Investor Day Presentation

INVESTOR DAY - H hachette LIVRE PRESENTATION THE DIGITAL TRADE MARKET GROWTH RATES DIFFER BY COUNTRY Lagardère Hachette Livre has been instrumental in the transformation of the industry in the USA PUBLISHING eBook market development per country (in % of Trade sales in value - publisher price) -UK -USA --France ■■■22%* 21% 22% 17% 16% 7% 8% 2% 2% ~1.5%* YO Y1 Y2 Y3 Y4 Y5 Y6 US 2007 UK 2009 FR 2011 Year 0 for eBook market ☐ Entry of Amazon in 2007 with a high-discount policy on ebook prices Business model converted to agency contract in 2009 after Apple's entry Very rapid growth in the USA in 2009-2013 fueled by retailer competition, installed basis of devices and depth of catalogs Even stronger growth in the UK which reached in 3 years the same penetration rate as the USA in 4 years France: digital market taking-off slowly US reaching a « plateau » and UK experiencing less important growth than in previous years as stated by initial 2013 market estimates Hachette Livre was the N° 2 Digital Publisher in the US market in 2013 * Estimates Sources: GfK, SNE, Bookstats, The Publishers Association, Hachette analysis 18

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