SHAPING SHAPING THE FUT THE FUTURE URE #bestofbothworlds Importa - - PowerPoint PPT Presentation

SHAPING SHAPING THE FUT THE FUTURE URE

#bestofbothworlds

Importa Important nt notice notice

Pres Presenter enters s

Pe Pernille Erenbjerg An Ande ders Je Jensen Jør Jørgen Mads dsen Li Linde deman mann

Ne New w co corporat rporate e bran brand

Pres Presenting enting

Transaction Transaction overview

• verview

MTG Grou

• up

Sharehol

• lde

ders TDC C Grou

• up

Sharehol

• lde

ders

Ownership of the combined entity Transaction structure

28% 72% 72% New Company with New Brand

Summar Summary

Dea eal str tructure cture

• Valuation
• Corporate

Governance

• Value creation
• Merger approval
• Timetable

Europe’s first fully convergent media & communic communications ations provider provider

• Year 1 cash accretive

Significant synergies

5% 15% ~400 ~600 ~200

TD TDC C Group Group

Br Broa

• adb

dband/T d/TV Mobi Mobile Br Broa

• adb

dband/T d/TV Mob

• bile

Norway Norway Denmar mark

Denmar mark Finlan Finland Swede den Norway Norway

MT MTG G Nord Nordic ic Enterta Entertainment inment & MT & MTG G Studios Studios

MTG Studi dios

• s (17 cou
• untries)

First First of

• f its

its kind combina kind combination tion

MTG Studi dios

• s

Norway Norway Swede den Finlan Finland Denmar mark

Re Reve venue (DKK KKm) m) Re Reve venue Grow

• wth

EBIT BITDA A (DKK KKm) m) EBIT BITDA A mar margin EBIT BITDA-CAPE CAPEX (DKK KKm) m) Ca Cash Con Conve version

• n

Pe Peop

• ple

A scale A scale Nord Nordic ic player player

2017 figures

Com Compelling s pelling strate trategic gic ration rationale ale

1 2 3

Prov Providing ng att attractiv ractive con consum umer r propos propositi ition

• ns with

ith broad, broad, flexibl ible an and d person personali alize zed s d serv rvice ices for for ev everyon ryone Hi Highl ghly y val value ue c cre reating ating for

• r

share arehol

• lde

ders rs Com

• mbina

bination tion of

• f tw

two

• hig

ighly com

• mple

plementa tary ry entertainme tertainment t com

• mpan

panie ies

Excel Excellent lent content content off

• ffering

ering & scale & scale

Originals & Own productions Acquired TV & Movies Partnerships Acquired Sports

Pan Pan-Nord Nordic ic rea reach & mark ch & market et position position

Abi Abili lity ty to to reach each all all 10 m

10 mill illion ion No

Nordic h dic households

• useholds on
• n hi

high qu h qualit ality y ne networ tworks ks

2.8 2.8m m

TV subs ubs

2.1m 2.1m

Str Strea eami ming subs bs

3.1m 3.1m

Mob Mobile e Voi

• ice s

ce subs ubs

1. 1.5m 5m

Bro Broad adban and d subs ubs

Best Best-in in-class te class tech ch capabilities capabilities & consume & consumer insight r insight

>1,000 Top 5

Multi-platform consumer insight

New TV experience

Own Own streami ming Own Own linear Wit With partners

Next Next gen genera eration tion enter entertainme tainment nt ser servic vices es

Enterta Entertainment inment Made Made for for You You

Mo Movies es 1 2 3 On On Dema emand Seri Series es Fre Free TV TV Sp Spor

• rts

ts Kids

Driving m Driving mobile

• bile video revolution

video revolution in t in the he Nord Nordics ics

Acces ccess to to bes best t spor ports ts con conten tent

• Per

Person

• nalised

ed servi ervice ce bas based ed on

• n

you your i r inter teres est

• Cho

Choos

• se

e mobil mobile e acces ccess pack pack bas based ed

• n
• n you

your r need eeds

Future Future proo proof f advertising advertising mod models els

Digital tal 40% IP 100% IP Val Value e grow rowth th Linea ear r viewi ewing Ra Radi dio

Significant Significant cost cost & & revenue revenue syner synergies gies

Type Description Run-rate Cash Flow impact Cost synergies

• ~400mDKK

Revenue synergies

• ~200mDKK

Integration costs

• ~500mDKK

(2018-2019)

Cas Cash flow

• w accr

ccreti etive

Cre Creating ating value fo value for r shar shareholder eholders s fro from m year 1 year 1

Valuati tion

• n upsi

pside

15.5x 14.6x 13.5x 13.0x 5% 10% 15%

Exp xpected ected net et lev everag erage e ev evol

• lutio

tion

Enabling Enabling impro improved capital structure ved capital structure

2.6 2.8

Ill Illustr trativ tive e dividen end tr trajector ectory

And And highe higher r shar shareholder eholder retur returns ns

[1.40] 1.05

+33%

1.15

Com Combining bining compleme complementary capabilities ntary capabilities & skills & skills

Board of Directors Management Team

Pierre Danon Anders Jensen Pernille Erenbjerg

~1 ~1800 00

Employees ees

~810 ~8100

Employees ees

SHAPING SHAPING THE FUT THE FUTURE URE

#bestofbothworlds