Vend Marketplaces ASA

Earnings Release • May 11, 2017

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

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

Schibsted strengthens its position in the rapidly growing Brazilian online

classifieds site OLX.com.br by increasing the ownership from 25 to 50 percent.

Additionally, Schibsted increases its ownership from 50 to 100 percent in the

market leader in Chile, Yapo.cl, and creates a strong online classifieds cluster

in Latin America with leading positions in 5 countries in the region. The change

is a consequence of Schibsted taking over Telenor's share of SnT Classifeds.

OLX Brazil is the by far biggest online classifieds site in Brazil, with 6.3

million daily active users[1]. This represents a daily reach of 5 percent in

Brazil.

"I am very happy to announce that Schibsted is increasing its exposure to one of

the greatest successes in online classifieds in emerging markets, OLX Brazil.

The underlying development is very strong, we are excited about the further

prospects for strong growth both here and in Chile," CEO of Schibsted Rolv Erik

Ryssdal says.

"It makes strong strategic and financial logic sense for Schibsted to increase

our stakes in Brazil and Chile, and at the same time exit some Asian markets. We

now have a cluster of very interesting market leading online classifieds sites

not only in Brazil and Chile, but also in Mexico, Colombia and the Dominican

Republic. In total, our footprint covers a LatAm population of 400 million,"

Gianpaolo Santorsola, EVP Emerging Markets says.

OLX Brazil possesses an undisputed leadership position in generalist

classifieds. It also has a clear market leadership in cars, with seven times

more cars on the site than number two in the market, including private cars.

Also in the professional market, OLX Brazil is number one measured by ads

volumes[2].

In the real estate vertical, OLX Brazil is number one measured by traffic[3],

and a clear leader in the private market measured by number of listings. In the

professional real estate market, OLX Brazil is a strong challenger[4].

Revenues of OLX Brazil reached BRL 99 million in 2016, which represented a

growth of 120 percent compared to 2015. During 2016, OLX Brazil successfully

introduced monetization of the professional content in both cars and real

estate. The growth momentum is strong, and in Q1 2017, the revenue growth rate

accelerated further. Continued high growth is expected.

In Chile, Yapo holds strong positions in both the cars and real estate verticals

based on traffic, brand and content and is well positioned to take market shares

and increase revenues going forward.

The transaction implies that Schibsted takes over Telenor's 50 percent of SnT

Classifieds, which in its turn controls 50 percent of OLX Brazil and 100 percent

of Yapo in Chile. At the same time, Telenor takes over Schibsted's 33.3 percent

and Singapore Press Holdings' 33.3 percent of 701 Search, the company that

controls 100 percent of Mudah in Malaysia, Cho Tot in Vietnam, in addition to

operations in Myanmar. Schibsted has been a partner with SPH in Asia since

2006, and with Telenor in Asia and LatAm since 2013. The cooperation continues

at a smaller scale in selected Asian markets.

"I would like to thank SPH and Telenor for the cooperation in SnT and 701 Search

over these years. The development in our operations has been good, and together

we have created great value for our users, our customers and for our

shareholders," CEO Rolv Erik Ryssdal says.

As a result of the difference in valuation between the assets in Asia and LatAm,

Schibsted will make a cash payment of USD 400 million to Telenor. Schibsted will

finance the amount with debt, and has available funding.

Contact persons investors and analysts:

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

Jo Christian Steigedal, Head of IR. Tel: +47 415 08 733

Contact person media:

Anders Rikter, Director of Communications Tel: +47 920 84 996

Oslo, 11 May 2017

SCHIBSTED ASA

Jo Christian Steigedal

Head of IR

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[1] Source: OLX/Google Analytics (web), Fabric (apps)

[2] Source: Autobiz April 2017

[3] Source: Comscore

[4] Source: Autobiz

This information is subject to the disclosure requirements pursuant to section

5 -12 of the Norwegian Securities Trading Act.