4Q 2016

NIELSENINVESTOR OVERVIEW

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FORWARD LOOKING STATEMENTS

The following discussion contains forward-looking statements, including those about Nielsen’soutlook and prospects, in the meaning of the Private Securities Litigation Reform Act of 1995.Forward-looking statements are those which are not historical facts. These and otherstatements that relate to future results and events are based on Nielsen’s current expectationsas of February 9, 2017.

Our actual results in future periods may differ materially from those currently expected becauseof a number of risks and uncertainties. The risks and uncertainties that we believe are materialare outlined in our disclosure filings and materials, which you can find onhttp://nielsen.com/investors. Please consult these documents for a more completeunderstanding of these risks and uncertainties. We disclaim any intention or obligation toupdate or revise any forward-looking statements, whether as a result of new information, futureevents or otherwise, except as may be required by law.

Our outlook is provided for the purpose of providing information about current expectations for2017. This information may not be appropriate for other purposes.

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NIELSEN AT A GLANCE

Measurement and analytics for content,

advertising and activity for television, digital,

social and audio

Market share measurement and

analytics for fast moving consumer goods

FOCUS: DRIVE SHAREHOLDER VALUE THROUGH GROWTH, PROFITABILITY, AND FREE CASH FLOW

Watch Buy

Market Cap and Dividend Yield are reported as of 2/8/17Adjusted EBITDA presented on a constant currency basis

Market Cap $15.04B

Cash Returned to Shareholders (2014-2016) $2.7B

2016 Total Company Revenue $6.3B

2016 Free Cash Flow $941M

2016 Adj. EBITDA Margin Growth 31bps

Dividend Yield 2.95%

Revenue Recurring in Nature ~70%

2016 Total Revenues

Watch47%

Buy53%

2016 Revenue: ~$3.0B

Adj. EBITDA Margin: 45%

2016 Revenue: ~$3.3B

Adj. EBITDA Margin:19%

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NIELSEN’S BUSINESS STRATEGY & OBJECTIVES

BUY

WATCH

Expand coverage of consumer purchase

behavior globally

Capture Total Audience across all screens and

platforms

MARKETING EFFECTIVENESS

Help clients understand how individuals’ viewing

behavior impacts purchase behavior

OUR VALUES

OPEN

CONNECTED

USEFUL

OUR BRAND

QUALITY

INTEGRITY

NEUTRALITY

EXECUTION OF OUR STRATEGY DRIVES SHAREHOLDER VALUE THROUGH THE CYCLES

v

PERSONAL

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OUR STRATEGIC FRAMEWORK

CONSUMER FOCUS

PERFORMANCE MANAGEMENT

GLOBAL PRESENCE

BROADCASTTV

CABLE SATELLITE TV

TIME SHIFTING

DIGITAL

WATCHMOBILE

BUY

GROCERY MASS RETAIL

DRUG STORE

CLUB OUTLETS

SPECIALTY STORE

E-COMMERCE

TOTAL AUDIENCE

TOTAL CONSUMER

POWERFUL BUSINESS MODEL DRIVES CONSISTENT PERFORMANCE

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COMPELLING FINANCIAL PERFORMANCE

STRONG FREE CASH FLOW

BALANCED CAPITAL ALLOCATION

CONSISTENT REVENUE GROWTH

MARGIN EXPANSION

WELL-POSITIONED TO DELIVER STRONG SHAREHOLDER RETURNS

• 6% CAGR from ’11 to ’16• 42 quarters of consecutive growth• Investing in key growth opportunities

• Syndicated business model & cost-out initiatives• ~3.4 pts of margin expansion ’11 to ’16• Adj. EBITDA +9% CAGR from ‘11 to ‘16

• Generated $3.8B of Free Cash Flow from ‘11 to ’16• 20% CAGR from ’11 to ’16• 23 pts FCF conversion improvement ‘11 to ‘16

• Tremendous flexibility to invest in growth• $2.7B back to shareholders from 2014-2016

RESULTS

* ’11 to ’16 CAGR ~4.4% ex Harris and AudioNote: FCF conversion: calculated as a percentage of Adj. EBITDA

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WHY INVEST IN NIELSEN?

Unmatched global footprint of 100+ countries

“Mission critical” measurement and analytics embedded in client workflows

Syndicated, scalable products and services

Strategic investments to drive continued and future growth opportunities

Proven track record of growth and economic resilience

Strong free cash flow generation and compelling capital allocation strategy

WE ARE A GLOBAL, INDEPENDENT MEASUREMENT AND DATA COMPANY FOR FAST MOVING CONSUMER GOODS AND MEDIA

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OUR GROWING GLOBAL FOOTPRINT

2014 REVENUE DISTRIBUTION

…Underscored By A Global Employee Base Of ~42,000 Talented Associates We Work Hard To Attract, Develop And Retain

Our focus is relentless on our pursuit to provide clients with the most complete understanding of what consumers buy and watch in 100+ countries…

Buy Coverage Only Watch & Buy Coverage

~20% of revenues in emerging markets

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LONG-TERM, BEST-IN-CLASS CLIENT BASEBUY WATCH

• 20,000+ clients• Relationships with top 10 clients

for over 30 years• Long-term contracts provide

stable, recurring revenues –average length of 3-10 years

• No client represents more than 4% of 2016 revenues

HIGHLIGHTS

PARTNERSHIPS

For more than 90 years, we have been at the forefront of measuring consumers around the world, helping clients drive better business decisions and profitable growth over time

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• 10% increase in Portable People Meter sample size (48 markets)

• Incorporating out-of-home viewing

• Set-top-box data to add stability and granularity to ratings

• “Digital in TV Ratings”: newly MRC accredited; to be included in C3/C7

• Total Content Ratings: limited commercial release on March 1st

• Digital Content Ratings: syndicated September 2016; continued adoption

• Subscription Video On-Demand: >20K episodes; improving data capture

• Digital Ad Ratings: growing client adoption and use for guarantees

• National TV: incorporating out-of-home viewing in April

• 2017 Upfronts: Total Audience and its many components to play a key role

WATCH: STRATEGIC INITIATIVES (4Q 2016 UPDATE)

• Nielsen Marketing Cloud: increasing the value of data and analytics

Total Audience Measurement

Marketing Effectiveness: Convergence of Watch and Buy

Audio

Local

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BUY: TWO-SPEED WORLD (4Q 2016 UPDATE)

• Linking measurement data with analytics, explanatory and predictive

• Addressing client needs of speed and efficiency

• Expanding to an additional 20-30 clients as the year unfolds; broader rollout in 2018

• Connected Partner Program growing, adding value to measurement data

Connected System: The Future of Buy

• Global footprint remains strategic advantage

• Balanced portfolio of global and local clients, broad-based growth

• Ongoing investments in measurement coverage and granularity

Emerging Markets: Compelling Story

Developed Markets: Challenging Growth Environment

• Measurement + everyday analytics remain mission critical for clients

• Renewal rates with large global clients 100%

• Clients reining in costs and reducing spend, our business not immune

• Covering 90% of US e-commerce sales of fast moving consumer goods

• Strategic agreement with JD.com in China

• Active in 11 markets, expanding to six more in 2017

E-Commerce: Building Out Coverage

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THE FUTURE OF NIELSEN

MEASUREMENT: 94TH YEAR, INDEPENDENCE, COVERAGE, GRANULARITY

INTEGRATING MULTIPLE DATA SOURCES

OPEN, COLLABORATIVE MODELS

CONNECTING MEASUREMENT WITH ANALYTICS, DRIVING ACTIVATION

TRANSITIONING TO DaaS / SaaS MODEL

MORE TECHNOLOGY CENTRIC, GROWING ROLE OF AUTOMATION

SPEED, EFFICIENCY, VALUE FOR OUR CLIENTS

VALUE FOR OUR SHAREHOLDERS

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WHAT CONSUMERS BUY

83Kscan sales input files

received daily

30Kstores

enumerated daily

13Knew items

“coded” daily

6.1Blines audited

annually

55Kstore visits

daily

Broad, unparalleled reach of consumers worldwide

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BUY: MEASURING THE TOTAL CONSUMER

Total 2016 Revenue: ~$3.3B… Approximately 60% recurring in nature

Retail sales measurement, market share information and advanced analytical capabilities

• Presence in 100+ countries

• Measure billions of monthly point-of-sale transactions

• Store level data from nearly 2 million stores, supplemented from proprietary household level data from 240K households

• Demand for Everyday Analytics: Pricing, Promotion and Assortment

GROWTH THROUGH DIFFERENTIATION, STICKINESS & SCALE

Developed

Corporate

Emerging

63%

32%

5%

2016 Total Buy Revenue

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BUY GROWTH INITIATIVE #1: EMERGING MARKETS

2006 2016

$0.6B

~$1.1B

~36%LOCALS

~64%GLOBALMNCs

Biggest increase ever Acceleration with locals

Source: OECD

3.7B

7.0B

8.3B

GROWTH OF MIDDLE CLASS EMERGING MARKETS REVENUE

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BUY GROWTH INITIATIVE #2: CONNECTED SYSTEM

PERFECTLY ALIGNED WITH CLIENT NEEDS

business driversWhy?

data visualizationWhat’s Happening?

data exchangeAPI

data

NIELSEN

CONNECTED

PARTNER DATA

TOTAL

CONSUMER

TOTAL

AUDIENCE

CLIENT

DATA

PUBLIC

DATA

ECOSYSTEM

WhatNext?

appsinnovation • marketing • sales

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CONNECTED SYSTEM: ONGOING, AGILE DEVELOPMENT AND ROLLOUT

Build the foundations with

charter clients

Expand to 20-30 clients

Agile rollout

2016 2017 2018

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CONNECTED SYSTEM: FINANCIAL OUTCOMES

Revenue

+ Data & software revenue less people intensive+ Connected Partner revenue less cost intensive+ Cost efficient technology architecture

+ Stronger value proposition for large, mid & small clients+ Analytics less lumpy…connected to core measurement+ Connected Partners…new revenue source+ Data & software revenue

Margins

EXPECTED TO LEAD TO A STRONGER, MORE PROFITABLE BUY BUSINESS

People-as-a-Service revenue

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BUY GROWTH INITIATIVE #3: E-COMMERCE

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WHAT CONSUMERS WATCH

286M Watching

Time-Shifted TV

264MListening to

AM/FM Radio

121MWatching Video

on PC

202MUsing App/Web on

a Smartphone

157MWatching Video on

a Smartphone

Measuring Total Audience across screens

* Number of users engaging with these forms of media based on Q2 2016 Total Audience Report

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WATCH: MEASURING THE TOTAL AUDIENCE Total 2016 Revenue: ~$3.0B… Approximately 85% recurring in nature

• Watch measurement capabilities in 47 countries

• Digital measurement, audience analytics and consumer research

• Grossed and de-duplicated total reporting across all devices, access points and business models

• Separate measurement for content and ads.

• Strategic relationships (Adobe, Experian, Facebook, Twitter, Roku, DISH, Charter)

• Gold standard, MRC accredited panel

Cross Platform Measurement

2016 Total Watch Revenue Breakdown

Video Ratings Audio Ratings Text Ratings

printed press

websites

Audience Measurement(Video & Text)

Audio

Marketing Effectiveness

Corporate/Other Watch

10%

17%

7%

66%

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2016 WATCH HIGHLIGHTS

TELEVISION: ADDING RETURN PATH DATA, OUT OF HOME VIEWING

SVOD: OVER 20,000 PROGRAM EPISODES

DIGITAL CONTENT RATINGS: SYNDICATED IN SEPTEMBER

TOTAL CONTENT RATINGS: MULTI-PHASED SYNDICATION

NIELSEN MARKETING CLOUD: DOUBLE DIGIT GROWTH IN MARKETING EFFECTIVENESS

UPFRONTS: TOTAL AUDIENCE POISED TO PLAY BIG ROLE IN 2017

DIGITAL AD RATINGS: EXPANDED TO 25 MARKETS; VIEWABILITY

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TOTAL AUDIENCE MEASUREMENTGrossed and de-duplicated total reporting across all devices, access points and business models

Programs& Ads

Content

Ads

TV CONNECTED DEVICE PC TABLET SMARTPHONE

Dyn

amic

Lin

ear

C3

/C7

/AQ

H

MEASURING CONSUMER MEDIA EXPOSURE ACROSS PLATFORMS

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STRATEGIC IMPERATIVE: MEASURE CONTENT AND ADS SEPARATELY

Total Ad Ratings Total Content Ratings

Includes:

Digital Content Ratings+

TV Program Ratings

Includes:

Digital Ad Ratings+

C3/C7

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DIFFERENTIATED CROSS PLATFORM ARCHITECTURE

TWO TYPES OF CONTENT

Native Digital Content

HARDWARE METER

LinearRatings

GOLDSTANDARD PROCESS

ONE ENCODING PROCESS

COMPARABLE OVERNIGHT RATING

DigitalRatings

Total Audience

Traditional Linear Content

MRC ACCREDITEDUNIVERSAL

BIG DATAENABLED

MEASUREMENT

HARDWARE & SOFTWARE

METER

ONE CLIENT-SIDE IMPLEMENTATION

SDKs

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MOVING THE MARKET TO TOTAL AUDIENCE CURRENCY

Execute

• Build of scalable architecture and software complete

2015

Transact

• DCR syndication complete

• TCR: limited commercial release

2017

Evaluate

• ~50 networks VOD

• +25 networks Digital

• Secondary crediting capability

• 5 MVPDs + networks digital C3/7 – now transacting

Adopt

• Parallel industry reporting, framework in place

2016

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BUILDING FOR AN ADDRESSABLE FUTURE

TARGETED ADVERTISING (AUDIENCE BUYS)

REACH ADVERTISING (LINEAR BUYS)

AD AD AD AD AD

COMPARABLE CROSS-PLATFORM REACH MEASUREMENT (AGE/GENDER)

AUDIENCE SCORES (DEMO+)

ROI SCORES

Pet Lover Beer Drinker Avid Hiker Car Buyer

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NIELSEN MARKETING CLOUD: INFORMING CMO DECISION-MAKINGPlanning, activation and analysis via Nielsen Marketing Cloud

PERSONS LEVEL BIG DATA BACKBONE

ACTIVATEPREDICT AND PLAN ANALYZE

LIFESTYLE

TOTAL AUDIENCE

1ST PARTY PARTNERSHIP

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TOTAL AUDIENCE: DELIVERING ON THE NEEDS OF THE INDUSTRY – TODAY AND TOMORROW

TOTAL AUDIENCE IS FOUNDATIONAL FOR AN ADDRESSABLE WORLD

TOTAL AUDIENCE IS A CRUCIAL PART OF THE EVOLVING CURRENCY

BUILDING OUT A BUY AND SELL SIDE DEPENDENCY FOR THE FUTURE

TOTAL AUDIENCE IS HERE – DELIVERED

ONLY NIELSEN CAN

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FINANCIALS

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STRONG CONSISTENT FINANCIAL PERFORMANCE

$1.5 $1.5 $1.6

$1.8 $1.9 $1.9

2011 2012 2013 2014 2015 2016

27.2% 27.8% 28.4% 29.2% 30.1% 30.7%Margins

ADJUSTED EBITDA ($B)

9%CAGR

$376 $426

$573

$681

$808

$941

2011 2012 2013 2014 2015 2016

26% 28% 35% 37% 43% 49%FCF Conversion

FREE CASH FLOW ($M)

20%CAGR

Note: Figures are as reported, Adj. EBITDA CAGR represented in constant currency. FCF conversion: calculated as a percentage of Adj. EBITDA

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CONSISTENT REVENUE GROWTH($ billions)

Note: Figures are as reported, CAGR and revenue growth in constant currency. ’11 to ’16 CAGR ~4.4% ex Harris and Audio.

BUY

WATCH

6% CAGR

• Core measurement resilient

• New client wins

• Accelerating growth in emerging markets

• Total Audience Measurement

• Marketing Effectiveness growing double-digits

• Portfolio transformation

CONSISTENT & RESILIENT BUSINESS MODEL

2011 - 2016

Total CC % 5.6% 4.1% 6.4% 12.4% 5.0% 4.1%

Watch CC %

5.2% 4.8% 11.7% 21.3% 4.9% 6.3%

Buy CC % 5.8% 3.6% 3.1% 6.3% 5.0% 2.3%

3.3 3.3 3.4 3.5 3.3 3.3

2.0 2.1 2.3 2.8 2.8 3.0

2011 2012 2013 2014 2015 2016

$5.3 $5.4 $5.7$6.3 $6.2 $6.3

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Note: Revenue and Adj. EBITDA margin growth in constant currency

2017 GUIDANCE(Revenue and adj. EBITDA margin growth in constant currency)

Total Revenue 5% - 6%

Total Revenue Core 6.5% - 7.5%

Total Revenue Core (ex Gracenote) 3% - 4%

Adj. EBITDA margin growth Flat

GAAP Net Income Per Share $1.40 - $1.46

Net Debt Leverage Ratio ~3.8x

Free Cash Flow ~$900M

Net book interest $365M - $375M

GAAP Tax Rate 38.0% - 38.5%

Restructuring $60M - $70M

Cash restructuring $100M - $110M

D&A $665M - $675M

Est. wtd. avg. diluted shares outstanding for FY 2017 ~359M

OTHER FINANCIAL METRICS

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34

BALANCED CAPITAL ALLOCATION

Dividend~45%

MandatoryDebt~15%

Buyback / Tuck-in BD

~40%

LONG TERM FCF DEPLOYMENT 2014 – 2016 ACTIVITY

DELIVERING SHAREHOLDER VALUE

• Grow the business‒ Innovation…Total Audience & Connected System‒ Inorganic…Tuck-ins

• Return cash to shareholders‒ Grow dividend in line with earnings‒ Share buybacks

PRIORITIES

• Generated ~$2.4B of Free Cash Flow

• Returned $2.7B back to shareholders

• Increased dividend 94% since inception

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NIELSEN ACQUISITIONS & JOINT VENTURESCompany Capabilities

2013

Arbitron Radio audience measurement

Bowker E-books

MediaXIM Belgium and Netherlands advertising info services

G4 Trade promotion optimization; Leader in SaaS analytics solutions for CPG companies

2014

Nielsen Innovate Israel based incubator investing in startups that help Nielsen clients (10 countries)

Harris U.S. custom surveys

NexiumRetail shelf image identification technologies that replace manual inventory management systems

MMRD (JV) RMS in Myanmar

Czech TAM (JV) Television audience measurement

AffinovaIntuitive user interface platform and automated analytics capabilities; Nielsen’s Innovation Practice

2015 eXelate Digital Marketing Platform (DMP) that helps facilitate the buying/selling of advertising

2016Pointlogic

Global leader in marketing decision support systems that improve precision and allocation

Repucom Global leader in sports measurement, evaluation and intelligence

2017 Gracenote Industry’s largest provider of media and entertainment metadata

APPROXIMATELY $2.5B IN ACQUISITIONS AND JVS SINCE 2013, DRIVING GROWTH, VALUE & RETURNS

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36

FOREIGN CURRENCY IMPACT

(a) Projected impact assumes rates in effect at 2/8/17 remain in effect for the balance of 2017. Note: We report on a constant currency basis to reflect operating performance

61%9%

3%3%3%

21%

USD EUR CAD GBP CNY Other

2016 CURRENCY PROFILE - REVENUEPROJECTED FX IMPACT(a):

REPORTED VS CONSTANT CURRENCY

(140)

(190)

(50)

(160)

(120)

30

(70)(60)(90)

20

(40) (40)

60

(10)

4Q16 FY16 1Q17E 2Q17E 3Q17E 4Q17E FY17E

Rev (bps) EBITDA (bps)

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LONG TERM OUTLOOK

Note: All growth measures represented on constant currency basis.

THIS IS NIELSEN

DIVIDEND GROWTH

FREE CASH FLOW CONVERSION

MARGIN EXPANSION

REVENUE GROWTH

IN LINE WITH EARNINGS GROWTH

45-50% ADJ. EBITDA

~50 BPS

MID-SINGLE DIGIT

GAAP EPS GROWTH DOUBLE DIGIT

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APPENDIX

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39

CERTAIN NON-GAAP MEASURESOverview of Non-GAAP PresentationsWe use the non-GAAP financial measures discussed below to evaluate our results of operations, financial condition, liquidity and indebtedness. We believe that the presentation of these non-GAAP measures provides useful information to investors regarding financial and business trends related to our results of operations, cash flows and indebtedness and that when this non-GAAP financial information is viewed with our GAAP financial information, investors are provided with valuable supplemental information regarding our results of operations, thereby facilitating period-to-period comparisons of our business performance and is consistent with how management evaluates the company’s operating performance and liquidity. In addition, these non-GAAP measures address questions the Company routinely receives from analysts and investors and, in order to assure that all investors have access to similar data the Company has determined that it is appropriate to make thisdata available to all investors. None of the non-GAAP measures presented should be considered as an alternative to net income or loss, operating income or loss, cash flows from operating activities, total indebtedness or any other measures of operating performance and financial condition, liquidity or indebtedness derived in accordance with GAAP. These non-GAAP measures have important limitations as analytical tools and should not be considered in isolation or as substitutes for an analysis of our results as reported under GAAP. Our use of these terms may vary from the use of similarly-titled measures by others in our industry due to the potential inconsistencies in the method of calculation and differences due to items subject to interpretation.

Constant Currency PresentationWe evaluate our results of operations on both an as reported and a constant currency basis. The constant currency presentation, which is a non-GAAP measure, excludes the impact of fluctuations in foreign currency exchange rates. We believe providing constant currency information provides valuable supplemental information regarding our results of operations, thereby facilitating period-to-period comparisons of our business performance and is consistent with how management evaluates the company’s performance. We calculate constant currency percentages by converting our prior-period local currency financial results using the current period exchange rates and comparing these adjusted amounts to our current periodreported results. No adjustment has been made to foreign currency exchange transaction gains or losses in the calculation of constant currency net income.

Net Debt and Net Debt Leverage RatioThe net debt leverage ratio is defined as net debt (gross debt less cash and cash equivalents) as of the balance sheet date divided by Adjusted EBITDA for the twelve months then ended. Net debt and the net debt leverage ratio are commonly used metrics to evaluate and compare leverage between companies and are not presentations made in accordance with GAAP.

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CERTAIN NON-GAAP MEASURES(continued)

Adjusted EBITDA

We define Adjusted EBITDA as net income or loss from our consolidated statements of operations before interest income and expense, income taxes, depreciation and amortization, restructuring charges, stock-based compensation expense and other non-operating items from our consolidated statements of operations as well as certain other items that arise outside the ordinary course of our continuing operations. We use Adjusted EBITDA to measure our performance from period to period both at the consolidated level as well as within our operating segments, to evaluate and fund incentive compensation programs and to compare our results to those of our competitors.

Free Cash FlowWe define free cash flow as net cash provided by operating activities, plus contributions to the Nielsen Foundation, less capital expenditures, net. We believe providing free cash flow information provides valuable supplemental liquidity information regarding the cash flow that may be available for discretionary use by us in areas such as the distributions of dividends, repurchase of common stock, voluntary repayment of debt obligations or to fund our strategic initiatives, including acquisitions, if any. However, free cash flow does not represent residual cash flows entirely available for discretionary purposes; for example, the repayment of principal amounts borrowed is not deducted from free cash flow. Key limitations of the free cash flow measure include the assumptions that we will be able to refinance our existing debt when it matures and meet other cash flow obligations from financing activities, such as principal payments on debt. Free cash flow is not a presentation made in accordance with GAAP.

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2017E CORE BUY PORTFOLIO MIX

Core Measurement

Innovation

Everyday Analytics Core Measurement

Everyday Analytics‒ Price‒ Promotion‒ Assortment

Innovation‒ New product evaluation

~75%

~15%

~10%

2017E Growth Rates

Low Single Digits

Low to Mid Single Digits

Low to Mid Single Digits

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SELECTED FINANCIAL METRICS & BALANCE SHEET ITEMS($ in millions)

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ADJUSTED EBITDA RECONCILIATION($ in millions)

(a) For the twelve months ended December 31, 2016 and 2015, other items primarily consists of business optimization costsFor the twelve months ended December 31, 2011, other items primarily consists of sponsor termination fees and acquisition adjustments

2016 2015 2014 2013 2012 2011

Net income 502 570 384 740 273 84

(Income)/ loss from discontinued operations, net of tax - - - (305) (30) (26)

Interest expense, net 329 307 297 307 386 443

Provision / (benefit) for income taxes 309 383 236 91 122 6

Depreciation and amortization 603 574 573 510 493 502

EBITDA 1,743 1,834 1,490 1,343 1,244 1,009

Equity in net (income)/ loss of affiliates - 3 4 (2) (5) (3)

Other non-operating loss/(income), net 3 (170) 168 30 134 222

Restructuring charges 105 51 89 119 85 83

Stock-based compensation expense 51 48 47 47 34 27

Other items (a)36 92 39 80 12 112

Adjusted EBITDA $ 1,938 $ 1,858 $ 1,837 $ 1,617 $ 1,504 $ 1,450

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($ in millions)

2017 GUIDANCE NON-GAAP RECONCILIATIONS

NET DEBT LEVERAGE RATIO

Gross Debt ~$ 8,320

Cash ~$ 580

Net Debt ~$ 7,740

Adjusted EBITDA $2,030 - $2,050

Net Debt Leverage Ratio ~3.8x

FREE CASH FLOW

Net cash provided by operating activities ~$1,360

Less: Capital expenditures, net ~(460)

Free cash flow ~$900

ADJUSTED EBITDA RECONCILIATION

2017 Guidance Range

Net income $500 - $525

Interest expense, net $365 - $375

Provision for income taxes $310 – $330

Depreciation and amortization $665 – $675

Restructuring charges $60 – $70

Stock-based compensation and other $100 - $105

Adjusted EBITDA $2,030 - $2,050

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($ in millions)

2017 GUIDANCE NON-GAAP RECONCILIATIONS

2017 Guidance

Low% V Constant

Currency

2017 Guidance

High% V Constant

Currency2016 Constant

Currency

Total Revenue $6,578 5.0% $6,640 6.0% $6,265

Total Revenue Core $6,268 6.5% $6,326 7.5% $5,885

Total Revenue Core (ex. Gracenote)

$6,062 3.0% $6,120 4.0% $5,885

REVENUE RECONCILIATION

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WEIGHTED AVERAGE SHARES OUTSTANDING($ in millions except per share amounts. Year ended December 31 for all years)

Weighted-average shares of common stock outstanding as of December 31, basic

358,830,080 366,996,788 379,333,037 375,797,629 361,787,868 352,469,181

Dilutive shares of common stock from stock compensation plans

3,337,049 3,961,016 5,038,415 5,130,337 4,523,116 5,032,773

Shares of common stock convertible associated with the mandatory convertible

bonds

– – – 896,994 10,416,700 9,531,994

Weighted-average shares of common stock outstanding as of December 31, diluted

362,167,129 370,957,804 384,371,452 381,824,960 376,727,684 367,033,948

20112015 2013 201220142016

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FREE CASH FLOW RECONCILIATION($ in millions. Year ended December 31 for all years)

Net cash provided by operating activities $1,296 $1,209 $1,093 $901 $784 $641

Sponsor termination fee – – – – – 102

One-time Arbitron costs – – – 46 – –

Non-recurring contribution to the Nielsen Foundation 36 – – – – –

Capital expenditures, net (391) (401) (412) (374) (358) (367)

Free Cash Flow $941 $808 $681 $573 $426 $376

20112015 2013 201220142016

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NET DEBT AND NET DEBT LEVERAGE RATIO RECONCILIATION($ in millions. Year ended December 31 for all years)

Gross debt $7,926 $7,338 $6,812 $6,640 $6,296 $6,475

Less: cash and cash equivalents 754 357 273 564 288 319

Net debt $7,172 $6,981 $6,539 $6,076 $6,008 $6,156

Adjusted EBITDA $1,938 $1,858 $1,837 $1,734 $1,602 $1,546

Net debt leverage ratio 3.7x 3.8x 3.6x 3.5x 3.8x 4.0x

20112015 2013 201220142016

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WATCH RE-ORGANIZATION: IMPACT ON REVENUE

2016 2015 2014

Note: Figures are as reported, revenue growth in constant currency

Prior Segments Q1 Q2 Q3 YTD Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FYMarketing Effectiveness $ 67 $ 84 $ 87 $ 238 $ 52 $ 74 $ 68 $ 88 $ 282 $ 44 $ 62 $ 65 $ 68 $ 239 Audio 120 123 137 380 120 121 141 122 504 118 122 127 131 498 Audience Measurement 472 491 496 1,459 445 458 458 479 1,840 434 443 448 459 1,784 Other Watch 35 46 41 122 43 54 48 56 201 56 67 54 67 244 Total Watch $ 694 $ 744 $ 761 $ 2,199 $ 660 $ 707 $ 715 $ 745 $ 2,827 $ 652 $ 694 $ 694 $ 725 $ 2,765

Revised Segments Q1 Q2 Q3 YTD Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FYMarketing Effectiveness $ 58 $ 71 $ 75 $ 204 $ 48 $ 64 $ 61 $ 78 $ 251 $ 40 $ 56 $ 58 $ 61 $ 215 Audio 120 123 137 380 120 121 141 122 504 118 122 127 131 498 Audience Measurement 472 491 496 1,459 445 458 458 479 1,840 434 443 448 459 1,784 Core Watch 650 685 708 2,043 613 643 660 679 2,595 592 621 633 651 2,497 Corporate / Other Watch 44 59 53 156 47 64 55 66 232 60 73 61 74 268 Total Watch $ 694 $ 744 $ 761 $ 2,199 $ 660 $ 707 $ 715 $ 745 $ 2,827 $ 652 $ 694 $ 694 $ 725 $ 2,765

Revised Y/Y Growth Q1 Q2 Q3 YTD Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FYMarketing Effectiveness 20.8% 12.7% 25.0% 19.3% 26.3% 16.4% 8.9% 27.9% 19.5% 11.1% 5.7% 20.8% 19.6% 14.4%Audio 0.8% 1.7% -2.8% -0.3% 1.7% -0.8% 11.0% -6.9% 1.2% F F F -3.7% FAudience Measurement 7.5% 7.9% 8.5% 8.0% 5.5% 6.8% 5.8% 7.6% 6.4% 6.0% 6.5% 6.2% 6.5% 6.3%Core Watch 7.3% 7.2% 7.6% 7.4% 6.1% 6.1% 7.1% 6.6% 6.5% 33.0% 32.1% 34.7% 4.8% 24.5%Corporate / Other Watch -6.4% -7.8% -3.6% -6.0% -19.0% -8.6% -5.2% -7.0% -9.7% 1.7% 0.0% -7.6% -1.3% -1.8%

Total Watch 6.3% 5.8% 6.7% 6.3% 3.6% 4.7% 6.1% 5.2% 4.9% 29.4% 28.3% 29.2% 4.0% 21.3%

($ in millions)

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BUY RE-ORGANIZATION: IMPACT ON REVENUE

2016 2015 2014

Note: Figures are as reported, revenue growth in constant currency

Prior Segments Q1 Q2 Q3 YTD Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FYEmerging $ 243 $ 270 $ 267 $ 780 $ 249 $ 270 $ 253 $ 272 $ 1,044 $ 260 $ 286 $ 290 $ 297 $ 1,133

Developed 550 582 542 1,674 549 582 563 607 2,301 577 614 588 611 2,390 Total Buy $ 793 $ 852 $ 809 $ 2,454 $ 798 $ 852 $ 816 $ 879 $ 3,345 $ 837 $ 900 $ 878 $ 908 $ 3,523

Revised Segments Q1 Q2 Q3 YTD Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FYEmerging $ 243 $ 270 $ 267 $ 780 $ 249 $ 270 $ 253 $ 272 $ 1,044 $ 260 $ 286 $ 290 $ 297 $ 1,133

Developed 515 527 509 1,551 506 535 516 553 2,110 539 565 543 553 2,200 Core Buy 758 797 776 2,331 755 805 769 825 3,154 799 851 833 850 3,333

Corporate 35 55 33 123 43 47 47 54 191 38 49 45 58 190 Total Buy $ 793 $ 852 $ 809 $ 2,454 $ 798 $ 852 $ 816 $ 879 $ 3,345 $ 837 $ 900 $ 878 $ 908 $ 3,523

Revised Y/Y Growth Q1 Q2 Q3 YTD Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FYEmerging 10.0% 8.9% 8.5% 9.1% 10.2% 9.3% 6.3% 8.4% 8.5% 8.3% 9.2% 10.3% 10.0% 9.5%

Developed 3.8% -0.4% 0.0% 1.1% 2.2% 3.3% 2.8% 5.7% 3.5% 2.7% 3.7% -0.5% 0.9% 1.7%Core Buy 5.7% 2.6% 2.8% 3.6% 4.7% 5.2% 3.9% 6.6% 5.1% 4.4% 5.5% 3.0% 3.9% 4.2%

Corporate -18.6% 14.6% -29.8% -10.9% 13.2% -2.1% 6.8% -3.6% 2.7% 52.0% 81.5% 60.7% 65.7% 65.2%

Total Buy 4.3% 3.3% 0.9% 2.8% 5.1% 4.8% 4.1% 5.9% 5.0% 5.9% 7.9% 4.9% 6.4% 6.3%

($ in millions)

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