#1HIIHT HIIHT HT MEDIA LIMITED Investor Presentation 1#2Cautionary Statements Certain statements in this presentation may be forward-looking statements. Such forward looking statements are subject to risks and uncertainties like regulatory changes, local political and economic developments, technological risks and many other factors that could cause our actual results to differ materially from those contained in the relevant forward-looking statements. HT Media Group will not, in any way, be responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances. Disclaimer: All external data used in the report have been taken from publicly available sources and discrepancies, if any, are incidental and unintentional. HIIHT 2#3HIIHT Industry 3#4HIIHT US 21 US 5 0.9% 11 εε 29 20 0.7% 0.8% Canada Australia Brazil 29 Growth Potential of Media & Entertainment (M&E) Industry in India Ad spend (% of GDP) 0.7% 0.8% 0.4% 0.5% 0.7% UK Italy France Germany Japan China India Print cover price (PPP USD per month) Canada Australia Brazil UK Italy France Germany Japan China India Source: BCG-CII report, 2015 Huge scope in India backed by low penetration of advertising coupled with lower cover price and higher GDP growth forecast 25 4 20 9 9 0.9% 0.4% 0.3%#5CY 30 Growth of M&E Industry in India: 2011 ~ 2021 Advertising revenue (Rs '000 Cr) Print ad revenue (Rs '000 Cr) CAGR 12.0% CAGR 15.3% CAGR 7.6% CAGR 8.0% 108 93 80 I 69 160 53 47 30 28 25 23 1 22 20 19 18 16 14 15 41 36 33 2011 2012 2013 2014 2015 2016 2017P 2018P 2019P 2020P 2021P CY 2011 Source: KPMG India - FICCI, Indian Media and Entertainment Industry Report, 2017 The growth trajectory of M&E is set to accelerate with print forming 27% of the advertising pie HIIHT 5 2012 2013 2014 2015 2016 2017P 2018P 2019P 2020P 2021P#6Radio Radio and Digital Ad Revenue Growth Projections: 2016 - 2021 Digital Lowered Internet usage costs leading to more frequent consumption + Developing digital infrastructure Operationalization of new stations in existing and new cities + Introduction of new genres Digital Ad revenue (Rs '000 Cr) CAGR 31% 8 CY 2016 2 CY2016 29 CY 2021P Radio Ad revenue (Rs '000 Cr) CAGR 16% Source: KPMG India - FICCI, Indian Media and Entertainment Industry Report, 2017 Exponential growth expected in Radio and Digital HIIHT 5 CY 2021P 6#7Current Environment and Trends Recent Macros Reforms *Source: Bloomberg, BSE HIIHT GDP softened in FY'17 to 7.1% after increasing continuously for 2 years CPI inflation on a downward trajectory from double digits in FY'14 to low single digit Gradual decline in interest rates over past 5 years Sensex on upward trajectory from ~18k to 31k over last 5 years Demonetization GST (Goods & Service Tax) RERA • Creation of Monetary Policy committee Implementation of Insolvency and Bankruptcy code Despite recent hiccups, M&E industry still poised for long term growth Government reforms in the longer term expected to boost the growth Lower Interest rate and lower inflation expected to continue Favourable demographics favouring higher consumption GST beneficial for long term Expectations that suppressed spends on advertising in recent times will release in a big way going forward Strong rupee helps maintaining lower input cost 7#8Overview of HT Media Group HIIHT 80#9The HT Story - Enriching and Empowering India 1924 hindustantimes inaugurated by Mahatma Gandhi 1960 2000 5 new editions launched with localization focus कादम्बिनी Literary magazine launched 1936 feggedal Hindi daily launched 2005 HT Mumbai launched 2007 mint 2010 Business newspaper STUDY launched along with livemint.com and hindustantimes.com mate helps sharpen minds 1964 नंदन Children's magazine launched 2004 HT Media Ltd listed 2006 Fever 104 REAL FM Entry into Radio business foray into education business; feggedal HMVL IPO 2015 Radio license acquisition in phase 3 spectrum auction 2013 BRIDGE School of Management Management 2008 school shine. desimartiniu Job and social networking portals launched launched Our evolution is marked by building lasting and trustworthy businesses in print, radio, digital and education sectors HIIHT 6#10Strong Brand Portfolio across Segments *ntcampus.com desimartini shine. it's your future start right Let's talk movies Better careers for better people ht mobile solutions hindustantimes.com Fever ENTERTAINMENT live mint हिन्दुस्तान 107.2 '୬ Fever 104 english mate FM BETTER ENGLISH SMARTER YOU retro music Content Radio Mobile Internet Digital Others hindustantimes हिन्दुस्तान mint Dailies Print Events mint LUXURY CONFERENCE Progredior शिखर समागम Focus Youth Magazines Weeklies hindustantimes FRIDAY JAM Hindustan Kala Ghoda Arts Festival 4-13 Tubmany 2017 htcity htcafé htestates हिन्दस्तान जॉब्स hteducation भूवी मैजिक Stoltzat BRUNCH नंदन mint LOUNGE कादम्बिनी mintasia hindustantimes LEADERSHIP SUMMIT THE CHANGE INDIA NEEDS hindustantim NO TV DAY ht GIFA mint hindustantimes Most Stylish 2016 gy SEASONS EmTech INDIA Education BRIDGE School of Management STUDY mate helps sharpen minds HIIHT Pan-India content distribution footprint across traditional and new age channels 10#11Large Consumer Base 4.5mn in India hindustantimes mint 304k in India 2.3mn in Delhi NCR 250k exclusive readers 1.4mn in Mumbai Print readership 100mn hindustantimes.com 50mn हिन्दुस्तान 32mn mint 33mn desimartini Let's tak movies 1 อßed je!!0 Radio feggeala 14.7mn in India 8.1mn in UP & Uttarakhand 4.4mn in Bihar 1.3mn in Jharkhand Fever TWE 104 FM 18mn 'A 8.5mn RADIO 107.2 TAHA retro music ka Source: IRS 2014, Google Analytics (March 2017), RAM data (Mar 2017) for 4 metros and estimates for 2 metros, radio listenership is excluding UP HIIHT 11#12Financial Performance: Consistent Track Record Consolidated Revenue (Rs Cr) CAGR 10% 1,810 2,076 2,142 2,363 2,457 2,658 2,682 1,076 1,247 1,380 1,454 FY'07 FY'08 FY'09 FY'10 FY'11 FY'12 FY'13 FY'14 FY'15 FY'16 FY'17 Consolidated EBITDA (Rs Cr) CAGR 10% 528 475 479 422 366 362 376 289 205 214 102 FY'07 FY'08 FY'09 FY'10 FY'11 FY'12 FY'13 FY'14 FY'15 FY'16 FY'17 Note: All figures are reported consolidated financials for HT Media Ltd HIIHT 12#13Key Focus: Operational Excellence to Improve Profitability Total Cost Productivity • Activity Based Evaluation • Identification of Cost levers • Process Efficiencies • Cost savings on Sustainable basis Zero Based Budgeting • Costs and revenue revisited ab intio • Challenge all existing KPI's HIIHT Yield • Close monitoring • Mix management • Maximise returns on limited inventory Cost Restructuring Complete revamp of cost. structure across expense heads • Achievement of the optimal mix Operating margin improved by 2.1% from FY'13 (17.6%) to FY'17 (19.7%) We have delivered margin expansion on the back of continued focus on cost and yield 13#14Prudent Allocation of Capital Key Investments in Recent Past Integrated Newsroom & Content Management System (CMS) Capacity and quality enhancement across Hindi markets. Continued outlay on investment behind copies into relevant markets Investment in digital assets. • Deepening reach in Radio markets through fresh licences Convert profitable growth to cash efficiently and prudent allocation of capital to drive shareholder returns HIIHT 14#15HIIHT Our Businesses 15#16Our Businesses Hindi feggeala Business mint 1 Print English hindustantimes | #2 newspaper daily of 2 15 FM radio Radio ever 104 #1 in Delhi for 107.2 RADIO #2 retro music ka stations India in all across India 350+ weeks in Delhi # * segments 3 Job Digital 4 portal Digital Marketing News websites 215 MN pageviews@ Education tutorials Management School Movie review Education 6500+ Students associated with us Average Issue Readership (IRS 2014) RAM data, 2017 # RAM data, Week 14,2017 @Google Analytics, Mar 2017 ІІНТ 16#171 Market Leadership across Brands hindustantimes 2 feggedla hindustantimes 2 53% of Punjab competition hindustantimes 120% ahead of competition feggeala 1 2 3 Largest in Delhi 2nd largest in India's no.1 Mumbai Trusted Uttarakhand NCR Punjab & Media Chandigarh 2 83% of leader Brand* Delhi Mumbai 2 hindustantimes 67% of leader Uttar Pradesh Bihar Jharkhand 1 No.1 in Gangetic Belt feggedal 1 46% ahead of competition feggedla 120% ahead of Old markets New markets competition Chandigarh feggedla 2 No.1 in Bihar and Jharkhand mint 3 India's no. 1 Trusted Media Brand* 1 2 3 51% 250k Ranked no.1 Readership Exclusive Media Brand# from nccs al Readers Source of readership: IRS 2014, * Brand Trust Report India Story 2017, A study by TRA Research # Brand-o-meter Survey, pitch Leadership position is an enabler for yield led growth HIIHT 17#181 Print: Focused Segment Specific Strategy hindustantimes ✓ Maintain copy leadership Higher wallet share in key markets ✓ Continued superiority on product offerings > Customized customer centric solutions ✓ Stature building through large brand initiatives and salience feggeala ✓ Focused deployment of copies to expand and consolidate footprint Persistent investment in copies in UP ✓ Leveraging the #1 position in Bihar and Jharkhand ☑ Product excellence to drive differentiation mint Unique product proposition leading to strong loyalty with readers ✓ Niche product segmentation targeting higher yield from customers ✓ Redesigned to broadsheet to gain better revenue #1 in North #2 in Mumbai #1 in South #1 in East ✓ neINDIA Pan India presence through OneIndia alliance Overall readership is 1.5x of next largest competitor Dominant readership across critical demographics: NCCA AB and youth hindustantimes regedit |The Telegraph || THE HINDU SLABĹU Source of readership: IRS 2014 HIIHT 18#192 Radio: Expanding Reach and Listenership CAGR 19.3% > 159 117 93 99 78 FY'13 FY'14 FY'15 FY'16 FY'17 Revenue (Rs Cr) 10.3% margin expansion 36.1% 26.3% 24.7% 25.1% 14.8% FY'13 FY'14 FY'15 FY'16 FY'17 ■EBITDA Margin (%) Source: RAM data (Mar 2017) for 4 metros and estimates for 2 metros HIIHT • رد Fever IT'S ALL ABOUT TH 104 FM MUSIC 18mn Listeners in 6 Metros • Leader in Delhi, Mumbai and Kolkata RADIO 8.5mn listeners in Delhi and Mumbai First 'Cool Retro' Station of India with music from 70-90s 19#203 Digital: Growing Rapidly across Media Content and Internet 76 54 CAGR 30% 140 151 104 FY'13 FY'14 FY'15 FY'16 FY'17 Revenue (Rs Cr) Media Content hindustantimes.com live mint Progealla desimartini HIIHT Let's talk movies! Internet Shine is 2nd largest Job Portal in India shine! • 22mn candidates Digital Quotient Social & Mobile marketing solutions 20 20#21Priorities Going Forward Print Improve leadership position in core markets • Better monetisation of copies; yield led revenue growth • Maintain cost focus to improve profitability Radio • Drive profitable growth of newly launched radio stations • To outperform the industry on the back of innovation, execution, strong brand pull, quality content and great music Other businesses • Continue to strengthen digital capabilities and aim to grow revenue in this space in a profitable manner Build education business to scale while maintaining operational profitability HIIHT Drive profitable growth with focus on margin expansion to create stakeholder value 21#22HIIHT Thank You 22