BROADCASTING SEMINAR GROUPE M6

S’ÉTONNER, VIBRER, PARTAGER INTRODUCTION GROUPE M6 IN A NUTSHELL

Powerful and consistent 3 radio Major content Second largest Leading-edge Optimized TV channel portfolio of 4 stations, of producer and Sales house in positioning on digital portfolio of st FTA and 13 thematic TV which RTL, 1 distributor France Pioneer on the French diversifications channels private station AVOD market with 6play leveraging Group in France key assets of which M6, 2nd private Shareholder of SALTO, First channel in France local SVOD player Founder of Bedrock, builder of direct-to-consumer 24m viewers per day 11m listeners per day Cinema, TV & Digital 1,1bn turnover streaming services

Strong synergies & mutualization

Medias Sales house Digital Production & distribution Diversifications

FTA channels Pay TV Overseas TV Radio TV Cinema

33%

42% 50%

TV/Digital 32% 49%

2 STRONG FY2020 STRONG FY2020 AGILITY TO FACE THE HEALTH CRISIS Adapt the content offer . News reinforcement . Creation of new contents (Tous en Cuisine,…) . Enhancement of cross media synergies TV/Radio/Digital

Economic slowdown Launch a wide savings plan

4 STRONG FY2020 AGILE BUSINESS MODEL TO FACE THE HEALTH CRISIS

ECONOMY LOCKDOWN WIDE SAVINGS PLAN

Turnover Operating costs decrease -€183m decrease +€169m

-€127m -€55m +€68m +€30m +€72m

Business taxes Other costs Advertising Non-advertising Content costs revenues revenues

THANKS TO ITS OPERATIONAL AGILITY: M6 GROUP COMPENSATES THROUGH SAVINGS 93% OF ITS DECLINE IN REVENUES

5 OPERATIONAL EBITA MARGIN NET INCOME €270.7M 21.3% €276.6M +1.7 point

Second highest Highest since Second highest historical level 20 years historical level

6 LONG TERM STRATEGY LONG TERM STRATEGY GROUPE M6 UNIQUE POSITIONING TO KEEP CAPTURING FUTURE GROWTH

1 2 3 4

BRANDS & REVENUES DIGITAL DIVERSIFICATIONS CONTENT

• Strong & • Powerful • Leading-edge • Virtuous and differentiating advertising sales positioning pragmatic brands house (2nd largest based on 3 diversification in France) pillars (AVOD, strategy • Leading content SVOD, streaming producer • New growth technology) opportunities (addressable TV & Distribution)

8 CONTENT & BRANDS 1 STRONG & DIFFERENTIATING BRANDS

25% commercial target Unique new success th Best season since 8 years Historical highest season adapted to the lockdown – 4.1M viewers, 15 season synergies with CuisineAZ

Successful talkshow Content and cost 32% commercial target 33% commercial target broadcast both on M6 synergies from the 4.5M viewers 4.4M viewers and RTL Radio integration of Gulli

9 Source: Médiamétrie CONTENT & BRANDS 1 LEADING CONTENT PRODUCER

TV & DIGITAL PRODUCTION CINEMA PRODUCTION & DISTRIBUTION

• Content production becoming more and more a • Successful cinema producer: 11 co-productions critical issue and prices of strategic and critical in 2019, +13m cinema visits contents are expected to continue to rise (sport rights, fiction…) • Third largest French movies distributor

• Strong in-house production subsidiaries enable M6 • +1,000 films in catalogue Group to control content costs (25% of total programming costs) as well as to secure strategic • French animation studio contents

• Digital video producer through internal MCN Golden

10 REVENUES 2 POWERFUL ADVERTISING SALES HOUSE

SECOND LARGEST ADVERTISING SALES HOUSE GROUPE M6 ADVERTISING SALES HOUSE IN FRANCE HAS BEEN CONTINUALLY STRENGTHENING • WIDE AND RICH OFFER ON OVER THE YEARS POWERFUL OFFLINE MEDIA, TARGETING A BROAD & COMPLEMENTARY AUDIENCE

• STRONG DIGITAL OFFER (VIDEO, INFLUENCE, THEMATIC GROUPE M6 TV ADVERTISING PORTALS) MARKET SHARE +1.3pts • TAYLOR MADE OFFER 2018/2019 INCLUDING CROSS-MEDIA, EDITORIAL AND EVENT 2020 PROMOTION 27.3% 27.4%* 26.1% STRONG SIZE EFFECT: NEGOTIATING POWER & ECONOMIES OF SCALE

• INTERNAL & EXTERNAL GROWTH (RTL RADIOS & GULLI ACQUISITIONS)

11 * M6 estimates. REVENUES 2 NEW GROWTH OPPORTUNITIES

ADDRESSABLE TV DISTRIBUTION REVENUES

• M6 Group already partnered with distributors • Significant revenue stream for M6 Group (Orange, Bouygues Telecom) to propose experiencing a sustained growth addressable TV: first campaign on air during 2021 fall • Ability to propose and monetize massive audiences to distributors

• Addressable TV market expected to • New partnerships with digital players (e.g. represent €100 to €200M in three years in deal Facebook Watch) France* • Growth expected over the next years • Progressive growth expected over the next notably by continuing to propose innovative few years but definitively the near future of services TV advertising : power & targeting

12 *M6 estimates. DIGITAL 3 LEADING-EDGE POSITIONING ON DIGITAL BASED ON 3 PILLARS

AVOD SVOD TECHNOLOGIES

• Pioneer on the French market with • Ability to partner with its key • Strong expertise developed: the launch of 6play in 2008, competitors to launch a new service building direct-to-consumer anticipating the catch-up growing streaming services importance • Differentiating positioning vs. US giants, focusing on local and TV • Already strategic external clients • Strong growth experienced over related contents SALTO, RTL Netherlands, RTL the past years, notably through an Belgium, RTL Hungary … innovative strategy of exclusive • Promising launch: 20% of the SVOD contents growth captured since December • Promising ongoing discussion with large foreign broadcasters • Despite strong regulation and barriers 16.3m from the Competition Authority active monthly users Ambition Ambition 1.3bn Become the SVOD local leader Become the European leader with an international footprint viewed video in 2020

13 DIVERSIFICATIONS 4 VIRTUOUS DIVERSIFICATION STRATEGY

SELECTION OF SUCCESSFUL PAST DIVERSIFICATIONS SELECTION ON CURRENT PORTFOLIO

Leading French photo DIGITAL COMMERCE CONTENT product provider • Book value: €95m Exit 2018: c. €39m • European commerce content leader Detention 42% (cashback & couponing)

Girondins de Bordeaux FC REAL ESTATE Exit 2018: c. €100m • +600 real estate “franchised” branches

Detention 49%

FINTECH Long-term partnership with Orange • Onboarding fintech +€400m contribution Detention 32% • Partnerships with all major French retail banks

ONLINE FURNITURE Credit card with Crédit Agricole • +40% growth pe/y since Media for Equity deal targeting a young audience with M6 Convertible bonds 14