Consolidated Annual Accounts 2017

Translation of consolidated financial statements originally issued in Spanish and prepared in accordance with the regulatory financial reporting framework applicable to the Group in Spain (see Notes 2 and 29). In the event of discrepancy, the Spanish- language version prevails. 4 ATRESMEDIA CORPORACIÓN DE MEDIOS DE COMUNICACIÓN, S.A. AND SUBSIDIARIES CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER 2017 Thousands of euros Share capital Share premium Legal and bylaw reserves Treasury shares Retained earnings Interim dividend Other equity instruments Valuation adjustments Equity attributable to equity holders of the Parent Non- controlling interests Equity Balance at 31 December 2015 169,300 38,304 42,475 (8,666) 279,923 (40,490) 2,129 2,685 485,660 (78) 485,582 Total comprehensive income - - - - 129,152 - - 1,918 131,070 (39) 131,031 Treasury share transactions: Acquisition of treasury shares (Note 12.e) - - - (8,931) - - - - (8,931) - (8,931) Transactions with shareholders (Note 12.h) - - - 8,787 (6,658) - (2,129) - - - - Distribution of profit: 2015 interim dividend paid in 2015 - - - (40,490) 40,490 - - - - - - Dividend out of 2015 profit paid in 2016 - - - - (40,347) - - - (40,347) - (40,347) 2016 interim dividend paid in 2016 - - - - - (49,487) - - (49,487) - (49,487) Changes in the scope of consolidation and other: Shared-based payments (Note 26) - - - - - - 798 - 798 - 798 Other changes - - - - (1,087) - - - (1,087) - (1,087) Balance at 31 December 2016 169,300 38,304 42,475 (8,810) 320,493 (49,487) 798 4,603 517,676 (117) 517,559 Total comprehensive income - - - - 142,108 - - (5,159) 136,949 - 136,949 Distribution of profit: 2016 interim dividend paid in 2016 - - - - (49,487) 49,487 - - - - - 2016 final dividend paid in 2017 - - - - (56,235) - - - (56,235) - (56,235) 2017 interim dividend paid in 2017 - - - - - (49,487) - - (49,487) - (49,487) 2017 special dividend paid in 2017 - - - - (101,223) - - - (101,223) - (101,223) Changes in the scope of consolidation and other: Shared-based payments (Note 26) - - - - - - 1,500 - 1,500 - 1,500 Other changes - - - - (2,926) - - - (2,926) 97 (2,829) Balance at 31 December 2017 169,300 38,304 42,475 (8,810) 252,730 (49,487) 2,298 (556) 446,254 (20) 446. 234 The accompanying Notes 1 to 28 are an integral part of the consolidated statement of changes in equity for the year ended 31 December 2017.