2011 Capital Markets Day

Introduction and Investment Highlights

Anton KudryashovChief Executive OfficerChief Executive Officer

Today’s SpeakersToday’s Speakers

Ruslan TagievPeter Aven Mikhail Nazarov Sergey Veselov Ruslan TagievCEO of TNS Russia

Peter AvenPresident of Alfa-Bank

Mikhail NazarovDeputy General Manager of Analytical Center Video International

Sergey VeselovResearch Director of Analytical Center Video International

Slava Murugov Chief Content Officer

Boris PodolskyChief Financial

Yulia Moskvitina Chief Commercial

Anton KudryashovChief Executive

Anna-Maria TrenevaHead of DigitalChief Content Officer Chief Financial

Officer Chief Commercial Officer

Chief Executive Officer

Head of Digital Products

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Introduction and Investment Highlights Anton Kudryashov Chief Executive Officer

Today’s AgendaToday’s Agenda

Introduction and Investment Highlights Anton Kudryashov Chief Executive Officer Russian Growth: Structural Constraints Hinder Recovery

Peter Aven President of Alfa-Bank

Russian Advertising Media Market Overview Mikhail Nazarov Deputy General Manager

Sergey Veselov

p y gof Analytical Center Video International

Research Director of Analytical Center Video International

Key Growth Drivers Anton Kudryashov Chief Executive Officery Chief Executive Officer Session Wrap-up Anton Kudryashov Chief Executive Officer Coffee break (11:00am – 11:30am)

Channel Positioning and Content Strategy Slava Murugov Chief Content Officer & Head of CTC Channel

TV Audience Measurement in Russia Ruslan Tagiev CEO of TNS RussiaNew Advertising Sales Structure Yulia Moskvitina Chief Commercial OfficerSession Wrap up Anton Kudryashov Chi f E ti OffiSession Wrap-up Anton Kudryashov Chief Executive Officer Lunch (1:15pm - 2:45pm)

New Media Initiatives Anna-Maria Treneva Head of Digital ProductsDelivering Shareholder Value Boris Podolsky Chief Financial OfficerDelivering Shareholder Value Boris Podolsky Chief Financial OfficerSession Wrap-up Anton Kudryashov Chief Executive Officer Summary & Concluding Remarks Anton Kudryashov Chief Executive OfficerDinner at the Billiard Room at the Sanderson Hotel (reception starts at 7:00pm)Dinner at the Billiard Room at the Sanderson Hotel (reception starts at 7:00pm)

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From Private TV Network to Vertically Integrated Public Media Company From Private TV Network to Vertically Integrated Public Media Company

CTC Media was fo nded as Stor First

Launch of CTC Network Launch of Domashny

Net ork

Acquisition of the DTV group

Acquisition of Channel 31 in

Launch of CTC-international in

Israel

Establishment offounded as StoryFirst Communications

First Russian TV series commissioned by CTC started airing

Network Channel 31 in Kazakhstan

CTC Media enters Moldova free-to-air

TV market

Establishment of CTC Media’s

internal advertising sales house

‘Everest Sales’

f

Alfa Group became a shareholder of CTC

Media

Acquisition of Costafilm and Soho Media production

companies

Launch of ‘Videomore’ online

social television network

1989 1994 1996 1999 2002 2003 2004 2005 2006 2008 2009 2010 2011

TV broadcasting in Russia began

Modern Times Group became a

Changed name to CTC Media

Initial Public Offering

on NASDAQLaunch of CTC-

international in USALaunch of CTC-international in g Group became a

shareholder of CTC Media

on NASDAQ international in USAGermany

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A Leading Independent Media Company in Russia and the CISA Leading Independent Media Company in Russia and the CIS

FREE-TO-AIR (RUSSIA)

CTC – target audience All 6-54

Domashny – target audience Women 25-60

FREE TO AIRChannel 31KAZAKHSTAN

DTV – target audience All 25-54

FREE-TO-AIR (CIS)

CTC TV Dixi channelMOLDOVA

CONTENT PRODUCTION

SOHO MEDIA

COSTAFILM In-house and third party content production

CTC-INTERNATIONAL

(PAY-TV)International version of CTC channel

NEW MEDIA Social TV Network

AD SALES Internal advertising sales house Everestg

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Benefiting from the Network Model in RussiaBenefiting from the Network Model in Russia

Time Shifted+4h,+7h

Time Shifted+0h,+2h

Two satellites covering all 9 time zones

Network CTC Network: about 100 mln viewers; 50Signal Uplink CTC Network: about 100 mln viewers; 50 owned and operated stations and unmanned repeaters

Domashny Network: about 68 mln viewers; 38 owned and operated station sand unmanned

DTV Network: about 60 mln viewers; 32 owned and operated stations and unmanned

Network75% Ad Time

Network contributes programming and branding

owned and operated station sand unmanned repeaters repeaters

Affiliate25% Ad Time

About 2,000 independent affiliates contribute TV broadcasting and promotion in their territory

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Strong Track Record of Market Outperformance and High ProfitabilityStrong Track Record of Market Outperformance and High Profitability

Billion Rub

16.0 15.918.3

161820

Billion Rub

10.112.1

10121416

4.56.7

2 94.7 5.6

7.0 6.6 6.7

468

10

2.0 2.9

024

2004 2005 2006 2007 2008 2009 2010

Revenues OIBDA**Note: (*) CAGR 2004-2010, all dynamics are provided in Rub terms

(**) E l di i it(**) Excluding non-recurring items

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Key Investment HighlightsKey Investment Highlights

The largest independent and the only public broadcaster in Russia

Unique play on large and fast growing Russian advertising market

Targeting audiences which are most attractive to advertisers

Control of the whole value chain due to vertical integration into content production, distribution and advertising sales

Superior profitability and strong cash flow generation

Proven management track record and supportive shareholders

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