FTSE COMPANY REPORT Share price analysis relative to sector and index performance Data as at: 23 December 2016 Creston CRE Media — GBP 1.24 at close 23 December 2016 Absolute Relative to FTSE UK All-Share Sector Relative to FTSE UK All-Share Index PERFORMANCE 23-Dec-2016 23-Dec-2016 23-Dec-2016 1.5 120 120 1D WTD MTD YTD Absolute 0.0 -0.2 -1.4 -0.8 1.4 110 110 Rel.Sector 0.0 -1.8 -8.5 -5.2 Rel.Market -0.1 -1.0 -5.0 -10.9 1.3 100 100 VALUATION 1.2 (local currency) (local 90 90 Trailing 1.1 Relative Price Relative Price 80 80 PE -ve Absolute Price Price Absolute 1 EV/EBITDA 5.6 70 70 0.9 PCF 8.1 PB 0.6 0.8 60 60 Price/Sales 0.7 Dec-2015 Mar-2016 Jun-2016 Sep-2016 Dec-2016 Dec-2015 Mar-2016 Jun-2016 Sep-2016 Dec-2016 Dec-2015 Mar-2016 Jun-2016 Sep-2016 Dec-2016 Div Yield 4.5 Absolute Price 4-wk mov.avg. 13-wk mov.avg. Relative Price 4-wk mov.avg. 13-wk mov.avg. Relative Price 4-wk mov.avg. 13-wk mov.avg. Div Payout -ve 100 90 100 ROE -ve 90 80 90 Net Debt/Equity 0.0 80 70 80 70 60 70 60 DESCRIPTION 50 60 50 40 50 The Company is principally engaged in insight and 40 RSI (Absolute) RSI 30 40 communications services. 30 20 20 30 10 10 20 RSI (Relative to FTSE UK All-Share Index) UK All-Share to FTSE (Relative RSI RSI (Relative to FTSE UK All-Share Sector) UK All-Share to FTSE (Relative RSI 0 0 10 Dec-2015 Mar-2016 Jun-2016 Sep-2016 Dec-2016 Dec-2015 Mar-2016 Jun-2016 Sep-2016 Dec-2016 Dec-2015 Mar-2016 Jun-2016 Sep-2016 Dec-2016 See final page and http://www.londonstockexchange.com/prices-and-markets/stocks/services-stock/ftse-note.htm for further details. Past performance is no guarantee of future results. Please see the final page for important legal disclosures. 1 of 4 FTSE COMPANY REPORT: Creston 23 December 2016 Valuation Metrics Price to Earnings (PE) EV to EBITDA Price to Book (PB) 31-Oct-2016 31-Oct-2016 31-Oct-2016 20 8 0.8 7 0.7 15 +1SD +1SD 6 +1SD 0.6 10 5 Avg Avg Avg 0.5 4 5 -1SD -1SD -1SD 0.4 3 0 ǁǁ 2 0.3 Nov-2011 Nov-2012 Nov-2013 Nov-2014 Nov-2015 Nov-2011 Nov-2012 Nov-2013 Nov-2014 Nov-2015 Nov-2011 Nov-2012 Nov-2013 Nov-2014 Nov-2015 Ascential 71.7 Zoopla Property Group 29.2 Rightmove 25.0 Zoopla Property Group 50.1 Rightmove 25.6 4imprint Group 23.1 Rightmove 32.5 Auto Trader Group 22.9 STV Group 14.9 Informa 31.8 4imprint Group 19.7 Zoopla Property Group 10.9 4imprint Group 30.8 Ascential 17.0 Moneysupermarket.com Group 8.6 Media 17.4 Media 11.6 Media 3.5 Euromoney Institutional Investor 12.7 ITV 8.3 Pearson 1.0 Bloomsbury Publishing 11.7 Bloomsbury Publishing 6.8 Bloomsbury Publishing 0.9 Pearson 7.6 Creston 5.6 Creston 0.6 Trinity Mirror 3.0 Entertainment One 3.5 Trinity Mirror 0.3 Creston -6.2 Trinity Mirror 2.6 Auto Trader Group 0.0 -20-100 1020304050607080 0 5 10 15 20 25 30 35 0 5 10 15 20 25 30 Price to Cash Flow (PCF) Dividend Yield % Price to Sales (PS) 31-Oct-2016 31-Oct-2016 31-Oct-2016 80 6.5 1.3 70 6 1.2 60 5.5 1.1 1 50 5 +1SD +1SD 0.9 40 +1SD 4.5 0.8 Avg 30 4 Avg 0.7 20 3.5 -1SD Avg 0.6 10 3 -1SD 0.5 0 2.5 0.4 Nov-2011 Nov-2012 Nov-2013 Nov-2014 Nov-2015 Nov-2011 Nov-2012 Nov-2013 Nov-2014 Nov-2015 Nov-2011 Nov-2012 Nov-2013 Nov-2014 Nov-2015 4imprint Group 33.2 Pearson 6.8 Rightmove 15.0 Zoopla Property Group 33.0 Trinity Mirror 6.3 Auto Trader Group 13.3 Rightmove 30.6 ITE Group 5.1 Zoopla Property Group 11.8 Ascential 28.1 Creston 4.5 Moneysupermarket.com Group 5.1 Bloomsbury Publishing 23.0 Bloomsbury Publishing 4.2 Informa 4.5 Media 13.4 Media 3.2 Media 2.1 RELX 10.9 Rightmove 1.2 Entertainment One 1.2 Sky 8.3 Zoopla Property Group 1.1 Sky 1.2 Creston 8.1 Entertainment One 0.5 Bloomsbury Publishing 0.9 Entertainment One 3.5 Auto Trader Group 0.4 Creston 0.7 Trinity Mirror 3.4 Ascential 0.0 Trinity Mirror 0.4 0 5 10 15 20 25 30 35 012345678 0 2 4 6 8 10 12 14 16 Note: bar chart reflects the top and bottom five current values for the valuation ratio in question for FTSE All Shares stocks in the same sector as the stock concerned. All valuation metrics are trailing. 2 of 4 FTSE COMPANY REPORT: Creston 23 December 2016 Valuation Metrics Net Debt to Equity Dividend Payout (DP) Return on Equity (RoE) 31-Oct-2016 31-Oct-2016 31-Oct-2016 0.02 80 10 70 9 +1SD 8 0.015 60 7 +1SD Avg 50 6 0.01 40 5 Avg 30 4 -1SD 3 0.005 20 -1SD 2 10 1 0 0 ǁǁ 0 ǁǁ Nov-2011 Nov-2012 Nov-2013 Nov-2014 Nov-2015 Nov-2011 Nov-2012 Nov-2013 Nov-2014 Nov-2015 Nov-2011 Nov-2012 Nov-2013 Nov-2014 Nov-2015 STV Group 3.6 UBM 100.0 Rightmove 50.0 Ascential 2.8 Sky 85.9 STV Group 50.0 Sky 2.6 Moneysupermarket.com Group 78.9 4imprint Group 50.0 RELX 1.8 Informa 76.0 RELX 47.4 Tarsus Group 1.5 ITE Group 71.7 ITV 46.5 Media 0.9 Media 55.7 Media 19.9 Bloomsbury Publishing 0.0 Entertainment One 14.0 UBM 11.3 Euromoney Institutional Investor 0.0 Auto Trader Group 11.8 Ascential 11.2 Rightmove 0.0 ITV 0.0 Bloomsbury Publishing 7.6 Moneysupermarket.com Group 0.0 Ascential 0.0 Entertainment One 7.4 Creston 0.0 Creston 0.0 Creston -8.7 00.511.522.533.54 0 20 40 60 80 100 120 -20-100 102030405060 ROE vs. PB — sector Du Pont Analysis 30 1.6 10 1.4 9 25 RMV 8 1.2 FOUR 7 1 20 6 0.8 5 PB 15 STVG 0.6 4 0.4 ZPLA 3 10 0.2 MONY 2 ASCL TRS REL ITV 0 5 1 INF SKY ITE UBM Media WPP ERM -0.2 ǁ 0 ETO 2012 2013 2014 2015 2016 CRE BMY PSON 0 TNI 0 102030405060 Net Margin Asset Turnover Gearing ROE (rhs) ǁ ROE Note: bar chart reflects the top and bottom five current values for the valuation ratio in question for FTSE All Shares stocks in the same sector as the stock concerned. All valuation metrics are trailing. 3 of 4 FTSE COMPANY REPORT: Creston 23 December 2016 Brief description Brief description Price to Earnings Price to Earnings (PE) is price over earnings per share. Earnings are based on the latest Gearing Gearing is Total Assets divided by Common Equity. Total Assets and Common Equity are (PE) available fiscal year earnings. each averaged over two years, that is, t and (t-1). Price to Sales (PS) Price to Sales (PS) is price divided by sales per share. It is based on sales from continuing Asset Turnover Asset turnover is Sales divided by Total Assets. Total Assets is averaged over two years, operations for the fiscal year. that is, t and (t-1). Price to Book (PB) Price to Book (PB) is price at the indicated date divided by common equity per share. Dupont Breakdown Return on Equity (RoE) = Net Margin * Gearing * Asset Turnover Common/ordinary equity is generally as reported at the most recent fiscal year-end but is Analysis adjusted to exclude minority interest, preferred stock and selected items as appropriate. RoE vs PB Plot of RoE versus PB at last month end for all FTSE UK All Share stocks in the sector Price to Cash Flow Price to Cash Flow (PCF) is price at the indicated date divided by cash flow per share. relative to the stock in question. Data may be limited to the stock in question if there are (PCF) currently no stocks in the corresponding FTSE UK All Share sector. Net Debt Equity Net Debt Equity is Net Debt as a percentage of common equity. Not calculated if Absolute Absolute graphs reflect performance for the stock in question for up to 366 days adjusted denominator (common equity) is negative for intervening corporate actions. EV to EBITDA EV to EBITDA is Enterprise Value divided by EBITDA (Earnings before Interest and Taxes, Relative Relative charts reflect the performance for the stock in question relative to the depreciation and amortisation). EV is full company Market Capitalisation at the data date corresponding sector of the FTSE All Share Index for up to 366 days, rebased to the start plus last annual net debt and Preferred Stock. Net Debt is total financial debt less cash date. Note that the stock itself may not be a FTSE All share constituent.