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March 2015

CTC Media, Inc.

Investor Presentation

Contents

A Leading Independent Broadcasting and Content Company in Russia

1

Growth Company Operating in a Dynamic Market

Goal to Become a Leader in Content Creation, Management and Distribution

Developing in Attractive CIS, International and Transmedia Markets

Outperformance in 2014 on the Back of Challenging Market Environment

Company Overview 2-8

Strategy Overview 9-10

Company’s Market Position 11-18

Areas for Further Development 19-22

Q4 & FY 2014 Financial & Operational Highlights 23-31

Appendix 32-39

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 2015

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

receive 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 Sweet Me

brand

Launch of Russian

TV series in the US

on the HULU

subscription service

Launch of Second

Screen App

3

Launch of mobile

social network game

based around TV

show Molodezhka

Acquisition of

CarambaTV

TRANSMEDIA

CTC-INTERNATIONAL (PAY-TV)

AD SALES

FREE-TO-AIR (CIS)

We Fully Capture the Value Chain by Being an 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

Internal advertising sales house Everest

CTC Love – target audience All 11-34

4

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

Combined audience shares, %

(all 10-45 demographic)

5

27.8

14.713.6

12.1

8.1

3.7

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

12M 2014

We Operate in Attractive Markets

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

Kazakhstan 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

Israel Russian-speaking

population = 1.5 million

Moldova Population = 3.6 million

Baltic states Russian-speaking

population = 4 million

Since February 2012

CTC-International

is available on the HOT

BIRD 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

6

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 March 5, 2015)

Shareholder of CTC Media

since 2011

Telcrest Investments

Limited

25%

IPO on NASDAQ in June 2006

Free float

36%

155,762,166

Kaj Gradevik

Director

Irina Gofman

Director

Natasha Tsukanova

Co-chairman

Board of Directors

Angelo Codignoni

Co-Chairman

Alexander Pentya

Director

Timur Weinstein

Director

Tamjid Basunia

Director

Werner Klatten

Director

Jean-Pierre Morel

Director

7

Strong Management Team

Yuliana Slashcheva

• Chief Executive Officer

• Joined CTC Media in 2013

• 20 years in high growth

media related businesses

Julia Moskvitina

• Chief Commercial Officer


• More than 15 years’

experience in advertising

sales

Sergey Petrov

• Chief Broadcasting Officer


• 20 years‘ experience in TV

industry

Lilia Omasheva

• Chief of Operational Efficiency

and Organizational

Development


• More than 10 years’ experience

in advertising industry

8

Stanislav Ploschenko

• Chief Financial Officer



experience in finance

Oleg Kuzmin

• Chief Strategic

Communications Officer


• 15 years‘ experience in

communications and

marketing

Elmira Makhmutova

• Head of CTC Channel



experience in marketing

and media business

Lika Blank

• Head of Domashny Channel


• More than 16 years’ experience

in media business

Ruben Oganesyan

• Head of Peretz Channel



experience in media business

Delivering on Strategic Priorities

New approach to

monetization through

digital projects and

partnerships

Digital media revenue up

almost 50% in RUB in

2014 and continues to

grow

Launch of the first e-

commerce project by a TV

company in Russia

Channels' websites

became full scale

platforms

Second screen App

successfully launched in

November 2014

Successful launch of a

social network game

based around TV show

Molodezhka

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 content creation, management and distribution

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 complementary

audience segment

New Head of Domashny

upgrades Channel’s

content and programming

to attract younger

audience

New Heads of CTC and

Peretz to strengthen

channels’ market

positions

9

Combination of Growth, Profitability and Dividend Yield

GROWTH EFFICIENCY /

PROFITABILITY

RETURN CASH

TO SHAREHOLDERS

Operating in one of Europe’s

largest1 TV ad markets ($4.1

bln in 2014)

OIBDA margin of 29% in 2014

High Group power ratio of 1.75x

due to attractive audience profiles

Strong cash flow generation and

net cash position

Over 50% cash dividend payout in

2014

Aggregate cash dividends of $109

mln paid in 2014

Cash dividend of $ 0.175

per share for the first quarter of

2015. The Board will consider

further quarterly dividends in light

of market conditions

+ +

Source: (1) Zenith Optimedia and AKAR estimates. 10

Growth Company Operating in a Dynamic Market

13.7

11.410.9

9.1 8.8

4.04.4

3.2

2.1 2.2

0.9

2.1 2.1 2.01.7 1.6

2.0

1.40.6

19.0

14.2

12.5

9.7

7.5 7.4

4.0 4.03.2

2.3 2.3 2.1 2.0 1.8 1.8 1.8 1.7 1.61.5

0.5

20.5

TNT ChannelOne

CTC NTV Russia 1 Channel 5 Ren TV TV-3 Pyatniza *** Disney * Russia24

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

Other

Q4 2013

Q4 2014

Growing Audience Shares In “All 10-45” - Most Commercially Attractive Demographic – Q4 2014

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

12

13.1

11.6 11.3

8.69.0

4.94.2

3.0

0.91.7

2.2 2.4 2.0 2.2 1.8 1.8 1.61.4

0.7

18.7

13.0

12.1

10.2

8.3 7.8

4.2 4.03.1

2.62.2 2.2 2.0 2.0 2.0 1.7 1.6 1.5

1.5

0.6

20.1

TNT ChannelOne

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

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

Other

12M 2013

12M 2014

Growing Audience Shares In “All 10-45” - 12M 2014

Audience shares1, %

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

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



2


13

CTC Media Channels’ Viewership Position

14

13.013.7 13.4

12.111.0 11.3

10.2

2008 2009 2010 2011 2012 2013 2014

2.02.1 2.1

2.7

2.4

2.1

2009 2010 2011 2012 2013 2014

1.51.7

2.42.8 2.8

3.2 3.23.6 3.5

3.3

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

11.6 11.2

15.2 14.7

13.2 13.9

2009 2010 2011 2012 2013 2014

232226

246 243 243

222

249251 257

133142

134

188210

170 169

166160

5 613

2339

47

5866

87

4537

46 5144 40

42 41

40

2006 2007 2008 2009 2010 2011 2012 2013 2014

TV

Radio

Internet

Other

Internet Is Growing But Not at the Expense of TV Viewing

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

*

15

Fragmentation of Russian TV Market Presents Opportunity for Niche Channels to Grow

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

16

10%

15%

20%

25%

30%

35%

40%

45%

50%

55%

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

2-nd Tier Channels’ audience share –

including Domashny, Peretz – is growing

intensively

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

■ Over 80% of CTC Media’s advertisers’ budgets are

coming from multinationals

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

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

17

2013 2014

1 Food and beverages 26% 25%

2 Pharmaceuticals and vitamins 16% 19%

3 Cosmetics and personal care products 19% 18%

4 Other goods 14% 14%

5 Telecoms 7% 8%

6 Retail 4% 5%

7 Auto 4% 4%

8 Appliances 4% 3%

9 Detergents 4% 3%

10 Finance 2% 1%

*

Advertising Sales Structure 2011-2014

Advertisers

Advertising Agencies

Internal Sales Houses External Sales Houses

Everest Sales VGTRK Gazprom-Media / Alkasar Video International

Consultancy services

18

Developing in Attractive CIS, International and Transmedia Markets

10.0 11.9 16.9 23.6 25.8 22.6

FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014

Revenue OIBDA margin

29.7%

Strong Market Positions in Kazakhstan

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

US

$ m

ln

Source: (*) TNS Central Asia

17.4% 21.8%

30.4%

16.2%

Power ratio up to 1.2x from 1.5x

31.0%

20

11.6 11.2 15.2 14.7 13.2 13.9

11%12%

14%

17%

18%

19%

2009 2010 2011 2012 2013 2014

Target audience share Market share

Transmedia: Significant Improvement in Financial Performance

2014

Highlights

Partnerships

Key Projects

284.2

40.8

New customers share in total transmedia revenues in 2014, RUB mln

Total transmedia revenues Revenues from new clients

Significant revenue growth exceeding the Company’s own forecast

OIBDA (including e-commerce revenues) reached breakeven level – around 1 mln rubles

(FY 2013: (57.3) mln rubles)

Notable diversification of the customer base

Odnoklassniki – successfully launched in September 2014

GameInsight - successfully launched in December 2014

Yandex, Vkontakte – under development; expected to be launched in H1 2015

The new season of TV series – Molodezhka (Youth League) - fully monetized through

different digital platforms with total revenue of almost 26 mln rubles

Original Second Screen App successfully launched with new series of the Youth League

10 special advertising projects on CTC Media’s digital platforms successfully completed in

2014

Partnerships

21

*

*

* - pending

(1.8)

0

(57.3)

1

FY 2013 FY 2014

CTC Media Digital OIBDA

US $ mln RUB mln

Entering New Platforms to Be Wherever Our Viewers Are

22

Average monthly users in Q4 2014: 10.7 mln – WEB, 3.2 mln – Mobile

Total coverage in all digital platforms – 13.9 mln unique monthly users

Market Outperformance on the Back of Challenging Market Environment

Q4 and 2014 FY Key Operational Highlights

2014 FY Key

Operational

Highlights

Q4 2014 Key

Operational

Highlights

Total revenue up 3% in ruble terms despite audience share loss and sublicensing revenue slowdown

due to the crisis in Ukraine

Outperformed the market, which grew only 2.3% in 2014

Market share grew from 17.1% to 17.4% despite audience share loss

Managed efficient cost control on the back of challenging market environment

Adjusted OIBDA* margin in line with previously announced guidance – 29%

100% of Group’ s inventory sold through the year

Transmedia business reached OIBDA breakeven with total revenue of approximately 280 mln

rubles, exceeding the Company’s forecast

Revenue was flat YoY with 8.5 bln Rubles

Group’s power ratio hit a record high of 1.86

CarambaTV acquisition for further synergies between the Company’s TV, digital and transmedia

businesses (announced in January 2015)

Management team significantly strengthened with new CFO, new head of strategic communications,

new chief legal officer and new heads of CTC and Peretz channels

Successful monetization of Molodezhka series through digital platforms, with overall revenue of

almost 26 mln rubles for one season

2.3%

3.4%

FY 2014

Russian TV Ad Market vs CTC Media’s Russian channel television ad revenues YoY, Rubles*

Russian TV Ad Market CTC Media

17.1% 17.4%

FY 2013 FY 2014

Group Market Share

Market Share

26.5 27.3

8.5 8.5

RUB Billion

Group Total Revenue

FY 2013 FY 2014 Q4 2013 Q4 2014

24

* Adjusted OIBDA is non-GAAP financial measure that excludes impairment charges of 977.6 million RUR arising from the impairment of goodwill related to the Company’s production unit in the

fourth quarter of 2013, and a 1,651.5 million RUR of charge in the fourth quarter 2014 related to the impairment of Peretz goodwill reflecting a more conservative outlook due to the prevailing

economic uncertainty. Please see financial tables at the end of press release dated March 5, 2015, relating to the Company’s financial results for the fourth quarter and full year ended December

31, 2014 for a reconciliation of operating income, OIBDA to adjusted OIBDA.

Audience Share Performance

CTC channel inventory was fully sold out in Q4 2014

Launch of new premier series with audience shares higher than the channel’s average for the

season: Molodezhka (15.5%), Kitchen (15.2%), Uralskie Pelmeni (15.2%)

#3 most watched FTA channel for the target audience (all 10-45)

Set of new premieres and series scheduled for Q2 and Q3 2015

CTC

Peretz

Domashny

CTC Love

Successful restyle with a new logo and updated visual format – both launched in October

Premier series of “Real Vanga” and “Life after Vanga” with audience share of 4.1% and 3.5%

respectively – in line with the Company’s expectations

Younger audience share growth YoY with 25-50 share growth from 91% to 93%

Ruben Oganesyan joins as Head of Peretz in Q4 2014

CTC Love has been part of the TNS ratings database since September 2014 and is now

able to report its first quarterly ratings metrics

In Q4 2014 CTC Love reached 0.65% of its All 11-34 target audience

10.9

9.7

11.310.2

Q4'13 Q4'14 12M'13 12M'14

3.5

3.1

3.53.3

Q4'13 Q4'14 12M'13 12M'14

2.3

2.0

2.4

2.1

Q4'13 Q4'14 12M'13 12M'14

25

The Company Responded Proactively to Key Market Challenges

Undertook cost cutting initiatives, including optimization the number of employees

Programming expenses to decline in 2015 due to more efficient content purchases and

potential Russian content share growth

Strengthened management team

TV Ad Market

Deterioration in

Q4 2014

New legislation in

Kazakhstan and

national currency

devaluation

Successful changes in the programming grid in prime time slots

Target audience share grew from 13.2% to 13.9% YoY

Adopted flexible and balanced approach to bilingual broadcasting (new legislation requires

at least 50% broadcasting in Kazakh in each 6-hour timeslot)

12.7%

15.3%

13.2% 13.9%

Q4'13 Q4'14 12M'13 12M'14

Channel 31 Audience Share

Audience share All 6- 54 dempgraphic, %

5.9 7.1 190.6

284.2

FY 2013 FY 2014

CTC Media’s Digital Revenue

US $ mln RUB mln

1129 1133

FY 2013 FY 2014

CTC Media Employees

Number of Employees at year end

26

Sublicensing

revenues

slowdown

Revenue diversification through Internet and digital projects

E-commerce project (Sweet Me) revenue grew more than 9 mln rubles in 2014

Transmedia department performance significantly improved on OIBDA level

Update on Response to Amendments to the Mass Media Law

Challenge

Target

Company’s

Response and

Actions

The Russian president signed an amendment to the Russian Mass Media Law in October 2014

The amendments restrict foreign ownership and control of Russian media companies to no

more than 20% starting in January 2016

CTC Media’s current corporate and shareholder structure will not be compliant

The Board of CTC Media established an advisory committee of non-executive directors

The CTC Media executive team is working closely with the State Duma, the Government of

Russia and other industry participants

The international law firm Morgan, Lewis & Bockius LLP and the Russian law firm Egorov

Puginsky Afanasiev & Partners have been engaged as legal advisers

The American consultancy firm Habif, Arogeti & Wynne has been engaged as tax advisers

CTC Media appointed international bank UBS as its financial advisor and professional services

company KPMG LLP as its tax advisor

The Company’s Board of Directors, through its Advisory Committee, is working to identify,

evaluate and implement an appropriate response for compliance while safeguarding the interest

of all of the Company’s stockholders

The Board is considering alternatives that include corporate restructuring, franchising and

licensing structures, capital reorganization and divestments. We have begun to evaluate a

potential sale of all or a substantial portion of our Russian business or of the shares of common

stock of CTC Media

Complying with the law and protecting the interests of our stockholders

27

FY 2013 Transmedia Other FY 2014

4Q'13 Transmedia Other 4Q'14

Total Revenue Composition

28

Diversification across segments helped to withstand weakening market and keep revenue flat in

Q4

Full year revenue up 3% with almost all segments contributing except Peretz

Group Revenue

+2.2% +6.5% +10.1% -6.3% -45.9% 48.9%

+406 +259 -168 +84 +93 +70

mRUB

26 506 27 250

FY 2013 vs FY 2014

Q4 2013 vs Q4 2014

8 458 8 448

-150 +42 +145 -114 +46 +39

-2.5% +3.3% -13.8% +52.6% 42.4% -114.9%

mRUB

4Q'13 Transmedia Other 4Q'14

FY 2013 Transmedia Other FY 2014

OIBDA Composition

29

4Q 2013 vs 4Q 2014

FY 2013 vs FY 2014

mRUB

mRUB

-7,5% -10,4% +4,6% -30,5% -24.5% -85.3%

-539 -111 -176 +12 +49 -94 8 651 7 792

2 343 3 570

-602 -379 +41 -145 -178 +36

-21,1% -82,5% -70,8% +41,6% 516.1% -347.4%

Group OIBDA

Q4 numbers down on flat revenue and more expensive programming, aimed at protecting the

audience share, driving the FY Adjusted OIBDA* down by 10%

Source diversification across channels and growth of Kazakh and digital businesses helped to

smooth down the negative Adjusted OIBDA* dynamics





Cash Flow And Financial Position

Aggregate cash dividends of $109 mln paid in 2014

2014 FY free cash flow of $100 mln

2014 operating cash flow down 44% to $105 mln, which together with investments in PPE, business

acquisitions and dividends led to a reduction in Net Cash to $139 mln

Most of cash balances exchanged into dollars to secure the value of cash during 2014

The FX position of the company is $ 57 mn long as of 31.12.2014

Adjusted net income attributable to CTC Media, Inc. stockholders down 8% to Rub 5,368 mln

Cash dividend of $0.175 per share for the first quarter of 2015. The Board will consider further

quarterly dividends in light of market conditions

Cash Flow

180.2

99.6

207.5

139.4

2013 2014

Group Free Cash Flow and Net Cash Position, US $ mln

Free Cash Flow * Net Cash Position

99 109

0.63

0.7

FY 2013 FY 2014

Group Dividends

US $ mln

$ per share

187 211

187

105

-7 -9

-144 -115

-12 -51

211

142

FY 2013 FY 2014

Cash & Deposits **, US $ mln

Net cash and deposits at the Begining of the Period

Operating activities

Investing activities

Financing activities

Effect of exchange rate changes on cash

Net cash and deposits at the End of the Period

77%

22% 1%

Group Cash Currency Breakdown, at 2014 year end

USD RUB Other

30

* Free cash flow = cash flow from operating activities - acquisitions of property and equipment and intangible assets

** Cash and deposits represent the amount of cash, cash equivalents and short-term deposits.

Operating Expenses

as % of total operating

expenses

as % of total operating

revenues

$624.4 mln $530.9 mln $711.4 mln $832.1 mln

31

54% 57%

41% 42%

28%30%

21% 22%

7%9%

6% 6%

0%

0%

0%

0%

5%5%

4%4%

FY 2013 FY 2014 FY 2013 FY 2014

Depreciation & amortization

Stock-based compensation

Direct operating expenses

SG&A expenses

Programming expenses

Appendix

14.8

13.2

12.4

7.3

6.35.7

4.7

2.9 2.72.1

2.6

1.1

2.11.6

2.01.6 1.2

1.0 0.8

17.5

15.7

12.7

10.6

7.5

5.6 5.4

3.83.2

2.82.4 2.4 2.3 2.2

1.8 1.6 1.4 1.3 0.90.8

18.9

ChannelOne

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

U ** 2X2 Other

Q4 2013

Q4 2014

Audience Shares In “All 4+” Demographic



Audience shares1, %



2


33

14.0

12.9 12.8

7.26.7

5.75.1

2.9

1.1

2.6 2.52.1 2.3

2.0 1.8 1.71.0

0.9 0.8

17.3

14.8

13.2

11.4

6.9

5.9 5.5

4.1

3.1 2.92.5 2.4 2.3 2.2

1.6 1.6 1.41.2 0.9

0.8

18.6

ChannelOne

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

12M 2013

12M 2014

Audience Shares In “All 4+” Demographic



Audience shares1, %



2


34

87%

65%

54%

88%

71%

61%

91%

76%

68%

94%

82%

73%

95%

85%80%

95%

89%84%

95%90%

85%

96%91%

88%

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, %

35

2007 2008 2009 2010 2011 2012 2013 2014 2007 2008 2009 2010 2011 2012 2013 2014 2007 2008 2009 2010 2011 2012 2013 2014

(US$ million, RUB million except per share data) Q4 2013 USD Q4 2014 USD FY 2013 USD FY 2014 USD FY 2013 RUB FY 2014 RUB

Total operating revenues $259.7 $182.2 $832.1 $711.4 26,506.0 27,250.0

Advertising revenues $250.0 $176.0 $806.5 $699.1 25,687.0 26,729.7

Total operating expenses (187.8) (162.2) (624.4) (560.3) (19,886.7) (22,087.6)

Total operating expenses before impairment

loss (157.9) (132.8) (594.5) (531.0) (18,909.1) (20,436.1)

Adjusted OIBDA* 109.9 54.5 270.7 206.5 8,651.2 7,792.4

Adjusted OIBDA margin* 42.3% 29.9% 32.5% 29.0% 32.6% 28.6%

Adjusted net income attributable to CTC

Media, Inc. stockholders** 75.4 48.0 182.2 137.4 5,826.1 5,367.6

Adjusted diluted earnings per share** 0.48 0.31 1.16 0.88 $1.16 $0.88

Summary Income Statement

36





* * All adjusted numbers are non-GAAP financial measures reported before impairment losses of 977.6 and 1,651.5 RUR mln for Q4 and 12M of 2013 and 2014, respectively.. Please see 8-K Form

Press release filed on March 5, 2015 for a reconciliation of adjusted OIBDA to OIBDA

Summary Balance Sheet

(US$ mln) AS OF DECEMBER 31, 2013 USD AS OF DECEMBER 31, 2014 USD

Cash and cash equivalents 30.6 37.8

Short-term investments 180.3 103.8

Total assets 971.0 609.1

including goodwill 135.3 53.6

including broadcasting licenses 59.7 28.4

including programming rights 294.0 185.2

Working capital* 311.9 174.4

Stockholders’ equity 734.1 417.4

Net cash position** 207.5 139.4

* Working capital = current assets - current liabilities

** Net cash position = cash and cash equivalents + short-term investments - total debt

37

Summary Cash Flow Statement

(US$ mln)

FY 2013 USD FY 2014 USD

Cash at beginning of period 55.2 30.6

Net cash provided by operating activities 186.6 105.3

including acquisition of programming and sublicensing rights (378.0) (364.4)

Net cash used in investing activities (63.4) 33.2

including CapEx (6.3) (5.8)

including receipts from/(investments in) deposits (56.6) 41.8

Net cash used in financing activities (143.9) (115.4)

Cash at end of period 30.6 37.8

CapEx (6.3) (5.8)

CapEx as % of total revenue 0.8% 0.8%

Free cash flow* 180.2 99.6

* Free cash flow = cash flow from operating activities - acquisitions of property and equipment and intangible assets

38

Contact Information and Disclaimer

For further information please visit www.ctcmedia.ru or contact: E-mail: [email protected] 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.

• 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 Russia and modifications thereto, ability of

Russian TV ad market to maintain its capacity, TV ad spend in Russia, guidance for FY2014 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.

39

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