ViacomCBS partners with Sky to launch Paramount+ in Europe

Transformative Distribution Partnership Accelerates Global Expansion of ViacomCBS' Premium Streaming Service to the UK, Ireland, Italy, Germany, Switzerland and Austria in 2022

Extended Partnership Another Key Step In Sky Aggregation Strategy, To Bring The Best Apps and Content To Sky Q Platform

New Multi-Year Comprehensive Agreement Also Includes Extended Carriage of ViacomCBS' Pay TV Channels and the Renewal of its Ad Sales Partnership in Select Markets

ViacomCBS Networks International (VCNI), a division of ViacomCBS Inc. (NASDAQ: VIAC, VIACA) and Sky, part of Comcast Corporation (NASDAQ: CMCSA), today announced that Paramount will launch on Sky platforms in the UK, Ireland, Italy, Germany, Switzerland and Austria (GSA) in 2022 as part of a new multi-year distribution agreement that also includes the extended carriage of ViacomCBS' leading portfolio of pay TV channels and the renewal of Sky as an ad sales partner in select markets.

We are thrilled to expand our long-standing partnership with Sky to continue delivering ViacomCBS' leading portfolio of premium entertainment brands to Sky customers and importantly bring Paramount to new audiences in all Sky markets, including the UK, Ireland, Italy, and GSA, said Raffaele Annecchino, President and Chief Executive Officer, ViacomCBS Networks International. This transformative distribution deal is key to accelerating our global ambitions in streaming while also supporting Sky's strategic objectives to better serve audiences with greater flexibility in how they consume our content across all platforms.

Paramount is the latest in a series of apps to come to Sky Q adding more than 10,000 hours of content, further enhancing Sky's aggregation strategy and enabling Sky customers to watch even more of the best content together in one place on the Sky Q platform.

Stephen van Rooyen, Executive VP & Chief Executive, UK & Europe at Sky said: This is another example of how we are innovating for our customers and further aggregating all the best apps and content together in one place on Sky Q, giving them more great TV to watch than ever before. Paramount is an excellent service with a huge range of fantastic films and TV series, and our new, broader agreement with ViacomCBS will benefit both businesses.

Upon launch, Sky Cinema subscribers will get the bonus of Paramount included at no additional cost, providing access to two fantastic services side by side with more than 10,000 hours of extra content for one affordable price. As part of this partnership, Paramount Pictures' feature films will remain available on Sky Cinema in the UK and will join Sky Cinema in Germany and Italy in 2022. All other Sky customers will be able to subscribe to Paramount as an add-on to their account.

Paramount features an expansive catalog of original series, hit shows and popular movies across every genre from world-renowned brands and production studios, including SHOWTIME , BET, CBS, Comedy Central, MTV, Nickelodeon, Paramount Pictures and the Smithsonian Channel, in addition to a robust offering of premier local content. Outside of the United States, the premium streaming service offers nearly 3,000 episodes of kids' content, 1,000 episodes of reality, more than 500 films, and 2,500 hours of Paramount Originals, CBS and SHOWTIME series, dramas, and sitcoms.

Titles that will become available through 2022 in the UK, Ireland, Italy and GSA include a collection of scripted, exclusive Paramount Originals and exciting new takes on iconic franchises, including HALO, The Offer and the new iCarly series. As the international home of SHOWTIME, the service will offer The Man Who Fell to Earth, Ripley, Super Pumped, and American Gigolo, in addition to popular titles from ViacomCBS, such as Kamp Koral: SpongeBob's Under Years, Star Trek: Prodigy, and MTV Unplugged. The service will also feature a collection of new movie premieres and fan favorites from Paramount Pictures such as films from the Mission Impossible and Transformer franchises.

In addition, ViacomCBS and Sky reached a multi-year extension for carriage of ViacomCBS' linear channels - including Comedy Central, MTV and Nickelodeon - in the UK, Ireland, Italy and GSA. The channels will be complemented by a strong selection of box sets, giving customers the flexibility to watch the content they love whenever and wherever they want.

ViacomCBS renewed its multi-year agreement with Sky as an ad sales partner for all platforms and channels in the UK and Italy. Sky Media will continue to handle ad sales across the ViacomCBS portfolio of channels, including Channel 5 in the UK, where ViacomCBS and Channel 5 will benefit from Sky Media's market-leading innovation in addressable advertising.

Other terms of the agreements were not disclosed.

Paramount will also be available direct-to-consumer in UK, Ireland, Italy and GSA through the Paramount app for iOS and Android and across supported connected TV devices and OTT platforms. Pricing and local content offering will be announced at a later date.

About Paramount

Paramount is a global digital subscription video streaming service from ViacomCBS that features a mountain of premium entertainment for audiences of all ages. Internationally, the streaming service features an expansive library of original series, hit shows and popular movies across every genre from world-renowned brands and production studios, including SHOWTIME, BET, CBS, Comedy Central, MTV, Nickelodeon, Paramount Pictures and the Smithsonian Channel, in addition to a robust offering of premier local content. Launched on March 4, 2021, the service is currently available in the U.S., Canada, Latin America, and the Nordics, with Australia to launch August 11, 2021. By the end of 2021, ViacomCBS will have launched Paramount in 25 markets, ramping to

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