GRUPO ANTENA 3 PRESENTATION TO INVESTORS

European TMT Conference Deutsche Bank

September 2011 1 WHAT THE PLAYING FIELD LOOKS LIKE

2 HOW WELL WE ARE PLAYING THE GAME

2 Antena 3_European TMT Conference_DB_Sep 11 1 WHAT THE PLAYING FIELD LOOKS LIKE...

...ANTENA 3’

3 Antena 3_European TMT Conference_DB_Sep 11 Total advertising market (I)

Total Ad market evolution

In €

 +43% 7,985 -30% Ad market is 0%

currently at 5,631 5,850 5,575 2003 levels

2003 2004 2005 2006 2007 2008 2009 2010 2011*

Source: Infoadex * Consensus

4 Antena 3_European TMT Conference_DB_Sep 11 Total advertising market (II)

Market share by media

41.6% TELEVISION  42.3% 39.5% TV keeps leading. NEWSP.& Radio stays stable MAGAZ. 27.3%

13.5% 9.1% RADIO 9.4% 8.4% OTHERS 7.6% 1.3% INTERNET

2003 2010

Source: Infoadex

5 Antena 3_European TMT Conference_DB_Sep 11 TV advertising market

TV Ad market vs GDP

2003=100

TV Ad/GDP 0.31% 0.23% 

Spanish TV Ad market GDP overreacted to GDP drop

Total Ad TV Ad

2003 2004 2005 2006 2007 2008 2009 2010

Source: Infoadex for TV Ad + BdE for GDP. In nominal terms

6 Antena 3_European TMT Conference_DB_Sep 11 TV habits in Spain

TV viewing

Average daily viewing in min

 +24 min/viewer 234 TV viewing is 227 226 still increasing 223

218 217 217 213 211 210 208

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010

Source: Kantar Media

7 Antena 3_European TMT Conference_DB_Sep 11 TV: best competitive position

Competitive position by media

88% Coverage by media

58%  50% 4 38% 42% TV, the highest coverage and the best price

13.3 10.0 CPT by media 8.2 In €

3.1 2.7

TV Radio Magazines Press Internet

Source: Coverage: 2rd EGM survey 2011; CPT 2010 (Cost per thousand): Internal estimates

8 Antena 3_European TMT Conference_DB_Sep 11 Audience share by channel

Audiences 2011 YTD

14% 

Clear audience 10% fragmentation

6%

2%

Source: Kantar Media

9 Antena 3_European TMT Conference_DB_Sep 11 Competitive landscape

Number of FTA TV players

In € million

3,469 TV Ad market

 2,472 2,317 2,378 Number of players is adjusting to Ad market 8 7 6 6 4

Net TV/ Veo TV 

2003 2011

Source: Infoadex

10 Antena 3_European TMT Conference_DB_Sep 11 Market share concentration

Market share by FTA TV players

Antena 3 / Mediaset  53% 75% Private FTA TVs Two main players hold 12% 75% market share La Sexta Veo TV/Net TV 2%

16% Forta 10% Public FTA TVs TVE 30%

2003 2011e

Source: Infoadex

11 Antena 3_European TMT Conference_DB_Sep 11 Radio habits in Spain

Radio listening

Number of radio listeners in Spain (thousands)

 +2.1 million listeners The highest number 24,174 of listeners ever seen 23,117

22,489 22,299 22,030 22,062 21,456 21,718

1ª 04 1ª 05 1ª 06 1ª 07 1ª 08 1ª 09 1ª 10 1ª 11

Source: EGM Moving Average

12 Antena 3_European TMT Conference_DB_Sep 11 2 HOW WELL WE ARE PLAYING THE GAME...

...ANTENA 3’

13 Antena 3_European TMT Conference_DB_Sep 11 Antena 3’

A3 vs TV Ad market

% Ad revenues growth yoy 24% 20% 18%  Antena 3 TV 12% 6% Ten consecutive 6% 12% -3% quarters outperforming 6% TV Ad market -10% 2% 1% -3%

-24% -11% -14% -29% -19% -26% TV Ad Market -34% Q109 Q209 Q309 Q409 Q110 Q210 Q310 Q410 Q111 Q211

Source: Infoadex

14 Antena 3_European TMT Conference_DB_Sep 11 Antena 3’

Advertising market outlook

30.1% 28.3% 26.3% 27.9%  26.2% 24.1% 24.6% 22.4% The highest market 1.3x 1.3x 1.3x 1.8x share over the last years 1.7x 1.4x 21.3% 1.3x 1.5x 20.8% 19.6%

Market share 17.8% 17.0% 16.6% Power ratio 16.5%

Audience share 15.8%

2004 2005 2006 2007 2008 2009 2010 1H 11

Source: Infoadex + Kantar Media

15 Antena 3_European TMT Conference_DB_Sep 11 Antena 3: Audience shares

Audience shares

In %

26.0 25.9 25.1  +0.8pc

A3, the best performance 24.7 23.5 22.8 -1.9pc in audience share 16.5 16.5 over the last year 15.1 +1.4pc

11.5 10.4 10.6 -0.9pc 7.7 6.8 6.7 +0.9pc

1H 10 2H 10 1H 11

Source: Kantar Media

16 Antena 3_European TMT Conference_DB_Sep 11 Antena 3, a well-balanced grid

Our programming grid

 Talk shows Our best asset:

A varied and balanced grid Entertainment

News

Fiction & Cinema

17 Antena 3_European TMT Conference_DB_Sep 11 Advertising bundling: An unique commercial approach

Advertising bundling

55-64 

Advertising bundling, Age a succesful strategy

4-12

Male Female

Advertising bundling

18 Antena 3 – OPEX evolution

Antena 3’

In real terms

CAGR: -0.4%  558 544

Discipline in costs, Group OPEX CAGR: +0.9% ambitious outsourcing 454 process achieved 426

TV OPEX

2003 2004 2005 2006 2007 2008 2009 2010

Source: A3´s financial statements

19 Antena 3_European TMT Conference_DB_Sep 11 Antena 3’

A3´s performance vs Ad market

In € 3,469

TV Ad market 2,472  2,317 2,378 A3’ 878 Well positioned for

688 a recovery in Ad market 604

539 EBITDA margin 35% 21%

21% 569 ’ 536 543

426

2003 2004 2005 2006 2007 2008 2009 2010

Source: Infoadex + A3´s financial statements

20 Antena 3_European TMT Conference_DB_Sep 11 Antena 3 Radio (Uniprex)

Number of listeners

In ‘

4,055

 x2 87

Antena 3 Radio, 1,476 doubling the number of listeners 2,132

2

162

2,492

1,968

2nd 05 2nd 11

Source: EGM surveys

21 Antena 3_European TMT Conference_DB_Sep 11 Antena 3 Radio (Uniprex)

Antena 3 Radio’

 Audience share Market share Antena 3 Radio, excellent position UNIPREX UNIPREX Others to gain size 16% Others 24% 23% COPE 14% 42% 2nd 11 H1 11

35% 46% SER SER

Source: EGM, 2nd Survey 2011, Infoadex

22 Antena 3_European TMT Conference_DB_Sep 11 Antena 3 Multimedia

Internet division

CONTENTS DISTRIBUTION EXPLOITATION 

Revenue-based strategy INTERNET From TV ADV. in multimedia (in house REVENUES production) (i.e. Preroll)

MOBILE Exclusive OTHERS Content (i.e. Prepay, (i.e El Sótano) online game,..) SOCIAL NETWORKS

23 Antena 3_European TMT Conference_DB_Sep 11 Antena 3 Multimedia

Internet division

In mill 53.9  6.8

Strong performance in 4.8 26.3 every business indicator 3.5

13.4 x2 x4

2009 2010 H1 11 2009 2010 H1 11

Unique Users Video streams (monthly avg) (monthly avg)

Monthly average Source: OJD/Nielsen Market Intelligence/ Smartadserver

24 Antena 3_European TMT Conference_DB_Sep 11 Conclusions

When the going gets tough, the tough get going

In pole position to ride the wave of Ad growth

Fit enough to do things our way

Antena 3, challenges are opportunities

25 Antena 3_European TMT Conference_DB_Sep 11 GRUPO ANTENA 3

Committed with Corporate Social Responsability: Back up slides

27 Antena 3_European TMT Conference_DB_Sep 11 Consolidated Group

1H 11 Results in €

1H 11 1H 10 YoY

Net Revenues 420.9 422.7 -0.4%

OPEX 342.9 336.8 +1.8%

EBITDA 77.9 85.9 -9.3% EBITDA Margin 18.5% 20.3%

Net profit 54.0 57.6 -6.4% Net profit Margin 12.8% 13.6%

Source: Antena 3’

28 Antena 3_European TMT Conference_DB_Sep 11 Television division

1H 11 Results in €

1H 11 1H 10 YoY

Programming Costs 166.1 152.7 +8.8%

Personnel Costs 35.0 49.2 -28.9%

Source: Antena 3’

29 Antena 3_European TMT Conference_DB_Sep 11 Radio division

1H 11 Results in €

1H 11 1H 10 YoY

Net Revenues 48.4 48.8 -0.8%

OPEX 35.2 34.9 +1.0%

EBITDA 13.2 13.9 -5.1% EBITDA Margin 27.3% 28.5%

EBIT 11.5 12.4 -7.2% EBIT Margin 23.7% 25.3%

Source: Antena 3’

30 Antena 3_European TMT Conference_DB_Sep 11 Additional information

Investor Relations Department

Phone: +34 91 623 46 14 E-mail: [email protected] Web: www.grupoantena3.com

Legal Notice

The information contained in this presentation has not been independently verified and is, in any case, subject to negotiation, changes and modifications. None of the Company, its shareholders or any of their respective affiliates shall be liable for the accuracy or completeness of the information or statements included in this presentation, and in no event may its content be construed as any type of explicit or implicit representation or warranty made by the Company, its shareholders or any other such person. Likewise, none of the Company, its shareholders or any of their respective affiliates shall be liable in any respect whatsoever (whether in negligence or otherwise) for any loss or damage that may arise from the use of this presentation or of any content therein or otherwise arising in connection with the information contained in this presentation. You may not copy or distribute this presentation to any person. The Company does not undertake to publish any possible modifications or revisions of the information, data or statements contained herein should there be any change in the strategy or intentions of the Company, or occurrence of unforeseeable facts or events that affect the Company’ -looking statements with respect to the business, investments, financial condition, results of operations, dividends, strategy, plans and objectives of the Company. By their nature, forward-looking statements involve risk and uncertainty because they reflect the Company’ -looking statements contained herein. The information contained in this presentation does not constitute an offer or invitation to purchase or subscribe for any ordinary shares, and neither it nor any part of it shall form the basis of or be relied upon in connection with any contract or commitment whatsoever.

31 Antena 3_European TMT Conference_DB_Sep 11