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Corporate Responsibility 2010

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2010 saw the start of a new chapter in the history of the Spanish audiovisual sector where Telecinco was perhaps the main protagonist as we celebrated our 20th anniversary in April and in December completed the acquisition of 100% of Cuatro and 22% of Digital +- as a result of which we are in a solid position which would have been unthinkable but is possible today thanks to the impeccable management of our organisation in the last few years.

In 2020 we also experienced the digital switchover and the resulting increase in the number of new channels while the entry into efect of the General Law on Audiovisual Communication had a major impact, basic to the survival of a large section of the private sector, such as the removal of advertising from public television - in exchange for a 3% subsidiary from private operators – or the restructuring of television advertising management.

With respect to the company’s fnancial year, we can once again let the numbers speak for themselves: our commercial channels were leaders in terms of audience fgures with a 14.6% annual share, almost 3 points ahead of our immediate competitor, turnover showing a net proft of €70.55 million and proftability, with EBITDA of 26.7%. These are the parameters used by a private television company to measure performance and through which we have evidenced our professional efciency in each business area. We currently have the best range of content on Telecinco, Cuatro, LaSiete, Factoría de Ficción, Boing

and Divinity; we establish efective synergies with our Internet portals telecinco.es, cuatro.com and divinity. es; and leave a distinctive mark on the national and international flm industry through the production company Telecinco Cinema.

Our renewed commitment to corporate governance and responsibility came to fruition. In 2010 the Observatory for Corporate Social Responsibility classifed us as the leading IBEX Company in this area for the second consecutive year and we were also ranked one of the top 100 most sustainable companies in the world according to the Global 100 Sustainable Performance Leader prepared annually by the US consulting frm CDR Analytics.

Fortunately we are in a privileged position to take on 2011, thanks to the efort and excellence of management. We will go on working and striving to provide the best content ofering to all kinds of viewers and ensuring that we are an essential showcase for advertisers. We will continue to be the listed company in the media industry ofering the best shareholder return. We have set ourselves very high standards but we trust in the capacity of our team to continue taking up new challenges that strengthen our leadership position.

Alejandro Echevarría

Chairman