SCHIBSTED ANNUAL REPORT 2013 NOTES / GROUP

NOTE 7 DISCLOSURE OF OPERATING SEGMENTS

Schibsted reports four operating segments; Online classifieds, Schibsted Norge media house, Schibsted Sverige media house and Media Houses International.

Operating segment Online classifieds comprises the Norwegian online marketplace Finn and Schibsted Classified Media comprising all the Group’s online classifieds operations outside .

Operating segment Schibsted Norge media house comprises the media houses VG, , , and Fædrelandsvennen, printing and distribution operations, and the publishing house Schibsted Forlag.

Operating segment Schibsted Sverige media house comprises the media houses and and a portfolio of internet-based growth companies (including the online directory service Hitta).

Media Houses International comprises the concept for free newspapers 20 Minutes in Spain and France and Eesti Meedia Group (sold in September 2013, see note 4) comprising the Group’s operations in the Baltic States.

Other comprises operations not included in the four reported operating segments, including Sandrew Metronome (sold 1 April 2013), Aspiro and Mötesplatsen.

Headquarters comprise the Group’s headquarters Schibsted ASA and centralised functions within finance, real estate and IT.

Eliminations comprise intersegment sales. Transactions between operating segments are conducted on normal commercial terms. Headquarters has the majority of its operating revenues from other operating segments. The reported operating segments have only insignificant shares of intragroup operating revenues.

The division into operating segments corresponds to the management structure and the internal reporting to the Group’s chief operating decision maker, defined as the CEO. The division reflects an allocation based partly on the type of operation and partly on geographical location.

In the operating segment information presented, Gross operating profit (loss) after depreciation and amortisation is used as measure of operating segment profit or loss. For internal control and monitoring, Gross operating profit (loss) is also used as measure of operating segment profit or loss. SCHIBSTED ANNUAL REPORT 2013 NOTES / GROUP

Information about operating revenues and profit (loss) by operating segments is as follows:

Schibsted Schibsted Norge Sverige Media Online media media Houses Head- 2013 ­classifieds house house International Other quarters Eliminations Total Subscription revenues - 1,300 428 59 - - - 1,787 Casual sales revenues 9 1,256 1,041 29 - - - 2,335 Advertising revenues 4,028 2,810 1,712 467 - - - 9,017 Other revenues 126 952 495 144 345 31 - 2,093 Operating revenues from external ­customers 4,163 6,318 3,676 699 345 31 - 15,232 Operating revenues from other segments 102 50 55 29 - 324 (560) - Operating revenues 4,265 6,368 3,731 728 345 355 (560) 15,232 Operating expenses (3,388) (5,646) (3,378) (726) (396) (599) 560 (13,573) Share of profit (loss) of associated companies (15) 2 10 - - 16 - 13 Gross operating profit (loss) 862 724 363 2 (51) (228) - 1,672 Depreciation and amortisation (151) (209) (50) (25) (14) (41) - (490) Gross operating profit (loss) after ­depreciation and amortisation 711 515 313 (23) (65) (269) - 1,182

Schibsted Schibsted Norge Sverige Media Online media media Houses Head- 2012 Restated ­classifieds house house International Other quarters Eliminations Total Subscription revenues - 1,263 398 83 - - - 1,744 Casual sales revenues 12 1,350 1,074 42 - - - 2,478 Advertising revenues 3,478 2,974 1,647 555 - - - 8,654 Other revenues 45 888 376 224 317 37 - 1,887 Operating revenues from external ­customers 3,535 6,475 3,495 904 317 37 - 14,763 Operating revenues from other segments 112 10 43 35 - 310 (510) - Operating revenues 3,647 6,485 3,538 939 317 347 (510) 14,763 Operating expenses (2,547) (5,716) (3,139) (942) (356) (564) 510 (12,754) Share of profit (loss) of associated companies - 3 30 - - 1 - 34 Gross operating profit (loss) 1,100 772 429 (3) (39) (216) - 2,043 Depreciation and amortisation (144) (207) (45) (32) (15) (36) - (479) Gross operating profit (loss) after ­depreciation and amortisation 956 565 384 (35) (54) (252) - 1,564 SCHIBSTED ANNUAL REPORT 2013 NOTES / GROUP

Information about operating revenues by products and services are as follows:

Operating revenues 2013 2012 Classified 4,268 3,661 Printed newspapers 8,249 8,415 Online newspapers 2,882 2,255 Live pictures 5 134 Others 611 864 Eliminations (783) (566) Total 15,232 14,763

Operating revenues include government grants at NOK 59 million in 2013 and NOK 57 million in 2012. In addition barter agreements are included with NOK 77 million in 2013 and NOK 67 million in 2012.

Information about operating revenues and non-current assets by ­geographical areas

In presenting geographical information, attribution of operating revenues is based on the location of group companies. There are no significant differences between the attribution of operating revenues based on the location of group companies and an attribution based on the customers’ location. Non-current assets are attributed based on the geographical location of the assets.

Operating revenues 2013 2012 Norway 7,726 7,842 4,736 4,206 France 1,173 955 Spain 803 823 Baltics 381 461 Other Europe 275 383 Other countries 138 93 Total 15,232 14,763

Non-current assets 2013 2012 Norway 3,803 3,608 Sweden 1,960 1,412 France 3,566 3,100 Spain 2,697 2,372 Baltics - 336 Other Europe 372 549 Other countries 525 82 Total 12,923 11,459

Non-current assets comprise assets excluding deferred tax assets and financial instruments, expected to be recovered more than twelve months after the reporting period.