Modern Times Group MTG ABNasdaq OMX Stockholm : MTGA, MTGB 1

2010 Capital Markets Day

Manfred Aronsson, Head of MTG Sweden

The New Game in Town

Modern Times Group MTG ABNasdaq OMX Stockholm : MTGA, MTGB 2

Swedish TV viewers English football = True (since 1969)

Modern Times Group MTG ABNasdaq OMX Stockholm : MTGA, MTGB 3

Why acquire Premier League ?

• Why it makes strategic sense to our platform

• Why PL complements Viasat other rights and will be a greater viewing experience

• Why pre-requisites to market and sell Viasat with PL are better than ever

• Why it makes financial sense

4 perspectives:

Modern Times Group MTG ABNasdaq OMX Stockholm : MTGA, MTGB 4

Major strategic changes 2008

DTH “channel swap”…

Modern Times Group MTG ABNasdaq OMX Stockholm : MTGA, MTGB 5

Major strategic changes 2008

…basic channels became commodity

Premium Sport Key differentiator

Modern Times Group MTG ABNasdaq OMX Stockholm : MTGA, MTGB 6

Action on premium content & brands

From generic sport channels…

Modern Times Group MTG ABNasdaq OMX Stockholm : MTGA, MTGB 7

Action on premium content & brands

...to clear premium channels !

Modern Times Group MTG ABNasdaq OMX Stockholm : MTGA, MTGB 8

Viasat Sport ‘make-over’ journey has paid off for the brand…

Do you consider Viasat Sport ?

52% higher than in 2008Do you prefer Viasat Sport ?

125% higher than in 2008

Consideration 2008-2010'Any Viasat Sports Channel' vs Canal+ Sport

0%10%20%30%40%50%60%

mar

-08

maj

-08

jul-0

8

sep-

08

nov-

08

jan-

09

mar

-09

maj

-09

jul-0

9

sep-

09

nov-

09

jan-

10

mar

-10

Viasat Sports Channel Canal+ Sport

Preference 2008-2010'Any Viasat Sports Channel' vs Canal+ Sport

0%5%

10%15%20%25%30%

mar

-08

maj

-08

jul-0

8

sep-

08

nov-

08

jan-

09

mar

-09

maj

-09

jul-0

9

sep-

09

nov-

09

jan-

10

mar

-10

Viasat Sports Channel Canal+ Sport

Modern Times Group MTG ABNasdaq OMX Stockholm : MTGA, MTGB 9

PL = great opportunity to add weekly premium product…

29 match days / season 115 10013 match weeks / season 38 30

Modern Times Group MTG ABNasdaq OMX Stockholm : MTGA, MTGB 10

• Survey included 1 500 respondents, statistically representing the Swedish digital TV population

• DTH, IPTV, DTT hhs

-

1 0 ,0

2 0 ,0

3 0 ,0

4 0 ,0

5 0 ,0

6 0 ,0

7 0 ,0

8 0 ,0

9 0 ,0

PremierLeague

Allsvenskan Superettan ItalianLeague

SpanishLeague

Measuring how strong a single right is to move a subscriber

PL vs. other national leagues – 3 times as strong as second best…

Modern Times Group MTG ABNasdaq OMX Stockholm : MTGA, MTGB 11

PL shifts the premium football balance to Viasat's favour

Modern Times Group MTG ABNasdaq OMX Stockholm : MTGA, MTGB 12

The right...and how we will use it

– Total exclusivity on all platforms (traditional broadcast, internet, mobile)

– License period 3 years, starting august 2010

– Match productions included in rights fee (including HD feeds of all matches)

Modern Times Group MTG ABNasdaq OMX Stockholm : MTGA, MTGB 13

Offerings per platform - price increase from 1st August

IP/CablePartners139 199sek

Viasat DTH

Viasat Fotboll

Viasat Sport

Viasat Sport HD

Viasat Premier League HD

Extra Channels 1-3

SD Package

250 games+HD Package

300 games+ Extra channels

380 games

EXTRA

HD

IP/Cable Partnerswith HD 139 199sek (HD +40sek)

Modern Times Group MTG ABNasdaq OMX Stockholm : MTGA, MTGB 14

DTH price increases between 11% – 20%

• Price increase 1st August communicated to subscribers

• Sport packages will increase more than movie packages

• Viasat Gold lower price increase than smaller packages

• 269sek 319sek (+19%)

• 349sek 389sek (+11%)

EXTRA

Modern Times Group MTG ABNasdaq OMX Stockholm : MTGA, MTGB 15

Modern Times Group MTG ABNasdaq OMX Stockholm : MTGA, MTGB 16

From “DTH/DTT puddle” to Virtual Operator and Viasat Gold sales access

Jun 2008 Oct 2009 Feb 2010 Mar 2010

S-VOD on internet

After analogueshut down 2007…

Modern Times Group MTG ABNasdaq OMX Stockholm : MTGA, MTGB 17

Why the PL acquisition makes financial sense

• PL will drive volumes

- pull sales - 550,000 C+ Sport subs with 50% hooked on PL

- push sales - Viasat sales access to 90% of all cable and 75% of all Swedish broadband homes

• PL will drive up ARPU and improve churn levels

- Prices up (eg. Viasat Premium Sport package in CATV: 5999139199sek)

- Accelerated HD uptake - New PL HD channel and double amount of HD matches

• Reasonable acquisition terms secured

- P&L amortisation on almost linear basis over 3 year contract period

- Short term Q3 and Q4 margin pressure BUT FY 2010 Nordic margin only slightly down as previously indicated

Modern Times Group MTG ABNasdaq OMX Stockholm : MTGA, MTGB 18

Summary – Why Premier League ?

• Great opportunity to further strengthen premium sport differentiation of Viasat and Viasat Fotboll

• Rights enable us to offer best ever TV coverage of Premier League - “closer to and more of” concept”

• Current sales access & virtual operator status enables maximum sales exploitation and volume growth

• Favourable conditions to enhance Viasat business performance with Premier League rights

Modern Times Group MTG ABNasdaq OMX Stockholm : MTGA, MTGB 19

Timing for acquisition of PL rights is perfect !

Modern Times Group MTG ABNasdaq OMX Stockholm : MTGA, MTGB 20

2010 Capital Markets Day

Manfred Aronsson, Head of MTG Sweden

The New Game in Town