1. Schibsted Media Group Budapest 12 July 2011 Rolv Erik Ryssdal, CEO

2. Bullet-textslide with picture Header, max two lines Text: Click on ’Increase Indent’ for changing Bullet-level To get back, click on ’Decrease Indent’ Agenda  Overview  Online classifieds  Media Houses

3. Bullet-textslide Header, max two lines Text: Click on ’Increase Indent’ for changing Bullet-level To get back, click on ’Decrease Indent’ Turn off ’CLASSIFICED’ via 1. ’Insert’ / ’Header & Footer’ 2. Deactivate by clicking off the Footer Checkbox 3. Check ’Apply to All’  Leading positions in print and online media Norway, Sweden and international 3 Our two strategic pillars … Media Houses Online classifieds  Leader in fast growing online marketplaces

4. Bullet-textslide Header, max two lines Text: Click on ’Increase Indent’ for changing Bullet-level To get back, click on ’Decrease Indent’ Turn off ’CLASSIFICED’ via 1. ’Insert’ / ’Header & Footer’ 2. Deactivate by clicking off the Footer Checkbox 3. Check ’Apply to All’ Revenue split Q1 2011 Total revenue MNOK 3,496 4 35% online revenues

5. Bullet-textslide Header, max two lines Text: Click on ’Increase Indent’ for changing Bullet-level To get back, click on ’Decrease Indent’ Turn off ’CLASSIFICED’ via 1. ’Insert’ / ’Header & Footer’ 2. Deactivate by clicking off the Footer Checkbox 3. Check ’Apply to All’ Q1 2011 highlights Revenue Q1 2011 EBITDA margin Q1 11 Q1 10 Underlying Growth y/y* *) Growth adjusted for acquisitions, divestments and currency fluctuations 5

6. Bullet-textslide with picture Header, max two lines Text: Click on ’Increase Indent’ for changing Bullet-level To get back, click on ’Decrease Indent’ Agenda  Overview  Online classifieds  Media Houses

7. Continued strong growth and margin improvement *) Underlying growth, adjusted for currency effects, acquired/divested operations. Online classifieds MNOK +28%* 7

8. Established European footprint combined with growth opportunities Highly profitable #1 positions Norway Sweden France Spain All verticals Cars + general Jobs General Real estate Cars Operations in Established phase Operations in Investment phase Online classifieds 8 Revenue Q1 2011 EBITDA margin MNOK 27747% MNOK 14256% MNOK 29039%

9. Bullet-textslide Header, max two lines Text: Click on ’Increase Indent’ for changing Bullet-level To get back, click on ’Decrease Indent’ Turn off ’CLASSIFICED’ via 1. ’Insert’ / ’Header & Footer’ 2. Deactivate by clicking off the Footer Checkbox 3. Check ’Apply to All’ Very attractive economics in online classifieds – but you need to become #1! Sources: Margin: Company reports and presentations Size vs #2:Pageviews(AdPlanner), active objects where applicable, company presentations. EBITDA 2010 100% 0% 5–30% 30–50% 50–70% Size versus second player EBITDA margin High margins for players that are much larger than #2 9

10. Bullet-textslide Header, max two lines Text: Click on ’Increase Indent’ for changing Bullet-level To get back, click on ’Decrease Indent’ Turn off ’CLASSIFICED’ via 1. ’Insert’ / ’Header & Footer’ 2. Deactivate by clicking off the Footer Checkbox 3. Check ’Apply to All’ 10 Our established sites are doing their job very well Norway (Finn.no) 47% MNOK Sweden (Blocket/Bytbil) 56% MSEK International (Spain + France) 39% MEUR 42%60%37% +14%+31%+28%

11. Bullet-textslide Header, max two lines Text: Click on ’Increase Indent’ for changing Bullet-level To get back, click on ’Decrease Indent’ Turn off ’CLASSIFICED’ via 1. ’Insert’ / ’Header & Footer’ 2. Deactivate by clicking off the Footer Checkbox 3. Check ’Apply to All’  The well proven Blocket concept is exported into new markets  Leboncoin.fr in France first launch in 2006 Today, a top 3 online site in France and by far the largest classifieds site  Present in approx 20 countries outside Sweden  Investments in new markets will amount to NOK 300-400 in 2011  The investment portfolio performs well 11 Investments in growth in new territories commentcamarche.net160 000 000 pagesjaunes.fr310 000 000 msn.com720 000 000 free.fr880 000 000 yahoo.com1 400 000 000 live.com2 000 000 000 youtube.com3 600 000 000 orange.fr5 900 000 000 leboncoin.fr6 000 000 000 facebook.com40 000 000 000 Top 10 Sites, France Page Views, March

12. Bullet-textslide Header, max two lines Text: Click on ’Increase Indent’ for changing Bullet-level To get back, click on ’Decrease Indent’ Turn off ’CLASSIFICED’ via 1. ’Insert’ / ’Header & Footer’ 2. Deactivate by clicking off the Footer Checkbox 3. Check ’Apply to All’ Page Views / Month, Doubleclick Ad Planner Willhaben catching up with ebay.at Expected to reach break even in Q4 11 or Q1 12 Austria

13. Bullet-textslide Header, max two lines Text: Click on ’Increase Indent’ for changing Bullet-level To get back, click on ’Decrease Indent’ Turn off ’CLASSIFICED’ via 1. ’Insert’ / ’Header & Footer’ 2. Deactivate by clicking off the Footer Checkbox 3. Check ’Apply to All’ Subito catching up with ebay.it Page Views / Month, Doubleclick Ad Planner Expected to reach break even in Q4 11 or Q1 12 Italy

14. Bullet-textslide Header, max two lines Text: Click on ’Increase Indent’ for changing Bullet-level To get back, click on ’Decrease Indent’ Turn off ’CLASSIFICED’ via 1. ’Insert’ / ’Header & Footer’ 2. Deactivate by clicking off the Footer Checkbox 3. Check ’Apply to All’ CustoJusto catching up with OLX.pt Page Views / Month, Doubleclick Ad Planner Portugal

15. Bullet-textslide Header, max two lines Text: Click on ’Increase Indent’ for changing Bullet-level To get back, click on ’Decrease Indent’ Turn off ’CLASSIFICED’ via 1. ’Insert’ / ’Header & Footer’ 2. Deactivate by clicking off the Footer Checkbox 3. Check ’Apply to All’ Online classifieds generate very high traffic in well developed markets gulesider.no34 000 000 aftenposten.no50 000 000 finn.no890 000 000 facebook.com3 700 000 000 msn.com81 000 000 nrk.no81 000 000 dagbladet.no110 000 000 startsiden.no120 000 000 vg.no160 000 000 live.com170 000 000 swedbank.se550 000 000 youtube.com960 000 000 blocket.se1 100 000 000 facebook.com7 200 000 000 blogspot.com61 000 000 hitta.se61 000 000 eniro.se67 000 000 msn.com210 000 000 aftonbladet.se280 000 000 live.com490 000 000 yahoo.com1 400 000 000 live.com2 000 000 000 youtube.com3 600 000 000 orange.fr5 900 000 000 leboncoin.fr6 000 000 000 facebook.com40 000 000 000 commentcamarche.net160 000 000 pagesjaunes.fr310 000 000 msn.com720 000 000 free.fr880 000 000 Top 10 Sites, Norway Page Views, March Top 10 Sites, Sweden Page Views, March Top 10 Sites, France Page Views, March Source all figures: Doubleclick Ad Planner, March 2011 Google.com/adplanner – List by audience 15

16. Bullet-textslide with picture Header, max two lines Text: Click on ’Increase Indent’ for changing Bullet-level To get back, click on ’Decrease Indent’ Agenda  Overview  Online classifieds  Media Houses

17. Improvement for morning newspapers, challenging volume development for tabloids *) Underlying growth, adjusted for currency effects, acquired/divested operations. Note: 2009 and 2010 figures are from Business Areas Media Houses Scandinavia/International. Media Houses MNOK +3%* 17

18. Bullet-textslide Header, max two lines Text: Click on ’Increase Indent’ for changing Bullet-level To get back, click on ’Decrease Indent’ Turn off ’CLASSIFICED’ via 1. ’Insert’ / ’Header & Footer’ 2. Deactivate by clicking off the Footer Checkbox 3. Check ’Apply to All’ 18 Key subsidiaries in Media Houses Scandinavia RevenueEBITDA Online share of revenue EBITDA margin MNOK 1,161MNOK 15013%5% MNOK 447MNOK 5613%18% MNOK 458MNOK 317%22% MNOK 249MNOK 208%4% Schibsted ”Growth media” MNOK 117MNOK 54%100% Sweden Norway Q1 2011 figures

19. Bullet-textslide Header, max two lines Text: Click on ’Increase Indent’ for changing Bullet-level To get back, click on ’Decrease Indent’ Turn off ’CLASSIFICED’ via 1. ’Insert’ / ’Header & Footer’ 2. Deactivate by clicking off the Footer Checkbox 3. Check ’Apply to All’ 19 Paid for tablet versions launched in June 2011, after free test period Subscription based Approx 40,000 NOK 239/month for iPad only subscription NOK 49/month as add on to print subscription NOK 263/month for print only subscription Print Newspaper type iPad App downloads Prices Single copy Approx 80,000 50-100/month or approx NOK 1.70-3.30/day for iPad only subscription NOK 12/day for single copy print newspaper Planned launch in June 11

20. Maintained high total reach during digital shift Daily readership (‘000) 1,184 (57%) 435 (21%) 449 (22%) 1,407 (56%) 313 (12%) 801 (32%) Daily readership (‘000) 2010 2,068 2010* 2,522 1,2% Mobile 5,6% Mobile Source: Source: TNS Gallup, Orvesto ¹ From 2007 from Internet survey * Orvesto

21. Bullet-textslide Header, max two lines Text: Click on ’Increase Indent’ for changing Bullet-level To get back, click on ’Decrease Indent’ Turn off ’CLASSIFICED’ via 1. ’Insert’ / ’Header & Footer’ 2. Deactivate by clicking off the Footer Checkbox 3. Check ’Apply to All’ Supreme market positions online Sweden Source: TNS Gallup, Kiaindex Note: Week 18 of 2011 Norway 21 Share of Top 25 Norway: 28% Share of Top 25 Norway: 28% Share of Top 25 Sweden: 44% Share of Top 25 Sweden: 44% Q1 2011

22. Media Houses Scandinavia  New businesses fuelled by the strong traffic machines Schibsted controls in Sweden  A similar operation, Schibsted Vekst, is launched in Norway The value of traffic 22 Q1 2011

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