Broadcasting German-speaking

Broadcasting German-speaking Thomas Ebeling, Conrad Albert October 10, 2012 October 10, 2012 Page 1

Agenda 1 Strong fundamentals of TV 2 P7S1 with strong audience share position 3 4 Positive sales outlook Strong and steady growth from basic Pay TV and HD distribution October 10, 2012 Page 2

Consumers continue to purchase advanced TV screens Devices sold, growth rates y-o-y [in percent] More than 10m TV devices sold +7% Thereof 3.4m 3D TVs +113% Thereof large screens (Revenue share of screens >42") 22% October 10, 2012 Page 3 Source: BITKOM 2012 Forecast, August 22, 2012; possible rounding differences ; Sales 42'' Screens gfu, GfK: Studie CE Markt 2011

Big screens driving TV consumption Flat screens are entering the living room TV technology in the living room [in percent] with a positive effect on TV consumption Effects of flat screen technology on TV consumption [2011, in percent] 60 40 46 59 53 40 I'm enjoying my favorite programs even more now TV now is much more stirring 40 48 20 With the new screen, TV is something far more special 58 0 Flat Screen CRT Screen 2010 2011 I'm watching programs much more concentrated 67 October 10, 2012 Page 4 Source: TNS, Kartographie der TV-Wohnzimmer 2010 and 2011

Smart TV usage with limited impact on linear Television Share of TV households owning TV equipment that can connect to the Internet 84% 25% 1% Share of habitual users 18% 2011 2012e 2013e 2014e 2015e October 10, 2012 Page 5 Source: TrendOne, Media Perspektiven 04/2012, GfK Retail and Technology, Informa, McKinsey Connected TV Quantitative Survey 2011

Internet usage still low, reducing probability of disruptive change Smart TV connection-rate and usage 2012 [in percent of HH] 16.5 9.4 6.2 3.9 2.1 SmartTV in HH Connected to Internet Already used SmartTV-services Usage at least once per month Usage at least once per week October 10, 2012 Page 6 Source: Landesmedienanstalten, TNS: Digitalisierungsbericht 2012

Audiovisual media continues to dominate media consumption Average daily usage in Germany [in minutes, 14-49 years] CAGR 250 200 TV 205 min. +1% 150 100 Online 92 min. +12% 50 0 Print 2002 2004 2006 2008 2010 2011 2012 27 min. -3% October 10, 2012 Page 7 Source: SevenOne Media, forsa, Enigma GfK, mindline Note: Online since 2008 without passive usage

In the young target group TV is the lead medium with stable consumption Average daily usage in Germany [in minutes, 14-29 years] CAGR 200 150 TV 147 min. -1% 100 50 Online Print 130 min. +15% thereof approximately 22% online video usage 22 min. -5% 0 2002 2004 2006 2008 2010 2011 2012 October 10, 2012 Page 8 Source: SevenOne Media/mindline 2012; Online since 2008 without passive usage Online video usage: SevenOne Media/mindline 2011

Parallel usage of TV and Internet clearly increases, but parallel Internet activity topics set by TV Parallel usage of TV and Internet [in percent, 14-49 years] 3.1x 59 19 30 of parallel users use online content 69% with TV reference 2002 2007 2012 October 10, 2012 Total Basis (14-49 years): 657 cases (unweighted); 433 cases (weighted); parallel use at least infrequently content with TV Page 9 Basis: 3,085 cases (unweighted); 2,738 cases (weighted) reference: information on the current TV program; information on products in TV program Source: SevenOne Media/mindline Information on products in TV advertising; Discussion of show in social communities; Source: SevenOne Media/mindline

Unrivaled daily reach The power of TV The power of ProSiebenSat.1 49m viewers per day 19m viewers per day 14m viewers per day 11m viewers per day October 10, 2012 Page 10 Source: AGF/GfK-Fernsehforschung, TV Scope, Fernsehpanel (D+EU), Adults 14+, consecutive usage of at least 1 minute per average day in January 2012

TV has strongest emotional power Medium for strongest emotions [in percent] Other Internet Radio Print 5 4 4 15 72 TV October 10, 2012 Page 11 Which medium is most emotional, is most likely to make you cry or laugh? Basis: n=1,000 persons 14+; Source: forsa

TV is cost efficient compared to other media types Net CPT ranges [in Euro] 50 40 15 15 25 10 5 0.5 TV Newspapers Magazines Online October 10, 2012 Page 12 Source: Solon estimate; CPT = Cost per thousand

TV generates high long-term ROIs Based on 25 analyzed brands 1.9 Average Long-term ROI 72% of all analyzed brands Long-term-ROI >1 October 10, 2012 Page 13 Long-term ROI : ROI after 5 years, ROI = ratio of additional sales revenues / TV ad spend Source: GfK / SevenOne Media Based on a TV investment net / gross ratio of 43%

Advertising market TV growing at the expense of Print Usage vs. net media mix Germany 2011 [in percent] Net media mix Germany, 2000, 2011 and 2015 [in percent] 5% 56% 66% 56% 51% 39% 26% 24% 26% 27-29% Usage TV Print Net Media Mix Share 2000 2011 2015e TV Print October 10, 2012 Page 14 Source: Media usage 2011 (n=1,000) mindline media, SevenOne Media; Net media mix: ZAW; since 2007 SevenOne Media estimate

Despite fragmented German TV channel landscape, only 6 channels in Relevant Set smaller stations gaining share 82 TV broadcast stations receivable Only 15 TV broadcast stations in use (min. 10 minutes per month) Since 2006 only 6 channels in 'Relevant Set' (80% share of viewing) Adding: Only 8 channels for 90% share of viewing October 10, 2012 Page 16 Adults 14-49 years Relevant Set : channels which draw at least 80% of TV usage time, basis: All TV households Germany [D+EU] Source: AGF/GfK Fernsehforschung / TV Scope, SPSS / GfK, ProSiebenSat.1 TV Deutschland GmbH / Audience Research [TH]

While average number of channels doubled, 'Relevant Set' remained stable but fragmentation of market will continue Received, and in 'Relevant Set' broadcast stations 41 52 63 73 82 90 5 6 6 6 6 6 2004 2006 2008 2010 2012 2015e Ø number of receivable channels Ø number of Relevant Set channels October 10, 2012 Page 17 Adults 14-49 years 'Relevant Set': channels which draw at least 80% of TV usage time, basis: All TV households Germany [D+EU] Source: AGF/GfK Fernsehforschung / TV Scope, SPSS / GfK, ProSiebenSat.1 TV Deutschland GmbH / Audience Research [TH], 2015 own estimate

P7S1 channels with stable or positive rating development in German-speaking countries Audience shares [in percent] 2009 2010 2011 Germany 28.8% 28.5% 28.9% Austria 17.3% 19.2% 20.1% Switzerland 16.3% 16.3% 16.1% October 10, 2012 Page 18 Basis for Germany: all German TV households (Germany + EU), 14-49 years; Mon-Sun, 3-3h. Source: AGF/GfK Fernsehforschung/TV Scope/ProSiebenSat.1 TV Deutschland Audience Research. Switzerland: Swiss channels SAT.1, ProSieben, kabel eins; key demographic 15 49, since 2011 include solely the use of the Swiss signal/program window. Figures for A, CH are based on 24 hours in key demographics (Mon-Sun)

Our German stations have outperformed key competitor in sports year Audience shares [in percent] -0.8%pts -2.4%pts 28.5 27.7 29.8 27.4 YTD 2011 YTD 2012 YTD 2011 YTD 2012 October 10, 2012 Page 19 Basis: YTD = Jan-Sep, all German TV households (Germany + EU), 14-49 years; Mon-Sun, 3-3h, RTL Group excl. RTL II with 6.3% YTD 2012 (Jan-Sep 2011: 5.5%); Source: AGF/GfK Fernsehforschung / TV Scope / ProSiebenSat.1 TV Deutschland Audience Research

Attractive content highlights secured for 2013/2014 Leading casting show Top European football Leading in sitcoms Best in German fiction Awarded with Die Goldene Kamera Second season starting on October, 18 2012 21 world class football games Four German teams qualified Three new US sitcoms: 2 Broke Girls Suburgatory Mike & Molly Four new German drama series including: Es kommt noch dicker Der Cop und der Snob October 10, 2012 Page 20

We leverage our core assets through new channels and line extensions targeting attractive audiences Female 30-44 years Best Ager 49-64 years High Income 45-59 years MAXX Launched Launch Q1 2013 Launch 2013/2014 Audience share potential 0.5-2.0% per channel October 10, 2012 Page 21

P7S1 channel positioning and growth opportunities: SAT.1 and ProSieben line extensions strengthen station family Target group structure male MAXX old young new channels existing channels female October 10, 2012 Page 22 Source: AGF/GfK Fernsehforschung / TV Scope / Audience Research [BS] / ProSiebenSat.1

Strong foundation of growth for existing TV channels Attractive studio line-up Recruited key talent from competition Holger Andersen RTL II Berlin-Tag & Nacht Sascha Naujoks RTL Bauer sucht Frau Klaus Henning RTL Program planning Wolfgang Link RTL DSDS New creative process established Slot-based development priorities Rigorous creative process management Top rate improved from 23% (2010) to 41% (YTD 2012) October 10, 2012 Page 23 Source: AGF/GfK Fernsehforschung / TV Scope / Audience Research

Our strong response to fragmentation challenges and to non-linear viewing competition 1 2 3 4 5 6 7 8 New line extensions Institutionalize TV 3.0 initiatives Ping Pong between TV and Online More live formats (reality and must see ) Strong branding of channels/slots Further drive efficiency Increase distribution on all platforms Further improve viewing experience October 10, 2012 Page 24

Outlook remains positive line extensions and sixx as growth drivers Share of viewing, 14-49 years [in percent] 28.0 28.8 28.5 28.9 28.5-28.8 28.5-30.0 MAXX 2008 2009 2010 2011 2012 2015 Sports year Sports year Estimate; sports year Estimate October 10, 2012 Page 25 Basis: all German TV households (Germany + EU), 14-49 years; Mon-Sun, 3-3h. Source: AGF/GfK Fernsehforschung/TV Scope/ProSiebenSat.1 TV Deutschland Audience Research

ProSiebenSat.1 with leading position in the TV advertising market Gross TV advertising market share [in percent] 42.5 35.3 October 10, 2012 Page 27 Note: TV-Split Nielsen H1 2012, Nielsen Media Research

We are inventing new ad forms for a better ad impact: Special thematic ad breaks Green break Beauty stars Men's finest Perfect balance Focus on environmental protection and sustainability For customers from the beauty, luxury, fashion or lifestyle segment For men specialized products such as cars, technology products For health products, health food, sports goods October 10, 2012 Page 28

Theme days with high audience and advertiser relevance GreenSeven Red Nose Day Wedding Day Tolerance Day Documentaries, movies and magazines raise the awareness for environmental topics When kids suffer, it's up to all of us to help - donations go directly to youth assistance projects sixx celebrates the first wedding anniversary of Prince William and Princess Catherine with romantic movies for the whole day Stars brought together in a TV and social media campaign to encourage mutual respect October 10, 2012 Page 29

We are No.1 in product placement and branded entertainment Fans of the TV show Germany's next Topmodel become fans of the brand Opel Through sponsoring, placement, TV spots, online, and licensing, the Opel Corsa attracts high attention and almost 100,000 new potential buyers! October 10, 2012 Page 30

Market research firms expect continued growth in German TV advertising German net TV ad market estimates 2013 +2.2% +1.9% +1.2% October 10, 2012 Page 31 Source: ZenithOptimedia Advertising Expenditure Forecasts September 2012, Warc International Ad Forecast June 2012, PwC Global entertainment and media outlook 2012-2016

Strong arguments against main market risks TV losing to Online vs. Real habitual smart TV usage probably low until 2015 TV remains lead medium for audio visual content No successful Online without successful TV formats TV offers superior value to advertisers [Details next page] TV price decline/ increased fragmentation vs. Strong price recovery after Lehman crisis Relevant and powerful reach continues to drive price premium Economic downturn vs. German-speaking territories still very attractive markets [Details on following pages] October 10, 2012 Page 32

Why we do believe that Online video growth has limitations 1 2 3 4 Real habitual smart TV usage probably low until 2015 Bandwidth/quality of service restrictions especially for live events Consumers do not connect or do not use Internet TV remains lead medium for audio visual content TV has unparalleled trailer power (e.g. P7S1 EUR 400m gross media spend) Demand for lean-back entertainment prevail Even in the young target group TV is the lead medium with stable consumption No successful Online without successful TV formats Key traffic driver for Online are successful TV formats Investments in TV content many times higher than in Online Online has limited content inventory TV offers superior value to advertisers TV offers new interactive ad opportunities (HbbTV) TV generates high long-term ROIs Compared to Online TV is cost efficient October 10, 2012 Page 33

Encouraging economic indicators for German-speaking countries Unemployment rate and GDP growth [in percent] Unemployment rate 2012e 2013e GDP growth 2012e 2013e Germany 6.8% 6.8% 1.2% 2.0% Austria 4.3% 4.4% 0.8% 1.6% Switzerland 2.9% 3.3% 0.9% 1.9% EU 15 10.8% 11.1% -0.1% 0.9% October 10, 2012 Page 34 Source: GDP growth estimates: OECD Economic Outlook No 91, data extracted: September 25, 2012; unemployment rate estimates: Germany 2012: Deutsche Bundesbank, Austria 2012: OECD, Switzerland 2012: State Secretariat for Economic Affairs; unemployment rate estimates 2013: Bloomberg consensus/weighted average; unemployment rate estimates EU 15: OECD

14 2013 12 2011 Significant future growth potential of FTA private TV ad market From Probabilized market potential 2015 vs. 2010 [in EURm] 1 2 Print vs. TV fair share/media mix Pricing opportunities 100 45 3 Ad intensity recovery 10 4 Expand target groups 25 5 New markets (e.g., lottery, betting) 80 6 Ban of public broadcaster sponsoring 25 7 8 Regional advertising Transaction models (e.g., HbbTV) 45 20 Total probabilized market potential ~EUR 350m thereof P7S1 ~EUR 150m Source: P7S1 estimates October 10, 2012 Page 35

1. Fair share vs. Print main growth driver for TV and Online Media usage and net media mix 2011 [in percent] 18% 5% 39% 7% 56% 26% 1pp increase in media mix equals ~EUR 150m for the market ~EUR 138m for the private market ~EUR 60m for P7S1 Usage TV Print Online Net Media Mix Share October 10, 2012 Page 36 Source net media mix: ZAW data, excluding direct mail and directories, including display (banner and video), excluding Search and affiliate Source Usage: SevenOne Media,mindline / Basis 14-49 years: 6,432 cases (unweighted); 6,063 cases (weighted)

1. TV and Online are the media mix winners Development of net advertising share by media in Germany [in percent] 2000 2009 2011 TV 24.4% 25.0% 26.1% Online 0.8% 5.5% 6.8% Print 65.9% 58.9% 56.2% October 10, 2012 Page 37 Based on ZAW data, excluding direct mail and directories, including display (banner and video), excluding Search and affiliate Source: ZAW; OVK; Screen Digest; McKinsey

1. Due to stable economy and TV catch up in net media mix German market to outperform other European markets Y-o-y change TV ad spends 2012e vs. 2011 [in percent] 2.2% -2.8% -1.0% -2.6% -8.0% -16.0% Western Europe October 10, 2012 Page 38 Source: ZenithOptimedia, Advertising Expenditure Forecasts, September 2012

2. Strong recovery of net CPT drives market growth Net TV ad market, net CPT [Index: 2009 = 100] 100 100 109 110 112 115 111 103 1pp net CPT increase equals ~EUR 20m for the market ~EUR 18m for the private market ~EUR 8m for P7S1 1 2009 2010 2011 2012 October 10, 2012 Page 39 1 Assumption: 50% of price increase leads to market growth, 50% to decrease in sold minutes. Basis: All TV-HH, A 14-49, CPT: 9-channel market Source: AGF/GfK Fernsehforschung, DAP TV Scope, Zenith Optimedia Net TV ad market 0.15 0.15 Net CPT n/a

3. Improvement of German TV ad intensity would offer upside potential Ad intensity: TV advertising market 2011 [as percent of GDP] 0.38 0.01% improvement in ad intensity equals 0.15 0.17 0.17 0.23 0.20 0.21 0.19 ~EUR 250m for the market ~EUR 230m for the private market ~EUR 100m for P7S1 Reaching European average would mean EUR 1.0bn for the TV ad market 2007 Western Europe October 10, 2012 Page 40 Source: Zenith Optimedia Advertising Expenditure Forecasts July 2011

3. Germany with a relatively small number of advertisers Total TV advertisers 2011 Total = 3,286 Total = 1,707 Total = 3,612 Total = 2,247 Total = 1,621 October 10, 2012 Page 41 Source Publitalia study; Italy - Nielsen; Germany - Nielsen; UK - Nielsen; Spain - Infoadex; France: TNS Mediametrie/Kantar Media

4. We leverage our core assets through new channels and line extensions new sources of business Print magazines Print and public stations Public stations and male oriented channels MAXX Launched Launch Q1 2013 Launch 2013/2014 October 10, 2012 Page 42

5. Strong potential for betting customers Probabilized revenue potential private TV ad market [in EURm] 80 25 8 17 40 13 27 65 22 43 27 53 New 'Gambling Treaty' ('Glücksspielstaatsvertrag') valid since July 1, 2012. Lottery/betting customers will be allowed to advertise nationally after getting the required licenses/permissions 2012e 2013e 2014e 2015e Lottery Betting & poker schools October 10, 2012 Page 43 Source: P7S1 own rough estimate

6. Significant upside potential through ad ban on public stations Revenue potential [in EURm] ~235 market Potential customers currently limited to public broadcaster advertising ~65 market 25* Ban sponsoring on public stations Ad ban on public stations P7S1 share ~12 ~107 October 10, 2012 Page 44 Source: P7S1 own estimate *After 8pm and weekends/bank holidays (starting 2013)

7. First successful step into regional TV ad market 2012: Successful pilot projects with Kabel BW and Unitymedia Regulatory clearing for full roll-out in process Probabilized upside potential of ~EUR 50m for the market ~EUR 45m for the private market ~EUR 21m for P7S1 National airing with regional rebates as fall-back option October 10, 2012 Page 45

8. HbbTV Interaction-based advertising models generate additional revenues HbbTV combines the strengths of TV and Online in one device Unrivaled daily reach of TV Direct response channel + Additional revenues from interaction-based advertising models (e.g., leads, coupons) October 10, 2012 Page 46

Backloading of key growth topics (e.g., regional advertising) might lead to increased growth Initiatives 2011 2012 2013 2014 2015 1 Print vs. TV fair share/media mix 2 3 4 5 Pricing opportunities Ad intensity recovery Expand target groups New markets (e.g., lottery, betting) MAXX 6 Ban public sponsoring 7 Regional advertising Testing phase 8 Transaction models (e.g., HbbTV) October 10, 2012 Page 47

Update 2012: Focus on private TV ad market and consideration of probabilities leads to EUR 350m market potential German private net TV ad market [maximum potential, in EURm] 3,681 414 115 230 35 102 300 92 47 5,016 1,335 3,681 German private net TV ad market [probabilized potential, in EURm] 3,681 100 45 10 25 80 25 45 20 4,031 350 CAGR 2010-2015 1.8% 3,681 Net TV ad market 2010 Media mix gain Pricing (+3%pts;TV opportunities fair share)* Ad intensity recovery Expand target groups New markets (e.g. lottery, betting) Ban public sponsoring Regional advertising Transaction Net TV ad models (HbbTV, market Mobile) potential 2015 October 10, 2012 Page 48 Source: Net TV ad market 2010: ZAW; remaining figures P7S1 own estimates *Probabilized 0.8%pts TV share increase

SevenOne Media potential of EUR 150m by 2015 P7S1 Germany probabilized potential [in EURm] 12 21 8 25 ~ 1,600 48 21 5 25 35 175 150 CAGR 2010-2015 1.8% Probabilized potential x P7S1 net TV SoA in private market 1,600 1,600 P7S1 2010 Media mix gain (+0.8%pts; TV fair share) Pricing opportunities Ad intensity recovery Expand target groups New markets (e.g. lottery, betting) Ban public sponsoring Regional advertising Transaction models (Hbbtv, Mobile) P7S1 2015 Risk online shift P7S1 2015 Source: P7S1 own estimates October 10, 2012 Page 49

Additional growth opportunities in Austria and Switzerland Largest private FTA broadcaster in AT with increasing market share Austria Growth driven by PULS 4, supported by launch of UEFA Champions League broadcast Successful launch of sixx Austria Swiss TV consumption below European average (CH: 80 min vs. Europe: 116 min.) Switzerland sixx Switzerland launch in 2013 October 10, 2012 Page 50 1 Source: Swiss Federal Statistical Office

Pay Free HD roll-out and basic Pay channel launches as key growth drivers SD HD Distribution: from net cost to net profit Focus of 'past' P&L Growth by increasing technical reach and subscriber base 1 Key drivers HD uptake and basic Pay TV CMD 2011 revenue target confirmed with current trading above original estimates Growth by increasing technical reach and subscriber base 2 October 10, 2012 Page 52

1 2 Successful roll-out of distribution strategy January 2010 July 2010 January 2011 September 2011 November 2011 February 2012 June 2012 UPC Switzerland addition of April 2010 December 2010 August 2011 October 2011 January 2012 UPC Austria March 2012 September 2012 Including basic Pay TV October 10, 2012 Page 53

1 Strong growth of HD devices in Germany Share of households owning an HD-capable TV in Germany [in percent of total households] 48 59 39m HDTVs in German households at the end of 2011 33 ~9m HDTV sales expected in 2012 21 HDTV becoming state of the art 2008 2009 2010 2011 October 10, 2012 Page 54 Source: TNS CONVERGENCE MONITOR 2011; Der Markt für Consumer Electronics in Deutschland 2011 - Study by GFK and gfu

1 HD Free current ProSiebenSat.1 subscriber performance number of paying subscribers almost tripled YTD HD Free paying subscribers in Germany [in million households, average of month] +234% 4,5 5,0 Cable Satellite IPTV HD technical reach 3,7 2,0 0.7 Dec 11 2,9 1.6 1.3 1,0 0,7 2.5 2.1 1,6 1,3 0,5 0,5 0,7 0,8 0.1 0.1 0.1 Mar 12 Jun 12 Sep 12e Dec 12e Technical reach will more than double in 2012 HD Free paying subscribers to reach ~50% penetration in 2012 ~2.5m subscribers at the end of 2012 October 10, 2012 Page 55 Note: All figures are for paying subscribers, final DTAG subscriber figures not reported yet. Source: P7S1

1 HD Free continuing strong demand for ProSiebenSat.1 HD channels on all platforms HD Free paying subscribers in Germany [in million households, average of December] 10.5 Cable Satellite IPTV HD technical reach CAGR +41% 7.6 9.2 6.9 Technical reach will double by 2015 in relation to end of 2012 2.0 5.0 2.5 4.2 2.5 5.7 3.3 4.1 HD Free paying subscribers to reach ~70% penetration in 2015 ~7m subscribers at the end of 2015 0.70,74 2011 1.5 0.8 0.1 2012e 1.2 0.5 2013e 1.7 0.7 2014e 2.0 0.8 2015e Attractive deal terms mostly secured beyond forecasting period October 10, 2012 Page 56 Note: All figures are for paying subscribers. Source: P7S1

2 Basic Pay TV current ProSiebenSat.1 subscriber performance strong growth in number of subscribers Basic Pay TV subscribers in Germany [in million households, average of month] +28% Cable Satellite IPTV 2.8 2.9 1.4 3.3 1.4 3.5 1.5 3.6 1.5 1.5 1.6 1.6 1.7 0.3 0.4 0.4 ~3.6m subscribers at the end of 2012 Dec 2011 Mar 12 Jun 12 Sep 12e Dec 12e Source: P7S1 October 10, 2012 Page 57

2 Basic Pay TV ProSiebenSat.1 subscriber base expected to grow by almost one million from 2012 until 2015 Basic Pay TV subscribers in Germany [in million households, average of December] CAGR +7% Cable Satellite IPTV 3.6 3.8 4.1 4.4 2.8 1,5 1,7 1,8 1,9 1,7 1,7 1,8 1,9 0,4 0,4 0,4 0,5 ~4.4m subscribers at the end of 2015 2011 2012e 2013e 2014e 2015e Source: P7S1 October 10, 2012 Page 58

2 Basic Pay TV ProSiebenSat.1 already has three successful channels in the basic Pay TV market ProSieben's most successful TV shows and comedy formats; Blockbuster movies, U.S. series, music, and action sports events Best-loved SAT.1 telenovelas, prime time series and big SAT.1 movies Top-notch TV entertainment, with the best movies and TV series of all times and genres 14-39 14-49 29-59 - Launched in May 2012 - Technical reach 545k CAGR 2006-2012 + 37% CAGR 2006-2012 + 37% October 10, 2012 Page 59 Note: ProSieben FUN on KabelBW starting November 2012

Distribution business to improve Group revenues by more than EUR 50m by 2015 External revenues [in EURm] ~EUR 50-60m ~90 ~33 Distribution 2010 HD Free Pay TV SD Free Distribution 2015e Expected revenue improvement likely to exceed CMD target of EUR 50m Expected recurring EBITDA improvement disproportionately high with ~EUR 70m Distribution business to become profitable in Q4 2012 October 10, 2012 Page 60 Source: P7S1 estimates for distribution in Germany

Revenue growth target of EUR 250m for Broadcasting German-speaking by 2015 Revenue growth target [in EURm] Growth target 2010-2015 +150 +50 Distribution +50 Source: P7S1 estimates October 10, 2012 Page 61

Disclaimer This presentation contains "forward looking statements" regarding ProSiebenSat.1 Media AG ("ProSiebenSat.1") or ProSiebenSat.1 Group, including opinions, estimates and projections regarding ProSiebenSat.1's or ProSiebenSat.1 Group's financial position, business strategy, plans and objectives of management and future operations. Such forward looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of ProSiebenSat.1 or ProSiebenSat.1 Group to be materially different from future results, performance or achievements expressed or implied by such forward looking statements. These forward looking statements speak only as of the date of this presentation and are based on numerous assumptions which may or may not prove to be correct. No representation or warranty, expressed or implied, is made by ProSiebenSat.1 with respect to the fairness, completeness, correctness, reasonableness or accuracy of any information and opinions contained herein. The information in this presentation is subject to change without notice, it may be incomplete or condensed, and it may not contain all material information concerning ProSiebenSat.1 or ProSiebenSat.1 Group. ProSiebenSat.1 undertakes no obligation to publicly update or revise any forward looking statements or other information stated herein, whether as a result of new information, future events or otherwise. October 10, 2012 Page 62