Slides
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Universal Music Group Third Quarter & Nine Months Ended September 30, 2025
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Important Information Presentation The financial information included in this presentation is unaudited. Alternative Performance Indicators This presentation includes certain alternative performance indicators which are not defined in IFRS Accounting Standards issued by the International Accounting Standards Board as endorsed by the EU. For further information on non-IFRS measures used by Universal Music Group, N.V. (the “Company”), see the relevant definitions included in the Press Release reporting the Company’s Financial Results for the Third Quarter and Nine Months Ended September 30, 2025, dated October 30, 2025, which is available on the Company’s website at investors.universalmusic.com/reports.
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Sir Lucian Grainge Chairman and Chief Executive Officer Universal Music Group
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Matt Ellis Chief Financial Officer Universal Music Group
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€ 621 € 664 3Q24 3Q25 ADJUSTED EBITDA +11.6% € 2,870 € 3,021 3Q24 3Q25 REVENUE +10.2% 3Q25 Consolidated Results Note: € in Millions; Revenue and Adjusted EBITDA growth shown in constant currency. 21.6% 22.0% 3Q24 3Q25 ADJUSTED EBITDA MARGIN +0.4pp
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€ 1,178 € 337 € 39 € 341 € 328 Subscription Streaming Download & Other Digital Physical License & Other RECORDED MUSIC REVENUE BREAKDOWN 3Q24 3Q25 3Q25 Recorded Music Revenue +8.7% Note: € in Millions; All growth rates are in constant currency. +0.0% +0.0% +23.1% +4.1% € 2,146 € 2,223 3Q24 3Q25 RECORDED MUSIC REVENUE +8.3%
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3Q25 Music Publishing & Merchandising and Other Revenue Note: € in Millions; All growth rates are in constant currency. € 500 € 543 3Q24 3Q25 MUSIC PUBLISHING +13.6% € 237 € 259 3Q24 3Q25 MERCHANDISING AND OTHER +15.6%
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€ 621 € 664 3Q24 3Q25 ADJUSTED EBITDA +11.6% 3Q25 Adjusted EBITDA and Margin Note: € in Millions; Adjusted EBITDA growth shown in constant currency. 21.6% 22.0% 3Q24 3Q25 ADJUSTED EBITDA MARGIN +0.4pp
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Q&A Sir Lucian Grainge Chairman & Chief Executive Officer Matt Ellis Chief Financial Officer Boyd Muir Chief Operating Officer Michael Nash Chief Digital Officer