NRJ Group

Earnings Release • May 10, 2023

Paris, May 10, 2023 – 5.45 pm Financial information for the 1st quarter of 2023 – NRJ Group

Consolidated revenue(1) for the first quarter of 2023 stable at €84.8 million

In millions of euros	Q1 2023	Q1 2022	Change
Radio	49.3	49.2	+0.2%
Television	17.4	18.6	-6.5%
Broadcasting	18.1	17.6	+2.8%
Revenue excluding barters	84.8	85.4	-0.7%
Revenue on barters	3.3	2.8	+17.9%
Revenue	88.1	88.2	-0.1%

In the first quarter of 2023, the Group reported consolidated revenue excluding barters of €84.8 million; down slightly by 0.7% compared to the same period in 2022. Radio and Broadcasting activities increased by +0.2% and +2.8% respectively, while Television activity recorded a -6.5% drop, in line with that of the TV media advertising market.

According to the Cross Médias study(2) , more than 8 in 10 French people are entertained by NRJ Group's media each month.

RADIO

According to the Médiamétrie January–March wave, 39.7 million French people(3) spent 2 hours and 36 minutes each day listening to the radio,(4) confirming Radio media's strength, and their attachment to this media which is part of their everyday lives.

The last wave was characterised by excellent performances for the Group's radio stations. With an audience share for the entire public of 15.3%(5) , up +1.3 percentage points in one year(6) , the Group's radio stations outperformed the aggregate 'musical programmes' whose audience share grew by +0.7 percentage points(7) . In France, the Group has the number one commercial radio offering for the entire public(8) and for the 25–49 priority age group target(9) , boosting its dominant position with an audience share of 22.0%(9) (+2.9 percentage points in one year(10)).

Each of the Group's 4 radio stations recorded significant results, and the NRJ, Nostalgie, Chérie FM and Rire & Chansons morning shows gained new listeners simultaneously(11) .

• NRJ is France's number 1 radio station for listeners in the under-65 age group(12) and recorded an all-time high for the 25–49 age group target of 13.3%(13) as well as the greatest growth of all radio stations(14) . 'Manu dans le 6/10' is France's number one morning show for listeners aged under 60(15) . NRJ's morning show marked an all-time high for audience share, with 8.0% for the entire public(16) . C'Cauet is France's number one radio show from 3 p.m. to 7 p.m. for the under-65 age group(17) . Every day, almost 4.6 million people listen to NRJ(18) .
• Nostalgie, France's second music radio station(19) , recorded its best performance in 13 years(20) and each day it brings together almost 3.1 million listeners(18) . Its 'Les matins Nostalgie' morning show recorded an audience gain of +9% in one year(21) .
• With almost 1.8 million listeners each day(18) , Chérie FM reinforced its position as the choice station among females in France with 67% of women tuning into it(22) . Its 'Le réveil Chérie' morning show recorded an audience increase of +12%(23) .
• Rire & Chansons brings together more than 1.2 million daily listeners(18) and was the favourite music station in France among men, with 68% of men listening in(24) . Its 'Le Morning du Rire' morning show audience increased by +11% in one year(25) .

Every day, almost 9.8 million French people listen to the Group's radio stations(18) .

In March 2023, the Group's internet radio stations recorded new all-time highs, with a 19% increase in listening sessions in one year(26) . The Group cemented its position as the leading private digital audio group in France, with its programmes available on all digital devices: it is the number one private internet radio group(27) and has the first commercial offer in France on smart speakers (28) . NRJ Group is ranked as the number one radio group for ecommerce and every week it brings together more than 11 million listeners who make purchases online(29) .

Over the period, the Radio division generated revenue(1) of €49.3 million, a +0.2% increase compared to the first quarter of 2022. In France, the Group saw stable revenue at a national level, a -3.2% decrease locally, and a +4.8% increase internationally.

TELEVISION

The Group's TV division's free-to-air channels (NRJ 12 and Chérie 25) saw audience gains for the high commercial priority targets in the first quarter of the 2023 financial year. As such, NRJ 12 and Chérie 25 achieved a combined audience share for the 25–49 age group target of 2.7%(30) , an increase of +0.3 percentage points(31) compared to the first quarter of 2022. The women under 50 responsible for purchases target's combined audience share climbed +0.3 percentage points(31) to 3.1%(30) .

In a context of the TV media advertising market's downward trend in the first quarter of 2023 compared to the first quarter of 2022 – which saw a significant reversal after the COVID pandemic – the Group's TV division recorded a - 6.5% drop in revenue(1), down to €17.4 million.

BROADCASTING

In the first 3 months of the 2023 financial year, the Broadcasting division recorded revenue(1) of €18.1 million, up by 2.8% compared to the first quarter of 2022. This increase is due to growth in all FM, DAB+ and DTT activities.

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Outlook

The Group's outlook for the 2023 financial year remains unchanged.

In April, the Radio and Television divisions' revenue(1) remained similar to that seen in the first quarter of 2023. In an uncertain economic and social context, visibility remains limited for the rest of 2023.

Next release: Shareholders' General Meeting on May 11, 2023.

Sources:

• (1) Consolidated revenue excluding barters, not audited, and according to IFRS standards.
• (2) 2022.1 Wave Cross Media study, reproduction prohibited, all rights reserved by Mobimétrie, ACPM and Médiamétrie. Aged 15 years +.
• (3) Médiamétrie, RAS-National, January-March 2023, Radio as a whole, Monday-Friday, aged 13 years and +, 05:00-24:00, AC.
• (4) Médiamétrie, RAS-National, January-March 2023, Radio as a whole, Monday-Friday, aged 13 years and +, 05:00-24:00, DEA.
• (5) Médiamétrie, RAS-National, January-March 2023, NRJ Global, Monday-Friday, aged 13 years and +, 05:00-24:00, PDA.

(6) Médiamétrie, RAS-National, NRJ Global, January-March 2023, Monday-Friday, aged 13 years and +, 05:00-24:00, PDA. January-March 2023 versus January-March 2022, change in point.

• (7) Médiamétrie, RAS-National, January-March 2023, Aggregate 'Musical Programmes', Monday-Friday, aged 13 years and +, 05:00-24:00, PDA. January-March 2023 versus January-March 2022, change in point.
• (8) Médiamétrie, RAS-National, January-March 2023, NRJ Global, Monday-Friday, 05:00-24:00, aged 13 years and +, AC.
• (9) Médiamétrie, RAS-National, January-March 2023, NRJ Global, Monday-Friday, 05:00-24:00, 25-49 age group, AC and PDA.

(10) Médiamétrie, RAS-National, January-March 2023, NRJ Global, Monday-Friday, 05:00-24:00, 25-49 age group, PDA. January-March 2023 versus January-March 2022, change in point.

• (11) Médiamétrie, RAS-National, January-March 2023, Monday-Friday, aged 13 years and +, AC. NRJ: 06:00-10:00, Nostalgie: 06:00-09:00, Chérie FM: 06:00-09:00, Rire & Chansons: 06:00-10:00.
• (12) Médiamétrie, RAS-National, January-March 2023, NRJ, Monday-Friday,13-64 age group, 05:00-24:00, AC.
• (13) Médiamétrie, RAS-National, January-March 2023, NRJ, Monday-Friday, 05:00-24:00, 25-49 age group, PDA. Historic record.
• (14) Médiamétrie, RAS-National, January-March 2023, NRJ, Monday-Friday, aged 13 years and +, 05:00-24:00, PDA. January-March 2023 versus January-March 2022, change in point.
• (15) Médiamétrie, RAS-National, January-March 2023, NRJ, Monday-Friday,13-59 age group, 06:00-10:00 (MANU DANS LE 6/10), AC.

(16) Médiamétrie, RAS-National, January-March 2023, NRJ, Monday-Friday, aged 13 years and +, 06:00-10:00, PDA. Historic record.

• (17) Médiamétrie, RAS-National, January-March 2023, NRJ, Monday-Friday,13-64 age group, 15:00-19:00 (C'CAUET), AC.
• (18) Médiamétrie, RAS-National, January-March 2023, Monday-Friday, aged 13 years and +, 05:00-24:00, AC. NRJ: 4,567,000 listeners, Nostalgie:
• 3,069,000 listeners, Chérie FM: 1,752,000 listeners, Rire & Chansons: 1,210,000 listeners, NRJ GLOBAL: 9,764,000 listeners.
• (19) Médiamétrie, RAS-National, January-March 2023, Nostalgie, Monday-Friday, aged 13 years and +, 05:00-24:00, QHM and PDA. (20) Médiamétrie, RAS-National, January-March 2023, Nostalgie, Monday-Friday, aged 13 years and +, 05:00-24:00, PDA. Best recorded performance since September-October 2009.
• (21) Médiamétrie, RAS-National, Nostalgie, Monday-Friday, aged 13 years and +, 06:00-09:00 (LES MATINS NOSTALGIE), AC. January-March 2023 versus January-March 2022, change in %.
• (22) Médiamétrie, RAS-National, January-March 2023, Chérie FM, Monday-Friday, Females, 05:00-24:00, AC structure.
• (23) Médiamétrie, RAS-National, January-March 2023, Chérie FM, Monday-Friday, aged 13 years and +, 06:00-09:00 (LE REVEIL CHERIE), AC. January-March 2023 versus January-March 2022, change in %.
• (24) Médiamétrie, RAS-National, January-March 2023, Rire & Chansons, Monday-Friday, Males, 05:00-24:00, AC structure.
• (25) Médiamétrie, RAS-National, January-March 2023, Rire & Chansons, Monday-Friday, aged 13 years and +, 06:00-10:00 (LE MORNING DU RIRE), AC. January-March 2023 versus January-March 2022, change in %.
• (26) ACPM-OJD, global digital radio broadcasting, active listening sessions +30 seconds, data for France, NRJ Group, March 2023: 43,010,266 active listening sessions versus March 2022: 36,174,061 active listening sessions.Change in %.
• (27) ACPM-OJD, global digital radio broadcasting, March 2023, active listening sessions +30 seconds, data for France, NRJ Group: 43,010,266 active listening sessions.
• (28) Médiamétrie, RAS-National, Global Radio, September-October 2022, NRJ Global, Smart Speakers, Monday-Friday, aged 13 years and +, 05:00- 24:00, AC, Advertising pairing.
• (29) Kantar Media TGI April 2023. Stations listened to over the last 8 days. Online purchases in the past 12 months (websites/apps). 15+ age group target.
• (30) Médiamétrie-Médiamat, January-March 2023, Audience share, targets specified, Day of viewing, NRJ GROUP TV Division = aggregate NRJ 12 + Chérie 25, 03:00-27:00, Monday to Sunday.
• (31) Médiamétrie-Médiamat, Audience share, targets specified, Day of viewing, NRJ GROUP TV Division= aggregate NRJ 12 + Chérie 25, 03:00-27:00, Monday to Sunday. January-March 2023 vs January-March 2022, change in point.

Notice: Some of the information contained in this financial release may be provisional. This information reflects either trends or objectives and cannot be taken as a forecast of results or of any other performance indicator. By its very nature, such information is subject to risks and uncertainties which may, in certain cases, be beyond the Company's control. More details on these risks and uncertainties can be found in the public documents filed by the Group to the French financial market authority (Autorité des marchés financiers), in particular the NRJ GROUP Universal Registration Document whose last version is available on its website (www.nrjgroup.fr) under "Finances/ Publications financières/ Rapports financiers".

About NRJ GROUP

Forty years after Jean-Paul Baudecroux created the NRJ radio station, NRJ GROUP is one of France's leading private media groups in the publishing, production and broadcasting sectors, and also markets its own media spaces.

In France, the Group tops the private radio market with its four brands (NRJ, CHERIE FM, NOSTALGIE and RIRE & CHANSONS), is a significant player on the television market, where it operates and develops two free national channels (NRJ 12 and CHERIE 25) and a paid channel (NRJ HITS, the number 1 cable-satellite-ADSL music channel) and, through its subsidiary towerCast, ranks number two in the French broadcasting market. The Group has also leveraged its brand strength, marketing expertise and commercial power to develop a digital ecosystem in recent years, to adapt to today's consumer expectations and anticipate changes in future uses. As such, brands are developing their territories in a number of different formats, including live digital streaming, more than 230 topical internet radio stations, and original and catch-up podcasts. They are also available on a wide range of digital media devices, for more ways to access content: websites, mobile apps and even smart speakers. Today, NRJ Group is the leading private digital radio group in France. An original and catch-up podcast producer, the Group is also a podcast content aggregator thanks to partnerships with external producers. This approach allows the Group to position itself on the digital audio market with a significant, context-appropriate offering as part of a brand-safe communication environment.

On the international market, the Group is present in 17 other countries either directly or through partnerships or licensing agreements, primarily with the NRJ/ENERGY brand – the number one international radio brand – and/or the NOSTALGIE/NOSTALGI/RADIO NOSTALGIA brand.

NRJ GROUP shares are listed on the Euronext in Paris (compartment B). Codes - ISIN: FR0000121691; Reuters: NRG-FR; Bloomberg: NRG FP.

Analyst and Investor Information

NRJ GROUP – Investor Relations 46-50 avenue Théophile Gautier 75016 Paris - www.nrjgroup.fr FTI Consulting – Arnaud de Cheffontaines | Cosme Julien-Madoni / Tel: + 33 1 47 03 68 19 / e-mail: nrjgroup@fticonsulting.com

NRJ GROUP, Public limited company with share capital of €781,076.21 Head office: 22 rue Boileau 75016 Paris 332 036 128 RCS PARIS