NRJ Group

Earnings Release • Jul 25, 2013

25 July 2013

Consolidated revenues¹ for the first half of 2013 up 12.6% to 211.3 million euros

• Growth in the radio business excluding MFM, driven by the increase in audience levels for the Group's radio stations (Médiamétrie wave April-June 2013),
• Record target audience figures for television with NRJ12 and successful positioning for CHERIE 25 (TV audience on targets – Médiamat, January-June 2013),
• Growth in business internationally,
• Success of the new musical "1789 Les Amants de la Bastille",
• Solid growth for the Broadcasting business.

6 months to 30 June In million euros	2013	2012	Change
Music Media and Events	99.3	98.8	+0.5%
Television	41.9	42.1	-0.5%
International Business	21.1	20.7	+1.9%
Shows and Other Productions	22.3	2.1	+962%
Broadcasting	26.7	24.0	+11.3%
Revenues excluding dissimilar barters	211.3	187.7	+12.6%
Dissimilar barters	2.5	1.9	+31.6%
Revenues including dissimilar barters	213.8	189.6	+12.8%

The Group's consolidated revenues (excluding dissimilar barters) came to 211.3 million euros for the first half of 2013, compared with 187.7 million euros for the first half of 2012, up 12.6% (+12.6% on a comparable basis and at constant exchange rates).

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During the first half of 2013, the Music Media and Events division generated 99.3 million euros in revenues, compared with 98.8 million euros for the first half of 2012, up 0.5%. For the Radio business alone, revenue growth came in at 2.5% on a comparable basis, i.e. excluding MFM radio, despite a difficult market environment.

According to the latest audience survey carried out by Médiamétrie over the period from April to June 2013, NRJ is once again France's leading radio station, with 6,522,000 daily listeners² . In addition, for the first time in the Group's history, all the indicators for all the stations (NRJ, NOSTALGIE, CHERIE FM and RIRE ET CHANSONS) are up over one year³ . All combined, with its four radio stations, NRJ GROUP has confirmed its position as France's leading private radio group, with close to 12.6 million daily listeners² .

The Television business recorded 41.9 million euros in revenues for the first half of 2013, compared with 42.1 million euros for the first half of 2012, down -0.5% in a particularly difficult television advertising market (-6.4% on a comparable basis, i.e. excluding revenues generated by CHERIE 25).

In terms of audiences, NRJ 12 continued rolling out its effective targeting strategy during the first half of 2013, achieving growth in one year on its priority targets, particularly 25-49 year olds, with a +7% increase in its audience share, as well as women under 50 in charge of purchases, with its audience share climbing +32% to reach 3.7% on this target. Alongside this, the channel has maintained its position across all targets, with an audience share of 2.4% for the first half of 2013⁴ . Each day, the channel attracts almost 9.7 million viewers⁵ .

¹ Revenues excluding dissimilar barters

² Aggregate audience

³ Change in aggregate audience, quarter of an hour average, audience share and listening duration per listener, April-June 2013 vs April-June 2012 NRJ 12: Médiamétrie, Médiamat, consolidated audience, January-June 2013, 4 year-olds and over + indicated targets, Monday to Sunday, extrapolated average rate and audience share, 03:00-27:00, NRJ 12

Concerning CHERIE 25, the channel's first audience results are encouraging, with 64% of its audience made up of women aged 15 and over, and a 0.4% audience share on women under 50 in charge of purchases⁶ .

Lastly NRJ HITS and NRJ PARIS have achieved excellent audience scores⁷ . NRJ HITS is still the leading Cable/Satellite and ADSL music channel, with the strongest rate of growth among music channels and a lead over its nearest rival which has been extended even further, up +255%⁸ . The channel is watched by more than 6 million viewers each month⁹ . This season, NRJ PARIS has seen progress across all its indicators, in addition to achieving a triple historical audience record¹⁰ .

Revenues for the International Business division totalled 21.1 million euros, compared with 20.7 million euros for the first half of 2012, an increase of 1.9% (+1.9% on a comparable basis and at constant exchange rates), thanks more specifically to revenue growth in Germany and Belgium.

The Shows and Other Productions division posted 22.3 million euros in revenues for the first half of 2013, compared with 2.1 million euros for the first half of 2012, up +962%, primarily reflecting the success of the musical "1789, Les Amants de la Bastille". This figure also factors in the growth achieved by the music label business.

The Broadcasting division has continued to develop, particularly on the digital terrestrial television market, with the deployment of six new HD channels. Its contribution to consolidated revenues represented 26.7 million euros for the first half of 2013, up 11.3% compared with the 24 million euros recorded during the first half of 2012.

Recent developments

At the beginning of the third quarter of 2013, the Group has recorded an increase in its advertising revenues in France to date compared with the same period last year.

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About NRJ GROUP

NRJ GROUP is one of the leading private media groups in France and an international player present in 22 other countries, either directly or under brand licensing agreements with NRJ/ENERGY, 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 growing 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 on television, and related activities around partnerships, such as Mobile Telephony, in order to follow and anticipate consumer developments, while offering a wider range of advertising services for its customers.

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

The Group will be publishing its earnings for the first half of 2013 on 29 August 2013 (press release published after close of trading on the Paris Stock Exchange)

Analyst and Investor Information NRJ GROUP – Financial Communications, 46-50 avenue Théophile Gautier, 75016 Paris, France Frédéric Patureau / Tel: +33 1 40 71 78 05 / email: fpatureau@nrj.fr NRJ GROUP – ISIN: FR000121691 / Reuters: SONO.PA / Bloomberg: NRG FP www.nrjgroup.fr

NRJ GROUP - French limited company (société anonyme) with a capital of 810,815.35 euros - SIREN trade register number 332 036 128 PARIS Registered office: 22 rue Boileau, 75016 Paris, France

⁴ Audience share, NRJ 12, January-June 2013 vs January-June 2012, 4 year-olds and over

⁵ Aggregate rate

⁶ Médiamétrie, Médiaplanning files, May-June 2013, 15 year-olds and over + indicated targets, Monday to Sunday, 03:00-27:00

⁷ Médiamétrie, Médiamat'Thématik, consolidated audience, complete Wave 25 from 31 December 2012 to 16 June 2013, 4 year-olds and over, Monday to Sunday, 03:00-27:00

⁸ Extrapolated average rate and change in extrapolated average rate, Wave 25 vs Wave 23

⁹ 4 weeks coverage, viewing threshold 10 consecutive seconds

¹⁰ Médiamétrie, Local TV survey, September 2012 - June 2013, base 15 years and over equipped with TV in Paris Region, extrapolated average rate–extrapolated aggregate rate–audience share–listening duration per viewer and historical records for extrapolated average rate–audience share and listening duration per viewer.