RTL Annual Report 2022 final

2 Key figures Share performance 1 January 2022 to 31 December 2022 in per cent Index = 100 RTL Group Annual Report 2022 – 12.16 % SXMP – 16.55 % RTL Group –29.22 % MDAX – 41.51 % ProSiebenSat1 RTL Group share price development for January to December 2022 based on the Frankfurt Stock Exchange (Xetra) against MDAX, Euro Stoxx 600 Media (SXMP) and ProSiebenSat1 RTL Group revenue split 22.6 % Content 17.1 % Digital 11.0 % Other 40.5 % TV advertising 2.7 % Radio advertising 6.1 % Distribution revenue RTL Group’s revenue is well diversified, with 40.5 per cent from TV advertising, 22.6 per cent from content, 17.1 per cent from digital activities, 6.1 per cent from distribution revenue, 2.7 per cent from radio advertising, and 11.0 per cent from other revenue.

Key figures 3 Revenue 2018–2022 (€ million) Adjusted EBITA* 2018–2022 (€ million) 22 21 20 19 18 7,224 6,637 6,017 6,651 6,505 22 21 20 19 18 *See Key performance indicators on pages 58 to 59 1,083 1,152 853 1,156 1,171 Group profit 2018–2022 (€ million) Equity 2018–2022 (€ million) 22 21 20 19 18 766 1,454 625 864 785 22 21 20 19 18 *This figure has been adjusted (see note 1.30) 5,213 5,304 * 4,353 3,825 3,553 Market capitalisation* 2018–2022 (€ billion) Total dividend/ dividend yield per share 2018–2022 (€) (%) 22 21 20 19 18 *As of 31 December 6.1 7.2 6.2 6.8 7.2 22 21 20 19 18 4.00 9.5 5.00 10.3 3.00 8.9 Nil* – 4.00 6.3 ** On 2 April 2020, RTL Group’s Board of Directors decided to withdraw its earlier * proposal of a € 4.00 per share dividend in respect of the fiscal year 2019, due to the Covid-19 outbreak Including an interim dividend of € 1.00 per share, paid in September 2018 ** Operating cash conversion rate* 2018–2022 (%) Streaming revenue* 2019–2022 (€ million) 22 21 20 19 18 54 114 123 105 90 22 21 20 19 *Calculated as operating pre-tax free cash flow as a percentage of Adjusted EBITA. See Key performance indicators on pages 58 to 59 for further information on Adjusted EBITA 267 223 170 141 * Streaming revenue includes SVOD, TVOD, in-stream and distribution revenue from RTL+ in Germany and Hungary and Videoland/RTL XL in the Netherlands

10 RTL Group Annual Report 2022 “ RTL Group has the creativity, flexibility and investment capacity to future-proof our core business and take advantage of growth areas such as streaming, content production and advertising technology.” Strong financial results A three-priority strategy RTL Group’s revenue increased by 8.8 per cent to a record level of € 7.2 billion, exceeding € 7 billion for the first time in the Group’s history. Revenue growth was driven by scope effects at RTL Deutschland and higher revenue from Fremantle and RTL Nederland. Due to the strong performance of these two business units, Group revenue was up 1.6 per cent organically, despite lower TV advertising revenue from our two largest broadcasting operations in Germany and France. RTL Group’s full-year Adjusted EBITA decreased 6.0 per cent to € 1,083 million. This was mainly due to higher streaming start-up losses, which increased from € 166 million in 2021 to € 233 million in 2022. With our families of TV channels in Germany, France and the Netherlands continuing to generate high operating profits, our Adjusted EBITA before streaming start-up losses remained stable, on the same record level as last year. RTL Deutschland gained audience shares and increased its lead over its main commercial competitor ProSiebenSat1. The free-to-air channels of Groupe M6 scored their best primetime audience share ever, and once again generated an Adjusted EBITA of more than € 300 million. RTL Nederland had a fantastic year, gaining audience shares, while growing its streaming service Videoland. As a result, RTL Nederland’s Adjusted EBITA was up 50 per cent to € 161 million. Our global content business Fremantle also reported its highest Adjusted EBITA ever, which was up 15 per cent to € 162 million. To summarise: RTL Group combines high earnings, cost discipline and significant investments in content, streaming, tech & data. On this basis, the Group’s Board of Directors has proposed a dividend of € 4.00 per share for 2022 including €0.50 that relates to the disposals of RTL Belgium and RTL Croatia. This proposal is in line with our dividend policy and represents a dividend yield of 9.5 per cent. RTL Group’s strategy, which is based on three priorities, remains unchanged. Firstly, to strengthen RTL Group’s core businesses by investing in premium content, strengthening our families of channels, focusing on cost control and portfolio management, and driving market consolidation. Secondly, to expand the Group’s growth businesses, in particular our streaming services, advertising technology and addressable TV, and global content production from Fremantle. And finally, to foster alliances and partnerships which span from advertising sales and content production to tech & data. Below, I will provide more detail on our achievements in our growth businesses of streaming and content, which progressed significantly in 2022. We continued to invest substantially in premium content across all genres – from news to fiction, live sports, entertainment shows and reality TV. Exclusive content strengthens our linear TV channels and is key to gaining new subscribers for our streaming services. RTL Deutschland signed agreements with Warner Bros. Entertainment and Paramount Global for attractive programme packages and acquired extensive rights for live sports events, such as football matches from the German national team, the Uefa Europa League and the US National Football League (NFL), including the Super Bowl. In France, Groupe M6 will air matches from the 2023 Rugby World Cup, the Uefa Euro 2024 and the finals of the Uefa Champions League from 2025 to 2027. In total, RTL Group’s TV broadcasters and streaming services invested €2.3 billion in programming during 2022. In our business, content is the basis for success – and we are committed to maintaining a high level of programme investment.

Chief Executive’s report 11 The RTL Management Meeting took place in September 2022, uniting 130 executives from across RTL Group. Thomas Rabe shared the stage with other presenters to discuss topics related to strategy, diversity and independent journalism. Continued dynamic streaming growth By the end of 2022, we achieved a total of 5.5 million paying subscribers for RTL+ in Germany and Hungary, and Videoland in the Netherlands – representing an increase of 44 per cent year on year. Streaming revenue was up by 20 per cent to € 267 million. In Germany, we are gradually expanding our cross-media offer. In August 2022, RTL Deutschland launched the RTL+ Musik app. In addition to video content, RTL+ users now have access to more than 90 million songs. To achieve this, RTL+ entered into a partnership with Deezer, one of the world’s leading music streaming services, which is exclusive in the German market. Most recently, podcasts were added to RTL+ Musik, followed by a growing selection of audiobooks. Ultimately, we aim to bundle our entertainment offers in one multimedia app to provide to our customers a personalised, state-of-the-art experience. In autumn, RTL Hungary introduced our unified RTL brand identity and launched a new streaming service, also called RTL+. The new service offers exclusive local content – a unique feature in the Hungarian streaming landscape – and is based on the technology of Bedrock, RTL Group’s streaming tech company. In the Netherlands, Videoland successfully finalised the migration of its subscribers to the Bedrock platform. RTL is on track to reach its ambitious streaming targets. By 2026, we plan to double our annual content investments to around € 600 million in comparison to 2022. On this basis, we aim to grow the number of paying subscribers for RTL+ and Videoland to 10 million by the end of 2026, to increase our streaming revenue to € 1 billion, and to reach profitability in 2026.

12 RTL Group Annual Report 2022 Stronger, more creative, more diverse Consolidation remains on the agenda One year ago, I wrote in this report that we also have big ambitions for Fremantle. We intend to accelerate the company’s expansion, both organically and via M&A, with a revenue target of € 3 billion by 2025, thus doubling the revenue compared with 2020. We have already made a big step towards this goal. In 2022, Fremantle’s revenue grew by 22 per cent to over € 2.3 billion, or by 8 per cent organically. In total, Fremantle completed eight acquisitions and step-ups in 2022, in all major territories and across all genres – from the Italian high-quality fiction producer Lux Vide to the award-winning film and drama production company Element Pictures and documentary producers 72 Films and Wildstar Films. Working with world-class storytellers and being the partner of choice for international talent – such as Angelina Jolie, Richard Brown, Edward Berger and Salma Hayek Pinault – is key to the success of Fremantle. Fremantle has become an even stronger, more creative, more diverse global content powerhouse – both in terms of geographic footprint and output across entertainment, drama and film, and documentaries. While continuing to look for acquisitions and partnerships, we will increasingly focus on the integration of the acquired companies in the Fremantle network and on lifting the margins. Over the past years, we have transformed the portfolio of RTL Group. We have divested a series of smaller and non-core assets with significant capital gains, boosted Fremantle and built national streaming champions with RTL+ and Videoland. Unfortunately, we did not succeed with two larger consolidation moves for our broadcasting businesses in France and the Netherlands: the planned combinations of Groupe TF1 and Groupe M6 and of RTL Nederland and Talpa Network. In both countries, the competition authorities did not take into account the speed and extent of the changes in the European media landscape and the impact of these changes on local media companies. Above all, we see these as missed opportunities for us and the European media industry. RTL Group remains convinced that market consolidation is necessary to compete with the global tech platforms – and that market consolidation will happen in the European TV markets sooner or later. Thus, we remain committed to scaling up our TV and streaming businesses. There are other ways to scale, but they take longer: smaller acquisitions and partnerships across advertising sales, advertising and streaming technology, content creation, distribution and data. In order to further strengthen RTL Deutschland’s leading position and journalistic relevance in Germany, we thoroughly reviewed the publishing business which we acquired at the beginning of 2022. The current macroeconomic environment puts the publishing business under particular pressure, with decreasing advertising and circulation revenue, and higher costs for energy and paper. We thus decided to focus on core brands such as Stern, Geo, Capital, Brigitte and Gala. By 2025, we will invest around €80 million in their transformation, primarily in paid digital content and services. The combination of RTL Deutschland’s TV, streaming and publishing businesses creates value in the form of synergies of around €75 million annually, in such areas as content creation, advertising sales, tech & data and corporate functions. “ Working with world-class storytellers and being the partner of choice for international talent – such as Angelina Jolie, Richard Brown, Edward Berger and Salma Hayek Pinault – is key to the success of Fremantle.”

Chief Executive’s report 13 Ready for the future The international media industry is currently in the middle of a major transformation. This causes significant challenges and tough decisions – but also presents huge opportunities. RTL Group has the creativity, flexibility and investment capacity to future-proof our core business and take advantage of growth areas such as streaming, content production and advertising technology. With our strong financial position and clear strategy, I am confident that we will continue to prosper as Europe’s leading entertainment company. Thomas Rabe and his Executive Committee colleagues, Deputy CEO & COO Elmar Heggen (left) and CFO Björn Bauer (right), at the RTL Management Meeting 2022.

Our role in society 15 in society Viva la Diva – Wer ist die Queen? (Viva la Diva – Who is the Queen?), a German entertainment show with flamboyant make-up, wigs and dazzling outfits, celebrates the beauty of diversity and embraces colourful personalities. Our clear set of brand principles defines who we are, what we do and what we stand for. RTL stands for entertainment, independent journalism, inspiration, energy and attitude with one overriding purpose: just inspire. We respect people, the natural world and the communities we serve. We take a stand and embrace diversity and cohesion, sustainability and humanity. We think globally and act locally.

16 RTL Group Annual Report 2022 The creative community We succeed in entertainment by building inspiring environments where creative and pioneering spirits can thrive. Our broadcasters and streaming services commission content from production companies or their own in-house producers. Our global production company Fremantle commissions scriptwriters, artists, and many other creatives, and our talent agency and digital studio We Are Era showcases young video talent. To enhance our creative output, we continue to develop strategic alliances and partnerships. Within the Bertelsmann Content Alliance, RTL Group companies work closely with other Bertelsmann companies on several content cooperation projects – not only adding value and a competitive edge, but also aiming to attract fresh new artists and creators. We also continue to innovate in the market by, for example, expanding RTL+ to become a unique cross-media entertainment service offering video, music, podcasts and audiobooks. Whether we buy a programme from a production company, create one ourselves or within a partnership, the production of quality content requires substantial investment. Our ability to recoup this investment is grounded in our exclusive rights to show and distribute the programme in a particular geographic area. RTL Group’s broadcasters’ programme spend in 2022* 44.5 % Local productions 20.6 % News, magazines and sports 14.4 % Other programming costs 20.5 % Acquired programming *based on fully consolidated businesses Successful programmes attract large audiences that, in turn, attract advertisers who pay us to show their advertisements. This cycle ensures production companies and other creators are suitably rewarded, so they can continue to develop new, entertaining and compelling content. Maintaining the integrity of this cycle is crucial, which is why copyright is the lifeblood of our industry. Effective protection and enforcement of intellectual property rights are especially important in a digital world, where people can watch whatever they want, wherever they want, whenever they want. Without this protection and enforcement, the rewards to creators would fade away – as would their creativity. Our unwavering commitment to copyright is therefore one important way we add value to society. Viewers, listeners, digital users Every day, millions of people access RTL Group’s content on television, streaming services, digital platforms and radio on a range of devices. This audience is at the heart of what we do. Over the years, we’ve grown by covering the events and issues people care about – and we’ve never strayed from our commitment to be refreshingly different and always close to our audience. The millions of people who turn to us each day for the latest news must be able to trust us. A healthy, diverse and high-quality media landscape is the foundation of a democratic and connected society, which is why our local CEOs act as publishers and do not interfere with editorial decision-making or restrict the independence of our editorial staff. Our news editors-in-chief apply rigorous ethical standards and ensure compliance with local guidelines. This allows our journalists the freedom to express a range and balance of opinions that reflect the diverse societies we serve. Since the early 1990s, we’ve been building families of TV channels, radio stations, digital platforms and streaming services. They offer our audiences a vast range of high-quality entertainment and information programmes that people from all demographics and circumstances can enjoy. We also take great care to protect all media users – especially minors. More than 1,000 visitors and 400 content creators gathered for the VideoDays Festival 2022, hosted by We Are Era.

Our role in society 17 Our people Our business is based on talent. We depend on the creativity and dedication of our employees, so we give our people the freedom to create. We want to be the employer of choice, attracting and retaining the best talent. To help us achieve this, we offer attractive salaries and other financial incentives, plus a wide range of training and coaching to help our people develop both personally and professionally. We foster a fair, flexible and inspiring work environment that encourages a healthy work-life balance. The Covid-19 crisis has deeply changed the world of work. The balance between working in the office and remotely is a relevant step to continue offering flexibility and efficiency for those employees whose functions do not require office presence. With a diverse audience, we need to be a diverse business. To remain an attractive and successful employer, we reflect the audiences we entertain, and so we embrace workplace diversity in gender, ethnicity, disability and socio-economic status. We offer equal opportunities and recognise everyone’s unique value, treating each person with courtesy, honesty and dignity. In our Diversity Statement, we reinforce our commitment to equal opportunities and non-discrimination throughout all RTL Group companies. In 2022, Fremantle continued its partnership with The TV Collective on the Breakthrough Leaders programme in the UK, supporting 150 black, Asian and minority-ethnic future leaders. In Sweden, Fremantle’s leadership team is participating in an external mentoring programme, All of Us, for young people of colour in the creative industries and supporting the WomenUp programme, which consists of 40 women and their mentors and addresses the female leadership gap. In Germany, RTL Deutschland initiated its first diversity week to place LGBTIQ+ people at the centre of its content. On screen, the German RTL+ original film Weil wir Champions sind (Because we are champions) launched, which features nine actors with disabilities and tells the story of an inclusive basketball team. The documentary Rote Karte statt Regenbogen – Homosexuelle in Katar (Red cards instead of rainbows – Homosexuals in Qatar), with Jonas Gerdes, Reporter at NTV and RTL Television, and Timo Latsch, Deputy Head of Sports at RTL News, addresses the human rights discussion around the Fifa World Cup in Qatar. In RTL Deutschland's sustainability week focusing on energy, authors André and Shari Dietz promoted a new detergent from Ariel to save energy while washing clothes. Advertisers Television and video offer the most effective forms of advertising. TV remains the dominant ingredient in the advertising mix, with its ability to reach mass audiences. It establishes the key message of a major advertising campaign in a brand-safe environment, which then resonates across other media. We continue to take action to expand our position in the rapidly growing markets for addressable TV and online video advertising. Television and video advertisements work best when they tell interesting, informative stories that connect with viewers’ emotions. Together, high-quality programming and engaging advertisements are the basis for successful free-to-air broadcasting. Advertising helps shape people’s lifestyles, guides their purchasing decisions and keeps the global economy moving. It also fosters media neutrality – an essential ingredient of a democratic society. Our free-TV channels are mainly financed by advertising. Advertising remains a major contributor to economic growth – and a Europe without advertising would be less affluent, informed and competitive. Advertising different products and services doesn’t just give consumers choice – it can encourage the competition and innovation that maintain that choice. We also help our advertising clients with their environmental ambitions. Our German advertising sales house Ad Alliance joined the Green GRP initiative, with the aim of offsetting campaigns’ carbon dioxide emissions. As well as continuing to create carbon- neutral advertising slots, M6 Publicité in France created a new advertising offer – Comportements Responsables (Responsible Behaviour) – which highlights commercials from brands that meet one of eight responsible shopping behaviours.

18 RTL Group Annual Report 2022 Communities and charities As a leading entertainment company across broadcast, streaming, content and digital, we have social responsibilities to the communities and audiences we serve. These include raising awareness of important social and environmental issues, particularly those that might otherwise go unreported or under-funded. We do this through TV and radio reports, magazine programmes and series, and on many digital platforms. We are well aware of the care and responsibility we must take as both an opinion former and information provider. We give back to our communities by using our profile to raise public awareness of, and funds for, important social issues. We provide free airtime worth several million euros to charities and non-profit organisations to enable them Project sponsor Michaela May visits Kenya on behalf of Stiftung RTL – Wir helfen Kindern. to raise awareness for their cause. Since 1996, the annual RTL-Spendenmarathon in Germany has raised more than € 266 million for children in need. A total of € 41,107,923 was donated during the 2022 RTL-Spendenmarathon. In 2022, we raised more than € 2 million through our Télévie charity events in Luxembourg. The donations support scientific research to fight cancer – particularly leukaemia. We also support many organisations and projects that help sick or disadvantaged children and young people in Hungary, the UK, France and the Netherlands. The German actress Michaela May, who is a sponsor of the RTL-Spendenmarathon, travelled to Kenya in 2022 to uncover the tragic situation of children there and call for donations. Deutsche Welthungerhilfe uses these donations to transport emergency supplies to the region and distribute nutritional supplements, hygiene kits and medical products to malnourished children and mothers. 150 colleagues from RTL joined the Télévie Challenge in Luxembourg, raising money for cancer and leukaemia research.

Our role in society 19 Environment We work hard to combine our business success with responsible action to protect the environment. Conserving resources and protecting the climate are key challenges in today’s society. We aim to minimise our impact on the environment by reducing our energy use and the direct and indirect emission of greenhouse gases. We aim to become carbon neutral, with regards to company-related carbon dioxide emissions, by 2025 and to reach full carbon neutrality by 2030, including product-related emissions. In 2022, we continued to work intensively with our Group-wide Climate Task Force on environmental issues, such as implementing greener productions to reduce our carbon footprint. In addition, we use our scale and reach to draw attention to environmental issues. Since 2019, RTL Deutschland is organising regular sustainability weeks to promote socially relevant topics and a sustainable future. Groupe M6 also provides extensive on-air, online and social media coverage to put environmental topics in the spotlight. In November 2022, RTL Nederland launched its first themed sustainability week. ‘’Samen Groener’’ (Greener Together) took place across all channels and digital platforms, in order to address the critical topic of plastic pollution. Dirk Steffens, one of Germany’s best-known science journalists, speaks up during RTL Deutschland’s ‘Packen wir’s an!’ (Let’s do it) themed week, which focuses on energy-related measures for a sustainable life. The documentary series Patagonia: Life on The Edge of The World, which is distributed by Fremantle, follows explorer and conservationist Isai Madriz through South America’s mountainous region of Patagonia.

22 RTL Group Annual Report 2022 RTL Group’s 2022 revenue reached €7.2 billion, exceeding €7 billion for the first time, with particularly strong performances at RTL Nederland and Fremantle. As for profitability, our Adjusted EBITA reached €1,083 million, a level in line with the guidance we issued in March 2022, despite significantly higher streaming start-up losses. The Board of Directors is therefore proposing a dividend of €4.00 per share in respect of 2022, which corresponds to a yield of 9.5 per cent on the average share price for the year. Among many notable operational successes across our Group, RTL Nederland increased its audience share, while growing its streaming service Videoland. In Germany, RTL Deutschland also increased its audience share and its lead over its main commercial competitor. The free-to-air channel Vox, which celebrated its 30th anniversary in 2022, enjoyed a particularly strong year – and is now the third most-watched commercial channel among young viewers. Our German streaming service RTL+ increased subscriber numbers by 48 per cent in 2022, reaching more than 4 million by the end of the year. Meanwhile, our global content business Fremantle achieved many prominent nominations and awards, most notably an Oscar nomination for The Hand of God and two awards for Bones and All at the Venice Film Festival. From a strategic viewpoint, the picture was more mixed in 2022. We made a number of important steps, especially at Fremantle, which completed eight acquisitions and step-ups during the year across various genres – fiction, film, drama, documentaries – on its path to becoming a € 3 billion company by 2025. We continue to reshape our portfolio to focus on our larger units, and 2022 saw the disposal of RTL Belgium, VideoAmp and RTL Croatia. But there were also strategic setbacks. In particular, plans in France to merge Groupe M6 with Groupe TF1, and in the Netherlands to combine RTL Nederland with Talpa Network, failed to secure approval from the relevant competition authorities. In my statement last year, I explained the Board’s enduring conviction that in-country consolidation in broadcasting will eventually be required to enable us to compete with the global streaming giants. We knew, of course, that it was far from certain that the competition authorities would be prepared to look beyond the traditional definition of the linear TV advertising market – even though global players such as Netflix and Disney have recently added ad-supported models to their streaming services. The official answer, for the time being at least, was disappointing, but the answer is only found by asking the question. I regard it as noteworthy that, in both France and the Netherlands, a serious and mature public debate about developments in the international media market took place – even if our own preferred solutions did not prevail. One unfortunate consequence of the blocking of the proposed French transaction has been the closure of the streaming platform Salto, set up as a joint project between Groupe TF1, Groupe M6 and the French public broadcaster. Salto may truly be said to have been regulated out of existence. The competition authorities took a year to approve its creation and imposed such significant constraints on its management that its development was severely handicapped. Our plan was, had the TF1/M6 merger been approved, to run it with the merged entity as the sole shareholder, which would have allowed the control and flexibility necessary for Salto’s success. This was not to be. “ We have been particularly pleased to note the progress made towards our target of increasing the share of female executives in top and senior management to 40 per cent by 2025, and the reduction in our carbon footprint on the way to becoming carbon neutral by 2030.”

Chairman’s statement One of the side-effects of the Russian invasion of Ukraine, alongside much higher energy prices, was a sharp increase in the cost of paper. As a result, RTL Deutschland’s publishing business Gruner + Jahr, which was already facing decreasing advertising and circulation revenue, was beginning to rack up serious losses and we decided that, unfortunately, a fundamental restructuring had to be undertaken. It would be fair to say this was not a popular decision, but one that was necessary to find a future for our publishing brands in a digital world. We now need to move this enterprise forward: as Thomas Rabe explains in his CEO report, we plan to invest € 80 million in the transformation of our core magazine brands in order to strengthen their leading position and journalistic relevance in Germany. Your Board has once again been busy, working to advise the Executive Committee on numerous transactions planned and undertaken, reviewing budgets and business performance, and paying particular attention to matters as varied as RTL Deutschland’s programme strategy and the Group’s positioning in the increasingly important area of ad-tech. Corporate responsibility topics have also been very much on our minds. We have been particularly pleased to note the progress made towards our target of increasing the share of female executives in top and senior management to 40 per cent by 2025, and the reduction in our carbon footprint on the way to becoming carbon neutral by 2030. 23 Last year we said goodbye to James Singh, an independent Board member and the Chair of our Audit Committee since 2011, who also served as Vice Chairman since 2019. Alongside his considerable business experience, he brought great wisdom and humanity. On behalf of the entire Board, I would like to thank him for his service to RTL Group. His place as Vice Chairman has been taken by Jean-Louis Schiltz, while Pernille Erenbjerg has become Chair of the Audit Committee. I count myself lucky to work with such colleagues, not only at Board level but throughout the Group. My thanks go to all those who have contributed to the success of our company in 2022. The achievements of the last year would not have been possible without the dedication, flexibility and resilience of the many diverse and talented individuals who make up RTL Group – and it is these individuals that we rely on for our future success. Martin Taylor Chairman of the Board of Directors

24 Executive Directors RTL Group Annual Report 2022 The Board Thomas Rabe Chief Executive Officer of RTL Group, Chairman of the Management Board of RTL Deutschland and Chief Executive Officer and Chairman of the Bertelsmann Management SE Executive Board Thomas Rabe, born in 1965, holds a diploma and a doctorate in economics from the University of Cologne, Germany. He started his career in 1989 at the European Commission in Brussels. From 1990 to 1996 he held various senior positions at Forrester Norall & Sutton (now White & Case) in Brussels, the state privatisation agency Treuhandanstalt, and a venture capital fund in Berlin. In 1996, he joined Cedel International (now Clearstream), where he was appointed CFO and member of the Management Board in 1998. In 2000, Thomas Rabe became CFO and member of the Executive Committee of RTL Group. In March 2003, he was also appointed Head of the Corporate Centre. With effect from 1 January 2006, Thomas Rabe was appointed to the Executive Board of Bertelsmann AG as the Group’s CFO. From 2006 to 2008, he was also responsible for Bertelsmann AG’s music business. Since 1 January 2012, Thomas Rabe has been CEO and Chairman of the Executive Board of Bertelsmann. In May 2019, Thomas Rabe was appointed member of the Supervisory Board of Adidas AG and has served as Chairman since 11 August 2020. On 1 April 2019, Thomas Rabe was appointed CEO of RTL Group and since August 2022, he has been Chairman of the Management Board of RTL Deutschland. Nationality: German First appointed: 12 December 2005 (effective 1 January 2006) Re-elected: 28 April 2021 Mandates in listed companies: Chairman of the Supervisory Board of Adidas AG, Herzogenaurach Elmar Heggen Chief Operating Officer and Deputy Chief Executive Officer, RTL Group Elmar Heggen, born in 1968, holds a diploma in business administration from the European Business School Oestrich-Winkel, and graduated with a Master of Business Administration (MBA) in finance. In 1992, he started his career at the Felix Schoeller Group, becoming Vice President and General Manager of Felix Schoeller Digital Imaging in the UK in 1999. Elmar Heggen first joined the RTL Group Corporate Centre in 2000 as Vice President Mergers and Acquisitions. In January 2003, he was promoted to Senior Vice President Controlling and Investments. From July 2003 until December 2005 he was Executive Vice President Strategy and Controlling. Elmar Heggen has served on the RTL Group Executive Management Team since January 2006, and been CFO and Head of the Corporate Centre of RTL Group since 1 October 2006. In January 2018, he was appointed Deputy CEO of RTL Group, in addition to his role as CFO. Since August 2019, Elmar Heggen has been Chief Operating Officer and Deputy CEO of RTL Group. Nationality: German First appointed: 18 April 2012 Re-elected: 28 April 2021

The Board Non-Executive Directors 25 Martin Taylor Chairman and Independent Director Jean-Louis Schiltz Vice-Chairman and Independent Director, Tech Law Advisor, Professor (hon.) James Singh Vice-Chairman and Independent Director (until 27 April 2022) Martin Taylor, born in 1952, began his career as a financial journalist with Reuters and the Financial Times. He then joined Courtaulds PLC, becoming a director in 1987, then Chief Executive of Courtaulds Textiles PLC on its demerger in 1990. He moved to Barclays PLC in 1993 as Chief Executive, a post he held until the end of 1998. From 1999 to 2003, he was Chairman of WHSmith PLC, and from 1999 to 2005, International Advisor to Goldman Sachs. From 2005 until 2013, he was Chairman of the Board of Syngenta AG. From 2013 until March 2020, Martin Taylor served as an external member of the Financial Policy Committee of the Bank of England. He has worked on various projects for the British Government and served for five years as a member of its Council for Science and Technology. Appointed as Independent Non-Executive Director in July 2000 (when RTL Group was created), Martin Taylor took over the responsibilities of Vice-Chairman of the Board in December 2004. On 1 April 2019, Martin Taylor was appointed Chairman of the RTL Group Board of Directors. Jean-Louis Schiltz, born in 1964, holds a post-graduate degree (DEA) in business law from the University of Paris I, Panthéon-Sorbonne. He also taught at his alma mater in the early 1990s. From 2004 to 2009, Jean-Louis Schiltz was a cabinet minister in Luxembourg. His portfolios included media, telecommunications, technology (IT and internet in particular), international development and defence. Jean-Louis Schiltz is a tech law advisor, a senior partner at Schiltz & Schiltz (avocats) and a professor (hon.) at the University of Luxembourg. His work focuses on technology, regulatory, mergers and aquisitions, and finance. He is a regular speaker at tech law conferences and has authored and co-authored a number of articles and reports in this field. Jean-Louis Schiltz serves on the boards of a limited number of other companies. With effect from 27 April 2022, Jean-Louis Schiltz was appointed Vice-Chairman of the RTL Group Board of Directors. James Singh, born in 1946, holds a Bachelor of Commerce (Hons) and a Master of Business Administration from the University of Windsor, Canada. He is a CPA (Canada) and a Fellow of the Chartered Institute of Management Accountants (UK). James Singh joined Nestlé Canada as Financial Analyst in 1977 and served the company in various executive positions until 2000 when he was appointed Senior Vice President, Acquisitions and Business Development in Nestlé SA’s headquarters in Vevey, Switzerland. He was a member of the Executive Board, Executive Vice President and Chief Financial Officer of Nestlé SA from 2008 to 2012. He retired on 31 March 2012 after a distinguished 35-year career with Nestlé. James Singh previously served as Chairman of the Finance Committee of the European Round Table and is a Trustee of the International Reporting Foundation. He was until recently a Director of Great West Life Assurance, Director of the American Skin Association, and Chairman of the Supervisory Board of CSM Bakery Solutions Ltd. On 1 April 2019, James Singh was appointed Vice-Chairman of the RTL Group Board of Directors. His mandate as Non-Executive Director and Vice-Chairman ended on 27 April 2022. Nationality: British First appointed: 25 July 2000 Re-elected: 28 April 2021 Committee membership: Audit, Nomination and Compensation (Chairman) Nationality: Luxembourgish First appointed: 19 April 2017 Re-elected: 28 April 2021 Committee membership: Audit Nationality: Canadian First appointed: 20 April 2011 Re-elected: 28 April 2021 Committee membership: Audit (Chairman)

26 Non-Executive Directors RTL Group Annual Report 2022 Pernille Erenbjerg Independent Director Thomas Götz General Counsel, Bertelsmann SE & Co KGaA Rolf Hellermann Chief Financial Officer and member of the Bertelsmann Management SE Executive Board Thomas Götz, born in 1971, graduated from the University of Bayreuth with a doctorate in law in 1999. A year earlier, during his studies, he joined Bertelsmann’s Corporate Legal department as an in-house lawyer. From 2009 to 2013, he was Co-Head of Mergers and Acquisitions at Bertelsmann. Prior to this he worked for two years as Senior Vice President Mergers and Acquisitions. Thomas Götz has been General Counsel at Bertelsmann SE & Co KGaA since January 2014. Pernille Erenbjerg, born in 1967, was appointed as an Independent Non- Executive Director to RTL Group’s Board of Directors on 28 April 2021. Pernille Erenbjerg graduated from the Copenhagen Business School with a Master of Science in Economics. She started her career at Arthur Andersen as Auditor and Consultant and later joined Deloitte as Equity Partner. From 2003 to 2018, Pernille Erenbjerg held several positions at Denmark’s largest telecommunications company, TDC Group, most recently as Group CEO and President, and before that as Group CFO and Deputy CEO. As well as being a Non-Executive Director for RTL Group, she is Chairman of the Board of Viaplay Group, Deputy Chairman of the Board and Chairman of the Remuneration Committee at Millicom, and Deputy Chairman of the Board, Chairman of the Audit and Finance Committee, and member of the Nomination and Corporate Governance Committee at Genmab. Pernille Erenbjerg was previously Non-Executive Director at Nordea, DFDS, and the Royal Danish Theatre. Rolf Hellermann, born in 1976, studied business administration in Vallendar, Los Angeles and Nancy, and received his doctorate from WHU – Otto Beisheim School of Management in Vallendar. He started working at the Bertelsmann Corporate Centre directly afterwards, in 2004. In 2012, Rolf Hellermann became head of Bertelsmann’s Corporate Controlling and Strategy department. From 2015 until 2018 he was CFO of Arvato, the services division of Bertelsmann. He served as CEO of Arvato Financial Solutions from November 2018 until December 2020 and has been a member of Bertelsmann’s Group Management Committee since January 2019. He also heads the Bertelsmann Tech and Data Advisory Board, which advises the Executive Board on technology issues and advances Bertelsmann’s evolution into a leading global media, services and education company in tech. Rolf Hellermann was appointed CFO and member of the Board at Bertelsmann Management SE on 1 January 2021. He previously served as a non-executive member of RTL Group's Board of Directors from August 2015 to December 2018. Nationality: Danish First appointed: 28 April 2021 Committee membership: Audit (Chairman) Mandates in listed companies: Chairman of the Board of Viaplay Group Nationality: German First appointed: 15 April 2015 Re-elected: 28 April 2021 Committee membership: Audit, Nomination and Compensation Nationality: German First appointed: 1 January 2021 Re-elected: 28 April 2021 Committee membership: Audit

The Board Non-Executive Directors 27 Immanuel Hermreck Chief Human Resources Officer and member of the Bertelsmann Management SE Executive Board Guillaume de Posch Business Founder and Investor Immanuel Hermreck, born in 1969, has been Chief Human Resources Officer and member of the Executive Board at Bertelsmann Management SE since 2015. His responsibilities include the worldwide leadership of Bertelsmann’s HR function, with particular attention to executive development, organisational learning and education, compensation, HR strategy, services, corporate responsibility and corporate culture. Immanuel Hermreck was appointed Global Head of HR for Bertelsmann in 2006. Before this, he was Director of the Media Economics Department at the Bertelsmann Foundation, and became Managing Director of Bertelsmann University – the company’s global knowledge and learning institution – in 2000. Guillaume de Posch, born in 1958, started his career at the international energy and services company Tractebel (1985 to 1990) and then joined the global management consulting firm McKinsey & Company (1990 to 1993). He began working in the media industry at the Compagnie Luxembourgeoise de Télédiffusion (CLT) as assistant to the Managing Director (1993 to 1994) before becoming Head of CLT’s TV operations in French-speaking countries (1995 to 1997). From 1997 to 2003, he was Deputy General Manager and Programming Director of the French pay-TV company TPS, before joining the publicly listed ProSiebenSat1 Media AG in August 2003, first as Chief Operating Officer and then as Chairman of the Executive Board and CEO (2004 to 2008). Immanuel Hermreck volunteers as a member or trustee of several non-profit organisations, including as a founding Executive Committee member of the German Association of HR Managers. He holds a PhD in communication and economics, and is both a Stanford University graduate and a former scholar of the prestigious Konrad-Adenauer Foundation. Guillaume de Posch was appointed Chief Operating Officer and member of the RTL Group Executive Committee on 1 January 2012. With effect from 18 April 2012, Guillaume de Posch assumed the role of Co-CEO of RTL Group. In January 2018, he stepped down as Co-CEO and has since served as a non-executive member of RTL Group’s Board of Directors. Guillaume de Posch has served as President of the ACT (Association of Commercial Television) in Europe since 2017. Nationality: Belgian First appointed: 18 April 2012 Re-elected: 28 April 2021 Nationality: German First appointed: 12 December 2018 (with effect from 1 January 2019) Re-elected: 28 April 2021 Committee membership: Nomination and Compensation

28 Non-Executive Directors RTL Group Annual Report 2022 Bettina Wulf Senior Vice President Corporate Legal, Bertelsmann Lauren Zalaznick Media Executive and Industry Advisor, Independent Director Bettina Wulf, born in 1962, has been a member of the Corporate Legal Department at Bertelsmann SE & Co KGaA since July 1993. Prior to this she worked as an in-house lawyer for an international IT company, with a particular focus on global mergers and acquisitions. Bettina Wulf graduated from the University of Bielefeld, Germany, with a degree in law in 1988. In 2014, she was honoured by the International Law Office with the European Counsel Award for her prominent role in highly complex merger and acquisition transactions requiring level-headed negotiation skills. Lauren Zalaznick, born in 1963, began her career making independent feature films. Zalaznick moved on to become a TV executive, most recently Executive Vice President, Comcast NBC Universal, where she was responsible for overseeing brands such as Bravo, Oxygen, Telemundo, and Fandango. She now advises the world’s leading digital and media brands. Zalaznick has devoted her career in media to transforming the cultural landscape, and has been responsible for the growth of some of the strongest TV and digital brands in media. She is widely recognised as an industry shape-shifter and innovator, and has received many honours for her achievements. Aside from many Emmy, BDA, Webby and Peabody Award nominations and wins, Zalaznick has been named one of Time Magazine’s 100 most influential people in the world, has delivered a TED talk with close to a million views, and has been the subject of a New York Times Magazine cover story. Lauren Zalaznick is currently a director of GoPro Inc, a listed company. She is also a Trustee Emerita of Brown University, from which she graduated magna cum laude and Phi Beta Kappa. Nationality: German First appointed: 30 June 2020 Re-elected: 28 April 2021 Mandates in listed companies: Majorel Group Luxembourg SA Nationality: American First appointed: 18 April 2018 Re-elected: 28 April 2021 Mandates in listed companies: GoPro Inc Committee membership: Nomination and Compensation

Executive Committee Executive Committee 29 Thomas Rabe Chief Executive Officer Elmar Heggen Chief Operating Officer and Deputy CEO Björn Bauer Chief Financial Officer – CEO since 2019 – Portfolio responsibility: RTL Deutschland and Fremantle – Corporate Centre responsibility: Audit and European Affairs – CFO since 2019 – Corporate Centre responsibility: Finance, Investor Relations, IT and Compliance – Deputy CEO since 2018 – COO since 2019 – Portfolio responsibility: Groupe M6, RTL Nederland, RTL Hungary, We Are Era, the Luxembourg operations and both RTL Belgium and RTL Croatia until their disposal. – Representing RTL Group on the Board of Atresmedia, Spain – Corporate Centre responsibility: Business Development, Legal, Communications and Marketing, and HR. Responsibilities of the Executive Committee The Executive Committee is vested with internal management authority Active dialogue with the Board of Directors about the status and development of the Group Proposal of annual budgets, to be approved by the Board of Directors

RTL Group Annual Report 2022 30 Remuneration report 1 Introduction 1.1 Categories of persons to whom the Remuneration Report applies: The RTL Group Remuneration Policy, as published on RTL Group’s website, rtl.com, applies to the Non-Executive Directors (the “Non-Executive Directors”) and to the CEO and Deputy CEO (the “Executive Directors”) of RTL Group SA (“RTL Group”), all together the “Directors”. 1.2 This Remuneration Report concerns the financial year 2022. Non-Executive Directors 1.3 In order to achieve its goals, RTL Group must be able to attract a broad spectrum of competencies, skills, know-how and experience to its Board, mirroring RTL Group’s diverse businesses. Furthermore, the composition of the Board of Directors must embody a thorough knowledge of business dynamics and markets in the sectors of audio-visual media, communication, information and all related technologies. 1.4 Non-Executive Directors are paid only a fixed remuneration. Due to the greater responsibility and time required by their respective functions, an additional annual remuneration is granted to the Chairman and the Vice-Chairman of the Board, and to the Chairmen of the Board’s sub-committees. Such remuneration is prorated in case the Director concerned is appointed to, or leaves, the Board during the year. 1.5 The Board of Directors may grant additional remuneration or indemnities to those Board members who are entrusted with specific duties or missions. They shall not receive incentives nor other forms of variable compensation from RTL Group. Executive Directors 1.6 The Remuneration Policy’s section addressing Executive Directors is designed to support RTL Group’s high-performance culture and the creation of long-term sustainable value for its shareholders. Its goal is to reward Executive Directors with an attractive compensation, in line with the market, which is conditional upon both their own and RTL Group’s performance, and which beyond driving performance, also aims to attract and retain the best talent. As a result of the general principles outlined above, the proportion of performance-related pay is generally higher for the Executive Directors than for lower ranking executives in the Group. 1.7 Executive Directors are compensated in line with their responsibilities, and according to both their own and the company’s performance.

Remuneration report 31 2 R emuneration of the Non-Executive Directors (or members of the Board of Directors) The Non-Executive Directors receive a fixed fee for their attendance at the meetings of the RTL Group Board of Directors. No variable remuneration, pension rights, options, loans nor other benefits were granted to the Non-Executive Directors during the financial year 2022. The detailed disclosure on Directors’ fees paid is provided in Exhibit 2 on page 35. The amount due under the STIP is paid in latest in April of the following year. The RTL Group Remuneration Policy, published in 2020 in accordance with the Shareholder Rights Directive II, foresees the possibility to temporarily derogate from the rules in this Remuneration Policy in exceptional circumstances, to serve the company’s long-term interests and sustainability or to assure its viability. 3 R emuneration of the CEO 3.3.2 LTIP and Deputy CEO 3.1 Fixed remuneration (base salary) The base salary for the CEO and the Deputy CEO (the Executive Directors) is within a competitive range of the third quartile base salary for comparable positions in their peer groups. The base salary reflects the individual’s position, scope of responsibility, experience and contribution to the business. Base salary levels are generally reviewed every three years, and their development depends on the individual’s performance and salary level in relation to the external benchmarks. 3.2 Board attendance fees RTL Group does not pay any attendance fees to its Executive Directors. As a result, the CEO and Deputy CEO receive board attendance fees only from other Group entities. RTL Group offers its Executive Directors a long-term incentive plan (LTIP), to reward them for entrepreneurial performance, to retain key executives and to align the interests of management and shareholders. The performance targets of the LTIP have been approved by the NCC and are based on the financial metric EBITA and Adjusted EBITA. RTL Group’s LTIP for the period 2020 to 2022 has the following features: – The metric used in the plan is EBITA for 2020 and 2021, respectively Adjusted EBITA for 2022. – The plan term is three years (N, N+1, N+2). – Performance is measured based on yearly targets, which are defined annually. – The vesting of the LTIP occurs at the end of the term (N+2). – The payment occurs in N+3 (see below). – The reward basis is the annual contractual maximum cash compensation. 3.3 Variable remuneration: annual short-term incentive – The maximum annual amount under the LTIP plan (STIP) and long-term incentive plan (LTIP) 3.3.1 STIP The Executive Directors are eligible for a STIP which is capped at an amount stipulated in their employment contract. The STIP payout is linked to the achievement of three sets of targets, as set out in the Executive Directors’ bonus agreements: – Financial targets; This target is weighted higher than the business and leadership targets. Its calibration (e.g. Adjusted EBITA, invested capital) is defined by the Nomination and Compensation Committee (NCC) on an annual basis. – Business targets; – Leadership targets. equals the reward basis multiplied by one third, multiplied by 1.5, multiplied by the participation rate. – The total maximum amount over the three years of the plan corresponds to the sum of the maximum annual amounts, taking into account the length of participation in the plan. – The actual annual LTIP amount equals the total maximum annual amount multiplied by the achievement rate. The resulting amount is accrued for deferred payment at the end of the LTIP term, subject to the terms and conditions of the plan. The amount due under the LTIP in force for the period 2020 to 2022 is paid after the end of the term, within 90 days from the later of (i) the approval by RTL Group’s shareholders of the

32 RTL Group Annual Report 2022 financial statements of RTL Group for the previous year, (ii) the approval by the Business Unit’s shareholders of the financial statements of the Business Unit for the previous year, and (iii) the payment of the individual yearly bonuses (STIPs), if applicable, related to the previous year. 3.4 Complementary pension plan The pension plan granted to all employees of RTL Group SA is currently a defined benefit plan which also covers death and invalidity risks and is linked to (i) base salary (i.e. fixed salary, all benefits excluded), (ii) years of service, and (iii) legal pension entitlements. The employer accrues the reserves on its balance sheet on a yearly basis. The pension plan granted to all employees of RTL Group GmbH is currently a defined benefit plan, managed by Bertelsmann SE & Co KGaA. Each year, a capital component is set aside and accrued accordingly. The individual pension contribution is calculated by multiplying a basic pension contribution by the personal earnings ratio pursuant to the plan. A specific age factor applies for each age. The actuarial interest rate is reviewed annually on 1 April and adjusted in line with capital market developments. 3.5 Benefits These comprise an accident insurance, which covers both death and disability, a complementary health insurance, and a car allowance to finance a company car at the executive’s discretion. Chief Executive Officer (“CEO”) 3.6 Total amount and proportion of fixed vs variable remuneration Thomas Rabe has a 50 per cent employment contract with RTL Group. The total amount of remuneration earned by Thomas Rabe in his capacity as CEO of RTL Group in the financial year 2022 amounts to € 1.4 million. The fixed remuneration plus benefits represents 42 per cent and the variable remuneration represents 58 per cent of the total remuneration. The total amount received by Thomas Rabe in his capacity as CEO of RTL Group in the financial year 2022 amounts to € 1.5 million. Thomas Rabe does not participate in the LTIP of RTL Group. 3.7 Fixed remuneration (base salary) The amount of fixed remuneration earned and received by Thomas Rabe in his capacity as CEO of RTL Group in 2022 is € 0.6 million. 3.8 Variable remuneration: annual short-term incentive plan (STIP) and long-term incentive plan (LTIP) 3.8.1 STIP The amount of variable remuneration received by Thomas Rabe in his capacity as CEO of RTL Group in 2022 under the STIP 2021 is € 0.9 million. The amount of variable remuneration earned by Thomas Rabe in his capacity as CEO of RTL Group in 2022 under the STIP 2022 is € 0.8 million. This will be paid to Thomas Rabe in March 2023. Remunerations of the CEO and Deputy CEO in 2022 The remuneration received by the executives during the period (i.e. already paid to the executives), and the remuneration earned during the period (i.e. the total amounts to which the executives are entitled under certain conditions for their services rendered during the period, including amounts already received and amounts still to be received) are summarised in Exhibit 1 on page 34. 3.8.2 LTIP Thomas Rabe did not earn any amount in 2022 under the LTIP 2020 to 2022 as he does not participate in the plan. 3.9 Complementary pension plan The CEO does not participate in the RTL Group complementary pension plan. 3.10 Other benefits Other benefits consist in an insurance costing € 208 in 2022.

Remuneration report 33 Chief Operating Officer (“COO”) and “Deputy CEO” of RTL Group 3.11 Total amount and proportion of fixed vs variable 3.14 remuneration The total amount of remuneration earned by Elmar Heggen in 2022 in his capacity as Chief Operating Officer (“COO”) and Deputy CEO and as a member of both the Métropole Télévision Supervisory Board (Groupe M6) and the Atresmedia Board of Directors is € 4.0 million. The fixed remuneration plus benefits represent 31 per cent and the variable remuneration represents 69 per cent of the total remuneration. The total amount of remuneration received by Elmar Heggen in 2022 in his capacity as COO and Deputy CEO and as a member of both the Métropole Télévision Supervisory Board and the Atresmedia Board of Directors is € 3.0 million. 3.12 Fixed remuneration (base salary and fixed allowances) The amount of fixed remuneration earned and received by Elmar Heggen in his capacity as COO and Deputy CEO and as a member of both the Métropole Télévision Supervisory Board and the Atresmedia Board of Directors in 2022 is € 1.2 million. This amount corresponds to (a) € 1.0 million base salary including any board attendance fees, (b) € 173,946 fixed allowance for compensation of pension entitlements lost as a result of the change in the main working location, and (c) € 24,000 housing allowance linked to the change in the main working location. 3.13 Attendance fees at boards of other group entities Elmar Heggen’s contractual annual base remuneration for the year 2022 amounts to € 1.0 million. As stipulated in the employment contract, this includes any board fees paid by other Group entities during the period. Accordingly, at the end of the year the annual base remuneration is reduced by the amount of board fees for the period. In 2022, Elmar Heggen earned and received € 33,925 as a member of the Métropole Télévision Supervisory Board and € 49,000 as a member of the Atresmedia Board of Directors. Variable remuneration: annual short-term incentive plan (STIP), transaction Bonus and long-term incentive plan (LTIP) 3.14.1 STIP The amount of variable remuneration received by Elmar Heggen in 2022 in his capacity as COO and Deputy CEO under the STIP 2021 is € 1.4 million. The amount of variable remuneration earned by Elmar Heggen in his capacity as COO and Deputy CEO in 2022 under the STIP 2022 is € 1.4 million. This will be paid to Elmar Heggen in March 2023. 3.14.2 Transaction Bonus Based on article 6 of the RTL Group Remuneration Policy, in exceptional circumstances, RTL Group may temporarily derogate from the Remuneration Policy in order to serve the long-term interests and sustainability of RTL Group as a whole or to assure its viability. In 2021, RTL Group undertook several important transactions that go beyond RTL Group’s regular course of business. Indeed, these transactions were an integral part of the strategic repositioning of RTL Group, aiming at establishing national media champions, and at reshaping RTL Group’s business portfolio and geographic footprint. In this context, in 2021 the Nomination and Compensation Committee has approved the grant of an exceptional bonus (the "Transaction Bonus") to Elmar Heggen for his significant contribution to structuring, negotiating and signing the following transactions: disposal of BBTV, disposal of SpotX, merger of Groupe M6 with Groupe TF1, merger of RTL Nederland with Talpa, disposal of RTL Belgium and acquisition of Gruner + Jahr (G+J) by RTL Deutschland. The related Transaction Bonus fulfilled the conditions set by the Remuneration Policy, as they aligned the Executive’s interest with the shareholders’ interests and contribute to assuring RTL Group’s long-term viability.

34 RTL Group Annual Report 2022 3.15 Complementary pension plan Elmar Heggen participates in the pension plan of RTL Group GmbH, as described in section 3.4. In addition, Elmar Heggen has a pension entitlement from the defined benefit plan at RTL Group SA as described in section 3.4 linked to previous years of employment. 3.16 Other benefits Other benefits include car allowances amounting to € 19,800 in 2022. Elmar Heggen’s potential maximum payout under such Transaction Bonus amounted to € 2.4 million, of which 30% vested and was payable at signature of the transactions and 70% at closing. Accordingly, € 336,000 was paid in 2022 to Elmar Heggen, in relation to the signature of the transaction for the intended merger of RTL Nederland with Talpa Network, and in relation to the closing of the acquisition of G+J by RTL Deutschland. The residual part of the Transaction Bonus, amounting to € 924,000, hasn’t vested, given that it was subject to the closing of the Groupe M6 and the RTL Nederland transactions, and consequently it will not be paid out. 3.14.3 LTIP Elmar Heggen participated in the RTL Group LTIP 2020 to 2022. The amount of variable remuneration earned by Elmar Heggen in his capacity as COO and Deputy CEO in 2022 under the LTIP 2020 to 2022 is € 1.05 million. The incentive amount earned over the plan’s term will be paid out in the first semester of 2023. Exhibit 1 Earned 2022 Received 2022 Thomas Rabe Elmar Heggen Thomas Rabe Elmar Heggen € per cent € per cent € € 600,000 600,000 831,942 Annual base salary Fixed allowances Director fees earned 2022 Other allowances: – Housing allowance Total fixed remuneration Variable remuneration: – STIP 2021 – STIP 2022 – LTIP 2020 to 2022 annualised* – Transaction Bonus Benefits: – Car allowance / Lease – Complementary Pension / Other benefits Total remuneration *Thomas Rabe does not participate in the LTIP 917,075 173,946 82,925 600,000 917,075 173,946 82,925 24,000 42 1,197,946 31 600,000 24,000 1,197,946 58 1,386,570 1,052,000 336,000 900,000 1,440,000 69 208 1,432,150 19,800 8,625 100 4,000,940 208 1,500,208 100 336,000 19,800 8,625 3,002,370

Remuneration report 35 Exhibit 2 2022 2021 2020 Non-Executive Directors Erenbjerg, Pernille Chairman of the Audit Committee (as of 28 April 2022) Götz, Thomas Member of the Audit and Nomination and Compensation Committee Hermreck, Immanuel Member of the Nomination and Compensation Committee Hellermann, Rolf Member of the Audit Committee de Posch, Guillaume Non-Executive Member of the Board of Directors Singh, James Vice Chairman of the Board of Directors and Chairman of the Audit Commitee (until 27 April 2022) Schiltz, Jean-Louis Vice Chairman of the Board of Directors (as of 28 April 2022) Member of the Audit Committee Taylor, Martin Chairman of the Board of Directors Chairman of the Nomination and Compensation Committee Wulf, Bettina Non-Executive Member of the Board of Directors Zalaznick, Lauren Member of the Nomination and Compensation Committee Former Non-Executive Directors Kundrun, Bernd Non-Executive Member of the Board of Directors (until 28 April 2021) Schmidt-Holtz, Rolf Member of the Nomination and Compensation Committee (until 28 April 2021) Hirsch, Bernd (until 31 December 2020) Member of the Audit Committee Executive Directors1 Rabe, Thomas2 Chief Executive Officer Heggen, Elmar Chief Operating Officer and Deputy CEO Excluding Transaction / Exceptional Bonus Company performance (in € million) Revenue Adjusted EBITA Average remuneration on a full-time equivalent (FTE) basis of employees Wages and salaries RTL Group (in € million) Average FTE (expensed) RTL Group Average wage per FTE € € 151,151 61,151 € – 90,000 90,000 90,000 90,000 90,000 90,000 90,000 90,000 90,000 – 90,000 90,000 64,110 200,000 200,000 151,151 90,000 90,000 400,000 400,000 400,000 90,000 90,000 90,000 45.370 90,000 90,000 – – – 29,096 90,000 29,096 90,000 – 90,000 2,863,884 3,000,416 2,604,416 4,000,940 3,836,725 2,319,131 7,224 1,083 6,637 1,152 6,017 853 1,030 12,975 79,399 929 10,861 85,573 811 10,598 76,524 1 Remuneration earned (Exhibit 1) 2 Thomas Rabe is on a 50 % part-time contract; his remuneration is shown on a full-time basis (100 %)

RTL Group Annual Report 2022 37 Directors’ report Consolidated financial statements and audit report 38 99 100 101 102 103 104 105 181 189 194 195 Directors’ report 43 48 50 55 58 63 67 68 77 84 96 97 98 Corporate profile Market Strategy Capital markets and share Key performance indicators Financial review General management statement on the fiscal year 2022 performance Review by segments Non-financial information Corporate governance Declaration of Conformity with recommendations C.10, D.3, D.9 and D.11 of the German Corporate Governance Code for use by foreign companies Subsequent events Outlook Management responsibility statement Consolidated income statement Consolidated statement of comprehensive income Consolidated statement of financial position Consolidated statement of changes in equity Consolidated cash flow statement Notes to the consolidated financial statements 105 119 122 124 131 136 159 169 170 172 176 177 General information and significant accounting policies Accounting estimates and judgements Segment reporting Group composition Details on consolidated income statement Details on consolidated statement of financial position Financial risk management Commitments and contingencies Cash flow statement Related parties Subsequent events Group undertakings Audit report Glossary Credits Five-year summary

RTL Group Annual Report 2022 38 RTL Group reports strong revenue growth and 5.5 million paying streaming subscribers – Full-year Group revenue up 8.8 per cent to a record – Group profit at € 766 million; the record Group profit level of € 7.2 billion, up 1.6 per cent organically despite decreasing advertising markets in Germany and France of € 1,454 million in 2021 was driven by significant capital gains on disposals, mainly from SpotX – Proposed dividend of € 4.00 per share, in line with the – Full-year Adjusted EBITA in line with outlook guidance Group’s dividend policy at € 1,083 million; Adjusted EBITA margin of 15.0 per cent despite higher streaming start-up losses; Adjusted EBITA before streaming start-up losses stable on prior year’s record level – Paying subscribers for RTL Group’s streaming services in Germany, the Netherlands and Hungary up 44.3 per cent to 5.5 million – Fremantle revenue up 21.9 per cent, streaming – Significant progress on Fremantle growth plan with revenue up 19.7 per cent, TV advertising revenue down 4.4 per cent eight acquisitions and step-ups completed in 2022 – Market consolidation remains strategic priority; RTL Group will focus on alliances, partnerships and smaller consolidation opportunities Luxembourg, 16 March 2023 – RTL Group announces its audited results for the year ended 31 December 2022. Financial review Revenue Adjusted EBITA Adjusted EBITA margin (%) Adjusted EBITA Significant special items Impairment and reversals of investments accounted for using the equity method Impairment of goodwill and amortisation and impairment of fair value adjustments on acquisitions of subsidiaries Impairment and reversals on other financial assets at amortised cost Gain/(loss) from sale of subsidiaries, other investments and re-measurement to fair value of pre-existing interest in acquiree Fair value measurement of investments and re-measurement of earn-out arrangements EBIT Financial result Income tax expense Group profit Attributable to: – RTL Group shareholders – Non-controlling interests Basic and diluted EPS (in € ) 2022 € m 7,224 1,083 15.0 1,083 (44) (5) (46) (30) 107 (78) 987 (55) (166) 766 673 93 4.35 2021 € m 6,637 1,152 17.4 1,152 (61) 2 (19) - 949 (115) 1,908 (27) (427) 1,454 1,301 153 8.41 Per cent change +8.8 (6.0) (6.0) (48.3) (47.3) (48.3) (48.3)

Directors’ report Strong revenue growth, Adjusted EBITA in line with outlook guidance despite challenging macroeconomic conditions and higher streaming start-up losses – Group revenue increased 8.8 per cent to € 7,224 million (2021: € 6,637 million), mainly thanks to strong growth of Fremantle, RTL Deutschland (from the acquisitions of Gruner + Jahr in 2022 and Super RTL in 2021) and RTL Nederland. Group revenue was up 1.6 per cent organically1 compared to 2021, driven by Fremantle and RTL Nederland. – In 2022, RTL Deutschland and RTL Nederland reported higher audience shares and increased their audience lead over their main commercial competitors. – TV advertising revenue across the Group was down 4.4 per cent year-on-year, due to the challenging macroeconomic environment. – Streaming revenue2 from RTL+ and Videoland grew by 19.7 per cent to € 267 million (2021: € 223 million), thanks to the rapidly growing number of paying subscribers. – Distribution revenue3 was stable at € 438 million (2021: € 437 million). – Adjusted EBITA4 was down by 6.0 per cent to € 1,083 million (2021: € 1,152 million), due to RTL Deutschland (with higher streaming start-up losses and lower TV advertising revenue), the scope exit of RTL Belgium, and Groupe M6. These effects were partly offset by record Adjusted EBITA contributions from RTL Nederland and Fremantle. The Adjusted EBITA margin4 decreased to 15.0 per cent (2021: 17.4 per cent) as streaming start-up losses4 increased to € 233 million (2021: € 166 million). – Group profit was € 766 million (2021: € 1,454 million). 2021 was positively impacted by capital gains of € 717 million from the sale of SpotX. – Net cash from operating activities was € 463 million. The operating cash conversion rate5 was 54 per cent (2021: 114 per cent), impacted by investments in Fremantle and streaming. RTL Group had net cash6 of € 180 million at the end of 2022 (end of 2021: € 657 million). – For RTL Group’s Annual General Meeting on 26 April 2023, RTL Group’s Board of Directors has proposed a dividend of € 4.00 per share for 2022, of which € 3.50 represents an ordinary dividend, while the remaining € 0.50 relates to the disposals of RTL Belgium and RTL Croatia (cash proceeds only). The ex-dividend date of the dividend payment would be 27 April 2023 and the payment date 2 May 2023. – Based on the average share price in 2022 (€42.047), the proposed dividend of €4.00 per share represents a dividend yield of 9.5 per cent. Strengthening RTL Group’s core On 1 January 2022, RTL Deutschland fully acquired Gruner + Jahr’s (G+J) German publishing assets and brands for the final purchase price of € 228 million.8 In February 2023, RTL Deutschland announced a reorganisation of its publishing business to focus on its core brands Stern, Geo, Capital, Stern Crime, Brigitte, Gala, Schöner Wohnen, Häuser, Couch, Eltern, Chefkoch, Geolino and Geolino Mini. Other brands will be sold or discontinued. RTL Deutschland will invest € 80 million in its publishing business by 2025, € 30 million thereof in the expansion of the paid offer Stern+. The potential synergies of the transaction (Adjusted EBITA run-rate impact) are estimated at around € 75 million per year, to be fully realised by 2025 (previous guidance before reorganisation: € 100 million per year). On 31 March 2022, RTL Group closed the sale of RTL Belgium to the Belgian media companies DPG Media and Groupe Rossel, which resulted in net cash inflows of € 154 million. On 1 June 2022, RTL Group completed the sale of RTL Croatia to Central European Media Enterprises (CME) for € 41 million net of cash disposed. RTL Group continues to invest significantly in content across all genres. Investments in rights for live sports events strengthen its linear TV channels and play an important role in gaining new subscribers for its streaming services by attracting male audiences and enhancing news and magazine formats. – In May 2022, RTL Deutschland announced an extensive deal with Uefa to broadcast half of all football matches of the German national team in the Uefa Nations League until 2028, and the European Qualifiers for both the Fifa World Cup 2026 and Uefa Euro 2028. – In September 2022, RTL Deutschland acquired the rights to broadcast live the US National Football League (NFL) games, including the Super Bowl, starting in September 2023. 39 1 Adjusted for portfolio changes and at constant exchange rates. Further details can be found in Key performance indicators on page 58 2 Streaming revenue includes SVOD, TVOD, in-stream and distribution revenue from RTL+ in Germany, RTL+ in Hungary (including RTL+/ RTL+ Active/ RTL+ Light) and Videoland/ RTL XL in the Netherlands 3 Revenue generated across all distribution platforms (cable, satellite, internet TV) including subscription and re-transmission fees 4 See Key performance indicators on page 59 5 Operating cash conversion rate reflects the level of operating profits converted into cash. Further details can be found in Key performance indicators on page 60 6 Net cash/(debt) excludes current and non-current lease liabilities. Including these, net debt as of 31 December 2022 was € -205 million (31 December 2021: net cash of € 325 million). See Key performance indicators on page 61 7 Frankfurt Stock Exchange 8 € 210 million was already paid in 2021. The following Gruner + Jahr assets are not part of the transaction and will remain with Bertelsmann: DDV Mediengruppe (Sächsische Zeitung), Territory, AppLike Group and G+J’s 25 per cent shareholding in Spiegel Gruppe; on 1 April 2022 RTL Deutschland also fully acquired 50 per cent of Deutsche Medien- Manufaktur (DMM)

40 RTL Group Annual Report 2022 – In 2022, Groupe M6 acquired for the first time the free-TV rights of the Uefa Champions League finals in 2025, 2026 and 2027 and the channel shares free-TV rights for 25 matches of the Uefa Euro 2024 with TF1. M6 will also exclusively broadcast 18 matches of the 2023 Rugby World Cup in France. – In March 2023, RTL Deutschland announced the renewal of the full broadcasting rights of the Uefa Europa League and Uefa Europa Conference League for the seasons 2024/25 to 2026/27. The matches will be shown on its linear channels RTL and Nitro as well as its streaming service RTL+. Next to local, exclusive content and sports rights, RTL Group invests in internationally popular TV and film formats: – In February 2022, RTL Group announced that RTL Deutschland signed an exclusive agreement for an extensive, multi-year programme volume deal with the US production company Warner Bros. Entertainment. Starting from Q1/2022, RTL Deutschland receives access to exclusive films and series, including HBO Max originals. RTL Deutschland will also receive exclusive free-TV rights to future feature films and access to Warner Bros.’ vast library of high-quality series and feature films across all genres. – In April 2022, RTL Deutschland expanded its licensing agreement with Paramount Global Content Distribution to acquire an attractive programme package for the streaming service RTL+ and its free-TV channels, including German premieres and highlights from Paramount’s library. Boosting growth businesses – Streaming At the end of 2022, RTL Group registered 5.488 million paying subscribers for its streaming services RTL+ in Germany and Hungary, and Videoland in the Netherlands, up 44.3 per cent year-on-year (31 December 2021: 3.804 million). – The number of paying subscribers for the German streaming service RTL+ increased by 48.1 per cent to 4.016 million, compared to 2.712 million at the end of December 2021. The strategic partnership with Deutsche Telekom to bundle RTL+ Premium in Magenta TV, reality TV formats, football matches of the Uefa Europa League and the growing number of original formats such as Sisi, Der König von Palma and the Bushido documentary contributed significantly to this growth, with 62 new originals available in 2022 (2021: 67). RTL Deutschland is gradually expanding its cross- media offer. In August 2022, it launched the RTL+ Musik app. In addition to video content, this gives RTL+ users access to more than 90 million songs and more than 100 radio streams. RTL+ entered an exclusive partnership with Deezer, one of the world’s leading music streaming services. In November 2022, podcasts were added to the RTL+ Musik app, followed by a growing selection of audiobooks in December 2022. – Paying subscriber numbers for the Dutch streaming service Videoland grew 11.8 per cent to 1.221 million compared to 1.092 million at the end of December 2021, largely thanks to exclusive content such as the original series Sleepers and Mocro Maffia, the documentary about the Dutch singer André Hazes, the fifth season of the US series The Handmaid’s Tale and the Dutch kickboxing live events of the Glory series, all of which are exclusive to Videoland in the Netherlands. – The number of paying subscribers for the Hungarian streaming service RTL+ (including RTL+ Active) was 0.251 million at the end of December 2022. The successful launch of RTL+ was especially supported by the exclusive series A Király (The King), as well as daily series and reality formats such as ValóVilág powered by Big Brother. In November 2022, RTL Hungary launched its streaming service RTL+. Offering exclusive local content, the new service – which is based on the technology of Bedrock, RTL Group’s streaming tech company – is a unique feature in the Hungarian streaming landscape. The previous services, RTL Most and RTL Most+, were integrated into RTL+ under the packages RTL+ Light and RTL+ Active. Therefore, RTL+ has three models: a direct-to- consumer subscription model without advertising, a TV subscription model (for example via an IPTV subscription), and a registration-based advertising- funded model.

Directors’ report 41 Boosting growth businesses – Fremantle Fremantle, RTL Group’s global content business, targets full-year revenue of € 3 billion by 2025. To reach this goal and keep up with the increasing demand for content, RTL Group is investing significantly in Fremantle in all territories, across all three content pillars – drama and film, entertainment and documentaries. Within its entertainment business, Fremantle scored successes with America’s Got Talent, the quiz show Password and various adaptations of Farmer Wants a Wife. Within drama and film, the delivery of the second season of The Mosquito Coast to Apple TV+ was a huge success while Fremantle’s film business continued to grow, with 17 films delivered in 2022 (2021: seven). In March 2022, Fremantle signed a three-year international filmmaking agreement with Oscar-winning actress Angelina Jolie. In February 2023, Fremantle signed a two-year partnership with Edward Berger, the director of All Quiet on the Western Front. Within its documentary business, Fremantle successfully launched the documentary Planet Sex with Cara Delevingne. In 2022, Fremantle completed eight transactions: In March 2022, Fremantle acquired 70 per cent of the shareholding in the leading Italian independent television production company Lux Vide. Successful series from the production company include Medici for Netflix, Leonardo for Amazon Prime, Devils for Sky, The Bible Collection – sold in 144 countries, Don Matteo – now in its 13th season and DOC – the medical drama that’s rapidly becoming Rai’s highest-rated series in 15 years. In the same month, Fremantle acquired a 25 per cent stake in Fabel Entertainment, known for the series Bosch. In April 2022, Fremantle increased its stake in Dancing Ledge Productions from 25 per cent to 61 per cent. The UK-based production company is behind drama series such as The Responder and The Salisbury Poisonings. In May 2022, Fremantle acquired 51 per cent of Element Pictures, the production company behind Academy Award, Golden Globe and BAFTA-winning films The Favourite and Room, the global drama Normal People, and the mini-series Conversations With Friends. In June 2022, Fremantle increased its ownership in the US/Australian production company Eureka to 100 per cent, having already acquired a majority stake in 2021. In November 2022, Fremantle acquired a 55 per cent stake in 72 Films, the TV production company behind the sports documentary All or Nothing: Arsenal and 9/11: One Day in America. In the same month, Fremantle acquired a 51 per cent stake in Wildstar Films, a production company focused on natural history documentaries and responsible for successful films and series such as America the Beautiful and Epic Adventures with Bertie Gregory. This was followed by the acquisition of a 51 per cent stake in Silvio Productions, a production company behind documentary series such as Shadow of Truth. Fostering alliances and partnerships In February 2022, RTL Group announced its decision to combine its fully owned businesses RTL AdConnect, G+J iMS and the media division of Smartclip to create an international advertising sales champion called RTL Ad Alliance. RTL Ad Alliance will provide international advertisers with simplified access to a unique portfolio of media brands across TV, digital video, radio/audio, online, mobile and print. In May 2022, RTL Group’s European ad-tech business, Smartclip9, fully acquired the French ad-tech company Realytics. The acquisition complements RTL Group’s ad-tech stack: Realytics systematically analyses the impact of TV advertising on advertiser websites and ensures data availability for digital ad decisioning. In November 2022, Bedrock successfully migrated more than one million subscribers of Videoland to a more advanced version of the service with more features, stronger personalisation, better data management and editorial tools. This represented the largest streaming migration in Europe to date. 9 Smartclip is part of RTL Deutschland

RTL Group Annual Report 2022 42 Outlook The geopolitical and macroeconomic environment remains volatile and the impact on RTL Group’s businesses is hard to predict. Consequently, the Group expects its Adjusted EBITA before streaming start-up losses to be between € 1.2 and € 1.25 billion (2022: € 1,316 million). On this basis and subject to the above: – RTL Group’s dividend policy remains unchanged: – RTL Group expects its revenue to increase to between € 7.3 and € 7.4 billion. – RTL Group expects its Adjusted EBITA for 2023 to be between € 1.0 and € 1.05 billion. Streaming start-up losses are expected at just below € 200 million (2022: € 233 million). Revenue Adjusted EBITA Streaming start-up losses Adjusted EBITA before streaming start-up losses RTL Group plans to pay out at least 80 per cent of the adjusted full-year net result, resulting in an ordinary dividend paid in 2024 and 2025 (for the financial years 2023 and 2024) of approximately € 3.50 per share, based on current projections. 2022 2023e € 7,224m € 7.3bn to € 7.4bn € 1,083m € 1.0bn to € 1.05bn € 233m € 1,316m Just below € 0.2bn € 1.2bn to € 1.25bn Strategic targets for RTL Group’s streaming services10 2022 5.5m € 267m € 304m 2026e 10m € 1bn ~€ 600m Paying subscribers Streaming revenue Content spend per annum Profitability is expected by 202611. Fremantle: revenue target Fremantle targets full-year revenue of € 3 billion by 2025. To reach this goal and keep up with the increasing demand for content, RTL Group will invest significantly in Fremantle – both organically and via acquisitions – in all territories across drama and film, entertainment and factual shows and documentaries. 10 RTL+ in Germany and Hungary and Videoland in the Netherlands 11 Total of Adjusted EBITA from RTL+, Videoland/ RTL XL, Salto and Bedrock as consolidated on RTL Group level. The Adjusted EBITA of RTL+ in Germany and Hungary and Videoland/ RTL XL in the Netherlands includes synergies with TV channels at business unit level. For the definition of Adjusted EBITA please see Key performance indicators on pages 58 to 59

Directors’ report 43 Corporate profile About RTL Group RTL Group is a leading entertainment company across broadcast, streaming, content and digital, with interests in 56 television channels, nine streaming services and 36 radio stations. The Group’s families of TV channels are either number one or number two in six European countries, while RTL Group owns, or has interests in, radio stations in France, Germany, Spain and Luxembourg. RTL Deutschland is the Group’s largest business unit and Germany’s first cross- media champion, operating across TV, streaming, radio, and digital publishing. RTL Group’s streaming services include RTL+ in Germany and Hungary, Videoland in the Netherlands and 6play in France. Fremantle is one of the world’s largest creators, producers and distributors of scripted and unscripted content, and is responsible for around 12,000 hours of programming per year, alongside an international network of teams operating in 27 countries. The streaming tech company, Bedrock, and the ad-tech company, Smartclip, are also owned by RTL Group. As a market leader, RTL Group strives to foster alliances and partnerships within the European media industry – for example, by building one-stop advertising sales houses in Germany and the Netherlands with Ad Alliance, and driving international advertising sales with RTL Ad Alliance. RTL Group corporate structure as at 31 December 2022 (simplified) The roots of the company date back to 1924, when Radio Luxembourg first went on air. Compagnie Luxembourgeoise de Radiodiffusion (CLR) was founded in 1931. As a European pioneer, the company broadcast a unique programme in several languages using the same wavelength. RTL Group itself was created in spring 2000, following the merger of Luxembourg-based CLT-UFA and the British content production company Pearson TV, owned by Pearson Plc. CLT-UFA was created in 1997 when the shareholders of UFA (Bertelsmann) and the historic Compagnie Luxembourgeoise de Télédiffusion – CLT (Audiofina) merged their TV, radio and production businesses. Bertelsmann has been the majority shareholder of RTL Group since July 2001. RTL Group’s shares (ISIN: LU0061462528) are publicly traded on the regulated market (Prime Standard) of the Frankfurt and Luxembourg Stock Exchanges. RTL Group is listed in the MDAX stock index. RTL Group publishes its consolidated financial statements in accordance with IFRS as adopted by the European Union. RTL Deutschland 100 %12 Groupe M613 48.3 %12 Fremantle 100 %12 RTL Nederland 100 %12 Other segments RTL Hungary 100 %12 RTL Luxembourg 100 %12 Atresmedia15 18.7 %14 We Are Era 100 %12 12 Fully consolidated 13 Net of treasury shares and own shares held by Métropole Télévision SA under liquidity contract 14 Investment accounted for using the equity method 15 Net of treasury shares

44 RTL Group Annual Report 2022 Management approach The Group’s business units are run by management teams with entrepreneurial freedom and editorial independence. This enables each unit to act flexibly in its market, to build its own local identity, and to benefit from one of the most important success factors in the media business: proximity to its audience. Responsibility for the day-to-day management of the company rests with the CEO, who – on a regular basis and upon request of the Board – informs the Board of Directors about the status and development of the company. The Executive Committee is comprised of the CEO, the COO/Deputy CEO and the CFO. The Executive Committee is vested with internal management authority. In the Operations Management Committee (OMC), the Executive Committee meets with CEOs of the Group’s units to share information, discuss opportunities and challenges, and foster cooperation. RTL Group has strengthened cross-border collaboration in the areas of streaming technology (led by Bedrock); advertising technology (led by Smartclip); international advertising sales (led by RTL Ad Alliance), content creation, sourcing and distribution. In addition, all units benefit from sharing information, knowledge and experience across the Group through the Group’s Synergy Committees (SyCos). These SyCos – which are comprised of executives and experts from each segment and from the Group’s Corporate Centre – meet regularly to discuss topics such as programming, advertising sales, streaming and tech and data. While each unit makes its own decisions, it is encouraged to draw on the understanding and expertise of other RTL Group companies. The Corporate Centre provides strategic direction and financial controls, while managing the Group’s portfolio of holdings.

Directors’ report 45 Business model RTL Group’s business model is to produce, aggregate, distribute and monetise the most attractive video content, across all formats and platforms. Broadcast Content procurement and production Aggregation Distribution and monetisation Audience Content Reach Advertising revenue TV channels and streaming Distribution revenue Commercials Technical access to content Generic broadcast value chain RTL Group’s broadcasters buy, produce and commission mostly local content. They also buy or license broadcasting rights for movies, TV series and sporting events. TV channels and radio stations create and schedule programming that helps them shape their channel brands. Rather than focusing on a single genre, RTL Group’s flagship channels create a general interest programming mix across all genres, including drama, factual entertainment, news, talk, soaps, reality and sport. In today’s fragmented marketplace, it’s crucial for broadcasters to offer content that makes them stand out. Advertising is the primary source of revenue for RTL Group’s broadcasters, and they offer their advertising clients a range of ad formats, from the traditional 30-second commercial to tailored packages of TV and digital ads to addressable TV advertising. RTL Group’s advertising sales houses sell spots in the channels’ linear and non-linear programming and increasingly sell cross-media. The price advertisers pay generally depends on the reach and demographic structure of the audience they target. Higher audience shares and more sought- after target groups lead to higher spot prices, generally priced at CPM (cost per mille). RTL Group broadcasters distribute their content via all platforms, such as cable, satellite, terrestrial broadcasting and internet TV. In exchange for the broadcasting signal in high definition (HDTV) or additional services – such as the RTL Group broadcasters’ pay-TV channels or streaming services – they receive fees from the platform operators. RTL Group reports this figure separately as distribution revenue. Between 2012 and 2022, this high-margin revenue rose from € 175 million to € 438 million.

46 RTL Group Annual Report 2022 Streaming RTL Group’s broadcasters have established their own streaming services, which make their programmes available on all devices at all times, and which are financed by subscription fees, advertising and distribution. These broadcasters continue to increase their production volume of original content for their streaming services. The aim is to combine the different streaming offerings into a hybrid business model, consisting of various price packages. Lower-priced or free packages are predominantly or fully financed by advertising. The various premium price packages include, for example, several parallel streams on various devices, the live signal of RTL TV channels in HD quality, and premium content bundles, that offer the programmes of the Group’s linear TV channels in the respective countries, plus premium content either exclusively produced or licensed from third parties. RTL Deutschland is gradually expanding RTL+ into a cross-media offer and launched the RTL+ Musik app in August 2022. In addition to video content, RTL+ users have access to more than 90 million songs, more than 100 radio streams, podcasts, and a growing selection of audiobooks. Content procurement and production Aggregation and distribution Monetisation Subscription revenue Consumer Distribution revenue Advertising revenue Content Streaming value chain Content RTL Group’s broadcasters produce and commission a wide variety of local content, while the Group’s global production arm, Fremantle, is responsible for around 12,000 hours of programming per year. Concept creation Pre-production16 Production Post-production International distribution IP creation Script Character design Story IP development Funding Scheduling Integration of process Attach key cast Storyboard Shooting Screenplay Storyboard Cut VFX Sound Music DRM Tape sales Rights management Commercial exploitation Ancillary exploitation Content production value chain As one of the world’s largest creators, producers and distributors of content, Fremantle operates differently to RTL Group’s broadcasters. The company produces, licenses and distributes a vast array of programmes that range from high-end drama and documentaries through game shows and daily drama to reality TV formats. As a production company, Fremantle provides broadcasters and streaming services with content that they can use to build their businesses. Fremantle has an international network of teams across production and distribution, operating in 27 countries. Fremantle’s international distribution business sells finished programmes and formats around the world, and acquires, develops, finances and co-produces new titles for the international market. Its catalogue contains a diverse range of programming across drama, film, documentaries and entertainment. 16 Pre-production only starts once the idea is sold to a commissioning client network

Directors’ report 47 The distribution business also plays an important role in providing financing for high-quality drama such as Reyka, The Mosquito Coast and The Responder. 20 years. The development cycle of high-end drama series – from concept to screening – ranges from two to three years. Supported by a sales network that spans ten international offices and five continents, Fremantle distributes content in over 180 territories worldwide. The business model of drama series, films and documentaries is based on creating long-term library value. Ideally, these series will entertain viewers and thereby generate revenue and profits for between five and The fact that both the timing of the delivery of a finished programme and the initial transmission date are often decided by the broadcaster or streaming service can ultimately affect revenue recognition at Group level. Phasing or timing effects can swing significantly from one quarter to another but are often balanced over the course of the year. Digital Advertising technology While linear television remains the only medium to reach mass audiences daily, digital video advertising lets advertisers deliver their message to an engaged audience, which can be enhanced using technology and data. This is done using a sophisticated method that automates the advertising sales process: within milliseconds an ad space on a website or streaming service can be sold to advertisers looking for a particular demographic and willing to pay a price within a given range. In brief, advertising technology fulfils two main goals: a) to find the perfect match between advertiser and user and, b) to find the perfect price for both advertiser and publisher. The main difference to traditional advertising sales is the targeting of individual users instead of a broad reach. Addressable TV advertising aims to combine the advantages of traditional TV advertising – such as high reach and brand safety – with the targeting solutions of digital advertising. DSP SSP AdServer SSAI Planning tools Advertiser Agency/ Trading desk Saleshouse Content RTL Group ad-tech universe

48 RTL Group Annual Report 2022 Market Market environment Digitisation has significantly transformed the TV market. More than 99 per cent of European households now receive their TV signal digitally and, in Germany alone, viewers have access to over 80 linear television channels. in TV viewing behaviour. Now that media convergence has become a technical reality, the media industry can see noticeable shifts in audience reach, advertising, distribution and platform business. Digitisation has brought new ways of reaching viewers – such as short-form video content made for consumption on mobile devices and streaming services – which complement conventional modes of TV distribution such as terrestrial television, cable and satellite (free-to-air and pay-TV). Broadcasters such as RTL Group have welcomed the opportunity to distribute their programmes on both a linear (scheduled) and non-linear (on demand – anywhere, any time and on any device) basis. The video market comprises: – Linear TV (commercial free-to-air channels, pay-TV channels, public broadcasters and linear TV channels delivered ‘over-the-top’) – Streaming services financed by subscriptions, advertising, distribution revenue or pay-per-view (especially long-form) – YouTube, Facebook, TikTok and other online video platforms (especially short-form) With these extensive changes in the technical infrastructure of content distribution, the rise in viewing consumption through new devices (smartphones, tablets, connected TVs) has led to far-reaching changes Market trends Against the backdrop of ongoing digitisation, RTL Group’s markets are currently shaped by two key trends: competition and consolidation. While linear TV is still the way most viewers consume video content, non-linear viewing or streaming is growing fast, and displaying the following trends: – The younger the target group, the higher the share of non-linear viewing – The younger the target group, the higher the share of viewing on mobile devices – Linear viewing time in young target groups significantly decreased after 2020 (Covid-19-effect) – Streaming services have begun to attract older target groups – Watching video content on mobile devices increases the demand for short-form video (short clips that last just a few minutes) – There is a high demand for high-end drama series, films and documentaries on streaming platforms – Films are increasingly produced for streaming services and broadcasters, cinemas decrease in relevance

Directors’ report 49 Consolidation In the past ten years, some media groups have been folded into vertically integrated conglomerates that control both the production and distribution of content. For example, Comcast bought NBCUniversal. The world’s largest media company, Disney, expanded horizontally rather than vertically, with its $ 71 billion acquisition of 21st Century Fox, Pixar (animation studio), Lucasfilm (Star Wars) and Marvel Entertainment (Marvel Comics). US telecommunications company AT&T bought DirecTV, a satellite firm, and Time Warner, owner of HBO and the Warner Bros. studio. AT&T split off WarnerMedia and combined it with Discovery in April 2022 – now called Warner Bros. Discovery. US media companies, CBS Corporation and Viacom, formed ViacomCBS (called Paramount Global since February 2022). This period of consolidation created a handful of content giants with huge back catalogues, ready to spend heavily on old shows and new programming. The production business shows a similar consolidation trend as demand for talent – including authors, scriptwriters and showrunners – increases. Thus, large production businesses merge with, or increasingly acquire, smaller production companies. An international example is the French TV production firm, Banijay, which acquired Endemol Shine from Disney and Apollo Global Management, creating a global production giant that represents the largest TV producer outside the US. Fremantle has invested heavily in a high number of smaller production companies to accelerate its growth in scripted series, films and documentaries – including Miso Film, This is Nice Group, Wildside, Lux Vide, Kwaï, Abot Hameiri, Dancing Ledge Productions, Fabel, 72 Films, Wildstar Films, Passenger, Silvio Productions, Eureka and Element Pictures. Competition Traditional media companies, particularly in the United States, are spending tens of billions of dollars in the battle with global tech platforms such as Netflix, Amazon and YouTube (Google). In what became known as the ‘streaming wars’, in a short space of time, Disney, Apple, Warner Bros. Discovery, Paramount Global (formerly ViacomCBS) and Comcast/NBCUniversal all launched new streaming services. Subscriptions for libraries of films and shows, along with other services, cost up to € 18 a month in Germany, for example. In addition to the subscription fees, streaming services such as Netflix, Disney+ and Amazon (via Freevee) introduced ad- supported price tiers to their services in 2022. Streaming services also offer more and more free ad-supported streaming TV (FAST) channels. In contrast to ad- supported video-on-demand (AVOD), FAST channels offer live TV – like a linear TV channel – digitally via IPTV which increases competition, however, also offers opportunities for content production companies such as Fremantle. As a result, the production business around the world is thriving, especially for high-end drama series, causing rapidly rising prices for the best content and talent: – According to data from research firm, Ampere Analysis, media companies spent $ 238 billion on video content in 2022 – twice as much as ten years ago. However, this trend is expected to slow down according to an Ampere Analysis report published in January 2023. Overall spending growth on original content is expected to decrease from 6 per cent in 2022 to 2 per cent in 2023 and there is a shift in content commissioning to incorporate a greater volume of cheaper, unscripted formats. – Content production prices increased rapidly. According to The Economist, the final season of Warner Bros. Discovery Game of Thrones cost $ 15 million per episode in 2019, while the first season of the new series Lord of the Rings for Amazon Prime, which launched in 2022, is estimated to have cost $ 465 million for eight episodes. – More and more key players – such as Disney, Paramount Global and Warner Bros. Discovery – are holding back valuable IP and content to boost the growth of their own streaming services. However, first trends show that those players are beginning to licence more content again.

50 Strategy RTL Group Annual Report 2022 The international media industry is experiencing a major transformation, with huge opportunities for those who are prepared to shape the future. To successfully transform RTL Group’s business, two factors are particularly important. One is higher reach – combining linear and non-linear – which requires investments in content, marketing and a state-of-the-art streaming platform. The second is better monetisation of audience reach – via targeting and personalisation or recommendation – which requires investments in advertising technology and data. RTL Group’s Board of Directors and Executive Committee have defined a strategy that builds upon three priorities: 1 Strengthening the Group’s core businesses. 2 Expanding RTL Group’s growth businesses, in particular in the areas of streaming, content production and technology. 3 Fostering alliances and partnerships in the European media industry. Core Strengthening RTL Group’s families of channels Wherever attractive opportunities arise, the Group aims to consolidate across its existing European broadcasting footprint – including through mergers and acquisitions – to create strong families of channels. The strategic rationale is about scale, pooling resources and creativity to compete with global tech platforms in the respective national markets. Instead of larger consolidation moves it requires higher investments in exclusive, local content to boost the growth of RTL Group’s streaming services. It requires strengthening the Group’s national and international ad sales businesses with its multi-client business as well as fostering distribution partnerships. And it requires investments in tech and data, streaming technology and addressable TV advertising. In France, Groupe Bouygues, RTL Group, Groupe TF1, and Groupe M6 decided to abandon their plan to merge Groupe TF1 and Groupe M6 in September 2022, due to far-reaching demands from the French competition authority. In the Netherlands, the merger process of RTL Nederland and Talpa Network was stopped in January 2023, since the Dutch competition authority informed both parties that it will not approve the proposed merger. The parties regret that the authorities did not take into account the speed and extent of the changes in the French and Dutch media landscapes and the impact of these changes on local media companies. In July 2021, RTL Deutschland acquired the outstanding 50 per cent of the shares in Super RTL from its previous joint venture partner, The Walt Disney Company. RTL Group’s shareholding in Super RTL is now 100 per cent. In January 2022, RTL Deutschland fully acquired Gruner + Jahr’s (G+J) German publishing assets and brands from Bertelsmann17. As of 1 January 2022, G+J contributes popular and trusted brands such as Stern and Geo to RTL Deutschland. The combination further strengthens RTL Deutschland’s position as partner of choice for Germany’s creative talent and will boost the growth of its streaming service RTL+, with investments in local content, positive entertainment and independent journalism, as well as technology and data. In February 2023, RTL Deutschland announced a reorganisation of its publishing business to focus on its core brands Stern, Geo, Capital, Stern Crime, Brigitte, Gala, Schöner Wohnen, Häuser, Couch, Eltern, Chefkoch, Geolino and Geolino Mini. Other brands will be sold or discontinued. RTL Deutschland will invest € 80 million in its publishing business by 2025, € 30 million thereof in the expansion of the paid offer Stern+ with complementary content from Stern, Geo, Capital and Stern Crime. The potential synergies of the transaction (Adjusted EBITA run-rate impact) are estimated at around € 75 million per year, to be fully realised by 2025. At the end of March 2022, RTL Group closed the sale of RTL Belgium to the Belgian media companies DPG Media and Groupe Rossel. In June 2022, RTL Group confirmed the close of the transaction to sell RTL Croatia to Central European Media Enterprises (CME). Building and extending families of TV channels has been key to addressing increasing audience fragmentation and competition in a digital, multi-channel world, with the overall goal of maintaining or growing RTL Group’s audience shares and net TV advertising market shares in the various countries. In past years, RTL Group’s families of channels have been extended by digital channels, including Nitro, RTL Up, Vox Up, 6ter, and RTL Z. Another focus for strengthening the Group’s core business in broadcasting is to increase non-advertising revenue, by further growing the revenue from platform operators (distribution revenue) and intensifying distribution partnerships. RTL Group aims to receive a fair remuneration for its brands and programmes from the major distribution platforms – cable network operators, satellite companies and internet TV providers – for services such as high-definition TV channels, streaming platforms and digital pay channels. 17 € 210 million was already paid in 2021. The following Gruner + Jahr assets are not part of the transaction and will remain with Bertelsmann: DDV Mediengruppe (Sächsische Zeitung), Territory, AppLike Group and G+J’s 25 per cent shareholding in Spiegel Gruppe; on 1 April 2022 RTL Deutschland also fully acquired 50 per cent of Deutsche Medien- Manufaktur (DMM)

Directors’ report 51 Investing in content In 2022, RTL Group spent around € 4 billion on content, combining the programming spend of its broadcasters and the productions of its global content business, Fremantle. Exploring all possible ways to develop and own new hit formats while continuing to grow the Group’s investments in premium content is key to strengthening RTL Group’s core businesses. Investment in local, exclusive content – including the rights for live sports events – strengthens both RTL Group’s linear TV channels, streaming services and its news and magazine formats. The following deals strengthen the Group’s linear channels, helping to attract male audiences, and playing an important part in gaining new paying subscribers for RTL+ in Germany and Videoland in the Netherlands. RTL Deutschland is home of the Uefa Europa League and Europa Conference League. In March 2023, it announced the renewal of the broadcasting rights for the seasons 2024/25 to 2026/27 and it additionally sub-licences the exclusive rights to 17 Uefa Euro 2024 matches from Deutsche Telekom. In addition, RTL Deutschland broadcasts half of all football matches of the German national team in the Uefa Nations League until 2028, and the European Qualifiers for both the Fifa World Cup 2026 and Uefa Euro 2028. In 2022, RTL Deutschland acquired the rights to broadcast all National Football League (NFL) matches including the Super Bowl until 2028 – starting from the 2023/24 season. RTL Nederland acquired the rights to broadcast certain Uefa Champions League matches, starting with the 2021/22 season, for a period of three years. This is complemented by other sports rights such as the Dakar motor sports series until 2027 and the Glory kickboxing fights until 2024. Groupe M6 holds the rights to the Uefa Europa League and Europa Conference League for the 2022/23 and 2023/24 seasons, and is the official broadcaster of the French national team. In 2022, Groupe M6 acquired for the first time the free-TV rights of the Uefa Champions League finals in 2025, 2026 and 2027. The channel shares free-TV rights for 25 matches of the Uefa Euro 2024 with TF1 and will also exclusively broadcast 18 matches of the 2023 Rugby World Cup in France. Managing the portfolio RTL Group’s management continuously reviews the Group’s portfolio. In the past five years, RTL Group sold several non-core assets in Europe such as the football club Girondins de Bordeaux and the website MonAlbumPhoto in France, the home entertainment and theatrical distribution company Universum Film in Germany, the Vancouver-based digital video network BroadbandTV (BBTV), the US ad-tech company SpotX, the US-based mobile entertainment company Ludia and the US software and data company for media measurement, VideoAmp. These disposals are consistent with RTL Group’s strategy to focus on growing its European digital businesses in the areas of streaming and advertising technology, alongside the Group’s global content business, Fremantle.

52 RTL Group Annual Report 2022 In March 2021, RTL Deutschland and Sky Deutschland announced an agreement for closer collaboration in the areas of streaming and content. RTL+ Premium has been available for an additional premium on the Sky Q platform since June 2021. In August 2021, RTL Deutschland also expanded its partnership with Vodafone in the areas of programme offerings, streaming and addressable TV advertising. Groupe M6’s streaming service 6play is the ad-funded streaming service in France with 24.5 million active users. In October 2022, Groupe M6 launched 6play Max, a paid subscription video-on-demand version of 6play, developed by Bedrock. Within this subscription users can watch the available content without advertising, in full HD and including download features. In November 2022, RTL Hungary launched its streaming service RTL+. The new service offers exclusive local content, which is a unique feature on the streaming landscape in Hungary, and is also based on the technology of Bedrock, RTL Group’s streaming tech company. The previous services, RTL Most and RTL Most+, were integrated into RTL+ under the subscription packages RTL+ Light and RTL+ Active. Therefore, RTL+ has three models: a paid model without advertising, a TV subscription model, and a registration- based advertising-funded model. Expanding RTL Group’s global content business, Fremantle RTL Group’s content business, Fremantle, is one of the world’s largest creators, producers and distributors of scripted and unscripted content. Fremantle has an international network of teams across production and distribution, operating in 27 countries, being responsible for around 12,000 hours of programming per year, and distributing content worldwide. Fremantle targets full-year revenue of € 3 billion by 2025. To reach this goal and keep up with the increasing demand for content, RTL Group is investing significantly in Fremantle – both organically and via acquisitions – in all territories across drama and film, entertainment and documentaries. Growth Building national streaming champions RTL Group is building national streaming champions in the European countries where it has leading families of TV channels. Making the most of the Group’s competitive advantage in local programming, these streaming services will complement global services such as Netflix, Amazon Prime and Disney+. The strategy is rolled out through services such as RTL+ in Germany and Hungary, Videoland in the Netherlands and 6play in France. RTL Group’s services have gradually introduced a hybrid business model – consisting of various price packages. Lower-priced or free packages are predominantly or fully financed by advertising. The various premium price packages include, for example, several parallel streams on various devices, the live signal of RTL TV channels in HD quality and premium content bundles including the programmes of the Group’s linear TV channels in the respective countries, plus premium content either exclusively produced or licensed from third parties. At the end of December 2022, RTL Group registered 5.488 million paying subscribers for its streaming services RTL+ in Germany and Hungary and Videoland in the Netherlands, up 44.3 per cent year on year (end of December 2021: 3.804 million). The rapidly growing German streaming service was rebranded as RTL+ in November 2021 and, on average, provides more than one original per week. In 2022, RTL+ was expanded to a cross-media entertainment service, comprising video, music and podcasts, which is a unique selling proposition in the German-speaking market. As a consequence of these increased investments in RTL+ and following the strong growth of the Group’s streaming services, RTL Group raised its streaming targets in November 2021 and will therefore grow: – its annual content spend in RTL+ in Germany and Hungary and Videoland in the Netherlands to around € 600 million by 2026 – the number of paying subscribers for RTL+ in Germany and Hungary and Videoland in the Netherlands to 10 million by the end of 2026 – its streaming revenue to € 1 billion by 2026 – with the aim of reaching profitability by 2026. The peak of the investment (streaming start-up losses) is expected in 2022, with € 233 million. In November 2020, RTL Deutschland and Deutsche Telekom announced a strategic partnership to integrate the RTL streaming service RTL+ Premium within Deutsche Telekom’s TV offer, Magenta TV. Since then, price plans for both Magenta TV Smart and Magenta TV Smart Flex have included RTL+ Premium with no additional fee for customers.

Directors’ report 53 Fremantle pursues three strategic goals: – Protect and grow the core: Maintaining its position as a leading producer and distributor of quality programming by nurturing established brands such as Idols, Got Talent and Farmer Wants a Wife, while investing in creating new formats and brands and expanding the client base with global streaming platforms such as Netflix and Amazon Prime. – Grow drama, film and documentaries: Fremantle has made a series of investments in talent and labels, to grow its drama, film and documentary business, being the best choice for talent. The company has strengthened its European footprint, expanded its scripted business in Latin America and invested in several production companies focused on documentaries with aims to become a leading producer of high-end documentaries. – Diversify the business with a portfolio approach by exploiting new monetisation models such as direct-to- consumer and FAST channels. Fremantle has launched several FAST channels in the US such as Jamie Oliver, Baywatch, America’s Got Talent, currently available on different platforms and has an ambitious plan to leverage its global footprint to grow the business internationally. Given current market trends, drama series are key for RTL Group’s expansion plans for both its streaming services and its global content business, Fremantle. Fremantle continues to invest in high-end productions to accelerate its growth in drama series, films and documentaries. With a number of acquisitions – including Miso Film in Scandinavia, This is Nice Group in the Nordics, Wildside and Lux Vide in Italy, Kwaï in France, Abot Hameiri and Silvio Productions in Israel, Dancing Ledge Productions, 72 Films and Wildstar Films in the UK, Passenger and Fabel in the US, Eureka in the US and Australia, and Element Pictures in Ireland – Fremantle has created a global network that now comprises 21 production sites. Fremantle also bought minority stakes in a number of new production companies to secure first access to their creative talent and output. Working with world-class storytellers is key to Fremantle’s scripted strategy. Fremantle – together with broadcasters and streaming platforms – delivered over 100 scripted productions including high-end-series, daily dramas and films in 2022. As a result of this strategy, Fremantle generated 35 per cent of its total revenue in 2022 from drama and film productions. Investing in technology and data Combining key success factors of TV advertising – such as high reach, brand safety and emotional storytelling – with data and targeting offers significant growth potential for RTL Group’s largest revenue stream: advertising. Addressable TV will grow available inventory, attract new advertisers and deliver higher CPMs. RTL Group’s largest unit, RTL Deutschland, is responsible for the Group’s ad-tech business, Smartclip. The objective is to create an open ad-tech platform, based on the technology developed by Smartclip and tailored for the needs of European broadcasters and streaming services. Accordingly, RTL Deutschland will invest further in evolving and growing the Smartclip platform. In May 2022, RTL Group’s European ad-tech business, Smartclip, fully acquired the French ad-tech company Realytics – an acquisition that complements RTL Group’s ad-tech stack. Realytics systematically analyses the impact of TV advertising on advertiser websites and ensures data availability for digital ad decisioning. The tech platform for RTL Group’s streaming services is built by Bedrock, a French technology company. A common platform allows RTL Group to bundle its investments in streaming technology. The Bedrock platform serves Groupe M6’s streaming service, 6play, Videoland in the Netherlands, and RTL+ in Hungary. With its European ad-tech businesses, RTL Group made significant progress in building an open European ad-tech platform and in tapping into the high-growth market of addressable TV (ATV) advertising. In 2021, it was predicted that in Germany alone, the market for addressable TV advertising was expected to grow to more than € 500 million by 2025. Based on this prediction RTL Deutschland was expected to generate approximately € 200 million in ATV advertising revenue by 2025. However, the macroeconomic environment in the past two years, the slower technical distribution of connected smart TV devices and set top boxes, and the acceptance of addressable TV advertising of advertising clients delayed the market growth. RTL Group now expects that RTL Deutschland will generate approximately € 200 million in ATV advertising revenue by 2027, two years later than previously planned.

54 RTL Group Annual Report 2022 Alliances and partnerships In competing with the global tech platforms, new alliances and partnerships between European media companies have become increasingly important. In autumn 2019, RTL Group’s management started to promote new partnership opportunities – all based on the philosophy of bundling European broadcasters’ resources to establish open and neutral platforms. RTL Group offers these partnership opportunities in areas such as advertising sales, advertising technology, streaming technology, content creation and data. Driving international advertising sales One key development for RTL Group’s largest revenue stream – advertising – has been the increased demand from advertisers and agencies for global ad-buying opportunities. Consequently, RTL Group is expanding its international advertising sales to give international advertisers and agencies easy access to the Group’s large portfolio of TV and streaming services, digital video company and advertising technology, in a brand- safe environment. In February 2022, RTL Group announced its decision to combine its fully-owned businesses RTL AdConnect, G+J iMS and the media division of Smartclip to create an international advertising sales champion called RTL Ad Alliance. RTL Ad Alliance will provide international advertisers with simplified access to a unique portfolio of media brands across TV, digital video, radio/audio, online, mobile and print. Building one-stop sales houses for cross-media campaigns Ad Alliance, launched in Germany in 2016, offers high reach to advertisers and agencies, and is a one-stop-shop for the development of cross-media solutions and innovative advertising products. Its portfolio spans television, radio/audio, print, and digital. Ad Alliance is the only sales house in Germany that offers complex, all-media campaigns from a single source. After the sales house Media Impact (Axel Springer) became a partner of the German Ad Alliance for its digital inventory in January 2020, the companies agreed to intensify their partnership and expand their advertising sales cooperation to Media Impact’s print titles, such as Bild and Welt, from January 2021. Together, the platforms of Ad Alliance reach 99 per cent of the German population. Ad Alliance remains open to additional partners. RTL Nederland followed the German example by building an integrated advertising sales network for the Dutch market, also called Ad Alliance. The Dutch Ad Alliance integrates the sales activities of RTL Nederland, BrandDeli, Adfactor and Triade Media, and is also open to new partners.

Directors’ report 55 Capital markets and share RTL Group’s shares (ISIN: LU0061462528) are publicly traded on the regulated market (Prime Standard) of the Frankfurt Stock Exchange and the Luxembourg Stock Exchange. RTL Group is listed in the MDAX stock index. Share performance 1 January 2022 to 31 December 2022 in per cent Index = 100 – 12.16 % SXMP – 16.55 % RTL Group –29.22 % MDAX – 41.51 % ProSiebenSat1 RTL Group share price development for January to December 2022 based on the Frankfurt Stock Exchange (Xetra) against MDAX, Euro Stoxx 600 Media (SXMP) and ProSiebenSat1 RTL Group’s share price started 2022 at € 47.26 and finished the year down 16.6 per cent, at € 39.44, thereby outperforming the German index MDAX. The share price highs and lows were € 53.75 (21 April) and € 31.28 (10 October). Quarterly, the average share price evolved as follows: Q1: € 49.80 Q2: € 44.90 Q3: € 37.03 Q4: € 36.66 The Group declared a dividend in April 2022 that was paid on 5 May 2022. The payment of € 5.00 (gross) per share related to the 2021 full-year dividend. The total dividend paid amounted to € 774 million. Based on the average share price in 2021 (€ 48.60), this represented a dividend yield of 10.3 per cent (2021: 8.9 per cent) and a dividend payout ratio of around 80 per cent, in line with the Group’s dividend policy. For more information on the analysts’ views on RTL Group and RTL Group’s equity story, please visit the Investor Relations section on rtl.com.

56 RTL Group Annual Report 2022 RTL Group rating In 2019, RTL Group decided to cancel its ratings from both S&P and Moody’s. Until the date of the cancellation, these ratings were fully aligned to RTL Group’s parent company, Bertelsmann SE & Co KGaA, due to its shareholding level and control of RTL Group. RTL Group dividend policy RTL Group’s dividend policy offers a payout ratio of at least 80 per cent of the Group’s adjusted net result. The adjusted net result is the reported net result available to RTL Group shareholders, adjusted for any material non-cash impacts, such as goodwill impairments. RTL Group shareholding structure The share capital of the company is set at € 191,845,074, divided into 154,742,806 shares with no par value. The shares are in the form of either registered or bearer shares, at the option of the owner. 23.72 % Public 76.28 % Bertelsmann Bertelsmann has been the majority shareholder of RTL Group since July 2001. As at 31 December 2022, Bertelsmann held 76.28 per cent of RTL Group shares, and 23.72 per cent were free float. There is no obligation for a shareholder to inform the company of any transfer of bearer shares save for the obligations provided by the Luxembourg law of 15 January 2008 on transparency requirements in relation to information about issuers whose securities are admitted to trading on a regulated market. Accordingly, the company shall not be liable for the accuracy or completeness of the information shown.

Directors’ report 57 Analyst coverage18 as at 31 December 2022 Sell (1) Hold (5) 12 Buy (6) A detailed overview on the analysts’ views on RTL Group can be found on rtl.com RTL Group share master data ISIN LU0061462528 Exchange symbol RRTL WKN 861149 Share type Ordinary Bloomberg code RRTL:GR Reuters code RRTL Ticker RRTL Transparency level on first quotation Prime Standard Market segment Regulated Market Trading model Continuous Trading Sector Media Stock exchanges Frankfurt, Luxembourg Last total dividend (for financial year 2021) € 5.00 Number of shares 154,742,806 Market capitalisation19 € 6,103,056,269 52 week high € 53.75 (21 April 2022) 52 week low € 31.28 (10 October 2022) Indices RTL Group’s shares were/are listed in the indices with the weight as outlined below: Index MDAX MDAX Kursindex Prime All Share HDAX HDAX Kursindex Weight in per cent Date 0.9970 0.9972 0.0971 0.1038 0.1039 30/12/2022 30/12/2022 30/12/2022 30/12/2022 30/12/2022 18 Based on analyst coverage as at 31 December 2022 19 As of 31 December 2022

58 RTL Group Annual Report 2022 Key performance indicators RTL Group analyses key performance indicators (KPIs) to manage its businesses, including revenue, organic growth/decline, Adjusted EBITA, Adjusted EBITA before streaming start-up losses, Adjusted EBITA margin, net debt, operating cash conversion rate and audience shares in the company’s main target groups. RTL Group’s key performance indicators are mostly determined on the basis of so-called alternative performance measures, which are not defined by IFRS. Management believes they are relevant for measuring the performance of the Group’s operations, financial position and cash flows, and for making decisions. These KPIs also provide additional information for users of the financial statements regarding the management of the Group on a consistent basis over time and regularity of reporting. These should not be considered in isolation but as complementary information for evaluating the Group’s business situation. RTL Group’s KPIs may not be comparable to similarly titled measures reported by other groups due to differences in the way these measures are calculated. Organic growth/decline Organic growth is calculated by adjusting the reported revenue growth mainly for the impact of exchange rate effects, corporate acquisitions and disposals. It should be seen as a component of the reported revenue shown in the income statement. Its main objective is for the reader to isolate the impacts of portfolio changes and exchange rates on the reported revenue. When determining the exchange rate effects, the functional currency that is valid in the respective country is used. Potential other effects may include changes in methods and reporting. Adjusted EBITA EBIT, Adjusted EBITA and EBITDA are indicators of operating profitability. With significant investments in the Group’s streaming activities, RTL Group additionally use Adjusted EBITA before streaming start-up losses. The key performance indicator for the operating profitability of RTL Group and its business units is Adjusted EBITA. Analysts also continue to use EBITDA as a KPI for the Group’s profitability. As a result, for these purposes the calculation of EBITDA for the Group is also disclosed. RTL Group comments primarily on Adjusted EBITA as the KPI for measuring profitability. Adjusted EBITA represents a recurring operating result and excludes significant special items. RTL Group management has established an ‘Adjusted EBITA’ that neutralises the impacts of structural distortions for the sake of transparency. Based on the accelerated industry trends explained in the Market section (pages 48 to 49) and Strategy section (pages 50 to 54) in this Directors’ report, RTL Group plans to increase its investments in business transformation including streaming, premium content, technology and data. At the same time, management continually assess opportunities to reduce costs in the Group’s traditional broadcasting activities – for example, reallocating resources from its traditional businesses to its growing digital businesses – and this may lead to restructuring expenses that are neutralised in the Adjusted EBITA. Adjusted EBITA is determined as earnings before interest and taxes (EBIT) as disclosed in the income statement excluding the following elements: – Impairment of goodwill of subsidiaries and amortisation and impairment of fair value adjustments on acquisitions of subsidiaries – Impairment and reversals of investments accounted for using the equity method – Impairment and reversals on other financial assets at amortised cost presented in ‘Other operating expenses’ or ‘Other operating income’ – Re-measurement of earn-out arrangements presented in ‘Other operating income’ or ‘Other operating expenses’ – Fair value measurement of investments presented in ‘Other operating income’ or ‘Other operating expenses’ – (Gain)/loss from sale of subsidiaries, other investments and re-measurement to fair value of pre-existing interest in acquiree – Significant special items Significant special items exceeding the cumulative threshold of € 5 million need to be approved by management, and primarily consist of restructuring expenses or reversal of restructuring provisions and other special factors or distortions. The adjustments for special items serve to determine a sustainable operating result that could be repeated under normal economic circumstances and is not affected by special factors or structural distortions. In 2022, ‘Significant special items’ reflects restructuring and integration costs in Germany (€ –33 million) following the Gruner + Jahr transaction as

Directors’ report 59 well as the impact of expenses in connection with strategic portfolio management (€ –11 million). In 2021 ‘Significant special items’ reflected the impact of restructuring expenses at RTL Deutschland (€ –38 million), reversal of negative effects from onerous advertising sales contracts (€ 10 million) and the impact of expenses in connection with strategic portfolio management (€ –33 million). Earnings before interest and taxes (EBIT) Impairment of goodwill of subsidiaries Amortisation and impairment of fair value adjustments on acquisitions of subsidiaries Impairment and reversals of investments accounted for using the equity method Impairment and reversals on other financial assets at amortised cost Re-measurement of earn-out arrangements Fair value measurement of investments (Gain)/loss from sale of subsidiaries, other investments and re-measurement to fair value of pre-existing interest in acquiree EBITA Significant special items Adjusted EBITA 2022 € m 987 – 46 5 30 – 78 (107) 1,039 44 1,083 2021 € m 1,908 – 19 (2) – – 115 (949) 1,091 61 1,152 Adjusted EBITA before streaming start-up losses In accordance with RTL Group’s strategy, the company continued to invest heavily in its streaming services, RTL+ in Germany and Hungary and Videoland in the Netherlands, all of which have seen a rapid increase in the number of paying subscribers (for further details please refer to Building national streaming champions on page 52). The Adjusted EBITA of RTL Group is impacted by effects relating to the growth of its streaming services. These are operational in nature, and are not included in ‘Significant special items’. RTL Group believes the disclosure of ‘streaming start-up losses’ and ‘Adjusted EBITA before streaming start-up losses’ provide important context for its business performance, hence it discloses information relating to both KPIs in addition to its leading alternative performance measure, ‘Adjusted EBITA’. Streaming start-up losses are defined as a total of Adjusted EBITA from RTL+ in Germany and Hungary, Videoland/RTL XL, Salto and Bedrock as consolidated on RTL Group level. For the year 2022, the total of streaming start-up losses amounted to €233 million (2021: €166 million). Adjusted EBITA before streaming start-up losses was €1,316 million (2021: €1,318 million). Adjusted EBITA margin The Adjusted EBITA margin as a percentage of Adjusted EBITA of revenue is used as an additional criteria for assessing business performance. EBITDA EBITDA represents earnings before interest and taxes (EBIT) excluding some elements of the income statement: – Amortisation and impairment of non-current fair value adjustments) and of right-of-use assets reported in ‘Depreciation, amortisation and impairment’ – Impairment of goodwill of subsidiaries and amortisation programme and other rights, of other intangible assets, depreciation and impairment of property, plant and equipment, (excluding the part concerning goodwill and and impairment of fair value adjustments on acquisitions of subsidiaries

60 RTL Group Annual Report 2022 – Impairment and reversals of investments accounted for using the equity method – Fair value measurement of investments presented in ‘Other operating income’ or ‘Other operating expenses’ – Impairment and reversals on other financial assets at – (Gain)/loss from sale of subsidiaries, other investments amortised cost presented in ‘Other operating expenses’ or ‘Other operating income’ and re-measurement to fair value of pre-existing interest in acquiree – Re-measurement of earn-out arrangements presented in ‘Other operating income’ or ‘Other operating expenses’ Earnings before interest and taxes (EBIT) Depreciation, amortisation and impairment Impairment of goodwill of subsidiaries Amortisation and impairment of fair value adjustments on acquisitions of subsidiaries Impairment and reversals of investments accounted for using the equity method Impairment and reversals on other financial assets at amortised cost Re-measurement of earn-out arrangements Fair value measurement of investments (Gain)/loss from sale of subsidiaries, other investments and re-measurement to fair value of pre-existing interest in acquiree EBITDA 2022 € m 987 240 2021 € m 1,908 209 – 46 5 30 – 78 – 19 (2) – – 115 (107) 1,279 (949) 1,300 Operating cash conversion rate The operating cash conversion rate (OCC) reflects the level of operating profits converted into cash available for investors after incorporation of the minimum investments required to sustain the current profitability of the business and before reimbursement of funded debts (interest included) and payment of income taxes. The operating cash conversion rate of RTL Group’s operations is subject to seasonality and investment cycles. RTL Group historically had – and expects in the future to have – a strong OCC due to a high focus on working capital and capital expenditure throughout the Group’s operations. OCC should be above 90 per cent in the long-term average and/or it should normally exceed market benchmarks in a given year. Net cash from operating activities Adjusted by: Income tax paid Transaction-related costs Acquisitions of: – Programme and other rights – Other intangible and tangible assets Proceeds from the sale of intangible and tangible assets Operating free cash flow EBITA Operating cash conversion rate OCC means operating free cash flow divided by EBITA – operating free cash flow being net cash from operating activities adjusted by the following elements: – Income tax paid – Cash outflows from the acquisitions of programme and other rights and other intangible and tangible assets – Cash inflows from proceeds from the sale of intangible and tangible assets – Transaction-related costs with regard to significant disposals of subsidiaries 2022 € m 2021 € m 463 293 9 (68) (133) 1 565 1,039 54 % 932 437 72 (88) (107) 2 1,248 1,091 114 %

Directors’ report 61 Net cash/(debt) The net cash/(debt) is the gross balance sheet financial debt adjusted for: – Cash and cash equivalents – Current deposit with shareholder and its subsidiaries reported in ‘Accounts receivable and other financial assets’ Current loans and bank overdrafts Non-current loans Deduction of: – Cash and cash equivalents – Current deposits with shareholder and its subsidiaries Net cash/(debt) EBITDA Net cash/(debt) to EBITDA ratio The net debt excludes current and non-current lease liabilities of € 385 million (31 December 2021: € 332 million). In order to assess RTL Group’s leverage, the net debt to EBITDA ratio is used. The ratio is calculated as net debt divided by EBITDA. 31 December 2022 € m 31 December 2021 € m (547) (138) (685) 589 276 180 1,279 n.a. (49) (635) (684) 547 794 657 1,300 n.a.

62 RTL Group Annual Report 2022 Operating cost base Operating cost base is calculated as the sum of ‘Consumption of current programme rights’, ‘Depreciation, amortisation, and impairment’ and ‘Other operating expenses’. Consumption of current programme rights Depreciation, amortisation and impairment Other operating expenses Operating cost base Dividend payout ratio Dividend payout ratio means the absolute dividend amount divided by the adjusted profit attributable to RTL Group shareholders. 2022 € m 2021 € m 2,894 240 3,257 6,391 2,512 209 3,055 5,776 The absolute dividend amount is based on the number of issued ordinary shares at 31 December, multiplied by the dividend per share. The main adjustments on profit attributable to RTL Group shareholders refer to SpotX, Super RTL, Stéphane Plaza Immobilier, Eureka and VideoAmp. Profit attributable to RTL Group shareholders Dividend policy adjustments Adjusted profit for the year attributable to RTL Group shareholders from ordinary activities from cash capital gains (from RTL Belgium and RTL Croatia transactions) Dividend in € per share from ordinary activities from cash capital gains (from RTL Belgium and RTL Croatia transactions) Dividend, absolute amount Dividend payout ratio20 2022 € m 673 13 660 552 109 4.00 3.50 0.50 619 94 % 20 Dividend, absolute amount/adjusted profit attributable to RTL Group shareholders

Directors’ report 63 Financial review Revenue RTL Group estimates that the net TV advertising markets were down in Germany and France, while increasing in the Netherlands and Hungary. A summary of RTL Group’s key markets is shown below, including estimates of net TV advertising market growth rates and the audience shares in the main target audience group. Germany France The Netherlands Hungary Estimated net TV advertising market growth rate 2022 (in per cent) RTL Group audience share in the main target group 2022 (in per cent) –8.0 to –9.021 –223 +8.721 +3.621 26.822 22.324 34.725 28.926 RTL Group audience share in the main target group 2021 (in per cent) 26.322 22.824 34.225 30.526 Group revenue increased 8.8 per cent to € 7,224 million (2021: € 6,637 million), mainly thanks to strong growth of Fremantle, RTL Deutschland (from the acquisitions of Gruner + Jahr in 2022 and Super RTL in 2021) and RTL Nederland. Group revenue was up 1.6 per cent organically27 compared to 2021, driven by Fremantle and RTL Nederland. RTL Group revenue bridge in 2022 (in € million) +106 7,224 +388 6,637 +92 FX Scope Organic increase 2021 2022 21 Industry and RTL Group estimates 22 Source: GfK. Target group: 14−59, including pay TV channels 23 Source: Groupe M6 estimate 24 Source: Médiamétrie. Target group: women under 50 responsible for purchases (free-to-air channels: M6, W9, 6ter and Gulli) 25 Source: SKO. Target group: 25−54, 18−24h 26 Source: AGB Hungary. Target group: 18−49, prime time; RTL Hungary has changed the publication of its audience figures as of 2022 and is now using ’Linear SHR’ audience share data calculated without the category ‘Other’ of Nielsen 27 Adjusted for portfolio changes and at constant exchange rates. Further details can be found in Key performance indicators on page 58

64 RTL Group Annual Report 2022 Streaming revenue – which includes SVOD, TVOD, in-stream and distribution revenue from RTL+ in Germany and Hungary and Videoland/RTL XL in the Netherlands – was up by 19.7 per cent, to € 267 million (2021: € 223 million), thanks to the rapidly growing number of paying subscribers. RTL Group’s advertising revenue was € 3,722 million (2021: € 3,774 million), of which € 2,923 million represented TV advertising revenue (2021: € 3,057 million), € 385 million represented digital advertising revenue (2021: € 348 million) and € 192 million represented radio advertising revenue (2021: € 219 million). RTL Group’s digital revenue was up by 13.9 per cent to € 1,234 million (2021: € 1,083 million), mainly thanks to RTL Deutschland and Fremantle. Distribution revenue28 – generated across all distribution platforms (cable, satellite, internet TV) including subscription and re-transmission fees – was stable at € 438 million (2021: € 437 million). Digital revenue is spread over three different categories: digital advertising sales, revenue from distribution and licensing content, and consumer and professional services. In contrast to some competitors, RTL Group recognises only pure digital businesses as digital revenue and does not consider e-commerce, home shopping and distribution revenue as digital revenue. Revenue from e-commerce and home shopping is included in ‘revenue from selling goods and merchandise and providing services’ as stated in note 5.1 to the consolidated financial statements. RTL Group’s revenue is well diversified, with 40.5 per cent from TV advertising, 22.6 per cent from content, 17.1 per cent from digital activities, 6.1 per cent from distribution revenue, 2.7 per cent from radio advertising, and 11.0 per cent from other revenue. RTL Group revenue split 22.6 % Content 17.1 % Digital 11.0 % Other Geographical revenue overview 28 Revenue generated across all distribution platforms (cable, satellite, internet TV) including subscription and re-transmission fees Germany France United States The Netherlands UK Belgium Other regions 40.5 % TV advertising 2.7 % Radio advertising 6.1 % Distribution revenue 2022 € m 2022 % 2021 € m 2,606 1,367 1,003 628 319 72 1,229 36.1 18.9 13.9 8.7 4.4 1.0 17.0 2,241 1,392 901 610 233 203 1,057 2021 % 33.8 21.0 13.6 9.2 3.5 3.1 15.9

Directors’ report Adjusted EBITA Adjusted EBITA29 was down by 6.0 per cent to € 1,083 million (2021: € 1,152 million), due to RTL Deutschland (with higher streaming start-up losses and lower TV advertising revenue), the scope exit of RTL Belgium, and Groupe M6. These effects were partly offset by record Adjusted EBITA contributions from RTL Nederland and Fremantle. The Adjusted EBITA margin29 decreased to 15.0 per cent (2021: 17.4 per cent) as streaming start-up losses29 increased to € 233 million (2021: € 166 million). For more detailed information and reconciliation of these measures see pages 58 to 59. Financial development over time Revenue Adjusted EBITA Net cash/(debt) Operating cash conversion rate (in per cent) Operating cost base Group operating cost base increased to € 6,391 million in 2022 (2021: € 5,776 million), mainly due to increased programme costs at the Group’s broadcasting businesses, production costs at Fremantle and scope effects mainly relating to the acquisition of Gruner + Jahr. Investments accounted for using the equity method The total share of results of these investments decreased to € 14 million (2021: € 27 million), mainly due to declined results of underlying companies and changes in the consolidation method of Super RTL and Stéphane Plaza Immobilier. Furthermore, the Group experienced a negative impact from its share of net losses from Salto in 2022, which amounted to € –18 million. Cumulative losses of Salto since inception in excess of the value of the Group's investment were recognised as an impairment amount of € –28 million to the provided loan and an excess of € –15 million as a provision. Fair value measurement of investments Fair value measurement of investments of € –78 million (2021: € –115 million) is mostly attributable to the negative valuation effects of the Magnite shares held by RTL Group. Gain from sale of subsidiaries, other investments and re-measurement to fair value of pre-existing interest in acquiree In 2022, the Group recorded a gain of € 107 million (2021: € 949 million), mainly thanks to the disposals of RTL Belgium and RTL Croatia. In 2021, the gain was mainly thanks to the disposals of SpotX and Ludia and positive effects in re-measurement of pre-existing interests in Super RTL and Stéphane Plaza Immobilier. 2022 € m 2021 € m 2020 € m 2019 € m 7,224 1,083 180 54 6,637 1,152 657 114 6,017 853 236 123 6,651 1,156 (384) 105 2018 € m 6,505 1,171 (470) 90 Financial result Financial result amounted to the expense of € –55 million (2021: € –27 million). The comprehensive description on the financial result is disclosed in the notes 5.4 and 5.5 to the consolidated financial statements. Impairment of goodwill and amortisation and impairment of fair value adjustments on acquisitions of subsidiaries The Group has conducted impairment testing on the different cash-generating units (see note 6.2 to the consolidated financial statements). The loss, totalling € –46 million (2021: € –19 million), relates to the amortisation of fair value adjustments on acquisitions of subsidiaries. Income tax expense In 2022, the income tax expense was € –166 million (2021: € –427 million), due to lower profit before tax mainly resulting from a decrease of taxable capital gains compared to 2021. Profit attributable to RTL Group shareholders The profit for the year attributable to RTL Group shareholders was €673 million (2021: €1,301 million). The profit in 2021 was extraordinarily high mainly thanks to the capital gains of the disposals of SpotX and Ludia, positive effects of pre-existing interests in Super RTL and Stéphane Plaza Immobilier, and higher Adjusted EBITA. Earnings per share Earnings per share, based upon 154,742,806 weighted average number of ordinary shares, both basic and diluted, was € 4.35 (2021: € 8.41 per share based on 154,742,806 shares). 65 29 See Key performance indicators on pages 58 to 59

66 RTL Group Annual Report 2022 Own shares RTL Group has an issued share capital of € 154,742,806 divided into 154,742,806 fully paid-up shares with no defined par value. Since 31 December 2020, the Group no longer holds treasury shares. Profit appropriation (RTL Group SA) The annual accounts of RTL Group show a profit for the financial year 2022 of € 104,596,391 (2021: € 70,963,534). Taking into account the share premium account of € 4,167,138,981 (2021: € 4,691,802,190) and the profit brought forward of € 70,963,534 (2021: € 249,050,821), the amount available for distribution is € 4,342,698,906 (2021: € 5,011,816,545). Main portfolio changes In January 2022, RTL Deutschland GmbH acquired 100 per cent of the share capital of Gruner + Jahr Deutschland GmbH and, on 1 April 2022, 50 per cent of Deutsche Medien Manufaktur (DMM). These acquisitions were preceded by RTL Group’s decision in August 2021 to acquire Gruner + Jahr’s German publishing assets and brands from Bertelsmann to create a German cross-media champion across TV, streaming, print, radio and digital. The final purchase price amounted to € 228 million, of which € 210 million was pre-paid in 2021. In January 2022, RTL Group sold its entire investment in VideoAmp – a US software and data company for media measurement – for US-$ 104 million (€ 92 million) in cash. The transaction was carried out as a share buyback by VideoAmp. In March 2022, Fremantle acquired 70 per cent of the shareholding in the leading Italian scripted production company, Lux Vide, for € 43 million. In May 2022, Fremantle acquired 51 per cent of Element Pictures, the production company behind Academy Award, Golden Globe and BAFTA-winning films The Favourite and Room, the global drama Normal People, and the mini-series Conversations With Friends. The consideration transferred amounted to € 56 million and comprises a purchase price payment already made in the amount of € 46 million and a contingent consideration in the amount of € 10 million. In May 2022, RTL Group’s European ad-tech business, Smartclip, fully acquired the French ad-tech company Realytics for € 7 million. In June 2022, RTL Group sold RTL Croatia to Central European Media Enterprises (CME). The total consideration amounts to € 41 million net of cash disposed and is subject to customary adjustments. In addition, RTL Group has agreed to a long-term trademark licensing agreement with the buyer. In March 2022, RTL Group closed the sale of RTL Belgium to the Belgian media companies DPG Media and Groupe Rossel, resulting in net cash inflows of € 154 million. In April 2022, Fremantle increased its stake in Dancing Ledge Productions from 25 per cent to 61 per cent for € 6 million. The UK-based production company is behind drama series such as The Responder and The Salisbury Poisonings. In June 2022, Fremantle fully acquired Eureka for an additional US-$ 55 million (€ 55 million) after taking a majority stake of 51 per cent in 2021. In November 2022, Fremantle acquired a 55 per cent stake in 72 Films for € 51 million, of which € 44 million was paid in cash. In the same month, Fremantle also acquired a 51 per cent stake in Wildstar Films for € 19 million, of which € 13 million was paid in cash. Major related party transactions At 31 December 2022, the principal shareholder of the Group is Bertelsmann Capital Holding GmbH (BCH) (76.28 per cent). The remainder of the Group’s shares are publicly listed on the Frankfurt and Luxembourg Stock Exchanges. The ultimate parent company of RTL Group SA, Bertelsmann SE & Co KGaA, includes in its consolidated financial statements those of RTL Group SA. The Group also has a related party relationship with its associates, joint ventures, directors and executive officers. The comprehensive description on the related party transactions is disclosed in note 10 to the consolidated financial statements.

Directors’ report General management statement on the fiscal year 2022 performance 67 Linear TV continues to dominate the video market as the only medium to consistently reach mass audiences every day. People watch more video content than ever before – linear and non-linear, long-form and short-form, on televisions and mobile devices, and increasingly on different streaming platforms. The demand for high- quality video content continues to grow, and with it, online video advertising. RTL Group estimates that the net TV advertising markets showed a mixed picture in 2022. The advertising markets in Germany and France were down, mainly in the second half of the year, while advertising markets in the Netherlands and Hungary were up. The advertising markets were up in the first quarter of 2022 but deteriorated due to an increasingly challenging macroeconomic environment, in particular due to the war in Ukraine, inflation, energy supply and supply chain issues. These negative external factors also particularly impacted the publishing business that was acquired by RTL Deutschland at the beginning of 2022. Across Europe, RTL Group’s flagship channels remained number one or two in their respective markets and target groups. RTL Deutschland and RTL Nederland reported higher audience shares and increased their lead over their commercial competitors, while the audience share of Groupe M6 and RTL Hungary decreased. Groupe M6’s audience share was impacted by the strong performance of TF1 in France, which aired the Fifa Football World Cup. In 2022, RTL Group also made other significant portfolio changes, acquiring Gruner + Jahr’s German publishing assets and brands and successfully selling VideoAmp, RTL Belgium and RTL Croatia and thereby creating capital gains. The Group also made eight strategic acquisitions and step-ups on the level of Fremantle across all genres to strengthen its content businesses. RTL Group’s growth businesses of streaming and content performed particularly well. RTL+ in Germany and Hungary and Videoland in the Netherlands registered 5.5 million paying streaming subscribers, and Fremantle delivered over 100 drama productions. In 2022, RTL Deutschland gradually expanded its cross-media offer with the launch of the RTL+ Musik app, which gives RTL+ users access to more than 90 million songs and more than 100 radio streams. RTL+ entered an exclusive partnership with Deezer, one of the world's leading music streaming services. Podcasts were also added within the RTL+ Musik app during the year followed by a growing selection of audiobooks. RTL Group’s streaming revenue increased by 19.7 per cent to € 267 million during 2022 as a result of subscriber growth. In addition, RTL Group continued to accelerate the expansion of its content production business, Fremantle – both organically and via M&A – targeting € 3 billion revenue by 2025. Fremantle will continue to focus on drama and film, entertainment and documentaries. Major creative successes included shows such as America’s Got Talent, the quiz show Password and film and series productions such as The Mosquito Coast and documentaries such as Planet Sex with Cara Delevingne. The company has positioned itself as a producer of quality TV drama and film with worldwide appeal to both broadcasters and streaming services. As one of the biggest independent production companies, Fremantle continues to focus on creative talent and on developing projects that will feed into its network. One example is its three-year international filmmaking agreement with Oscar-winning actress Angelina Jolie that was signed in March 2022. Fremantle and Angelina Jolie will jointly develop a variety of feature films, documentaries and original series that she will produce, direct, or star in. For the full year 2022, RTL Group generated an Adjusted EBITA of € 1,083 million with an Adjusted EBITA margin of 15.0 per cent. The Group’s Adjusted EBITA before streaming start-up losses was € 1,316 million. RTL Group ended the year 2022 with a very strong set of financial results, including a Group profit of € 766 million and net cash of € 180 million. At the time of writing, RTL Group is characterised by a strong financial position and operating performance, despite the challenging macroeconomic environment. A strong performance enables both attractive dividend payments and significant investments in streaming services, technology, and the growth of the Group’s content business. RTL Group is therefore in a strong position to accelerate its strategy: – It has a highly profitable, well-established, cash- generating core business in TV broadcasting. – The company is heavily investing in its streaming services, RTL+ in Germany and Hungary and Videoland in the Netherlands, with a rapidly increasing number of paying subscribers. – The company’s content production company, Fremantle, has successfully branched out into scripted drama, high-end factual and documentary programming. – The company is among the European leaders in ad-tech.

68 RTL Group Annual Report 2022 Review by segments Full year 2022 Revenue RTL Deutschland Groupe M6 Fremantle RTL Nederland Other segments Eliminations Total revenue Adjusted EBITA RTL Deutschland Groupe M6 Fremantle RTL Nederland Other segments Eliminations Adjusted EBITA Adjusted EBITA margin RTL Deutschland Groupe M6 Fremantle RTL Nederland RTL Group 2022 € m 2,766 1,357 2,347 636 411 (293) 7,224 2022 € m 459 304 162 161 (12) 9 1,083 2022 per cent 16.6 22.4 6.9 25.3 15.0 2021 € m 2,425 1,390 1,926 575 604 (283) 6,637 Per cent change +14.1 (2.4) +21.9 +10.6 (32.0) +8.8 2021 € m 541 329 141 107 33 1 1,152 Per cent change (15.2) (7.6) +14.9 +50.5 <100.0 (6.0) 2021 per cent 22.3 23.7 7.3 18.6 17.4 Percentage point change (5.7) (1.3) (0.4) +6.7 (2.4)

Directors’ report 69 RTL Deutschland Financial results In the reporting period, the German net TV advertising market was estimated to be down between 8.0 and 9.0 per cent with RTL Deutschland performing in line with the market. Total revenue of RTL Deutschland was up 14.1 per cent to € 2,766 million (2021: € 2,425 million), driven by the acquisitions of Gruner + Jahr in 2022 and Super RTL in 2021, as well as the German streaming service RTL+, partly offset by lower TV advertising revenue. Adjusted EBITA was down 15.2 per cent to € 459 million (2021: € 541 million), mainly due to higher streaming start-up losses and lower TV advertising revenue. This was partly offset by the reversal of provisions of € 35 million relating to the legal proceeding with RTL 2 Fernsehen GmbH & Co KG and its sales house El Cartel Media GmbH & Co KG. With a decreasing print advertising market and increased prices for energy and paper, the acquired publishing business from Gruner + Jahr did not contribute notably to RTL Deutschland’s Adjusted EBITA. Audience ratings In 2022, the combined average audience share of RTL Deutschland in the target group of viewers aged 14 to 59 was 26.8 per cent (2021: 26.3 per cent), including the pay-TV channels RTL Crime, RTL Living, RTL Passion and Geo Television. The German RTL family of channels increased its lead over its main commercial competitor, ProSiebenSat1, to 4.5 percentage points (audience share 2022: 22.3 per cent, lead up 1.0 percentage point compared to the previous year). With its portfolio of eight free-TV channels, four pay-TV channels and the streaming service RTL+, RTL Deutschland reached 27.9 million viewers every day in 2022 (2021: 29.2 million). With an audience share of 9.1 per cent (up 0.1 percentage points) in the target group of viewers aged 14 to 59 in 2022 (2021: 9.0 per cent), the German main channel RTL was the leading commercial channel, ahead of Sat1 (6.5 per cent), Vox (6.2 per cent) and ProSieben (5.8 per cent), but behind the public channels ZDF (9.3 per cent) and Das Erste (9.1 per cent). Ich bin ein Star – Holt mich hier raus! (I’m a Celebrity – Get Me Out of Here!) was the channel’s most successful show in 2022. On average, 4.37 million total viewers (19.5 per cent) watched the 15th season, representing an average audience share of 26.0 per cent in the commercial target group of viewers aged 14 to 59. Let’s Dance generated the best audience share since 2016, scoring an average of 17.8 per cent in the commercial target group (2021: 17.5 per cent). The most-watched programme on RTL was the Europa League final of Eintracht Frankfurt vs. Glasgow Rangers on 18 May, which attracted an average of 9.1 million total viewers and a total audience share of 38.9 per cent. Three Uefa Nations League matches with the German National team also scored high audience shares. The late-night news show RTL Direkt scored an average audience share of 8.4 per cent in the commercial target group of viewers aged 14 to 59, putting it on par with the established news shows from the public broadcasters, Heute Journal and Tagesthemen. The extension of print brands to TV started well with the new TV magazine Gala (average audience share of 8.5 per cent) and the new weekly format Stern TV am Sonntag (7.2 per cent). In access primetime the daily series Gute Zeiten, schlechte Zeiten continued to generate a high audience share and attracted 13.7 per cent of viewers aged 14 to 59 (2021: 13.7 per cent).

70 RTL Group Annual Report 2022 RTL Deutschland (continued) The streaming service RTL+ continued its rapid growth in 2022 reaching 4.016 million paying subscribers – an increase of 48.1 per cent (2021: 2.712 million). Viewing time increased by 28 per cent year-on-year, making RTL+ the leading German entertainment offering in the streaming market. This was thanks to the wide range of programmes available, including reality TV shows such as Temptation Island VIP, Das Sommerhaus der Stars and Der Bachelor, and fictional series such as Sisi, Der König von Palma and Der Schiffsarzt. The football matches Eintracht Frankfurt vs. Glasgow Rangers, OGC Nizza vs. 1. FC Köln and Borussia Dortmund vs. Glasgow Rangers also attracted large audiences. The most-watched original documentary was Bushido. In 2022, Vox ranked third among the commercial channels with an average audience share of 6.2 per cent in the target group of viewers aged 14 to 59 (2021: 6.1 per cent) and 6.7 per cent in the target group of viewers aged 14 to 49 (2021: 6.7 per cent). The primetime show Die Höhle der Löwen (Dragons’ Den) remained popular, generating the best spring season ever with an average audience share of 12.0 per cent in the commercial target group of viewers aged 14 to 59, while Kitchen Impossible was watched by 10.3 per cent. Mälzer und Henssler liefern ab (8.2 per cent), Sing meinen Song (6.8 per cent), Goodbye Deutschland (6.6 per cent) and First Dates Hotel (6.6 per cent) were also successes for Vox in the target group. The documentary Zum Schwarzwälder Hirsch – Eine außergewöhnliche Küchencrew was the best format launch in 2022, attracting an audience share of 6.9 per cent in the same target group. Nitro attracted 2.2 per cent of the 14 to 59 target group (2021: 2.2 per cent) and 3.0 per cent of its main target demographic of men aged 30 to 49 (2021: 2.9 per cent). The news channel NTV scored a total audience share of 1.2 per cent and attracted 1.4 per cent of viewers aged 14 to 59 (2021: 1.1 per cent and 1.2 per cent). RTL and NTV have kept the public continuously informed about the war in Ukraine since the first Russian attack. Between 24 February and 25 March 2022 alone, the channels provided around 377 hours of information in 140 RTL and NTV specials, reaching more than 36 million people in Germany. RTL Up, previously RTL Plus, attained a 1.9 per cent audience share in the target group aged 14 to 59 (2021: 1.8 per cent). Vox Up generated an audience share of 0.6 per cent in the target group of viewers aged 14 to 59, up 0.2 percentage points compared to 2021. Super RTL retained its leading position in the children’s segment in 2022, attracting an average audience share of 17.4 per cent in the target group of three to 13-year-olds between 06:00 and 20:15, including Toggo Plus (2021: 21.0 per cent), ahead of the public service broadcaster KiKA (15.9 per cent) and Disney (11.2 per cent). In 2022, RTL Zwei’s market share remained stable at 3.7 per cent among 14 to 59-year-old viewers (2021: 3.7 per cent). RTL Deutschland’s publishing business was impacted by the challenging market environment, mainly due to increased prices for paper and energy, increasing inflation and supply chain issues. Thanks to strong stories and cover motifs, Stern kept its market share30 in retail sales almost stable at 26.4 per cent (IVW2021: 27.0 per cent). Nevertheless, and as expected, Stern lost 6.5 per cent in total circulation in 2022 compared to 2021. Stern was able to reduce the decline in total sales by 1.2 percentage points compared to the previous year (IVW 2021: −7.7 per cent). The circulation of celebrity magazine, Gala, was down 3.3 per cent compared to 2021 and the circulation of business magazine, Capital, was down 2.6 per cent. Following the combination of RTL Deutschland and Gruner + Jahr, RTL Deutschland continued to expand its brands cross-media. RTL Television successfully launched Stern TV am Sonntag and Gala, while Super RTL started a new edutainment magazine for children, Geolino TV. RTL Deutschland continued to invest in paid content and the digital expansion of its brands. With Chefkoch Plus, Europe’s biggest food platform now offers its users a paid premium subscription that includes smart cooking features and no advertising. Radio consumption in Germany remained strong in 2022, reaching 74.5 per cent of Germans aged 14+ daily – with an average listening time of 249 minutes per day. RTL Group’s German radio portfolio reached 14 million Germans aged 14+ each day. 104.6 RTL maintained its market-leading position in the highly competitive Berlin/ Brandenburg radio market in the target group of listeners aged 14 to 49. Many radio stations increased their reach year on year, including Radio Brocken (of 41.9 per cent among listeners aged 14 to 49), Antenne Niedersachen (up 14.4 per cent among listeners aged 14+) and RTL Radio Deutschland’s Hitradio (up 22.7 per cent among listeners aged 14+). 30 Competitive environment defined as Der Spiegel, Die Zeit, Focus and Stern

Directors’ report Groupe M6 Financial results In 2022, the French net TV advertising market was estimated to be down 2 per cent compared to 2021, with Groupe M6 underperforming in the market. Groupe M6’s total revenue was slightly down by 2.4 per cent to € 1,357 million (2021: € 1,390 million). The decrease in revenue was mainly due to the decrease in advertising revenue, partly offset by the growth of non-advertising revenue. Accordingly, Groupe M6’s Adjusted EBITA was down 7.6 per cent to € 304 million (2021: € 329 million). Audience ratings The audience share of the Groupe M6 family of free-to- air channels in the commercial target group (women under 50 responsible for purchases) reached 22.3 per cent (2021: 22.8 per cent). The total audience share was 13.5 per cent (2021: 14.3 per cent). On average, 23.0 million viewers watched Groupe M6’s free-to-air channels every day in 2022 (2021: 25.1 million). Flagship channel M6 retained its status as the second most-watched channel in France in the commercial target group, with an average audience share of 14.1 per cent (2021: 14.7 per cent). Established entertainment brands such as L'Amour est dans le pré (Farmer Wants a Wife), Top Chef and La France a Un Incroyable Talent (Got Talent) continued to attract high audience shares. The channel also introduced new favourites such as Les Traîtres (The Traitors). M6’s news shows Le 1245 and Le 1945, and magazine formats such as Capital and Zone Interdite scored audience records in the commercial target group. The advertising-financed streaming service 6play recorded 24.5 million active users in 2022 (2021: 28.5 million). The viewing time was 470 million hours (2021: 530 million). 71 W9 reached an average audience share of 3.6 per cent among women under 50 responsible for purchases (2021: 3.8 per cent), ranking second among the DTT channels in France in this target group. Reality series, sports, films, and magazines continued to score high ratings. Among the new generation of DTT channels, 6ter remained the leader in the commercial target group for the fifth consecutive year, with an average audience share of 2.7 per cent (2020: 2.6 per cent). With Gulli, Groupe M6 was the leader among the children’s target group (aged 4 to 10 years) during daytime (06:00 to 20:00), attracting an average audience share of 12.6 per cent (2021: 12.7 per cent). Every day, nearly 5 million viewers watch their favourite animated heroes, live-action series, games and documentaries, as well as fiction and films for the whole family. In 2022, the RTL radio family of stations registered a consolidated audience share of 18.4 per cent among listeners aged 13 and older (2021: 18.2 per cent). Its flagship station RTL Radio was the leading commercial station in France and increased its average audience share to 12.8 per cent (2021: 12.5 per cent). The pop-rock station RTL 2 recorded an average audience share of 3.1 per cent (2021: 3.0 per cent), while Fun Radio registered an average audience share of 2.5 per cent (2021: 2.8 per cent).

72 RTL Group Annual Report 2022 Fremantle Financial results Revenue at RTL Group’s content business, Fremantle, was up by 21.9 per cent to € 2,347 million in 2022 (2021: € 1,926 million), thanks to scope effects from acquisitions in 2021 and 2022, organic growth31 (up 7.8 per cent) and positive foreign exchange rate effects. Accordingly, Adjusted EBITA was up 14.9 per cent to € 162 million (2021: € 141 million). Drama and film 2022 saw several successful global drama launches, including The King (Il Re), from The Apartment Pictures and Wildside which premiered in Italy on Sky Atlantic and became the highest-rated Sky original scripted launch of 2022. A second season has already been recommissioned. Lux Vide’s Don Matteo was the number three fiction show on Rai1 in 2022, with each episode ranking as Italy’s number one show of the day. The crime drama series from Dancing Ledge Productions, The Responder, achieved an average total audience share of 21.2 per cent on BBC One in the UK, peaking with an audience of 7.5 million viewers, making it the BBC’s second most popular new drama in the first half of 2022. It has since been sold internationally to Disney+ and Canal+, and the second season has already been commissioned. The series This England, produced by Passenger, was 2022’s number one Sky Atlantic Original drama launch based on seven-day and 28-day viewing. The series has also sold to over 90 countries around the world. Heartbreak High from Fremantle in Australia was a global hit for Netflix, spending three weeks in its global top ten TV shows and generating over 43 million hours of viewing while it was in the top ten. It charted in Netflix’s top ten TV shows in 46 territories, with highest rankings at number two in Australia and number three in New Zealand. The show has already been renewed for a second season. Fremantle continued to boost its film business in 2022, with Miso Film’s Blasted achieving the number one spot in the global Netflix top ten list for most-watched non- English-language films. Over 8 million hours were viewed in its first week on Netflix, and it entered Netflix’s weekly top ten films in 41 territories. The Wildside film 7 Women and a Murder was the number one non-English language film globally over the Christmas period, generating 13 million hours of viewing and charting in 49 territories on Netflix. The Wonder from Element Pictures peaked as Netflix’s number three English- language film globally, charting in the top ten in 83 territories and generating 43 million hours of viewing while in the top ten. Entertainment American Idol returned for its fifth season on ABC and Hulu, and the 20th season overall. The season won an average total audience of 7.2 million viewers and an average total audience share of 10.4 per cent, making it ABC’s number one series of the 2021/22 season. Indian Idol launched its 11th series in September 2022, winning an average audience share of 2.4 per cent and performing 82 per cent above Sony TV’s primetime average audience share. In Sweden, season 18 of the local version of Idols on TV4 registered an average audience share of 27.2 per cent, consistently ranking as the number one show of the day in the commercial target group of viewers aged 15 to 64. Fremantle’s hit format Got Talent was the number three entertainment show on M6 in France for 2022, with an average audience share of 27.3 per cent in the commercial target group. In the US, season 17 of America’s Got Talent was the highest-rated summer show of 2022 and NBC’s number two entertainment show of the 2021/22 season, averaging 7.7 million viewers representing an audience share of 12.5 per cent. After an on-screen break of ten years, Canada's Got Talent launched on CityTV and scored an average total audience share of 7.1 per cent, while the 15th season of Britain’s Got Talent returned to UK screens on ITV. The Thames-produced show attracted an average total audience share of 34.0 per cent and a peak audience of 8.2 million viewers, making it the UK’s number one entertainment show in the first half of 2022. Established formats continued to perform well with Farmer Wants a Wife in the Netherlands – produced by Blue Circle – attracting an average total audience share of 48.6 per cent. In France, the show scored its highest ratings in five years, with an average audience share of 32.2 per cent in the commercial target group, up 66 per cent on the broadcaster’s primetime average. The Belgian show, Farmer Wants a Wife: Love is Blind, consistently ranked as the number one non-news show of the day on VTM, with an average total audience share of 20.1 per cent. In Germany, the 18th season of Farmer Wants a Wife scored an average audience share of 14 per cent in the commercial target group of viewers aged 14 to 59, consistently ranking as the non-news show of the day on RTL. Naked‘s new show Snowflake Mountain – which premiered on Netflix in June 2022 – entered the daily top three in the US, Canada and Iceland and the daily top ten in 29 countries in its first ten days on Netflix. 31 Adjusted for portfolio changes and at constant exchange rates. Further details can be found in Key performance indicators on page 58

Directors’ report 73 Fremantle (continued) Poland’s first season of the hit format The Masked Singer launched as TVN’s best overnight entertainment launch for four years. In the Netherlands, the fourth series of the format was consistently RTL 4’s number one show of the week and scored an average audience share of 35.8 per cent. In Norway, the third series finale achieved a staggering 81 per cent total audience share, nearly double NRK1’s primetime average. Fremantle continued to grow its entertainment business with streaming services. In 2022, it delivered two series of the English-language version of Too Hot to Handle. The third season was Netflix’s global number one unscripted show for two weeks with 73 million hours viewed, and season 4 was a top ten show in 71 territories. The second season of the format in Brazil remained in Brazil’s daily top ten shows for two weeks, while the second season of the Spanish original format Love Never Lies reached Netflix’s Spanish top ten, with over 5 million hours watched in its first week. Password made a comeback to US primetime in summer 2022, averaging 4.9 million viewers across its broadcast on NBC, up 58 per cent on NBC’s summer primetime average audience share. Password was also number one in the timeslot for every episode, and ranked as NBC’s number one game show of the season. Ufa’s Wer weiß denn sowas? (Who knows such things?) remained the best performing non-scripted format in German access primetime, with an average total audience share of 18.0 per cent. For the first time in Germany, Wer weiß denn sowas? delivered a 24-hour non-stop live quiz marathon – broadcast mainly on the Mediathek of the German public broadcaster ARD. Documentaries Original Production’s Phat Tuesdays three-part documentary launched on Amazon Prime in February 2022, reaching 2.1 million unique viewers and ranking in Amazon Prime's top ten TV shows in the US for three weeks. Lola Indigo, La niña, Fremantle Spain’s original documentary co-produced with Universal Music, launched in May 2022 and ranked in the top ten on Amazon Prime in Spain for 21 days, peaking at number two. In the UK, Naked’s documentary Ghislaine, Prince Andrew and the Paedophile, which was broadcast on ITV, reached an average audience share of 20.6 per cent, exceeding ITV’s primetime average share for total viewers and ranking number one in its timeslot. Planet Sex with Cara Delevingne launched on BBC Three as a boxset, with all episodes available on demand at the launch in December 2022. The series, produced by Naked and Cara Delevingne’s company Milkshake Productions, explores the unique human stories and ground-breaking research behind today’s biggest questions around human sexuality. In October 2022, the documentary series Kingdom of Dreams, made in collaboration with Misfits Entertainment, launched on Sky.

74 RTL Group Annual Report 2022 RTL Nederland’s streaming service, Videoland, recorded subscriber growth of 11.8 per cent to 1.221 million paying subscribers at the end of 2022 (end of 2021: 1.092 million). Videoland’s growth was largely thanks to the original series Sleepers and Mocro Maffia, the documentary about the Dutch singer André Hazes, the fifth season of The Handmaid’s Tale and the Dutch kickboxing live events of the Glory series, all of which are exclusive to Videoland in the Netherlands. In 2022, all users of Videoland were successfully migrated to the technical streaming platform provided by RTL Group’s streaming technology company, Bedrock. RTL 5’s primetime audience share was 4.7 per cent in the target group of viewers aged 25 to 54 (2021: 4.1 per cent). Men’s channel RTL 7 scored an average primetime audience share of 5.2 per cent among male viewers aged 25 to 54 (2021: 5.8 per cent). Women’s channel RTL 8 attracted an average primetime audience share of 3.8 per cent among female viewers aged 35 to 59 (2021: 3.8 per cent). RTL Z’s audience share in the demographic of the upper social status aged 25 to 59 decreased to 0.9 per cent (2021: 1.1 per cent). RTL Nederland Financial results In 2022, the Dutch net TV advertising market was estimated to be up by 8.7 per cent. RTL Nederland’s total revenue increased by 10.6 per cent to € 636 million (2021: € 575 million), mainly due to significantly higher TV advertising revenue. This resulted in an Adjusted EBITA of € 161 million, up 50.5 per cent year on year (2021: € 107 million). Audience ratings In 2022, RTL Nederland’s family of channels grew its combined primetime audience share in the target group of viewers aged 25 to 54 to 34.7 per cent (2021: 34.2 per cent), thanks to a strong audience performance of the main channel RTL 4. As a result, RTL Nederland increased its lead over the public broadcaster – which broadcast the Winter Olympics and the Fifa Football World Cup – to 5.5 percentage points (audience share 2022: 29.2 per cent) and remained ahead of its main commercial competitor, Talpa TV (audience share 2022: 19.8 per cent). RTL Nederland’s flagship channel, RTL 4, grew its average primetime audience share in the target group of shoppers aged 25 to 54 to 22.7 per cent (2021: 21.6 per cent). The channel continued to score very high audience shares in this target group with The Masked Singer (43.3 per cent), De Verraders (The Traitors) (37.2 per cent) and Kopen Zonder Kijken (Buying Blind) (34.0 per cent). De Verraders was developed by IDTV and RTL Creative Unit and has already been sold internationally to NBC in the US, BBC in the UK and M6 in France. Two other RTL Creative Unit productions, Ik Weet Er Alles Van (Ask me Anything) (27.5 per cent) and B&B Vol Liefde (B&B Full of Love) (24.4 per cent), scored even better ratings than the previous summer. The increase in audience share was also thanks to RTL 4’s current affairs programmes in early prime time with RTL Boulevard (32.0 per cent) and Editie NL (28.6 per cent). The main evening news show RTL Nieuws grew its average audience share in 2022 to 34.5 per cent (2021: 31.5 per cent).

Directors’ report 75 Other segments This segment mainly comprises the fully consolidated businesses RTL Hungary, RTL Group’s Luxembourgish activities, RTL Group’s digital video company, We Are Era, the streaming technology company Bedrock and both RTL Belgium and RTL Croatia until the time of their disposals. It also includes the investment accounted for using the equity method, Atresmedia, in Spain. Revenue split – Other segments Total revenue of other segments Thereof – RTL Belgium (until 31 March 2022) – RTL Hungary – RTL Croatia (until 1 June 2022) – Other including elimination 2022 € m 411 40 113 19 239 2021 € m 604 176 116 46 266 Per cent change (32.0) (77.3) (2.6) (58.7) (10.2) The Hungarian net TV advertising market was estimated to be up by 3.6 per cent in 2022 with RTL Hungary performing in line with the market. Total revenue of RTL Hungary was slightly down by 2.6 per cent to € 113 million (2021: € 116 million), mainly due to foreign exchange rate effects partly offset by organic growth. Accordingly, the business unit’s Adjusted EBITA was stable at € 13 million (2021: € 13 million). With a combined primetime audience share of 28.932 per cent in the key demographic of 18 to 49-year-old viewers (2021: 30.5 per cent), the eight channels of the newly rebranded RTL Hungary were 0.3 percentage points behind the main commercial competitor TV2 Group with 14 channels. The Hungarian flagship channel RTL reached a primetime audience share of 15.0 per cent among viewers aged 18 to 49 (2021: 16.9 per cent) and remained the clear market leader, 1.1 percentage points ahead of TV2 (2021: 3.4 percentage points). The market-leading news programme, RTL Híradó, attracted 19.6 per cent of viewers aged 18 to 49 (2021: 20.0 per cent) while Hungary’s strongest TV infotainment brand, Fókusz (Focus), achieved an average audience share of 17.6 per cent in the commercial target group. The 11th season of The X Factor reached an average audience share of 32.0 per cent in the commercial target group. Even after 11 years, The X Factor is still the most- watched programme on RTL, with an exceptionally young audience: the average audience share among 15 to 29-year-old viewers was 48.4 per cent. In November 2022, RTL Hungary launched RTL+, a subscription-based, advertising-free streaming service. RTL Hungary’s previous advertising-funded streaming service, RTL Most, and the advertising and distribution- funded streaming service, RTL Most+, were integrated under the packages RTL+ Light and RTL+ Active. RTL+ and RTL+ Active had 0.251 million paying subscribers at the end of December 2022. The most-watched programmes were the exclusive RTL-produced series A Király (The King), daily series, and reality formats such as ValóVilág powered by Big Brother. In 2022, RTL Luxembourg confirmed its position as the leading media brand in Luxembourg. Combining its TV, radio, and digital activities (all three of which appear in the top-five media ranking in Luxembourg), the RTL Luxembourg media family achieved a daily reach of 79.2 per cent (2021: 82.1 per cent) of all Luxembourgers aged 15 and over. Remaining the number-one station listeners turn to for news and entertainment, RTL Radio Lëtzebuerg reached 152,600 listeners each weekday (2021: 164,600). RTL Télé Lëtzebuerg – the only general-interest TV channel broadcast in Luxembourgish – attracted 137,800 viewers each day (2021: 138,700) and achieved a primetime audience share of 48.1 per cent in the target group of Luxembourgish viewers aged 15 and over (2021: 48.0 per cent). Luxembourg’s most visited website, rtl.lu, had a daily reach of 48.0 per cent (2021: 52.4 per cent) of all Luxembourgers aged 15 and over. 32 RTL Hungary changed the publication of its audience figures from 2022 and is now using ‘Linear SHR’ audience share data, which is calculated without the ‘Other’ category of Nielsen

76 RTL Group Annual Report 2022 Other segments (continued) In February 2022, RTL Télé Lëtzebuerg broadcast the second season of the Luxembourgish hit crime series Capitani, which was watched by 44 per cent33 of all residents above the age of 16 either on RTL Télé Lëtzebuerg or on the streaming service RTL Play. RTL Play – the streaming service for audio and video content in Luxembourgish, French and English – recorded a total of 4.6 million plays during 2022. In July 2022, Luxair, the Luxembourgish Airline, launched its inflight entertainment platform in partnership with RTL Luxembourg, which allows passengers to access RTL Play and other content on their planes. In March 2022, RTL Luxembourg launched the web radio RTL Today Radio, Luxembourg’s only 24-hour English radio station. In July 2022, RTL Luxembourg created Luxembourg’s first podcast awards. In 2022, Broadcasting Center Europe (BCE) strengthened its position in broadcasting via its online video platform (OVP), with services for the European Capital of Culture, Esch 22, the French fashion weeks, sports federations, and other institutions. For France Televisions, BCE built a state-of-the-art broadcast van for live productions and enhanced Fedcom’s Euroleague and Eurocup basketball matches with decentralised production services. Thanks to key agreements, BCE further developed its cloud services such as cloud storage, remote voice-over and editing while increasing its datacenter portfolio. Following the development of the new cloud-based platform for Enex, BCE extended its customer portfolio with the European Broadcast Union, which manages the news distribution of European public broadcasters. In 2022, We Are Era further strengthened its leading positions in talent management and content production and expanded its direct sales and media solutions business. Successful productions included the RTL+ documentary Bolzplatzkönige – Mein Weg zum Profi (Kings of the Football Field – My Way to becoming a Pro), and content productions for the Google Brandcast and YouTube Works events. New clients included Der Spiegel and the Royal Belgian Football Association. In 2022, We Are Era successfully relaunched the VideoDays Festival for creators, brands and platforms. We Are Era’s revenue was up 3.2 per cent in 2022. The Spanish net TV advertising market decreased by an estimated 4.6 per cent in 2022. On a 100 per cent basis, consolidated revenue of Atresmedia was slightly down by 1.2 per cent to € 951 million (2021: € 963 million), while operating profit (EBITDA) remained stable at € 173 million (2021: € 173 million), and net profit was € 113 million (2021: € 118 million). The profit share of RTL Group was € 21 million (2021: € 22 million). The Atresmedia family of channels achieved a combined audience share of 26.4 per cent in the commercial target group of viewers aged 25 to 59 (2021: 27.4 per cent). The main channel, Antena 3, recorded an audience share of 11.5 per cent (2021: 12.2 per cent) in the commercial target group. For more information on investments in associates see note 6.5.2 to the consolidated financial statements in the RTL Group Annual Report 2022. 33 Ilres, 780 interviews 16+, May 2022

Directors’ report Non-financial information 77 Corporate responsibility (CR) RTL Group believes that CR adds value not only to the societies and communities it serves, but also to the Group and its businesses. Acting responsibly and sustainably enhances the Group’s ability to remain successful in the future. CR is integral to the Group’s strategy. The core RTL brand was repositioned in 2021 with a new identity, a clear set of brand principles and a new design reflecting the diversity at RTL. With this, RTL has been strengthened as Europe’s leading entertainment brand that stands for entertainment and independent journalism, as well as inspiration, energy and attitude. ‘We act responsibly’ is one of eight defined brand principles that guide the company’s action and define what RTL stands for. At the heart of RTL’s guiding principles and values is a commitment to embracing independence and diversity in its people, content and businesses. In November 2022, the Corporate Sustainability Reporting Directive (CSRD) was adopted by the European Parliament. The new directive aims to significantly expand existing requirements for non-financial reporting. The reporting requirements of the CSRD will apply to RTL Group starting from the financial year 2024. This means RTL Group will again publish its own sustainability report from 2025 for the financial year 2024. The information of the Combined Non-Financial Statement (which complies with the current European Directive 2014/95/EU and provisions by the law of 23 July 2016 regarding the publication of non-financial and diversity information in Luxembourg) can be found in the annual report of RTL Group’s majority shareholder, Bertelsmann SE & Co KGaA. Further information on RTL Group’s non-financial information can also be found in the GRI reporting of Bertelsmann SE & Co KGaA on bertelsmann.com. The RTL CR Board unites executives from RTL Group and RTL Deutschland and was enlarged in 2022 following the combination of RTL Deutschland and Gruner + Jahr. The Board meets monthly to coordinate projects in key areas such as diversity, creative/editorial independence and climate protection, to develop new ideas and to ensure efficient use of expertise in both the Corporate Centre and RTL Deutschland. The CR Board also meets annually with participants from specialist departments within RTL Deutschland, such as Youth Protection, the association Stiftung RTL – Wir helfen Kindern, Communications, and RTL Group’s Human Resources, Investor Relations and Compliance departments. The RTL Group CR Network – created in March 2014 and consisting of CR representatives from the Group and its business units – meets annually to share best-practices and knowledge. In addition, RTL Group established a Climate Task Force, consisting of members from all business units who meet to discuss, collaborate and define actions to reduce carbon dioxide emissions, with the target of becoming climate-neutral by 2030. In May 2022, RTL Group’s largest business unit, RTL Deutschland, established a department for sustainability and diversity, equity & inclusion (DEI), with a direct reporting line to the unit’s Chief Executive Officer. RTL Group’s CR activities focus primarily on the following issues: content responsibility, creative/editorial independence and freedom of expression, intellectual property and copyright, fair working conditions, diversity, equity and inclusion (DEI), health, safety and wellbeing, learning (including digital media literacy) and climate change. These issues were identified in a materiality analysis in consultation with internal and external stakeholders. The core of the survey was the assessment of 19 CR topics – internally, according to their relevance for the business, and externally, according to their relevance for stakeholders. The survey was conducted in 2020 in close consultation with the Group’s majority shareholder Bertelsmann.

78 Relevance matrix Very high RTL Group Annual Report 2022 Creative/editorial independence & freedom of expression Content responsibility l s r e d o h e k a t s r o f e c n a v e l e R Climate change34 Fair working conditions Health & wellbeing Learning35 Diversity, equity & inclusion (DEI) Intellectual property & copyright Moderate Relevance for RTL Very high Creative/editorial independence RTL Group’s broadcasting and news reporting are founded on editorial and journalistic independence. RTL Group’s commitment to impartiality, responsibility and other core journalistic principles is articulated in its Newsroom Guidelines. Maintaining audience trust has become even more important in an era when news organisations and tech platforms have been accused of publishing misleading stories, and when individuals, radical political movements and even hostile powers post fake news on social networks to sow discord. For RTL Group, independence means being able to provide news and information without compromising its journalistic principles and balanced position. Local CEOs act as publishers and are not involved in producing content. In each news organisation, editors-in-chief apply rigorous ethical standards and ensure compliance with local guidelines, which gives the Group’s journalists the freedom to express a range of opinions, reflecting society’s diversity and supporting democracy. Employees RTL Group has a diverse audience and a business based on creativity, and the Group therefore needs to be a diverse organisation. In 2022, the Group had an average of 12,975 full-time employees (total headcount: 18,623 including permanent and temporary staff) in more than 26 countries worldwide. They range from producers and finance professionals to journalists and digital technology experts. RTL Group strives to be an employer of choice that attracts and retains the best talent, and equips employees with the necessary skills and competencies to successfully master the company’s current and future challenges. It does this by offering training programmes and individual coaching in a wide range of subjects, from strategy and leadership to digital skills and health, safety and wellbeing. It reviews and, if necessary, adjusts its training offers on an ongoing basis. 34 The different environmental topics have been pooled 35 Including digital media literacy

Directors’ report 79 RTL Group’s corporate culture is founded on creativity and entrepreneurship. The Group strives to ensure that all employees receive fair recognition, treatment and opportunities, and is committed to fair and gender-blind pay. The same applies to the remuneration of freelancers and temporary staff, ensuring that such employment relationships do not compromise or circumvent employee rights. The Group also strives to support flexible- working arrangements. The Covid-19 crisis has deeply changed the world of work. The balance between working in the office and remotely is a relevant step to continue offering flexibility and efficiency for those employees whose functions do not require office presence. Every two years, RTL conducts its employee survey. In 2021, RTL Group received a response rate of 81 per cent, corresponding to 7,795 respondents from 74 companies across 23 countries and in 11 languages (excluding temporary workers and Groupe M6). Compared to the 2019 survey, RTL Group achieved higher scores and only positive deviations, particularly for CR-related topics, communication from senior management, engagement, and supporting the company’s strategy. Since 2021, the employee survey includes a new CR Index, to help track the progress of RTL Group-wide CR initiatives. The next employee survey will be conducted in 2023. Employee survey 202136: CR Index at 73.5 % – Target: 80 % I am able to maintain a healthy work-life balance. 70 20 10 Employees have the same opportunities in my company, regardless of their gender. 75 16 9 +/– 0pp +7pp My supervisor treats me with respect. 94 +3pp 4 2 I have the resources (time, organisational, technical, etc.) that I need to develop new skills and continue learning new things. My company is committed to protecting the environment and climate. My company offers a work environment in which people from different backgrounds and cultures feel included and valued. 57 27 16 65 26 9 80 15 5 +2pp +14pp + 9pp Diversity RTL Group’s commitment to diversity is embedded in its processes and articulated in its corporate principles. The cornerstone is the RTL Group Diversity Statement that reinforces the company’s commitment to promoting diversity and ensuring equal opportunity. It sets guidelines and qualitative ambitions for the diversity of the Group’s people, content and businesses. RTL Group is committed to making every level of the organisation more diverse with regard to nationality, gender, age, ethnicity, religion and socio-economic background. The Group places a special emphasis on gender diversity. RTL Group’s workforce overall is balanced by gender (with 47 per cent men and 53 per cent women as at 31 December 2022) while women account for 36 per cent of top management positions (31 December 2021: 28 per cent), and 33 per cent of senior management positions (31 December 2021: 24 per cent). 36 Calculation based on the average of positive responses to six questions of the 2021 Employee Survey in the following categories: Health & wellbeing; Diversity, Equity & Inclusion; Fair working conditions; Learning; Climate change

80 RTL Group Annual Report 2022 Top management generally encompasses the members of the Executive Committee, the CEOs of the business units and their direct reports, members of the Management Boards, and the Executive Committee direct reports at RTL Group’s Corporate Centre. Senior management generally encompasses the Managing Directors of the businesses at each business unit, the heads of the business units’ departments and the Senior Vice Presidents of RTL Group’s Corporate Centre (unless classified as members of top management). RTL Group’s long-term ambition is for women and men to be represented equally at all levels. In 2022, RTL Group’s Executive Committee reviewed the Group’s objectives and set the following quantitative targets: to increase the share of women in top and senior management positions to at least one third by the end of 2022 and at least 40 per cent by the end of 2025. The Group reports on its progress towards these diversity targets each year. At the end of 2022, the ratio of women in top and senior management positions was 34 per cent, up 14 percentage points compared to 2016 when RTL Group reported those measures for the first time (2016: 20 per cent; 2021: 28 per cent). By achieving its 2022 target, RTL Group reached an important milestone on the way to ensuring at least 40 per cent of top and senior management positions are held by women by the end of 2025. The importance of diversity is also reflected in the content the Group produces. Millions of people who turn to RTL Group each day for the latest local, national and international news need a source they can trust. RTL Group therefore maintains a journalistic balance that reflects the diverse opinions of the societies it serves. The same commitment to diversity applies to the Group’s entertainment programming: it is essential for RTL Group to create formats for a wide range of audiences across all platforms. Content should represent the diversity of society, so many different segments of society can identify with it. In 2022, Fremantle continued to make progress towards building an equitable and inclusive culture across its business and content. During Pride month, for example, Ryan J Brown, writer and creator of Wreck, a six-part comedy horror series for the BBC, highlighted the importance of queer representation in TV with predominately LGBTIQ+ lead characters. Fremantle also continued its partnership with The TV Collective on the Breakthrough Leaders programme in the UK, supporting 150 black, Asian and minority-ethnic future leaders. In Sweden, Fremantle’s leadership team is participating in an external mentoring programme, All of Us, for young people of colour in the creative industries and supporting the WomenUp programme – which consists of 40 women and their mentors – to address the female leadership gap. In the US, a partnership with Fresh Films supports 400 young people from under-represented backgrounds based in 27 national locations nationwide. Inclusive casting and storylines across Fremantle show – two things continued to provide a platform for different voices and perspectives, influence authentic storytelling, and promote empathy and understanding. Heartbreak High was recognised for its diverse casting and nuanced storytelling, featuring young Australians who are from First Nations communities, queer, disabled and/or neurodivergent. The series Planet Sex, fronted by Cara Delevingne, had a predominantly female and non-binary crew, and was filmed across the world incorporating intersectional LGBTIQ+ communities with a global reach and outlook. In Germany, RTL Deutschland initiated its first diversity week to place LGBTIQ+ people at the centre of its content. RTL Deutschland’s diversity week created awareness on different platforms, including a marketing campaign with RTL testimonials from the queer community and special formats such as the RTL primetime show Viva la Diva – Wer ist die Queen? or a LGBTIQ+ print special in the educational magazine Geo Wissen. Furthermore, the German RTL+ original film Weil wir Champions sind (Because we are champions) – which tells the story of an inclusive basketball team – featured nine actors with disabilities. RTL Nederland focuses on diversity, equity and inclusion both on its linear channels and its streaming service Videoland. In 2022, RTL Nederland launched the first season of the drag entertainment show Make Up Your Mind and released the second and third seasons of the gay dating show Prince Charming on Videoland. Videoland original documentaries such as Nikki, De Wereld Van Eva and Tussen De Lakens Met Geraldine also focus on societal issues. Society As a leading media organisation and broadcaster, RTL Group has social responsibilities to the communities and audiences it serves. These responsibilities are particularly serious when it comes to children and young people. The Group complies fully with child-protection laws and ensures its programming is suitable for children – or broadcast when they are unlikely to be viewing. RTL Group also strives to give back to its communities by using its profile to raise awareness of, and funds for, important social issues, particularly those that might otherwise receive less coverage or funding. As part of this support, the Group provides free airtime worth several million Euro to charities and non-profit organisations to help them raise awareness of their cause, as well as donating significant amounts of money to numerous charitable initiatives and foundations. Finally, RTL Group’s flagship fundraising events (Télévie in Luxembourg, and RTL-Spendenmarathon in Germany) raised € 45,434,477 for charity in 2022 (2021: € 34,307,86937 still including Télévie in Belgium). 37 The total amount of donations for 2021 was restated

Directors’ report 81 Intellectual property and copyright RTL Group’s primary mission is to invest in high-quality entertainment programmes, fiction, drama, news and sports, and to attract new creative talent to help the Group contribute to a vibrant, creative, innovative and diverse media landscape. Strong intellectual property rights are the foundation of RTL Group’s business, and that of creators and rights-holders. RTL Group’s Code of Conduct and Information Security Policy set a high standard for the protection of intellectual property. All employees are expected to comply with copyright laws and licensing agreements and to put in place appropriate security practices (password protection, approved technology and licensed software) to protect intellectual property. Sharing, downloading or exchanging copyrighted files without appropriate permission is prohibited. Violations can be reported to the Compliance department via its reporting channels, which include a user-friendly speak-up system. Anti-corruption and anti-bribery The foundation for lasting business success is built on integrity and trustworthiness, and RTL Group has zero tolerance for any form of illegal or unethical conduct. Violating laws and regulations – including those relating to bribery and corruption – is not consistent with RTL Group’s values and could damage the Group. Non-compliance could harm the Group’s reputation, result in significant fines, endanger its business success and expose its people to criminal or civil prosecution. The Compliance department provides Group-wide support on anti-corruption, anti-bribery and other compliance- related matters. In addition to centralised management by the Compliance department, each business unit has a Compliance Responsible in charge of addressing compliance issues, including anti-corruption. For information about RTL Group’s Audit Committee see page 87. Representatives of RTL Group management sit on the RTL Group Corporate Compliance Committee. The committee, which is chaired by RTL Group’s Chief Financial Officer, is responsible for monitoring compliance activities, promoting ethical conduct and fighting corruption and bribery. It is kept informed about ongoing compliance cases and the measures taken to prevent compliance violations. The RTL Group Anti-Corruption and Integrity Policy is the Group’s principal policy for fighting corruption. It outlines rules and procedures for conducting business in accordance with anti-corruption laws and Group principles. RTL Group’s policies, including anti-corruption and integrity, anti-trust and compliance organisation, were updated and streamlined in 2022. The policies are split into ten categories, with a Business Process Owner for each category, who is the main contact for any questions regarding the respective policy. Human rights Respect for human rights is a vital part of RTL Group’s Code of Conduct, which includes a decision-making guide that clarifies how to comply with the company’s standards in case of doubt. The Group’s commitment to responsible and ethical business practices extends to its business partners. In 2017, RTL Group established the RTL Group Business Partner Principles, which sets minimum standards for responsible business relationships. To cover all centrally important aspects of human rights in one place, RTL Group published a specific Human Rights statement in 2022. The statement explicitly refers to the standards of the Universal Declaration of Human Rights and the United Nations’ Global Compact and applies to the entire Group. To report suspected human-rights violations or unethical practices, employees and third parties can contact RTL Group’s compliance reporting channels (directly or through a web-based reporting platform) or an independent ombudsperson. In all cases, they may do so anonymously. Environment RTL Group is a media company with no industrial operations and therefore does not consume significant amounts of raw materials or fossil fuel and is not a major polluter. The Group is mindful that resource conservation and climate protection are key challenges for the 21st century. For this reason – together with employees and stakeholders – RTL Group is committed to minimising its impact on the environment, by reducing its energy use and its direct and indirect greenhouse gas (GHG) emissions. It codified this commitment in February 2018 by issuing its Environmental Statement. RTL Group has measured and published its carbon footprint since 2008. Serving as the key indicator for evaluating and continually improving the Group’s climate performance, it was formerly calculated based on each country’s average energy mix. To improve data quality, since 2017 it has been calculated based on the emissions associated with the Group’s individual electricity supply contracts. This new, more detailed baseline takes into account hotel stays, refrigerant losses, commuting, IT devices and own and commissioned productions, as well as electricity consumption, paper, business travel, water and wastewater. At the start of 2020, RTL Group decided to become carbon neutral by 2030. It will reach this goal in two steps. By 2025, the Group will be carbon neutral with regards to company-related carbon dioxide emissions. Here, the focus will be on switching to green electricity, reducing business travel and offsetting the remaining emissions. By 2030, the Group will reach carbon neutrality, including both company-related emissions (scope 1 and 2) and emissions from the production of its programmes and products (scope 3).

82 RTL Group Annual Report 2022 As part of its aim to reduce carbon emissions, Fremantle collaborated with Bafta’s Albert to launch a carbon calculator and certification toolkit for the TV industry in January 2021. The toolkit is an authority on environmental sustainability, allowing carbon emissions caused by content productions to be calculated and, above all, provides a controlled way of reducing those emissions. Examples from 2022 include the Wildside films Siccità and L’immensità, both of which were Albert certified. In 2022, seven shows from RTL Nederland were certified sustainable or carbon neutral by Albert for the first time. Those formats include Love Island and Beat the Champions. In addition, more than 20 other shows were monitored by Albert. This is an essential step towards the decarbonisation of productions in the Netherlands. In November 2022, the channels and platforms of RTL Nederland raised awareness of plastic pollution during the campaign week RTL Samen Groener (RTL Greener Together). To reduce carbon emissions, RTL Deutschland has been striving for more sustainable TV productions since 2020. Since mid-2022, minimum ecological standards adopted throughout the industry by broadcasters and production companies in Germany have been applied to selected productions. RTL Deutschland aims to produce 50 per cent of its fictional content according to those standards. These standards are used to strive for environmentally and resource-friendly production methods. If the standards are met, the official ‘green motion’ label is awarded by the Green Shooting38 working group. In 2022, RTL Deutschland produced 13 productions in compliance with the standards, of which more than 30 per cent have been awarded the ‘green motion’ label. The German Fremantle production company, Ufa, was awarded the 'green motion’ label for its series Irgendwas mit Medien (Something with media) for the German public broadcaster MDR. Irgendwas mit Medien was produced using sustainable electricity, with minimal reliance on generators powered by diesel, and used sustainable transportation. For RTL Group’s environmental indicators according to GRI standards, please visit rtl.com. Innovation Innovation at RTL Group focuses on three core topics: continuously developing new, high-quality TV formats; using all digital distribution channels; and better monetisation of the Group’s audience reach using personalisation, recommendations and the addressing of target groups. In 2022, RTL Deutschland started the expansion of RTL+ into a cross-media entertainment service, comprising video, music, podcasts and audio, which is a unique selling proposition in the German-speaking market. The service's innovative recommendation algorithm, based on intelligent text, audio and video analysis, ensures that users are offered personalised content suggestions across all media types. RTL Group’s special creative unit, Format Creation Group (FC Group), continuously develops new non-scripted formats exclusively for RTL broadcasters and their streaming services. The unit aims to fulfil the growing demand for exclusive content by developing innovative formats and intellectual property, fully owned and controlled by RTL Group. In June 2022, M6 in France launched the successful FC Group format Who can beat us? – a general knowledge game pitting 100 candidates against six of the channel’s experts on their favourite topic. 38 The ‘Green Shooting’ working group, founded and led by MFG Filmförderung in 2017, is working on the transformation towards a more ecologically sustainable production method. The working group includes the production companies Bavaria Fiction, Constantin, Ufa, We Are Era and Ziegler Film, the broadcasters ARD, RTL Deutschland, ProSiebenSat1, Sky, SWR and ZDF, the streaming services Disney+ and Netflix and further industry associations Another innovative focus point is addressable TV advertising, which combines the broad reach of linear TV with targeted digital advertising. RTL Group continuously develops its advertising technologies or acquires the necessary technology in this area. In May 2022, RTL Group’s European ad-tech business Smartclip fully acquired the French ad-tech company Realytics, which systematically analyses the impact of TV advertising on advertiser websites and ensures data availability for digital ad decisioning. In December 2022, Smartclip and Ad Alliance launched addressable targeting complements for linear TV advertising with the new TV Add Ons. With this technology, dynamically tailored advertising banners can be integrated into existing TV spots and spot motifs can be completely exchanged – contact class-optimised, socio-demographically targeted or location-based. The Group’s advertising sales houses continue to introduce innovative and award-winning advertising formats. In Germany, Ad Alliance started a pilot project to introduce programmatic print advertising, allowing advertisers and agencies to book print advertising according to digital principles. In France, the advertising sales house M6 Publicité introduced 6Scan, a new augmented reality (AR) advertising format. The technology enables viewers of Groupe M6 TV channels to project the featured product in AR by scanning a QR code displayed on the screen. Potential buyers can see the product take shape in their current location – for example, a sofa would be projected directly into their living room.

Directors’ report 83 Significant litigations Provisions for litigations correspond to the Group’s best estimate of the expected future cash outflow related to disputes arising from the Group’s activities (see notes 6.5.2 and 6.14.1 to the consolidated financial statements in the RTL Group Annual Report 2022). RTL Group is party to legal proceedings in the normal course of its business, both as defendant and claimant. The main legal proceedings to which RTL Group is a party are disclosed below. Several subsidiaries of RTL Group are being sued by the broadcaster RTL 2 Fernsehen GmbH & Co KG and its sales house, El Cartel Media GmbH & Co KG, before the regional court in Düsseldorf, Germany, seeking disclosure of information to substantiate a possible claim for damages. The proceedings follow the imposition of a fine in 2007 by the German Federal Cartel Office for abuse of market dominance with regard to discount scheme agreements (share deals) granted by Ad Alliance GmbH (formerly IP Deutschland GmbH) and SevenOne Media GmbH to media agencies. The German Federal Cartel Office argued that these discounts would foreclose small broadcasters from the advertising market. In 2014, the district court of Düsseldorf decided to order an expert report. The expert concluded in February 2018 that the likelihood of damages cannot be proven with certainty. In July 2018, RTL 2 Fernsehen GmbH & Co KG filed a motion claiming that the expert was not impartial, with the aim of getting the court to obtain a new expert opinion. Ad Alliance GmbH has rejected the motion of lack of impartiality as unfounded. Due to his unexpected death in February 2020, the court expert could not submit his response to the allegation of impartiality. The court has announced that it would take a decision on the issue of impartiality in the upcoming weeks. The court case will continue. Similar proceedings from other small broadcasters, initiated in different courts, were unsuccessful or have been withdrawn. In June 2016, the main competitors of Fun Radio alleged that a host of the morning show had influenced Fun Radio’s results by encouraging his listeners to give favourable treatment to Fun Radio in the Médiamétrie surveys. In response to these allegations, Médiamétrie decided to remove Fun Radio from its surveys. Following a legal procedure initiated by Fun Radio, Médiamétrie was required to reinstate Fun Radio in the audience results surveys as of September 2016. Nevertheless, Médiamétrie decided to lower Fun Radio’s audience results in its published surveys, alleging the existence of a ‘halo effect’. Following a procedure initiated by Fun Radio, a judicial expert was appointed in December 2017 to examine Médiamétrie’s assessment of the alleged ‘halo effect’. In September 2019, the judicial expert issued his final report which confirmed the ‘halo effect’ but assessed that Fun Radio’s results were over-corrected. As of September 2017, Médiamétrie has again published the full audience results for Fun Radio. In parallel to the above procedure, the main competitors of Fun Radio also filed, in December 2016, a claim for damages, claiming unfair competition, but this procedure was suspended until the end of the judicial expertise. In the meantime, four of the six claimants withdrew their claim from the proceedings. On 23 January 2023, the Court decided to award damages for unfair competition. Fun Radio appealed the Court’s decision on 26 January 2023 and is confident to achieve a favourable decision before the Court of appeal. In November 2019, the Spanish Competition Authority (CNMC) arrived at a decision in disciplinary proceedings imposing a fine on Atresmedia and Mediaset and barring both operators from specified courses of conduct. The parties were ordered to take steps to align their commercial and contractual relations to the requirements of the decision. The fine imposed on Atresmedia amounts to € 38.2 million. In 2020, Atresmedia challenged the decision by filing an application for judicial review with the Administrative Chamber of the Audiencia Nacional, Spain’s national court. The application was found admissible. Consequently, Atresmedia will proceed with an appeal in the aforementioned court. The directors and legal advisors of Atresmedia believe that the application for judicial review against the CNMC’s decision is likely to succeed. No further information is disclosed as it may harm the Group’s position.

84 RTL Group Annual Report 2022 Corporate governance Principal risks and uncertainties Principal risks and uncertainties are disclosed in note 7 to the consolidated financial statements for the risks linked to financial instruments, and in the Corporate Governance section on rtl.com for the external and market risks. Corporate governance statement The RTL Group Board of Directors is committed to high standards of corporate governance. RTL Group has applied the principles of good governance for years, even before the Ten Principles of Corporate Governance were implemented by the Luxembourg Stock Exchange – principles that RTL Group is in line with and submitted to. Shareholders More information on this topic can be found in the Investor Relations section on rtl.com, which contains RTL Group’s corporate governance charter, and regularly updated information, such as the latest version of the company’s governance documents (including articles of incorporation, statutory accounts, and minutes of shareholders’ meetings), and information on the composition and mission of the RTL Group Board of Directors and its committees. The Investors section also contains the financial calendar and other information that may be of interest to shareholders. RTL Group’s current share capital is set at € 191,845,074, divided into 154,742,806 fully paid-up shares with no par value. As at 31 December 2022, Bertelsmann held 76.28 per cent of RTL Group shares, and 23.72 per cent were publicly traded. General Meetings of Shareholders will be held at the registered office or any other place in Luxembourg indicated in the convening notice. Due to the Covid-19 pandemic, and in accordance with the Grand Ducal Regulation, RTL Group held its Annual General Meeting of Shareholders on 27 April 2022 remotely, via a live webcast. A General Meeting of Shareholders must be convened on the request of one or more shareholders who together represent at least one tenth of the company’s capital, and the Annual General Meeting of Shareholders is held within six months following the end of the financial year at the place and on the date set by the Board of Directors. Resolutions will be adopted by the simple majority of valid votes, excluding abstentions. Any resolution amending the Articles of Incorporation will be adopted by a majority of two thirds of the votes of all the shares present or represented. The Annual General Meeting will examine the reports of the Board of Directors and the auditor and, if thought fit, will approve the annual accounts. The meeting will also determine the allocation of profit and decide on the discharge of the directors and the auditor from any duties.

Directors’ report 85 Board and management Board of Directors The Board of Directors has the most extensive powers to take, in the interests of the company, all acts of administration and of disposal, that are not reserved by law or the Article of Incorporation to the General Meeting of Shareholders. On 31 December 2022 the Board of RTL Group had 11 members: two executive directors and nine non-executive directors. At the term of James Singh’s mandate, at the Annual General Meeting (AGM) on 27 April 2022, RTL Group’s Board of Directors Jean-Louis Schiltz succeeded James Singh as Vice-Chair of the Board of Directors. Among the non-executive directors, Pernille Erenbjerg, Jean-Louis Schiltz, Martin Taylor and Lauren Zalaznick are independent of management and other outside interests that might interfere with their independent judgement. Martin Taylor39 Chairman of the Board of Directors Jean-Louis Schiltz39,40 Vice-Chairman of the Board of Directors Executive Directors Non-Executive Directors Thomas Rabe CEO RTL Group Elmar Heggen COO and Deputy CEO RTL Group Guillaume de Posch Pernille Erenbjerg39 Thomas Götz Rolf Hellermann Immanuel Hermreck Jean-Louis Schiltz39,41 Bettina Wulf Lauren Zalaznick39 Martin Taylor was appointed under the criteria of independence of the London Stock Exchange, before RTL Group adopted the Ten Principles of the Luxembourg Stock Exchange. Pernille Erenbjerg, Jean-Louis Schiltz and Lauren Zalaznick are independent directors, and all meet the current criteria of independence of the Ten Principles of the Luxembourg Stock Exchange. The Board of Directors has to review, with expert help if requested, that any transaction between RTL Group or any of its subsidiaries on the one hand, and any of the shareholders or any of their respective subsidiaries on the other hand, is on arm’s-length terms. The responsibility for day-to-day management of the company is delegated to the Chief Executive Officer (CEO). The Board of Directors has a number of responsibilities, which include approving the Group’s annual budget, overseeing significant acquisitions and disposals, and managing the Group’s financial statements. The Board of Directors met five times in person or online in 2022 – with an average attendance rate of 100 per cent – and adopted some decisions by circular resolution. An evaluation process of the Board of Directors’ activities, and the activities of its committees, was performed in 2022. 39 Independent Director 40 With effect from 27 April 2022 41 Until 27 April 2022

86 RTL Group Annual Report 2022 Individual attendance of the members of the RTL Group Board of Directors Martin Taylor (Chairman) Guillaume de Posch Pernille Erenbjerg Thomas Götz Elmar Heggen Rolf Hellermann Immanuel Hermreck Thomas Rabe Jean-Louis Schiltz James Singh Bettina Wulf Lauren Zalaznick Participation in meetings 5/5 5/5 5/5 5/5 5/5 5/5 5/5 5/5 5/5 1/1 5/5 5/5 Attendance 100 % 100 % 100 % 100 % 100 % 100 % 100 % 100 % 100 % 100 % 100 % 100 % The Executive Committee updates the Board on the Group’s activities and financial situation. At each meeting, representatives of the Executive Committee brief the Board on ongoing matters, and on possible upcoming investment or divestment decisions. In 2022, a total of € 1.3 million (2021: € 1.4 million) was allocated in the form of attendance fees to the non- executive members of the Board of Directors of RTL Group SA and the committees that emanate from it (see note 10.4 to the consolidated financial statements in the RTL Group Annual Report 2022). Neither options nor loans have been granted to Directors. Appropriate measures were taken by the company to ensure compliance with the provisions of the European market abuse regulation, and with the Circulars of the Commission de Surveillance du Secteur Financier (CSSF) concerning the application of this legislation. The following Board Committees are established: Nomination and Compensation Committee The CEO consults with the Nomination and Compensation Committee and shall obtain prior consent on the appointment and removal of executive directors. The Nomination and Compensation Committee makes a proposal to the General Meeting of Shareholders on the appointment and removal of the non-executive directors, and establishes the Group’s compensation policy. The Nomination and Compensation Committee comprises four non-executive directors, one of whom is an independent director (who also chairs the meetings) and meets at least twice a year. The committee’s plenary meetings are attended by the CEO, the COO/Deputy CEO and the Executive Vice President Human Resources. The Nomination and Compensation Committee may involve other persons to help the committee fulfil its tasks. The Chair of the Nomination and Compensation Committee reports on the discussions held and conclusions made by the committee to the subsequent Board of Directors meeting. The Nomination and Compensation Committee met four times in 2022, by telephone/video conference, with an average attendance rate of 100 per cent. Individual attendance of the members of the Nomination and Compensation Committee Martin Taylor (Chair) Thomas Götz Immanuel Hermreck Lauren Zalaznick Participation in meetings 4/4 4/4 4/4 4/4 Attendance 100 % 100 % 100 % 100 %

Directors’ report 87 Audit Committee The Audit Committee monitors the financial reporting process, the statutory audit of the legal and consolidated accounts, the independence of the external auditors, the effectiveness of the Group’s internal controls, the compliance programme, and the Group’s risks. The Audit Committee reviews the Group’s financial disclosures and submits a recommendation to the Board of Directors regarding the appointment of the Group’s external auditors. The Head of Internal Audit and the external auditors have direct access to the Chairman of the Audit Committee, who is an independent director. The Audit Committee is composed of at least four non-executive directors – two of whom are independent – and meets at least four times a year. Pernille Erenbjerg replaced James Singh as chairman from 27 April 2022. The committee’s meetings are attended by the CEO, the COO/Deputy CEO, the Chief Financial Officer (CFO), the Head of Internal Audit, the external auditors and other senior Group finance representatives. The Audit Committee may invite other persons whose collaboration is deemed to be advantageous in helping the committee fulfil its tasks. Twice a year, the Head of Compliance is invited to provide an update on the compliance programme and to report on the compliance cases raised in the period under review, as well as on their remediation. The Audit Committee met five times in 2022 in person or online, with an average attendance rate of 96.2 per cent. The Chairman of the Audit Committee reports on the discussions held and conclusions taken by the Audit Committee to the subsequent Board of Directors meeting. Individual attendance of the members of the Audit Committee James Singh (Chairman until 27 April 2022) Pernille Erenbjerg (Chairman as of 27 April 2022) Rolf Hellermann Martin Taylor Jean-Louis Schiltz Thomas Götz Participation in meetings 1/1 4/5 5/5 5/5 5/5 5/5 Attendance 100 % 80 % 100 % 100 % 100 % 100 % The Committee assists the Board of Directors in its responsibility with respect to overseeing the Group’s financial reporting, risk management and internal control, and standards of business conduct and compliance. CEO Responsibility for the day-to-day management of the company rests with the CEO, who – on a regular basis and upon request of the Board – informs the Board of Directors about the status and development of the Group. The CEO is responsible for proposing the annual budget, to be approved by the Board of Directors. He is also responsible for determining the ordinary course of the business. Executive Committee The Executive Committee comprises the two executive directors – the CEO and the COO/Deputy CEO – and the CFO. The Executive Committee is vested with internal management authority. In 2022, a total of € 7.8 million (2021: € 8.6 million) was allocated in the form of salaries, non-cash benefits and a post-employment benefit plan to the members of the Executive Committee (see note 10.3 to the consolidated financial statements of the RTL Group Annual Report 2022). External auditor In accordance with the Luxembourg law on commercial companies, the Company’s annual accounts and consolidated financial statements are certified by an external auditor, appointed at the Annual General Meeting of Shareholders. On 27 April 2022, the shareholders appointed KPMG Luxembourg, Société Anonyme as statutory auditor for a term of one year, expiring at the end of the Ordinary General Meeting of Shareholders ruling on the 2022 accounts. Dealing in shares The company’s shares are listed on the Frankfurt and Luxembourg Stock Exchanges. Applicable German and Luxembourg insider dealing, and market manipulation laws prevent anyone with material non-public information about a company from dealing in its shares and from committing market manipulations. A detailed Dealing Code contains restrictions on dealings by directors and certain employees of RTL Group and its subsidiaries, or associated companies. Restrictions apply to: – members of the Board of Directors – all employees of RTL Group SA, and directors and employees of any subsidiary or affiliated company of RTL Group who, because of their position or activities, may have access to unpublished price- sensitive information.

88 Code of Conduct RTL Group Annual Report 2022 Basic guidelines for responsible behaviour and for conducting business at RTL Group are governed by the Code of Conduct, which outlines binding minimum standards for behaviour towards business partners and the public, and for behaviour within the company. The Group updated its Code of Conduct and adapted it to developments in 2021, including a new, user-friendly speak-up system available in multiple languages, both online and via phone. The Group has a training programme in place to ensure all employees are fully aware of the code and its principles. The Code of Conduct is available under the Compliance section on rtl.com. Internal controls over financial reporting RTL Group’s Internal Control System (ICS) over financial reporting aims to provide reasonable assurance on the reliability of external and internal financial reporting, and its conformity with the applicable laws and regulations. It helps to ensure that financial reporting presents a true and fair picture of the Group’s net assets, financial position and operational results. The ICS for the accounting process consists of the following areas: Standards and rules The rules governing the Group’s financial reporting environment and critical accounting policies are set out in the Group’s internal rules for accounting and the preparation of financial statements (such as IFRS manuals, guidelines and circulars), which are immediately available to all employees involved in the accounting process. Standards of a minimum control framework for key accounting processes at the level of RTL Group’s fully consolidated subsidiaries are formalised in a set of expected key controls. RTL Group’s centralised treasury and corporate finance activities are governed by dedicated policies and procedures. Hedging of exposure in non-Euro currencies is governed by a strict policy. All internal and external financial reporting processes are organised through a centrally managed reporting calendar. The Code of Conduct requires the Group’s companies to manage record-keeping and financial reporting with integrity and transparency. Systems and related controls Locally used (ERP, treasury applications) finance systems are largely centrally monitored through a few common system platforms to ensure a consistent set-up of system- embedded controls. Segregation of duties, access rights and approval limits are regularly reviewed by the local data owners for all reporting units whose finance systems are centrally maintained. Internal and external financial reporting is transmitted through a centrally managed integrated finance system – from budgeting and trend year analysis, monthly internal management reporting, and forecasting of financial and operational KPIs, to consolidation and external financial reporting, and finally risk management reporting (see Risk management on pages 90 to 94). Extensive automatic system controls ensure the consistency of the data in the financial statements. The centrally managed integrated finance system is subject to ongoing development through a documented change process. Systemised processes for coordinating intercompany transactions serve to prepare the corresponding consolidation steps. Circumstances that could lead to significant misinformation in the consolidated financial statements or internal management reporting are monitored centrally and verified by external experts as required. Specific system-embedded controls support the consolidation process, including the reconciliation of intercompany transactions. IT General Controls (ITGCs) are regularly assessed by external experts or Internal Audit. Control objectives are defined for all RTL Group central applications and interfaces (the referenced applications) and their related IT infrastructure. The description of the control environment and the effectiveness of these controls are subject to an annual SOC1 ISAE3402 third-party assurance report. The Group’s consolidation scope is constantly updated, both at the level of financial interests captured in the consolidation system, and at the level of legal information through a dedicated legal scope system.

Directors’ report 89 Analytics and reporting All internal and external local and consolidated financial reporting is systematically reviewed by local finance staff or by finance teams within the Corporate Centre. Typical analyses include comparisons with previous years, budget and forecast, financial and operational KPIs, flows of key captions on the income statement, statement of the financial position, changes in equity, and cash flow statement. The finance teams of the Corporate Centre and business units are also integrated into the internal management reporting. Internal and external reporting are reconciled during the segment reconciliation process. Regular communication between RTL Group’s operations and the Corporate Centre’s finance departments ensures that any issue that could affect the Group’s financial reporting is immediately flagged and resolved. Both the Group as a whole and the individual business units are in continuous contact with subsidiaries to ensure IFRS- compliant accounting as well as compliance with reporting deadlines and obligations. Full-year and half-year reporting to the financial market is reviewed by the Audit Committee and approved by the Board of Directors. Q1 and Q3 quarterly statements are approved by the Audit Committee upon delegation by the Board of Directors. Transparency RTL Group’s policy on the reporting of significant compliance incidents requires business units to immediately report fraud or other significant compliance incidents to the Group. Identified control weaknesses that could affect the reliability of financial reporting – reported by either external auditors or Internal Audit – are brought to the attention of management and the Audit Committee, and are part of a follow-up process. Each year, the business units self-assess the maturity level of their local internal controls over financial reporting. Results of this self-assessment are reviewed by the Risk Management team and reported to the Audit Committee. At each meeting the Audit Committee is updated on the key accounting, tax and legal issues within the Group. The Corporate Centre constantly promotes the importance of sound internal controls – not only over financial reporting, but also for operational processes – through dedicated workshops with RTL Group’s business units, and the work of the Internal Audit department. Like the Risk Management System, each ICS cannot guarantee with absolute certainty that significant misinformation in the accounting process can be prevented or identified.

RTL Group Annual Report 2022 90 Risk management Risk matrix Type of risk Description and areas of impact Mitigation activities External and market risk Change in market environment Digitisation has significantly transformed the TV market, offering various ways of reaching viewers. Higher competition for audience attention and programme acquisitions as well as accelerated audience fragmentation due to streaming services, new channels, and expansion of platform operators may affect RTL Group’s position. RTL Group embraces new digital opportunities by ensuring its channels and stations are platform-neutral (that is, available on the widest possible choice) and by developing families of channels and streaming services, based on its leading brands. The advertising landscape for streaming services has evolved. To drive growth and revenue as households become more cost-conscious, platforms such as Disney and Netflix introduced ad-funded programming in exchange for cheaper subscriptions and increased costs of content licensing and production to offer exclusives. By forming alliances and partnerships, RTL Group aims to counteract the dominance of global tech platforms. Examples include RTL Ad Alliance (combining RTL AdConnect, G+J iMS and the media division of Smartclip). RTL Group’s European ad-tech business, Smartclip, fully acquired the French ad-tech company Realytics, complementing the Group’s ad-tech stack. This could increase competition within the advertising markets, especially for RTL Group’s hybrid streaming services. The production business also shows a consolidation trend as increasing demand for talent – such as authors, scriptwriters, showrunners, actors – leads large production businesses to merge or acquire smaller production companies. Cyclical development of economy The cyclical development of the economy is highly correlated with the development of the advertising markets and therefore impacts RTL Group’s revenue. 2022 has seen a significant deterioration of macroeconomic conditions, mainly due to growing economic uncertainties from the war in Ukraine, increasing inflation and supply chain issues. Legal Local and European regulations are subject to change. Some changes could alter businesses and revenue streams (for example, a ban on certain types of advertisements, opening of markets, deregulation of markets, cancellation of restrictions, limitation of advertising minutes, data protection). In TV advertising, RTL Group expands its addressable TV offerings, which connect precise, data-driven targeting with premium content in a brand-safe environment, delivered via traditional linear TV. Thereby, addressable TV offers the opportunity to compensate for potential future declines of classic TV advertising revenues. RTL Group intends to secure or improve its share in the resulting total TV advertising market. Within its global content business, Fremantle, RTL Group established a buy-and-build strategy – next to organic growth – to expand its global content business and to gain market share. Continuous monitoring of market conditions, scenario planning and strict cost control allow RTL Group to react to economic downturns. RTL Group tries to diversify its revenue base by introducing new products and services that generate non-advertising revenue. RTL Group aims to anticipate any changes in legislation and to act accordingly by developing and exploiting new revenue sources. Integrity and compliance risks These are risks arising due to non-compliance with regulations. Unethical acts, illegal or non-compliant behaviour (such as violations of applicable local, national, and international laws and regulations, corporate policies and contract requirements) may cause legal consequences and result in financial or reputational damage. RTL Group has established a compliance organisation and a compliance programme that highlights the importance RTL Group attaches to issues of compliance with the law and social responsibility. RTL Group provides support in complying with laws, regulations and corporate policies, promotes an ethical culture and strengthens trusting relationships with its business partners.

Directors’ report 91 Type of risk Description and areas of impact Mitigation activities Risks in key business Poor strategic decisions Strategic decisions are associated with risks. The resource allocation based on the strategic direction could become disadvantageous to RTL Group’s revenue and ultimately lead to a potential loss of revenue. This particularly relates to portfolio changes if acquired assets do not perform in line with assumed business plans and an impairment of goodwill may be triggered. Audience share and market share performance A decrease in audience and/or market share may have a negative impact on RTL Group’s revenue. Customers Bad debts or loss of customers may negatively affect RTL Group’s profits. Investment policies are followed, underpinned by realistic and prudent business planning. Approval procedures are followed to ensure relevant risk assessment and management sign-off. A regular review of strategic options is undertaken. New talents and formats are developed or acquired. Performance of existing shows is under constant review with the aim of improving audience share performance and hence future revenue. RTL Group’s strategy is to extend and enhance the diversity and quality of its programmes – especially on its streaming services – to create national cross-media champions. Budget processes on subscriber revenue undergo ongoing maturation. Credit analysis of all new advertisers is systematically undertaken. Depending on the customer’s creditworthiness, insurance may be used. This risk is also mitigated by broadening the advertiser base. Suppliers The supply of certain types of content and materials (such as paper) is limited and may lead to further cost increases. There may also be a strong reliance on key suppliers. Strong competition may lead to increased costs and/or the loss of profitable programmes. The Group aims to diversify its sources of supply wherever possible, partly by producing content in-house. RTL Group benchmarks purchasing terms and conditions to identify best practices with the aim of reducing costs by, for example, joint purchasing. Inventories There is a risk of over-accumulation of stock that could become obsolete. This may lead to write-offs or impairments. RTL Group has strict commercial policies, very close follow-up of existing inventories, and strict criteria for approval of investment proposals for rights. Pricing/discounting There is potential price erosion either at broadcaster level or at production level, or in the digital environment, where competition could impact margin levels. IT infrastructure Potential vulnerabilities within RTL Group operation systems and infrastructure may compromise business activities. RTL Group aims to satisfy customer needs by providing unique, tailored proposals that are possible due to alliances and the company’s unique network position as well as the evolution of the business model. RTL Group entities use approved processes to continually monitor IT infrastructure and to update operation systems, if necessary, in line with the Group’s IT policies. Financial risks Foreign exchange exposure The operating margin and programme costs are affected by foreign exchange volatility, especially if there is a strong increase of the USD against the EUR (such as feature films, sports and distribution rights and scripted programmes). RTL Group has in place a strict policy regarding foreign exchange management, which is monitored and followed up by Group Treasury, using hedging instruments and applying hedge accounting principles to mitigate volatility on the income statement. By their nature, media businesses are exposed to risk. Television, radio channels and streaming services can lose audiences as new competitive threats emerge, with consequent loss of revenue. Broadcasters, streaming services and producers are exposed to legal risks, such as litigation by aggrieved individuals or organisations, and advertising businesses are more exposed than most to economic cycles. RTL Group’s international presence exposes it to further risks, such as adverse currency movements. RTL Group defines its risk management as a continuous process at both business unit and Group level to prevent, protect, mitigate and leverage risks when executing RTL Group’s strategy. RTL Group’s risk management system has been designed to align fully with international risk management standards (such as the COSO framework). RTL Group’s robust risk management processes are designed to ensure that risks are identified, monitored and controlled, and its risk management system is based on a specific policy and a clear set of procedures. Policies and procedures are reviewed on a regular basis by the Internal Audit department and/or external consulting companies. Risk management and risk reporting are coordinated by the Head of Enterprise Risk Management (ERM), and reporting is reviewed by Internal Audit. RTL Group’s risk management process is designed to meet the following main objectives: – Embedded culture: promote and embed a common risk management culture in the daily work of all RTL Group employees. – Consistent policy: develop consistent risk policies on key matters, to be tailored and implemented at business unit level with consideration for local challenges and environment.

92 RTL Group Annual Report 2022 – Harmonised response: ensure harmonised risk management prevention, detection and mitigation measures across RTL Group and its business units against key risks, as well as a continuous related monitoring and improvement programme. The risk management organisation is the combination of structures and relationships (see diagram below) which enables a proper risk governance environment. RTL Group’s risk management governance model has a strong vertical component – from the Board of Directors and Executive Committee to the Audit and Risk Management Committees, to the executive responsible (CEO, CFO and Head of ERM), down to all levels of the dedicated risk management functions, including local entities. This backbone is enabled by related control functions carried out by Group Risk Management and Internal Control, the Legal and Regulatory, Compliance, Business Development, Controlling and Investments, Communications and Investor Relations, Treasury, Insurance, Group Financial Reporting, Tax, IT, Human Resources and Sales and Commercial departments. Independent monitoring is also carried out by Internal Audit and External Audit. The Board of Directors is responsible for ensuring RTL Group maintains a sound system of internal controls, including financial, operational and compliance risks. The internal control system is designed to provide reasonable assurance regarding the achievement of objectives in the following categories: – Effectiveness and efficiency of operations, and the optimal use of the Group’s resources – Integrity and reliability of financial and operational information – Reliability of financial reporting – Proper identification, assessment, mitigation and reporting of material risks – Compliance with applicable laws, regulations, standards and contracts. Enabler Responsible Independent Monitoring – Legal & Regulatory – Compliance – Controlling & Investments – Communications & Marketing – Treasury – Insurance – Financial Reporting – Tax – IT – Human Resources – Sales & Commercial – Investor Relations – Business Development Board of Directors Chief Executive Officer Chief Financial Officer Risk Management Committee Head of Enterprise Risk Management Risk Management Team Audit Committee Internal Audit External Audit Local Risk Coordinator Local Risk Coordinator Local Risk Coordinator The Risk Management Committee is composed of the following permanent members: – RTL Group Chief Financial Officer – RTL Group Senior Vice President Internal Audit – RTL Group Senior Vice President Compliance – RTL Group Senior Vice President Treasury and Enterprise Risk Management – RTL Group Senior Vice President Controlling and Investments – RTL Group General Counsel – RTL Group Senior Vice President Group IT – RTL Group Senior Vice President Financial Reporting – Media Assurances’ Chief Executive Officer – Additional guests may be invited to participate in Risk Management Committee meetings as subject matter experts, based on the topics to be addressed.

Directors’ report 93 Definition of risk A risk is defined as a potential future development or event that can negatively affect the achievement of the Group’s strategic, operational, reporting-related and compliance-related objectives. Risk classification Priority Type of risk Low (<€ 50million) Moderate (<€ 100 million) Significant (<€ 250 million) Considerable (<€ 500 million) Endangering (>€ 500 million) Risk classification (potential financial loss in three-year period) 1 2 3 4 5 6 7 8 9 Changes in market environment Cyclical development of economy Audience and market share Supplier risks Legal risks Customer risks IT and infrastructure Pricing/discounting Risks without cash impact 10 Integrity & Compliance Risk reporting framework RTL Group has developed a framework for reporting risks, in line with good corporate practice. This framework is based on several key principles: – Comprehensive scope of risk assessment: risks are assessed within a framework of defined key risk categories. Regular risk assessments include a description of the risk, an indication of the potential financial impact, and steps taken to mitigate the risk. These steps are performed throughout RTL Group, consolidated by the Head of Enterprise Risk Management and ultimately summarised in a dedicated risk management report. Results are presented to the Audit Committee. – Regular and consistent reporting: RTL Group’s system of internal controls ensures that risks are addressed, reported and mitigated when they arise. All significant risks are comprehensively assessed within the risk- reporting framework and reported to RTL Group management twice a year. This ensures that necessary actions are undertaken to manage, mitigate or offset risks within the Group. The risks are reported using a common reporting tool to ensure consistency in scope and approach. – Bottom-up approach: RTL Group assesses risks where they arise in its operations. All business units assess themselves according to the three parts of the risk management report: – Risk Management System: risk assessment and quantification of residual risks if applicable – Internal Control System: self-assessment on internal controls in place – Information Security Management System: risk assessment and quantification of IT-related risks – Consolidated Group matrix: Group Risk Management and the Internal Control team aggregate a comprehensive view of significant risks for the Group by consolidating local risk assessments. A Risk Management Committee prepares and reviews this consolidated Group risk matrix. The committee also: – advises on the control and reporting process for any major risks, and recommends mitigation strategies to the Group CFO – monitors follow-up of risks and ensures mitigation measures have been taken – increases risk awareness within the Group – identifies potential optimisation opportunities in processes – Audit approach: both the process of local risk assessments and the consolidated Group risk matrices are regularly reviewed by Internal Audit. Risk management in the future RTL Group’s risk management framework is constantly challenged – at both operational and Group level – through the Risk Management Committee, to ensure it reflects the risk profile of the Group at any time. To ensure RTL Group’s Enterprise Risk Management process and reporting requirements are consistently implemented throughout the Group, it holds regular workshops to update staff and to introduce new tools available to assess risk.

94 RTL Group Annual Report 2022 As of the date of this report, management considers the overall risk position of the Group to be stable though there has been significant deterioration in macroeconomic conditions, reflected in lower economic sentiment and growth expectations, due to the war in Ukraine, inflation, energy supply and supply chain issues. Changes in the industry – in particular due to new technologies and increasing competition with US platforms – will continue to affect the Group. There are currently no risks that, individually or in combination with other risks, could have a material or lasting adverse effect on the revenue, earnings, financial position or performance of RTL Group over the projection period of three years. General Management Statement on Risk Evaluation RTL Group is committed to high risk management standards and applies principles endorsed by local and European regulations and expected by market authorities. Consequently, RTL Group has developed a risk management system integrated into an enterprise-wide process, as outlined in the previous section. RTL Group defines its risk management process as a continuous process at business unit and Group level to prevent, protect, mitigate and leverage risks considering the execution of the Group’s strategic objectives and values. RTL Group’s risk management strategy is a holistic and enterprise-wide process, aligned to the definition and execution of the Group’s strategy. RTL Group may have to make strategic decisions involving a new set of risks or reassessment of existing risks that need to be addressed within the risk management framework. Opportunity management Opportunity-management system An efficient opportunity-management system enables RTL Group to secure its success in the long term, and to exploit its potential in the best possible way. Opportunities are defined as future developments or events that could result in a positive change from either the Group’s outlook or from strategic objectives. RTL Group’s Risk Management System (RMS) is an important part of the company’s business processes and decisions. Significant opportunities are identified from profit-centre- level upward, during the Group’s annual strategy and planning process. This largely decentralised system is coordinated by central departments to identify opportunities for cooperation across the Group and within the business units. Experience is shared within divisions, and this collaborative approach is reinforced by regular senior management meetings. Opportunities The Group has strategic, financial and regulatory opportunities. These could result from a better-than- expected performance of streaming services and advertising technology; from higher demand for content; from a better-than-expected macro-economic development, leading to higher advertising market growth; from higher market shares resulting from programme successes; and from changes in the laws regulating the Group’s businesses, such as advertising. In addition, RTL Group’s strategy to form cross-media champions could create significant value through the synergy potential of RTL Deutschland and Gruner + Jahr, the international cross-media sales house, RTL Ad Alliance, and RTL Group’s Smartclip fully acquiring Realytics. RTL Group continues to develop its business model, to rethink its operational processes and to set the path for more open and agile collaboration across countries, departments and functions.

Directors’ report Luxembourg Law on Takeover Bids 95 The following disclosures are made in accordance with article 11 of the Luxembourg Law on Takeover Bids of 19 May 2006. a) Share capital structure RTL Group SA has issued one class of shares which is admitted to trading on the Frankfurt Stock Exchange and the Luxembourg Stock Exchange. No other securities have been issued. The issued share capital as at 31 December 2022 amounts to € 191,845,074 represented by 154,742,806 shares with no par value, each fully paid-up. b) Transfer restrictions At the date of this report, all RTL Group SA shares are freely transferable but shall be subject to the provisions of the applicable German and Luxembourg insider dealing and market manipulation laws, which prevent anyone who has material non-public information about a company from dealing in its shares and from committing market manipulations. A detailed Dealing Code contains restrictions on dealings by directors and certain employees of RTL Group SA and its subsidiaries. c) Major shareholding The shareholding structure of RTL Group SA as at 31 December 2022 is as follows: Bertelsmann Capital Holding GmbH held 76.28 per cent, and 23.72 per cent were publicly traded. d) Special control rights All the issued and outstanding shares of RTL Group SA have equal voting rights and no special control rights attached. e) Control system in employee share scheme RTL Group SA’s Board of Directors is not aware of any issue regarding section e) of article 11 of the Luxembourg Law on Takeover Bids of 19 May 2006. f) Voting rights Each share issued and outstanding in RTL Group SA represents one vote. The Articles of Association do not provide for any voting restrictions. In accordance with the Articles of Association, a record date for the admission to a general meeting is set and certificates for the shareholdings and proxies shall be received by RTL Group SA the 14th day before the relevant date at 24 hours (Luxembourg time). Additional provisions may apply under Luxembourg law. g) Shareholders’ agreement with transfer restrictions RTL Group SA’s Board of Directors has no information about any agreements between shareholders that may result in restrictions on the transfer of securities or voting rights. h) Appointment of Board members, amendments of the Articles of Association The appointment and replacement of Board members and amendments of the Articles of Association are governed by Luxembourg Law and the Articles of Association. The Articles of Association are published under the Investor Relations section on rtl.com. i) Powers of the Board of Directors The Board of Directors is vested with the broadest powers to manage the business of RTL Group SA. It may take all acts of administration and of disposal in the interests of RTL Group SA. The Board of Directors has set up several committees whose members are Directors. The responsibilities and functionalities of the Board of Directors and its committees are described in the Articles of Association and the Corporate Governance Charter, published under the Investor Relations section on rtl.com. The Company’s General Meeting held on 26 April 2019 renewed the authorisation granted at the Company General Meeting of 16 April 2014 to the Board of Directors, to acquire a total number of shares of the company not exceeding 150,000. This renewal of authorisation is valid for five years and the purchase price is fixed at a minimum of 90 per cent and a maximum of 110 per cent of the average closing price of the RTL Group share over the last five trading days preceding the acquisition. j) Significant agreements or essential business contracts The Board of Directors is not aware of any significant agreements to which RTL Group SA is party and which take effect, alter or terminate upon a change of control of RTL Group SA following a takeover bid. k) Agreements with Directors and employees The Executive Committee members are entitled to contractual severance payments in the case of dismissal, except in the case of dismissal for serious reasons.

96 RTL Group Annual Report 2022 Declaration of Conformity with recommendations C.10, D.3, D.9 and D.11 of the German Corporate Governance Code for use by foreign companies RTL Group SA is a public limited liability company under Luxembourg law. The German Corporate Governance Code (GCGC) does therefore not apply to RTL Group SA and RTL Group SA does not have to issue a Declaration of Conformity with the GCGC under section 161 of the German Stock Corporation Act (Aktiengesetz). Solely for purposes of section 4.1.1.1 of the Guide to the DAX Equity Indices of STOXX Ltd., RTL Group SA declares that it does not deviate from recommendations C.10 (with sole reference to its applicability to the Chair of the Audit Committee), D.3, D.9 and D.11 of the GCGC, in each case applied accordingly to a public limited liability company with a one-tier governance system under Luxembourg law. RTL Group’s Board of Directors or its audit committee arranges for RTL Group’s external auditors to inform it and note in the audit report if, during the performance of the audit, the external auditors identify any facts that indicate an inaccuracy in adhering to the recommendations in C.10, D.3, D.9 or D.11 of the GCGC in each case applied accordingly to a public limited liability company with a one-tier governance system under Luxembourg law. Luxembourg, 15 March 2023 The Board of Directors RTL Group SA

Directors’ report 97 Subsequent events In January 2023, Global Savings Group (GSG), an at equity investment held by Groupe M6, completed the acquisition of Pepper.com. This transaction resulted in a dilution of RTL Group's investment in GSG from 41.49 per cent at 31 December 2022 to 31.16 per cent. The preliminary impact on profit or loss in 2023 is currently under estimation and will be recognised under ‘Gain/(loss) from sale of subsidiaries, other investments and re-measurement to fair value of pre-existing interest in acquiree’ of the consolidated income statement for the year 2023. In February 2023, RTL Deutschland announced a reorganisation of its publishing business to focus on its core brands Stern, Geo, Capital, Stern Crime, Brigitte, Gala, Schöner Wohnen, Häuser, Couch, Eltern, Chefkoch, Geolino and Geolino Mini. Other brands will be sold or discontinued. During the reorganisation, costs will be reduced in all areas – especially in corporate functions, corporate IT, office space, publishing and editorial teams. Around 500 jobs will be reduced in Hamburg, while an additional 200 jobs will be transferred to new owners through the planned sale of titles. RTL Deutschland will invest € 80 million in its publishing business by 2025, € 30 million thereof in the expansion of the paid offer Stern+ with complementary content from Stern, Geo, Capital and Stern Crime. The potential synergies of the transaction (Adjusted EBITA run-rate impact) are estimated at around € 75 million per year, to be fully realised by 2025. At the time the consolidated financial statements were authorised for issue, the management has prepared its negotiations with relevant stakeholders – mainly with employee representatives – and expects the costs associated with the reorganisation to be in the high double-digit millions. In February 2023, RTL Group GmbH and Bertelsmann SE & Co KGaA entered into a shareholder loan agreement pursuant to which Bertelsmann makes available a revolving and swingline facility in the amount of up to € 600 million. The main terms of this facility are: – The interest rates for loans under the revolving and swingline facility are EURIBOR (floored at zero per cent) plus a margin of 0.40 per cent per annum, and ESTR (floored at zero per cent) plus a margin of 0.40 per cent per year, respectively. Additional utilisation fees of 0.075/0.15/0.30 per cent per year are computed for the utilisation of each subsequent tranche of € 200 million, with an upfront fee of 0.25 per cent and a commitment fee of 14 basis points calculated and payable on the undrawn amount of the total credit facility. In March 2023, RTL Group GmbH and Bertelsmann Business Support Sàrl entered into a shareholder loan agreement pursuant to which Bertelsmann makes available two term loan facilities in the amount of € 500 million. The main terms of these facilities are: – Term loan facility of € 200 million until 9 March 2026 bearing a fixed interest rate of 3.60 per cent per annum – Term loan facility of € 300 million until 7 March 2028 bearing a fixed interest rate of 3.57 per cent per annum – RTL Group GmbH has the right to early repay the loans subject to break costs. In March 2023, an amendment to the pledge agreement was signed between RTL Group SA, RTL Group GmbH, CLT-UFA SA, Bertelsmann SE & Co KgaA, Reinhard Mohn GmbH and Bertelsmann Business Support Sàrl granting RTL Group the pledge on all current repayment claims of Bertelsmann Business Support Sàrl against RTL Group GmbH under the new Term Loan Facilities of € 500 million.

98 Outlook RTL Group Annual Report 2022 The geopolitical and macroeconomic environment remains volatile and the impact on RTL Group’s businesses is hard to predict. On this basis and subject to the above: losses are expected at just below € 200 million (2022: € 233 million). Consequently, the Group expects its Adjusted EBITA before streaming start-up losses to be between € 1.2 and € 1.25 billion (2022: € 1,316 million). – RTL Group expects its revenue to increase to between – RTL Group’s dividend policy remains unchanged: € 7.3 and € 7.4 billion. – RTL Group expects its Adjusted EBITA for 2023 to be between € 1.0 and € 1.05 billion. Streaming start-up RTL Group plans to pay out at least 80 per cent of the adjusted full-year net result, resulting in an ordinary dividend paid in 2024 and 2025 (for the financial years 2023 and 2024) of approximately € 3.50 per share, based on current projections. Revenue Adjusted EBITA Streaming start-up losses Adjusted EBITA before streaming start-up losses 2022 2023e € 7,224m € 7.3bn to € 7.4bn € 1,083m € 1.0bn to € 1.05bn € 233m € 1,316m Just below € 0.2bn € 1.2bn to € 1.25bn Strategic targets for RTL Group’s streaming services42 2022 5.5m € 267m € 304m 2026e 10m € 1bn ~€ 600m Paying subscribers Streaming revenue Content spend per annum Profitability is expected by 202643. Fremantle: revenue target Fremantle targets full-year revenue of € 3 billion by 2025. To reach this goal and keep up with the increasing demand for content, RTL Group will invest significantly in Fremantle – both organically and via acquisitions – in all territories across drama and film, entertainment and factual shows and documentaries. 15 March 2023 The Board of Directors 42 RTL+ in Germany and Hungary and Videoland in the Netherlands 43 Total of Adjusted EBITA from RTL+, Videoland/RTL XL, Salto and Bedrock as consolidated on RTL Group level. The Adjusted EBITA of RTL+ in Germany and Hungary and Videoland/ RTL XL in the Netherlands includes synergies with TV channels at business unit level. For the definition of Adjusted EBITA please see Key performance indicators on pages 58 to 59

RTL Group Annual Report 2022 99 Management responsibility statement We, Thomas Rabe, Chief Executive Officer, Elmar Heggen, Chief Operating Officer and Deputy Chief Executive Officer, and Björn Bauer, Chief Financial Officer, confirm, to the best of our knowledge, that these 2022 consolidated financial statements which have been prepared in accordance with the International Financial Reporting Standards as adopted by the European Union, give a true and fair view of the assets, liabilities, financial position and profit or loss of RTL Group and the undertakings included in the consolidation taken as a whole, and that the Directors’ report includes a fair review of the development and performance of the business and the position of RTL Group and the undertakings included in the consolidation taken as a whole, together with a description of the principal risks and uncertainties that they face. Luxembourg, 15 March 2023 Thomas Rabe Chief Executive Officer Elmar Heggen Chief Operating Officer Deputy Chief Executive Officer Björn Bauer Chief Financial Officer

100

100 RTL Group Annual Report 2022 Consolidated income statement Revenue Other operating income Consumption of current programme rights Depreciation, amortisation and impairment Other operating expenses Impairment of goodwill and amortisation and impairment of fair value adjustments on acquisitions of subsidiaries Gain/(loss) from sale of subsidiaries, other investments and re-measurement to fair value of pre-existing interest in acquiree Profit from operating activities Share of results of investments accounted for using the equity method Impairment and reversals of investments accounted for using the equity method Earnings before interest and taxes (EBIT) Interest income Interest expense Other financial income Other financial expense Financial result Profit before tax Income tax expense Group profit Attributable to: RTL Group shareholders Non-controlling interests Earnings per share (in € ) – Basic – Diluted Notes 5.1 5.2 5.3 2022 € m 7,224 84 (2,894) (240) (3,257) 2021 € m 6,637 88 (2,512) (209) (3,055) (46) 107 978 14 (5) 987 5 (18) 6 (48) (55) 932 (166) 766 673 93 4.35 4.35 (19) 949 1,879 27 2 1,908 5 (18) 19 (33) (27) 1,881 (427) 1,454 1,301 153 8.41 8.41 4.3 6.5 6.5 5.4 5.4 5.5 5.5 5.6 5.7 5.7

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Consolidated financial statements Consolidated statement of comprehensive income Group profit Other comprehensive income (OCI): Items that will not be reclassified to profit or loss: Re-measurement of post-employment benefit obligations Income tax Equity instruments at FVOCI – change in fair value Income tax Share of other comprehensive income of investments accounted for using the equity method Income tax Items that may be reclassified subsequently to profit or loss: Foreign currency translation differences Effective portion of changes in fair value of cash flow hedges Income tax Recycling of cash flow hedge reserve Income tax Share of other comprehensive income of investments accounted for using the equity method Income tax Other comprehensive income/(loss), net of income tax Total comprehensive income Attributable to: RTL Group shareholders Non-controlling interests 101 2021 € m 1,454 18 (2) 16 1 – 1 – – – 17 33 14 (5) 9 – – – – – – 42 59 1,513 1,358 155 2022 € m 766 108 (29) 79 (5) 2 (3) 23 – 23 99 22 14 (2) 12 – – – 2 – 2 36 135 901 802 99 Notes 6.15 6.7 6.6 6.7 6.5 6.16.4 6.7 6.16.4 6.7

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102 RTL Group Annual Report 2022 Consolidated statement of financial position Notes 31 December 2022 € m Non-current assets Programme and other rights Goodwill Other intangible assets Property, plant and equipment Right-of-use assets Investments accounted for using the equity method Loans and other non-current assets Deferred tax assets Current assets Programme rights Other inventories Income tax receivable Accounts receivable and other current assets Cash and cash equivalents Assets held for sale Current liabilities Loans and bank overdrafts Lease liabilities Income tax payable Accounts payable and other liabilities Contract liabilities Provisions Liabilities related to assets held for sale Net current assets Non-current liabilities Loans Lease liabilities Accounts payable and other liabilities Contract liabilities Provisions Deferred tax liabilities Net assets Equity attributable to RTL Group shareholders Equity attributable to non-controlling interests Equity The figures from the previous year have been adjusted (see note 1.30). 6.1 6.1 6.2 6.1 6.3 6.4 6.5 6.6 6.7 6.8 6.9 6.10 6.11 6.12 6.12 6.13 5.1 6.14 6.11 6.12 6.12 6.13 5.1 6.14 6.7 6.16.8 6.16 73 3,327 571 272 342 376 113 318 5,392 1,579 18 51 2,503 589 4,740 – 547 85 24 2,312 596 111 3,675 – 1,065 138 300 508 5 218 75 1,244 5,213 4,422 791 5,213 31 December 2021 € m 74 3,010 525 264 283 366 117 322 4,961 1,298 15 24 3,502 547 5,386 196 49 59 41 2,762 449 131 3,491 113 1,978 635 273 372 2 276 77 1,635 5,304 4,538 766 5,304

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Consolidated financial statements 103 Consolidated statement of changes in equity Share capital € m 192 Currency translation reserve € m (181) Hedging reserve € m (7) Revaluation reserve € m 67 Reserves and retained earnings € m 3,635 Equity attributable to RTL Group shareholders € m 3,706 Equity attributable to non- controlling interests € m 647 Balance at 1 January 2021 Total comprehensive income: Group profit Other comprehensive income (OCI) Capital transactions with owners: Dividends Equity-settled transactions, net of tax Transactions on non-controlling interests without a change in control Transactions on non-controlling interests with a change in control Other changes Balance at 31 December 2021 Balance at 1 January 2022 Total comprehensive income: Group profit Other comprehensive income (OCI) Capital transactions with owners: Dividends Equity-settled transactions, net of tax Transactions on non-controlling interests without a change in control Transactions on non-controlling interests with a change in control Other changes Balance at 31 December 2022 – – – – – – – – – – 32 32 – – – – – – 192 (149) 192 (149) – – – – – – – – – – 2 3 23 – – – – – – 192 (126) – 9 9 – – – – 3 3 5 5 – 1 3 13 – – – – (7) (7) 11 The figures from the previous year have been adjusted (see note 1.30). Total equity € m 4,353 1,454 59 1,513 – 1 1 1,301 15 1,316 1,301 57 1,358 153 2 155 – – – – (464) 3 (464) 3 (100) 3 (564) 6 (60) (60) – – 10 51 (50) 51 – – 68 (8) (529) 4,422 (5) (526) 4,538 – (36) 766 (5) (562) 5,304 68 4,422 4,538 766 5,304 – 2 0 20 – – – – (1) (1) 87 673 7 3 746 673 1 2 9 802 (774) 3 (774) 3 (134) (134) – (5) (910) 4,258 – (13) (918) 4,422 93 6 99 (76) 3 (23) 21 1 (74) 791 766 135 901 (850) 6 (157) 21 (12) (992) 5,213

104

104 RTL Group Annual Report 2022 Consolidated cash flow statement Cash flows from operating activities Profit before tax Adjustments for: – Depreciation, amortisation and impairment – Impairment and reversals on other financial assets at amortised cost – Share-based payments expenses – Re-measurement of earn-out arrangements – Fair value measurement of investments – ( Gain)/loss from sale of subsidiaries, other investments and re-measurement to fair value of pre-existing interest in acquiree – Financial results including net interest expense and share of results of investments accounted for using the equity method Change of provisions Working capital changes Income tax paid Net cash from operating activities Cash flows from investing activities Acquisitions of: – Programme and other rights – Subsidiaries, net of cash acquired – Companies under common control, net of cash acquired – Other intangible and tangible assets – Other investments and financial assets Proceeds from the sale of intangible and tangible assets Disposal of other subsidiaries, net of cash disposed of Proceeds from the sale of investments accounted for using the equity method, other investments and financial assets Interest received Current deposits with shareholder and its subsidiaries Net cash from/(used in) investing activities Cash flows from financing activities Interest paid Transactions on non-controlling interests Proceeds from loans Repayment of loans Payment of lease liabilities Dividends paid Other changes from financing activities Net cash used in financing activities Net increase/(decrease) in cash and cash equivalents Exchange rate effects and other changes in cash and cash equivalents Cash and cash equivalents and bank overdrafts at the beginning of the year Cash and cash equivalents and bank overdrafts at the end of the year Less cash and cash equivalents included within assets held for sale Cash and cash equivalents and bank overdrafts at the end of the year (without assets held for sale) Notes 2022 € m 2021 € m 932 286 30 5 – 78 1,881 228 – 6 – 115 (107) (949) 6.14 4.2 4.2 6.1 6.3 4.3 10.1 6.16.8 6.12 6.12 6.12 6.10 6.11 6.10 132 (97) (503) (293) 463 (68) (113) 166 (133) (48) 1 194 105 10 544 658 (24) (67) 35 (79) (81) (860) (16) (1,092) 29 (11) 570 588 – 588 40 46 2 (437) 932 (88) (136) (217) (107) (48) 2 665 29 4 (218) (114) (26) (37) 56 (113) (63) (569) (7) (759) 59 4 507 570 (23) 547

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Notes to the consolidated financial statements 105 Notes to the consolidated financial statements 1. General information and significant accounting policies RTL Group S.A. (the ‘Company’) is a company incorporated under Luxembourgish law. The consolidated financial statements of the Company as at 31 December 2022, comprise the Company and its subsidiaries (together referred to as ‘RTL Group’ or ‘the Group’) and the Group’s interest in associates and joint ventures. RTL Group S.A. is a leading entertainment company across broadcast, streaming, content and digital, with interests in 56 television channels, nine streaming services and 36 radio stations and a global business for content production and distribution. The Company is listed on the Frankfurt and Luxembourg Stock Exchanges and is a member of the MDAX stock index. Statutory accounts can be obtained at its registered office established at 43, boulevard Pierre Frieden, L–1543 Luxembourg. The ultimate parent company of RTL Group S.A. preparing consolidated financial statements, Bertelsmann SE & Co. KGaA, includes in its consolidated financial statements those of RTL Group S.A. Bertelsmann SE & Co. KGaA is a company incorporated under German law whose registered office is established at Carl-Bertelsmann-Straße 270, D–33311 Gütersloh, Germany. Consolidated financial statements for Bertelsmann SE & Co. KGaA can be obtained at the company’s registered office. The consolidated financial statements of the Group were authorised for issue by the Board of Directors on 15 March 2023. They will be submitted for approval to the next Shareholders' Meeting on 26 April 2023. 1.1. Statement of compliance The consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) as adopted by the European Union. 1.2. Basis of preparation of consolidated financial statements The consolidated financial statements are presented in millions of Euro, which is the Company’s functional and Group presentation currency, and have been prepared under the historical cost convention except for the following material items in the statement of financial position: – Derivative financial instruments are measured at fair value – Non-derivative financial instruments at fair value through profit or loss (FVTPL) are measured at fair value – Equity instruments at fair value through OCI (FVOCI) are measured at fair value – Liabilities for cash-settled share-based payment arrangements are measured at fair value – The defined benefit assets and liabilities are measured in accordance with IAS 19. The preparation of financial statements in conformity with IFRS as adopted by the European Union requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses. The estimates and associated assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances, the results of which form the basis of making the judgements about carrying amounts of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. Judgements made by management in the application of IFRS that have a significant effect on the financial statements, and estimates with a significant risk of material adjustment in the coming years, are discussed in note 2.

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106 RTL Group Annual Report 2022 Impact of new financial reporting standards, interpretations and amendments The first-time application of new requirements had no material impact on RTL Group. Impact of issued financial reporting standards that are not yet effective RTL Group has not opted for early adoption of any additional standards, interpretations or amendments that have been issued by the IASB or the IFRS IC but are not yet mandatory. Impact of external events on the consolidated financial statements In 2022, multiple external events impacted the business environment of RTL Group. These include geopolitical tensions with the war in Ukraine, inflation, energy supply and supply chain issues. The inflation had direct implications on the business performance of RTL Group (e.g. increase in raw material costs) as well as indirect implications (e.g. reduced levels of bookings of advertising clients). Despite the challenging macroeconomic backdrop, RTL Group’s businesses showed a robust performance in the financial year 2022. This is indicated by a strong Adjusted EBITA level, comparing favourably to almost all historical years when normalising for effects from streaming start-up losses. The external challenges and associated uncertainties have been, and will continue to be, regularly monitored by management from the outset to allow for early intervention if necessary. For this reason, the effects on the consolidated statement of financial position of the particularly relevant areas of impairment of goodwill and individual assets, leasing, programming rights, inventories, trade receivables, government grants, deferred tax assets, contingent losses and revenues have been analysed on an ongoing basis. Based on the current development of the business, no impairment of goodwill was considered necessary, despite the geopolitical and economic uncertainties. This also applies to the accounting areas classified as vulnerable, for which no significant negative impact on the financial position and results of operations of RTL Group is currently expected. The assessment is based on judgements, estimates and assumptions that involve uncertainties in the current situation characterised by geopolitical and macroeconomic challenges above and beyond the level seen in recent years. Management believes it has considered these uncertainties appropriately. 1.3. Principles of consolidation 1.3.1. Subsidiaries Subsidiaries are those undertakings controlled by the Company. Control exists when the Company has power or ability, directly or indirectly, over an entity; is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect these returns through its power over the entity. The existence and effect of potential voting rights that are presently exercisable or presently convertible are considered when assessing whether the Company controls another entity. Directly or indirectly held subsidiaries are consolidated from the date on which control is transferred to the Company, and are no longer consolidated from the date that control ceases. The full consolidation method is used, whereby the assets, liabilities, income and expenses are fully incorporated. The proportion of the net assets and net income attributable to non-controlling interests is presented separately as non-controlling interests in the consolidated statement of financial position and in the consolidated income statement. Intra-group balances and transactions, and any unrealised income and expense (except for foreign currency transaction gains or losses) arising from intra-group transactions, are eliminated in preparing the consolidated financial statements. Accounting for business combinations Business combinations are accounted for using the acquisition method as at the acquisition date, which is the date on which control is transferred to the Group. For acquisitions on or after 1 January 2010, the Group measures goodwill at the acquisition date as: – the fair value of the consideration transferred; plus – the recognised amount of any non-controlling interests in the acquiree; plus, if the business combination is achieved in stages, the fair value of the existing equity interest in the acquiree; less – the net recognised amount of the identifiable assets acquired, and liabilities assumed. When the excess is negative, a bargain purchase gain is recognised immediately in profit or loss.

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Notes to the consolidated financial statements 107 The consideration transferred for the acquisition of a subsidiary is the fair value of the assets transferred, the liabilities incurred, and the equity interests issued by the Group. The consideration transferred includes the fair value of any asset or liability resulting from a contingent consideration arrangement. Costs related to the acquisition – other than those associated with the issue of debt or equity securities – that the Group incurs in connection with a business combination, are expensed as incurred. Any contingent consideration payable is recognised at fair value at the acquisition date. Contingent consideration is classified as either equity or a financial liability. If an obligation to pay contingent consideration is classified as equity, then it is not re-measured, and settlement is accounted for within equity. It is a Level 3 fair value measurement based on the discounted cash flows (DCF) and derived from market sources as described in notes 6.2 and 7.3. The potential cash payments related to put options issued by the Group over the equity of subsidiary companies are accounted for as financial liabilities. The amount that may become payable under the option on exercise is initially recognised for the present value of the redemption amount within accounts payable, with a corresponding charge directly to equity or through goodwill in case of a business combination, with the transfer of the risks and rewards of the non-controlling interests to the Group. Subsequent measurement of liabilities from put options is recognised in profit or loss. The income/(expense) arising is recorded in ‘Other financial income’ or ‘Other financial expense’. On an acquisition-by-acquisition basis the Group recognises any non-controlling interests in the acquiree either at fair value or at the non-controlling interest’s proportionate share of the acquiree’s net assets. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair value at the acquisition date. Accounting for transactions under common control For transaction under common control RTL Group applies the accounting policy choice to recognise assets acquired and liabilities assumed at carrying amounts, while the difference between assets/liabilities and consideration transferred is recognised in equity under ‘Other changes’. Accounting for transactions with non-controlling interests The Group treats transactions with non-controlling interests as transactions with equity owners of the Group. For acquisitions from non-controlling interests, the difference between any consideration paid and the relevant share acquired of the carrying amount of the net assets of the subsidiary is recorded in equity. Gains or losses on disposals of non-controlling interests are also recorded in equity. Loss of control When the Group ceases to have control, any retained interest in the entity is re-measured to its fair value at the date when control is lost, with the change in carrying amount recognised in profit or loss. The fair value subsequently becomes the initial carrying amount for the purposes of accounting for the retained interest as an associate, joint venture or financial asset. In addition, any amounts previously recognised in other comprehensive income in respect of that entity are accounted for as if the Group had directly disposed of the related assets or liabilities. This may mean that amounts previously recognised in other comprehensive income are reclassified to profit or loss. 1.3.2. Investments accounted for using the equity method The investments accounted for using the equity method comprise interests in associates and joint ventures. Associates are defined as those investments where the Group can exercise a significant influence. Joint ventures are arrangements in which the Group has joint control, whereby the Group has rights to the net assets of arrangements, rather than rights to their assets and obligations for their liabilities. Such investments are recorded in the consolidated statement of financial position using the equity method of accounting and are initially recognised at cost, which includes transaction costs. Under this method the Group’s share of the post-acquisition profits or losses of investments accounted for using the equity method (impairment loss included) is recognised in profit or loss, and its share of post-acquisition movements in reserves is recognised in reserves. When the Group’s share of losses in an investment accounted for using the equity method equals or exceeds its interest in the investment accounted for using the equity method, including any other unsecured receivables, the Group does not recognise further losses, unless it has incurred obligations or made payments on behalf of the investment accounted for using the equity method.

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108 RTL Group Annual Report 2022 Unrealised gains on transactions between the Group and its investments accounted for using the equity method are eliminated against the investment accounted for using the equity method to the extent of the Group’s interest in the investee. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred. Accounting policies for investments accounted for using the equity method have been changed where necessary to ensure consistency with the policies adopted by the Group and restated in the case of specific transactions on RTL Group level in relation to investments. 1.4. Foreign currency translation 1.4.1. Foreign currency translations and balances Transactions in foreign currencies are translated to the respective functional currencies of Group entities at the foreign exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the reporting date are translated at the foreign exchange rate ruling at that date. Foreign exchange differences arising on translation are generally recognised in profit or loss. Non-monetary assets and liabilities that are measured in terms of historical cost in a foreign currency are translated using the exchange rate at the date of the transaction. Non-monetary assets and liabilities denominated in foreign currencies that are stated at fair value are translated to Euro at foreign exchange rates ruling at the date the fair value was determined. 1.4.2. Financial statements of foreign operations The assets and liabilities of foreign operations, including goodwill, and fair value adjustments arising on consolidation, are translated to Euro using the foreign exchange rate prevailing at the reporting date. Income and expenses are translated at the average exchange rate for the year under review. The foreign currency translation differences resulting from this treatment and those resulting from the translation of the foreign operations’ opening net asset values at year-end rates are recognised directly in a separate component of equity. Exchange differences arising from the translation of the net investment in a foreign operation, or associated undertaking and financial instruments, which are designated and qualified as hedges of such investments, are recognised directly in a separate component of equity. On disposal or partial disposal of a foreign operation, such exchange differences or proportion of exchange differences are recognised in profit or loss as part of the gain or loss on sale. 1.5. Derivative financial instruments and hedging activities Fair value Derivative financial instruments are initially recognised at fair value in the statement of financial position at the date a derivative contract is entered into and are subsequently re-measured at fair value. The fair value of foreign currency forward contracts is determined by using forward exchange market rates at the reporting date. Cash flow hedges For qualifying hedge relationships, the Group documents at the inception of the transaction the relationship between hedging instruments and hedged items, as well as its risk management objective and strategy for undertaking the hedge. This process includes linking all derivatives designated as hedges to specific assets and liabilities or to specific firm commitments or forecast transactions. Thereby the qualifying instrument is separated in the spot element and forward element and only the change in the fair value of the spot element is designated as a hedging instrument. The hedge ratio of 1:1 is applied accordingly. The Group also documents, both at the hedge inception and on an ongoing basis, its assessment of whether the hedging derivatives are effective in offsetting changes in fair values or cash flows of the hedged items. The accounting treatment applied to cash flow hedges in respect of off-balance sheet assets and liabilities can be summarised as follows: – The designated component of fair value changes on the hedging instrument (mostly foreign currency forward contracts or cash balances in foreign currencies) is deferred in ‘Hedging reserve’ – Amounts deferred in ‘Hedging reserve’ are subsequently released to the income statement in the periods in which the hedged item impacts the income statement. Hedging forecast purchases of programme rights in foreign currency releases from equity when the programme right is recognised on-balance sheet in accordance with the Group’s policy – The non-designated component of the fair value changes on the hedging instrument is recorded directly in profit or loss.

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Notes to the consolidated financial statements 109 If the hedge no longer meets the criteria for hedge accounting or the hedging instrument is sold, expires, is terminated or is exercised, then hedge accounting is discontinued prospectively. When hedge accounting for cash flow hedges is discontinued, the amount that has been accumulated in the ‘Hedging reserve’ remains in equity until – for a hedge of a transaction resulting in the recognition of the programme rights – it is included in the costs of the programme rights on its initial recognition or, for other cash flow hedges, it is reclassified to profit or loss in the same period or periods as the hedged expected future cash flows affect profit or loss. If the hedged future cash flows are no longer expected to occur, the amounts that have accumulated in the ‘Hedging reserve’ are immediately reclassified to profit or loss. 1.6. Current/non-current distinction Current assets are assets expected to be realised or consumed in the normal course of the Group’s operating cycle (normally within one year). All other assets are classified as non-current assets. Current liabilities are liabilities expected to be settled by use of cash generated in the normal course of the Group’s operating cycle (normally within one year) or liabilities due within one year from the reporting date. All other liabilities are classified as non-current liabilities. 1.7. Intangible assets 1.7.1. Non-current programme and other rights Non-current programme and other rights are initially recognised at acquisition cost or production cost – which includes staff costs and an appropriate portion of relevant overheads – when the Group controls, in substance, the respective assets and the risks and rewards attached to them. Non-current programme and other rights include (co-)productions, audio-visual and other rights acquired with the primary intention to broadcast, distribute or trade them as part of the Group’s long-term operations. The economic benefits of the rights are highly correlated to their consumption patterns, which themselves are linked to the revenue. These non-current programme and other rights are therefore amortised based on expected revenue. The amortisation charge is based on the ratio of net revenue for the period over total estimated net revenue. The (co-)production shares and flat fees of distributors are amortised over the applicable product lifecycle based on the ratio of the current period’s revenue to the estimated remaining total revenue (ultimate revenue) for each (co-)production. Estimates of total net revenue are periodically reviewed and additional impairment losses are recognised if appropriate. 1.7.2. Goodwill Business combinations are accounted for using the acquisition method as at the acquisition date. Goodwill arising from applying this method is measured at initial recognition as detailed in note 1.3.1. Goodwill on acquisitions of subsidiaries is recognised as an intangible asset. Goodwill is tested at least annually for impairment and carried at cost less accumulated impairment losses. Goodwill is allocated to cash-generating units for the purpose of impairment testing. Each cash-generating unit represents the Group’s investment in a geographical area of operation by business segment, except for Fremantle and We Are Era which are global/ multi-territory operations. RTL Deutschland has minor businesses in France and United Kingdom. No goodwill is recognised on the acquisition of non-controlling interests. 1.7.3. Other intangible assets Other intangible assets with a definite useful life, which are acquired by the Group, are stated at cost less accumulated amortisation and impairment losses. They comprise licences (other than (co-)production, audio-visual and other rights), trademarks and similar rights as well as software. They are amortised on a straight- line basis over their estimated useful life as follows: – Licences: seven to 20 years – Software: maximum three years. Brands, unless an indefinite useful life can be justified, and customer relationships acquired through business combinations are mainly amortised on a straight-line basis over their estimated useful life. Other intangible assets with an indefinite useful life are tested annually for impairment and whenever there is an indication that the intangible asset may be impaired.

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110 RTL Group Annual Report 2022 1.8. Property, plant and equipment Property, plant and equipment are stated at cost less accumulated depreciation and impairment losses. Depreciation is recognised on a straight-line basis over the estimated useful lives of the assets as follows: – Land: nil – Buildings: ten to 25 years – Technical equipment: four to ten years – Other fixtures and fittings, tools and equipment: three to ten years. Where an item of property, plant and equipment comprises major components having different useful lives, they are accounted for as separate items of property, plant and equipment. Gains and losses on disposals are determined by comparing proceeds with the carrying amount and are included in profit from operating activities. Depreciation methods and useful lives, as well as residual values, are reassessed annually. Expenditure incurred to replace a component of an item of property, plant and equipment that is separately accounted for is capitalised with the carrying amount of the component that is to be replaced being written off. Other subsequent expenditure is capitalised only when it increases the future economic benefits that will be derived from the item of property, plant and equipment. All other expenditure is expensed as incurred. 1.9. Leases The Group mainly leases premises for operating businesses. Leases are recognised as a right-of-use asset with a corresponding liability at the date at which the leased asset is available for use by the Group. Each lease payment is allocated between the liability and finance cost. The finance cost is charged to profit or loss over the lease period to produce a constant periodic rate of interest on the remaining balance of the liability for each period. Right-of-use assets The Group recognises right-of-use assets at the commencement date of the lease (i.e. the date the underlying asset is available for use). Right-of-use assets are measured at cost less any accumulated depreciation and impairment losses and adjusted for any re-measurement of lease liabilities. The cost of right-of-use assets includes the amount of the lease liabilities recognised, initial direct costs incurred, restoration costs, and lease payments made at, or before, the commencement date less any incentives received. Right-of-use assets are depreciated on a straight-line basis over the shorter of the asset’s estimated useful life and the lease term. Right-of-use assets are subject to impairment testing. Lease liabilities At the commencement date of the lease, the Group recognises lease liabilities measured at the present value of lease payments to be made over the lease term. The lease payments include fixed payments (including in substance fixed payments) less any lease incentive receivable, variable lease payments that depend on an index or a rate, and amounts expected to be paid under residual value guarantees. The lease payments also include the exercise price of a purchase option that is reasonably certain to be exercised by the Group and payments of penalties for terminating a lease, if the lease term reflects the Group exercising the option to terminate. The variable lease payments that do not depend on an index or a rate are recognised as an expense in the period on which the event or condition that triggers the payment occurs. The lease payments are discounted using the interest rate implicit in the lease. If that rate cannot be determined, the lessee’s maturity, currency and risk-specific incremental borrowing rate is used. The incremental borrowing rate represents the cost of obtaining external financing for a corresponding asset with a financing period corresponding to the term of the lease denominated in the currency in which lease payments are settled. After the commencement date, the amount of lease liabilities is increased to reflect the accretion of interest and reduced for the lease payments. In addition, the carrying amount of lease liabilities is re-measured if there is a modification, a change in the lease term, a change in the in-substance fixed lease payments or a change in the assessment to purchase the underlying asset. Short-term leases and leases of low-value assets for all classes of assets The Group applies the short-term lease recognition exemption to its leases (i.e. those leases that have a term of 12 months or less from the commencement date and do not contain a purchase option). It also applies the exemption of low-value leased assets. Lease payments on short-term leases and leases of low-value assets are recognised on a straight-line basis as an expense over the lease term.

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Notes to the consolidated financial statements 111 1.10. Loans and other financial assets Initial recognition The Group classifies its financial assets in the following measurement categories: – those to be measured subsequently at fair value (either through OCI, or through profit or loss), and – those to be measured at amortised cost. The classification depends on the entity’s business model for managing the financial assets and the contractual terms of the cash flows. Financial assets (with the exception of trade receivables without a significant financing component) are recognised initially at fair value, taking into account transaction costs that are directly attributable to the acquisition of the financial asset. Transaction costs of financial assets recognised at fair value through profit or loss are immediately expensed in profit or loss. Trade receivables without a significant financing component are initially recognised at their transaction price. For financial assets – debt instruments and investments in equity instruments – measured at fair value through profit or loss, gains and losses will be recorded in either profit or loss or OCI. For investments in equity instruments that are not held for trading, this will depend on whether the Group has made an irrevocable election at the time of initial recognition to account for the equity instrument at fair value through other comprehensive income (FVOCI). Financial assets with embedded derivatives are separated from the host contract and accounted for separately if the host contract is not a financial asset and certain criteria are met. The fair value of publicly traded investments is based on quoted market prices at the reporting date. The fair value of non-publicly traded investments is based on the estimated discounted value of future cash flows. Subsequent measurement Debt instruments Subsequent measurement of debt instruments depends on the Group’s business model for managing the asset and the cash flow characteristics of the asset. The Group classifies its debt instruments in three measurement categories: – Amortised cost: assets that are held in order to collect contractual cash flows where those cash flows represent solely payments of principal and interest. Financial assets at amortised cost are subsequently measured using the effective yield method, less any valuation allowance for credit risk. Any difference between nominal value, net of transaction costs, and redemption value is recognised using the effective interest method in profit or loss over the period of the loan. Interest income from these financial assets is included in ‘Interest income’ using the effective interest method. Any gain or loss arising on derecognition is recorded directly in profit or loss and presented in ‘Other operating income’ or ‘Other operating expense’, together with foreign exchange gains and losses. Impairment losses, when applicable, are presented as ‘Other operating expenses’ in the consolidated income statement – FVOCI: assets that are held in order to collect contractual cash flows and for selling the financial assets – where the assets’ cash flows solely represent payments of principal and interest – are measured at FVOCI. Changes in the fair value are taken through OCI, except for the recognition of impairment losses (and reversal of impairment losses), foreign exchange gains and losses and interest income, which are recognised in profit or loss. When the financial asset is derecognised, the cumulative gain or loss previously recognised in OCI is reclassified from equity to profit or loss and recognised in ‘Gain/(loss) from sale of subsidiaries, other investments and re- measurement to fair value of pre-existing interest in acquiree’. Interest income from these financial assets is included in ‘Interest income’ using the effective interest rate method. Impairment expenses are presented in ‘Other operating expenses’ and disclosed separately in the notes to the consolidated income statement – FVTPL: instruments that do not meet the criteria for amortised cost or FVOCI are measured at FVTPL. A gain or loss on a debt instrument that is subsequently measured at FVTPL is recognised in the consolidated income statement and presented net within ‘Fair value measurement of investments’ which is reported in ‘Other operating income’ or ‘Other operating expense’. The Group reclassifies debt investments when and only when its business model for managing those assets changes.

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112 RTL Group Annual Report 2022 Equity instruments The Group subsequently measures all equity instruments at fair value. Where the Group’s management has elected to present fair value gains and losses on equity instruments in OCI, there is no subsequent reclassification of fair value gains and losses to profit or loss following the derecognition of the investment. Dividends from such investments continue to be recognised in profit or loss as other income when the Group’s right to receive payments is established. Impairment losses (and reversal of impairment losses) on equity instruments at FVOCI are not reported separately from ‘Equity instruments at FVOCI – change in fair value, net of tax’ in the revaluation reserve of the consolidated statement of changes in equity. Changes in the fair value of financial assets at FVTPL are recognised within ‘Fair value measurement of investments’ in the consolidated income statement. 1.11. Current programme rights Current programme rights are initially recognised at acquisition cost or Group production cost when the Group controls, in substance, the respective assets and the risks and rewards attached to them. Current programme rights include programmes in progress, (co-)productions and rights acquired with the primary intention to broadcast or sell them in the normal course of the Group’s operating cycle. Current programme rights include an appropriate portion of overheads and are stated at the lower of cost and net realisable value. The net realisable value assessment is based on the advertising revenue expected to be generated when broadcast, and on estimated net sales. Weak audience shares or changes from a prime-time to a late-night slot constitute indicators that a valuation allowance may be recorded. They are consumed based on either the expected number of transmissions or expected revenue in order to match the costs of consumption with the benefits received. The rates of consumption applied for broadcasting rights are as follows: – Free television thematic channels: programme rights are consumed on a straight-line basis over a maximum of six runs – Free television other channels: – Blockbusters (films with high cinema ticket sales), mini-series (primarily own productions with a large budget), other films, series, TV movies and (co-)productions are consumed, run by run, over a maximum of four transmissions mainly following a degressive approach for amortisation depending on the agreed total number of transmissions – Soaps, in-house productions, quiz and game shows, sports and other events, documentaries and music shows are fully consumed upon the first transmission – Children’s programmes and cartoons are consumed over the license period on a linear basis as there is a very slow saturation and a very high number of repetitions for the target group kids (three to 13-year-olds) – Pay television channels: programme rights are consumed on a straight-line basis over the licence period. 1.12. Accounts receivable and contract assets Trade accounts receivable arise from the sale of goods and services related to the Group’s operating activities. Trade accounts receivable are recognised initially at the amount of consideration that is unconditional, unless they contain significant financing components, in which case they are recognised at fair value. They are subsequently measured at amortised cost using the effective interest method, less impairment loss. Contract assets relate to the conditional right to consideration for complete satisfaction of the contractual obligations. Other accounts receivable include – in addition to deposits and amounts related to Profit and Loss Pooling (PLP) and Compensation Agreements with RTL Group’s controlling shareholder – VAT recoverable, and prepaid expenses. Impairment losses on trade accounts receivable, other financial instruments measured at amortised costs and contract assets are recognised when: – RTL Group assesses on a forward-looking basis the expected credit loss; or – there is objective evidence that the Group will not be able to collect all amounts due according to the original terms. Significant financial difficulties of the debtor, probability that the debtor will enter bankruptcy or financial reorganisation, and default or delinquency in payments (more than 30 days overdue) are considered indicators that the trade receivable or the contract asset is impaired. In that case, the trade receivable or the contract asset is removed from the expected credit loss and impaired on a stand-alone basis.

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Notes to the consolidated financial statements 113 Additions to valuation allowance and subsequent recoveries of amounts previously written off are reported in the income statement within ‘Other operating expenses’. Accrued income is stated at the amounts expected to be received. 1.13. Cash and cash equivalents Cash consists of cash in hand and at bank. Cash equivalents are assets that are readily convertible into cash, such as short-term highly liquid investments, commercial paper, bank deposits and marketable securities, all of which mature within three months from the date of purchase, and money market funds that qualify as cash and cash equivalents under IAS 7. Bank overdrafts are included within current liabilities. 1.14. Impairment of non-financial assets Assets that have an indefinite useful life are not subject to amortisation and are tested annually for impairment. Assets that are subject to amortisation are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognised for the amount by which the asset’s carrying amount exceeds its recoverable amount. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (cash-generating units). The recoverable amount is the higher of an asset’s fair value less costs of disposal and value in use. In assessing value in use, and fair value less costs of disposal where applicable, the estimated future cash flows are discounted to their present value using a discount rate after tax that reflects current market assessments of the time value of money and the risks specific to the asset. In respect of assets other than goodwill, an impairment loss is reversed when there is an indication that the conditions that caused the impairment loss may no longer exist and there has been a change in the estimates used to determine the recoverable amount. The carrying amount after the reversal of the impairment loss cannot exceed the carrying amount that would have been determined, net of depreciation and amortisation, if no impairment loss had been recognised. 1.15. Impairment of financial assets RTL Group applies the expected credit loss (ECL) model in accordance with IFRS 9 for debt instruments at amortised cost and for contract assets. Accordingly, the amount of expected credit losses recognised as a loss allowance depends on the extent to which the default risk has increased since initial recognition. According to the so-called general approach, a distinction is made between the following two measurement bases: – 12-month ECL: At initial recognition, and if the default risk has not increased significantly from the initial recognition of the debt instrument, a loss allowance is recognised for expected credit losses within the next 12 months. – Lifetime ECL: If the default risk has increased significantly, a loss allowance for expected credit losses is recognised for the entire life of the debt instrument. Appropriate quantitative and qualitative information and analyses based on the Group’s past experience and reasonable assessments – including forward-looking information such as customer-specific information and forecasts of future economic conditions – are taken into consideration when determining the credit risk. When a financial asset is more than 30 days past due, its credit risk is assumed to have increased significantly. A default of a financial asset is assumed at the latest when the counterparty fails to make contractual payments within 90 days of when they fall due, unless reasonable and supportable information is available that justifies a different time of overdue payment. The Group assesses whether a financial asset is credit-impaired at the end of each reporting period. This is the case when one or more events that have a detrimental impact on the expected future cash flows of that financial asset have occurred. A financial asset is written off when it is no longer reasonably expected to be fully or partially recoverable.

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114 RTL Group Annual Report 2022 For trade receivables and contract assets, RTL Group uses a simplified approach to measure expected credit losses. According to this, the loss allowance is measured using lifetime expected credit losses. For this purpose, impairment matrices based on historic bad debt losses, maturity bands and expected credit losses have been prepared. The impairment matrices were created for business unit-specific groups of receivables, each with similar default patterns. In addition, separate risk assessments are performed. Contract assets have substantially the same risk characteristics as trade receivables for the same types of contracts, so that the expected loss rates for trade receivables are a reasonable approximation of the loss rates for contract assets. 1.16. Non-current assets held for sale Non-current assets (or disposal groups) are classified as assets held for sale when their carrying amount is to be recovered principally through a sale transaction and a sale is considered highly probable. They are stated at the lower of the carrying amount and fair value less costs of disposal if their carrying amount is recovered principally through a sale transaction rather than through continuing use. 1.17. Accounts payable Trade accounts payable arise from the purchase of assets, goods and services relating to the Group’s operating activities and include accrued expenses. Other accounts payable comprise – in addition to amounts related to the Profit and Loss Pooling Agreement (PLP) with RTL Group’s controlling shareholder – VAT payable, fair value of derivative liabilities, and accounts payable on capital expenditure. Trade and other accounts payable are measured at amortised cost using the effective interest method, except derivative liabilities, which are measured at fair value. 1.18. Loans payable Interest-bearing current and non-current liabilities are recognised initially at fair value less transaction costs. Subsequent to initial recognition, interest-bearing current and non-current liabilities are stated at amortised cost with any difference between cost and redemption value being recognised in the income statement over the period of the borrowings using the effective interest method. 1.19. Provisions Provisions are recognised when the Group has a present legal or constructive obligation to transfer economic benefits as a result of past events. The amounts recognised represent management’s best estimate of the expenditures that will be required to settle the obligation at the reporting date. Provisions are measured by discounting the expected future cash flows to settle the obligation at a pre-tax risk-free rate that reflects current market assessments of the time value of money and, where appropriate, the risks specific to the obligation. A provision for restructuring is recognised when the Group has approved a detailed and formal restructuring plan and the restructuring has either commenced or been announced publicly. Costs relating to the ongoing activities of the Group are not provided for. Provisions for onerous contracts mainly relate to unavoidable costs for individual programme rights, the performance of which is assessed as clearly below that originally planned when the contract was agreed. Such situations mainly arise in case of executory obligations to purchase programmes that will not be aired due to lack of audience capacity or to a mismatch with the current editorial policy. In addition, an expected or actual fall in audience can be evidenced by several indicators, such as the underperformance of a previous season, the withdrawal of the programme’s main advertisers or a decline in the popularity or success of sports programmes. Long-term sourcing agreements aim to secure the programme supply of broadcasters. These are mainly output deals, production agreements given European quota obligations, and arrangements with sports organisations. The provision is measured at the present value of the lower of the expected cost of terminating the contract and the expected net cost of continuing with the contract. Before a provision is established, the Group recognises any impairment loss on the assets associated with that contract.

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Notes to the consolidated financial statements 115 1.20. Employee benefits 1.20.1. Pension benefits The Group operates or participates in both defined contribution and defined benefit plans, according to the national laws and regulations of the countries in which it operates. The assets of the plans are generally held in separate trustee-administered funds, and some of the plans are operated through pension funds that are legally independent from the Group. The pension plans are generally funded by payments from employees and by the relevant Group companies, taking into account the recommendations of independent qualified actuaries. Pension costs and obligations relating to defined benefit plans are recognised based on the projected unit credit method. The Group recognises actuarial gains and losses in other comprehensive income. Past-service costs are recognised immediately through profit or loss. Pension costs relating to defined contribution plans (including deferred compensation plans that are defined contribution plans in nature) are recognised when an employee has rendered service in exchange for the contributions due by the employer. 1.20.2. Other benefits Many Group companies provide death in service benefits, and spouses’ and children’s benefits. The costs associated with these benefits are recognised when an employee has rendered service in exchange for the contributions due by the employer. 1.20.3. Share-based transactions Share options are granted to directors, senior executives and other employees of the Group. They may also be granted to suppliers for settlement of their professional services. Share options entitle holders to purchase shares at a price (the ‘strike price’) payable at the exercise date of the options. Options are initially measured at their fair value determined on the date of grant. The grant date fair value of equity-settled share-based payment arrangements is recognised as an expense with a corresponding increase in equity over the vesting period of the options. The amount recognised as an expense is adjusted to reflect the number of options that are expected to ultimately vest, considering vesting service conditions and non-market performance conditions. For cash settled share-based payment arrangements, the fair value of the amount payable to employees is recognised as an expense with a corresponding increase in liability until the employees exercise their options. The liability is re-measured to fair value at each reporting date up until the settlement date. Any changes in the liability are recognised in the income statement. The fair value of the options is measured using specific valuation models. 1.21. Share capital 1.21.1. Equity transaction costs Incremental external costs directly attributable to the issue of new shares, other than in connection with a business combination, are deducted, net of the related income taxes, against the gross proceeds recorded in equity. 1.21.2. Treasury shares Where the Company or its subsidiaries purchase the Company’s own equity, the consideration paid, including any attributable transaction costs net of income taxes, is shown in deduction of equity as ‘Treasury shares’. 1.21.3. Dividends Dividends on ordinary shares are recorded in the consolidated financial statements in the period in which they are approved at the Shareholders’ meeting or authorised by the Board of Directors in case of interim dividends. 1.22. Revenue presentation and recognition Revenue relates to advertising, the production, distribution and licensing of films, programmes and other rights, the rendering of services and the sales of merchandise. Revenue is presented net of sales deductions such as cash rebates, credit notes, discounts, refunds and VAT. Revenue comprises the fair value of the consideration received or receivable in the ordinary course of the Group’s activities. The transaction price is determined based on the contractually agreed terms. The nature and timing of satisfaction of performance obligations and significant payment terms differ between the categories of revenue, whereas payments are generally due within short time.

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116 RTL Group Annual Report 2022 Advertising revenue Advertising arrangements mostly include spots aired or advertisements published as part of a campaign on various media (TV, radio, internet or printed magazines), generally for a period of up to one year. RTL Group considers that spots aired constitute a series of performance obligations for which the clients benefit from the visibility of their brands as the spot is broadcast. Therefore, RTL Group treats the series of spots as a single performance obligation. The same applies to advertisements in printed magazines. Advertising revenue is recognised during the period over which the related advertisement is broadcast or appears before the public. Commissions paid to sales houses and other agencies are directly deducted from advertising revenue. Both normal and free advertising spots of an advertising campaign are considered as separate performance obligations and recognised for their relative standalone selling price. Free advertising spots and printed advertisements generate a contract asset if they are aired or published before normal advertising spots and printed advertisements, and a contract liability in the reverse case. Content revenue Content revenue mostly consists of revenue generated from the production and licensing of intellectual property to customers. Customer contracts typically have a wide variety of performance obligations, from production licence contracts to multi-year format licence agreements, as well as ancillary rights and services (e.g. merchandising rights, sponsorship rights and production consulting services) and distribution activities. IFRS 15 requires an assessment of the nature of promise at contract level, of the unit of account regarding licences and payment terms. The Group assesses whether licences are determined to be a right to access the content (revenue recognised over time) versus a right to use the content (revenue recognised at a point in time). RTL Group has determined that, for most of the licences granted, the involvement of the Group is limited to the transfer of the licence, where the performance obligation is satisfied at a point in time. Non-refundable minimum guarantees recoupable over royalties are received as part of some production or distribution arrangements. These are recognised in accordance with the classification of the type of licence granted. Granting licences for streaming agreements (e.g. RTL+) stipulate obligations to provide access to the content over the subscription period. These are recognised in accordance with the classification of the type of licence granted, i.e. over time. In the case of sales-based or usage-based royalties in exchange for a licence of intellectual property, the Group recognises revenue when the performance obligation to which some or all of the sales-based or usage-based royalty has been allocated has been satisfied (or partially satisfied) and when the subsequent sale or usage has occurred. Most of the licences granted are licences for which revenue, including minimum guarantees, should be recognised at a point in time. In parallel, advance payments received from a customer to fulfil non-cancellable arrangements generate a contract liability. When the customer has a right to return the product within a given period, the entity is obliged to refund the purchase price. Under IFRS 15, a refund liability for the expected refunds to customers is recognised as an adjustment to revenue in trade and other accounts payable. A significant part of operations developed by the digital video networks consists of distributing videos licenced by talents/influencers that are advertising-financed. The related revenue, due to a variable basis, is reported in content revenue. Distribution revenue is recognised when the Group’s TV channels are providing a signal to cable, satellite platforms and internet TV for a fee.

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Notes to the consolidated financial statements 117 Other revenue Revenue from own products is recognised at a point in time when control is transferred. Depending on the underlying respective terms of sale, this is generally upon delivery to the customer. Expected returns from sales of products, mainly from print magazines, are shown as liabilities in the position ’Accounts payable and other liabilities’. In individual business models, giveaways to customers meet the criteria of a separate performance obligation. Any giveaways to an agent are capitalised as costs to obtain a contract and are amortised over the expected term of the subscription. Revenue from services is recognised in the period in which the service has been rendered for the consideration that the Group expects to receive. Sales of merchandise are recognised when the customer has obtained controls of the goods for the amount that the Group expects to receive. For the sale of third-party goods and services and especially in the context of the Group’s digital businesses, the Group assesses whether it operates as a principal, and reports revenue on a gross basis, or as an agent, and reports revenue on a net basis. The decision is primarily based on who the customer is and whether the agent obtains control of the specified goods or services before they are transferred to the customer. Other indicators include who is primarily responsible for fulfilment, inventory risk, and discretion in establishing the sales price. In the Directors’ report, ‘Digital’ refers to internet-related activities with the exception of online sales of merchandise (e-commerce). Digital revenue is spread over three different categories: digital advertising sales, revenue from distribution and licensing content, and consumer and professional services. In contrast to some competitors, RTL Group recognises only pure digital businesses as digital revenue and does not consider e-commerce, home shopping and platform revenue as digital revenue. Revenue from e-commerce and home shopping are included in ‘Revenue from selling goods and merchandise and providing services’. ‘Content’ mainly embraces the non-scripted and scripted production and related distribution operations. IFRS 15 stipulates some practical expedients of which the following are applied in RTL Group: – Costs of obtaining contracts are not capitalised if the underlying asset is amortised in no more than 12 months – The value of consideration is not adjusted for the effects of a material financing component if the financing component pertains to a period of no more than 12 months – For contracts with an original duration of no more than 12 months and for contracts for which revenue can be recognised according to the amount invoiced for simplification purposes, no disclosure of the aggregated transaction price is provided. 1.23. Government grants Grants from government and inter-governmental agencies are recognised at their fair value where there is a reasonable assurance that the grant will be received, and the Group will comply with all attached conditions. Government grants related to assets are initially presented as a deduction in arriving at the carrying amount of the asset. Grants that compensate the Group for expenses incurred are recognised in ‘Other operating income’ on a systematic basis in the same period in which the expenses are recognised. Forgivable loans are loans which government and inter-governmental agencies undertake to waive repayment of under certain prescribed conditions. Forgivable loans are recognised in ‘Other operating income’ where there is reasonable assurance the loan will be waived. 1.24. Gain and loss from sale of subsidiaries, other investments and re-measurement to fair value of pre-existing interest in acquiree Gains and losses on disposal or loss of control of subsidiaries owning only one non-financial asset or a group of similar assets are classified in ‘Other operating income’/’Other operating expenses’ to reflect the substance of the transaction. 1.25. Interest income and expense Interest income and expense is recognised on a time proportion basis using the effective interest method.

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118 1.26. Income tax RTL Group Annual Report 2022 Recognition and measurement of income tax Income tax on the profit or loss for the year comprises current and deferred tax. Income tax is recognised in the income statement except to the extent that it relates to items recognised directly to other comprehensive income. Current tax is the expected tax payable on the taxable income for the year, using tax rates enacted or substantively enacted in the countries in which the Group’s entities operate, and generate taxable income at the reporting date and any adjustment to tax payable in respect of previous years. Deferred taxes are recognised on any temporary difference between the carrying amount for consolidation purposes and the tax base of the Group’s assets and liabilities, as well as for unused tax loss carry forwards and tax credits. Deferred tax assets are recognised to the extent that it is probable that future taxable profits will be available, against which the deductible temporary differences, unused tax credits and tax loss carry forwards can be utilised. Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefit will be realised. Deferred tax is not recognised for: – temporary differences on the initial recognition of assets or liabilities in a transaction that is not a business combination and that affects neither accounting nor taxable profit or loss – temporary differences related to investments in subsidiaries, associates and joint arrangements to the extent that the Group is able to control the timing of the reversal of the temporary differences and it is probable that they will not reverse in the foreseeable future – taxable temporary differences arising on the initial recognition of goodwill. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply to the period when the asset is realised or the liability is settled, based on tax rates that have been enacted or substantively enacted at the reporting date. Deferred tax assets and liabilities are offset when there is a legally enforceable right to set off current tax assets against current tax liabilities and when the deferred income taxes relate to the same tax authority. Global minimum tax In October 2021, more than 130 countries agreed to implement a minimum tax regime for multinational groups, known as Pillar Two, to reform the international corporate taxation. Pillar Two aims to ensure that multinational groups in scope are liable to a minimum effective corporate tax rate of 15 per cent per country. In December 2021, the OECD released the Pillar Two model rules – accompanied by a comment and guidelines – which are due to be passed into national legislation but adapted by local conditions. In Europe, the individual countries enact the related law based on the latest EU directive before 31 December 2023. Management closely monitors the progress of the legislative process in each country in which the Group operates. As at 31 December 2022, the Group did not have sufficient information to determine any potential quantitative impact. 1.27. Discontinued operations A discontinued operation is a component of the Group’s business that represents a separate major line of business or a geographical area of operations that has been disposed of or is held for sale or distribution, or is a subsidiary acquired exclusively with a view to resale. Classification as a discontinued operation occurs upon disposal or when the operation meets the criteria to be classified as held for sale, if earlier. When an operation is classified as a discontinued operation the comparative income statement is re-presented as if the operation had been discontinued from the start of the comparative year. 1.28. Earnings per share Basic earnings per share (EPS) is calculated by dividing the net profit attributable to shareholders by the weighted average number of ordinary shares in issue during the year, excluding ordinary shares purchased by the Group and held as treasury shares and the shares held under the liquidity programme, if any. The diluted earnings per share is calculated by adjusting the weighted average number of ordinary shares outstanding to assume conversion of all dilutive potential ordinary shares. There is currently no category of dilutive potential ordinary shares.

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Notes to the consolidated financial statements 119 1.29. Segment reporting Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision-maker. The chief operating decision-maker, who is responsible for allocating resources and assessing the performance of the operating segments, has been identified as the Executive Committee of RTL Group, which makes strategic decisions. An operating segment is a component of the Group that engages in business activities from which it may earn revenue and incur expenses, including revenue and expenses that relate to transactions with any of the Group’s other components. The operating results of all operating segments are regularly reviewed by the Group’s Executive Committee, which makes decisions about resources to be allocated to the segment and assesses its performance, and for which discrete financial information is available. The invested capital is disclosed for each reportable segment as reported to the Group’s Executive Committee. Invested capital is calculated on the basis of the Group’s operating assets (right-of-use assets included) less non-interest bearing operating liabilities (lease liabilities not included). Intercompany revenues are recognised using the same arm’s-length conditions applied to transactions with third parties. No measure of segment assets and liabilities other than invested capital is reported to the Group’s Executive Committee. 1.30. Prior year information In December 2021, Groupe M6 acquired a 2 per cent stake in Stéphane Plaza Immobilier, in which it already held a 49 per cent shareholding. As a result of obtaining control, the investment previously accounted for using the equity method is fully consolidated from the date of acquisition. The initial accounting for the acquisition had not yet been completed in the last financial year. During the measurement period in 2022, the provisional amounts recognised at the acquisition date were retrospectively adjusted to reflect new information obtained about facts and circumstances that existed as at the acquisition date. In accordance with IFRS 3.49, goodwill from the acquisition of Stéphane Plaza Immobilier was decreased from € 56 million to € 23 million. The decrease results mainly from the valuation of intangible assets acquired for € 88 million in total (consisting of € 51 million for brands and € 37 million for customer relationships) and respective adjustments in the deferred tax liability for € 23 million as well as non-controlling interests for € 32 million. Due to the finalisation of the purchase price allocation in 2022 the figures from the previous year in the consolidated statement of financial position have been adjusted accordingly. Further information is presented in note 4.2. 2. Accounting judgements and estimates Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The Group makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below. 2.1. Consolidation of entities in which the Group holds less than 50 per cent Even though the Group has less than 50 per cent of the voting rights of Groupe M6, management considers that the Group has control of Groupe M6. The Group is the controlling shareholder of Groupe M6 while the balance of other holdings remains highly dispersed and the other shareholders have not organised their interest in such a way that they intend to vote differently from the Group.

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120 RTL Group Annual Report 2022 2.2. Significant influence with less than 20 per cent Although the Group holds less than 20 per cent of the equity shares of Atresmedia, management consider that the Group exercises a significant influence in Atresmedia in view of the representation of RTL Group on the Board of Directors and other governing bodies of Atresmedia. 2.3. Lease accounting Extension and termination options are included in several real estate leases across the Group. The Group applies judgement in evaluating whether it is reasonably certain to exercise the option and considers all relevant factors that create an economic incentive to exercise the option. After the commencement date, the Group re-assesses the lease term if there is a significant event or change in circumstances that is within its control and affects its ability to exercise the option or not. Most of the extension and termination options held are exercisable only by the Group and not by the respective lessor. Incremental borrowing rates determined by currency and maturity are updated on a yearly basis unless a triggering event occurs. 2.4. Programme and other rights (assets and provisions for onerous contracts) The Group’s accounting for non-current programme rights requires estimates by management as it relates to total net revenue used in the determination of the amortisation charge and impairment loss for the year. In addition, management estimates must consider factors such as the future programme grid, the realised/ expected audience of the programme, the current programme rights that are not likely to be broadcast, and the related valuation allowance. Provisions for onerous contracts related to programme and other rights are also recognised when the Group has constructive obligations, and it is probable that unavoidable costs exceed the economic benefits originally planned. These provisions have been determined by discounting the expected future cash inflows for which the amount and timing are dependent on future events. 2.5. Estimated impairment of goodwill, intangible assets with indefinite useful life and investments accounted for using the equity method The Group tests at least annually whether goodwill and intangible assets with indefinite useful life have suffered any impairment. The Group also tests annually whether investments accounted for using the equity method have suffered any impairment, and if any impairment should be reversed. The Group has used a combination of long-term trends, industry forecasts and in-house knowledge – with greater emphasis on recent experience – in forming its assumptions about the development of the various advertising markets in which the Group operates. This is an area highly exposed to general economic conditions. The state of the advertising market is just one of the key operational drivers used by the Group to assess individual business models. Other key drivers (non-IFRS measures) include audience shares, advertising market shares, EBITA and EBITA margin, and operating cash conversion rates. Each of these elements is variable, inter-related and difficult to isolate as the main driver of the various business models and respective valuations. The Group performs sensitivity analysis of the recoverable amount of the cash-generating units, especially on those where the headroom between the recoverable amount and the carrying amount is low. 2.6. Contingent consideration and put option liabilities on non-controlling interests Contingent consideration, resulting from business combinations, is valued at fair value at the acquisition date as part of the business combination, and subsequently re-measured at each reporting date. The determination of the fair value is based on discounted cash flow and takes into account the probability of meeting each performance target. Put option liabilities on non-controlling interests are recognised at the present value of the redemption amount in case of exercise of the option by the counterparty. 2.7. Fair value of equity instruments at fair value through OCI The Group has used discounted cash flow analysis for the equity instruments at FVOCI that were not traded in active markets.

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Notes to the consolidated financial statements 121 2.8. Assets held for sale and discontinued operations The determination of the fair value less costs to sell requires management judgement as it relates to estimates of proceeds of the disposal, residual obligations and direct disposal costs. The classification as assets held for sale and discontinued operations also requires management judgement. 2.9. Provisions for litigations Most claims involve complex issues, and the probability of loss and an estimation of damages are difficult to ascertain. A provision is recognised when the risk of a loss becomes more likely than not and when it is possible to make a reasonable estimate of the expected financial effect. RTL Group management reviews on a regular basis the expected settlement of the provisions. 2.10. Income tax, deferred tax and other taxes The Group is subject to income and other taxes in numerous jurisdictions. There are transactions and calculations for which the ultimate tax determination is uncertain during the ordinary course of business. Uncertain tax positions and future tax benefits are based on assumptions and estimations that may arise from the interpretation of tax regulations. An asset or liability arising from an uncertain tax position is recognised in accordance with IAS 12 if a payment or reimbursement for the uncertain tax position is probable. The valuation of the uncertain tax positions is based on their most probable amount in accordance with IFRIC 23. Deferred tax assets are recognised in the amount in which they are likely to be utilised later. Various factors are used to assess the probability of the future usability of deferred tax assets. This includes past profit and loss, corporate planning and tax planning strategies, and loss periods. 2.11. Post-employment benefits Post-employment benefits rely on several assumptions such as: – The discount rate determined by reference to market yields at the closing on high quality corporate bonds (such as corporate AA bonds) and depending on the duration of the plan – Estimation of future salary increases, mainly taking into account inflation, seniority, promotion, and supply and demand in the employment market. 2.12. Recognition of revenue In the event of return rights, mostly for print products, estimates must be made with regard to the anticipated return volume, as revenues are recognised taking the anticipated returns into account. Return ratios determined using statistical methods are used to identify the anticipated returns. The transaction prices to be determined using the contract-based five-step model defined in IFRS 15 often include both fixed and variable consideration. The variable components are determined on the basis of estimates, which are made and updated in accordance with constraint conditions. For various business models, qualitative estimates must be made as part of principal- agent considerations as to who is to be regarded as a customer of an RTL Group company and whether an RTL Group company is to be regarded as principal or agent in a transaction. 2.13. Contingent liabilities Contingent liabilities are disclosed unless management considers that the likelihood of an outflow of economic benefits is remote.

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122 3. Segment reporting RTL Group Annual Report 2022 The determination of the Group’s operating segments is based on the operational and management-related entities for which information is reported to the Executive Committee. The Group has 14 business units (of which Atresmedia is accounted for using the equity method) at 31 December 2022, each one led by a CEO. The Group owns interests in 56 television channels, nine streaming services and 36 radio stations, of which 10 TV channels, three radio stations and a streaming service are held by Atresmedia as an associate (see note 6.5.2). In addition, Fremantle and We Are Era operate global/multi-territory networks in content, digital video and advertising technology businesses. The following reported segments meet the quantitative thresholds required by IFRS 8: – RTL Deutschland: RTL Deutschland is the Group’s largest business unit and Germany’s first cross-media champion, operating across TV, streaming, radio, digital and publishing. RTL Deutschland owns 15 TV channels, 50 premium magazines, a broad podcast portfolio and numerous digital offerings, such as chefkoch.de and wetter.de. RTL Radio is one of Germany’s largest privately owned radio groups, with holdings in 17 stations including Antenne Bayern and Radio Hamburg – Groupe M6: this segment represents a multimedia group in France which focuses on three areas: television (13 channels including M6, the second largest commercial channel in the French market), radio (three stations including RTL, the leading radio station in France) and digital (AVOD platforms and several special interest portals) – Fremantle: RTL Group’s global content production business includes a significant distribution and licensing business (international) and operates in 27 countries – RTL Nederland: this segment covers television broadcasting and a wide range of digital and diversification activities. The business unit includes five free-to-air television channels, an independent news organisation, the leading local streaming service Videoland, three digital pay-TV channels and the digital weather platform Buienradar. The revenue of ‘Other segments’ amounts to € 411 million (2021: € 604 million). The major contributors are RTL Hungary with € 113 million (2021: € 116 million), We Are Era with € 64 million (2021: € 62 million), RTL Belgium (before disposal) with € 40 million (2021: € 176 million), and RTL Croatia (before disposal) with € 19 million (2021: € 46 million). The Group’s Corporate Centre, which provides services and initiates projects, is also reported in ‘Other segments’. RTL Group’s Executive Committee primarily assesses the performance of the operating segments based on Adjusted EBITA. Interest income, interest expense, other financial income, other financial expense and income tax are not allocated to segments, as these are centrally managed. Inter-segment pricing is determined on an arm’s length basis. The Executive Committee also reviews, on a regular basis, the amount of the invested capital of each business unit. As a rule, all management financial information reported to RTL Group’s Executive Committee is fully compliant and consistent with the Group’s accounting policies and primary statements, except intercompany leases. For segment reporting, intercompany leases are presented as operating leases with income and expenses recognised using the straight-line method in accordance with IFRS 8, in line with internal management.

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Notes to the consolidated financial statements 123 3.1. Segment information Revenue from external customers Inter-segment revenue Total revenue Depreciation, amortisation and impairment including on goodwill and on fair value adjustments on acquisitions of subsidiaries Share of results of investments accounted for using the equity method Impairment and reversals of investments accounted for using the equity method Adjusted EBITA Adjusted EBITA margin Invested capital RTL Deutschland Groupe M6 Fremantle RTL Nederland Other segments44 Eliminations Total Group 2022 € m 2021 € m 2022 € m 2021 € m 2022 € m 2021 € m 2,766 2,422 1,352 1,379 2,147 1,727 199 2,766 2,425 1,357 1,390 2,347 1,926 200 – 11 3 5 2022 € m 635 1 636 2021 € m 577 (2) 575 2022 € m 324 87 411 2021 € m 532 2022 € m – 2021 € m 2022 € m 2021 € m – 7,224 6,637 72 (293) (283) – – 604 (293) (283) 7,224 6,637 (76) (43) (105) (95) (62) (43) (9) (9) (34) (38) – – (286) (228) 25 32 (34) (26) 1 2 – – 22 19 – – 14 27 (5) 459 – 541 – 304 2 329 16.6% 22.3% 22.4% 23.7% 1,464 963 1,419 1,370 1,980 1,610 – 107 – 162 – 161 – 141 – 33 6.9% 7.3% 25.3% 18.6% (2.9)% 5.5% 623 – (12) 167 165 390 – 9 n/a 5 (5) – 2 1 1,083 1,152 n/a 15.0 % 17.4% (3) 5,425 4,728 The following table shows the reconciliation of segment information to the consolidated financial statements. Adjusted EBITA Impairment of goodwill of subsidiaries Amortisation and impairment of fair value adjustments on acquisitions of subsidiaries Impairment and reversals of investments accounted for using the equity method Impairment and reversals on other financial assets at amortised cost Re-measurement of earn-out arrangements Fair value measurement of investments Gain/(loss) from sale of subsidiaries, other investments and re-measurement to fair value of pre-existing interest in acquiree Significant special items Earnings before interest and taxes (EBIT) Financial result Profit before tax Income tax expense Group profit 2022 € m 1,083 – (46) (5) (30) – (78) 107 (44) 987 (55) 932 (166) 766 2021 € m 1,152 – (19) 2 – – (115) 949 (61) 1,908 (27) 1,881 (427) 1,454 In 2022, ‘Significant special items’ reflects restructuring and integration costs in Germany (€–33 million) following the Gruner + Jahr transaction as well as the impact of expenses in connection with strategic portfolio management (€–11 million). In 2021, ‘Significant special items’ reflected the impact of restructuring expenses at RTL Deutschland (€–38 million), reversal of negative effects from onerous advertising sales contracts (€10 million) and the impact of expenses in connection with strategic portfolio management (€–33 million). 44 Other segments include the Adjusted EBITA loss of € –31 million generated by Group Corporate Centre (2021: € –34 million)

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124 RTL Group Annual Report 2022 3.2. Geographical information Geographical areas are based on where customers (revenue) and the Group’s non-current assets are located. Goodwill has been allocated to a geographical area based on whether the Group’s risks and returns are affected predominantly by the products and services it produces. Germany France United States The Netherlands UK Belgium Other regions Total Revenue from external customers Non-current assets45 1,738 1,465 1,183 1,193 Assets held for sale Capital expenditure 2,606 2,241 1,367 1,392 1,003 507 173 391 256 114 – – – – – 28 – 53 – 7 – 10 2022 € m 2021 € m 2022 € m 2021 € m 2022 € m 2021 € m 901 481 2022 € m 628 336 2021 € m 610 338 2022 € m 319 559 – 136 2021 € m 233 435 – 5 2022 € m 2021 € m 2022 € m 2021 € m 2022 € m 2021 € m 72 2 2 – 164 6 2 203 1,229 1,057 7,224 6,637 242 4,585 4,156 – 196 580 32 77 260 735 – 57 The revenue generated in Luxembourg amounts to € 91 million (2021: € 75 million). The total of non-current assets other than investments accounted for using the equity method, financial instruments, deferred tax assets and post-employment benefit assets located in Luxembourg amounts to € 60 million (2021: € 66 million). 4. Group composition 4.1. Scope of consolidation RTL Deutschland, Fremantle and RTL Nederland are wholly owned by RTL Group. Additionally, RTL Group is the controlling shareholder of Groupe M6 with ownership interest of 48.4 per cent (after considering treasury shares held by Groupe M6), and groups further investments under ‘Other segments’, in 2022 including RTL Hungary, Atresmedia and We Are Era (in 2021 including RTL Belgium, RTL Croatia, RTL Hungary, Atresmedia and We Are Era). The following table shows the composition of the scope of consolidation excluding the parent company RTL Group SA, based in Luxembourg: RTL Deutschland Groupe M6 Fremantle RTL Nederland Other segments Total Subsidiaries Joint ventures46 Associates46 Total 2022 67 47 174 8 39 335 2021 50 49 104 6 54 263 2022 2 5 2 2 – 11 2021 2 4 1 2 – 9 2022 14 4 1 2 3 24 2021 13 3 1 2 3 22 2022 83 56 177 12 42 370 2021 65 56 106 10 57 294 45 Non-current assets comprise intangible assets (including goodwill), property, plant and equipment and right-of- use assets 46 The joint ventures and associates included in the table are investments accounted for using the equity method

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Notes to the consolidated financial statements 125 The following table shows the changes of the scope of consolidation excluding the parent company RTL Group SA, based in Luxembourg: Consolidated as at 31 December 2021 Additions Disposals Consolidated as at 31 December 2022 Germany France United States The Netherlands 69 17 2 84 62 4 3 63 22 23 1 44 21 – – 21 UK 18 40 – 58 Belgium Other regions 10 – 8 2 92 23 17 98 Total 294 107 31 370 A total of 61 (2021: 64) companies were excluded from the scope of consolidation. These consist of entities without significant business operations and of negligible importance for the financial position and financial performance of RTL Group as a whole. The complete list of RTL Group’s undertakings as at 31 December 2022 is presented in note 12. 4.2. Acquisitions In the financial year 2022, the cash flow from acquisition activities – without acquisition of businesses under common control – totalled €–113 million (2021: €–136 million), of which, after consideration of cash and cash equivalents acquired, €–110 million relates to new acquisitions during the reporting period. Considering the acquisition of businesses under common control, the total cash flow from acquisition activities amounted to €53 million (2021: €−353 million). The consideration transferred in accordance with IFRS 3 amounted to €189 million (2021: € 190 million) taking into account contingent consideration of € 22 million (2021: € nil million). In addition, put options were recognised in the amount of € 149 million (2021: € 38 million) in connection with the acquisitions. In March 2022, Fremantle acquired 70 per cent of Lux Vide, Italy’s leading independent television production company. The acquisition of Lux Vide forms part of Fremantle's growth strategy to invest in premium production companies, content creators, and talents from around the world – developing and securing original formats and exclusive IP. The consideration transferred amounted to € 43 million and was fully paid in cash. The purchase price allocation resulted in goodwill of € 8 million, mainly reflecting the expertise of the management and synergy potential with Fremantle. Goodwill is not tax deductible and was allocated to the Fremantle cash-generating unit. Furthermore, in connection with the acquisition, the related put options on the remaining 30 per cent share capital were recognised for an amount of € 32 million through equity for the present value of the redemption amount. In the financial year 2022, transaction-related costs amounted to € 1 million and have been recognised in profit or loss as other operating expenses. Since the initial consolidation, Lux Vide has contributed € 56 million to Group revenue and € 6 million to Group profit or loss. If consolidated as at 1 January 2022, Lux Vide would have contributed € 67 million to Group revenue and € 7 million to Group profit or loss. In April 2022, Fremantle acquired a further 36 per cent of the shares in Dancing Ledge Productions. RTL Group’s shareholding in Dancing Ledge Productions is now 61 per cent. The acquisition underlines Fremantle’s strategic plan to invest in and grow premium production companies and creative talents from around the world. As a result of obtaining control, the investment previously accounted for using the equity method is fully consolidated from the date of acquisition. The consideration transferred in terms of IFRS 3 was € 6 million and was fully paid in cash. Obtaining control led to a derecognition of the associate previously accounted for using the equity method, the fair value of which amounted to € 3 million immediately before the acquisition date. The re-measurement of the investment already held resulted in an income of € 3 million recognised in ‘Gain/(loss) from sale of subsidiaries, other investments and re-measurement to fair value of pre-existing interest in acquiree’. The purchase price allocation resulted in goodwill of € 5 million, mainly reflecting growth opportunities in the UK market and international distribution opportunities for their content. Goodwill is not tax deductible and was allocated to the Fremantle cash-generating unit. Furthermore, in connection with the acquisition, the related put option on the 39 per cent share capital was recognised for an amount of € 9 million through equity for the present value of the redemption amount. In the financial year 2022, transaction-related costs were insignificant and have been recognised in profit or loss as other operating expenses. Since the initial consolidation, Dancing Ledge Productions has contributed € 32 million to Group revenue and € nil million to Group profit or loss. If consolidated as at 1 January 2022, Dancing Ledge Productions would have contributed € 32 million to Group revenue and € nil million to Group profit or loss.

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126 RTL Group Annual Report 2022 In May 2022, Fremantle acquired 51 per cent of Element Pictures, the production company behind Academy Award, Golden Globe and BAFTA-winning films The Favourite and Room, the global drama Normal People, and the mini-series Conversations With Friends. The acquisition of Element Pictures also forms part of Fremantle's growth strategy to invest in premium production companies, content, and talents around the world to source the best creative ideas, and to develop and create strong and exclusive IP. The consideration transferred amounted to € 56 million and comprises a purchase price payment already made in the amount of € 46 million and a contingent consideration in the amount of € 10 million. The purchase price allocation resulted in goodwill of € 51 million, mainly reflecting synergies with Fremantle and international distribution growth opportunities. Goodwill is not tax deductible and was allocated to the Fremantle cash-generating unit. Furthermore, in connection with the acquisition, the related put options on the remaining 49 per cent share capital were recognised for an amount of € 54 million through equity for the present value of the redemption amount. In the financial year 2022, transaction-related costs amounted to € 1 million and have been recognised in profit or loss as other operating expenses. Since the initial consolidation, Element Pictures has contributed € 51 million to Group revenue and € 5 million to Group profit or loss. If consolidated as at 1 January 2022, Element Pictures would have contributed € 66 million to Group revenue and €–2 million to Group profit or loss. In May 2022, Smartclip – the ad-tech business of RTL Deutschland – acquired 100 per cent of Realytics, a French ad-tech company that is spearheading the convergence between TV and digital in Europe. The combined ad-tech solutions of Smartclip and Realytics help to measure the impact of TV campaigns on websites. The integration of Paris-based Realytics into Smartclip’s ad-tech stack marks Smartclip’s entry into the French market. The consideration transferred amounted to €7 million and was fully paid in cash. The purchase price allocation resulted in goodwill of € 8 million, mainly reflecting revenue synergies by the roll-out of Realytics’ offerings across other RTL Group countries and cost synergies. Goodwill is not tax deductible and was allocated to the RTL Deutschland cash-generating unit. In the financial year 2022, transaction-related costs were insignificant and have been recognised in profit or loss as other operating expenses. Since the initial consolidation, Realytics has contributed € 1 million to Group revenue and €−2 million to Group profit or loss. If consolidated as at 1 January 2022, Realytics would have contributed € 2 million to Group revenue and €−3 million to Group profit or loss. In November 2022, Fremantle acquired 55 per cent of 72 Films, an independent TV production company focusing on documentaries and factual entertainment. The acquisition further underlines Fremantle’s strategic plan to invest in and help develop premium production companies with exceptional creative talents. The consideration transferred amounted to € 51 million, of which € 44 million was paid in cash. Earn-out consideration amounted to € 7 million. The preliminary purchase price allocation at a very early stage resulted in provisional goodwill of € 50 million, mainly reflecting the expertise of the management and synergy potential with Fremantle. Goodwill is not tax deductible and was allocated to the Fremantle cash-generating unit. Further, in connection with the acquisition, the related put options on the remaining 45 per cent share capital were recognised for an amount of € 39 million through equity for the present value of the redemption amount. In the financial year 2022, transaction-related costs amounted to € 1 million and have been recognised in profit or loss as other operating expenses. Since the initial consolidation, 72 Films has contributed € 3 million to Group revenue and € nil million to Group profit or loss. If consolidated as at 1 January 2022, 72 Films would have contributed € 25 million to Group revenue and € 2 million to Group profit or loss. Also in November 2022, Fremantle acquired 51 per cent of Wildstar Films, a production company focused on natural history documentaries. The acquisition is in line with Fremantle’s strategic plan to invest in and develop premium production companies and creative talents from around the world. The consideration transferred amounted to € 19 million, of which € 13 million was paid in cash. The earn-out consideration amounted to € 5 million and the deferred payment to € 1 million. The preliminary purchase price allocation at a very early stage resulted in provisional goodwill of € 14 million, mainly reflecting the expertise of the management and synergy potential with Fremantle. Goodwill is not tax deductible and was allocated to the Fremantle cash- generating unit. Further, in connection with the acquisition, the related put option on the remaining 49 per cent share capital was recognised for an amount of € 15 million through equity for the present value of the redemption amount. In the financial year 2022, transaction-related costs amounted to € 1 million and have been recognised in profit or loss as other operating expenses. Since the initial consolidation, Wildstar Films has contributed € 7 million to Group revenue and € 1 million to Group profit or loss. If consolidated as at 1 January 2022, Wildstar Films would have contributed € 62 million to Group revenue and € 4 million to Group profit or loss. At the time the consolidated financial statements were authorised for issue, RTL Group had not yet completed the accounting for the acquisitions of 72 Films and Wildstar Films. As the valuations have not yet been finalised, the fair values of identifiable assets – especially intangible assets – and liabilities acquired have only been determined provisionally and have not been recognised accordingly. The accounting for these acquisitions will be revised in 2023 based on facts and circumstances that existed at the date of gain of control.

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Notes to the consolidated financial statements 127 In addition, RTL Group made further acquisitions in the financial year 2022, none of which were material on a standalone basis. The consideration transferred in terms of IFRS 3 for other minor acquisitions amounted to € 7 million. Other acquisitions resulted in goodwill totalling € 4 million, which reflects synergy potential and is not tax deductible. Transaction-related costs were insignificant in the financial year 2022 and have been recognised in profit or loss. The purchase price allocations consider all the facts and circumstances prevailing as at the respective dates of acquisition that were known prior to the preparation of the consolidated financial statements. In accordance with IFRS 3, should further facts and circumstances become known within the 12-month measurement period, the purchase price allocation will be adjusted accordingly. In accordance with IFRS 3, the fair values of the identifiable assets, liabilities and contingent liabilities acquired are measured primarily using the market price-oriented method. According to this method, assets and liabilities are measured at the prices observed in active markets. If measurement using the market price-oriented method is not feasible, the capital value-oriented method is generally applied. According to that method, the fair value of an asset or a liability corresponds to the present value of the future cash inflows or outflows (cash flows). The following table shows the fair values of the assets and liabilities of the acquisitions on their dates of initial consolidation based on the purchase price allocations, some of which are currently preliminary: Non-current assets Programme and other rights Other intangible assets Property, plant and equipment Right-of-use assets Other non-current assets Current assets Programme rights Trade and other accounts receivable Other current assets Cash and cash equivalents Liabilities Loans and bank overdrafts Lease liabilities Other liabilities Net assets acquired Goodwill Non-controlling interests Fair value of pre-existing interests Consideration transferred according to IFRS 3 Less earn-out consideration Less other deferred consideration Consideration paid in cash Cash and cash equivalents acquired Financial debt repaid at closing Cash outflow/(inflow) on acquisitions in terms of IFRS 3 Dancing Ledge Productions € m – 5 – – – 34 2 – 7 – – (42) 6 5 (2) (3) 6 – – 6 (7) – Lux Vide € m – 10 8 9 – 42 37 28 3 (32) (5) (50) 50 8 (15) – 43 – – 43 (3) – Element Pictures € m – 13 1 1 1 72 4 – 20 (7) (1) (93) 11 51 (6) – 56 (10) – 46 (20) – Realytics € m – 5 – – – – – 1 2 (4) – (5) (1) 8 – – 7 – – 7 (2) 3 72 Films € m – – 1 – 2 12 4 1 7 – – (25) 2 50 (1) Wildstar Films € m – – 3 2 – – 7 3 17 – (2) (21) 9 14 (4) – – 51 (7) – 44 (7) – 19 (5) (1) 13 (17) – Other € m 1 – – – 1 – 1 – 3 – – (1) 5 4 – (2) 7 – – 7 (3) – Total € m 1 33 13 12 4 160 55 33 59 (43) (8) (237) 82 140 (28) (5) 189 (22) (1) 166 (59) 3 40 (1) 26 8 37 (4) 4 110 On the acquisition date, the fair value of the acquired receivables was € 55 million. Of that amount, € 52 million is attributable to trade receivables and € 3 million to other receivables. Trade receivables are impaired in the amount of € –1 million, so that the gross amount of trade receivables amounts to € 53 million. The other receivables were not impaired, so that the fair value is equal to the gross amount.

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128 RTL Group Annual Report 2022 Since initial consolidation, all new acquisitions in accordance with IFRS 3 in the financial year 2022 have contributed € 150 million to revenue and € 10 million to Group profit. If consolidated as at 1 January 2022, these would have contributed € 253 million to revenue and € 7 million to Group profit. In addition, RTL Group made transactions under common control in the financial year 2022. In January 2022, RTL Deutschland acquired 100 per cent of the share capital of Gruner + Jahr Deutschland GmbH. The acquisition was preceded by the decision of RTL Group in August 2021 to acquire Gruner + Jahr’s German publishing assets and brands from Bertelsmann to create a German cross-media champion across TV, streaming, print, radio and digital. As part of the Gruner + Jahr acquisition, 50 per cent of the capital of Deutsche Medien Manufaktur (DMM) was transferred downstream to RTL Deutschland in April 2022. The total consideration transferred – including final working capital adjustment – amounted to € 228 million, of which € 210 million was paid in 2021. Considering cash acquired of € 181 million, the net cash inflows from the transaction amount to € 166 million in 2022. The transactions were accounted for as a transaction under common control, whereby RTL Group applies the accounting policy choice to recognise assets acquired and liabilities assumed at carrying amounts, while the difference between assets/liabilities and consideration transferred amounted to € 16 million, recognised in equity under ‘Other changes’. The following table provides an outline of the impact of the transaction on RTL Group’s financial position: Non-current assets Goodwill Other intangible assets Property, plant and equipment Right-of-use assets Investments accounted for using the equity method Other non-current assets Deferred tax assets Current assets Other inventories Trade and other accounts receivable Other current assets Cash and cash equivalents Liabilities Provisions for pensions and similar obligations Lease liabilities Income tax payable Trade and other accounts payable Other liabilities Contract liabilities Other provisions Deferred tax liabilities Net assets acquired Total € m 179 18 3 4 13 7 23 13 50 7 181 (96) (4) (31) (82) (10) (46) (15) (2) 212 The following table summarises the total cash flow from acquisition activities during the financial year 2022: Cash outflow/(inflow) on acquisitions in terms of IFRS 3 Cash outflow/(inflow) on acquisition of businesses under common control Payments on prior years’ acquisitions Total cash flow from acquisition activities 2022 € m 110 (166) 3 (53) 2021 € m 135 217 1 353

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Notes to the consolidated financial statements 129 In December 2021, Groupe M6 finalised the acquisition of a 2 per cent stake in Stéphane Plaza Immobilier, in which it already held a 49 per cent shareholding, thereby assuming control of this network of franchised estate agents. As a result of obtaining control, the investment previously accounted for using the equity method was fully consolidated from the date of acquisition. The consideration transferred in terms of IFRS 3 was € 3 million. The final purchase price allocation was completed in the second half 2022 and thus the figures from the previous year in the consolidated statement of financial position have been adjusted accordingly. The following table summarises the recognised amounts of assets acquired and liabilities assumed after completion of the purchase price allocation in comparison with published financial statements for the year-end 2021. Non-current assets Programme and other rights Other intangible assets Property, plant and equipment Right-of-use assets Other non-current assets Current assets Programme rights Trade and other accounts receivable Other current assets Cash and cash equivalents Liabilities Lease liabilities Other liabilities Net assets acquired Goodwill Non-controlling interests Fair value of pre-existing interests Consideration transferred according to IFRS 3 4.3. Disposals Stéphane Plaza Immobilier Published in Restated 2021 2021 € m – – 88 – – – – – – 18 – (26) 80 23 (39) (61) 3 € m – – – – – – – – – 18 – (3) 15 56 (7) (61) 3 In March 2022, RTL Group sold its interests held in RTL Belgium to the Belgian media companies DPG Media and Groupe Rossel which resulted in net cash inflows of € 154 million. Net of transaction-related costs, the transaction resulted in an overall gain of € 102 million recognised in ‘Gain/(loss) from sale of subsidiaries, other investments and re-measurement to fair value of pre-existing interest in acquiree’. RTL Group’s shareholders will benefit from the transaction in line with the stated dividend policy. In June 2022, RTL Group sold its interests held in RTL Croatia to Central European Media Enterprises (CME) for € 41 million net of cash disposed of. Net of transaction-related costs, the transaction resulted in an overall gain of € 16 million recognised in ‘Gain/(loss) from sale of subsidiaries, other investments and re-measurement to fair value of pre-existing interest in acquiree’. In addition, RTL Group has agreed to a long-term trademark licensing agreement with the buyer. RTL Group’s shareholders will benefit from the cash proceeds in line with the stated dividend policy. During the financial year 2022 RTL Group sold other subsidiaries, none of which was material on a standalone basis. In total, the impact of these disposals on the Group’s financial position and financial performance was also minor.

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130 RTL Group Annual Report 2022 From all disposals in the financial year 2022, RTL Group generated cash flows totalling € 194 million (2021: € 665 million) after considering cash and cash equivalents disposed of. The disposals led to a gain from deconsolidation of € 112 million (2021: € 776 million), which is recognised in ‘Gain/(loss) from sale of subsidiaries, other investments and re-measurement to fair value of pre-existing interest in acquiree’. The following table shows their impact on RTL Group’s assets and liabilities at the time of deconsolidation. Non-current assets Goodwill Other intangible assets Property, plant and equipment Right-of-use assets Loans and other non-current assets Deferred tax assets Current assets Programme rights Other inventories Accounts receivable and other current assets Other current assets Cash and cash equivalents Liabilities Income tax payable Deferred tax liabilities Lease liabilities Provisions Accounts payable and other liabilities Contract liabilities Net assets disposed of 4.4. Other information RTL Belgium € m 32 3 14 26 – 5 28 – 49 5 51 (3) (2) (26) (15) (60) (2) 105 RTL Croatia € m – 4 4 5 – 2 16 – 14 1 2 – – (5) – (18) – 25 Other € m 1 – 1 1 – 1 – 5 9 1 3 – – (1) – (6) – 15 Total € m 33 7 19 32 – 8 44 5 72 7 56 (3) (2) (32) (15) (84) (2) 145 In September 2022, Groupe Bouygues, RTL Group, Groupe TF1 and Groupe M6 decided to call off their plan to merge Groupe TF1 and Groupe M6. Following this decision, RTL Group received several financially attractive offers for its controlling stake in Groupe M6. However, RTL Group considered the legal risks and uncertainties to be too high, due to the required approval processes from the antitrust and media authorities, and the timing for the upcoming license renewal for the main channel M6. RTL Group has thus decided not to sell or reduce its shareholding in Groupe M6. In January 2023, the Dutch competition authority ACM informed RTL Group and Talpa Network that the authority will not approve the proposed merger of RTL Nederland and Talpa Network, initially announced on 22 June 2021. Since the initial announcement of the planned transaction, RTL Group and Talpa Network have fully cooperated with ACM during its in-depth review. Most recently, both parties made proposals to address and mitigate the concerns raised by ACM regarding the position of the combined group in the Dutch TV advertising market. The proposed remedy was to completely outsource the advertising sales of Talpa Network’s TV channels to Mediahuis Nederland. However, ACM has indicated to RTL Group and Talpa Network that the market test did not sufficiently mitigate its concerns. This stops the current merger process. ACM will likely need a few weeks to finalise the formal decision. RTL Group and Talpa Network continue to firmly believe that a merger of RTL Nederland and Talpa Network would have been the right strategic response to the challenges resulting from the increased competition with the international platforms.

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Notes to the consolidated financial statements 131 5. Details on consolidated income statement 5.1. Revenue Revenue is disaggregated below by nature and timing of recognition. The table also includes a reconciliation with reportable segments. RTL Deutschland Groupe M6 Fremantle RTL Nederland Other segments Total Group 2022 € m 2021 € m 2022 € m 2021 € m Revenue from advertising 2,053 1,937 1,084 1,126 Revenue from exploitation of programmes, rights and other assets Revenue from selling goods and merchandise and providing services 334 302 174 94 81 379 17 2,766 2,422 1,352 1,379 2,147 1,727 183 19 Timing of revenue recognition At a point in time Over time 88 353 103 2,035 1,674 2,413 2,334 1,258 1,276 53 2,766 2,422 1,352 1,379 2,147 1,727 94 112 2022 € m 16 2021 € m 21 2022 € m 403 2021 € m 362 2022 € m 166 2021 € m 2022 € m 2021 € m 328 3,722 3,774 172 2,112 1,689 206 189 89 106 2,915 2,458 26 635 26 577 69 324 1 634 635 – 577 577 63 261 324 98 587 405 532 7,224 6,637 72 2,546 1,937 460 4,678 4,700 532 7,224 6,637 The increase in ‘Revenue from exploitation of programmes, rights and other assets’ is mainly due to the several acquisitions conducted by Fremantle and its organic growth. The increase in ‘Revenue from selling goods and merchandise and providing services’ is mainly due to publishing business through the acquisition of Gruner + Jahr’s German publishing assets and brands. The following table shows how much of the revenue recognised in the reporting period relates to carried forward contract liabilities and how much relates to performance obligations that were satisfied in previous periods: Revenue recognised that was included in the contract liabilities balance at the beginning of the period Revenue recognised from performance obligations satisfied in previous periods 2022 € m 553 – 2021 € m 358 – As at 31 December 2022, RTL Group expects future revenues from existing long-term agreements of € 77 million (2021: € 17 million), which will be attributable to unsatisfied (or partially unsatisfied) performance obligations as at the end of the reporting period and is expected to be recognised in the amount of € 41 million (2021: € 16 million) in the next financial year and in the amount of € 36 million (2021: € 1 million) in the following years. The increase in current contract liabilities from € 449 million at 31 December 2021 to € 596 million at 31 December 2022 is due to the increased volume of activity still to be completed on Fremantle productions. 5.2. Other operating income The other operating income amounting to € 84 million (2021: € 88 million) was characterised by a decline in Groupe M6 due to higher tax credits and operating subsidies in the prior year, partly balanced by scope effects in RTL Deutschland following the acquisition of Gruner + Jahr.

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132 5.3. Other operating expenses Employee benefits expenses Production subcontracting expenses Intellectual property expenses Expenses related to live programmes Repairs and maintenance Marketing and promotion expenses Transmission expenses including satellite capacity Audit and consulting fees Fair value measurement of investments Consumption of other inventories Operating taxes Valuation allowance Rentals and other lease expenses Marketing and promotion barter expenses Commissions on sales Administration and sundry expenses RTL Group Annual Report 2022 2022 € m 1,335 461 312 262 160 157 90 80 78 58 55 44 38 23 16 88 3,257 2021 € m 1,159 392 342 339 125 131 91 88 115 24 64 1 27 30 4 123 3,055 In the financial years 2022 and 2021, the item ‘Fair value measurement of investments’ mainly included effects from the valuation of Magnite shares and VideoAmp shares. The item ‘Valuation allowance’ includes the impairment of the loan provided by Groupe M6 to Salto (see note 6.5.1). The item ‘Rentals and other lease expenses’ includes expenses from short-term leases of € 17 million (2021: € 12 million) and expenses for low-value assets for € nil million (2021: € nil million). Expenses from variable lease payments, which are not included in the lease liabilities, are immaterial for RTL Group. The item ‘Audit and consulting fees’ includes fees related to the Group’s auditor, KPMG, and its affiliates regarding continuing operations. These are set out below: Audit services pursuant to legislation Audit-related services Non-audit services Employee benefits expenses are set out in more detail below: Wages and salaries Termination benefits Social security costs Share options granted to employees Pension costs Other employee expenses Of which restructuring costs 2022 € m 3.8 0.5 0.3 4.6 2021 € m 3.5 0.5 0.7 4.7 2022 € m 1,030 29 198 5 25 48 1,335 23 2021 € m 883 43 169 6 24 34 1,159 28 The increase of the total amount of ’Employee benefits expenses’ compared to the previous year is mainly due to the acquisition of Gruner + Jahr publishing business and scope effects from Fremantle’s acquisitions in 2021 and 2022.

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Notes to the consolidated financial statements 133 The amounts set out above exclude personnel costs of € 307 million (2021: € 257 million), which are capitalised, and which represent employee costs directly allocated to the production of assets. In addition to other short-term bonus schemes, RTL Group has implemented for its senior management a long-term incentive plan (RTL Group LTIP 2020-2022 ‘LTIP’) which runs for the term 2020 to 2022. The liability related to the LTIP Tranche 2022 amounted to € 14 million at 31 December 2022 (LTIP Tranche 2021: € 19 million at 31 December 2021). Further details on the terms and conditions of the LTIP are contained in the RTL Group Remuneration Report. RTL Group operates a sub-plan for senior management of Fremantle (New Format Incentive Scheme 2020-2022 ‘NFIS2020-2022’). NFIS2020-2022 is a long-term plan based on cumulative creative targets. The creative target achievement is linked to a defined ranking scheme set out for new productions created and marketed during the plan’s term. The liability related to the NFIS2020-2022 amounted to € 6 million at 31 December 2022. Groupe M6 operates a specific long-term incentive plan based on free shares plans (see note 6.16.7). Pension costs relate to defined contributions for € 14 million (2021: € 14 million) and defined benefit plans for € 10 million (2021: € 10 million). The average number of employees for undertakings held by the Group is set out below: Employees of fully consolidated undertakings 5.4. Interest income and interest expense Interest income on loans and accounts receivable Tax-related interest income Interest income Interest expense on financial liabilities Interest expense Interest expense on financial liabilities includes an amount of € 14 million (2020: € 14 million) in respect of the loans from Bertelsmann Business Support S.à.r.l. (see note 10.1). 5.5. Other financial income and other financial expense Gains resulting from swap points Net gains on put/call options Sundry financial income Other financial income Losses resulting from swap points Net losses on put/call options Interest expense on lease liabilities Interest on defined benefit obligations Sundry financial expenses Other financial expense 2022 € m 1 – 5 6 – (4) (6) (4) (34) (48) 2022 € m 12,975 12,975 2021 € m 10,861 10,861 2022 € m 4 1 5 (18) (18) 2021 € m 4 1 5 (18) (18) 2021 € m – 18 1 19 (4) – (6) (1) (22) (33)

134

134 RTL Group Annual Report 2022 In 2022, the item ‘Net losses on put/call options’ relates to the re-measurement effects of put options in connection with recent acquisitions of Fremantle. In 2021, ‘Net gains on put/call options’ mainly included the re-measurement effects of Eureka call and put options. Interest on defined benefit obligations comprises interest income on plan assets of € 2 million (2021: € 3 million) and unwind of discount on defined benefit obligations of € –6 million (2021: € –4 million). The item ‘Sundry financial expenses’ includes among others, non-operating foreign exchange effects of € –19 million (2021: € –10 million) and negative impact of the net wealth tax of € –3 million (2021: € –4 million). 5.6. Income tax expense Current tax expense Deferred tax income /(expense) 2022 € m (177) 11 (166) 2021 € m (421) (6) (427) In 2022, the significant change in the income tax expense compared to the previous year is due to lower profit before tax, mainly resulting from a decrease of taxable capital gains realised in the previous period. The income tax on the Group profit before tax differs from the theoretical amount that would arise using the Luxembourg tax rate as follows: Profit before tax Income tax rate applicable to RTL Group SA Expected tax expense The tax effects of the following items led to differences between the expected and actual tax expense: Adjustment to different national tax rates Effect of changes in tax rate and tax law Tax effects in respect of results from disposals of investments Current income taxes for previous years Deferred income taxes for previous years Effects of measurements of deferred tax assets Commission received in relation to the Compensation Agreement Permanent differences Other adjustments Total adjustments Actual tax expense 2022 € m 2021 € m 932 24.94 % (232) 1,881 24.94 % (469) (16) 2 32 6 (3) 48 16 (14) (5) 66 (166) (19) (2) 6 10 1 (3) 46 42 (39) 42 (427) Effect of tax rates in material foreign jurisdictions mainly results from the differentiated rates applicable in the following countries: – Germany, where the official tax rate is 32.10 per cent, representing an impact of € –17 million (2021: € –37 million with a tax rate of 32.10 per cent) – France, where several tax rates apply, depending on the size of the business. The rates of 25.83 and 25.00 per cent apply, representing an impact of € –2 million (2021: the rates of 28.41 and 27.50 per cent applied, representing an impact of € –13 million) – United States, where the official tax rate is 21.90 per cent, representing an impact of € 3 million (2021: € 28 million with a tax rate of 21.00 per cent).

135

Notes to the consolidated financial statements 135 ‘Tax effects in respect of results from disposals of investments‘ mainly includes the effect from the disposal of RTL Belgium. ‘Effects of measurements of deferred tax assets‘ considers the recognition of deferred tax assets on losses carry forward based on projections of the future taxable income derived from financial budgets approved by management. ‘Permanent differences’ mainly include the effects of non-taxable fair value measurements of investments and effects from other taxes. 5.7. Earnings per share The determination of basic earnings per share is based on the profit attributable to RTL Group shareholders of € 673 million (2021: € 1,301 million) and a weighted average number of ordinary shares outstanding during the year of 154,742,806 (2021: 154,742,806), calculated as follows: Profit attributable to RTL Group shareholders (in € million) Weighted average number of ordinary shares: Issued ordinary shares at 1 January Weighted average number of ordinary shares Basic earnings per share (in € ) Diluted earnings per share (in € ) 2022 673 154,742,806 154,742,806 4.35 4.35 2021 1,301 154,742,806 154,742,806 8.41 8.41

136

136 RTL Group Annual Report 2022 6. Details on consolidated statement of financial position 6.1. Programme and other rights, goodwill and other intangible assets Distribution and broadcasting rights € m Advance payments and (co-) productions in progress € m Total programme and other rights € m (Co-) productions € m Cost Balance at 1 January 2021 Effects of movements in foreign exchange Additions Disposals Subsidiaries acquired Subsidiaries disposed of Transfer to assets held for sale Transfers and other changes Balance at 31 December 2021 Effects of movements in foreign exchange Additions Disposals Subsidiaries acquired Subsidiaries disposed of Transfer to assets held for sale Transfers and other changes Balance at 31 December 2022 Amortisation and impairment losses Balance at 1 January 2021 Effects of movements in foreign exchange Amortisation charge Impairment losses Disposals Transfer to assets held for sale Transfers and other changes Balance at 31 December 2021 Effects of movements in foreign exchange Amortisation charge Impairment losses Disposals Transfer to assets held for sale Transfers and other changes Balance at 31 December 2022 Carrying amount: At 31 December 2021 At 31 December 2022 852 26 4 – – – – 9 891 26 1 – 1 – – 13 932 (840) (27) (12) – – – – (879) (27) (17) – – – (1) (924) 12 8 1,163 – 45 (20) 8 – – 9 1,205 – 32 (39) – – – 23 1,221 (1,139) – (56) – 20 – – (1,175) – (59) 2 39 – – (1,193) 30 28 23 1 37 – – – – (23) 38 1 39 (1) – – – (34) 43 (5) – – – – – (1) (6) – – (1) 1 – – (6) 32 37 (1,984) (27) (68) – 20 – (1) (2,060) (27) (76) 1 40 – (1) (2,123) (2,492) (5) – – – – – (2,497) (1) – – – – – (2,498) 74 73 3,010 3,327 Goodwill € m 5,363 16 – – 191 (31) (32) – 5,507 – – – 319 (1) – – 5,825 2,038 27 86 (20) 8 – – (5) 2,134 27 72 (40) 1 – – 2 2,196 Other intangible assets € m 684 4 63 (5) 236 (35) (10) 1 938 (2) 77 (14) 51 – (8) (1) 1,041 (371) (3) (46) – 4 3 – (413) 2 (76) (2) 14 4 1 (470) 525 571 ‘Other intangible assets’ mainly includes brands for an amount of € 307 million (2021: € 263 million), primarily related to brands within Groupe M6 (the M6 brand, Gulli-related brands and Stéphane Plaza brand) and RTL Deutschland (the Toggo brand). The M6 brand and Gulli-related brands are considered to have an indefinite useful life and were recognised for an amount of € 120 million and € 38 million, respectively. At 31 December 2022, an impairment test was performed and did not lead to any impairment.

137

Notes to the consolidated financial statements 137 In determining that the M6 brand has an indefinite useful life, management has considered various factors such as the historical and expected longevity of the brand, the impact of possible changes in broadcasting technologies, the impact of possible evolutions of the regulatory environment in the French television industry, the current and expected audience share of the M6 channel, and M6 management’s strategy to maintain and strengthen the trademark ‘M6’. Based on the analysis of these factors, management has determined and confirmed at 31 December 2022, that there is no foreseeable limit to the period over which the brand M6 is expected to generate cash inflows for the Group. Gulli-related brands correspond to Gulli, Canal J and Tiji. Given their positioning, the market’s awareness of the brands and their history, they are considered to have an indefinite useful life. ’Subsidiaries acquired’ includes an amount of € 179 million for goodwill and of € 18 million for other intangible assets from the acquisition of Gruner + Jahr (see note 4.2). 6.2. Impairment test for goodwill Goodwill is allocated to the Group’s cash-generating units (CGUs) on the basis of the business units and at the level at which independent cash flows are generated. In January 2022, RTL Deutschland acquired Gruner + Jahr’s German publishing assets and brands from Bertelsmann to create a German cross-media champion. Fremantle extended its global content business by acquisitions in Lux Vide, Dancing Ledge, Element Pictures, 72 Films and Wildstar Films. In May 2022, Smartclip – the ad-tech business of RTL Deutschland – acquired and integrated Realytics, a French ad-tech company. Business units and CGUs mainly operate in one country, except Fremantle and We Are Era, which have global/multi-territory operations. RTL Deutschland has minor businesses in France and the United Kingdom. Goodwill is allocated by CGU as follows: RTL Deutschland Groupe M6 Fremantle RTL Nederland We Are Era Others Total goodwill on cash-generating units 31 December 2022 € m 1,269 613 1,252 159 32 2 3,327 31 December 2021 € m 1,080 614 1,123 159 33 1 3,010 Goodwill is tested for impairment annually, on 31 December, or whenever changes in circumstances indicate that the carrying amount may not be recoverable. The recoverable amount of a CGU has been determined on the basis of the higher of its value in use and its fair value less costs of disposal: – The value in use is determined on the basis of cash flows excluding estimated future cash inflows or outflows expected to arise from future restructurings and from improving or enhancing the CGU’s performance unless the CGUs committed at year-end to the restructuring, and related provisions have been made. Furthermore, the discount rate is closely linked to peer group parameters. Specific country risk and inflation differentials are also considered. – Fair value less costs of disposal is the amount obtainable from the sale of a CGU in an arm’s length transaction between knowledgeable, willing parties, less the costs of disposal. When available, market quoted prices are used.

138

138 RTL Group Annual Report 2022 The Group supports its fair values less costs of disposal on market-based valuations, if an active market exists, and on the basis of a discounted cash flow (DCF) model to the extent that it would reflect the value that ‘any market participant’ would be ready to pay in an arm’s length transaction. Differently from the ‘value in use’ approach, which reflects the perspective of the Group for a long-term use of the CGU, a ‘fair value less costs of disposal’ DCF model would include future cash flows expected to arise from restructuring plans and future investments, as all rational market participants would be expected to undertake these restructurings and investments in order to extract the best value from the acquisition. Furthermore, the discount rate of each CGU is calculated based on a market approach and most of the parameters used are derived from market sources. The discount rates are based on a mixed interest rate represented by the weighted average cost of equity and cost of capital (WACC) after tax. The discount rates reflect the time value of money and the perception of risk associated with projected future cash flows, both from the equity shareholders’ and the debt holders’ point of view. The discount rates have been determined, CGU by CGU, and embody, where appropriate, the following factors: – country risk – inflation rate differential – specific firm premium – specific tax rate – credit spread – gearing ratio. The recoverable amount of all CGUs is based on their fair value less costs of disposal and is a Level 3 fair value measurement, with exception of Groupe M6 which is listed on Euronext Paris, Compartment A (Paris Stock Exchange). As at 31 December 2022, the market price of Métropole Télévision shares on the Paris Stock Exchange was € 15.35 (2021: € 17.16). The recoverable amount of Groupe M6 at that date was based on value in use using a discounted cash flow method (Level 3), as management considered the share price of Groupe M6 did not fully reflect its earning potential due to the expected growth in AVOD offers and diversification business of Groupe M6. The value in use determined significantly exceeded the carrying amount. Cash flow projections are based on financial budgets approved by management covering a three-year period. Cash flows beyond the three-year period for a total of up to five years are prepared using the estimated growth rates and other key drivers. For the cash-generating units’ operating advertising revenue, the projections consider audience and advertising market shares, the EBITA margin, operating cash conversion rates based on past performance, and expectations regarding market development. Management also relies on wider macro- economic indicators from external sources to verify the veracity of their own budgeting assumptions. Finally, the market positions of the Group’s channels are also reviewed in the context of the competitive landscape, including the impact of new technologies and consumption habits. For Fremantle, which operates a multi-territory/ worldwide and diversified operation, the expected growth rate is determined according to a weighted average of growth expectations of its multiple regions, markets and product offerings. Cash flows beyond the three and five-year period are extrapolated using the estimated perpetual growth and EBITA margin rates and applying the discount rates stated below. The perpetual growth and EBITA margins are based on the expected outcome of the strategy implemented by the Group in the different markets, on macro-economic and industry trends, and on in-house estimates. Capital expenditure is assumed to be in line with depreciation and amortisation. Management also considers that the moderate perpetual growth would not result in a significant increase of the net working capital. Cash-generating units RTL Deutschland Groupe M6 Fremantle RTL Nederland We Are Era 2022 2021 Perpetual growth rate % a year Discount rate % Perpetual growth rate % a year Discount rate % 0.5 0.0 1.8 0.5 2.0 7.4 8.2 8.0 7.4 12.4 0.5 0.0 1.8 0.0 2.0 6.3 6.8 8.2 6.1 10.0

139

Notes to the consolidated financial statements 139 We Are Era’s shift to higher margin project business leads to a higher level of uncertainty in terms of forecast. For the CGU We Are Era, in the event of an increase in the discount rate by 2.4 percentage points, a decrease in the long-term growth rate by 3.8 percentage points or a decrease in the EBITA margin by 1.1 percentage points, the recoverable amount would fall below the carrying amount. For other CGUs, management considers that, at 31 December 2022, no reasonably possible change in the market shares, EBITA margin and operating cash conversion rates would reduce the headroom between the recoverable amounts and the carrying amounts of the CGUs to zero, when the recoverable amount is solely based on a DCF approach. 6.3. Property, plant and equipment Cost Balance at 1 January 2021 Effect of movements in foreign exchange Additions Disposals Subsidiaries acquired Subsidiaries disposed of Transfer to assets held for sale Transfers and other changes Balance at 31 December 2021 Effect of movements in foreign exchange Additions Disposals Subsidiaries acquired Subsidiaries disposed of Transfer to assets held for sale Transfers and other changes Balance at 31 December 2022 Depreciation and impairment losses Balance at 1 January 2021 Effect of movements in foreign exchange Depreciation charge Disposals Transfer to assets held for sale Balance at 31 December 2021 Effect of movements in foreign exchange Depreciation charge Disposals Transfer to assets held for sale Balance at 31 December 2022 Carrying amount: At 31 December 2021 At 31 December 2022 Land, buildings and improvements €m 393 1 2 (9) – (2) (2) 3 386 – 12 (3) 7 – (3) – 399 (215) (1) (18) 10 2 (222) – (16) 3 2 (233) 164 166 Technical equipment € m 362 – 14 (12) 1 – (55) 3 313 (2) 13 (12) 3 – (16) (1) 298 (306) – (20) 12 49 (265) 1 (18) 16 14 (252) 48 46 Other € m 245 2 28 (9) 3 (1) (26) (5) 237 (1) 30 (24) 6 (1) (3) 1 245 (188) (2) (21) 7 19 (185) 1 (24) 21 2 (185) 52 60 Total € m 1,000 3 44 (30) 4 (3) (83) 1 936 (3) 55 (39) 16 (1) (22) – 942 (709) (3) (59) 29 70 (672) 2 (58) 40 18 (670) 264 272 ’Subsidiaries acquired’ includes an amount of € 3 million from the acquisition of Gruner + Jahr (see note 4.2).

140

140 RTL Group Annual Report 2022 6.4. Right-of-use assets Depreciation, additions and carrying amounts of right-of-use from leased property, plant and equipment are as follows: Balance at 1 January 2022 Effect of movements in foreign exchange Depreciation charge Additions Other changes Balance at 31 December 2022 Balance at 1 January 2021 Effect of movements in foreign exchange Depreciation charge Additions Other changes Balance at 31 December 2021 Land and equivalent real estate rights and buildings €m 277 (1) (72) 76 55 335 Land and equivalent real estate rights and buildings €m 320 2 (51) 12 (6) 277 Technical equipment and machinery € m 1 – – – – 1 Other equipment, fixtures, furniture and office equipment € m 5 – (4) 5 – 6 Technical equipment and machinery € m 1 – Other equipment, fixtures, furniture and office equipment € m 8 – (1) – 1 1 (4) 4 (3) 5 Total € m 283 (1) (76) 81 55 342 Total € m 329 2 (56) 16 (8) 283 ’Other changes’ includes an amount of € 46 million increases in right-of-use assets from the extension of existing lease contracts and an amount of € 4 million from the acquisition of Gruner + Jahr (see note 4.2). 6.5. Investments accounted for using the equity method As at 31 December 2022, investments in 11 joint ventures (31 December 2021: 9) and 24 associates (31 December 2021: 22) were accounted for in the consolidated financial statements. The amounts recognised in the consolidated statement of financial position are as follows: Associates Joint ventures Balance at 31 December The amounts recognised in the income statement are as follows: Share of results of investments accounted for using the equity method Associates Joint ventures Impairment and reversals of investments accounted for using the equity method Associates Joint ventures 2022 € m 370 6 376 2022 € m 33 (19) 14 (5) – (5) 2021 € m 360 6 366 2021 € m 50 (23) 27 2 – 2

141

Notes to the consolidated financial statements 141 In the year 2022, dividends received from investments accounted for using the equity method amounted to € 53 million (2021: € 45 million). This amount is considered as an adjustment in ‘Financial results including net interest expense and share of results of investments accounted for using the equity method’ when calculating cash flows from operating activities. 6.5.1. Investments in joint ventures Individually material joint venture As at 31 December 2022, RTL Group had no joint venture, which, in the opinion of management, is material to the Group. Individually immaterial joint venture The following table shows summarised financial information on joint ventures that management considers individually immaterial. The information provided represents RTL Group’s interest in each case. Non-current assets Current assets Non-current liabilities Current liabilities Earnings after taxes from continuing operations Earnings after taxes from discontinued operations Other comprehensive income Total comprehensive income 2022 € m 10 66 4 85 (19) – – 2021 € m 22 19 42 34 (27) – – (19) (27) On 29 March 2022, Groupe M6 subscribed to the capital increase of the joint venture Salto (the streaming platform held jointly by Groupe M6, TF1 and France Télévisions) for € 41 million by offsetting its receivable held in its shareholder current account. Further, Groupe M6 provided Salto with a loan which, in substance, forms part of its investment in Salto. The proposed Groupe M6/Groupe TF1 merger having been abandoned, and in the absence of satisfactory offers for a sale of the platform, the three shareholders of Salto have unanimously decided to proceed with the voluntary liquidation of Salto. According to IAS 28.14A RTL Group applied IFRS 9 to the loan and recognised an impairment amount of € –28 million through profit or loss presented in ‘Impairment and reversals on other financial assets at amortised cost’ as part of ‘Other operating expenses’ (see note 5.3). The costs of the withdrawal for each of the partners were recognised by way of provisions as at 31 December 2022, over and above their share of Salto’s net loss for the year. Thus, the excess of € 15 million was recognised as a provision (see note 6.14.1). There are no material contingent liabilities relating to the Group’s interest in the joint ventures. 6.5.2. Investments in associates Individually material associates Set out below are the associates of the Group at 31 December 2022, which, in the opinion of the management, are material to the Group: Name of entity Country of incorporation Principal activity Percentage ownership interest Measurement method Atresmedia Global Savings Group (GSG) RTL 2 Fernsehen GmbH & Co KG Spain Broadcasting TV Germany Shopping rewards Germany Broadcasting TV 2022 18.7 41.5 35.9 2021 18.7 41.5 35.9 At equity At equity At equity

142

142 RTL Group Annual Report 2022 Atresmedia Corporación de Medios de Comunicación S.A. (and subsidiaries, ‘Atresmedia’) is listed on the Madrid Stock Exchange. Based on the published share price at 31 December 2022, the market capitalisation of 100 per cent of Atresmedia amounts to € 721 million, i.e. € 3.19 per share (2021: € 753 million, i.e. € 3.34 per share). Global Savings Group (GSG) is a private company providing shopping rewards activities and there is no quoted market price available for its shares. RTL 2 Fernsehen GmbH & Co KG is a private company and there is no quoted market price available for its shares. The following table shows summarised financial information for Atresmedia, Global Savings Group (GSG) and RTL 2 Fernsehen GmbH & Co KG. The information presented represents the amounts included in the financial statements of the material associates plus adjustments for using the equity method, and not RTL Group’s share of these amounts. Non-current assets Current assets Current liabilities Non-current liabilities Net assets Revenue Earnings after taxes from continuing operations Earnings after taxes from discontinued operations Other comprehensive income Total comprehensive income Dividends received from associates Atresmedia Global Savings Group (GSG) RTL 2 Fernsehen GmbH & Co KG 2022 686 825 (529) (295) 687 951 112 2021 549 853 (478) (381) 543 963 118 2022 189 87 (128) (56) 92 167 (34) – – 127 239 18 (2) 116 8 – – (34) – 2021 180 91 (85) (59) 127 148 (11) – (1) (12) – 2022 63 70 (34) (47) 52 256 38 – – 38 19 2021 51 92 (43) (38) 62 283 52 – – 52 15 The reconciliation of the summarised financial information shown to the carrying amount of the interest in each material associate in the consolidated financial statements is shown in the following table: Net assets at 31 December Proportionate equity Goodwill Impairment on investments accounted for using the equity method Carrying amount Atresmedia Global Savings Group (GSG) RTL 2 Fernsehen GmbH & Co KG 2022 687 128 166 2021 543 101 166 2022 92 38 42 2021 127 52 42 2022 52 17 24 2021 62 33 24 (110) 184 (110) 157 – 80 – 94 – 41 – 57 Investments in associates are tested for impairment according to the same methodology applied for the impairment test of goodwill. The perpetual growth and discount rates used are as follows: Atresmedia RTL 2 Fernsehen GmbH & Co. KG 2022 2021 Perpetual growth rate % a year 0.0 0.5 Discount rate % 10.0 6.7 Perpetual growth rate % a year 0.0 0.5 Discount rate % 8.1 7.0

143

Notes to the consolidated financial statements 143 As at 31 December 2022, the investment in Atresmedia was tested for impairment in accordance with IAS 36. The recoverable amount of Atresmedia on 31 December 2022 was based on the value in use determined using a discounted cash flow model, as management considered the share price of Atresmedia did not fully reflect its earning potential, which includes the new diversification strategy through expansion of its investment portfolio, strengthen its digital streaming offers and building its leading position in locally relevant content production. The ongoing challenging economic environment in Spain combined with strong competition, changing viewing preferences and continued dependence on linear television continues to lead to high uncertainty in terms of forecasts. As at 31 December 2022 neither additional impairment loss nor reversal of impairment loss had to be recognised on the at equity investment in Atresmedia. As at 31 December 2022, the share price of Atresmedia was € 3.19 (31 December 2021: € 3.34) which results in a fair value less costs of disposal of € 132 million for the 18.7 per cent held by RTL Group (31 December 2021: € 138 million). The assumptions based on the value in use using a discounted cash flow model are shown in the above table. Management has identified that a reasonably possible change in three key assumptions could cause the carrying amount to exceed the recoverable amount. In the event of changes of these assumptions individually, as described in the following table, the estimated recoverable amount would be equal to the carrying amount. EBITA margin Discount rate Perpetual growth rate 31 December 2022 (in percentage points) (0.6) 0.7 (0.7) In November 2019, the Spanish Competition Authority (CNMC) arrived at a decision in disciplinary proceedings imposing a fine on Atresmedia and Mediaset and barring both operators from specified courses of conduct. The parties were ordered to take steps to align their commercial and contractual relations to the requirements of the decision. The fine imposed on Atresmedia amounts to € 38.2 million. In 2020, Atresmedia challenged the decision by filing an application for judicial review with the Administrative Chamber of the Audiencia Nacional, Spain’s national court. The application was found admissible. Consequently, Atresmedia will proceed with an appeal in the aforementioned court. The directors and legal advisors of Atresmedia believe that the application for judicial review against the CNMC’s decision is likely to succeed. No provision has been recognised. For Global Savings Group no triggering events for an impairment test have been identified. The recoverable amount of RTL 2 Fernsehen GmbH & Co KG has been determined on the basis of the fair value less costs of disposal at 31 December 2022. This is a Level 3 fair value measurement. Individually immaterial associates The following table shows summarised financial information on associates that management considers individually immaterial. The information given represents RTL Group’s interest in each case. Non-current assets Current assets Non-current liabilities Current liabilities Earnings after taxes from continuing operations Earnings after taxes from discontinued operations Other comprehensive income Total comprehensive income There are no material contingent liabilities relating to the Group’s interest in the associates. 2022 € m 2021 € m 53 72 8 50 12 – 1 13 43 52 3 38 14 – 1 15

144

144 RTL Group Annual Report 2022 6.6. Loans and non-current other assets Loans and other financial assets Equity instruments at FVOCI Equity instruments at FVTPL Debt instruments at FVTPL Convertible loans at FVTPL Derivative financial assets Loans receivable to investments accounted for using the equity method Other loans receivable Trade accounts and other receivables Other non-financial assets Net defined benefit asset 2022 € m 29 6 3 – 14 8 5 46 111 2 2 113 2021 € m 37 6 – 11 8 7 7 41 117 – – 117 Equity instruments at FVOCI comprise those instruments which are not held for trading and which the group has irrevocably elected at initial recognition to recognise in this category. These are strategic investments, mainly in radio activities. In December 2022, RTL Group sold its entire shareholding in Beyond International Limited, a company listed on the Australian Stock Exchange (2021: 19.5 per cent share capital). Beyond International Limited was a Level 1 fair value measurement. In 2022, RTL Group recorded an increase in the fair value of this equity instrument at FVOCI of € 1 million (2021: increase of € 1 million). The movements in equity instruments at FVOCI are as follows: Balance at 1 January Net acquisitions and disposals Change in fair value Other changes Balance at 31 December 6.7. Deferred tax assets and liabilities Deferred tax assets Deferred tax liabilities Balance at 1 January Income tax income/(expense) Income tax credited/(charged) to other comprehensive income Change in consolidation scope Transfer to assets held for sale Transfers and other changes Balance at 31 December 2022 € m 2021 € m 37 (3) (5) – 29 35 – 1 1 37 2022 € m 318 (75) 243 2022 € m 245 11 (29) 15 (1) 2 243 2021 € m 322 (77) 245 2021 € m 285 (6) (7) (27) (1) 1 245

145

Notes to the consolidated financial statements 145 The amount of the tax benefit arising from a previously unrecognised tax loss that is used to reduce current tax expense amounts to € 1 million (2021: € 13 million). The recognition of previously unrecognised tax loss carry forwards and deductible temporary differences resulted in a reduction in deferred tax expense of € 74 million (2021: € 9 million). Of ‘Income tax credited/(charged) to other comprehensive income’ an amount of € –2 million (2021: € –5 million) relates to effective portion of changes in fair value of cash flow hedges, € nil million (2021: € nil million) relates to recycling of cash flow hedge reserve, € –29 million (2021: € –2 million) relates to defined benefit plan actuarial gains/(losses) and € 2 million (2021: € nil million) relates to change in fair value of equity instruments at FVOCI. The cumulative amount of deferred tax assets recognised in other comprehensive income amounts to € –3 million (2021: € 14 million). Deferred tax assets are recognised to the extent that realisation of the related tax benefit through the future taxable profits is probable. The Group has not recognised deferred tax assets in respect of the following items: Tax loss carry forwards No expiration date Expiration within 5 years Expiration after 5 years Deductible temporary differences (no expiration date) 2022 € m 2021 € m 4,007 68 11 11 4,182 80 9 20 At 31 December 2022, there were temporary differences of € 171 million (2021: € 126 million) related to investments in subsidiaries. However, this liability was not recognised because the Group controls the dividend policy of its subsidiaries – i.e. the Group controls the timing of reversal of the related taxable temporary differences and these will not reverse in the foreseeable future. The movement in deferred tax assets and liabilities during the year is as follows: Balance at 1 January 2022 € m (Charged)/ credited to income statement € m Charged to other comprehensive income € m Change in consolidation scope € m Transfers and other changes € m Balance at 31 December 2022 € m Deferred tax assets Intangible assets Programme rights Property, plant and equipment Right-of-use assets and lease liabilities Provisions Tax loss carry forwards Others Offset Deferred tax liabilities Intangible assets Programme rights Property, plant and equipment Right-of-use assets and lease liabilities Provisions Others Offset 67 168 3 93 95 18 92 (214) 322 (131) (2) (13) (80) (24) (41) 214 (77) (12) (29) 1 10 (11) 75 (13) 21 (4) 2 – (10) (4) 6 (10) – – – – (24) – (2) (26) – – – – (3) – (3) 11 – – 2 27 3 6 49 (14) (2) (1) (2) (9) (6) (34) 1 – – (1) – (1) 1 (48) (48) – – – 1 1 (1) 48 49 67 139 4 104 87 95 84 (262) 318 (149) (2) (14) (91) (39) (42) 262 (75)

146

146 RTL Group Annual Report 2022 Balance at 1 January 2021 € m (Charged)/ credited to income statement € m Charged to other comprehensive income € m Change in consolidation scope € m Transfers and other changes € m Balance at 31 December 2021 € m Deferred tax assets Intangible assets Programme rights Property, plant and equipment Right-of-use assets and lease liabilities Provisions Tax loss carry forwards Others Offset Deferred tax liabilities Intangible assets Programme rights Property, plant and equipment Right-of-use assets and lease liabilities Provisions Others Offset 71 193 3 107 80 25 62 (208) 333 (79) (6) (12) (94) (28) (37) 208 (48) (4) (34) – (12) 17 (8) 29 – (12) (2) – (3) 11 3 (3) – 6 – – – – (1) – (5) – (6) – – – – (1) – – (1) – 8 – – 1 1 4 – 14 (49) 4 1 1 (1) 3 – (41) – 1 – (2) (2) – 2 (6) (7) (1) – 1 2 3 (4) 6 7 67 168 3 93 95 18 92 (214) 322 (131) (2) (13) (80) (24) (41) 214 (77) Deferred tax assets and liabilities are offset against each other if they relate to the same tax authority and meet the criteria of offsetting. The term of the deferred taxes on temporary differences is mostly expected to be recovered or settled more than 12 months from the balance sheet date. 6.8. Current programme rights (Co-)productions TV programmes Other distribution and broadcasting rights Sub-total programme rights (Co-)productions and programmes in progress Advance payments on (co-)productions, programmes and rights Sub-total programme rights in progress 2022 Valuation allowance € m (339) – (250) (589) (15) Gross value € m 433 162 702 1,297 717 Net value € m 94 162 452 708 702 Gross value € m 400 117 763 1,280 458 2021 Valuation allowance € m (338) (2) (270) (610) (13) Net value € m 62 115 493 670 445 169 886 2,183 – (15) (604) 169 871 1,579 183 641 1,921 – (13) (623) 183 628 1,298 Additions and reversals of valuation allowance have been recorded for € –48 million and € 58 million respectively in 2022 (2021: € –70 million and € 64 million, respectively).

147

Notes to the consolidated financial statements 147 6.9. Accounts receivable and other current assets Accounts receivable and other financial assets Trade accounts receivable Contract assets Accounts receivable from investments accounted for using the equity method Loans receivable to investments accounted for using the equity method Derivative financial assets Equity instruments at FVTPL Debt instruments at FVTPL Other current financial assets Current deposits with shareholder and its subsidiaries Account receivable from shareholder in relation with PLP Agreement Other accounts receivable Other non-financial assets Prepaid expenses Sundry other non-financial assets 2022 € m 2021 € m 1,301 10 18 – 38 127 – 6 276 306 108 2,190 93 220 313 2,503 1,207 16 23 3 21 274 – 19 794 648 290 3,295 80 127 207 3,502 ‘Equity instruments at FVTPL’ includes minority investments in Magnite amounting to € 123 million (31 December 2021: € 190 million) as well as a number of minority investments held by different entities. The fair value of the listed investment in Magnite is measured on the basis of its market value. The gains and losses resulting from changes in the fair value are recognised in ‘Fair value measurement of investments’ as presented in note 5.3. At 31 December 2021, ‘Equity instruments at FVTPL’ also included a minority investment in VideoAmp amounting to €81 million. In January 2022, RTL Group sold its entire investment in VideoAmp for US-$104 million (€92 million) in cash. The transaction was carried out as a share buyback by VideoAmp. The cash inflow is recognised in the consolidated cash flow statement under ‘Proceeds from the sale of investments accounted for using the equity method, other investments and financial assets’. Additions and reversals of valuation allowance have been recorded for € –26 million and € 19 million respectively in 2022 (2021: € –21 million and € 20 million respectively). 6.10. Cash and cash equivalents Cash in hand and at bank Fixed term deposits (under three months) and money market funds Cash and cash equivalents (excluding bank overdrafts) Cash and cash equivalents (excluding bank overdrafts) Bank overdrafts Cash and cash equivalents and bank overdrafts 2022 € m 333 256 589 2022 € m 589 (1) 588 2021 € m 417 130 547 2021 € m 547 – 547 As at 31 December 2022, ‘Cash in hand and at bank’ in the amount of € 3 million was subject to restrictions on disposals (2021: € nil million).

148

148 RTL Group Annual Report 2022 6.11. Assets classified as held for sale As at 31 December 2022, RTL Group had no assets classified as held for sale. As at 31 December 2021, the carrying amounts of the assets classified as held for sale and related liabilities were attributable to RTL Belgium – the disposal of which was completed in March 2022 (see note 4.3). 6.12. Loans, bank overdrafts and lease liabilities 2022 Bank overdrafts Bank loans payable – fixed rate Bank loans payable – floating rate Loans due to investments accounted for using the equity method – floating rate Term loan facility due to shareholder – fixed rate Other loans payable – fixed rate Other loans payable – floating rate Lease liabilities 2021 Bank overdrafts Bank loans payable – fixed rate Bank loans payable – floating rate Loans due to investments accounted for using the equity method – floating rate Term loan facility due to shareholder – fixed rate Other loans payable – fixed rate Other loans payable – floating rate Lease liabilities Under 1 year €m 1 22 3 – 511 – 10 547 85 Over 1 year € m – 133 – – – 5 – 138 300 Under 1 year €m – Over 1 year € m – 16 7 1 11 – 14 49 59 130 – – 500 5 – 635 273 Total carrying amount € m 1 155 3 – 511 5 10 685 385 Total carrying amount € m – 146 7 1 511 5 14 684 332 As at 31 December 2021, bank overdrafts were immaterial. As at 31 December 2022, potential future cash outflows of € 179 million (undiscounted) have not been included in the lease liabilities as it is not reasonably certain that the leases will be extended (or not terminated) (2021: € 219 million).

149

Notes to the consolidated financial statements 149 6.13. Accounts payable and other liabilities 2022 Accounts payable and other financial liabilities Trade accounts payable Amounts due to associates Derivative financial liabilities Account payable to shareholder in relation to PLP Agreement Sundry financial liabilities Non-financial liabilities Employee benefits liability VAT payables Deferred income Social security and other taxes payable 2021 Accounts payable and other financial liabilities Trade accounts payable Amounts due to associates Derivative financial liabilities Account payable to shareholder in relation to PLP Agreement Sundry financial liabilities Non-financial liabilities Employee benefits liability VAT payables Deferred income Social security and other taxes payable Under 1 year €m Over 1 year € m Total carrying amount € m 1,360 8 43 322 106 1,839 249 132 3 89 473 2,312 40 – 14 – 167 221 287 – – – 287 508 1,400 8 57 322 273 2,060 536 132 3 89 760 2,820 Under 1 year €m Over 1 year € m Total carrying amount € m 1,459 8 12 732 87 2,298 228 132 8 96 464 2,762 32 – 5 – 48 85 287 – – – 287 372 1,491 8 17 732 135 2,383 515 132 8 96 751 3,134 At 31 December 2022, the profit participation liabilities of RTL Deutschland amounted to € 315 million (2021: € 305 million).

150

150 RTL Group Annual Report 2022 6.14. Provisions 6.14.1. Provisions other than post-employment benefits Balance at 1 January 2022 Provisions charged/(credited) to the income statement: – Additions – Reversals Provisions used during the year Other changes Balance at 31 December 2022 Restructuring €m 48 5 – (38) 9 24 Litigations €m 67 7 (41) (4) Onerous contracts € m 85 41 (7) (47) – 29 – 72 Other provisions € m 31 5 (11) (14) 21 32 Total € m 231 58 (59) (103) 30 157 ’Other changes’ includes an amount of € 15 million from the acquisition of Gruner + Jahr (see note 4.2). The provisions mainly relate to the following: Provisions for litigations Provisions for litigations correspond to the Group’s best estimate of the expected future cash outflow related to disputes arising from the Group’s activities. RTL Group is party to legal proceedings in the normal course of its business, both as defendant and claimant. The main legal proceedings to which RTL Group is a party are disclosed below. Several subsidiaries of RTL Group are being sued by the broadcaster RTL 2 Fernsehen GmbH & Co KG and its sales house, El Cartel Media GmbH & Co KG, before the regional court in Düsseldorf, Germany, seeking disclosure of information to substantiate a possible claim for damages. The proceedings follow the imposition of a fine in 2007 by the German Federal Cartel Office for abuse of market dominance with regard to discount scheme agreements (share deals) granted by Ad Alliance GmbH (formerly IP Deutschland GmbH) and SevenOne Media GmbH to media agencies. The German Federal Cartel Office argued that these discounts would foreclose small broadcasters from the advertising market. In 2014, the district court of Düsseldorf decided to order an expert report. The expert concluded in February 2018 that the likelihood of damages cannot be proven with certainty. In July 2018, RTL 2 Fernsehen GmbH & Co KG filed a motion claiming that the expert was not impartial, with the aim of getting the court to obtain a new expert opinion. Ad Alliance GmbH has rejected the motion of lack of impartiality as unfounded. Due to his unexpected death in February 2020, the court expert could not submit his response to the allegation of impartiality. The court has announced that it would take a decision on the issue of impartiality in the upcoming weeks. The court case will continue. Similar proceedings from other small broadcasters, initiated in different courts, were unsuccessful or have been withdrawn. Based on the independent legal advice obtained in 2022, management’s assessment is that the basis for the claim has little merit, and it is not probable that an outflow will be required to settle the claim. As no further outflows of resources are expected, the provision of € 35 million was reversed. In June 2016, the main competitors of Fun Radio alleged that a host of the morning show had influenced Fun Radio’s results by encouraging his listeners to give favourable treatment to Fun Radio in the Médiamétrie surveys. In response to these allegations, Médiamétrie decided to remove Fun Radio from its surveys. Following a legal procedure initiated by Fun Radio, Médiamétrie was required to reinstate Fun Radio in the audience results surveys as of September 2016. Nevertheless, Médiamétrie decided to lower Fun Radio’s audience results in its published surveys, alleging the existence of a ‘halo effect’. Following a procedure initiated by Fun Radio, a judicial expert was appointed in December 2017 to examine Médiamétrie’s assessment of the alleged ‘halo effect’. In September 2019, the judicial expert issued his final report which confirmed the ‘halo effect’ but assessed that Fun Radio’s results were over-corrected. As of September 2017, Médiamétrie has again published the full audience results for Fun Radio. In parallel to the above procedure, the main competitors of Fun Radio also filed, in December 2016, a claim for damages, claiming unfair competition, but this procedure was suspended until the end of the judicial expertise. In the meantime, four of the six claimants withdrew their claim from the proceedings. On 23 January 2023, the Court decided to award damages for unfair competition. Fun Radio appealed the Court’s decision on 26 January 2023 and is confident to achieve a favourable decision before the Court of appeal. No further information is disclosed as it may harm the Group’s position.

151

Notes to the consolidated financial statements 151 Onerous contracts ‘Onerous contracts’ mainly comprise provisions made by: – RTL Deutschland for € 68 million (2021: € 82 million) mainly in relation to the supply of programmes, of which sport events € 21 million (2021: € 15 million) – Groupe M6 for € 1 million (2021: € 2 million) in relation to the supply of programmes – RTL Nederland for € 3 million (2021: € nil million) in relation to the supply of programmes fully related to sport events. ‘Other provisions’ of € 15 million relate to the provision for losses for the Group’s undertaking in Salto (see note 6.5). Current Non-current 6.14.2. Post-employment benefits Balance at 1 January Provisions charged/(credited) to the income statement: – Additions47 – Reversals Provisions used during the year47 Actuarial (gains)/losses directly recognised in other comprehensive income Change in consolidation scope Other Balance at 31 December 2022 € m 109 48 157 2022 € m 176 36 (1) (28) (106) 96 (1) 172 2021 € m 129 102 231 2021 € m 188 28 (1) (13) (18) – (8) 176 ‘Post-employment benefits’ comprise provision for defined benefit obligations for € 157 million (2021: € 168 million) and provision for other employee benefits for € 15 million (2021: € 8 million). ‘Change in consolidation scope’ includes an amount of € 96 million from the Gruner + Jahr acquisition (see note 4.2). 6.15. Defined benefit obligations RTL Group operates or participates in a number of defined benefit and defined contribution plans throughout Europe. FremantleMedia North America in the United States also operates a medical care plan which is also a defined benefit obligation and is included in ‘Provisions’ in the statement of financial position. These plans have been set up and are operated in accordance with national laws and regulations. A description of the principal defined benefit plans of the Group and associated risks is given below: France Groupe M6 operates retirement indemnity plans which, by law, provide lump sums to employees on retirement. The lump sums are based on service and salary at the date of the retirement in accordance with the applicable collective agreement. The Métropole Télévision (following the merger with Ediradio) and ID retirement indemnity plan is partly funded by an insurance contract with AXA. Métropole Télévision (following the merger with Ediradio) also participates in a defined benefit plan that provides pension benefits to members on retirement. This plan is partly funded by an insurance contract with AXA. The assets of the insurance contract are not segregated but mutualised within the global assets of the insurance company. A guaranteed interest rate is provided by AXA and the plan should not be affected by financial market development. By nature, the lifetime risk of the beneficiaries is no longer supported by Métropole Télévision at retirement. The risk is externalised to the insurer. 47 Of which defined contribution plan for € 14 million (2021: € 14 million)

152

152 RTL Group Annual Report 2022 Germany Employees of UFA companies (including UFA Fiction GmbH, UFA Shows & Factual GmbH, UFA GmbH, UFA Serial Drama GmbH), Radio Center Berlin, AVE Gesellschaft für Hörfunkbeteiligungen GmbH, UFA Film & Fernsehen GmbH, RTL Group GmbH and RTL Group Central & Eastern Europe participate in an unfunded common group retirement plan. The company UFA Serial Drama has a partly funded plan. Related obligations and plan assets are subject to demographic, legal and economic risks. The main risk relates to longevity risk for pension recipients. Each employer that participates in this plan has separately identifiable liabilities. RTL Television, Super RTL, RTL Deutschland and Ad Alliance (former IP Deutschland GmbH) operate their own retirement arrangements. The pension obligations of Super RTL Fernsehen GmbH provide for a one-time lump-sum benefit and a widow’s pension, which is subject to an annual increase of 1 per cent. Reinsurance policies have been taken out partially for the promised benefits. The reinsurance policies are classified as plan assets. The pension obligations of RTL Deutschland GmbH are based on individual commitments of mostly deferred compensation. A monthly retirement pension is promised in an individually agreed amount, including entitlement for benefits in case of disability or death of the beneficiary. Current pension benefits are increased by 2 per cent annually. One reinsurance policy without benefit-determining character exists with AXA. Further there exists an individual commitment for a one-time lump-sum benefit, which is partially funded. The reinsurance policies are classified as plan assets. Ad Alliance GmbH (former IP Deutschland GmbH) sponsors individual plans for five former employees, providing defined pension benefits to each employee at retirement. RTL Television sponsors individual plans for two former employees, providing defined pension benefits to each employee at retirement. In addition, a number of employees participate in a support fund providing pension benefits to members and their dependants on retirement and death. The plan of RTL Television is partly funded by a life insurance contract with AXA. The assets of the insurance contract are not segregated but mutualised within the global assets of the insurance company. A guaranteed interest rate is provided by AXA and the plan should not be affected by financial market development. Both companies are exposed to certain risks associated with defined benefits plans such as longevity, inflation and the increase of wages and salaries. The Gruner + Jahr companies participate in a pension plan, which has been closed to new members for many years. The pension entitlement amounts to 50 per cent of the pensionable income, which is fixed at the age of 41. Pension payments are paid annually, adjusted by at least 2 per cent. Luxembourg CLT-UFA, RTL Group and Broadcasting Center Europe (BCE) sponsor a post-employment defined benefit plan in favour of their employees. The occupational pension plan provides benefits to the affiliates (members and their dependants) in case of retirement, death in service or disability. The pension benefits are financed through an internal book reserve, as one of the allowed funding vehicles described in the law of 8 June 1999 on occupational pension plans in Luxembourg. Therefore CLT-UFA, RTL Group and BCE set up provision for the unfunded retirement benefit plan. Nevertheless, in such cases, the law requires the company to subscribe to insolvency insurance with the German Pension Protection Fund (Pensionssicherungsverein). The CLT-UFA, RTL Group and BCE occupational pension scheme is a defined benefit plan final pay with integration of the state pension. Consequently, the Company is exposed to certain risks associated with defined benefits plans – such as longevity, inflation, the effect of compensation increases – and of the state pension legislation. Death and disability are insured with La Luxembourgeoise-Vie SA. At the end of 2022 the Executive Committee of RTL Group decided to close this plan to new hires as at 1 January 2023. The plan will remain open for current employees and a new defined contribution plan will be implemented for employees joining from 2023 onwards.

153

Notes to the consolidated financial statements 153 United Kingdom FremantleMedia Group Limited is the principal employer of the Fremantle Group Pension Plan (‘the Fremantle Plan’ or ‘the Plan’), which was established on 29 December 2000 and was, prior to 1 September 2005, known as the RTL Group UK Pension Plan. The Fremantle Plan provides benefits through two sections, one providing defined benefits and the other providing defined contribution benefits with a defined benefit underpin. Plan assets are held for both sections of the Fremantle Plan – the assets in the defined benefit section are the qualifying insurance (buy-in) policies; the assets in the defined contribution section comprise mainly equities, with the Plan holding corporate bonds in relation to the defined benefit underpin. The Plan is funded through a trust administered by a trustee company, the assets of which are held separately from the assets of the participating employers. FremantleMedia Group Limited is ultimately liable for any deficit in the Plan. Funding requirements are under section 3 of the Pensions Act 2004 (UK), which requires: – Three-yearly formal actuarial valuations, with annual monitoring – Trustees to maintain a Statement of Funding Principles – Trustees and employers to agree the approach to each actuarial valuation – Funding deficits to be eliminated in accordance with a schedule of deficit funding contributions. The Company has been managing and reducing the risks associated with the Fremantle Plan. The Company closed the Plan to all further benefit accrual with effect from 31 March 2013. From 19 March 2014, the Company decided to secure benefits by insuring the Plan’s liabilities through a buy-in policy. Information about the nature of the present value of the defined benefit liabilities is detailed as follows: Final salary plans Career average plans Flat salary plans/plans with fixed amounts Other commitments given Present value of defined benefit obligation – thereof capital commitments 2022 € m 128 6 73 54 261 65 2021 € m 214 10 28 64 316 97 ‘Other commitments given’ broadly contains the defined contribution section of the Fremantle Plan. Under the Fremantle Plan Rules, in the defined benefit sections, a member may opt to exchange up to around 25 per cent of their pension benefit for a cash lump sum. The breakdown of the present value of the defined benefit liabilities by the plan members is as follows: Active members Deferred members Pensioners Total – thereof vested 2022 Head 2,753 1,131 323 4,207 2021 Head 2,540 1,103 309 3,952 2022 € m 114 90 57 261 227 2021 € m 108 135 73 316 272

154

154 RTL Group Annual Report 2022 The amounts recognised in the consolidated statement of financial position are determined as follows: Present value of defined benefit obligation of unfunded plans Present value of defined benefit obligation of funded plans Total present value of defined benefit obligation Fair value of plan assets Net defined benefit liability – thereof provisions for pensions – thereof other assets The amounts recognised in profit or loss are determined as follows: Current service cost Past service cost and impact from settlement Net interest expense Net pension expense 2022 € m 155 106 261 (106) 155 157 2 2022 € m 9 1 4 14 2021 € m 159 157 316 (148) 168 168 – 2021 € m 9 1 1 11 Changes in the present value of defined benefit obligations and plan assets in the reporting period were as follows: Balance at 1 January Current service cost Interest expense Interest income Past service cost Income and expenses for defined benefit plans recognised in the consolidated income statement Income/expense on plan assets excluding amounts included in net interest income and net interest expense Actuarial gains (-) and losses (+) – changes in financial assumptions – changes in demographic assumptions – experience adjustments Re-measurements for defined benefit plans recognised in the consolidated statement of comprehensive income Contributions to plan assets by employer Contributions to plan assets by employees Pension payments Changes in foreign exchange rates Changes associated with assets held for sale Change in consolidation scope Other changes Other reconciling items Balance at 31 December thereof Germany United Kingdom Other European countries Defined benefit obligation (I) Fair value of plan assets (II) Net defined benefit balance (I)-(II) 2022 316 9 6 – 1 2021 354 9 4 – 1 16 14 – (141) 5 (7) – (13) (1) 2 (143) (12) – – (13) (5) – 89 1 72 261 106 84 70 – – (12) 9 (54) 1 16 (40) 316 74 130 112 2022 148 2021 170 – – 2 – 2 (34) – – – (34) 1 – (8) (5) – 1 1 (10) 106 18 86 2 – – 3 – 3 6 – – – 6 2 – (6) 9 (39) 1 2 (31) 148 17 129 2 2022 168 9 6 (2) 1 2021 184 9 4 (3) 1 14 11 34 (141) 5 (7) (109) (1) – (5) – – 88 – 82 155 88 (2) 68 (6) (13) (1) 2 (18) (2) – (6) – (15) – 14 (9) 168 57 1 110

155

Notes to the consolidated financial statements 155 Plan assets are comprised as follows: Qualifying insurance policies Equity instruments Other funds Debt instruments Cash and cash equivalents Fair value of plan assets Significant actuarial assumptions used were as follows: Discount rate Rate of salary increase Rate of pension increase 2022 % a year Other European countries 4.20 3.25 2.27 Germany 4.20 2.25 2.06 UK 4.80 n/a 3.57 Germany 1.40 2.25 1.49 The breakdown of the weighted-average duration by geographical area is as follows: Germany Other European countries UK 2022 € m 52 40 9 4 1 106 2021 % a year Other European countries 1.16 4.04 1.00 2022 years 15 11 20 2021 € m 85 46 11 5 1 148 UK 1.80 n/a 3.70 2021 years 16 13 23 At 31 December 2022, the sensitivity of the defined benefit liabilities to changes in the weighted significant assumptions is as follows: Effect of 0.5 percentage point change in discount rate Effect of 0.5 percentage point change in rate of salary increase Effect of 0.5 percentage point change in rate of pension increase Effect of change in average life expectancy by 1 year Increase € m Decrease € m (14) 7 9 5 16 (5) (5) (5) The above sensitivity analysis is based on a change in an assumption while holding all other assumptions constant. At 31 December 2022, expected maturity analysis of undiscounted pension future cash flows is as follows: 2023 2024 2025 2026 2027 2028–2032 Expected pension payments € m 10 12 14 17 22 88

156

156 6.16. Equity 6.16.1. Share capital RTL Group Annual Report 2022 At 31 December 2022, the subscribed capital amounts to € 192 million (2021: € 192 million) and is represented by 154,742,806 (31 December 2021: 154,742,806) fully paid-up ordinary shares, without nominal value. At 31 December 2022, RTL Group’s share price, as listed on the Frankfurt Stock Exchange, was € 39.44 (31 December 2021: € 46.62). 6.16.2. Treasury shares Since 31 December 2020, the Group no longer holds treasury shares. 6.16.3. Currency translation reserve The currency translation reserve comprises: – all foreign exchange differences arising from the translation of the financial statements of foreign operations – reserves on investments accounted for using the equity method for foreign exchange translation differences – loans designated to form part of the Group’s net investment in specific undertakings, as repayment of those loans is not anticipated within the foreseeable future. 6.16.4. Hedging reserve The hedging reserve (equity attributable to non-controlling interests included) comprises the effective portion of the cumulative net change in the fair value of cash flow hedging instruments related to hedged transactions that have not yet occurred. Between 31 December 2021 and 31 December 2022, the hedging reserve increased by € 8 million before tax effects. Between 31 December 2020 and 31 December 2021, the hedging reserve increased by € 17 million before tax effects. 6.16.5. Revaluation reserve The revaluation reserve includes: – The cumulative change net of tax in the fair value of equity instruments at FVOCI (see note 6.6) for € 32 million (2021: € 13 million) – The cumulative increase in the fair value of the intangible assets and property, plant and equipment following the gains of control of Groupe M6 and M-RTL (2022: € 55 million; 2021: € 55 million). 6.16.6. Dividends Based on the resolution of the Annual General Meeting of Shareholders on 27 April 2022, the Annual General Meeting of Shareholders decided to distribute a final dividend of € 5 per share. Accordingly, an amount of € 774 million was paid out on 5 May 2022 (2021: € 464 million). 6.16.7. Share-based payment plans Groupe M6 has established free shares plans open to directors and certain employees. The number of free shares granted to participants is approved by the Supervisory Board of Métropole Télévision SA in accordance with the authorisation given by the Annual General Meeting of Shareholders. Plans allocated in October 2022: – one plan involves 160 beneficiaries and covers 291,050 shares, subject to beneficiaries remaining employed by the Group at 31 March 2025 and the achievement of consolidated EBITA objectives in 2022 – another plan covers a group of 25 beneficiaries and relates to 224,700 shares subject to a continued employment requirement of at least two years. It is allotted annually on the basis of multi-year performance conditions.

157

Notes to the consolidated financial statements 157 The maximum number of free shares granted and remaining free shares are as follows, whereby all plans are settled by physical delivery of shares: Maximum number of free shares granted48 Grant date Remaining free shares Free shares plans Total 30/07/2019 20/04/2021 20/04/2021 10/10/2022 10/10/2022 During the financial year, the balance of shares granted changed as follows: – 246,500 407,200 93,000 291,050 224,700 393,600 93,000 291,050 224,700 1,262,450 1,002,350 Balance at 31/12/2021 Change based on performance Granted Delivered Forfeited Balance at 31/12/2022 Free shares plans outstanding at the end of the year have the following terms: Free shares plans Total Number of shares 733,700 – 515,750 (237,000) (10,100) 1,002,350 Expiry date Number of shares 2022 Number of shares 2021 2022 2023 2024 2025 – 486,600 224,700 291,050 1,002,350 237,000 496,700 – – 733,700 The market price of Métropole Télévision shares on the Paris Stock Exchange was € 15.35 at 31 December 2022 (31 December 2021: € 17.16). The fair value of performance shares granted is based on the value of the share at date of grant less the current value of future dividends estimated for the period of unavailability. For all performance share plans, the maturity corresponds to the vesting period (i.e. 2 years, 2 years and 6 months or 2 years and 8 months). The features of plans, fair value of benefits granted and employee expenses are as follows: Grant date Free shares plans 25/07/2018 (2 plans) 30/07/2019 (2 plans) 20/04/2021 (2 plans) 10/10/2022 (2 plans) Total Share price € 16.92 15.35 18.38 10.34 Risk-free interest rate % a year (0.10)% (0.30)% (0.64)% 2.07 % Expected return % a year 5.66 % 6.97 % n/a 6.15 % Fair value € 14.97 13.23 14.34 8.38 Employee expense 2022 € m – 0.8 4.1 0.4 5.3 2021 € m 0.9 2.6 2.3 – 5.8 48 The maximum number of free shares granted if the performance conditions are significantly exceeded. Such number could be reduced to nil if objectives are not met

158

158 RTL Group Annual Report 2022 6.16.8. Non-controlling interests RTL Group has ownership interest of 48.4 per cent (after considering treasury shares held by Groupe M6) in Métropole Télévision SA which, together with its subsidiaries and investments accounted for using the equity method, represents Groupe M6, which is listed on the Paris Stock Exchange. Deviating from the ownership interests, RTL Group holds 48.3 per cent of the voting rights. The total non-controlling interests amounts to € 791 million at 31 December 2022 (2021: € 766 million), of which € 748 million (2021: € 733 million), is for Groupe M6. Non-controlling interests in other subsidiaries are individually immaterial. The following tables summarise the information relating to Groupe M6, before any intra-group elimination. Summarised financial information (as published by Groupe M6): Non-current assets Current assets Assets held for sale Current liabilities Non-current liabilities Liabilities related to assets held for sale Net assets Revenue Profit before tax Income tax expense Profit from continuing operations Profit from discontinued operations Group profit Other comprehensive income Total comprehensive income Dividends paid to non-controlling interest Net cash from/(used in) operating activities Net cash from/(used in) investing activities Net cash from/(used in) financing activities Net increase/(decrease) in cash and cash equivalents Groupe M6 2022 € m 888 1,099 – (535) (214) – 1,238 1,357 241 (75) 166 – 166 11 177 2021 € m 924 1,162 – (657) (226) – 1,203 1,390 358 (77) 281 – 281 – 281 (5) – 296 (80) (190) 26 456 (67) (237) 152 RTL Group’s subsidiary, Métropole Télévision SA, declared and paid cash dividends during the financial year 2022. The amount received within the Group was eliminated on consolidation and the amount paid to non- controlling interests was € 65 million (2021: € 98 million). Transactions on non-controlling interests without changes of control In June 2022, RTL Group exercised its right to acquire the remaining interest in Eureka, increasing its ownership from 51 per cent to 100 per cent. The consideration paid amounted to € 55 million and related to the settlement of a put option liability on the remaining share capital, which was recognised in connection with the acquisition of the majority interest in Eureka in 2021. The transaction was accounted for as an equity transaction in accordance with IFRS 10. The transaction resulted in an increase of the equity attributable to RTL Group shareholders in the amount of € 17 million and a decrease of the equity attributable to non-controlling interests in the amount of € –17 million. Carrying amount of interests acquired Increase in RTL Group shareholders’ equity – thereof increase in retained earnings – thereof increase in other comprehensive income Change in RTL Group shareholders’ equity € m 17 17 17 –

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Notes to the consolidated financial statements 159 7. Financial risk management 7.1. Financial risk factors The Group’s activities expose it to a variety of financial risks: market risk (including foreign exchange risk and interest rate risk), credit risk and liquidity risk. The Group is exposed in particular to risks from movements in foreign exchange rates as it engages in long-term purchase contracts for programme rights (output deals) denominated in foreign currency. Risk management is carried out by the Group Treasury department under the supervision of the Chief Financial Officer under policies approved by the Board of Directors. Group Treasury identifies, evaluates and hedges risks in close cooperation with the Group’s operating units. The Group’s overall risk management programme focuses on the unpredictability of financial markets and seeks to minimise potential adverse effects on the Group’s financial performance. The Board of Directors has issued written principles for overall risk management and written policies covering specific areas, such as market risk, credit risk, liquidity risk, use of derivatives and investment of excess liquidity. The Group seeks to minimise the potential adverse effects of changing financial markets on its performance using standard market financial derivatives, primarily unlisted (OTC) instruments such as foreign exchange forward contracts. Transactions are entered into with selected banks in line with the Bank Relationship Policy. Derivatives are not used for speculative purposes. Risks are hedged to the extent that they influence the Group’s cash flows (i.e. translational risk linked to the conversion of net investments in foreign operations is not hedged). 7.1.1. Market risk Foreign exchange risk Euro exchange rates for significant foreign currencies The following significant exchange rates have been applied: Foreign currency unit per € 1 British pound US dollar Australian dollar Average rates Closing rates 2022 0.8527 1.0534 1.5165 GBP USD AUD 2021 0.8598 1.1828 1.5748 31 December 2022 0.8869 1.0666 1.5693 31 December 2021 0.8413 1.1370 1.5647 Foreign exchange exposure The Group operates internationally and is exposed to foreign exchange risk arising from various currency exposures, primarily in respect of USD and GBP. Foreign exchange risk arises from recognised assets and liabilities, future commercial transactions and net investments in foreign operations. For the Group as a whole, cash flows, net income and net worth are optimised by reference to the Euro. However, foreign exchange risks faced by individual Group companies are managed or hedged against the functional currency of the relevant entity (as these entities generally generate their revenue in local currencies). The Group therefore manages a variety of currencies due to the numerous functional currencies of the companies constituting the Group. In addition, market practices in the television business imply a significant forward exposure to USD as programme rights are usually denominated in USD and not paid up-front. For this reason, the main off-balance sheet exposure of the Group is towards the USD in respect of future purchases and sales of programme rights, output deals (commitments for future cash flows) and highly probable forecast transactions (US-$ 2 million as at 31 December 2022, US-$ 7 million as at 31 December 2021). Management of foreign exchange exposure RTL Group management has set up a policy to require Group companies to manage their foreign exchange risk against their functional currency. Group companies are required to hedge their entire foreign currency exchange risk exposure with Group Treasury in accordance with the Group’s Treasury policies. All foreign currency exchange exposures – including signed and forecast output deals and programme rights in foreign currency – are centralised in an intranet-based database. To manage their foreign exchange risk arising from recognised assets

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160 RTL Group Annual Report 2022 and liabilities and future commercial transactions, entities in the Group use forward contracts transacted with Group Treasury. Group Treasury is then responsible for hedging, usually on a one-to-one basis, the exposure against the functional currency of the respective entity. The Group’s Treasury policy is to hedge up to 100 per cent of the recognised monetary foreign currency exposures arising from cash, accounts receivable, accounts payable, loans receivable and borrowings denominated in currencies other than the functional currency. The Group Treasury policy is to hedge between 80 per cent and 100 per cent of short-term cash flow forecasts and between 10 per cent and 80 per cent of longer term (between two and five years) cash flow forecasts. Approximately 68 per cent (2021: 75 per cent) of anticipated cash flows constitute firm commitments or highly probable forecast transactions for the purpose of hedge accounting. In order to monitor the compliance of the management of the foreign exchange exposure (mainly USD) with the Group’s policy, a monthly report is produced and analysed by RTL Group management. This report shows each subsidiary’s exposure to currencies other than their functional currency, detailing the nature (e.g. trade accounts, royalties, intercompany accounts) of on-balance sheet items, and the underlying deals and maturities of off-balance sheet items, as well as the corresponding hedging ratios. Accounting At interception of the hedging relationships, RTL Group documents the risk management objective and strategy for undertaking the hedge. RTL Group also documents the economic relationship between the hedged item and the hedging instrument, including whether the changes in cash flows of the hedged item and the hedging instrument are expected to offset each other. RTL Group separates the spot component and the forward (or swap) point of the forward contracts. Only the spot component is considered as the hedging instrument. Forward (or swap) points are accounted for directly in profit or loss accounts. The foreign currency cash flow hedge accounting model defined under IFRS 9 is applied by those companies that account for the majority of the Group’s foreign currency exposure, when: – Hedged foreign currency exposures relate to programme rights transactions that have not yet been recognised on the consolidated statement of financial position (such as forecast or firm purchases of programme rights for which the licence period has not yet begun) – Amounts are sufficiently material to justify the need for hedge accounting. When cash flow hedge accounting is applied, the effective portion of the changes in the fair value of the hedging instrument is recognised net of deferred tax in the cash flow hedging reserve as presented in ‘Consolidated statement of changes in equity’. It is released to the income statement in the periods in which the hedged item impacts the income statement. In case of hedging forecast purchases of programme rights in foreign currency the releases from cash flow hedging reserve are added to the carrying amount of the hedged item when such an item is recognised in the statement of financial position. The ineffective portion of the change in fair value of the hedging instrument is recognised directly in profit or loss. For the year ended 31 December 2022, the swap points have been recognised in the income statement for € 1 million (2021: € –4 million). For recognised foreign currency monetary assets and liabilities there is a natural offset of gains and losses in the income statement between the revaluation of the underlying derivatives and the exposure. Therefore, hedge accounting as defined under IFRS 9 is not applied. Foreign exchange derivative contracts The impact of forward foreign exchange contracts in the consolidated statement of financial position and in profit or loss is as follows: Net fair value of foreign exchange derivatives Operating foreign exchange gains/(losses) Non-operating foreign exchange gains/(losses) Gains/(losses) resulting from swap points 2022 € m (5) – (19) 1 2021 € m 12 (3) (10) (4)

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Notes to the consolidated financial statements Less than 3 months Less than 1 year Less than 5 years Net fair value of foreign exchange derivatives 161 2022 € m (10) 5 – (5) 2021 € m – 9 3 12 The items ‘Operating foreign exchange gains/(losses)’ and ‘Non-operating foreign exchange gains/(losses)’ relate to derivatives used to offset the currency exposure relating to recognised monetary assets and liabilities for which hedge accounting as defined under IFRS 9 is not applied. The split by maturities of notional amounts of forward exchange contracts at 31 December 2022 is, for the main foreign currencies, as follows: Buy Sell Total Buy Sell Total 2023 £ m 388 (533) (145) 2023 $ m 767 (353) 414 2024 £ m 125 (90) 35 2024 $ m 151 (142) 9 2025 £ m 12 (6) 6 2025 $ m 14 (12) 2 2026 £ m 4 (1) 3 2026 $ m 7 (5) 2 ≥ 2027 £ m 4 (2) 2 ≥ 2027 $ m 2 (6) (4) Total £ m 533 (632) (99) Total $ m 941 (518) 423 The split by maturities of notional amounts of forward exchange contracts at 31 December 2021 is, for the main foreign currencies, as follows: Buy Sell Total Buy Sell Total 2022 £ m 175 (344) (169) 2022 $ m 609 (560) 49 2023 £ m 75 (59) 16 2023 $ m 143 (126) 17 2024 £ m 87 (44) 43 2024 $ m 61 (106) (45) 2025 £ m 1 (1) – 2025 $ m 2 (1) 1 2026 £ m 2 (1) 1 2026 $ m 1 (3) (2) Total £ m 340 (449) (109) Total $ m 816 (796) 20 Sensitivity analysis to foreign exchange rates Management estimates that: – If the USD had been 10 per cent stronger compared to the € (respectively weaker), with all other variables held constant, this would have had no material impact on the Group’s profit or loss (2021: no material impact), and an additional pre-tax € 22 million gain (respectively loss) (2021: € 9 million gain (respectively loss)) recognised in total comprehensive income in equity – If the GBP had been 10 per cent stronger compared to the € (respectively weaker), with all other variables held constant, this would have had no material impact on the Group’s profit or loss (2021: no material impact), and no material impact on the pre-tax expense (respectively income) recognised in total comprehensive income in equity (2021: no material impact) – If other currencies had been 10 per cent stronger compared to the € (respectively weaker), with all other variables held constant, this would have had no material impact on the Group’s profit or loss (2021: no material impact) and no material impact on the pre-tax expense (respectively income) recognised in total comprehensive income in equity (2021: no material impact). This sensitivity analysis does not include the impact of translation into € of foreign operations.

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162 RTL Group Annual Report 2022 Interest rate risk The objective of the interest rate risk management policy is to minimise the interest rate funding cost over the long-term and to maximise the excess cash return. The Group interest rate risk arises primarily from loans payable, financing agreements with Bertelsmann SE & Co. KGaA and its subsidiaries (see note 10.1) and from cash and cash equivalents. During the third quarter of 2017, Groupe M6 secured external funding of € 170 million, including a seven-year Euro private placement bond issue (seven-year Euro private placement bond) of € 50 million and two bilateral committed credit facilities for a total of € 120 million with a maturity of five years. The fixed interest rate on the Euro private placement bond is 1.50 per cent (all-in). The fair value of the seven-year Euro private placement bond − calculated as the present value of the payments associated with the debt and based on the applicable yield curve and Groupe M6 credit spread − amounts to € 51 million (2021: € 51 million). During the third quarter of 2019, Groupe M6 entered into a seven-year-term Schuldschein loan of € 75 million including a credit line of € 65 million with a fixed rate of 1 per cent and a credit facility for € 10 million with a floating rate of EURIBOR six months (floored at zero per cent) plus a margin of 1 per cent per year. The fair value of the seven-year-term Schuldschein of € 65 million − calculated as the present value of the payments associated with the debt and based on the applicable yield curve and Groupe M6 credit spread − amounts to € 65 million (2021: € 65 million). In order to maximise the excess cash return on cash balances and to minimise the gross indebtedness of the Group, cross-border cash pooling has been set up for most Group entities. The interest rate strategy defined by RTL Group depends on the net cash position of each company. Group Treasury uses various indicators to monitor interest rate risk, such as a targeted net fixed/floating rate debt ratio, duration, basis point value (increase in interest rate costs resulting from a basis point increase in interest rate) and interest cover ratio. If the interest rates achieved had plus or minus 100 basis points, and assuming the current amount of floating net cash available remained constant, the net interest income/(expense) at 31 December 2022, would have been changed as follows: Cash flow risks (income statement) 31 December 2022 31 December 2021 Shift +1 % € m 3.0 Shift (1)% € m (3.0) Shift +1 % € m 4.7 Shift (1)% € m (0.3) 7.1.2. Credit risk RTL Group’s exposure to credit risk primarily arises through sales made to customers (trade receivables), investments in money market funds classified in cash and cash equivalents, and deposits made with banks and the shareholder. Credit risk is managed on a Group basis, except for credit risk relating to accounts receivable balances, which are managed by individual subsidiaries. The Group’s television and radio operations incur exposure to credit risk when making transactions with advertising agencies or direct customers. In 2022, combined television and radio advertising revenue contributed 43 per cent of the Group’s revenue (2021: 50 per cent). Due to its business model, RTL Group’s exposure to credit risk is directly linked to the final client. However, the risks are considered to be low due to the size of the individual companies or agency groups. RTL Group sells, licenses and monetises content to state-owned and commercial television channels and internet platforms. In 2022, these activities contributed 34 per cent of the Group’s revenue (2021: 31 per cent). Given the limited number of television broadcasters in different countries, there is a high degree of concentration of credit risk. However, given the long-standing relationships between content providers and broadcasters, and the fact that the customers are large businesses with solid financial positions, the level of credit risk is significantly mitigated.

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Notes to the consolidated financial statements 163 RTL Group also has policies in place to ensure that sales of products and services are made to customers with an appropriate credit history. According to the Group’s banking policy, derivative instruments and cash transactions (including bank deposits and investments in money market funds) are operated only with high credit quality financial institutions in order to mitigate counterparty risk (only independently rated parties with a minimum rating of ‘BBB+’ are accepted for bank deposits for the smallest tranches). The Group’s bank relationship policy sets forth stringent criteria for the selection of banking partners and money market funds (such as applicable supervisory authorities, investment policy, maximum volatility, track record, rating, cash and cash equivalents as defined under IAS 7). To mitigate settlement risk, the Group has policies that limit the amount of credit exposure to any one financial institution on any single day. Statistics (such as the percentage of the business allocated to each bank over the year, or a summary of the highest intraday exposures by bank and maturity date) are computed and used daily to ensure credit risk is mitigated in practice at any time. The carrying amount of financial assets represents their maximum credit exposure. For trade receivables and contract assets, RTL Group uses a simplified approach to measure expected credit losses. According to this, the loss allowance is measured using lifetime expected credit losses. For this purpose, impairment matrices based on historic bad debt losses, maturity bands and expected credit losses have been prepared. The impairment matrices were created for business unit-specific groups of receivables, each with similar default patterns. In addition, separate risk assessments are performed. Contract assets have substantially the same risk characteristics as trade receivables for the same types of contracts, so that the expected loss rates for trade receivables are a reasonable approximation of the loss rates for contract assets. As at 31 December 2022 Average expected loss rate Gross carrying amount Loss allowance As at 31 December 2021 Average expected loss rate Gross carrying amount Loss allowance More than 30 days past due €m 1.52 % 66 1 More than 30 days past due €m 2.27 % 44 1 More than 90 days past due € m 7.94 % 63 5 More than 90 days past due € m 9.80 % 51 5 Total € m 1,347 11 Total € m 1,266 12 Current €m 0.41 % 1,218 5 Current €m 0.51 % 1,171 6 At 31 December 2022, the gross carrying amount of credit impaired trade receivables and contract assets amounts to € 39 million with € 34 million loss allowance (2021: € 35 million and € 31 million, respectively). The other accounts receivables are considered to be of low default risk. The Group has a significant concentration of credit risk due to its relationship with Bertelsmann. Nevertheless, credit risk arising from transactions with the principal shareholder or its subsidiaries is significantly mitigated (see note 10.1). RTL Group considers that there is a low concentration of credit risk for other counterparties. 7.1.3. Price risk The Group is subject to price risk mainly linked to equity securities, earn-out mechanisms, put options on non-controlling interests and derivatives, and investments accounted for using the equity method. The primary goal of the Group’s investment in equity securities categorised as FVOCI is to hold such investments for the long term for strategic purposes. Some investments designated at FVTPL are actively monitored on a fair value basis.

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164 RTL Group Annual Report 2022 7.1.4. Liquidity risk Prudent liquidity risk management implies maintaining sufficient cash, the availability of funding through an adequate amount of committed credit facilities and the ability to close out market positions. Due to the dynamic nature of the underlying business, management aims to maintain flexibility in funding by keeping committed credit lines available despite the total cash situation. Cash flow forecasting is performed in the operating entities of the Group. Group Treasury monitors rolling forecasts on the Group’s liquidity requirements to ensure it has sufficient headroom to meet operational needs. Management monitors, on a monthly basis, the level of the ‘liquidity headroom’ (total committed facilities minus current utilisation through bank loans and guarantees). Credit facilities – banks Committed facilities Headroom Credit facilities – banks Committed facilities Headroom Under 1 year €m 1 to 5 years €m Over 5 years € m – – 247 122 – – Under 1 year €m 1 to 5 years €m Over 5 years € m 2022 € m 247 122 2021 € m – – 230 180 75 – 305 180 Surplus cash held by the operating entities over and above balances required for working capital management is transferred to Group Treasury. Group Treasury invests surplus cash in interest-bearing current accounts, time deposits, money market funds or deposits with Bertelsmann SE & Co. KGaA (see note 10.1) choosing instruments with appropriate maturities or sufficient liquidity to provide sufficient headroom as determined by the above- mentioned forecasts. The table below analyses the Group’s financial liabilities into relevant maturity groupings based on the remaining period at the closing date to the contractual maturity date. The amounts disclosed in the table below are the contractual undiscounted cash flows. Non-derivative financial liabilities Loans and bank overdrafts Lease liabilities Accounts payable and other non-derivative financial liabilities At 31 December 2022 Derivative financial liabilities Forward exchange contracts used for hedging: – Outflow – Inflow At 31 December 2022 Under 1 year €m 547 91 1,796 2,434 (1,027) 984 (43) 1 to 5 years €m 134 220 139 493 (181) 167 (14) Over 5 years € m 4 97 91 192 (2) 2 – Total € m 685 408 2,026 3,119 (1,210) 1,153 (57)

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Notes to the consolidated financial statements Non-derivative financial liabilities Loans and bank overdrafts Lease liabilities Accounts payable and other non-derivative financial liabilities At 31 December 2021 Derivative financial liabilities Forward exchange contracts used for hedging: – Outflow – Inflow At 31 December 2021 Under 1 year €m 49 65 2,286 2,400 (791) 779 (12) 1 to 5 years €m 556 192 81 829 (221) 215 (6) Over 5 years € m 79 102 165 Total € m – 684 359 2,367 3,410 181 – (1,012) – 994 (18) – 7.2. Capital management The Group monitors capital on the basis of its net debt to EBITDA ratio (non-IFRS measure). The Group’s ability and intention to pay dividends in the future will depend on its financial condition, results of operations, capital requirements, investment alternatives and other factors that management may deem relevant. Management expects that the principal source of funds for the payment of dividends will be the cash flow and dividends received from its current and future subsidiaries. The Group intends to pay ordinary dividends in the future targeting a dividend payout ratio of at least 80 per cent of the adjusted net profit attributable to RTL Group shareholders. The adjusted net profit (non-IFRS measure) is the reported net result available to RTL Group shareholders, adjusted for any material non-cash impacts such as goodwill impairments. 7.3. Accounting classifications and fair value hierarchy 7.3.1. Financial instruments by category The fair value of each class of financial assets and liabilities is equivalent to its carrying amount. Assets Loans and other financial assets Accounts receivable and other financial assets Cash and cash equivalents At 31 December 2022 Liabilities Loans and bank overdrafts Lease liabilities Accounts payable and other financial liabilities At 31 December 2022 Financial assets at FVTPL €m 9 127 170 306 Equity instruments at FVOCI €m 29 – – 29 Derivatives at FVTPL € m 14 38 – 52 Financial assets at amortised cost € m 59 2,015 419 2,493 Liabilities at FVTPL €m – – Derivatives at FVTPL € m – – 22 22 57 57 Financial liabilities at amortised cost € m 685 385 1,981 3,051 Total € m 111 2,180 589 2,880 Total € m 685 385 2,060 3,130

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166 RTL Group Annual Report 2022 Assets Loans and other financial assets Accounts receivable and other financial assets Cash and cash equivalents At 31 December 2021 Liabilities Loans and bank overdrafts Lease liabilities Accounts payable and other financial liabilities At 31 December 2021 Financial assets at FVTPL €m 17 274 – 291 Equity instruments at FVOCI €m 37 – – 37 Derivatives at FVTPL € m 8 21 – 29 Financial assets at amortised cost € m 55 2,984 547 3,586 Liabilities at FVTPL €m – – 4 4 Derivatives at FVTPL € m – – 17 17 Financial liabilities at amortised cost € m 684 332 2,362 3,378 Total € m 117 3,279 547 3,943 Total € m 684 332 2,383 3,399 7.3.2. Fair value hierarchy The different levels have been defined as follows: – Level 1: quoted prices (unadjusted) in active markets for identical assets (or liabilities) – Level 2: inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. prices) or indirectly (i.e. derived from prices) – Level 3: inputs for the asset or liability that are not based on observable market data (unobservable inputs). Listed financial instruments with contractual trading restrictions (lock-ups) are also measured on the basis of unobservable factors. The following table presents the Group’s financial assets and liabilities measured at fair value. Assets Equity instruments at FVOCI Equity instruments at FVTPL Debt instruments at FVTPL Primary and derivative financial assets held for trading Derivatives with hedge relation Other cash equivalents At 31 December 2022 Liabilities Primary and derivative financial liabilities held for trading Derivatives with hedge relation Contingent consideration Liabilities in relation to put options on non-controlling interests At 31 December 2022 Total € m 29 133 3 39 13 170 387 48 9 22 – 79 Level 1 €m – 123 – – – – 123 – – – – – Level 2 € m – – – 39 13 170 222 48 9 – – 57 Level 3 € m 29 10 3 – – – 42 – – 22 – 22

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Notes to the consolidated financial statements 167 Assets Equity instruments at FVOCI Equity instruments at FVTPL Debt instruments at FVTPL Primary and derivative financial assets held for trading Derivatives with hedge relation Other cash equivalents At 31 December 2021 Liabilities Primary and derivative financial liabilities held for trading Derivatives with hedge relation Contingent consideration Liabilities in relation to put options on non-controlling interests At 31 December 2021 Total € m 37 280 11 19 10 – 357 14 3 4 – 21 Level 1 €m 5 190 – – – – 195 – – – – – Level 2 € m – – – 19 10 – 29 14 3 – – 17 Level 3 € m 32 90 11 – – – 133 – – 4 – 4 The amount disclosed in ’Equity instruments at FVTPL’ mainly (€ 123 million; 2021: € 190 million) relates to the Magnite shares RTL Group received as part of the non-cash consideration from the sale of SpotX in 2021. The effect from re-measurement of these shares amounted to € –67 million and is disclosed in ‘Fair value measurement of investments’. The fair value of financial instruments traded in active markets is based on quoted market prices at the balance sheet date. A market is regarded as active if quoted prices are readily and regularly available from an exchange, dealer, broker, industry group, pricing service, or regulatory agency, and those prices represent actual and regularly occurring market transactions on an arm’s length basis. These instruments are included in Level 1. The quoted market price used for financial assets by the Group is the current bid price. The fair value of financial instruments that are not traded in an active market is determined using valuation techniques. These valuation techniques maximise the use of observable market data where it is available and rely as little as possible on entity-specific estimates. If all significant inputs required are observable, the instrument is included in Level 2. If one or more of the significant inputs is not based on observable market data, the instrument is included in Level 3. Listed financial instruments with contractual trading restrictions (lock-ups) are also measured on the basis of unobservable factors and included in Level 3. The Group’s Treasury and Controlling teams perform the recurring and non-recurring valuations of items to be valued at fair value for financial purposes, including Level 3 fair values. These teams report directly to the Chief Financial Officer, who reports to the Audit Committee at least once every quarter, in line with the Group’s quarterly reporting dates. The main Level 3-related inputs used by RTL Group relate to the determination of the expected discounted cash flows and the discount rates used in the different valuations. Specific valuation techniques used to value financial instruments include: – For measuring the fair value of unlisted derivatives, RTL Group uses various financial methods reflecting the prevailing market conditions and risks at the respective balance sheet dates. Irrespective of the type of financial instrument, future cash flows are discounted at the end of the reporting period based on the respective market interest rates and yield curves at the end of the reporting period. The fair value of forward exchange transactions is calculated using middle spot prices at the end of the reporting period and taking into account forward markdowns and markups for the remaining term of the transactions. (Level 2) – For instruments classified under Level 3, other techniques, such as discounted cash flow analysis or option pricing models are used. These are based for the main instruments on significant unobservable inputs (for example forecast revenue growth rates and market multiples) to determine fair value for the remaining financial instruments. Volatility is primarily determined by reference to comparable, publicly traded peers. Transfers between levels of the fair value hierarchy are recognised at the date of the event or change in circumstances that caused the transfer.

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168 RTL Group Annual Report 2022 The following table presents the change in Level 3 instruments: Balance at 1 January 2022 Acquisitions and additions Gains and losses recognised in other comprehensive income Gains and losses recognised in profit or loss Settlements Transfers out of Level 3 Other changes Balance at 31 December 2022 Financial assets at FVTPL €m 101 4 – – (92) – – 13 Assets Equity instruments at FVOCI €m 32 4 (6) – (1) – – 29 Liabilities Liabilities at FVTPL € m 4 22 – (1) (3) – – 22 Total assets € m 133 8 (6) – (93) – – 42 The amount disclosed in ’Acquisitions and additions’ in the liabilities column relates to liabilities resulting from contingent consideration arrangements on acquisitions conducted by Fremantle. The respective expected cash inflows are estimated based on the relevant terms of the sale and purchase agreements and RTL Group’s knowledge of the business of acquired entities, and how the current economic environment is likely to impact it. In the financial year 2022, the amount disclosed in ‘Settlements’ relates to the sale of the investment in VideoAmp – a US software and data company for media measurement – in January 2022. There were no transfers in or out of Level 3 during 2022. Balance at 1 January 2021 Acquisitions and additions Gains and losses recognised in other comprehensive income Gains and losses recognised in profit or loss Settlements Transfers out of Level 3 Other changes Balance at 31 December 2021 Financial assets at FVTPL €m 18 404 (3) 11 (13) (316) – 101 Assets Equity instruments at FVOCI €m 31 – 1 – – – – 32 Liabilities Liabilities at FVTPL € m 5 1 – – (2) – – 4 Total assets € m 49 404 (2) 11 (13) (316) – 133 In 2021, the amount disclosed in ’Acquisitions and additions’ mainly related to the Magnite shares RTL Group received as part of the non-cash consideration from the sale of SpotX (€ 381 million). Due to the contractual lockup the Magnite shares were assigned to Level 3. After the expiry of the lock-up period, the listed Magnite shares were assigned to Level 1. The effect from re-measurement of these shares until the transfer out of Level 3 amounted to € –61 million and was disclosed in ‘Gains and losses recognised in profit or loss’. A further effect of € 66 million recognised in profit or loss related to the valuation of investment in VideoAmp. The effect in ‘Settlements’ related to the partial repayment of the convertible note obtained from BBTV Holdings Inc. There were no additional transfers in or out of Level 3 during 2021. 7.4. Master netting agreement The Group enters into derivative transactions under International Swaps and Derivatives Association (ISDA) master netting agreements. In certain circumstances – e.g. when a credit event such as a default occurs – all outstanding transactions under the agreement are terminated, the termination value is assessed and only a single net amount is payable in settlement of all transactions. The ISDA agreements do not meet the criteria for offsetting in the statement of financial position. This is because the Group does not currently have any legally enforceable right to offset recognised amounts, because the right to offset is enforceable only on the occurrence of future events such as a bank loan default or other credit event.

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Notes to the consolidated financial statements 169 The following table sets out the carrying amounts of recognised financial instruments that are subject to the above agreements. The column ‘net amount’ shows the impact on the consolidated statement of financial position if all set-off rights were exercised. At 31 December 2022 At 31 December 2021 Gross amounts in the statement of financial position € m Related financial instruments that are not offset € m Gross amounts in the statement of financial position € m Related financial instruments that are not offset € m Net amount € m 52 52 (57) (57) (43) (43) 43 43 9 9 (14) (14) 29 29 (17) (17) (16) (16) 16 16 Net amount € m 13 13 (1) (1) Financial assets Derivative financial instruments – Forward exchange contracts used to offset currency exposure Financial liabilities Derivative financial instruments – Forward exchange contracts used to offset currency exposure 8. Commitments and contingencies Guarantees and endorsements given Contracts for purchasing rights, (co-)productions and programmes Satellite transponders Leases signed but not yet commenced Purchase obligations in respect of transmission and distribution Other long-term contracts and commitments 2022 € m 27 1,704 20 – 153 236 2021 € m 49 1,378 28 23 166 145 The Group has investments in unlimited liability entities. In the event that these entities make losses, the Group may have to participate to the entire amount of losses, even if these entities are not wholly owned. Some Dutch companies have elected to make use of the exemption to publish annual accounts in accordance with Section 403(1b) of the Dutch Civil Code. In order to fulfil the conditions set out in the regulations, the Company has given a statutory guarantee of all outstanding liabilities to which the subsidiaries are subject at the end of the financial year 2022. A full list of the concerned companies is provided in note 12. In the course of their activities, several Group companies benefit from licence frequency agreements, which commit the Group in various ways depending upon the legal regulation in force in the countries concerned. 8.1. Purchase obligations in respect of transmission and distribution These obligations result from agreements with providers of services related to the terrestrial and cable transmission and distribution of the signals of the Group’s TV channels and radio stations. 8.2. Other long-term contracts and commitments Long-term contracts include contracts for services, agreements to purchase assets or goods, and commitments to acquire licences other than audio-visual rights and television programming that are enforceable and legally binding and that specify all significant terms.

170

170 RTL Group Annual Report 2022 9. Cash flow statement The consolidated cash flow statement has been prepared in accordance with IAS 7 and is used to evaluate the Group’s ability to generate cash and cash equivalents. Cash flows are divided into those relating to operating activities, investing activities and financing activities. Cash flows from operating activities are presented using the indirect method, whereby profit before tax is adjusted for the effects of a non-cash nature, any deferrals or accruals of past or future operating receipts or payments, and items of income or expenses associated with investing cash flows. In addition, cash flows arising from income taxes are classified as cash flows from operating activities as well as other cash flows that are neither investing nor financing. The change in provisions for pensions and similar obligations represents the balance of personnel costs for pensions and similar obligations and company payments for these obligations (see note 6.15). Contributions to pension plans totalling € –1 million (2021: € –2 million) were also included in this item. ‘Financial results including net interest expense and share of results of investments accounted for using the equity method’ of the cash flow from operating activities includes the adjustments of results from investments accounted for using the equity method, taking into account dividends received from these investments, and adjustments in connection with non-cash income and expenses. The consolidated cash flow statement includes the effects of changes in foreign currencies and changes in the scope of consolidation. Items in the consolidated cash flow statement thus cannot be reconciled with changes in items reported in the statement of financial position. Investing activities include payments for investments in non-current assets and purchase price payments for acquisitions as well as proceeds from the disposal of non-current assets and investments. Further explanations concerning acquisitions made during the financial year are presented in note 4.2. Disposals made during the financial year are also presented separately in note 4.3. Financial debt of € –46 million (2021: € –12 million) was assumed during the reporting period, of which € 3 million was repaid at the closing date. Its repayment is presented in ‘Acquisitions of: Subsidiaries, net of cash acquired’. In 2022, no financial debt was disposed of. In the previous year, losing control of subsidiaries or other businesses resulted in the disposal of financial debt of an immaterial amount. ‘Proceeds from the sale of investments accounted for using the equity method, other investments and financial assets’ mainly relates to disposal of the entire investment in VideoAmp for US-$ 104 million (€ 92 million) in cash in January 2022. The transaction was carried out as a share buyback by VideoAmp. ‘Cash flow from financing activities’ includes changes in equity, financial debt, lease liabilities and dividend distributions affecting cash, as well as interest paid (including interest paid due to leases). Total cash outflows from leases amounted to € –86 million (2021: € –69 million). The following tables show the cash changes and non-cash changes of liabilities arising from financing activities: Non-cash changes 1 January 2022 € m – 153 Acquisitions through business combinations € m – 36 Disposals through business combinations € m – – Cash changes € m 1 (32) Exchange rate effects € m – – Other changes € m – – 31 December 2022 € m 1 157 1 500 17 332 – – (12) (81) 1,003 (124) – – 7 13 56 – – – (1) (1) – – – – – – – 1 122 1 500 13 385 123 1,057 Bank overdrafts Bank loans payable Loans due to investments accounted for using the equity method Term loan facility due to shareholder Other loans payable Lease liabilities Liabilities arising from financing activities

171

Notes to the consolidated financial statements 171 Non-cash changes Acquisitions through business combinations € m – – Disposals through business combinations € m – – Cash changes € m – (31) Exchange rate effects € m – – Other changes € m (1) 31 December 2021 € m – – 153 (29) – 3 (63) – – – 13 13 – – – (4) (4) – – – 3 3 (28) – 4 (1) 1 500 17 332 (26) 1,003 1 January 2021 € m 1 184 58 500 10 384 1,137 (120) Bank overdrafts Bank loans payable Loans due to investments accounted for using the equity method Term loan facility due to shareholder Other loans payable Lease liabilities Liabilities arising from financing activities As at 31 December 2022, the other non-cash changes in lease liabilities mainly related to lease contracts newly concluded and extended lease contracts in the financial year 2022. As at 31 December 2021, the other non-cash changes in loans due to investments accounted for using the equity method related to the conversion of the loan partly paid in 2021 into a cash pooling arrangement after Super RTL became a subsidiary of RTL Group.

172

172 10. Related parties RTL Group Annual Report 2022 Identity of related parties At 31 December 2022, the principal shareholder of RTL Group is Bertelsmann Capital Holding GmbH (BCH) (76.28 per cent). The remainder of the Group’s shares are publicly listed on the Frankfurt and Luxembourg Stock Exchanges. The Group also has a related party relationship with its associates, joint ventures and with its directors and executive officers. 10.1. Transactions with shareholders and subsidiaries Sales and purchases of goods and services During the year the Group made sales of goods and services to and purchases of goods and services from Bertelsmann Group amounting to € 34 million (2021: € 112 million) and € 62 million (2021: € 67 million) respectively. At the year-end, the Group had trade accounts receivable and payable due from/to Bertelsmann Group amounting to € 14 million (2021: € 13 million) and € 18 million (2021: € 37 million) respectively. Dividend income In 2022 RTL Group received a dividend of € 1 million (2021: € nil) by Bertelsmann Business Support Sàrl related to a 10 per cent stake in the entity. A 25-year shareholders’ agreement has been concluded between Bertelsmann SE & Co. KGaA and RTL Group SA. The shareholders agreement stipulates that 50 per cent of the aggregate amount of corporate and trade tax that, in the absence of existing tax losses carried forward of Bertelsmann Business Support Sàrl, if any, would have otherwise been incurred by the Company, will be paid to RTL Group SA as a preferred dividend with a minimum amount of € 1 million per year. The minimum dividend of € 1 million became payable as from 2016 onwards and has been recognised at contract inception for the entire contract duration. Only excessive amounts are recognised in profit or loss. The dividend accounts receivable amounts to € 14 million as at 31 December 2022 (2021: € 15 million). Lease agreement As at 1 January 2022, RTL Group has entered into a sub-lease agreement with RM Hamburg Holding GmbH, a subsidiary of Bertelsmann SE & Co. KGaA, for premises in Hamburg, Germany. The lease contract expires on 31 January 2025. The lease payments in the financial year 2022 amount to € 12 million. The payables from this lease agreement as at 31 December 2022 amount to € 26 million. The lease payments of RTL Group correspond to the payments of Bertelsmann from the head lease. Deposits Bertelsmann SE & Co. KGaA In 2006, RTL Group SA entered into a Deposit Agreement with Bertelsmann SE & Co. KGaA, the main terms of which are the following at 31 December 2022: – Interest rates are based on ESTR (floored to zero) plus 10 basis points – Bertelsmann SE & Co. KGaA grants to RTL Group as security for all payments due by Bertelsmann SE & Co. KGaA a pledge on: – All shares of its wholly owned French subsidiary, Média Communication SAS – All shares of its wholly owned Spanish subsidiary, Media Finance Holding SL (Arvato excluded) – All shares of its wholly owned German subsidiary, RM Hamburg Holding GmbH – All shares of its wholly owned English subsidiary, Bertelsmann UK Ltd (Arvato excluded). The shares of RM Hamburg Holding GmbH and shares of Bertelsmann UK Ltd have also been granted as pledge by Bertelsmann SE & Co. KGaA to CLT-UFA SA, a subsidiary of RTL Group, in connection with the accounts receivable related to PLP and Compensation Agreements as defined below. On 22 December 2011, RTL Group GmbH (formerly RTL Group Deutschland GmbH), a Group company, and Bertelsmann SE & Co. KGaA entered into an agreement related to the deposit of surplus cash by RTL Group GmbH with the shareholder. To secure the deposit, Bertelsmann pledged to RTL Group GmbH its shares of RM Hamburg Holding GmbH. On 26 March 2021, an amendment to the pledge agreement was signed between RTL Group SA, RTL Group GmbH, CLT-UFA SA, Bertelsmann SE & Co. KGaA, Reinhard Mohn GmbH and Bertelsmann Business Support Sàrl that precises the valuation methodology of the pledged shares and grants to RTL Group an additional pledge on all current repayment claims of Bertelsmann Business Support Sàrl against RTL Group GmbH under the Term Loan Facility of € 500 million.

173

Notes to the consolidated financial statements 173 At 31 December 2022, the deposit of RTL Group GmbH with Bertelsmann SE & Co. KGaA amounted to € 197 million (2021: € 458 million). The interest income for the period is € 1 million (2021: € nil million). On 30 April 2021, Bertelsmann, Inc. signed a promissory note for a total amount of US-$ 705 million. On 1 September, an amended version was signed including a remuneration of five basis points on the outstanding amount. At 31 December 2022, the outstanding amount was EUR-equivalent € 79 million (2021: € 336 million). The interest income/expense for the year was € nil million (2021: € nil million). Loans from Bertelsmann SE & Co. KGaA and Bertelsmann Business Support S.à.r.l. On 7 March 2013, RTL Group GmbH and Bertelsmann SE & Co. KGaA entered into a shareholder loan agreement pursuant to which Bertelsmann makes available a term loan facility in the amount of €500 million and a revolving and swing line facility in the amount of up to €1 billion. The revolving loan terminated in February 2018. RTL Group has re-negotiated an extension for another five-year period. The main terms of these facilities are: – Term loan facility of € 500 million until 7 March 2023 bearing a fixed interest rate of 2.713 per cent per annum; RTL Group SA has the right to early repay the loan subject to break costs. On 23 June 2016, the term loan facility of € 500 million was transferred from Bertelsmann SE & Co. KGaA to Bertelsmann Business Support Sàrl controlled by Bertelsmann Luxembourg Sàrl. At 31 December 2022, the term loan balance amounts to € 500 million (2021: € 500 million). The fair value of the 10-year-term facility − calculated as the present value of the payments associated with the debt and based on the applicable yield curve and RTL Group credit spread − amounts to € 513 million (2021: € 538 million). This loan was set-off at the beginning of March 2023 by two new term loan facilities in the amount of €200 million and €300 million respectively (see note 11). – The interest rates for loans under the revolving and swingline facility are EURIBOR (floored at zero per cent) plus a margin of 0.40 per cent per annum, and ESTR (floored at zero per cent) plus a margin of 0.40 per cent per year, respectively. A commitment fee of 30 per cent of the applicable margin is payable on the undrawn amount of the total credit facility. At 31 December 2022, the total of revolving and swingline loan amounts to € nil million (2021: € nil million). The Revolving Credit Facility was renewed at its anniversary with the new market conditions (see note 11). The interest expense for the period amounts to € 14 million (2021: € 14 million). The commitment fee charge for the period amounts to € 1.2 million (2021: € 1.2 million). Tax On 26 June 2008, the Board of Directors of RTL Group agreed to proceed with the tax pooling of its indirect subsidiary RTL Group GmbH (RGG) into BCH, a direct subsidiary of Bertelsmann SE & Co. KGaA. To that effect, RGG entered into a Profit and Loss Pooling Agreement (PLP Agreement) with BCH for a six-year period starting 1 January 2008. Simultaneously, Bertelsmann SE & Co. KGaA entered into a Compensation Agreement with CLT-UFA, a direct subsidiary of RTL Group, providing for the payment to CLT-UFA of an amount compensating the above profit transfer and an additional commission (‘Commission’) amounting to 50 per cent of the tax saving based upon the taxable profit of RGG. Through these agreements, as from 1 January 2008, Bertelsmann SE & Co. KGaA and the RGG sub-group of RTL Group are treated as a single entity for German income tax purposes. As the PLP Agreement does not give any authority to BCH to instruct or control RGG, it affects neither RTL Group nor RGG’s ability to manage their business, including their responsibility to optimise their tax structures as they deem fit. After six years, both PLP and Compensation Agreements are renewable on a yearly basis. RGG and CLT-UFA have the right to request the early termination of the PLP and Compensation Agreements under certain conditions. On 15 May 2013, the Board of Directors of RTL Group agreed to the amendment of the Compensation Agreement in light of the consumption of the trade tax and corporate tax losses at the level of Bertelsmann SE & Co. KGaA and of the expected level of indebtedness of RTL Group in the future. The PLP Agreement was slightly amended in 2014 on the basis of a recent change to German corporate tax law and in 2022 following the acquisition of Gruner + Jahr Deutschland GmbH, Deutsche Medien Manufaktur GmbH & Co KG and 11 Freunde Verlag GmbH & Co KG.

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174 RTL Group Annual Report 2022 In the absence of specific guidance in IFRS, RTL Group has elected to recognise current income taxes related to the RGG sub-group based on the amounts payable to Bertelsmann SE & Co. KGaA and BCH as a result of the PLP and Compensation Agreements described above. Deferred income taxes continue to be recognised, based upon the enacted tax rate, in the consolidated financial statements based on the amounts expected to be settled by the Group in the future. The Commission, being economically and contractually closely related to the Compensation, is accounted for as a reduction of the tax due under the Agreements. At 31 December 2022, the balance payable to BCH amounts to € 322 million (2021: € 731 million) and the balance receivable from Bertelsmann SE & Co. KGaA amounts to € 306 million (2021: € 648 million). For the year ended 31 December 2022, the German income tax in relation to the tax pooling with Bertelsmann SE & Co. KGaA amounts to € 32 million (2021: € 130 million). The Commission amounts to € 16 million (2021: € 46 million). As from 1 July 2019, RGG entered into the VAT tax group with Bertelsmann SE & Co. KGaA. Bertelsmann SE & Co. KGaA and the RGG sub-group are treated as a single entity for German VAT purposes. The UK Group relief of Fremantle Group to Bertelsmann Group resulted in a tax income of € 6 million (2021: € 4 million). All Danish entities under common control by an ultimate parent are subject to Danish tax consolidation, which is mandatory under Danish tax law. Riverty Denmark A/S – a 100 per cent held subsidiary of Bertelsmann SE & Co. KGaA – was elected as the management company of the Bertelsmann Denmark Group. All Spanish entities with a direct or indirect shareholding of at least 75 per cent by an ultimate parent are subject to Spanish tax consolidation which is mandatory under Spanish tax law. Bertelsmann SE & Co. KGaA appointed Bertelsmann España, S.L. as Spanish representative of the consolidated tax group in Spain. Transactions under common control In January 2022, RTL Deutschland acquired 100 per cent of the share capital of Gruner + Jahr Deutschland GmbH. The acquisition was preceded by the decision of RTL Group in August 2021 to acquire Gruner + Jahr’s German publishing assets and brands from Bertelsmann to create a German cross-media champion across TV, streaming, print, radio and digital. As part of the Gruner + Jahr acquisition, 50 per cent of the capital of Deutsche Medien Manufaktur (DMM) was transferred downstream to RTL Deutschland in April 2022. For further details see note 4.2. 10.2. Transactions with investments accounted for using the equity method The following transactions occurred with investments accounted for using the equity method: Sales of goods and services to: Associates Joint ventures Purchase of goods and services from: Associates Joint ventures 2022 € m 33 31 64 26 10 36 2021 € m 50 49 99 34 13 47

175

Notes to the consolidated financial statements 175 Trade accounts receivable from: Associates Joint ventures Trade accounts payable to: Associates Joint ventures Off-balance sheet commitments against: Associates Joint ventures Off-balance sheet commitments from: Associates Joint ventures 2022 € m 10 8 18 8 – 8 9 – 9 – 4 4 2021 € m 11 13 24 8 – 8 10 – 10 – 14 14 In addition to the capital contributions in Salto during the reporting period (see note 6.5.1), RTL Group made further capital contributions to joint ventures amounting to € 2 million and to its investments in associates amounting to € 4 million. 10.3. Transactions with key management personnel In addition to their salaries, the Group also provides non-cash benefits to key management personnel and contributes to a post-employment defined benefit plan on its behalf. The key management personnel compensation is as follows and includes benefits for the period for which the individuals held the Executive Committee position: Short-term benefits Post-employment benefits Long-term benefits 2022 € m 6.3 – 1.5 7.8 2021 € m 6.9 – 1.7 8.6 Further details on the remuneration of key management personnel can be found in the remuneration report. 10.4. Directors’ fees In 2022, a total of € 1.3 million (2021: € 1.4 million) was allocated in the form of attendance fees to the non-executive members of the Board of Directors of RTL Group SA and the committees that emanate from it, with respect to their functions within RTL Group SA and other Group companies.

176

176 RTL Group Annual Report 2022 11. Subsequent events In January 2023, Global Savings Group (GSG), an at equity investment held by Groupe M6, completed the acquisition of pepper.com. This transaction resulted in a dilution of Groupe M6's investment in GSG from 41.49 per cent at 31 December 2022 to 31.16 per cent. The preliminary impact on profit or loss in 2023 is currently under estimation and will be recognised under ‘Gain/(loss) from sale of subsidiaries, other investments and re-measurement to fair value of pre-existing interest in acquiree’ of the consolidated income statement for the year 2023. In February 2023, RTL Deutschland announced a reorganisation of its publishing business to focus on its core brands Stern, Geo, Capital, Stern Crime, Brigitte, Gala, Schöner Wohnen, Häuser, Couch, Eltern, Chefkoch, Geolino and Geolino Mini. Other brands will be sold or discontinued. During the reorganisation, costs will be reduced in all areas – especially in corporate functions, corporate IT, office space, publishing and editorial teams. Around 500 jobs will be reduced in Hamburg, while an additional 200 jobs will be transferred to new owners through the planned sale of titles. RTL Deutschland will invest €80 million in its publishing business by 2025, thereof €30 million in the expansion of the paid offer Stern+ with complementary content from Stern, Geo, Capital and Stern Crime. The potential synergies of the transaction (Adjusted EBITA run-rate impact) are estimated at around €75 million per year, to be fully realised by 2025. At the time the consolidated financial statements were authorised for issue, the management has prepared its negotiations with relevant stakeholders – mainly employee representatives – and expects the costs associated with the reorganisation to be in the high double-digit millions. In February 2023, RTL Group GmbH and Bertelsmann SE & Co. KGaA entered into a shareholder loan agreement pursuant to which Bertelsmann makes available a revolving and swing line facility in the amount of up to €600 million. The main terms of this facility are: – The interest rates for loans under the revolving and swingline facility are EURIBOR (floored at zero per cent) plus a margin of 0.40 per cent per annum, and ESTR (floored at zero per cent) plus a margin of 0.40 per cent per year, respectively. Additional utilisation fees of 0.075/0.15/0.30 per cent per year are computed for the utilisation of each subsequent tranche of € 200 million, with an upfront fee of 0.25 per cent and a commitment fee of 14 basis points calculated and payable on the undrawn amount of the total credit facility. In March 2023, RTL Group GmbH and Bertelsmann Business Support Sàrl entered into a shareholder loan agreement pursuant to which Bertelsmann makes available two term loan facilities in the amount of € 500 million The main terms of these facilities are: – Term loan facility of € 200 million until 9 March 2026 bearing a fixed interest rate of 3.60 per cent per annum – Term loan facility of € 300 million until 7 March 2028 bearing a fixed interest rate of 3.57 per cent per annum – RTL Group GmbH has the right to early repay the loans subject to break costs. In March 2023, an amendment to the pledge agreement was signed between RTL Group SA, RTL Group GmbH, CLT-UFA SA, Bertelsmann SE & Co KGaA, Reinhard Mohn GmbH and Bertelsmann Business Support Sàrl granting RTL Group the pledge on all current repayment claims of Bertelsmann Business Support Sàrl against RTL Group GmbH under the new Term Loan Facilities of € 500 million.

177

Notes to the consolidated financial statements 12. Group undertakings 177 The following table presents the RTL Group undertakings as at 31 December 2022 sorted by country. RTL Group SA is the parent company and incorporated in Luxembourg. Group’s ownership49 (in per cent) Con soli dation method50 Group’s ownership49 (in per cent) Con soli dation method50 Antigua and Barbuda France Grundy International Operations Ltd 100.0 FC 123 Productions SAS Argentina Academee SAS BCE France SAS Fremantle Productions Argentina S.A. 99.7 FC Bedrock SAS Australia Eureka Productions Pty Ltd FremantleMedia Australia Holdings Pty Ltd FremantleMedia Australia Pty Ltd Grundy Organization Pty Ltd Helium Five Pty Ltd Helium Four Pty Ltd Helium One Pty Ltd Helium Seven Pty Ltd Helium Six Pty Ltd Helium Three Pty Ltd Helium Two Pty Ltd Huzzah Productions Pty Ltd Regal Chandos Pty Ltd Royal Atchison Pty Ltd Austria Eat the World GmbH G+J Holding GmbH IP Österreich GmbH RTL Austria GmbH Belgium Freecaster BVBA FremantleMedia Belgium NV Brazil FremantleMedia Brazil Producao de Televisao Ltda. Canada FremantleMedia Canada No 2 Inc. China Fremantle (Shanghai) Culture Media Co. Ltd. Fremantle Productions Asia Ltd. Denmark Blu A/S Miso Film ApS Miso Holdings ApS Strong Production A/S Finland FremantleMedia Finland Oy Grillifilms Oy Moskito Television Oy Nice Entertainment Group Oy C. Productions SA Canal Star SARL CTZAR SAS CTZAR STUDIO SAS EDI TV SAS Extension TV SAS FM Graffiti SARL Freecaster France SAS FremantleMedia France SAS GM6 SAS Immobiliere 46D SAS Immobiliere M6 SAS Jeunesse TV SAS Kwai SAS M6 Communication SAS M6 Creations SAS M6 Developpement SAS M6 Diffusion SA M6 Digital Services SAS M6 Distribution Digital SAS M6 Editions SA M6 Evenements SA M6 Films SA M6 Foot SAS M6 Generation SAS M6 Interactions SAS M6 Invest 2 SAS M6 Plateforme SA M6 Publicite SAS M6 Shop SAS M6 Studio SAS M6 Thematique SAS Malesherbes SAS Media Strategie SARL Metropole Television SA Miliboo SA Panora Services SAS Paris Premiere SAS Quicksign SAS Radio Golfe SARL Radio Porte Sud SARL Realytics SAS RTL AdConnect SA RTL France Holding SAS RTL France Radio SAS Salto Gestion SAS Salto SNC SCI du 107 FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC 99.7 99.7 99.7 99.7 99.7 99.7 99.7 99.7 99.7 99.7 99.7 99.7 99.7 99.7 99.7 99.7 49.9 99.7 99.7 99.7 99.7 99.7 99.7 100.0 99.7 99.7 99.7 99.7 99.7 79.8 99.7 99.7 99.7 24.2 99.7 74.0 48.4 48.4 24.7 24.7 48.4 24.2 48.4 99.7 99.7 48.4 48.4 48.4 48.4 99.7 48.4 48.4 48.4 48.4 48.4 48.4 48.4 48.4 48.4 48.4 48.4 48.4 48.4 48.4 48.4 48.4 48.4 48.4 48.4 48.4 48.4 10.4 24.2 48.4 11.6 48.4 48.4 99.7 99.7 99.7 48.4 16.1 16.1 48.4 FC EM (JV) FC FC FC FC FC FC FC EM (JV) FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC EM (A) EM (JV) FC EM (A) FC FC FC FC FC FC EM (JV) EM (JV) FC 49 The Group’s ownership is based on the total number of shares as at 31 December 2022 50 FC: full consolidation, EM (JV): joint venture accounted for using the equity method, EM (A): associate accounted for using the equity method

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178 RTL Group Annual Report 2022 Group’s ownership51 (in per cent) Con soli dation method52 Group’s ownership51 (in per cent) Con soli dation method52 SEDI TV SAS SNDA SAS Societe Communication A2B SARL Societe de Developpement de Radio Diffusion SA Societe d’Exploitation Radio Chic SA Societe Nouvelle de Distribution SA Societe Privee de Radiodiffusion Gibus Bourgogne SARL Stephane Plaza France SAS Studio 89 Productions SAS We Are Era SAS Wild Buzz Agency SAS Germany 11 Freunde Verlag GmbH & Co KG 99pro Media GmbH Ad Alliance GmbH Antenne Niedersachsen GmbH & Co. KG AVE Gesellschaft für Hörfunkbeteiligungen mbH AVE II Vermögensverwaltungsgesellschaft mbH & Co. KG BCS Broadcast Sachsen GmbH & Co. KG Blueberry Food Studios GmbH Checkout Charlie GmbH Chefkoch GmbH CLT-UFA Germany GmbH Deutsche Medien-Manufaktur GmbH & Co. KG d-force GmbH Digital Media Hub GmbH DMV DER MEDIENVERTRIEB GmbH & Co. KG DPV Deutscher Pressevertrieb GmbH Eat the World GmbH FremantleMedia International Germany GmbH Funkhaus Halle GmbH & Co. KG G+J Electronic Media Sales GmbH G+J LIVING Digital GmbH G+J Medien GmbH Global Savings Group GmbH Gruner + Jahr Deutschland GmbH Henri-Nannen-Schule Gruner + Jahr/ DIE ZEIT GmbH HITRADIO RTL Sachsen GmbH Like to KNOW GmbH Madsack Hörfunk GmbH Mediengesellschaft Mittelstand Niedersachsen GmbH MSP Medien-Service und Promotion GmbH nachrichtenmanufaktur GmbH Neue Spreeradio Hörfunkgesellschaft mbH ntv Nachrichtenfernsehen GmbH PVB Presse Vertrieb GmbH & Co. KG Radio Hamburg GmbH & Co. KG Radio NRW GmbH Radio21 GmbH & Co. KG RTL 2 Fernsehen Geschäftsführungs GmbH RTL 2 Fernsehen GmbH & Co. KG 53 53 48.4 48.4 48.2 48.4 48.4 48.4 48.4 24.7 48.4 99.7 23.7 50.9 99.7 99.7 55.8 99.7 99.7 47.5 99.7 99.7 99.7 99.7 49.9 49.9 99.7 48.9 99.7 99.7 99.7 61.2 99.7 99.7 99.7 20.1 99.7 94.7 86.3 99.7 99.7 23.1 99.7 99.7 99.7 99.7 58.3 29.1 21.4 21.0 35.8 35.4 FC FC FC FC FC FC FC FC FC FC RTL AdConnect GmbH RTL Advertising GmbH RTL Audio Center Berlin GmbH RTL Audio Vermarktung GmbH RTL Deutschland GmbH RTL Group Financial Services GmbH RTL Group GmbH RTL Group Markenverwaltungs GmbH RTL Group Services GmbH RTL Group Vermögensverwaltung GmbH RTL Hessen GmbH EM (A) RTL Hessen Programmfenster GmbH RTL interactive GmbH RTL International GmbH RTL Journalistenschule GmbH RTL MUSIC PUBLISHING GmbH RTL NEWS GmbH RTL Nord GmbH RTL Radio Berlin GmbH RTL Radio Deutschland GmbH RTL Radio Luxemburg GmbH RTL STUDIOS GmbH RTL Technology GmbH RTL Television GmbH RTL WEST GmbH Screenworks Köln GmbH Sellwell GmbH & Co. KG Skyline Medien GmbH smartclip Deutschland GmbH smartclip Europe GmbH SQL Service GmbH SUPER RTL Fernsehen GmbH UFA Distribution GmbH UFA Documentary GmbH UFA Fiction GmbH UFA Fiction Productions GmbH UFA Film und Fernseh GmbH UFA GmbH Ufa Radio-Programmgesellschaft in Bayern mbH FC FC FC FC FC FC EM (A) FC FC FC FC FC EM (JV) FC EM (A) FC FC FC FC FC FC FC EM (A) UFA Serial Drama GmbH FC FC FC FC FC EM (A) FC FC FC FC EM (A) EM (A) EM (A) EM (A) EM (A) EM (A) UFA Show & Factual GmbH VOX Holding GmbH VOX Television GmbH VSG Schwerin - Verlagsservicegesellschaft mbH We Are Era GmbH Greece Fremantle Productions SA Hungary Magyar RTL Televizio Zrt. R-Time Kft. RTL Services Kft. UFA Magyarorszag Kft. UFA Projekt 2022 Kft. 51 The Group’s ownership is based on the total number of shares as at 31 December 2022 52 FC: full consolidation, EM (JV): joint venture accounted for using the equity method, EM (A): associate accounted for using the equity method 53 At 31 December 2022, the Group's share legally held in Madsack Hörfunk GmbH and Medien- gesellschaft Mittelstand Niedersachsen GmbH is 24.8 % and 5.7 % respectively. The Group’s ownership disclosed for both entities takes into account an option agreement in accordance with IAS 32 99.7 99.7 99.7 99.7 99.7 99.7 99.7 99.7 99.7 99.7 99.7 59.8 99.7 99.7 89.8 99.7 99.7 99.7 99.7 99.7 99.7 99.7 99.7 99.7 74.8 49.8 99.7 49.7 99.7 99.7 49.9 99.7 99.7 99.7 99.7 99.7 99.7 99.7 99.7 99.7 99.7 99.7 99.4 99.7 99.7 99.7 99.7 99.7 99.7 99.7 99.7 FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC EM (A) FC EM (JV) FC FC EM (A) FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC

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Notes to the consolidated financial statements 179 Group’s ownership54 (in per cent) Con soli dation method55 Group’s ownership54 (in per cent) Con soli dation method55 56 56 56 56 56 56 India Fremantle India Television Productions Pvt Ltd 99.7 FC Fremantle Productions B.V. Indonesia PT Dunia Visitama Produksi IDN/PMA Ireland Element Pictures (CWF) Limited Element Pictures Limited Element Pictures Television Limited Sorrento TV Sales Limited Isle of Man Element Pictures GHC Israel Abot Hameiri Communication Ltd. Italy Boats S.r.l. Film Factory S.r.l. FremantleMedia Italia S.p.A. FremantleMedia Italy Group S.r.l. Lux Vide F.I.A.T. S.p.A. Offside S.r.l. RTL AdConnect S.r.l. Smartclip S.r.l. The Apartment S.r.l. we are era S.r.l. Wildside S.r.l. Luxembourg Broadcasting Center Europe International S.A. Broadcasting Center Europe S.A. CLT-UFA S.A. Data Center Europe S.a r.L. European News Exchange S.A. Heliovos S.A. IP Luxembourg S.a r.l. Luxradio S.a r.L. Media Properties S.a r.l. Media Real Estate S.A. RTL AdConnect International S.A. RTL Group Holding S.a. r.l. RTL Media Support S.A. RTL Nederland Media Services S.A. RTL Nederland Media Services S.A. & Cie S.C.S. Mexico FremantleMedia Mexico, S.A. de C.V. The Netherlands Ad Alliance B.V. Benelux Film Investments B.V. E-Health & Safety skills B.V. Fiction Valley B.V. Format Creation Group B.V. 56 56 FremantleMedia Netherlands B.V. FremantleMedia Overseas Holdings B.V. Grundy International Holdings (I) B.V. Grundy/Endemol Productions VOF HelloSparkle B.V. NLZiet Coöperatief U.A. RTL AdConnect B.V. RTL Group Beheer B.V. RTL Nederland B.V. RTL Nederland Holding B.V. RTL Nederland Ventures B.V. RTL Nieuws B.V. smartclip Benelux B.V. Videoland B.V. we are era B.V. Norway FremantleMedia Norge AS Miso Film Norge AS Monster AS One Big Happy Family AS Playroom Events AS Strix Televisjon AS This is Nice Studios Norway AS Poland FremantleMedia Polska Sp. z o.o. Portugal FremantleMedia Portugal SA Russia OOO LTI Vostok Singapore FremantleMedia Asia Pte. Ltd. Spain Atresmedia Corporacion de Medios de Comunicacion, S.A. FremantleMedia Espana, S.A. we are era, S.L.U. Sweden Baluba AB FremantleMedia Sverige AB Miso Film Sverige AB smartclip Nordics AB Strix Television AB This is Nice Studios Holding AB This is Nice Studios Sweden AB we are era AB Switzerland Goldbach Audience (Switzerland) AG Goldbach Media (Switzerland) AG Swiss Radioworld AG FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC EM (A) FC FC FC FC FC FC FC FC FC FC FC EM (JV) EM (A) FC FC 99.7 50.9 50.9 50.9 50.9 50.9 99.7 99.7 69.8 99.7 99.7 69.8 99.7 99.7 99.7 99.7 99.7 99.7 99.7 99.7 99.7 99.7 64.5 48.9 99.7 99.7 99.7 99.7 99.7 99.7 99.7 99.7 99.7 99.7 99.7 49.9 48.9 99.7 99.7 99.7 99.7 99.7 99.7 49.9 24.9 33.2 99.7 99.7 99.7 99.7 99.7 99.7 99.7 99.7 99.7 99.7 99.7 99.7 99.7 99.7 99.7 99.7 99.7 99.7 48.4 99.7 18.7 99.7 99.7 99.7 99.7 99.7 99.7 99.7 99.7 99.7 99.7 24.9 22.9 22.9 FC FC FC FC EM (JV) EM (A) EM (JV) FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC EM (A) FC FC FC FC FC FC FC FC FC FC EM (A) EM (A) EM (A) 54 The Group’s ownership is based on the total number of shares after deduction of treasury shares held by the company as at 31 December 2021 55 FC: full consolidation, EM (JV): joint venture accounted for using the equity method, EM (A): associate accounted for using the equity method 56 Company has elected to make use of the exemption to publish annual accounts in accordance with Section 403(1b) of the Dutch Civil Code

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180 RTL Group Annual Report 2022 Group’s ownership57 (in per cent) Con soli dation method58 Group’s ownership57 (in per cent) Con soli dation method58 United Kingdom 72 Films Limited America Films Limited Arbie Productions Ltd Baxter Film Productions Limited Blue Star Films Limited CLT-UFA UK Radio Cockerel Films Limited Conversations Productions Limited Dancing Ledge Productions Limited DDE Films Limited DLP (Big Mood) Ltd DLP (Crossfire) Ltd DLP (Domino Day) Ltd DLP (Platform 7) Limited DLP (The Responder) Ltd DLP (Wedding Season) Ltd Dublin Murders Productions Limited Element Pictures (GP) Limited Element Pictures GVS Limited Element Pictures PT Limited Element Pictures RMF Limited Element Pictures UK Holdings Limited Element Pictures UK Holdings Two Limited Element Pictures UK Limited Eternal Daughter Productions Limited Euston Films Productions Limited Fremantle Nordic Holdings Limited Fremantle Periodic (Holdings) Limited FremantleMedia Group Limited FremantleMedia Limited FremantleMedia Overseas Limited House Element Wonder Limited Label1 Television Limited LBJ Films Limited LD Film Productions Limited Marlborough Film Productions Limited Matriarch Films Limited Naked Television Limited OBG Film Productions Limited Orangutan Films Limited Raven Facilities Limited RTL AdConnect UK Ltd RTL Group Support Services Limited Sentient Productions Limited 57 The Group’s ownership is based on the total number of shares after deduction of treasury shares held by the company as at 31 December 2021 58 FC: full consolidation, EM (JV): joint venture accounted for using the equity method, EM (A): associate accounted for using the equity method Slade Films Limited Syracuse Films Limited Talkback Productions Limited TalkbackThames UK Limited Thames Television Limited Tigerstripe Films Limited True Life Films Limited UFA Fiction Limited Underdogs Films Limited Wildshot Games Limited Wildspark Films Limited WildStar Films Limited Yospace Enterprises Limited Yospace Technologies Limited 54.8 50.9 99.7 50.9 60.8 99.7 54.8 50.9 60.8 54.8 60.8 60.8 60.8 60.8 60.8 60.8 87.5 50.9 50.9 50.9 50.9 50.9 50.9 50.9 50.9 99.7 99.7 99.7 99.7 99.7 99.7 25.4 50.9 54.8 50.9 50.9 50.9 99.7 50.9 50.9 54.8 99.7 99.7 50.9 54.8 54.8 99.7 99.7 99.7 50.9 50.9 99.7 50.9 50.9 50.9 50.9 99.7 99.7 United States 3 Doors Productions, Inc. American Idol Productions, Inc. Amygdala Records, Inc. Big Break Productions, Inc. Blue Orbit Productions, Inc. Crown Broadway Productions LLC Crown Cloverfield Productions LLC Crown Noah Productions LLC Crown Venice Productions LLC Crown Wilshire Productions LLC Eureka Productions LLC Fabel Entertainment LLC FCB Productions, Inc. Fellow Travelers Productions, Inc. Fremantle Productions North America, Inc. Fremantle Productions, Inc. FremantleMedia Latin America, Inc. FremantleMedia North America, Inc. Good Games Live, Inc. Haskell Studio Rentals, Inc. Inception XR, Inc. Kickoff Productions, Inc. L&S USA LLC Let’s Play, Inc. Little Pond Television, Inc. Mad Sweeney Productions, Inc. Marathon Productions, Inc. Max Post, Inc. Music Box Library, Inc. OP Services, Inc. Original Productions, Inc. FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC EM (JV) P & P Productions, Inc. Prime Media Rentals LLC RTL US Holding, Inc. SND Films LLC Studio Production Services, Inc. TCF Productions, Inc. Terrapin Productions, Inc. The Price Is Right Productions, Inc. Tick Tock Productions, Inc. Tiny Riot, Inc. Triple Threat Productions, Inc. Wanderlust Productions, Inc. YoSpace, Inc. FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC 99.7 99.7 99.7 99.7 99.7 99.7 99.7 99.7 99.7 99.7 99.7 24.9 99.7 99.7 99.7 99.7 99.7 99.7 99.7 99.7 22.4 99.7 69.8 94.7 99.7 99.7 99.7 99.7 99.7 99.7 99.7 99.7 99.7 99.7 48.4 99.7 99.7 99.7 99.7 99.7 99.7 99.7 99.7 99.7 FC FC FC FC FC FC FC FC FC FC FC EM (A) FC FC FC FC FC FC FC FC EM (A) FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC

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KPMG Audit S.à r.l. 39, Avenue John F. Kennedy L-1855 Luxembourg Tel.: +352 22 51 51 1 Fax: +352 22 51 71 E-mail: info@kpmg.lu Internet: www.kpmg.lu To the Shareholders of RTL Group S.A. 43, boulevard Pierre Frieden L-1543 Luxembourg REPORT OF THE REVISEUR D’ENTREPRISES AGREE Report on the audit of the consolidated financial statements Opinion We have audited the consolidated financial statements of RTL Group S.A. and its subsidiaries (the "Group"), which comprise the consolidated statement of financial position as at 31 December 2022, and the consolidated income statement, the consolidated statement of comprehensive income, the consolidate statement of changes in equity and the consolidated cash flows statement for the year then ended, and notes to the consolidated financial statements, including a summary of significant accounting policies. In our opinion, the accompanying consolidated financial statements give a true and fair view of the consolidated financial position of the Group as at 31 December 2022 and of its consolidated financial performance and its consolidated cash flows for the year then ended in accordance with International Financial Reporting Standards (IFRSs) as adopted by the European Union. Basis for opinion We conducted our audit in accordance with the EU Regulation N° 537/2014, the Law of 23 July 2016 on the audit profession (“Law of 23 July 2016”) and with International Standards on Auditing (“ISAs”) as adopted for Luxembourg by the Commission de Surveillance du Secteur Financier (“CSSF”). Our responsibilities under the EU Regulation N° 537/2014, the Law of 23 July 2016 and ISAs as adopted for Luxembourg by the CSSF are further described in the « Responsibilities of “réviseur d'entreprises agréé” for the audit of the consolidated financial statements » section of our report. We are also independent of the Group in accordance with the International Code of Ethics for Professional Accountants, including International Independence Standards, issued by the International Ethics Standards Board for Accountants (“IESBA Code”) as adopted for Luxembourg by the CSSF together with the ethical requirements that are relevant to our audit of the consolidated financial statements, and have fulfilled our other ethical responsibilities under those ethical requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Key audit matters Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the consolidated financial statements of the current period. These matters were addressed in the context of the audit of the consolidated financial statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters. © 2023 KPMG Audit S.à r.l., a Luxembourg entity and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. R.C.S Luxembourg B 149133

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Impairment of goodwill a) Why the matter was considered to be one of most significant in our audit of the consolidated financial statements of the current period Refer to Note 1.7.2, Note 2.5 and Note 6.2 to the consolidated financial statements. Goodwill represents EUR 3,327 million or approximately 33% of the Group’s total assets as at 31 December 2022. Management performs an annual impairment test of the Cash Generating Units (CGUs) to which the goodwill is allocated to assess whether the recoverable amount is at least equal to its carrying value. The recoverable amount can be determined through different valuation techniques; the most common used by Management being the fair value less cost of disposal’s Discounted Cash Flow (DCF) models. This matter and the related disclosures were of particular significance to our audit as Management’s determination of cash flow forecasts, discount rates and growth rates used in the calculation of the recoverable amount by using DCF models involves significant judgement and estimates. b) How the matter was addressed during the audit Our procedures over the impairment of goodwill include, but are not limited to: ▪ Gaining an understanding of the process of preparation of the goodwill impairment test by performing a walkthrough of the process and testing design and implementation of the key controls; ▪ ▪ ▪ ▪ ▪ ▪ Assessing the appropriateness of the identification of the cash generating units and allocation of goodwill and cash flows to those CGUs done by the Management; Assessing the valuation models applied by Management; Assessing key assumptions used by Management in the impairment tests by reference to the budgets approved by the Board of Directors, data external to the Group, our understanding of the economic environment as well as to the historical data and performance; Involving our own valuation specialists to test the reasonableness of discount rates applied by Management; Assessing the sensitivity analysis of the recoverable amount to the discount rate, profitability measure and terminal growth rate for the most sensitive CGUs; Considering the adequacy and appropriateness of the disclosures provided on goodwill impairment pursuant to the relevant accounting and financial reporting standards. Valuation of investment in associates – Atresmedia a) Why the matter was considered to be one of most significant in our audit of the consolidated financial statements of the current period Refer to Note 1.3.2, Note 2.5 and Note 6.5.2 to the consolidated financial statements.

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The investment in associate - Atresmedia, listed on the Madrid stock exchange, has a carrying value of EUR 184 million as at 31 December 2022. The implied value of Atresmedia shares (defined as being the carrying value of Atresmedia in the consolidated financial statements divided by the number of shares held in Atresmedia) exceeds the quoted market price available as at 31 December 2022. No impairment loss was recorded during the current or prior financial year (2020: EUR 60 million). Management performed an impairment test of its investment in Atresmedia to assess whether its recoverable amount is at least equal to its carrying value. The recoverable amount was determined on the basis of the value in use derived from a Discounted Cash Flow (DCF) model. This matter and the related disclosures were of particular significance to our audit as Management’s determination of cash flow forecasts, discount rates and growth rates used in the calculation of the recoverable amount involves significant judgement and estimates. b) How the matter was addressed during the audit Our procedures over the valuation of investment in the associate Atresmedia include, but are not limited to: ▪ Gaining an understanding of the process of preparation of the impairment test by performing a walkthrough of the process and testing design and implementation of the key controls; ▪ ▪ ▪ ▪ ▪ Assessing the valuation models applied by Management; Assessing key assumptions used by Management in the impairment tests by reference to the budgets, data external to the Group, our understanding of the economic environment as well as to the historical data and performance; Involving our own valuation specialists to test the reasonableness of the discount rate applied by Management; Assessing the sensitivity analysis of the recoverable amount to the discount rate, profitability measure and terminal growth rate; Considering the adequacy and appropriateness of the disclosures provided on Atresmedia impairment test pursuant to the relevant accounting and financial reporting standards. Impairment of programme rights and provisions for onerous contracts a) Why the matter was considered to be one of most significant in our audit of the consolidated financial statements of the current period Refer to Notes 1.7.1, 1.11, 1.19, 2.4, 6.1, 6.8 and 6.14 to the consolidated financial statements. Non-current programme and other rights and current programme rights amounting to EUR 73 million and EUR 1,579 million as of 31 December 2022 respectively, include (co-) productions, audio-visual and other rights acquired with the primary intention to broadcast, distribute or trade as part of the Group's operations. These programme rights are tested for impairment by Management if there are indicators that these assets may be impaired. Such impairment test for programme rights requires a high level of judgement, in particular in relation with estimates of revenue, the future programme grid, the realised and expected audience of the programme, the discount rate used and the current programme rights that are not likely to be broadcast.

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Valuation of programme rights also encompasses rights that the Group has committed to purchase in periods subsequent to 31 December 2022. Provisions for onerous contracts are recognised when Management expects, at the closing date, a lower than initially budgeted return on these rights. As of 31 December 2022, provisions for onerous contracts amount to EUR 72 million and are mainly related to the supply of programmes rights. These matters were significant to our audit since the determination of the level of impairment or provision requires significant judgment and estimates. b) How the matter was addressed during the audit Our procedures over impairment of programme rights and provision for onerous contracts include but are not limited to: ▪ Gaining an understanding of the process to estimate the cash flows generated by the use of programme rights and the need for programme rights impairment or provision for onerous contracts, including testing design and implementation of the key controls; ▪ ▪ ▪ ▪ Analysing, when relevant, the estimation of cash flows generated by the use of programme rights (including rights that the Group has committed to purchase in subsequent periods) based on the future programme grid and expected audience; Assessing the reliability of Management's estimates by comparing last year broadcasting forecasts with the current year programme grid; Testing Management's calculation of impairments and provisions when the estimated future revenues are not expected to exceed the carrying value of programme rights or purchase commitment; Assessing the appropriateness of the Group's disclosures regarding impairment of programme rights and provisions for onerous contracts. Revenue recognition a) Why the matter was considered to be one of most significant in our audit of the consolidated financial statements of the current period Refer to accounting policy Note 1.22 and Note 5.1 of the consolidated financial statements. Revenue of the Group amounts to EUR 7,224 million for the year ended 31 December 2022 compared to EUR 6,637 million in previous year. Revenue relates to advertising, the production, distribution and licensing of films, programmes and other rights, the rendering of services and the sales of merchandise. Revenue is recognised in accordance with the various revenue recognition principles that apply to the specific revenue streams. There is an elevated risk linked to timing of revenue recognition around year end for revenue recognised over time. The continuously evolving online media revenue stream also results in new and more complex revenue recognition due to the trend towards new product offerings. b) How the matter was addressed during the audit Our procedures over the revenue recognition include, but are not limited to: ▪ Gaining an understanding of the various revenue processes by performing a walkthrough of the process and testing design and implementation of the key controls; ▪ Testing of the relevant internal controls used to ensure the completeness, existence, accuracy and timing of revenue recognised;

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▪ ▪ ▪ ▪ ▪ ▪ Involvement of our own Information Risk Management specialists to evaluate the key IT general controls of relevant IT systems; Assessing whether appropriate revenue recognition policies are applied by the Group by comparing them with relevant accounting standards; Performing analytical reviews on revenues recognised to identify any material new revenue streams; Performing test of details over revenue recognition, including but not limited to cash proofing, addition and release of deferred income, cut-off procedures; Testing of supporting evidence for manual journal entries posted to revenue accounts to identify any unusual items; Considering the appropriateness of the disclosures provided on revenue recognition pursuant to the relevant accounting and financial reporting standards. Other information The Board of Directors is responsible for the other information. The other information comprises the information stated in the Directors’ report and the Corporate Governance Statement but does not include the consolidated financial statements and our report of the “réviseur d'entreprises agréé” thereon. Our opinion on the consolidated financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. In connection with our audit of the consolidated financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the consolidated financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report this fact. We have nothing to report in this regard. Responsibilities of the Board of Directors and Those Charged with Governance for the consolidated financial statements The Board of Directors is responsible for the preparation and fair presentation of the consolidated financial statements in accordance with IFRSs as adopted by the European Union, and for such internal control as the Board of Directors determines is necessary to enable the preparation of consolidated financial statements that are free from material misstatement, whether due to fraud or error. The Board of Directors is responsible for presenting and marking up the consolidated financial statements in compliance with the requirements set out in the Delegated Regulation 2019/815 on European Single Electronic Format (“ESEF Regulation”). In preparing the consolidated financial statements, the Board of Directors is responsible for assessing the Group’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Group or to cease operations, or has no realistic alternative but to do so.

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Those charged with governance are responsible for overseeing the Group’s financial reporting process. Responsibilities of the réviseur d'entreprises agréé for the audit of the consolidated financial statements The objectives of our audit are to obtain reasonable assurance about whether the consolidated financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a report of the “réviseur d'entreprises agréé” that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with the EU Regulation N° 537/2014, the Law of 23 July 2016 and with ISAs as adopted for Luxembourg by the CSSF will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these consolidated financial statements. Our responsibility is to assess whether the consolidated financial statements have been prepared in all material respects with the requirements laid down in the ESEF Regulation. As part of an audit in accordance with the EU Regulation N° 537/2014, the Law of 23 July 2016 and with ISAs as adopted for Luxembourg by the CSSF, we exercise professional judgment and maintain professional skepticism throughout the audit. We also: — Identify and assess the risks of material misstatement of the consolidated financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. — Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Group’s internal control. — Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors. — Conclude on the appropriateness of the Board of Directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Group’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our report of the “réviseur d'entreprises agréé” to the related disclosures in the consolidated financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our report of the “réviseur d'entreprises agréé”. However, future events or conditions may cause the Group to cease to continue as a going concern.

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— Evaluate the overall presentation, structure and content of the consolidated financial statements, including the disclosures, and whether the consolidated financial statements represent the underlying transactions and events in a manner that achieves fair presentation. — Obtain sufficient appropriate audit evidence regarding the financial information of the entities and business activities within the Group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the Group audit. We remain solely responsible for our audit opinion. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, actions taken to eliminate threats or safeguards applied. From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the consolidated financial statements of the current period and are therefore the key audit matters. We describe these matters in our report unless law or regulation precludes public disclosure about the matter. Report on other legal and regulatory requirements We have been appointed as “réviseur d'entreprises agréé” of the Company by the General Meeting of the Shareholders on 27 April 2022 and the duration of our uninterrupted engagement, including previous renewals and reappointments, is three years. The Directors’ report is consistent with the consolidated financial statements and has been prepared in accordance with applicable legal requirements. The Corporate Governance Statement is included in the management report. The information required by Article 68ter paragraph (1) letters c) and d) of the law of 19 December 2002 on the commercial and companies register and on the accounting records and annual accounts of undertakings, as amended, is consistent with the consolidated financial statements and has been prepared in accordance with applicable legal requirements. We confirm that the audit opinion is consistent with the additional report to the audit committee or equivalent. We confirm that the prohibited non-audit services referred to in the EU Regulation N° 537/2014 were not provided and that we remained independent of the Group in conducting the audit. We have checked the compliance of the consolidated financial statements of the Group as at 31 December 2022 with relevant statutory requirements set out in the ESEF Regulation that are applicable to consolidated financial statements.

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For the Group it relates to: • Consolidated financial statements prepared in a valid xHTML format; • The XBRL markup of the consolidated financial statements using the core taxonomy and the common rules on markups specified in the ESEF Regulation. In our opinion, financial statements of RTL Group S.A. as at 31 December 2022, identified as RTLGroup_AFR_2022_EN.zip, have been prepared, in all material respects, in compliance with the requirements laid down in the ESEF Regulation. the consolidated Our audit report only refers to the consolidated financial statements of RTL Group S.A. as at 31 December 2022, identified as RTLGroup_AFR_2022_EN.zip, prepared and presented in accordance with the requirements laid down in the ESEF Regulation, which is the only authoritative version. Luxembourg, 15 March 2023 KPMG Audit S.à r.l. Cabinet de révision agréé Jean-Manuel Séris

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Glossary Glossary 189 Addressable TV Addressable TV (ATV) advertising aims to combine the advantages of traditional TV advertising such as high reach and brand safety with the targeting solutions of digital advertising. Advertisers can use new data-driven capabilities to target audience segments that are more likely to generate a specific business impact and ultimately measure that impact. Advertising market share The advertising market share of a media owner; in other words total sales volume expressed as a percentage of the sales volume of a given market (for example the TV advertising market in Germany). Advertising sales house An organisation that sells advertising on behalf of media owners. Sales houses include both in-house sales departments and independent businesses, which typically retain a percentage of sales revenues in exchange for their services. Advertising technology (also: ad tech) Technological tools to sell advertising in the digital environment, for example using automated processes, such as programmatic advertising, or exchanges and market places. Aggregator A business that collects and organises content from multiple sources. Audience fragmentation The division of audiences into small groups across an increasing number of media outlets. Audience fragmentation is characteristic of digitisation and the associated proliferation of channels and platforms, and can lead to a growth in services catering to specific interest groups. Audience share The percentage of a radio or television audience that tuned in to a particular channel or programme during a given period, out of the total radio or television audience in the same period.

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190 RTL Group Annual Report 2022 Brand-building platform A platform, or medium, which, through its reach and the range of its viewers or listeners, enables brand owners and advertisers to establish and improve the identity of their brands. Broadcasting licence A licence granting the licensee permission to broadcast in a given geographical area. Business-to-business market A market in which transactions are carried out between businesses – such as between a content producer and a broadcaster – as opposed to a business-to-consumer market, in which transactions are carried out directly between a business and the end consumer. Cable distribution A system of distributing television programmes to subscribers through coaxial cables or light pulses through fibre optic cables. Cable distribution as a means of distributing television signals is usually part of a free-TV broadcasting licence. Cable operator The company or individual responsible for the operation of a cable system that may offer cable television, telephony and/or internet access. Commercial broadcaster (free-to-air) Usually a privately owned business, active in television and/or radio broadcasting. Commercial free-to-air broadcasters are financed to a large extent by the sale of advertising. Commercial target group A standard established by industry players, defining the largest common denominator within the total population, relevant for advertisers’ demand and pricing. Commercial target groups can be defined by age, gender and other demographic factors. Compound Annual Growth Rate (CAGR) A measure of growth over multiple time periods. CAGR can be thought of as the growth rate that gets you from the value at one point in time to the value at another point in time, assuming that the investment has been compounding over the time period. Connected TV (CTV) A web-connected television device. Content production The creation of original content for television broadcast, either by the in-house production department of the broadcaster or an external production company. The production of television formats by a third-party production company takes place either on a commissioning basis (ordered by the broadcaster, who owns all rights on a buy-out basis) or as a licensing model (the producer owns the rights and grants limited licence to the broadcaster). Content rights Certain intellectual property rights, given to an originator of content to protect original works of authorship, or to an assignee, to distribute, sell, broadcast or otherwise exploit an audio-visual work. Content vertical A business or brand that aggregates content around a specific demographic or interest group. Cross-media offers Advertising products that cover more than one medium at the same time: for example, TV, print and online. Deficit funding model A funding model for content production, in which the broadcaster commissions a production company to produce a show, and pays a licence fee that does not fully cover the costs of production. The producer funds the deficit in costs in return for retaining certain content rights. Demand side platform (DSP) A computer-based platform that advertisers or media agencies use to automate media buying across multiple sources with unified targeting, data, optimisation and reporting. Digital video ad An ad that is displayed online, through a web browser or browser-equivalent based internet activity that involves streaming video. Distribution platform A system for disseminating media content such as audio and video, using infrastructure based on technologies such as cable, satellite, terrestrial broadcast, IPTV and the open internet.

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Glossary 191 Docu drama/docu soap/docu series A genre of television and radio programming that presents dramatised re-enactments of actual events in the style of a documentary. DRM Digital rights management (DRM) refers to technical measures which protect the copyright of digital content. DTT Digital terrestrial television (DTT) is a distribution system that broadcasts digital TV signals ‘over-the-air’ from a ground-based transmitter to a receiving antenna attached to a digital receiver. E-commerce The buying and selling of products or services over electronic systems such as the internet and other computer networks. Fast channel Free ad-supported streaming television (Fast) channels are digital linear channels which are available free of charge and without a subscription on the respective streaming service. Fast channels are supported by dynamically inserted ads. Format The overall concept, premise and branding of a copyrighted television programme. A format can be licensed by TV channels, so they can produce a version of the show tailored to their nationality and audience. Game show A radio or television programming genre in which contestants, television personalities and/or celebrities, play games that involve answering questions or solving specific tasks usually for money and/or prizes. HbbTV Hybrid broadcast broadband television (HbbTV) is an industry technology standard for combining broadcast TV services with services delivered via the internet on connected TVs and set-top boxes. The HbbTV standard has been the driver for addressable TV (ATV) advertising across Europe. The standard allows broadcasters a controlled solution for ATV in traditional broadcast platforms. From a technical point of view, this means broadcasters have complete control over the entire value chain – from content distribution to monetisation. HDTV High-definition television (HDTV) is both a type of television that provides better resolution than standard definition television, and a digital TV broadcasting format that enables the broadcast of pictures with more detail and quality than standard definition. Impression The number of times a user is shown a video or ad – in other words, the number of chances they have to see the ad. The user doesn’t need to interact with the video or ad for it to count as an impression. Impressions are commonly accepted as a billing standard for video ads running across all types of content. Ad campaigns are usually measured in terms of number of impressions. In-page advertising In-page advertising is a sub-segment of online display advertising, in which online advertisements are displayed in the form of banners and other graphical units, directly within a web page. In-stream advertising In-stream advertising is a sub-segment of online display advertising, in which audio-visual advertisements are shown within an online video stream, either before (pre-roll), during (mid-roll) or after (post-roll) the video content itself. IP creation/IP development Intellectual property (IP) refers to an exclusive right to an intangible good, such as work of arts, technical inventions, knowledge, or software. In RTL Group’s case, IP refers to an idea or concept for a new business product. IPTV Internet protocol television (IPTV) is the term used for television and/or video signals that are delivered to subscribers or viewers using internet protocol, the technology used to access the internet. Linear TV The provision or viewing of television programmes in a fixed time sequence according to a given schedule. Long-form video content A descriptive term for a type of video content that has a beginning, middle and end, and which typically lasts longer than ten minutes in total. If the content is ad supported, it typically contains breaks (mid-roll).

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192 RTL Group Annual Report 2022 Non-linear content Content that is provided and/or viewed on demand, outside of a linear broadcast schedule. Online advertising A form of advertising that uses the internet to deliver marketing messages to an audience of online users. Online display advertising A form of online advertising in which an advertiser’s message is shown on a web page in a variety of formats – both in-page (such as banner ads) and in-stream (such as pre-roll videos) – which use various techniques to enhance the visual appeal of the advertising, as opposed to online classified and search advertising. Original content Content that is produced specifically for a certain distribution platform (such as TV) and shown for the first time on that platform. OTT Over-the-top (OTT) is a term for the delivery of content or services over the open internet rather than via a managed network. Overlaying The superimposition of content (such as text, graphics, video) on a TV programme or advertisement shown on a TV screen. Pay-TV A commercial service that broadcasts or provides television programmes to viewers in exchange for a monthly charge or per-programme fee. Phasing effect Financial effects (positive or negative) on revenue or profit over a period longer than the reporting period, resulting from the time difference between the allocation of costs and return of investment. Playlist start The number of times a playlist – including video content and ads – is started. Prime time That part of a broadcaster’s programming schedule that attracts the most viewers and is therefore the most relevant in terms of advertising. The start and end time of prime time is typically determined by the medium (such as radio or television) and defined by the industry in each market, and can therefore vary from one country to another. Programme format See ‘‘format’’. Public broadcaster A publicly owned company, active in television and/or radio broadcast, whose primary mission is often public service related. Public broadcasters may receive funding from diverse sources including licence fees, individual contributions, public financing and advertising. Real time bidding (RTB) The means by which ad inventory is bought and sold on a per-impression basis, via programmatic instantaneous auction, similar to financial markets. Sales house See ‘‘advertising sales house’’. Second screen An electronic device such as a tablet or smartphone that is used simultaneously with television consumption. Second screen applications may allow audiences to access additional content and services related to the broadcast programme, or to interact with the content consumed through the primary screen. Short-form video A descriptive term for a type of video content that lacks a content arc, and which typically lasts less than ten minutes in total. Streaming Consumption of audio or video content directly from the internet to a TV, computer or mobile device.

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Glossary 193 Supply side platform (SSP) An advertising technology platform that represents inventory (for example through publishers), and its availability. An SSP allows many of the world’s larger web publishers to automate and optimise the selling of their online media space. VFX Visual effects (VFX) describe digital special effects in the film industry which are implemented in post-production to enhance the visual experience of moving images. Video view The number of times a video has been viewed. Technology vendors may use the metric ‘creative view’ to help track which technical version of an ad was played in a particular environment, but that metric is used for technological analysis and not for measuring user engagement. Often confused with impression. VOD/video-on-demand A service that enables viewers to watch video content when they choose to, outside of any linear schedule. – AVOD – advertising-funded VOD A typical example includes services from TV channels that allow free access to video content seven days after the broadcast, funded by advertising. – SVOD – subscription-funded VOD A VOD service that is financed by subscription fees. – TVOD – transaction-funded VOD A VOD service that is financed on single transactions per view or content item. SSDAI Server-side dynamic ad insertion is a technology which allows the replacement of existing commercials from a broadcast stream with more targeted, personalised advertising. SyCos RTL Group’s Synergy Committees (SyCos) are a network of roughly 90 stakeholders collaborating on key topics across RTL Group. In 2022, the SyCos were relaunched with a streamlined structure and a new organisational framework which is aligned with RTL Group’s strategic priorities. There are now four SyCos – Programme, Sales, Streaming and Tech & Data – each with a chairperson and a sponsor from the Operations Management Committee. Terrestrial broadcasting A system to disseminate audio-visual content in the form of radio waves over the air from a ground-based transmitter to a receiving antenna. Time-shifted viewing The viewing of programming recorded to a storage medium (such as personal video recorder), at a time more convenient to the viewer than the scheduled linear broadcast. TV household A household equipped with at least one TV set. Unique user A metric that seeks to count as individuals, visitors who visit a website more than once in a given period of time. Vertical network A business that aggregates multiple content publishers into themed content verticals for which it may offer centralised advertising sales services.

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194 RTL Group Annual Report 2022 Credits Cover 4–5 6–7 8–13 14–19 20–23 24–29 36 RTL Nederland/William Rutten, Fremantle, Pascalito/Philippe Quaisse/Pasco&Co/M6 RTL/Story House Pictures/Michael Schreitel, RTL/Pervin Inan-Serttas, Fremantle (2), RTL Nederland/Set Vexy Productions RTL/Stefan Menne, RTL Nederland/ Mark Engelen/Rob Jacobs, Fremantle (2) Bertelsmann/Sebastian Pfütze, Jan Voth (2) RTL/Markus Hertrich, RTL (6), We Are Era, RTL/Frank Hempel, RTL/Frank Rollitz/Schneider Press, Plimsoll Productions Heiko Prigge, Marina Weigl RTL Group Fremantle/Stefano C. Montesi, Pascalito/Philippe Quaisse/Pasco&Co/M6, RTL/Simon Stöckl, RTL/Guido Engels Holland's Got Talent from RTL Nederland, Planet Sex from Fremantle, Naked Television and Milkshake Productions as well as L’Amour est dans le pré (Farmer Wants a Wife) from Groupe M6. Imprint Publisher Editor and copywriters RTL Group S.A. Communications & Investor Relations 43, Boulevard Pierre Frieden L–1543 Luxembourg Luxembourg RTL Group Communications & Investor Relations Copy editing and proofreading Sarah Townsend Editorial Limited, Stonehouse, England Design, concept consulting Ringzwei, Hamburg Production Print Johannes Bauer in der Printarena, Hamburg Ringzwei, Hamburg Ahrweiler Offset e.K., Hamburg Visit rtl.com and follow us on: LinkedIn Twitter Instagram YouTube Facebook

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RTL Group Annual Report 2022 195 Five-year summary Revenue Proﬁt from operating activities Earnings before interest and taxes (“EBIT”) Proﬁt before tax Group proﬁt Attributable to: RTL Group shareholders Non-controlling interests Adjusted EBITA (€ million) Basic earnings per share (in €) Final dividend per share (in €) Interim dividend per share (in €) Dividends paid (€ million)59 Average number of full-time equivalent employees Net assets (€ million) Net (debt)/cash (€ million) 2022 € m 7,224 978 987 932 766 673 93 1,083 4.35 4.00 – 619 12,975 5,213 180 2021 € m 6,637 1,879 1,908 1,881 1,454 1,301 153 1,152 8.41 5.00 – 774 10,861 5,304 657 2020 € m 6,017 933 903 875 625 492 133 853 3.20 3.00 – 464 10,598 4,353 236 2019 € m 6,651 1,147 1,161 1,156 864 754 110 1,156 4.91 – – – 10,747 3,825 (384) 2018 € m 6,505 1,020 1,076 1,063 785 668 117 1,171 4.35 3.00 1.00 619 10,809 3,553 (470) 59 Dividends paid refers to the amounts paid for the respective ﬁnancial years. With the exception of interim dividends, all dividends were paid in May of the following year. The 2021 comparatives have been adjusted due to the ﬁnalisation of the purchase price allocation for Stéphane Plaza Immobilier