Ströer : Presentation on the Q1 2024 Statement

Accelerating Momentum in (D)OoH

May 8, 2024 | Ströer SE & Co. KGaA

Agenda

1 2 3

Group Update

Financials

Outlook

2

Results Q1 2024

m€	1 2023	1 2024	▲

Reported growth

Revenues

Organic growth(1)

EBITDA (adjusted)

EBIT (adjusted)

Net income (adjusted)(2)

Free Cash Flow (adjusted)

Capex

409.9

+7.3%

97.2

26.1

8.9

-14.5

31.4

453.4

+8.9%

108.4

34.7

12.5

-24.4

19.4

+11%

+1.6%pts

+12%

+33%

+41%

-68%

-38%

(1)Excluding exchange rate effects and effects from (de)consolidation and discontinuation of operations
(2)Adjusted for exceptional items and additional other reconciling factors in D&A (PPA related amortization and impairment losses),	3
in financial result and in income taxes

Q1 2024 Market Dynamics: (D)OoH still outperforming the Ad Market

German Ad Market with positive Momentum in the first three Months

Global Points of Reference			Local German Peers
Reported Net Revenues
	Alphabet(2)			Desktop/Mobile(4)	German
			Ad Market(4)
+15%		+10%
		+11%
	Youtube(2)			TV Germany(4)
				Print Germany(4)
+21%			+12%		+6%
	Meta(3)				Radio Germany(4)		OoH Germany (4)
	+27%			+15%		+22%

Ströer Group & Core Business

Reported Net Revenues

Ströer DOoH

+30%

Ströer OoH

+16%

Ströer Group

+11%

(1)Internal estimates & ZAW; (2)Alphabet IR; (3)Meta; (4)Nielsen Numbers (gross) for Q1 2024

4

OoH Category structurally & constantly increases Market Shares

Accelerating Momentum since the End of the Pandemic

Index								Covid-19 pandemic
										OoH
220
200
180
160
											Online
140											TV
											Total
120											Radio
100											Print
80
2013	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024e

Source: Nielsen Numbers (gross) 2013 - 2023; 2024 projection based on econometric modelling and estimated net growth of ~ 5.6% in Q1/2024

5

Robust Growth in the OoH Segment in Germany

Momentum for 2024 indicates 10% Market Share throughout 2025

OoH market share of the total advertising market in %

10									+171%
																			9.2
9																		8.6
8																	7.8
													7.5
												7.1	7.1		7.0	7.2
7
											6.4				Corona
6										5.9					pandemie lockdowns
							5.5	5.5
		Financial and
5		economic crisis		4.9	4.9	Meta / Google
			4.5
				4.3				market focus
		4.0	4.0
4	3.6
3.4
3
2005	2006	2007	2008	2009	2010	2011	2012	2013	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024e

OoH share*

Source: Nielsen Media Research, gross advertising
*OoH incl. billboard, transport media incl. public video and infoscreen, at-retail media incl. mall video, ambient media	6

Market Projections indicate sustainable further Growth of (D)OoH

Digitization and Programmatic (DOoH) Advertising as Key Levers

3200

3000

2800

2600

2400

2200

2000

1800

1600

1400

1200

1000

800

600

400

200

0

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

2025

2026

2027

2028

2029

2030

2031

2032

OoH DOoH non-programmatic DOoH programmatic

Net advertising revenue Out of Home in Germany	7
Source: IDOOH(Institute for Digital Out of Home Media GmbH) - Market growth OoH according to PwC Entertainment & Media Outlook 2022 with adjustments from IDOOH

Exemplary KPIs for our DOoH Momentum (+30%) in Q1/2024

Consistent Development for the last nine Months and similar Outlook for Q2/2024

National advertiser segment	1/2024 (vs. Q1/2023)	Underlying value driver
Active advertisers (= net customer growth)	+14%	Constantly broader penetration
of the total ad market
Net revenue retention (rate card with ~7% increase)	111%	Low customer churn
based on strong ROI for advertisers
Share of programmatic revenue / increase	57%	Further integration of DOoH
+8%-points	in digital marketing universe
Average ticket size below top 20% customers / change	77k EUR	Low entry barriers &
almost unlimited longtail potential

8

Strong Momentum in digital Sales (Online | DOoH)

Our Online Business in particular supports the DOoH Momentum

Ströer Private Marketplace Online		Sports Publishing	Special forms of Online Advertising

• Marketable reach increased by +40%, e.g. due to transfermarkt, Sport1 and CTV publishers such as Warner Bros, Discovery, among others
• Video as a strong revenue driver: online video +73% and connected TV +159%

Ströer Private Market Place*

+18%

• New publisher with Sport1, whole world of sports 24/7, including highlights
• Analyze football like professionals with transfermarkt 4.0 million UUs
• Live soccer scores in real time with TorAlarm 1.1 million UUs

• +30 high impact formats for desktop, mobile and multiscreen implementations
• Ströer can offer over 80% of the high impact formats in demand in the market

StröerStröerDigitalDigitalMedia*Media1

MediaMediaImpact**Impact2

				Quarter Media***3
	PMP gesa	m	t	Quarter Media
	Q1 2023		Q1 2024

27.1 UU**

25.2 UU**

18.8 UU**

Source: *Sales // Ströer Data, AGOF daily digital facts | * * million Unique User (UU) | 1incl. sport1 and transfermarkt; 2excl. SPORT1 and transfermarkt; 3incl. kicker and Alpin

9

Top Sports Events 2024 with potential Upsides (i.e. June/July)

In 2024, sports fans can expect one major event after another that offers potential in all our genres, including online, OoH and Public Video.

05/10 - 05/26/2024	06/14 - 07/14/2024	07/26 - 08/11/2024	12/15/2024 - 01/03/2025
Ice Hockey WC	UEFA EURO 2024	Olympia Paris	Darts WC