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2014Investor Presentation

Cautionary Statement Concerning Forward-Looking Statements andNon-GAAP Financial Measures

2

This presentation contains forward-looking statements, including those relating to our capital needs, business strategy, expectations and intentions. Statements thatuse the terms “believe”, “anticipate”, “trend”, “expect”, “plan”, “estimate”, “forecast”, “intend” and similar expressions of a future or forward-looking nature identifyforward-looking statements for purposes of the U.S. federal securities laws or otherwise. For these statements and all other forward-looking statements, we claim theprotection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.

Forward-looking statements are inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy or are otherwise beyond our controland some of which might not even be anticipated. Forward-looking statements reflect our current views with respect to future events and because our business issubject to such risks and uncertainties, actual results, our strategic plan, our financial position, results of operations and cash flows could differ materially from thosedescribed in or contemplated by the forward-looking statements contained in this report.

Important factors that contribute to such risks include, but are not limited to, those factors set forth under "Risk Factors” as well as the following: the success of ourefforts to increase our revenues and recapture advertising market share in the Czech Republic; levels of television advertising spending and the rate of developmentof the advertising markets in the countries in which we operate; the effect of the global economic slowdown and Eurozone instability in our markets and the extentand timing of any recovery; the extent to which our liquidity constraints and debt service obligations restrict our business; our ability to refinance our existing indebtedness;our exposure to additional tax liabilities; our success in continuing our initiatives to diversify and enhance our revenue streams; our ability to make cost-effectiveinvestments in television broadcast operations, including investments in programming; our ability to develop and acquire necessary programming and attract audiences;changes in the political and regulatory environments where we operate and application of relevant laws and regulations; and the timely renewal of broadcastinglicenses and our ability to obtain additional frequencies and licenses.

The foregoing review of important factors should not be construed as exhaustive and should be read in conjunction with other cautionary statements that are includedin our filings. For a more detailed description of these uncertainties and other features, please see the “Risk Factors” section in our most recent Annual Report onForm 10-K filed with the U.S. Securities and Exchange Commission. Forward-looking statements speak only as of the date on when they were made and we undertakeno obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise.

Non-GAAP Financial Measures

CME reports its results in accordance with generally accepted accounting principles in the United States (“GAAP”). However, management believes that certain non-GAAP performance measures used in managing the business may provide meaningful information about underlying trends in our business. Non-GAAP financialmeasures should be viewed in addition to, and not as an alternative for, CME’s reported results prepared in accordance with GAAP. Please see the attached FinancialReview appendix for a reconciliation to the most directly comparable GAAP financial measures. OIBDA, which includes amortization and impairment of programrights, is determined as operating income before depreciation, amortization of intangible assets and impairments of assets and certain unusual or infrequent itemsthat are not considered by our chief operating decision makers when evaluating our performance.

CME is a Leading Television Broadcaster in CEE

Combined population: approx. 50 mCombined TV ad market size: approx. $908m

CME markets

Source: IMF 2014 (GDP/Capita), CSU (Population Czech Republic), National Institute of Statistics (Population Romania), TNS (Population Slovak Republic), National Statistical Institute (Population Bulgaria), Statistical Bureau of Republic of Slovenia (Population Slovenia), Croatian Bureau of Statistics (Croatia)

3

Source: 2014 CME estimates

TV ad market size by geography

Czech Republic $308m

Romania$199m

SlovakRepublic$126m

Croatia$101m

Slovenia$67m

Bulgaria$107m

4

• Maintaining or increasing our audience and advertising marketshares in all of our markets

• Leveraging popular content

• Driving growth in advertising revenues through our pricingstrategies

• Optimizing content costs through the most efficient use of ourprogramming library and reducing the cost of foreignprogramming, while safeguarding our brands and competitivestrengths

• Maintaining a strict cost discipline by controlling other expenses

Management's Operating Priorities

Audience Performance Overview

5Variance in percentage points

1 Source: Local TV data providers (see Segment Performance slides). All shares in main channel sales target group.

2013 2014

FY All Day Audience Share

50%40%30%20%10%

0%

Bulgaria Croatia Czech Republic Romania Slovak Republic Slovenia

33.8% 27.8% 36.2%25.3%

34.1% 38.2%34.7% 27.3%36.2%

24.9% 33.0% 35.1%

2013 2014

FY Prime Time Audience Share

60%50%40%30%20%10%

0%


38.2% 33.5% 41.2% 30.9% 36.8% 46.9%39.1% 34.5% 40.8%30.3% 35.3% 43.5%

+0.9 -0.5

+0.0

+1.7 -1.1 -3.1

+0.9

-0.4

+0.0+1.0 -0.4 -0.6 -1.5 -3.4

5

Q4 Audience Performance Overview

2013 2014

Q4 All Day Audience Share

50%40%30%20%10%

0%


34.2% 26.9%37.1%

25.0%35.5% 41.0%37.0% 28.8% 36.4%

24.2%33.5% 36.6%

2013 2014

Q4 Prime Time Audience Share

60%50%40%30%20%10%

0%


37.8% 31.6% 41.3%30.1% 38.7%

51.3%40.9% 37.7% 40.9%29.9% 36.2% 45.0%

1 Source: Local TV data providers (see Segment Performance slides). All shares in main channel sales target group.

+2.8+1.9 -0.7 -0.8

-2.0-4.4

+3.1+6.1

-0.4-0.2

-2.5 -6.3

Variance in percentage points

7

Historically High Power Ratios

Our strong content and leadership positions enable us to generate more revenues from TV advertising

Sources: TNS and GARB (Bulgaria), ATO Mediaresearch (Czech Republic), AGB Nielsen Media Research (Croatia), Kantar Media (Romania), PMT TNS (Slovak Republic) and AGBNielsen Media Research (Slovenia) for audience share; CME estimates for market share.

100%

80%

60%

40%

20%

0%

100%

80%

60%

40%

20%

0%

100%

80%

60%

40%

20%

0%

2012 All Day Audience Share andMarket Share


Audience shareMarket sharePower ratio

The power ratio indicates a company’s ability to convert ratings to revenue

= /

Bulgaria Croatia Czech Romania Slovak Slovenia Republic Republic



1.6x 1.9x 1.9x 2.5x 2.0x 1.9x 1.7x 2.0x 1.4x 2.4x 1.8x 2.0x 1.6x 2.0x 2.0x2.5x1.6x 2.2x


Increasing Carriage Fees and Subscription Revenues

Increases in carriage fee revenues reflects the strength of our channels.

▪ In 2013 we concluded key carriage fees deals in Bulgaria and Romania which resulted in increased carriage fees and subscription

revenues in 2014 compared to the previous year.

▪ In Bulgaria carriage fees and subscription revenues now represent 23% of total country net revenues while in Romania it represents

26%.

8

2012 Total: US$ 43.4 2013 Total: US$ 59.0 2014 Total: US$ 80.5

Year ended 2012 - 201450

40

30

20

10

0

(US$

m)


8

1

11

20

13

16

2

11

25

14

20

2

8

46

14

9

Questions and Answers

What are the macro-economic trends?

Real GDPYear-over-Year Change Rate CME 2014F Average: 2.0%

Source: Eurostat, 2014 CME estimates based on market consensus Erste, JPM,Deutsche Bank, The Economist, Citi, OECD, IMF, Unicredit).

2011 2012 2013

Total TV Ad Market (nominal)Year-over Year Change Rate, % CME 2014 Average: 3.1%

2011 2012 2013Source: CME internal estimates at constant currency exchange rates

Real Private Consumtion Year-over-Year Change Rate, % CME 2014F Average: 1.9%

2011 2012 2013Source: Eurostat, 2014 CME estimates based on market consensus Erste, JPM, Deutsche Bank,The Economist, Citi, OECD, IMF, Unicredit).Note: Consensus analyst forecast and estimates are subject to change and comparative data maydiffer from those previously published. * Romania market excludes Moldova.

2011 2012 2013 2011 2012 2013

Consumer Price IndexAverage Year-over-Year Change Rate,% CME 2014F Average: 0.3% 0.3% 0.3%

Source National Statistical Offices.

Czech Republic

Romania* SlovakRepublic

Bulgaria Slovenia Croatia

10

5

0

-5

-10

-15

(5)%(6)%

(1)%

(7)%(7)%

(10)% (10)%

(2)%

(9)%

1%

(7)%

(4)%

6% 5% 4%

(3)%

(6)%

4%

5

4

3

2

1

0

-1

-2

3% 3%

4%

3% 3%

4%

1%

4%

1% 1%

2% 2%

0%

1%

0%

(1)%

0% 0%

2012 2013 2014

2011 2012 2013 2012 2013 2014

CME Total

4

3

2

1

0

-1

-2

-3

-4

(1)%

1%

2%

1%

(3)%

(2)%

(1)%

3%

1% 1%

(1)%(1)%

2%

3%

2% 2%

1%

0%

6

4

2

0

-2

-4

-6

(2)%

1%

(1)%

4%

(3)%(3)%

0%1%

(1)%(2)%

(4)%

(1)%

1%

4%

2% 2%

0% 0%

10

2012 2013 2014

2012 2013 2014

What is your multichannel philosophy?

11

39 336

Main generalentertainmentTV channels

6 5 4

Otherthematic TVchannels

7

26

What is the leading advertising medium in your markets?

Split of advertising expenditure among different media in CME markets

Source: Group M, December 2014.

TV continues to have the broadest reach and capture the highest share of advertisingbudgets in our markets.

12

TV Internet Print Other

100%

80%

60%

40%

20%

0%2006 2007 2008 2009 2010 2011 2012 2013 2014

47% 49% 51% 49% 50% 52% 52% 52% 53%5%6%

7% 9% 10%11% 13% 15%

17%

32% 29% 25% 23% 22% 20% 19% 18% 16%

16% 16% 17% 19% 18% 17% 16% 15% 14%

2014 Total ad spend per capita and ad intensity

500

400

300

200

100

0

$72.0$51.9 $44.9 $41.5

$25.1 $15.1$35.7

$342.0

There is significant room for convergence in our markets

What is the convergence potential of CME’s markets?

Source: IMF, Group M December 2014 and CME estimates.Developed markets are a combined group of 11 countries from within the European Union, predominantly in Western Europe, and the United States.

13

Czech Republic Slovenia Croatia Slovak Republic Bulgaria Romania CME average Developed markets averageAd intensity is the ratio of total ad spend to GDP.

0.40% 0.22% 0.35% 0.23% 0.34% 0.15% 0.28%

0.73%

Ad intensity

US$

How is television distributed in CME’s markets?

1 Sources: BeMedia (Bulgaria), Mediaresearch (Czech Republic), Croatian Bureau of Statistics (Croatia), OTVY (Romania), TNS (Slovak Republic) and OTVY (Slovenia).2 CME estimates for the penetration of the primary source of viewing of TV households for 2014 based on country data available. ³ Refers to analogue terrestrial since the transition to DTT is not complete.

Multichannel penetration is increasing as new technologies develop

Households1Penetration 20142

DTT DTH Cable IPTV

Bulgaria 2.9 million 15% 35% 45% 3%

Croatia 1.5 million 56% 7% 13% 25%

CzechRepublic 4.3 million 51% 26% 21% 2%

Romania 7.2 million 4%³ 25% 70% -

SlovakRepublic

1.7 million 9% 48% 29% 14%

Slovenia 0.8 million 16% 4% 41% 39%

14

What are the leading programs in CME’s markets?

15

37%

42%

27%

32%

38%35%

26%23%

25%

31%

21%

15%

26% 27%24% 25% 35%

32%28%

22%27%

30% 30%33%

36%

29% 30% 29%

35%32%

28%

36%45%

37% 37%35%

54%

31%

24% 24%

30%35% 37%

53%

The Street Rose Garden Village Criminal Unit Medical Doctors Angel

Las Fierbinti The Voice Masterchef Extreme

Blind Love Taste of Love Farm Cupboard

Turkish Survivor Pay it The Voice Series Forward

Restaurant Got Talent Confirmed Looking for a boss

No Matter What Crazy, Confused Your Face Sounds Normal Familiar

2013 Fall actual audience share for the same program or time slot. 2014 Fall actual audience share for the program. Data Source: Local TV data providers; All audience shares in main channels sales target group.

Makeover

16

Segment Review

45

40

35

30

41.2 40.8

17

Czech Republic: 2014 performance

2014 Financials

US$ m 2013 2014 % Act % Lfl¹

TV advertising revenues 153.6 184.4 20.0 % 28.9 %

Carriage fees &subscription revenues 11.2 7.7 (31.7)% (27.4)%

Other revenues 10.1 10.7 6.7 % 15.2 %

Net revenues 174.9 202.8 15.9 % 24.5 %

Total costs 184.5 140.8 (23.7)% (18.4)%

OIBDA (9.6) 62.0 NM² NM²

-0.440

38

36

34

32

30

36.2 36.2

+0.0

Q4

53% 57% 58% 60% 61%

2013 2014

Prima Group: 29%

CME Group: 60%

CT Group: 4%

Others: 7%

2013 2014

Prime Time Audience ShareAudience Share

All Day Audience Share

TV Ad Market Share 2014 TV Ad Market Share Market Share

Q1 Q2 Q3 Q4

¹ Like for-Like currency variance reflects the impact of applying the current period averageexchange rates to the prior period revenues and costs.² Number is not meaningful.

Source: ATO-Media research (all audience share and leadership data is for the 15-54 targetgroup). TV ad market share represents CME’s internal estimates.

35

30

25

20

30.9 30.3

18

Romania: 2014 performance

2014 Financials

US$ m 2013 2014 % Act % Lfl¹


Carriage fees &subscription revenues 24.8 45.9 84.9 % 87.0 %

Other revenues 17.9 7.0 (60.7)% (60.8)%

Net revenues 162.3 178.6 10.0 % 11.1 %

Total costs 159.8 141.3 (11.6)% (10.1)%

OIBDA 2.5 37.3 NM² NM²

-0.635

30

25

20

25.3 24.9

-0.4

Q4

60% 61% 61% 63% 63%

2013 2014

Intact Group: 23%

CME Group: 62%

Prima Group : 4%

Others: 5%

2013 2014




Kanal D: 6%

Q1 Q2 Q3 Q4


Source: Kantar Media (all audience share and leadership data is for the 18-49 Urban targetgroup). TV ad market share represents CME’s internal estimates.

40

38

36

34

32

30

36.8

35.3

19

Slovak Republic: 2014 performance

2014 Financials

US$ m 2013 2014 % Act % Lfl¹


Carriage fees &subscription revenues 1.1 1.0 (11.4)% (11.1)%

Other revenues 3.1 4.2 37.5 % 36.7 %

Net revenues 82.4 90.6 9.9 % 11.0 %

Total costs 102.3 86.0 (15.9)% (14.5)%

OIBDA (19.9) 4.6 NM² NM²

-1.540

38

36

34

32

30

34.133.0

-1.1

Q4

65% 69% 67% 70%64%

2013 2014

Other: 2%

CME Group: 67%

JOJ Group: 31%

2013 2014




Q1 Q2 Q3 Q4

¹ Like for-Like currency variance reflects the impact of applying the current period averageexchange rates to the prior period revenues and costs.

Source: PMT / TNS SK (all audience share and leadership data is for the 12-54 target group).TV ad market share represents CME’s internal estimates.

45

40

35

30

38.239.1

20

Bulgaria: 2014 performance

2014 Financials

US$ m 2013 2014 % Act % Lfl¹

TV advertising revenues 65.6 61.5 (6.3)% (5.7)%


Other revenues 5.7 5.8 1.9 % 3.3 %

Net revenues 87.4 87.1 (0.4)% 0.2 %

Total costs 74.0 77.7 4.9 % 4.7 %

OIBDA 13.4 9.4 (30.1)% (26.2)%

+0.945

40

35

30

33.834.7

+0.9

Q4

61%54% 56% 56%

61%

2013 2014

Others: 6%

CME Group: 57%

BNT Group: 3%

MTG Group: 34%

2013 2014




Q1 Q2 Q3 Q4


Source: GARB (all audience share and leadership data is for the 18-49 target group).TV ad market share represents CME’s internal estimates.

50

45

40

35

30

46.9

43.5

21

Slovenia: 2014 performance

2014 Financials

US$ m 2013 2014 % Act % Lfl¹

TV advertising revenues 57.1 52.4 (8.1)% (7.5)%


Other revenues 5.7 4.8 (15.6)% (14.1)%

Net revenues 66.7 61.4 (7.9)% (7.2)%

Total costs 57.4 56.1 (2.4)% (2.1)%

OIBDA 9.3 5.3 (42.4)% (40.2)%

-3.450

45

40

35

30

38.2

35.1

-3.1

Q4

81% 79% 76% 73%81%

2013 2014

Others: 2%

CME Group: 77%

2013 2014




Q1 Q2 Q3 Q4

Pink SI: 1%

State TV Group: 14%

Planet TV Group: 6%


Source: AGB Nielsen Media Research (all audience share and leadership data is for 18-54 targetgroup. TV ad market share represents CME’s internal estimates.

40

35

30

25

20

33.5 34.5

22

Croatia: 2014 performance

2014 Financials

US$ m 2013 2014 % Act % Lfl¹



Other revenues 5.5 3.8 (31.0)% (30.9)%

Net revenues 61.9 62.0 0.3 % 1.5 %

Total costs 53.6 54.2 1.1 % 2.1 %

OIBDA 8.3 7.8 (5.1)% (2.7)%

+1.040

35

30

25

20

27.8 27.3

-0.5

Q4

56% 56% 53% 57% 56%

2013 2014

HTV Group: 8%

CME Group: 55%

RTL Group: 37%

2013 2014

Audience Share


All Day Audience Share Prime Time Audience Share

Q1 Q2 Q3 Q4


Source: AGB Nielsen Media Research (all audience share and leadership data is for the 18-54target group). TV ad market share represents CME’s internal estimates.

23

Financial Review

2014 Revenues by Segment

US$ m

Net Revenues

2013 2014

Variance

Actual % Lfl %1

Bulgaria 87.4 87.1 (0.4)% 0.2 %

Croatia 61.9 62.0 0.3 % 1.5 %

Czech Republic 174.9 202.8 15.9 % 24.5 %

Romania 162.3 178.6 10.0 % 11.1 %

Slovak Republic 82.4 90.6 9.9 % 11.0 %

Slovenia 66.7 61.4 (7.9)% (7.2)%

Intersegment revenues (2.5) (1.6) NM² NM²

Total net revenues 633.1 680.8 7.5 % 10.4 %

¹ Like-for-Like currency variance reflects the impact of applying the current period average exchange rates to the prior period revenues.² Number is not meaningful.

The percentage growth figures have been derived from data included in our Form 10-K for the year ended December 31, 2014.

24

2014 OIBDA by Segment

US$ mOIBDA

2013 2014Variance

Actual % Lfl %1

Bulgaria 13.4 9.4 (30.1)% (26.2)%

Croatia 8.3 7.8 (5.1)% (2.7)%

Czech Republic (9.6) 62.0 NM2 NM2

Romania 2.5 37.3 NM2 NM2

Slovak Republic (19.9) 4.6 NM2 NM2

Slovenia 9.3 5.3 (42.4)% (40.2)%

Eliminations 0.0 0.0 NM2 NM2

Operations sub-total 3.8 126.3 NM2 NM2

Central costs (52.3) (30.9) 40.9 % 39.1 %

Total (48.4) 95.4 NM2 NM2

¹ Like-for-Like currency variance reflects the impact of applying the current period average exchange rates to the prior period revenues and costs.² Number is not meaningful.


See also OIBDA reconciliation on slide 36.

25

Q4 2014 Revenues by Segment

26



US$ m

Net Revenues

Q4 2013 Q4 2014

Variance

Actual % Lfl %1

Bulgaria 28.9 26.2 (9.3)% (0.8)%

Croatia 21.0 18.1 (13.8)% (5.5)%

Czech Republic 64.1 66.4 3.5 % 18.2 %

Romania 52.0 55.1 6.1 % 15.2 %

Slovak Republic 30.2 30.5 1.0 % 10.5 %

Slovenia 23.2 19.9 (14.3)% (6.1)%

Intersegment revenues (0.2) (0.1) NM² NM²

Total net revenues 219.3 216.2 (1.4)% 9.0 %

Q4 2014 OIBDA by Segment

27



See also OIBDA reconciliation on slide 36.

US$ mOIBDA

Q4 2013 Q4 2014

Variance

Actual % Lfl %1

Bulgaria 10.4 4.3 (58.3)% (54.6)%

Croatia 4.7 2.9 (38.9)% (33.5)%

Czech Republic (0.4) 28.9 NM2 NM2

Romania (1.2) 16.3 NM2 NM2

Slovak Republic (9.6) 6.8 NM2 NM2

Slovenia 7.2 5.6 (22.5)% (15.0)%

Eliminations 0.0 (0.4) NM2 NM2

Operations sub-total 10.9 64.3 NM2 NM2

Central costs (12.5) (9.2) 26.8 % 21.3 %

Total (1.6) 55.1 NM2 NM2

Summary Consolidated Statements of Operations

28

US$ mYear ended

December 31,2013 2014

Net revenues 633.1 680.8Content costs 422.1 358.4Other operating costs 104.5 85.5Depreciation and amortization 51.9 45.2Selling, general and administrative costs 136.4 143.6Impairment charge 79.7 —Restructuring costs 18.5 9.9Operating (loss) / income (180.0) 38.3Net interest expense (111.2 ) (141.7)

Loss on extinguishment of debt (23.1) (39.2)Foreign currency gain / (loss) net 20.2 (12.8)Change in FV of derivatives 0.1 2.3Other (expense) / income (0.4) 0.3Credit for income taxes 18.0 1.4Loss from continuing operations (276.4) (151.5)Loss from discontinued operations, net of tax (5.1) (80.4)Net loss (281.5) (231.9)Net loss attributable to noncontrolling interests 3.9 4.5

Net loss attributable to CME Ltd. (277.7) (227.4)

Net loss attributable to CME Ltd. per share (2.27) (1.66)Please refer to our Form 10-K for the year ended December 31, 2014 for the full financial statements and related notes and disclosures.

29

Consolidated Revenues by Type

Please refer to our Form 10-K for the period December 31, 2014 for the full financial statements and related notes and disclosures.

US$ m Year ended December 31,

2013 2014

TV advertising revenues 528.8 565.6

Carriage fees & subscription revenues 59.0 80.5

Other revenues 45.4 34.7

Net revenues 633.1 680.8

US$ mAs at

December 31,2013

As atDecember 31,

2014Current assets 410.3 345.0Assets held for sale 117.0 29.9Total Current assets 527.3 374.9Non-current assets 1,434.6 1,244.5

Total assets 1,961.9 1,619.4Current liabilities 293.2 439.9Liabilities held for sale 29.5 10.6

Non-current liabilities 990.3 667.7

Total liabilities 1,313.0 1,118.2Series B Convertible Redeemable Preferred Stock 207.9 223.9CME Ltd. shareholders' equity 440.1 279.8Noncontrolling interests 0.9 (2.6)Total liabilities and equity 1,961.9 1,619.4

Cash & cash equivalents 102.3 34.3Gross debt1 (977.6) (1,066.0)

Net debt (875.3) (1,031.7)

30

¹ Gross debt is the full face value of all outstanding debt.Please refer to our Form 10-K for the year ended December 31, 2014 for the full financial statements and related notes and disclosures.

Summary Consolidated Balance Sheet

Summary Cash Flow

31

US$ mYear ended December 31,

2013 2014Net cash used in operating activities (61.1) (65.2)

Net cash used in investing activities (29.8) (28.5)

Net cash provided by financing activities 59.2 39.0

Net cash used in discontinued operations (2.2) (2.6)

Impact of exchange rate fluctuations (0.4) (10.7)

Net decrease in cash and cash equivalents (34.2) (68.0)

Net cash used in operating activities (61.1) (65.2)

Capex additions, net of disposals (29.8) (28.5)

Free cash flow (90.9) (93.7)

Supplemental disclosure of cash flow information:Cash paid for interest 108.3 76.2Cash paid for income taxes, net of refunds 6.5 (2.2)

Please refer to our Form 10-K for the year ended December 31, 2014 for the full financial statements and related notes and disclosures.

Debt Maturity Profile and Free Cash Flow

32

Components of free cash flow (US$ m) Year ended 2013 Year ended 2014 Variance

OIBDA (48) 95 143Change in working capital 36 (11) (47)Interest, taxes, and other (108) (71) 37Net investment in programming 59 (78) (137)Capex (30) (29) 1Total (91) (94) (3)

2015 Convertible Notes 2017 Term Loan

2017 PIK Notes

1,000

800

600

400

200

02014 2015 2016 2017 2018 2019

1,000

800

600

400

200

02014 2015 2016 2017 2018 2019

2613 305

4352

331

Maturity as at December 31, 2013(US$ m)4

Pro Forma maturity as at December 31, 2014(US$ m)4

Drawings of RCF

1 Includes PIK interest to December 31, 2014.² Excludes PIK interest from December 1, 2014.3 Replacement facility under the Commitment Letter provided by Time Warner regarding the refinancing of the 2015 Convertible Notes at or immediately prior to their maturity in November 2015.4 Debt in currencies other than US$ are translated at FX rates as at December 31, 2014.

261 331 291

2016 Fixed Rate Notes 2017 Fixed Rate NotesReplacement facility for2015 Convertible notes3

25

Liquidity available from RCF: US$ 90 million

2017 EuroTerm Loan

Free cash flow excludes the cash impact of certain unusual or infrequent items that are excluded from OIBDA.

Indebtedness as at December 31, 2014

33

As at December 31, 20141 Drawn Total facilityLC Interest

rate MaturityUS$ m US$ m LC2 m

Corporate:

2015 Convertible Notes 261.0 261.0 261.0 USD 5.0%4 20154

2017 Euro Term Loan 304.5 304.5 250.8 EUR 8.5% 2017

2017 PIK Notes 434.8 434.8 434.8 USD 15.0% 2017

2017 Term Loan 33.1 33.1 33.1 USD 15.0% 2017

2017 Revolving Credit Facility 25.0 25.0 25.0 USD 10.0% 2017

Other credit facilities 3.4 3.4 12.5 RON Var. Var.

Total debt3 1,061.8

Lease obligations 3.6

Currency and Interest Agreements 0.6

Total debt (consolidated)3 1,066.0

Less: Unrestricted cash (34.3)

Net debt 1,031.7

Weighted average interest rate of gross debt 10.5%¹ Debt in currencies other than US$ are translated at FX rates as at December 31, 2014² LC: local currency.3 Total debt includes 2015 Convertible Notes, 2017 Euro Term Loan, 2017 PIK Notes and 2017 Term Loan at full face value.4 We have entered into a Commitment Letter with Time Warner whereby Time Warner will provide or assist arranging a loan facility to refinance the 2015 Convertible Notes immediately prior their maturity in November 2015. Thereplacement facility will bear interest at 8.5% and CME will have the option to pay interest in kind.Please refer to our Form 10-K for the period ended December 31, 2014 for the full financial statements and related notes and disclosures.

34

Equity structure as at March 6, 2015

Shares ofClass A

CommonStock

Series AConvertiblePreferred

Share1

Series BConvertibleRedeemable

PreferredShares2

Ownership %of Shares of

Class ACommon

Stock

Votinginterest3

Shares outstanding, excluding TimeWarner

73,927,483 - - 54.6% 50.4%

Time Warner 61,407,775 1 200,000 45.4% 49.6%

Total 135,335,258 1 200,000 100.0% 100.0%

1 The single share of Series A Convertible Preferred Stock is convertible into 11,211,449 shares of Class A common stock.

2 The shares of Series B Convertible Redeemable Preferred Stock are non-voting perpetual stock, convertible after June 25, 2016 at the option of Time Warner at a conversion price of 2.42, subject tocustomary anti-dilution provisions, and redeemable after June 25, 2016 at the option of CME, subject to the conversion right of Time Warner. The accretion rate is 7.5% per annum for the first 3 yearsand 3.75% per annum for the 4th and 5th year. Assuming conversion three years from issuance and no further adjustments to the conversion price under the Certificate of Designation for the Series BPreferred Shares, TW Investor would be issued 103.2 million shares of Class A common stock upon conversion.

3 Voting interest takes into account both the shares of Class A common stock and the share of Series A Convertible Preferred Stock, which is entitled to one vote for each of the 11,211,449 shares ofClass A common stock into which it is convertible. The Series B Convertible Redeemable Preferred Shares are non-voting, except in certain circumstances.

SummaryClass A's

outstanding/underlying at

March 31, 2014

Warrant issuance andadjustment to Series B

Conversion price³

Vesting of RSUsand accretion of

Series B

Class A'soutstanding/underlying at

December 31, 2014

Class A Common Shares 135,126,867 208,391 135,335,258Convertible instruments:Series A Convertible Preferred Shares 11,211,449 11,211,449Series B Convertible Redeemable Preferred 66,951,581 20,404,790 5,007,026 92,363,397Initial Warrant 30,000,000 30,000,000Unit Warrants 84,000,000 84,000,000

Diluted CME Class A Shares² 213,289,897 134,404,790 5,215,417 352,910,104

TWX Ownership (As Converted Basis)Class A Common Shares 61,407,775 61,407,775Convertible instruments:Series A Convertible Preferred Shares 11,211,449 11,211,449Series B Convertible Redeemable Preferred 66,951,581 20,404,790 5,007,026 92,363,397Initial Warrant 30,000,000 30,000,000Unit Warrants 70,926,996 70,926,996

Total TWX Class A Shares 139,570,805 121,331,786 5,007,026 265,909,617

TWX interest in CME² 65% 75%

Dilutive Instruments and Economic Interest

¹ Based on the accreted value as of March 31, 2014 or December 31, 2014, as applicable, without giving effect to additional accretion of the Series B Preferred Stock after such date.² Excluding 1.4 million unvested RSUs, 0.2 million out-of-the money stock options, and 850,000 warrants with a strike price of $21.75.³ Reflects adjustment under the anti-dilution provisions in Series B Convertible Redeemable Preferred Stock held by Time Warner following the issuance of the warrants.

35

OIBDA Reconciliation

36

Please refer to our Form 10-K for the year ended December 31, 2014 for the full financial statements and related notes and disclosures.

1 Other items for the year ended December 31, 2014 is comprised of a charge related to tax audits in Romania, which was accrued in the fourth quarter. The $6.9 million fine the competition agencyin Slovenia was seeking to impose relating to the operations there prior to 2012 was overturned in the fourth quarter. Since the charge, accrued in the second quarter of 2014, was not included inOIBDA, our reversal of this charge has similarly been excluded from OIBDA.

US$ m Three months endedDecember 31, Year ended December 31,

2013 2014 2013 2014Reconciliation to Consolidated Statements ofOperations:Operating (loss) / income (97.0) 38.3 (180.0) 38.3

Depreciation of property, plant and equipment 12.1 8.8 37.2 32.8

Amortization of intangible assets 3.6 2.9 14.8 12.3

Impairment charge 79.7 — 79.7 —

Other items1 — 5.1 — 12.0

OIBDA (1.6) 55.1 (48.4) 95.4

CME Board of Directors

Paul T. Cappuccio

John K. Billock

Independent Director, Non-ExecutiveChairman of the Board and member of the

Compensation Committee

▪ Executive Vice President and GeneralCounsel, Time Warner Inc.

▪ Former partner at Kirkland & Ellis

Director ▪ Member of the Board of Advisors atSimulmedia, Inc.

▪ Former Director of TRA Inc. and TiVoResearch and Analytics, Inc.

▪ Previous roles with Time Warner Cableand Home Box Office

Charles R. Frank

Independent Director and member of theAudit Committee

Director

Independent Director, Chairman of the AuditCommittee and member of the Corporate

Governance/Nominating Committee

Independent Director, Chairman of theCompensation Committee and member of theCorporate Governance/Nominating Committee

Independent Director, Chairman of theCorporate Governance/Nominating Committee

and member of the Audit Committee

Director

Independent Director and member of the AuditCommittee and member of the Compensation

Committee

Director

▪ Executive Vice President and GeneralCounsel, Time Warner Inc.

▪ Former partner at Kirkland & Ellis

▪ Currently a Principal of the H.A.M Mediagroup, an international investment andadvisory firm specializing in theentertainment and communicationsindustries

▪ International media and telecoms executivewith a cable industry background

▪ Former Chief Executive Officer ofUnitymedia

▪ Non-executive director of Wire and Wireless(India) Ltd

▪ Senior Vice President, International andCorporate Strategy at Time Warner Inc.

▪ Former senior analyst at Banc of AmericaSecurities

▪ After period as COO, CFO she became aPresident of RSL Capital LLC and Founder andGeneral Partner of RSL Venture Partners L.P.

▪ Previous roles with Martha Stewart LivingOmnimedia, Inc. and Time Warner, Inc.

▪ Significant experience in the media industryand investment banking

▪ President of Turner Broadcasting SystemInternational

▪ Former Chief Executive Officer of RTLGroup

▪ Former member of the executive board ofBertelsmann AG

Iris Knobloch

▪ President of Warner Bros. France S.A.

▪ Independent Director of Accor S.A.

▪ Former Senior Vice President ofInternational Relations of Time Warner Inc.

Alfred W. Langer

▪ Former CFO of Solvadis, a subsidiary ofthe German group MG Technologies

▪ Independent consultant in financial andorganizational areas

Bruce Maggin

Parm Sandhu

Doug Shapiro

Kelli Turner

Gerhard Zeiler37

Contact information

Prague Office

Kříženeckého nám. 1078/5152 00 Prague 5 – BarrandovCzech Republic

Mark KobalHead of Investor Relations

Email: [email protected] Telephone: +420 242 465 576

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