RESULTS PRESENTATION Q3 2022

PROMOTORA DE INFORMACIONES, S.A. October 25th, 2022

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Q3 KEY HIGHLIGHTS

PRISA GROUP Q3 2022 KEY HIGHLIGHTS

Continued operational improvement in both Media and Education

Despite macro uncertainties since the beginning of the year, businesses continue to show their resilience. EBITDA ex severance costs reached €76m (+80% vs. 9M 2021). Adj. EBITDA Mg 12.9% (+4 pps). Reported EBITDA increased by 4 times compared to the same period last year.

Boost of digital

Ed-Tech subscription model keeps growing, achieving 2.62m subscriptions. Above FY2022 expectations. EL PAÍS reached 243k subscribers, of which 204K are digital-only (+68% YoY). Increase in audio consumption (streaming hours +19% YoY) and podcast downloads (+43% YoY). Digital revenues increased by 30% in the first nine months of the year.

Moving forward on the Group's sustainability roadmap

Sustainability Master Plan 2022-2025 has been developed connecting the ESG commitments with our businesses, to provide more value and growth opportunities.

Focusing on three clear commitments (Impact on people and society, Responsible management and Committed governance) with 17 goals aligned with those submitted at the CMD. Based on a new materiality analysis, with the involvement of senior management and business units.

2022 Guidance

On track to accomplish FY2022 Guidance pending on key Q4 milestones (Advertising market performance and Education Public Sales).

PRISA GROUP MAIN INDICATORS

1) Excluding severance expenses 2) Excluding One-Offs

3) Digital-only subscribers

PRISA GROUP FINANCIALS

PRISA GROUP FINANCIAL HIGHLIGHTS

Operating performance

Significant increase in adjusted EBITDA: +80% compared to the same period last year. Both Education and Media businesses contributing to EBITDA growth: +69% and +49%, respectively; whilst corporate center significantly reducing costs.

Cash generation

Cash flow ex one offs (+€2.4m), above last year's figure (+€1.1m), in line with expectations. Total Cash flow - €62.4m (- €28m / -80% YoY) conditioned by the acquisition of Radio's minorities (€32m) and by refinancing and hedging costs (€16m).

Debt

Net Bank debt €845m vs €756m as of December 2021, particularly impacted by extraordinary effects. c.6.5x Net Financial Debt / LTM EBITDA ratio (vs 8x in December 2021). Interest rate hedging initiated and continuous monitoring of markets for potential additional hedges.

Liquidity

Cash position stands at €131m, with additional undrawn liquidity lines amounting to €101m. Continuous optimization of liquidity and cash management considering liquidity needs both in Spain and LatAm.

PRISA GROUP KEY INDICATORS

Q3 results show improvement across all key indicators

Revenue increase of 21% in the first nine months of the year. +11% in Q3.
Adj. EBITDA grows by 80% compared to the same period last year. +9% in Q3.
Cash generation ex one-offs 1.1 million above same period 2021.
Higher capex during the period in c. 5 million vs the same period previous year explained by increased focus on digital investments.
Total financial Net Debt stands at €915m vs. €825m in December 2021.

	9M'21 (€m)	9M'22 (€m)	Var (%)	Q3'21 (€m)	Q3'22 (€m)	Var (%)
Revenues	486	587	+21%	180	199	+11%
Expenses	468	518	+11%	164	175	+6%
EBITDA	18	69	+285%	15	24	+60%
EBITDA ex severance costs	42	76	+80%	24	26	+9%
% Margin	8.7%	12.9%	+49%	13.4%	13.2%	-2%
EBIT	-29	20	---	-1	10	---
Net Result	-82	-28	+66%	-26	-14	+45%
Cash Flow ex one-offs	1	2	+81%	31	12	-60%
Capex	-30	-35	-17%	-13	-13	-1%
Net Financial Debt Inc. IFRS16	Dic-21 825	915	+11%	---	---	---

PRISA GROUP – NET PROFIT

EBIT increased by €49m compared to the same period 2021.
Improved financial result (+7% vs 2021) due to the accounting impact of new financing.
Net Profit improvement (+ €54m YoY) driven by operational growth of the businesses.

	9M'21 (€m)	9M'22 (€m)	Var (%)	Q3'21 (€m)	Q3'22 (€m)	Var (%)
EBIT	-29	20	---	-1	10	---
Financial result	-45	-42	+7%	-16	-20	-22%
Equity method companies	0	4	---	0	0	+20%
Profit before tax	-74	-18	+75%	-16	-10	+42%
Tax Expense	10	11	+14%	9	6	-39%
Minority interest	-2	-1	+35%	0	-1	---
Net Profit	-82	-28	+66%	-26	-14	+45%

CASH FLOW

Var.

9M 2022 Cashflow evolution

Excludes FX impact on Cash Balance. Millions of Euros.

*Others includes: Financial investments, other cash flows, dividends and divestments.

NET DEBT EVOLUTION AND BANK DEBT PROFILE

Financial net debt evolution

Millions of Euros.

825 6	-2.4	+64.8	+26.7	+1.1	915 IFRS16 RS1 6 RS1 70 F I F
RS1 69 F I 756	€32m: €15m:	Acquisition of Radio Minorities €16m: Refinancing and Hedging Costs Severance payments			I 845
DEC 2021 Financial Net Debt	CF ex one-offs	One-offs	Others*	IFRS 16	SEP 2022 Financial Net Debt

Bank debt Profile

Millions of Euros.

TRANCHE	QUANTUM(**)	MARGIN	MATURITY
· Super Senior	c. €160m + €80m RCF	E+5.00% Cash	JUN-26
· Senior	c. €575m	E+5.25% Cash	DEC-26
· Junior	c. €185m	E+3.00% Cash + 5.00% PIK	JUN-27
TOTAL	c. €920m	Blended E+5.9%	-

• C. €22m interest payment expected in Q4, according to the financing schedule

• Interest rate hedge (CAP) closed on a nominal amount of €150m, whilst monitoring markets for potential additional hedging

• Cash position standing at €131m and additional undrawn liquidity lines amounting to €101m

* Includes mainly PIK , accrued interest, capitalized fees and impact of FX on Net debt. . ** Includes applicable OIDs.

PRISA MEDIA

PRISA MEDIA OVERVIEW

EL PAÍS DIGITAL SUBSCRIPTION EVOLUTION (k)

Outstanding leadership in the Hispanic market of press digital subscriptions

❑ >243k subscribers, of which >204k are only-digital subscribers
❑ >66k digital-only net additions in the first nine months of 2022
❑ >11% Compound Quarterly Growth Rate in 2022

^+50% Total subscribers'

PRISA MEDIA KEY INDICATORS

Results supported by good advertising performance, whilst digital business and efficiency continue to be key levers

Advertising:

Net advertising revenue growth by 6% vs. 2021 despite no events (Eurocup 2021).
Advertising revenues driven by Radio, mainly by local and international.

Circulation:

• Revenue increased by 3% in the 9 months period mainly driven by the online circulation that offsets the decline in offline circulation.

Efficient cost control with expenses lower than 2021 despite business growth.

€7.2m EBITDA ex one-offs improvement vs. same period 2021.

		9M'21 (€m)	9M'22 (€m)	Var (%)	Q3'21 (€m)	Q3'22 (€m)	Var (%)
Revenues		263	278	+6%	88	92	+4%
	Advertising	201	210	+5%	68	68	+1%
	Circulation	39	40	+3%	14	14	+2%
Expenses		264	260	-2%	87	85	-3%
Variable expense		42	49	+19%	14	17	+25%
Fixed expense		222	210	-5%	73	67	-8%
Digital Revenue Mix		24%	23%	-1 pp	25%	24%	-2%
Geography	Spain	83%	80%	-3pp	80%	79%	-1 pp
Revenue Breakdown	Rest	17%	20%	+3 pp	20%	21%	+1 pp
EBITDA		0	18	---	1	7	+578%
EBITDA ex sev. Expenses		15	22	+49%	6	8	+22%
Adj. EBITDA Margin		5.6%	7.9%	+41%	7.2%	8.5%	+17%

SANTILLANA

SANTILLANA OVERVIEW

528

129

2.625

SANTILLANA KEY INDICATORS

Strong results driven by the recovery in private business, with significant contribution of subscription models

Private business

2.6m subscriptions vs 2.5m expected for FY22.
Strong performance of subscription models supported by transformation strategy.
Didactic business recovery supported by return to normality in LatAm schools and extraordinary sales in Argentina.

Public business

• Outstanding performance in Mexico, pending Brazil's Public Sales.

FX impact: Revenues (+€27.9m) & EBITDA (+€3.7m).

			9M'21 (€m)	9M'22 (€m)		Var (%)
Total subscriptions (Thousands)			1.970		2.625	+33%
Campaign revenues*			121		173	+43%
% Learning systems / Private sales			62%		61%	-100 bps
	9M'21 (€m)	9M'22 (€m)	Var (%)	Q3'21 (€m)	Q3'22 (€m)	Var (%)
Revenues	223	310	+39%	92	108	+17%
Expenses	192	255	+32%	74	89	+21%
EBITDA	31	56	+80%	18	19	+5%
EBITDA ex severance expenses	35	59	+69%	20	20	+2%
Adj. EBITDA Margin	15.5%	18.9%	+22%	21.4%	18.6%	-13%

FY2022 GUIDANCE – PRISA GROUP

ON TRACK TO ACCOMPLISH FY2022 GUIDANCE PENDING ON KEY Q4 MILESTONES (ADVERTISING MARKET PERFORMANCE AND EDUCATION PUBLIC SALES)

(*) One offs including M&A and refinancing costs and Severance payments 20

Focus on business plan delivery by the Management team according to strategic roadmap, while monitoring closely current macro environment.

Last quarter of the year with high relevance in both businesses.

Continue to carry out initiatives to bolster our sustainability commitment.

SUSTAINABILITY MASTER PLAN 2022-2025

PRISA's Sustainability Master Plan 22-25 focuses on three clear commitments…

… and 17 goals aligned with those submitted at the CMD, to support the PRISA strategic SDGs

Cross-cutting SDG

PRISA joins the #apoyamoslosODS campaign promoted by the UN Global
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Santillana joins the UN Global Compact Brazil
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Use of sustainably sourced paper in all our daily newspapers

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Included in the IBEX Gender Equality Index for having ^a greater presence of G women, both in the board of directors and in senior management

Compact Spain

Investor Relations

+34 91 330 1085 [email protected]

www.prisa.com

FORTHCOMING EVENTS CALENDAR

8th-10th November 2022: JB Capital Iberian Conference More information available on the event website

23rd November 2022: Foro LATIBEX 2022 More information available on the event website

11th& 12th January 2023: Spain Investors Day

More information available on the event website

1 st & 2nd February 2023: XXIX Santander Iberian Conference