#1Dish TV India Limited 3Q FY22 Earnings Presentation Stock Code: BSE - 532839 NSE- DISHTV LSE: DTVL disht✓ d2h#2Disclaimer disht✓ d2h Some of the statements made in this presentation are forward-looking statements and are based on the current beliefs, assumptions, expectations, estimates, objectives and projections of the directors and management of Dish TV India. Limited about its business and the industry and markets in which it operates. These forward-looking statements include, without limitation, statements relating to revenues and earnings. The words. "believe", "anticipate", "expect", "estimate", "intend", "project" and similar expressions are also intended to identify forward looking statements. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond the control of the Company and are difficult to predict. Consequently, actual results could differ materially from those expressed or forecast in the forward-looking statements as a result of, among other factors, changes in economic and market conditions, changes in the regulatory environment and other business and operational risks. Dish TV India Limited does not undertake to update these forward-looking statements to reflect events or circumstances that may arise after publication.#3Key highlights for the quarter disht✓ 3 d2h#4disht✓ d2h Key financial highlights Operating Revenues Operating revenues for the quarter were Rs. 7,107 million EBITDA EBITDA of Rs. 4,260 million EBITDA Margin EBITDA margin at 59.9% PAT Net profit for the quarter was Rs. 802 million Debt Debt as on Dec. 31, 2021 was Rs. 4,535 million 4#5Rising vaccination coverage is expected to go a long way in enhancing consumer sentiment & building back economic momentum. In addition, government's emphasis on increasing rural income & productivity should help increase the spending capacity of the vast non-urban population of the country. The Company maintained a cautious approach towards expense management thus achieving overall operating efficiencies which helped an 8.7% Y-o-Y reduction in total expenses. With rural stress and inflationary pressures, price sensitive customers at the bottom of the pyramid remained vulnerable to churn to the Free DTH platform. Streaming platforms as well as content bundling by telecom players continued to give competition to the DTH service providers. A mixed quarter disht✓ dishtv d2h Focus on gaining incremental market share helped the Company ramp up gross acquisitions to almost the pre-pandemic level, though continued dependence exclusively on internal funds restricted the ability of the business to go all out thus keeping net additions under pressure. d2h Consumers typically tend to step up spending during festivals with the season traditionally accounting for majority of the annual revenues of businesses. Overall, the cloud of Covid 19 obstructed any meaningful increase in consumer confidence and spending. While a rural slowdown was evident since early days of the pandemic, the stop start nature of the virus dampened rural demand even more, notwithstanding the festive season. ① Diwali 2021 witnessed aggressive marketing by consumer focused companies. While higher marketing spends did help generate incremental acquisitions, consumer spending went below par once the pent-up demand was exhausted. 5#635,000 30,000 31,539 25,000 20,000 15,000 10,000 5,000 disht d2h Repayment of debt Dish TV India Limited - Debt over the years 27,582 17,844 8,099 5,566 4,535 Mar-18 Mar-19 Mar-20 Mar-21 Sep-21 Dec-21 Gross debt (Rs. mn) 6#742 Million Users & Counting Watcho Family is Growing Bigger and Stronger! Entertainment at your fingertips - Watcho LIVE TV CHANNELS GET ENTERTAINED, BECOME AN ENTERTAINER. 30+ ORIGINAL SERIES EXCLUSIVE DishTV & d2h OFFERS TALENT HUB With a user base of over 42 million, Watcho doesn't just have a wide range of entertainment across all genres, but it also gives every Indian Watcho a chance to showcase their talent to the world! disht✓ Watcho WE ARE THE CHAMPIONS! Our award cabinet is getting bigger by the day. This time it's... E4M PLAY AWARDS 2020 CATEGORY Best use of Video by/on a Brand Owned Channel Heartiest Congratulations to the entire team for making this happen. Looking forward to many more such recognitions. CONNECT WITH US OOO 7 d2h#8THE JAFL PLAN PASHA ABIR CHEATERS THE VACATION Originals - Watcho disht✓ CANNES WORLD FILM FESTIVAL MONTREAL Yer The ROTUPE NOMINEE Yeh Yaariyan Vegas NYFA London Independent Film Awards SIF COFF MELBOURNE BuatCHC originals AGHAAT DIRECTED BY ZAYED RIZWAN Hindi TITLI CURRENT MAARTI HAI d2h MYSTERY DAD 80#945 45 40 40 35 30 25 20 20 15 10 5 Watcho - Downloads so far 'Watcho' continued to gain strength as an OTT platform with a strong semi urban presence in addition to a significant tier-1 visibility. Cumulative downloads (mn) 14 12 30 25 25 disht d2h 36 222 42 Apr-20 Jun-20 Sep-20 Dec-20 Mar-21 Jun-21 Sep-21 Dec-21 7 6#103Q FY22 Financials disht✓ d2h 10#11Quarterly performance metrics Subscription revenues L Rs. 6,459 million Operating revenues L Rs. 7,107 million L EBITDA Rs. 4,260 million EBITDA Margin 59.9% disht✓ d2h P&L structure - 3Q FY22 Subscription revenues 5% 2% 2% Consolidated revenues ■ Additional marketing, promotional fee and bandwidth charges ■ Advertisement income ■ Others 91% 3% 13% Consolidated expenses 18% 5% Programming and other costs Other operating expenses(excl. prog. & other costs) Employee benefit expenses EBITDA margin - 59.9% Other expenses (including S&D expenses) 11#1216,500 Operating free cash flows Operating free cash flows (Rs. mn.) disht d2h Operating free cash flows (Rs. mn.) 4,500 16,092 4,152 4,000 3,500 3,000 2,500 2,000 1,500 1,000 500 16,000 15,500 15,000 14,500 14,000 13,862 13,500 13,000 12,500 FY20 FY21 Operating free cash flows: EBITDA - Box Capex 3,043 3Q FY21 3Q FY22 12 12#13Summarized consolidated P&L - Quarterly 3Q FY2022 vs. 3Q FY2021 Quarter ended Quarter ended Rs. million Dec. 2021 Dec. 2020 Operating revenues break-up (Rs. mn) disht d2h Operating revenues 7,107 8,157 Expenditure 2,847 3,117 Subscription revenues 113 149 386 EBITDA 4,260 5,039 EBITDA margin (%) 59.9 61.8 Other income 49 31 Additional marketing, promotional fee and bandwidth charges Depreciation 2,440 3,148 Advertisement income 6,459 Finance cost 778 974 Exceptional items Profit/ (Loss) before tax 1,090 949 Teleport services, CPE & Other Tax expense: 3Q FY2022 - Current Tax 139 - Current Tax-prior years Deferred Tax 149 84 Deferred Tax- prior years Net Profit/ (Loss) for the period 802 864 13#14Annual performance metrics Subscription revenues Rs. 29,874 million L Operating revenues Rs. 32,494 million L EBITDA Rs. 20,170 million L disht d2h P&L structure - FY21 5% 1% ■Subscription revenues ■Additional marketing, 2% Consolidated revenues 92% 3% 11% Consolidated expenses 18% 5% EBITDA Margin 62.1% promotional fee and bandwidth charges Advertisement income ■ Others Programming and other costs Other operating expenses(excl. prog. & other costs) Employee benefit expenses EBITDA margin - 62.1% Other expenses (including S&D expenses) 14#15Summarized consolidated P&L- Annual disht d2h FY 2021 vs. FY 2020 Year ended Year ended Rs. million Mar. - 2021 Mar. - 2020 Operating revenues break-up (Rs. mn.) Operating revenues 32,494 35,563 Expenditure 12,324 14,504 EBITDA 20,170 21,060 340 Subscription revenues 759 1,521 EBITDA margin (%) 62.1 59.2 Other income 156 136 Depreciation 15,319 14,262 Additional marketing, promotional fee and bandwidth charges Financial expenses 4,184 5,652 29,874 Advertisement income Exceptional items 7,798 19,155 Profit (Loss) before tax (6,975) (17,873) ■Teleport services, CPE & Other Current Tax Current Tax-prior period (47) FY 2021 Deferred Tax 4,970 (1,325) Deferred Tax- prior period Net Profit/ (Loss) for the period (11,899) (16,548) 15#16Rs. million Equity and liabilities Equity (a) Equity share capital (b) Other equity (c) Non-controlling interest Liabilities (1) Non-current liabilities (a) Financial liabilities (i) Borrowings (ii) Lease liabilities (iii) Other financial liabilities (b) Provisions (c) Other non-current liabilities (2) Current liabilities (a) Financial liabilities (i) Borrowings (ii) Trade payables Consolidated Balance Sheet dishtv d2h Sept. 2021 (Unaudited) Total outstanding dues of micro enterprises and small enterprises Total outstanding dues of creditors other than micro & small enterprises (iii) Lease liabilities 1,841 25,895 (596) 1,084 19 281 166 4,482 60 10,451 (iv) Other financial liabilities (b) Other current liabilities (c) Provisions Liabilities directly associated with assets classified as held for sale Total equity & liabilities 1 1,255 5,780 38,551 247 89,520 16#17Rs. million Assets (1) Non-current assets (a) Property, plant & equipment (b) Capital work in progress (c) Goodwill (d) Other intangible assets (e) Intangible assets under development (f) Financial assets (i) Investments (ii) Loans (iii) Other financial assets (g) Deferred tax assets (net) (h) Current tax assets (net) (i) Other non-current assets (2) Current assets (a) Inventories (b) Financial assets disht d2h Sept. 2021 (Unaudited) 17,711 4,352 22,380 16,065 5,520 0 104 6,383 326 8,381 193 (i) Investments (ii) Trade receivables (iii) Cash and cash equivalents (iv) Bank balances (v) Loans (vi) Other financial assets (c) Other current assets Assets classified as held for sale Total assets 949 834 1,639 148 4,467 68 17 89,520#18Thank you disht✓ d2h