Axel Springer´s Internet Strategy: Presentation by Dr. Jens Müffelmann, Head of Electronic Media of Axel Springer at the NOAH 2012 Conference in London, Old Billingsgate on the 7th of November 2012.

1. Axel Springer's Internet Strategy
Dr. Jens Müffelmann, Head of Electronic Media
London, November 7, 2012

2. Axel Springer's Internet Strategy
Execution / Value Creation
Dr. Jens Müffelmann, Head of Electronic Media
London, November 7, 2012

3. Axel Springer about a decade ago
“With regard to “Europe„s largest press “... the chaotic web-
electronic media, conglomerate – a mere sandbox of Springer...”
Springer is completely internet midget. At least
underdeveloped” they have a strategy now“
May 1999 October 2000 May 2000
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4. “We want to be the winners of digitization
in the European media business.”
Mathias Döpfner, CEO Axel Springer AG since 2002

5. Attack since 2006
Organic
Organic 89
By acquisition 57
Divestments 8
 138
2006 2007 2008 2009 2010 2011 2012
By acquisition
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6. Joining forces with General Atlantic
30% 70%
Axel Springer Digital Classifieds
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7. Joining forces with General Atlantic
30% 70%
Axel Springer Digital Classifieds
11.3%
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8. We believe in partnerships
Corporates Private Equity / Founders
Venture Capital
… … …
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9. Pushing for market leadership
Market position Market position
in acquisition year 2012
(DE) 2006:
#5
(Europe) 2007:
#2
(UK) 2009:
#3
(DE) 2009:
#2
(DE) 2010:
# 3
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10. Portfolio of market leaders
Women portal Infotainment portal Price comparison Affiliate marketing
Car and motor community Finance portal Real-estate marketplace Online prospectus/ coupons
Soccer community Financial web applications Job board Affiliate marketing UK
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11. Digital reach in Europe
European media peers in million unique visitors
76.0
46.1
33.3
31.2
28.7
24.6
22.1
21.4
16.1
9.8
Source: comScore top 100 properties, September 2012
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12. Digital Media: top-line / bottom-line
Revenues in €m 962 EBITDA in €m 158
712
86
470
378
43
208
21
14
24 1
2006 2007 2008 2009 2010 2011 2006 2007 2008 2009 2010 2011
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13. Our principles as digital shareholder
 Operational independency of management
 Maintaining growth momentum
 Realistic view on synergy potential
 Retaining founders / management
 Slim holding structure
 No colonial masters, no “smart-ass habits“
 No cultural clash
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14. What we are looking for as an investor
Strategic fit: where we can provide leverage
Proven and scalable business models
Clear path to profitability / profitable businesses
Experienced management / commitment
Reasonable valuation
► jens.mueffelmann@axelspringer.de
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