INVESTOR UPDATE

THE ESSEL GROUP

P2

ABOUT ZEE MEDIAINDIA'S LARGEST BOUQUET OF 14 NEWS CHANNELS.

11 DIGITAL PROPERTIES, 11 LANGUAGES

220+ million viewers

60 million+monthly unique

visitors

45 million+monthly unique

visitorsP3

OUR ASSETS

P4

100,000+ Hours

of Video Content31 High-End Studios

540 Correspondents

& Stringers

43 News Bureaus

PAN India

27 DSNG Vans, 66 Backpack Units, 28 MOJO Kits

300 ENG Cameras

• Distribution Advantage

• ZMCL channels are offered as a part of the Zee distribution bouquet of channels by Zee Entertainment Enterprises Limited to MSOs & DTH Operators

• Access to Domestic Advertisers

• Engaged in ad sales across TV, Print, DTH, Cable, and Digital platforms.

• Benefits ZMCL with increased advertisement sales clientele due to cross / combined selling across media

• 1,000+ Advertisers

• International Sales

• ZEEL’s international teams sell advertising spaces on behalf of ZMCL on its television and digital platforms

• Digital Content Synergies

• Diversity of news publishing platforms provides huge content repository

• Access to 42 Million Households

• Joint curation of events and programmes

ZEE MEDIA SYNERGIES WITH ESSEL GROUP

P5

WHAT DOES TV MEAN TO INDIA?

P6

TV continues to remain the most popular form of entertainment across all age groups

Source: Daily Time spent and Daily tune in on TV: BARC; Daily time spent per day with major media: eMarketer

TV SEGMENT PERFORMANCE: IMPROVING SHARE AND STICKINESS

P7Source: BARC

Highest time spent during 4 of last 6 quarters

8

9

10

11

12

13

14

Q2

'17

Q3

'17

Q4

'17

Q1

'18

Q2

'18

Q3

'18

ATS

V (

in m

ins)

Increasing stickiness

Only channel other than AajTak to be No. 1 by share for

100 consecutive weeks

No. 1 by market share in Urdu news genre since

launch in Jul’17

Highest ATSV in the genre for 8 consecutive quarters

Highest ATSV in the genre for 5 consecutive quarters

Highest ATSV in the genre for 8 consecutive quarters

Strong No. 2 channel by market share for 3 years

STICKINESS OF CONTENT REFLECTED IN EARNING RATES

P8

Improving market shares and increasing stickiness of the channels (as highlighted in prior slide) resulting into

changing trends of Earning Rates (ERs) of respective channels

a. 7 out of 14 channels witnessed over 25% growth in ER in Q1 FY19 over corresponding quarter last year

b. 4 out of above 7 channels were Regional channels, reflecting the potential in regional markets

c. Zee Hindustan, that was launched last year as a national platform, experienced an over 50% increase in ER for

Q1 FY19

d. Zee Salaam , that was launched last year achieved operational break even in last financial year itself

HOW INTERNET WILL LOOK IN INDIA IN 2020?

P9Source: Cisco Visual Networking Index 2015-2020

P10

India’s Largest News Platform in Multi Languages

ZEE DIGITAL NEWS PUBLISHING HUB: DERIVING CONTENT SYNERGIES

STRIVING TO MAKE THE WORLD A MORE INFORMED PLACE

ZEENEWS.COM

News that builds perspectiveIndia’s Global Voice on the internet

Investment guide and business advisor for mass markets

News and Information Gateway to India

One stop shop for everything ENTERTAINMENT

Complete Health Portal on Health, Fitness, Nutrition, Lifestyle

India’s #1 source of exclusive gadgets and gaming news and views

Brings out expertise and opinions of fans

DNAINDIA.COMWIONEWS.COMZEEBIZ.COM

INDIA.COM BOLLYWOODLIFE.COM THEHEALTHSITE.COM BGR.IN CRICKETCOUNTRY.COM

Entertainment•Events / Movies Bookings

•Memorabilia (Zee Studios)

Ad Aggregation

Zee Business• Mutual Funds

• Insurance

BGR.in• Gadgets/Mobiles

• Product Comparison Engine

Health• Fitness Apps

• Drug Recommendation

•Pharmacies

•Patient Data

Hyperlocal•News

•Utility Payments / Recharges

•Wellness & Healthcare

•Education (Z Learn)

•Services / Food

India.com•Art & Craft

Sports•Memorabilia

•Tickets

Travel•Flights

•Hotels

•Bus / Car

ZeeNews.com• Multi-language content

Internet users

1

2

3

4

56

7

8

9

10

ZEE DIGITAL: AIMING TO ENGAGE AUDIENCE AT MULTIPLE TOUCH-POINTS

MULTIPLE SEGMENTS AND MULTIPLE PLATFORMS

P11

News/Information Jul-17 Jul-18 Growth%

The Times of India Sites 86.7 111.7 29%

NDTV 50.8 77.8 53%

The Indian Express Group 63.7 76.2 20%

ZEE DIGITAL 50.8 69.1 36%

India Today Group 62.1 67.3 8%

Network 18 Sites 58.9 60.6 3%

HT Media Group 53.1 57.3 8%

OneIndia.com Sites 41.1 43.0 5%

Jagran Sites 38.3 38.1 0%

Bhaskar Group Sites 40.5 26.3 -35%

ABP News Network 25.2 24.6 -3%

ZEE DIGITAL: HIGH GROWTH, STRONG POSITION

AMONGST TOP 4 NEWS PUBLISHING GROUPS IN INDIA

P12

ZEENEWS.COM: CHARTING EXPONENTIAL GROWTH TRAJECTORY

P13Source: comScore, Mobile + Desktop Users

910

13

16

2219 20

2524

21

25

22 2223

29 28

35

31

34

0

5

10

15

20

25

30

35

40

Unique Users (millions)

Q2 FY18 350 Million p.m.

Q2 FY19500 Million p.m.

Monthly Average Page Views

45Million

Social Media Followers

ZMCL: INCREASINGLY DELIVERING EYE-BALLS TO ADVERTISERS

P14

Youtube Video Views

200Million

p.m.

250Million

p.m.

Facebook Video Views

FINANCIAL HIGHLIGHTS

P15

BEATING THE INDUSTRY ADVERTISING REVENUE GROWTH

P16

243

267

304

335

368

0

50

100

150

200

250

300

350

400

2016 2017 2018P 2019P 2020P

Rs

bill

ion

Television Advertising Revenues

Source: FICCI – EY Re-imagining India’s M&E sector Report, March 2018

3,300

3,952

5,106

6,500

9,000

-

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

9,000

10,000

FY16 FY17 FY18 FY19-P FY20-P

ZMCL Advertising Revenues

IMPROVING PROFITABILITY

P17

2014 2015 2016 2017 2018 Q1FY19

Operating Income 3,352 4,221 4,346 4,498 5,735 1,547

Operating Expenditure 3,097 3,626 3,566 3,543 4,405 1,188

Operating Profit 255 596 780 955 1,330 359

EBITDA Margin 8% 14% 18% 21% 23% 23%

3,352

4,221 4,346 4,498

5,735

1,547

3,097

3,626 3,566 3,543

4,405

1,188 255 596 780 955

1,330

359

8%

14%

18%

21%

23% 23%

0%

5%

10%

15%

20%

25%

-

1,000

2,000

3,000

4,000

5,000

6,000

7,000

TV Business - KPIs

Operating Income Operating Expenditure Operating Profit EBITDA Margin

EBITDA margin has improved from 8% in FY14 to 23% in Q1FY19

WHOLISTIC GROWTH

P18

National Channels – Zee News, Zee Business, Zee Hindustan, WION (Q4FY17 onwards)

2,338

2,942 2,869 2,959

3,580

957

1,900 2,098 2,027

2,209

2,758

711

439

844 841 750 822

247

-

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

2014 2015 2016 2017 2018 Q1FY19

National Channels

Operating Income Operating Expenditure Operating Profit

1,013

1,279

1,477 1,539

2,155

590

1,197

1,527 1,538

1,334

1,657

477

(184) (248) (61)

205

498

112

(500)

-

500

1,000

1,500

2,000

2,500

2014 2015 2016 2017 2018 Q1FY19

Regional Channels

Operating Income Operating Expenditure Operating Profit

Regional Channels also include new launches Zee Salaam, Zee 24 Kalak and Zee Uttar Pradesh Uttarakhand

IMPROVED PROFITABILITY IN NATIONAL AS WELL AS REGIONAL CHANNELS

WHOLISTIC GROWTH

P19

REDUCING RELIANCE ON NATIONAL CHANNELS; UNLOCKING POTENTIAL OF REGIONAL PORTFOLIO

70% 70%66% 66%

62% 62%

30% 30%34% 34%

38% 38%

0%

10%

20%

30%

40%

50%

60%

70%

80%

2014 2015 2016 2017 2018 Q1FY19

National Regional

THANK YOU

OUR MANAGEMENT TEAM

……

……

Sumit KapoorChief Financial Officer

……

…

……

……

Rajiv SinghExecutive Director & COO –

National & Digital

……

…

……

……

Ashok VenkatramaniManaging Director

……

…

Harvard Business School Alumni with 14 years’ experience in corporate finance and consulting across South-South East Asia, Africa and the US.

Expert in Business Strategy and Planning, Investment Proposals (National / International) and Investor Relations.

Held leadership positions in Monnet Ispat, EY, CBRE and Deloitte.

Industry veteran with 35+ years of experience spanning both offline / digital media in India as well as Middle-East.

Helped build up US$ 5 million business in middle-east for Exponential Interactive as Managing Director, MENA

Held leadership positions in Reliance Jio, News18, and several print publications

Broadcast media & FMCG veteran with 30 years’ experience in various leadership, sales, marketing and general management roles. Also served as member of Digitization Task Force by Government of India.

Featured twice in World CMO Council‘s list of India’s 75 top marketers. Awarded ‘CEO with best HR Orientation’ by The World HRD Congress and as ‘Media Person of the Year’ by The World Brand Congress in India.

Entered ‘Hall of Fame’ of News Television Awards for successful rebranding of Star News to ABP News.

……

……

Sudhir ChaudharyEditor in Chief – Zee News, Zee

Business, WION……

…

A journalist, who is a thinker, well versed and widely read with the intention of analysing and showing his viewers news and facts with deep research and clarity

Belongs to the First generation of television journalists in India

Has been in TV news industry for more than 19 years