Ströer SE & Co. KGaA

Investor Presentation • Jul 11, 2018

Company Presentation July 2018 | Ströer SE & Co. KGaA

INDEX

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02

Overview Challenges

03

Financial Figures

04

Outlook

"The most customer-centric, multi-channel media company in/from Germany."

Milestones of Ströer's strategic Development

Out-of-Home Media
(Location Based Advertising)

Content Media (Digital Content & Marketing Services)

Direct Media (D2D, Phone etc.)

Robust & Sustainable Growth Drivers in all Key Segments

Out-of-Home Media (Location Based Advertising)	Content Media (Digital Content & Marketing Services)	Dialog Media (D2D, Phone, Chat, Mail, CpO)
Key logics:
1. Slightly growing and robust portfolio market share with growing audience through urbanization and mobility 2. 54%* of revenues coming from	1. Meanwhile strong market position amongst German players and consolidation opportunities beyond 30%** market share	1. Growing clients' demand to manage & drive direct consumer contacts when GAFA is more and more controlling access channels
local and regional business (vs. 46% national ad market) 3. Digitization is driving both	2. 51%*** of revenues coming from direct client relationships and direct programmatic sources	2. Market fragmentation and lack of professionalization & scale is offering strategic opportunities
inventory value, monetization potential and yield optimization	3. Strong & highly profitable own assets in combination with 345**** of the top 700 German websites	3. Massive digitisation opportunities in combination with group synergies & 360° sales channels

Estimated Product Split in New Segment Structure for 2018

* Expected revenue split per segment w/o group consolidation and before IFRS changes 7

public media | #1 OOH provider | posters | train stations | transport | Street | Giant Posters | long-term advertising | 300,000 advertising spaces | street furniture | geomarketing | wide reach | high contact frequency

Out-of-Home : A leading position

online advertising | digital publishing | displays | video | public video | mobile | #1 quality marketer | #1 news portal | native advertising | programmatic advertising | data | influencer marketing | t-online.de | Ströer media brands | 53 million unique users*

Content Media: A strong Base Platform

dialogue marketing | telemarketing | market-oriented sales force | chat | non-voice | dialogue media platform | omni-channel solutions | customer dialogue |

Direct Marketing opens up new strategic Business Segment

Adjusted Earnings per Share Development since 2013

Note: Financials for 2013-2017 actuals, 2018 Guidance (before IFRS changes) *After minorities 14

Capture new Business Segments: Ströer's general Strategy

Guidance Achievement Year by Year

Guidance Achievement Year by Year
		2013			2014			2015			2016			2017
m€	Guidance	Actual		Guidance	Actual		Guidance	Actual		Guidance	Actual		Guidance	Actual
Organic growth	Low single digit	3.5%		>10%	11.4%		High single digit	9.8%		Mid to high single digit	7.2%		Mid to high single digit	8.7%	
Operational EBITDA	Moderate increase	118 (+10%)		~145	148		>200	208		>280	283		320-330	331	
Net Income Adj.	Moderate increase	36 (+51%)		>50	56		~100	107		>150	154		>175	184	
Free Cash Flow*	Moderate increase	39		Slight increase	80 (+103%)		~100	116		~135	139		~145	146	
Return on Capital Employed (ROCE)	Moderate increase	10.3%		>10%	13.8%		Considerable increase	15.4% (+1.6% p.p.)		stable	16.9%		stable	17.6%	

* Free Cash Flow before M&A 16

We listen to our Customers: Their Challenges in the Age of GAFA

Consumer Access for Advertisers has changed dramatically

Traditional value-chain business model Linear and one way

Consumer Access for Advertisers has changed dramatically

Advertiser

Complementing integrated Brand-Performance-Sales Funnel

Data aggregation

INDEX

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02

Overview Challenges

03

Financial Figures

04

Outlook

IFRS 16: Financial Reporting

Consolidated Financial Statements

IFRS 16: Financial Reporting
	Consolidated Financial Statements				Comment
	Q1 2018 Q1 2017 incl. IFRS w/o IFRS incl. IFRS changes changes changes			w/o IFRS changes
Quarterly Statement		*/	*/	
Presentation on Q1 2018 Statement				
					presentation

Comment

• In our quarterly statement no adoption of IFRS 16 retrospectively for 2017 (so called modified retrospective approach) changes
• For better transparency, like-for-like comparison of our financials before and after IFRS changes depicted in this presentation

Achievements in Q1 2018

m€	Guidance 2018	Q1 2018
Organic growth	Mid to high single digit	6.8%
Operational EBITDA	~ 375	109.8
Net Income Adj.	~ 215	29.2
Free Cash Flow*	~ 175	43.5

Q1 achievements pay into full year guidance

Dialog media already with benchmark profitability

OOH influenced by cautious tobacco advertising

* Free Cash Flow before M&A 27

INDEX

01

02

Overview Challenges

03

Financial Figures

04

Outlook

Our Targets for 2018: Unchanged KPIs & Sustainable Performance

*before M&A

Financial Calendar 2018

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.