Ströer SE & Co. KGaA

Investor Presentation • Mar 22, 2018

Company Presentation

March 2018 | Ströer SE & Co. KGaA

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Company Overview

02

Financials and Strategy

03

Guidance 2018

04

Ströer At a Glance 2018

Multichannel Media Sales House

Ströer Group*: Revenues ~ 1.6 bn€ | Op. EBITDA ~ 375 m€ | Op. EBITDA margin ~ 23-25%

Out-of-Home Media Content Media Dialog Media

• 1 OoH in Germany

• 1 European giant poster network

• 50% market share Germany

• High barriers to entry

• 1 in AGOF ranking

• Monetarization of 350 of the top 700 websites in Germany
• Approx. 4,500 Public Video Screens

Display, Video and Digital Marketing

• 2 Dialog Marketing in Germany

• Approx. 7,500 agents
• 90% client overlap with Content & OoH Media
• Complementing marketing offer

Revenues: ~ 700 to 750 m€* Revenues: ~ 500 to 550 m€* Revenues: ~ 350 to 400 m€*

Services Dialog Marketing and Transactions

Large formats, Street furniture and Transport

Milestones of Ströer Strategic Development

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Company Overview

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Financials and Strategy

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Guidance 2018

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Overall Performance in 2017

Group	Reported Revenues Organic Growth Operational EBITDA	1,331 m€ 9% 331 m€
	Out-of-Home Media	Content Media	Dialog Media*
Segments	Revenues 652 m€ Organic Growth +5.7 percent Op. EBITDA-Margin 25.7 percent	Revenues 528 m€ Organic Growth +9.9 percent Op. EBITDA-Margin 31.8 percent	Revenues 190 m€ Organic Growth +21.0 percent Op. EBITDA-Margin 9.9 percent

Ad Market: Growth Driver Segments Content and Out-of-Home

Source: Nielsen Media Research, gross advertising; * Online & Mobile; ** Mobile (MOB): as of 2011; *** OoH incl. Billboard, Transport Media, At-Retail-Media, Ambient Media 7

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

Strong Growth Path Top and Bottom Line

Ströer Group on a sustaining growth path:

• Revenue increase of +18% on average from 2013 to 2019
• Organic and acquired growth stemming from digital segment as well as robust development in German OoH business

Optimistic outlook for 2018

• Revenue increase to approx. 1.6 bn€ driven by digital diversification, dynamic sales activities in regional/local OoH business and expansion of Dialog Marketing
• Stable operational EBITDA margin*
• Free Cash Flow up to 175 m€**

Note: Financials for 2013-2017 actuals, 2018 Guidance (before IFRS changes), 2019 Consensus

* Like-for-like portfolio

** Before application of IFRS 11 and IFRS 16 9

Adjusted Earnings per Share almost quintupled from 2013 to 2018

Net Adjusted Income & Adjusted Earnings per Share* Comment

• Yearly average growth of adj. EPS of around +35% from 2013 to 2018
• Strong underlying operational performance leads to strong bottom line increase
• Value accretive acquisitions for shareholders
• Financial expenses significantly reduced
• Adjusted Earnings per Share calculated on the Weighted Average of Shares outstanding

Guidance Achievement Year by Year

	2013			2014			2015			2016			2017
EURm	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%	

Complementing Integrated Brand-Performance-Sales Funnel

Data Aggregation

Exemplary Key Accounts

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Clear Strategic Focus: Investing in Our Core Capabilities

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Company Overview

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Financials and Strategy

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Guidance 2018

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Financial Calendar

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Ströer Group's Key Performance Indicators – Guidance 2018

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Segment expectation for 2018*

Group Guidance	Reported Revenues Organic Growth Operational EBITDA	~ 1.6 bn€ mid to high single digit percentage ~ 375 m€
	Out-of-Home Media	Content Media	Dialog Media
Segment Expectation	Revenues ~ 700 to 750 m€ Organic Growth mid single digit percent Op. EBITDA-Margin 23-28 percent	Revenues ~ 500 to 550 m€ Organic Growth mid to high single digit percent Op. EBITDA-Margin 30-35 percent	Revenues ~ 350 to 400 m€ Organic Growth mid to high single digit percent Op. EBITDA-Margin 12-17 percent

01

Company Overview

02

Financials and Strategy

03

Guidance 2018

04

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, expressed 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.