North Media

Earnings Release • Mar 8, 2013

8 March 2013
Company announcement no 05-13

The Annual General Meeting was held in accordance with the agenda issued.

The management commentary was presented and the Annual Report for 2012 was
adopted. The Group’s revenue stands at DKK 1,105 million for 2012, which is 9%
down on 2011. Group EBIT for 2012 amounts to DKK 100.5 million, which is much
lower than Group EBIT for 2011 of DKK 166.5 million.

In the management commentary, Lars Nymann Andersen, CEO, stated that, seen in
isolation, the financial performance for 2012 was satisfactory, but that the
earnings expectations for 2013 are unsatisfactory. The Group’s EBIT for 2013 is
estimated to range from a negative DKK 15 million to a positive DKK 15 million.

The decline is due to FK Distribution realising a lower profit. The increase in
newspaper and online activities did not suffice to compensate for this.

The Group is developing new and supplementary business models that are expected
to increase earnings in the long run.

The Board of Directors and the Executive Board emphasise the importance of
North Media having solid capital resources, which is considered a considerable
strategic advantage in a market undergoing structural change, enabling the
Group to make long-term targeted efforts. The long-term perspective is key to
creating growth for the Company in the long run.

At 31 December 2012, the Group’s net interest-bearing cash position is DKK 66.3
million.

Cash flows from operating activities for 2012 were DKK 91 million compared to
DKK 156 million for 2011. The reason for this is the declining operating profit
combined with the payment of income tax payable for prior years.

Referring to this and considering the earnings expectations for 2013, Lars
Nymann Andersen, CEO, pointed out that the Board of Directors recommended the
Annual General Meeting not to distribute dividend for the financial year 2012.

The Annual General Meeting granted discharge to the Board of Directors and the
Executive Board and approved the proposed distribution of profit for the year
as disclosed in the Annual Report, including the Board of Directors’
recommendation not to distribute dividend.

Richard Bunck, Peter Rasztar, Steen Gede and Ulrik Holsted-Sandgreen were
re-elected to the Board of Directors. The Board of Directors is now made up of
Richard Bunck, Peter Rasztar, Steen Gede and Ulrik Holsted-Sandgreen.

Immediately after the Annual General Meeting, the Board of Directors elected
Richard Bunck as Chairman and Peter Rasztar as Vice-Chairman.

As proposed by the Board of Directors, Deloitte Statsautoriseret
Revisionspartnerselskab was re-appointed as company auditor.

Please contact Lars Nymann Andersen, Chief Executive Officer, at +45 39 57 70
00 for further information.

Yours faithfully
North Media A/S

Richard Bunck
Chairman of the Board of Directors

This document is an unofficial translation of the Danish original. In the event
of any inconsistencies the Danish version shall apply.