Postmedia Network Canada Corp. J.P. Morgan Global High Yield & Leveraged

Finance Conference February 24, 2014

Forward-Looking Statements This presentation may include certain information that is “forward-looking information” under applicable Canadian securities laws and “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. The Company has tried, where possible, to identify such information and statements by using words such as “believe,” “expect,” “intend,” “estimate,” “anticipate,” “may,” “will,” “could,” “would,” “should” and similar expressions and derivations thereof in connection with any discussion of future events, trends or prospects or future operating or financial performance. Forward-looking statements in this presentation include statements with respect to the implementation and results of the Company’s transformation initiatives and the realization of anticipated cost savings.

By their nature, forward-looking information and statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. These risks and uncertainties include, among others, competition from other newspapers and alternative forms of media; the effect of economic conditions on advertising revenue; the ability of the Company to build out its digital media and online businesses; the failure to maintain current print and online newspaper readership and circulation levels; the realization of anticipated cost savings; possible damage to the reputation of the Company’s brands or trademarks; possible labour disruptions; possible environmental liabilities, litigation and pension plan obligations; not being able to refinance our ABL Facility on attractive terms or at all; fluctuations in foreign exchange rates and the prices of newsprint and other commodities. For a complete list of our risk factors please refer to the section entitled “Risk Factors” contained in our annual management’s discussion and analysis for the years ended August 31, 2013, 2012 and 2011, which can be found on the Company’s website at www.postmedia.com, on SEDAR at www.sedar.com or on the SEC’s website at www.sec.gov. Although the Company bases such information and statements on assumptions believed to be reasonable when made, they are not guarantees of future performance and actual results of operations, financial condition and liquidity, and developments in the industry in which the Company operates may differ materially from any such information and statements in this presentation.

Given these risks and uncertainties, undue reliance should not be placed on any forward-looking information or forward-looking statements, which speak only as of the date of such information or statements. Other than as required by law, the Company does not undertake, and specifically declines, any obligation to update such information or statements or to publicly announce the results of any revisions to any such information or statements.

Unless otherwise noted, all references to “$” are to Canadian dollars.

2

3

Our English-language paid daily newspapers have, in total, the highest weekly print readership when compared to other media organizations in Canada, reaching 4.2 million Canadians each week(1)

Digital properties with 6.1 million average monthly unique visitors(2), including newspaper sites ranked #1 in Canada that reach 31% of Canadian newspaper site visitors(2)

(1) Source: NADbank 2012 (2) Source: comScore, MediaMetrix, Total Canada, All Locations, Q1F’14 (3month Average Sept-Nov 2013)

• Multiple cost reduction initiatives successfully completed in 2010, 2011, and 2012

• Three-year transformation program initiated in Q3 of F2012 with target of eliminating 15% to 20% of operating costs

• As of November 30, 2013 implemented initiatives expected to yield net annualized cost savings of $87 million or approximately a 13% decrease in operating costs

• Shifting cost structure for higher margin digital environment

• #1 English news source in its key markets provides strong value proposition to advertisers for local, regional, and national reach

• Four platform strategy driving conversion from legacy printing business into a content engine offering customized bundles to both readers and advertisers

• Reinvesting in local news content within its markets and its already extensive portfolio of premium digital media, online and mobile assets

• Robust, enterprise-wide audience data analytics will drive sales approach

Company Highlights

4

• Attractive margins and modest capital expenditures continue to drive strong free cash flow

• Approximately $229 million of debt repaid since July 2010 (excluding repayments made on refinancing)

Transformation into

leading multi-platform content provider

Significant cost

savings opportunities

Strong free cash flow with track record of

debt repayment

• Management and Board of Directors have extensive industry experience • CEO Paul Godfrey is a respected figure in Canadian media with long-standing

relationships with key advertisers in major sectors such as auto and financial

Company Highlights

5

• Significant tangible asset base of owned real estate • Currently have three facilities being marketed for sale (Calgary, Edmonton and

Vancouver)

• Potential for additional asset sales to accelerate debt repayment

Substantial owned real estate value

Strong, well-respected

management team

INDUSTRY AND COMPETITION

Canada Newspaper Industry to Outpace U.S.

Source: PwC Global Entertainment and Media Outlook (June 2013)

• Canadian newspaper advertising market forecast to outperform the U.S. market over the next four years – Driven by greater growth in digital advertising segment and slower decline in traditional

print advertising

• Newspaper digital advertising market in Canada expected to grow to US$439 million by 2017 – Accelerated growth rate versus U.S. driven by less developed market in Canada

Newspaper Print Advertising Growth Newspaper Digital Advertising Growth

7

-10.0%

-8.0%

-6.0%

-4.0%

-2.0%

0.0%

2013 2014 2015 2016 2017United States Canada

U.S. CAGR: -7.9% Canada CAGR: -7.0%

0.0%

2.0%

4.0%

6.0%

8.0%

10.0%

12.0%

2013 2014 2015 2016 2017United States Canada

U.S. CAGR: 9.6% Canada CAGR: 10.8%

Internet #1 share of advertising spending

• Internet accounts for 31% and Newspapers account for 15% of advertising spend • Total advertising spend projected to grow about 4% annually for next three years

2013 Advertising Spending Segmentation Canadian Advertising Spending Forecast

Source: ZenithOptimedia Advertising Expenditure Forecasts, December 2013 Note: Internet includes Online and Mobile

8

9

Display Advertising represents 29% of all Canadian Internet Ad Revenue

Search $1.5 billion

43%

Display $998 million

29%

Classified $590 million

17%

Video $115 million

3%

Email $11 million

Mobile $240 million

7%

• Total 2013 Internet advertising revenue was $3.4 billion • Search and Display grew substantially in 2013 and collectively represent 72% of all Canadian Internet ad revenue

• Search +13% to $1.5 billion and Display +9% to $998 million • Classifieds increased only +1% in 2013 to $590 million from $584 million • Collectively, these three ad vehicles represent 89% of all Internet advertising booked in 2013 • Video advertising grew +25% from $92 million in 2012 to $115 million in 2013 • Mobile has leaped +50% to $240 million from $160 million in 2012

2013 Internet Revenue and %Share by Advertising Vehicle

0%

2%

4%

6%

8%

10%

12%

14%

16%

18%

$0

$1,000

$2,000

$3,000

$4,000

$5,000

$6,000

2011 2012 2013E 2014E 2015E 2016E

Y-o-

Y %

Cha

nge

C$m

illio

ns

Display Video Classified

Search Email Mobile

YoY Change

Source: ZenithOptimedia Advertising Expenditure Forecasts, December 2013 Note: Internet includes Online and Mobile

Newspaper Readership in Canada Still Strong

Source: NADbank 2012, top 19 markets Readership = 6/7 day Weekly Print + PDF cume

• Canadian newspaper print and website readership continues to grow despite strong competition from online news leaders – +8.9% growth from 2008

• Weekly newspaper print readership has been stable despite challenging economic and structural trends

• Website / digital properties enhancing 24/7 news capabilities

Weekly Print & Website Readership Growing (millions)

Weekly Print Readership Stable (millions)

10

Source: NADbank 2012, top 19 markets Readership = Weekly Print and Online (newspaper and hub websites)

CAGR: 0.7% CAGR: 1.7%

25

13

28

7

27

Postmedia daily newspapers reach 4.2 million Canadian adults each week

Toronto Star Network: Toronto Star, KW Record, Guelph Mercury and Hamilton Spectator Sun Media: Calgary Sun, Edmonton Sun, Winnipeg Sun, Toronto Sun and Ottawa Sun Metro Network: Metro - Vancouver, Calgary, Edmonton, Toronto, Ottawa and Halifax 24 Hours Network: 24 Hours - Vancouver, Toronto Postmedia Network owned properties: National Post, The Vancouver Sun, The Province, Calgary Herald, Edmonton Journal, Regina Leader-Post, The StarPhoenix (Saskatoon), The Windsor Star, Ottawa Citizen, The Gazette (Montreal)

(1) Source: NADbank 2012; For comparative purposes, Networks based on English language readership. Weekly Readership = print/pdf 6/7 day cumulative (cume) Postmedia, Sun Media, TorStar, Globe and Mail; 5-day print cume+6/7day pdf cume Metro and 24 Hours Base:, Postmedia Network owned properties , Sun Media (5 markets + 15 markets for Toronto Sun), Torstar (19 markets), Globe and Mail (48 markets), Metro (6 markets), 24 Hours (2 markets).

(2) Source: Newspapers Canada 2012 Circulation Data Report; Postmedia includes disposed properties. Based on Paid English Language Dailies, 33% share for Postmedia

Weekly Print/PDF Readership(1) – Adults 18+

The Postmedia Network Advantage

11

% Share of Total Paid Daily Circulation(2)

Other

4.2 Million

3.1 Million 3.0 Million 2.7 Million

2.5 Million

1.6 Million

Postmedia is #1 in Online Newspaper Audience

35% Reach

Newspaper Category

12

5,314

5,309

3,607

3,519

2,869

2,198

2,104

2,016

1,374

1,136

Postmedia Newspapers

Canoe Sun Media Newspapers

The Globe And Mail

Toronto Star

Mail Online

Transcontinental Digital LocalSolutions Group

The New York Times Brand

The Guardian

Telegraph Media Group

T365 - Tribune Newspapers

Postmedia Newspapers reach 31% of all Canadians

who visit newspaper websites

Unique Visitors (000) – Q1 F’14

Source: comScore, MediaMetrix, Total Canada, All Locations. Q1 = Sept/Oct/Nov 2013.

31% Reach

13

4,396

5,193

5,417

5,873

6,109

6,304

6,515

6,576

8,327

9,078

CTV

Torstar Digital

CNN Network

HPMG News

Postmedia Network

Pelmorex Media Inc. Weather

Yahoo-ABC News Network

About

CBC-Radio Canada Sites

Canoe

25% Reach Postmedia Newspapers

reach 25% of all Canadians who visit

Newspaper & Information websites

Unique Visitors (000) - Q1 F’14

News and Information Category

Postmedia is #6 in News & Information Category

Source: comScore, MediaMetrix, Total Canada, All Locations. Q1 = Sept/Oct/Nov 2013.

BUSINESS OVERVIEW

• Newspaper brands that reach as far back as 1778

• Daily newspapers, weekly community publications, magazines

• Multiplatform content delivery – web, smartphone, tablet, print

• 28 destination websites – news, sports, entertainment, business

• National news coverage – leveraging more than 900 journalists across the chain

• Editorial services operation – pagination, sports agate, comics

• Media monitoring B2B subscription service

• Print and digital sales representation

• Flyer distribution operations

Postmedia Network

15

Well-Established and Trusted Brands

16

#1 100% M.S.(1)

#2(1)

100% M.S.(1)

#1 100% M.S.

#1 100% M.S. #1

66% M.S.

#1 70% M.S.

#1 73% M.S.

#3(2)

100% M.S.

#1 100% M.S.

Note: Market shares represent local market share of paid daily newspapers (1) The Province and The Vancouver Sun, both of which are Postmedia Newspapers, which are second in their market to each other for circulation and readership, respectively (2) Number one among English-language paid daily newspapers, number three overall among paid daily newspapers

• Postmedia’s newspaper brands are woven into the fabric of the communities they serve, some for over a century • Each of the Corporation’s nine daily metropolitan newspapers has the highest circulation and readership among

English-language newspapers in the market that it serves (except for The Province and The Vancouver Sun, both of which are Postmedia Newspapers, which are second in their market to each other for circulation and readership, respectively)

• Brands include the Calgary Herald, Montreal Gazette and Vancouver Sun – 100% market share of paid daily English language newspapers in five of nine markets

• The National Post, one of Canada’s two daily national newspapers • Five community newspapers, serving areas in Southwestern Ontario

Strong and Diversified Revenue Base

Revenue by Type – F2013

Advertising Revenue Mix – F2013

17

National advertising

38%

Retail advertising 24%

Classified advertising

17%

Insert advertising 17%

Other advertising 4%

Print advertising

59%

Print circulation

26%

Digital 12%

Other 3%

Portfolio of Premium Digital Assets

18

Postmedia Network Sites

6.4 million UVs (2)

Ranks #6 in News & Information category

Infomart.ca

Approximately 1,000 subscribers(3)

3rd Party Sites Managed & Exclusive Ad Agreements

1.5 million UVs(2)

Newspaper sites 5.6 million monthly UVs

canada.com (site)

• Electronic resource of Canadian news and business information products

• Integrated monitoring of over 1,600 licensed news & broadcast sources, and hundreds of thousands of social media sources including blogs, online news, Twitter, YouTube, Facebook, and Forums)

• Postmedia owns and represents 22 destination websites and has exclusive advertising representation agreements with high-profile third party sites

• Postmedia Network sites’ audience of 6.4 million average monthly unique visitors (“UVs”) combined with third party sites of 1.5 million UVs for a net audience(1) of 7.2 million UVs

canada.com classifieds

(1) Number of individuals, households, etc., potentially exposed to a 'Media Vehicle' or 'Media Schedule' at least once using successive issues and/or broadcasts. Commonly termed 'Net Unduplicated Audience', 'Unduplicated Audience', 'Cumulative Audience', 'Cumulative Reach' or just 'Reach'.Those individuals exposed to more than one insertion are only counted once.

(2) Source: comScore, MediaMetrix, Total Canada, All Locations, Q4F’13 (3 month Average Jun-Aug 2013) (3) Source: Infomart customer database

Postmedia Newspaper websites have grown +73% since 2009

19

• Postmedia Newspaper sites reach over 5.3 million average monthly UVs in Q1F’14 • Versus F2013, Q1F’14 UVs have declined 6%

Source: comScore, MediaMetrix, Total Canada, All Locations, Postmedia Newspapers, Average Monthly Unique Visitor Trends Fiscal 2008 to Fiscal 2013 plus Q1 F’14

3,065

4,050

4,825 5,333

5,639 5,314

0

1,000

2,000

3,000

4,000

5,000

6,000

F2009 F2010 F2011 F2012 F2013 Q1 F14

Ave

rage

Mon

thly

Uni

que

Vis

itors

(000

)

+32%

+19% +11%

+5%

-6%

+73% Since 2009

20

Mobile Audience is growing Dramatically and Now Represents the Majority of Digital Traffic

• Mobile page views include smartphones, tablets and apps.

• Mobile page views now represent 65% of total traffic

• Traditional desktop traffic has plateaued as audiences shift rapidly to mobile devices.

Source: Omniture SiteCatalyst, average monthly PVs March 2013 – January 2014. Omniture data includes total Worldwide audience.

0

50

100

150

200

250

300

Q3 F'13 Q4 F'13 Q1 F14 Q2 F'14

Pag

e Vi

ews

(mill

ions

)

Desktop Mobile Total

BUSINESS STRATEGY

22

23

MONETIZE Capitalize on our audience-selling capabilities, leverage our audience engagement, build profitable relationships between advertisers and their targets, drive our All Access and Digital Access offerings with consumers.

Audience based selling

• Shift of sales focus from traditional sale of “impressions” to selling audience and results

• Development of deep audience database with full data analytics

• Aggressive digital growth through greater local client penetration, behavioural targeting, real-time bidding, video and mobile

• Proactive, key account strategy

• Complete implementation of customer relationship management system

• Redesign sales compensation plan to support new sales strategy

• Training/development to support new sales strategy

• Move towards a strategic and targeted subscriber acquisition model All Access & Digital Access Bundles

24

DIFFERENTIATE Create distinctive and differentiated products across four platforms (print, web, tablet & smartphone) leveraging their unique features and uses to deliver personalized experiences to specific audiences, with a strong focus on local content.

Content designed to connect with more audiences, in more meaningful ways, more times throughout the day.

Specific approach to storytelling that fits the unique attributes of the platform and device, the distinct characteristics of an audience, and the expectations of that audience given the time of day.

Launching new suite of products beginning in Q3 F14 in Ottawa.

25

ENGAGE Leverage our differentiated products and advanced audience analytics capabilities to create experiences that exceed the expectations of loyal subscribers, deepen relationships with engaged users, and create a following among urban Canadians.

THE ENGAGEMENT GOAL

26

How We’ll Get There

Engaged and Aligned Employees We will empower and engage employees by connecting their work directly to the audience and advertiser experience.

Efficient Cost Structure We will continue the transformation from the legacy processes and costs of a traditional newspaper publisher to the efficient, responsive systems and processes required of a competitive, multi-platform, modern media company.

FINANCIAL HIGHLIGHTS

LTM Operating Income before Depreciation, Amortization and Restructuring(1)

(C$ millions)

28

Revenue and Operating Income Performance

LTM Consolidated Revenue(1) (C$ millions)

(1) Postmedia adopted IFRS on September 1, 2011. For a full discussion of the impact of the transition to IFRS see the interim condensed consolidated financial statements and MD&A of Postmedia for the three months ended November 30, 2011 and 2010.

(2) Fiscal 2011 adjusted financial information is based on actual fiscal 2011 results adjusted to exclude the Disposed Properties (Times-Colonist, Vancouver Island Newspaper Group, and BC community newspapers).

$0

$200

$400

$600

$800

$1,000

$1,200

Q4F11

Q1F12

Q2F12

Q3F12

Q4F12

Q1F13

Q2F13

Q3F13

Q4F13

Q1F14(2)

$0

$50

$100

$150

$200

$250

$300

Q4F11

Q1F12

Q2F12

Q3F12

Q4F12

Q1F13

Q2F13

Q3F13

Q4F13

Q1F14

• Revenue environment remains challenging – expect to stabilize EBITDA in fiscal 2013 based on significant cost reductions

• Experienced modest EBITDA growth in December

(2)

$0

$200

$400

$600

$800

July 13,2010

Q4F10

Q4F11

Q4F12

Q4F13

Q1F14

Consolidated Debt (C$ millions)

Debt Repayment Record and FCF Generation

$0

$50

$100

$150

$200

Q4F11

Q1F12

Q2F12

Q3F12

Q4F12

Q1F13

Q2F13

Q3F13

Q4F13

Q1F14

LTM Cash Flow(2) (C$ millions)

(1) Represents a non-IFRS financial measure. Postmedia believes this measure is beneficial from the perspective of assessing the Company’s financial performance. However, non-IFRS financial measures do not have any standard definition prescribed under IFRS and as such may not be comparable to similar measures used by other companies.

(2) Cash flow defined as LTM Operating Income before Depreciation, Amortization and Restructuring less Capital Expenditures.

• Transformation has helped stabilize cash flow • Top priority for free cash flow(1,2) continues to be debt reduction • Pursuing additional real estate opportunities (Vancouver, Calgary and Edmonton)

to accelerate debt repayment • Approximately $229 million repaid since July 2010

29

Ongoing Reduction of Print Related Infrastructure

$520

$560

$600

$640

$680

$720

F2011 F2012 F2013 LTM Q1F2014

Ope

ratin

g C

osts

(C$

milli

ons)

Current Status of Transformation Program • The company successfully implemented over $50 million of operating cost reductions to the end of fiscal 2011

• In late fiscal 2012, initiated a new transformation program with target of eliminating additional 15% to 20% of operating costs over next 3 years

• As of November 30, 2013 the company has implemented net annualized savings of approximately $87 million or approximately 12.5% of net operating costs

Track Record of Cost Reduction (1)

30

(1) Financial information for periods prior to July 13, 2010 relate to Canwest Limited Partnership and for periods subsequent to July 13, 2010 relate to Postmedia Network Canada Corp. (“Postmedia” or the “Company”). Postmedia adopted IFRS on September 1, 2011. As a result, financial information for periods prior to F2011 have been prepared in accordance with Canadian GAAP - Part V and financial information for periods subsequent to F2010 have been prepared in accordance with IFRS. For a full discussion of the impact of the transition to IFRS see the consolidated financial statements and MD&A for the years ended August 31, 2012 and 2011.

(2) On November 30, 2011, the Company completed the sale of the Victoria Times Colonist, Vancouver Island Newspaper Group and certain community newspapers in British Columbia (the “Disposed Properties”) to affiliates of Glacier Media Inc. As a result of the sale, the Company has presented the results of the Disposed Properties as discontinued operations and as such the F2011 financial information has been revised to reflect this change in presentation.

Transformation Priorities Targeting operating cost reductions from F’14 to F’15 in the following areas:

i. Streamlining of organizational structure based on shift from geographic to functional focus.

ii. Ongoing centralization of common functions such as content production, marketing, newspaper layout and design, sales support, collections, and financial analysis and reporting.

iii. Outsourcing of non-strategic functions including production, technology hosting, and admin functions.

iv. Exploration of alternative print formats (tab vs. broadsheet). v. Ongoing optimization of distribution footprint as audience

migrates from print to digital products. vi. Monetization of real estate assets to accelerate debt repayment.

Surrey, BC Production 208,047 sq. ft.

Calgary, AB Combined Facilities 383,000 sq. ft.

Edmonton, AB Production 187,000 sq. ft. Saskatoon, SK

Combined Facilities 110,084 sq. ft.

Regina, SK Combined Facilities 102,537 sq. ft.

Ottawa, ON Combined Facilities 183,000 sq. ft.

Montreal, QC Production 165,000 sq. ft.

Owned Properties(1)

City Sq.ft.

1 Calgary, AB 383,000

2 Surrey, BC 208,047

3 Ottawa, ON 183,000

4 Edmonton, AB 187,000

5 Montreal, QC 165,000

6 Saskatoon, SK 110,884

7 Regina, SK 102,537

8 Windsor, ON 60,000

Total Owned 1,399,468

9 Edmonton, AB(1) 133,250(1)

Other Leased 359,685

Total 1,892,403

1

4

3 5

9

Edmonton, AB Office 133,250 sq. ft.

2

7

6

Significant Value in Real Estate

31

(1)

Summary of Facilities

(1) Edmonton, AB office is subject to a sale leaseback agreement, whereby Postmedia owns the land and space above and can repurchase the building in 2041.

8

Windsor, ON Production Facility 60,000 sq. ft.

Property currently for sale

$0

$1

$2

$3

$4

$5

$6

$7

$8

Q1F11

Q2F11

Q3F11

Q4F11

Q1F12

Q2F12

Q3F12

Q4F12

Q1F13

Q2F13

Q3F13

Q4F13

Q1F14

Capital Expenditures (C$ millions) • Priorities for capital investments include:

– Updated sales productivity technology (CRM)

– Development of new digital products to support 4-platform strategy (tablets/smartphones/websites)

– Development of integrated audience database analysis and targeting capabilities

– Technology infrastructure to support centralization efforts

• Continued reduction of capex related to legacy print business

Low Capital Expenditures Requirements

32

33

Capital Structure

Capitalization (C$ MM) at Nov 30,

2013 xLTM

EBITDA

Cash ($35.1) (0.28x)

$60.0 ABL Facility – 2014 - -

C$250.0 1st Lien Notes – 2017 $211.7 1.67x

Net First-Lien Secured Debt $176.6 1.39x

US$167.5 2nd Lien Notes(1) – 2018 (swapped) $173.4 1.36x

US$101.1 2nd Lien Notes(2) – 2018 (non-swapped) $111.2 0.88x

Net Debt $461.2 3.63x

Market Capitalization(3) $82.2 0.65x

Total Capitalization $543.4 4.28x

LTM EBITDA(4) $127.0

• Company has no maintenance covenants related to first or second lien notes

• Mandatory repayment of 1st lien notes is $12.5 million/year

• Currency exposure is limited to non-swapped portion of 2nd lien notes totaling US$101 million

Capitalization Table

(1) Translated at swapped rate of US$1.00 = C$1.035. (2) Translated at closing f/x rate on February 12, 2014. (3) Based on closing value of PNC.A and PNC.B shares on February 12, 2014. (4) Based on LTM Operating Income before Depreciation, Amortization and Restructuring as of November 30, 2013.

www.postmedia.com/investors/presentations @postmedianet