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Share Issue/Capital Change • Nov 22, 2017

Schibsted ASA (SCHA/SCHB) - Successful placement of new B-shares

Schibsted ASA (SCHA/SCHB) - Successful placement of new B-shares

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN

AUSTRALIA, CANADA, THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE PEOPLE'S

REPUBLIC OF CHINA, JAPAN OR THE UNITED STATES, OR ANY OTHER JURISDICTION IN

WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

Schibsted ASA ("Schibsted" or "the Company") is pleased to announce the

successful completion of the offering of 11,880,397 million new B-shares

announced on 21 November 2017, equal to 5.2% of the existing total share capital

of the Company or equal to 10.0% of the B-shares outstanding (the "Offering").

The Offering consisted of a private placement to institutional investors in

Norway and internationally. The Offering received good investor support, and was

completed at an offer price of NOK 211 per share, which was determined through

an accelerated book-building process. Settlement is expected to occur on or

around 24 November 2017.

Gross proceeds of the Offering amounted to approximately NOK 2,507 million or

approximately USD 305 million assuming a NOK/USD exchange rate of 8.22. The net

proceeds from the Offering will be used to strengthen the Company's capital base

and to finance strategic acquisition activities, especially within the Online

Classifieds segment, where the Company sees opportunities to do value accretive

in-market consolidation. The Company's overall strategy remains firm: to

continue to build online classifieds traffic and brand leadership positions and

to deepen the footprint in the real estate, car and jobs verticals. The recent

acquisitions of real estate portal Habitaclia.com in Spain, Avendrealouer.fr in

France as well as the purchase of Telenor's 25% interest in the Brazilian

operations olx.com are a testimony of Schibsted's strategic leadership focus.

Within Media, the ambition is to carry on the transformation into world-class

media houses based on strong editorial products.

Schibsted retained Arctic Securities, DNB Markets and Goldman Sachs

International as joint bookrunners in connection with the Offering (jointly the

"Managers"). As part of the Offering, Schibsted has entered into a placement

agreement with the Managers.

In accordance with the authorisation granted to the Board of Directors at the

Company's Annual General Meeting held on 12 May 2017, the Board of Directors has

approved the issuance of 11,880,397 new shares (the "New Shares") at a price per

share equal to the offer price for the Offering. In connection with the

Offering, the Board of Directors of the Company has resolved to set aside the

pre-emptive rights of the existing shareholders. The Board of Directors

considers this to be in the best interests of the Company and the shareholders

since it allows the Company to raise capital more efficiently, at a lower

discount and with lower transaction costs than in a rights offering.

Following the completion of the Offering and the issue of the New Shares,

Schibsted's share capital will increase by NOK 5,940,198.50 to NOK

119,343,994.00, comprised of 108,003,615 A-shares and 130,684,373 B-shares with

a nominal value of NOK 0.50 per share.

Schibsted and Blommenholm Industrier AS have entered into a share lending

agreement in order to facilitate delivery of the New Shares allocated in the

Offering on a delivery versus payment basis. As a result, the shares allocated

in the Offering will be settled with existing and unencumbered B-shares already

listed on the Oslo Stock Exchange borrowed from Blommenholm Industrier AS. Upon

settlement of the Offering, the capital increase will be registered in the

Norwegian Register of Business Enterprises. It is expected that the New Shares

will be issued on or about the time of settlement of the Offering. When the

shares are issued, they will be delivered to Blommenholm Industrier AS to

satisfy obligations under the share lending agreement.

Schibsted has agreed not to undertake a further issue or sale of B-shares or

securities convertible into such shares for a period of 90 days following

settlement of the Offering with the Managers, subject to customary exceptions.

For further information, please contact:

Trond Berger, CFO. Tel: +47 916 86 695

Oslo, 21 November 2017

Schibsted ASA

Jo Christian Steigedal

Head of Investor Relations

In any EEA Member State that has implemented Directive 2003/71/EC (such

Directive and amendments thereto, including Directive 2010/73/EU together with

any applicable implementing measures in the relevant home Member State, the

"Prospectus Directive"), this communication is only addressed to and directed at

qualified investors in that Member State within the meaning of the Prospectus

Directive.

In addition, in the United Kingdom, this announcement is not being distributed,

nor has it been approved for the purposes of Section 21 of the Financial

Services and Markets Act 2000 ("FSMA"), by a person authorised under FSMA and is

directed only at persons (i) who are persons having professional experience in

matters relating to investments who fall within the definition of "investment

professionals" in Article 19(5) of the Financial Services and Markets Act 2000

(Financial Promotion) Order 2005, as amended (the "Order"), or (ii) persons who

are high net worth entities falling within Article 49(2)(a) to (d) of the Order,

or (iii) other persons to whom it may lawfully be communicated ("relevant

persons"). Under no circumstances should persons who are not relevant persons

rely or act upon the contents of this announcement. Any investment or investment

activity to which this announcement relates in the United Kingdom is available

only to, and will be engaged only with, relevant persons.

This announcement is not an offer for sale of securities in the United States.

Securities may not be offered or sold in the United States absent registration

with the United States Securities and Exchange Commission or an exemption from

registration under the U.S. Securities Act of 1933, as amended. Schibsted ASA

does not intend to register any part of the offering in the United States or to

conduct a public offering in the United States of the shares to which this

announcement relates.

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

This information is subject to the disclosure requirements pursuant to section

5 -12 of the Norwegian Securities Trading Act.