Atresmedia Corporacion de Medios de Com. S.A.

Investor Presentation • Jul 27, 2022

July 27th, 2022

"We believe in the power of reflection and emotion"

H1 22 Highlights

• According to internal estimates, Total Ad market increased by 2% in H1 22. TV was down by 5%, while Radio and Digital increased by 9% and 3% respectively Atresmedia TV increased market share in yoy basis (42.9%) and its Atresmedia's Total net revenue amounted to €460 mill; -1.0% yoy
• Within our Audiovisual division:
• audience up to 27.9% in Total Individuals (+0.3 bp vs H1 21)
• Price was 3% up vs last year driven by audience leadership
• Atresmedia Digital achieved 26.5 million monthly unique users in June 22.
• Atresmedia International reached 59 mill subscribers
• In Radio, Atresmedia obtained 2.9 mill listeners/day
• Total Net Debt stood at €91 mill (€41mill in proforma basis)
• OPEX stood at €372 mill; -0.5% yoy
• EBITDA of €88.3 mill; (-3.1% yoy)
• Net Profit was €57.2 mill (-8.5% vs H1 21)
• H1 22 Results ²

H1 22 Financial Summary

1

Atresmedia

H1 22 Results in € mill: P&L

Atresmedia H1 22 H1 21 YoY Net Revenues << 464.8 460.0 -1.0% 373.6 OPEX 371.6 -0.5% <<<<<<<<<<<<<<<<< -3.1% 91.2 EBITDA 88.3
<<< EBITDA Margin 19.6% 19.2%
-3.0% 82.2 EBIT 79.7
17.7% EBIT Margin 17.3%
-8.5% 62.5 Net profit 57.2
Net profit Margin 13.4% 12.4%
Source: Atresmedia's financial statements
H1 22 Results 4

Atresmedia: Net revenues by segment

• Total Net Revenues stood at €460.0 mill (-1.0% yoy)
• Audiovisual revenues were €429.2 mill (-1.7% yoy)
• Radio revenues totaled €35.5 mill (+6.3% yoy)

Eliminations are not included

Atresmedia: Total revenue

Atresmedia: OPEX by segment

• Total OPEX was €372 million, -0.5% yoy
• Audiovisual expenses reached €346 mill (-0.7% yoy)
• Radio expenses: €31 mill (-0.6% yoy)

Eliminations are not included

Atresmedia: Cash flow & Debt position

• Total net debt reached €91 million vs €13 million at Dec-2021
• Total net debt proforma, adjusted by the cash investment in a bank deposit, reached €41 million

* Includes €50mill in a bank deposit

Atresmedia Audiovisual H1 22 results in € mill: P&L

		H1 22	H1 21	YoY
	Total Net Rev.	429.2	436.8	-1.7%
	OPEX	345.8	348.2	-0.7%
	EBITDA EBITDA Margin	83.4 19.4%	88.6 20.3%	-5.8%
	EBIT EBIT Margin	76.0 17.7%	80.8 18.5%	-6.0%
	Source: Atresmedia`s financial statements
H1 22 Results		9

Audiovisual: Breakdown

• Audiovisual Net Revenue decreased by 1.7%, with digital and others above the average
• OPEX down by 0.7% mainly driven by adjustments in Overheads and Personnel costs.

Atresmedia Radio H1 22 Results in € mill: P&L

		H1 22	H1 21	YoY
	Net Revenues	35.5	33.4	+6.3%
	OPEX	30.6	30.8	-0.6%
	EBITDA	4.9	2.6	+87.1%
	EBITDA Margin	13.8%	7.9%
	EBIT EBIT Margin	3.7 10.4%	1.3 4.0%	+175.5%
	Source: Atresmedia's financial statements
H1	22 Results	11

H1 22 Operational Summary

2

According to internal estimates, Total Ad market increased by 2% yoy. Advertising market in Spain

According to internal estimates, Total Ad market increased by 2% yoy.  Internal Media H1 22 -5.1% TV +9.1% Radio +3.1% Digital +3.6% Newspapers +0.9% Magazines -1.8% Sunday suppl. +32.6% Outdoor +30.2% Cinema +2.3% Total Source: Internal estimates
	H1 22 Results	13

TV Advertising market Q2 22 (-10% yoy), weaker than expected due to geopolitical instability and the increase in energy prices

Source: Infoadex

TV Advertising market by category H122 market evolution in negative

Autos, Food, and Telecom, worst behaviour than the rest of the sectors.

*Others: Cleaning, Leisure & sports, energy,….

Source: Internal estimates

TV Ad market: Competitive position

Atresmedia's market share increased to 42.9% according to internal estimates

Source: Internal estimates

TV viewing

Linear TV viewing decreases versus H1 21

Source: Kantar Media. Non linear TV viewing includes +7 days viewing through TV set (TV viewing on desktops, tablet or mobile devices not included)

Source: Kantar Media

Atresmedia TV: 27.9% audience share. Leader of the TV market in Spain, with one channel less than its main competitor Television: Atresmedia audience share

Source: Kantar Media. Total Individuals (4y+)

Television: Groups audience share

Clearly leading Total individuals' audience share (best rating since 2014)

Source: Kantar Media. Total Individuals (4y+) Source: Kantar Media. Commercial Target (25-59 y), >10,000 inhabitants

Atresmedia Television: Ad revenues breakdown in H1 22 GRP decrease mainly driven by TV consumption reduction in H1 22

Source: Internal estimates

• Atresmedia Digital In #6th position among most visited sites in Spain

• Atresplayer Premium: leader Spanish SVoD platform with more than 412k subscribers. • Documentaries: Pajares & Cía and Los Borbones Content Production & Distribution: SVOD

• H1 22 Releases:
• Entertainment: Drag Race's 2nd season
• Scripted content: Señor dame paciencia, Heridas, Historia de Los Protegidos, La edad de la ira.

Production & Content sales: Atresmedia International

Totalling 59 mill subscribers with our four international channels

Atresmedia Radio Atresmedia Radio's revenue grew by 6.3% while OPEX fell by 0.6% in the semester. EBITDA reached 4.9 mill€ vs 2.6 mill€ in H1 21

Source: Internal estimates

Atresmedia Radio Atresmedia Radio reached over 3 mill listeners/day in the last survey

Back up

Atresmedia

22 Results in € mill: P&L
			YoY
	250.7	260.9	-3.9%
	197.5	204.3	-3.3%
	53.2 21.2%	56.6 21.7%	-6.0%
	48.8 19,5%	52.0 19,9%	-6.3%
	34.0 13.6%	42.4 16.3%	-19.8%
	Total Net Rev. OPEX EBITDA EBITDA Margin EBIT EBIT Margin Net profit Net profit Margin	Q2 22	Q2 21

Atresmedia Audiovisual Q2 22 Results in € mill: P&L

		Q2 22	Q2 21	YoY
	Total Net Rev.	233.0	244.0	-4.5%
	OPEX	183.9	191.3	-3.9%
	EBITDA EBITDA Margin	49.1 21.1%	52.7 21.6%	-6.8%
	EBIT EBIT Margin	45.3 19.5%	48.8 20.0%	-7.2%
	Source: Atresmedia`s financial statements
H1 22 Results		28

Television: Ad revenues breakdown in Q2 22

Source: Internal estimates

Atresmedia Radio Q2 22 Results in € mill: P&L

		Q2 22	Q2 21	YoY
	Net Revenues	19.9	19.6	+1.7%
	OPEX	15.9	15.7	+0.8%
	EBITDA EBITDA Margin	4.0 20.3%	3.8 19.6%	+5.4%
	EBIT EBIT Margin	3.4 17.3%	3.2 16.3%	+7.9%
	Source: Atresmedia's financial statements
H1	22 Results	30

Investor Relations Department

Phone: +34 91 623 46 14 E-mail: ir@atresmedia.com Web: www.atresmediacorporacion.com

Legal Notice

The information contained in this presentation has not been independently verified and is, in any case, subject to negotiation, changes and modifications. None of the Company, its shareholders or any of their respective affiliates shall be liable for the accuracy or completeness of the information or statements included in this presentation, and in no event may its content be construed as any type of explicit or implicit representation or warranty made by the Company, its shareholders or any other such person. Likewise, none of the Company, its shareholders or any of their respective affiliates shall be liable in any respect whatsoever (whether in negligence or otherwise) for any loss or damage that may arise from the use of this presentation or of any content therein or otherwise arising in connection with the information contained in this presentation. You may not copy or distribute this presentation to any person. The Company does not undertake to publish any possible modifications or revisions of the information, data or statements contained herein should there be any change in the strategy or intentions of the Company, or occurrence of unforeseeable facts or events that affect the Company's strategy or intentions. This presentation may contain forward-looking statements with respect to the business, investments, financial condition, results of operations, dividends, strategy, plans and objectives of the Company. By their nature, forward-looking statements involve risk and uncertainty because they reflect the Company's current expectations and assumptions as to future events and circumstances that may not prove accurate. A number of factors, including political, economic and regulatory developments in Spain and the European Union, could cause actual results and developments to differ materially from those expressed or implied in any forward-looking statements contained herein. The information contained in this presentation does not constitute an offer or invitation to purchase or subscribe for any ordinary shares, and neither it nor any part of it shall form the basis of or be relied upon in connection with any contract or commitment whatsoever.

H1 22 Results ³¹