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 63 d) Tax receivables and payables Tax receivables and payables at 31 December 2017 and 2016: Thousands of euros 2017 2016 NON-CURRENT ASSETS Deferred tax assets (Note 21.e) 17,513 17,143 Tax loss carryforwards 128,252 135,861 Unused tax credits and tax relief 121,728 119,427 267,493 272,431 CURRENT ASSETS Income tax refundable 7,288 5,167 Other tax receivables 15 13 VAT refundable 166 173 Other tax receivables 719 - 8,188 5,353 Total tax receivables 275,681 277,784 OTHER NON-CURRENT LIABILITIES Deferred tax liabilities (Note 21.e) 28,554 27,140 CURRENT LIABILITIES Income tax payable - 838 Tax withholdings payable 13,417 6,941 Social security payable 2,098 2,036 VAT payable 20,117 8,935 Other tax payables 1,141 - 36,773 18,751 Total tax payables 65,327 45,891 On the basis of the timing estimate of future profits made by the Parent’s directors for the offset and use of these tax items, only EUR 17,952 thousand were considered to be recoverable in the tax return for the coming year, EUR 1,678 thousand of which relate to deferred taxes, EUR 8,480 thousand to unused tax credits and tax relief and EUR 7,794 thousand to tax loss carryforwards. e) Deferred tax assets and liabilities recognised The difference between the tax charge allocated to the current year and to prior years and the tax charge already paid or payable for those years, recognised under deferred tax assets, arose as a result of temporary differences on the following items: CHANGES IN DEFERRED TAX ASSETS Thousands of euros 2016 Additions Disposals Other Inclusions in the scope of consolidation IFRS adjustments 2017 Contingencies and charges 13,020 1,152 2,131 365 797 - 13,203 Payables 927 375 563 - - - 739 Hedging instruments (1,593) 1,779 - 177 - - 363 Other 4,789 3,703 1,109 (479) 7 (3,703) 3,208 Total 17,143 7,008 3,803 62 804 (3,703) 17,513