2012 Results

CTC Media, Inc.

Investor Presentation

A Leading Independent Broadcaster in Russia

From Private TV Network to Public Media Holding

2

1989 1994 2002 2005 2006 2008 2009 2010 2011 2012

CTC Media was founded as Story First Communications

Launch of CTC Network

Modern Times Group became a shareholder of CTC Media

Launch of Domashny Network

Initial Public Offering on NASDAQ

Acquisition of DTV (rebranded to Peretz in 2011)

Acquisition of Channel 31 in Kazakhstan andlaunch of CTC Mega channel in Moldova

Launch of CTC-international in Kazakhstan, Kyrgyzstan, Armenia, Georgia, Azerbaijan, Thailand and uplink to HOT BIRD

CTC and Domashnyreceived digital licenses

Launch of CTC-international in Germany and the Baltics

Telcrest Investments Limited acquired a 25% stake in СTС Media from Alfa Group

Establishment of Story First content production company

Launch of Domashniy.ru women’s portal

Launch of CTC-international in USA

Launch of CTC-international in Israel

Establishment of CTC Media’s internal advertising sales house ‘Everest Sales’

Launch of Videomore.ru online content portal

DIGITAL MEDIA

CTC-INTERNATIONAL (PAY-TV)

AD SALES

CONTENT PRODUCTION

FREE-TO-AIR (CIS)

We Fully Capture the Value Chain by Being a Vertica lly Integrated TV Broadcaster

3

FREE-TO-AIR ( RUSSIA)

CTC – target audience All 10-45

Domashny – target audience Females 25-59

Peretz – target audience All 25-49

Free-to-airTV ad maket growth 1

Kazakhstan Channel 31

Moldova СTС Mega

Story First Production

Internal advertising sales house Everest

International version of CTC channel

Various digital projects

Online video portal Videomore.ru

Women’s portal Domashniy.ru

GROUP FINANCIAL HIGHLIGHTS

GROUP OPERATIONAL HIGHLIGHTS

� Combined Russian national inventory 97% sold-out

� Year-on-year increases in technical penetration of CTC, Domashny and Peretz networks to 95.1% (2011: 94.7%),

88.5% (2011: 84.9%), and 83.8% (2011: 80.1%), respectively

� Domashny and Peretz channels recorded all-time high average annual audience shares in 2012

� CTC and Domashny channels received licenses to be included in the second digital multiplex

� CTC-International channel launched in Armenia, Azerbaijan, Georgia, Kazakhstan and Kyrgyzstan

Note: (*) OIBDA , OIBDA margin and net income are adjusted to exclude an $82.5 million charge arising from the impairment of analog broadcasting licenses as a result of planned transition to digital broadcasting

� Consolidated revenues of $804.9 million – up 10% y-o-y in ruble terms

� Russian TV advertising revenues up 9% year-on-year in ruble terms

� Adjusted OIBDA of $256.4 million with an adjusted OIBDA margin of 31.9%

� Adjusted fully diluted earnings per share up 3% year-on-year to $1.00 (2011: $0.97)

� Net cash position of $173.4 million at the end of the period

� Board of Directors intends to pay aggregate cash dividends of $0.63 per share (or up to approximately $100 million) in 2013

Group Highlights for the FY 2012

4

We Operate in Attractive Markets

5Sources: Video International, Russian Association of Communications Agencies, ZenithOptimedia, CIA World Factbook, Rosstat, Russkiy Mir FoundationNote: (*) All TV Ad Markets figures are net of VAT

KazakhstanPopulation = 16.3 million2012 TV Ad Market = US$ 135.5 million*Russian-speaking population = 12.3 million

KyrgyzstanRussian-speakingpopulation = 2.5 million

USARussian-speakingpopulation = 3.5 million

GermanyRussian-speakingpopulation = 6 million

RussiaPopulation = 142 million2012 TV Ad Market = US$ 4.5 billion*

Israel Russian-speakingpopulation = 1.5 million

MoldovaPopulation = 3.6 million2012 TV Ad Market = US$ 16.7 million*

Baltic statesRussian-speakingpopulation = 4 million

Since February 2012CTC-International is available on the HOTBIRDTM 8 satellite (W/E Europe, North Africa,Middle East and Central Asia coverage )

ThailandRussian-speaking tourists = 1.3 million (2012)

Armenia, Georgia,AzerbaijanRussian-speaking population=10.4 mln

We Are the Largest Independent FTA-Broadcaster in R ussia with Premium Audiences

6

Combined audience shares, %(all 6-54 demographic)

Source: TNS Russia

18% national TV ad market revenue share in FY 2012

#2 up from # 4in FY 2011

7

Growth Company Operating in a Dynamic Market

Digitalization in Russia is on its way

+ 1regional channel

+ 1public TV channel(to be launched in May 2013)

Terms of tender to be announced in 2013

Available in 7 regions

To be fully rolled-out (98% all-Russia penetration) by 2016

8

First multiplex Second multiplex Third multiplex

9

US

$ b

ln

4.5

22.2

15.3

12.85.7 5.2 4.7

62.1

4.6

Russian Ad Market Has Significant Potential for Fur ther Development…

Russian TV ad market was #9 in the world and #5 in Europe in 2012 1…

…and is expected to become # 5 in the world and #1 in Europe in 2014 1

US

$ b

ln

66.3

5.3

15.2

5.9 5.9

4.8

18.2

22.4

Free-to-air TV ad market growth 1

RU

B b

lnR

UB

bln

Russian TV ad market forecast 2

Sources: (1) Zenith Optimedia, Company’s estimatesNote: All TV Ad Markets figures are net of VAT

(2) Video International

5.1

10

…Due to Relatively Low Ad Spend as % of GDP and Unde rleveraged Consumer

Ad spend as % of GDP¹

Sources: (1) ZenithOptimedia, Company’s estimates

(2) Eurostat, National Central Banks, 2012

Retail and mortgage loans as % of GDP 2

11

� TV is the only medium with truly national reach

� Important social and cultural platform

� More free-to-air networks than in other countries

� High quality free-to-air content offering

TV Is the Most Attractive Advertising Medium in Rus sia

Ad spend in Russia by media segment 1 (%)

FY 2011 cost per thousand in Russia (US$)²

H1 2011 TV cost per thousand (US$)²

Sources: (1) Russian Association of Communication Agencies, Video International(2) Initiative Media

12

Internet Consumption Is Growing…

2012: Russia is #1 in Europe by number of Internet u sers

2012: Internet Ad market growth in Russia (RUB, bln)

Increase of time spend online (hours per day)

2012: Internet penetration by country

Sources: ComScore, Boston Consulting Group, Zenith Optimedia, AKAR, Mindshare Interaction, ITU

…but Not at the Expense of TV Usage

228 232 226

246 243 243

222

249

153

133142

134

188

210

170

169

5 5 613

2339

4758

48 4537

46 5144

4042

2005 2006 2007 2008 2009 2010 2011 2012

TV

Radio

Internet

Other

Source: TNS Gallup Media, Russia

TV Usage (Minutes per day, All 16+)

Min

ute

s p

er d

ay

13

14

We Continue to Deliver Strong Top and Bottom-line G rowth…

Notes: (*) OIBDA is defined as operating income before depreciation and amortization (exclusive of amortization of programming and sublicensing rights. OIBDA margin is defined as OIBDA divided by total operating revenues. Both OIBDA and OIBDA margin are non-GAAP financial measures (see reconciliations on page 44)

(**) 2008 OIBDA and OIBDA margin are adjusted to exclude a $232.7 million charge arising from the impairment of the intangible assets of DTV Group in Russia, Channel 31 in Kazakhstan and a broadcasting group in Moldova; 2009 OIBDA and OIBDA margin are adjusted to exclude an $18.7 million charge arising from the impairment of the broadcasting licenses in Russia and a $28.6 million stock-based compensation expense recognized in conjunction with the previously announced settlement by CTC Media of litigation brought by it against its former CEO; 2011 OIBDA and OIBDA margin are adjusted to exclude a $106.4 million charge arising from the impairment of several regional broadcasting licenses and the Peretz Network goodwill; 2011 OIBDA and OIBDA margin are adjusted to $82.5 million non-recurring charge arising from the impairment of analog broadcasting licenses (see reconciliations on page 42-43)

(***) Comparable-basis operating revenues are non-GAAP financial measures provided in order to facilitate period-to-period comparisons of CTC Media’s results following the implementation of the new model of advertising sales starting from 2011 (see reconciliations on page 44)

(****) Following companies are included in European peers average OIBDA margin calculations: CME, TVN, S.A. Modern Times Group, Antena3, ITV plc, Metropole Television, Mediaset, ProSiebenSat, Mediaset Espana, TF1

US

$ m

ln

US

$ m

ln

…and to Diversify Our Lines of Business

15

FY 2012

Russian FTABroadcasting

93%

69% 14%

10%

Sublicensing3%

CIS3%

Digital Media0.6%

CTC-International0.5%

2004

Russian FTABroadcasting

100%

16

Strategic Focus on Long-Term Growth and Diversifica tion

We Have Clear Strategic Priorities

CO

NTE

NT

DISTRIBUTION PLATFORMS:• Enhance existing platforms

female portal

comedy portal

• Develop distribution collaboration (VK, Youtube)

• Be available on all screens

DIVERSIFICATION:• iVas on existing platforms

• Games

• Transmedia branded entertainment content

BR

OA

DC

AS

TIN

G • Stabilize audience share

• Improve audience profile

• Grow audience and market shares

• Grow audience and market shares

• Expand to markets with Russian-speaking audiences

• Build library

• Develop in-house production

• Invest in ideas development

• Increase production volumes

• Create strong brands

of CTC Media channels’ programming grid(from ~10% in 2011)

Content is king…. Distribution platform is queen17

CO

NTE

NT

DIG

ITA

L M

ED

IA

Up to 20%

CIS

18

CTC Improves Its Target Audience Profile in Commerc ially Attractive Demographic

Sources: TNS Russia

2013 Target audience

Domashny Improves Affinity in Its Target Demographic

19Sources: TNS Russia

Peretz Improves Audience Profile In Commercially Att ractive Young Adults Demographics

Sources: TNS Russia20

21

Domashny and Peretz Are Benefiting from Fragmentatio n of Russian TV Market

Audience shares, all 10-45 demographic

Top 3 state-controlled channels

1st tier channels

2nd tier channels

Channels’ target demographics, %

Notes: top 3 state-controlled channels: Channel One, Rossiya 1, NTV; 1st tier channels: CTC, TNT, Ren-TV;

2nd tier channels: TV-3, Domashny, Peretz, Rossiya K, Channel 5, Rossiya 2, Euronews, Zvezda, MTV, Rossiya 24, Ю, 2x2, TV Center, Disney, RU TV

Non-FTA channels

10%

20%

30%

40%

50%

60%

2004 2005 2006 2007 2008 2009 2010 2011 2012

Women 25-59, %All 10-45, % All 25-49, %

22

Kitchen

First run (Oct-Nov 2012) 19.1%1

Second run (Oct-Nov 2012) 12.2%

Third run (21.01-21.02.13) 15.3%

The 80’s

First season (February 2012) 21.5%

Second season (21.01-20.02.13) 17.1%

Traffic light

Fourth season (April-August 2012) 11.2%

Fifth season (Since 04.02.13 ) 13.7%

Boarding School

Third season (March-June 2012) 14.2%

Fourth season (September 2012) 16.5%

Fifth season (October-November 2012) 14.2%

Beyond the Law (Jan-Dec 2012)

Average share – 4.2%3

Road Wars (Jan-Dec 2012)

Average share – 3.0%

Funny Animals (Nov-Dec 2012)

Average share – 2.2%

First season (January 2012) 8.1%2

Second season (Sep-Nov 2012) 12.3%

Third season (Jan-Feb 2013) 9.3%

Note:(1) in CTC target demographic All 10-45 Note:(2) in Domashny target demographic All 25-59 Note:(3) in Peretz target demographic All 25-49

Positive Audience Share Momentum for Smaller Channe ls in 2012

Jokes (Anecdotes) (Aug-Sep, Nov-Dec 2012)

Average share – 2.4%

23

Stable Consumer Goods Client Base with Both Large M ulti-National and Local Advertisers

Ad spending on CTC Media’s Russian channels by cate gory

*

■ Vast majority of CTC Media’s Russian advertisers arebasic consumer goods focused

■ CTC Media’s advertisers’ budgets split:

� 80% multinationals, 20% local companies

� 34% of ad revenue** came from top 10 clients in 2012

Notes: (*) National advertising sales for CTC, Domashny and Peretz Networks

(**) Total Russian advertising sales for CTC, Domashny and Peretz Channels (Networks + Station groups) and Digital Media

FY 2011 FY 2012

1 Food and beverages 23% 26%2 Cosmetics and personal care products 18% 18%3 Other goods 15% 15%4 Pharmaceuticals and vitamins 12% 13%5 Telecoms 7% 8%6 Appliances 6% 4%7 Retail 5% 4%8 Auto 3% 4%9 Detergents 4% 4%10 Beer 5% 3%11 Finance 3% 2%

Developing in Attractive CIS, International and Dig ital Media Markets

24

25

We Are Strengthening Our Market Positions in the CI S

Channel 31, Kazakhstan (all 6-54 demographics)* Significant growth in CIS Segment revenue and OIBDA margin

US

$ m

ln

-20.2% 4.3%

20.2%

Source: (*) TNS Central Asia

21.4%

26

Plus We Continue to Expand Internationally…

Thailand July 2012 – Thai Media Export cable network

ArmeniaGeorgiaAzerbaijan

May 2012 – Caucasus cable networks 10.4 mln

Kyrgyzstan April 2012 – Europe-Asia cable and satellite network 2.5 mln

EuropeNorth Africa Middle East Central Asia

February 2012 – uplink service HOT BIRDTM

Kazakhstan February 2012 – Digital TV; Icon TV 12.3 mln

Baltic States October 2011 – Viasat Broadcasting 4 mln

Germany March 2011 – Kartina TV IPTV 6 mln

Israel June 2011 – Hot; Yes 1.5 mln

USA

December 2009 – DishMay 2011 – Time Warner; RMGOctober 2011 – Cablevision 3.5 mln

Increasing CTC Media’s international brand awarene ss & value through CTC-international

Total Russian-speaking population 40.2 mln

Russian-speaking population

27

…and Enter New Platforms to Be Wherever Our Viewers Are

28

Strong and Flexible Financial Position

29

4Q and FY 2012 Financial Highlights

2011 2012 in USD in RUB 2011 2012 in USD in RUB

Total operating revenues $236,758 $264,233 12% 11% $766,360 $804,946 5% 10%Total operating expenses (before non-recurring items) (148,725) (169,391) 14% 13% (537,293) (572,556) 7% 12%

Total operating expenses (238,264) (169,391) -29% (643,675) (655,059) 2%

Adjusted OIBDA 92,757 103,809 12% 11% 246,716 256,408 4% 8%

Adjusted OIBDA margin 39.2% 39.3% 32.2% 31.9%

OIBDA 3,218 103,809 nm nm 140,334 173,905 24% 37%

OIBDA margin 1.4% 3.7% 18.3% 21.6%Adjusted net income attributable to CTC Media, Inc. stockholders 61,434 64,875 6% 5% 152,561 157,794 3% 9%

Adjusted diluted earnings per share $0.39 $0.41 5% 5% $0.97 $1.00 3% 9%Net income/(loss) attributable to CTC Media, Inc. stockholders

(24,535) 64,875 nm nm 53,118 93,063 75% 85%

Diluted earnings per share ($0.16) $0.41 nm nm $0.34 $0.59 74% 84%

ChangeThree Months

Ended December 31, ChangeTwelve Months

Ended December 31,

30

FY 2012 Balance Sheet and Cash Flow Highlights

30

Consolidated Balance Sheet Highlights Consolidated Cash Flow Highlights

Notes: (1) Working capital = current assets - current liabilities(2) Net cash position = cash and cash equivalents + short-term investments - total debt(3) Free cash flow = cash flow from operating activities - acquisitions of property and equipment and intangible assets

(US$ mln)

As of December 31, 2011

As of December 31, 2012

Cash and cash equivalents 12.3 55.2

Short-term investments 117.2 131.4

Total assets 893.7 985.6

including goodwill 164.4 178.0

including broadcasting licenses 159.4 82.3

including programming rights 199.1 102.2

Working capital1 197.1 298.3

Total debt (bank overdraft) 16.9 13.2

Stockholders’ equity 697.2 762.9

Net cash position2 112.6 173.4

(US$ mln) 2011 2012

Cash at beginning of period 59.6 12.3

Net cash provided by operating activities 115.8 157.7

including acquisition of progr. and sublic. rights (358.6) (364.2)

Net cash used in investing activities (54.6) (26.5)

including acquisition of busineses (25.0) (4.0)

including CapEx (19.8) (15.6)

including receipts from/(investments in) deposits (9.8) (6.8)

Net cash used in financing activities (115.0) (88.9)

Cash at end of period 12.3 55.2

CapEx (19.8) (15.6)

CapEx as % of total revenue 2.6% 1.9%

Free cash flow3 96.0 142.1

Twelve months ended December 31,

31

High Levels of Cash Conversion and Return on Capita l Employed

2007-2012average ROCE: 30%

% of OIBDA Converted to Operating Cash Flow Return on Capital Employed*

Note: (*) ROCE excludes one-off non-cash asset impairment charges recognized in 2008, 2009 and 2011.

US

$ m

ln

To Conclude…

32

33

Appendix

CTC Media Shareholder Structure

34

CTC Media, Inc.

Shareholder of CTC Media since 2002

Modern Times GroupMTG AB

38%

Number of common shares outstanding(as of December 31, 2012)

Shareholder of CTC Mediasince 2011

Telcrest Investments Limited

25%

IPO on NASDAQ in June 2006

Free float

37%

Source: U.S. SEC filings, as of December 31, 2012

158,160,719

Hans-Holger AlbrechtCo-Chairman

Irina Gofman Director

Mathias HermanssonDirector

Board of Directors

Independent Directors

Angelo Codignoni Co-Chairman

Dmitry LebedevDirector

Timur WeinsteinDirector

Tamjid BasuniaDirector

Werner KlattenDirector

Jean-Pierre MorelDirector

35

Audience Shares In “All 10-45” Most Commercially Attr active Demographic

Audience shares1, %

(1) Source: TNS Russia, CTC Media’s Research Department

(2) Includes audience shares of regional and non-FTA channels(*) Operated under Semerka brand before 31 December, 2011

(**) Operated under Muz-TV brand before 1 September, 2012

Difference in audience shares among Top-5 channels is narrowing

36

Audience Shares In “All 6-54” Demographic

(1) Source: TNS Russia, CTC Media’s Research Department

(2) Includes audience shares of regional and non-FTA channels

Audience shares1, %

(*) Operated under Semerka brand before 31 December, 2011(**) Operated under Muz-TV brand before 1 September, 2012

Audience Shares In “All 4+” Demographic

(1) Source: TNS Russia, CTC Media’s Research Department

(2) Includes audience shares of regional and non-FTA channels

Audience shares1, %

(*) Operated under Semerka brand before 31 December, 2011

FY 2011

FY 2012

37(**) Operated under Muz-TV brand before 1 September, 2012

38

Consistent Growth inTechnical Penetration

Note: (1) Technical penetration means the percentage of the population that has the technical ability to receive a particular broadcast signal. Measured annually by TNS Gallup Media in cities with populations of more than 100,000

Technical Penetration 1, %

38

2007 2008 2009 2010 2011 2012 2007 2008 2009 2010 2011 2012 2007 2008 2009 2010 2011 2012

Advertising sales structure since 2011

39

Advertisers

Advertising Agencies

Internal Sales Houses External Sales Houses

Everest Sales RTR-Media Gazprom-Media / Alkasar Video International

Consultancy services

40

Operating Expenses

as % of total operating expenses as % of total operating revenues

$537.3 mln $572.6 mln $805.0 mln$766.4 mln

(292.4) (317.1)

(165.2) (181.3)

FY 2011 Income Statement Highlights

41

(US$ 000’s except per share data)

Twelve Months Ended December 31,

2010

Twelve Months Ended December 31,

2011 Change

as reported comparable-basis, non-

GAAP

as reported

as reported

comparable-basis, non-

GAAP

Total operating revenues $601,285 $680,418 $766,360 27% 13%

Total operating expenses (before non-recurring items) (394,167) (473,300) (537,293) 36% 14%

Total operating expenses (394,167) (473,300) (643,675) 63% 36%

Adjusted OIBDA 220,854 220,854 246,716 12% 12%

Adjusted OIBDA margin 36.7% 32.5% 32.2%

OIBDA 220,854 220,854 140,334 -36% -36%

OIBDA margin 36.7% 32.5% 18.3%

Adjusted net income attributable to CTC Media, Inc. stockholders 145,731 145,731 152,561 5% 5%

Adjusted diluted earnings per share $0.93 $0.93 $0.97 4% 4%

Net income attributable to CTC Media, Inc. stockholders 145,731 145,731 53,118 -64% -64%

Diluted earnings per share $0.93 $0.93 $0.34 -63% -63%

(US$ 000’s except per share data)

OIBDATotal operating

expensesOperating

income (loss)

Income (loss) before income tax and non-controlling

interest

Income tax expense

Net income (loss)

attributable to CTC Media, Inc.

stockholders

Fully diluted earnings per

share

Three months ended September 30, 2011Adjusted non-US GAAP results $ 48,141 ($116,217) $ 43,361 $ 46,988 ($16,237) $ 29,867 $ 0.19 Impact of impairment loss (16,843) (16,843) (16,843) (16,843) 3,369 (13,474) (0.09)Results as reported(under US GAAP, except for OIBDA which is a non-US GAAP financial measure) $ 0.10 $ 31,298 ($133,060) $ 26,518 $ 30,145 ($12,868) $ 16,393

(US$ 000’s except per share data)

OIBDATotal operating

expensesOperating

income (loss)

Income (loss) before income tax and non-controlling

interest

Income tax expense

Net income (loss)

attributable to CTC Media, Inc.

stockholders

Fully diluted earnings per

share

Three months ended September 30, 2012Adjusted non-US GAAP results $43,366 ($123,554) $38,455 $41,722 ($14,501) $27,522 $0.17 Impact of impairment loss (82,503) (82,503) (82,503) (82,503) 16,501 (66,002) (0.41)Results as reported(under US GAAP, except for OIBDA which is a non-US GAAP financial measure) ($39,137) ($206,057) ($44,048) ($40,781) $2,000 ($38,480) ($0.24)

42

Reconciliation of Non-GAAP Measures

Reconciliation of consolidated adjusted OIBDA and o ther adjusted financial measures to consolidated OI BDA and other corresponding GAAP financial measures

(US$ 000’s except per share data) OIBDATotal operating

expensesOperating income

(loss)

Income before income tax and noncontrolling

interest

Income tax expense

Net income (loss)Fully diluted earnings per

share

Twelve Months Ended December 31, 2012Adjusted non-US GAAP results $256,408 ($572,556) $232,390 $247,192 ($82,645) $157,794 $1.00

Impact of impairment loss (82,503) (82,503) (82,503) (82,503) 17,772 (64,731) (0.41)

Results as reported(under US GAAP, except for OIBDA which is a non-US GAAP financial measure) $93,063 $0.59 $173,905 ($655,059) $149,887 $164,689 ($64,873)

42

43

Reconciliation of Non-GAAP Measures

Reconciliation of consolidated adjusted OIBDA and o ther adjusted financial measures to consolidated OI BDA and other corresponding GAAP financial measures

(US$ 000’s except per share data) OIBDATotal

operating expenses

Operating income (loss)

Income (loss) before income tax and noncontrolling

interest

Income tax expense

Net income (loss)Fully diluted earnings per

share

Twelve months ended December 31, 2011Adjusted non-US GAAP results $246,716 ($537,293) $ 229,067 $ 243,301 ($83,342) $ 152,561 $ 0.97

Impact of impairment loss (106,382) (106,382) (106,382) (106,382) 6,939 (99,443) (0.63) Results as reported(under US GAAP, except for OIBDA which is a non-US GAAP financial measure) $ 0.34 $140,334 ($643,675) $ 122,685 $ 136,919 ($76,403) $ 53,118

Twelve months ended December 31, 2009Adjusted non-US GAAP results $87,382 ($96,460) $84,047 $87,585 ($20,759) $64,466 $0.41

Impact of non-cash intangible asset impairment charge (18,739) (18,739) (18,739) (18,739) 3,748 (14,991) (0.10)

Impact of Stock-based compensation expense related to settlement of litigation against former executive (28,588) (28,588) (28,588) (28,588) - (28,588) (0.18)

Results as reported (under US GAAP, except for OIBDA, which is a non-GAAP financial measure) $163,929 ($353,638) $152,475 $148,645 ($45,626) $100,389 $0.64

Twelve months ended December 31, 2008

Adjusted non-US GAAP results $280,241 ($94,636) $92,712 $74,266 ($1,653) $64,635 $1.11

Impact of non-cash impairment of intangible assets of DTV, Kz and Moldova (232,683) (232,683) (232,683) (232,683) 30,331 (153,679) (0.97)

Results as reported

(under US GAAP, except for OIBDA) $28,678 ($89,044) $0.14 $47,558 ($327,319) ($139,971) ($158,417)

44

Reconciliation of Non-GAAP Measures (continued)

Reconciliation of consolidated OIBDA margin to cons olidated operating income margin

USD mln 2004 2005 2006 2007 2008 2009 2010Comparable-basis total operating revenues

180,639 273,352 427,091 532,143 729,629 574,107 680,418

Agency commission fees payable to Video International in connection with Russian advertising sales (excluding commissions for regional advertising sales to local clients)

(25,072) (35,875) (56,257) (60,087) (89,458) (67,994) (79,133)

Total operating revenues 155,567 237,477 370,834 472,056 640,171 506,113 601,285

Reconciliation of consolidated OIBDA to consolidate d operating income

Reconciliation of comparable-basis, non-GAAP total operating revenues to total operating revenues

USD mln Q4 2012 Q4 2011 FY 2012 FY 2011 FY 2010 FY 2009 FY 2008 FY 2007 FY 2006 FY 2005 FY 2004

Operating income (loss) 94,842 (1,506) 149,887 122,685 207,118 152,475 34,181 193,061 154,313 90,187 62,559

Add: depreciation and amortization

8,967 4,724 24,018 17,649 13,736 11,454 13,379 27,361 19,651 13,920 7,962

OIBDA 103,809 3,218 173,905 140,334 220,854 163,929 47,560 220,422 173,964 104,107 70,521

USD mln Q4 2012 Q4 2011 FY 2012 FY 2011 FY 2010 FY 2009 FY 2008 FY 2007 FY 2006 FY 2005 FY 2004

Operating margin 35.9% -0.6% 18.6% 16.0% 34.4% 30.1% 5.3% 40.9% 41.6% 38.0% 40.2%

Add: depreciation and amortization as percentage of revenue

3.4% 2.0% 3.0% 2.3% 2.3% 2.3% 2.1% 5.8% 5.3% 5.8% 5.1%

OIBDA margin 39.3% 1.4% 21.6% 18.3% 36.7% 32.4% 7.4% 46.7% 46.9% 43.8% 45.3%

45

Contact Information and Disclaimer

For further information please visit www.ctcmedia.ru or contact:

Ekaterina OstrovaDirector, Corporate Communications and Investor Rel ationsTel: +7 (495) 783 3650

Irina Klimova Senior Manager, Investor Relations E-mail: ir@ctcmedia.ruTel: +7 (495) 981 0740

DISCLAIMER

� The information contained in this presentation, including market data that are attributed to specific sources and have not been independently verified. Norepresentation, warranty or undertaking, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness ofthe information or the opinions contained herein. None of the Company or any of its affiliates, advisors or representatives shall have any liability whatsoever (innegligence or otherwise) for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection with the presentation.

� The presentation is not an offer of securities for sale in the United States. Neither the presentation nor any copy of it may be taken or transmitted into or distributed in the United States of America or to any U.S. person within the meaning of Regulation S under the United States Securities Act of 1933, as amended (the “Securities Act”).

� This presentation is not a public offer or advertisement of securities in the Russian Federation, and is not an offer, or an invitation to make offers, to purchase any securities in the Russian Federation.

� Certain statements in this presentation that are not based on historical information are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, among others, statement regarding Company’s intention to pay dividends in 2013, anticipation of tender for third multiplex to be announced in 2013, statement regarding Russian advertising market growth, roll-out of digital broadcasting in Russia by 2016, advertising expenditures in different segments in Russia, increase of time spent online in Russia. These statements reflect the Company's current expectations concerning future results and events. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of CTC Media to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The potential risks and uncertainties that could cause actual future results to differ from those expressed by forward-looking statements include, among others, changes in the size of the Russian television advertising market; the roll-out of digital broadcasting in Russia; depreciation of the value of the Russian ruble compared to the US dollar; the Company’s ability to deliver audience share, particularly in primetime, to its advertisers; free-to-air television remaining a significant advertising forum in Russia; and restrictions on foreign involvement in the Russian television business. These and other risks are described in the "Risk Factors" section of CTC Media's annual report on Form 10-K filed with the SEC on February 28, 2012 and our recently report on Form 10-Q filed with the SEC on November 7, 2012. Other unknown or unpredictable factors could have material adverse effects on CTC Media's future results, performance or achievements. In light of these risks, uncertainties, assumptions and factors, the forward-looking events discussed herein may not occur. You are cautioned not to place undue reliance on these forward-looking statements. CTC Media does not undertake any obligation to publicly update or revise any forward-looking statements because of new information, future events or otherwise.