Consolidated Annual Accounts 2017

Atresmedia Corporación de Medios de Comunicación, S.A. and Subsidiaries 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. 2017 CONSOLIDATED FINANCIAL STATEMENTS 58 Thousands of euros Television Radio Other businesses Adjustments and inter-segment eliminations Atresmedia consolidated RESULTS 2017 2016 2017 2016 2017 2016 2017 2016 2017 2016 Revenue 917,928 909,534 83,526 82,170 61,046 39,854 (10,422) (10,444) 1,052,078 1,021,114 Operating expenses (excluding amortisation and depreciation) 746,275 740,153 66,452 62,476 47,630 26,939 (10,422) (10,444) 849,935 819,124 GFROM PROFIT FROM OPERATIONS 171,653 169,381 17,074 19,694 13,416 12,915 - - 202,143 201,990 Amortisation and depreciation, impairment and gains/(losses) of disposal of non-current assets 15,130 15,603 2,019 1,757 502 191 - - 17,651 17,551 Gain on bargain purchases in business combinations - - - - - - - - - - PROFIT FROM OPERATIONS 156,523 153,778 15,055 17,937 12,914 12,724 - - 184,492 184,439 Net gain/(loss) on changes in value of financial instruments at fair value (13,877) (6,919) - - - - - - (13,877) (6,919) Exchange differences 16,829 7,905 - 1 (18) - - - 16,811 7,905 Financial profit/(loss) (3,525) (1,919) (2,072) (2,694) 690 1,009 - - (4,907) (3,604) Impairment and gains/(losses) on disposals of financial assets (4,781) (5,366) - - - - - - (4,781) (5,366) Share of the profit/(loss) of associates and joint ventures accounted for using the equity method 74 (4) - - (1,239) (1,734) - - (1,165) (1,738) PROFIT/(LOSS) BEFORE TAX 151,243 147,475 12,983 15,244 12,347 11,999 - - 176,573 174,718 Income tax expense (27,525) (37,843) (3,239) (3,823) (3,701) (3,939) - - (34,465) (45,605) PROFIT FOR THE YEAR 123,718 109,632 9,744 11,421 8,646 8,060 - - 142,108 129,113 Thousands of euros Television Radio Other businesses Adjustments and inter- segment eliminations Atresmedia consolidated BALANCE SHEET 2017 2016 2017 2016 2017 2016 2017 2016 2017 2016 Segment assets 1,060,479 1,057,734 198,149 199,103 120,821 77,436 (30,334) (24,635) 1,349,115 1,309,638 Investments accounted for using the equity method 195 122 - - 137 111 - - 332 233 Total segment assets 1,060,674 1,057,856 198,149 199,103 120,958 77,547 (30,334) (24,635) 1,349,447 1,309,871 Total segment liabilities 756,075 658,044 68,264 79,180 96,550 68,765 (17,676) (13,677) 903,213 792,312