SIC, SA Informs on 2020 Results

2020 RESULTS

SIC - Sociedade Independente de Comunicação, S.A. Share Capital: Eur 10,328,600 Head Office: Rua Calvet de Magalhães, n.º 242, 2770-022 Paço de Arcos NIPC 501 940 626 Commercial Registry Office of Cascais

Contents

1. ANALYSIS OF THE CONSOLIDATED ACCOUNTS ...... 3

2. AUDIENCES ...... 4

3. SIC 2019-2022 BONDS ...... 6

4. AWARDS ...... 6

5. OPTO and ADVNCE ...... 8

6. OUTLOOK ...... 8

2020 RESULTS

SIC's Net Income exceeded M€ 17.3 in 2020

(values in Euros) 2020 2019 var % EBITDA increased by 12.9%, reaching M€ 30.5.

SIC led the Totalaudiences Revenues with a share of 20.1%,178 089 the 666 best 181result 870 since149 2013-2,1%. Television 152 168 537 155 249 404 -2,0% SIC achieved Publishinga 51.3% market share of advertising23 272 833 investment24 188 391 among-3,8% generalist channels. 2020 year wasInfoportugal marked by& Others the launch of the2 139 OPTO 588 and 2ADVNCE 233 365 projects-4,2%. Intersegments 508 708 198 988 155,6%

Operating Costs (1) 146 979 160 156 768 853 -6,2%

1. ANALYSISTotal EBITDA OF THE CONSOLIDATED31 110 506 ACCOUNTS25 101 296 23,9% EBITDA Margin 17,5% 13,8%

Television 30 489 830 27 002 248 12,9% Publishing 3 035 176 274 654 1005,1% (values(valores(valores in emEuros) em €) €) 20202020 201920192019 varvarvar %% % Infoportugal(valores & Others em €) -2 4142020 500 -2 1752019 605 -11,0%var %

RevenuesReceitasReceitas 152152152 168 168 537 537 155155155 249 249249 404 404 404 -2,0%-2,0%-2,0% Receitas 152 168 537 155 249 404 -2,0% TotalAdvertising PublicidadeEBITDAPublicidade (2) 993199 829 395829 998 471998 10510510527 743 727 743743 980 134980 980 13,2%-5,6%-5,6%-5,6% Publicidade 99 829 998 105 743 980 -5,6% EBITDAChannelSubscriçãoSubscrição Margin Subscriptions Canais (2) Canais 3232 939 17,6%939 603 603 3434 34308 15,2% 308308 874 874 874 -4,0%-4,0%-4,0% Subscrição Canais 32 939 603 34 308 874 -4,0% Multimedia IVR IVR 1616 201 201 650 650 1111 11278 278278 342 342 342 43,7%43,7% IVR 16 201 650 11 278 342 43,7% DepreciationOtherOutrasOutras revenues receitas receitas 3 19753 335197 285 362285 3 918353 918849918 209 209 203209 -18,4%-8,8%-18,4% Outras receitas 3 197 285 3 918 209 -18,4%

EBITCustos Operacionais (1) 12125 678 775 707 144 12819 247 252 157 094 33,9%-5,1% OperatingCustosCustos Costs Operacionais Operacionais (1) (1) (1) 121121121 678 678 707 707 128128128 247 247247 157 157 -5,1%-5,1%-5,1% EBIT Margin 14,5% 10,6% EBITDAFinancial Results 30-8 489 890 830 025 27 -7002 330 248 997 -21,3%12,9% EBITDAEBITDAEBITDA 3030 489 489 830 830 272727 002 002002 248 248248 12,9%12,9%12,9% EBITDAMargemMargemMargem Margin EBITDA EBITDA EBITDA (%) (%) (%) (%) 20,0%20,0%20,0% 17,4%17,4%17,4%17,4% Res.EBITDAEBITDA EBITDABefEBITDA (2) Taxes (2) (2) (2) & Minorities 301630 76630 885766 766 249 119249 249 2828 112819128 191 921191191 439 439 096439439 41,6%9,1%9,1%9,1%9,1% MargemProvisionsMargemMargem EBITDA EBITDA EBITDA (2) (2) (%)(2) (%) (%) 20,2%55820,2%20,2% 001 18,2%34118,2%18,2% 400 63,4% EBITDA Margin (2) (%) 20,2% 18,2% Income Tax (IRC)(-) 5 106 880 3 743 776 36,4% NetResultados ProfitResultadosResultados Líquidos Líquidos Líquidos 171117 32517 220325 325 398 238398 398 1515 319715 835319 319 909 909921 909 43,2%13,1%13,1%13,1%

Notes: EBITDA = Operating Results + Amortisation and Depreciation + Provisions + Impairment in non-current assets. (1) Does not consider Amortisation and Depreciation, Provisions and Impairment Losses in non-current assets. (2) EBITDA adjusted for restructuring costs.

SIC achieved total revenues of €M 152.2, In the 1st quarter of 2020, a pre- reflecting a 2% reduction, as a result of the pandemic period, SIC's positive decline observed in all revenue streams, performance in all lines of with the exception of IVRs. advertising revenues stood out in

particular, with year-on-year

Advertising revenues reached M€ 99.8, growth of 9%. corresponding to a 5.6% reduction

compared to 2019. IVR revenues grew by 43.7%, having reached M€ 16.2. SIC achieved a 51.3% market share of advertising investment among the The 5.1% reduction (M€ 6.6) in operating generalist channels, having grown by 1.4 costs was higher than the reduction of p.p. compared to 2019. revenues (M€ 3.1), giving rise to a 12.9%

Subscription revenues generated by the increase in EBITDA to M€ 30.5. EBITDA 8 SIC channels, distributed over cable and adjusted for compensations amounted satellite, in Portugal and abroad, fell by 4% to M€ 30.8. in 2020 to M€ 32.9. This decrease was The net income recorded in 2020 mainly due to the negotiation of contracts exceeded M€ 17.3, corresponding to with international operators. growth of 13.1%.

2. AUDIENCES

SIC ended 2020 as audience leader in the The interview of António Costa on Jornal universe of generalist channels, with an da Noite, on 16 March, was the most average share of 20.1% in terms of watched information programme, with consolidated data. This figure was 0.6 p.p. 1,893,300 television viewers. higher than in the same period of the previous year, with SIC being the only FTA The comedy programme, Isto é Gozar Com channel to have increased in total Quem Trabalha, presented by Ricardo television. Araújo Pereira, premiered in March, leading with historic results, and with the 26 April edition having been the entertainment programme with the In 2020, SIC audiences attained their largest audience in best annual result since 2013. 2020.

SIC consolidated its leadership in prime time, in the universe of generalist Excluding football matches, the 5 most channels, with an average share of 24.3% watched information and entertainment in terms of consolidated data, which programmes of Portuguese television represented an increase of 2.4 p.p. in were broadcast by SIC in 2020. relation to 2019, and the only increase in

total television.

This result was driven by the performance SIC's universe of channels ended the of the fiction products broadcast on year leading with a share of 22.9% and prime time, namely the soap operas 23.1%, respectively. Nazaré, Terra Brava, Golpe de Sorte, A Dona do Pedaço, Amor de Mãe and SIC's subscription channels achieved a Totalmente Demais, as well as the market share of 3.8%, for the year as a weekend whole. entertainment: A Máscara, Isto é Gozar SIC Notícias continued ranked in the Com Quem Trabalha, first place of the information channels, 24 Horas de Vida, A with a share of 2.2%, having risen by 0.4 Árvore dos Desejos, Estamos Aqui, Olha p.p. year-on-year. Por Mim, Terra Nossa, Quem Quer Namorar com o Agricultor?, O Noivo é que This channel achieved its best result ever Sabe and Patrões Fora. in terms of number of television viewers (50,400), in addition to the best result in SIC continued unbeatable in day time. SIC terms of market share and stronger was leader in the mornings, with a share of differentiation in relation to the direct 20.2%, and in the afternoons, with a share competition, since the beginning of the of 18.6% share, in terms of consolidated GfK audience measurement panel (March data. 2012).

Regarding the rest of the thematic In information, Primeiro Jornal and Jornal channels, SIC Mulher achieved a market da Noite were the most watched share of 0.8%, SIC k reached 0.4%, SIC K throughout the 7 days of the week. This reached 0.3% and SIC Caras reached success was also driven by the different 0.2%. items broadcast, such as Opinião de Luís Marques Mendes, O Polígrafo, SIC Investigations and Feature Stories, Casos In 2020, the aggregate SIC brand de Polícia, 15|25, in addition to the daily websites attained the highest ever coverage of the developments related to monthly average of Unique Visitors: the Covid-19 pandemic. 2,317,452. This value represents growth of 27.6% in relation to the period between As a whole, generalist and thematic SIC January and December 2019. closed 2020 with a market share of 23.9%, reflecting growth of 0.6 p.p. compared to 2019. In the commercial targets, A/B C D 15/54 and A/B C D 25/54,

3. SIC 2019-2022 Bonds

SIC 2019-2022 Bond Prices The SIC 2019-2022 Bonds, listed for 108 trading on regulated markets (Euronext

Lisbon), on 10 July 2019, ended the year of 104 2020 trading above par (100.81%), having fluctuated between 95% and 104.99% 100

Price (%) Price 100 Price (%) Price during this period. 96 96 The average number of bonds traded in 92 each session of the year was 17,230. 92 jan-20 fev-20 mar-20 abr-20 mai-20 jun-20

jul-20

set-20

jan-20

fev-20

jun-20

abr-20

out-20

dez-20

ago-20

nov-20

mai-20 mar-20

Data: Euronext

4. AWARDS

In January 2020, SIC was Honourable Mention in the same category, attributed the Five Stars for the feature story “E de nós, quem Award 2020, in the "TV – cuida?”. Generalist Channels" category. The station repeated this feat at The SIC Grande Reportagem “Ensaio the end of the year, by also winning the sobre a saúde na Guiné-Bissau”, by Dulce Five Stars Award 2021, in the same Salzedas, Rafael Homem and Luís category. Gonçalves, was distinguished with the First Human Rights & Integration SIC also won the Consumer Journalism Award 2019 - UNESCO Choice Award in the National Commission. The Grande “Generalist Channel” category, Reportagem “Visíveis”, by Sofia Pinto with SIC Notícias having won Coelho and Mariana Teófilo da Cruz as “Information Channel”. received the same Award in the 2020 edition. The Portuguese Society of Authors In the second half of the year, SIC also gave the Best Information Programme received two Reputation Awards, Award to the Grande Reportagem attributed by Executive Digest and by the “Plástico Nosso de Cada Dia”, by Carla consultant OnStrategy, as well as the Castelo. Marketeer Award – TV Media. The Best Journalistic Work prize of the Two SIC feature stories were distinguished Apifarma Journalists Club, in the with the António Sérgio Cooperation and category, was awarded to the feature story Solidarity Award 2019: João Faiões “No Coração do Hospital”, by Catarina received the Journalism Award for the Marques. feature story “Nós ainda estamos aqui”, and Catarina Marques received an

At the Marketing Awards of the magazine Best Lead Actress Meios & Publicidade, “O Programa da Mariana Monteiro (Terra Brava) Cristina” and “O Polígrafo” received the Best Secondary Actor Silver Award. The initiative “Tenho Cancro Renato Godinho (Terra Brava) e Depois” of SIC Notícias, in partnership with Novartis, received the Bronze Award. Best Secondary Actress Laura Dutra (Nazaré) The journalist Paula Castanho was distinguished with an honourable mention Revelation Award in the Journalism Awards of the Guilherme Moura (Nazaré) Portuguese League Against Cancer for the piece “Cancro da Próstata”, of the SIC Two SIC soap operas, produced by SP Mulher programme “Retratos da Saúde”. Televisão, were commended in the 21st edition of the World Media Festivals – The feature story “Entregues à Sorte”, by Television & Corporate Media Awards. Amélia Moura Ramos, received the AMI Terra Brava and Nazaré won the Gold Award – Journalism Against Medal and Silver Medal, Indifference, and the First Prize in the respectively, in the “Soap “Television” category, in the “Children's Opera” category. Rights in News” Journalism Awards. In this last one, honourable mentions were In October, SIC's entertainment and also awarded to two feature stories by Ana information once again saw its quality Catarina Marques (“Em Nome dos Pais, distinguished in the Impala Television dos Filhos e do Espírito Livre” and “O Todo Trophy's: é Maior que a Soma das Partes”) and to two feature stories by Pedro Manuel Best Soap Opera Coelho (“Via Sacra” and “Amina: Uma Nazaré jovem Afegã entre dois Mundos”). Best Lead Actor With regards to entertainment, SIC was Afonso Pimentel (Nazaré) distinguished in the Fantastic Awards Best Cast Actor 2020, in the following categories: João Baptista (Terra Brava)

Best Entertainment Programme Best Generic Music Árvore dos Desejos Mariza (Terra Brava) Best Presenter Best Series João Manzarra (Árvore dos Desejos) Golpe de Sorte Best Magazine or Cultural Programme Best Actress of a Series À Descoberta Com… Maria João Abreu (Golpe de Sorte) Best Soap Opera or Daily Series Best Comedian Nazaré César Mourão Best Lead Actor Best Entertainment Programme José Mata (Nazaré) Terra Nossa

Best Social Programme The Fifth Channel Awards 2020 Passadeira Vermelha distinguished Isto é Gozar com quem Best Information Programme Trabalha (Best Entertainment Jornal da Noite Programme), A Máscara (Revelation of the Year Programme), César Mourão (Best Best Male Journalist / Presenter Entertainment Presenter), Clara de Sousa Rodrigo Guedes de Carvalho (Best Female Journalist) and Rodrigo Best Female Journalist / Presenter Guedes de Carvalho (Best Male Clara de Sousa Journalist). Best Female Journalist / Reporter Conceição Lino SIC was once again distinguished in the Best Commentator M&P Creativity in Self-Promotion & Luís Marques Mendes Innovation in the Media Awards, having Best Cultural Information Programme been awarded with Gold, Silver and Bronze Cartaz Cultural in various categories in which it was nominated.

5. OPTO and ADVNCE

At the end of 2020, SIC moved forward with ADVNCE, launched in December, is two innovative projects in Portugal: available on the distribution platforms, being a project for hosting the eSports OPTO, a streaming service launched in community. November, is pioneer in the sale of subscriptions of exclusive audiovisual contents.

6. OUTLOOK

2020 was an atypical year due to the COVID-19 pandemic. In view of the uncertainty that persists, IMPRESA and SIC will continue to implement procedures to protect the health of their employees, monitor the economic implications of COVID-19, and in particular the identification of potential sources of risk for the activity of their subsidiaries.

SIC, as the other IMPRESA's brands, has already showed its strength and resilience, reflected in a positive operational performance.

In 2021, we have the task to consolidate the results achieved in 2020, focusing on the market leadership, together with a rigorous cost control and a careful risk monitoring, aiming at the continuous improvement of operating margin and reduction of net debt.

The two projects launched under the Strategic Plan for 2020-2022, OPTO and ADVNCE, will be accelerated in 2021, and IMPRESA will also continue to expand its activity to new platforms and thus reach new and larger audiences.

As the largest Portuguese media group, IMPRESA is aware that its brands play a particularly important role in times such as the one we live in, where up to date, rigorous and credible information along with stimulating entertainment are decisive in the response to the present pandemic context.

SIC and the other IMPRESA brands, on their various platforms, will fulfil, as always, the mission of public interest of this Group: • to inform Portuguese society with the independence and rigour that is expected from them and to transmit in a clear way the important institutional messages; and • provide entertainment that promotes the enjoyment and well-being of their different audiences.

Paço de Arcos, 18 March 2021

On behalf of the Board of Directors

Cristina Barroso Paulo Miguel dos Reis

Management Control and Investor Relations Director Strategic Execution Director