How TV Creates Billion-$ Digital Leaders - Presentation by Dr. Christian Wegner, Chief Digital Officer of ProSiebenSat.1 at the NOAH 2014 Conference in London, Old Billingsgate on the 13th of November 2014.

1. Page 1November 13, 2014
Dr. Christian Wegner
Digitalvorstand | Chief Digital Officer
NOAH Conference
November 13, 2014 | London
How TV creates
Billion-$ digital leaders

3. Page 2November 13, 2014
Digital & Adjacent revenues
[in EURm]
184
>600
935
Digital at P7S1 on the way to become EUR 1bn business …
2012 2014E 2018E
335
Recurring EBITDA
margin of >20%
2010

4. Page 3November 13, 2014
Digital operator Digital growth investor
Page 3November 13, 2014
… driven by two digital strategies
Build clusters of
majority owned digital
companies in markets
with dynamic structural
growth
Invest TV media
as growth accelerator
in leading digital
entrepreneurs / growth
companies
We do only enter businesses if our synergies with TV are substantial

5. November 13, 2014 Page 4
7TravelAd VoD Pay VoD Games
+
7Commerce launch pad for new verticals
Page 4November 13, 2014
Digital operator: Market leader in four verticals
#1
#1
#3
#2
Top5
#1 #1
#2
#2

6. November 13, 2014 Page 5
Digital growth investor: #1 media investor
Minority (<10%) Minority (10-50%) Majority (>50%)
International
Germany, Austria & Switzerland
1) 1)
New New
Selection
Selection
2)
2)
Please note: investments based on straight equity or equity-like components, strategic and opportunistic by entire D&A segment, incl. ProSiebenSat.1 Accelerator.
1) Structured as warrant. 2) via EPIC companies.
Selection

7. Page 6
DigitalTV
EUR 1bn free TV ad space
Content power
Sales power
Multiple revenue growth opportunities
42m
TV household reach
in D A CH
30m
unique
online users
Synergies with TV are key to our digital success …
November 13, 2014 Page 6

8. November 13, 2014 Page 7
… with idle TV advertising as key growth driver
Investment focus
Accelerate growth of
majority owned assets
… of idle TV ad space
available at no additional cost
EUR 1bn…
Create unique / innovative
TV ad driven business model
Invest in promising
digital growth companies (M4E)
November 13, 2014 Page 7

9. November 13, 2014 Page 8
Only TV combines reach, speed, suggestive power & emotions
Erwin Ephron::
„A medium‘s advertising value is the product of its probability of exposing
the average ad and its contribution to the impact of the message”
Reach Speed Suggestive
power
Emotions
Probability of exposing the average ad Contribution to the impact of the message
The power of the TV Medium The power of the TV spot
+++

10. November 13, 2014 Page 9
Monthly net reach and usage duration 2014
Basis: TV viewers 3+; internet users 6+; March 2014.
Source: AGF in cooperation with GfK / TV Scope / Comscore MyMetrix (internet at home & work w/o mobile usage)
TV Total
Internet
Total
Usage Duration 14+
(hours per month)
50%
100% Net Reach 14+
Private TV
1401301201101009080706050403020100
TV is lead media – both in terms of reach and usage

11. November 13, 2014 Page 10
1 YouTube heavy user representing 80% of YouTube consumption
Basis: A 14-29 years & YouTube heavy user; Mon-Sun, full day 3-3 h; May 2014 Source: Double Play dataset, own calculation, AGF GfK TV Scope.
Page 10November 13, 2014
YouTube does not add net reach to ProSieben …
TV viewing time of YouTube heavy users1 YouTube adds only 4% net reach to ProSieben
[Viewing time in minutes per day] [Net reach per month in m; A 14-29]
120
173 180
10.4 10.8
A 14-29 A 14-49
YouTube
heavy users &
+4%

12. November 13, 2014 Page 11
... since YouTube usage is highly concentrated
Share of YouTube users per 1/3 usage
[in percent]
1
1/3
7
1/3
92
1/3
0
25
50
75
100
Heavy users Average users Light users
Two thirds of the total YouTube traffic is
generated by only 8% of the users
YouTube usage is highly concentrated on
a small group of heavy users
Base: Adults 14 yrs + ,September 2013 (Mo-So, 03:00-03:00 Uhr), Source: Double Play, own calculations, AGF GfK TV Scope
Page 11

13. November 13, 2014 Page 12November 13, 2014 Page 12
We have built powerful services to optimize TV impact …
AnalyticsMedia
planning
Idea Execution
Spot planning
& optimization
Creation
Performance
marketing
Conversion rate
optimization
1 2
3 4
Spot / campaign
analytics
Visitor
analytics
Predictive
analytics
1 2
3

14. November 13, 2014 Page 13
.. and will become #1 data hub for TV analytics
Tracking Data
of >60 companies
European Media Alliance
Adserver Data
Trailer &
Secondary Events
Social Media
P7S1 Central DWH
App Tracking
SeVen Datamart
P7S1
TV Analytics
User Interface

15. November 13, 2014 Page 14November 13, 2014 Page 14
Data, tools and analytics continuously improve TV impact
100
70 62 51 41 33 30
0
25
50
75
100
100 91 80 73 62 58 48
0
25
50
75
100
100 90 100 99 97 95 80
0
25
50
75
100
CpV performance over time
[Index, week]

16. November 13, 2014 Page 15
Case studies: TV drives market and lets our assets outperform
Pre P7S1 entry2 After P7S1 entry3
8
2
5 24
19
20
29
1 Overall market growth through mydays success. 2 mydays: 2010-2012; weg.de: 2012-2013 (FC). 3 mydays: 2012-2014 (FC); weg.de: 2013-2014 (FC).
Market CAGR
mydays/weg.de CAGR
1

17. November 13, 2014 Page 16
Case Studies: Zalando with billion EUR IPO
Impressive establishment of new
market segment for
“buying shoes online“
Zalando as clear market leader
with brand awareness
of >95% in Germany
Successful revenue growth from
EUR 20m to >EUR 1bn

18. November 13, 2014 Page 17
1 2
3
User watches
the content on TV User clicks
the dress online
User buys dress
on our platform
November 13, 2014 Page 17
Enabling devices
§ 2nd screen
§ Smart TV
§ HbbTV
§ Gesture control
Enabling devices will make TV a “24/7 shopping mall”

19. November 13, 2014 Page 18November 13, 2014 Page 18
Next step: we aim to become Europe’s growth investor of choice …
Media
investments
Cash
investments
European
Alliance
“Importer of
choice” services

20. November 13, 2014 Page 19November 13, 2014 Page 19
… by providing world class operational support to our partners …
M4R/E+
Importer
of choice
Operational
services BI & Data
Testimonials
TV analytics
Network &
know how
Online marketing
Creative
We provide a unique launch pad for companies entering the German / European market

21. November 13, 2014 Page 20
… leveraging our emerging European Broadcaster Media Alliance
Rationale
We are #1 M4R/E player in Germany
with a high degree of operational
excellence
International ventures ask for market
entries covering Europe and not
Germany standalone
By expanding geographic reach
through a Pan-European Media
Alliance we will therefore strengthen
our deal flow
Discussions with further
partners ongoing
France
UK
CEE
Poland
Greece
Turkey
November 13, 2014 Page 20

22. November 13, 2014 Page 21
Shopkick is first proof-of-concept of our "Importer of choice"
[SevenImpact
"Toolbox"]
Business
development
Consumer
marketing
Company
building Operations D&A synergies
Results
(7 months
from start
to launch)
Launch on
Oct 22, 2014
8 retail partners
won
8 brands won
Best practice TV +
mobile campaign
Berlin office
established
Team recruited
Partnership with
leading accounting
firm established
HR service firm
found
Sales cooperation
with MyDays
Cross promotion
via portfolio
companies

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Our first common project

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