Credit Suisse Seminar Series: Internet Portals London, July 14, Daniel Fard-Yazdani, Co-Head of Investor Relations

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1 Credit Suisse Seminar Series: Internet Portals London, July 14, 2015 Daniel Fard-Yazdani, Co-Head of Investor Relations

2 Disclaimer This document, which has been issued by Axel Springer SE (the "Company"), comprises the written materials/slides for a presentation of the management. Whilst all reasonable care has been taken to ensure that the information and facts stated herein are accurate and that the opinions and expectations contained herein are fair and reasonable no representation or warranty, express or implied, is given by or on behalf of the Company, any of its directors, or any other person as to the accuracy or completeness of the information or opinions contained in this document and no liability is accepted for any such information or opinions. This document contains forward looking statements which involves risks and uncertainties. These forward looking statements speak only as of the date of this document and are based on numerous assumptions which may or may not prove to be correct. The actual performance and results of the business of the Company could differ materially from the performance and results discussed in this document. The Company undertakes no obligation to publicly update or revise any forward looking statements or other information contained herein whether as a result of new information, future events or otherwise. This document does not constitute or form any part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any shares in the Company, nor shall it or any part of it nor the fact of its distribution form the basis of, or be relied on in connection with, any contract or investment decision in relation thereto. 2

3 Axel Springer at a Glance Highlights Germany s leading publisher with unique media brands Successful transformation with 73% of EBITDA from digital activities Organic growth supported by active M&A with strong track record Strong balance sheet and cashflow High dividend yield Revenues by segment 1) EBITDA by segment 1) 28% 45% Financials 5% 19% 59% 23% -11% 34% 2014 Outlook 2015 Classified Ad Models Paid Models Marketing Models Services / Holding Revenues 3,037.9 Low to mid single-digit % growth EBITDA High single-digit % growth EBITDA-margin 16.7% EPS (adj.) 2.01 Low double-digit % growth DPS (FY 2014) ) Based on Q1/15 figures. 3

4 Digital transformation along core areas of expertise 3 Zimmer mit Haus im Grünen, Moderne Altbauwohnung, 75 m², gesucht! 2 gesucht! Ich, 43, wohnung, 75 m², gesucht! 2 Wohnung Mitbewohner Moderne Altbau- Wohnung Finesse, niedrige von privat! Keine Energiekosten Courtage! 030 Beste Lage! Zi.,Kü,Bad. Ab w, suche Mitbewohner, m, der mir Chiffre 0815 sofort! Beste Lage! Zi.,Kü,Bad. Ab dank Solaranlage, Chiffre 0815 sofort! ca 83m² Wfl., im Haushalt hilft Zimmer mit Moderne Altbauwohnung, 75 m², Haus im Grünen, Mitbewohner Finesse, niedrige 3 Zimmer mit 650 Miete + NK Finesse, niedrige Mitbewohner oder mietähnliche Energiekosten gesucht! Ich, 43, Beste Lage! von privat! Keine gesucht! Ich, 43, Energiekosten Kaufraten, Bezug dank Solaranlage, w, suche Mitbewohner, m, der mir Mitbewohner, m, ca 83m² Wfl., Chiffre 0815 Courtage! 030 w, suche dank Solaranlage, sofort ca 83m² Wfl., Miete + NK im Haushalt hilft der mir im 650 Miete + NK Mitbewohner Mitbewohner Wohnung oder mietähnliche Haushalt hilft oder mietähnliche Haus im Grünen, gesucht! Ich, 43, gesucht! Ich, 43, gesucht! 2 Kaufraten, Bezug Kaufraten, Bezug von privat! Keine w, suche Mitbewohner, m, der mir wohner, m, der mir von privat! Keine w, suche Mitbe- Haus im Grünen, Zi.,Kü,Bad. Ab sofort sofort Courtage! 030 sofort! im Haushalt hilft. im Haushalt hilft. Courtage! 030 Moderne Altbauwohnung, 75 m², gesucht! 2 gesucht! Ich, 43, Wohnung jetzt Mitbewohner 3 Zimmer mit Haus im Grünen, Haus im Grünen, Finesse, niedrige von privat! Keine von privat! Keine Moderne Altbauwohnung, 75 m², Beste Lage! Zi.,Kü,Bad. Ab w, suche Mitbewohner, m, der mir Energiekosten Courtage! 030 Courtage! 030 Chiffre 0815 sofort! dank Solaranlage, Beste Lage! im Haushalt hilft. Moderne Altbauwohnung, 75 m², 650 Miete + NK Moderne Altbau- ca 83m² Wfl., Chiffre Zimmer mit Mitbewohner Mitbewohner Finesse, niedrige gesucht! Ich, 43, gesucht! Ich, 43, Beste Lage! oder mietähnliche wohnung, 75 m², Energiekosten w, suche 3 Zimmer mit w, suche Chiffre 0815 Kaufraten, Bezug Beste Lage! dank Solaranlage, Mitbewohner, m, Finesse, niedrige Mitbewohner, m, sofort Chiffre 0815 ca 83m² Wfl., der mir im Energiekosten der mir im Mitbewohner 650 Miete + NK Haushalt hilft. dank Solaranlage, Haushalt hilft. gesucht! Ich, 43, Moderne Altbauwohnung, 75 m², Kaufraten, Bezug 650 Miete + NK von privat! Keine oder mietähnliche ca 83m² Wfl., Haus im Grünen, Wohnung Haus im Grünen, w, suche gesucht! 2 von privat! Keine Mitbewohner, m, Beste Lage! sofort oder mietähnliche Courtage! 030 Zi.,Kü,Bad. Ab Courtage! 030 der mir im Chiffre Kaufraten, Bezug sofort! Haushalt hilft sofort Classified Ad Models Paid Models Marketing Models & For all segments: main activities only. 4

5 Active portfolio management accelerates shift to digital Revenues Advertising Revenues EBITDA 81% 37% 63% 70% 19% 81% 88% 27% 73% 19% 2009 Q1/15 30% 2009 Q1/15 12% 2009 Q1/15 Digital share. (Digital share of EBITDA in Q1/15 would be 81% if Services/Holding was fully allocated to non-digital.) Non-digital share. 5

6 Margin profile segments: Classified Ad Models with strong margin increase EBITDA margin in % Classified Ad Models Paid Models Marketing Models Q1/ Q1/ Q1/ EBITDA in m Q1/ Q1/ Q1/15 EBITDA EBITDA ex restructuring / launch costs EBITDA margin EBITDA margin ex LC/RC 6

7 Priorities going forward 1 Growth in Classifieds 2 Growth in Digital Subs 3 Growth in US/UK 7

8 Highlights Classified Ad Models

9 Classified Ad Models segment at a Glance Highlights Portfolio of market leading classified ad models 9 out of 10 activities #1 Jobs #1 in Germany Classified Ad Models Real Estate #1 in France Cars #1 in France Digital classifieds clear beneficiary of structural shift from print to online #1 in UK #1 in Belgium Local #1 in Germany Strong market positions yielding high margins 85% ownership and option for remaining 15% #1 in Ireland, South Africa Financials #2 in Germany & Generalist #1 in Israel Travel #1 in Netherlands and Belgium 2014 Outlook 2015 Revenues Significant increase EBITDA Significant increase EBITDA-margin 43.2% 9

10 Significant revenue growth in jobs vertical Jobs EBITDA share 50% Real estate EBITDA share 32% in m Q1/15 Q/14 yoy Revenues % Revenues (pro forma) % EBITDA* % Margin 42.2% 45.1% -2.9pp in m Q1/15 Q1/14 yoy Revenues % Revenues (pro forma) % EBITDA* % General/Other EBITDA share 20% Margin 45.0% 46.7% -1.8pp in m Q1/15 Q1/14 yoy Revenues >100% Revenues (pro forma) % EBITDA* >100% Margin 33.6% 15.7% 17.9pp * Total EBITDA includes costs of 1.3m in Q1/15 and 0.8m in Q1/14 (thereof business development, M&A and other), not allocated to the three pillars. 10

11 StepStone: Lead over competitors is widening Company profile #1 job portal in Germany, UK and Belgium High growth driven by operational excellence and market share gains Applications per job ad in Germany; ) Revenue growth and scalability of business resulting in strong margin improvement Competitor x3.2 x2.6 x1.9 Several bolt-on acquisitions enabling knowhow transfer and best practice exchange Competitor x3.5 x3.1 x2.0 Relevance of direct search in Germany limited Competitor x3.6 x4.7 x4.6 Competitor x5.1 x7.1 x7.5 1) Source: TNS Infratest 11

12 SeLoger revenue growth driven by strong ARPA development Company profile #1 specialist real estate portal in France Monthly ARPA depending on regions (EUR) Penetration rate with real estate agents >80% Excellent competitive position and beneficiary from print to online shift Continued revenue growth driven by strong ARPA development over the last ten years Paris area Province Total (excl. verticals) Total (incl. verticals) Note: ARPA figures as of December of each year 12

13 Consolidating German real estate portals Joining forces Together they create a strong #2 13

14 Investor Relations contacts Claudia Thomé Co-Head of Investor Relations Phone: Mobile: Daniel Fard-Yazdani Co-Head of Investor Relations Phone: Mobile: Axel Springer SE: Axel-Springer-Str. 65, Berlin, Germany, Fax: