Ströer SE & Co. KGaA

Investor Presentation • May 8, 2025

Agenda

Group Update

Financials

Outlook

Results Q1 2025

€ m		Q 1 2 0 2 4	Q 1 2 0 2 5	▲
R e e n e s v u	R t d t h e p o r e g r o w	4 5 3 4	4 7 5 5	% 5 +
	( 1 ) O i t h r g a n c g r o w	8 9 % +	3 8 % +	5 1 % t p s -
E B I T D A ( d j t d ) a u s e		1 0 8 4	1 1 7 4	8 % +
E B I T ( d j t d ) a u s e		3 4 7	3 9 7	1 % 5 +
( 2 ) N i ( d j d ) t t e n c o m e a u s e		1 2 5	1 6 2	3 0 % +
F C h F l ( d j d ) t r e e a s o w a u s e		2 4 4 -	3 1 5 -	4 4 % -
C a p e x		1 9 4	1 9 7	8 % -

(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

Q1 2025 Market Dynamics: (D)OoH outperforming the global Ad Markets German Ad Market with positive Momentum in the first three Months

Ströer outperforming legacy media and the OoH market, due to strong digital focus

For strong reach / brand building competence, OoH is the medium of choice today where legacy media more and more fail due to lack of reach.

Source: Company information; Company estimates; ZAW. Note: 1 Legacy media includes TV, Radio, Print, and Cinema.

Ströer DOoH & OoH infrastructure shows high structural net revenue retention of more than 100% combined with very low churn

Note: NRR defined as revenue generated by customers in period n+1 divided by revenue generated by customers in period n for customers that generate revenue both in period n and n+1; Churn defined as % of revenue lost from customers that generate revenue in period n but don't generate revenue in period n+1; ¹Based on top 100 customers for 2023

Ströer sustainable and growing customer demand is reflected in a high revenue retention and sticky customer cohorts…

Source: Company information

… with accelerating demand driven by digital transformation

Source: Company information

Programmatic DOoH is the Future of Out-Of-Home Advertising

ROI-accretive through data-driven, highly targeted and real-time Campaigns

	Oo Tr d i t io l D H a na	Oo Pr t ic D H og ra m m a	Oo W hy t ic D H ies p ro g ra m m a ca rr f ig i ica t p te t ia l s n n o n
D t U t i l i t i a a z a o n	Re l ies l f f ic tra o n g en er a t te d loc t ion p a rn s an a de h ics m og ra p	U i l ize da ly ics fo de i le d t ta t ta s a na r ins ig h ts in to d ie t a u nc e en g ag em en f fe d t ive an e c ne ss	 In fo d de is ion k ing d rm e c -m a a n ig t im iza t io dr ive R O I ca m p a n o p n s
A d i T t i e n c e a r g e n g u	L im i d in io te ta t t rg e g op ns	Nu da ta tr ig m er ou s g er s i la b le fo ta i lo d te t av a r re co n n	 H ig h ly ta te d d lev t a d rg e an re an de l ive t m t o tu ts ry a os p p or ne m om en
S A d t i i d e r s n g p e e v	f a Re ire -b k in d q u s p re oo g o sp ac e	Re l- t im dv t is ing t hr h a e a er ou g to te d ha in / b i d d in au m a p ur c s g g	 S ig i f ica f lex i b i l i ty d t n n an ive ke to t re sp on s ne ss m ar d i ion t co n s

of media plan in Germany will include PrDOoH in the next 18 months33%

of marketers in Germany believe PrDOoH offers the most innovative advertising opportunities of all media channels94%

Successful programmatic cases studies

THE CHALLENGE OUR SOLUTION THE RESULT Increase the relevance of Actimel during the cold season by reaching people in a context where the immune system is particularly stressed. Time targeting - The ads were placed at train stations at the well-known 'rush hour' times when there are lots of people (and cold viruses) on the platforms. Significant increase in purchase intention to 38% (Ix200). 60% spontaneous advertising recall on digital screens. In 6 major German cities, information on the nearest drugstore is to be displayed in the ad to the nearest metre, depending on the location. This gives passersby the impulse to shop in the immediate vicinity. Drive-to-store Push mit Dynamic Creatives. From a single ad template, 133 customised DOoH ads were automatically created and played out in the immediate vicinity of drugstores. the campaign had a significant reach and a positive impact on sell-out.The DOoH campaign will only be played out in those cities in which the advertising pressure target (XRP) on TV was not achieved. L´ORÉAL – Drive to store of a premium beauty brand TV Boost solution from Aeos (all eyes on screens) DOoH generates additional contacts and increases the overall reach by 15ppt to 89%. SHOP APOTHEKE – optimising video / TV campaign using spatial media DANONE – Broad contextual programmatic targeting

Source: Company information

Programmatic digital demand as a growth engine for Ströer's core business …

Source: own data 1OoH Media w/o revenue from Services 2Programmatic DOoH

… supported by Software, Data and AI solutions

SSP Supply Side Platform Platform where the inventory is made available for sale by the provider

2DMP

Data Management Platform Central technology for collecting, analyzing, and activating data from various sources to specifically activate inventory

3DSP

Demand Side Platform Platform on the customer or agency side to purchase public video

12

Source: Company information

Ströer's AI based Creative Analyzer launched in Q1 2025:

Source: Company information

Average DOoH & OoH growth accelerated to double digit numbers driven by the digital transformation

Agenda

Group Update

Financials

Outlook

Profit and Loss Statement Q1 2025

€ m	Q 1 2 0 2 4	Q 1 2 0 2 5	▲
R e v e n u e s	4 3. 4 5	4 7 5. 5	% 5 +
O i t h r g a n c g r o w	8. 9 % +	3. 8 % +	5. 1 % t p s -
( ) E B I T D A d j t d a u s e	1 0 8. 4	1 1 7. 4	8 % +
E i l i t t c e p o n a e m s x	4. 7 -	2. 5 -	% 4 5 +
E B I T D A	1 0 3. 8	1 1 4. 9	% 1 1 +
( 1 ) D i i & A i i t t t e p r e c a o n m o r z a o n	6. 9 7 -	8 1. 3 -	6 % -
E B I T	2 6. 9	3 3. 5	2 5 % +
( 1 ) F i i l l t n a n c a r e s u	1 8. 3 -	1 5. 4 -	1 6 % +
E B T	8. 6	1 8. 2	% 1 0 0 > +
( 2 ) T l t a x r e s u	2. 6 -	4 5. -	1 0 0 % >-
N t I e n c o m e	6. 0	1 2. 7	1 0 0 % > +
( 3 ) A d j t t u s m e n s	6. 5	3. 5	4 7 % -
N I ( d j d ) t t e n c o m e a s e u	1 2. 5	1 6. 2	% 3 0 +

(1)Thereof attributable to IFRS 16 in D&A 52.8m€ (PY: 51.4m€) and in financial result 7.6m€ (PY: 7.7m€)

(2)Tax rate according to IFRS is 29.9% (PY: 29.7%)

(3)Adjusted for exceptional items (+2.5m€) and additional other reconciling factors in D&A (PPA related amortization and impairment losses, +3.7m€), in financial result (-1.2m€) and in income taxes (-1.5m€)

Free Cash Flow Perspective Q1 2025

€ m	Q 1 2 0 2 4	Q 1 2 0 2 5
E B I T D A ( d j t d ) a u s e	1 0 8. 4	1 1 7. 4
E i l i t t x c e p o n a e m s -	4. 7 -	2. 5 -
E B I T D A	1 0 3. 8	1 1 4. 9
I t t n e r e s -	1 4. 2 -	1 1. 7 -
T a x -	1 3. 0 -	1 4. 7 -
/ W C + -	1 9. 0 -	3 9 7. -
/ O h t + e r s -	1 3. 6 -	1 1. 2 -
O C t i h F l p e r a n g a s o w	4 4. 0	3 9. 3
I t t ( b f M & A ) n v e s m e n s e o r e	1 9. 4 -	1 7. 9 -
F C h F l ( b f M & A ) r e e a s o e o r e w	2 4. 6	2 1. 4
( ) 2 L l i b i l i ( I F R S 1 6 ) t t e a s e a r e p a m e n s y y	4 8. 9 -	5 6. 5 -
( 3 ) C ( ) F h F l d j t d r e e a s o w a u s e	2 4. 4 -	3 5. 1 -

(1)Net debt and adj. EBITDA of last 12 month adjusted for IFRS 16 (2)Part of Cash Flow from financing activities; (3)Before M&A and incl. IFRS 16 lease liability repayments

Comment

Q1 cash flow influenced by seasonality and phasing

• Free Cash Flow (adj.) in Q1 below PY as higher earnings contribution contrasted by working capital development (after strong Q4) and higher IFRS 16 lease repayments
• Increase in IFRS 16 lease repayments resulting from higher minimum leases (esp. RBL) and some phasing effects
• Bank leverage ratio(1) with improvement compared to PY and sequentially stable due to higher earnings despite an increase in Net Debt (including the acquisition of RBL Media in Q4 2024)

Segment Perspective – OoH Media

€ m	Q 1 2 0 2 4	Q 1 2 0 2 5	▲
S h f t t e g m e n r e v e n u e, e r e o	1 8 1. 9	2 0 9. 8	1 3 % 5. +
O O H	1 0 6. 3	1 1 5. 2	8. 3 % +
D O O H	6 3. 8	8 1. 3	2 % 7. 5 +
S i e r c e s v	1 1. 8	1 3. 3	% 1 2. 5 +
E B I T D A ( d j t d ) a u s e	3. 1 7	8 6. 3	1 8. 0 % +
( ) E B I T D A i d j t d m a r g n a s e u	% 4 0. 2	% 4 1. 1	% 0. 9 t + p s

Comment

• OoH Media with double-digit revenue and earnings growth in Q1 compared to PY, continuously outperforming the German advertising market; organic growth of 12.8%

• High single-digit increase also in OOH, but still driven in particular by DOOH

• Development positively influenced by the acquisition of RBL Media in Q4 2024 and the federal elections

• Earnings performance with over-proportional increase in EBITDA (adj.) also leads to margin improvement

Segment Perspective – Digital & Dialog Media

€ m	Q 1 2 0 2 4	Q 1 2 0 2 5	▲
S h f t t e g m e n r e v e n u e, e r e o	2 0 3. 4	2 0 6. 2	1. 4 % +
D i i t l g a	9 5. 8	9 8. 1	2. 4 % +
D i l a o g	1 0 7. 5	1 0 8. 1	0. % 5 +
( ) E B I T D A d j t d a s e u	3 1. 2	2 8. 0	1 0. 5 % -
E B I T D A i ( d j t d ) m a r g n a u s e	1 4 % 5.	1 3. 6 %	1. 8 % t p s -

Comment

Digital and Dialog Media with low single-digit revenue growth in Q1

• Revenue growth in Digital driven by continued strong growth in programmatic sales as well as an increase at t-online in a generally very challenging market environment
• Dialog overall at PY level, as Call Centers with double-digit growth rate can compensate for a revenue decline from direct marketing activities
• Lower earnings in the quarter also due to direct marketing activities; Call Centers above and Digital Media at PY level

Segment Perspective – DaaS & E-Commerce

€ m	Q 1 2 0 2 4	Q 1 2 0 2 5	▲
S h f t t e g m e n r e v e n u e, e r e o	9 2. 0	9 0. 9	1. 2 % -
S D t i a a a s a e r v c e	4 0. 1	4 2. 2	5. 2 % +
E- C o m m e r c e	1. 9 5	4 8. 7	6. 2 % -
E B I T D A ( d j d ) t a s e u	1 2. 2	1 1. 4	% 6. 9 -
E B I T D A i ( d j t d ) m a r g n a u s e	1 3. 3 %	1 2. 5 %	0. 8 % t p s -

Comment

• Statista: Ongoing revenue growth in Q1 compared to PY due to continued expansion of business with existing and new national and international customers
• Asam: Sales below high PY comps mainly in international wholesale distribution
• Q1 earnings impacted by sales development at Asam

Agenda

Group Update

Financials

Outlook

Outlook

Q2

• Revenue growth in core business (OOH Media) up to mid single digit against tough prior-year comps (+21% i.e. driven by the UEFA Euro 2024) expected
• pDOOH and DOOH as main growth contributors established
• Digital & Dialog Media with stable revenues
• DaaS & E-Commerce with single digit revenue growth expected

H2

Significant acceleration of group topline growth in H2 expected

Full-year

Guidance for 2025 remains unchanged

Mid- / Long-term

Double digit top-line growth (average) in our core business (OOH Media)

Financial Calendar 2025

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.