1 1

MODERN TIMES GROUP

SHAPING THE FUTURE OF ENTERTAINMENT

APRIL 2014

2

A UNIQUE PLATFORM A SUCCESSFUL TRACK

RECORD (10Y)

INTEGRATED &

DIVERSIFIED

TV EVERYWHERE &

FOR EVERYONE

DECENTRALIZED

THE STORY

11% SALES CAGR

15% EBIT CAGR

27% ROCE (AVE.)

11% TSR CAGR

A BRIGHT FUTURE

RISING VIDEO

CONSUMPTION

CONTENT RICH

DIGITAL DELIVERY

& ENGAGEMENT

3

First to market full service SVOD

OTT operator & leading AVOD player

+ wide range of new products &

services

Multi-platform & country content

acquisition & monetization strategy

Leading content creator, producer &

distributor

DIGITAL CONTENT

Focus on roll-out of new products to

existing markets + expansion in CEE

& Africa

GEO EXPANSION

LONG TERM VALUE CREATION

BASED ON CLEAR GROWTH STRATEGY

879,470

481,800

394,200

297,840 236,520 210,240

0

100,000

200,000

300,000

400,000

500,000

600,000

700,000

800,000

900,000

1,000,000

MTG RTL Bonnier Mediaset CME Pro7

4

CONTENT REMAINS KING

WE ARE THE BIGGEST BUYER IN TOWN

Source: MTG Research

TOTAL NUMBER OF BROADCAST HOURS (2013)

5

LONG TERM PARTNERSHIPS

WITH RELEVANT CONTENT PROVIDERS

OUR IN-HOUSE STUDIOS BUSINESS

HAS QUADRUPLED IN SIZE

6

TOP 10 CONTENT DISTRIBUTORS (RATED BY UK INDEPENDENT TV PRODUCERS)

HIGHEST RATED MOST USED

Source: Televisual Distributor Poll, September 2013

1 BBC WW

2 ITV Global

3 Zodiak Rights

3 DRG

3 Shine

6 Fremantle Enterprises

6 DCD Media

6 Endemol WW

10 Passion Distribution

6 All3Media

1 BBC WW

2 DRG

4 ITV Global

3 Zodiak Rights

5 Fremantle Enterprises

6 Endemol WW

8 Passion Distribution

7 Electric Sky

9 Sky Vision

9 All3Media

+

TOP 5 TV PRODUCERS IN THE NORDICS (BY SALES 2012)

#1 IN THE NORDICS WITH AN EXPANDING EMERGING

MARKETS FOOTPRINT AND GLOBAL DISTRIBUTION CAPABILITY

7

SOURCE: Nielsen Cross Platform reports

Q3 ‘09

297 296

TRADITIONAL TV LIVE TV

TIME SHIFTED TV

Q3 ‘08

ONLINE/MOBILE VIDEO ONLINE VIDEO

MOBILE VIDEO

Q3 ‘13

314

Q3 ‘12

314

Q3 ‘11

307

Q3 ‘10

306 +17%

CAGR ONLINE/MOBILE

VIDEO

0.4%

CAGR TRADITIONAL

VIDEO CONSUMPTION IS GROWING

VIDEO USAGE IN THE USA – AVERAGE MINUTES PER DAY PER USER (2+)

8 8

VIAPLAY OPENS UP A NEW WORLD

AS OTT ENABLES UNIVERSAL REACH

9 9

ViaPlay Premium VOD

Film,series,sports,kids content

Free VOD TV Channels

Ad Financed Services

Viasatsport.se

Free sport clips on web & mobile

Free Music Streaming

Ad Financed Service

You Tube

Splay investment, MCNs

eSports

Broadcasted globally

Klipster Coupon deal app

Vertical video content sites

style, family, food

DEVELOPING FAST

WITH A WIDE RANGE OF DIGITAL PRODUCTS

PREMIUM TV (Subscription based Video)

VIAPLAY - Sport, Series ,Movies and Kids content

FREE TV (Advertising financed)

Play.se, play.no etc.

VENTURES (Digital development)

Music, eSports Commerce

10

MTGX - THE GROUP PLATFORM

TO ACCELERATE DIGITAL GROWTH

11 11

SEGMENTAL HIGHLIGHTS AND Q1 PERFORMANCE

Sales up 13% at constant FX & 5% on an organic basis

Organic growth in FTV Scandi and PTV Nordic accelerated by Olympics coverage in Sweden

Double digit organic growth in PTV EM & content production businesses

FTV EM – double digit growth in Baltics, Bulgaria and Ghana not fully offsetting lower sales in Czech Rep.

Merger of Viaplay and MTGx to create leading digital entertainment powerhouse

Y-o-Y profit growth in PTV Nordic for the first time in 2 years. Overall profitability impacted by seasonality,

Olympics, channel launches and digital investments

Retain our FY14 expectation for higher operating margin in PTV Nordic but not currently reiterating

expectation for higher profits in PTV EM given the significant currency changes seen in the region

Q1 2014 – HIGHLIGHTS

12

13

GROUP PERFORMANCE

INVESTMENTS DRIVING GROWTH

SALES GROWTH (Y-O-Y) EBIT (SEK MN) AND EBIT MARGIN (%)

-2%

0%

2%

4%

6%

8%

10%

12%

14%

16%

Q2

2012

Q3

2012

Q4

2012

Q1

2013

Q2

2013

Q3

2013

Q4

2013

Q1

2014

Sales growth at constant fx Organic sales growth

0

5

10

15

20

25

30

0

100

200

300

400

500

600

2012Q2

2012Q3

2012Q4

2013Q1

2013Q2

2013Q3

2013Q4

2014Q1

EBIT excl associated income & one-off items EBIT margin

14

FREE-TV SCANDINAVIA

AN OLYMPIC QUARTER

SALES (Y-O-Y) AT CONSTANT FX EBIT (SEK MN) AND EBIT MARGIN (%)

OLYMPICS BOOSTED SALES GROWTH BUT

ADVERSELY IMPACTED THE PROFITABILITY

-10%

-8%

-6%

-4%

-2%

0%

2%

4%

6%

8%

10%

12%

Q4 2

011

Q1 2

012

Q2 2

012

Q3 2

012

Q4 2

012

Q1 2

013

Q2 2

013

Q3 2

013

Q4 2

013

Q1 2

014

127

92

12.8%

8.9%

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

0

50

100

150

Q1 2013 Q1 2014

EBIT EBIT margin

15

FREE-TV SCANDINAVIA

CSOV GAINS IN SWEDEN AND DENMARK

CSOV (15-49) – Q1 2014 VS Q1 2013

60% CSOV DURING THE OLYMPICS – ALL-TIME HIGH

FOR SWEDEN. DENMARK HAD ITS HIGHEST Q1 CSOV SINCE 2000

CSOV (15-49) – Q1 2006 TO Q1 2014

32.4

17.3

25.4

39.1

15.3

25.6

0.0

5.0

10.0

15.0

20.0

25.0

30.0

35.0

40.0

45.0

Sweden Norway Denmark

Q1 2013 Q1 2014

10

15

20

25

30

35

40

45

Q1 2006

Q1 2007

Q1 2008

Q1 2009

Q1 2010

Q1 2011

Q1 2012

Q1 2013

Q1 2014

Sweden Denmark Norway

16

FREE-TV EMERGING MARKETS

CONTINUED INVESTMENTS

SALES GROWTH (Y-O-Y) AT CONSTANT FX EBIT (SEK MN) AND EBIT MARGIN (%)

CZECH SALES DOWN PRIMARILY DRIVEN BY EXCEPTIONAL

COMPS. DOUBLE DIGIT GROWTH IN MOST OTHER MARKETS

-5%

0%

5%

10%

15%

20%

25%

30%

35%

Q4

2011

Q1

2012

Q2

2012

Q3

2012

Q4

2012

Q1

2013

Q2

2013

Q3

2013

Q4

2013

Q1

2014

2014 2013

Jan-Mar Jan-Mar

Sales (SEKm) 504 512

Growth (at constant FX) -2% 25%

EBIT (SEKm) -25 26

EBIT margin - 5.0%

17

FREE-TV EMERGING MARKETS

HUGE CYCLICAL RECOVERY POTENTIAL

CSOV (15-49) – (%) TV AD MARKETS IN MTG TERRITORIES

CSOV FOR THE BALTICS REACHED A NEW ALL-TIME

HIGH FOR Q1

46.8

34.0 37.5

48.8

33.8 33.3

0

10

20

30

40

50

60

Baltics Bulgaria Czech Rep.

Q1 2013 Q1 2014

SEK 8.6 bn SEK

5.8 bn

0

1

2

3

4

5

6

7

8

9

10

2008 2013e

18

PAY-TV NORDIC

ACCELERATED ORGANIC GROWTH

7% SALES GROWTH (Y-O-Y) AT CONSTANT FX EBIT (SEK MN) AND EBIT MARGIN (%)

PROFITS UP FOR THE FIRST TIME IN 2 YEARS. CONTINUE TO EXPECT HIGHER EBIT MARGIN FOR FY14

11.1% 11.0%

0%

5%

10%

15%

20%

0

50

100

150

200

Q1 2013 Q1 2014

EBIT EBIT margin

0%

2%

4%

6%

8%

10%

12%

Q4

2011

Q1

2012

Q2

2012

Q3

2012

Q4

2012

Q1

2013

Q2

2013

Q3

2013

Q4

2013

Q1

2014

19

PAY-TV NORDIC

OVERALL SUB BASE CONTINUES TO GROW

PREMIUM SUBSCRIBER DEVELOPMENT (‘000) ARPU FOR PREMIUM DTH (SEK) - ANNUALIZED

RECORD SUBSCRIBER INTAKE AT VIAPLAY. DTH

ARPU UP 3% IN CONSTANT FX

0

200

400

600

800

1,000

1,200

Q4

2012

Q1

2013

Q2

2013

Q3

2013

Q4

2013

Q1

2014

Satellite subscribers 3'rd party network subscribers

4,000

4,200

4,400

4,600

4,800

5,000

5,200

Q42011

Q12012

Q22012

Q32012

Q42012

Q12013

Q22013

Q32013

Q42013

Q12014

20

PAY-TV EMERGING MARKETS

CONTINUED GOOD PERFORMANCE

10% SALES GROWTH (Y-O-Y) AT CONSTANT FX EBIT (SEK MN) AND EBIT MARGIN (%)

NOT REITERATING EXPECTATION FOR HIGHER

PROFITABILITY IN FY14 AT THIS STAGE PRIMARILY DUE TO FX

0%

5%

10%

15%

20%

25%

Q4

2011

Q1

2012

Q2

2012

Q3

2012

Q4

2012

Q1

2013

Q2

2013

Q3

2013

Q4

2013

Q1

2014

8.2%

0%

5%

10%

-10

0

10

20

30

Q1 2013 Q1 2014

EBIT EBIT margin

21

PAY-TV EMERGING MARKETS

ALMOST 100MN MINI-PAY SUBSCRIPTIONS

MINI-PAY SUBSCRIPTIONS (MN) INVESTING INTO THE HD MARKET IN THE CIS

= 395

RUB

($13)

ADDED ALMOST 10 MN MINI-PAY

SUBSCRIPTIONS Y-O-Y AND ALMOST 3 MN Q-O-Q

0

100

200

300

400

500

600

700

0

10

20

30

40

50

60

70

80

90

100

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Q12014

Mini-Pay subscriptions (million) DTH ('000)

Organic + acquisition led growth

Consolidation of Nice, DRG and Novemberfilm in H2 2013

6% organic sales growth driven by double-digit growth within

content production

Sales for the combined radio businesses were down

Profitability pressured by seasonality and investments

Continued investments in MTGx

Profits also impacted by the seasonality of the content production

businesses which have become much bigger following acquisitions

MTGx continues to develop according to plan

A new AVOD platform rolled out during the quarter in seven markets

Launched a new dedicated Olympics website, new mobile app, re-

launch of the Viasatsport.se site etc.

22

NICE, MTGX, RADIO

CONTENT PRODUCTION DRIVES GROWTH

13% of Group sales 2014 2013

Jan-Mar Jan-Mar

Sales (SEKm) 483 242

Growth (at constant FX) 105% -41%

Growth (organic) 6% -19%

EBIT (SEKm) -64 -17

EBIT margin - -

23 23

PRODUCTION

HOUSE

Hungary

Bulgaria

Slovenia

Romania

Serbia

Czech Rep.

Costa Rica

Latvia

Estonia

Lithuania

Sweden

Norway

Denmark

Holland

PRODUCING >3,500H OF CONTENT SOLD TO >80

COUNTRIES

STUDIOS NOW A SCALE PLAYER

Sales up 13% at constant FX & 5% on an organic basis

Organic growth in FTV Scandi and PTV Nordic accelerated by Olympics coverage in Sweden

Double digit organic growth in PTV EM & content production businesses

FTV EM – double digit growth in Baltics, Bulgaria and Ghana not fully offsetting lower sales in Czech Rep.

Merger of Viaplay and MTGx to create leading digital entertainment powerhouse

Y-o-Y profit growth in PTV Nordic for the first time in 2 years. Overall profitability impacted by seasonality,

Olympics, channel launches and digital investments

Retain our FY14 expectation for higher operating margin in PTV Nordic but not currently reiterating

expectation for higher profits in PTV EM given the significant currency changes seen in the region

Q1 2014 – HIGHLIGHTS

24

25 25

MTG INVESTOR RELATIONS

FOR FURTHER INFORMATION, PLEASE VISIT

WWW.MTG.SE OR CONTACT:

TEL: +46 (0) 73 699 2714

EMAIL: INVESTOR.RELATIONS@MTG.SE