PubliGroupe reported results for FY 2010 and HY1 2011 that confirmed its successful transformation into a leading digital media services provider. Key highlights include: 1) Results showed double-digit growth in operational results on a like-for-like basis, demonstrating the ability to adapt to changing economic conditions. 2) Cost savings of over CHF 124.5 million were achieved over three years through reorganization and cost reduction efforts. 3) Investments continue in growth areas like performance marketing and local search to build market leading positions in these fields. 4) Online revenues grew strongly, driven by Zanox and Namics, expanding PubliGroupe's role as a key online player in

1. Swiss Equity Conference Zurich Results FY 2010 and HY1 2011 confirm PubliGroupe’s successful transformation and migration to becoming a leading service provider in the field of classic and digital media Hans-Peter Rohner CEO & Chairman of the Board Zurich, 13 September 2011

2. Agenda Background group & short presentation segments 1 2 Key financials full year2010 & half-year 2011 Strategy & outlook 3

3. 1 2 PubliGroupe Marketing. More. Effective. 3 PubliGroupe is a leading Swiss-based provider of marketing and media sales services, enabling advertisers to spend their marketing budgets more effectively and allowing media owners to help monetise their reach more successfully. Ultimate goal is to make marketing processes more effective for their clients, be it in traditional or digital media. The group is organised into three client-oriented business segments: “Media Sales”, “Search & Find” and “Digital & Marketing Services”. Listed on the Swiss stock exchange (PUBN). Digital & Marketing Services Search & Find Media Sales Producer and seller of media products facilitating the search for persons, companies, products and services focusing on local markets. Portfolio of leading international marketing and technology service companies, helping brand owners to spend marketing budgets more effectively. Preferred partner for media owners and advertisers worldwide, using effective advertising solutions.

5. Each segment has a clear strategy, defined growth targets and agreed performance objectives.* * * * Zanox Group subsidiaries; note: Digital Window is the holding company for Affiliate Window and buy.at

7. The group has more than 400’000 customers:

8. Private persons

9. SME

10. National advertisers

11. International brands

12. The group cooperates with:

13. Well-known media companies

14. Digital Media owners

15. Different types of websitesMSN

17. … representing the most prestigious media companies

18. … offering innovative media and marketing solutions

20. … capitalising on long term relationships with media partners

21. … bringing innovative solutions and a high-level entrepreneurial spirit

23. Media Sales: Working with leading media providers worldwide 1 2 3 Australia: Channel 7Fairfax Media News Ltd.The West Australian Austria: News Argentina: La Nacion Belgium: De Standaard Le Soir Brazil: Folha de Sao Paolo O Globo Veja Canada: The Globe and Mail Toronto Star Chile: El Mercurio China: South China Morning Post Columbia: El Tiempo Ecuador: El Comercio France: Elles Magazines Le Figaro Le Monde Les Echos Germany: Jahreszeiten Verlag Journal International Frankfurter Allgemeine Zeitung Süddeutsche Zeitung Spiegel India: Times of India Indonesia: The Jakarta Post Ireland: The Irish Times Italy: Corriere della Sera Japan: The Nihon Keizai Shimbun (The Nikkei) The Asahi Shimbun Malaysia: The Star Malaysia Mexico: El Universal Netherlands: De TelegraafFD Mediagroep New Zealand: National Business Review New Zealand Herald Peru: El Comercio Poland: Gazeta Wyborcza Puerto Rico: El Nuevo Dia Singapore: The Straits Times Russia: Kommersant Saudi Arabia: Saudi Research & Publishing Co. Spain: El Pais South Korea: The Korean Herald JoonAng Ilbo Sweden: Svenska Dagbladet Switzerland: Le Temps Neue Zürcher ZeitungTagesanzeiger and numerous regional & local newpapers Thailand: The Bangkok Post UAE: Al Khaleej Times UK: Associated Newspapers Conde Nast Publications Financial Times The Daily Telegraph The Guardian Uruguay: El Pais US: American Express Publishing Los Angeles Times National Geographic Magazine Nielsen Business Media The New York Times The Washington Post Venezuela: El Nacional Pan-European: Eurosport Global: Forbes Fortune Time Reuters

25. to be chosen

27. up to date

30. Online orders intake exceeds print

31. Achieved and successfully defended #2 position after Google maps(1)

32. Uncontested #1 in mobile search & find(available on iOS, Android, Blackberry, W7) Online revenue FY 2010 (local.ch + home.ch) CHF m +24% 2010 2009 Unique audience HY1 2011, in millions (1) Nielsen / Netratings

34. 24% usage growth of local.ch app on iPhone since January 2011

35. Uncontested #1 in Mobile search & find> 1 million downloads 24% usage growth Cumulative downloads on all platforms Monthly use iPhone, in millions App downloads, in millions Occasional use (>1 day per month) Frequent use (5 days per month) Active use (>10 days per month) Source: Official platform Stores (iOS,Android,Blackberry,W7,Nokia) Source: Usage rating by Apple

38. Examples: e-business concept, search engine marketing, lead management etc.Namics Professional services-oriented Demand-side (advertiser-oriented) Supply-side (publisher-oriented) 1) Zanox Group subsidiaries; note: Digital Window is the holding company for Affiliate Window and buy.at Digital & Marketing Services: Technology and professional services-driven businesses

40. Growth as a result of both positive organic development and acquisitions.

41. Zanox with leading market position in Performance Advertising Network segment.

43. New no. 1 player in Benelux after M4N acquisition

44. Offices in Turkey and Poland operational - CH in continued build-up phase

45. Expansion to Brazil in progress together with key client#1 #2 #1 #1 #1 #1 #2 EBITDA Sales

46. Agenda Background group & short presentation segments 1 2 Key financials full year2010 & half-year 2011 Strategy & outlook 3

47. FY 2010 group results: Well positioned for the future 1 2 3 Sales and gross margin in CHF m Positive trend confirmed Turnaround accomplished: Accelerated migration towards "digital company" Media Sales profitable ahead of schedule Financially stronger with significantly reduced debt and stronger investment capacity Strong performance across all segments: Media Sales: successful execution of new business model Search & Find with new organisational set-up that will strengthen future profitability Digital & Marketing Services (DMS): now the European leader in affiliate marketing with Zanox Group; Namics enhances leading position in e-business consulting in Switzerland Dividend payment of CHF 6, pay-out ratio of 33% Net sales Gross margin EBIT and net profit, in CHF m EBIT Net profit

48. HY1 2011 group results: Net result up 8% on a like-for-like basis 1 2 3 Sales and gross margin,in millions of CHF Net result lower as first half of 2010 was strongly influenced by non-recurring one-off elements; Operating result (EBIT) improved 23%. On a like-for-like basis, HY1 2011 net result up 8% to CHF 7.6 million (HY1 2010: CHF 7 million), operating result up 17% to CHF 7.9 million (HY1 2010: CHF 6.8 million), owing again to a significantly lower cost base of CHF 9.8 million. Sales lower due to currency effects and smaller volumes in the traditional business areas, especially print and TV, online growth continues. Despite current economic woes and difficulty of forecasting the macro economic development, PG expects improvement of last year’s operative result (EBIT) for the full year 2011. Sales Gross margin EBIT and net profit, in millions of CHF EBIT Net profit

50. EBITDA in line with previous year, even slightly higher reaching CHF 0.4 million

51. Publicitas branch network Switzerland with positive results for the first half year

52. International: business suffers under currency impact and some shifts in budgets from the 1st to the 2nd semester

56. FY 2010 P&L GroupBack in solid black numbers 1 2 3

59. Status of strategic initiativesReorganisation and cost reduction largely accomplished 1 2 Level of Accomplishment 3 Achieved cost savings of CHF 124.5 m over 3 years CHF -48.5 m in Media Sales and HQ Corporate in 2010 alone Headcount reduction by 241 FTE at Media Sales and HQ Corporate (12 months) Reorgani-sation and cost reduction ongoing CHF -22m CHF -55m CHF -48.5m 2009 2010 2011 2008

60. 1 2 Level of Accomplishment 3 2010 & 2011 divestment of non-core assets such as Real estate: Baden and Lausanne Non-core holdings of publishing houses: BAZ, Edipresse Participations in China Debt reduced by CHF 72 m to CHF 93 m Strong balance sheet with 47.7% equity ratio Target: maintain investment capacity of CHF 50 m plus Emphasis Video Entertainment Huashang Interactive City Media Real estate Winterthur 100% Stadt- anzeiger Olten 37% BAZ Medien / 19.9% Edipresse Real estate Baden / Lausanne Divestment of non-core assets Real estateZurich 2008 2009 2010 2011 Status of strategic initiativesDivestment of non-core assets mostly completed

61. Status of strategic initiativesContinuing investment in growth markets 1 2 Ongoing 3 Performance Marketing: Build the leading European online affiliate advertising group together with Axel Springer Build a comprehensive offering in digital marketing on the Swiss market Repositioning of web2com Acquisition of Instanz in May 2010 complements the web2com, Namics and Zanox performance marketing offering Local Search Marketing: Build the number one local search platform in Switzerland together with Swisscom New setup of partnership with Swisscom to boost online services and to gain synergies Promising market entry of new national real estate online portal home.ch Investments in growth markets 2007 2008 2009 2010

62. HY1 2011 online performanceStrong online growth – driven by Zanox and Namics 1 2 Ongoing 3 Online revenue consolidated in PubliGroupe numbers: +13% to CHF 73 million; +17% at constant exchange rates. Online revenue incl. participations: +8% to CHF 340 million; +20% at constant exchange rates. Total revenue from online (incl. participations) represents 38% of total business generated by PubliGroupe and associated companies. PubliGroupe expands its position as a key player in the online market in Switzerland (through Namics and Instanz) and with Zanox (in partnership with Axel Springer) in Western Europe and increasingly worldwide. HY1 2011 Online sales, in millions of CHF (Zanox and local.ch) 340 314 227 Total revenue HY1 2009 : CHF 951 m (online 24%) Total revenue HY1 2010 : CHF 942 m (online 33%) Total revenue HY1 2011 : CHF 884 m (online 38%)

64. Double-digit growth of the operational result on a like-for-like basis shows PubliGroupe’s ability to constantly being able to adapt to changing economic conditions.

65. How to further monetize existing 400’000 customer relationships in Switzerland as a key strategic challenge for the future.

67. HY1 2011 P&L GroupExpense reduction compensates for gross margin decline Backup

68. Backup HY1 2011 Group balance sheet Solid balance sheet and still solid net liquidity

69. Backup Media SalesVolume mainly down due to non-continued TV activities Sales,in millions of CHF Sales decrease by 12% to CHF 517.2 million versus CHF 588.1 million in the previous year. Major reason for the lower business volume was the result of the termination of the TV commercialisation agreements which represented almost CHF 30 million. Print activities in Switzerland drop of 6%, international volume down by 11%, onlybecause of currencyeffects (at constantexchangerates international business with +2%). The CHF 5.1 million one-time complete impairment of goodwill in the TV business plus other related costs resulted in a negative segment EBIT of CHF -6.2 million. EBITDA positive with CHF 0.4 million (first half of 2010: CHF 0.0 million) Comparable expenses for the segment dropped 14% from CHF 93 million in 2010 to CHF 80.4 million year-to-date 2011, down from CHF 145.4 million in 2007. -12% Sales Gross margin and EBIT, in millions of CHF -14% Gross margin EBIT

70. Backup Media SalesGood operational performance by Publicitas branch network Media Sales Switzerland*,in millions of CHF Activities in Switzerland confirm their profitable turnaround, especially thanks to a good performance of the traditional Publicitas branch network in the regional/local markets, despite overall decline of business in Switzerland of 6%. The volume of the international business, representing less than 20% of total Media Sales business, drops 11%, mainly due to negative currency impacts of a lower USD and euro. The termination of the TV commercialisation agreements with the ProSiebenSat1 and 3+ groups decreased sales by almost CHF 30 million and gross margin by CHF 4.4 million. Total EBIT decline due to termination of CHF 5.5 million. PubliGroupe had previously decided not to enter guarantee-based television agreements in favour of a performance-oriented profitability approach across all media categories. -6% Sales * Does not include Electronic Media Analysis Media Sales TV business 2011/2010, in millions of CHF Gross margin EBIT Sales

71. Backup Search & Find Investing in the future Sales,in millions of CHF Good volume development, despite lower sales in traditional print business that saw a decline of -11%, largely offset by good growth in online search services (+11%). EBIT down mainly because of investments being undertaken in the online platform home.ch, higher marketing efforts during the first semester and continued one-off costs associated with structural adjustments and the development of new online services. Margins will increaslingly profit from a reduction of direct costs, such as from the optimisation of paper purchasing and production of print products with fewer suppliers Traditionally profiting from a much stronger second half in terms of sales, S&F full-year profits should be at least in the order of last year’s results. +9% Sales Gross margin and EBIT, in millions of CHF +2% -23% Gross margin EBIT

73. DMS sales declined by -10% (-2% without currency impact) as reduction of traditional media budgets of SVB’s clients continues. Very good revenue development at Namics (+11% vs. PY).

74. Gross profit +6% was supported by expansion at Namics and improved margins.

75. Reported EBIT grew +53% (+74% w/o FX) driven by Zanox & Namics performance as well as a one time temporary effects (CHF 2.1m).

76. DMS further expands its footprint in "online performance marketing”, a fast growing area with higher margins than traditional online segments.Digital & Marketing Services Strong operational performance Backup DMS Sales, in millions of CHF 70.3 -10% 62.9 Note: Zanox Group not included; includes FX impact of -8% DMS gross margin and EBIT,in millions of CHF +6% +58% Gross Profit EBIT

78. Consolidated balance sheetAssets Backup

79. Consolidated balance sheetLiabilities Backup

80. Cash flow from operating activities Backup

81. Cash flow fromfinancingactivities Backup

82. Cash flow from investing activities Backup