Creating new growth CMD 2014 Financials – Axel Salzmann ProSiebenSat.1 Media AG | October 15, 2014 | October 15, 2014 Page 1 Our achievements since 2009 2009 - 2013 Market cap increase >EUR 6bn Net debt reduction EUR 1.85bn Underlying net income growth ~EUR 200m Dividends paid ~EUR 2bn p.a. | October 15, 2014 Page 2 ProSiebenSat.1 – financial milestones in H1 2014 H1 2014: continued solid revenue, recurring EBITDA and underlying net income growth ✔ Delivery of key financials in line with our FY 2014 and medium-term targets ✔ ‘Investment grade‘-style financing structure implemented ✔ Attractive dividend yield ✔ | October 15, 2014 Continuing operations. Page 3 H1 2014: strong key financials H1 2014 Revenues +7.1% +6.6% +EUR 84.6m +EUR 22.1m | October 15, 2014 Continuing operations. Recurring EBITDA Recurring EBITDA margin 28.2% Page 4 Digital & Adjacent segment with increasing contribution to Group profits [in EURm, H1 2014, prior year in parentheses] External revenues Recurring EBITDA 4.5% (4.3%) 15.1% 20.0% (17.6%) -0.3% (0.5%) (13.1%) -1.2 56.7 Broadcasting German-speaking 255.1 1,272.2 960.4 54.6 Digital & Adjacent Digital & Adjacent 359.3 75.5% | October 15, 2014 Continuing operations. 1 Group recurring EBITDA after elimination of EUR 2.3m. 1 Content Production & Global Sales Content Production & Global Sales (78.1%) Broadcasting German-speaking 308.2 85.2% (86.4%) Page 5 2015 Group revenue target to be reached at year-end 2014 Group revenues [in EURm] 3.000 2.500 Estimated H2 revenue growth 2.000 1.500 1.000 2.690 ~2,850 2.851 H1 2014 (LTM) 2014E 2015 Target We expect to reach our 2015 Group revenue target already at year-end 2014 2.051 500 0 2010 | October 15, 2014 Continuing operations. Page 6 All segments ahead of pro-rata 2018 revenue growth targets [Achievement by H1 2014, in EURm] 2012-2018 Degree of achievement 34.8% 32.5% 34.6% 33.4% 1.000 1,000 800 600 600 400 200 0 334 300 105 Broadcasting German-speaking 195 | October 15, 2014 100 35 Digital & Adjacent CMD 2018 target Continuing operations. 25.0% linear projection of CMD target Content Production & Global Sales Group Achievement by H1 2014 Page 7 We are well on track to reach our medium-term Group revenue growth targets LTM Group revenue development and targets [in EURm] 3.250 3.000 2.750 2.500 2.250 2.000 1.750 EUR 147m rec. EBITDA increase further rec. EBITDA increase at industry-leading margin 1.500 Reported LTM revenues | October 15, 2014 Continuing operations. Initial 2015 target projection New 2015/18 targets projection Initial 2015 target New 2015/18 targets Page 8 Steady improvement of revenues and rec. EBITDA since initiation of growth strategy Group LTM revenues [in EURm, %] LTM rec. EBITDA/rec. EBITDA margin [in EURm, %] 2.900 950 35,0% 2.700 900 30,0% 2.500 850 25,0% 2.300 800 20,0% 2.100 750 15,0% 1.900 700 10,0% 1.700 650 5,0% 1.500 600 0,0% Revenues Recurring EBITDA (left scale) Recurring EBITDA margin (right scale) | October 15, 2014 Continuing operations. Page 9 Net debt reduction by EUR >1.5bn since 2010 has driven net interest result improvement of >EUR 100m Net debt [in EURm] LTM net interest result [in EURm] 3.500 -225 3.000 -200 2.500 -175 2.000 -150 1.500 -125 1.000 Year-end 2014 estimate: ~EUR 1.5bn 500 -100 -75 0 Average Net Debt | October 15, 2014 Continuing operations. Note: Net debt calculated on rolling four consecutive quarters corresponding to LTM net interest result development Net interest result Page 10 Financial performance since 2012 ahead of targeted 2018 CAGRs Group financials and targets/CAGRs 2012-18 [in %] Achievement vs. remaining target CAGR by H1 2014 Gap-to-go CAGR +9.2% +5.0% +3.6% +2.1% Digital & Adjacent +35.7% +13.5% Content Production & Global Sales +22.9% +9.5% Recurring EBITDA +6.0% +3.4/+4.6% Underlying Net Income +6.1% >+6.1% Group revenues Broadcasting German-speaking | October 15, 2014 Continuing operations. Page 11 We have a long debt maturity profile at attractive terms Senior unsecured financing structure Debt facilities [in EURm, 06/30/2014] • No debt maturity before April 2019 2.000 RCF (undrawn) 600 1.500 No debt maturity and improving interest result 1.000 Term Loan 1.400 500 Corporate Notes bond 600 • Going forward, we are targeting a staggered maturity profile by using debt capital market instruments 0 H2 2014 H1 2015 H2 2015 H1 2016 | October 15, 2014 H2 2016 H1 2017 H2 2017 H1 2018 H2 2018 April 2019 H2 2019 H1 2020 H2 2020 April 2021 Page 12 We confirm our financial policy and acquisition strategy Financial leverage target range1 1.5-2.5x ✔ Dividend pay-out ratio2 80-90% ✔ Acquisition strategy | October 15, 2014 Continuing operations. 1 Net debt/LTM recurring EBITDA 2 Based on Underlying net income larger bolt-on and media investments ✔ Page 13 We update our 2014 financial targets FY 2014 targets Group revenue growth High-single digit Recurring EBITDA Above prior year Net income Above prior year Financial leverage | October 15, 2014 Continuing operations. 1 before: mid to high-single digit increase 1.5 – 2.5x Page 14 Disclaimer This presentation contains "forward looking statements" regarding ProSiebenSat.1 Media AG ("ProSiebenSat.1") or ProSiebenSat.1 Group, including opinions, estimates and projections regarding ProSiebenSat.1's or ProSiebenSat.1 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 ProSiebenSat.1 or ProSiebenSat.1 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 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 ProSiebenSat.1 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 ProSiebenSat.1 or ProSiebenSat.1 Group. ProSiebenSat.1 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. | October 15, 2014 Page 15