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Management Presentation Q3/2018 Results 08 November 2018 | Analyst - PowerPoint PPT Presentation

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Management Presentation Q3/2018 Results 08 November 2018 | Analyst and Investor Conference Call 1 | Management Presentation Q3/2018 | 08.11.2018 Cautionary statement This presentation contains forward-looking statements which involve risks and

  1. Management Presentation Q3/2018 Results 08 November 2018 | Analyst and Investor Conference Call 1 | Management Presentation Q3/2018 | 08.11.2018

  2. Cautionary statement This presentation contains forward-looking statements which involve risks and uncertainties. The actual performance, results and timing of the business of freenet AG could differ materially from the expectations regarding performance, results and timing expressed in this presentation. This presentation does not constitute an offer to sell or a solicitation to purchase any securities of freenet AG. Any such decision must not be made on the basis of the information provided in this presentation. freenet AG does not undertake any obligation to publicly update or revise information provided during this presentation. 2 | Management Presentation Q3/2018 | 08.11.2018

  3. Presenting board members Christoph Vilanek Ingo Arnold CEO of freenet AG CFO of freenet AG starting since 2009 from January 2019 ▪ Management positions ▪ Head of Finance and IR at at debitel AG since 2005 freenet AG and Managing Director of mobilcom-debitel ▪ Consultant for GmbH since 2012 telecommunication with ▪ Head of Controlling and McKinsey&Company since 2001 Treasury at debitel AG since 2001 and at freenet AG since ▪ Management positions in 2008 Direct Marketing and ▪ Management positions in Media 1991-2001 finance in different industries 1990-2001 3 | Management Presentation Q3/2018 | 08.11.2018

  4. Agenda (1) Operational Update Christoph Vilanek, CEO (2) Financials Ingo Arnold, CFO (3) Outlook Christoph Vilanek, CEO (4) Q&A 4 | Management Presentation Q3/2018 | 08.11.2018

  5. Operational performance YTD 2018 Customer ownership Financial metric Shareholdings ▪ Growing postpaid base to 6.87m ▪ Revenue before IFRS 15 increases ▪ Sunrise with solid and promising 4.4 per cent yoy performance ▪ Increasing number of freenet TV ▪ EBITDA exclusive of Sunrise and ▪ Expecting to become a profiteer of customers (RGU) +21 per cent yoy profits of analogue radio sale at 302.2 Swiss market consolidation ▪ waipu.tv with over 1 million registered mEUR (+0.8 per cent yoy) ▪ Investment in CECONOMY with customers and more than 202,000 ▪ Free cash flow exclusive of Sunrise at paying users disappointing share performance 216.7 mEUR and in line with guidance however huge strategic opportunities Growth in all important areas of 210.0 mEUR Confirming strategy ▪ Operational and qualitative targets on track Stable organic YTD growth 5 | Management Presentation Q3/2018 | 08.11.2018

  6. Mobile Communications segment developing steadily Postpaid-Customers ▪ Increase in strategically most important and valuable customer group [in '000] 6,869 with two-year contracts: Postpaid base increased by 3.4 per cent 6,828 6,770 6,711 yoy or +223,000 to 6.87 million 6,646 6,564 6,537 ▪ Postpaid ARPU Q3/2018 stable at 21.9 euros ▪ Digital Lifestyle revenues +13.1 per cent compared to 9M previous year Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 Digital Lifestyle revenues Postpaid ARPU 21.9 [in EUR] [in mEUR] 49.0 21.7 45.4 42.6 42.4 41.0 21.5 YTD 2018 37.9 36.3 21.4 21.4 21.4 130.4 mEUR 21.1 YTD 2017 115.2 mEUR Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 6 | Management Presentation Q3/2018 | 08.11.2018

  7. Continuous extension of features and benefits with waipu.tv New features launched in Q3 Features to be launched before end of 2018 ✓ Samsung TV App (Live TV and EPG) Apple TV (Beta Version) ✓ Apple Airplay Samsung TV (NPVR and full search 2.0) ✓ Voice control via Alexa Customized backend integration for third party ✓ providers Re-Launch of marketing-website ✓ DRM (content protection) for NewTV channels EPG search function v1.0 (search for channels and programs) ePay as additional payment method ✓ Full update and upscaling of the software Search V 2.0 (full text search) platform and architecture New content ✓ Optimization of developer platform (shared Live TV ingest in NewTV – with exclusive channels library for iOS and Android) Launch blockbuster channel Integration and launch of 9 new New-TV channels 7 | Management Presentation Q3/2018 | 08.11.2018

  8. TV and Media segment gaining subscribers Registered customers ▪ waipu.tv reached more than 1,000,000 registered customers , [in '000] thereof more than 202,000 with paid subscription doubling from 1,007 Q4/2017 824 ▪ freenet TV with more than 901,000 freenet TV subscribers (RGU) 609 464 within expected range 339 255 147 Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 Subscribers Subscribers (RGU 1 ) 202 [in '000] [in '000] 1,001 174 945 133 902 901 102 72 52 745 25 Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 1 RGU as the abbreviation for “Revenue Generating Unit” refers to freenet TV subscribers who purchased and also activated the freen et TV access 8 | Management Presentation Q3/2018 | 08.11.2018

  9. Introduction of Revenue Generating Units (RGU) ▪ KPI ‘freenet TV subscribers’ includes all sold vouchers Subscribers [in '000] ▪ With ‘ freenet TV subscribers (RGU) ’ a more transparent and 1,138 efficient KPI is introduced. RGUs reflect activated and therefore revenue generating vouchers – after activation, vouchers have a run- 1,022 1,004 time of 12 months: net change in Q3/2018: -99,200 975 ▪ Early Buyers bought and stocked, but did not activate vouchers ▪ freenet TV subscriber (RGU) increased by +21 per cent yoy. The Q4 17 Q1 18 Q2 18 Q3 18 2018 target of 1 million RGUs is equivalent to 1.2 million subscribers Early Buyer of Vouchers 1 Subscribers (RGU) [in '000] [in '000] Δ 35,400 1,001 1,000 activations 945 138 102 902 901 77 72 Q4 17 Q1 18 Q2 18 Q3 18 Target Q4 17 Q1 18 Q2 18 Q3 18 1 Sold, but not activated vouchers 2018 9 | Management Presentation Q3/2018 | 08.11.2018

  10. Media Broadcast’s divestment from analogue radio antennas New regulation regime ▪ German regulatory board announced new regulation of analogue radio antennas ▪ New regulated prices would have made the business unprofitable in the Effects 2018* Revenue: -15.0 mEUR long-run EBITDA: - 6.5 mEUR One-off: +25.7 mEUR (no cash) ▪ Given the overall focus on digital (DVB-T2 and DAB+) Media Broadcast management decided to auction the antenna infrastructure to radio stations as well as private investors ▪ Media Broadcast still offers service and maintenance but only a smaller Effects 2019ff.* proportion of the antennas remains contracted Revenue: -40.0 mEUR EBITDA: -8.0 mEUR ▪ Consequently, Media Broadcast reviewed its staffing and given the Cash: +3.0 mEUR/year (til 2026) finalization of DVB-T2 roll-out, the let-go of the antennas and the status of DAB+ workforce needs to be reduced by a 20 per cent (current negotiation with the workers council to bring down every weekly hours by 20 per cent instead of layoffs) * Reference year 2017 10 | Management Presentation Q3/2018 | 08.11.2018

  11. Competition is essential for success of 5G Federal Network Agency (BNetzA) has to clarify legal uncertainties BNetzA consultation draft What is required? Service provider make important Clear regulation of service provider obligation ( Diensteanbieterverpflichtung) contribution to competition Service provider do not impair Non-discriminatory treatment investment/CAPEX capability of MNOs Order to negotiate about service providers Efficient legal protection Clarification of legal uncertainties Order to negotiate about national roaming in sense of competition Obligation to expand with sense of freenet Group will sue legal uncertainties proportion if necessary (under political requirements) 11 | Management Presentation Q3/2018 | 08.11.2018

  12. Agenda (1) Operational Update Christoph Vilanek, CEO (2) Financials Ingo Arnold, CFO (3) Outlook Christoph Vilanek, CFO (4) Q&A 12 | Management Presentation Q3/2018 | 08.11.2018

  13. Stable EBITDA despite decline in gross profit Revenue ▪ Group Revenue before IFRS 15 increases YTD by 4.4 per cent [in mEUR] 894.0 902.7 ▪ Group Gross profit decreases YTD by 29.5 mEUR to 668.6 mEUR 873.7 949.9 185.6 197.4 184.0 (2017: 698.1 mEUR) impacted mainly by TV and Media (-25.1 880.1 838.0 839.2 mEUR); Mobile Communications performance stable 717.0 696.6 689.6 ▪ Group EBITDA exclusive of Sunrise and profits of analogue radio sale decreases yoy 5.3 mEUR to 104.8 mEUR (2017: 110.1 mEUR), but remains YTD stable with 302.2 mEUR (+0.8 per cent) Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 IFRS 15 revenue impact Gross profit EBITDA 251.6 [in mEUR] [in mEUR] 103.6 239.5 231.6 227.0 223.5 28.3 222.9 222.2 13.6 17.2 110.1 9.7 9.9 104.9 9.7 110.1 104.6 104.8 100.8 98.6 96.6 91.1 Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 EBITDA exclusive of Sunrise and profits of analogue radio sale 13 | Management Presentation Q3/2018 | 08.11.2018

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