NRJ Group

Earnings Release • Dec 18, 2014

Press release – Paris, December 18, 2014

• NRJ Group states its ambitions for its TV division
• Editorial strengthening leading to a strategic program review
• Non-current expenses (with no cash-flow impact) on the 2014 consolidated accounts of 35,8** M€

The NRJ Group's Board of Directors met on December 18, 2014 to approve the group's consolidated budget for 2015. On this occasion, the new Managing Director for the Television division, Vincent Broussard*, provided an update on the division's recent results and, at the request of the general management, presented an ambitious editorial project to gain audience for the NRJ 12 and Chérie 25 channels.

The Board of directors approved this editorial strengthening decision.

Editorially, the objective is as follows:

• NRJ 12 :
• Build up more of a statutory channel positioning
• Strengthen the image of NRJ 12
• Target a wider audience around programs that unify different audience groups
• Focus on strategic slots: Access Prime Time and Prime Time
• Strengthen the development of digital by intensifying the monetizing of our content

- Chérie 25 :

• Focus the offer along two lines: magazines/documentaries and cinema/fiction
• Strengthen awareness of the channel.

For financial year 2014, a non-current depreciation of €35.8** million for program stocks which no longer meet the audience objectives of the TV division will be recorded.

Jean Paul Baudecroux, Chief Executive Officer of the NRJ Group, said: "I am convinced the Television division has the potential to succeed with the backing of the solid fundamentals of the NRJ Group. With this ambitious editorial project, the Television division will be able to strengthen its positioning and win over the loyalty of a wider audience thanks to ramping up of some of its iconic programs (its own unique, differentiated trademark brands) and the purchase of new programs which will offer recognized brands and a capacity to to bring people together. The group has always been inventive and innovative and is today devoting all its efforts to meeting its medium term objective: to return the Television division's operations to break-even."

Press contact : Finance contact : Jean-Baptiste Froville Célia d'Everlange Tel : + 33 1 58 47 95 39 Tel : + 33 1 40 71 78 05 jean-baptiste.froville@havasww.com cdeverlange@nrj.fr

NRJ Group is pleased to announce that it will present the editorial project for NRJ 12 and Chérie 25, at an investors' day which will be held on Friday 16, January 2015 at the NRJ Group studios (in the 16th arrondissement of Paris).

Schedule:

• Next meeting: 4th quarter financial information on February 5, 2015 (after market);
• Publication of 2014 annual results: March 17, 2015 (after market).

* Vincent Broussard, 46 years old, started his career in the Communications Department of the M6 Group in 1989. He went on to work for the Canal + Group as the head of broadcasting for Canal + Horizons and Canal Jimmy before returning to the M6 Group in 1993 as Deputy Director of Broadcasting at M6.

He then participated in the creation of Téva, Série Club, W9, and was appointed Deputy General Director of M6 thématiques.

In 2006 he became General Director of TF6 and Série Club.

From January 2011 to May 2012, he occupied the post of Director of Broadcasting and Programs at France 4 and Director of Acquisitions for the France Télévisions Group.

He was then appointed by Jean-François Lancellier Deputy General Director in charge of programs, programming and broadcasting for the TF1 Group for the two TNT channels: TMC and NT1.

** Unaudited figures

About NRJ GROUP

NRJ GROUP is one of the leading French private media groups and an international player present in 13 other countries, either directly or under licensing agreements with the NRJ/ENERGY brand, the number one international radio brand, and/or NOSTALGIE/NOSTALGIA. In France, the Group is the private radio market leader and one of the new players on the television market. The Group is also a significant player on the radio broadcasting market, through its subsidiary towerCast, number two on the French broadcasting market. NRJ GROUP is a publisher, producer and broadcaster, and markets its own media spaces. For several years, it has been supported by the strength of its radio media and its NRJ, NOSTALGIE, CHERIE FM and RIRE & CHANSONS brands, as well as its marketing expertise and commercial power for deploying new media, particularly in the Television division, or new ways to access its media, principally the internet, and related activities around partnerships in order to follow and anticipate consumer developments, while offering a wider range of advertising services for its clients.

NRG GROUP shares are listed on the Euronext in Paris (compartment B). Codes - ISIN: FR00012169; Reuters: SONO.PA; Bloomberg: NRG FP.

NRJ GROUP – Financial Communications, 46-50 avenue Théophile Gautier 75016 Paris www.nrjgroup.fr

NRJ GROUP, A public limited company with capital of €810,815.35 – SIREN 332 036 128 RCS PARIS Head office: 22 rue Boileau 75 016 Paris

Press contact : Finance contact : Jean-Baptiste Froville Célia d'Everlange Tel : + 33 1 58 47 95 39 Tel : + 33 1 40 71 78 05 jean-baptiste.froville@havasww.com cdeverlange@nrj.fr