

3,071 921¹⁾

LTM Q3 2021 4,135

4,533

44

80

116

-62 774 116²⁾

FY 2019

561 84²⁾

LTM Q3 2021 -19

FY 2020

668 83²⁾

-21 872

706

847

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

Entertainment Dating

Commerce & Ventures Reconciliation

•

LTM Q3 2021 adjusted EBITDA of Entertainment segment reflecting different revenue mix compared to FY 2019 as well as negative impact of COVID-19-related lockdown on earnings in Q1 2021.

•

Adj. EBITDA of Dating and Commerce & Ventures combined has increased by EUR 39m vs. FY 2019

•

LTM Q3 2021 Entertainment revenues above pre-COVID 19 level of FY 2019 with DACH advertising revenues of EUR 2,056m only c. 1%

below FY 2019; Content, Distribution and intl. Studio71 drove growth

•

CAGR vs. FY 2019 primarily reflecting increase of Dating revenues

CAGR:

+5%

CAGR:

+16%

(22)

FINANCIAL OUTLOOK | ON TRACK TO EXCEED MID-TERM ROCE TARGET AHEAD OF EXPECTATIONS DUE TO SUCCESSFUL STRATEGY IMPLEMENTATION

22

FY 2020 LTM Q3 2021 FY 2021 target Comment

Group

revenues EUR 4,047m EUR 4,533m EUR 4,500m (+/- EUR 50m) (Previous target: EUR 4,400 - 4,500m)

• Target takes DACH advertising revenue development in the range of +9% (previously: +3%) to +11% (previously: +7%) in 2021 into account

• Portfolio- and currency-adjusted revenue growth in the range of +10% (previously: +9%) to +12% (previously: +11%)

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

Adjusted

EBITDA EUR 706m EUR 847m ~EUR 840m (+/- EUR 10m)

(Previous target: EUR 820m (+/- EUR 20m))

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

Adjusted

Operating FCF EUR 424m EUR 660m

Improvement by at least EUR 100m vs. previous year

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

• Corrected for the change of investments in relation to the construction of the new campus at the premises in

Unterföhring

P7S1 ROCE³⁾ 10% 13.6% >13%

(Previous target: >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 <2.5x

(Previous target: ≤2.5x)

• 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 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)

(23)

SUMMARY | ACROSS ALL SEGMENTS, WE WILL CONTINUE TO FOCUS ON SUSTAINABLE GROWTH BY FOLLOWING SIX KEY PROJECT GUIDELINES

1) IRR can be lower for replacement projects 23

Our 6 criteria to promote sustainable growth

Return At least 18% IRR for growth and change projects

¹⁾

Payback Payback period of less than 3 years

For strategic projects, however, up to 5 years if they bring in high growth

Revenues to exceed EUR 50m after 3 years

CM1 to reach the mid-double digit percentage range after 3 years

EBITDA Forecasted EBITDA of EUR 15m at the end of the planning period

Synergies Projects must have a close connection to TV or should be a platform business to maximize synergy potential

Revenues CM1

Supporting our 15% P7S1 ROCE

group target

(24)

SUMMARY | PROSIEBENSAT.1 IS THE LEADING PLAYER IN THE TV MARKET, WHICH CONTINUES TO DOMINATE MEDIA CONSUMPTION

• In 2021, media usage in Germany has continued to grow, reaching 13 hours a day (including parallel usage)

• TV continues to dominate media usage, remaining stable since last year at 37% of daily media usage

• ProSiebenSat.1 is the leading player in the German TV market, and it expands its position in the growing Internet content market.

• ProSiebenSat.1 is set to capitalize on a growing total German advertising market that is expected to grow +11% in 2021 and +5% in 2022 (Magna Global

⁶⁾

)

AVERAGE DAILY MEDIA USAGE IN GERMANY, 2021

¹⁾

24 1) Base: 14-69 years, n=2,458; Source: Media Activity Guide 2021, forsa; AGF Videoforschung in cooperation with GfK; VIDEOSCOPE 1.4, market standard: TV, Q1/2021, own calculations;

2) own calculations; TV includes alternative usage; 3) Internet content: Online videos, online shopping, social media, reading articles/posts, blogs/forums, online navigation, e-learning, online banking; 4) Music: music streaming/CD/record/mp3; 5) Other: DVD/Blu-ray, podcast, audiobook, cinema; 6) Magna Global Advertising Forecast June 2021, Germany

TV

238 min.

37%

149 min.

Internet content

³⁾

23%

Radio

100 min.

16%

Books 25 min. ^4%

Print20 min. ^3%

Music⁴⁾

Games Other⁵⁾

46 min.

2%

45 min.

7%

COMMENTS

O u r co re m ed ia m ark et s

2)

(25)

25

SUMMARY | PROSIEBENSAT.1 FURTHER PROGRESSES ON ITS PROFITABLE GROWTH PATH

We will continue to leverage our leading positions in the German-speaking entertainment markets to generate substantial cash flow and profits.

Based on our successful strategy, we will further focus on the improvement of cashflow and P7S1 ROCE.

We are on track toexceed our mid-term ROCE targetahead of expectations due to the consequent execution of our value creating strategy.

We intend to furtherinvest in all three of our segments, Entertainment, Dating and Commerce & Ventures,to boost organic growth of the Group.

Based on our strong results for the first nine months, we haveincreased our FY 2021 targets again, proving that we have successfully and independently left behind the Corona crisis.

(26)

Appendix

(27)

GROUP P&L

1) Attributable to shareholders of P7S1

Note: Net financial debt as of 09/30/2021 respectively as of 09/30/2020 27

[in EUR m]

Q3 2021 Q3 2020 YoY 9M 2021 9M 2020 YoY

Revenues 1,055 921 +15% 3,041 2,555 +19%

Adjusted EBITDA 162 149 +9% 470 328 +43%

Reconciling items -6 25 n/a -25 12 n/a

EBITDA 156 174 -10% 445 340 +31%

Depreciation, amortization and

impairments -59 -60 -2% -185 -181 +2%

Thereof PPA -14 -13 +9% -42 -40 +6%

Operating result (EBIT) 97 114 -15% 260 159 +64%

Financial result 6 -13 n/a 53 -84 n/a

Thereof interest result -10 -19 -49% -32 -51 -37%

Thereof "at equity" result -10 -15 -35% -33 -43 -25%

Result before income taxes (EBT) 103 100 +2% 312 75 >+100%

Net income

¹⁾

73 69 +6% 262 52 >+100%

Adjusted net income

¹⁾

58 29 +98% 158 36 >+100%

Net financial debt 2,111 2,488 -15%

(28)

ENTERTAINMENT SEGMENT BENEFITED STRONGLY FROM RECOVERY OF ADVERTISING BUSINESS

ENTERTAINMENT EXTERNAL REVENUES AND ADJUSTED EBITDA

[in EUR m]

Q3 2021 Q3 2020 YoY 9M 2021 9M 2020 YoY

External Revenues

728 633 +15% 2,075 1,772 +17%

Organic 728 621 +17% 2,075 1,743 +19%

Advertising

535 455 +18% 1,518 1,315 +15%

DACH

479 398 +21% 1,353 1,170 +16%

Rest of World

56 57 -2% 164 145 +14%

Distribution

44 42 +4% 134 125 +7%

Content

125 104 +20% 351 249 +41%

Other

24 31 -23% 71 83 -14%

Adjusted EBITDA

128 115 +11% 367 260 +41%

Comments

• The Entertainment advertising business benefited strongly from the ad market recovery both in the DACH region and globally.

• Continued distribution revenue growth driven by solid HD subscriber growth and more comprehensive distribution agreements.

• Content business also continued to recover from prior year's COVID-19 impact, translating into double-digit revenue growth in both Q3 and 9M 2021.

• Other Entertainment revenues primarily reflect deconsolidation of myLoc in September 2020.

(29)

DATING SEGMENT REVENUE GROWTH DRIVEN BY CONSOLIDATION OF THE MEET GROUP

DATING EXTERNAL REVENUES AND ADJUSTED EBITDA

[in EUR m]

Q3 2021 Q3 2020 YoY 9M 2021 9M 2020 YoY

External Revenues 129 84 +53% 409 201 >+100%

Organic 80 82 -2% 191 196 -2%

Adjusted EBITDA 25 19 +32% 87 51 +71%

Comments

• Dating segment with strong double-digit

% revenue growth due to first-time consolidation of The Meet Group in September 2020.

• On an organic basis, revenues were almost stable vs. prior year. The slight decline largely reflects higher consumer demand for matchmaking services during the pandemic in spring and summer 2020.

The Meet Group also notably benefited from significantly higher usage of its video services at the beginning of the pandemic.

(30)

Q3 2021 Q3 2020 YoY 9M 2021 9M 2020 YoY

External Revenues 198 204 -3% 558 582 -4%

Organic 198 172 +15% 558 490 +14%

Advertising 39 31 +25% 104 88 +19%

NuCom Group 158 172 -8% 452 492 -8%

Consumer Advice 48 44 +9% 140 142 -1%

Experiences 20 17 +16% 40 42 -5%

Beauty & Lifestyle 89 110 -19% 272 308 -12%

Other 1 1 +25% 2 3 -8%

Adjusted EBITDA 14 19 -25% 33 34 -1%

COMMERCE & VENTURES REVENUES ALMOST AT PRIOR YEAR’S LEVEL DESPITE DECONSOLIDATION EFFECTS

COMMERCE & VENTURES EXTERNAL REVENUES AND ADJUSTED EBITDA

[in EUR m]

Comments

• Commerce & Ventures segment revenues in Q3 2021 almost at prior year’s level despite deconsolidation of WindStar Medical which contributed EUR 31m to segment revenues in Q3 2020 (EUR 92 in 9m 2020).

• Adjusted for portfolio and currency effects, segment revenues grew by +15% in Q3 2021. The online beauty provider Flaconi (Beauty & Lifestyle) continued to be a meaningful revenue growth contributor.

• Revenue growth of advertising business supported by recovery of SevenVentures business and continuing growth of marktguru and wetter.com.

• Consumer Advice recorded growth of +9%

in Q3 2021, with relevant contribution from the online car rental platform Billiger Mietwagen.

• The Experiences business also recovered in Q3 2021 due to the easing of COVID-19- related restrictions.

(31)

GROUP AND SEGMENT REVENUE BREAKDOWN Q3 2021 VS. Q3 2020

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

Entertainment Dating Commerce & Ventures Total Group Q3 2021 Q3 2020 Q3 2021 Q3 2020 Q3 2021 Q3 2020 Q3 2021 Q3 2020

Advertising 535 455 39 31 574 486

DACH¹⁾ 479 398 39 31 518 429

Rest of the World 56 57 56 57

Distribution 44 42 44 42

Content 125 104 125 104

Europe 54 33 54 33

Matchmaking & Social Entertainment 129 84 129 84

Digital Platform & Commerce 158 172 158 172

Consumer Advice 48 44 48 44

Experiences 20 17 20 17

Beauty & Lifestyle 89 110 89 110

Other 24 31 1 1 25 32

Total 728 633 129 84 198 204 1,055 921

EXTERNAL REVENUES

[in EUR m]

(32)

GROUP AND SEGMENT REVENUE BREAKDOWN 9M 2021 VS. 9M 2020

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

Entertainment Dating Commerce & Ventures Total Group 9M 2021 9M 2020 9M 2021 9M 2020 9M 2021 9M 2020 9M 2021 9M 2020

Advertising 1,518 1,315 104 88 1,622 1,402

DACH¹⁾ 1,353 1,170 104 88 1,457 1,258

Distribution 134 125 134 125

Content 351 249 351 249

Europe 132 96 132 96

Matchmaking & Social Entertainment 409 201 409 201

Digital Platform & Commerce 452 492 452 492

Consumer Advice 140 142 140 142

Experiences 40 42 40 42

Beauty & Lifestyle 272 308 272 308

Other 71 83 2 3 73 85

Total 2,075 1,772 409 201 558 582 3,041 2,555

EXTERNAL REVENUES

[in EUR m]

(33)

LINEAR TV CONTINUES TO DOMINATE VIDEO USAGE WITH ADDITIONAL POSITIVE IMPACT OF COVID-19

Base: A 14-69, n=40.648

Source: ViewTime Report 2021, forsa; AGF Videoforschung in cooperation with GfK; VIDEOSCOPE 1.4, market standard: TV; own calculations; TV includes alternative usage 33

228 230 231 232 233 231 228 228 227 228 226 225 223 220 218 215 212 212 217 216 219 219 217

TV DVD/Blu-ray Free Online Videos Cinema Pay-VoD

Ø DAILY VIEWING TIME OF VIDEO CONTENT (ROLLING AVERAGE), IN MINUTES

3 3 4 5 5 6 7 9 11 13 14 16 17 19 19 20 20 22 24 26 28 30 31 13 14 14 13 13 14 15 17 19 20 21 22 23 24 25 24 25 26 29 30 31 32 33

The “ViewTime Report” has been examining the development of video content usage in Germany on a quarterly basis since 2015.

The rolling wave analysis is based on the average of the previous four quarters (LTM)

ROLLING CALCULATIONS

(34)

PAY-VOD USAGE STILL GROWING BUT SLOWDOWN AMONG THE YOUNGEST TARGET GROUP

Base: A 14–69, n=40.648

W=Source: ViewTime Report 2021, forsaThe rolling wave analysis is based on the average of the previous four quarters (LTM)

34

16 18 20 2022 2427 2932 35 3637 37 38 4041 44 4547 49 5052 53 21 24 27 28 31 33 37 40

4548 5052 52 53 5557 60 61 6466 6970 71 27 31 3435 38

4246 50

5762 6568 67 69 7276 7880 82 8284 84 84

3 3 4 5 5 6 7 9 11 13 14 16 17 19 19 20 20 2224 2628 30 31 4 5 6 7 8 9 11

13 17 20 22 25 2728 29 30 31 33363943 4546 7 8 9 10 14 15 17 20

26 31 36 41 43

47 4850 5154

60 61 62 62 63

Ø DAILY VIEWING TIME PAY-VOD (ROLLING AVERAGE) IN MINUTES

CONSUMPTION PAY-VOD (ROLLING AVERAGE) IN %, AT LEAST RARELY

•

There are signs of slowdown of Pay-VoD usage among A14-29; Recently, reach and usage time have been growing slower than in the past

•

Stagnating Pay-VoD usage among younger target groups likely to limit potential future TV viewing decline A 14-69 A 14-49 A 14-29

(35)

NETFLIX CAPTURES MAJORITY OF VIEWING TIME BUT ITS SHARE HAS BEEN DECLINING LARGELY BECAUSE OF INCREASED COMPETITION

Base: A 14–69, n=40.648 / n=6.143

W=Source: ViewTime Report 2021, forsaThe rolling wave analysis is based on the average of the previous four quarters (LTM)

35

33 34

4147 51 5052 5560 616464 65 67 66687075 77 75 73 65 65

2934 3030 31 37 36 34

29 262422 20 19 18 19 20 19 19 19 20 21 20

Netflix

Amazon Prime Video

20%

65%

5% 10%

Amazon Prime Video

Netflix Disney+

Other

MARKET SHARE PAY-VOD-PROVIDER, IN % OF DAILY VIEWING TIME (ROLLING AVERAGE)

•

Pay-VoD market highly competitive resulting from new market participants such as Disney+

•

Netflix’ share of Pay-VoD usage time dropped from 77% in Q2 2020 to 65% in Q2 2021 (rolling average)

(36)

TV SCREEN DOMINATES VIDEO USAGE THANKS TO LIVE-TV ACCOUNTING FOR 87%

OF ITS TOTAL VIEWING TIME

Base: A 14-69, n=6.143

Source: ViewTime Report 2021, forsa 36

1 2

3

210

2 10

9

11

2 4

6

19

1

3

5.68 17

19

242

Tablet Smartphone PC/Laptop TV-Screen

Live-TV Free Online Videos Pay-VoD DVD/ Blu-ray

Ø DAILY VIDEO USAGE BY DEVICE, IN MINUTES (Q2 2021, ROLLING AVERAGE)

87%

18%

14%

24%

Live-TV share (by device)

(37)

TV IS A SIGNIFICANT DRIVER FOR ONLINE SEARCHES AND ONLINE SHOPPING

Base: A 14-69, parallel user TV and Internet, n=1.471

Source: Media Activity Guide 2021, forsa 37

32 37 35 36 33 31 30 31 18 15 18 19 19

13 18 17 11 14 14 18 18

17 17 19 61 65 67 73 71

62 65 67

16 19

27 22 26 32 30 33 41 40 51

59

68 75 75 78 83 79 76 81 78

3 10 5

16

9 14 13

20

34 25 34

28

46 50

52 64

Search for information on products from a TV commercial Online shopping / online auctions Search for information on products that have been shown in TV programs Search for information about the current TV programme

ACTIVITIES WITH PARALLEL USE OF TV AND INTERNET PARALLEL USE: TV AND INTERNET IN %

IN %

Frequently Occasionally Rarely Frequently

Occasionally Rarely

A 14-69

Base: A 14-69, TV- and Internet user, n=21.385 Source: Media Activity Guide 2021, forsa

A 14-49, at least rarely

2021 vs. 2020 in % pts.

+7%

+8%

+7%

-1%

(38)

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

38

(39)