RESULTS PRESENTATION 9 MAY 2013 Disclaimer This presentation - PowerPoint PPT Presentation

1Q13 RESULTS PRESENTATION 9 MAY 2013

Disclaimer This presentation contains forward looking information, including statements which constitute forward looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These statements are based on the current beliefs and assumptions of our management and on information available to management only as of the date such statements were made. Forward-looking statements include (a) information concerning strategy, possible or assumed future results of our operations, earnings, industry conditions, demand and pricing for our products and other aspects of our business, possible or future payment of dividends and share buy back program; and (b) statements that are preceded by, followed by or include the words “ believes ” , “ expects ” , “ anticipates ” , “ intends ” , “ is confident ” , “ plans ” , “ estimates ” , “ may ” , “ might ” , “ could ” , “ would ” , and the negatives of such terms or similar expressions. These statements are not guarantees of future performance and are subject to factors, risks and uncertainties that could cause the assumptions and beliefs upon which the forwarding looking statements were based to substantially differ from the expectation predicted herein. These factors, risks and uncertainties include, but are not limited to, changes in demand for the company ’ s services, technological changes, the effects of competition, telecommunications sector conditions, changes in regulation and economic conditions. Further, certain forward looking statements are based upon assumptions as to future events that may not prove to be accurate. Therefore, actual outcomes and results may differ materially from the plans, strategy, objectives, expectations, estimates and intentions expressed or implied in such forward-looking statements. Additionally, some of these statements refer to board proposals to be submitted to ZON - Multimédia – Serviços de Telecomunicações e Multimédia, SGPS, S.A. ( “ Multimedia ” or “ ZON ” ) AGM and subject to (i) its approval by Multimedia ’ s shareholders, (ii) the market conditions and (iii) the ZON ’ s financial and accounting position as revealed in the financial statements approved by Multimedia ’ s AGM. Forward-looking statements speak only as of the date they are made, and we do not undertake any obligation to update them in light of new information or future developments or to provide reasons why actual results may differ. You are cautioned not to place undue reliance on any forward-looking statements. ZON Multimedia is exempt from filing periodic reports with the United States Securities and Exchange Commission ( “ SEC ” ) pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934, as amended. The SEC file number for PT Multimedia ’ s exemption is No. 82-5059. Under this exemption, ZON Multimedia is required to post on its website English language translations, versions or summaries of certain information that it has made or is required to make public in Portugal, has filed or is required to file with the regulated market Eurolist by Euronext Lisbon or has distributed or is required to distribute to its security holders. This presentation is not an offer to sell or a solicitation of an offer to buy any securities.

1Q13 Highlights  Record Take up of IRIS, with net adds of 50 thousand in 1Q13, reaching 285 thousand subs  IRIS voted the best TV product of the year by consumers and Timewarp the best new TV product in terms of marketing and innovation  ZON voted the best TV, Broadband and Fixed Voice provider by ECSI (European Customer Satisfaction Index)  Strengthened position in Business segment with major new corporate accounts being signed up  Sequential growth in quarterly revenues of core Pay TV, BB and Voice business, +0.9% over the previous quarter  Highest ever quarterly EBITDA and EBITDA-CAPEX  African JV posting very strong growth with revenues in 1Q13 up 56% yoy 3

1Q13 Operating Review

Record net-adds in IRIS, 65% Triple Play penetration Triple Play Customers and Penetration of Cable IRIS customers and Penetration of Triple Play Base [Thousands, %] Customer Base [Thousands, %] Net Adds +9.2% [Thousands] +7.5% 28.3 17.9 18.8 32.1 21.9 42.6 31.4 41.8 49.6 31 5 % 55 284.4 781.5 715.7 15 0% 80 0 26 5 234.8 666.0 45 % 70 64.6% 13 0% 193.0 21 5 36% 60 0 35 % 59.4% 161.5 11 0% 30% 50 0 16 5 26% 118.9 % 25 90 % 40 0 22% 97.0 57.6% 5 11 30 0 17% 28.3 46.2 65.0 70 % 15 % 14% 20 65 9% 50 % 7% 10 0 4% 5% 15 00 30 % 1Q11 1Q12 1Q13 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 35 - 5% -  50 thousand IRIS net-adds in 1Q13, the best quarter since launch. IRIS customers now represent 36% of the Triple Play base  781.5 thousand Triple Play customers, up 9.2% yoy representing 64.6% of cable customers 5

An award winning interface and service – the best Triple Play offer and most satisfied customers  ECSI (European Customer Satisfaction Index) : ZON #1 in customer satisfaction in all 3 services – Pay TV, BB and Voice  Consumers voted IRIS the best Triple Play service of the year and Timewarp the best new TV product in terms of innovation and marketing  TV Connect Industry awards – ZON Online voted the best TV on the move service 6

Continuously innovating with the launch of the best content and most relevant features  Launch of new smartphone APP that automatically identifies available ZON@FON hotspots with simplified login process  ZON customers can access, for free, over 500 thousand WiFi hotspots in Portugal and 7 million around the world  Launch of new channels, some of which exclusive to ZON:  Globo (brazilian series and movies, general entertainment) *  +TVI (national/TVI produced content) *  Disney Junior  Canal Q (portuguese comedy) 7 * Exclusive

Growth in Corporate and SME  Technical offer and commercial team have been strengthened  Tendering for relevant contracts in Public and Corporate sectors  Differentiated, integrated services at very competitive costs  Leveraging capillarity and sophistication of ZON’s Next Generation Network  In 1Q13 an important contract to provide fixed communications to a large retail bank in Portugal was won 8

Growing in Broadband and Fixed Voice Broadband Subscribers Fixed Voice Subscribers [Thousands, % of Penetration of Cable Base] [Thousands; % of Penetration of Cable Base] 799.9 985.8 70 % 85 % 921.4 748.6 1, 00 0 80 0 704.7 80 % 65 % 807.5 66.2% 79.9% 75 % 70 0 60 % 0 80 62.1% 61.0% 74.9% 70 % 55 % 60 0 0 60 68.2% 65 % 50 % 50 0 60 % 0 40 45 % 55 % 40 0 40 % 50 % 20 0 30 0 35 % 45 % 20 0 30 % 00 40 % 1Q11 1Q12 1Q13 1Q11 1Q12 1Q13  Broadband net adds of 10 thousand,  Fixed Voice net adds of 9.4 thousand, bringing the total customer base to 800 bringing the total customer base to 986 thousand thousand  66.2% penetration of cable base  79.9% penetration of cable customer base  63% subscribe offers greater than 20 9 Mbps and 45% higher or equal to 30 Mbps

Sequential improvement in ARPU Basic, Premium and Blended ARPU [1Q12 = Base 1]  Basic ARPU from core Pay TV, BB and Voice services increased 1.3% yoy and 1.10 by 3.4% in comparison with the previous 1.05 +1.3% quarter 1.00 -0.4% 0.95  Adjusting for the impact of entry level -10.6% 0.90 offers, basic ARPU would have grown by 0.85 2.9% yoy 0.80 1Q12 2Q12 3Q12 4Q12 1Q13  Premium channel subscriptions, primarily Blended ARPU Basic ARPU Premium ARPU sports, still weighing negatively on ARPU  Positive impact of price increase in 1Q13 10

Cinema Exhibition: a tough market, ZON performing better than sector in terms of revenues Cinema tickets sold and revenue per ticket 1Q13 Performance of Gross Revenues and Attendance [Thousands, Euros] [%] 30 00 07 2,383 3.5% 07 25 00 1,992 06 1,784 1,725 1,714 20 00 -0.7% 06 15 00 05 4.9 4.9 05 4.8 4.7 10 00 4.6 -8.9% 04 -10.8% 50 0 04 0 03 1Q12 2Q12 3Q12 4Q12 1Q13 Gross Revenue Attendance ZON Market Tickets Sold Avg. Revenue Per Ticket  Ticket sales increased yoy by 3.5% although average revenue per ticket fell -4.1% in 1Q13 mainly due to lower mix of 3D movies and less bar sales  Cinema Exhibition gross revenues were down 0.7% in 1Q13, with the market as a whole declining by 10.8% yoy 11 Source: ZON, ICA

ZON Audiovisuais: Reinforcing leadership in Cinema Distribution Cinema Gross Revenues by Distributor - Market Share 1Q13 [%]  Audiovisuals revenues remained stable Others and ZON maintained leading position 9.0% Big Picture 2  ZON distributed 4 of the Top 10 movies 22.8% shown in cinemas in Portugal in 1Q13 ZON 55.8%  55.8% market share of cinema distribution gross revenues in 1Q13 Columbia 12.4% 12 12 Source: ZON, ICA

ZAP – Strong performance  ZAP continues to post a very positive performance in terms of customer growth  Ranks as one of the leading brands in Angola: #4  Increased distribution network:  Present in 10 of the largest Angolan provinces  Almost 1,000 distribution agents  200 door-to-door sales people  New channels launched: Bola TV, +TVI, ZAP Viva and Fight Network 13

1Q13 Financial Performance