Viaplay Group

Earnings Release • Jul 22, 2021

2021 Q2

5 year strategy on track – 31% organic sales growth and 21% Viaplay subscriber growth

• Viaplay paying subscribers up 21% YoY to 3,287k (2,716) with 140k subscribers added QoQ, of which 113k were Nordic subscribers and 27k were international subscribers. 2021 year end international Viaplay subscriber target upgraded from more than 250k to 500k
• 31% organic sales growth with reported sales of SEK 3,072m (2,624m including SEK 238m contribution from subsequently deconsolidated Viasat Consumer business)
• Operating income before associated company income (ACI) and items affecting comparability (IAC) up 56% to SEK 244m (156) including SEK -50m impact of Viaplay International expansion. Operating income up 98% on an underlying basis when excluding SEK 33m contribution from the Viasat Consumer business in Q2 2020
• Total reported operating income of SEK 179m (2,594) including ACI of SEK 9m (54) and previously announced IAC of SEK -74m (2,383 capital gain arising from the merger to create Allente joint venture)
• Net income from continuing operations of SEK 87m (2,517)
• Adjusted net income from continuing operations of SEK 266m (148) with adjusted EPS of SEK 3.41 (2.20)
• Net income from total operations of SEK 92m (2,515), with EPS of SEK 1.18 (37.34)

Financial overview

					Full year
(SEKm)	Q2 2021	Q2 2020	H1 2021	H1 2020	2020
Continuing operations
Net sales	3,072	2,624	6,054	5,994	12,003
Organic growth	31.3%	-12.6%	23.2%	-6.9%	0.1%
Operating income before ACI and IAC	244	156	407	375	978
Associated company income (ACI)	9	54	57	54	100
Operating income before IAC	253	210	463	429	1,077
Items affecting comparability (IAC)1)	-74	2,383	-74	2,383	2,109
Operating income	179	2,594	390	2,813	3,186
Net income, continuing operations	87	2,517	242	2,673	2,869
Net income, discontinued operations2)	5	-3	-4	-2	-643
Net income, total operations	92	2,515	238	2,671	2,226
Basic earnings per share (SEK)	1.18	37.34	3.15	39.67	33.06
Adjusted net income from continuing operations3)	266	148	497	305	957
Adjusted earnings per share from continuing operations (SEK)3)	3.41	2.20	6.58	4.53	14.21

1) The divestment of the NENT Studios UK content distribution business in June resulted in a capital loss of SEK -74m, which is reported within Items affecting comparability. The Q2 2020 IACs included a capital gain of SEK 2,383m arising from the combination of the Viasat Consumer and Canal Digital businesses. The Viasat Consumer business was consolidated until the beginning of May 2020, and contributed with sales of SEK 238m and operating income of SEK 33m in Q2 2020. Please see page 17 for details.

2) Discontinued operations comprise NENT Group's non-scripted, branded entertainment and events businesses. Splay One was divested in April and the sale of the remaining businesses is expected to be completed in Q3 or Q4 2021. Please see note 4 for details. This report refers to NENT Group's continuing operations unless otherwise indicated.

3) Adjusted net income and earnings per share from continuing operations exclude items affecting comparability and the amortisation of acquisition-related intangibles within NENT Group and Allente. Please see page 20 for details.

Alternative performance measures used in this report are explained and reconciled on pages 16-20.

President & CEO's comments

"The momentum that we have established continued into the second quarter of our fiveyear strategy period, and we are well on track to reach our goals. 21% Viaplay subscriber growth, 31% group organic revenue growth and 98% underlying profit growth further demonstrate the strength and potential of the business. This was the first quarter when Viaplay was our largest revenue generating unit, which is a major milestone in our transformation. The pace of our international expansion is now ramping up with the imminent launch in Poland, and we are raising our subscriber and investment targets for the year to reflect the strength of our content offering and the new partnerships that we are forging. Sustainability is at the very heart of what we do, and we are currently developing a new five-year strategy in dialogue with our stakeholders to govern our supply chains, protect privacy, promote diversity and limit our environmental impact."

Viaplay revenues (35% of sales) were up 36% YoY on an organic basis after 21% YoY subscriber growth. We added 113k Nordic subscribers and 27k international subscribers in the quarter to end the first half of the year with a total of 3,287k paying subscribers. The revenue growth also reflected the price adjustments made in the Spring. Total streamed minutes of viewing of our originals was up 82% YoY and our coverage of the European football championships also boosted subscriber intake in Denmark. We have increased our Viaplay originals ambition to at least 50 for the year, and several major sports rights will now come on stream after the summer. We are well on track to meet our year-end target of adding at least 400k new paying Nordic subscribers.

The launch of Viaplay in the three Baltic countries has gone according to plan. We have a healthy pipeline of subscribers on free trial periods, are introducing a number of attractive new B2B and D2C campaigns, and will soon add the UEFA leagues to our offering. We will launch Viaplay in Poland on 3 August and have a very strong content line-up, as well as several B2B distribution agreements ready to be rolled out. This has led us to double our original year-end international subscriber target to 500k. We have also increased our investments in the international Viaplay expansion and now expect an EBIT impact of approximately SEK -500m in 2021, of which we have incurred SEK -86m in H1. We will provide updates on our five-year plan at our Capital Markets Day in

September, including the impact of the newly acquired rights to English Premier League football for five more markets for six years from 2022.

Other subscription revenues (33% of sales) were up 30% YoY on an organic basis when excluding last year's contribution from the Viasat Consumer business. This reflected the growth in revenues from Allente in particular, as well as the low comp from last year.

Advertising revenues (31% of sales) were up 28% YoY on an organic basis, as advertising spending continued to recover from the lows in Q2 2020. We estimate that our overall Nordic TV and radio advertising market share was up, and demand levels continue to be high.

Revenues for the continuing studios businesses (2% of sales) were up 19% YoY on an organic basis, with the NENT Studios UK content distribution business having been sold in June. Our continuing businesses have seen higher external order and production volumes but are now primarily focused on producing content for Viaplay. We announced the sale of all of the remaining discontinued studios businesses earlier this month and expect to close this deal in Q3 or Q4.

Our EBIT before ACI and IAC was up 98% when excluding last year's contribution from the Viasat Consumer business but including our investments in the international expansion of Viaplay.

Our joint venture Allente is on track to deliver the SEK 650m of full run-rate cost synergies next year and is also working to upsell Viaplay to the rest of its subscriber base. The quarterly integration costs are now increasing as the planned programme accelerates, which is why we expect limited earnings contribution this year. We will now receive quarterly dividends from Allente from Q3 and expect the full year 2021 dividends to amount to at least SEK 400m.

We are moving ahead quickly with our expansion in the Nordics and internationally, as well as executing on new opportunities as they arise. We are investing in more and more original local content, as well as securing key acquired content for many years to come. In addition to the launches in the US and the Netherlands, we will announce additional international expansion markets at or before our CMD.

We are learning a lot through the pandemic and establishing flexible new ways of working that will serve us well as our offices gradually re-open. It has undoubtedly further accelerated consumer adoption of streaming services and we are, as always, totally focused on delivering the best customer experiences in the most sustainable way for all of our stakeholders.

Anders Jensen President & CEO

Sales

Group

Organic net sales were up 31% when excluding the contribution of the now deconsolidated Viasat Consumer business and changes in FX rates, which reflected the growth in the Viaplay, wholesale subscription and advertising businesses. Reported sales amounted to SEK 3,072m (2,624). Please see page 16 for a reconciliation of organic and reported sales growth.

Organic sales growth

Viaplay subscribers

By sales category

							Full year
(SEKm)	Q2 2021	Q2 2020	Change %	H1 2021	H1 2020	Change %	2020
Viaplay	1,076	798	34.7%	2,088	1,685	23.9%	3,625
Other subscription	1,009	1,033	-2.3%	2,038	2,628	-22.5%	4,657
Advertising	941	738	27.5%	1,799	1,573	14.4%	3,433
Studios & other	47	55	-15.4%	129	108	19.6%	289
Total	3,072	2,624	17.1%	6,054	5,994	1.0%	12,003

Viaplay was the largest quarterly revenue contributor for the first time and accounted for 35% of Group sales. Viaplay sales were up 36% on an organic basis and 35% on a reported basis, and included SEK 2m of sales from Viaplay international. The total subscriber base grew by 21% YoY to 3,287k. Viaplay added 140k paying subscribers QoQ, of which 113k were added in the Nordics and 27k in the Baltics. The Nordic subscriber growth was driven both by business-to-business sales, through Allente in particular, as well as direct-to-consumer sales, in Denmark in particular due to the coverage of the European football championships. The high sales growth in Q2 this year also reflected the decline in sales for the same period of 2020 due to the Coronavirus pandemic, as well as the price adjustments introduced in recent months. Viaplay continues to perform well in the Baltics, with a healthy pipeline of subscribers on free trial periods and new B2B and D2C campaigns to be launched in Q3. Viaplay will be launched in Poland on 3 August.

Other subscription sales accounted for 33% of Group sales and were up 30% on an organic basis when excluding changes in FX rates and the SEK 238m contribution from the deconsolidated Viasat Consumer business in Q2 2020. This underlying growth reflected the increase in wholesale subscription sales by Allente in particular. Sales were down 2% on a reported basis.

Advertising sales accounted for 31% of Group sales and were up 28% on an organic and reported basis. This reflected the YoY recovery from the major impact of the Coronavirus pandemic in the same period of 2020, as well as estimated average overall advertising market share gains. NENT Group's TV audience share was up in Denmark, stable in Norway and down in Sweden, with the TV advertising markets estimated to

have grown strongly in each market. NENT Group's radio audience share was up in Norway and stable in Sweden, with the radio advertising markets estimated to have grown strongly in both markets.

Studios and other sales accounted for 2% of Group sales and were up 19% on an organic basis and down 15% on a reported basis. This reflected higher demand and increased production levels, as well as the deconsolidation of the divested NENT Studios UK content distribution business from 1 June. The continuing businesses are primarily focused on the production of content for Viaplay.

Operating income

Operating expenditure was up 25% on an underlying basis when excluding the costs of the Viasat Consumer business that was deconsolidated from 1 May 2020 but including the costs for the international expansion of Viaplay in Q2 2021. Operating expenditure was up 14% on a reported basis to SEK 2,871m (2,511).

Operating income before ACI and IAC amounted to SEK 244m (156) and was up 98% on an underlying basis when excluding the SEK 33m contribution from the Viasat Consumer business in Q2 2020. The Q2 2021 result included the SEK -50m impact of the investments in the international expansion of Viaplay. Operating income before IAC amounted to SEK 253m (210) and included SEK 9m (54) of associated company income, which primarily comprised the Group's 50% share in the earnings of Allente. Please see note 3 regarding Allente's financial performance and position.

Items affecting comparability amounted to SEK -74m (2,383) and comprised the impact from the previously announced divestment of the NENT Studios UK content distribution business in June 2021. Please see page 17 for details regarding items affecting comparability. Total operating income amounted to SEK 179m (2,594).

Net financials and net income

Net financials

Net interest and other financial items totaled SEK -44m (-29). Net interest amounted to SEK -14m (-18), of which SEK -3m (-3) related to interest on net lease liabilities. Other financial items amounted to SEK -30m (-12) and mainly comprised financing arrangement fees and the impact of exchange rate effects on revaluations of financial items.

Net income

Tax charges amounted to SEK -48m (-47) and net income from continuing operations totaled SEK 87m (2,517). Net income from discontinued operations amounted to SEK 5m (-3) and comprised the income from the Studios businesses that are being divested. Total net income for the Group therefore amounted to SEK 92m (2,515), with total basic earnings per share of SEK 1.18 (37.34). Adjusted net income and earnings per share from continuing operations amounted to SEK 266m (148) and SEK 3.41 (2.20), respectively. Please see page 20 for details.

Cash flow and financial position

Cash flow from operations

Cash flow from operating activities, including discontinued operations, amounted to SEK 274m (147). Changes in working capital amounted to SEK 674m (673) and primarily reflected the seasonality of sports rights and other payments. The net operating cash flow for the quarter amounted to SEK 947m (820).

Cash flow from investing activities

Capital expenditure on tangible and intangible assets totalled SEK -51m (-34). Other investing activities totalled SEK 16m (11). Total cash flow related to investing activities amounted to SEK -4m (-241).

Cash flow from financing activities

Cash flow from financing activities amounted to SEK -143m (-320) with a SEK -50m (-280) net change in Group borrowings. The net change in cash and cash equivalents amounted to SEK 801m (259) and included discontinued operations.

Financial position

The Group's total net debt position, including discontinued operations, amounted to SEK -1,697m (4,189) at the end of the period and comprised financial net debt of SEK -2,160m (3,656), including cash and cash equivalents of SEK 5,420m (1,525), and net of lease liabilities and sublease receivables of SEK 463m (533). The net debt to trailing twelve month adjusted EBITDA ratio was -1.2x (2.6) at the end of the period.

Parent company

Nordic Entertainment Group AB is the Group's parent company and is responsible for Group-wide management, administration and financing.

Net sales for the Parent Company amounted to SEK 13m (18). Income before tax and appropriations amounted to SEK -31m (-17), and net income for the period amounted to SEK -26m (-14). The income statement and balance sheet for the Parent Company are presented on page 11.

Nordic Entertainment Group AB issued 10,600,000 new Class B shares in February 2021, raising gross proceeds of approximately SEK 4,346m, before transaction costs, to finance the international expansion of Viaplay and enhance the Group's future financial flexibility. Please see note 6 for a specification of the number of shares.

Sustainability

Sustainability is at the heart of all that NENT Group does and is a driving force of the Group's strategic development. The promotion of equality, diversity and inclusion, as well as the promotion of Nordic storytelling, have been the primary objectives of the sustainability strategy developed in 2018. NENT Group published its second integrated annual financial and sustainability report in April, which reported on these and other road map activities and ESG deliverables. A new 5 year sustainability strategy is now being developed and a broad-based stakeholder dialogue is underway to set the Group's updated priorities.

The global environmental crisis and the impact of the Coronavirus pandemic have brought the Group's environmental responsibilities into sharper focus and NENT Group will set science-based targets by the end of 2021, in order to help achieve the climate change objectives of the Paris agreement and become carbon neutral by 2023. NENT Group joined industry group DIMPACT during the quarter and also published its second report regarding the carbon impact of streaming. As part of its ongoing efforts, NENT Group is working to exercise greater control and oversight in its content supply chain, in order to protect talent, promote diversity, and decrease the environmental impact of productions. NENT Group is also working

constantly to ensure data privacy, conducting ESG assessments ahead of new market entrance, and encouraging compliance with its codes of conduct.

Other information

Significant events during and after the quarter

• 6 April NENT Group sells Splay One to Caybon
• 8 April NENT Group publishes Annual & Sustainability Report 2020
• 14 April NENT Group Nomination Committee proposal for Board of Directors
• 27 April NENT Group and Bundesliga agree historic two-cycle, nine-market deal until 2029
• 6 May NENT Group and Formula 1 enter exclusive rights partnership in Poland
• 7 May NENT Group and Matchroom Sport agree five-year partnership in nine countries
• 19 May NENT Group's 2021 Annual General Meeting
• 20 & 25 May NENT Group to launch Viaplay in the Netherlands with exclusive Formula 1®, Bundesliga and PDC Darts rights
• 3 June NENT Group secures top motorsport rights in nine European countries
• 11 June NENT Group's Viaplay to show South American football in nine countries
• 11 June NENT Group sells NENT Studios UK content distribution business to All3Media
• 2 July NENT Group agrees sale of 12 NENT Studios production labels to Fremantle
• 6 July NENT Group to launch Viaplay in Poland on 3 August
• 7 July NENT Group wins Premier League rights in the Netherlands, Poland, Estonia, Latvia and Lithuania from 2022 to 2028

A full list of announcements and reports can be found at www.nentgroup.com

Risks & uncertainties

Significant risks and uncertainties exist for the Group and the parent company. These factors include the prevailing economic and business environments in each of the Group's markets; commercial risks related to expansion into new territories; political and legislative risks related to changes in rules and regulations in the various territories in which the Group operates; exposure to foreign exchange rate movements; changes in the ability to access capital markets, and the emergence of new technologies and competitors. The increasing shift towards online entertainment consumption also makes the Group a potential target for cyber-attacks, intrusions, disruptions or denials of service. The Coronavirus pandemic continues to constitute a risk for NENT Group's people and operations. The vaccination programmes continue to ease the situation in the countries in which NENT Group operates but the vast majority of staff continue to work remotely with restricted access to office locations and a groupwide non-essential travel ban still in place. The Group continues to follow the guidance of governments and international health organisations in considering the potential reopening of its facilities. In the meantime, the Group's remote access, cloud computing and video conferencing facilities continue to work well and enable productivity and motivation to remain at high levels. NENT Group has received SEK 3m in support during the year within its discontinued operations.

5-year targets

While NENT Group does not provide formal regular financial performance targets or guidance, it did provide a series of 5 year operational and financial targets at its Capital Markets Day on 10 November 2020:

• 1) Compound organic sales growth for the Group's total operations of approximately 18-20% between 2020 and 2025 (based on 2020 Group revenues excluding the contribution from the subsequently deconsolidated Viasat Consumer business)
• 2) Compound organic sales growth for the Group's Nordic operations of approximately 13-15% between 2020 and 2025 (based on 2020 Group revenues excluding the contribution from the subsequently deconsolidated Viasat Consumer business)
• 3) To grow the Viaplay Nordic paying subscriber base to approximately 6 million by the end of 2025, and to grow the Viaplay international paying subscriber base to approximately 4.5 million by the end of 2025
• 4) An operating income (EBIT) margin before ACI and IAC for the Group's Nordic operations of approximately 15% for the full year 2025
• 5) A positive operating income (EBIT) result for the Group's Viaplay International operations for the full year 2025
• 6) A balance sheet leverage ratio of less than 2.5x net debt to trailing twelve month adjusted EBITDA, although NENT Group's leverage may exceed these levels temporarily from time to time

In light of the Group's ongoing expansion, the annual ordinary cash dividend policy has been suspended. The Board will continue to consider various means of distributing surplus funds to shareholders from time to time and as circumstances allow.

Board's assurance

The Board of Directors and the Chief Executive Officer certify that this interim report provides a true and fair overview of the Group and parent company's operations, performance and financial positions for the period, and describes the material risks and uncertainties facing the Group companies and parent company.

Stockholm, 21 July 2021

Pernille Erenbjerg Simon Duffy Natalie Tydeman Chair of the Board Non-Executive Director Non-Executive Director

Anders Borg Kristina Schauman Andrew House Non-Executive Director Non-Executive Director Non-Executive Director

Anders Jensen President & CEO

This report has not been reviewed by the Group's auditors.

Consolidated income statement

	Q2	Q2	H1	H1	Full year
(SEKm)	2021	2020	2021	2020	2020
Continuing operations
Net sales	3,072	2,624	6,054	5,994	12,003
Cost of sales	-2,220	-1,903	-4,418	-4,399	-8,815
Gross income	851	721	1,635	1,596	3,188
Selling and marketing expenses	-235	-201	-463	-436	-821
General and administrative expenses	-416	-407	-804	-823	-1,541
Other operating income and expenses	43	44	38	40	151
Share of earnings in associated companies and joint ventures	9	54	57	54	100
Items affecting comparability	-74	2,383	-74	2,383	2,109
Operating income	179	2,594	390	2,813	3,186
Interest income	2	1	2	2	3
Interest expenses	-14	-15	-27	-25	-60
Net leasing interest	-3	-3	-6	-7	-13
Other financial items	-30	-12	-36	-14	-30
Income before tax	135	2,565	322	2,769	3,087
Tax expenses	-48	-47	-80	-96	-218
Net income for the period, continuing operations	87	2,517	242	2,673	2,869
Net income for the period, discontinued operations	5	-3	-4	-2	-643
Net income for the period	92	2,515	238	2,671	2,226
Items that are or may be reclassified to profit or loss net of tax
Currency translation differences	-64	-80	91	-95	-161
Cash flow hedge	-31	-125	178	-75	-311
Other comprehensive income for the period	-95	-207	269	-172	-472
Total comprehensive income for the period	-3	2,308	507	2,499	1,754
Net income for the period attributable to:
Equity holders of the parent company	92	2,518	238	2,677	2,236
Non-controlling interest	-	-4	-	-6	-9
Total comprehensive income for the period attributable to:
Equity holders of the parent company	-3	2,312	507	2,505	1,763
Non-controlling interest	-	-4	-	-6	-9
Earnings per share
Basic earnings per share (SEK), continuing operations	1.12	37.38	3.21	39.69	42.60
Diluted earnings per share (SEK), continuing operations	1.11	37.20	3.19	39.50	42.40
Basic earnings per share (SEK)	1.18	37.34	3.15	39.67	33.06
Diluted earnings per share (SEK)	1.18	37.16	3.14	39.47	32.90
Number of shares
Shares outstanding at the end of the period	77,947,526	67,347,526	77,947,526	67,347,526	67,347,526
Basic average number of shares outstanding	77,947,526	67,343,579	75,487,857	67,342,912	67,345,231
Diluted average number of shares outstanding	78,251,262	67,675,404	75,791,593	67,675,275	67,664,386

Consolidated balance sheet (condensed)

	30 Jun	30 Jun	31 Dec
(SEKm)	2021	2020	2020
Non-current assets
Intangible assets	1,998	2,238	1,998
Machinery, equipment and installations	131	132	96
Right-of-use assets	330	383	360
Shares and participations	1,577	2,868	1,720
Sublease receivables	146	167	150
Other long-term receivables	147	133	176
Total non-current assets	4,329	5,922	4,501
Current assets
Inventories	3,009	2,853	2,614
Accounts receivable	899	897	789
Sublease receivables	32	31	30
Prepaid expense and accrued income	4,238	3,910	3,998
Other current receivables	426	517	682
Cash, cash equivalents and short-term investments	5,415	1,493	2,036
Assets held for sale1)	846	1,564	1,299
Total current assets	14,866	11,267	11,449
Total assets	19,194	17,189	15,949
Equity
Equity	8,058	3,949	3,236
Non-controlling interest	1	2	1
Total equity	8,059	3,951	3,237
Non-current liabilities
Long-term borrowings	2,500	2,600	3,300
Long-term lease liabilities	431	503	462
Long-term provisions	142	175	137
Other non-current liabilities	256	291	360
Total non-current liabilities	3,329	3,569	4,259
Current liabilities
Short-term borrowings	800	2,580	1,260
Short-term lease liabilities	107	105	104
Short-term provisions	209	173	185
Other current liabilities	6,245	6,326	6,124
Liabilities related to assets held for sale1)	446	485	781
Total current liabilities	7,806	9,669	8,454
Total liabilities	11,135	13,238	12,713
Total shareholders' equity and liabilities	19,194	17,189	15,949

1) Assets held for sale June 2020 refers to the non-scripted production, branded entertainment and events business as well as NENT Studio UK in December 2020. Splay One and NENT Studio UK have been divested and June 2021 include the remaining studio businesses.

Consolidated statement of cash flow

	Q2	Q2	H1	H1	Full year
(SEKm)	2021	2020	2021	2020	2020
Cash flow from operations
Net income, continuing operations	87	2,517	242	2,673	2,869
Net income, discontinued operations	5	-3	-4	-2	-643
Dividends from associated companies	-	-	250	-	1,200
Depreciations, amortisations and write-downs	77	79	153	159	1,202
Other adjustments for non-cash items	104	-2,446	69	-2,436	-2,428
Cash flow from operations, excluding changes in working capital	274	147	710	394	2,200
Changes in working capital	674	673	-222	-121	-674
Cash flow from operations	947	820	488	273	1,526
Investing activities
Divestments of operations	31	-218	31	-218	-222
Capital expenditures in tangible and intangible assets	-51	-34	-109	-71	-147
Other investing activities	16	11	5	-6	2
Cash flow from investing activities	-4	-241	-72	-295	-367
Financing activities
Change in long-term borrowings	-800	800	-800	800	1,500
Change in short-term borrowings	750	-1,080	-460	-400	-1,720
Amortisation of lease receivables	8	9	16	17	32
Amortisation of lease liabilities	-32	-46	-58	-70	-135
Share issue	-9	-	4,292	-	-
Other cash flow from financing activities	-60	-2	-47	10	22
Cash flow from financing activities	-143	-320	2,942	357	-301
Total net change in cash and cash equivalents for the period	801	259	3,358	335	858
Cash and cash equivalents at the beginning of the period	4,629	1,267	2,040	1,238	1,238
Translation differences in cash and cash equivalents	-9	-3	22	-49	-56
Cash and cash equivalents at end of the period	5,420	1,525	5,420	1,525	2,040
Whereof cash and cash equivalents included in assets held for sale	5	31	5	31	4
Cash and cash equivalents at end of the period	5,415	1,493	5,415	1,493	2,036

Consolidated statement of changes in equity (condensed)

	Q2	Q2	H1	H1	Full year
(SEKm)	2021	2020	2021	2020	2020
Opening balance	8,061	1,638	3,237	1,442	1,442
Net income for the period	92	2,515	238	2,671	2,226
Other comprehensive income for the period	-95	-207	269	-172	-472
Total comprehensive income for the period	-3	2,308	507	2,499	1,754
Share issue	-	-	4,346	-	-
Share issue transaction costs, net of tax	-7	-	-43	-	-
Effect of share based programmes	7	5	12	10	21
Change in non-controlling interests	-	-	-	-	3
Dividends to non-controlling interests	-	-	-	-	-1
Transactions with shareholders in associated companies	-	-	-	-	18
Closing balance	8,059	3,951	8,059	3,951	3,237

Parent company income statement (condensed)

	Q2	Q2	H1	H1	Full year
(SEKm)	2021	2020	2021	2020	2020
Net sales	13	18	27	27	55
Gross income	13	18	27	27	55
Administrative expenses	-58	-57	-115	-106	-190
Other operating income	-	1	-	1	3
Items affecting comparability	-	-	-	-	-10
Operating income	-45	-38	-88	-78	-141
Net interest and other financial items	14	21	21	46	77
Income before tax and appropriations	-31	-17	-67	-32	-64
Group contribution	-	-	-	-	364
Income before tax	-31	-17	-67	-32	301
Tax expenses	5	4	12	7	-46
Net income for the period	-26	-14	-55	-25	255
Other comprehensive income	-	-	-	-	-2
Total comprehensive income for the period	-26	-14	-55	-25	253

Parent company balance sheet (condensed)

	30 Jun	30 Jun	31 Dec
(SEKm)	2021	2020	2020
Non-current assets
Financial assets	131	117	123
Total non-current assets	131	117	123
Current assets
Receivables from group companies	7,963	8,460	8,402
Other current receivables	540	105	508
Cash and cash equivalents	5,005	1,380	1,939
Total current assets	13,509	9,945	10,849
Total assets	13,640	10,061	10,972
Shareholders' equity
Restricted equity	157	135	136
Non-restricted equity	6,271	1,724	2,032
Total equity	6,428	1,859	2,168
Non-current liabilities
Long-term borrowings	2,500	2,600	3,300
Other non-current liabilities	4	5	7
Total non-current liabilities	2,504	2,605	3,307
Current liabilities
Short-term borrowings	800	2,580	1,260
Liabilities to group companies	3,608	2,748	3,561
Other current liabilities	300	268	677
Total current liabilities	4,708	5,597	5,498
Total shareholders' equity and liabilities	13,640	10,061	10,972

	Q3	Q4	FY	Q1	Q2	Q3	Q4	FY	Q1	Q2
(SEKm)	2019	2019	2019	2020	2020	2020	2020	2020	2021	2021
Net sales	3,383	3,825	14,204	3,370	2,624	2,828	3,182	12,003	2,982	3,072
of which Viaplay -	814	885	3,323	887	798	957	983	3,625	1,012	1,076
of which Other subscription -	1,586	1,642	6,367	1,595	1,033	1,030	999	4,657	1,029	1,009
of which Advertising -	836	1,160	4,006	835	738	762	1,097	3,433	859	941
of which Studios & other -	147	139	507	53	55	78	103	289	82	47
Operating income before ACI and IAC	265	460	1,441	219	156	176	426	978	163	244
Associated company income (ACI)	-	2	5	-	54	80	-35	100	47	9
Operating income before IAC	265	462	1,445	219	210	256	392	1,077	210	253
Items affecting comparability (IAC)	-	-699	-755	-	2,383	-	-275	2,109	-	-74
Operating income	265	-237	690	219	2,594	256	117	3,186	210	179
Net income, total operations	233	-159	590	157	2,515	188	-633	2,226	145	92
Basic earnings per share (SEK)	3.46	-2.36	8.77	2.33	37.34	2.79	-9.40	33.06	1.99	1.18
Adjusted net income from continuing operations	206	389	1,145	158	148	219	432	957	231	266
Adjusted earnings per share from continuing operations (SEK)	3.06	5.78	17.02	2.35	2.20	3.25	6.41	14.21	3.16	3.41
Sales growth	10.5%	5.3%	7.6%	-1.7%	-26.4%	-16.4%	-16.8%	-15.5%	-11.5%	17.1%
Organic growth	9.5%	4.2%	6.1%	-1.8%	-12.6%	10.4%	6.1%	0.1%	15.9%	31.3%
Operating margin before ACI and IAC	7.8%	12.0%	10.1%	6.5%	6.0%	6.2%	13.4%	8.1%	5.5%	7.9%
Operating margin	7.8%	-6.2%	4.9%	6.5%	98.9%	9.1%	3.7%	26.5%	7.1%	5.8%
Net debt	4,756	4,139	4,139	4,754	4,189	3,865	3,026	3,026	-777	-1,697
Net debt/EBITDA 12 months trailing ROCE	2.5 27.3%	2.2 27.1%	2.2 27.1%	2.6 25.1%	2.6 19.4%	2.5 17.2%	2.2 15.5%	2.2 15.5%	-0.6 14.5%	-1.2 15.3%
CSOV Sweden (25-59) %	23.3	23.0	23.0	23.2	22.4	22.6	21.6	22.5	22.5	21.3
CSOV Norway (25-59) %	15.6	16.1	15.7	17.3	15.3	12.9	16.9	15.8	15.3	15.3
CSOV Denmark (25-59) %	20.9	22.7	21.3	19.0	19.9	21.7	20.3	20.2	17.8	22.7
CSOL Sweden (12-79) %	47.6	42.3	45.1	39.4	39.3	44.6	39.4	40.7	39.0	39.2
CSOL Norway (12+) %	69.1	64.7	66.0	66.1	66.7	66.4	66.5	66.4	67.0	67.4
Viaplay subscriber base ('000s)	2,151	2,272	-	2,510	2,716	2,813	3,020	-	3,147	3,287
of which Nordic subscribers ('000s) - of which International subscribers ('000s) -	2,151	2,272	-	2,510	2,716	2,813	3,020	-	3,147	3,260 27

Notes

Note 1 - Accounting policies

This Interim report has been prepared according to 'IAS 34 Interim Financial Reporting' and 'The Annual Accounts Act'. The interim report for the parent company has been prepared according to the Annual Accounts Act - Chapter 9 'Interim Report'.

The Group's financial accounts and the parent company accounts have been prepared according to the same accounting policies and calculation methods as were applied in the preparation of the 2020 Annual Report.

The IFRS Interpretations Committee (IFRS IC) published an agenda decision in April 2021 on "cloud computing arrangement costs", i.e. costs for configurations or adaptation of software in a cloud-based solution. NENT Group is currently reviewing the effects of this decision, which could result in a reclassification of a previously recorded intangible asset to be reclassified to a different type of asset or recharged to the income statement.

	Q2	Q2	H1	H1	Full year
(SEKm)	2021	2020	2021	2020	2020
REVENUE STREAMS
Advertising	941	738	1,799	1,573	3,433
Subscription	1,936	1,679	3,807	3,942	7,575
Production	39	14	83	43	153
Licenses, royalities and other	156	194	364	436	843
Total	3,072	2,624	6,054	5,994	12,003
REVENUE RECOGNITION
at a point in time	156	194	364	436	843
over time	2,916	2,430	5,690	5,558	11,160
Total	3,072	2,624	6,054	5,994	12,003

Note 2 – Disaggregation of revenues

Note 3 – Income from associated company Allente

Allente's revenues for Q2 amounted to SEK 1,741m. The subscriber base declined by 20k QoQ and ended the period at 1,089k. EBITDA before IAC amounted to SEK 339m, and operating income of SEK 52m included SEK 178m of integration costs that were reported as items affecting comparability. Amortisation for the period amounted to SEK 110m, of which SEK 84m was PPA-related.

NENT Group's 50% share of Allente's Q2 net income of SEK 19m amounted to SEK 9m. Allente's net debt amounted to SEK 1,562m at the end of the period.

		Q2 Q2 (May-Jun)	H1	H1 (May-Jun)	May-Dec
(SEKm)	2021	2020	2021	2020	2020
Net sales	1,741	1,127	3,432	1,127	4,595
EBITDA before IAC	339	166	677	166	808
Depreciation and amortisation	-110	-14	-219	-14	-351
Operating income before IAC	230	152	458	152	458
Items affecting comparability (IAC)	-178	-31	-285	-31	-202
Operating income	52	121	173	121	256
Financial items	-29	8	-24	8	-4
Tax	-4	-27	-31	-27	-54
Net income	19	102	119	102	198
NENT Group 50% share of net income	9	51	59	51	99
Net debt	1,562	-751	1,562	-751	1,301
Total subscribers (thousand)	1,089	1,179	1,089	1,179	1,133

Note 4 - Discontinued operations

On 20 April 2020, NENT Group announced that the process to sell the non-scripted production, branded entertainment and events business had recommenced. The businesses have been part of the Studios segment and, as of Q2 2020, reported as assets held for sale and discontinued operations. The net income from the operations is reported in a separate line in the income statement, and historical figures have been restated accordingly. The assets and liabilities related to the operations are reported on separate lines in the consolidated balance sheet. Splay One was divested on 6 April 2021 and deconsolidated with effect from 1 April 2021. NENT Group then announced on 2 July 2021 that it had agreed the sale of the remaining discontinued NENT Studios businesses. The transaction, which is subject to customary closing conditions and regulatory approvals, is expected to be completed in Q3 or Q4 this year.

	Q2	Q2	H1	H1	Full year
(SEKm)	2021	2020	2021	2020	2020
External sales	232	204	466	491	1,108
Internal sales	23	29	53	51	135
Cost of sales	-208	-176	-419	-423	-1,018
Selling, Technology and administration expenses	-36	-55	-98	-119	-244
Items affecting comparability	-5	-	-5	-	-620
Other income and expenses	2	2	3	3	7
Operating income	8	4	0	3	-632
Financial net & Tax	-2	-6	-4	-5	-11
Net income, discontinued operations	5	-3	-4	-2	-643

Note 5 - Sale of subsidiaries

NENT Group divested Splay One to Caybon on 6 April 2021, and divested the NENT Studios UK content distribution business to All3Media on 11 June 2021. The divestments resulted in a capital loss amounting to SEK -79m, of which SEK -5m relates to Splay One and is reported within discontinued operations.

Note 6 – Number of shares

Nordic Entertainment Group AB issued 10,600,000 new Class B shares in February 2021. This resulted in a 15.6% increase in the total number of issued and outstanding shares from 67,842,244 to 78,442,244.

Parent company	Class A shares	Class B shares	Class C shares	Total
Number of shares as at 31 December 2020	532,572	66,839,153	470,519	67,842,244
Share issue	-	10,600,000	-	10,600,000
Number of shares as at 30 June 2021	532,572	77,439,153	470,519	78,442,244
Treasury shares		-24,199	-470,519	-494,718
Number of shares excl treasury shares as at 30 June 2021	532,572	77,414,954	0	77,947,526

Note 7 – Related party transactions

The Group has related party relationships with its subsidiaries, associated companies and joint ventures. All related party transactions are based on market terms and negotiated on an arm's length basis.

The purpose of Alternative Performance Measures (APMs) is to facilitate the analysis of business performance and industry trends that cannot be directly derived from financial statements. NENT Group is using the following Alternative Performance Measures:

• Change in net sales from Organic growth, Acquisitions/divestments and Changes in FX rates
• Operating income before associated company income (ACI) and items affecting comparability (IAC)
• Operating income before IAC
• Net debt and Net debt/EBITDA
• Capital Employed and Return on Capital Employed (ROCE)
• Adjusted net income and earnings per share

Reconciliation of sales growth

Since the Group generates the majority of its sales in currencies other than in the reporting currency (i.e. SEK, Swedish Krona) and currency rates have proven to be rather volatile, and due to the fact that the Group has historically made several acquisitions and divestments, the Company's sales trends and performance are analysed as changes in organic sales growth. This presents the increase or decrease in the overall SEK net sales on a comparable basis, allowing separate discussion of the impact of acquisitions/divestments and exchange rates.

Q2 (SEKm)	Reported Net sales	Acquisitions / divestments	Net sales adjusted for acquisitions / divestments	Changes in FX rates	Net Sales adjusted for acquisitions/ divestments and changes in FX rates
	3,072		3,072	43	3,115
2020	2,624	-252	2,372		2,372
Growth	448				743
Growth %	17,1%		29,5%		31,3%
2021			700

		Acquisitions /	Net sales adjusted for acquisitions /	Changes in	Net Sales adjusted for acquisitions/ divestments and
H1 (SEKm)	Reported Net sales	divestments	divestments	FX rates	changes in FX rates
2021	6,054		6,054	128	6,182
2020	5,994	-975	5,019		5,019
Growth	60		1,035		1,163
Growth %	1,0%		20,6%		23,2%

Organic growth, i.e. sales growth adjusted for acquisitions/divestments and changes in FX rates, amounted to 31% in Q2 2021 and 23% in H1 2021.

Reconciliation of operating income before associated company income (ACI) and items affecting comparability (IAC)

Operating income before associated company income (ACI) and items affecting comparability (IAC) refers to operating income after the reversal of material items and events related to changes in the Group's structure or lines of business, which are relevant for understanding the Group's development on a like-forlike basis. This measure is used by management to follow and analyse the underlying profits and to offer more comparable figures between periods.

Operating income before IAC and associated companies income

	Q2	Q2	H1	H1	Full year
(SEKm)	2021	2020	2021	2020	2020
Operating income	179	2,594	390	2,813	3,186
Items affecting comparability (IAC)	-74	2,383	-74	2,383	2,109
Operating income before IAC	253	210	463	429	1,077
Associated company income (ACI)	9	54	57	54	100
Operating income before ACI and IAC	244	156	407	375	978

Items affecting comparability

	Q2	Q2	H1	H1	Full year
(SEKm)	2021	2020	2021	2020	2020
Capital loss from divestment of NENT Studio UK	-74	-	-74	-	-
Write down of Studio assets	-	-	-	-	-268
Capital gain as a result of VCB merger transaction	-	2,383	-	2,383	2,383
Transaction and advisory costs	-	-	-	-	-8
Total	-74	2,383	-74	2,383	2,109

Items affecting comparability classified by function

	Q2	Q2	H1	H1	Full year
(SEKm)	2021	2020	2021	2020	2020
Cost of sales	-	-	-	-	-268
Administrative expenses	-	-	-	-	-8
Other operating income/expenses	-74	2,383	-74	2,383	2,383
Total	-74	2,383	-74	2,383	2,109

Reconciliation of net debt/EBITDA ratio

Net debt refers to the sum of interest-bearing liabilities less total cash and interest-bearing assets. Net debt also includes lease liabilities net of sublease receivables and dividends payable. Net debt is used by Group management to track the indebtedness of the Group and to analyse the leverage and refinancing needs of the Group. The net debt to EBITDA ratio provides a KPI for net debt in relation to cash profits generated by the business, i.e. an indication of a business' ability to pay its debts. This measure is commonly used by financial institutions to rate creditworthiness. A negative figure indicates that the Group has a net cash position (cash in excess of interest-bearing liabilities).

Net debt

	30	31	31	30	30	31	31	30
	Sep	Dec	Mar	Jun	Sep	Dec	Mar	Jun
(SEKm)	2019	2019	2020	2020	2020	2020	2021	2021
Short-term borrowings	2,510	2,980	3,660	2,580	1,980	1,260	50	800
Long-term borrowings	2,300	1,800	1,800	2,600	3,300	3,300	3,300	2,500
Total financial borrowings	4,810	4,780	5,460	5,180	5,280	4,560	3,350	3,300
Interest bearing receivables								40
Cash and cash equivalents	889	1,238	1,267	1,493	1,912	2,036	4,604	5,415
Cash and cash equivalents included in assets held for sale	-	-	-	31	24	4	26	5
Financial net debt	3,921	3,542	4,193	3,656	3,344	2,520	-1,280	-2,160
Lease liabilities	845	823	783	608	597	566	569	539
Lease liabilities included in liabilities related to assets held for sale	-	-	-	124	118	120	122	102
Sublease receivables	228	225	223	199	194	181	188	178
Total lease liabilities net	617	598	560	533	521	505	504	463
Dividend payable	219	-	-	-	-	-	-	-
Net debt	4,756	4,139	4,754	4,189	3,865	3,026	-777	-1,697

Net debt/EBITDA before IAC

	Q3	Q4	Q1	Q2	Q3	Q4	Q1	Q2
(SEKm)	2019	2019	2020	2020	2020	2020	2021	2021
Operating income before IAC, continuing operations	1,498	1,445	1,380	1,157	1,148	1,077	1,069	1,111
Operating income before IAC, discontinued operations	48	100	109	91	44	-12	-20	-10
Depreciation, amortisation and write-downs, continuing operations1)	293	286	287	284	277	267	264	264
Depreciation, amortisation and write-downs, discontinued operations1)	37	50	49	49	49	48	47	44
EBITDA 12 months trailing	1,875	1,881	1,826	1,581	1,518	1,379	1,359	1,409
Net debt	4,756	4,139	4,754	4,189	3,865	3,026	-777	-1,697
Total net debt / EBITDA 12 months trailing	2.5	2.2	2.6	2.6	2.5	2.2	-0.6	-1.2

1) Refers to non-current assets only

Reconciliation of Return on Capital Employed (ROCE)

Return on capital employed is a performance measure for operating income before items affecting comparability in relation to the capital employed within the operations. Operating income before items affecting comparability is the main profit metric that operations are responsible for, and is measured before interest and taxes. Capital employed is the sum of current and non-current assets less current and non-current liabilities, provisions and liabilities at fair value. All items are non-interest-bearing. Capital employed equals the sum of equity and net debt.

Return on Capital Employed (ROCE)

	Q3	Q4	Q1	Q2	Q3	Q4	Q1	Q2
(SEKm)	2019	2019	2020	2020	2020	2020	2021	2021
Inventory	2,877	2,551	2,857	2,853	2,708	2,614	2,900	3,009
Accounts receivables	1,243	1,112	981	897	970	789	947	899
Prepaid expense and accrued income	4,477	4,609	3,918	3,910	4,053	3,998	4,076	4,238
Other current assets	909	532	920	517	462	682	290	406
Other current liabilities	-6,874	-6,923	-5,885	-6,326	-6,575	-6,124	-5,155	-6,245
Total working capital	2,633	1,882	2,791	1,853	1,617	1,959	3,057	2,307
Intangibles assets	3,424	3,384	3,304	2,238	2,257	1,998	2,031	1,998
Machinery, equipment and installations	163	165	155	132	90	96	120	131
Right-of-use assets	588	566	527	383	375	360	350	330
Shares and participations	147	142	163	2,868	2,948	1,720	1,599	1,577
Other long-term receivables	178	171	191	133	162	176	133	127
Capital employed held for sale	-	-	-46	1,172	1,154	635	614	498
Provisions	-284	-414	-358	-348	-349	-322	-339	-351
Other non-current liabilities	-357	-316	-336	-291	-306	-360	-280	-256
Other items included in the capital employed	3,859	3,699	3,600	6,288	6,330	4,304	4,227	4,054
Capital employed	6,492	5,581	6,391	8,140	7,947	6,263	7,284	6,361
Operating income before IAC 12 months trailing, continuing
operations	1,498	1,445	1,380	1,157	1,148	1,077	1,069	1,111
Operating income before IAC 12 months trailing, discontinued	48	100	109	91	44	-12	-20	-10
operations Operating income before IAC 12 months trailing, total	1,547	1,545	1,490	1,248	1,192	1,065	1,049	1,101
Average Capital Employed (5 quarters)	5,638	5,700	5,944	6,434	6,910	6,864	7,205	7,199
ROCE %	27.3%	27.1%	25.1%	19.4%	17.2%	15.5%	14.5%	15.3%
Assets held for sale	-	-	855	1,564	1,615	1,299	1,352	846
Cash and cash equivalents included in assets held for sale	-	-	-	-31	-24	-4	-26	-5
Liabilities related to assets held for sale	-	-	-901	-485	-555	-781	-834	-446
Lease liability, included in liabilities related to assets held for sale	-	-	-	124	118	120	122	102

Adjusted net income from continuing operations

Adjusted net income and earnings per share are the Group's net income and EPS from continuing operations when excluding items affecting comparability and the amortisation of acquisition-related intangible assets, net of tax, for both NENT Group and its 50% share in the earnings of Allente. These performance measures provide a relevant metric to better understand the Group's underlying results and development. Please see note 3 for more information on Allente's performance and page 17 regarding NENT Group's items affecting comparability.

Adjusted net income

	Q2	Q2	H1	H1	Full year
(SEKm)	2021	2020	2021	2020	2020
Net income, continuing operations	87	2,517	242	2,673	2,869
Adjustment items	179	-2,369	255	-2,368	-1,912
Adjusted net income from continuing operations	266	148	497	305	957
Basic average number of shares outstanding	77,947,526	67,343,579	75,487,857	67,342,912	67,345,231
Adjusted earnings per share from continuing operations (SEK)	3.41	2.20	6.58	4.53	14.21
Adjustment items
NENT Group
IAC	-74	2,383	-74	2,383	2,109
Tax effect on IAC	-	-	-	-	1
Amortisations of surplus value (PPA)	-2	-2	-4	-4	-8
Tax effect on amortisations of surplus value (PPA)	0	0	1	1	2
Allente
IAC	-89	-16	-143	-16	-101
Tax effect on IAC	19	3	30	3	22
Amortisations of surplus value (PPA)	-42	-	-83	-	-145
Tax effect on amortisations of surplus value (PPA)	9	-	18	-	32
Adjustment items	-179	2,369	-255	2,368	1,912

Definitions

Capital employed

Capital employed is the sum of current and non-current assets less current and non-current liabilities, provisions and liabilities at fair value. All items are non-interest-bearing.

Commercial Share of Listening (CSOL)

CSOL comprises NENT Group's estimated share of commercial radio listening amongst 12+ year olds in Norway and 12-79 year olds in Sweden.

Commercial Share of Viewing (CSOV)

CSOV comprises NENT Group's estimated share of commercial TV viewing amongst 25-59 year olds.

Earnings per share

Earnings per share is expressed as net income attributable to equity holders of the parent divided by the average number of shares outstanding.

EBITDA

EBITDA is Earnings Before Interest, Taxes, Depreciation and Amortisation.

Items Affecting Comparability

Items Affecting Comparability refer to material items and events related to changes in the Group's structure or lines of business, which are relevant for understanding the Group's development on a like-forlike basis.

Net debt

Net debt is the sum of short and long-term interest-bearing liabilities less total cash and interest-bearing assets. Net debt also includes lease liabilities net of sublease receivables and dividends payable. A negative figure indicates that the Group has a net cash position (cash in excess of interest-bearing liabilities).

Operating expenditure

Operating expenditure comprises of Cost of sales, Selling and marketing expenses and Administrative expenses.

Operating income

Operating income comprises results before interest and taxes, otherwise known as EBIT (Earnings Before Interest and Taxes).

Organic growth

Organic growth is the change in net sales compared to the same period of the previous year excluding acquisitions and divestments and adjusted for currency translation and transaction effects.

Return On Capital Employed (ROCE) %

Return on capital employed is calculated as operating income as a percentage of average capital employed.

Viaplay subscribers

A Viaplay subscriber is defined as a customer who has access to Viaplay and for whom a method of payment has been provided. NENT Group only reports paid-for subscriptions where a payment has been received directly from the end-customer or from a partner organisation.

Shareholder information

2021 Annual General Meeting

The AGM resolved to re-elect Board members Anders Borg, Simon Duffy, Pernille Erenbjerg, Kristina Schauman and Natalie Tydeman and to elect Andrew House as a new member of the Board. The AGM also elected Pernille Erenbjerg as the new Chair of the Board.

The AGM resolved to implement a long-term incentive plan for 2021, and that NENT Group enter into a swap agreement with a third party to hedge the long-term incentive plan by acquiring and transferring NENT Group Class B shares to the plan participants. The AGM also resolved to re-elect KPMG as auditor until the end of the 2022 AGM, and Tomas Gerhardsson has been appointed as new auditor-in-charge.

The AGM approved the remuneration to the Board and auditor, in accordance with the Nomination Committee's proposal, and resolved to adopt new updated guidelines for the remuneration of the senior executives, in accordance with the Board's proposal.

The AGM resolved to authorise the Board to resolve on repurchases of no more than 10%, at any time, of all shares issued by NENT Group, and to amend NENT Group's Articles of Association to reflect formal requirements pursuant to the Swedish Companies Act.

Financial calendar

Publication of Q3 interim report 26 October 2021 Publication of Full year report 8 February 2022

Questions?

press@nentgroup.com (or Roberta Alenius, Head of Corporate Communications: +46 70 270 72 17) investors@nentgroup.com (or Matthew Hooper, Chief Corporate Affairs Officer: +44 7768 440 414)

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Teleconference and webcast

A teleconference and webcast will be held at 09.00 Stockholm local time, 08.00 London local time and 03.00 New York local time. The webcast will be streamed via the following link: https://edge.media-server.com/mmc/p/e9x7gopo

To participate in the conference call, please dial:

Sweden:	+46 (0) 8 566 184 67
UK:	+44 (0) 2071 928 338
US:	+1 646 741 3167

The access code for the call is 8549677.

Please note that only dial-in participants will be able to ask questions.

+46 (0)8 562 023 00

nentgroup.com

investors@nentgroup.com

Nordic Entertainment Group AB (publ) (NENT Group)'s Viaplay streaming service is available in every Nordic country and in Estonia, Latvia and Lithuania. Viaplay will launch in Poland and the US in 2021 and the Netherlands in 2022, followed by four additional markets by the end of 2023. We operate streaming services, TV channels, radio stations and production companies, and our purpose is to tell stories, touch lives and expand worlds. Headquartered in Stockholm and with a global outlook, NENT Group is listed on Nasdaq Stockholm (NENT A' andNENT B'). This information is information that Nordic Entertainment Group AB (publ) (NENT Group) is obliged to make public pursuant to the EU Market Abuse Regulation and the Swedish Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 07:30 CET on 22 July 2021.