Reworld Media © Copyright by Reworld Media | All Rights Reserved

REWORLD MEDIAINFLUENCE | ENGAGE | AMPLIFY

45th UBS GLOBAL MEDIA & COMMUNICATIONS CONFERENCENew York City, 4/5/6 December 2017

CEO Gautier Normand

____

1

Reworld Media2

WE BELIEVE DIGITAL MEDIA OPPORTUNITIES ABOUND THE MARKET IS LARGE AND GROWING EXPONENTIALLY

WE OWN AND PRODUCE OUR CONTENT

WE FOCUS ON MONETISING OUR CONTENT

OUR STRONG BALANCE SHEET = ONE OUR KEY STRENGTHS

ESTABLISHED MEDIA GROUPS ARE ILL-EQUIPED TO SEIZE THEM WE ARE UNIQUELY POSITIONED TO CAPTURE THAT GROWTH

CONTENT IS KING, PROPRIETARY CONTENT IS EMPEROR

“BROADBAND PIPES OR CONTENT, THAT IS THE QUESTION”

“MONEY IS CHEAP SO LET’S LEVERAGE UP”

SAFE HARBOUR: WE ARE A FRENCH DIGITAL MEDIA GROUP

Reworld Media3

PROVEN GROWTH STRATEGY

• Strong organic growth

• Successful acquisitions 1) Digital (TRADEDOUBLER), 2) Media assets from established media groups: AXEL

SPRINGER, LAGARDERE- €200m sales in 2016 (pro-forma)

• Proven expertise in both restructuring and digital transition of media assets

UNIQUE VALUE PROPOSITION FOR ADVERTISERS

• Proprietary content creation

• Only market player with a fully integrated Branding+Performance offer

• Performance focused: “Bang for your Bucks”

“EXECUTION, EXECUTION, EXECUTION”, AS IMPORTANT AS (DIGITAL MEDIA) LOCATION

• Flawless track record

• Pass rather than overpay

• 2017 pause for breath

STRONG BALANCE SHEET ALLOWING STRATEGICALLY SENSIBLE ACQUISITIONS

• Price and selectivity and price key to build-up

• Near net cash position despite strong growth

ALREW PA: LEADING LISTED FRENCHTECH IN DIGITAL MEDIA

€

Reworld Media4

DIGITAL MEDIA TRANSFORMATION, OUR CORE BUSINESS

MEDIA BRANDING MEDIA PERFORMANCE

PRINT MEDIA DIGITAL MEDIA TRADEDOUBLER

MEDIA BRANDING

B2C – reader focused44 million magazines in circulation (*)

DIGITAL

B2B2C - advertiser16M visits / month

B2B - Technology2,000+ clients, 180,000 Publishers

12 ESTABLISHED MEDIA BRANDS 4 DIGITAL VERTICALS

✓ Women

✓ Decoration

✓ Leasure

✓ Men

LEADING PLATEFORM

TECHNOLOGY INTEGRATORS

DIGITALTRANSITION BIG DATA

Affiliation

Retargeting

Digital Marketing

Platforms

Reworld Media

MEDIA BRANDING

PRINT MEDIA

5

TURNKEY DIGITAL SOLUTION FOR ADVERTISERS

Established consumer brands

MEDIA PERFORMANCE

DIGITAL MEDIA TRADEDOUBLER

MEDIA BRANDING

ESTABLISHED BRANDS

DIGITAL ACTIVITY

RELEVANT DIGITAL TRAFFIC

INTEGRATED DIGITAL SOLUTIONS

PUBLISHERS

BIG DATA

DIGITAL PLATFORM & TECHNOLOGIES

Digital user behaviour expertise

Digital audience

DIRECT RELATIONSHIP

CONTENT

Reworld Media

INTERNATIONAL PRESENCE

6 Reworld Media

H1 2017 Turnover:42% France15% United Kingdom14% Scandinavia10% Italy et Spain

8% Germany

12 international implementations in 11 countriesFrance, United Kingdom, Germany, Spain, Italy, Poland, Netherlands, Sweden, Switzerland, Brazil and Singapore

69 countries covered

Reworld Media

MONDADORI

TIMES INC

TRINITY MIRROR

MEREDITH

LAGARDERE

VIVENDI

WELL POSITIONED IN THE DIGITAL MEDIA LANDSCAPE

Conte

nt

pro

ducti

on

Digital (as % of total Revenue)0%

100%

100%

£

€

$

€

$

€

DENTSU

WPP

HAVAS

PUBLICIS

JPY

€

€

£

AXEL SPRINGER

SCHIBSTED

FUTURE PUBLISHING

TIME OUT

€

€

REWORLD MEDIA

SEK

£

£

CRITEO

ADUX

RUBICON PROJECT

FYBER

GOOGLE

FACEBOOK

MILLES MERCI

€

€ $

$

€€

$

TRADITIONAL MEDIA GROUPS

MEDIA AGENCIES

GROUPS (RE)INVENTING MEDIA

DIGITAL TECH

Reworld Media

€3m cost cuttingWebsite makeover

STRONG TRACK RECORD IN RESTRUCTURING & DIGITALISATION OF

UNDERPERFORMING MEDIA ASSETS

Print-only

#2 digital Automotive brand in France

Traffic x4.5 in the last 18 months

= 2016 EBIT +0,5M€

MEDIA BRANDING

PRINT MEDIA DIGITAL MEDIA

MEDIA BRANDING

• 100% print magazine/no

digital footprint

• Loss making

Acquisition from

at negative value

STABLE magazine circulation

PROFITABLE print business

+

• No digital monetisation

• Limited visibility outside France

Acquisition from For a symbolic €1 +

Brand repositioning

Asian market expansion

NEW magazine formula

PROFITABLE print business#1 audience in Singapore *

+39% audience in France in June 2017 **

* Women media, June 2016 ** Médiamétrie Nielsen, June

= Profitable and growing internationally

Reworld Media

9th website in terms of unique visitors

9 Source : Médiamétrie Nielsen * Reference: FreeWheel network, 1st video network in France

9th

MEDIA BRANDING : ESTABLISHED MEDIA BRANDS OWNER

BEST AUDIENCE GROWTH amongst all French media groups

in H1 2017, +29% organically

18th media websites publisher in France

TOP 10 in France for online video inventory*

3rd automobile website in France

Top 5 in decoration/DIY

2nd player in audience on the AB+ Men target

+39% Audience in June

Top 10 Feminine websites

Reworld Media10

MEDIA BRANDING : STEADY GROWTH OF DIGITAL AUDIENCE

10M 800MUNIQUE VISITORS

June 2017AD CALLmonthly average

16MVISITSJune 2017

25MVIDEOS VIEWED

monthly average H1

60% MOBILE

6M ACTIVE OPT’INS CRM

Proforma numbers including Sporever in 2016 and 2017

Reworld Media11

MEDIA PERFORMANCE : TRADEDOUBLER, A MAJOR DIGITAL PLAYER

Leader for publishers’ marketing departments

2,000+Clients

180,000Affiliated websites

41 million 2016 realised sales

€64.6MH1 2017 turnover

INCREASE IN SALES OR LEAD GENERATION : AFFILIATIONTD CONVERT – Allows advertisers to access an international network of publishers to grow their sales

INTERNAL MANAGEMENT OF DIGITAL MARKETING PROGRAMS: TECHNOLOGYTD CONNECT - Platform allowing clients to manage their digital marketing program internally

TARGETING OF EXISTING CLIENTS AND NEW CLIENTS : RETARGETINGTD ENGAGE – Use of big data in behavioural internet user to target customers with relevant adverts for advertisers

PR

OD

UC

T O

FFER

ING

____

____

____

____

____

____

____

__

Reworld Media12 Digital Branding : digital and diversification

Chiffre d’affaires par activité

et variations S1 2017 vs S1 2016

• Consolidated turnover in H1 2017: €95.2M

• GROWTH: +23.2%

Consolidation of Tradedoubler over 6 months

Organic growth in digital generated by Media Branding

• DIGITAL driving 3/4 OF GROUP REVENUE GROWTH

Digital turnover growing fast : +37%

• INTERNATIONAL presence strenghthened

57% of turnover generated OUTSIDE FRANCE

INCREASINGLY IN THE BIG LEAGUE

30th June 2016 30th June 2017

Turnover by activity & changes

H1 2017 vs H1 2016

Reworld Media13 Digital Branding : digital and diversification

STRONG PROFITABILITY GROWTH

• EBITDA H1 2017 : multiplied by 3 at €3.1M

Profitability stabilised in Print

Strong growth of digital activities profitability

• Digital business EBITDA : €2.2M

Media Branding : EBITDA at €1.1M, up €0.9M with an EBITDA margin at 17%

Media Performance : EBITDA at €1.1M, up €1.1M

H1 2017 vs H1 2016 EBITDADigital EBITDA

H1 2017 vs H1 2016

Reworld Media14 Digital Branding : digital and diversification

25,4 23,9

4,8 6,6

0

18

35

H1 2016 H1 2017

Millions

€

Turnover Breakdown and Variations H1 2016 vs. H1 2017

Print Digital

+38%

€30.2M €30.6M

-6%

+1%

25,6 25,4 25,5 23,9

4,4 4,8 5,5 6,6

0

10

20

30

H2 2015 H1 2016 H2 2016 H1 2017

Millions

€

Half-Year Turnover comparison 2015, 2016 and 2017

Print Digital

+22% +9% +15%

X 1,5

+20%

• Media Branding Turnover H1 2017 : €30.6M, relatively stable compared to H1 2016

• Very strong Digital revenue growth : +38% (H1 2017 vs. H1 2016) at €6.6M

• Drop in Print revenues (-6%) linked to the termination of Pariscope in 2016 – STABLE REVENUE ON A LIKE-

FOR-LIKE BASIS, despite the decline in the print market

MEDIA BRANDING : DIGITAL GROWTH MORE THAN OFFSETTING

DECLINE IN PRINT

Reworld Media

Digital Branding : digital et diversification

15

MEDIA BRANDING : SUSTAINED PROFITABILITY GROWTH

• Media Branding EBITDA H1 2017 : €2M, up +€0.9M, profitability x2.2

Digital Branding EBITDA growing continuously : €1.1M

Print EBITDA stable at €0.9M vs. H1 2016 despite sales decline

Stable and solid profitability growth validating the Group’s strategy

0,9 0,9

0,2

1,11,1

2,0

0

1

3

H1 2016 H1 2017

Millions

€

EBITDA Breakdown and variations H1 2016 / H1 2017

Print Digital Total

1,5

0,91,3

0,9

-0,9

0,2 0,3

1,1

0,6

1,1

1,62,0

-1

-1

0

1

1

2

3

H2 2015 H1 2016 H2 2016 S1 2017

Millions

€

EBITDA Half-Year variations, 2015, 2016 and 2017

Reworld Media16Proforma / Tradedoubler full year

SOLID RESULTS despite a declining turnover – IN LINE with expectations following the 2016 restructuration plan :

H1 2017 EBITDA : > €1M with a stable gross margin at 21.9%

Proforma turnover: declining by 10% due to strategic decisions in 2016 (closure of non-profitable programs) and

loss of UK clients in 2017

MEDIA PERFORMANCE : TRADEDEOUBLER RESTRUCTURING PAYING OFF

-0,9

-0,6

1,7

1.1

-1

-1

0

1

1

2

H2 2015 H1 2016 H2 2016 H1 2017

Millions

€

Half-year EBITDA variations, 2015/2016/2017

Reworld Media17

HEALTHY BALANCE SHEET

• Solid Share Capital : €19.4M

• Other Shareholders’s Funds:

€1.1M Convertible Bonds, partially converted in

2017. The balance will be converted at following

capital increases

• Gross Cash: €18.5M

• Financial Debt: €24.4M

€13.7M bonds (Tradedoubler AB)

€10.4M bank debt (Reworld Media)

• NET FINANCIAL POSITION: €-5.9M

Reduction linked to the termination of prepayment

terms for certain Tradedoubler clients

(in €m) Jun-2017 Dec-2016

Share Capital – Group Share 18.3 7.7

Other Shareholders’ Funds 1.1 2.6

Share capital & other shareholders’

funds 19.4 10.3

(in €m) Jun-2017 Dec-2016

Gross Cash 18.5 28.6

Financial Debt 24.4 27.9

Net Financial Position -5.9 0.8

Reworld Media18

MEDIA BRANDING

GROW DIGITAL SALES & PROFITABILITY

Strong digital revenues growth…

1. Sustained investments in video contents and

monetization

2. Increased monetisation of rising audience

1. Increased monetization of proprietary data

(databases, cookies, etc)

… with a streamlined cost structure

FOCUS ON PROFITABLE GROWTH

MEDIA PERFORMANCE

FURTHER IMPROVE PROFITABILITY

Commercial strategy focusing on HIGH MARGIN

PROGRAMS

Continuous investment in its technology

platform

Strengthening of the international footprint

(Asia)

CONSTANT OPTIMISATION of organization

Reworld Media continues to successfully applya FOCUSED GROWTH STRATEGY with

an OPPORTUNISTIC APPROACH to acquisitions

Reworld Media © Copyright by Reworld Media | All Rights Reserved

REWORLD MEDIAINFLUENCE | ENGAGE | AMPLIFY

THANK YOU

Q&A____

19