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Ströer SE & Co. KGaA

Investor Presentation • Nov 10, 2021

417_ip_2021-11-10_1f1791fd-8402-4049-b2ae-008f82803da7.pdf

Investor Presentation

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Q3 2021 – Business back at pre-pandemic Level

November 10, 2021 | Ströer SE & Co. KGaA

Agenda

Group Update Financials Q3 Outlook

9M 2021 Performance with very different Quarters

OoH and Group Performance back on track since Q3

Entire Q1 in hard lockdown; costmanagement and PLUS businesseswith very strong momentum

Q2 with beginning V-shape recovery of OoH media parallel to more and more normal public life

Group performancein Q3 back abovepre-COVID levelwith some minor after-effects of the pandemic

Results 9M 2021

More than five months hard lockdown followed by strong rebound in Q3

€
m		 9
M
2
0
2
0		 9
M
2
0
2
1		 ▲
R
e
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n
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e
s		 R
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8
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1
%
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)
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+
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(
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e		 8
4
1		 1
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4
9
+
(
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)
(
)
N
t
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d
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t
d
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c
o
m
e
a
s
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u		 5
4
1		 8
3
4		 5
4
%
+
O
f
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l
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r
a
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c
a
s
o
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5		 2
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1.
5		 1
%
+
C
a
p
e
x		 7
3
6		 6
2
1		 1
6
%
-

(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 4

Globally unique OoH+ Strategy with One-Market-FocusCOVID-19 as a Stress-Test & a Bump in the Road for our long-term Targets

Recap Capital Market Day October 2021

Clear Focus on strong organic Growth Levers and total Shareholder Return

Accelerated Digitisation of Out of Home Infrastructure2

OoH Plus Synergies & Strong Cash Generation

Value Crystalization Potential of Non-Core Assets

Humber of Public Mose
Screens		 912581 FV 3521 3822 2013 2624 2029 7025
REBAILING 179 SE 3,569+
Frankas
Howherin
Seconds		 large vince ISSA M
Line of Hims 颚 : 48 580 out hip por Test.
an aumentacht is		 al soferne
$+7,000$
TO TAL. 216 1,816 Boy DOZINY
юö
PW.
DOM: ENTIREM		 6,886
Institute
Indiance
Screens		 Inside stationship 1296 1,000 at sterile
$= 8.000$
Inv 2020)
matrixf 2,966 2.560 - IT 189 out tup per Test
and the control of the control of
IDTA 5,827 5,358
POL 1299 2,341 16.204 x
Lengtall &
Paty
Screene		 - 15,203 11,680 opportunities, throubacturer, turner un-
(formalist Shek); + E. Sheksplotevel). Ny fis
available inventory is shargin potential.		 EUROPEIA
3-tueta 99,610 40,000 $-101/10$
Try 20201
TDTAL 28,645
74,693		 TO AN A

1

$-$ 35216 1922 2531 7624 3879. 7979 JK250
Cult Media $-741$ EAST -424-1239 $-1.1 - 1.2 - 0.$
Revenue Itutul & Diana
Marker		 $-741$ DAGE - 6.44-4.0% $196 - 348$
TOTAL $-5.4000$ CAGE - T.PL - KEN $-1.0 - 1.0$ aut
EXITIA MS TOTAL $-418 - 498$ CAGE
.		 $-83\% - 153\%$ $-718 - 118$
TOTAL
Cash Contribution's		 $-188 - 164$ CAGE - 154 - Hath 4981-988

3

6

Examplary Charts from CMD (October 7 2021)

Focus on Conversion of top Locations to Digital (1) Examplary Sites from 9M 2021 pushing Growth of Roadside Network

Düsseldorf Dresden Cologne

Focus on Conversion of top Locations to Digital (2) Examplary Sites from 9M 2021 pushing Growth of Total Digital Network

*Impression per spot; ad contacts per week

Focus on Conversion of top Locations to Digital (3) Unique large Formats like the Media Facade in Hamburg

500 qm I 87,000 average daily footfall

The perfect symbiosis of architecture and moving images

Taking home the Media Architecture Biennale Award, Sydney

Focus on Conversion of top Locations to Digital (4)

"Media Stage" in Hamburg's most exciting Street

138 qm Full Motion Screen Monthly frequency: 2,44 mio. Shopping I Tourism I Nightlife

Focus on Conversion of top Locations to Digital (5) Highly individualised Concepts as in Sylt/Niebüll

Agenda

Group Update Financials Q3 Outlook

Profit and Loss Statement Q3 2021

€
m		 Q
3
2
0
2
0		 Q
3
2
0
2
1		 %
▲
R
e
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e
s		 3
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5
5.		 4
1
4.
3		 1
%
7
+
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(
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1
8.
8		 1
3
8.
7		 %
1
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2
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5
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5
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+
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A		 1
1
3.
6		 1
3
6.
1		 2
0
%
+
&
*
D
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2		 6
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9		 1
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%
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+
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7
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4		 1
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+
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s		 1
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+
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a
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e		 3
5.
7		 5
6.
2		 5
7
%
+

*Thereof attributable to IFRS 16 in D&A 46.2m€ (PY: 42.4m€) and in financial result 4.5m€ (PY: 3.6m€)

**Adjusted for exceptional items (+2.5m€) and additional other reconciling factors in D&A (PPA related amortization and impairment losses, +14.2m€), 13

in financial result (+0.1m€) and in income taxes (-1.0m€)

Free Cash Flow Perspective Q3 2021

€
m		 Q
3
2
0
2
0		 Q
3
2
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7.
2

Solid cashflow performance in Q3 2021; Free Cashflow increase in line with earnings development Increase in tax offset by better working capital (working capital development in Q3 2021 as well as Q3 2020 reflects substantial business increase from Q2 to Q3 with an increase of receivables) Stable Capex level to support sustainable dynamic business development Bank leverage ratio* at 2.5 due to dividend payment in Q3 2021; reduction already expected in Q4 2021:CommentFinancial net debtLeverage ratio600.2 640.2 620.9 706.4 30 Sep 202131 Dec 202031 Mar 202130 Jun 20212.282.96 2.30 2.48

*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

Segment Perspective Q3 2021

  • Sales close to pre-Covid level in 2019 and clearly above PY supported by improving market conditions

  • EBITDA adj. on pre-Covid level in 2019

  • Online advertising and content publishing continuously strong; high PY comps

  • Call Center and D2D robust despite a slightly increased employee churn following a tightening labor market

  • Asam and Statista with strong sales growth dynamics

  • EBITDA development includes strongly focused business expansion

Agenda

Group Update Financials Q3 Outlook

2021 – Unchanged Full Year Expectations

Ströer assumes, that the emerging fourth wave of COVID-19 cases will have no material adverse impact on the growth of the OOH business given the progress with vaccination programs and the resulting immunity of large parts of the population.

Against this backdrop, the Board of Management continues to anticipate revenue for the Ströer Group of around EUR 1.6b and EBITDA (adjusted) of between EUR 490m and EUR 510m in 2021 as a whole.

Financial Calendar 2021

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 newinformation, future events or otherwise.

Appendix

Profit and Loss Statement 9M 2021

€
m		 9
M
2
0
2
0		 9
M
2
0
2
1		 %
▲
R
e
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s		 9
8
4
7.		 1,
1
0
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2		 1
1
%
+
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x		 2
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7
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+
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5		 3
1
3.
3		 1
6
%
+
&
*
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%
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(
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4.
1		 8
3.
4		 5
4
%
+

*Thereof attributable to IFRS 16 in D&A 142.1m€ (PY: 133.1m€) and in financial result 13.3m€ (PY: 11.1m€)

**Adjusted for exceptional items (+5.6m€) and additional other reconciling factors in D&A (PPA related amortization and impairment losses, +36.5m€), 22

in financial result (+0.5m€) and in income taxes (-5.8m€)

Free Cash Flow Perspective 9M 2021

€
m		 9
2
0
2
0
M		 9
2
0
2
1
M
(
)
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a
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e		 2
8.
4		 3
7.
6

*Part of cash flow from financing activities **Before M&A and incl. IFRS 16 lease liability repayments

Segment Perspective 9M 2021

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