At an investor meeting in Copenhagen Schibsted told attendees what Schibsted will focus on in 2014. Schibsted own Subito.it Leboncoin.fr Blocket.se Finn.no Infojobs Car4you Hasznaltauto.hu willhaben.at mudah.my ... and many other classified websites.

1. SEB Nordic
Conference
Trond Berger, CFO
Copenhagen 9 January 2014
SEB COPENHAGEN 2014
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2. Two strategic pillars
Media Houses
Online Classifieds
New Online
Services
We aim to be the global number
1 in Online Classifieds
Advanced
data analytics
Seizing the digital growth
opportunity in core markets
Customer
insights
Payment
services
Powerful brands and digital platforms
reaching ever more readers
Technology
platforms
Organization &
Competence
SEB COPENHAGEN 2014
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3. Digital transformation is accelerating
Online revenue share development
Percent
100%
46%
80%
online revenue share
60%
64%
40%
online EBITDA share
76%
20%
online EBITDA share
excluding new ventures
0%
2010
2011
Online classifieds
2012
Jan-Sep
2013
Media Houses online
Media Houses offline
SEB COPENHAGEN 2014
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4. Online Classifieds
SEB COPENHAGEN 2014
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5. Online Classifieds
Long term growth track record
Revenue development, Online Classifieds
NOK million
4 500
+13% Jan-Feb 2013
3 000
1 500
0
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
SEB COPENHAGEN 2014
LTM
5

6. Online classifieds
Well balanced portfolio with
steady development
Large established
- Consistent strong performance
Other established
- Large untapped potential
Investment phase
– for long-term growth
2 333
2 000
1 663
1 317
1 139
930
713
664
569
162
164
190
-259
-419
-719
Jan-Sep 11
Jan-Sep 12
Revenue
Jan-Sep 13
EBITDA
Jan-Sep 11
Jan-Sep 12
Revenue
Jan-Sep 13
EBITDA
Jan-Sep 11
Jan-Sep 12
Jan-Sep 13
EBITDA
Figures in NOK million
SEB COPENHAGEN 2014
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7. Online classifieds
Steady growth, investments
in new market positions
Norway
1200
100%
real estate and generalist
 Building new verticals like
1000
75%
+10%
800
Million NOK
 Clear leader in jobs, cars,
600
50%
50%
49%
49%
400
25%
200
0
0%
Jan-Sep 11
Jan-Sep 12
Revenues
Jan-Sep 13
professional services and
personal finance
 Focus on product
development to meet
competition from social
networks
 Certain free services
considered on the
generalist vertical
EBITDA margin
SEB COPENHAGEN 2014
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8. Online classifieds
Solid position in France, room for
further monetization of verticals
France
1200
100%
top 5 web page in France
 Clear leader in generalist.
1000
70%
69%
68%
75%
800
Million NOK
 Leading classifieds portal,
Number 1 in cars
 Increasingly demanding
600
50%
comparable figures
 Current real estate
400
+29%
25%
200
0
0%
Jan-Sep 11
Jan-Sep 12
Revenues
Jan-Sep 13
EBITDA margin
cooperation agreement
expires at the end of 2014
 Modest adaption of the
market offering in 2014 to
prepare for the transition
Source traffic rank: Comscore nov 2013 (page views)
SEB COPENHAGEN 2014
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9. Online classifieds
Steady revenue growth,
investments in new verticals
Sweden
1200
100%
 Strong leader in generalist
and cars
1000
75%
Million NOK
800
60%
58%
50%
400
vertical
 Building positions in real
54%
600
 Steady growth in a mature
estate and jobs
+13%
25%
200
0
0%
Jan-Sep 11
Jan-Sep 12
Revenues
Jan-Sep 13
EBITDA margin
SEB COPENHAGEN 2014
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10. Online classifieds
Solid positions with good
potential in Spain
Strong positions in all verticals
Generalist: #1/#2
Cars: #1
Real estate:
shared #1
Jobs: #1
 Substantially increased focus on traffic growth
 Reduced monetization, increased marketing cost in Q4 2013
and 2014
 Complete product makeover (all verticals except InfoJobs)
 Talent and best practice from Schibsted
SEB COPENHAGEN 2014
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11. Online classifieds
Profitable market leaders
in several markets
Country
Position
Visits per month
Italy
Leading in Generalist and Cars
80 million (+24% Y/Y)
Austria
Leading in Generalist and Real
estate
Close to leading position in Cars
21 million (+51% Y/Y)
Ireland
Leading in Generalist and the car
market
17 million (+11% Y/Y)
Malaysia
Leading in Generalist, positive
development in cars and real estate
35 million (+58%)
Source traffic data: Schibsted internal figures web+mobile October 2013
SEB COPENHAGEN 2014
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12. Online classifieds
Continued investments in Online
classifieds New ventures
 Significant step up in
investments in 2013 has
yielded strong growth in
traffic and volume
 On a clear path to leadership
in several markets
 Continued high investments
in New ventures to be
expected going forward
SEB COPENHAGEN 2014
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13. Significant investments and strong
growth in Brazil
 Fierce competition against OLX in Brazil
 Continued high level of investments in Q4 2013, which will continue
in 2014
 Schibsted’s Bomnegocio site performs better than OLX on quality
and user engagement KPIs
Total pages viewed
New ads per day
500
50 000
Strong growth
in 2H 2013,
regained
leadership for
Bomnegocio
+161% Y/Y
400
30 000
300
Million
40 000
20 000
200
100
10 000
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
2011
2012
2013
Source: Schibsted
Nov-2012
Dec-2012
Jan-2013
Feb-2013
Mar-2013
Apr-2013
May-2013
Jun-2013
Jul-2013
Aug-2013
Sep-2013
Oct-2013
Nov-2013
0
-
Bomnegocio.com
OLX.com.br
SEB COPENHAGEN 2014
Source: Comscore
13

14. Media houses
SEB COPENHAGEN 2014
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15. World class digital media houses
Steady online growth and
continued print decline
8 000
60%
50%
6 000
Million NOK
40%
4 000
30%
20%
2 000
13%
12%
10%
11%
0
0%
Jan-Sep 11 Jan-Sep 12 Jan-Sep 13
Offline revenues/Other
Online revenues
EBITDA margin
 25% online revenue share in
media houses
 29% in VG and Aftonbladet
 15% in Norwegian
subscription papers
 Schibsted Growth a pure play
online growth setup
 16% growth in online
advertising revenues
Jan-Sep 2014
 Continued decline for print
advertising –
 15% decline Jan-Sep 2013
SEB COPENHAGEN 2014
15

16. World class digital media houses
Single copy papers: Strong online
growth and cover-price increases
Norway
Sweden
1600
60%
1600
60%
50%
50%
1200
40%
800
30%
16%
16%
16%
20%
400
Million NOK
Million NOK
1200
40%
800
400
30%
11%
14%
20%
12%
10%
0
0%
Jan-Sep 11Jan-Sep 12Jan-Sep 13
Offline revenues
EBITDA margin
Online revenues
10%
0
0%
Jan-Sep 11Jan-Sep 12Jan-Sep 13
Offline revenues
Online revenues
EBITDA margin
Online advertising share 64% in Q3 13 (54% in Q3 12)
Main digital growth drivers are mobile and web TV
SEB COPENHAGEN 2014
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17. World class digital media houses
Continued online growth
and print decline
Schibsted Norge
Subscription newspapers
70%
3000
60%
2500
Million NOK
3500
50%
2000
40%
1500
30%
1000
 Strong regional and national market
positions
 Focus on online growth from advertising
and digital subscription models
 Tight cost control in the print operations to
offset continuous print advertising decline
20%
14%
10%
10%
500
10%
0
0%
Jan-Sep
11
Jan-Sep
12
Offline revenues
Jan-Sep
13
Online revenues
EBITDA-margin
SEB COPENHAGEN 2014
17

18. Digital subscription models
launched in all newspapers
 Digital payment models are
launched for all titles in
Scandinavia
 Subscriptions to premium
content in VG and Aftonbladet
 Metered model in Aftenposten
 Freemium models in regionals
Example from Aftenposten:
Complete
Weekend
+ digital
Digital
 SPiD login used in all papers
 Positive response in the market
SEB COPENHAGEN 2014
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19. Mobile fuelled online advertising
growth continues
Mobile traffic soars, and…
+55%
 Mobile advertising revenues
3 100
+134% Y/Y in Q3
 Mobile ARPU +58% Y/Y in VG and
+40%
2 000
…mobile ARPU increases
2 100
Aftonbladet combined
 Schibsted controls the superior sites in
1 500
the Nordic mobile market
 Aftonbladet reaches 4 times as many
readers as its closest competitor in
Sweden
Q3 2012
Q3 2013
 VG reaches twice as many as its
closest competitor in Norway
Unique weekly visitors.
Source: TNS/KIA Index
SEB COPENHAGEN 2014
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20. Strategic steps in
2014
SEB COPENHAGEN 2014
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21. Strategic position 2014
Solid, broad digital
footprint in Scandinavia
A global leader in Online
classifieds with continued
strong growth prospects
However…
 Competition from global online companies
 For instance Google, Facebook, Linkedin, Ebay,
Amazon, Naspers
 Need for constant innovation and rapid product
development for instance on mobile platforms
 Require top competence in tech and data analytics
SEB COPENHAGEN 2014
21

22. Building joint competence and services
for both strategic pillars
Media Houses
Online Classifieds
New Online
Services
We aim to be the global number
1 in Online Classifieds
Advanced
data analytics
Seizing the digital growth
opportunity in core markets
Customer
insights
Payment
services
Powerful brands and digital platforms
reaching ever more readers
Technology
platforms
Organization &
Competence
SEB COPENHAGEN 2014
22

23. Global recruiting of new competence
within data analytics and technology
Pricing
Churn modelling
Conversion
Segmentation
Shared
technological
platforms
SEB COPENHAGEN 2014
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24. Creating a robust platform for
scalability and growth
Goal:
Investment in data analytics
and technology:
Fast, flexible and cost efficient innovation and
development processes,
NOK 100-150 million will affect our EBITDA in 2014
LOCALLY DEVELOPED
LOCALLY DEVELOPED
Example: SUBITO.IT
CLASSIFIEDS PLATFORM
Example: AFTENPOSTEN.NO
CORE PLATFORM
EDITORIAL PLATFORM
SEB COPENHAGEN 2014
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25. Building up web TV offering in
Norway and Sweden
Tapping in to a fast growing, large market potential
 Web TV advertising market 2013 NOK 540
Newsclips
million*
 Growth forecast +37% in 2014*
 Schibsted market share ~15-20% first nine
Acquired entertainment
months 2013
 Short term investment phase with negative
Talk shows
EBITDA of around NOK 50 million
Crime shows
Norway+Sweden web tv ad market forecast
+37%
736
Debates
2013
2014
*) Source: IRM
MNOK
538
SEB COPENHAGEN 2014
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26. Clear strategic direction
1
Targeting global leadership in Online Classifieds
2
Building world-class digital Media Houses
3
Investing in talent and technology for innovation
and growth
SEB COPENHAGEN 2014
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27. Q&A
SEB COPENHAGEN 2014
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