Slide 1: Investor presentation Post FY 2025 results
Investor presentation Post FY 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 FY 2025 financials
01. Who we are P.4 02. Strategy update P.8 03. FY 2025 financials P.15 04. Segment deep dive P.23 05. Share information P.33 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 2025 REVENUE 2025 REVENUE BROADCASTING, STREAMING, CONTENT PRODUCTION OTHER ACTIVITIES €1.9bn & DISTRIBUTION €376m FTA CHANNELS DRAMA / SCRIPTED THEME CHANNELS ENTERTAINMENT STREAMING SERVICES ADVERTISING ASSOCIATED TV MOVIES ANIMA
Slide 7: Highlights
Highlights Broadly stable Ad revenue impacted Strong consolidated by structural trends, growth Strengthened audience leadership revenue exacerbated by an in digital LFL & AT CONSTANT FX unstable environment W<50PDM 25-49 Y/O TF1+ Group revenue Group advertising revenue advertising revenue 34.5% 30.9
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 INVESTOR PRESENTATION
Slide 11: Linear: consolidate our market share in a declining TV ad market
Linear: consolidate our market share in a declining TV ad market With our powerful franchises With a new segmentation of our ad offering generating leading share of premium ad inventories on commercial targets Iconic unscripted franchises Unique prime-time Multi-channel inventories offer Premium Fre
Slide 12: Establish as a primary destination for viewers and advertisers
Establish as a primary destination for viewers and advertisers INCREASE CONSUMPTION IMPROVE MONETISATION Extend the reach Enhance catalogue with Develop new forms Address advertisers’ needs from of the Group’s content complementary audiovisual content of monetisation brand awareness to conversion Di
Slide 13: Enhance our media buying attractiveness on both linear and digital
Enhance our media buying attractiveness on both linear and digital and target a new market segment Enhance our media Attract buying attractiveness new advertisers Address the midtail through a dedicated offer Launch of TF1 Ad Manager 4 levers Transactional and Objectives service-oriented platform of
Slide 14: Outlook
Outlook 2026 priorities 2026 deliveries Daily shows, premium drama & unscripted content for French and foreign broadcasters as well as global streaming services Secure the business in France with long-standing partners Matar Zodiaque a un oso Day One Keep broadening the client mix via platform colla
Slide 15: FY 2025 financials
03. FY 2025 financials SECRET STORY
Slide 16: Consolidated revenue per segment
Consolidated revenue per segment MEDIA (€m) Q4 2025 Q4 2024 CHG.% FY 2025 FY 2024 CHG.% Advertising ▪ Continued strong momentum for TF1+, Media 535 612 (12.6%) 1,921 2,011 (4.5%) with 36% growth ▪ Linear impacted by structural trends Advertising revenue 453 497 (9.0%) 1,574 1,644 (4.3%) and exacerba
Slide 17: Current operating profit from activities per segment
Current operating profit from activities per segment (€m) Q4 2025 Q4 2024 CHG. FY 2025 FY 2024 CHG. MEDIA Impact from decrease in linear Media 41 68 (27) 212 259 (47) advertising revenue mitigated by: o/w programming costs (305) (315) +10 (967) (986) +19 • Active portfolio management generating a €3
Slide 18: Consolidated income statement
Consolidated income statement (€m) Q4 2025 Q4 2024 CHG. FY 2025 FY 2024 CHG. Consolidated revenue1 699 765 (8.7%) 2,297 2,356 (2.5%) Programming costs (305) (315) +10 (967) (986) +19 Other charges, depreciation, amortisation and provisions (333) (352) +19 (1,078) (1,073) (5) Current operating profit
Slide 19: Solid net cash position at end-December 2025
Solid net cash position at end-December 2025 Free cash flow before changes in WCR €85 million NET CASH POSITION 447 +€9m year on year (12) 506 19 515 (350) 17 (112) €m Free cash flow after changes in WCR €102 million Opening net cash Net cash Repayment of Net capital Changes in Acquisitions / Divide
Slide 20: FY 2025 key takeaways
FY 2025 key takeaways Tackling advertising market headwinds to mitigate impact on COPA Market share gains across the board • Strong momentum for TF1+ (+36% ad growth, significantly outperforming digital ad market) • Market share gain in linear (outperformance vs low double-digit percentage decline f
Slide 21: Proposed 5% increase in dividend per share YoY
Proposed 5% Dividend trend (2021-2025) (€/share) increase in dividend per share YoY +40% €0.632 €0.60 €0.55 € 133m1 €0.50 €0.45 € 0.63 PER SHARE 2 2021 2022 2023 2024 2025 DIVIDEND YIELD3 1 Based on 211,284,237 shares at 31/12/2025 5% 7% 8% 8% 8% 2 Subject to approval by the Annual General Meeting o
Slide 22: Full-year 2026 guidance
Full-year 2026 guidance Capitalising on its strategy, on its new digital Against a backdrop of rapidly changing consumption initiatives and on its solid financial position, habits and a persistently unstable macroeconomic and the Group’s targets are as follows: political environment, the linear adve
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 77% TF1 DTT channels TF1 channel 53% 11% of TV 10% 43% of TV 41% sales contribution of investments sales contribution of investments 34% TF1 DTT channels TF1 channel ROI: €
Slide 26: Audience leadership in FY25
Audience leadership in FY25 Best ratings on targets Significant lead over main competitor W<50PDM 25-49 Y/O 15-34 Y/O 34.5 +9.5 pts W<50PDM vs main competitor 22.9 43/50 43/50 43/50 13.4 9.0 4.7 4.4 3.8 2.9 2.8 2.4 2.0 1.8 0.7 0.5 Best ratings in all genres * TF1 M6 F2 TMC W9 TFX F3 6ter Gulli F5 LC
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% 38m AIDED FIRST STREAMERS3 AD CPM monthly average AWARENESS1 VISIBILITY2 LOAD €13.5 in 2025 81% 69% vs 33m in 2024 5’14 20
Slide 28: Promising launch of micropayment
Promising launch of micropayment Previews (launched in September) Live channel Ad-free content (launched in October) French drama Daily soaps Reality shows Entertainment French drama Daily soaps Reality shows €0.99 €0.69 €0.69 €0.99/day €1.99 €0.99 €0.69 €0.69 700k transactions 1 while only develope
Slide 29: Segment deep dive
04. Segment deep dive MARIE-ANTOINETTE
Slide 30: A multi-territorial presence
a multi-territorial presence 30 INVESTOR PRESENTATION
Slide 31: A wide pool of producers
a wide pool of producers France United-Kingdom Netherlands Belgium Germany Norway Sweden USA Spain Finland Denmark Canada 31 INVESTOR PRESENTATION
Slide 32: FY25 highlights
FY25 highlights Drama Production Distribution Revenue of €376m in 2025 +9% year on year COPA of Movies Unscripted €40m in 2025 +€2m year on year ~1.2m ~705k ~490k ~470k 32 tickets sold tickets sold tickets sold tickets sold INVESTOR PRESENTATION
Slide 33: Share information
06. Share information LCI MORNING SHOW
Slide 34: 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 7 CFI: ESVUFN ICB: 403010 Media ANALYSTS Ticker: TFI 47% Major Market Indexes: 28% • SBF 120 2/7 BUY • CAC MID 60 • C
Slide 35: Bonjour! TF1's morning show
35 BONJOUR! TF1’S MORNING SHOW INVESTOR PRESENTATION
Slide 36: Contact
Contact TF1 GROUP Pierre-Alain GÉRARD 1 Quai Du Point Du Jour EVP Finance, Strategy & Procurement 92 656 Boulogne-billancourt Cedex France https://www.groupe-tf1.fr/en Adrien WIART Stéphane FEIST Head of M&A, Business Plan Head of Investor Relations INVESTOR RELATIONS TEAM & Investor Relations sfeis
Slide 37: Slide 37