October 2014

CTC Media, Inc.

Investor Presentation

A Leading Independent Broadcasting and Content Company in Russia

From Private TV Network to Public Media Holding

1989 1994 2002 2005 2006 2008 2009 2010 2011 2012 2013 2014

CTC Media was

founded as Story

First

Communications

Launch of CTC

Network

Modern Times Group

became a shareholder

of CTC Media

Launch of

Domashny Network

Initial Public Offering

on NASDAQ

Acquisition of DTV

(rebranded to Peretz

in 2011)

Acquisition of

Channel 31 in

Kazakhstan and a TV

company in Moldova

Launch of CTC-

international in

Kazakhstan,

Kyrgyzstan,

Armenia, Georgia,

Azerbaijan, Thailand

and

uplink to HOT BIRD

CTC and Domashny

received digital

licenses

Launch of CTC-

international in

Germany, North America

and the Baltics

Telcrest Investments

Limited acquired a 25%

stake in СTС Media

from Alfa Group

Launch of Domashniy.ru

women’s portal Launch of CTC-

international in

USA

Launch of CTC-

international in

Israel

Establishment of

CTC Media’s

internal advertising

sales house

‘Everest Sales’

Launch of

Videomore.ru

online content

portal

Development of in-

house creative

production center

Launch of Peretz

International in

Belarus

Launch of CTC Love

Channel on cable

and satellite

Launch of Peretz

International in

Kyrgystan

Launch of Sweet me

brand together with

KupiVip

Launch of Russian

TV series in the US

on the HULU

subscription service

2

TRANSMEDIA

CTC-INTERNATIONAL (PAY-TV)

AD SALES

FREE-TO-AIR (CIS)

We Fully Capture the Value Chain by Being Integrated TV Broadcaster

BROADCASTING ( RUSSIA)

Free-to-air

TV ad maket growth1

International version of CTC channel

Mobile, smart TV, second screen, transmedia projects

Ctc.ru, Domashniy.ru, Peretz.ru

Online video portal Videomore.ru

CTC – target audience All 10-45

Domashny – target audience Females 25-59

Peretz – target audience All 25-49

International version of PERETZ channel

Kazakhstan Channel 31

Moldova СTС Dixi

Internal advertising sales house Everest

CTC Love – target audience All 11-34

3

Delivering on Strategic Priorities

Digital media revenue up

55% in RUB in 9M 2014

and continues to grow

Launch of Russian TV

series in the US on the

HULU subscription

service

Launch of the first e-

commerce project by a TV

company in Russia

Channels' websites

became full scale

platforms

New approach of

monetization throw

partnerships

Launched in-house

creative production center

Centralized content

purchases to secure

synergies, longer content

life span and sharing

among platforms

Centralized programming

to avoid cannibalization

Further steps towards

more local content

Prioritize content

and synergies

STRATEGIC GOAL: To become a leader in creation, management and distribution of content

on all potentially monetizable platforms

Grow combined

audience share

Expand digital

offerings

Diversify revenue

streams

1 2 3 4

Launch of CTC Love to

cover a further,

complementary audience

segment

New Head of Domashny

upgrades Channel’s

content and programming

4

Content Strategy

– Consolidate acquisition and production in the In-House Creative Production

Center

– Increase buying power and negotiate better terms

– Maximize control over rights for all platforms

– Capitalize on management and monetization of rights

5 5

Centralized content acquisition and content production function

Centralized programming and technical signal management

– Create one library

– Focus on inventory control

– Manage content utilization for all channels

– Avoid cannibalization between the channels

Driving Operating Efficiency

Avoid multiple divisions and departments; consolidate under the top

management

Strategy core to CEO responsibility

Digital integrated with – and a continuation of – the TV business

– Take multiplatform approach to content creation and distribution

– Consolidate all channels’ digital activities in one division

Already centralized marketing, corporate communication, strategic programming

and content acquisitions

6

Create centralized structure with the potential to integrate

more businesses, channels and platforms

Keep the smart balance between the optimization and growth

Focus on developing and retaining young talent

Make all operations profitable

Significant increase of efficiency: no growth of headcount while growing

business and launching new channel

Combination of Growth, Profitability and Dividend Yield

GROWTH EFFICIENCY /

PROFITABILITY

RETURN CASH

TO SHAREHOLDERS

Operating in Europe’s third

largest1

Forecast for Russian TV

advertising market to grow up

1-3% in 2014, CTC Media strive

to outperform the market with

its Russian advertising revenue

OIBDA margin of 32.5% in 2013,

well above European TV

broadcasters average

High Group power ratio above 1.5x

compared to rivals due to attractive

audience profiles2

Strong cash flow generation and

net cash position

Over 50% cash dividend payout

More than 5% dividend yield in

2011, 2012 and 2013

Current dividend yield

approximately 12%, the highest

among European media

companies

+ +

Source: (1) Zenith Optimedia, April 2014 estimates

(2) Kommersant newspaper, 16 April 2013 (FY 2012 results). Power ratio = national TV ad revenue share / audience share in “all 4+” age group. Power ratio demonstrates relative effectiveness of audience monetization.

7

We Operate in Attractive Markets

Sources: Video International, Russian Association of Communications Agencies, ZenithOptimedia, CIA World Factbook, Rosstat, Russkiy Mir Foundation

Note: (*) All TV Ad Markets figures are net of VAT

Kazakhstan Population = 17.1 million

2012 TV Ad Market = US$ 128.6 million*

Russian-speaking population = 12.3 million

Kyrgyzstan Russian-speaking population = 3.6 million North America

Russian-speaking

population = 3.5 million

Germany Russian-speaking

population = 6 million

Russia Population = 143.7 million

2013 TV Ad Market = US$ 4.9 billion*

Israel Russian-speaking

population = 1.5 million

Moldova Population = 3.6 million

2012 TV Ad Market = US$ 17.1 million*

Baltic states Russian-speaking

population = 4 million

Since February 2012

CTC-International an

is available on the HOT

BIRDTM 8 satellite

(W/E Europe, North Africa,

Middle East and Central Asia

coverage)

Thailand Russian-speaking tourists = 1.3 million (2012)

Armenia, Georgia, Azerbaijan Russian-speaking population=10.4 mln

Belarus Russian-speaking population = 7 million

8

We Are the Largest Independent FTA-Broadcaster in Russia with Premium Audiences

Combined audience

shares, %

(all 10-45 demographic)

9

29.2

15.9

11.7 10.99.1

4.1

Gazprom-Media СTС Media VGTRK (Rossiya) Channel One National Media Group UTV Russia Holding

Q3 2013

28.6

14.713.4

10.9

7.8

3.7

Gazprom-Media СTС Media VGTRK (Rossiya) Channel One National Media Group UTV Russia Holding

Q3 2014

Growing Audience Shares In “All 10-45” Most Commercially Attractive Demographic

Audience shares1, %

(1) Source: TNS Russia, CTC Media’s Research Department

(2) Includes audience shares of regional and non-FTA channels

(*) Operated under Semerka brand before 31 December, 2011

(**) Operated under Muz-TV brand before 1 September, 2012

2

(***) Operated under MTV brand before 1 June, 20123

10

13.5

10.911.6

7.8

9.2

4.24.9

1.0

3.0

1.92.2 2.1 2.2 2.2 1.9

1.51.9

1.6

0.7

18.6

13.7

10.910.3

7.7 7.7

4.0 3.83.4 3.1

2.4 2.42.0 2.0 1.8 1.7 1.7 1.6 1.4

0.6

20.8

TNT ChannelOne

CTC Russia 1 NTV Channel 5 Ren TV Russia24

TV-3 Pyatniza *** Domashny Peretz Disney * Russia 2 U ** 2X2 TV Centr Zvezda RussiaK

Other

Q3 2013

Q3 2014

Growth Company Operating in a Dynamic Market

Digitalization in Russia Is on Its Way

First multiplex Second multiplex

12

Multiplex Expenses*, RUBm

P&L, RUBm (net of VAT) 2014 2014-2019

Current ~185

Savings ~700

Cash, RUBm (net of VAT) 2014 2015-2018

Current ~575

Savings ~300

OPEX savings

>5000

CASH savings

>4000

* per CTC + Domashny in Multiplex, annualy Part of cash payments are capitalized as prepaid expenses; to be written off to PnL in 2019 and subsequent years

Significant cost optimization have been achieved as a result of active positioning of CTC Media. We consider this to be a

huge achievement that will have a significant impact on current and future CTC Media Group financial performance in the

long-term period

The rollout of second digital multiplex has been modified as follows:

Instead of 100% infrastructure roll-out in 2015, beginning 2H 2014 RTRS launches broadcasting in cities with

population more than 50 thousand people in the second multiplex

Over the period 2015-2018, RTRS constructs broadcasting infrastructure in cities with population less than 50

thousand people, but does not put this infrastructure into operation

Starting from 2019 RTRS put into operations broadcasting units in cities with population less that 50 thousand

people.

USA Japan China Brazil UK Germany Russia

US

$ b

ln

Russian TV Ad Market Has Significant Potential for Further Development…

Russian TV ad market was #7 in the world and #3

in Europe in 20131 and is expected to maintain its

position by 2016

Free-to-air TV ad market growth1

RU

B

bln

Sources: (1) Zenith Optimedia, as of April 2014, Company’s estimates Note: All TV Ad Markets figures are net of VAT

64.3

22.5

16.4

11.8

5.4 5.4

5.0

42

11795

109129

140152

96

257

186

219

263

298

328

2004 2008 2009 2010 2011 2012 2013TV Ad Market Total Ad Market

13

1.4

1.7

0.9

1.2

0.90.9

0.80.7

0.6 0.6 0.6

1.6 1.6

1.0 1.01.0

0.8

0.7

0.5 0.5 0.5

0.4

Slo

ve

nia

Bu

lga

ria

Au

str

ia

US

A

Be

lgiu

m

UK

Ge

rma

ny

CE

E A

ve

rag

e

Russia

Ukra

ine

Po

lan

d

2008 2013

13% 16% 18%10%

17%12% 16% 13%

8%

18%

1% 5%9%

66% 63% 61%

66%

38%42%

23%20%

21%7%

23% 16% 3%

Consumer loans / GDP Mortgages / GDP

…Due to Relatively Low Ad Spend as % of GDP and Underleveraged Consumer

Ad spend as % of GDP¹

Sources: (1) ZenithOptimedia, Company’s estimates

(2) National Central Banks

Consumer and mortgage loans as % of GDP 2

14

TV is the only medium with truly national reach

Important social and cultural platform

More free-to-air networks than in other countries

High quality free-to-air content offering

TV Is the Most Attractive Advertising Medium in Russia

Ad spend in Russia by media segment1 (%)

Sources: (1) Russian Association of Communication Agencies, Video International

43%

1%

31%

18%

6%

0.4%

48%

22%

11%12%

5%2%

48%

30%

6%

10%

5%2%

TV Internet Press Outdoor Radio Other

2004 2013 2018F

15

232226

246 243 243

222

249251

133142

134

188210

170 169

166

5 613

2339

47

5866

4537

46 5144 40

42 41

2006 2007 2008 2009 2010 2011 2012 2013

TV

Radio

Internet

Other

Internet Is Growing Not at the Expense of TV Usage

Source: TNS Gallup Media, Russia

* Change in TNS Measurement panel in 2012 increase proportion of 2+ Tv-sets per household

TV Usage (Minutes per day, All 16+)

Min

ute

s p

er

da

y

*

But in “All 10-45” demographic

TV viewership was down 4%

16

We Continue to Deliver Strong Top and Bottom-line Growth…

Notes: (*) OIBDA is defined as operating income before depreciation and amortization (exclusive of amortization of programming and sublicensing rights. OIBDA margin is defined as OIBDA divided by total operating revenues. Both OIBDA and OIBDA margin

are non-GAAP financial measures (see reconciliations on page 48)

(**) 2008 OIBDA and OIBDA margin are adjusted to exclude a $232.7 million charge arising from the impairment of the intangible assets of DTV Group in Russia, Channel 31 in Kazakhstan and a broadcasting group in Moldova; 2009 OIBDA and

OIBDA margin are adjusted to exclude an $18.7 million charge arising from the impairment of the broadcasting licenses in Russia and a $28.6 million stock-based compensation expense recognized in conjunction with the previously announced

settlement by CTC Media of litigation brought by it against its former CEO; 2011 OIBDA and OIBDA margin are adjusted to exclude a $106.4 million charge arising from the impairment of several regional broadcasting licenses and the Peretz Network

goodwill; 2011 OIBDA and OIBDA margin are adjusted to $82.5 million non-recurring charge arising from the impairment of analog broadcasting licenses; 2013 OIBDA and OIBDA margin are adjusted to $29 million charge arising from the impairment of the

Company’s production unit in the fourth quarter 2013 (see reconciliations on page 46-47)

(***) Comparable-basis operating revenues are non-GAAP financial measures provided in order to facilitate period-to-period comparisons of CTC Media’s results following the implementation of the new model of advertising sales starting from 2011 (see

reconciliations on page 48)

(****) Following companies are included in European peers average OIBDA margin calculations: CME, TVN, S.A. Modern Times Group, Antena3, ITV plc, Metropole Television, Mediaset, ProSiebenSat, Mediaset Espana, TF1

US

$ m

ln

US

$ m

ln

181

273

427

532

730

574

680

766805

832

2004 2005 2006 2007 2008** 2009** 2010 2011** 2012** 2013**

(Comparable-basis) total operating revenues***

71

104

174

220

280

211221

247256

271

39%38%

41%

41%38%

37%

32% 32% 32% 33%

22%

26% 26% 27%

21%16%

21% 20% 16%21%

2004 2005 2006 2007 2008** 2009** 2010 2011** 2012** 2013**

OIBDA* OIBDA margin*, % Peers average OIBDA margin****,%

17

…and to Diversify Our Lines of Business

2004

Russian FTA

Broadcasting

100%

Sublicensing

~0.5% 3Q 2014

Russian FTA

Broadcasting

95%

69% 16%

10%

Channel 31

~3.0%

Digital Media

~1.0%

CTC-

International

~0.5%

18

Fragmentation of Russian TV Market Presents Opportunity for Niche Channels Growth

Audience shares, all 10-45 demographic

Top 3 state-controlled channels

1st tier channels

2nd tier channels

Notes: top 3 state-controlled channels: Channel One, Rossiya 1, NTV; 1st tier channels: CTC, TNT, Ren-TV;

2nd tier channels: TV-3, Domashny, Peretz, Rossiya K, Channel 5, Rossiya 2, Euronews, Zvezda, Pyatniza, Rossiya 24, Ю, 2x2, TV Center, Disney, RU TV

Non-FTA and regional channels

19

10%

15%

20%

25%

30%

35%

40%

45%

50%

55%

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Q3 2014

Audience Share Performance

CTC channel inventory was fully sold out in Q3

2014

Launch of new premier series with an audience

share higher than the channel’s average audience

share for the season: 80s (12.9%), Family Business

(12.1%), Angelica (11.3%)

CTC channel maintained its place as the third most-

watched broadcaster in Russia in its target

demographic of 10-45 yo viewers

20

Audience share growth from 3.1 in Q1 2014 to 3.7 in

Q3 2014

Successful changes in the programming schedule

in primetime slots

Launch restyle of a new logo and updated visual

format with a new motto “Forever for women” in

October

Despite some audience share loss year-on-year

Domashny continued to rejuvenate and its share

ratio of Woman 25-50 to Woman 25-59 improved

from 0.91 in 2013 to 0.98 in Q3 2014

Peretz increased its audience share from 1.9% in

Q2 2014 to 2.1% in Q3 2014

The channel remained affected by extensive news

flow about Ukraine with its reality and action

positioning and male skewed audience

Repositioning and programming grid improvement

are on track

11.6

10.3

11.4

10.4

Q3'13 Q3'14 9M'13 9M'14

3.93.7

3.5 3.4

Q3'13 Q3'14 9M'13 9M'14

2.3

2.1

2.4

2.1

Q3'13 Q3'14 9M'13 9M'14

CTC Improves Its Target Audience Profile in Commercially Attractive Demographic

Sources: TNS Russia

21

Domashny Improves Affinity in Its Target Demographic

Sources: TNS Russia 22

Peretz Improves Audience Profile In Commercially Attractive Young Adults Demographics

Sources: TNS Russia 23

Stable Consumer Goods Client Base with Large Multi-National and Local Advertisers

Ad spending on CTC Media’s Russian channels by category

■ Vast majority of CTC Media’s Russian advertisers are

basic consumer goods focused

■ CTC Media’s advertisers’ budgets split:

80% multinationals, 20% local companies

■ 38% of ad revenue** came from top 10 clients in Q3 2014

Notes: (*) National advertising sales for CTC, Domashny and Peretz Networks

(**) Total Russian advertising sales for CTC, Domashny and Peretz Channels

*

24

3Q 2013 3Q 2014

1 Food and beverages 24% 26%

2 Cosmetics and personal care products 19% 22%

3 Other goods 15% 16%

4 Pharmaceuticals and vitamins 17% 15%

5 Telecoms 8% 7%

6 Auto 3% 5%

7 Detergents 4% 4%

8 Appliances 4% 3%

9 Retail 5% 3%

10 Finance 1% 1%

Developing in Attractive CIS, International and Transmedia Markets

10.011.9

16.9

23.6

25.8

FY 2009 FY 2010 FY 2011 FY 2012 FY 2013

Revenue OIBDA margin

Strong Market Positions in Kazakhstan

Channel 31, Kazakhstan (all 6-54 demographics)* Significant growth in Kazakhstan revenue and OIBDA margin

US

$ m

ln

Source: (*) TNS Central Asia

** Measured since March 1, 2014

17.4% 21.8%

30.4%

16.2%

Power ratio up to 1.2x from 1.0x

31.0% 11.6% 11.2%

15.2% 14.7%

13.2%

11%12%

14%

17%

18%

FY 2009 FY 2010 FY 2011 FY 2012 FY 2013

Target audience share Market share

#2 among Top-10 Kazakh channels

26

22.0

14.1 14.3

12.2

6.1

8.17.1

3.7

1.8

20.3

14.9

13.5

10.4

8.98.1

6.3

4.43.7 3.3

Channel 1 Channel 31 KTK NTK Astana Kazakhstan Channel 7 RTRPlaneta (KZ) **

Habar Mir

Q3 2013

Q3 2014

Plus We Continue to Expand Internationally…

Thailand July 2012 – Thai Media Export cable network

Armenia

Georgia

Azerbaijan

May 2012 – Caucasus cable networks 10.4 mln

Kyrgyzstan April 2012 – Europe-Asia cable and satellite network 2.5 mln

Europe

North Africa Middle East

Central Asia

February 2012 – uplink service HOT BIRDTM

Kazakhstan February 2012 – Digital TV; Icon TV 12.3 mln

Baltic States October 2011 – Viasat Broadcasting 4 mln

Germany March 2011 – Kartina TV IPTV 6 mln

Israel June 2011 – Hot; Yes 1.5 mln

North America

December 2009 – Dish

May 2011 – Time Warner; RMG

October 2011 – Cablevision

2013 - Comcast 3.5 mln

Increasing CTC Media’s international brand awareness & value through CTC-international and

Peretz-International

Total Russian-speaking population 47.2 mln

Russian-speaking

population

Belarus October 2013 – Beltelecom (Zala), MTIS, Cosmos-TV cable networks 7 mln

27

Special Projects

■ Successful launch of 7 transmedia projects with total revenues of 124 million rubles - PepsiCo,

BEKO, Unilever (Lipton, Dove), Novartis (Theraflu), Beiersdorf (Nivea), HERO Rus (Corny)

Partnerships

Odnoklassniki – The project successfully launched in September 2014

Game Insight – A unique for Russia project with games developer for mobile and social platforms to

be launched in December 2014

Yandex – The partnership to be launched by the end of 2014

Vkontakte, Rambler&Co – Projects are under active development

28

Digital Partnerships and Transmedia Projects

■ First ever in Russia second screen App to be launched simultaneously with premier TV series of

Youth League (Molodezhka) in November’ 2014

…and Enter New Platforms to Be Wherever Our Viewers Are

29

Strong and Flexible Financial Position

Q3 and 9M 2014 Financial Highlights

31

2013 2014 in USD in RUB 2013 2014 in USD in RUB

Total operating revenues 171 084 158 567 -7% 3% 572 386 529 126 -8% 4%

Total operating expenses (126,897) (114,307) -10% 0% (436,620) (398,107) -9% 2%

OIBDA 52 337 50 629 -3% 9% 160 739 152 040 -5% 7%

OIBDA margin 30.6% 31.9% 28.1% 28.7%

Net income/(loss) attributable to CTC

Media, Inc. stockholders 46 655 31 595 -32% -24% 106 836 89 472 -16% -5%

Diluted earnings per share $0.30 $0.20 -33% $0.68 $0.57 -16%

Nine Months

Ended September 30, Change(US$ 000’s except per share data)

Three Months

Ended September 30, Change

Q3 and 9M 2014 Balance Sheet and Cash Flow Highlights

Consolidated Balance Sheet Highlights Consolidated Cash Flow Highlights

Notes: (1) Working capital = current assets - current liabilities

(2) Net cash position = cash and cash equivalents + short-term investments - total debt

(3) Free cash flow = cash flow from operating activities - acquisitions of property and equipment and intangible assets

32

(US$ mln)As of December 31,

2013

As of September 30,

2014

Cash and cash equivalents 30.6 29.8

Short-term investments 180.3 122.0

Total assets 971.0 828.2

including goodwill 135.3 112.4

including broadcasting licenses 59.7 41.4

including programming rights 294.0 258.3

Working capital1 311.9 249.5

Stockholders’ equity 734.1 615.1

Net cash position2 207.5 149.0

(US$ mln)Nine months ended

September 30, 2013

Nine months ended

September 30, 2014

Cash at beginning of period 55.2 30.6

Net cash provided by operating activities 64.5 55.0

including acquisition of progr. and sublic. rights (282.5) (273.2)

Net cash used in investing activities 22.2 33.1

including CapEx (3.5) (3.8)

including receipts from/(investments in) deposits 26.2 36.9

Net cash used in financing activities (111.5) (87.0)

Cash at end of period 27.8 29.8

CapEx (3.5) (3.8)

CapEx as % of total revenue 0.6% 0.7%

Free cash flow3 61.0 51.2

36%

33%

27% 27% 27%29%

32%

2007 2008 2009 2010 2011 2012 2013

High Levels of Cash Conversion and Return on Capital Employed

2007-2013

average

ROCE: 30%

% of OIBDA Converted to Operating Cash Flow Return on Capital Employed*

Note: (*) ROCE excludes one-off non-cash asset impairment charges recognized in 2008, 2009, 2011, 2012 and 2013

US

$ m

ln

158

186

133

186

116

158

187

72%66% 63%

84%

47%

62%69%

0

20

40

60

80

100

120

140

160

180

200

2007 2008 2009 2010 2011 2012 2013

Operating Cash Flow % of OIBDA converted

33

Strong Management Team

Yuliana Slashcheva

Chief Executive Officer • Joined CTC Media in 2013

• 20 years in high growth media

related businesses

• Vast executive experience

• Experience in creating and

managing digital development

projects

Nikolay Surikov

Chief Financial Officer • Joined CTC Media in 2012

• Almost 20 years experience in

finance

• Previously with Ernst & Young,

VTB and MTS

Julia Moskvitina

Chief Commercial Officer • Joined CTC Media in 1999

• 15 years experience in advertising

sales

Sergey Petrov

Chief Broadcasting Officer • Joined CTC Media in 1995

• 20 years experience in TV industry

Viacheslav Murugov

Chief Content Officer • Joined CTC Media in 2005

• Over 15 years in media industry

• Acclaimed producer of numerous

award winning TV shows

Lilia Omasheva

Chief of Operational Efficiency and

Organizational Development • Joined CTC Media in 2013

• 10 years experience in advertising

industry

34

CTC Media Shareholder Structure

CTC Media, Inc.

Shareholder of CTC Media

since 2002

Modern Times Group

MTG AB

39%

Number of common shares outstanding

(as of October 29, 2014)

Shareholder of CTC Media

since 2011

Telcrest Investments

Limited

25%

IPO on NASDAQ in June 2006

Free float

36%

155,762,166

Mathias Hermansson

Director

Irina Gofman

Director

Jørgen Madsen Lindemann

Co-chairman

Board of Directors

Independent Directors

Angelo Codignoni

Co-Chairman

Alexander Pentya

Director

Timur Weinstein

Director

Tamjid Basunia

Director

Werner Klatten

Director

Jean-Pierre Morel

Director

35

Appendix

11.7

12.8

11.4

8.59.0

5.1

4.3

3.0

0.9

2.31.6

2.22.5

2.0 1.8 1.7 1.5 1.50.8

18.6

12.012.6

10.4

8.58.0

4.2 3.9

3.1 2.92.2 2.2 2.0 2.0 2.1

1.7 1.71.4

1.5

0.6

20.1

ChannelOne

TNT CTC Russia 1 NTV Ren TV Channel 5 TV-3 Russia24

Russia 2Pyatniza *** Peretz Disney * Domashny TV Centr U ** Zvezda 2X2 RussiaK

Other

9M 2013

9M 2014

Growing Audience Shares In “All 10-45” Most Commercially Attractive Demographic

Audience shares1, %

(1) Source: TNS Russia, CTC Media’s Research Department

(2) Includes audience shares of regional and non-FTA channels

(*) Operated under Semerka brand before 31 December, 2011

(**) Operated under Muz-TV brand before 1 September, 2012

2

(***) Operated under MTV brand before 1 June, 20123

37

13.5

12.0

12.7

7.47.0

5.85.0

1.2

2.9 2.7 2.72.2 2.5

1.9 1.71.1

1.7

1.0 0.8

17.5

13.6

12.6

11.3

7.3

6.0 5.7

3.8 3.7

2.92.6 2.5 2.4

1.8 1.6 1.6 1.4 1.4 0.90.8

19.1

ChannelOne

Russia 1 NTV TNT CTC Channel 5 Ren TV Russia 24 TV Centr Domashny TV-3 Zvezda Russia 2 Peretz Disney * Pyatniza *** Russia K U ** 2X2 Other

Q3 2013

Q3 2014

Audience Shares In “All 4+” Demographic

(1) Source: TNS Russia, CTC Media’s Research Department

(2) Includes audience shares of regional and non-FTA channels

Audience shares1, %

(*) Operated under Semerka brand before 31 December, 2011

(**) Operated under Muz-TV brand before 1 September, 2012

2

(***) Operated under MTV brand before 1 June, 20123

38

Audience Shares In “All 4+” Demographic

(1) Source: TNS Russia, CTC Media’s Research Department

(2) Includes audience shares of regional and non-FTA channels

Audience shares1, %

(*) Operated under Semerka brand before 31 December, 2011

(**) Operated under Muz-TV brand before 1 September, 2012

2

(***) Operated under MTV brand before 1 June, 20123

39

13.7

12.812.9

7.16.9

5.75.3

2.9

1.1

2.62.4 2.5

2.1 1.9 1.8 1.7

0.9 0.9 0.8

17.3

14.4

13.4

11.6

6.7

6.05.5

4.2

3.0 3.2

2.52.2 2.4 2.3

1.7 1.5 1.41.2 0.9

0.7

18.5

ChannelOne

Rossiya 1 NTV TNT CTC Channel 5 Ren-TV TV Center Rossiya 24 TV-3 Rossiya 2 Domashny Zvezda Peretz Disney* Rossiya K Pyatnica*** U** 2x2 Other

9M 2013

9M 2014

87%

65%

54%

88%

71%

61%

91%

76%

68%

94%

82%

73%

95%

85%80%

95%

89%

84%

95%90%

85%

Consistent Growth in Technical Penetration

Note: (1) Technical penetration means the percentage of the population that has the technical ability to receive a particular broadcast signal. Measured annually by TNS Gallup Media in cities with populations of more than 100,000

Technical Penetration1, %

2007 2008 2009 2010 2011 2012 2013 2007 2008 2009 2010 2011 2012 2013 2007 2008 2009 2010 2011 2012 2013

40

Advertising Sales Structure since 2011

Advertisers

Advertising Agencies

Internal Sales Houses External Sales Houses

Everest Sales RTR-Media Gazprom-Media / Alkasar Video International

Consultancy services

41

Operating Expenses

as % of total operating

expenses

as % of total operating

revenues

$171.1 mln $158.6 mln $114.3 mln $126.9 mln

42

55% 55%

41% 40%

30% 30%

22% 21%

8% 9%

6%6%

0% 1%

0%0%

6% 6%

5%4%

Q3 2013 Q3 2014 Q3 2013 Q3 2014

Depreciation & amortization

Stock-based compensation

Direct operating expenses

SG&A expenses

Programming expenses

FY 2013 Income Statement Highlights

2012 2013 in USD in RUB

Total operating revenues 804,946 832,103 3% 7%

Total operating expenses (655,059) (624,404) -5% -2%

Total operating expenses before non-

recurring items (572,556) (594,535) 4% 7%

OIBDA 173,905 240,815 nm nm

OIBDA margin 21.6% 28.9%

Adjusted OIBDA 256,408 270,684 6% 10%

Adjusted OIBDA margin 31.9% 32.5% 0.6pp

Net income/(loss) attributable to CTC

Media, Inc. stockholders 93,063 152,340 nm nm

Diluted earnings per share $0.59 $0.97 nm

Adjusted Net income/(loss)

attributable to CTC Media, Inc.

stockholders

157,794 182,209 15% 19%

Adjusted Diluted earnings per share $1.00 $1.16 16%

Twelve Months

Ended December 31, Change(US$ 000’s except per share data)

43

(US$ mln)As of December 31,

2012

As of December 31,

2013

Cash and cash equivalents 55.2 30.6

Short-term investments 131.4 180.3

Total assets 985.6 971.0

including goodwill 178.0 135.3

including broadcasting licenses 82.3 59.7

including programming rights 255.3 294.0

Working capital1 298.3 311.9

Total debt (bank overdraft and loans) 13.2 3.4

Stockholders’ equity 762.9 734.1

Net cash position2173.4 207.5

(US$ mln)

Twelve months

ended December 31,

2012

Twelve months

ended December 31,

2013

Cash at beginning of period 12.3 55.2

Net cash provided by operating activities 157.7 186.6

including acquisition of progr. and sublic. rights (364.2) (378.0)

Net cash used in investing activities (26.5) (63.4)

including acquisition of businesses (4.0) (0.5)

including CapEx (15.6) (6.3)

including receipts from/(investments in) deposits (6.8) (56.6)

Net cash used in financing activities (88.9) (143.9)

Cash at end of period 55.2 30.6

CapEx (15.6) (6.3)

CapEx as % of total revenue 1.9% 0.8%

Free cash flow3 142.1 180.3

FY 2013 Balance Sheet and Cash Flow Highlights

Consolidated Balance Sheet Highlights Consolidated Cash Flow Highlights

Notes: (1) Working capital = current assets - current liabilities

(2) Net cash position = cash and cash equivalents + short-term investments - total debt

(3) Free cash flow = cash flow from operating activities - acquisitions of property and equipment and intangible assets

44

Reconciliation of Non-GAAP Measures

Reconciliation of consolidated adjusted OIBDA and other adjusted financial measures to consolidated OIBDA and other

corresponding GAAP financial measures

45

(US$ 000’s except per share data) OIBDATotal operating

expenses

Operating

income

Income before

income tax and

noncontrolling

interest

Income tax

expenseNet income

Fully diluted

earnings per

share

Twelve Months Ended December 31, 2013

Adjusted non-US GAAP results $270 684 ($594 535) $237 568 $251 365 ($61 335) $182 209 $1.16

Impact of impairment loss (29 869) (29 869) (29 869) (29 869) - (29 869) 0.19

Results as reported

(under US GAAP, except for OIBDA which is a non-US GAAP

financial measure) 152 340 $0.97 $240 815 (624 404) 207 699 221 496 (61 335)

(US$ 000’s except per share data) OIBDATotal operating

expenses

Operating

income

Income before

income tax and

noncontrolling

interest

Income tax

expenseNet income

Fully diluted

earnings per

share

Twelve Months Ended December 31, 2012

Adjusted non-US GAAP results $256 408 ($572 556) $232 390 $247 192 ($82 645) $157 794 $1.00

Impact of impairment loss (82 503) (82 503) (82 503) (82 503) 17 772 (64 731) (0.41)

Results as reported

(under US GAAP, except for OIBDA which is a non-US GAAP

financial measure) $173 905 ($655 059) $149 887 $164 689 ($64 873) $93 063 $0.59

USD mln 9M 2014 9M 2013 Q3 2014 Q3 2013 FY 2013 FY 2012 FY 2011 FY 2010 FY 2009 FY 2008 FY 2007 FY 2006 FY 2005 FY 2004

Operating margin 24.8% 23.7% 27.9% 25.8% 25.0% 18.6% 16.0% 34.4% 30.1% 5.3% 40.9% 41.6% 38.0% 40.2%

Add: depreciation and

amortization as

percentage of revenue

3.9% 4.4% 4.0% 4.8% 4.0% 3.0% 2.3% 2.3% 2.3% 2.1% 5.8% 5.3% 5.8% 5.1%

OIBDA margin 28.7% 28.1% 31.9% 30.6% 28.9% 21.6% 18.3% 36.7% 32.4% 7.4% 46.7% 46.9% 43.8% 45.3%

USD mln 9M 2014 9M 2013 Q3 2014 Q3 2013 FY 2013 FY 2012 FY 2011 FY 2010 FY 2009 FY 2008 FY 2007 FY 2006 FY 2005 FY 2004

Operating income (loss) 131 019 135 766 44 260 44 187 207 699 149 887 122 685 207 118 152 475 34 181 193 061 154 313 90 187 62 559

Add: depreciation and

amortization21 021 24 973 6 369 8 150 33 116 24 018 17 649 13 736 11 454 13 379 27 361 19 651 13 920 7 962

OIBDA 152 040 160 739 50 629 52 337 240 815 173 905 140 334 220 854 163 929 47 560 220 422 173 964 104 107 70 521

Reconciliation of Non-GAAP Measures (continued)

Reconciliation of consolidated OIBDA margin to consolidated operating income margin

USD mln 2004 2005 2006 2007 2008 2009 2010

Comparable-basis total operating

revenues180,639 273,352 427,091 532,143 729,629 574,107 680,418

Agency commission fees payable to

Video International in connection

with Russian advertising sales

(excluding commissions for regional

advertising sales to local clients)

(25,072) (35,875) (56,257) (60,087) (89,458) (67,994) (79,133)

Total operating revenues 155,567 237,477 370,834 472,056 640,171 506,113 601,285

Reconciliation of consolidated OIBDA to consolidated operating income

Reconciliation of comparable-basis, non-GAAP total operating revenues to total operating revenues

46

Reconciliation of Non-GAAP Measures

Reconciliation of consolidated adjusted OIBDA and other adjusted financial measures to consolidated OIBDA and other

corresponding GAAP financial measures

(US$ 000’s except per share data) OIBDA

Total

operating

expenses

Operating

income

(loss)

Income (loss)

before income tax

and noncontrolling

interest

Income tax

expenseNet income (loss)

Fully diluted

earnings per

share

Twelve months ended December 31, 2011

Adjusted non-US GAAP results $246,716 ($537,293) $ 229,067 $ 243,301 ($83,342) $ 152,561 $ 0.97

Impact of impairment loss (106,382) (106,382) (106,382) (106,382) 6,939 (99,443) (0.63)

Results as reported

(under US GAAP, except for OIBDA which is a non-US GAAP

financial measure) $ 0.34 $140,334 ($643,675) $ 122,685 $ 136,919 ($76,403) $ 53,118

Twelve months ended December 31, 2009

Adjusted non-US GAAP results $87,382 ($96,460) $84,047 $87,585 ($20,759) $64,466 $0.41

Impact of non-cash intangible asset impairment charge (18,739) (18,739) (18,739) (18,739) 3,748 (14,991) (0.10)

Impact of Stock-based compensation expense related to

settlement of litigation against former executive (28,588) (28,588) (28,588) (28,588) - (28,588) (0.18)

Results as reported (under US GAAP, except for OIBDA,

which is a non-GAAP financial measure) $163,929 ($353,638) $152,475 $148,645 ($45,626) $100,389 $0.64

Twelve months ended December 31, 2008

Adjusted non-US GAAP results $280,241 ($94,636) $92,712 $74,266 ($1,653) $64,635 $1.11

Impact of non-cash impairment of intangible assets of DTV,

Kz and Moldova (232,683) (232,683) (232,683) (232,683) 30,331 (153,679) (0.97)

Results as reported

(under US GAAP, except for OIBDA) $28,678 ($89,044) $0.14 $47,558 ($327,319) ($139,971) ($158,417)

47

Contact Information and Disclaimer

For further information please visit www.ctcmedia.ru or contact:

Nickolai Ivanov

Head of Investor Relations E-mail: ir@ctcmedia.ru

Tel: +7 (495) 981 0740

DISCLAIMER

• The information contained in this presentation, including market data that are attributed to specific sources and have not been independently

verified. No representation, warranty or undertaking, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy,

completeness or correctness of the information or the opinions contained herein. None of the Company or any of its affiliates, advisors or representatives shall

have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this presentation or its contents or otherwise arising

in connection with the presentation.

• The presentation is not an offer of securities for sale in the United States. Neither the presentation nor any copy of it may be taken or transmitted into

or distributed in the United States of America or to any U.S. person within the meaning of Regulation S under the United States Securities Act of 1933, as

amended (the “Securities Act”).

• This presentation is not a public offer or advertisement of securities in the Russian Federation, and is not an offer, or an invitation to make offers, to

purchase any securities in the Russian Federation.

• Certain statements in this presentation that are not based on historical information are "forward-looking statements" within the meaning of the Private

Securities Litigation Reform Act of 1995. Such forward-looking statements include, among others, Russian advertising market growth, roll-out of digital

broadcasting in 2014 – 2019 and ability of RTRS to put into operation equipment for digital broadcasting, TV ad spend in Russia by 2018 and etc. These

statements reflect the Company's current expectations concerning future results and events. These forward-looking statements involve known and unknown

risks, uncertainties and other factors which may cause the actual results, performance or achievements of CTC Media to be materially different from any future

results, performance or achievements expressed or implied by such forward-looking statements. The potential risks and uncertainties that could cause actual

future results to differ from those expressed by forward-looking statements include, among others, changes in the size of the Russian television advertising

market; the roll-out of digital broadcasting in Russia; depreciation of the value of the Russian ruble compared to the US dollar; geopolitical events involving

Russia and the other countries in which the Company operates, including any potential negative economic impact of such events; the Company’s ability to

deliver audience share, particularly in primetime, to its advertisers; free-to-air television remaining a significant advertising forum in Russia; and restrictions on

foreign involvement in the Russian television business. These and other risks are described in the "Risk Factors" section of CTC Media's annual report on

Form 10-K filed with the SEC on March 6, 2014. Other unknown or unpredictable factors could have material adverse effects on CTC Media's future results,

performance or achievements. In light of these risks, uncertainties, assumptions and factors, the forward-looking events discussed herein may not occur. You

are cautioned not to place undue reliance on these forward-looking statements. CTC Media does not undertake any obligation to publicly update or revise any

forward-looking statements because of new information, future events or otherwise.

48