Investor Presentation Fourth Quarter 2019 Televisa at a Glance 2019 Share of Revenue and OSI* CABLE CONTENT A leading cable Advertising operator Four broadcast channels in Mexico in Mexico City and affiliated stations Video throughout the country 4.3 millon RGUs Network Subscription 25 pay-tv networks Broadband 4.7 millon RGUs Licensing & Syndication 43% Univision royalties, other 31% OSI* 39% Voice licensing fees, and exports % OSI* 3.6 millon RGUs to over 70 countries 33 Cable Content 22% OSI* SKY A leading DTH system in Mexico and broadband provider, also operating in Central America and the Dominican 20% Republic Sky Video: 7.4 millon RGUs Broadband: 386 thousand RGUs *Operating segment income (OSI) is defined as operating income before corporate expenses, depreciation and amortization, and other expense, net. For a RGUs: Revenue Generating Units. DTH: Direct to Home reconciliation of total operating segment income with consolidated operating income, see Note 25 to our year-end consolidated financial statements. 2 2019 Operating Highlights The transformation of Televisa continued in 2019 with many milestones • Double digit growth in Revenue and Operating Segment Income • Reached 12.7 million Revenue Generating Units (RGUs) • Solid operating metrics with low churn CABLE • Positioned IZZI as the premier aggregator of OTT offers • Resumed growth in video RGUs with positive net adds each of the last three quarters SKY • Continued building scale in the broadband business • Launched new, innovative formats with great success • Reassigned resources and increased production values • Achieved strong viewership levels CONTENT • Launched TUDN, a sports JV with Univision 3 2019 Consolidated Financial Results Steady Revenue and OSI1 growth, declining capital intensity Revenue OSI1 Ps. in billions Ps. in billions 101.3 101.5 96.3 94.3 88.1 41.0 80.1 40.3 38.9 37.5 35.7 32.3 non-recurring licensing of certain rights of the World Cup 2014 2015 2016 2017 2018 2019 2014 2015 2016 2017 2018 2019 • Consolidated revenue growth of 3.0% and OSI1 growth of 5.4%* • Ongoing financial discipline with cost and expenses declining by Ps.579 million • Strong balance sheet: Net Debt to OSI1 of 2.3x and average maturity of 16.9 years 4 1Operating segment income (OSI) is defined as operating income before corporate expenses, depreciation and amortization, and other expense. *Excludes the non-recurring licensing of certain rights of the World Cup 4Q’19 Consolidated Financial Results Fastest pace of growth in Operating Segment Income (OSI1) in five quarters Revenue OSI1 Ps. in billions Ps. in billions 28.0 27.3 26.7 26.0 24.0 25.0 11.1 10.9 10.4 9.9 9.9 10.2 4Q'14 4Q'15 4Q'16 4Q'17 4Q´18 4Q´19 4Q'14 4Q'15 4Q'16 4Q'17 4Q´18 4Q´19 • Revenue and OSI1 growth of 4.7% and 6.6%, respectively • Stabilization of ad sales during the quarter, and US$101 million in Univision royalties • Cable added 115 thd. RGUs, a sequential improvement vs 3Q’19 • Sky added 67 thd. broadband RGUs and 17 thd. video RGUs 5 1Operating segment income (OSI) is defined as operating income before corporate expenses, depreciation and amortization, and other expense. Cable: 12.7 million customer relationships Broadband and voice continue to be the main drivers of growth Total RGUs RGU Mix Millions • Added 811 thd. RGUs 12.7 11.8 18% 29% • Broadband market share 10.1 9.7 reached 24.4% 9.0 33% 6.9 37% • By year-end, reached 15.3 million homes passed 49% 34% • A telecom network of 140 thd. kilometers, 32% is 2014 2015 2016 2017 2018 2019 2014 2015 2016 2017 2018 2019 fiber Video Data Voice Video Data Voice 6 Cable: Continues to grow at a steady pace After heavy investments in infrastructure, Operating Cash Flow (OCF2) keeps expanding Revenue OSI1 OCF2 Ps. in billions Ps. In billions Ps. in billions 41.7 5.3 17.8 36.2 3.9 15.3 33.0 3.0 31.9 14.0 13.2 28.5 11.4 20.9 7.9 -1.4 -4.3 -4.8 2014 2015 2016 2017 2018 2019 2014 2015 2016 2017 2018 2019 2014 2015 2016 2017 2018 2019 • In 2019, double digit growth in Revenue and in OSI1 of 15.1% and 16.3%, respectively • Organically, excluding Axtel acquisition in December 2018, OSI1 expanded by 11.4% • Operating Cash Flow (OCF2) reached Ps.5.3 billion, a y-o-y growth of 76.6% 7 1Operating segment income (OSI) is defined as operating income before corporate expenses, depreciation and amortization, and other expense. 2Operating Cash Flow (OCF) is defined as Operating Segment Income minus capital expenditures in properties, plant and equipment Cable: 2020 Goals With our extensive infrastructure, we will continue to focus on: • Growing our share of broadband further • Resuming growth in video subscribers CABLE • Strengthening position as aggregator of OTT offers • Expanding Operating Cash Flow1 8 1Operating Cash Flow is defined as Operating Segment Income minus capital expenditures in properties, plant and equipment. Sky: Over 7 million customers Broadband has become an attractive ad-on to many pay TV households Total Broadband RGUs RGUs Millions Thousands 386 • By year-end 2019, over 319 7.8 million combined 8.0 8.0 7.7 7.8 7.3 video and broadband 6.6 238 RGUs 165 • Added 294 thousand 92 broadband RGUs during the year 2014 2015 2016 2017 2018 2019 4Q´18 1Q´19 2Q´19 3Q´19 4Q´19 9 Sky: Transforming it into a telecom operator Pressure in margins has been necessary to build scale in broadband Revenue OSI1 OCF2 Ps. in billions Ps. in billions Ps. in billions 22.2 21.9 22.0 21.3 19.3 9.9 10.1 9.8 17.5 6.3 9.0 9.1 5.9 8.2 5.3 3.5 3.7 3.1 2014 2015 2016 2017 2018 2019 2014 2015 2016 2017 2018 2019 2014 2015 2016 2017 2018 2019 • Operating Cash Flow (OCF2) reached Ps.5.3 billion • Capital expenditures have been strong to support foray into broadband 10 1Operating segment income (OSI) is defined as operating income before corporate expenses, depreciation and amortization, and other expense. 2Operating Cash Flow (OCF) is defined as Operating Segment Income minus capital expenditures in properties, plant and equipment Sky: 2020 Goals With its more than 7 million pay-tv customers, Sky will continue to build a telecom presence: • Offering attractive bundles • Launching packages with faster speeds SKY • Targeting new markets within its footprint • Launching new broadband services 11 Content Division: An unmatched audience reach We produce the content that people choose to watch on broadcast TV Ratings % of Ratings % of Network Program (mm) Pop. Network Program (mm) Pop. Televisa ¿Quien es la mascara? 8,219 6.5% CBS Big Bang Theory 13,381 4.1% Televisa Silvia Pinal frente a ti 7,484 5.9% CBS NCIS 12,663 3.8% Televisa Mi marido tiene más familia 7,195 5.7% NBC This Is Us 12,502 3.8% Televisa La Voz Kids 6,810 5.4% NBC Agt Champions 12,394 3.8% Televisa Amar a muerte 6,273 5.0% NBC America's Got Talent 11,666 3.5% Televisa La Rosa de Guadalupe 6,253 4.9% NBC Chicago Fire 11,536 3.5% Televisa La Usurpadora 6,225 4.9% NBC Chicago Med 11,174 3.4% Televisa Una Familia de Diez 3 6,085 4.8% NBC Chicago Pd 11,061 3.4% Televisa Una Familia de Diez 2 6,055 4.8% NBC Manifest 10,913 3.3% Televisa Pequeños Gigantes 5,900 4.7% FOX Masked Singer 10,676 3.2% • Broadcast is a key form of entertainment in Mexico, above the U.S. as a % of population • In 2019, the top 10 programs in Mexico’s broadcast TV were produced and transmitted by us • These included three comedies, three game shows, three dramas, and one bio-epic • Our top production reached 60% more viewers* than the top production in the U.S. in 2019 12 Source for Mexico: National projection based on Nielsen IBOPE’s audience measurement of the 28 largest cities of Mexico. Sports not included in ranking. *As a percentage of total population. Source for US: Nielsen US national sample. Content: Multiple windows to choose from Televisa is a relevant participant in every platform Four Broadcast Networks in Mexico Exports (70+ countries) 25 Pay TV Networks OTT & Digital • We are in the unique position to choose how and where we monetize our content • Broadcast Television continues to be the most effective way to do so • We are expanding our expertise in Digital and OTT and gradually building scale 13 Content Division: A production powerhouse After a multi-year restructuring phase, business is stabilizing Revenue OSI1 OCF2 Ps. in billions Ps. in billions Ps. in billions 39.23 36.7 34.9 34.8 34.3 34.0 13.1 12.1 3 15.5 11.9 13.1 14.6 14.7 14.93 10.8 10.6 12.8 12.6 2014 2015 2016 2017 2018 2019 2014 2015 2016 2017 2018 2019 2014 2015 2016 2017 2018 2019 • In 2019, revenue was down 4.6% mainly due to drop in government advertising • Core private sector ad revenue was down 1.8% due to macro uncertainty in 1H’19 • Strong performance of our content in Univision resulted in U.S.$389.1 million in Royalties • Operating Cash Flow (OCF2,4) was approximately in line with 2018 1Operating segment income (OSI) is defined as operating income before corporate expenses, depreciation and amortization, and other expense.