Schibsted Classified Media (SCM).Growth PerspectivesSverre Munck, EVP Schibsted ASA

Classifieds matter……

SCM Growth perspectives• Schibsted is a major player already

–Largest online classifieds player in Europe–Broad footprint with top-3 position in each market

• Online classifieds is attractive growth opportunity• Large potential for growth• High profitability once establishing leadership position

• Schibsted has strong ambition to capture this growth opportunity• Focus on classifieds growth in new SCM division• Develop businesses with international initiatives & increasing monetization• New launches based on proven business model• Targeted M&A in key markets and verticals

• Schibsted has strong positioning versus potential competitors

• As a result SCM will be fastest growing unit within Schibsted

Schibsted is largest online Classifieds player in Europe

Note 1: includes FINN.no and 100% numbers for SCM Joint Ventures. Note 2: Excluding Monster Europe; Monster International (non-US) around 350m

33

41

38

37

50

64

52

110

102

146

50

56

57

65

84

94

98

130

136

208

2006

AdenClassifieds

Total Jobs

SeLoger

REA Group

Rightmove

SEEK *

Stepstone

2007

Scout group

Schibsted Classifieds - Online

eBay Classifieds

Annual online classifieds revenues€ million, estimates

Broad footprint top-3 position in each market

Schibsted

GE UK FR SP NL IT BE AT SW DA NO

GeneralistJobsCarsReal estate

eBay classifieds

GE UK FR SP NL IT BE AT SW DA NO

GeneralistJobsCarsReal estate

Scout Group

GE UK FR SP NL IT BE AT SW DA NO

GeneralistJobsCarsReal estate

Heatmap of leading positions in European countries

Top 3 position

SCM Growth perspectives• Schibsted is a major player already

–Largest classifieds player in Europe–Broad footprint with top-3 position in each market

• Online classifieds is attractive growth opportunity• Large potential for growth• High profitability once establishing leadership position

• Schibsted has strong ambition to capture this growth opportunity• Focus on classifieds growth in new SCM division• Develop businesses with international initiatives & increasing monetization• New launches based on proven business model• Targeted M&A in key markets and verticals

• Schibsted has strong positioning versus potential competitors

• As a result SCM will be fastest growing unit within Schibsted

Classifieds business is highly profitable onceestablishing leadership position ...

Source: Company analysis

100%

0%

Size vs second player1x 3-5x 8-10x

EBITDA margin

Desired position50-70%

30-50%

5-30%

... as illustrated by profitability of several dominant players

* 2007/2008

** EBITA for Finn and Blocket/Bytbil

Source: Company reports, Broker reports

40

5248

535256

43

SEEK* REA Australia*

SeLogerFinn JobIndexRightmoveBlocket / Bytbil

EBITDA margin 2007**

SCM Growth perspectives• Schibsted is a major player already

–Largest classifieds player in Europe–Broad footprint with top-3 position in each market

• Online classifieds is attractive growth opportunity• Large potential for growth• High profitability once establishing leadership position

• Schibsted has strong ambition to capture this growth opportunity• Focus on classifieds growth in new SCM division• Develop businesses with international initiatives & increasing monetization• New launches based on proven business model• Targeted M&A in key markets and verticals

• Schibsted has strong positioning versus potential competitors

• As a result SCM will be fastest growing unit within Schibsted

Focus on growth in new SCM divisionSchibsted Classified Media (SCM)Chairman: Sverre MunckMD: Rolv Erik RyssdalRevenues ‘07: NOK 2.0 billionEBITA 2007: NOK 290 million

• Single management unit from April 2008• Defined mandate for growth

1. Develop existing businesses2. New launches3. M&A

• Exchange of resources & competencies

Spain Sweden France Italy Belgium

Austria Lithuania Malaysia Slovenia

Growth lever 1: Develop existing businesses with international initiatives …

PPC advertising

Initiative Description

• Pay Per Click advertising: Placing contextual, sponsored links on our pages

• Search Engine Optimization: Optimizing our sites to get more free search engine traffic

• User Experience: Improving the site functionality (key flows, reducing drop off rates)

• Search Engine Marketing: Structurally improve efficiency of paid search traffic

• Professional Sales improvements: Share optimal sales processes and practices to sell to professional customers

SEO

UEX

SEM

Sales

… and increasing levels of monetization

NascentEmerging leader

Mature leaderStage of growth

Strategicposture

Monetizationlevers

• Become an online starting point for broadneeds

• Select 1 or 2 verticalsfor leadership

• Get vibrancy• ”Leave the pack”

Contextual Advertising

Banners

Listings Features

Contextual Advertising

Banners

Listings Features

Growth lever 2: New launches based on proven business models

1 2 3 4 5 6 7 8 9 10 11Months from start

12 13 14

Users

Growth lever 3: Targeted M&A in key markets and verticals

Market attractiveness(minimum internet population, internet penetration, GDP/capita, Schibsted strength)

Low (e.g.Balkans)

Medium (e.g. KeyEuropean markets)

High (e.g. Norway, Sweden, Spain)

New business (pricecomparison, socialnetworks, ad netw. etc.)

Adjacent (e.g., contentportals, directories, travel, B2C SW)

Core verticals (cars, real estate, jobs)Business

area

Classifiedsgeneralist

Least fit

Best fit

SCM Growth perspectives• Schibsted is a major player already

–Largest classifieds player in Europe–Broad footprint with top-3 position in each market

• Online classifieds is attractive growth opportunity• Large potential for growth• High profitability once establishing leadership position

• Schibsted has strong ambition to capture this growth opportunity• Focus on classifieds growth in new SCM division• Develop businesses with international initiatives & increasing monetization• New launches based on proven business model• Targeted M&A in key markets and verticals

• Schibsted has strong positioning versus potential competitors

• As a result SCM will increase from 25% to >50% of Schibsted

SCM has strong positioning vs potential competitorsAreas for valuecreation in online classifieds

Driving traffic

Schibsted competitivestrength

Improvemonetization

Make traffic more successful (and sticky)

ValuecreationLevers

• SEO• SEM

• IFs• Services• Advertising

• User Exp

• Quality

++

+++++/-

+

++

Cost synergies • Scale• Overhead

++

Brand building • Ability

• Willingness

++

++

Potential competitors

• Global classified players(e.g. Ebay/Kijiji)

• Local classified players• Local leaders• Media companies• Start-ups

• New business models (e.g. aggregators)

• Search engines (e.g. Google)

SCM Growth perspectives• Schibsted is a major player already

–Largest classifieds player in Europe–Broad footprint with top-3 position in each market

• Online classifieds is attractive growth opportunity• Large potential for growth• High profitability once establishing leadership position

• Schibsted has strong ambition to capture this growth opportunity• Focus on classifieds growth in new SCM division• Develop businesses with international initiatives & increasing monetization• New launches based on proven business model• Targeted M&A in key markets and verticals

• Schibsted has strong positioning versus potential competitors

• As a result SCM will be fastest growing unit within Schibsted