Vend Marketplaces ASA

Notice of Dividend Amount • Mar 24, 2020

Schibsted ASA (SCHA/SCHB) - Annual accounts 2019 approved, cancelled proposal for 2019 dividend

Schibsted ASA (SCHA/SCHB) - Annual accounts 2019 approved, cancelled proposal for 2019 dividend

The Board of Directors and management of Schibsted ASA are taking measures to

respond to the uncertain situation created by the ongoing COVID-19 pandemic. The

Board has, in full agreement with management, decided to cancel its previously

announced proposal to pay a dividend for 2019 of NOK 2.00 per share.

"Given the uncertainties introduced by the COVID-19 pandemic, it would be

inappropriate to pay out the planned dividend. Therefore, the Board proposes to

the Annual General Meeting 6 May 2020 to cancel the dividend for 2019," Board

Chair Ole Jacob Sunde says.

The Board of Directors of Schibsted ASA has approved the annual accounts for

2019. There are no changes compared to the preliminary annual accounts published

13 February 2020.

Over the last few weeks, it became clear that the COVID-19 pandemic and the

measures to reduce the spread and health effects will have severe effects on

society and the economy at large, in the Nordics and throughout the rest of the

world. Schibsted is taking a range of measures in order to navigate through the

current situation. The Group's foremost priority is the health and safety of its

employees and to act responsibly in society, while at the same time supporting

its customers.

"I am proud and impressed to see that we are able to deliver a fully functional

service for our users and customers across all our businesses even though around

eight out of ten of our employees now work from home," CEO Kristin Skogen Lund

says.

"In a situation like this, it is of critical importance for society that our

News Media destinations continue to function as balanced and reliable sources of

information for the public. We have over the last weeks seen record high traffic

on our news sites, as well as strong growth in digital subscriptions within News

Media. At the same time, we see that many advertisers cancel or defer their

marketing campaigns. Hence, we expect a significant weakening of the overall

revenue trend for News Media towards the end of Q1, and we prepare for continued

weakness in Q2 2020," CEO Kristin Skogen Lund says.

Schibsted has also experienced reduced activity in the Nordic Marketplaces

business in March.

"As both individuals and businesses have been focusing on managing the initial

stage of the COVID-19 crisis, we see that the traffic and number of listings on

our marketplaces in the Nordics has gone down. This will affect revenues in the

short-term, as a large part of our revenues are directly related to the volume

of listings," CEO Kristin Skogen Lund says.

"For Lendo, the Swedish market, which is the most important driver, has seen a

rather stable demand. Management is currently evaluating options to reduce the

level of investments in the geographic expansion in light of the current

crisis," CEO Kristin Skogen Lund says.

Management is following the development of the COVID-19 pandemic and its

business implications closely and is considering various measures to mitigate

the negative impact on our revenues and profitability. Management will come back

with more detailed information on the revenue development and cost measures at

the Q1 2020 presentation.

"Lastly, I want to highlight that we, in these turbulent and uncertain times,

are highly committed to deliver on our social responsibility by providing

trusted and independent journalism and to leverage our marketplaces and

distribution services to alleviate the challenges the COVID-19 crises impose

upon society," says CEO Kristin Skogen Lund.

"Schibsted will continue to monitor and assess the situation as it evolves and

is fully committed to apply all necessary actions in line with Governments' and

Health Authorities' instructions and guidelines. At the same time, we will

continue to focus on the long-term development and act on upcoming business

opportunities," says Board Chair Ole Jacob Sunde.

Oslo, 24 March 2020

SCHIBSTED ASA

This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act