Mediaset Espana Comunicacion S.A.

Investor Presentation • May 11, 2022

January – March

Madrid, May 11th 2022

Q1 2022 Financials

Q1 2022 Financials
Million €	Q1 22	Q1 21	%
Total net revenues	188.0	184.0	2.2%
Total operating costs	153.7	132.6	15.9%
EBITDA	34.3	51.3	(33.1%)
EBITDA margin	18.3%	27.9%
EBIT	29.9	47.1	(36.7%)
EBIT margin	15.9%	25.6%		Source: Kantar Media
NET PROFIT	23.7	36.7	(35.4%)
EPS	0.08	0.12
Free Cash Flow	80.0	84.6	(5.4%)	Mediaset
Net cash position	312.2	95.6	226.6%%	Others
			Source: Company Data

24H Total Individuals TV Audience Share and Commercial Target Jan.-Apr. Q1 22

Commercial Target includes individuals from 16 to 59 years old that live in areas with a population of more than 10,000 inhabitants and belong to all but the lowest socio-economic index.

-0.7

Advertising market evolution Q1 2022

Source Infoadex TV AD MARKET: 1.1% in Q1 22

DIGITAL AD MARKET +11.0(*) IN Q1 22

(*) Source Infoadex (search engines not included)

Commercial Policy Q1 2022

Source: Company Data

Gross TV Advertising Revenues Q1 2022

Digital advertising business

(*) Source: Infoadex (search engines excluded). Internal data.

Outlook 2022

1. Leading in profitability, and an audience share which allows us to be advertising market share and price leaders

Results Presentation – Q1 2022 2. Cost flexibility, adapted to advertising market conditions, cinema activities and new digital projects

1. Complex macro outlook for 2022, with an expected improvement in the second half of the year

2. Maintain strong financial position for taking potential business opportunities which may come

3. Looking for new opportunities both digital and content production

Profit & Loss Accounts I

Q1 22	Q1 21
		Var%
175.1	171.0	2.4%
168.6	167.0	0.9%
6.5	4.0	62.3%
(7.8)	(7.2)	9.2%
167.2	163.8	2.1%
20.8	20.1	3.2%
188.0	184.0	2.2%
(27.9)	(18.1)	54.8%
(31.7)	(30.3)	4.6%
(94.0)	(84.2)	11.6%
(153.7)	(132.6)	15.9%
34.3	51.3	(33.1%)
18.3%	27.9%

Profit & Loss Accounts I I

Profit & Loss Accounts I I
EUR Mill.	Q1 22	Q1 21	Var%
EBITDA	34.3	51.3	(33.1%)
EBITDA Margin	18.3%	27.9%
Other Amortisations. Provisions	(2.3)	(1.9)	19.9%
Amortisation PPA	(2.2)	(2.2)	(4.4%)
EBIT	29.9	47.1	(36.7%)
EBIT Margin	15.9%	25.6%
	0.5	0.6	(10.0%)
Equity Cons. Results and Depr. Fin. Assets			-
Financial results	(0.6)	(0.4)
Pre-tax Profit	29.8	47.4	(37.1%)
Income Taxes	(5.8)	(10.3)	(43.6%)
Minority Interests	(0.3)	(0.4)	(26.5%)

Advertising revenues by sector Q1 2022

Source: Infoadex

CAPEX Allocation

Presentation – Q1 2022

Third Party Fiction Co Production/Distribution Tangible & Intagible Fixed Assets

Weight of In-house Contents

Balance Sheet I

Balance Sheet I
EUR Mill.	March 22	Dec. 21
Financial	671.5	745.6
Fixed Assets	206.4	210.7
Audiovisual Rights	152.8	142.3
Third parties	80.3	62.2
Fiction	44.0	50.8
Co-production / Distribution	28.5	29.3
Tax Asset	49.7	49.6
TOTAL NON-CURRENT ASSETS	1,080.4	1,148.2
Current assets	189.8	267.0
Financial investments and cash	339.1	293.1
TOTAL CURRENT ASSETS	528.9	560.0
TOTAL ASSETS	1,609.3	1,708.2
		Source: Company Data
Presentation – Q1 2022

Balance Sheet II

Balance Sheet II
EUR Mill. March 22	Dec. 21
Shareholders`equity 1,234.9	1,275.5
Non-current provisions 11.5	12.8
Tax liabilities 60.5	58.9
Financial Debt 25.4	25.4
Non-current other liabilities 38.2	48.2
TOTAL NON-CURRENT LIABILITIES 135.6	145.3
Current payables 237.3	252.9
Other current liabilities 0.0	33.2
Current financial liabilities 1.5	1.3
TOTAL CURRENT LIABILITIES 238.8	287.5
TOTAL LIABILITIES 1,609.3	1,708.2

Cash Flow

Cash Flow
EUR Mill.	Q1 22	Q1 21	Var € mill.
Initial cash position	266.3	123.2	143.1
Operating free cash flow	80.0	84.6	(4.6)
Operating cash flow	57.0	67.9	(10.9)
Net Investments (rights & other)	(39.3)	(32.7)	(6.6)
Change in working capital	62.2	49.3	12.9
Change in Equity	0.0	(1.9)	1.9
Financial investments/disinvestments	(34.1)	(110.3)	76.2
Dividends received	0.0	0.0	0.0
Dividend payments	0.0	0.0	0.0
Own stock purchase	0.0	0.0	0.0
Net Cash Change	45.9	(27.6)	73.5
	312.2	95.6	216.6
Final net cash position

Mario Sacedo | Loreto Antón | Sarah Moon Ctra. de Fuencarral a Alcobendas 4 28049 Madrid +34 91 396 67 83 investors@mediaset.es Statements contained in this document. particularly the ones regarding any Mediaset España possible or assumed future performance. are or may be forward looking statements and in this respect they involve some risks and uncertainties. Mediaset España actual results and developments may differ materially from the ones expressed or implied by the above statements depending on a variety of factors. Any reference to past performance of Mediaset España shall not be taken as an indication of future performance. The content of this document is not. and shall not be considered as. an offer document or an offer or solicitation to subscribe for. buy or sell any stock. The shares of Mediaset España may not be offered or sold in the United States of America except pursuant to an effective registration statement under the U.S. Securities Act of 1933. as amended. or pursuant to a valid exemption from registration

Results Presentation – Q1 2022