ZAG investigation against ProSiebenSat.1 concluded

Unterföhring, December 2, 2024. Final decision in the investigation into the voucher business of Jochen Schweizer mydays: The Munich Public Prosecutor's Office (“Staatsanwaltschaft München”) and the Munich District Court (“Amtsgericht München”) have imposed corporate fines totaling EUR 3.9 million on ProSiebenSat.1 and two of its subsidiaries for violations of the German Payment Services Supervision Act (“Zahlungsdiensteaufsichtsgesetz” – "ZAG”): ProSiebenSat.1 Media SE has to pay a fine of EUR 10,000, Jochen Schweizer GmbH a fine of EUR 2.59 million and mydays GmbH a fine of EUR 1.3 million. ProSiebenSat.1 as well as Jochen Schweizer and mydays have cooperated extensively with the public prosecutor and shared the results of their own investigations on an ongoing basis. When setting the amount of the fine, the public prosecutor took this into account in favor of the entities.

With the payment of the fines, the proceedings are concluded for all affected Group entities. After the initiation of the formal investigation proceedings, ProSiebenSat.1 had already recognized an adequate provision in the low single-digit million euro range for the impending charges as of June 30, 2024.

ProSiebenSat.1 Media SE reported in detail on the business activities of Jochen Schweizer GmbH and mydays GmbH with regard to the ZAG and the associated transactions in the annual reports for 2022 and 2023. At the company's Annual General Meeting on April 30, 2024, the Executive Board and Supervisory Board had already provided information on the results of the internal investigation. In the meantime, Jochen Schweizer and mydays have adjusted their business model in close consultation with the German Federal Financial Supervisory Authority (“Bundesanstalt für Finanzdienstleistungsaufsicht" – “BaFin”) so that the entire range of experience gifts is once again available to customers.

Martin Mildner, CFO of ProSiebenSat.1 Media SE: "We are pleased to be able to conclude the ZAG investigation and to concentrate again on the further growth of Jochen Schweizer and mydays. At the same time, we have thoroughly analyzed the functionality and adequacy of our governance systems and, on this basis, implemented significant improvements. We will provide information on possible recourse claims against third parties in due course."