Grupo Televisa, S.A.B. · BMV:TLEVISA/CPO

Grupo Televisa, S.A.B — Merger or Acquisition (December 2022)

12 slides from Grupo Televisa, S.A.B's merger presentation, Dec 13, 2022

  1. Slide 1: Combination of Televisa Cable & Megacable: Building a Leading Cable Provider in Mexico

    NOVEMBER 14, 2022 Combination of Televisa Cable & Megacable : Building a Leading Cable Provider in Mexico Strictly Confidential

  2. Slide 2: Combination with Clear Transaction Rationale and Significant Value Creation

    Strictly Confidential 2 Combination with Clear Transaction Rationale and Significant Value Creation Creating One of Mexico’s Leading Cable Providers • Creation of a pure - play cable company with a national footprint and a strong financial profile • Combined company well - positioned to compete effe

  3. Slide 3: Combined Company to Have Greater Scale and Stronger Free Cash Flow Generation

    Strictly Confidential Combined Company to Have Greater Scale and Stronger Free Cash Flow Generation Financial Metrics LTM Revenue $48 $26 $75 LTM EBITDA $20 $13 $35 % Margin 42% 48% 47% LTM EBITDA – Capex ( 2 ) $6 $2 $17 % Margin 13% 6% 23% Operational Metrics Homes Passed (millions) 19 11 29 Total

  4. Slide 4: Highly Compelling Strategic Rationale

    Strictly Confidential Highly Compelling Strategic Rationale National cable company with modern, complementary footprint and strong broadband, pay TV, and voice offerings Sizable combined network allowing for significant growth and enhanced competitiveness Attractive, publicly - listed Mexican cable

  5. Slide 5: Complementary Geographic Footprints Creating a National Cable Company

    Strictly Confidential Telmex 47% Televisa Cable 19% Megacable 13% Total Play 14% Other 7% Sky 37% Televisa Cable 22% Megacable 19% Total Play 12% Dish 6% Other 5% Telmex 41% Televisa Cable 23% Megacable 16% Total Play 14% Other 6% Telmex 32% Televisa Cable 21% Megacable 15% Total Play 13% Sky 10% Di

  6. Slide 6: Significant Scale with 27M Combined RGUs and 11M Combined Subscribers

    Strictly Confidential 3.3 5.1 8.3 11.0 3.6 4.4 8.0 6.6 4.0 5.9 9.9 10.1 4.3 6.6 10.9 6 Significant Scale with 27M Combined RGUs and 11M Combined Subscribers Sky Telmex Telmex Source: Public filings. Note: Combined RGU figure includes mobile RGUs. Subscriber and RGU figures reflect rounding. (1) Subs

  7. Slide 7: MergeCo Well-Positioned to Compete in a Competitive Market

    Strictly Confidential 14 10 6 16 11 11 16 9 12 19 11 17 $19 $11 $7 $20 $13 $15 $45 $22 $20 $48 $26 $34 (MXN $B) (millions) (MXN $B) Source: Public filings. Note: Peso, homes passed and RGU figures reflect rounding. MergeCo Well - Positioned to Compete in a Competitive Market LTM 3Q22 Revenue EBITDA

  8. Slide 8: Strong Pro Forma Financial Profile with Attractive Growth and Margins

    Strictly Confidential $35 2019A 2020A 2021A LTM 3Q22 $18 $19 $20 $20 $10 $11 $12 $13 $28 $30 $32 $33 2019A 2020A 2021A LTM 3Q22 $42 $45 $48 $48 $22 $22 $25 $26 $63 $68 $73 $75 2019A 2020A 2021A LTM 3Q22 44% 7% 45% 7% 4% 44% 14% 8 Strong Pro Forma Financial Profile with Attractive Growth and Margins

  9. Slide 9: Sizable Value Creation Opportunity from Optimization of Capex Deployment

    Strictly Confidential $17 2019A 2020A 2021A LTM 3Q22 $5 $5 $3 $6 $4 $3 $3 $2 $8 $8 $6 $8 2019A 2020A 2021A LTM 3Q22 $18 2019A 2020A 2021A LTM 3Q22 $13 $14 $17 $14 $7 $8 $9 $11 $20 $22 $27 $25 2019A 2020A 2021A LTM 3Q22 9 Sizable Value Creation Opportunity from Optimization of Capex Deployment ▪ By c

  10. Slide 10: Multiple Areas of Operating Expense Efficiencies

    Strictly Confidential 10 Multiple Areas of Operating Expense Efficiencies Note: Synergy figures are preliminary estimates per Televisa management, subject to further diligence and analysis. Peso values reflect rounding. (1) Assumes weighted average cost of capital of 11.5% - 12.5%, perpetuity growth

  11. Slide 11: Attractive Pro Forma Revenue Growth and EBITDA Margins vs. Select Cable Company Peers

    Strictly Confidential 51% 48% 44% 44% 42% 40% 40% 39% 36% 33% 47 % incl. Synergies $1,347 $1,092 $871 $200 $119 $100 $75 $48 $35 $26 17 % 11 % 7 % 7 % 7 % 6 % 5 % 2 % 2 % (4)% 11 Attractive Pro Forma Revenue Growth and EBITDA Margins vs. Select Cable Company Peers Source: Public filings, Capital IQ.

  12. Slide 12: Meaningful Pro Forma Cash Flow Generation vs. Select Cable Company Peers

    Strictly Confidential 33 % 27 % 24 % 11 % 22 % 21 % 19 % 18 % 13 % 6 % 23 % incl. Synergies 1.5x 6.8x 4.5x 4.0x 3.8x 3.1x 2.4x 1.7x 1.4x incl. Synergies 0.8x 0.3x 25 % incl. Synergies 42 % 29 % 34 % 24 % 21 % 18 % 16 % 15 % 14 % 11 % MergeCo Net Debt / LTM 3Q22 EBITDA LTM 3Q22 EBITDA - Capex Margin

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