GLOBAL OPPORTUNITIES CONFERENCE

September 19, 2013 Forward-Looking Statements

This presentation may include certain information that is “forward-looking information” under applicable Canadian securities laws and “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. The Company has tried, where possible, to identify such information and statements by using words such as “believe,” “expect,” “intend,” “estimate,” “anticipate,” “may,” “will,” “could,” “would,” “should” and similar expressions and derivations thereof in connection with any discussion of future events, trends or prospects or future operating or financial performance. Forward-looking statements in this presentation include statements with respect to the implementation and results of the Company’s transformation initiatives and the realization of anticipated cost savings

By their nature, forward-looking information and statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. These risks and uncertainties include, among others, competition from other and alternative forms of media; the effect of economic conditions on advertising revenue; the ability of the Company to build out its digital media and online businesses; the failure to maintain current print and online readership and circulation levels; the realization of anticipated cost savings; possible damage to the reputation of the Company’s brands or trademarks; possible labour disruptions; possible environmental liabilities, litigation and pension plan obligations; fluctuations in foreign exchange rates and the prices of newsprint and other commodities. For a complete list of our risk factors please refer to the section entitled “Risk Factors” contained in our interim management’s discussion and analysis for the three and nine months ended May 31, 2013 and 2012 and our annual management’s discussion and analysis for the years ended August 31, 2012 and 2011, which can be found on the Company’s website at www.postmedia.com, on SEDAR at www.sedar.com or on the SEC’s website at www.sec.gov. Although the Company bases such information and statements on assumptions believed to be reasonable when made, they are not guarantees of future performance and actual results of operations, financial condition and liquidity, and developments in the industry in which the Company operates may differ materially from any such information and statements in this presentation.

Given these risks and uncertainties, undue reliance should not be placed on any forward-looking information or forward-looking statements, which speak only as of the date of such information or statements. Other than as required by law, the Company does not undertake, and specifically declines, any obligation to update such information or statements or to publicly announce the results of any revisions to any such information or statements.

Unless otherwise noted, all references to “$” are to Canadian dollars.

2 COMPANY HIGHLIGHTS Our English-language paid daily newspapers have, in total, the highest weekly print readership when compared to other media organizations in Canada, reaching 4.1 million Canadians each week(1)

Digital properties with 6.9 million average monthly unique visitors(2), including newspaper sites ranked #1 in Canada that reach 36% of Canadian newspaper site visitors(2)

(1) Source: NADbank 2012 (2) Source: comScore, MediaMetrix, Total Canada, All Locations, Q3F’13 (3month Average Mar-May2013)

4 Company Highlights

• #1 English news source in its key markets provides strong value proposition to advertisers for local, regional, and national reach Transformation into • Four platform strategy driving conversion from legacy printing business into a content leading multi-platform engine offering customized bundles to both readers and advertisers content provider • Reinvesting in local news content within its markets and its already extensive portfolio of premium digital media, online and mobile assets • Robust, enterprise-wide audience data analytics will drive sales approach

• Multiple cost reduction initiatives successfully completed in 2010, 2011, and 2012

Significant cost • Three-year transformation program initiated in Q3 of F2012 with target of eliminating savings opportunities 15% to 20% of operating costs • As of May 31, 2013 implemented initiatives expected to yield net annualized cost savings of approximately $62 million • Shifting cost structure for higher margin digital environment

• Attractive margins and modest capital expenditures drive strong free cash flow • LTM free cash flow(1) to total indebtedness above 25% per annum since 2010 Strong free cash flow with track record of • Over $200 million of debt repaid since July 2010, excluding repayments made on debt repayment refinancing • First-lien debt reduced by $23.2 million from net proceeds of the sale of the Head Office in November 2012

(1) Free cash flow defined as Operating Income before Depreciation, Amortization and Restructuring less Capital Expenditures

5 Company Highlights

• Significant tangible asset base of owned real estate Substantial owned • Currently own approximately 1.4 million sq. ft. total, including seven facilities in excess of real estate value 100,000 sq. ft. • Potential for additional asset sales to accelerate debt repayment

• Since 2008, Canadian newspapers have outperformed U.S. newspapers Canadian newspaper (2) fundamentals superior • Better newspaper industry penetration in Canada (73% vs. 53%) to U.S. • Newspaper readership in Canada continues to grow (top 19 markets have grown 3.4% since 2008)(3)

• Management and Board of Directors have extensive industry experience Strong, well-respected • CEO is a respected figure in Canadian media with long-standing management team relationships with key advertisers in major sectors such as auto and financial

(1) Company Filings. Canadian Newspapers consist of reported newspaper segments of Postmedia, , FP Newspapers, Glacier Media and (Star and Metroland). U.S. Newspapers consist of reported newspaper segments of , , McClatchy, Lee Enterprises, and Media General. (2) eMarketer, Global Media Intelligence Report: 2012 (3) NADbank 2012

6 Well-Established and Trusted Brands

#1 69% M.S. #1 #1 100% M.S. 82% M.S. #1 100% M.S.(1) #1 100% M.S. (3) #2(2) #3 100% M.S.(1) 100% M.S. #1 100% M.S. #1 77% M.S.

• Postmedia’s newspaper brands are woven into the fabric of the communities they serve, some for over a century • Each of the Corporation’s nine daily metropolitan newspapers has the highest circulation and readership among English-language newspapers in the market that it serves (except for , which is second in its market to another of Postmedia’s newspapers, The ) • Brands include the , Gazette and Vancouver Sun – 100% market share of paid daily English language newspapers in five of nine markets • The , one of Canada’s two daily national newspapers • Five community newspapers, serving areas in Southwestern Ontario

Note: Market shares represent local market share of paid daily newspapers (1) Includes The Vancouver Sun and The Province (2) Second to The Vancouver Sun which is also operated by the company (3) Number one among English-language paid daily newspapers, number three overall among paid daily newspapers

7 Portfolio of Premium Digital Assets • Postmedia owns and represents 22 destination websites and has exclusive advertising representation agreements with high-profile third party sites • sites audience of 6.9 million average monthly unique visitors (“UVs”) combined with third party sites of 1.6 million UVs for a net audience(1) of 7.5 million UVs

Postmedia Network Sites 3rd Party Sites Managed & Infomart.ca 6.9 million UVs (2) Exclusive Ad Agreements Approximately 1,000 subscribers 1.6 million UVs(2) Ranks #6 in News & Information category

Newspaper sites 6.1 million monthly UVs

• Electronic resource of Canadian news and business information products • Same-day and archival access to approximately 6,625 full-text canada.com (site) newspapers, magazines, newswires, transcripts and blogs(3)

canada.com classifieds

(1) Number of individuals, households, etc., potentially exposed to a 'Media Vehicle' or 'Media Schedule' at least once using successive issues and/or broadcasts. Commonly termed 'Net Unduplicated Audience', 'Unduplicated Audience', 'Cumulative Audience', 'Cumulative Reach' or just 'Reach'.Those individuals exposed to more than one insertion are only counted once. (2) Source: comScore, MediaMetrix, Total Canada, All Locations, Q3F’13 (3 month Average Mar-May 2013) (3) Source: based on 1000 subscribers as of July 31, 2012

8 INDUSTRY & COMPETITION Canada Newspaper Industry to Outpace U.S.

• Canadian newspaper advertising market expected to outperform the U.S. market over the next five years – Driven by greater growth in digital advertising segment and slower decline in traditional print advertising • Newspaper digital advertising market in Canada expected to grow to US$510 million by 2016 – Accelerated growth rate versus U.S. driven by less developed market in Canada and better market positioning of Canadian newspapers to capitalize on shift to online

Newspaper Print Advertising Growth Newspaper Digital Advertising Growth

U.S. CAGR: (4.3%) Canada CAGR: (3.3%) U.S. CAGR: 9.0% Canada CAGR: 11.1%

0.0% 20.0%

15.6% (2.0%) 15.0% (1.7%) 12.1% (2.7%) (2.6%) (3.2%) (3.1%) 9.9% 9.6%10.8% (4.0%) (3.5%) 10.0% 9.3% 9.0% (3.8%) (3.7%) 8.2% 8.1% 8.3% Print Ad Print Ad Growth % Digital Ad Ad Digital Growth % (6.0%) 5.0% (5.8%)

(8.0%) (7.6%) 0.0% 2012 2013 2014 2015 2016 2012 2013 2014 2015 2016 U.S. Canada U.S. Canada

Source: PwC Global Entertainment and Media Outlook (June 2012)

10 Newspapers Remain Key Advertising Channel

• Newspapers account for approximately 17% of advertising spend • Total advertising spend has recovered from recession lows and is experiencing growth

2013 Advertising Spending Segmentation Canadian Advertising Spending Forecast

Radio Newspaper 14% 17%

Magazines 5% Out-of- Home 4% Television 30%

Internet 30%

Source: ZenithOptimedia Advertising Expenditure Forecasts, June 2013

11 Digital Advertising Continues to Represent Significant Opportunity

2013 Online Revenue and %Share by Advertising Vehicle 5,000 20% 4,500 18% Video Email Mobile 4,000 16% $200 million $11 million $215 million 6% 6% 3,500 14% 3,000 12% 2,500 10% Search

Classified $1.4 2,000 8% Change % $582 billion 1,500 6% million 41% 1,000 4% 17% 500 2% - 0% Display ($ million)Expenditures Advertising Annual 2011 2012 2013E 2014E 2015E $1 billion 30% Display Video Classified Search Email Mobile YoY Change • Total 2013 Online advertising revenue estimated $3.4 billion • Search and Display continue to grow and collectively represent almost 71% of all Canadian Online ad revenue • Compared to 2012, Search +13% to $1.4 billion and Display +10% to $1.0 billion • Classifieds have seen smaller growth, +1% since 2012 • Collectively, these three ad vehicles represent 88% of all Online advertising for 2013 • Online Video advertising expected to grow +61% from $124 million in 2012 to $200 million in 2013 • In 2013, Mobile advertising expenditures are forecast at $215 million, +65% versus 2012

Source: ZenithOptimedia Advertising Expenditure Forecasts, June 2013

12 Newspaper Readership in Canada Still Strong

• Canadian newspaper print and website readership continues to grow despite strong competition from online news brands • Weekly newspaper print readership has been stable despite challenging economic and structural trends • Website / digital properties enhancing 24/7 news capabilities

Weekly Print & Website Readership Growing Weekly Print Readership Stable (millions) (millions)

CAGR: 1.7% 13.5 CAGR: 0.7% 12.3 12.2 12.2 13.1 13.0 12.8 12.0

12.4 11.8

2008 2009 2010 2011 2012 2008 2009 2010 2011 2012

Source: NADbank 2012, top 19 markets Source: NADbank 2012, top 19 markets

13 The Postmedia Network Advantage

Postmedia daily newspapers reach 4.1 million Canadian adults each week

% Share of English Total Paid Daily Weekly Readership(1) – Adults 18+ Circulation(2) 4.1 Million

Other 20% 2.9 Million 2.9 Million 2.5 Million 33% 2.4 Million 1.9 Million 9%

16% 22%

Toronto Star Network: , KW Record, Guelph Mercury and Hamilton Spectator : , Sun, , and Metro Network: Metro - Vancouver, Calgary, Edmonton, Toronto, Ottawa and Halifax 24 Hours Network: 24 Hours - Vancouver, Calgary, Edmonton, Toronto and Ottawa Postmedia Network owned properties: National Post, Vancouver Sun, The Province, Calgary Herald, , Regina Leader Post, Saskatoon Star Phoenix, , ,

(1) Source: NADbank 2012; For comparative purposes, Networks based on English language readership. Weekly Readership = 6/7 day cumulative (cume) Postmedia, Sun Media, TorStar, Globe and Mail; 5-day cume Metro and 24 Hours Base:, Postmedia Network owned properties , Sun Media (5 markets + 15 markets for Toronto Sun), Torstar (19 markets), Globe and Mail (48 markets), Metro (6 markets), 24 Hours (5 markets). (2) Source: Newspapers Canada 2012 Circulation Data Report; Postmedia includes disposed properties

14 Postmedia is #1 in the Newspaper Website Category

Newspaper Website Category

Unique Visitors (000) – Q3F’13

Postmedia Newspapers 36% Reach 6,141

Canoe Sun Media Newspapers 5,248

Toronto Star 3,874

The Globe And Mail 3,721

Transcontinental Digital Local 2,565 Solutions Group Postmedia Newspapers The New York Times Brand 2,559 reach 36% of all Canadians who visit newspaper Mail Online 2,231 websites

The Guardian 2,205

Telegraph Media Group 1,370

T365 - Tribune Newspapers 1,225

Source: comScore, MediaMetrix, Total Canada, All Locations, Q3F’13 (3 month Average Mar-May 2013)

15 Postmedia Digital Newspapers have more than doubled in size since 2008

• Audiences have grown consistently over time • Postmedia Newspaper sites reach over 6 million average monthly unique visitors in Q3F’13 +165% Since 2008

7,000

6,141 6,000 5,333 +15% 4,825 5,000 +11% 4,050 +19% 4,000 3,065 +32% 3,000 2,320 +32% 2,000

1,000 Average Monthly (000) Visitors Monthly Unique Average

0 2008 2009 2010 2011 2012 Q3F'13

Source: comScore, MediaMetrix, Total Canada, All Locations, Postmedia Digital Newspapers, Average Monthly Unique Visitor Trends Fiscal 2008 to Fiscal 2012 and Q3’F’13

16 Rapidly Growing Mobile Audience

UNIQUE PAGE VIEWS VISITORS* • Average monthly Vancouver Sun 802,000 19,017,000 audience of 6.0 million in Vancouver Province 470,000 15,900,000 Q3 F’13 represents +49% Calgary Herald 598,000 19,049,000 Edmonton Journal 421,000 15,482,000 increase vs. Q3 F’12 Saskatoon Star-Phoenix 123,000 2,900,000 Regina LeaderPost 148,000 2,774,000 • Average monthly page Windsor Star ** 323,000 5,218,000 views of 110.2 million in Ottawa Citizen 372,000 8,931,000 Q3 F’13 represents +57% Montreal Gazette 406,000 7,493,000 increase vs. Q3 F’12 National Post 1,860,000 12,175,000 280,000 877,000 canada.com 195,000 339,000 Postmedia Total 6,004,000 110,183,000

Source: Omniture SiteCatalyst 3 month average- Mar/Apr/May 2013 – Worldwide Audience Note: for National Post, Google Analytics used to provide iPhone/iPad app data *Note: UV duplication between properties and devices **Note: Windsor Star UV’s PV’s are from a different reporting suite due to the adoption of the ‘responsive design website” launched on Nov 26, 2012

17 BUSINESS STRATEGY 19 MONETIZE

Capitalize on our audience-selling capabilities, leverage our audience engagement, build profitable relationships between advertisers and their targets, drive our All Access and Digital Access offerings with consumers.

Audience based selling • Shift of sales focus from traditional sale of “impressions” to selling audience and results • Development of deep audience database with full data analytics to be completed in fiscal 2013 • Aggressive digital growth through greater local client penetration, behavioural targeting, real-time bidding, video and mobile • Proactive, key account strategy • Complete implementation of customer relationship management system • Redesign sales compensation plan to support new sales strategy • Training/development to support new sales strategy All Access & Digital Access Bundles

20 DIFFERENTIATE

Create distinctive and differentiated products across four platforms (print, web, tablet & smartphone) leveraging their unique features and uses to deliver personalized experiences to specific audiences, with a strong focus on local content.

Content designed to connect with more audiences, in more meaningful ways, more times throughout the day.

Specific approach to storytelling that fits the unique attributes of the platform and device, the distinct characteristics of an audience, and the expectations of that audience given the time of day.

21 ENGAGE

Leverage our differentiated products and advanced audience analytics capabilities to create experiences that exceed the expectations of loyal subscribers, deepen relationships with engaged users, and create a following among urban Canadians.

THE ENGAGEMENT GOAL

22 How We’ll Get There

Engaged and Aligned Employees We will empower and engage employees by connecting their work directly to the audience and advertiser experience.

Efficient Cost Structure We will continue the transformation from the legacy processes and costs of a traditional newspaper publisher to the efficient, responsive systems and processes required of a competitive, multi-platform, modern media company.

23 Ongoing Reduction of Print Related Infrastructure

Current Status of Transformation Program • The company successfully implemented over $50 million of operating cost reductions to the end of fiscal 2011 • In late fiscal 2012, initiated a new transformation program with target of eliminating additional 15% to 20% of operating costs over next 3 years • As of May 31, 2012 the company has implemented net annualized savings of approximately $62 million or approximately 9% of operating costs

Transformation Priorities Track Record of Cost Reduction (1) Targeting operating cost reductions from F’13 to F’15 in the $1,200

following areas: i. Streamlining of organizational structure based on shift $1,000 from geographic to functional focus. ii. Ongoing centralization of common functions such as $800 content production, marketing, newspaper layout and design, sales support, collections, and financial analysis $600

and reporting. Costs (C$ millions) iii. Outsourcing of non-strategic functions including $400 production, technology hosting, and admin functions. $200

iv. Exploration of alternative print formats (tab vs. Operating ). $0 v. Ongoing optimization of distribution footprint as audience F2008 F2009 F2010 F2011 F2012 Q3 F13 migrates from print to digital products. LTM vi. Monetization of real estate assets to accelerate debt Discontinued Operations (2) Continuing Operations repayment.

(1) Financial information for periods prior to July 13, 2010 relate to Limited Partnership and for periods subsequent to July 13, 2010 relate to Postmedia Network Canada Corp. (“Postmedia” or the “Company”). Postmedia adopted IFRS on September 1, 2011. As a result, financial information for periods prior to F2011 have been prepared in accordance with Canadian GAAP - Part V and financial information for periods subsequent to F2010 have been prepared in accordance with IFRS. For a full discussion of the impact of the transition to IFRS see the interim condensed consolidated financial statements and MD&A for the three months ended November 30, 2011 and 2010. (2) On November 30, 2011, the Company completed the sale of the Victoria Times Colonist, Vancouver Island Newspaper Group and certain community newspapers in British Columbia (the “Disposed Properties”) to affiliates of Glacier Media Inc. As a result of the sale, the Company has presented the results of the Disposed Properties as discontinued operations and as such the F2011 financial information has been revised to reflect this change in presentation.

24 Significant Value in Real Estate

Owned Properties(1) Summary of Facilities

City Sq.ft.

1 Calgary, AB 383,000

Edmonton, AB 2 Surrey, BC 208,047 Production 187,000 sq. ft. Saskatoon, SK 3 Ottawa, ON 190,000 Combined Facilities Edmonton, AB 110,000 sq. ft. Office (1) 4 Edmonton, AB 187,000 133,250 sq. ft. Regina, SK 5 Montreal, QC 165,000 Combined Facilities Surrey, BC 103,946 sq. ft. Production 6 Saskatoon, SK 110,000 208,047 sq. ft. 8 Montreal, QC 4 Production 7 Regina, SK 103,946 165,000 sq. ft. 2 1 6 Ottawa, ON Total Owned 1,346,993 Combined Facilities 7 190,000 sq. ft. 8 Edmonton, AB(1) 133,250(1)

Other Leased 417,535 5 3 Total 1,764,528

Calgary, AB Combined Facilities 383,000 sq. ft.

(1) Edmonton, AB office is subject to a sale leaseback agreement, whereby Postmedia owns the land and space above and can repurchase the building in 2041.

25 FINANCIAL HIGHLIGHTS Recent Developments

• Completed implementation of pay meters for digital products in May 2013.

• Completed transition to functional organization structure in Q3 F’13 to streamline operations and management structure.

• On target to complete previously announced operating cost savings of 15% to 20% by end of fiscal 2015.

• Recently completed outsourcing of production in Edmonton, announced agreement to outsource production in Calgary and announced intention to close production facility in Vancouver.

• Completed C$250 1st lien bond offering on August 16, 2012 and used proceeds to fully repay US$ term loan.

• Sold head office building on October 12, 2012 and applied net proceeds to redeem $23.2 million of 1st lien bonds at par.

27 Revenue and Operating Income Performance

• Significant cost reductions resulting from transformation program have helped mitigate ongoing revenue pressure.

LTM Operating Income before Depreciation, LTM Consolidated Revenue (C$ millions) Amortization and Restructuring (C$ millions)

$300 $1,200 $250 $1,000 $200 $800

$150 $600

$100 $400

$200 $50

$0 $0 (1) Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 (1) F11 F12 F12 F12 F12 F13 F13 F13 F11 F12 F12 F12 F12 F13 F13 F13

(1) Q4 Fiscal 2011 adjusted financial information is based on actual fiscal 2011 results adjusted to exclude the Disposed Properties (Times-Colonist, Vancouver Island Newspaper Group, and BC community newspapers).

28 Debt Repayment Record and FCF Generation

• Transformation program has helped to stabilize cash flow • Top priority for free cash flow(1,3) is debt reduction. • Debt outstanding has been reduced by more than $200 million since July 2010. • Pursuing additional real estate opportunities (Vancouver, Calgary and Edmonton) to accelerate debt repayment

LTM Free Cash Flow(1,3) (C$ millions) Debt Outstanding (C$ millions) $200 $800

$150 $600

$100 $400

$50 $200

$0 (2) $0 Q4 F11 Q1 F12 Q2 F12 Q3 F12 Q4 F12 Q1 F13 Q2 F13 Q3 F13 July 13, 2010 Q4 Q4 Q4 Q3 F10 F11 F12 F13

(1) Represents a non-IFRS financial measure. Postmedia believes this measure is beneficial from the perspective of assessing the Company’s financial performance. However, non-IFRS financial measures do not have any standard definition prescribed under IFRS and as such may not be comparable to similar measures used by other companies. (2) On November 30, 2011, the Company completed the sale of the Victoria Times Colonist , Vancouver Island Newspaper Group and certain community newspapers in British Columbia (the “Disposed Properties”) to affiliates of Glacier Media Inc. As a result of the sale, the Company has presented the results of the Disposed Properties as discontinued operations and as such Q4 F11 and Q1 F12 LTM Free Cash Flow excludes discontinued operations. (3) Free cash flow defined as LTM Operating Income before Depreciation, Amortization and Restructuring less Capital Expenditures.

29 Low Capital Expenditures Requirements

• Priorities for capital investments Capital Expenditures (C$ millions) include: $8 – Updated sales productivity technology(CRM) $7

– Development of new digital products $6 to support four platform strategy $5 (print/web/tablet/smartphone) $4 – Development of integrated audience database analysis and targeting $3 capabilities $2 – Technology infrastructure to support centralization efforts $1 • Continued reduction of capex related $0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 to legacy print business F11 F11 F11 F11 F12 F12 F12 F12 F13 F13 F13

30 www.postmedia.com/investors/presentations