Media & Investments

Corporate Presentation FY17-18 OVERVIEW

2 Key Strengths

Leading Media company in with largest bouquet of channels (53 domestic  channels and 16 international beams), and a substantial digital presence

Market-leader in multiple genres (Business News #1, Hindi General  Entertainment #1 Urban, Kids #1, English Entertainment #1)

Key “Network effect” and play on Vernacular media growth - Benefits of Strengths  Regional portfolio across News (14) and Entertainment (7) channels

Marquee Digital properties (MoneyControl, BookMyShow) & Entry into  OTT video (VOOT) provides option value and content synergy

 Experienced & Professional management team, Strong promoters

3 Building India’s leading media company

2016+ • OTT video platform, revamp of portals Filling whitespaces, umbrella branding, • Hindi Movie and Music channels thrust on digital • News (TV+Digital) expanded and relaunched

• ETV acquisition (Regional News +Entertainment) 2012-2015 • Indiacast setup for distribution of TV bouquet Regional entry to tap vernacular market • NW18 acquired by RIL, corporatization thrust

• JVs with Viacom & A+E networks, Forbes 2005-2011 • Invest in Home shopping, Online Ticketing Entry into Entertainment and Digital • News, Opinions & Info portals

1999-2005 • Business News (CNBC cluster) Built core platforms and launched • General News (IBN cluster) flagships • Finance portal (MoneyControl)

4 Network18 group : TV & Digital media, specialized E-commerce & Print

~75% held by Independent Media Trust, of which RIL is Network18 Print the sole beneficiary

Digital Commerce Digital Content Broadcasting (Investments)

Finance News Home shopping

Entertainment Entertainment News & Ticketing Opinions Infotainment Travel

Network18 holds ~51% of subsidiary TV18. NW18 owns ~44% in HS18, ~39% in TV18 in turn owns 51% in Viacom18 and Infotainment BookmyShow, and ~7% in Yatra 51% in AETN18 (see next page for details)

Network18 holds ~92% in Moneycontrol. Others are in standalone entity. TV18 group – Broadcasting pure-play, across News & Entertainment ENTITY GENRE CHANNELS

Standalone entity Business News (4 channels) TV18 TV18 Group General News 100% subsidiary (2 channels) 51.16% held by Panorama Network18 Regional News 50% JV with Lokmat group (14 channels) IBN Lokmat

AETN18 Infotainment (2 channels) 51% subsidiary - JV with A+E Networks Entertainment VIACOM18 (inc. Movie production / distribution & OTT) 51% subsidiary - JV with Viacom Inc Regional Entertain. Distribution - (7 channels in 6 INDIACAST geographies) 50:50 JV of TV18 & Viacom18 Telugu News & Operated by the Eenadu group, owned by ETPL (Eenadu) Entertainment . Ramoji Rao () 24.5% holding (associate) (5 channels) 6 FINANCIAL SUMMARY

7 Network18 and TV18 Annual Financials – A snapshot

OPERATING REVENUES (Rs Cr) FY18 FY17 Growth A) Business + General News (TV18 standalone) 735 667 10% B) Regional News (ex IBN-Lokmat) + Infotainment 297 316 -6% C) Entertainment (Viacom18+Indiacast) 3,781 3,160 20% D) TV18 Consolidated 4,813 4,142 16% E) NW18 Digital and Print 213 191 12% F) Network18 Consolidated 5,027 4,333 16%

OPERATING EBITDA (Rs Cr) FY18 FY17 Growth A) Business + General News (TV18 standalone) 157 122 29% B) Regional News (ex IBN-Lokmat) + Infotainment -115 -91 NM C) Entertainment (Viacom18+Indiacast) 198 139 43% D) TV18 Consolidated 240 170 41% E) NW18 Digital and Print 31 10 193% F) Network18 Consolidated 187 132 42%

For a better understanding of group performance and comparability considering the corporate actions as below, the financials are being restated and represented by consolidating Viacom18 and Indiacast and excluding HomeShop18 throughout. • Network18 subsidiary TV18 took operational control and increased its stake to 51% in Viacom18 by acquiring 1% equity from JV partner Viacom Inc. Viacom18 and Indiacast became subsidiaries of TV18 from 28th February 2018 and hence the reported financials of TV18/Network18 consolidate these entities now. • HomeShop18 ceased to be a subsidiary of Network18 from 15th Feb 2018, as a result of its acquisition of ShopCJ through a share-swap.

IBN Lokmat being a 50:50 JV, it is not consolidated under Ind-AS accounting. Above financials also do not include associate companies (primarily Eenadu TV for TV18; BookMyShow and HomeShop18 for Network18) where Network18/TV18 have minority stakes.

8 Investments into new initiatives in TV18

 Focusing on filling whitespaces scaling up in areas of leadership over last 3 years . National News – No new channels. CNBCTV18.com launched in April 2018 (not included below) . Regional News – 8 new channels over past FY16-FY17 . Infotainment – Lifestyle channel ‘FYI’ in early-FY17 . Entertainment – OTT platform VOOT, Second Kannada GEC Color Super, Music channel MTV Beats, HD feeds for 3 regional channels (all early FY17), Tamil GEC Colors Tamil (late FY18)

 Regional and Digital the 2 key axes for growth via new launches

New initiative losses (Rs Cr.) FY16 FY17 FY18 General entertainment - launches (inc regional & digital) 95 266 45 Regional news - launches 45 73 Factual entertainment - launches 0 27 Rebranding and re-launch 20 TOTAL : New initiative losses * 160 366 45

* We define new initiative losses as the operating losses of any major new launch or project, which we declare for a period of 4 quarters from launch at an aggregate entity level. The purpose is to allow an understanding of Business- as-usual profitability for the entity vs the prior period, as well as the trajectory of losses for the new initiative over the first year of its operations. A new initiative gets subsumed into Business-as-usual post this period, though the actual gestation period may be longer (and hence losses may continue beyond these 4 quarters).

9 TV18 group: Closing the gap with competition

TV18 group is a ~Rs 5000Cr media group, with a market-cap of US$ 1.8bn

 TV18 is the fourth largest broadcast group in the country after Star, Zee and Sony.  The group reaches 700+ mn people, across News, Entertainment and Infotainment.  Portfolio viewership continues to grow. • News (#2): Share has grown to 9.5%, and continues to rise further driven by regional channels. • Entertainment (#3 ex-sports) : Share has grown to 11.3%, despite not having exposure to sports • Infotainment (#2) : Niche genre within entertainment NEWS ENTERTAINMENT (ex-Sports)

25.0%

13.0% 20.0% 11.0%

9.0% 15.0%

7.0% 10.0% 5.0%

3.0% 5.0%

1.0% 6.6% 5.3% 4.8% 5.2% 5.6% 8.0% 9.1% 9.3% 9.2% 9.5% 9.5% 9.7% 10.4% 9.6% 10.5% 11.0% 10.7% 10.7% 11.0% 11.3% 0.0%

-1.0%

Q3FY17 Q3FY18 Q4FY16 Q1FY17 Q2FY17 Q4FY17 Q1FY18 Q2FY18 Q4FY18

Q3FY17 Q3FY18 Q3FY16 Q4FY16 Q1FY17 Q2FY17 Q4FY17 Q1FY18 Q2FY18 Q4FY18 Q3FY16* TV18 News Zee ABP Viacom18 Sony Star Zee TV Today TV9 IndiaTV BROADCASTING - GENRE-WISE DETAILS

All viewership information is based on Q4FY18 BARC data in their respective genres

11 Business News

Audience : NCCS 25+ AB Male Audience : NCCS 25+ AB Male, HSM Key Demographics Significant OOH Viewers across HIG Channel for people in Business across Hindi Business People in Metros Speaking Markets

Competition CNBC TV18 garnered 68% viewership – Awaaz garnered 73% viewership is at No. 1. greater than ET Now & BTVi combined. Zee Business is the other player.

We created and dominate the Business News Genre Operating ~68% viewership share and over 75% market share in advertising**** Metrics Significant Out of Home Viewership (not captured by BARC) gives premium positioning Positive leverage to equity markets, Events and IPs provide resilience

Launch Date Launched in 1999 Launched in 2005 CNBC - Brand Licensor* CNBC - Brand Licensor

*The Brand License agreement with CNBC was renewed till March 2028.

***Source: Internal Company Estimates 12 General News

Audience : NCCS AB Male 22+, All India Audience : NCCS All 15+, HSM Key Demographics English Speaking, Channel for the Masses in the Hindi HIG Heartland

Market Split among the Big 5 Highly Fragmented but substantially Competition Republic TV & Times Now are leaders, larger market compared to English News CNN News18, NDTV 24x7 & India Today Aaj Tak, India TV, ABP News, - Television are the challengers Competition in Top 5

In Q4 FY18, CNN-News18 was the #4 Operating #8 rank in Q4FY17 (8.8% viewership General English News channel with Metrics share) has now risen to #5 (11.1%) 10.2% viewership share.

Launched as CNN-IBN in December 2005; Acquired in 2006 from Dainik Jagran Launch Date Re-launched as CNN-News18 in April Rebranded from Channel 7 to IBN7; 2016 Rebranded again from IBN7 to News18 CNN - Brand Licensor*** India in Nov’2016

***The Brand License agreement with CNN was renewed in December 2015 for a period of 10 years

13 National News : Viewership share – Business and General News

 Completely dominate the Business News genre  General News seeing revival in traction, especially in Hindi ENGLISH HINDI BTVi, 7.8%

Zee ET Now, Business, 24.1% 27.3%

CNBC TV18, CNBC 68.1% Awaaz,

72.7% BUSINESS NEWS BUSINESS

Others, 11.1% Others, 19.8% Aaj Tak, NDTV 24x7, 7.7% 15.5% Republic TV, India 30.6% News, CNN 8.2% India TV, News18, 12.5% 10.2%

India Today News ABP GENERAL NEWS GENERAL Television, Times Now, 25.7% Zee Nation, News, 14.7% News, 9.6% 11.4% 11.8% News18 India, 14 11.1% Regional News  14 regional channels reach ~60 crore viewers across 26 states through 13 languages  The regional cluster’s share of overall TV News viewership has risen from 2.5% (Q3FY17) to 4.5%  All ETV/IBN branded channels were migrated to News18 umbrella during FY18

Language Marathi Urdu Hindi Hindi Hindi Hindi Hindi/Punjabi

All Urdu , Bihar MP UP Focus Markets Speaking Rajasthan Haryana & Jharkhand Chhattisgarh Uttarakhand Markets Himachal P. Mar 2014 Launch date 2008 Aug 2001 Jan 2002 Jan 2002 Jan 2002 Jan 2002 (* Apr 2017) 50:50 JV with ETV branded Channels acquired from Eenadu group in January 2014. * Relaunched Other details Lokmat group These mature channels typically are in the top 3 in respective markets. with Himachal

Language Bangla Kannada Gujarati Oriya Malayalam Assamese Tamil

Assam Focus Markets West Bengal Gujarat Odisha Kerala Tamil Nadu North-East

Launch date Mar 2014 Mar 2014 Jun 2014 May 2015 June 2016 June 2016 June 2016

Launched over FY16 – Q1FY17, initially under ETV brand. Launched in FY17 directly under News18 brand. Other details In various stages of ramp-up and gaining revenue traction. In early stages of establishing themselves. 15 Regional News : Viewership share – Mature channels

Jai Maharashtra Zee Rajasthan Maharashtra, One, 0.3% Sahara Samay News, 14.6% 3.5% Rajasthan, Munsif Aalami 0.6% Saam TV, ABP TV, Samay, 12.7% Majha, 10.4% 11.6% 29.0% India News News18 News18 Rajasthan, 2.8% Lokmat, Urdu, 13.6% Zee 26.8% Salaam, News18 Zee 24 TV9 51.2% Rajasthan Taas, Marathi, , 82.0% 19.8% 21.1%

Maharashtra UrduBansal Rajasthan News, News18 3.1% Madhya Pradesh Chattisgarh, News State News18 Zee Madhya 17.0% UP/Uttarakh Sahara Bihar Pradesh and, 66.0% Samay UP Zee Bihar Jharkhand, Chhattisgarh, Uttarakha Jharkhand, 38.2% 35.7% nd, 1.5% 45.8% Swaraj IBC 24, TV 100, Express 35.6% 1.5% SMBC, 0.7% Kashish News18 Uttar Buland News Sahara India News Sahara Samay Bihar News, Pradesh Samachar Samay MP UP, 0.7% & Jharkhand, 4.0% 12.1% India News Uttarakhand, Plus, 6.0% & CG, 2.6% MP, 4.5% 21.2% Bihar/Jha. MP/Cha. UP/Uttara.

16 Regional News : Viewership share – Channels under ramp-up

BTV Dighvijay India News India News, 24x7 News, Haryana, News R Plus, 4.9% Punjabi, 14.5% 5.2% News18 Zee Haryana 2.9% 11.8% Kannada, VTV Gujarati, Himachal, 24 ABP News Time 8.8% 14.8% 20.1% Living India Ghanta, TV9 Asmita, Bangla, 3.6% News, 3.9% 22.4% Kannada, Praja TV, 18.4% Total TV, 33.8% 3.8% News18 0.8% Kolkata TV, 11.6% Gujarati MH One TV9 PTC , 11.7% News, Gujarati, News, News18 Public TV, Sandesh 21.3% ABP 30.2% 27.9% Bangla, 6.9% 23.0% News, Ananda, Suvarna News News18 18.0% 32.6% 24x7, 11.0% Punjab/Har ANM Suddi TV, Raj News yana/Hima News, 3.0% Kannada, chal, 10.6% 0.1% 2.9% Punj/Har/HP Bengal Karnataka Gujarat

News18 Zee Kalinga Thanthi Assam Talks, , 6.9% News, 7.6% Kalinga TV, People TV, DY 365, TV, 3.2% Tamil Nadu, 5.5% News18 6.2% 10.7% 16.2% 9.1% News 7 Kerala, 6.3% News18 Tamil, Pratidin Assam, Sun 12.2% Time, 5.3% News, Kanak Mathrubhumi 21.1% 9.6% Odisha TV, News, … News, 16.5% Asianet 41.3% News World News, Seithigal Odisha, 4.0% 46.2% , 4.5% Prag News Live News7, Manorama News, Sathiyam TV, Puthiya Polimer 23.2% News, 24.7% 12.7% 24x7, 4.7% 47.1% Thalaimurai News, 25.0% Raj News , 17.3% 24x7, 1.1% Oriya Malayalam Assamese Tamil

17 Infotainment: Factual Entertainment & Lifestyle

Key Demographics NCCS 15+ AB NCCS 15+ AB

Competition

HISTORY TV18 is #3 Factual Entertainment FYI TV18 is #3 Lifestyle Content And Action, Adventure, Thrill with a Layer of History Food, Relationship, Home are 3 pillars English, Hindi, Tamil ,Telugu English, Hindi, Tamil ,Telugu Languages

Launch Date HISTORY TV18 launched in 2011 FYI TV18 launched on 4th July’2016

AETN18 is a 51:49 JV between A+E Networks & TV18. Infotainment : Viewership share

 History TV18 is the #3 channel in its genre

 Fyi TV18 has risen to #3 within a year of its launch

FACTUAL ETERTAINMENT LIFESTYLE

NDTV Good Sony BBC Times, Earth +HD History TV 12.4% 9.3% Nat Geo 18 +HD FYI Wild +HD 16.9% TV18, 13.5% 26.6% National Discovery Geographi +HD TLC, c India Animal World 34.2% +HD Planet 23.7% Fox Life, 15.9% +HD 26.8% World 20.7%

19 Indiacast – Content Distribution and Syndication

Global Subscription Revenues Distribution 1 Domestic & Reach Device 2 agnostic Subscription & Advertising International Business Revenues Linear Assets 3

Diverse content 4

Subscription Revenues Sweat ipr 5 New Media

Maximize Revenue | Maximize Reach

Source :Indiacast Media Distribution Pvt Ltd 20 Hindi Mass Entertainment Channels

Key Demographics

Competition

Mix of Fiction, Reality and Movies. Free- To-Air Channel Flagship properties include Bigg Boss, Free- To-Air Channel Focused repeat programming from Programming Khatron ke Khiladi, Shakti, & on movies Colors Mahakali

Launched in July 2008 – Star Plus, Sony & Zee TV launched pre-1995. Launch Date Launched in 2012 Launched in 2016 Became the no. 1 Hindi GEC within few weeks of its launch

21 Hindi Mass Entertainment Channels : Viewership share

 Colors is now the #1 GEC amongst primary GECs (pay GECs, targeted at urban markets), but FTA channels lead in overall viewership share led by their pricing/distribution advantage  FTA offering Rishtey now has 7.3% share

 Rishtey Cineplex grabbed ~9.5% viewership share and is the #3 Hindi movie channel within 2 years of launch (leader has ~11%), despite a smaller movie library

HINDI GENERAL ENTERTAINMENT HINDI MOVIES Others, Zee 1.4% STAR Zee Utsav, Cinema Anmol Colors STAR +HD, 9.2% Cinema, +HD, Bharat 8.4% 7.5% 9.5% +HD, 12.0% Rishtey, Sony Others, MAX Zee TV 7.3% 37.4% Other +HD, +HD, 11.6% 9.5% GECs, Sony Pal, 65.7% Big Magic, 10.6% Sony Wah, Sony 9.9% 3.9% Zee +HD, SONY SAB STAR STAR Plus &TV + HD, Anmol, STAR 7.4% Gold 2.8% + HD, Rishtey Utsav +HD, 11.9% +HD, 6.5% Cineplex, Movies, 7.9% 8.3% BREAKUP OF OTHER GECs 9.5% 7.4% (~66% of the genre) 4 PREMIUM GECS (~34% of the genre) 22 Regional Entertainment

Overview

Language Bengali Marathi Kannada Kannada Gujarati Oriya Tamil

Penetration* – Regional Market 39 43 58 49 19 16 46 (in millions)

Overlap With Hindi Medium High Low Low Very High Low Low

Udaya Udaya TV, Comedy, SUN TV, Star Jalsha, Zee Marathi, Zee Tarang TV, Key Competitors Kasturi TV, DD Girnar Star Vijay, Zee Bangla Star Pravah Kannada, Sarthak TV Suvarna Zee Tamil Suvarna Plus

Number Of Key 5 4 7 7 1 3 3 Players

*Source: BARC| All India| NCCS 2+| All days, 24 hours| Avg. Monthly Reach - Individuals

23 Regional Entertainment – Viewership share

Others, DD Sahyadri, 3.5% 5.1%

STAR Pravah DD Udaya TV, Zee +HD, 19% Girnar, 17.3% Colors Kannada Marathi +HD, 33.9% +HD, 18.5% Star Suvarna, 47.6% 11.6% Colors Gujarati, Colors 81.5% Zee Kannada, 23.8% Colors Marathi Super, 9.9% +HD, 19.8% Zee Yuva, 8.6%

Karnataka Maharashtra Gujarat

Colors Others Oriya, Colors 7.0% 12% STAR Tamil Jalsha 5% Sarthak +HD, TV (ZEE), Others, 44.1% Sun TV Zee Tamil Tarang 48.6% 7.4% 44% 16% TV, Colors 44.4% Zee Bangla Bangla STAR Vijay +HD, +HD, 36.5% Super 8.0%Sony Aath, 1% STAR Vijay Sun Life 3.9% 19% 3% Odisha Bengal Tamil Nadu 24 *Source: BARC Q4 FY18| Tamil Nadu Share for Wk’13 Q4 FY18 Kids Genre

Key Demographics Audience : Kids Between 2-14, NCCS ABC Audience : Boys Between 10-14 And ‘Fun Unlimited’ ‘A channel for the action loving generation’ Positioning

Competition

Content Focus on ‘Comedy and Humor’ Focus on ‘Action and Adventure’ And English, Hindi, Tamil and Telugu English, Hindi, Marathi and Bengali Languages

Nick Launched in 1999 Launched in 2011 One of the Oldest Kids Offerings Launch Date Akshay Kumar - Brand Ambassador Nick Jr. launched in 2012

25 Kids Genre : Viewership share

 Viacom18 stable enjoys the #1 rank in the Kids genre with ~31% viewership across its channels  Nickelodeon is the #1 kids channel overall by a substantial margin  * In the sub-segment targeting 10-14 boys, Sonic is the #1 channel

Disney XD, Others, 6.1% 16.5%

Disney Channel , 14.3% Nick, 19.7% Hungama, 12.7%

Nick Jr, Pogo TV, 1.9% 10.2% Sonic, Cartoon 9.0% Network, 9.5%

26 *Source: BARC Q4 FY18 Youth & Music

Key Demographics Audience: CS 15- 21, NCCS All, HSM Audience: CS 15- 30, NCCS All, HSM And ‘Non-stop music ka one-stop channel’ Positioning

Competition

Focus on Music and Reality Shows like the iconic MTV Roadies, Splitsvilla Content Multi Platform Engagement with Youth – Television, Digital, Mobile, Live Events and Merchandise

Launched in 1996 Launch Date One of India’s most enduring, loved and Launched in 2017 rewarded Youth Brands*

27 *Source: Internal Company estimate basis various consumer studies Youth & Music : Viewership share

 MTV is an iconic youth brand, which also enables merchandising and other non-display revenue opportunities. MTV cafes have been setup in 3 cites (, , ) too  MTV Beats (24x7 Hindi Music) was launched last year, replacing MTV Indies (Independent artists’ music) on TV. MTV Indies is now a digital exclusive.

YOUTH MUSIC

Others, 9XM, Bindaas Zoom 19.3% 17.5% (Disney), (Times), 27.9% 25.9% MTV Beats +HD, 12.9% Mastiii, Zing 19.5% (ZEE), MTV India, 18.8% B4U 27.4% Sony Music, MIX, 16.0% 14.8%

28 *Source: BARC Q4 FY18 English Entertainment

Audience: CS 15-40, NCCS AB, Mega Cities Key Demographics (6 metros: Delhi, Mumbai, Kolkata, , Hyderabad, Chennai)

Competition

Content Internationally acclaimed International Music and Comedy 360O lineup that is Edgy, And Entertainment Own ‘Funny’ in India Contemporary & Gripping. Positioning Own ‘English Music’ in India ‘Your Happy Place’ ‘New Horizon for English Entertainment’

Launch Date Launched in 2005 Launched in 2011 Launched in 2015

29 English Entertainment : Viewership share

 Viacom18’s channels dominate the genre with ~60% combined market-share  VH1 is a genre leader, led by its mix of Music and Entertainment content  The genre is a niche, and is currently challenged by digital consumption

Others, 0.3%

Zee Café +HD, VH1 +HD 9.2% (Music+GEC), 18.6%

9XO, 10.3%

AXN +HD, 11.4% Comedy Central +HD, 24.9%

STAR World +HD, 9.3% Colors Infinity +HD, 16.1%

30 Motion Pictures

Viacom18 Motion Pictures

Competition

• Acquisition, production, syndication, marketing and distribution of full length feature films within India and distribution of Indian films in several international markets Business • It has a strategic alliance with Paramount Pictures to distribute and market its films in the Indian subcontinent

31 Digital Ventures

Viacom18 Digital Ventures

• Viacom18’s video on-demand platform “VOOT” launched in May’16 • Over 50,000 hours of content for audiences with varying choices and preferences, covering all Viacom18 Network content, Originals and some selective kids content from other networks too • Amongst the top Ad supported VOD apps in the country • >40mins viewership time per day per viewer on average

Voot boasts of the biggest bouquet of Kids Gripping, unique and binge worthy content - The most popular series and the most content, exclusively on Voot. Engaging popular characters of the likes of Motu Patlu, dramas, comedies, spoofs and Chhota Bheem, Pokemon, Kung Fu Panda, Dora, everything in between. and SpongeBob – all at one convenient location.

32 Integrated Network Solutions & Consumer Products

Integrated Network Solutions

LIVE provides creative ways of bringing together brands and modern consumers through unforgettable live experiences and original branded content. • VH1 Supersonic saw 60,000+ footfalls in 2018 • Pioneering experiential entertainment and building a Music & Entertainment ecosystem

Consumer Products

Viacom18 Consumer Products is a significant player in the ever growing consumer products space with its diverse portfolio. Through various associations, Viacom18 has cut beyond the conventional categories giving the consumers a slice of its brands such as MTV, Vh1, Nickelodeon, Comedy Central along with a growing portfolio of acquired third party brands.

33 HomeShop18 (TV and digital shopping)

 One of the largest home-shopping platforms in India  Losses have been slashed through restructuring and cost optimizations, even as the business remains under pressure.

LEGACY OF EXCELLENCE  Pioneered TV Home Shopping in India in 2008 through a 24 hour TV channel  Omni-channel sales through not just TV but also Internet and Mobile  Impressive portfolio of over 14 million SKUs  Logistical reach of over 3000 pin-codes

CHANGE IN STRATEGY  Macro/Regulatory issues, Competition from e-commerce had hurt TV-shopping sector  Demonetization hurt primary mode of payment for TV shopping, i.e. cash-on-delivery. Impact is now abating.  Issues of entry tax in certain states now ironed out due to GST implementation  Focus on only value-accretive categories to push towards break-even

The board of directors had approved a combination of HomeShop18 with another leading TV shopping platform ShopCJ to improve their standing in the competitive digital commerce space; which has been completed. Multiple synergies (sourcing, marketing, distribution) can be exploited as a result of this combination, which has created the de facto largest TV shopping platform in India. While HomeShop18 has ceased to be a subsidiary of Network18 from 15th February 2018 as a result, Network18 continues as the largest shareholder in the combined entity (Link to press release) BookMyShow (Online ticketing for movies and events)

 India’s leading entertainment ticketing platform, with movie bookings as the prime driver

MULTIPLE STRENGTHS  An average of over 103 million visits per month by end-FY18  Strong 18% growth in bookings in FY18 despite stiff competition which has dragged profitability  Widely acclaimed app and website, won the award for ‘Best Omni-channel Customer Experience Brand’ at the One Direct Quest Customer Experience (QuestCX) Awards

DIVERSIFIYING BUSINESS  Impetus into events(sports, live events, stand-up comedy, experiential tours, etc)  Forayed into content (movie database and ratings, video and radio-style audio content)  Entered management of cinema F&B through integrations with cinemas  Launched platform in Indonesia (full-fledged), UAE and Sri Lanka (cricket) DIGITAL – KEY PROPERTIES

All Digital properties except VOOT are part of Network18 group, and do not fall under TV18 group. Data as of Feb 2018

36 MoneyControl (Business and Finance portal)

 India’s leading, genre-defining finance portal with a record of excellence for over 16 years  On mobile, Users consume ~1.7x more pages and spend ~3x more time on Moneycontrol, compared to the competition  Budget day saw a historical high with a peak concurrency of 1.3 million users

FOCUSSING ON INNOVATION:  A lot of focus has been given on beefing the news offering of Moneycontrol, courtesy which we now generate 2x the articles as compared to PY  Mobile app won “best app for business” award at Mobile World Congress Shanghai 2017

UVs (mn) Yahoo India Finance M-Site Desktop

NDTV Profit

Financial Express

Livemint

Business-Standard

Economic Times

Moneycontrol 9.1 3.7

0.0 2.0 4.0 6.0 8.0 10.0 12.0 14.0 16.0 18.0 Source: Comscore data for Indian Audience - Feb 2018 News18.com (Digital News destination) – erstwhile IBNLive.com  Primary digital destination of the group for all news  Continued editorial focus augmented by improvements in product and technology has propelled the brand to the top 3 spot, within just 2 years of its launch  Budget day saw News18 garner a total of 5.2 million users on a single day

IMPETUS ON VERNACULAR AND HIGH-IMPACT CATEGORIES  Relaunched under umbrella brand News18 in FY17, and merged all languages under it.  News in 8 other languages apart from Hindi and English already available. Plans for more.  Sub-brand CricketNext is one of the top 3 Cricket properties  Sub-brand CompareIndia provides Tech product information, comparisons and reviews UVs (mn) Huffington Post

Hindu M-site Desktop Firstpost

Hindustan…

Indian Express

News18 39.9 5.9 NDTV

The Times of…

0.0 10.0 20.0 30.0 40.0 50.0 60.0 70.0 80.0 Source: Comscore data for Indian Audience - Feb 2018 Firstpost (Opinions portal)

 Provides diverse opinions on varied topics including politics, economy, sports and movies  Widely acknowledged, usually appears within top-3 searches on any contemporary topic

BROADENING ITS PORTFOLIO  Firstpost Hindi was launched to address the Hindi-speaking markets and expand reach  F. Studio – creates videos and content to cater to the millennials  Already includes sub-brand “fakingnews.com”  Launched entertainment portal- Showsha.com UVs (mn) Huffington Post

Hindu

16.6 M-site Desktop Firstpost 4.1 Hindustan Times Indian Express

News18

NDTV The Times of India Sites

0.0 10.0 20.0 30.0 40.0 50.0 60.0 70.0 80.0 Source: Comscore data for Indian Audience - Feb 2018 Vision and Strategy We aim to be a channel-agnostic provider of top-drawer content. Our strategy is to be present in all key market-segments where we believe profitable growth is possible in the medium-term. The vision is to consolidate our position as India’s top media house with unparalleled reach, and touch the lives of Indians across geographies and genres.

NEWS . National : Grow flagships ahead of market and maintain leadership positions . Regional : Drive bouquet (6 old + 8 new channels) profitability through viewership . Create non-display properties (events, awards, etc) which can drive outperformance

ENTERTAINMENT . Monetize premium positioning and viewership traction of flagship channels . Enter into more regional markets and incubate segmented offerings . Create alternate revenue streams (OTT, Experiential, Gaming, Merchandise)

DIGITAL CONTENT . Emerge as the top digital cluster in the country, and leverage network synergies . Extend brands into segments which have a coherence with existing content . Drive engagement through marrying vernacular content with digital delivery

40 Disclaimer This presentation is issued by Network 18 Media & Investments Limited (the “Company”) for general information purposes only and does not constitute a solicitation or offer or invitation to sell or issue any securities of the Company, nor shall it be relied on in connection with any contract. This presentation may include statements which may constitute forward-looking statements such as statements about the strategy for growth, business development, market position, expenditures, and financial results. However, it should not be relied upon as a recommendation or forecast by the Company. Please note that the past performance of the Company should not be considered as indicative of future results. The actual results or performance of the Company could differ materially from those projected in any such forward- looking statements. The Company does not undertake to revise any forward-looking statement made by or on behalf of the Company. None of the Company, its Directors, Promoter or affiliates or any of their respective employees, advisers or representatives accepts any responsibility or liability whatsoever, arising in tort, contract or otherwise, for any errors, omissions or inaccuracies in such information or for any loss or damage suffered, directly or indirectly, from use of this document or its contents and makes no representation or warranty, express or implied, for the contents hereof including its accuracy, fairness or completeness . Any opinions or information expressed in this presentation are subject to change without notice.

41 Thank You

For Further information on business and operations please write to [email protected]

42