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Major Shareholding Notification • May 16, 2017

Schibsted ASA (SCHA/SCHB) - Detailed stock exchange notice - Schibsted increases ownership in fast growing online classifieds market leader in Brazil, OLX, to 50 percent

Schibsted ASA (SCHA/SCHB) - Detailed stock exchange notice - Schibsted increases ownership in fast growing online classifieds market leader in Brazil, OLX, to 50 percent

Detailed Stock Exchange announcement - addition to the notice release 11 May

2017 "Schibsted increases ownership in fast growing online classifieds market

leader in Brazil, OLX, to 50 percent."

Key financial information for the Brazilian operation (Silver Brazil JVCO BV and

subsidiaries) and the Chilean operation (Yapo.cl SpA) is disclosed in the table

below (figures for 100% of the operations).

+-------------------------+---------------+--------------------+

| NOK million | Brazil | Chile |

+-------------------------+-------+-------+------+------+------+

|   | 2016 | 2015 | 2016 | 2015 | 2014 |

+-------------------------+-------+-------+------+------+------+

| Operating revenues | 216 | 97 | 35 | 17 | 7 |

+-------------------------+-------+-------+------+------+------+

| Operating profit (loss) | (208) | (474) | (19) | (42) | (33) |

+-------------------------+-------+-------+------+------+------+

| Net profit (loss) | (230) | (486) | (13) | (48) | (33) |

+-------------------------+-------+-------+------+------+------+

| Non-current assets | 1,868 | 1,558 | 3 | 2 | 6 |

+-------------------------+-------+-------+------+------+------+

| Current assets | 131 | 132 | 16 | 17 | 8 |

+-------------------------+-------+-------+------+------+------+

| Equity | 1,776 | 1,346 | (90) | (82) | (32) |

+-------------------------+-------+-------+------+------+------+

Before the transaction, the Brazilian and Chilean operations were both joint

ventures of Schibsted accounted for using the equity method of accounting. The

financial information presented is based on the financial reporting used in

recognizing those operations in the consolidated accounts of Schibsted in the

relevant periods. Silver Brazil JVCO BV was established in January 2015 when the

Brazilian operation of Schibsted and Telenor merged with the Brazilian operation

of Naspers and the financial information presented is for the combined entity

for the period after establishing. The non-current assets in Brazil are

primarily intangible assets recognized in connection with the January 2015

combination of operations. After the transaction, the Brazilian operation will

still be a joint venture accounted for under the equity method of accounting and

50% of its net profit will be recognized as share of profit (loss) of joint

ventures by Schibsted. The Chilean operation will be consolidated.

701 Search has been an associate of Schibsted. The share of net loss recognized

in the consolidated financial statements of Schibsted under the equity method of

accounting is NOK 174 million, NOK 15 million and NOK 34 million for the years

2014, 2015 and 2016, respectively. The figures are not comparable as certain

markets were transferred from 701 Search in January 2015.

Gains of approximately NOK 1.3 billion will be recognized in the consolidated

financial statements of Schibsted in  upon closing, which is expected in Q2

2017  related to gain on sale of 701 Search and gain on remeasurement of

previously held ownership interest in the Chilean operation. Total assets,

primarily in the line items investments in joint ventures and intangible assets,

will increase by approximately NOK 4.8 billion as a result of ownership

interests acquired and remeasurement of previously held ownership interests.

Board members of Silver Brazil JVCO BV: Martin J Scheepbouwer, Ariel Lebowits,

Ragnar H Korsaeth, Olivier F Aizac, Alejandro C.F. Oxenford and Gianpaolo

Santorsola

CEO of Silver Brazil JVCO BV (in operating entity Bomnegocio Atividades):

Andries Oudshoorn.

Number of employees in Silver Brazil JVCO BV and subsidiaries: 483

Board of Yapo.cl SpA: Juan Elias

CEO of Yapo.cl SpA: Juan Elias

Number of employees in Yapo.cl SpA: 99

Oslo, 16 May 2017

SCHIBSTED ASA

Jo Christian Steigedal

Head of IR

This information is subject to the disclosure requirements pursuant to section

5 -12 of the Norwegian Securities Trading Act.