Mediaset Espana Comunicacion S.A.

Investor Presentation • Oct 27, 2021

9M 2021 Results Presentation

Madrid, October 27th 2021

HIGHLIGHTS: 9M 2021 RESULTS

HIGHLIGHTS: 9M 2021 RESULTS
Million €	9M 21	9M 20	%	28.5% 27.3%
Total Net Revenues	603.8	546.6	10.5%
Total operating costs	451.4	396.6	13.8%	14.4%		13.0%
EBITDA Adj.	152.4	150.1	1.6%		8.5% 8.3%
EBITDA margin	25.2%	27.5%
EBIT	139.6	132.9	5.0%
EBIT margin	23.1%	24.3%		Audience Total Individuals Total day Source: Kantar Media	9M 2021 Audiovisual & TV Advertising Market Share
NET PROFIT	114.2	103.2	10.6%	Mediaset España	Others
EPS	0.36	0.33		29.9%	Mediaset España 16.1% 43.2%
Free Cash Flow	181.3	119.8	51.4%
Net cash position(end of the period)	202.2	25.1	n.r	Others 70.1% Infoadex's figures		Atresmedia 40.7%

Audience share & Commercial Target conversion

Positive/Negative conversion points

Commercial KPI's 9M 21

Q3 21 9M 21 Audience 28.5% 28.5% Var% -0.2% -0.1% Seconds 8.1% 17.2% GRP'S 20 -3.2% 9.7% C/GRP 20 4.7% 5.4% 530.7 500.1 9M 21 9M 21 43.2% € Mill. Results Presentation – 9M 2021 ⁵ 40.7%

Gross TV Advertising Revenues 9M 21

Source: Infoadex

Dizi, an 8 Turkish fiction exclusive section

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

FINANCIAL REVIEW 9M 21

FINANCIAL REVIEW 9M 21

(*) In 2020 and 2021 the ratio is positively affected by lower investment in content due to pandemic. Figures expected to move towards normalization in future quarters

ESG 2021

One on the few Spanish companies positioned in the Europe's Climate Leaders 2021 ranking (*)

Voluntary offsetting of Scope 1 and 2 residual emissions by financing projects aimed at reducing GHG emissions & reinforcing carbon sink

Only Spanish media Group with which guaranties employees and providers safety

Results Presentation – 9M 2021 ⁹ Content distribution on gender equality, diversity, environment / climate change & welfare management. Free distribution of advertising space to NGOs. Social awareness campaigns covid-19 Aenor certification

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

OUTLOOK 2021

Appendix

Madrid, October 27th 2021

Profit & Loss Accounts - I
EUR mil.	9M 21	9M 20	Var (%)
Gross Advertising Revenues	574.5	488.3	17.7%
Mediaset España´s Media	557.4	478.9	16.4%
Third Party Media	17.1	9.4	81.3%
Commission	(26.2)	(18.1)	44.4%
Net advertising revenues	548.4	470.2	16.6%
Other revenues	55.4	76.4	(27.5%)
Total Net Revenues	603.8	546.6	10.5%
Rights Amortisation	(61.5)	(70.8)	(13.1%)
		(84.6)	7.9%
Personnel	(91.3)
Other operating costs	(298.6)	(241.1)	23.8%
Total Costs	(451.4)	(396.6)	13.8%
EBITDA	152.4	150.1	1.6%
EBITDA Margin	25.2%	27.5%

Profit & Loss Accounts - II
EUR mil.	9M 21	9M 20	Var (%)
EBITDA	152.4	150.1	1.6%
EBITDA Margin	25.2%	27.5%
Other amortisations. provisions	(6.1)	(11.1)	(44.7%)
Amortisation PPA	(6.7)	(6.1)	9.8%
EBIT	139.6	132.9	5.0%
EBIT Margin	23.1%	24.3%
Equity Cons. Results and Depr. Fin. Assets	2.4	1.9	26.3%
Financial results	2.7	(0.4)	-
Pre-tax Profit	144.7	134.4	7.7%
		(29.5)	(1.1%)
Income taxes	(29.2)
Minority interests	(1.3)	(1.7)	(19.9%)

CAPEX Allocation

		25.0%	56.1%
Tangible and Intangible Fix Assets
Third party		49.2	54.7	(10.2%)	80.8
Fiction		21.9	21.6	1.4%	42.5
Co-Production/Distribution		12.8	4.3	196.9%	21.0
Tangible and Intangible Fix	Assets	3.9	4.0	(2.9%)	7.3
Total Capex		87.7	84.6	3.6%	151.5
Results Presentation – 9M 2021						15

Increasing weight of In-house contents

TeleCinco Cuatro FDF Divinity Boing Energy BeMad 55.4% 95.4% 76.4% 91.6% 3.4% 0.5% 17.5% 99.7% 44.6% 4.6% 23.6% 7.4% 96.6% 99.5% 82.5% 0.3% In - house Third Party +0.5% vs 9M 20 Results Presentation – 9M 2021 ¹⁶

Balance Sheet - I
mill. EUR	Sep. 21	Dec. 20	Dec. 2019
Tangible assets	1,026.6	887.3	758.0
Financial	813.3	662.0	520.2
Non Financial	213.3	225.3	237.8
Audiovisual rights and Pre-payments	151.7	129.4	170.8
Third parties	68.7	63.6	83.3
Fiction	51.6	44.7	58.5
	31.3	21.0	29.0
Co-production / Distribution
Deferred tax assets	55.3	79.2	70.0
TOTAL NON-CURRENT ASSETS	1,233.5	1,095.8	998.8
Current assets	204.1	302.9	293.5
Financial investments and cash	253.2	326.0	130.9
TOTAL CURRENT ASSETS	457.3	628.9	424.4
TOTAL ASSETS	1,690.8	1,724.7	1,423.1

Balance Sheet - II
EUR mil.	Sep. 21	Dec. 20	Dec. 19
Shareholders`equity	1,251.2	1,111.9	915.8
Non-current provisions	11.4	12.6	11.1
Deferred tax liabilities	56.9	49.6	38.5
		202.5	31.8
Non-current financial liabilities	50.5
Financial liabilities	113.3	108.7	154.7
TOTAL NON-CURRENT LIABILITIES	232.0	373.4	236.1
Current payables	207.0	238.3	270.4
Current financial liabilities	0.5	1.1	0.9
TOTAL CURRENT LIABILITIES	207.5	239.4	271.3

Cash Flow

Cash Flow
EUR mill.	9M 21	9M 20	Var. € million	Sep. 19
Initial cash position	123.2	(30.2)	153.4	165.5
Operating free cash flow	181.3	119.8	61.5	168.1
Operating cash flow	200.2	191.7	8.5	269.6
Net Investments (rights & other)	(87.7)	(84.6)	(3.1)	(151.5)
Change in working capital	68.8	12.7	56.1	50.0
Change in Equity	(1.3)	2.1	(3.4)	0.2
Financial investments/disinvestments	(105.7)	(66.7)	(39.0)	(6.7)
Dividends received	6.9	2.5	4.5	1.7
Dividend payments	(1.5)	(1.2)	(0.3)	(100.0)
Own stock purchase	(0.7)	(1.1)	0.4	(94.6)
Net Cash Change	79.0	55.3	23.7	(31.2)
	202.2	25.1	177.1	134.3

Contact

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 – 9M 2021 ²⁰