1. 1 Copyright © 2009 Pressline Services Inc.All Rights Reserved June 4, 2016 Information Contained In This Document Is Proprietary And Confidential And Relates To Proprietary Subject Matter Of Pressline Services, Inc. Release Of This Document And/Or The Information Contained Therein Other Than To Persons For Which It Is Required In Performance Of Their Duties On Behalf Of Pressline Services, Inc. Is Not Authorized Or Permitted. Reproduction Of The Document Or Construction Of Any Apparatus Based Thereon Is Expressly Prohibited Unless The Express Written Permission Of Pressline Services, Inc. For Such Activity Has Previously Been Obtained. Copyright © 2009 Pressline Services Inc. 3 Around Conversion

2. 2 Copyright © 2009 Pressline Services Inc.All Rights Reserved June 4, 2016 Why did The Columbus Dispatch want to re-invent the newspaper?  To bring the newspaper into the modern era  To create a fully sectioned newspaper with the compact feel of a tablet. The Columbus Dispatch

3. 3 Copyright © 2009 Pressline Services Inc.All Rights Reserved June 4, 2016 The Columbus Dispatch How did the reader feel about the new compact prototype?

4. 4 Copyright © 2009 Pressline Services Inc.All Rights Reserved June 4, 2016 The Columbus Dispatch Would readers discontinue their subscription if the format were to change?

5. 5 Copyright © 2009 Pressline Services Inc.All Rights Reserved June 4, 2016 The Columbus Dispatch Total Starts up 7% YOY; Voluntary up 38% YOY, averaging 1,115 per week Acquired a younger, more affluent audience than the traditional subscriber (compared to subscribers gained through other direct marketing efforts) Younger. 46% of those subscribers are between ages 18-39 More affluent. 58% have a HHI higher than $75K per year More likely to have children. Nearly half of the new subscribers have children compared to less than a third of our more tenured subscribers The Columbus Dispatch New Format Initial Sales Results:

6. 6 Copyright © 2009 Pressline Services Inc.All Rights Reserved June 4, 2016 The Columbus Dispatch Consumers: What They Are Saying

7. 7 Copyright © 2009 Pressline Services Inc.All Rights Reserved June 4, 2016 Imaging on a one around plate

8. 8 Copyright © 2009 Pressline Services Inc.All Rights Reserved June 4, 2016 Project Benefits ROI – DRIVERS  Gross Newsprint savings of 33% with compact product format: Current Cutoff 3V Cutoff 22.047” 14.698” 22.776” 15.184” 23.562” 15.708”  Additional newsprint savings realized by reducing web width to 44”: 50” to 44” = 12% 48” to 44” = 8% 46” to 44” = 4% (add 4% for 42” web)  Less press capacity required to produce same circulation  “Commercial” Newspaper printing opportunities including 7 ½” X 10 ½” tab size  Projected project payback of 2 to 4 Years depending on project scope

9. 9 Copyright © 2009 Pressline Services Inc.All Rights Reserved June 4, 2016 Project Benefits PRODUCTION BENEFITS  Straight mode production = 50% more output in same production window (9 webs maximum) 1-broadsheet web=8 pages 1-section per former board Current Output 3V Output 50k cphX 1.5=75k cph  Collect mode production (double collect vs. current collect) = 50% more paging and color capacity (3 webs maximum) 1-broadsheet web=24 pages3-balanced sections per former board Current Output 3V Output 50k/2= 25k cph75k/3 = 25k cph  Two double truck or Four single page-one around plates for simplified plate up and registration  Improved press flexibility by being able to retain existing and provide new 3V cutoff

10. 10 Copyright © 2009 Pressline Services Inc.All Rights Reserved June 4, 2016 Project Benefits PRODUCTION STRAIGHT MODEL 50% MORE SPEED  More through put – Less equipment  Less equipment – Less consumables, maintenance, utilities and press crews.  Shorter run times  Later deadlines  Print more products  Works well with sites that are use to running straight – offers current paging and color (max 9 webs) Works well with “one pass out the door” thinking

11. 11 Copyright © 2009 Pressline Services Inc.All Rights Reserved June 4, 2016 Project Benefits PRODUCTION COLLECT MODEL 50% MORE COLOR / SECTIONS  More color/sections with current equipment  Less webs (max 3 webs)  Less Equipment - Less consumables, maintenance, utilities and press crews.  Less capital dollars  All color press- May need some reconfiguration  Current collect speed Offers unique set of opportunities depending on run time required

12. 12 Copyright © 2009 Pressline Services Inc.All Rights Reserved June 4, 2016 INSTALLATION Pressline Services Areas of Focus:  Plate and blanket cylinders  Operator Side Folding couple with 3:4:5:5 Jaw folder  Imposition software Customer Areas of Focus:  CTP/Plate making equipment  Pickup stations thru post press  Gripper must go 50% faster Required

13. 13 Copyright © 2009 Pressline Services Inc.All Rights Reserved June 4, 2016 Web Layout 3 Web Full Color Capability: Straight -24 Pages  1-2-3-4 Sections Double Collect – 72 Pages  3-6-9-12 Sections

14. 14 Copyright © 2009 Pressline Services Inc.All Rights Reserved June 4, 2016 Folder Section Sequence

15. 15 Copyright © 2009 Pressline Services Inc.All Rights Reserved June 4, 2016 End Folder Module Specification Features  3-Part Knife Cylinder (A)  3-Part Pin/Cut Cylinder (B)  5-Part Double Collect Cylinder (C)  5-Part Jaw Cylinder (D)  Straight/Collect Delivery Fan and Table (Servo Controlled) (E) Operator Controls/Adjustments  Running Lap  Running Pin – (1st and 2nd Pin Cylinder)  Jaw Take  Straight/Collect Changeover A B C D E

16. 16 Copyright © 2009 Pressline Services Inc.All Rights Reserved June 4, 2016 End Folder Module Specification Type – 3:4:5:5 Jaw Double Collect Operating Limits: Page Count  4pg – 72pg Broadsheet (Straight/Double Collect)  8pg – 120pg Tabloid (Straight/Double Collect) Speed  90,000 cph Straight  30,000 cph Double Collect *Actual operating speeds subject to press capabilities and page counts near specification limits Paper Width Range  39.98” – 54.00”  Lap ±.79”

17. 17 Copyright © 2009 Pressline Services Inc.All Rights Reserved June 4, 2016 Units Features:  Modification required on Blkt Cyl #11  Modification required on Blkt Cyl #12

18. 18 Copyright © 2009 Pressline Services Inc.All Rights Reserved June 4, 2016 Cylinder Comparison

19. 19 Copyright © 2009 Pressline Services Inc.All Rights Reserved June 4, 2016 3-Color Units