Vend Marketplaces ASA

Earnings Release • Feb 19, 2016

CEO ROLV ERIK RYSSDAL, EVP CFO TROND BERGER, EVP CTO RIAN LIEBENBERG 19 February 2016

Q4 2015 HIGHLIGHTS

• Good progress for Online classifieds
• Steady, high organic growth in Online classifieds. Solid quarter in large markets like France, Spain and Scandinavia
• Continued focus to support growth and develop verticals through M&A; agreement to acquire Hemnet in Sweden signed in Q4
• Good traffic and listings development in Investment phase markets.
• Media houses investing in online products, and at the same time reducing overall cost significantly. High level of activity and innovation in editorial units
• Increased investments in product and tech to improve speed of development and capture new market opportunities

AGENDA

■Online Classifieds ■Media Houses ■Product & Tech ■Finance ■Summary

SOLID REVENUE AND EBITDA GROWTH IN ONLINE CLASSIFIEDS

Key established markets revenue growth Y/Y

Revenue growth in local currency

*) 16 percent adjusted for currency fluctuations

LEBONCOIN 10 YEARS; STEADY, HIGH GROWTH SUCCESSFUL PUSH IN REAL ESTATE MARKET

• Successful push in real estate market
• More than 70% of P3 bundle customers signed direct contract with Leboncoin by December 2015
• Strong end of the year for display advertising
• Continued growth for cars driven by volume and price optimization
• Product innovations drive further traffic growth and migration towards mobile
• 55% of visits from mobile devices in December 2015
• Large marketing campaigns and increased headcount related to sales and tech affect EBITDA margin negatively

NEW MOBILE FEATURES WELL RECEIVED IN THE MARKET

• New app rated 4.5 of 5 stars in AppStore and 4 of 5 stars in Google Play
• Several monetization features implemented in Leboncoin apps
• In-app display ads
• Extra photos in-app upsell
• Statistics on accounts
• More updates in pipeline
• New, responsive site with updated design to be launched shortly

Note: French iTunes account is required to download and test the iPhone app

CONTINUED GOOD GROWTH IN SPAIN

• 20% revenue growth in Q4 Y/Y
• Jobs and real estate are key revenue growth drivers
• Good development for display ads
• Vibbo new generalist brand and mobile app with similar functionality as native apps

STEADY DEVELOPMENT IN SOFT NORWEGIAN MARKET

• Good development in real estate
• Volume decline on jobs, improved price mix
• Margin decline in Q4 as a increased cost partly related to outsourcing of IT (capex swapped to opex). FY 2015 margin broadly flat Y/Y

SOLID GROWTH IN PROFESSIONAL REVENUES

Sweden

• Revenue growth supported by new verticals and professional auto
• Low marketing spend and headcount savings in the quarter supports EBITDA margin
• New product launches and good traffic growth for mobile apps

CONTINUED GROWTH IN INVESTMENT PHASE – SUPPORTED BY JVs AND ACQUISITIONS

• Steady growth in user metrics in Brazil. Particularly strong growth for mobile
• Net new ads per day +51% Y/Y in Q4
• Continuing the development of monetization initiatives
• High investments and good growth in Mexico. Successful integration of Anumex
• Clear market leadership and significant revenue growth in Hungary after consolidation

phase portfolio +83% Y/Y* 0 100 000 200 000 300 000 400 000 500 000 600 000 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2011 2012 2013 2014 2015

Approved new ads per day Investment

Total investments included in Q4 EBITDA NOK 175 million (106 million)

*) The graph include figures for (alphabetical order): Avito.ma, Chotot, Jofogas, Kapaza, Kufar, OLX Brazil, Shpock, Segundamano.mx, Tori.fi and Yapo. Note: Shpock is not included in the data.

INVESTMENTS IN SHPOCK YIELD STRONG GROWTH IN APP DOWNLOADS AND ENGAGEMENT

• Native mobile app Shpock expands the online classifieds segment
• Young users, small goods, fast ad insertion
• Among the most downloaded apps in Shopping category in UK, Germany and Austria. Strong start in Italy after launch in Q4
• Launched in existing established markets to develop new segments
• Increased ownership as of Q4; Schibsted now holds 91%

MEDIA HOUSES

VG AND AFTONBLADET CAPITALIZING ON OUTSTANDING REACH IN ONLINE NEWS

Total reach	51%	45%
	Million daily	unique visitors
	1.3	2.3
	0.4	0.5
	0.8	1.1
*	0.4	0.6
Paying digital subscribers	74'	234'

• Reaches close to half the population in Norway and Sweden every day
• Good growth in digital subscribers
• Solid traffic growth for web-tv
• Stable, solid margins

VG+Aftonbladet

WEAK AD MARKET, BUT STABLE MARGINS AFTER 10% COST REDUCTION SUBSCRIPTION NEWSPAPERS NORWAY

Schibsted Norge Subscription newspapers

• Stable circulation revenues Y/Y supported by good development in online subscriptions
• Increased ad decline driven by low activity in petroleum sector
• Print advertising revenues -23%
• Online advertising revenues -9%
• New targeted ad solutions launched
• Operating expenses -10%
• Continuous work product & technology and further adaption of cost base to market development

CONTINUED GROWTH AND INVESTMENTS IN MARKET POSITIONS SCHIBSTED GROWTH SWEDEN

• 14% underlying revenue growth ex Hitta.se
• Personal finance sites and price comparison site Prisjakt drives growth
• Good development for Prisjakt in markets outside Sweden

PRODUCT & TECH

Q4 2015

KEY TAKE-AWAYS

• Building new global platforms to provide top class digital products for publishers, marketplaces and advertisers; improve innovation and reduce time to market
• Positioning Schibsted to capture revenues in the fast growing online ad market – across media houses and marketplaces
• Digital ecosystems providing rich user data for better and more personalized services

WE ARE DEEPENING OUR FOUNDATION

COMMON PLATFORMS WILL FORM THE BASIS OF RENEWED EFFICIENCIES AND SUSTAINED INNOVATION

Benefits from common platforms

Accelerated innovation

Rapid experimentation and streamlined rollout of new features and products

Personalized products

Data-driven optimizations and tailored user experiences

Scale efficiencies

Common technological foundation across geographies and services

A CLOSER LOOK AT OUR PRODUCT AND TECH STACK

CAPATILIZING ON THE GROWING OPPORTUNITY PRESENTED BY DISPLAY ADVERTISING

Source: eMarketer

23% of Schibsted's group revenues and… 26% of Online classifieds revenues… …are from online display

ads

WE ARE UNIQUELY POSITIONED TO CAPITALIZE ON THIS OPPORTUNITY THROUGH OUR STRONG LOCAL BRANDS

blecket	Leboncoin	ANS I NETTO MOBILE TV	VING	O Prisjakt	SERVICEFINDER's	tv.	Rekhanei.com	fotocasa.es	Aftenpoften
Vergens & L Tidende	Chợ Tốt.vn	AFTONEDAVIET	FIND.	WILLHABEN.ATO	Fædrelandsvennen	DoneDealie	milanuncios	KUNDKRAFT	Compricer.se
teri.	Stavanger Aftenblad	SvD	hitta	daft.ie	Infojobs	Mudah.my	Syapo.a	Omni	POLITISM
Tripwell $\backslash tilde\{\backslash mathbf\{h\}\}$	OLX	$=$ , $\frac{\text{left's}}{\text{deal}}$	B. prêt d'union	W mittanbud.no	M Mobilio	MÖTESPLATSEN.st Hitta kärleken på nätet	Lendo	$\approx$ subito	Drive

WE WILL SELECTIVELY EXPAND INTO THE AD VALUE CHAIN BY LEVERAGING APPNEXUS

• AppNexus provides Ad serving technology
• Schibsted is building selected capabilities that will leverage our unique positions in local markets
• AppNexus is a neutral tech partner with no competing media buying activities
• We are positioning ourselves for the future rise in Provided by AppNexus programmatic channels

=

LEBONCOIN IS NOW ENTERING THE LOCALAD MARKET WITH SELF SERVE SOLUTION FOR SME'S

Local Advertising

• Leveraging hyper local targeting signals in local markets
• Benefit from AppNexus Ad Serving and Forecatsting cabalities
• Following success in France, continue launching Local Ad Products in other key markets throughout 2016

L'ATELIER BUSINESS – LEBONCOIN LOCALAD PRODUCT DEMO

WE ARE USING OUR ECOSYSTEM OF DIGITAL ASSETS TO BUILD THE DATA FOUNDATIONS FOR MORE PERSONALIZED AND ENGAGING SERVICES

ACCELERATEDMOBILE DEVELOPMENT IN EXISTINGMARKETPLACES

Share of mobile visits (%)

BUILDING NEXT GENERATIONMARKETPLACES TO ENABLE EFFICIENT SPEED AND SCALE

Global components to be rolled out across geopgraphies

• In-app communication
• User experience
• Social functions
• Content quality review
• Functionalities for verticalization

KEY TAKE-AWAYS

• Building new global platforms to provide top class digital products for publishers, marketplaces and advertisers; improve innovation and reduce time to market
• Positioning Schibsted to capture revenues in the fast growing online ad market – across media houses and marketplaces
• Digital ecosystems providing rich user data for better and more personalized services

FINANCE

DIGITAL INVESTMENTS IN 2016

Online classifieds Investment phase

• Continue to follow strategy to establish #1 positions in markets
• Continued high investments in Shpock.
• Total investments (consolidated+JVs) around same level as in 2015

New online product and technology development

• Around NOK 250-300 million included in EBITDA, compared to NOK 150 million in 2015

FULL YEAR INCOME STATEMENT SCHIBSTED GROUP

	Full year
(NOK million)	2015	2014
Operating revenues	15,117	14,975
Operating expenses	(13,101)	(13,034)
Gross operating profit (EBITDA) ex Investment phase	2,527	2,444
Gross operating profit (EBITDA)	2,016	1,941
Depreciation and amortization	(498)	(467)
Share of profit (loss) of JVs and associates	52	(841)
Impairment loss	(488)	(131)
Other income and expenses	1,079	8
Operating profit (loss)	2,161	510
Net financial items	(195)	(128)
Profit (loss) before taxes	1,966	382
Taxes	(575)	(509)
Profit (loss)	1,391	(127)
EPS (NOK)	5.79	-0.84
EPS - adjusted (NOK)	3.17	-0.73

Q4 INCOME STATEMENT SCHIBSTED GROUP

(NOK million)	Q4 2015	Q4 2014
Operating revenues	3,947	3,874
Operating expenses	(3,505)	(3,421)
Gross operating profit (EBITDA) ex Investment phase	617	559
Gross operating profit (EBITDA)	442	453
Depreciation and amortization	(132)	(118)
Share of profit (loss) of JVs and associates	(71)	(171)
Impairment loss	(465)	(121)
Other income and expenses	(79)	(95)
Operating profit (loss)	(305)	(52)
Net financial items	20	(56)
Profit (loss) before taxes	(285)	(108)
Taxes	(138)	(83)
Profit (loss)	(423)	(191)
EPS (NOK)	-1.93	-0.92
EPS - adjusted (NOK)	0.41	-0.25

EBITDA DEVELOPMENT IN Q4

KEY FINANCIAL FIGURES

CAPEX Net interest bearing debt Q313 Q413 Q114 Q214 Q314 Q414 Q115 Q215 Q315 Q415

CAPEX (NOK million) and CAPEX/Sales (%) Net interest bearing debt (NOK) and

Earnings per share Cash flow from operating activities/share

Ratio of Net interest bearing debt/LTM EBITDA

Note: NIBD/EBITDA according to bank definition.

UNDERLYING TAX RATE OF AROUND 31%

• Reported tax rate may deviate significantly from the nominal tax rates in our markets. The main reasons are:
• Share of profit (loss) of joint ventures and associated companies being reported net of tax
• Unrecognised tax benefits from tax losses in Online classifieds Investment phase operations
• Non-deductible expenses or non-taxable gains

	Full year 2015
Reported profit (loss) before taxes	1,966
Share of profit (loss) of joint ventures and associated companies	(52)
Other losses for which no deferred tax benefit is recognised*	700
Gain on remeasurement in business combinations and remeasurement of contingent considerations	(778)
Non-deductible expenses and non-taxable gains**	(437)
Impairment goodwill	430
"Adjusted" tax base	1,829
Taxes	575
Adjusted effective tax rate (575/1829)	31%
) Mainly online classifieds New ventures that are not in JVs or associated companies. *) Includes reported gains on sale of subsidiaries, joint

ventures and associated companies of NOK 422 million.

FINANCIAL FLEXIBILITY TO PURSUE BOLT-ON ACQUISITIONS AND ORGANIC GROWTH

Schibsted will seek further bolton acquisitions and organic growth within online classifieds

• Participating in consolidating efforts
• Expanding into additional verticals

• Entering new markets

• Status on key M&A cases

• Hemnet pending clearance by competition authorities
• Divestment of 20 Minutes France (50%) closed in Q1 2016
• Increased stake in Shpock from 82 to 91 percent executed in Q3 2015, consolidated in accounting terms as of September 2015

STABLE, STRONG FINANCIAL POSITION

• Repayment of short term debt during Q4
• Diversified debt structure both by maturity and sources
• Net Interest Bearing Debt NOK 792 million
• NIBD/EBITDA* at 0.4x end of Q4

*) NIBD/EBITDA according to bank definition.

Debt maturity profile

DIVIDEND OF NOK 1.75 PROPOSED

Dividend policy (summary)

Schibsted targets a pay-out ratio over time in the range of 25% to 40% of cash flow

• A balanced dividend level in a period of digital investment
• Equals NOK 395 million based on total number of shares outstanding

NEW REPORTING FORMAT FROM Q1 2016

Current segments New segments

Comparable historical figures to be distributed in March 2016

KEY TAKE-AWAYS

• Good progress for Online classifieds
• Steady, high organic growth in Online classifieds. Solid quarter in large markets like France, Spain and Scandinavia
• Continued focus to support growth and develop verticals through M&A; agreement to acquire Hemnet in Sweden signed in Q4
• Good traffic and listings development in Investment phase markets.
• Media houses investing in online products, and at the same time reducing overall cost significantly. Good journalistic achievements in the period
• Increased investments in product and tech to improve speed of development and capture new market opportunities

APPENDICES

Spreadsheet containing detailed Q4 2015 and Historical and analytical Information can be downloaded from www.schibsted.com/ir

KEY OPERATIONS – ONLINE CLASSIFIEDS

Q4	Q4	Full year
2014	2015 Finn.no (MNOK)	2015	2014
322	338 Operating revenues	1,472	1,421
133	130 EBITDA	655	637
41 %	38 % EBITDA margin	44 %	45 %
Q4	Q4	Full year
2014	2015 Blocket.se/Bytbil.se (MSEK)	2015	2014
211	244 Operating revenues	958	857
129	159 EBITDA	552	508
61 %	65 % EBITDA margin	58 %	59 %
Q4	Q4	Full year
2014	2015 Leboncoin.fr (MEUR)	2015	2014
39.2	47.2 Operating revenues	179.7	150.7
25.6	26.2 EBITDA	110.6	101.5
65 %	56 % EBITDA margin	62 %	67 %
Q4	Q4	Full year
2014	2015 SCM Spain (MEUR)	2015	2014
21.9	26.3 Operating revenues	99.0	84.7
1.3	7.0 EBITDA	24.7	14.0
6 %	27 % EBITDA margin	25 %	17 %

KEY OPERATIONS – MEDIA HOUSES

Norway Sweden

Q4	Q4		Full year
2014	2015	Verdens Gang (MNOK)	2015	2014
513	463	Operating revenues	1,817	2,009
315	296	of which offline	1,186	1,292
198	167	of which online	631	717
86	81	EBITDA	272	328
17 %	17 %	EBITDA margin	15 %	16 %
Q4	Q4	Schibsted Norge subscription	Full year
2014	2015	newspapers (MNOK)	2015	2014
858	767	Operating revenues	3,073	3,381
707	621	of which offline	2,521	2,841
151	146	of which online	552	540
63	53	EBITDA	186	253
7 %	7 %	EBITDA margin	6 %	7 %

Q4	Q4		Full year
2014	2015	Aftonbladet (MSEK)	2015	2014
511	505	Operating revenues	1,935	2,019
318	276	of which offline	1,152	1,320
193	229	of which online	783	699
74	65	EBITDA	233	237
14 %	13 %	EBITDA margin	12 %	12 %
Q4	Q4		Full year
2014	2015	SvD (MSEK)	2015	2014
255	257	Operating revenues	944	960
17		15 EBITDA	51	35
7 %	6 %	EBITDA margin	5 %	4 %
Q4	Q4	Schibsted Growth	Full year
2014	2015	(MSEK)	2015	2014
253	267	Operating revenues	1,008	953
55	55	EBITDA	210	207
22 %	21 %	EBITDA margin	21 %	22 %

CONSISTENT TRAFFIC GROWTH BOTH IN EUROPE AND IN EMERGING MARKETS IN Q4

Traffic growth European portfolio* Traffic growth outside Europe**

*) Finn, Blocket, BytBil, Coches.net, Donedeal IE, Fotocasa, Hasznaltauto, Infojobs Italy, Infojobs Spain, Jofogas, Kapaza, Kufar, Leboncoin, Milanuncios, Motos.net, Segundamano, Subito, Tori, Willhaben

Source: Internal figures/KeyWe/Google Analytics for Milanuncios

CASH FLOW

	As of Q4
(NOK million)	2015	2014
Profit (loss) before taxes	1,966	382
Gain on remeasurement in business combinations achieved in	(778)	(91)
stages and remeasurement of contingent consideration
Depreciation, amortisation and impairment losses	1,000	598
Share of profit of joint ventures and associated companies, net of	(25)	877
dividends received
Taxes paid	(738)	(635)
Sales losses (gains) non-current assets	(437)	(121)
Change in working capital	5	220
Net cash flow from operating activities	993	1,230
Net cash flow from investing activities	(1,513)	(1,580)
Net cash flow before financing activities	(520)	(350)
Net cash flow from financing activities	1,683	(116)
Effects of exchange rate changes on cash and cash equivalents	(17)	9
Net cash flow for the period	1,146	(457)
Cash and cash equivalents at start of period	745	1,202
Cash and cash equivalents at end of period	1,891	745

KEY FINANCIAL FIGURES

	Full year
Schibsted Media Group	2015	2014
Gross operating profit (EBITDA) (NOK million)	2,016	1,941
Gross operating profit (EBITDA) ex new ventures (NOK million)	2,527	2,444
Operating margins (%):
Operating margin (EBITDA)	13	13
Operating margin (EBITDA) ex new ventures	17	16
EPS (NOK)	5.79	(0.84)
Net cash flow from operating activities (NOK million)	993	1,230
Cash flow from operating activities per share (NOK)	4.56	5.73
Profit attributable to owners of the parent	1,263	(180)
Average number of shares (1 000)	218.135	214.777

CAPITAL STRUCTURE

	Full year
Schibsted Media Group	2015	2014
Investments (NOK million):
Operational investments (capex)	460	630
Shares and other holdings	1,797	1,572
Interest bearing borrowings (NOK million)	2,683	2,828
Net interest bearing debt (NOK million)	792	2,083
Interest bearing debt ratio (%)	1 2	1 6
Equity ratio(%) 1)	5 1	3 8

1) Treasury shares are offset against equity

BASIC INFORMATION

	A-Share	B-share
Ticker Oslo Stock Exchange: Reuters: Bloomberg:	SCHA SBSTA.OL SCHA:NO	SCHB SBSTB.OL SCHB:NO
Number of shares (17 Feb 2016)	108,003,615	118,803,976
Treasury shares (17 Feb 2016)	314,079	565,204
Number of shares outstanding	107,689,536	118,238,772
Free float*	74%	75%
Share price (17 Feb 2016)	NOK 240.50	NOK 225.00
Average daily trading volume (shares)**	279,000	222,000
Market Cap total (17 Feb 2016)		NOK 52.5 bn., EUR 5.5 bn., USD 6.1 bn., GBP 4.3 bn.

*) Total number of shares excluding treasury shares and shares owned by Blommenholm Industrier AS. **) Since 1 June 2015

SHAREHOLDER REGISTER

As of 18 January 2016

Rank Name	SCHA	SCHB	Total	Share
1 Blommenholm Industrier AS	28,188,589	28,598,589	56,787,178	25.0 %
2 Folketrygdfondet	5,596,577	7,905,577	13,502,154	6.0 %
3 Deutsche Bank AG *	1,498,600	6,652,239	8,150,839	3.6 %
4 NWT Media AS	4,000,000	4,150,000	8,150,000	3.6 %
5 J.P. Morgan Chase Bank N.A. London *	2,882,283	5,107,283	7,989,566	3.5 %
6 Goldman Sachs & Co Equity Segregat *	2,248,858	4,351,660	6,600,518	2.9 %
7 The Northern Trust Company Ltd. *	3,200,000	2,422,000	5,622,000	2.5 %
8 State Street Bank and Trust Co. *	2,172,176	2,320,065	4,492,241	2.0 %
9 UBS AG, London Branch *	2,672,945	1,619,195	4,292,140	1.9 %
10 J.P. Morgan Chase Bank N.A. London *	1,760,994	1,760,994	3,521,988	1.6 %
11 Morgan Stanley & Co. Llc *	1,343,024	1,777,110	3,120,134	1.4 %
12 Clearstream Banking S.A. *	2,270,770	653,217	2,923,987	1.3 %
13 State Street Bank and Trust Co *	1,385,224	1,522,502	2,907,726	1.3 %
14 J.P. Morgan Chase Bank, N.A *	1,524,189	1,284,906	2,809,095	1.2 %
15 UBS AG, London Branch *	1,362,244	1,416,230	2,778,474	1.2 %
16 The Bank Of New York Mellon *	1,205,401	1,360,624	2,566,025	1.1 %
17 The Northern Trust Co. *	1,287,950	1,240,044	2,527,994	1.1 %
18 Adelphi Investment Funds Public	1,155,964	976,527	2,132,491	0.9 %
19 State Street Bank & Trust Company *	1,058,848	1,057,044	2,115,892	0.9 %
20 Baillie Gifford Gl Alpha Pen Fund	1,040,706	1,040,706	2,081,412	0.9 %

Shareholders	SCHA	SCHB
% of foreign shareholders**	60.2 %	61.1 %
Number of shareholders	4,802	4,198
Number of shares	108,003,615	118,803,976
Shares ow ned by Schibsted	314,079	565,204

Largest country of ownership A+B
Norw ay**	39.3 %
USA	24.0 %
United Kingdom	19.0 %
Sw eden**	5.6 %
Japan	2.2 %
Luxembourg	1.6 %
**) NWT Media AS is counted as a Sw edish

shareholder.

Source: VPS

*) Nominee accounts

SHAREHOLDERANALYSIS

Rank Fund manager	% of	A Shares	B Shares	Total
	capital			shares
1 Blommenholm Industrier AS	25.04 %	28,188,589	28,598,589	56,787,178
2 Baillie Gifford & Co.	8.35 %	9,102,106	9,842,700	18,944,806
3 Folketrygdfondet	6.37 %	5,596,577	7,905,577	13,502,154
4 Luxor Capital Group, L.P.	5.23 %	3,150,012	6,475,669	9,625,681
5 Adelphi Capital LLP	4.21 %	4,943,829	4,521,314	9,465,143
6 NWT Media AS	3.59 %	4,000,000	4,150,000	8,150,000
7 Capital World Investors	3.54 %	2,882,283	5,107,283	7,989,566
8 Caledonia (Private) Investments Pty Limited	2.78 %	3,210,329	3,094,083	6,304,412
9 Alecta pensionsförsäkring, ömsesidigt	2.49 %	3,200,000	2,422,000	5,622,000
10 Tybourne Capital Management (HK) Limited	2.23 %	2,434,513	2,816,292	5,250,805
11 Marathon Asset Management LLP	1.80 %	1,884,811	1,895,877	3,780,688
12 Pelham Capital Ltd	1.70 %	0	3,689,109	3,689,109
13 The Vanguard Group, Inc.	1.63 %	1,589,135	1,700,758	3,289,893
14 Sw edbank Robur AB	1.38 %	1,376,988	1,521,988	2,898,976
15 SAFE Investment Company Limited	1.29 %	2,060,022	696,661	2,756,683
16 Scopia Capital Management LP	1.23 %	1,443,549	1,312,921	2,756,470
17 BlackRock Institutional Trust Company, N.A.	1.22 %	802,600	1,740,975	2,543,575
18 Platinum Investment Management Ltd.	1.16 %	1,326,602	1,193,539	2,520,141
19 KLP Forsikring	1.03 %	988,669	1,428,901	2,417,570
20 Mitsubishi UFJ Trust and Banking Corporation	1.01 %	1,162,124	1,004,294	2,166,418

Source: Nasdaq OMX. Data as of 22 January 2016.

The shareholder ID data are provided by Nasdaq OMX. The data are obtained through the analysis of beneficial ownership and fund manager information provided in replies to disclosure of ownership notices issued to all custodians on the Schibsted share register. Whilst every reasonable effort is made to verify all data, neither Nasdaq OMX or Schibsted can guarantee the accuracy of the analysis.

Updated information at:

www.schibsted.com/en/ir/Share/Shareholders/

INVESTOR INFORMATION

Visit Schibsted's web site www.schibsted.com

IR contacts: Jo Christian Steigedal VP, Head of IR jcs@schibsted.no +47 415 08 733

Anders Christian Rønning IRO anders.christian.ronning@schibsted.no +47 916 05 660

Schibsted ASA Apotekergaten 10, P.O. Box 490 Sentrum, NO-0105 Oslo Tel: +47 23 10 66 00. E-mail: schibsted@schibsted.no