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Annual General Shareholders' Meeting 2023

Joseph Oughourlian, PRISA Chairperson

Madrid, JUNE 27, 2023

Good morning, ladies and gentlemen.

Welcome to the Annual General Shareholders' Meeting. Thank you very much for your attendance, whether it be here in person or online.

A year ago, as I stood before you, a very thorough and complex reorganization of the Group was underway. A strategic plan had only recently been presented to the markets, and I expressed our determination to forge ahead with reducing our debt and strengthening our company.

All of this in a global economic landscape marked by volatility and uncertainty as a result of the war in Ukraine, rising energy costs, the steep increase in inflation and the sharp rise in interest rates.

First of all, I would like to tell you, dear shareholders, that we are well aware that you have supported our decisions in difficult times and for this we thank you for your firm support.

As you know, a deleveraging of the company has been achieved thanks to the issuance of the convertible bonds which you, our shareholders, have embraced with confidence. My priority, and I reiterate it here today, is to reduce the group's debt and bring it under control.

And our aim is to do so while growing our businesses.

Today, I can tell you that, for the first time in the history of this Group, we have met each and every one of the objectives to which we committed ourselves a year ago, thanks to the extraordinary efforts of our workforce, who have risen to the challenges we face, under the leadership of a team focused on fulfilling our strategic plan.

That very same management team has managed to double the Group's EBITDA over the past two years, meeting the objectives set despite the environment. Today I wish to congratulate you all.

As our Chief Financial Officer, Pilar Gil, and the Chairpersons of Santillana and PRISA Media, Francisco Cuadrado and Carlos Núñez, will explain in full detail later, we have outperformed the targets that we had set in the strategic plan for 2022.

I also promised to improve the governance of the Group with the incorporation of top-level talent, and I can now confirm that we have an outstanding and highly talented Board that will only be strengthened with the changes and appointments that we put before you here today at this Shareholders' Meeting, and which I'd now like to present to you.

But first, I would like to acknowledge the hard work and contribution of Rosauro Varo, Deputy Chairperson until a few weeks ago, and that of Maria Teresa Ballester, whom we thank for her work during her term as director, which ends today. Thank you both.

Meanwhile, we welcome Isabel Sánchez, who, with her solid track record in the worlds of economics and academia, will undoubtedly strengthen and further our firm commitment to education and quality teaching from her position on the Board.

To support the work of the Chairperson, especially in our business development and when it comes to our institutional presence in the Americas, Fernando Carrillo, a professional with an extraordinary career in governance, international relations and the academic world, also joins the Board.

As you know, PRISA is increasingly present in the Americas, a region which accounts for more than 80 percent of our EBITDA. It is our objective to consolidate and expand our business there. And it is for this reason that we have proposed Fernando Carrillo as Deputy Chairperson, effective as of the Board Meeting to be held immediately after this AGM.

We believe that support for the Chair is also of crucial importance in Spain and that is why we propose Pilar Gil, our CFO, as Deputy Chairperson. After 23 years in the company, our Chief Financial Officer has an extraordinary track record and indisputable professional talent. More recently, she has been firmly at the helm of the group's finances and from now on she widens her brief to governance.

Dear shareholders, I also want to tell you that we are STRONG, that we are sticking with the plan. The effort of our teams and workforce has been rewarded with very significant figures such as the 300,000 subscribers reached by EL PAÍS in less than three years. Our newspaper has become the news title to have seen the most growth in the least amount of time in the world.

Meanwhile, our education business has reached 2.8 million subscribers in Latin America, where we serve millions of students.

This support from readers, from both traditional and streaming radio listeners, users of our audiovisual products and students and teachers in the 23 countries in which we operate, has, in itself, a value beyond mere numbers and figures.

Because here at Grupo PRISA, we are nurturing and building a free and quality press and radio, and inclusive education based on values. Together these form the very foundations of the future of democracy in all those places where we are present.

I know that being a shareholder of this company is not easy. But today I have come here to reiterate my personal commitment to this project and to the PRISA group. There is still a lot to do, but I am confident that we shall steer this great Group towards a successful future.

At PRISA we never stop striving for excellence in everything we do. That is why we have never stopped improving over these past two years.

Let us now watch a video that brings together the very best of recent months.

Thank you so much.

Annual General Shareholders' Meeting 2023

Pilar Gil, Chief Financial Officer

Madrid, JUNE 27, 2023

Good morning, ladies and gentlemen shareholders.

It is a pleasure to be with you here this morning.

As you all know, from the moment I took over as the Group's Chief Financial Officer, I knew that it was a challenge that would require enormous responsibility and respect, one that needed to be approached with determination. These values are ever present, they are the ones that inspire me every day as I carry out my mission.

Today, I appear before you to take stock of the past year in terms of the company's financial performance.

In 2022, despite a very complex macroeconomic environment, the Group managed to improve its financial results thanks to three fundamental factors: firstly, the good performance of our businesses; secondly, the management and maximization of cash generation; and thirdly, debt control. And results were further strengthened after the Group successfully completed two