CTC Me dia, Inc. Investor Presentation

June 2012 From Private TV Network to Public Media Holding

ƒAcquisition of the Launch of CTC- ƒ ƒLaunch of CTC- DTV group international in international in Israel ƒAcquisition of Kazakhstan, Kyrgyzstan, Channel 31 in Establishment of ƒ Armenia, Georgia Kazakhstan CTC Media’s ildiiinternal advertising ƒUplink of СTC- ƒCTC Media enters sales house international to the ƒCTC Media was ƒLaunch of CTC ƒLaunch of Moldova free-to-air TV ‘Everest Sales’ HOT BIRD satellite founded as StoryFirst Network Domashny Network market (Europe, Middle Communications Launch of ƒ East, North Africa ƒAcquisition of ‘Videomore’ online and Central Asia) Costafilm and Soho social television Media production network companies

1989 1994 1996 2002 2005 2006 2008 2009 2010 2011 2012

ƒLaunch of CTC- international in Germany and the Baltics

ƒTelcrest Investments ƒLaunch of CTC- ƒTV broadcasting ƒModern Times Group ƒInitial Public Offering Limited acquired a 25% international in in Russia began became a shareholder on NASDAQ stake in СTС Media from USA of CTC Media Alfa Group

ƒCostafilm and Soho Media united into Story First Production

ƒDTV is rebranded to Peretz

1 We Fully Capture the Value Chain by Being a Vertically Integrated TV Broadcaster

CTC – target audience All 6-54 Domashny – target audience Females 25-59

FREE-TO-AIR ( RUSSIA) Peretz* – target audience All 25-59

Kazakhstan Channel 31 FREE-TO-AIR ( CIS) Moldova СTС/TV Dixi channel

CONTENT PRODUCTION Story First Production

AD-SALES Internal advertising sales house Everest

CTC-INTERNATIONAL (PAY-TV) International version of CTC channel

Various digital projects NEW MEDIA Social TV Network Videomore.ru Women’s portal Domashniy.ru

Note: (*) DTV Network operates under Peretz brand name & logo starting from October 2011

2 We Operate in Attractive Markets

Baltic States Germany Russia Russian-speaking population = 4 million Russian-speaking population = 6 million Population = 142 million 2011 TV Ad Market = US$ 4.4 billion*

Kazakhstan Population = 16.3 million 2011 TV Ad Market = US$ 120 million* Russian-speaking population = 12 .3 million

Kyrgyzstan Moldova Russian-speaking population = 2.5 million Population = 3 .6 million 2011 TV Ad Market = US$ 16.6 million*

Israel Russian-speaking population = 1.5 million

USA Russian-speaking population = 3.5 million

Since February 2012 CTC-International is available on the HOT BIRDTM 8 satellite (W/E Europe, North Africa, Middle East and Central Asia coverage)

Sources: Video International , Russian Association of CommuniCommunicationscations Agencies , ZenithOptimedia , CIA World Factbook , Rosstat , R usskiy Mir Foundation Note: (*) All TV Ad Markets figures are net of VAT

3 We Are the Largest Independent Broadcaster in Russia

Combined audience shares, % (all 6-54 demographic)

Q1 20112011 22.3 22.4 Q1 2012

16.1 16. 66 15.1 15.4 14.2 12.9

939.3

6.9

4.5 4.4 4.4 3.1

Gazprom-Media СTС Media VGTRK (Rossiya) Channel One National Media Group Prof-Media UTV Russia Holding

SSGSource: TNS Gallup Media

4 Russian Ad Market Has Significant Potential for Further Development…

Russian TV ad market was #9 in the world Free-to-air TV ad market growth 1 and #5 in Europe in 20111… 58.8

19.2 10.2 8.9

11.4 7.0 10.2 5.8 5.8 4.7 4.4 5.4 4.5 4.4 3.3 3.6 $ bln $ bln 3.0 US US 1.4

USA Japan China Brazil Italy Germany France Russia 2004 2008 2009 2010 2011

TV Ad Market Total Ad Market …and is expected to become # 5 in the world Total Russian ad market forecast2 and #1 in Europe in 20141 65.5

642 20.4 16.2 13.7 439 5.9 5.8 4.9 4.7 219 B bln S $ bln UU UU R

USA Japan China Brazil Russia Germany Italy France 2010 2015F 2020F Note: All TV Ad Markets figures are net of VAT Sources: (1) Zenith Optimedia, Company’s estimates (2) Video International

5 …Due to Relatively Low Ad Spend as % of GDP and Underleveraged Consumer

Ad spend as % of GDP ¹ Retail and mortgage loans as % of GDP2

1.8 1.7 8%

1.4 8% 1.4 1.2 14% 1.1 1.0 5% 1.0 0.9 0.9 9% 15% 0.9 0.8 0.8 0.8 0.7 0.7 0.7 37% 13% 060.6 060.6 0.6 30% 0.5 0.5 12% 21% 19% 15% 21% 7% 12% 14% 9% 6% 3% UK any land ania gary enia stria land atvia Rep rage USA tonia gium raine garia ussia ussia uania lgaria oo ll vv nn ll mm uu oo hh LL ee mm ss kk RR P R A P E U Be Bu Bu Hu Slo Ro Lith Ger Czec CEE Av 2008 2011 Household loans excl mortgages, % of GDP Mortgage loans, % of GDP

Sources: (1) ZenithOptimedia, Company’s estimates (2) Eurostat , National Central Banks, 2011

6 TV Is the Most Attractive Advertising Medium in Russia

H1 2011 Cost per Thousand in Russia (US$)² „ TV is the only medium with truly national reach

„ Important social and cultural platform TV 2.1 „ More free-to-air networks than in other countries Radio 3.0 „ High quality free-to-air content offering Internet 5.0

Newspapers 565.6 Ad spend in Russia by media segment1 (%)

50% 49% Magazines 6.1 43% H1 2011 TV Cost per Thousand (US$)²

31% Russia 2.1

19% 18% Asia 8.0 16% 15% 14% 13% 11% Western Europe 9.0 6% 4%4% 2%3% 1% 04%0.4% Eastern Europe 11. 0

TV Internet Press Outdoor Radio Other North America 17.0 2004 2011 2015F

Sources: (1) Russian Association of Communication Agencies, Video International (2) I niti a tive Me dia

7 Internet Consumption Is Growing…

2011: Russia is #1 in Europe by number of Internet users Iftidli(hd)Increase of time spend online (hours per day)

50.8 50.1 3.1 2.9 42.3 2.7 37. 2 242.4 2.3 2.1 1.7 23.7

0.9 0.5 0.7

Russia Germany France UK Italy China Russia Brazil India USA Japan

Internet users, mln 2009 2015F

2011: Internet Ad market growth in Russia (USD, mln) Broadband penetration by country, 2010 (Russia 2011, 2020F)

1,419 96%

79% 70% 70% 69% 686 49% 46% 511 40% 37% 369 370

2007 2008 2009 2010 2011 South Canada USA UK Russia Hungary Czech Turkey Russia Korea 2020F Rep 2011

Sources: ComScore, Boston Consulting Group, Zenith Optimedia, AKAR, Mindshare Interaction

8 …but Not at the Expense of TV Usage

Average linear TV viewership globally is increasing

196 192 190 186 187 188 183 184 185 per day per ss Minute

2003 2004 2005 2006 2007 2008 2009 2010 2011

Europe Russia

248

227 228 222 235 inutes per day inutes per nutes per day nutes per ii MM M

2009 2010 2011 Q1 2011 Q1 2012

Source: Eurodata TV Worldwide

9 We Continue to Deliver Strong Top and BottomBottom--lineline Growth…

766 730 680 280

247 45% 574 250 220 532 41% 221 39% 38% 211 38% 41% 200 37% 427 174 35% 32% 32% 150 273 104 100 181 71 26% 26% 27% 25%

50 22% 21% 21% 16% 20% US $ bln US $ bln 0 15% 2004 2005 2006 2007 2008 2009 2010 2011 20042005200620072008200920102011** ** **

(Comparable-basis) total operating revenues*** OIBDA* OIBDA margin*, % Peers average OIBDA margin****,%

Notes: (*) OIBDA is defined as operating income before depreciation and amortization (exclusive of amortization of programming and sublicensing rights. OIBDA margin is defined as OIBDA divided by total operating revenues. Both OIBDA and OIBDA margin are non-GAAP financial measures (see reconciliations on page 38) (**) 2008 OIBDA and OIBDA margin are adjusted to exclude a $232.7 million charge arising from the impairment of the intangible assets of DTV Group in Russia, Channel 31 in Kazakhstan and a broadcasting group in Moldova; 2009 OIBDA and OIBDA margin are adjusted to exclude an $18.7 million charge arising from the impairment of the broadcasting licenses in Russia and a $28.6 million stock-based compensation expense recognized in conjunction with the previously announced settlement, DTV brand name by CTC Media of litigation brought by it against its former CEO, 2011 OIBDA and OIBDA margin are adjusted to exclude a $106.4 million charge arising from the impairment of several regional broadcasting licenses and the Peretz Network goodwill; (see reconciliations on page 36-37) (***) Comparable-basis operating revenues are non-GAAP financial measures provided in order to facilitate period-to-period comparisons of CTC Media’s results following the implementation of the new model of advertising sales starting from 2011 (see reconciliations on page 38) (()****) Following companies are included in European peers average OIBDA margin calculations: CME, TVN, S. A. Modern Times Group, Antena3, ITV plc, Metropole Television, Mediaset, ProSiebenSat, Mediaset Espana, TF1

10 …and to Diversify Our Lines of Business

2004 Q1 2012

Sublicensing 5%

13% 9% CIS 70% 2%

New Media Russian FTA Russian FTA 0.2% Broadcasting Broadcasting 100% 92% CTC- International 04%0.4%

11 We Have Clear Strategic Priorities

Content Broadcasting New Media

• Build library Stabilize audience share Distribution platforms: • Develop in-house production Improve audience profile • Enhance existing platforms • Invest in ideas development • Increase production volumes female portal • Create strong brands Grow audience and market shares comedy portal • Develop distribution Grow audience and market collaboration (VK, Youtube) Ut20%Up to 20% shares • Be available on all screens Expand to markets with of CTC Media channels’ Diversification: programming grid Russian-speaking • iVas on existing platforms (from ~ 10% in 2011) audiences • Games • Transmedia branded entertainment content

Content is king…. Distribution platform is queen

12 We Focus on Developing and Creating Local Content

Long-term relationships with Discover new third large independent producers party partners In-house production

Amedia Karo Production

YBW

Good Story Media / Lean-M Sputnik Vostok Production

Stable and predictable pricing ƒ Securing all rights to the own content Diversification of content suppliers Right of first look for new products ƒ Full control over production costs & processes Discovering new creative talents & ideas Proven track record ƒ ~ 60 projects currently under development

13 More Original Ideas Are Generated by Our Enhanced Internal Creative Team

Totally 60 titles in development

Titles in full scale production – 12

53 titles have been Pilots in production – 10 presented to channels Pilots to be confirmed – 3

Titles under development – 28 7titl7 titles und er i niti itilal development

During 2008-2010 Costafilm produced 8 titles and 4 pilots, Soho Media – 9 titles

14 CTC Improves Its Audience Profile in the Most Commercially Attractive Demographic

25% 76% of advertisers ’ budgets 22%

19% ■ 76% of total ad spending is concentrated 20% in 14-44 audience 17% 15% ■ 58% is a share of 14-44 audience in CTC channel total viewership in Q1 2012, up 15% 14% 15% 13% from 51% in Q1 2008 12% 12% 10% 10% 10% ■ We continue working on improving 10% 9% demographic profile of CTC’s audience to 7% 8% better match advertiser demand 9% 7% 7% 7% 8% 8% 7% 7% 7% 7% 7% 5% 5% 7% 5% 4% 2% 3% Advertisers' demand FY 2010 CTC audience demographic profile Q1 2012 CTC audience demographic profile Q1 2008 0% 0% 4-14 133 14-114 199 2200-2424 2255-2299 30-3344 35-39 4400-4444 4455-4499 50-5544 55-65 66+

Sources: TNS Gallup Media, Video International

15 Domashny and Peretz Are Benefiting from Fragmentation of Russian TV Market

Audience shares, all 6-54 demographic Channels’ target demographics, %

3.9

3.2 60% 2.6 2.0

50% Top 3 state-controlled channels FY 2011 Q1 2012 FY 2011 Q1 2012

40%

30% 1st tier channels

nd 20% 2 tier channels

10% 2004 2005 2006 2007 2008 2009 2010 2011 Q1 2012

Notes: top 3 state-controlled channels: Channel One, Rossiya 1, NTV; 1st tier channels: CTC, TNT, Ren-TV; 2nd tier channels: TV-3, Domashny, Peretz, Rossiya K, Channel 5, Rossiya 2, Euronews, Zvezda, MTV, Rossiya 24, Muz TV, 2x2, TV Center, 7TV

16 Positive Audience Share Momentum in 2012

12.0 11.7 12.1 11.2 11.1 11.2 10.6 11.0 9.9 10.2 3.7 2.6 313.1 3.3 3.3 2.8 2.0 2.1 2.0 2.0

Q1'11 Q2'11 Q3'11 Q4'11 Q1'12 Q1'11 Q2'11 Q3'11 Q4'11 Q1'12 Q1'11 Q2'11 Q3'11 Q4'11 Q1'12 All 14-44 All 6-54 W 25-59 All 25-59

Boarding School – 3 (on air since 26.03.12) Painfully Funny 3 Average share 1 11.5% (12.0% in All 14-44) Average share – 4.0% Maximum share 13.6% (13.7% in All 14-44) Maximum share – 8.4%

Doctor Zaytseva’s Diary (16.01-22.02.12) It’s a Shame to Show! Average share 15.3% (18.6% in All 14-44) Average share – 3.7% Maximum share 17.4% (21.2% in All 14-44) Maximum share – 4.9%

The 80’s (30.01-15.02.12) KVN. Standup comedy game show Average share – 2.6% Average share 16.9% (20.7% in All 14-44) Maximum share 20.1% (23.8% in All 14-44) Maximum share – 4.7%

Detka (20.02-27.03.12) Mad Video 2 Average share – 9.4% Average share – 3.0% Average share 13.1% (14.9% in All 14-44) Maximum share – 13.8% Maximum share 15.5% (18.1% in All 14-44) Maximum share – 5.4%

Note:(2) in Domashny target demographic All 25-59 Note:(3) in Peretz target demographic All 25-59 Note:(1) in CTC target demographic All 6-54

17 We Continue to Increase Our Technical Penetration

Technical Penetration1, %

■ We continue to improve the signal 95% 91% 94% 87% 88% distribution through regional stations 85% 82% 80% 76% acquisitions and expanding our affiliate 71% 73%68% 65% netktwork 61% 54%

■ 50% of technical penetration is provided by CTC Media’s owned-and-operated stations and repeater transmitters 2007 2008 2009 2010 2011 2007 2008 2009 2010 2011 2007 2008 2009 2010 2011

Note: (1) Technical penetration means the percentage of the population that has the technical ability to receive a particular broadcast signal. Measured annually by TNS Gallup Media in cities with populations of more than 100,000

18 Stable Consumer Goods Client Base with Both Large MultiMulti--NationalNational and Local Advertisers

Ad spending on CTC Media’s channels by category

* 1Q 2011 1Q 2012 ■ Vast majority of CTC Media’s advertisers are basic consumer goods focused 1 Food and beverages 23% 27% 2 Other goods 16% 17% 3 Cosmetics and personal care products 20% 16% ■ CTC Media’s advertisers’ budgets split: 4 Pharmaceuticals and vitamins 14% 15% 5 Telecoms 6% 6% ƒ 80% multinationals, 20% local companies 6 DtDetergen ts 3% 4% 7Auto 2% 4% ■ Ad revenue concentration is declining: 8 Appliances 5% 3% 9 Retail 5% 3% ƒ 38% of budgets came from top 10 clients vs 10 Beer 6% 3% 42% in Q1 2011 11 Finance 1% 2% ■ Growth from auto and finance categories in Q1 2012

Notes: (*) National advertising sales for CTC, Domashny and Peretz Networks

19 Our Evolving Business Model…

Advertising sales structure since 2011

Advertisers

Advertising Agencies

Internal Sales Houses: External Sales Houses:

Everest Sales RTR-Media Gazprom-Media / Alkasar

Consultancy services

20 …Enables Us to Capture Further Opportunities

More control over the sales process

Mastering Lower cost of internal expertise sales as % of in direct sales revenues

Bundling sales Individual with additional approach to options, each client and ildiincluding non- custidtomized FTA offerings

Working directly with advertisers and media agencies

21 We Are Strengthening Our Market Positions in the CIS

31 Channel, Kazakhstan (all 6-54 demographics)

14.8 14.5 Significant growth in CIS Segment revenue and OIBDA margin 10.5

17.8 share, % share, rget audience rget audience aa T 12.6 11.0 20.2% Q1 2010 Q1 2011 Q1 2012 4.3%

nn -20.2% CTC/TV DIXI, Moldova (urban 6-54 demographics) US$ ml 5.5 ce ce 4.1 FY 2009 FY 2010 FY 2011 2.8 Revenue OIBDA margin share, % share, Target audien

Q1 2010 Q1 2011 Q1 2012

22 Plus We Continue to Expand Internationally…

Increasing CTC Media’s international brand awareness & value through CTC-international

December 2009 – Dish USA May 2011 – Time Warner; RMG 3.5 mln October 2011 – Cablevision

Israel June 2011 – Hot; Yes 1.5 mln tion

Germany March 2011 – Kartina TV IPTV aa 6 mln

Baltic October 2011 – Viasat Broadcasting 4 mln States ing popul kk Kazakhstan February 2012 – Digital TV; Icon TV 12.3 mln

Europe

North Africa TM ian-spea s February 2012 – uplink service HOT BIRD s Middle E ast Central Asia Rus

Kyrgyzstan April 2012 – Europe-Asia cable and satellite network 2.5 mln

Armenia Georgia May 2012 – Caucasus cable networks 10.4 mln Azerbaijan

Total Russian-speaking population 40.2 mln

23 …and Enter New Platforms to Be Wherever Our Viewers Are

Videomore Domashny portal Channels’ websites

Web + Partnership with social networks

Smart TV & IPTV

Mobile platforms

24 …on the Way to Become a Leading New Media Player among Russian TV Companies

ƒ # 2 legal video portal in Russia by audience ƒ In TOP-10 Russian most visited women portals

up ƒ 7 mln unique monthly visitors* 180% ƒ 1.5 mln unique monthly visitors* y-o-y ƒ More than 11,000 units of content ƒ Highest affinity in female 25-44 audience 150% vs (among TOP-10 women portals) 107% ƒ Registered users spend 40 min on VideoMore daily ƒ Unique niche focused on traditional family values

ƒ Combination of video content streaming & ƒ Competitive advantage due to video content social network functionality library and production capabilities

Plus over a million unique monthly visitors on our other New Media platforms

Note: (*) Videomore average monthly unique visitors in Q1 2012; Domashniy portal average monthly unique visitors in March 2012

25 Q1 2011 Financial Highlights

9pp +19% above +38% +4.7pp in Rub market REVENUES OIBDA OIBDA MARGIN $191. 1 mln $55.1 mln 28.8%

CASH INVESTMENTS EPS NET CASH POSITION IN CONTENT $0.21 $111.0 mln $85. 2 mln +50% +10%

EXPECTED DIVIDEND DIVIDEND PAID IN Q1 PAYOUT IN 2012 $0.13 per share 52% of 2011 net income

Investing in quality content and returning excess cash to shareholders

26 To Conclude…

The largest independent and the only publicly listed broadcaster in Russia

Growth company offering unique play on growing Russian & CIS TV advertising markets

Targeting audiences which are most attractive to advertisers

Controlling the whole value chain by vertically integrating content production, distribution and advertising sales

High margins by industry standards & strong cash flow generation

Commitment to returning surplus cash to shareholders

27 Q1 2012 Balance Sheet and Cash Flow Highlights

Consolidated Balance Sheet Highlights Consolidated Cash Flow Highlights

Three months Three months As of December 31, As of March 31, ended ended 2011 2012 (US$ mln) (US$ mln) March 31, March 31, 2011 2012 (US$ mln) Cash and cash equivalents equivalents 12.3 30.7 Cash at beginning of period 59. 6 12. 3 Short-term investments 117.2 98.8 Net cash provided by operating activities 12.3 8.9 Total assets 893.1 983.6 including acquisition of progr. and sublic. rights (77.4) (85.2) Net cash used in investing activities 26.8 23.3 including goodwill 164.4 180.4 including acquisition of busineses (7.7) - including broadcasting licenses licenses 159.4 174.1 including CapEx (4.0) (3.0) including programming rights 92.1 94.8 including receipts from/(investments in) deposits (38.6) (26.3) Working capital1 197.1 246.8 Net cash used in financing activities (21.4) (15.8) Total debt (Bank overdraft) 16.9 18.5 Cash at end of period 81.5 30.7 Stockh old ers’’ equity it 697.2 785.7 CapEx (4.0) (3.0) CapEx as % of total revenue 2.4% 1.6% Net cash position2 112.6 111.0 Free cash flow3 8.2 5.8

Notes: (1) Working capital = current assets - current liabilities (2) Net cash position = cash and cash equivalents + short-term investments - total debt (3) Free cash flow = cash flow from operating activities - acquisitions of property and equipment and intangible assets

28 FY 2011 Income Statement Highlights

Twelve Months Twelve Months Ended December 31, Ended December 31, Change 2010 2011 comparable- comparable- as as (US$ 000’s except per share data) as reported basis, non- basis, non- reported reported GAAP GAAP

Total operating revenues $601,285 $680,418 $766,360 27% 13% Total operating expenses (before non- (394,167) (473,300) (537,293) 36% 14% recurring items) Total oppgperating expenses ((,)394,167) ((,)473,300) ((,)643,675) 63% 36% Adjusted OIBDA 220,854 220,854 246,715 12% 12% Adjusted OIBDA margin 36.7% 32.5% 32.2% OIBDA 220,854 220,854 140,334 -36% -36% OIBDA margin 36.7% 32.5% 18.3% Adjusted net income attributable to CTC 145,731 145,731 152,561 5% 5% Media, Inc. stockholders Adjusted diluted earnings per share $0.93 $0.93 $0.97 4% 4% Net income attributable to CTC Media, Inc. 145,731 145,731 53,118 -64% -64% stockholders Diluted earnings per share $0.93 $0.93 $0.34 -63% -63%

29 FY 2011 Balance Sheet and Cash Flow Highlights

Consolidated Balance Sheet Highlights Consolidated Cash Flow Highlights

Twelve months Twelve months As of December 31, As of December 31, ended ended December 2010 2011 December 31, 31, 2011 (US$ mln) (US$ mln) 2010 (US$ mln) Cash at beginning of period 84.4 59.6 ChCash an d cas hh equ iltivalents 59. 6 12. 3 Net cash provided by operating activities 185.6 115.8 Short-term investments 117.5 117.2 including acquisition of progr. and sublic. rights (250.5) (358.6) Total assets 997.7 893.1 Net cash used in investing activities (130.5) (54.6) including goodwill 244.8 164.4 including acquisition of busineses (23.8) (25.0) ildibincluding broa ddcas tiliting licenses 163. 8 159. 4 including CapEx (29.9) (19.8) including programming rights 170.7 199.1 Net cash used in financing activities (79.8) (115.0) Working capital 1 218.9 197.1 Cash at end of period 59.6 12.3 Total debt - 17.0 Stoc kho lders ’’ equ itity 794. 6 697. 2 CECapEx (29.9) (19.8) CapEx as % of total revenue 4.4% 2.6%

3 Net cash position 2 177.0 112.6 Free cash flow 155.6 96.0

Notes: (1) Working capital = current assets - current liabilities (2) Net cash position = cash and cash equivalents + short-term investments - total debt (3) Free cash flow = cash flow from operating activities - acquisitions of property and equipment and intangible assets

30 Appendix

Voroniny – sitcom, CTC Network (Everyyybody loves Ra ymond format ) Doctor Zayyytseva’s Diary – sitcom,,(y) CTC Network (Doctor’s Diary format)

31 Audience Shares In “All 1414--44”44” Most Commercially Attractive Demographic

Audience shares1, %

15.7 15.8 15.5

13.1 12.9

12.1 12.0 12.1 11.6 11.4 10.9 Q1 2011

9.5 Q1 2012

5.1 4.8

353.5 2.8 2.5 2.5 2.3 2.2 2.1 2.1 2.2 1.9 1.8 1.9 1.8 1.7 1.5 1.4 1.3 1.2 1.2 1.2 1.2 1.1 1.0 0.8 0.9 0.8

0.1 0.1

TNT Channel One CTC NTV Ri1Rossiya 1 Ren-TV Channel 5 5 PtPeretz TV-3 Disney* DhDomashny Ri2Rossiya 2 TV C ent ter Muz-TV ZdZvezda 222x2 MTV Ri24Rossiya 24 RiKRossiya K Euronews Other

(1) Source: TNS Gallup Media, CTC Media’s Research Department (2) Includes audience shares of regional and non-FTA channels (*) Operated under Semerka brand brand before 31 December , 2011

32 Audience Shares In “All 66--5454 Demographic”

Audience shares1, %

15.9 15.8 15.4

12.9 12.5 5 12.6 6 11.9 11.2 11.0 Q1 2011 10.5 10.4 9.8 Q1 2012

5.3 4.7 4.1

3.2 2.6 2.5 2.5 2.6 2.2 2.4 2.2 1.9 2.0 1.9 2.1 1.6 1.5 1.6 1.5 1.2 1.2 1.1 1.1 0.8 1.0 0.9 0.9 0.8 0.1 0.1

Channel One One NTV CTC TNT Rossiya 1 1 Ren-TV Channel 5 5 Disney* Peretz TV-3 Domashny TV Center Rossiya 2 2 Zvezda Muz-TV 2x2 Rossiya K K MTV Rossiya 24 24 Euronews Other

(1) Source: TNS Gallup Media, CTC Media’s Research Department (2) Includes audience shares of regional and non-FTA channels (*) O perated under S emerka brand bef ore 31 December, 2011

33 Operating Expenses

as % of total operating expenses as % of total operating revenues

3% 4% 5% 2% 8% 8% 2% 3% Depreciation & amortization 4% 30% 2% 29% 6% 6% Stock-based compensarion 23% Direct operating expenses 22%

SG&A expenses 55% 56% Amortization of programming & sublicensing rights and own 43% 41% production cost

Q1 2011 Q1 2012 Q1 2011 Q1 2012

$141.5 mln $129.6 mln $141.5 mln $129.6 mln

34 Reconciliation of NonNon--GAAPGAAP Measures

Reconciliation of consolidated adjusted OIBDA and other adjusted financial measures to consolidated OIBDA and other corresponding GAAP financial measures

Income before income tax Fully TlTotal and dilute d operating Operating noncontrolling Income tax Net earnings (US$ 000’s except per share data) OIBDA expenses income interest expense income per share

Three Months Ended December 31, 2011

Adjusted non-US GAAP results $ 92,757 $ (148,725) $ 88,033 $ 93,830 $ (28,604) $ 61,434 $ 0.39

Impact of impairment loss (89,539) (89,539) (89,539) (89,539) 3,570 (85,969) (0.55) Results as reported (under US GAAP, except for OIBDA which is a non-GAAP financial measure) $ 3,218 $ (238,264) $ (1,506) $ 4,291 $ (25,034) $ (24,535) $ (0.16)

Income before Fully Total income tax and diluted operating Operating noncontrolling Income tax Net earnings (US$ 000’s except per share data) OIBDA expenses income interest expense income per share

Twelve Months Ended December 31, 2011

Adjusted non-US GAAP results $246,716 $ (537,293) $ 229,067 $ 243,301 $ (83,342) $ 152,561 $ 0.97

Impact of impairment loss (106,382) (106,382) (106,382) (106,382) 6,939 (99,443) (0.63) Results as reported (under US GAAP, except for OIBDA which is a non-US GAAP financial measure) $140,334 $ (643,675) $ 122,685 $ 136,919 $ (76,403) $ 53,118 $ 0.34

35 Reconciliation of NonNon--GAAPGAAP Measures

Reconciliation of consolidated adjusted OIBDA and other adjusted financial measures to consolidated OIBDA and other corresponding GAAP financial measures

Total EPS Operating Operating Net Income Income Tax (fully (US$ 000’s except per share data) OIBDA Expenses income Before Tax Expense Net Income diluted)

Year ended December 31, 2008

Adjusted non-US GAAP results $ 280,241 $ (373,307) $ 266,864 $ 237,077 $ (50,205) $ 176,133 $ 1.11

Impact of non-cash impairment of intangible assetfDTVKdMldts of DTV, Kz and Moldova (232, 683) (232, 683) (232, 683) (232, 683) 30,331 (153, 679) (0.97)

Results as reported (under US GAAP, except for OIBDA) $ 47,558 $ (605,990) $ 34,181 $ 4,394 $ (19,874) $ 22,454 $ 0.14

Income Net income Fully Total before Income Non- attributable to diluted operating Operating income tax tax controlling CTC Media, Inc. earnings (US$ 000’s except per share data) OIBDA expenses income and non- expense interest stockholders per share

Year ended December 31, 2009

Adjusted non-US GAAP results $ 211,256 $ (306,311) $ 199,802 $ 195,972 $ (49,374) $ (2,630) $ 143,968 $ 0.91

Impact of non-cash intangible asset impairment charge (18,739) (18,739) (18,739) (18,739) 3,748 - (14,991) (0.10) Impact of Stock - based compensation expense related to settlement of litigation against former executive (28,588) (28,588) (28,588) (28,588) - - (28,588) (0.18)

Results as reported (under US GAAP, except for OIBDA, which is a non-GAAP financial measure) $ 163,929 $ (353,638) $ 152,475 $ 148,645 $ (45,626) $ (2,630) $ 100,389 $ 0.64

36 Reconciliation of NonNon--GAAPGAAP Measures (continued)

Reconciliation of consolidated OIBDA to consolidated operating income USD mln Q1 2012 Q1 2011 FY 2011 FY 2010 FY 2009 FY 2008 FY 2007 FY 2006 FY 2005 FY 2004 Operating income 49,971 35,928 122,685 207,118 152,475 34,181 193,061 154,313 90,187 62,559 Add: depreciation and 5,157 3,936 17,649 13,736 11,454 13,379 27,361 19,651 13,920 7,962 amortization

OIBDA 55,128 39,864 140,334 220,854 163,929 47,560 220,422 173,964 104,107 70,521

Reconciliation of consolidated OIBDA margin to consolidated operating income margin USD mln Q1 2012 Q1 2011 FY 2011 FY 2010 FY 2009 FY 2008 FY 2007 FY 2006 FY 2005 FY 2004 Operating margin 26.1% 21.7% 16.0% 34.4% 30.1% 5.3% 40.9% 41.6% 38.0% 40.2% Add: depreciation and amortization as 2.7% 2.4% 2.3% 2.3% 2.3% 2.1% 5.8% 5.3% 5.8% 5.1% percentage of of revenue revenue

OIBDA margin 28.8% 24.1% 18.3% 36.7% 32.4% 7.4% 46.7% 46.9% 43.8% 45.3%

Reconciliation of comparable-basis, non-GAAP total operating revenues to total operating revenues USD mln 2004 2005 2006 2007 2008 2009 2010 Comparable-basis total operating 180,639 273,352 427,091 532,143 729,629 574,107 680,418 revenues Agency commission fees payable to Video I nt ernati onal i n connecti tion with Russian advertising sales (25,072) (35,875) (56,257) (60,087) (89,458) (67,994) (79,133) (excluding commissions for regional advertising sales to local clients) Total o ppgerating revenues 155,567 237,477 370,834 472,056 640,171 506,113 601,285

37 Contact Information and Disclaimer

For further information please visit www.ctcmedia.ru or contact:

Ekaterina Ostrova Irina Klimova Director, Investor Relations Investor Relations Manager E-mail: [email protected] Tel: +7 (495) 783 3650 Tel: +7 (()495) 981 0740

DISCLAIMER „ The information contained in this presentation, including market data that are attributed to specific sources and have not been independently verified. No representation, warranty or undertaking, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or the opinions contained herein. None of the Company or any of its affiliates, advisors or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection with the presentation.

„ The presentation is not an offer of securities for sale in the United States. Neither the presentation nor any copy of it may be taken or transmitted into or distributed in the United States of America or to any U.S. person within the meaning of Regulation S under the United States Securities Act of 1933, as amended (the “Securities Act”).

„ This presentation is not a public offer or advertisement of securities in the Russian Federation, and is not an offer, or an invitation to make offers, to purchase any securities in the Russian Federation.

„ Certain statements in this presentation that are not based on historical information are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, among others, statement regarding Russian advertising market growth; statements regarding share trends in changing audience in 2012; statement regarding Russian Internet consumption growth; developments in the volume and pricing of television advertising in the Company’s target markets; the Company’s anticipated advertising sellout; the Company’s anticipated operating expenses and capital expenditures and others. These statements reflect the Company's current expectations concerning future results and events. These forward-looking statements involve known and unknown risks, uncertititainties and other ftfactors whic h may cause theactltual results, performance or achievemen tsof CTC MdiMedia to bematillterially different from any ftfuture results, performance or achievements expressed or implied by such forward-looking statements. The potential risks and uncertainties that could cause actual future results to differ from those expressed by forward-looking statements include, among others, changes in the size of the Russian television advertising market; the continued successful operation of the Company’s own internal sales house structure; depreciation of the value of the Russian ruble compared to the US dollar; the Company’s ability to deliver audience share, particularly in primetime, to its advertisers; free-to-air television remaining a significant advertising forum in Russia; and restrictions on foreign involvement in the Russian television business. These and other risks are described in the "Risk Factors" section of CTC Media's annual report on Form 10-K filed with the SEC on February 28, 2012 and our recently report on Form 10-Q filed with the SEC on May 3, 2012. Other unknown or unpredictable factors could have materilial adverse effects on CTC Mdi'Media's future results, performance or achievements. In lig htof these rikisks, uncertaiiinties, assumptions and factors, the fdforward-lkilooking events discussed herein may not occur. You are cautioned not to place undue reliance on these forward-looking statements. CTC Media does not undertakeany obligation to publicly update or revise any forward-looking statements because of new information, future events or otherwise.

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