Europes leading partner in performance-based digital marketing – Improvement in the UK and stability in Southern Europe Interim report January-March 2010 Stockholm, 6 May 2010

Introduction – present in the meeting Urban Gillström, CEO and President Bernt Andersson, acting CFO Erik Skånsberg, CFO from May 24,

New CEO – TradeDoubler perspective 90 days to hit the ground running as new CEO What I have done until now Learning Market trips meeting many people Voice of the customer Management team changes – ways of working Actions to boost sales, gross profit and product development Operational excellence Key Insights 3

Outstanding reach in a growing market Off-line shift towards on-line Growth in the European on-line retail, transaction and search markets Broadband penetration and mobile (smart) phone usage Mobile marketing starting to expand Strong growth of social media usage 4 76 percent reach of the European internet users

Full scale integrated offering 5

Highlights - first quarter Demand for digital marketing improving – more customer requests Improvement in the UK and stable development in Southern Europe Many markets are improving in local currencies Strong impact from foreign exchange rates and big change in working capital due to normalization of payments Lower sales partly compensated by cost reductions 6

Overview financial results *The costs for the full-year 2009 included non-recurring items of SEK180 M, including impairment of goodwill of SEK 150 M, among other items. 7

Regional development Improvement in the UK and stable development in Southern Europe Improving results in local currencies 8

Margin development 9

Gross profit development Gross Profit (MSEK)Gross Profit in local currency (MSEK) 10

Operating cost development Operating costs (MSEK)Operating costs in local currency Q1 2010: - Including 9(4) MSEK costs relating to management changes and internal control projects - Number of employees 603 (602) 11

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Integration Agreement with Marin Software Complement and enhance TradeDoublers current Search solution Clients get full access to one of the most powerful search management platforms with over 180 customers who collectively manage in excess of $1 billion of annual search spend Integration completed during the second quarter 14

First quarter in perspective All regions generate positive EBITDA Improvement in the UK and stable development in Southern Europe Substantial impact of foreign exchange rates and large change in working capital Improved financial position Positive signs for the market of digital marketing New phase for the company 15

Key Priorities – profitable growth focus 1 Boost revenues and gross profit Operational excellence Continued focus on cost reductions and cash flow

Profitable growth focus 17

Questions

Urban Gillström, CEO and President T +46(0) | M +46 (0) E Bernt Andersson, Acting CFO T +46 (0) | M +46 (0) E tradedoubler.com Thank you! 19

Apppendix 20

Geographical segments Northern and Eastern EuropeCentral EuropeSouthern EuropeUK and Ireland FinlandDenmarkBelgiumUK LithuaniaPolandFranceIreland JapanGermanyItaly NorwaySwitzerlandNetherlands RussiaAustriaPortugal SwedenSpain 21