Investor Day Paris - June 12, 2008 Warning Certain of the statements contained in this document are not historical facts but rather are statements of future expectations and other forward-looking statements that are based on management's beliefs. These statements reflect such views and assumptions as of the date of the statements and involve known and unknown risks and uncertainties that could cause future results, performance or future events to differ materially from those expressed or implied in such statements. When used in this document, words such as "anticipate", "believe", "estimate", "expect", "may", "intend" and "plan" are intended to identify forward-looking statements which address our vision of expected future business and financial performance. Such forward-looking statements include, without limitation, projections for improvements in process and operations, revenues and operating margin growth, cash flow, performance, new products and services, current and future markets for products and services and other trend projections as well as new business opportunities. These forward-looking statements are based upon a number of assumptions which are subject to uncertainty and trends that may differ materially from future results, depending on a variety of factors including without limitation: General economic and labor conditions, including in particular economic conditions in Europe and North America Legal, financial and governmental risks (including, without limitation, certain market risks) related to the businesses Certain risks related to the media industry (including, without limitation, technological risks) The cyclical nature of some of the businesses Please refer to the most recent Reference Document (Document de Référence) filed by Lagardère SCA with the French Autorité des Marchés Financiers for additional information in relation to such factors, risks and uncertainties. Lagardère SCA disclaims any intention or obligation to update or review the forward-looking statements referred to above. Consequently Lagardère SCA is not responsible for any consequences that could result from the use of any of the above statements. Investor day, June 2008 • 2 Agenda Opening remarks Didier Quillot Current market conditions “ Where we are in 2008 “ Focus on “Active 2009” Alain Lemarchand Focusing on growth: “Active 2009 Growth” Maximizing growth potential of core assets Didier Quillot Emerging countries “ Digital rollout Julien Billot 2012 vision for Lagardère Active Didier Quillot Investor day, June 2008 • 3 Agenda Opening remarks Investor day, June 2008 • 4 Opening remarks In the past 18 months In the next 3 years We have changed our culture: We will continue to transform Lagardère Active reactivity, focus, costs, digital Focused portfolio, targeting leadership We have improved our profitability segments in print / radio / TV / digital We are focusing our portfolio on a Cost streamlining few strategic segments / media / geographies (upscale women, Emphasis on 3 topline growth levers shelter, celebrity, automotive, – Topline management of core assets music, news and kids in France) – Emerging countries – Digital We have launched the digital transformation: digital will reach => Towards a fully-integrated plurimedia company 5% to 10% of our turnover in 2008 - Generating 10%-20% of revenue from digital - Delivering EBIT growth Investor day, June 2008 • 5 Agenda Current market conditions Media consumption – Magazine – Radio – TV – Internet Advertising spend Investor day, June 2008 • 6 Mixed picture for magazine circulation in mature Media Advertising consumption spend countries, solid growth in emerging countries Magazine circulation growth 26.9% CAGR 2004-2007, % 21.5% Mature countries Emerging countries -4.7% - 3.1% -2.1% -1.1% -1.0% -0.5% -4,7% -3,1% -2,1% -1,1% -1,0% -0,5%* 21,5% 26,9% *2004-2006 Sources: France: OJD / UK: ABC / Russia: TNS Gallup / Italy: ADS / Spain: OJD & Nielsen / US: ABC / China: claimed circulation / Japan: Research Institute for Publications 2008 - base print run Investor day, June 2008 • 7 Upscale Women & Celebrity (main Lagardère Active magazine segments): Media Advertising consumption spend dynamism confirmed Gross advertising revenues & average circulation CAGR 2004-07, % 8,0%8.0% 7,7.6%6% 4,7%4.7% Celebrity 12,7%12.7% 1212.7%,7% 15,3%15.3% Upscale 1,7%1.7% 0,0.8%8% 0,1%0.10.1%% women 7,5%7.5% 7,7.3%3% 10,2%10.2% 2,9%2.9% 5,5.8%8% -2.5%-2,5% News 2.9% 4,9%4.9% 4,7%4.7% -3.4%-3,4% 2,5%2.5% -2.0%-2,0% 1,4%1.4%1.4% Shelter 5,6%5.6% 4,4.9%9% 12,0%12.0% 0,6%0.6% --10.1%10,1% -1.01.0%-0,7%% Auto 10,7%10.7% -7-7.4%,4% 7,0%7.07.0%% -3.1%-3,1% 0,6%0.6% -28.6%-28,6% TV -28.6% -5.5%-5,5% 2,2.1%1% -17,4%-17,’% -11,6%-11.6% -6.9%-6,9% -2.5%-2,5% Lads 1,7% 5,7% mags -13,2%-13.2% 1.71.7%% 5.75.7%% CAGR Advertising CAGR Circulation Lagardère not present Sources – circulation: OJD, ABC Investor day, June 2008 • 8 Sources – advertising: TNS Media Intelligence, Nielsen Media Research Radio audience is still growing Media Advertising consumption spend in emerging countries Eastern Europe daily reach trends French radio listening* between 2005 and 2007 %** 100 9393 94 Daily reach in % 2004 2007 79 90 84% 7373 83.6% 62 5858 80 50 2007 2005 70 60 0 0 4 8 2 6 8 9 9 9 0 0 0 9 9 9 0 0 1 1 1 1 2 2 Q Russia Poland*Poland*Romania* Romania* 8 (Moscow)* 0 1 Q Note:*France: cumulative audience penetration (age 15+ for 1990 to 2002, 13+ from 2003);**Russia: age 12y+, Poland: age 15-34 Sources: Mediametrie, Zenith Optimedia, Target Group Index (MillwardBrown SMG/KRC) Investor day, June 2008 • 9 Fast growing DTT and eroding Media Advertising consumption spend analog TV audience Very fast growth in DTT penetration Other TV media under pressure ~9m households in 2008 Analog channel audience share: ÔÔ Cable / Satellite market share: Ô, DSL & DTT Ò 100% by switchover in 2011 Ad spend on DTT in France (gross) TV audience in France - Audience share (%) age 4+ €m TF1 CAGR 06-09 30 1200 France 2 1000 France 3 +75% 20 800 Canal + 600 407 10 France 5 + Arte 400 186 200 M6 0 0 2005200620072010 Other channels channels (Free DTT + 2006 2007 2008 2009 (+cable cable + sat) + sat) Sources: GFK, Référence des Equipements Multimédia / ZenithOptimedia / NPA Conseil / Médiamétrie Médiamat Investor day, June 2008 • 10 The internet consumption boom is not slowing down and end-users Media Advertising consumption spend are multimedia and multitasking People using the Internet at least once a week, by country Increasing mobile internet usage million % of Internet users also using Internet Mobile +8%* CAGR +9%* 279 265 in France - CAGR 2005-2007 2004-2010 231 226 165 170 11% 04 07 10 04 07 10 US Western Europe 16% Time per week spent on media in Europe 13% (average weekly number of hours) CAGR 2004-2007 +3.6% 48.4 43.5 4 3.8 3.9 4.2 4.6 4.4 4.9 Magazines 4.6 14.8 14.5 13.7 Newspapers 12.7 20052005 20072007 14.3 Radio 14.2 14.1 13.5 TV 8.5 10 11.2 11.6 Internet 2004 2005 2006 2007 Sources: European Interactive Advertising Association, Base: All people with children using each media, Médiamétrie, Media in Life 2008, All people age 13+: Ipsos Profiling, Sept- Nov 2007, Base Internet users age 15+, Enquête Téléphonie et Services mobiles Q3 2007, Base age 11+ ; GFK, Référence des Equipements Multimédia / ZenithOptimedia / NPA Investor day, June 2008 • 11 Conseil / Médiamétrie Médiamat …leading to high revenue growth Media Advertising consumption spend Internet advertising spend, €m - CAGR 2003-2008 e-commerce forecast e-commerce spend, €bn CAGR 2007-2010 US UK 2007 2, 000 17, 000 +20% +22% 2010* 1, 500 +47% 119 10, 000 1, 000 500 3, 000 0 2003 2008* 2003 2008* +17% 68 69 +21% France Spain & Italy 58 1, 000 1 ,000 +16% +15% 43 +40% +56% 2.3 +40% Sp 33 1.4 1.2 500 500 0.8 It +35% Western North Japan Russia China 0 0 Europe America 2003 2008* 2003 2008* Note: *Estimates Investor day, June 2008 • 12 Source: Ad Barometer - Bipe, Eurostat/nVision; Euromonitor Advertising spend growth is soft in mature Media Advertising consumption spend countries and strong in emerging countries… Advertising spend growth 27%27% CAGR 2004-2007, % 18%18% Mature countries Emerging countries 9.1% 9,1% 2.2% 3.3% 3.4% 3.5% 3.5% 3,3% 3,4% 3,5% 3,5% 2,2% Note: local currency Source: Zenith Optimedia Investor day, June 2008 • 13 In mature countries, Internet is driving ad spend growth; Media Advertising in emerging countries, all media are on an uptrend consumption spend Advertising spend by media, CAGR 2004-2007, % Western Europe Russia +4.7% +27% 0.6% 15.8% 2.0% 13.8% Magazines 3.4% 32.8% 4.2% 30.5% Newspapers + freesheets 48.6% 80% 4.0% TV 27.8% Radio US China Internet +3.5% +18% 4.1% 12.4% Other 1.0% 16.3% (outdoor + cinema) 1.9% 17.3% 1.4% 26.50% 22.9% 62.9% 10.3% 10.6% Note: local currency Investor day, June 2008 • 14 Sources: Zenith Optimedia, Bipe The market is affected by the 2008 recession: 2008/2009 addressable advertising market outlook US: -5% to -10% in 2008 ~ 0% to -2% in 2009 Western Europe: -2% to +1% in 2008 ≤ 0 % in 2009 Emerging countries: > +20% Digital: – Mature countries 20% to 25% – Emerging countries > 50% Investor day, June 2008 • 15 Conclusion on market trends Structural trends New trends The higher end of the market Magazine is performing well Economic slowdown is affecting Magazine circulation growing media advertising spend in most solidly in emerging countries countries Strong segments and leadership Eastern European countries titles/stations are resisting better Radio are still growing, though the in a tough environment