This document discusses MTG's position as a leading entertainment company. It highlights MTG's successful track record of growth over 10 years, with 11% sales CAGR and 15% EBIT CAGR. MTG has a unique and integrated business model across TV, digital, and different regions. It is focusing on content, digital delivery, and geographic expansion to continue driving long-term value creation. MTG is well-positioned for the future as online and mobile video consumption grows due to its large content library and platform-agnostic strategy.

1. MTG
JUNE 2014
SHAPING THE FUTURE OF ENTERTAINMENT

2. A UNIQUE
PLATFORM
A SUCCESSFUL
TRACK RECORD (10Y)
A BRIGHT FUTURE
THE STORY
A UNIQUE BUSINESS MODEL WITH A BRIGHT FUTURE
11% SALES CAGR
15% EBIT CAGR
27% ROCE (AVE.)
11% TSR CAGR
INTEGRATED &
DIVERSIFIED
TV EVERYWHERE &
FOR EVERYONE
DECENTRALIZED
RISING VIDEO
CONSUMPTION
CONTENT RICH
DIGITAL DELIVERY
& ENGAGEMENT
2

3. COST FOCUS & OPERATIONAL EXCELLENCE
GROWTH + VALUE CREATION
CONTENT DIGITAL GEO EXPANSION
LONG TERM VALUE CREATION
BASED ON CLEAR GROWTH STRATEGY
3 3

4. REVENUE SPLIT BY TYPE (2013) REVENUE SPLIT BY SEGMENT (2013)
28%
41%
31%
Emerging Markets Pay-TV Nordic Free-TV Scandinavia
44%
47%
9%
Advertising Subscription Other
A WELL-BALANCED GROUP
OUR INTEGRATED STRUCTURE IS A KEY USP
4

5. CONTENT REMAINS KING
AND WE ARE THE BIGGEST BUYER IN TOWN
879,470
481,800
394,200
297,840
236,520 210,240
0
100,000
200,000
300,000
400,000
500,000
600,000
700,000
800,000
900,000
1,000,000
MTG RTL Bonnier Mediaset CME Pro7
TOTAL NUMBER OF BROADCAST HOURS (2013)
SOURCE: MTG Research 5

6. LONG TERM PARTNERSHIPS
WITH RELEVANT CONTENT PROVIDERS
6

7. • Extended catch-up and preview on AVOD
• Longer license period for series on SVOD
• All devices allowed for distribution
• Temporary download for SVOD
• Increased runs on FTV features
• Conversion rights to allocate content best
• Spend allocation for platform of choice
• No extra costs on library films
• Volume discounts and fee removals
• Decrease on year-on-year escalation
THE NEW MODEL
DRIVING UTILIZATION & MONETIZATION
INCREASED CONTENT UTILIZATION CONTENT ACQUISITIONS FLEXIBILITY
7

8. Season 1-8
Available
24: LIVE ANOTHER DAY
CROSS-COLLABORATION
Season 9 US
Premiere
Exclusive
Premiere
24 hour
promotion
Premiere on
Free-TV
Available on
Catch-up
1 Month Before
US Premiere
US Premiere
1 Day after US
Premiere
1 Day Before
Free-TV Premiere
1 Week after
US Premiere
1 Day after
Free-TV Premiere
Premiere on 6 May attracted record number of daily users for an acquired
series – more than 2x number of users for any other acquired series ever!
8

9. SOURCE: Nielsen Cross Platform reports
Q3 ‘09
297296
TRADITIONAL TV
LIVE TV
TIME SHIFTED TV
Q3 ‘08
ONLINE/MOBILE VIDEO
ONLINE VIDEO
MOBILE VIDEO
Q3 ‘13
314
Q3 ‘12
314
Q3 ‘11
307
Q3 ‘10
306 +17%
CAGR
ONLINE/MOBILE
VIDEO
0.4%
CAGR
TRADITIONAL
VIDEO USAGE IS GROWING
ONLINE STILL VERY SMALL BUT GROWING QUICKLY
VIDEO USAGE IN THE USA – AVERAGE MINUTES PER DAY PER USER (2+)
9

10. WE ARE WELL POSITIONED
AS WE HAVE THE CONTENT YOU LOVE
10

11. WE ARE WELL POSITIONED
AS WE HAVE THE TV YOU LOVE
11

12. WE ARE WELL POSITIONED
AS WE HAVE THE SPORTS YOU LOVE
12

13. WE ARE WELL POSITIONED
AS WE HAVE THE GAMES YOU LOVE
13

14. 14
A SCALE CONTENT PLAYER
WE HAVE QUADRUPLED IN SIZE - NOW #1 IN THE NORDICS
with an EXPANDING emerging markets FOOTPRINT
and GLOBAL distribution CAPABILITY
14

15. TRACE is an international brand & media group with 15
successful pay-TV and digital platforms that are available in 160
countries including every single one in Africa
TRACE
THE NEXT BIG STEP IN AFRICA
15

16. HEALTHY GROWTH, HIGH
MARGINS, STRONG CASH
FLOW AND NO GEARING
SHAREHOLDER FRIENDLY
APPROACH WITH TOP>50%
CASH DIVIDEND PAY-OUT
REPRESENTS C. 20% OF
OUR MARKET CAP
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
0
50
100
150
200
250
300
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
OIBDA (excl. NRI) OIBDA (excl. NRI) margin
EBITDA / OIBDA (USDM)
HEALTHY RECOVERY POST FINANCIAL CRISIS
16

17.  STRONG TRACK RECORD – WE HAVE A PROVEN BUSINESS MODEL
 INTEGRATED AND DIVERSIFIED – BECOMING INCREASINGLY IMPORTANT
 PLATFORM AGNOSTIC – BECOMING THE INDUSTRY REALITY
 THE POWER OF TV IS STILL VERY STRONG
 CONTENT RICH IN A WORLD WITH RISING VIDEO CONSUMPTION
 MTG IS FIT FOR PURPOSE TODAY AND FUTURE PROOF FOR TOMORROW
SUMMARY
INVESTMENT CASE
17

18. MTG
JUNE 2014
SHAPING THE FUTURE OF ENTERTAINMENT