Manfred Aronsson, Head of MTG Sweden. Capital Markets Day 2010.

1. 2010 Capital Markets Day
Manfred Aronsson, Head of MTG Sweden
The New Game in Town
Modern Times Group MTG AB
Nasdaq OMX Stockholm : MTGA, MTGB 1

2. Swedish TV viewers English football = True (since 1969)
Modern Times Group MTG AB
Nasdaq OMX Stockholm : MTGA, MTGB 2

3. Why acquire Premier League ?
4 perspectives:
• Why it makes strategic sense to our platform
• Why PL complements Viasat other rights and will be a greater viewing experience
• Why pre-requisites to market and sell Viasat with PL are better than ever
• Why it makes financial sense
Modern Times Group MTG AB
Nasdaq OMX Stockholm : MTGA, MTGB 3

4. Major strategic changes 2008
DTH “channel swap”…
Modern Times Group MTG AB
Nasdaq OMX Stockholm : MTGA, MTGB 4

5. Major strategic changes 2008
…basic channels became commodity
Premium Sport Key differentiator
Modern Times Group MTG AB
Nasdaq OMX Stockholm : MTGA, MTGB 5

6. Action on premium content & brands
From generic sport channels…
Modern Times Group MTG AB
Nasdaq OMX Stockholm : MTGA, MTGB 6

7. Action on premium content & brands
...to clear premium channels !
Modern Times Group MTG AB
Nasdaq OMX Stockholm : MTGA, MTGB 7

8. Viasat Sport ‘make-over’ journey has paid off for the brand…
Do you consider Viasat Sport ? Do you prefer Viasat Sport ?
52% higher than in 2008 125% higher than in 2008
Consideration 2008-2010 Preference 2008-2010
'Any Viasat Sports Channel' vs Canal+ Sport 'Any Viasat Sports Channel' vs Canal+ Sport
60% 30%
50% 25%
40% 20%
30% 15%
20% 10%
10% 5%
0% 0%
mar-08
maj-08
mar-09
maj-09
mar-10
jul-08
sep-08
nov-08
jan-09
jul-09
sep-09
nov-09
jan-10
mar-08
maj-08
mar-09
maj-09
mar-10
jul-08
sep-08
nov-08
jan-09
jul-09
sep-09
nov-09
jan-10
Viasat Sports Channel Canal+ Sport Viasat Sports Channel Canal+ Sport
Modern Times Group MTG AB
Nasdaq OMX Stockholm : MTGA, MTGB 8

9. PL = great opportunity to add weekly premium product…
29 match days / season 115 100
13 match weeks / season 38 30
Modern Times Group MTG AB
Nasdaq OMX Stockholm : MTGA, MTGB 9

10. PL vs. other national leagues – 3 times as strong as second best…
Measuring how strong a single right is to move a subscriber
9 0 ,
0
8 0 ,
0
7 0 ,
0
6 0 ,
0
5 0 ,
0
• Survey included 1 500 respondents, statistically
4 0 ,
0
representing the Swedish digital TV population
3 0 ,
0
• DTH, IPTV, DTT hhs
2 0 ,
0
1 0 ,
0
-
Premier Allsvenskan Superettan Italian Spanish
League League League
Modern Times Group MTG AB
Nasdaq OMX Stockholm : MTGA, MTGB 10

11. PL shifts the premium football balance to Viasat's favour
Modern Times Group MTG AB
Nasdaq OMX Stockholm : MTGA, MTGB 11

12. The right...and how we will use it
– Total exclusivity on all platforms (traditional broadcast, internet, mobile)
– License period 3 years, starting august 2010
– Match productions included in rights fee (including HD feeds of all matches)
Modern Times Group MTG AB
Nasdaq OMX Stockholm : MTGA, MTGB 12

13. Offerings per platform - price increase from 1st August
IP/Cable IP/Cable Partners Viasat DTH
Partners with HD
139  199sek 139  199sek (HD +40sek)
Viasat Fotboll SD Package
Viasat Sport 250 games
+HD Package
300 games
Viasat Sport HD + Extra channels
380 games
HD Viasat Premier League HD
EXTRA
Extra Channels 1-3
Modern Times Group MTG AB
Nasdaq OMX Stockholm : MTGA, MTGB 13

14. DTH price increases between 11% – 20%
• Price increase 1st August
communicated to subscribers
• Sport packages will increase more
than movie packages
• Viasat Gold lower price increase
EXTRA than smaller packages
• 269sek  319sek (+19%)
• 349sek  389sek (+11%)
Modern Times Group MTG AB
Nasdaq OMX Stockholm : MTGA, MTGB 14

15. Modern Times Group MTG AB
Nasdaq OMX Stockholm : MTGA, MTGB 15

16. From “DTH/DTT puddle” to Virtual Operator and Viasat Gold sales access
After analogue Jun 2008 Oct 2009 Feb 2010 Mar 2010
shut down 2007…
S-VOD on
internet
Modern Times Group MTG AB
Nasdaq OMX Stockholm : MTGA, MTGB 16

17. Why the PL acquisition makes financial sense
• PL will drive volumes
- pull sales - 550,000 C+ Sport subs with 50% hooked on PL
- push sales - Viasat sales access to 90% of all cable and 75% of all Swedish broadband homes
• PL will drive up ARPU and improve churn levels
- Prices up (eg. Viasat Premium Sport package in CATV: 5999139199sek)
- Accelerated HD uptake - New PL HD channel and double amount of HD matches
• Reasonable acquisition terms secured
- P&L amortisation on almost linear basis over 3 year contract period
- Short term Q3 and Q4 margin pressure BUT FY 2010 Nordic margin only slightly down as previously indicated
Modern Times Group MTG AB
Nasdaq OMX Stockholm : MTGA, MTGB 17

18. Summary – Why Premier League ?
• Great opportunity to further strengthen premium sport differentiation of Viasat and Viasat Fotboll
• Rights enable us to offer best ever TV coverage of Premier League - “closer to and more of” concept”
• Current sales access & virtual operator status enables maximum sales exploitation and volume growth
• Favourable conditions to enhance Viasat business performance with Premier League rights
Modern Times Group MTG AB
Nasdaq OMX Stockholm : MTGA, MTGB 18

19. Timing for acquisition of PL rights is perfect !
Modern Times Group MTG AB
Nasdaq OMX Stockholm : MTGA, MTGB 19

20. 2010 Capital Markets Day
Manfred Aronsson, Head of MTG Sweden
The New Game in Town
Modern Times Group MTG AB
Nasdaq OMX Stockholm : MTGA, MTGB 20