Mediaset Espana Comunicacion S.A.

Investor Presentation • Feb 23, 2022

January – December Madrid. February 23rd ²⁰²²

FY 2021 Financials

FY 2021 Financials
25.7%	27.6%
181.0	178.7	1.3%
0.58	0.57
252.0	200.9	25.4%
266.3	123.2	116.1%		Others
		Source: Company Data
	FY 21 876.3 633.4 243.0 27.7% 225.3	FY 20 836.6 584.0 252.7 30.2% 230.5	% 4.7% 8.5% (3.8%) (2.3%)	28.2%	Source: Kantar Media Mediaset

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.

3

Audience profile

Advertising market evolution 2021

Source Infoadex TV AD MARKET: 8.3% in FY 21

DIGITAL AD MARKET +18.6%(*) IN FY 21

(*) Source Infoadex (search engines not included)

Commercial Policy 2021

	Digital developments
					webs
	 New audiovisual Law considers HbbTV	as digital activity (lower restrictions)			Leading video consumption among the media players with all-time high (+18% vs 20)
	 Incorporation	of Ad Impact and Ad Sponsor new advertising options that allow greater precision in the targeting, presentation and measurement of its effectiveness	 Record		with a monthly average of 19.4 M unique users , 7% more than 2020.
	 Awarded at the HbbTV	Awards 2021 for the technological developments	 Mitele	compared to 2020 to 2.9M unique users per month.	was the most viewed television platform of the year, growing 15% in traffic
	 The reinforcement of security and transparency with Protection Regulation (RGPD).	regard to the General Data
		Digital revenues (*)	67.8
		54.9
		42.0 +61.4% € Mill. 2019 2020	2021
Results	Presentation – FY 2021	(*) Advertising revenues, subscription fees & other digital revenues included		Source: Company Data		7

(*) Advertising revenues, subscription fees & other digital revenues included

Cash Flow Generation

Free Cash Flow

PROSIEBEN

1. Largest shareholder with 13.2% of share capital (close to 25% at MFE level)

Results Presentation – FY 2021 2. Investment financed predominantly with equity (December 2021 levels)

1. Industrial nature investment

2. Positive financial impact in P&L via dividends

3. Foothold in the largest European country

ESG 2021

(*) Source Financial Times: Both listed and non listed companies included

Only Spanish media Group with covid-19 Aenor certification which guaranties employees and providers safety

In-house medical service Healthy lifestyle promotion

Improving employees' skills Warranties equal access to training courses and grants

• Gender equality policies include in the Ethical Code
• Women participation in equal leadership opportunities

Results Presentation – FY 2021 Improve efficient consumption of natural resources Improve salaries, labor conditions and social benefits

Optimize innovation in order to have more efficient and sustainable infrastructure

• Reinforce resilience and adaptation to climate change

• Improve education and awareness with climate change

• Violence reduction, corruption and bribery

• Promote regulation application and warranty an equal access to justice

Creation of alliances and agreements with institutions for improving sustainability

Outlook 2022

1. Leading in profitability, audience share with particular attention to commercial target and advertising market share

2. Cost flexibility, adapted to advertising market conditions, cinema activities and new digital projects

3. Positive outlook for 2022, with the expectation of a strong recovery in the autos sector

Results Presentation – FY 2021 4. Maintain strong financial position for facing uncertainties and taking investment opportunities

1. Looking for new opportunities both digital and content production

2. Share buy back program of EUR150 million to be proposed at next AGM

Profit & Loss Accounts I

Profit & Loss Accounts I
EUR Mill.	FY 21	Q1 20	Var%
Gross Advertising Revenues	833.6	759.1	9.8%
Mediaset España´s Media	806.6	741.7	8.7%
Third Party Media	27.1	17.4	55.6%
Commission	(36.9)	(29.8)	23.8%
Net Advertising Revenues	796.7	729.3	9.2%
Other Revenues	79.6	107.3	(25.8%)
Total Net Revenues	876.3	836.6	4.7%
Rights Amortisation	(97.2)	(126.7)	(23.3%)
Personnel	(131.3)	(120.6)	8.9%
Other Operating Costs	(404.9)	(336.7)	20.3%
Total Costs	(633.4)	(584.0)	8.5%
EBITDA	243.0	252.7	(3.8%)

Profit & Loss Accounts I I

Profit & Loss Accounts I I
EUR Mill.	FY 21	FY 20	Var%
EBITDA	243.0	252.7	(3.8%)
EBITDA Margin	27.7%	30.2%
Other Amortisations. Provisions	(8.9)	(14.0)	(36.4%)
Amortisation PPA	(8.8)	(8.2)	7.5%
EBIT	225.3	230.5	(2.3%)
EBIT Margin	25.7%	27.6%
Equity Cons. Results and Depr. Fin. Assets	3.0	2.6	16.0%
Financial results	2.9	(1.8)	-
Pre-tax Profit	231.3	231.4	(0.1%)
Income Taxes	(48.4)	(50.4)	(3.9%)
Minority Interests	(1.8)	(2.3)	(20.7)
Net Profit	181.0	178.7	1.3%
			Source: Company Data

Profit & Loss Accounts II

CAPEX Allocation

Presentation – FY 2021

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

Increasing Weight of In-house Contents

Balance Sheet I

Balance Sheet I
EUR Mill.	Dec. 21	Dec. 20
Financial	745.6	662.0
Fixed Assets	210.7	225.3
Audiovisual Rights	142.3	129.4
Third parties	62.2	63.6
Fiction	50.8	44.7
Co-production / Distribution	29.3	21.0
Tax Asset	49.6	79.2
TOTAL NON-CURRENT ASSETS	1,148.2	1,095.8
Current assets	267.0	302.9
Financial investments and cash	293.1	326.0
TOTAL CURRENT ASSETS	560.0	628.9
TOTAL ASSETS	1,708.2	1,724.7
		Source: Company Data
Presentation – FY 2021

Balance Sheet II

Balance Sheet II
EUR Mill.	Dec. 21	Dec. 20
Shareholders`equity	1,275.5	1,111.9
Non-current provisions	12.8	12.6
Tax liabilities	58.9	49.6
Financial Debt	25.4	202.5
Non-current other liabilities	48.2	108.7
TOTAL NON-CURRENT LIABILITIES	145.3	373.4
Current payables	252.9	238.3
Other current liabilities	33.2	0.0
Current financial liabilities	1.3	1.1
	287.5	239.4
TOTAL CURRENT LIABILITIES
TOTAL LIABILITIES	1,708.2	1,724.7

Cash Flow

Cash Flow
EUR Mill.	FY 21	FY 20	Var € mill.
Initial cash position	123.2	(23.2)	146.4
Operating free cash flow	252.0	200.9	51.1
Operating cash flow	319.5	341.6	(22.1)
Net Investments (rights & other)	(119.4)	(98.6)	(20.8)
Change in working capital	51.9	(42.1)	94.0
Change in Equity	(1.3)	0.0	(1.4)
Financial investments/disinvestments	(112.9)	(59.1)	(53.8)
Dividends received	7.6	4.1	3.6
Dividend payments	(1.5)	0.0	(1.5)
Own stock purchase	(0.7)	0.5	(1.2)
Net Cash Change	143.1	146.4	(3.3)
	266.3	123.2	143.1
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 – FY 2021