#1Televisa Investor Presentation Second Quarter 2018#2Televisa Forward looking statements This presentation contains statements that constitute forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding the current intent, belief or expectations of our officers or management with respect to future developments, including such important matters as (1) our asset growth and financing plans, (2) trends affecting our financial condition or results of operations, (3) the impact of competition and regulations, (4) projected capital expenditures and (5) liquidity. Forward- looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ materially from those described in forward-looking statements included in this presentation as a result of various factors. These factors, many of which are beyond our control, include the actions of competitors, future global economic conditions, market conditions, changes in interest rates and foreign exchange rates, changes in legislation or regulations applicable to our business, operating and financial risks, the outcome of legal proceedings and the factors discussed under "Risk Factors" in our annual report on Form 20-F for the year ended December 31, 2017. The results in this presentation appear as they were originally reported in our financial statements. 2#3Televisa Overview 2Q'18 Results Underlying Drivers 3#4Televisa Overview 4#5Our Core Businesses Fully Integrated Media and Distribution Content Advertising Cable * Video: 4.3 million RGUS Four broadcast channels in Mexico City and affiliated stations Data: Voice: 4.1 million RGUS 2.3 million RGUS Network Subscription 26 pay-tv networks and 69 feeds in Mexico and globally Licensing & Syndication Univision royalties, other licensing fees, and exports to +/- 80 countries A leading cable operator in Mexico Revenue generating units Sky** Video: 8.0 million subs A leading DTH system in Mexico, operating also in Central America and the Dominican Republic In partnership with AT&T which owns 41.3% of Sky. *** Televisa has equity and warrants which upon their exercise, would represent approximately 36% on a fully diluted, as-converted basis of the equity capital in Univision Holdings Inc. Univision*** Ownership of approximately 36% of equity and warrants on a fully diluted, as-converted basis 5#6Revenue breakdown Consolidated net revenue US$5.24b(1) 34% 8% LTM LTM 2Q'18 2018 2Q'18 YOY YOY US$mm(2) growth (3) growth (3) 37% Content 2,003 35.9% 4.9% 21% Advertising 1,138 9.1% -4.7% 37% 4% Network Subsc. 238 27.6% 7.2% 10% Licensing and Synd. 535 20.5% 8.6% 2% World cup rights 92 n.a. n.a. 34% Cable 1,838 9.8% 5.5% 21% 21% Sky 1,183 0.3% -0.2% 8% Other 428 15.1% -8.7% (1) LTM 20'18. Consolidated net sales include elimination of intersegment operations amounting to US $208.4 million. (2) Equivalent in US$ at the FX rate of 18.72 Ps/US$. (3) 20'18 year over year and full year growth in peso terms. 6#7Operating segment income (1) Net OSI(2) of US$2.10b LTM Share of OSI LTM 2Q'18 US$mm(3) 2Q 2018 2Q'18 YOY YOY growth (4) growth (4) 36% Content 755 34.8% -0.5% 36% 37% 25% Sky 532 -4.3% -1.1% 37% Cable 779 8.2% 7.0% 25% 2% Other 37 38.0% -25.5% (1) Operating Segment Income - OSI - is defined as operating income before depreciation and amortization, corporate expenses, and other expense net. (2) Net OSI is after corporate expenses. As of LTM 2Q'18 Net OSI includes Corporate Expenses of US$119 million. (3) Equivalent in US$ at the FX rate of 18.72 Ps/US$. (4) 20'18 year over year and full year growth in peso terms. 7#8Conservative balance sheet Capacity to continue supporting strategic initiatives In March 2018, the Company executed a revolving credit facility with a syndicate of banks, for an amount equivalent to U.S.$583 million. On June 28, 2018, S&P confirmed Televisa's BBB+ global scale and AAA national scale ratings, highlighting Televisa's healthy balance sheet and competitive position in content and telecommunications. Total debt* (20'18): Financial Assets**: Net debt: Average maturity: Net Debt/ EBITDA Ratio Ps$122.5 billion Ps$58.5 billion Ps$72.2billion 20.3years 2.0 Debt composition 41% USD MXN 59% Moody's Baa1 S&P BBB+ Fitch BBB+ Financial Assets 71% 5.5% 23% PESOS - USD ■ OTHERS *Includes capital lease obligations and other notes payable. ** Financial Assets: Cash, temporary investments and non-current investments in financial instruments. Source: Grupo Televisa's public filings. 8#9Televisa 2Q'18 Results 9#10Second quarter Results Highlights Consolidated Net Sales and Operating Segment Income posted a growth of 16.2% and 14.1%, respectively. Cable sales and Operating Segment Income grew 9.8% and 8.2%, respectively, the fastest pace of revenue growth in six quarters. ➤ Sky resumed growth adding 51 thousand subscribers and reaching an Operating Segment Income margin of 44.9% Content revenue expanded by 35.9%, with Advertising Sales growing 9.1% Content Operating Segment Income expanded by 34.8%, reaching a margin of 39.1% The sublicensing of World Cup rights contributed with Ps.817 million in non-recurring Operating Segment Income All top ten programs transmitted in Mexico's free to air television were transmitted by Televisa, nine of which were also produced by Televisa 10 10#112Q'18 Results: Cable Financial Results Billions of Ps. Revenues ■OSI OSI margin $8.83 $8.04 42.8% 42.2% $3.44 $3.72 2Q17 2Q18 Cable RGUS (Millions of RGUS) • 10.7 • 9.7 2.1 2.3 3.5 4.1 2Q17 Video RGUS Data RGUS 4.1 4.3 2Q18 Voice RGUS Sales increased by 9.8% to Ps.8.8 billion. OSI increased by 8.2% to Ps.3.7 billion, and the margin was 42.2%. Our MSO business (Cable operation) posted 11.3% growth in revenue and OSI. • Revenue and OSI growth driven by RGU net additions in video (78,000), Data (136,100) and voice (114,800), during the quarter. This is the fastest pace of growth in RGUS in more than two years and the fifth consecutive quarter with an accelerating pace of net additions.. 11#122Q'18 Results: Sky Financial Results Billions of Ps. Revenues ■OSI OSI margin $5.6 $5.7 47.1% 44.9% . Sales increased by 0.3% to Ps.5.7 billion. OSI decreased by 4.3% to Ps. 2.5 billion due to the World Cup costs (Sky transmitted 24 matches on an exclusive basis). OSI Margin remained strong at about 44.9%. $2.7 2Q17 $2.5 2Q18 Sky Subscribers (millions) Subscribers 8.00 8.01 8.01 8.01 8.00 7.96 7.91 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 • During the quarter, Sky increased 51 thousand subscribers. The number of net active subscribers as of June 30 2018 was 7.9 million. Sky ended the quarter with 180,482 subscribers in Central America and the Dominican Republic, representing a 6.8% growth when compared with previous quarter. 12#132Q'18 Results: Content Financial Results Billions of Ps. Revenues ■OSI OSI margin • $10.97 $8.08 39.4% 39.1% $3.19 $4.29 2Q17 2Q18 Content Revenue Mix World cup Rights Licensing and Syndication Advertising 16% 48% 25% Network Subscription 11% Revenues • Content sales increased 35.9% to Ps. 11.0 billion, explained by the growth in all three lines of business within our Content segment. OSI increased by 34.8% to Ps.4.3 billion, reaching a margin of 39.1%, in line with last year. Excluding the non-recurring revenue (sublicensing of certain World Cup rights), sales increased 14.5% and OSI 9.2%. • This quarter, Content sales benefited from the sublicensing of certain broadcast and digital rights of the World Cup in Mexico and other Latin American markets, by Ps. 1.7 billion. 13#142Q'18 Results: Content Financial Results - Advertising Billions of Ps. $4.83 $5.27 • 2Q17 2Q18 . Advertising sales increased by 9.1%. The increase in sales is explained by new pricing methodology and the incremental revenue originated in the transmission of the World Cup. Financial Results - Network Subscription Revenues Billions of Ps. $0.94 2Q17 • $1.20 2Q18 • Network Subscription sales increased by 27.6%. The increase is mainly explained by a repackaging of our networks which now includes additional rights that resulted in higher overall price. This came into effect in the fourth quarter of last year. 14#152Q'18 Results: Content Financial Results - Licensing and Syndication Billions of Ps. $2.3 2Q17 Univision Royalties US$ million $81.9 • Licensing and Syndication sales increased by 20.5%. $2.8 • The increase is mainly explained by the step up in the royalty rate. 2Q18 $102.6 2Q17 2Q18 • Royalties from Univision increased by 25.2% to US$102.6 million in second-quarter 2018 from US$81.9 million in second-quarter 2017. 15#16Televisa Underlying Drivers 16#17Underlying Drivers Drivers that are shaping our business, long term I. SKY II. Cable Video RGUS III. Cable Data RGUS IV. Cable Voice RGUS V. Position as a Leading Cable Operator VI. Advertising VII. Network Subscription VIII. Licensing and Syndication IX. Ongoing diversification of top line and OSI 17#18☐ SKY Sky ARPU and Revenues 500 464 457 448 25 21.9 22.2 22.1 450 19.3 400 375 17.5 350 16.1 295 14.5 300 12.5 240 239 230 230 231 234 250 11.2 263 10.0 9.2 200 8.4 150 100 50 0 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 LTM Revenues (Ps. billions) ARPU (Ps.) 2Q'18 Source: Grupo Televisa's public filings. 20 15 10 · 5 0 • Subscribers have expanded at a CAGR of 14.4% since the launch of VeTV in 2007, its low-cost pre-paid offer. Sky prices remain low when compared to other markets in the region. Going forward, this is one of the main opportunities of Sky. Sky launched Blue Telecomm in the first quarter of 2018 using Local Loop Unbundling and in March started offering internet services through fixed wireless. By the end of the month Sky had already enrolled 10 thousand customers. 18#19Million RGUS Cable Video RGUS Video RGUS 2.5 2.3 2.2 2.0 2010 3.4 4.2 4.2 4.1 4.3 Organic growth has been complemented by the acquisition of four cable operators starting in 2011. As of 20'18 Cable segment achieved a total of 4.3 million video RGUS and north of 14.1 million homes passed. Mexico's penetration of pay TV remains relatively low at 59.0%*, when compared with other Latin-American countries. Our transmission of the World Cup further supported our OTT app. An app with true TV Everywhere capabilities. 2011 2012 2013 2014 2015 2016 2017 2Q'18 CAGR in video RGUS of 9.1% since 2010, including acquisitions * As of 10'18. Source: Grupo Televisa and other companies' public filings, IFT & OECD public information. 19#20IV Cable Data RGUS Million RGUS Data services are the main driver of growth Data RGUS 1.7 1.3. 1.1 0.8 2.3 4.1 3.8 3.4 3.1 • • Mexico has 51% penetration of data services (based on % of households with internet services). Organic growth in data services was the fastest on record. Current Televisa Cable segment offer includes multiple high-speed data plans: Residential: 10, 20, 50 & 100 mbps Business: 25, 50, & 100 mbps Data penetration within Televisa's homes passed is still low, at 29%. 2010 2011 2012 2013 2014 2015 2016 2017 2Q'18 Televisa Cable business captures 22.6%* of data customers in Mexico. * As of 10'18 Source: Grupo Televisa and other companies' public filings, IFT & OECD public information. 20#21III Cable Voice RGUS Million RGUS Voice RGUS 0.9 0.8 0.6 0.5 2010 1.2 2.3 2.1 2.1 1.9 2011 2012 2013 2014 2015 2016 2017 2Q'18 With a share of fixed-line voice customers in Mexico of 10.7%*, the , opportunity is still significant * As of 10'18 • Overall number of fixed lines is expanding as a result of attractive offers. Televisa Cable has become the second largest provider of voice services in Mexico in terms of number of customers. Source: Grupo Televisa and other companies' public filings, IFT & OECD public information. 21 21#22✓ Position as a Leading Cable Operator Posting solid results in highly competitive markets Million RGUS 12.0 10.0 8.0 RGUS Televisa Cable 6.0 5.1 4.4 3.9 4.0 3.3 2.0 6.9 10.7 10.1 9.7 9.0 0.0 2010 2011 2012 2013 2014 2015 2016 2017 2Q'18 Telephony RGUS Video RGUS Data RGUS Televisa Cable RGUS have grown at a CAGR of 14.0% since 2010 Source: Grupo Televisa's public filings • Growth driven by: ✓ The ongoing reduction in churn, which now stands at its lowest level in more than three years ✓ The quality of our network and the consistency in the speeds that we offer, which are some of the highest in the country; and Very attractive single, double and triple play services. 22 22#23✓ Position as a Leading Cable Operator (Cont'd) V Resulting in Mexico's 2nd largest telecom network San Diego, CA Mexicali Tijuana Ensenada Nogales, AZ Nogales Cd Juárez R I 19 El Paso, TX " CABLEVISION® ▶Cablemás Es tu idea TVI CABLEVISION TELEFONIA INTERCABLE TELEVISION Dallas, TX San Antonio, Hermosillo Guaymas Chihuahua Pied Negras Monclova Nuevo Laredo Laredo, TX TX Taylor Loretc Cd. Obregon La Paz Los Cabos Navojoa Los Mochis Torreón Monterrey Re Mc Allen, TX Matamoros Saltill Guamuchil Culiacán Linares Durango Fresnillo Cd. Victoria Mazatlán Zacate Altamira Tampico cablecom Telecable Bestel CFE Fiber Network Valladolid Cancún Aguascali SLuis Potosí Mérida Gua Jato Tepic Guadalaja Celaya Querétaro Campeche Pachuca Poza Rica Puerto Vallarta Acatlán Ticul Morelia Veracruz Chetumal Manzanilio Colima Carapan Toluca .F. Pu Escárcega Playa del Carmen Minatitlán Lázaro Cárdenas. Cuernavaca Villahermosa Tuxtla Gutiérrez In 2010, Televisa* received contract for the lease of dark fiber *As part of a consortium formed with Telefónica and Megacable Oaxaca 23 23#24V ✓ Position as a Leading Cable Operator (Cont'd) Most of the heavy capital expenditures are behind us Cable revenue (US$ million) - Capex Cable segment Investments in our cable assets have been put to good work: 1,200 70% Over 124 thousand km (MSOs); 36 60% thousand km are fiber 1,000 50% 800 Additional 31 thousand km in Bestel, 40% Metrored and GTAC backbone 600 30% 400 200 20% 10% 0 0% * 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Capex/Sales Cable capex guidance stays the same for 2018, after a sharp reduction in 2017 • More than 97% has bidirectional capabilities DOCSIS 3.0 has been implemented in the entire network and the national backbone is currently carrying up to 100 G More then 14.1 million homes passed Source: Grupo Televisa's public filings *Guidance for Capex. Second quarter LTM for sales. 24 24#25VI Advertising Restructuring ad business to drive long-term growth $20.6 $20.5 $21.1 $21.5 Advertising Revenue Ps. billion $22.7 $23.2 $23.9 $24.9 $25.5 $23.0 $23.2 $20.7 $21.3 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 LTM 2Q'18 New sales methodology is in place since the beginning of the year. Second quarter of 2018 posted a growth of 9.1%, also boosted by our successful transmission of the World Cup. Source: Grupo Televisa's public filings Second quarter of 2018 posted a growth of 9.1% In this quarter we had a better inventory utilization and a better allocation of spots across the different dayparts During the second quarter, all the top ten rated programs were transmitted by Televisa 25#26VII Network Subscription Still among the most watched networks in Mexico Ps. billion 4.0 3.0 2.0 1.0 0.0 1.5 Network Subscription Revenues 4.4 4.5 4.1 3.6 (2) 3.3 3.2 Network Subscription CAGR in sales of 9.5% for the period 2007 – LTM 2Q'18. One of the most important providers of content for pay TV platforms in Mexico. 2.6 2.4 2.1 1.8 2.9 (1) 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 LTM 2Q'18 (1) Starting on September 10, 2013 we had to forego retransmission revenues as a result of the implementation of the must-offer rules that came into effect with the telecommunications reform. Prior to 2011, network subscription revenues were classified under Pay Television Networks and included as additional revenues. (2) The decrease, when compared to previous year, is mainly explained by the loss of Megacable revenues starting September 2016. 26#27VIII Licensing and Syndication Step-up in royalty rate already happening Univision Royalties • 400 350 300 250 200 156 138 147 143 150 100 50 0 358 336.8 325 314 311 314 273 248 225 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 LTM Royalties (US$mm) 2Q18 . Univision royalties make up most of Licensing and Syndication revenue. Step-up in the royalty rate by 36% started in 2018 Second-quarter royalties from Univision reached U.S.$102.6 million, 25.2% increase when compared to second quarter 2017 The Royalty agreement does not expire unless Televisa voluntarily sells two thirds of its investment, but in no event earlier than 2025 (1) In 2014, Univision transmitted the World Cup which contributed with US$174.2 million of incremental net advertising revenue. (2) Prior to 2011, Licensing and Syndication revenues were classified under Programming Exports and are not directly comparable Source: Grupo Televisa's and Univision's public filings 27#28Ps. Billion IX Ongoing diversification of top line and OSI* Revenue by Business Segment OSI by Business Segment 120 40.0 100 80 60 40 40 20 20 CAGR of 7.5% 0 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 LTM 2Q'18 Content ■Sky Cable Other Businesses Ps. Billion 30.0 CAGR of 6.7% 20.0 10.0 0.0 T 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017M 2Q'18 Content Sky Cable Other Businesses Sky and Cable revenues have expanded at a CAGR of 8.4.% and 24.0%, respectively, since 2007. Content revenues have expanded at a CARG of 3.2%, since 2007. Rapid OSI expansion driven by Sky and Cable, CAGR of 7.8% and 25.6%, respectively, since 2007. Potential for OSI to continue expanding as businesses grow and margins expand. Source: Grupo Televisa's public filings *OSI: Operating Segment Income 28#29Televisa Investor Relations Website: www.televisair.com Carlos Madrazo VP, Head of Investor Relations [email protected] Santiago Casado Investor Relations Director [email protected] Ana Paola Montiel Investor Relations Analyst [email protected] +(52) 55 5261 2445 Av. Vasco de Quiroga 2000, A4. Col. Santa Fe CP. 01210 29