Goldman Sachs New York September 12-13th 2018 Agenda 1 2 3 2018 Group Operational Strategy & highlights highlights Outlook 2018 2 Highlights The pan-European leader in Total Video BROADCAST REVENUE Leading free-to-air In € million 3,046 +2.3% channels and growing TV HY 2018: First time over €3 billion VOD services CONTENT Global entertainment brands Record-high in TV and growing catalogue of high-end drama challenging market environments DIGITAL Proprietary tech with HY 2013 HY 2018 TV leading ad-tech stack & global MPNs EBITDA of €638 million 3 Highlights Our long-term track record LOCAL CONTENT AS KEY SUCCESS FACTOR … Consistent revenue since 2014 growth +3% CAGR High EBITDA margins 20.9% in HY 2018 Ever more diversified Non-TV ad revenue revenue mix 52.3% Organic growth 1 … PROVIDING FIREPOWER TO from content & digital +10.3% Digital: +16.3% EXPAND “TOTAL VIDEO” POSITION revenue YoY revenue YoY Notes: 1.Refers to total digital revenue of MGRTL, M6, and RTL NL. 4 Highlights Strong second quarter drives half-year results Q2 revenue +3.6% Q2 EBITDA +4.7% Half-year revenue +2.3% Half-year EBITDA +1.9% 5 Highlights Continued organic growth through a broad and diversified revenue mix RTL GROUP HY 2018 REVENUE SPLIT PLATFORM AND DIGITAL REVENUE In % In € million Groupe M6: Renewal of distribution agreements Platform1 591 Content 167 #1 MPN 1.7x Revenue +20% YoY3 18.7 213 3.8x 424 100 5.5 113 TV advertising 47.7 € 3.0 bn RTL Group: 13.9 HY 2014 HY 2018 Video views +28% YoY 10.0 4.2 3.7% 5.5% % of total RTL Radio advertising Group revenue 4.2% 13.9% Goal: Other Grow direct-to-consumer 2 Digital Platform Digital revenue significantly Notes: 1. Platform revenue defined as revenue generated across all pay platforms (cable, satellite, IPTV) including subscription and re-transmission fees. 2. Excl. e-commerce, home shopping, and platform revenue for digital TV. 3. In EUR, impacted materially by negative FX effects. 6 Looking forward More organic growth initiatives across all our main businesses BROADCAST Expand local video-on-demand services CONTENT Continue push into scripted drama DIGITAL Build global MPNs and ad-tech stack 7 Agenda 1 2 3 2018 Group Operational Strategy & highlights highlights Outlook 2018 8 Mediengruppe RTL Deutschland RTL Group’s largest unit with outstanding profitability … FAMILY OF CHANNELS 14 to 59, HY 2018 MG RTL1 27.3% KEY FINANCIALS +0.5 to 1.5% In € million TV ad market REVENUE EBITDA 34.2% 10.7% margin Others +0.8% 23.5% 6.3% +0.8% 1,061 1,070 10.3% ARD-III 7.0% 363 366 8.6% ARD 9.5% 24.1% ZDF P7S1 2 2 HY 2017 HY 2018 HY 2017 HY 2018 Source: AGF in cooperation with GfK. Notes: 1. MG RTL includes RTL II and Super RTL, excluding pay-TV channels. 2. Re-presented, please see the financial report for details. 9 Mediengruppe RTL Deutschland … and significant audience share lead in most important time slots FAMILY OF CHANNELS 14 to 59, HY 2018 MG RTL1 27.3% ACCESS PRIME TIME PRIME TIME (17 – 20h) 14 to 59, in % (20 – 23h) 14 to 59, in % 10.7% +5.3 pp +3.7 pp Others 23.5% 6.3% 27.5 26.0 22.2 10.3% 22.3 ARD-III 7.0% 8.6% ARD 9.5% 24.1% ZDF P7S1 MG RTL P7S1 MG RTL P7S1 Source: AGF in cooperation with GfK. Notes: 1. MG RTL includes RTL II and Super RTL, excluding pay-TV channels. 10 MGRTL TV On-demand TV Now is outperforming expectations and competition Key growth drivers: PAID SUBSCRIBER AND VIDEO VIEW GROWTH 1 exclusive local in % formats such as GZSZ +42% +44% Successful launch 2 of OTT linear channel: Now US 35.8 Premium service 20.3 3 TV Now Plus: dynamic growth of subscribers HY 2017 HY 2018 HY 2017 HY 2018 Paid subscribers Video views Source: Internal measurement, video views include Connected TV. 11 Groupe M6 EBITDA up driven by growing high-margin platform revenue FAMILY OF CHANNELS Women < 50 responsible for GROUPE M61 21.1% KEY FINANCIALS +1.9% purchases, HY 2018 In € million TV ad market REVENUE EBITDA 14.6% Others -0.5% +2.2% 34.0% 6.5% 743 739 182 4.2% 178 France 3 32.3% 8.4% 2 France 2 Groupe TF1 HY 2017 3 HY 2018 HY 20173 HY 2018 Source: Médiamétrie Notes: 1. Groupe M6 includes M6, W9 and 6ter. 2. Groupe TF1 includes TF1, TF1 Series Films, TFX and TMC. 3. Re-presented, please see the financial report for details. 12 RTL Nederland Advertising market positive; significant jump in EBITDA FAMILY OF CHANNELS 25 to 54, Prime time, HY 2018 RTL Nederland 27.7% KEY FINANCIALS +3.2% In € million TV ad market REVENUE EBITDA 16.2% Others 26.6% +5.7% +68.4% 228 241 11.5% 32 19 25.4% 20.3% 2 1 Pubcaster Talpa TV HY 2017 3 HY 2018 HY 20173 HY 2018 Source: SKO Notes: 1. Talpa TV: SBS6, Net 5, Veronica & SBS 9. 2. Pubcaster: NPO 1, NPO 2 & NPO 3. 3. Re-presented, please see the financial report for more details. 13 FremantleMedia Good revenue growth despite negative FX effects REVENUE BRIDGE HY 2017 – HY 2018 In € million EBITDA +66 (43) In € million 639 +10 672 Acquisitions Net growth FX effects 42 42 +5.2% HY 20171 HY 2018 HY 20171 HY 2018 Increased content aired in first six months of 2018 to 6,202 hours Notes: 1. Re-presented, please see the financial report for details. 14 FremantleMedia Drama launches to come – and expected timing of delivery 2018 2019 Q4 Q1 Q2 Q3 Q4 (s3) L’Amica Geniale Beecham House Dublin Murders The Luminaries Deutschland 86 Charite (s2) The Rain (s2) Baghdad Central Baghdad Central International drama expected to be more than 20% of revenue in 2019 Selection of drama slate 15 Agenda 1 2 3 2018 Group Operational Strategy & highlights highlights Outlook 2018 16 Strategy 2018 More organic growth initiatives in two main areas 1 Video-on-demand: Build local streaming champions 2 Content production: Continue push into scripted drama, explore new genres Leverage pan-EU scale to drive organic growth 17 01 VOD Strategic priority #1: Video-on-demand Hybrid product strategy to attract mass audiences HYBRID “FREEMIUM” APPROACH Illustrative Hybrid 7+ day TV Exclusive content on-demand business Basic TV Premium Pre-TV and archive Full ad load model on-demand Upsell on-demand Low ad load SD quality (Ad-funded) (Pay) HD quality Live signal 01 Grow local content investments Key priorities 02 Utilising common VOD tech platform across the Group across the Group 03 Develop hybrid business model 18 01 VOD Strategic priority #1: Video-on-demand We are massively expanding our direct-to-consumer businesses Upcoming major relaunch Combining Videoland & RTL XL Salto in France More exclusive content with + clear goal to build mass-market German streaming service Merged product will Provides one-stop-shop +44% Paid subscriber growth strengthen user proposition for “Best of TV” content and conversion to pay-tiers for young audiences Paid subscriber growth; Registered users +42% Video view growth +122% viewing time >22m on 6play service – up by 204% strong upsell funnel 19 02 CONTENT Strategic priority #2: FremantleMedia Expansion into scripted drama is paying off INTERNATIONAL DRAMA REVENUE NEW IN 2018 COMING IN 2019 In % of total FremantleMedia revenue Working titles Drama Other +9 pp nd nd rd Picnic at Hanging Rock 2 season 2 season 3 season My Brilliant Friend Baghdad Central Beecham House The Luminaries Currently seeking funding for at least 35 The Rain Dublin Murders scripted series ideas 11% 2% 11 production hubs around the world HY 2015 HY 2018 Deutschland 86 (Sequel) for scripted formats 20 Summary We are re-inventing RTL’s pioneering spirit 1 Clear consumer focus 2 More Group-wide collaboration 3 Foster organic growth initiatives 4 Persistent and long-term approach 21 Outlook Maintain financial guidance for full-year 2018 2018 Guidance – Growth Rates REVENUE OUTLOOK Revenue expected to grow In % and € million moderately1, in line with 1 previous guidance Low High +2.5% 6,532 +5.0% 6,692 EBITDA OUTLOOK In % and € million 1,464 EBITDA 2018 EBITDA expected to be 1,370 broadly stable in 2018 One-off +1% 1,384 2 gain on a normalised basis -1% 1,356 2017 Reported 2017 Operational EBITDA EBITDA Notes: 1. Excluding exchange rates effects. 22 Disclaimer This presentation is not an offer or solicitation of an offer to buy or sell securities. It is furnished to you solely for your information and use at this meeting. It contains summary information only and does not purport to be comprehensive or complete, and it is not intended to be (and should not be used as) the sole basis of any analysis or other evaluation. No representation or warranty (express or implied) is made as to, and no reliance should be placed on, any information, including projections, estimates, targets and opinions, contained herein, and no liability whatsoever is accepted as to any errors, omissions or misstatements contained herein. By accepting this presentation you acknowledge that you will be solely responsible for your own assessment of the market and the market position of RTL Group S.A. (the "Company") and that you will conduct your own analysis and be solely responsible for forming your own view of the potential future performance of the Company’s business. This presentation contains certain forward-looking statements relating to the business, financial performance and results of the Company and/or the industry in which the Company operates.