1Q 2016 Results Presentation Highlights in Madrid

1Q 2016 RESULTS PRESENTATION Madrid, 9th May 2016 1

Disclaimer In addition to figures prepared in accordance with IFRS, PRISA presents non-GAAP financial performance measures, e.g., EBITDA, EBITDA margin, adjusted EBITDA, adjusted EBITDA margin, adjusted EBIT, adjusted net profit, free cash flow, gross debt and net debt, among others. These non-GAAP measures should be considered in addition to, but not as a substitute for, the information prepared in accordance with IFRS. Non-GAAP financial performance measures are not subject to IFRS or any other generally accepted accounting principles. For further information relevant to the interpretation of these terms, please refer to the ReconciliationSection of the 1Q 2014 earnings press release filed with the Securities and Exchange Commission and posted on prisa.com. This document may contain forward-looking statements as defined in Section 27A of the Securities Act and Section 21E of the Exchange Act, including statements about the financial conditions, results of operations, earnings outlook and prospects of the Company. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. Forward-looking statements are based on management s current expectations and are inherently subject to uncertainties and changes in circumstance and their potential effects and each speaks only as of the date of such statement. There can be no assurance that future developments will be those that have been anticipated. These forward-looking statements are typically identified by words such as plan, believe, expect, anticipate, intend, outlook, estimate, forecast, project, continue, could, may, might, possible, potential, predict, should, would and other similar words and expressions, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements involve a number of risks, uncertainties or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, those factors described in our filings with the Securities and Exchange Commission under RiskFactors . 2

Highlights of the period EBITDA in Q1 reaches 60 million euros (-12%) +20% in constant currency Advertising in Spain shows a drop during 1Q 2016, affected by the Easter impact. In April, this effect reverses LatAm activities show growth in local currency in most of the countries FX evolution during 1Q 2016 has had a negative impact of 49 million euros on revenues and 22 million on EBITDA Digital transformation revenues increase by 12% in local currency Continued cost control policy Financing interests have been significantly reduced Net bank debt has been reduced by 48 million euros during the quarter 3 3

Group Results in detail Million Euros 2016 2015 % chg. Fx Impact % ex FX 10.6 Revenues 329.1 341.9 -3.8 48.9 20.1 EBITDA 59.7 68.0 -12.2 22.0 EBITDA margin % 18.1% 19.9% 40.7 EBIT 43.5 44.7 -2.7 19.4 EBIT margin % 13.2% 13.1% Net profit 13.0 8.7 Revenues Breakdown (%) Santillana Spain and Portugal Radio 12% Latam 41% 51% Press 17% Media Capital 59% 20% * All Group and business unit figures are Adjusted (exclude non-recurring items, detailed in the press release) 4

Digital Transformation growth Evolution of Transformation Operating revenues (mn ) Revenues at cst ccy 15% % of transformation revenues of the total +12% 68 194 160 56 144 90 64 1Q 2015 1Q 2016 2011 2012 2013 2014 2015 Digital Revenues breakdown in 1Q 2016 Evolution of unique browsers (Million) Others , 10% 121 Advertising, 22% +17% 104 Santillana, 68% 1Q 2015 1Q 2016 *Santillana: UNO and Compartir 5 * All Group and business unit figures are Adjusted (exclude non-recurring items, detailed in the press release)

Santillana Operating performance (mn ) Revenues EBITDA +19% +28.6% -5% -8.7% 211 74 177 168 58 53 1Q 2015 1Q 2016 1Q 2016 (ex-FX) 1Q 2015 1Q 2016 1Q 2016 (ex-FX) Revenue performance by Business line at constant currency (mn ) +19% 1Q 2015 1Q 2016 +20% 211 177 160 133 +15% 50 44 * Traditional Digital: UNO & Compartir Total Revenue (exFX) * Traditional includes Private and Institutional * All Group and business unit figures are Adjusted (exclude non-recurring items, detailed in the press release) 6

Santillana Operating performance by Geography (mn ) JANUARY - MARCH 2016 2015 168.3 177.1 152.5 159.4 1.6 41.6 0.9 108.5 15.8 2016 52.9 47.3 -16.2 -16.0 19.3 -6.6 50.9 5.6 REVENUES Total Santillana Traditional Education and Compartir Spain* Brazil Mexico Other Countries System UNO EBITDA Total Santillana Traditional Education and Compartir Spain* Brazil Mexico Other Countries System UNO % Chg. -5.0% -4.3% 21.9% -33.3% -33.0% 14.9% -10.8% % Chg. -8.7% -15.1% -1.5% -42.4% 11.9% 11.3% 158.5% % ex Fx Chg. 19.1% 19.8% 21.9% -7.4% -21.2% 38.3% 12.7% % ex Fx Chg. 28.6% 21.2% -1.5% -17.7% -1.0% 39.5% 222.2% 1.3 62.3 1.4 94.5 17.7 2015 57.9 55.8 33.5 -7.5 45.7 2.2 *Spain includes Corporate Center Digital Learning systems: UNO & COMPARTIR NUMBER OF STUDENTS (Thousands) +8% 1Q 2015 1Q 2016 873 808 +11% 592 534 +2% 281 275 Compartir UNO Total students * All Group and business unit figures are Adjusted (exclude non-recurring items, detailed in the press release) 7

Radio Operating performance (mn ) Revenues EBITDA -22.8% -1.7% -9.4% -31.5% 7 71 70 64 6 5 1Q 2015 1Q 2016 1Q 2016 1Q 2015 1Q 2016 1Q 2016 (ex-FX) (ex-FX) Geographical Contribution 1Q 2016 EBITDA Revenues Spain 41% * International 38% Spain 62% * International 59% * International includes Adjustments and others * All Group and business unit figures are Adjusted (exclude non-recurring items, detailed in the press release) 8

Radio Spain and LatAm Radio Spain Operating performance (mn ) EBITDA Revenues -6.2% -15.2% 43 40 2.4 2.1 1Q 2015 1Q 2016 1Q 2015 1Q 2016 Radio LatAm Operating Performance (mn ) Revenues EBITDA +3% -24.4% -16.1% 30 29 -36.9% 24 5.7 4.3 3.6 1Q 2015 1Q 2016 1Q 2016 (ex-FX) 1Q 2015 1Q 2016 1Q 2016 (ex- FX) * All Group and business unit figures are Adjusted (exclude non-recurring items, detailed in the press release) 9

Press Revenues (mn ) Revenues Evolution Revenues +2.3% 0.9 (1) 1.4 57 57 56 56 1Q 2015 1Q 2016 Revenues 1Q 2015 Advertising Circulation Add-ons and others Revenues 1Q 2016 Expenses /EBITDA (mn ) Expenses Evolution EBITDA (0.3) 1.3 (0.5) (1.5) 57 1.4 56 1Q 2015 -0.7 1Q 2016 Expenses 1Q 2015 Purchases and consumptions Add-ons External services Personnel Expenses 1Q 2016 * All Group and business unit figures are Adjusted (exclude non-recurring items, detailed in the press release) 10

Press Digital advertising / total advertising (%) Digital advertising revenues (mn ) +26.1% 40 36 30 26 10 20 8 13 10 1Q2015 1Q2016 2010 2011 2012 2013 2014 2015 1Q2016 Spain PC+ Mobile Unique Users (thousands) Elpais.com Worldwide audience Q1 2016 13 M U. Users 57 M U. Browsers 15.5 M Videos Spain PC+ Mobile March-16 Ranking Total Internet- PC+Mobile 1 Google.es 2 Youtube.com 3 Facebook.com 4 Android.com 5 Msn 6 Elpa s.com 7 Yahoo Unique Users 26.419 23.722 20.755 17.809 15.721 15.081 14.948 YoY 22% 12% 20% 31702% 0% 5% 6% Unique Users 49% 51% Spain International 36% * All Group and business unit figures are Adjusted (exclude non-recurring items, detailed in the press release) 11

Media Capital Operating performance (mn ) EBITDA Revenues +3% 39 -0.3% 38 6 6 1Q 2015 1Q 2016 1Q 2015 1Q 2016 Advertising performance (mn ) Media Capital Revenues Breakdown (%) 1Q 2016 1Q 2015 +8.6% 16% 19% 26 24 15% 22% 63% 66% 1Q 2015 1Q 2016 Audiovisual Production Added Value calls and others Advertising * All Group and business unit figures are Adjusted (exclude non-recurring items, detailed in the press release) 12

Evolution of consolidated net debt Total Bank net debt evolution -3,550 mn 5,044 3,245 3,118 2,582 -48 mn 1,660 1,612 2008 2011 2013 2014 2015 1Q 2016 In 1Q 2016 total Bank net debt has been reduced by 48 million: In February: debt buy back with remaining proceeds form Canal+ cancelling 65 million euros of debt with 16.02% discount. In April: Mandatory convertible bond into Prisa shares at 10 euros amounting 100 million euros approved. *All Group and business unit figures are Adjusted (exclude non-recurring items, detailed in the press release) 13

Grupo Prisa Operating Cashflow January- March 2016 Mn 10 68 (4) 62 (0.4) 62 62 (6) 62 62 (11) 51 51 0 EBITDA (ex Redundancies-ex provisions) Chg. WC Redundancies Taxes Others Operating Cashflow Capex Cashflow before financing 1Q 2016 1Q 2015 64 (6) (9) (13) 2 37 (14) 23 Chg. -2 +16 +6 +8 -2 +25 +3 +28 14

Conclusions Advertising in Spain affected in Q1 by a tough comps due to Easter impact. Latam activities show growth in local currency with FX impacting significantly in Q1. Transformation revenues continued performing satisfactorily. Continued focus in cost control. Reinforcing the balance structure remains a priority. 15

THANK YOU. 16