Consolidated Annual Accounts 2017

Atresmedia Corporación de Medios de Comunicación, S.A. 2017 FINANCIAL STATEMENTS 11 3.- Distribution of profit Distribution of 2017 profit proposed by the directors of the Company to be submitted for approval by shareholders at the General Meeting (in thousands of euros): 2017 Interim dividends paid in 2017 (EUR 0.22/share) 49,487 Maximum final paid (EUR 0.30/share) 67,720 To voluntary reserves 20,085 Total 137,292 The Company's Board of Directors, at the meeting held on 22 November 2017, resolved to distribute out of the Company's profit for 2017 a gross amount of twenty-two euro cents (EUR 0.22) for each of the shares entitled to receive this interim dividend, representing a total of EUR 49,487 thousand, recognised under “Equity - Interim dividend” in the balance sheet. The provisional accounting statement prepared in accordance with legal requirements evidencing the existence of sufficient liquidity for the distribution of the dividends is as follows: LIQUIDITY STATEMENT FOR THE PAYMENT OF THE 2017 INTERIM DIVIDEND Thousands of euros Liquidity at 31 October 2017 251,891 Projected cash until 31 October 2018 Operating activities from November 2017 to October 2018 125,312 Financing activities from November 2017 to October 2018 (110,007) Projected payment of 2017 interim dividend (49,487) Projected liquidity at 31 October 2018 217,709 4.- Accounting policies The principal accounting policies used by the Company in preparing its financial statements for 2017 and 2016, in accordance with the Spanish National Chart of Accounts, were as follows: 4.1 Intangible assets As a general rule, intangible assets are measured initially at cost of acquisition or production. After initial recognition, intangible assets are carried at cost less accumulated amortisation and any accumulated impairment. These assets are amortised over their useful lives. Licences and trademarks These accounts include the amounts relating to the licence and the trademark identified in the purchase price allocation process arising from the merger with Gestora de Inversiones Audiovisuales La Sexta, S.A. carried out in 2012. The trademark is amortised on a straight-line basis over its estimated useful life of 20 years. Since 1 January 2016, the licence, which in prior years was considered to have an indefinite useful life, has been amortised over 10 years in accordance with Royal Decree 602/2016, of