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Ströer SE & Co. KGaA

Investor Presentation • Nov 13, 2019

417_ip_2019-11-13_0e8dd017-497b-4662-8c58-4a14a31deb16.pdf

Investor Presentation

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Results 9M 2019 (continuing Operations)

€
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s		 1,
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8		 1,
6
1
7
5.		 2
%
-

Note: Disposal of OoH Turkey classified as discontinued operations

(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 (applying a normalized tax rate of 15.8%)

OoH Market outperforming the German Ad IndustryStröer with unique Position in a structurally growing Business

CAGR 2005 – 2019e | Source: 2 3Zenith Media/ZAW net; *OoH incl. billboard, transport media incl. Public Video and Infoscreen, at-retail-media incl. Mall Video, ambient media; **Source: ZAW, Ströer Data

Tectonic Shifts in classic German Media Landscape

Decline of Print going on, Decline of TV becoming visible – OoH wins significantly

German advertising market Q1-Q3 2018 vs. Q1-Q3 2019

Source: Nielsen Media Research Gross Advertising (Germany); *Nielsen; PWC/ZAW/own estimates

Digital Dividend pays off (1)

Incremental programmatic Revenues from Online to Public Video (DOoH)

Source: *Zenith Programmatic Marketing Forecast 2019; **Ströer data

Digital Dividend pays off (2)

Long-term Portfolio Contracts converted into DOoH Assets

Source: Ströer data; *Premium locations for >9 sqm Megalight/ Digital Screens7

Digital Dividend pays off (3)

Local Sales Approach maximizes Monetization of digital roadside Assets

>93% RSS revenues SMEs/signage

Focus on Sales & Performance in Direct MarketingReducing Service Share of Dialog Portfolio – tackling Results from GDPR

Door2Door Sales

  • Strong development in last two years
  • Structural tailwind expected for next 5 years
  • Digitization of sales processes driving margin

Contact Centers "Sales & Service2Sales"

  • Growing customer base into e-commerce and digital business including tech/data integration
  • Good cross-selling opportunities with core business to strengthen share of wallet

Contact Centers "Service"

  • Limited growth and margin potential and lower impact on group access to customer
  • De-consolidation of 12 sites via joint venture partner as Discontinued Operations as ofQ4 2019; annualized ~ 85m revenues

Statista fully on Track to achieve full Year Targets 2019 No.1 Business Data Platform fully on Growth Track

Ströer sustainably outperforming the Ad Industry27thQuarter in a Row

Source: Ströer data; *Median

Consumers (and Facebook) love Out-of-Home Advertising Measurable Impact on Consideration and Purchase Intent

Source: Statista; Question: How much does advertising disturb or annoy you in the different advertising channels? Please rate the channels on a scale from 1 = "doesn't disturb / annoys me at all" to 5 = "disturbs / annoys me a lot". | https://specialreports.oaaa.org/facebook-combine-ooh-with-facebook-ads/13

Programmatic Public Video at top Frequency LocationsConstant weekly Revenue Inflow since more than one Year now

Hamburg120,000 (Mönckeberg Str.)Munich175,000 (Kaufinger Str.)Frankfurt180,000 (Frankfurter Zeil)Berlin60,000 (Friedrich Str.)450,000400,000460,000300,000Main shopping streets Main stations

Ströer with unparalleled Position in the Growth Industry OoHClear Market Leader overall and overproportioned in all DooH Categories

Source: PWC; Nielsen; Schickler Media Index 2019 – Forecast; Online: Display & Video & Search, Ströer data, https://www.dmi-org.com/downloads/Digital_Out_of_Home_Standorte_Screens.pdf; *excluding rights of promotion

Potential of more than 7bn traditional media spend in regional MarketGrowing Quantity and Quality of Salesforce is key to drive (D)OoH

Strong growth of local & digital sales force

Sale
am/
FTE
s te
s		 201
6		 201
7		 201
8		 e20
19		 e20
20
Reg
iona
l co
ltan
ts
nsu		 89 178 198 158
+		 170
+
Loc
al s
ales		 243 295 441 662
+		 850
+
"Dig
ital
only
"
sult
ants
con		 62 76 124 162
+		 220
+
Strö
er S
ME
onl
y
call
ter
nts
cen
age		 40 56 58 60 80+
TOT
AL		 434 605 821 1,0
42+		 1,3
20+

Ströer customer mixOoH revenues

Source: Schickler Research | Simplified presentation of categories | Adjusted for regional advertising spendings of national advertisers16

Continuously improved Marketing- and Sales-PositioningBest prepared to fully access local and national Clients

Sources: Nielsen Media Research; gross advertising, Q1-Q3 2019 (Germany); cons. gross sales Ströer: OoH Germany + all digital saleshouses of the group17

Structural Investments in future Growth of t-online.deLocalization of Portal, new Tech & Product Team, Integration of Verticals

Building a new local portal

https://t-online.de/region/koeln

27 local city portals already online

Next level tech & product

  • Second bigger optimization initiative of tech, marketing and product departments since 2015
  • Introduction of a new content management system (CMS) with short-term impact on monetization
  • Final step of "modernization" completed earlier than originally planned

Integration of total publishing into one organization

  • One consistent tech & monetization platform across all publishing assets around flagship t-online.de
  • Vertical platforms like:

Summary: Sustainable and reliable Business Development

TheCore of the OoH+ Strategy

Profit and Loss Statement Q3 2019Continuing Operations

€
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Note: Disposal of OoH Turkey classified as discontinued operations

*Thereof attributable to IFRS 16 in D&A 46.7m€ (PY: 43.8m€) and in financial result 5.6m€ (PY: 5.3m€)

**Adjusted for exceptional items (+13.2m€) and additional other reconciling factors in D&A (PPA related amortization and impairment losses, +18.7m€), in financial result (+0.2m€) and in income taxes (-5.3m€)21

Free Cash Flow Perspective Q3 2019Continuing Operations

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Note: Disposal of OoH Turkey classified as discontinued operations*Net debt and adj. EBITDA of last 12 month adjusted for IFRS 16**Part of cash flow from financing activities

***Before M&A and incl. IFRS 16 lease liability repayments

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Segment Perspective Q3 2019 – Solid organic Growth, Portfolio Optimizations soften reported View

  • Sustainable growth in OoH Media fueled by all sales channels; stable margin vs. prior year
  • Ongoing strong profitable growth of Digital OoH; portfolio changes soften overall segment performance
  • Sustainable organic growth in Direct Media (driven by door-to-door business) overcompensates portfolio changes within the segment; material reshaping and restructuring efforts in call center business

Ströer Group's Key Performance Indicators – Guidance 2019*

Given the strong order intake for the 4th quarter,we expect organic revenue growthat the upper end of the 3% to 7% guidance range, that we previously communicated, for the full year.

Financial Calendar 2020

Appendix

Profit and Loss Statement 9M 2019Continuing Operations

€
m		 M
9
2
0
1
9		 M
9
2
0
1
8
%
Re
ve
nu
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1
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+

Note: Disposal of OoH Turkey classified as discontinued operations

*Thereof attributable to IFRS 16 in D&A 133.9m€ (PY: 126.1m€) and in financial result 16.2m€ (PY: 16.3m€)

**Adjusted for exceptional items (+27.8m€) and additional other reconciling factors in D&A (PPA related amortization and impairment losses, +53.3m€), in financial result (+0.1m€) and in income taxes (-12.2m€)29

Free Cash Flow Perspective 9M 2019Continuing Operations

€
m		 9
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2
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1
9		 9
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Note: Disposal of OoH Turkey classified as discontinued operations*Part of cash flow from financing activities

**Before M&A and incl. IFRS 16 lease liability repayments

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.

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