Slide 1: Investor presentation Post 9M 2025 results
Investor presentation Post 9M 2025 results MONTMARTRE
Slide 2: Disclaimer
Disclaimer This presentation contains rounded figures and contains forward-looking information and statements about the TF1 group. Forward-looking statements are statements that are not historical facts, and include, but are not limited to: financial projections, forecasts and estimates and their un
Slide 3: Who we are Strategy update 9M 2025 financials
01. Who we are P.4 02. Strategy update P.8 03. 9M 2025 financials P.16 04. Segment deep dive P.23 05. Extra-financial performance P.34 06. Share information P.38 07. Appendix P.40 3 INVESTOR PRESENTATION
Slide 4: Who we are
01. Who we are BONJOUR! TF1’S MORNING SHOW
Slide 5: TF1 group's history
1987 TF1 group’s history The Bouygues group becomes reference shareholder of the 2018 TF1 channel 2025 2022 First distribution agreements signed with the French telecom Newen Studios becomes The TF1 group finalizes the sale of the operators Launch of a micro-payment offer on UNIFY Publishers busines
Slide 6: TF1 Group's activities: broadcasting, streaming and production
TF1 Group’s activities: broadcasting, streaming and production Media 2024 REVENUE 2024 REVENUE BROADCASTING, STREAMING, CONTENT PRODUCTION OTHER ACTIVITIES €2bn & DISTRIBUTION €345m FTA CHANNELS DRAMA / SCRIPTED THEME CHANNELS ENTERTAINMENT STREAMING SERVICES ADVERTISING ASSOCIATED TV MOVIES ANIMATI
Slide 7: 9M 2025 Highlights
STABLE AD REVENUE IMPACTED STRONG GROWTH 9M 2025 Highlights CONSOLIDATED REVENUE BY AN UNCERTAIN AND UNSTABLE FOR ENVIRONMENT Strengthened audience leadership Group revenue Group advertising revenue Digital advertising revenue €1,598m €1,121m +40.5% W<50PDM 25-49 YO +0.5% vs 9M 2024 -2.2% (-€26m) vs
Slide 8: Strategy update
02. Strategy update DANSE AVEC LES STARS
Slide 9: Ambition: primary premium destination on TV screens for family entertainment
Establish the group as the primary premium destination on TV screens Ambition for family entertainment and quality news in French 9 * New brand name of Newen Studios starting March 2025 INVESTOR PRESENTATION
Slide 10: Strategy
Strategy Strengthen the group’s leadership in the linear advertising market Become the leading free streaming platform in France and in French-speaking markets * Reinforce Studio TF1’s position on the international stage by leveraging TF1 brand’s appeal 10 * New brand name of Newen Studios starting
Slide 11: Market momentum: a strategic opportunity
Market momentum: a strategic opportunity VIDEO CONSUMPTION “ON-DEMAND” THE VIDEO ADVERTISING SHIFTS TO “ON-DEMAND” CONSUMPTION IS DRIVEN MARKET IS GROWING BY THE TV SCREEN STRONGLY IN FRANCE TV viewing time + long format video 1 Share of TV screen in on-demand Video advertising market 3 long-format
Slide 12: Linear: gain market share in a flattish TV ad market
Linear: gain market share in a flattish TV ad market THROUGH VOLUME Through a distinctive WITH OUR POWERFUL FRANCHISES GENERATING LEADING SHARE pricing strategy OF PREMIUM AD INVENTORIES ON COMMERCIAL TARGETS ENTERTAINMENT FRENCH DRAMA WOMEN’S SPORTS 2025 Serialized franchises Wide universe of new h
Slide 13: Gain market share in a growing digital video ad market
gain market share in a growing digital video ad market ESTABLISH TF1+ as the premium alternative to YouTube FOR VIEWERS FOR ADVERTISERS EXPANSION IN AGGREGATION DATA-ENRICHED NEW AD FORMATS FRENCH-SPEAKING STRATEGY AD INVENTORIES MARKETS Improve ad tech stack to address advertisers’ needs from brand
Slide 14: Phase 1: Launch the first free-to-view streaming platform
Phase 1: Launch the first Phase 2: Extend distribution free-to-view streaming and offer platform 30 JUNE 2025 Expansion in French-speaking markets with the Awareness launch of TF1+ in Africa SEPTEMBER/OCTOBER 2025 Launch of a micro-payment offer on TF1+ Visibility Keep growing on all building blocks
Slide 15: Reinforce Studio TF1's position on the international stage
Reinforce ‘s position on the international stage Newen Studios rebrands as Studio TF1 (effective starting March 2025) Increase studios' International profile with a focus on developing intellectual property (IP) with global appeal Strengthen synergies with the media segment Expand focus on film with
Slide 16: 9M 2025 financials
03. 9M 2025 financials SECRET STORY
Slide 17: Consolidated revenue per segment
Consolidated revenue per segment MEDIA (€m) Q3 2025 Q3 2024 CHG.% 9M 2025 9M 2024 CHG.% • Advertising ▪ Continued strong momentum for Media 411 416 (1.1%) 1,386 1,399 (1.0%) TF1+, with 41% growth ▪ Linear impacted by an uncertain and unstable environment ; high basis for Advertising revenue 340 345
Slide 18: Current operating profit from activities per segment
Current operating profit from activities per segment (€m) Q3 2025 Q3 2024 CHG. 9M 2025 9M 2024 CHG. MEDIA • Decrease in advertising revenue Media 46 66 (20) 171 191 (20) • Impact from disposals o/w programming costs (211) (212) +2 (662) (671) +9 • My Little Paris and PlayTwo in Q3 2025 • Ushuaïa in
Slide 19: Consolidated income statement
Consolidated income statement (€m) Q3 2025 Q3 2024 CHG. 9M 2025 9M 2024 CHG. Consolidated revenue 496 487 +1.7% 1,598 1,591 +0.5% Programming costs (211) (212) +2 (662) (671) +9 Other charges, depreciation, amortisation and provisions (225) (205) (19) (745) (722) (24) Current operating profit from a
Slide 20: Solid net cash position at end-September 2025
Solid net cash position at end-September 2025 Free cash flow before changes in WCR €84 million 331 (9) 9 506 (238) (12) €m 465 Free cash flow after changes in WCR €72 million (122) Opening net cash Net cash Repayment of Net capital Changes in Acquisitions Dividends Closing net cash position at flow1
Slide 21: Nine-month 2025 key takeaways
Nine-month 2025 key takeaways Tackling advertising market headwinds to mitigate impact on COPA Market share gains across the board • Strong momentum for TF1+ (+41% ad growth, significantly outperforming digital ad market) • Market share gain in linear (-6% decline vs low double-digit percentage decl
Slide 22: Full-year 2025 guidance
Full-year 2025 guidance 2025 targets confirmed: Strong double-digit revenue growth in digital Aiming for a growing dividend policy in the coming years 2025 margin from activities target adjusted: Between 10.5% and 11.5% (from broadly stable vs 2024*) Domestic instability adversely impacted ad market
Slide 23: Segment deep dive
04. Segment deep dive STAR ACADEMY
Slide 24: Media
04. Segment deep dive Media KOH-LANTA
Slide 25: A strong value proposition
A strong value proposition Unrivalled daily reach among media TF1 channels: the best ROI on the French TV market invested = ROI 76% TF1 DTT channels TF1 channel 52% 11% of TV 10% 43% of TV 41% sales contribution of investments sales contribution of investments 34% ROI: €6.3 ROI: €6.6 TF1 DTT 17% 17%
Slide 26: Audience leadership
Audience leadership High ratings in each genre Significant lead over main competitor French drama News Entertainment 33.8 W<50PDM +9.2 pts 22.8 vs main competitor 13.6 9.3 4.3 4.2 3.8 3.0 2.9 2.3 2.1 1.8 0.6 0.5 TF1 M6 F2 TMC W9 TFX F3 6ter TF1SF Gulli F5 LCI F.info vs 9M +0.8 +0.5 +0.9 -1.7 -0.1 +0
Slide 27: Update on streaming
Update on streaming Virtuous linear & streaming strategy Progress on all building blocks 25-49 Y/O NON- LINEAR LINEAR Awareness Visibility Consumption Ad inventories CPM 80% 20% 36m STREAMERS1 9M 2025 AIDED FIRST +13% vs 9M 2024 AD VISIBILITY2 LOAD CPM AWARENESS1 41m DAILY SOAPS 81% 65% STREAMERS1 i
Slide 28: Promising launch of micro-payment
Promising launch of micro-payment Progress on all building blocks First phase in September Second phase in October Companion Ad-free Previews shows content French drama Daily soaps Reality shows Live channel Entertainment French drama Daily soaps Reality shows €0.99 €0.69 €0.69 €0.99/day €1.99 €0.99
Slide 29: Expansion in French-speaking markets
Expansion in French-speaking markets Encouraging first steps in Africa French-speaking markets now TF1+ STREAMED HOURS IN AFRICA BELGIUM LUXEMBOURG Maghreb Sub-Saharan Africa SWITZERLAND 68% 32% FRENCH-SPEAKING AFRICA TOP 3 COUNTRIES % of TF1+ streamed hours in Africa FRENCH-SPEAKING MARKETS Morocco
Slide 30: Segment deep dive
04. Segment deep dive MARIE-ANTOINETTE
Slide 31: A multi-territorial presence
a multi-territorial presence 31 INVESTOR PRESENTATION
Slide 32: A wide pool of producers
a wide pool of producers France United-Kingdom Netherlands Belgium Germany Norway Sweden USA Spain Finland Denmark Canada 32 INVESTOR PRESENTATION
Slide 33: Nine-month highlights
Nine-month highlights Drama Production Distribution Revenue of €213m at end-September +11% year on year COPA of Cinema Unscripted €20m at end-September 2025 +€13m year on year 33 ~695k ~480k ~470k ~300k INVESTOR PRESENTATION tickets sold tickets sold tickets sold tickets sold
Slide 34: Extra-financial performance
05. Extra- financial performance ECOVADIS
Slide 35: Guiding principles for transformation
Guiding principles for transformation Recognition by the leading 01 – Promote gender equality rating agencies (1) 02 – Promote diversity, inclusion and solidarity 03 – Ensure health, safety and well-being in the workplace RANKED 1ST in Broadcasting & Advertising sector in Europe 04 – Reduce our carb
Slide 36: Key achievements
Key achievements Undertaking Indicator Detail Figures Undertaking Indicator Detail Figures Percentage of women Women expert in Studios 66% at the end Installation of electricity Hybrid or electric vehicles 100% at the end in the TF1 News team of August 2023 terminals in the car parks of 2023 Women r
Slide 37: Commitment to reducing carbon emissions by 30% within the 2030 climate roadmap
Commitments Commitment to reducing carbon emissions by 30% (1) within the 2030 climate roadmap SCOPES 1 AND 2 SCOPE 3a -42 % -25 % Target validated by SBTI 37 1 Compared to the emissions of 2021. INVESTOR PRESENTATION
Slide 38: Share information
06. Share information LCI MORNING SHOW
Slide 39: Share ownership & stock market information
Share ownership & stock market information Stock market information Ownership Coverage & structure* recommendations Quote: Euronext Paris Market: Compartment A 14% ISIN: FR0000054900 8 CFI: ESVUFN ICB: 403010 Media ANALYSTS Ticker: TFI 47% Major Market Indexes: 28% • SBF 120 5/8 BUY • • CAC MID 60 C
Slide 40: Appendix
07. Appendix PANDA
Slide 41: FY 24 Consolidated revenue per segment
FY 24 Consolidated revenue per segment (€m) FY 2024 FY 2023 CHG.% MEDIA Advertising revenue up 2% YoY in 2024 Media 2,011 1,967 2.2% Linear: stable ad revenue despite • The Paris 2024 Olympic Games on FTV Advertising revenue 1,644 1,606 2.3% • A more challenging market in the last two months of the
Slide 42: FY 24 Current operating profit from activities per segment
FY 24 Current operating profit from activities per segment (€m) FY 2024 FY 2023 CHG. MEDIA • COPA margin broadly stable in 2024 Media 259 256 0.9% despite an increase in programming o/w programming costs (986) (960) 2.7% costs and investments in TF1+ Margin STUDIO TF1 • Back to double-digit margin S
Slide 43: FY 24 consolidated income statement
FY 24 consolidated income statement (€m) FY 2024 FY 2023 CHANGE Consolidated revenue 2,356 2,297 2.6% Total costs of programmes (986) (960) 2.7% Other charges, depreciation, amortisation and provisions (1,073) (1,049) 2.3% Current operating profit from activities 297 287 3.2% Margin from activities
Slide 44: Solid net cash position at end-December 2024
Solid net cash position at end-December 2024 NET CASH POSITION Free cash flow before changes in WCR €229 million Stable year on year 518 (9) (280) (38) (61) 505 506 €m (129) Free cash flow after changes in WCR €191 million Opening net cash Operating Lease Net capital Change in operating Acquisitions
Slide 45: 9% increase in dividend per share yoy
9% increase in dividend per share yoy 2018-2024 EVOLUTION (€/SHARE) CAGR +7.0% €0.60 €0.55 €0.50 € 127m1 €0.40 €0.45 €0.45 € 0.60 €0.0 PER SHARE 2018 2019 2020 2021 2022 2023 2024 COVID DIVIDEND YIELD2 5.6% - 6.8% 5.1% 6.9% 7.7% 8.2% 45 1 Based on 211,021,535 shares at 31/12/2024 INVESTOR PRESENTATI
Slide 46: Acquisition in August 2024 of 63% of Johnson Production Group
Acquisition in august 2024 of 63% of Johnson Production Group1 Strategic move enabling Studio Packaging, financing, TF1, which already owns Reel One2, to further strengthen its ambition 63% stake valued around production and distribution in the dynamic and resilient TV €80m (subject to customary mov
Slide 47: BONJOUR! TF1’S MORNING SHOW INVESTOR PRESENTATION
47 BONJOUR! TF1’S MORNING SHOW INVESTOR PRESENTATION
Slide 48: Contact
Contact TF1 GROUP Pierre-Alain GÉRARD Stéphane FEIST 1 Quai Du Point Du Jour EVP Finance, Strategy & Procurement Head of Investor Relations 92 656 Boulogne-billancourt Cedex France sfeist@tf1.fr https://www.groupe-tf1.fr/en Adrien WIART Head of M&A, Business Plan Anaïs AMGHAR INVESTOR RELATIONS TEAM
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