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15Capital Markets DayOn track to become the leading digital publisher

Berlin, December 9, 2015

Name: EVENT Login: ASse-2015-Dec

CAPITAL MARKETS DAY 2015 “On track to become the leading digital publisher”

Berlin, December 9, 2015 Axel-Springer-Str. 65, 10888 Berlin Room “Ernst Cramer”, 19th Floor

AGENDA

1 Keynote

Dr Mathias Döpfner, Chairman & CEO

2 Digital Journalism / Paid Content

Ken Lerer, Managing Partner Lerer Hippeau Ventures

3 Financials

Dr Julian Deutz, CFO

4 Paid Models – Shaping the publisher of tomorrow

Jan Bayer, President BILD and WELT Group

5 Business Insider – From startup to #1 business news site

Henry Blodget, Founder, CEO & Editor-in-Chief Business Insider,

Julie Hansen, COO & President Business Insider

6 upday – where journalism and algorithm join forces

Peter Würtenberger, CEO upday

7 Axel Springer’s Digital Classifieds Family – More than the sum of its parts

Dr Andreas Wiele, President Marketing and Classified Ad Models

8 StepStone – Strong growth

Ralf Baumann, CEO StepStone

9 SeLoger – Monetizing the advantage of a specialist offering

Roland Tripard, CEO SeLoger

10 Immowelt & Immonet – Two are better than one

Ulrich Gros, CFO Immowelt

11 Yad2 – Israel’s leader in classifieds

Yavin Gillmore, CEO Yad2

12 Bonial.com – Creating a global leader

Christian Gaiser, Founder & CEO Bonial

13 Summary and Outlook


Disclaimer

The following presentations, which have been issued by Axel Springer SE (the "Company"), comprise the written materials/slides for the Capital Markets Day of the Company, held on December 9, 2015.

Whilst all reasonable care has been taken to ensure that the information and facts stated herein are accurate and that the opinions and expectations contained herein are fair and reasonable, no representation or warranty, express or implied, is given by or on behalf of the Company, any of its directors, or any other person as to the accuracy or completeness of the information or opinions contained in these presentations or of any oral information provided in connection therewith, and no liability, responsibility or obligation is accepted for any such information or opinions.

These presentations contain forward looking statements which involve risks and uncertainties. The forward looking statements speak only as of the date of these presentations and include the Company’s beliefs and expectations and the assumptions underlying them, which may or may not prove to be correct. These statements are based on plans, estimates and projections as they are currently available to the management of the Company. The actual performance and results of the business of the Company could differ materially from the performance and results discussed in these presentations.

The Company undertakes no obligation to update or revise any forward looking statements or other information contained herein whether as a result of new information, future events or otherwise.

These presentations do not constitute or form any part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any shares in the Company, nor shall it or any part of it nor the fact of its distribution form the basis of, or be relied on in connection with, any contract or investment decision in relation thereto.

KeynoteCapital Markets Day – Berlin, December 9, 2015


You can access the webcast of Mathias Döpfner’s speech on our website

www.axelspringer.com/cmd2015

2 Keynote2 Dec. 9, 2015

Digital Journalism / Paid ContentCapital Markets Day – Berlin, December 9, 2015

Ken Lerer, Managing Partner Lerer Hippeau Ventures

You can access the webcast of Ken Lerer’s speech on our website


2 Digital Journalism / Paid Content2 Dec. 9, 2015

FinancialsCapital Markets Day – Berlin, December 9, 2015

Dr Julian Deutz, CFO

Digital activities contribute 73% to group EBITDA

Revenues Advertising Revenues EBITDA

12%

73%

88%

27%

2009 9M/15

30%

81%

70%

19%

2009 9M/15

19%

62%

81%

38%

2009 9M/15

Digital share. (Digital share of EBITDA in 9M/15 would be 80% if Services/Holding was fully allocated to non-digital.) Non-digital share.

2 FinancialsDec. 9, 2015

Classified Ad Models have become mostimportant EBITDA contributor

Axel Springer segment overview (in €m)

9M/15 yoy 9M/15 yoy 9M/15 yoy 9M/15 yoy

Revenues 547.5 53.3% 1,095.4 -3.0% 632.7 12.0% 97.1 -23.2%

EBITDA 225.7 40.8% 137.8 -19.1% 66.1 -13.9% -33.5 -

Margin 41.2% -3.7pp 12.6% -2.5pp 10.4% -3.1pp

Paid Models

Marketing Models

Classified Ad Models

Services / Holding

3

Axel Springer segment overview incl. refined segment allocation1) (in €m)

1) Refined segment allocation will be fully implemented with FY15 publication. 9M/15 and FY14 restated figures available on website.

9M/15 yoy 9M/15 yoy 9M/15 yoy 9M/15 yoy

Revenues 547.5 53.3% 1,130.4 -3.4% 632.7 12.0% 62.1 -27.9%

EBITDA 224.2 42.4% 151.9 -13.0% 64.7 -12.9% -44.9 -

Margin 41.0% -3.1pp 13.4% -1.5pp 10.2% -2.9pp

Classified Ad Models

Paid Models

Marketing Models

Services / Holding

FinancialsDec. 9, 2015

Allocations refined in segment reporting

4

Alignment with current management and business structure (e.g. post FUNKE transaction) – thereby segment results reflect management responsibility

Reflect heightened importance of digital activities

Marketing, sales, logistics, customer service and TV production now allocated to Paid Models (before Services/Holding)

Reduction and adjustment of inter-segment cost allocations

Changes only affect other revenue and EBITDA

Objectives of refinement Changes


0

10

20

Q1/14 Q2/14 Q3/14 Q4/14 Q1/15 Q2/15 Q3/15

in % Organic revenue growth

Classifieds with strong organic growth and high underlying margins

5

21.4%

14.0%

6.8%10.0%

– General/Other– Classifieds

– Real Estate– Jobs

Pro-forma figures based on portfolio in 2014/2015, respectively.

0

25

50

Q1/14 Q2/14 Q3/14 Q4/14 Q1/15 Q2/15 Q3/15

in % EBITDA margin

19.6%

47.8%45.2%40.8%


Ownership of classifieds back to 100% – General Atlantic to become 8.3% group shareholder

6

Axel SpringerPaid

ModelsMarketing

ModelsClassifiedAd Models

GA share 8.3%

As of December, 2015

Axel SpringerPaid

ModelsMarketing

Models

Before December 8, 2014

ClassifiedAd Models

GA share30%

Axel SpringerPaid

ModelsMarketing

Models

Since December 8, 2014

ClassifiedAd Models

GA share15%

December 8, 2014

Acquisition of 15%-stake for €446m in cash

Closing expected in December, 2015

Acquisition of remaining 15%-stake for 9.0m Axel Springer SE shares


Acquisition of remaining GA stake in classifieds

Capital increase of 8,955,311 new shares planned, closing expectedin December, 2015. New share total 107,895,311.

Transfer of new Axel Springer SE shares to GA, representing 8.3% ofnew share base.

GA with lockup of 6/18 months for 50/50% of stake.

7

Transaction overview


Active portfolio management with attractive exits

8

2010 – Q4/15

2013 – Q3/15

9M/15

2011 – Q3/14

>501)

86

262)

53

1) Closing pending and expected in Dec. 15 or Q1/162) Capital gain resulting mainly from sale of Smart AdServer (part of aufeminin group) and Talpa Germany (previously Schwartzkopff TV)

Acquired – Sold Net capital gain (€m)

Σ > €200m


Continuous cost management leads to outperformance of initial cost savings plan

2011 2012 2013 2014 2015 2016

9

Cost savings of >€120m envisaged until 2016 (compared to cost base 2011),not including variable costs related to volume decreases

Reorganization of editorial departments BILD

Reorganization of editorial departments BILD

Comprehensive optimization program for printing plants

Comprehensive optimization program for printing plants

Merger of editorialunits BILD Berlin/B.Z.Merger of editorialunits BILD Berlin/B.Z.

Merger oflogistics anddistributionunits

Merger oflogistics anddistributionunits

New IT Help-desk providerNew IT Help-desk provider Centralization of IT

operations in BerlinCentralization of IT operations in Berlin

Reorganizationof print salesfunction

Reorganizationof print salesfunction

Spin-off ofprintingplants

Spin-off ofprintingplants

Merger of pre-press operations(BILD and WELT)

Merger of pre-press operations(BILD and WELT)

Centralization ofprocurement functionCentralization ofprocurement function

Top-down savings programfor all central unitsTop-down savings programfor all central units

Restructuring ofcall centeroperations

Restructuring ofcall centeroperations


Leverage still within comfortable limits, attractive financing secured

€1.200m revolving credit facility (partly drawn, maturity 2020)

€300m term loan (maturity 2020)

€637m promissory note/Schuldschein(maturity 2016/18/20)

Average interest rate currently 1.2%

Inflows

Strong free cash flow generation

€257m loans related to sale of assets to FUNKE Media Group (payments within 2-year period starting 2018)

€225m sale of stake in Do an TV (payments in 2016, 2020, 2022)

Outflows

Put-Call-Options following acquisitions, volume expected to be ~€50m for 2016

Attractive financing Future cash flows

1) Excl. pension liabilities. 2) Based on Bloomberg EBITDA consensus for FY 2015.

Net financial debt1) expected to be ~€1.150m at year-end 2015 (leverage of ~2.0x2))


Adjusted eps up by 9.0% in 9M/15 –low double-digit growth for FY 15 expected

228.9186.0

257.9

198.8

Adjusted net incomeNet income

9M/159M/14

Net income from continuing operations in €m

1.78 2.20 1.47 1.60

2.20 eps 1.60 adjusted eps


2015: Strong performance and digital transformation accelerated

Group financials reflect successful digitization1

Classifieds – excellent growth, high margins, creating a strong N° 2 in German real estate and back to 100% ownership2

Investment in Business Insider as core element of our digital content strategy3

Active portfolio management – attractive exits4

12

Continuous cost management and attractive financing further improved5


Paid Models – Shaping a publisher for tomorrowCapital Markets Day – Berlin, 9 December 2015

Jan Bayer, President BILD and WELT Group

2

Since 2013: comprehensive portfolio realignment, reorganization and cost reduction

Shaping a publisher for tomorrow

2013 20152014

Dec. 9, 2015

Snapshot #1: Despite decreasing circulation –stable contribution margin at BILD

3 Dec. 9, 2015

100 92 85 75

2012 2013 2014 2015e

100 98 100 98

2012 2013 2014 2015e

100 96 95 91

2012 2013 2014 2015e

-25%

-9%

-2%

Circulation

(2012 = 100)

Circulationrevenue

(2012 = 100)

Contributionmargin

(2012 = 100)

Note: Contribution margin = circulation revenues less paper and production costs


4

Snapshot #2: Reduction in production costs clearly exceeds decreases in print volumes

Dec. 9, 2015

58

15

10

19

BILD BamS B.Z. WELT WamS

Delta production cost reductions/decrease in print volumes in percentage points (2014 vs. 2005)

5ppt

10ppt

15ppt

20ppt


Snapshot #3: Printing facility staff reduced by >300 FTEs since 2010 – with further potential

5 Dec. 9, 2015

984937

880821

741675

0

400

800

1200

2010 2011 2012 2013 2014 Jul 15 2020

Printing facility FTEs


Snapshot #4: Production staff reduced by almost 1/3 in line with printing facilities

6 Dec. 9, 2015 Shaping a publisher for tomorrow

149142

133 131 131

110

0

40

80

120

160

2010 2011 2012 2013 2014 Oct '15 2020

Production FTE

Snapshot #5: BILD print staff consistently aligned with market conditions

7 Dec. 9, 2015 Shaping a publisher for tomorrow

100 97 96 96 98 94

2010 2011 2012 2013 2014 10/2015

100 117 125 152 194 217

2010 2011 2012 2013 2014 10/2015

100 96 94 92 90 85

2010 2011 2012 2013 2014 10/2015

-6%

-15%

+117%

BILD Group Newsrooms(FTEs)

(2010 = 100)

BILD Print, Newsroom(FTEs)

(2010 = 100)

BILD Digital, Newsroom(FTEs)

(2010 = 100)

Additional significant cost reduction potential

8 Dec. 9, 2015

• Efficient circulation management across all titles

• Continuous optimisation of our printing locations &

our printing network

• Dynamic streamlining and realignment of staff across

the entire value chain


9

Positive development of TV advertising revenues at N24: 2015 a record high

Dec. 9, 2015

104113

100 97108 107

0

25

50

75

100

125

2010 2011 2012 2013 2014 2015e

TV advertising revenues at N24 (2010 = 100)

Acquisition

+9%


10

Continuing positive trend in digital paid content offerings

Dec. 9, 2015

209240 253 260 282 293

53

5658 64

6670

262

296311

324348

363

0

100

200

300

400

Q2/14 Q3/14 Q4/14 Q1/15 Q2/15 Q3/15

274 258

196

SZ FAZ FCB

Digital paid content subscribers (in thousands) (IVW) Comparison subscribers/members(in thousands)

Print Print


5.10.15 7.10.15 9.10.15 11.10.15 13.10.15 15.10.15 17.10.15 19.10.15

11

Anti-adblocker initiative: Successful kick-offleads to increase in marketable reach

BILD users with active adblockers (in %), Desktop

-70%

Dec. 9, 2015 Shaping a publisher for tomorrow

12

We are shaping our markets (1/2):Start of TV marketing with Viacom1

Dec. 9, 2015

51% 49%

1. Subject to anti-trust approval by the German cartel authority


13

We are shaping our markets (2/2): Sales Impact#1 retail newspaper distributor in Germany

Dec. 9, 2015 Shaping a publisher for tomorrow

14

Outlook 2016

Dec. 9, 2015

Effects of 2014/15 cost reductions

Continuing clear focus on costs

Accelerated digital transformation


Axel Springer Capital Markets DayDecember 9, 2015

Henry Blodget, CEO & Editor-in-ChiefJulie Hansen, President & COO

SMART STORYTELLING FOR THE DIGITAL GENERATION 2

2007

2015

2016

WHAT YOU NEED TO KNOW 3

A global digital news organization that delivers high-impact, smart business stories with a focus on key verticals: tech, finance, markets, geopolitical affairs, and management

strategy — for a new generation of leaders.

Source: comScore Multiplatform Report, October 2015. Excluding Yahoo! Finance

NO. 1 US BUSINESS SITE

38MM US Uniques: Desktop and Mobile

0

5

10

15

20

25

30

35

40

45

50

Jan 14 Mar 14 May 14 Jul 14 Sept 14 Nov 14 Jan 15 Mar 15 May 15 Jul 15 Sept 15

Business Insider

AOL Money & Finance

Bloomberg Network

CNBC.com

CNNMoney.com

Economist.com

Financial Times

Forbes.com

WSJ Network

Mon

thly

Uni

que

Visi

tors

in m

illio

ns

4

Source: comScore Key Measures, UK edition, October 2015.

NO. 1 IN UK ALSO

0

1

2

3

4

5

Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 Jul-15 Aug-15 Sept-15 Oct-15

Business Insider

Bloomberg.com

Economist.com

Forbes.com

FT.com

Guardian Business

WSJ.com

Quartz.com

Mon

thly

Uni

que

Visi

tors

in m

illio

ns

4MM UK Uniques: Desktop and Mobile

5

Source: Ooyala, Facebook, YouTube, MSN, Yahoo

TREMENDOUS VIDEO GROWTH

Mon

thly

Vid

eo V

iew

s

486MM monthly views across all platforms

6

Source: NewsWhip (June 2015); Reflects sum total of likes, comments, shares, Retweets, replies, and favorites

0

500

1000

1500

2000

2500

3000

3500

4000

4500

5000

Business Insider The Wall StreetJournal

Forbes Quartz Harvard BusinessReview

Financial Times

Thou

sand

s

Social Interactions (Facebook & Twitter)

CONTENT OPTIMIZED FOR SOCIAL 7

LARGEST US BUSINESS NEWS SITE 8

Sources: 1comScore Media Metrix (October ); 2Google Analytics (October 2015)

#1Largest US business

news site1

38MMUS Uniques1

40%Sessions from social2

55%Mobile + Tablet Traffic1

LAUNCHED IN 2015 9

Created for the digital generation, Tech Insider tell stories through the lens of technology, science, and digital culture, exploring the

innovations that are changing the world.

Typical Tech/Science Publication Target:

• Techies

• Scientists

• Small vertical communities

Tech Insider’s Target:

• Digital generation

• Smart people fascinated by the world around them

• Consumers who care about how technology, science, and innovation are changing our world

TECH INSIDER’S AUDIENCE 10

11

Sources: 1comScore Multiplatform (October 2015); *includes on-site and off-site streams (e.g. Facebook, YouTube, etc.)

5MM+global uniques1

190M+monthly video streams*

1MM+Facebook Fans

67%Mobile/tablet1

65%Users from social1

12REACHING MILLENNIALS

71%58% 56% 51% 45% 41%

16%

22% 23% 25%28% 28%

12% 19% 19% 20% 26% 29%

DIGITAL AUDIENCE COMPOSITION:

P50+

P35-49

P18-34

IndexP18-34 238 194 186 172 149 136

LAUNCHING IN 2016 13

Amazing stories about what you actually want to know, delivered to you where you already are, when you want it, in

ways that take full advantage of the digital medium.

500K+Facebook Fans

135MM+monthly video

streams1

Introduced on social September 2015

1Source: Ooyala, Facebook, YouTube, MSN, Yahoo

14

DISTRIBUTED PUBLISHING

BI content is distributed on all major

social platforms including:

• Apple News

• Facebook Instant Articles

• Flipboard

• LinkedIn

• Instagram

• Tumblr

15

BI FILMS

BI Films extends Business Insider's massively popular original short-form video content into the realm of web series, shorts, and feature-length documentaries.

IKARIA:Secrets Of Long Lives Lived Well

LEAGUE OF MILLIONS: Inside The Gaming Phenomenon

Upcoming:

Web Series ShortsDocumentaries

16

1717BI INTELLIGENCE

Research For The Digital Age

BI Intelligence is a premium research, offering subscribers business intelligence for the digital age.

We provide actionable insights that enable smarter and better informed decision making.

Mobile — Payments — Digital Media — E-Commerce — IoT

1818

500

1000

1500

2000

2500

3000

3500

4000

4500

5000

06 Jan 12 06 Jun 12 06 Nov 12 06 Apr 13 06 Sep 13 06 Feb 14 06 Jul 14 06 Dec 14 06 May 15 06 Oct 15

Individual Enterprise

BI INTELLIGENCE

Growing through B2B and B2C subscriptions

19

IGNITION brings together the brightest minds in media and technology to share what they see on the horizon. Through unscriptedinterviews, cutting-edge demos, and insights from industry pioneers, attendees learn about the key trends to be aware of and what they need to do to stay ahead of the digital game.

December 8-9, 2015 Time Warner Center, NYC

December 8-9, 2015 Time Warner Center, NYC

IGNITION: Future Of Digital

19

KEYS TO OUR SUCCESS

We started with a simple theory…

• New medium

• New “native” storytelling and distribution

• Focused 100% on digital

• Didn’t try to mimic print or TV

• Fast, informative, smart, social

20

DIGITAL JOURNALISM

180 digital journalists in New York, San Francisco, London, remote posts

Proprietary content management system, “Viking”

Relentless innovation in formats and digital story-telling techniques

Embracing social and mobile

21

FUTURE PLANS

Subscriptions

International

22

SUBSCRIPTIONS

In addition to ambitious growth plans for Business Insider Intelligence, we plan to test a consumer subscription in 2016.

Details are still being worked out.

We believe subscriptions will be a good option for ad-blockers.

23

AD-BLOCKING

Ad-blocking remains steady at nuisance but not crisis level.

We have not seen an increase from mobile ad-blocking apps in Safari.

We are monitoring it closely and will evaluate “ad recovery” and other steps to thwart ad-blocking, including the Bild ad-blocking project.

0%

4%

8%

12%

16%

20%

18 Sep 23 Sep 28 Sep 3 Oct 8 Oct 13 Oct 18 Oct 23 Oct 28 Oct 2 Nov 7 Nov 12 Nov

Business Insider Tech Insider UK Business Insider

24

INTERNATIONAL

There are currently 9 BI “editions”

2 O&O

7 active licenses + 1 rep agreement

3 licenses not yet launched

6 new territories in active discussions

Business Insider editions:

25

OPPORTUNITIES WITHIN AXEL SPRINGER

Partnership with Finanzen.net:

Business Insider Deutschland Market Data functionality on Business Insider US

26

OPPORTUNITIES WITHIN AXEL SPRINGER

Partnership with ONET to publish Business Insider Poland, launching in 2016

Exploring other territories as well

27

upday - where journalismand algorithm join forces

Peter Würtenberger CEO updayBerlin, December 9, 2015

upday is currently available for flagship and select non-flagship Samsung smartphones in its beta version at Google Play (restricted to Samsung devices) and the Samsung App Stores in Germany and Poland.

Megatrends in news consumption

Always on

Debundling

Relevance

MobilePublishing

Distributionof Content

Personalized

Recommendations

Source: Reuters Digital News Report 2015

NewsRepublic

FlipboardFacebook Notify

Apple News

2

Social Media as source of newsTypes of news content accessed weekly

Smartphone news use 2012 - 2015

28

%

28

%

20%

21

%

28

%

29

%

24

%

22

%

31

%

33%

35

%

32

%

44

%

42

%

37%

34%

USA UK FRANCE GERMANY

2012

2013

2014

2015

30%

23%

19% 23%

40%

36%

34%

25%

USA UK FRANCE GERMANY

2014 2015

• World market leader Consumer Electronics• Smartphone market share in Europe 35% /

50M units sold p.a. (for reference: Apple market share 21%)*

• Engineering excellence• Distribution network via own and third party

retail channels and telcos

3

Tech... ...meets media

A true strategic partnership (announced 09/2015)

• The leading digital publisher in Europe• > 100M. Unique Users within Europe• 73% of the total group’s EBITDA and 81%

of the ad revenues are digital **• Journalistic excellence• Pioneer in digital transformation of

advertising and paid content

Symbiosis of complementary competencies of both parties*Source: http://www.counterpointresearch.com/q12015mobilemarket - Q1/15 figures** 9M/15 Results

What is upday – and what are its USPs

Recommendation by Man & Machine

Single Source for ALL News

Top NewsCarefully selected &

summarized byeditorial team

My NewsUpdates based on learning algorithms

Access to all kindsof Digital Sources

Premium Content

News brands, blogs, videos, social

Access behindselect paywalls

Symphony Concept

Compilation ofMy-News-stream

„Journalistic“ andsymphonic

Leaning back, feeling updatedand entertained

upday provides the best available international news content matching personal interests, exclusively to Samsung users

4

Live-Demo

5 5

RecommendationJournalists + Algorithm

PublishersGet most relevant users

AdvertisersGet most relevant customer

UsersGet most relevant information

NEWS

(Paid content*)

6

The upday ecosystem

* Paid Content introduction: Planned for late 2016

Publishers Advertisers

Approaching a targeted audience with non intrusive ad-formats

Reaching new audiences in an ad-blocker-free environment

Creating opportunities for publishing partners and advertisers

The -HighwayGetting direct access to the customers of the market

leading smartphone manufacturer

Ad-block-free environmentContent will be displayed in an upday-proprietary

browser, which does not permit ad-blocking.

Articleteaserview in upday

Full mobile viewoutside upday but displayed in upday-proprietarybrowser

Desktop ad $ decline as mobile grows(US, in bn. USD)

Rev

enue

in b

n. U

SD

7

upday advertising concept

Desktop ad $ decline as mobile grows(Market Analysis on USA, in bn. USD)

* includes other internet-connected devices I Source: eMarketer, March 2015 I WSJ.com

Desktop ad revenues

Mobile ad revenues

Rev

enue

in b

n. U

SD

8

• Demographics• Categories• Behaviour• Location• Weather

The upday advertising concept

TargetedAudience

DistributionChannel

Format

DirectSales

Display Native Video

Program-matic

Sales

Display Native Video

9

Countries Devices

Opportunities to scale business and reach

Positioning

upday is currently available for flagship and select non-flagship Samsung smartphones in its beta version at Google Play (restricted to Samsung devices) and the Samsung App Stores in Germany and Poland.

10

Axel Springer’s Digital Classifieds FamilyMore than the sum of its partsCapital Markets Day – Berlin, December 9, 2015

Dr Andreas Wiele, President Marketing and Classified Ad Models

Our Classifieds Portfolio 2005 - 2008:Two low-margin businesses

2

* Stepstone consolidated at-equity

Dec. 9, 2015 Axel Springer’s Digital Classifieds Family

-2

-7-6

1

2005 20082006 2007

EBITDA (in €m)*

Our Classifieds Portfolio since 2009:Strong organic and anorganic growth

3

512

403330

223

10851

218164134

65174

2015e2010* 20122011* 20132009* 2014

EBITDA (in €m)Revenues (in €m)

* Unaudited figures


Principle 1: Founders/„Hired Founders“ first

Retain founders with equity or

establish highly incentivized management teams

Trustful partnership: “long-leash-policy”

Smart Synergies

Operational Independency

4

Headquarter

Founder


Majority of Axel Springer’s classifieds assets areled by the founder or the hired founder teams

5

4 Founder Teams 5 „hired Founder“ Teams 3 new Management Teams

Previous owner: Big corporation

Founder Exit


Principle 2: Value-adding Portfolio Management

Only compliance-relevant corporate services are mandatory

(Financial Reportings , Audit , Tax etc.)

All other corporate services have to be „sold“ to Portfolio Companies

Portfolio Companies are required to „listen“ and buy-in if truly beneficial

Clear focus on value-adding activities

6 Dec. 9, 2015 Axel Springer’s Digital Classifieds Family

Adding value over time: Short term

• Example: Over 300 partners with corporate framework agreementsPurchase

• Example: Leverage reach of all AS sites for new assetsTraffic

• Example: Temporary support and expertise within functions like M&A, legal, IT and many moreResources

• Example: Create network to exchange experience in topics like SEO, Social, MobileKnow-how

7 Dec. 9, 2015

Short term Mid term Long term

Axel Springer’s Digital Classifieds Family

Deep Dive Example: Know-how exchange is thebest synergy

Best-practice expertise

Over 45 Expert rounds, Workshops and Summits in the areas of Product, Technology, Monetization, Reach, Strategy, M&A, HR and Finance

Peer-to-peer-network

i.e. CTO Workshops, Communication Conference, Marketing Roundtables, Executives Dinners

Corporate-to-peer-network

i.e. Management Summit, CxO Summit, Townhall Meetings

Post-merger integration

Share and reapply best practice for each function and department


Adding value over time: Mid term

• Example: Cooperation and Integration of Immowelt in Meinestadt.de, joint sales Bonial* and Media ImpactRevenue

• Example: Add-on acquisitions for @leisure, Stepstone, Yad2, ImmoweltM & A

• Example: Launch of Jobim with Yad2, Axel Springer Plug & Play Accelerator (Jobspotting, Karosso, Rentse, Retravel, Linkedage, getjob, room.me, Zizoo, instaff...)

Disruption

• Example: COO Bonial, COO Idealo, COO Stepstone, MD Stepstoneare all former Axel Springer portfoliomanagersHR

• Example: Joint Development Center for Immoweb and Stepstone in PolandInfrastructure

9 Dec. 9, 2015


* Example for synergies with our marketing models


Dec. 9, 201510

Deep Dive Example: Joint development centerfor Stepstone and Immoweb

>190 FTEs


Adding value over time: Long term

• Example: In-depth business and market understanding, betterjudgement in M&A processes

Market Knowledge

• Example: Operational and geographical infrastructureScale

• Example: Efficiency through one platformTechnical Platform

• Example: Single-Sign-On, Unified Smart DataBusiness Platform

11



Deep Dive Example: Business platform throughunified smart data and single-sign-on

Dec. 9, 201512

userprofiles

Potential benefits:

Personalized offers andproducts

Cross-traffic generation

Cross- and up-selling

Data driven ad sales


www.stepstone.com

Ralf BaumannCEO StepStone9th December 2015

StepStone – Strong Growth

www.stepstone.com 22

Agenda

Market Update

Company Update

Performance & Growth Details

Outlook



McKinsey investigated the future of online talent platforms

Matching individuals with traditional jobsMatching individuals with traditional jobs

Post full-time or part-time jobs

Create online resumes of individuals

Search for talent or work





Matching individuals with traditional jobsMatching individuals with traditional jobs Talent managementTalent managementOnline marketplaces

for contingent workOnline marketplaces for contingent work

Post full-time or part-time jobs

Create online resumes of individuals

Search for talent or work

Connect individuals and freelance work

Facilitate transactions via transparent reputation

Assess candidates and fit

Personalize talent management

Optimize team formation and matching

McKinsey investigated the future of online talent platforms – and divided the market into three segments

StepStone market position


-10%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

Reve

nue

Gro

wth

201

4/20

15 H

1

Revenue Index (average revenue 2014 in € = 100)

eSourcing Companies: Revenue Growth ‘14-H1/’15-H1(in local/reported currency)


Continued growth above market peers

Note: Xing and LinkedIn include recruitment solutions only (i.e. excl. subscriptions and general advertising), Seek (AU) includes “Seek Domestic” revenues (i.e. eSourcing in Australia) // Source: Company reports

US+AmericasAPAC

Int’lEurope

Jobindex

Monster Worldwide

LinkedIn

Seek

StepStone

Indeed

DICE

Zhaopin Online

JobsDB Brasil Online

OCC

Xing

Naukri

51Job

’07-’13

’13-’14

500200100500 150 250



How aggregators work…!



How aggregators work…!

Revenue SourcesRevenue Sources

Google AdSense

• Host of pay-per-click ads on Indeed’s websites. Ads usually appear next to job search results

Google AdSense

• Host of pay-per-click ads on Indeed’s websites. Ads usually appear next to job search results

Direct Sales

• Direct approach of recruiters / employers to sell spon-sored links / form partnerships

Job board traffic expenses

• Job boards acquire traffic from Indeed via sponsored jobs on a pay-per-click basis

Job board traffic expenses

• Job boards acquire traffic from Indeed via sponsored jobs on a pay-per-click basis

1 2 3

~ 50% of revenue ~ 30% of revenue ~ 20% of revenue



LinkedIn highlights the renaissance of job boards



LinkedIn highlights the renaissance of job boards

Global quality of hires Global quantity of hires

Question: Think about your key quality hires in the past 12 months. Which were the most important sources?

Question: How significant were each of the following as a source of white collar professional for your organisation in the last 12 months?

Source: LinkedIn Talent Solutions: 4th annual report “2015 Global Recruiting Trends”



StepStone customer with hiring focus in IT and engineering proves strong StepStone performance

350

3040300225

0

375450

0

825

0

340150

0

450

1,700

3,700

2,700

Social Network 1 StepStone Job Board 2 Job Board 3

+118%

Social Network 2Job Board 1

9M 2013

9M 20159M 2014

% 2015 75% 12% 0% 4% 9% 0%

Job Listings


Applications per Job Ad in Germany


StepStone by far with highest resonance and quality of applicants

15.6

3.3

5.1

6.0

2.2

x 2.6

x 3.1

x 4.7

x 7.1

2013

Competitor

Competitor

Competitor

Competitor

2015

17.4

3.5

4.6

3.3

x 2.7

x 3.8

x 5.0

x 5.3

6.5

Source: TNS Infratest

2014

19.0

5.3

5.4

3.7

x 3.2

x 3.5

x 3.6

x 5.1

5.6


A portfolio of leading brands


StepStone countries & brands

Germany

UKBelgium

Ireland

South Africa

Austria

France

Northern Ireland

Luxembourg

Central America

Caribbean

Mauritius

20countries

1,500employees

95%+of revenue from #1 positions

60,000customers

500,000Listings p.m.

44,000,000Visits p.m.

Source: Internal measurement




65,000customers

60,000

Total size of our UK & GER markets:

>600,000potential customers (>10 employees)




StepStone countries & brands

Germany

UKBelgium

Ireland

South Africa

Austria

France

Northern Ireland

Luxembourg

Central America

Caribbean

Mauritius

20countries

1,500employees

95%+of revenue from #1 positions

60,000customers


44,000,000Visits p.m.

Source: Internal measurement

1,800employees

65,000customers


49,000,000Visits p.m.

1,500

60,000

500,000

44,000,000


Solid revenue growth since 2004 with average growth of 30% p.a. and only one year (2009) with declining revenue


Note: consolidated revenue StepStone Group (schematic)

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

262.2

256.4

198.9

9 months:



StepStone group revenue 9M 2015

StepStone revenue doubled since 2012 due to balanced organic and inorganic growth strategy

Continued investment in UK candidate delivery (website conversion and online traffic)

Continuous product update in all markets

Leveraging UK jobboard cooperation through multi-brand strategy in UK markets

Ongoing optimisation of sales structure and organisation

Overall EBITDA-margin of 44.9% including acquisitions with lower margins

2015 – Growth Highlights

Revenue9M 2015

Organicgrowth

Inorganicgrowth FX-effects

262.2

9M 2014:185.4



StepStone M&A activities are unraveled into three components

Job Boards“more of the same”

Objective

Profit enhancement through leveraging

operational excellence

Approach

#1 or #2+ with potential

Leverage know-how and capabilities

Approach

Know-how acquisition

Speed up time to market

Accelerate own growth

Objective

Enhancing our existing product portfolio

Approach

Business diversification

Speed up time to market

Accelerate own growth

Objective

Leveraging disruptive potential

Capability investments“enhance our job board”

Disruptive HR“long-term sustainability”


40 companies visited

Deep understandingof current R&D

in Start-ups

400 companies researched

Holistic overview oftrends and upcoming

HR related innovations


Screening of US market did not show any surprising developments

0 Highly disruptivethreats found

Ideas for technological advancement and product

enhancements



FC 201520142013

4,7%

6,4%

8,0%

StepStone sets up for future growth – Transformation into a high-tech organisation with focus on Product and IT development

67

122

10

136

FC eoy 2015 1.804

ITdevelopment

Other

eoy 2014 1.469

Productdevelopment

Sales andCustomer Service

Revenue

Capex

Development HeadcountDevelopment Revenue and Capex

779

82

241

377

+15%

+12%

+51%

+18%



Widening of our E-Sourcing activities increases coverage of hiring process and adds value to all stakeholders

Start job search

Job matching

Browse jobs

Researchemployer

Research salary

Interview

Apply

Hire

Personal development / Career Advice

Product PortfolioToday




Start job search

Job matching

Browse jobs

Researchemployer

Research salary

Interview

Apply

Hire


Project Skylight

Salary information and comparison

Useful insights for job seekers into corporate culture and working atmosphere

Reviews are open for comments and help employers to build a more truthful picture

B2B Pilot in Ireland ongoing

Product PortfolioToday




Start job search

Job matching

Browse jobs

Researchemployer

Research salary

Interview

Apply

Hire


Staying true to our candidate centric approach to enhance user experience and customer satisfaction

Developing new products and services to satisfy market demands

Working towards the main goal: match the right candidates with the right jobs

Future ProductPortfolio



Defining the future scope of talent platforms McKinsey states:



Defining the future scope of talent platforms McKinsey states:

In 2025, online talent platforms can increase global GDP by 2%

$ 2,700,000,000,000

We will shape the future…


…and get our fair share!


Growth will come from:

Penetration of existing markets (‘long tail’) Enlargement of

product portfolio along

our core business

Higher demand within firms to get support in finding the right talentFurther development of

market position

Relevant acquisitions

4

2

3

1

5

…and get our fair share!

Monetizing the advantageof a specialist offering

Roland Tripard, CEOAxel Springer Capital Markets Day

Berlin, December 9th, 2015

2

A specialist offer dedicated to answer every housing needand serving professionals needs

More to come…

3

Leading the game of innovation to better serve consumers

4

Offering innovative new services to professionals

Services provided with the new SeLoger Pass Previous offer

Show your professionalism Agents directoryNew Directory Premium placement

Agent logoLink to Agent site

Race to mandates New Leads from potential sellersNew Automated valuation toolNew Promotion kit

Sold propertiesFind buyers and tenants Classifieds listing Listings on SeLoger and partners

Listings in email alertsListings on Immostreet and partners

New Boost alertsClassifieds New Premium placement Golddifferenciators New Premium placement Silver

Exclusive mandate FlagContacts management Potential buyers leads

Profiled leadsNew Matching mandates / buyers-tenants

Effective ways to journey New Listing certificate with performancewith the sellers New Landscape of similar properties

New Market intelligenceChange in price Alerts

Manage your business New Performance recordsNew Listings dashboard and statisticsNew New back-office interface

5

Market intelligence tools empower professionals…

Select an area Select type of

transaction…

… and type of property

Then, compare global offer with demand

6

…by offering in-depth view by segment of users demand

See demand per type of property / surface

7

Allowing agent to compare his portfolio withcompetition and market demand…

Agent portfolio Competitorsportfolios

Browsing of the users

Breakdown of listings by type of property

8

…with many different criteria

Breakdown of listings by number of rooms

Breakdown of listings by surface

9

Delivery of performance with record high leads

0

50

100

150

200

250

Jan-Oct 2014 Jan-Oct 2015

Cum

ulat

ed v

isits

in m

illio

n

Traffic Mobile

Desktop

21212222232324242525

Jan-Oct 2014 Jan-Oct 2015

Cum

ulat

ed le

ads

in m

illio

n

Leads

-2%

+25%

+10% +13%

Source: Company – SeLoger website only

10

Increasing engagement with users

0K

100K

200K

300K

400K

500K

600K

700K

X 2.2

Monthly email alerts subscriptions

Source: Company

11

Big volume of leads but also big value per lead

1,500 EUR per month

200,000 EUR

< 500 EUR per month

Source: Rapport étude quantitative – June 2014

Main generalistCompetitor

Value of the average Buy search

Value of the average Rent search

400,000 EUR

12

Quick adoption of the new offers

Source: Company

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Sep 14 Okt 14 Nov 14 Dez 14 Jan 15 Feb 15 Mrz 15 Apr 15 Mai 15 Jun 15 Jul 15 Aug 15 Sep 15 Okt 15

Migration of customers to new offers and tariffs

Migrated customers New customers Price adjustment Customers to migrate

13

…and delivery of more and more useful options

0,0%

5,0%

10,0%

15,0%

20,0%

25,0%

30,0%

% from 0 to 100€

% from 100 to 200€

% from 200 to 250€

% from 250 to 300€

% from 300 to 350€

from 350 to 400€

from 400 to 450€

from 450 to 500€

from 500 to 600€

from 600 to 800€

% over 800€

Breakdown of customers per ARPU rangeSeLoger only

Dec-12

Mar-13

Jun-13

Sep-13

Dec-13

Mar-14

Jun-14

Sep-14

Dec-14

Mar-15

Jun-15

Sep-15

Source: Company

14

How it translates into ARPU… despite market conditions

376393

419

455

500

564

411

439

470

515

565

639

Dec 2010 Dec 2011 Dec 2012 Dec 2013 Dec 2014 Oct 2015Datenreihen4Datenreihen3

+75€

+35€

EUR monthly

Source: Company -14%

-1% -3%

8%

-20%

-15%

-10%

-5%

0%

5%

10%

2012 2013 2014 2015

Change in total transactions (residential)

15

Positive impact of better market conditions already visible on estate agents revenues

Source : Commissariat Général au Développement Durable

Annualizedtrend : +1.5%

Source : Syndicat National des Professions Immobilières SNPI, Q2 2015

Quarterly revenue of French estate agents (resale fees)

16

Source : Commissariat Général au Développement Durable + INSEE

August 2015 : 740 k

And better market conditions ahead

Last 12 months resale transactions( Base 100 = December 2000)

1

Immowelt & Immonet

Two are better than one

Ulrich Gros – CFO of Immowelt Capital Markets Day, Dec 9th 2015

22

Immowelt & Immonet: two leading online real estateportals in Germany – competitors until 2015

Focus on Germany

270 employees 250 employees

located in Nuremberg located in Hamburg

Founded in 1991,launched in 1996 Launched in 2003

two powerful brands

both equal #2 in the market

two competitors

33

Contracts were signed in February, integration started in July after antitrust approval

COLOGNEBERLIN MUNICH

IMMOWELT FOUNDERSNUREMBERG

IMMONET GMBHHAMBURG

IMMOWELT AGNUREMBERG

IMMOWELT HOLDING AGNUREMBERG

55% 17.5% 17.5% 10%

100%

Note: simplified illustration

SHAREHOLDER STRUCTURE

44

Joining forces provides advantages Two are better than one!


Employees(headcount)

Know-how(skills & experience)

DIMENSION &

+ PARTNERSHIP+ PERSONAL CONTACT

+ INNOVATION+ PROFESSIONALISM

Branding(budget)

+ FOCUS & REACH+ AWARENESS

+ SERVICE LEVEL + SERVICE DEPTH

Processes(value chain depth)

Technology(usage)

+ MUCH FASTER+ SCALE & EFFICIENCY

Software(engineering effort)

+ BEST OF 2 WORLDS+ SCALE

55

Redressing the balance on the market:Creating a strong alternative

Agents

Developers

Housing Industry

Banks

PrivatePersons

Consumers

Investors

Developers

…

Supply Demand


other

6

Currently we are running the biggest campaign in the company's history

83%MORE

VISIBILITY

BRAND AWARENESS

Source: Innofact AG, May 2015 – Oct 2015

77

Immowelt - Branding is already paying off

Immowelt with strong traffic surge in 2015 –visits have grown by nearly 30% year-over-year

DemandSupply

Monet ize

Q3 2015

Visits onImmowelt

Q3 2014

+29%

Source: Immowelt (Adobe Analytics)

88

Immowelt & Immonet: A perfect fit on demand side

1) Graphs show search volume of top 10 regions in relation to peak region on the map normalized at 100 (IW&IN values added)Sources: Google trends, Nov. 2015

Demand: increased nationwide coverage through combination

Search volume per region

D a r k e r s h a d e = h i g h e r s e a r c h v o l u m e

Consumer find overall more than

unduplicated listings

400.000

DemandSupply

Monet ize

99

Immowelt & Immonet: A snapshot on regional listings

A snapshot of listings in Germanys top 15 cities shows already strong presence for Immowelt and Immonet1

DemandSupply

Monet ize

1) Number of listings shown on the portal on Nov.25th 2015; duplications between Immowelt & Immonet adjusted by 20%;Top 15 cities by number of inhabitants;Sources: Immowelt, Immonet, Immoscout24

Real Estate markets are REGIONAL – not national

# For Rent IW IN [IW + IN] IS24

1 Berlin 1.351 1.972 2.658 5.312

2 Hamburg 717 1.819 2.029 1.769

3 München 509 465 779 1.342

4 Köln 219 310 423 1.286

5 Frankfurt a. M. 367 349 573 1.441

6 Stuttgart 165 164 263 345

7 Düsseldorf 419 527 757 1.697

8 Dortmund 212 441 522 1.147

9 Essen 393 627 816 1.861

10 Bremen 257 478 588 968

11 Leipzig 3.143 3.936 5.663 5.692

12 Dresden 1.117 1.909 2.421 2.552

13 Hannover 69 153 178 595

14 Nürnberg 617 300 734 580

15 Duisburg 698 947 1.316 1.952

# For Sale IW IN [IW + IN] IS24

1 Berlin 4.959 5.898 8.686 11.494

2 Hamburg 1.481 2.996 3.582 3.305

3 München 1.310 1.092 1.922 2.682

4 Köln 432 482 731 1.861

5 Frankfurt a. M. 688 679 1.094 1.515

6 Stuttgart 415 333 598 1.019

7 Düsseldorf 450 476 741 1.553

8 Dortmund 688 673 1.089 1.959

9 Essen 671 596 1.014 1.547

10 Bremen 566 606 938 904

11 Leipzig 1.420 1.387 2.246 2.663

12 Dresden 1.023 1.170 1.754 2.618

13 Hannover 197 352 439 995

14 Nürnberg 1.232 688 1.536 1.259

15 Duisburg 614 672 1.029 1.722

[IW + IN] > 100% of IS24[IW + IN] > 70% of IS24

1010

Significant performance increase for agents – DUO1

guarantees visibility on both portals and more leads

Initial results show that DUO customers may more than DOUBLE their leads2

DemandSupply

Monetize

+112%

Jun-Oct 2015Jan-May 2015

1) DUO-listing automatically published on Immowelt & Immonet 2) Average number of leads (email-requests) per listing/ day; Jan-May Immowelt; Jun-Oct Immowelt+Immonet (DUO); n=1650Sources: Immowelt, Immonet

+

Average number of leads

1111

20152014

Immowelt & Immonet: Significant potential ahead!DUO enables us to grow and invest for our customers

Sustainably increasing ARPU due to low agent overlap and the focus on monetizing value

DemandSupply

Monetize

ARPU (Average Revenue per User (Agent)); monthly revenues of Immowelt + Immonet, divided by the number of agents (duplications eliminated, estimated before Jun15) Sources: Immowelt, Immonet

150 €

175 €

200 €

225 €

0112 0706050403020706050403 0901 1008 0809 10 1102

218 €

+15%

ARPU

1212

Outlook: Continuous growth in brand-awareness, performance, revenues and EBITDA

BRANDING-INVESTMENT

INCREASING REVENUES

HIGH PROFITABILITY COOPERATIONS

DemandSupply

Monetize

High investments in the Immowelt-brand (Online-/TV-campaigns)

After investments in the Immowelt-brand EBITDA-margin to increase to +40%

40%EBITDAmarg in

Uplift in performance through new cooperations(e.g. meinestadt, kalaydo)

Revenues to grow with a double-digit CAGR over the next five years

+xx%

Israel’s Leader In Classifieds

Yavin Gillmore - CEO Yad2: Hebrew for “second hand”

Israel – Key Statistics

GDP per capita

32.7K$

Unemployment rate

6.3%

Largest cities Jerusalem - 831K

Tel Aviv - 422K Haifa - 276K

68% Own a house

100% tax rate for new

cars

75% smartphone penetration

Population

8.3M GDGDGDGDPPPP

peperr cacapipitata

32.7K$

UnUnUnUU mememeemeeememme plplplplpplloyoyoyoyoymmmemmmmmem ntntntnnrarararatetetetet

6.3%

LaLa grgggggrggeseseseesesesttttttt cicccccccic titiesesJerusalel m - 838311KK

Tel Aviv - 422KHaifa - 276K

666888888%%%%%%Own a house

1111111000000%%%%%%tax rate for new

cars

7777777777755555%%%%%%%%%%%smartphonepenetration

oPoPoPopupupulalalatittiti nononon

8.3M

2

Tel Aviv - "Silicon Wadi"

Entrepreneurs Global ideas Digital companies

Startup nation

3 Israel – Key Statistics

#1 Real Estate

#1 Cars

#1 Second Hand

Leading Position

#1 Generalist

4

Over 500K daily visits

Over 16M monthly Visits

10K new ads per day

12 minute average time on site

4th Ranked Local Website In Israel

Similar Web Ranking - Israeli Websites

4

375 619

yad2.co.il

winwin.co.il

homeless.co.il

walla.co.il

Ynet.co.il

mako.co.il

12

11

6

5

5

Yad2’S 5 Principles For Enhancing Leading Position

Free Ads Brand Strengh

Quality of

Service

Innovation / VAS

Economies Of Scale

6

97% aided brand awareness

Continue marketing spend across all platforms

Paid - Search - Social - Referral

Free - Direct 25% - Search

Brand 60% Non Brand 4%

- Social 5%

6%

94%

Marketing - Continues Brand Investment

Traffic

7

A mobile first company

Strong Social interaction (WhatsApp, FB)

58% Visits – Mobile 8

Yad2 – Overview 9

Yad2 – Overview

Display

D

ispl

ay

Private

Professional

10

Yad2 – Overview

RE Developers New Cars Leasing

Free

RE agents Car dealers SMB dealers RE

Dev

elop

ers

New

Car

s Le

asin

g

11

Leading Position

#1 Generalist

#1 Real Estate

#1 Cars

#1 Second Hand

12

Looking Forward - Yad2 Continues To Grow

Organic

#1 Generalist

#1 Real Estate

#1 Cars

#1 Second Hand

13

Organic

Acquisitions

#1 Cars

#1 Second Hand

#1 Generalist

Leading Position in Jobs

#1 Real Estate

Looking Forward - Yad2 Continues To Grow 14

#1 Real Estate

Organic

Acquisitions

Make and share

JOBIM

#1 Cars

#1 Second Hand

#1 Generalist

Looking Forward - Yad2 Continues To Grow 15

Creating a global leader

Christian Gaiser, Founder & CEOAxel Springer Capital Markets Day

December 9th, 2015

Page

Your favorite shopping companion...

Dec, 9th 2015 Axel Springer Capital Markets Day 2

...to never miss out on a great deal in your local stores!

Page

Creating a global leader

3

11 countries with 7x strong local brands 330 employees

Ownership: 27.5% founders, 72.5% Axel Springer SE

>22mln global users

Main Focus: US expansion

Dec, 9th 2015 Axel Springer Capital Markets Day

Page 4Dec, 9th 2015

Cost per

engagement

Cost Per Engagement: Simple & ScalableBusiness model

Axel Springer Capital Markets Day

Page

Disrupting a massive print category in the US

5

US Market for

weekly ads

Mass market product used to make

family shopping decisions

Dec, 9th 2015

$15-17bln

of US consumers

use shopping

circulars

74.5%


Page

Reaching consumers at an early point in time

6

Source: Placed & Retale study

% of all US consumers: When would you most likely use digital circulars?


Page

Strong growth on mobile

7

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

2010 2011 2012 2013 2014 2015e

Mobile share of revenue


Page

Winning the US market – our main focus

8Dec, 9th 2015

>5millionDownloads for

Retale‘s best in

class mobile app

>180Retail partners

(compared to 25x

at launch)

Strategy: Invest in long term leadership

Strong and continued traction in the US market:


Page

US: High growth in revenue and reach

9Dec, 9th 2015

2015 2014

Revenue developmentTraffic development

2015 2014


Page

Driving significant uplifts on store visits = ROI

10

Based on our attribution

partners GfK, Placed

9th Decimal, Nielsen

>90% of users actively plan

a shopping trip

70-200%

Uplift on store visits

Higher

Ø-basket size


7%

19.7%

Bonial.de => Extending strong leadership

Dec, 9th 2015 11

Total reach of kaufDA / MeinProspekt + marketshare of app installs

Reach based on AGOF digital facts 2015-08 + inhouse tracking for non-AGOF devices (Windows Mobile & Kindle Fire) and „MeinProspekt“ platform

Marketshare app installs based on daily tracking of Apple AppStore / Google Play Store Rankings over last 24months

7.5%

6.3%

1.3% tiendeo

0.8% Wunderkauf

0.7% DISCOUNTO

Reach:

5.6 MillionUniqueMobile Users

Marketshare app installs:


Page

Acquisition of Ofertia Group & Joint expansion

12Dec, 9th 2015

Acquired majority of

Ofertia Group

Founders continue to

run the company on a

long term horizon

Joint expansion into

attractive markets -

Southern America &

Scandinavia

Mexico Scandinavia


Page

Our road ahead

13

Is there a more efficient way to

discover great deals in your area?

We think so.

Is there a more efficient way to

discover great deals in your area?

We think so.USA • Germany • France • Spain • Brazil • Colombia • Mexico • Chile • Sweden • Denmark • Norway USA • Germany • France • Spain • Brazil • Colombia • Mexico • Chile • Sweden • Denmark • Norway


Summary and OutlookCapital Markets Day – Berlin, December 9, 2015


You can access the webcast of Mathias Döpfner’s speech on our website


2 Summary and Outlook2 Dec. 9, 2015

Thank Youfor attending our

Capital Markets Day

2015

Investor Relations contacts

Claudia Thomé Co-Head of Investor Relations

Phone: +49 30 2591 77421Mobile: +49 160 90445035

[email protected]

Axel Springer SE: Axel-Springer-Str. 65, 10888 Berlin, Germany, Fax: +49 30 2591 77422

Daniel Fard-Yazdani Co-Head of Investor Relations

Phone: +49 30 2591 77425Mobile: +49 151 52844459

[email protected]

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