RTL S A : Interim results 2023

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• Grouprevenue was down 5.1 per cent to €3,109 million (H1/2022: €3,276 million), mainly due to significantly lower TV advertising revenue. Group revenue was down 4.3 per cent organically1.
• RTL Group's TV advertising revenuedecreased 12.5 per cent to €1,187 million (H1/2022: €1,357 million), in particular in Germany. Compared to the first half of 2019 (pre-Covid), RTL Group's TV advertising was down 15.5 per cent.
  RTL Group expects its TV advertising revenue to grow slightly in the second half of 2023 compared to 2022, which was marked by significant negative effects from the football World Cup in Qatar. In Germany, RTL Group's TV advertising revenue was broadly stable year on year in June and July.
• Streaming revenue2 from RTL+ and Videoland was up 16.9 per cent to €152 million (H1/2022: €130 million).
• Distribution revenue3 was stable at €219 million (H1/2022: €220 million).
• Adjusted EBITA4 declined to €250 million (H1/2022: €501 million) mainly due to significantly lower profit contributions from RTL Deutschland. The Adjusted EBITA marginwas 8.0 per cent (H1/2022: 15.3 per cent). Adjusted EBITA before streaming start-up losses was down to €337 million (H1/2022: €575 million).
• Adjusted EBITDA5 was €376 million (H1/2022: €611 million).
• Group profitwas €132 million (H1/2022: €304 million).
• Net cash used in operating activitieswas at €-24 million (H1/2022: net cash from operating activities €84 million), due to significant investments in
  RTL Group's streaming services and the more capital-intense scripted business at Fremantle.
• On 30 June 2023, RTL Group had net debt6 of €-702 million (31 December 2022: net cash of €180 million). On 2 May 2023, RTL Group paid out the dividend for 2022 (€4.00 per share) amounting to €619 million.

• Adjusted for portfolio changes and at constant exchange rates. Further details can be found in Key performance indicators on page 13 of RTL Group's interim report 2023

1. Streaming revenue includes SVOD, TVOD, in-stream and distribution revenue from RTL+ in Germany, RTL+ in Hungary (including RTL+/RTL+ Active/RTL+ Light) and Videoland/RTL XL in the Netherlands
2. Revenue generated across all distribution platforms (cable, satellite, internet TV) including subscription and re- transmission fees

• See Key performance indicators on page 14 of RTL Group's interim report 2023
  5 See Key performance indicators on page 15 of RTL Group's interim report 2023

• Net cash/(debt) excludes current and non-current lease liabilities. Including these, net debt as of 30 June 2022 was €- 1,076 million (31 December 2022: net debt of €-205 million). See Key performance indicators on page 16 of RTL Group's interim report 2023

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With the reorganisation, costs are being reduced in all areas of the publishing business - especially in corporate functions, IT, office space, publishing and editorial teams by a total of €70 million per annum. Staff in publishing will be reduced by around 700 FTEs. In addition, staff will be reduced in the other RTL Deutschland businesses by around 300 FTEs by 2025, bringing the total reduction to 1,000 FTEs.

• In March 2023, RTL Deutschland announced the renewal of the exclusive broadcasting and streaming rights for the Uefa Europa League and Uefa Europa Conference League. For the seasons 2024/25 to 2026/27, the matches will be shown on its linear channels RTL and Nitro as well as its streaming service RTL+.
• On 27 April 2023, French media authority Arcom announced that Groupe M6 and Arcom signed an agreement defining the obligations and commitments of the company's flagship channel, M6, for the allocation of the Digital Terrestrial Television (DTT) channel 6. The authorisation for the next 10 years came into effect on 6 May 2023.
• In June 2023, RTL Hungary announced that it has acquired the broadcasting rights for the Uefa Champions League. Starting in the 2024/25 season, RTL Hungary will be the home of the Uefa Champions League matches for three years and broadcast live around 200 games per season - including the finals - on linear TV and on its streaming service RTL+. RTL Hungary has further retained the linear and digital rights to the Uefa Europa League and the Uefa European Conference League for three years for the seasons 2024/25 to 2026/27.

Boosting growth businesses - Streaming

• As of 30 June 2023, RTL Group served 6.041 million paying subscribers with its streaming services RTL+ in Germany and Hungary and Videoland in the Netherlands - up 34.1 per cent year on year (30 June 2022: 4.506 million).
• • Paying subscribers for RTL+ increased 31.0 per cent year on year to
    4.489 million (30 June 2022: 3.427 million). The strategic partnership with Deutsche Telekom to bundle RTL+ Premium within Magenta TV contributed significantly to the growth.
  • Paying subscribers for Videoland grew 17.5 per cent year on year to 1.268 million (30 June 2022: 1.079 million), driven by its diverse content offering.
  • The number of paying subscribers for RTL+ in Hungary (including RTL+ Active) was 0.285 million at the end of June 2023. RTL+ in Hungary was launched in November 2022.7

• The previous services, RTL Most and RTL Most+, were integrated into RTL+ under the packages RTL+ Light and RTL+ Active. Therefore, RTL+ in Hungary has three models: a direct-to-consumer subscription model without advertising, a TV subscription model (for example via an IPTV subscription), and a registration-basedadvertising-funded model.

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• In the first half of 2023, RTL Deutschland added more than 90,000 audiobooks to the RTL+ Musik app from the catalogues of cooperation partner Deezer and Bertelsmann's publishing business Verlagsgruppe Penguin Random House. RTL Deutschland raised the price for the core video RTL+ Premium package from €4.99 per month to €6.99 per month, while the RTL+ Max package (video, music, podcasts, audiobooks) is now available for €12.99 per month. The newly introduced package RTL+ Family (€18.99 per month) gives families the complete cross-media offering on up to four devices simultaneously. The price increases have been implemented in phases since March 2023 without significant subscriber churn, and will increase the average revenue per user (ARPU) going forward.
• RTL Deutschland is in the process of launching the RTL+ multimedia app, comprising video, music, podcasts, audiobooks and magazine content in one single app.

Boosting growth businesses - Fremantle

• Fremantle is RTL Group's global content business, spanning entertainment, drama and film, and documentaries.
• Within its entertainment business, Fremantle shows continued to achieve outstanding success with audiences across the globe, producing the number one and two UK entertainment shows, The Apprentice and Britain's Got Talent. In the US, Got Talent and American Idol significantly outperformed prime-time averages of the respective TV networks. Further bolstering its portfolio, Fremantle acquired the global rights to the hit UK series The Piano from Love Productions in March 2023.
• The first half of 2023 saw multiple drama and film launches for Fremantle and its production companies, including The Good Mothers on Disney+, which won the inaugural Series Award at the 2023 Berlinale. In February 2023, Fremantle secured a two-year partnership with Nine Hours, the new label from Edward Berger, the director of the Oscar-winning film All Quiet on the Western Front. The agreement will provide Fremantle with first-look access to Nine Hours' television projects and second-look access to new film projects.
• Fremantle has continued to grow its documentary business and signed an exclusive first-look agreement with Oscar-nominated filmmaker Amy Berg to develop a new slate of premium documentaries. The company has further secured the global rights to a new documentary about French icon Brigitte Bardot, as well as a series about fashion icon Coco Chanel from Gabriel Jagger's WhyNow Productions. Fremantle also revealed its new documentaries label, Undeniable, which will focus on producing world-class premium feature documentaries.

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