Ströer SE & Co. KGaA

Investor Presentation • Sep 2, 2022

dbAccess European TMT Conference 2022

September 2nd, 2022 | Ströer SE & Co. KGaA

Agenda

Group Update

Financials

Outlook

Results 6M 2022

€ m		6 M 2 0 2 1	6 M 2 0 2 2	▲
R e v e n u e s	R d h t t e p o r e g r o w	6 8 9 5	8 1 0 0	1 8 % +
	( 1 ) O i h t r g a n c g r o w	9 2 % +	1 8 4 % +	9 2 % t + p s
E B I T D A ( d j d ) t a u s e		1 8 0 2	2 2 0 3	2 2 % +
E B I T ( d j d ) t a u s e		4 7 7	8 6 7	8 % 4 +
( ) 2 ( ) N t i d j t d e n c o m e a s e u		2 7 1	5 8 0	% 1 0 0 > +
O C t i h F l p e r a n g a s o w		1 2 0 2	1 4 9 9	2 5 % +
C a p e x		3 7 6	6 6 3	7 6 % +

Note: New organic growth calculation with 12 months delayed recognition of acquisitions (applied from fiscal year 2022)

(1)Excluding exchange rate effects and effects from (de)consolidation and discontinuation of operations

(2)Adjusted for exceptional items and additional other reconciling factors in D&A (PPA related amortization and impairment losses), in financial result and in income taxes

Diversified OoH Business across Sales Channels and Industries Heterogeneous client structure makes OoHbusiness highly resilient*

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Key Takeaways from H1

• 1. Local business completely unimpressed from uncertainty and inflation
• 1. Unchanged momentum for DOoH (i.e. driven by flexibility & digital integration)
• 1. July & August orderbook: mid to high single digit growth against very strong PY summer
• 1. "Normal" orderbook status for September to December fueled by diversified customer base

Source: Ströer Data, * Averg. OOH Germany 2019 - 2021

Accelerated Digitization of Out-of-Home Infrastructure ImpressivecombinedD-OoHNet Reach

C i t y	C b i d t o m n e n e h i % r e a c n	G R P s
B l i e r n	6 0 9	4 4 4
H b a m r g u	8 2 7	9 4 6
M i h n c u	6 5 6	7 9 5
C l o o g n e	7 7 9	8 3 2
f F k t r a n u r	6 0 5	4 8 7
S t t t t u g a r	7 7 6	1, 0 5 0
f D ü l d s s e o r	7 0 2	5 4 7
E s s e n	6 4 6	5 1 2

D-OoH net reach in top 10 cities

65%

National broadcastoffer:

Public Video RON (Station, Mall, Infoscreen, Roadside, City, City Tower), 1 week, 10 sec. spot, Ø ad pressure

Focus on Conversion of top Locations to Digital (1) Exemplary Sites from Q2 2022 pushing Growth of total Digital Network

Focus on Conversion of top Locations to Digital (2) Exemplary Sites from Q2 2022 pushing Growth of total Digital Network

Focus on Conversion of top Locations to Digital (3) Exemplary Sites from Q2 2022 pushing Growth of total Digital Network

First 3D OoHAnimation at München Stachus

Constantly evolving new Advertising Opportunites for Advertisers

• First 3D-spot on 31 sqm Public Video Giant for Sky Deutschland
• Spectacular and attention grabbing First-Mover implementation
• In addition Sky was present on Digital Motion Tower in Munich train station, PV Giant, PV Station and PV Infoscreen in Top10 cities

Strong Client connections in more volatile Times

Active presence on major industry events

Trade Fair Booth – Masterclass - Expostage

Presentation on: Convergence: OoH in a world of digital media

• Ströer exhibition stand together with Ottobahnand Mann+Hummel
• Panel at conference: bursting the 'green bubble' with better communication

Client Access (1) Deepening Relations with major Advertising Partners

• Strategy change from TV to OoH/DOoH due to regressive TV reach
• Awareness push for the individual brands

• AIDA year opening campaign after a difficult previous year
• Focus on Classic, Online and DOoH

• Impact on the best home and family entertainment
• Top outlook for streaming campaigns in OoH and DOoH for the 2nd half in 2022

Client Access (2)

Bringing new (or again) Top Brands to (D)OoH

Statista and Asambeauty continue growth path

Statista, the global leading DaaS platform, continues growth course

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• Statista sees a 42 per cent increase in turnover to around 68 million in the first half of the 2022 financial year
• Strong international business: Statista was able to increase the share of sales to customers from the USA to 36 per cent of total sales
• Since its acquisition by Ströer, Statista has reported average annual growth of 39 per cent.

Asambeauty continues its strong growth trajectory and outperforms established market players

• Make-up brand M. Asam® MAGIC FINISH doubled sales at leading drugstores in the period from March to May compared to the previous year
• Skincare grows twice as fast as the overall facial care market in the drugstore sector*
• Haircare brand ahuhu grows 10 times faster than the market, and doubles year-on-year sales in the drugstore sector*
• Asambeauty ranked 8th in the NielsenIQ Brand Score

Recap Strategy and what we have been executing in H1

Clear Focus on strong organic Growth Levers

Accelerated digitization of Out-of-Home infrastructure

1

OoH Plus leveraging network effects to drive OoH growth2

Non-Core assets fully on growth track

Agenda

Group Update

Financials

Outlook

Profit and Loss Statement Q2 2022

€ m	Q 2 2 0 2 1	Q 2 2 0 2 2	▲
R e e n e s v u	3 7 4. 0	4 2 5. 0	% 1 4 +
O i h t r g a n c g r o w	4 2. 8 % +	1 3. 8 % +	2 9. 0 % t p s -
E B I T D A ( d j t d ) a u s e	1 0 6. 8	1 2 5. 7	1 8 % +
E t i l i t x c e p o n a e m s	0. 6 -	1 1. 5	/ n a
E B I T D A	1 0 6. 2	1 3 7. 1	2 9 % +
( ) 1 D i i & A i i t t t e p r e c a o n m o r a o n z	7 9. 7 -	7 5. 4 -	% 5 +
E B I T	2 6. 5	6 1. 7	1 0 0 % > +
( 1 ) F i i l l t n a n c a r e s u	6. 7 -	6. 3 -	% 7 +
E B T	1 9. 8	5 5. 4	1 0 0 % > +
( 2 ) T l t a r e s x u	4. 6 -	1 2. 8 -	% 1 0 0 >-
N I t e n c o m e	1 5. 2	4 2. 7	% 1 0 0 > +
( 3 ) A d j t t u s m e n s	1 0. 9	3. 7 -	/ n a
( ) N t I d j t d e n c o m e a u s e	2 6. 1	3 9. 0	4 9 % +

Note: New organic growth calculation with 12 months delayed recognition of acquisitions (applied from fiscal year 2022)

(1)Thereof attributable to IFRS 16 in D&A 50.4m€ (PY: 48.4m€) and in financial result 3.8m€ (PY: 4.3m€);(2)Tax rate according to IFRS is 23.0% (PY: 23.2%)

(3)Adjusted for exceptional items (-11.5m€) and additional other reconciling factors in D&A (PPA related amortization and impairment losses, +6.7m€)

and in income taxes (+1.1m€)

Free Cash Flow Perspective Q2 2022

€ m	Q 2 2 0 2 1	Q 2 2 0 2 2
E B I T D A ( d j d ) t a u s e	1 0 6. 8	1 2 5. 7
E i l i t t c e p o n a e m s x -	0. 6 -	1 1. 5
E B I T D A	1 0 6. 2	1 3 7. 1
I t t n e r e s -	6. 7 -	5. 9 -
T a x -	6 5. -	3 7. -
/ C W + -	3. 3	6. 3
/ O t h + e r s -	3. 8 -	1 1. 9 -
O t i C h F l p e r a n g a s o w	9 3. 4	1 1 8. 4
I ( b f M & A ) t t n v e s m e n s e o r e	2 3. 8 -	3 2. 5 -
C ( f & ) F h F l b M A r e e a s o w e o r e	6 9. 7	8 5. 8
( 3 ) ( S ) L l i b i l i t t I F R 1 6 e a s e a y r e p a y m e n s	3 5. 7 -	4 3. 0 -
( 4 ) F C h F l ( d j t d ) r e e a s o w a u s e	3 3. 9	4 2. 8

C t o m m e n
S l i d C h F l f i Q 2 2 0 2 2 F C h o a s o w p e r o r m a n c e n ; r e e a s  Q F l d j. l t f f t d l i f 1 o w a a m o s o s e s e c n e r o m
D i O h d d j f h t t t t e c r e a s e n e r s u e o a u s m e n o n o n- c a s  i t i l l i d i l f i t t i l d i i t l e m s, e s p e c a y g a n o n s p o s a o n e r n a o n a g a ( ) 1 b i i i i d l l f k i t t t t t s n e s s a c e s a n p a r r e e a s e o s o c o p o n u v y l ( f f f f ) t p a n o n e- o e e c s
H i h i i l l i d i i i i f t t t t t g n e s m e n s p a r c a r n g a o n o  v u y z d i i i i O H M d i t t t a v e r s n g u n s n o e a s e g m e n
( 2 ) B k l i 2. 1 d h b h P Y t t t t t t a n e e r a g e r a o a a n s e e r a n  v u d i t d i i d d t i Q 2 2 0 2 2 ( P Y Q 3 ) e s p e v e n p a y m e n n :
2. 3 1	2. 4 9	1. 9 7	1. 9 6	2. 1 2
6 2 2. 8	0 8. 3 7	6 1 2. 3	6 3. 2 5	7 2 6. 0		F ina ia l n de b t t nc e Le t io ve rag e r a
3 0 Ju n 2 0 2 1	3 0 Se p 2 0 2 1	3 1 De c 2 0 2 1	3 1 Ma r 2 0 2 2	3 0 Ju n 2 0 2 2

(1)Cash inflow from purchase price is part of M&A Cash Flow

(2)Net debt and adj. EBITDA of last 12 month adjusted for IFRS 16; restated retrospectively due to the purchase price allocations that were finalized after 30 September 2021

(3)Part of Cash Flow from financing activities; (4)Before M&A and incl. IFRS 16 lease liability repayments

Segment Perspective – OoH Media

	Q	2		6 M
€ m	2 0 2 1	2 0 2 2	▲	2 0 2 1	2 0 2 2	▲
S t t h f e g m e n r e v e n u e, e r e o	1 5 2. 3	1 8 7. 1	% 2 2. 8 +	2 5 0. 2	3 3 8. 9	% 3 5. 4 +
C l i O O H a s s c	1 1 1. 0	1 2 2. 3	1 0. 1 % +	1 8 1. 1	2 1 7. 8	2 0. 2 % +
O O D i i t l H g a	2 9. 3	5 0. 6	% 7 2. 9 +	4 6. 8	9 2. 9	% 9 8. 5 +
O O H S i e r v c e s	1 2. 0	1 4. 2	1 7. 9 % +	2 2. 3	2 8. 3	2 6. 6 % +
( ) E B I T D A d j t d a u s e	6 4. 0	8 8. 2	% 3 7. 9 +	1 0 0. 2	1 4 7. 2	% 4 6. 9 +
E B I T D A i ( d j d ) t m a r g n a u s e	4 2. 0 %	4 7. 2 %	5. 2 % t + p s	4 0. 0 %	4 3. 4 %	3. 4 % t + p s

Comment

• OoH Media benefited from positive market dynamics; lockdown restrictions due to Covid-19 in 2021 until May
• Strong growth in revenue and EBITDA adj. despite insecurities from war in Ukraine softening demand from national key accounts
• Growth in segment revenue adjusted for tobacco advertising is 26.5% in Q2 and 39.4% YTD
• Especially Digital OoH with continuous strong growth; larger digital portfolio well accepted by customers
• Q2 and YTD EBITDA adj. and margin with improvement; PY period supported by short-time allowance

Segment Perspective – Digital & Dialog Media

	Q	2		6 M
€ m	2 0 2 1	2 0 2 2	▲	2 0 2 1	2 0 2 2	▲
S h f t t e g m e n r e v e n u e, e r e o	1 7 4. 9	1 8 1. 4	3. 7 % +	3 3 5. 5	3 5 1. 7	4. 8 % +
D i i t l g a	1 0 1. 1	9 8. 3	2. 8 % -	1 8 6. 6	1 8 0 7.	0. 2 % +
D i l a o g	7 3. 8	8 3. 1	1 2. 6 % +	1 4 8. 8	1 6 4. 7	1 0. 7 % +
E B I T D A ( d j d ) t a s e u	4 0 5.	4 0. 4	1 0. 2 % -	8 2. 7	9 7 7.	9 % 5. -
E B I T D A i ( d j t d ) m a r g n a u s e	2 5. 7 %	2 2. 3 %	3. 5 % t p s -	2 4. 7 %	2 2. 1 %	2. 5 % t p s -

Comment

• Slight revenue decrease in Digital (online advertising and content publishing) in Q2 due to high negative exchange rate effects at international business activities, which were successfully disposed of in Q2; positive organic growth rate driven by programmatic advertising on own platforms; YTD revenue on PY level
• Dialog (Call Center and D2D) with robust growth especially driven by highly successful direct sales activities for telecommunication products, that offset demanding conditions for sales in the energy sector (D2D) and higher sickness rates at Call Centers
• Challenging market environment in both business areas is reflected in EBITDA adj. development

Segment Perspective – DaaS & E-Commerce

	Q 2			6 M
€ m	2 0 2 1	2 0 2 2	▲	2 0 2 1	2 0 2 2	▲
S f t t h e g m e n r e v e n u e, e r e o	5 5. 6	7 1. 1	% 2 7. 9 +	1 1 1. 9	1 4 2. 1	% 2 7. 0 +
D S i t a a a s a e r v c e	2 4. 5	3 3. 7	3 7. 4 % +	4 7. 6	6 7. 8	4 2. 4 % +
E- C o m m e r c e	3 1. 0	3 4 7.	2 0. 4 % +	6 4. 3	4. 3 7	1 % 5. 5 +
E B I T D A ( d j t d ) a u s e	4. 7	4. 1	1 3. 5 % -	1 1. 4	1 0. 0	1 2. 4 % -
E B I T D A i ( d j d ) t m a r g n a s e u	8. % 5	% 5. 7	2. 8 % t p s -	1 0. 2 %	1 % 7.	3. 2 % t p s -

Comment

Statista with ongoing strong growth

• Asam with accelerating growth compared to Q1 2022 especially due to strong Retail and eCom business
• Broadly stable EBITDA adj. despite continued strong expansion and cost inflation

Sustainability – New sustainability report 2021 of Ströer published and corporate carbon footprint substantially reduced

Third sustainability report of Ströer

Prepared in accordance with Global Reporting Initiative (GRI) guidelines

Scope and depth of the topics and data significantly increased

Materiality analysis for Ströer Group conducted, taking double materiality into account

Calculation of Ströer's CCF and full disclosure for 2019-2021 in new sustainability report, including material emission sources

In 2021, CCF fell by 33% compared to 2020, more than 14,000 t CO2e saved by switching to green energy

21

Corporate carbon footprint (CCF) 2019-2021

Diversity Day @ Ströer

• Ströer used this year's Diversity Day to make the diversity of the Ströer team visible and for an intensive exchange
• Ströer employees put together a varied program of
  • panel discussions
  • keynote speeches
  • support for the implementation of unconscious bias training
  • The employees had the opportunity to get to know the WELCOMING OUT initiative

Diversity OoH:

Together with Charta der Vielfalt e.V., Ströer brought the 10th German Diversity Day to its digital advertising spaces in numerous stations throughout Germany and invented a diversity quiz on digital media.

Agenda

Group Update

Financials

Outlook

2022 – Outlook H1 Results & Orderbook Q3 on track

Based on the assumption that there is no significant new COVID wave in autumn/winter and without further escalation of the Ukraine situation and its domino effects

we expect for the third quarter 2022

Group Organic Growth in the mid single digit range

(OoH above strong prior year level; July & August Orderbook mid to high single digit momentum vs. both PY and 2019/pre-Pandemic levels)

Group EBITDA margin broadly stable

For the full year 2022we expect [still unchanged]

• Group Organic Growth of 10-14% (OoH up by 16-20%)
• Group EBITDA Margin above 2021 level

OoH Plus – a very resilient media business Robustness despite Rise of Global Platforms and the Pandemic

Source: 251 Statista, GDP Germany / Ifo Business Climate Index 2 Ströer Group / Ströer Data

Index

Financial Calendar 2022

Disclaimer

This presentation contains "forward looking statements" regarding Ströer SE & Co. KGaA ("Ströer") or the Ströer Group, including opinions, estimates and projections regarding Ströer's or the Ströer Group's financial position, business strategy, plans and objectives of management and future operations.

Such forward looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of Ströer or the Ströer Group to be materially different from future results, performance or achievements expressed or implied by such forward looking statements.

These forward looking statements speak only as of the date of this presentation release and are based on numerous assumptions which may or may not prove to be correct. No representation or warranty, express or implied, is made by Ströer with respect to the fairness, completeness, correctness, reasonableness or accuracy of any information and opinions contained herein.

The information in this presentation is subject to change without notice, it may be incomplete or condensed, and it may not contain all material information concerning Ströer or the Ströer Group. Ströer undertakes no obligation to publicly update or revise any forward looking statements or other information stated herein, whether as a result of new information, future events or otherwise.