Alma Media Corporation Interim Report July 22, 2010 at 9:00am (EEST)

ALMA MEDIA CORPORATION’S INTERIM REPORT FOR APRIL-JUNE 2010:

NET SALES AT COMPARISON PERIOD LEVEL, OPERATING PROFIT SLIGHTLY DOWN

April-June 2010 in brief:

- Net sales MEUR 78.7 (79.3) declined 0.7% (-11.2%). Comparable net sales exceeded that
of the comparison period by MEUR 1.6 or 2.1%.

- Operating profit MEUR 10.9 (11.9), 13.8% (15.1%) of net sales, operating profit
without one-time items was MEUR 11.3 (12.2), declined 7.5%.

- Profit before taxes MEUR 11.0 (11.5), profit before taxes without one-time items MEUR
11.4 (11.8).

- Financial result for the period MEUR 7.8 (8.3), declined 5.2% (-29.9%).

- Earnings per share EUR 0.10 (0.11).

Outlook for 2010:

- Alma Media estimates its comparable net sales to increase moderately from the 2009
level as a result of gradual growth in media advertising. Comparable operating profit is
expected to remain close to the previous year’s level.

Kai Telanne, President and CEO:

No significant change for the better took place in the media advertising market in the
second quarter even though the market picked up somewhat toward the summer. During the
first six months of the year, the newspaper advertising market shrunk by 0.3% from the
comparison period. Online advertising continued to grow strongly, by 25.3%.

The advertising sales of Alma Media’s Newspapers segment grew only a little from the
comparison period figures despite the good sales results of Aamulehti and Lapin Kansa.
The circulation net sales of Newspapers decreased only slightly from the previous year’s
level thanks to price increases. The advertising sales of the Kauppalehti group picked
up clearly. The net sales of the Marketplaces segment continued to grow during the
second quarter as home sales and recruitment advertising increased.

In the second quarter, online advertising sales developed positively from the comparison
period. Growth was particularly strong in Kauppalehti.fi and Iltalehti.fi, as well as
Etuovi.com and Monster.fi. The share of online business grew to 16.1% of Alma Media’s
net sales.

The company’s second-quarter operating profit fell slightly behind that of the
comparison period due to net sales growth being slower than targeted, as well as an
increase in total costs. Total costs were pushed up by an increase in personnel costs,
due to salary agreements, and an IT expense of MEUR 0.3 recorded during the second
quarter but partly concerning earlier periods.

The company’s ongoing development projects, such as the preparations for the printing
facility investment in Tampere, the formation of the printing and distribution unit into
a new company, Alma Manu Oy, and the product and service reforms progressed as planned.
Alma Media and Arena Partners Oy, a newspaper development company operating in Central
Finland, started cooperation in the nationwide marketplace business. The competition
authority approved the arrangement on July 14, 2010.

More information:

Kai Telanne, President and CEO, telephone +358 10 665 3500

Tuomas Itkonen, CFO, telephone +358 10 665 2244

Conference, webcast and conference call:

The company will hold a conference in Finnish concerning its April-June results in the
“Carl” conference room of the Scandic Marski hotel at the address Mannerheimintie 10,
Helsinki, from 11:00am to 12:00 (EEST) on July 22, 2010. The results will be presented
by Kai Telanne, President and CEO, and Tuomas Itkonen, CFO. Presentation materials for
the event will be available on www.almamedia.fi/calendar from 11:00am.

A webcast and conference call in English will start at 2:00pm (EEST) on July 22, 2010.
To participate, please call +44 (0) 20 7806 1956 (confirmation code 7467715) or follow
the event online at www.almamedia.fi/investors.

Rauno Heinonen

Vice President Corporate Communications and IR

Alma Media Corporation

DISTRIBUTION: NASDAQ OMX Helsinki, principal media

ALMA MEDIA CORPORATION INTERIM REPORT APRIL 1-JUNE 30, 2010

The text part of this report focuses on the April-June results. The figures are compared
in accordance with the International Financial Reporting Standards (IFRS) with those of
the corresponding period in 2009, unless otherwise stated. The figures in the tables are
independently rounded.

GROUP KEY FIGURES

KEY FIGURES 2010 2009 Change 2010 2009 Change 2009 2008
MEUR Q2 Q2 % Q1-Q2 Q1-Q2 % Q1-Q4 Q1-Q4
Revenue 78,7 79,3 -0,7 153,1 155,8 -1,7 307,8 341,2
Operating profit 10,9 11,9 -9,1 19,1 18,5 3,5 41,4 48,3
% of revenue 13,8 15,1 12,5 11,8 13,5 14,2
Operating profit without one-time items 11,3 12,2 -7,5 19,6 19,7 -0,6 42,6 47,7
% of revenue 14,3 15,3 12,8 12,6 13,9 14,0
Profit before tax 11,0 11,5 -5,0 19,5 18,1 8,2 40,8 52,4
Profit without one-time items 11,4 11,8 -3,3 20,0 19,3 3,7 42,0 49,9
Profit for the period 7,8 8,3 -5,2 14,1 12,9 9,1 29,3 39,0
Return on Equity/ROE (Annual)* 46,7 52,6 -11,2 33,9 33,4 1,5 31,8 37,7
Return on Invets/ROI (Annual)* 45,0 38,3 17,5 33,1 28,7 15,3 29,1 34,8
Net financial expenses 0,0 0,0 -84,6 0,0 0,1 58,6 0,3 0,4
Net financial expenses, % of revenue 0,0 0,0 0,0 0,1 0,1 0,1
Share of profit of equity accounted investees 0,1 -0,4 -128,2 0,4 -0,3 -236,5 -0,3 4,5
Balance sheet total 151,6 156,0 151,6 156,0 -2,8 155,5 166,9
Gross capital expenditure 2,9 1,4 102,4 5,9 3,0 97,0 8,2 14,5
Gross capital expenditure, % of revenue 3,7 1,8 0,0 1,9 2,7 4,2
Equity ratio 64,9 58,4 64,9 58,4 67,2 57,2
Gearing, % -17,4 0,4 -17,4 0,4 -17,1 6,5
Interest-bearing net debt -14,5 0,3 -14,5 0,3 -4976,7 -16,5 5,8
Interest-bearing liabilities 4,3 14,7 4,3 14,7 -70,6 4,6 19,1
Non-interest-bearing liabilities 64,0 63,3 64,0 63,3 1,2 54,9 59,3
Average no. of personnel, calculated as full-time employees, excl. delivery staff 1 830 1 930 -5,2 1 784 1 932 -7,6 1 888 1 981
Average no. of delivery staff 1 001 998 0,3 970 968 0,3 969 968
Earnings/share, EUR (basic) 0,10 0,11 -7,2 0,19 0,17 7,8 0,39 0,51
Earnings/share, EUR (diluted) 0,10 0,11 -7,4 0,19 0,17 7,5 0,39 0,51
Cash flow from operating activities/share, EUR 0,09 0,05 62,8 0,39 0,40 -2,7 0,58 0,63
Shareholders’ equity/share, EUR 1,11 1,05 1,11 1,05 1,28 1,18
P/E Ratio 34,3 28,0 34,3 28,0 19,1 9,6
Market capitalization 480,3 362,6 480,3 362,6 32,5 558,1 369,3
Average no. of shares (1,000 shares)
– basic 74 852 74 613 74 733 74 613 74 613 74 613
– diluted 75 022 74 613 74 961 74 613 74 859 74 764
No. of shares at end of period (1,000 shares) 75 053 74 613 75 053 74 613 74 613 74 613

*see Main accounting principles of the Interim Report

GROUP NET SALES AND RESULT APRIL-JUNE 2010

The Group’s net sales from April to June 2010 totalled MEUR 78.7 (79.3), down 0.7% (down
11.2%). The comparable net sales exceeded the previous year’s level by MEUR 1.6 or 2.1%.
Online business accounted for 16.1% (12.8%) of consolidated net sales, MEUR 12.7 (10.1).
The operating profit in the period April-June was MEUR 10.9 (11.9). The second-quarter
operating profit without one-time items was MEUR 11.3 (12.2), declined 7.5% (- 15.3%)
from the comparison period. The operating margin was 13.8% (15.1%), operating margin
without one-time items declined to 14.3% (15.3%).

GROUP NET SALES AND RESULT JANUARY-JUNE 2010

The Group’s net sales from January to June 2010 totalled MEUR 153.1 (155.8), decline
1.7% (-10.1%). The comparable net sales exceeded the comparison period level by MEUR 1.9
or 1.3%. Online business accounted for 15.7% (13.3%) of consolidated net sales, being
MEUR 24.1 (20.6). The operating profit in January-June amounted to MEUR 19.1 (18.5). The
operating profit without one-time items was MEUR 19.6 (19.7), decline 0.6% (-24.2%) from
the comparison period. The operating margin was 12.5% (11.8%), operating margin without
one-time items rose slightly to 12.8% (12.6%).

The operating profit for January-June includes one-time items in the amount of MEUR 0.5
(1.2). The current year’s one-time expenses mainly consist of business restructuring
costs.

Net sales of the Newspapers segment in January-June were MEUR 107.6 (107.9). Net sales
of the segment’s advertising sales grew 0.7% (declined 13.8%) to MEUR 52.0 (51.7).
Circulation net sales for Newspapers decreased slightly to MEUR 54.0 (54.2). The
operating profit for Newspapers in January-June was MEUR 16.0 (14.5) and operating
profit without one-time items MEUR 16.1 (15.3).

Net sales of the Kauppalehti group were MEUR 28.5 (32.3). The decline in net sales was
mainly due to the comparison period’s figures including the net sales of MEUR 4.2 of
Kauppalehti 121 Oy, sold in November 2009. The segment’s advertising sales grew by MEUR
0.4 from the comparison period to MEUR 8.7 (8.3). Circulation sales remained almost at
the comparison period level, MEUR 7.3 (7.4). The operating profit for the Kauppalehti
group in January-June was MEUR 4.0 (2.1) and operating profit without one-time items
MEUR 4,0 (2,5).

Net sales of the Marketplaces segment were MEUR 15.8 (14.2). The operating profit of
Marketplaces was MEUR -0.7 (-0.4), without one-time items MEUR 0.0 (-0.4).

CHANGES IN GROUP STRUCTURE APRIL-JUNE 2010

The business operations of Tyrvään Sanomat Oy were transferred to Suomen
Paikallissanomat Oy, part of the Alma Media Group, in April 2010. The deal comprised two
local papers, Tyrvään Sanomat and Paikallissanomat, as well as the business operations
of the advertising agency Idea-Mainos.

Alma Media’s ownership in Kotikokki.net Oy rose from 40% to 65% in June, after which
this company will be reported as a subsidiary company under the Newspapers segment in
the consolidated financial statements.

In connection with the centralisation of the delivery and printing organisation a new
subsidiary Kiinteistö Oy Uusi Paino Oy was founded.

On March 29, 2010, Alma Media announced a restructuring measure concerning the
Marketplaces segment. According to the plan, Alma Media Corporation and the business
development company Arena Partners Oy, owned jointly by newspaper publishers operating
in Central Finland, will start cooperation in the national marketplaces business. The
cooperation will involve Arena Partners buying a 35% share of the Alma Media subsidiary
operating in the home sales, vehicle and consumer advertising marketplace businesses.
Simultaneously, Alma Media will purchase a 35% share of Arena Interactive, a subsidiary
of Arena Partners. The competition authority approved the arrangement on July 14, 2010.

OUTLOOK FOR 2010

Alma Media expects the single-copy sales of afternoon papers to continue their decline.
The circulations of regional and local papers are expected to decline moderately. The
circulation of Kauppalehti is expected to remain at the present level or decline
slightly. Advertising in newspapers is expected to grow moderately in 2010 in comparison
with the previous year. Online advertising is expected to clearly increase from the
previous year.

Alma Media expects its comparable net sales to increase moderately from the 2009 level
as a result of gradual growth in media advertising. Operating profit is expected to
remain close to the previous year’s level.

MARKET CONDITIONS

The Finnish GNP continued to shrink during the first quarter in 2010. As the previous
quarter’s growth figure was also preceded by a minus sign, the Finnish economy is
technically still in a recession. Estimates for the Finnish GNP growth in 2010 vary
widely. Estimates published during the second quarter predict GNP growth of 0 to 2.7% in
2010. According to preliminary information by Statistics Finland, the output of the
Finnish national economy grew by 2.9% in April 2010.

In the first quarter of 2010, the total volume of advertising increased by 0.7%. In the
first quarter, advertising decreased 1.5% in newspapers and increased 17.7% in online
media from the comparison period. In the second quarter, total advertising volume
increased 4.5%. Advertising in newspapers continued to decline, now -0.2%, and increased
32.9% in online media from the comparison period. The cumulative total volume of
advertising grew 2.7% during the first half of the year. Advertising in newspapers
declined 0.3% and in online media grew 25.3% in comparison with the same period in 2009.

BUSINESS SEGMENTS

The business segments are reported according to the Group’s new internal organisational
structure in this interim report. The segment structure was changed from the beginning
of 2010 when Alma Media’s printing and distribution operations were combined in a new
group unit. The new printing and distribution unit is reported separately from the
segments Newspapers, Kauppalehti group and Marketplaces as part of the Other operations
business segment.

After the change in the segment structure and composition, Alma Media has adjusted the
segments’ items for the comparison period 2009 according to the IFRS 8 Operating
Segments standard. These changes are detailed in the appendix to this interim report.
The stock exchange release “Change in the structure and composition of Alma Media’s
business segments” on April 27, 2010 presents the segments’ net sales and operating
profits, key indicators, the segments’ assets, liabilities and investments as well as a
summary of the effects of the changes regarding the financial years 2008 and 2009 for
the Newspapers, Kauppalehti group and Marketplaces segments according to both the old
and new segment compositions.

NET SALES AND OPERATING PROFIT BY SEGMENT

REVENUE BY SEGMENT, 2010 2009 Change 2010 2009 Change 2009
MEUR Q2 Q2 % Q1-Q2 Q1-Q2 % Q1-Q4
Newspapers
External 54,4 54,9 105,6 106,9 213,4
Inter-segments 1,0 0,6 2,1 1,0 2,1
Newspapers total 55,4 55,5 -0,1 107,6 107,9 -0,2 215,5

Kauppalehti Group
External 14,1 16,0 28,1 32,2 62,5
Inter-segments 0,3 0,0 0,4 0,1 0,3
Kauppalehti Group total 14,4 16,0 -10,0 28,5 32,3 -11,8 62,8

Marketplaces
External 8,3 7,1 16,0 14,2 27,0
Inter-segments -0,1 0,0 -0,1 0,0 0,0
Marketplace total 8,2 7,0 16,6 15,8 14,2 11,1 27,0

Others
External 1,8 1,4 3,5 2,6 4,8
Inter-segments 17,5 17,0 35,1 34,0 67,8
Others total 19,3 18,4 5,1 38,6 36,6 5,5 72,7

Elimination -18,7 -17,6 -37,4 -35,3 -70,2
Total 78,7 79,3 -0,7 153,1 155,8 -1,7 307,8

OPERATING PROFIT/LOSS BY SEGMENT, 2010 2009 Change 2010 2009 Change 2009
MEUR * Q2 Q2 % Q1-Q2 Q1-Q2 % Q1-Q4
Newspapers 9,2 9,2 -0,9 16,0 14,5 11,0 29,7
Kauppalehti Group 2,5 1,4 72,0 4,0 2,1 93,0 6,7
Marketplaces -0,7 -0,2 -200,3 -0,7 -0,4 -64,8 -0,7
Other operations -0,1 1,5 -108,4 -0,3 2,3 -111,4 5,7
Total 10,9 11,9 -9,1 19,1 18,5 3,5 41,4

*) incl. one-time items

NEWSPAPERS

NEWSPAPERS 2010 2009 Change 2010 2009 Change 2009
Key figures, MEUR Q2 Q2 % Q1-Q2 Q1-Q2 % Q1-Q4
Revenue 55,4 55,5 -0,1 107,6 107,9 -0,2 215,5
Circulation revenue 27,2 27,2 -0,1 54,0 54,2 -0,3 109,9
Media advertising revenue 27,4 27,3 0,5 52,0 51,7 0,7 101,3
Other revenue 0,8 1,0 -17,5 1,6 2,0 -23,4 4,4
Operating profit 9,2 9,2 -0,9 16,0 14,5 11,0 29,7
Operating profit, % 16,5 16,7 14,9 13,4 13,8
Operating profit without one-time items 9,2 9,4 -1,9 16,1 15,3 5,4 30,8
Operating profit without one-time items, % 16,5 16,8 15,0 14,2 14,3
Average no. of personnel, calculated as full-time employees excl. delivery staff 989 1 015 -3 953 1 015 -6 1 002
Average no. of delivery staff * 98 370 -74 98 370 -73 370
* Delivery operations of Satakunnan Kansa sold January 1 2010 to Aamujakelu Oy, which is reported in Other operations

2010 2009 2010 2009 2009
Operational key figures Q2 Q2 Q1-Q2 Q1-Q2 Q1-Q4
Audited circulation
Iltalehti 112 778
Aamulehti 135 293

Online services, unique visitors, weekly

2010 2009 2010 2009 2009

4-6
4-6
1-6
1-6
1-12
Iltalehti.fi 2 140 489 1 695 372 2 160 850 1 702 838 1 762 615
Telkku.com 601 926 569 955 620 390 582 994 580 989
Aamulehti.fi 263 980 183 412 269 479 188 915 207 978

The Newspapers segment reports the publishing activities of 35 newspapers. The largest
titles are Aamulehti and Iltalehti.

The second-quarter net sales for the Newspapers segment stayed at almost the previous
year’s level at MEUR 55.4 (55.5). Advertising sales in this segment increased 0.5% to
MEUR 27.4 (27.3). During the second quarter, advertising sales in printed media
increased for Aamulehti and Lapin Kansa while the advertising sales for other Alma Media
newspapers declined slightly due to the weak market development. Advertising sales for
the segment’s online business grew well from the comparison period. Advertising sales
for Iltalehti.fi had strong development and grew 56.4% (35.5%) from the comparison
period. Circulation net sales for Newspapers stayed at the comparison period’s level
during the second quarter, assisted by price increases. Single-copy sales of Iltalehti
declined approximately 8.6% (3.6%) during the second quarter, with the entire afternoon
paper market declining approximately 5.6% (4.6%).

The Newspapers segment’s second-quarter operating profit was MEUR 9.2 (9.2). Operating
profit without one-time items for the segment was MEUR 9.2 (9.4).

The business operations of Tyrvään Sanomat Oy were transferred to Suomen
Paikallissanomat Oy, part of Alma Media Corporation, in April 2010. The deal included
two local papers, Tyrvään Sanomat and Paikallissanomat, as well as the business
operations of the advertising agency Idea-Mainos. Since June 1, 2010, the acquired
newspapers are consolidated into one paper, the twice-weekly Tyrvään Sanomat. In June,
Alma Media increased its shareholding in Kotikokki.net Oy to 65%, and the company will
in future be reported as a subsidiary company in the Newspapers segment in Alma Media’s
consolidated financial statements.

KAUPPALEHTI GROUP

Kauppalehti group 2010 2009 Change 2010 2009 Change 2009
key figures, MEUR Q2 Q2 % Q1-Q2 Q1-Q2 % Q1-Q4
Revenue 14,4 16,0 -10,0 28,5 32,3 -11,8 62,8
Revenue without sold operations * 14,4 14,2 1,8 28,5 28,3 0,7 56,2
Circulation revenue 3,5 3,5 -0,7 7,3 7,4 -0,5 15,4
Media advertising revenue 4,5 4,0 12,9 8,7 8,3 4,4 16,3
Other Revenue 6,4 8,6 -25,8 12,5 16,7 -25,5 31,0
Operating profit 2,5 1,4 72,0 4,0 2,1 93,0 6,7
Operating profit, % 17,3 9,0 14,2 6,5 119,6 10,7
Operating profit without one-time items 2,5 1,6 60,2 4,0 2,5 64,2 6,7
Operating margin without one-time items, % 17,3 9,6 14,2 7,6 86,9 10,7
Average no. of personnel, calculated as full-time employees 441 490 -10 434 489 -11 477
* Kauppalehti 121 Oy sold at November 2009

2010 2009 2010 2009 2009
Operational key figures Q2 Q2 Q1-Q2 Q1-Q2 Q1-Q4
Audited circulation
Kauppalehti 78 731

Online services, unique visitors, weekly
Kauppalehti.fi 561 783 537 302 594 508 540 683 544 533

The Kauppalehti group specialises in the production of business and financial
information. Its best known title is Finland’s leading business paper, Kauppalehti. The
group also includes the contract publishing company Lehdentekijät, Suomen Business
Viestintä and the news agency and media monitoring unit BNS Group that operates in the
Baltic countries.

The net sales of the Kauppalehti group were MEUR 14.4 (16.0) in the second quarter. The
comparison period’s net sales include those of the sold Kauppalehti 121 Oy in the amount
of MEUR 2.0. Thanks to the stronger B-to-B advertising market, the advertising sales of
the Kauppalehti group grew to MEUR 4.5 (4.0) or 12.9%. Online advertising sales grew
29.1% (6.6%) from the comparison period. The segment’s circulation net sales remained at
the previous year’s level at MEUR 3.5 (3.5). In 2010, the circulation in number of
copies is expected to remain unchanged or decline slightly.

The number of visitors to the online service Kauppalehti.fi averaged 561,783 (537,302)
unique weekly visitors in the second quarter.

The operating profit for the Kauppalehti group was MEUR 2.5 (1.4). Operating profit
without one-time items was MEUR 2.5 (1.6).

MARKETPLACES

Marketplaces 2010 2009 Change 2010 2009 Change 2009
key figures, MEUR Q2 Q2 % Q1-Q2 Q1-Q2 % Q1-Q4
Revenue 8,2 7,0 16,6 15,8 14,2 11,1 27,0
Operations in Finland 7,0 5,9 19,1 13,5 11,9 13,5 22,4
Operations outside Finland 1,3 1,2 4,8 2,4 2,4 -0,1 4,7
Operating profit -0,7 -0,2 -200,3 -0,7 -0,4 -64,8 -0,7
Operating margin, % -8,2 -3,2 -4,4 -3,0 -48,4 -2,5
Operating profit without one-time items -0,1 -0,2 44,8 0,0 -0,4 92,8 -0,5
Operating margin without one-time items, % -1,5 -3,2 -0,2 -2,9 93,5 -2,0
Average no. of personnel, calculated as full-time employees 182 202 -10 181 216 -16 200

2010 2009 2010 2009 2009
Operational key figures Q2 Q2 Q1-Q2 Q1-Q2 Q1-Q4
Online services, unique visitors, weekly
Etuovi.com 412 600 348 487 411 381 350 077 354 826
Autotalli.com 90 192 92 106 95 282 96 705 96 872
Monster.fi 85 416 70 158 90 810 77 037 74 473
Mikko.fi 61 662 70 973 70 830 74 676 76 854
Mascus.com 179 611 118 392 190 258 122 972 135 272
City24 176 190 220 867 190 842 258 350 232 648
Bovision 91 685 112 875 104 387 109 895 110 266

The Marketplaces segment reports classified services produced on the internet and
supported by printed products. The services in Finland are Etuovi.com, Monster.fi,
Autotalli.com, Mascus.fi and Mikko.fi. The services outside Finland are Mascus and
Bovision, as well as City24 whose operations are being downsized.

In the second quarter of 2010, the net sales of Marketplaces was MEUR 8.2 (7.0) and grew
16.6% (-25.0%). The net sales growth mainly came from the increased net sales of the
Etuovi.com, Monster.fi and Mascus services.

The operating profit of the Marketplaces segment was MEUR -0.7 (-0.2). The operating
profit without one-time items was MEUR -0.1 (-0.2). The segment’s second-quarter
profitability was weakened by investments in product and service development.

Alma Media and the newspaper development company Arena Partners Oy operating in Central
Finland will start cooperation in the nationwide marketplaces business. The cooperation
will in future cover the Etuovi.com, Vuokraovi.com, Autotalli.com and Mikko.fi services.
The competition authority approved the arrangement on July 14, 2010.

The cooperation will have only a minor short-term effect on Alma Media’s financial
indicators. The 2009 total net sales of the services to be transferred to the new
company were MEUR 16.9.

OTHER OPERATIONS

Other operations 2010 2009 Change 2010 2009 Change 2009
key figures, MEUR Q2 Q2 % Q1-Q2 Q1-Q2 % Q1-Q4
Revenue 19,3 18,4 5,1 38,6 36,6 5,5 72,7
External 1,8 1,4 35,1 3,5 2,6 35,9 4,8
Inter-segments 17,5 17,0 2,7 35,1 34,0 3,2 67,8
Operating profit -0,1 1,5 -108,4 -0,3 2,3 -111,4 5,7
Operating profit, % -0,6 8,0 -0,7 6,4 -110,8 7,8
Operating profit without -0,3 1,5 -119,1 -0,6 2,3 -123,5 5,7
one-time items
Operating margin without -1,5 8,0 -1,4 6,4 -122,4 7,8
one-time items, %
Average no. of personnel, calculated as full-time employees 219 211 4 216 213 1 210
Average no. of delivery staff 903 623 45 872 598 46 599

The Other operations segment reports the operations of the Group’s parent company as
well as those of the printing and distribution unit. The financial characteristics of
both are similar as they primarily provide services for the other business segments. The
Group’s financial items and income taxes are not allocated to the segments.

ASSOCIATED COMPANIES

Share of profit of equity accounted investees 2010 2009 2010 2009 2009
MEUR Q2 Q2 Q1-Q2 Q1-Q2 Q1-Q4
Newspapers 0,1 0,0 0,1 0,0 0,1
Kauppalehti group
Talentum Oyj 0,1 -0,6 0,2 -0,7 -1,4
Marketplaces -0,0 -0,0
Other operations
Other equity accounted investeees -0,1 0,2 0,1 0,4 0,9
Total 0,1 -0,4 0,4 -0,3 -0,3

Alma Media Group holds a 32.14% stake in Talentum Oyj, which is reported under the
Kauppalehti group. The company’s own shares in the possession of Talentum are here
included in the total number of shares. In the consolidated financial statements of Alma
Media the own shares held by Talentum itself are not included in the total number of
shares. Alma Media’s shareholding in Talentum is stated as 32.64% in its consolidated
financial statements of December 31, 2009 and in this interim report.

BALANCE SHEET AND FINANCIAL POSITION

The consolidated balance sheet at the end of June 2010 stood at MEUR 151.6 (156.0). The
corporation’s equity ratio at the end of June was 64.9% (58.4%) and equity per share was
EUR 1.11 (1.05).

The consolidated cash flow from operations in January-June was MEUR 28.9 (29.5). Cash
flow before financing was MEUR 25.6 (27.7). Cash flow for capital expenditure was
affected primarily by the share acquisitions of Marknadspriser i Sverige AB, Kateetti Oy
and Kotikokki.net Oy, as well as the purchase of the business operations of Tyrvään
Sanomat.

The Group’s net debt at the end of June stood at MEUR -14.5 (0.3).

The Group currently has a MEUR 100.0 commercial paper programme in Finland under which
it is permitted to issue papers to a total amount of MEUR 0-100. The unused part of the
programme was MEUR 100.0 on June 30, 2010. In addition, the Group has a credit limit in
the amount of MEUR 50 for the period August 6, 2009-August 6, 2011, which on June 30,
2010 was totally unused.

CAPITAL EXPENDITURE

Alma Media Group’s capital expenditure in April-June totalled MEUR 2.9 (1.4). The
second-quarter capital expenditure comprised normal operational and replacement
investments, as well as share purchases.

Alma Media Corporation announced on December 17, 2009 that it had initiated preparations
for an investment aiming at the modernisation of its printing facilities in Tampere. The
Board of Directors decided to proceed with the initiative to the execution phase on
March 11, 2010. The total value of the investment will be EUR 50 million maximum. Most
of the investment will be carried out in 2011 and 2012. The new printing facility is
estimated to be operational in 2013. Due to the investment decision, the annual
depreciation on the existing printing press for the remainder of its estimated usage
will rise by MEUR 1.0 in the financial year 2010 and MEUR 1.2 in the financial years
2011 and 2012.

RISKS AND RISK MANAGEMENT

The purpose of Alma Media Corporation’s risk management activities is to continuously
evaluate and manage all opportunities, threats and risks in conjunction with the
company’s operations to enable the company to reach its set objectives and to secure
business continuity.

The risk management process identifies the risks, develops appropriate risk management
methods and regularly reports on risk issues to the risk management organisation. Risk
management is part of Alma Media’s internal audit function and thereby part of good
corporate governance. Written limits and processing methods are set for quantitative and
qualitative risks by the corporate risk management system.

The most critical strategic risks for Alma Media are a significant drop in the
readership of its publications, a decline in advertising sales and a significant
increase in distribution and delivery costs. Fluctuating economic cycles are reflected
on the development of advertising sales, which accounts for approximately half of the
corporation’s net sales. Developing businesses outside Finland, such as the Baltic
countries and other East European countries, include country-specific risks relating to
market development and economic growth.

In the long term, the media business will undergo changes along with the changes in
media consumption and technological developments. The Group’s strategic objective is to
meet this challenge through renewal and the development of new business operations in
online media. The most important operational risks are disturbances in information
technology systems and telecommunication, and an interruption of printing operations.

ADMINISTRATION

Alma Media Corporation’s ordinary Annual General Meeting (AGM) held on March 11, 2010
elected Lauri Helve, Kai Seikku, Erkki Solja, Kari Stadigh, Harri Suutari, Catharina
Stackelberg-Hammarén and Seppo Paatelainen members of the company’s Board of Directors.
In its constitutive meeting held after the Annual General Meeting, the Board of
Directors elected Kari Stadigh its Chairman and Seppo Paatelainen its Deputy Chairman.

The Board also elected the members of its committees. Kai Seikku, Erkki Solja, Catharina
Stackelberg-Hammarén and Harri Suutari as chairman were elected members of the Audit
Committee. Seppo Paatelainen and Lauri Helve, as well as Kari Stadigh as chairman, were
elected members of the Nomination and Compensation Committee.

Except for Kari Stadigh, the Board of Directors has evaluated the persons elected to the
Board of Directors to be independent of the company and its major shareholders. Kari
Stadigh is evaluated to be independent of the company but not independent of a
significant shareholder.

Mikko Korttila, General Counsel of Alma Media Corporation, was appointed secretary to
the Board of Directors.

The AGM appointed Ernst & Young Oy as the company’s auditors.

Oy Herttaässä Ab, a company holding more than 10% of the shares in Alma Media, proposed
to the AGM that a special audit should be conducted regarding the operations of the
Nomination and Compensation Committee of the Board of Directors of Alma Media
Corporation for the last five years. The AGM considered the proposal, and as the
shareholding of Oy Herttaässä Ab exceeds 10%, the proposal was recorded in the meeting
minutes. On April 15, 2010, Alma Media received notification that Oy Herttaässä Ab has
submitted an application for the special audit to the Regional State Administrative
Agency of Southern Finland. Alma Media has submitted its answer to the Regional State
Administrative Agency of Southern Finland.

In April, the shareholder Oy Herttaässä Ab requested the company to convene an
extraordinary general meeting. The Board of Directors received the request on April 23,
2010 and published a stock exchange release on the request on the same date. On May 21,
2010, Alma Media published a notice to the Extraordinary General Meeting to be held in
Helsinki on August 19, 2010. On June 30, 2010, Oy Herttaässä Ab owned 12.95% of Alma
Media Corporation’s shares.

Oy Herttaässä Ab has requested that the EGM consider the decision upon the printing
facility investment, as well as increasing the number of the members of and
complementing the Board of Directors. The letter of request is available in its entirety
on Alma Media Corporation’s website at www.almamedia.fi/egm.

Alma Media Corporation applies the Finnish Corporate Governance Code for listed
companies, issued by the Securities Market Association on October 20, 2008, in its
unaltered form. The statement on the company’s administration and control system, as
required by Recommendation 51 of the Code, is published separately.

DIVIDENDS

The Annual General Meeting on March 11, 2010 resolved to distribute a dividend of EUR
0.40 per share for the financial year 2009 in accordance with the proposal of the Board
of Directors. The dividend was paid on March 25, 2010 to shareholders who were
registered in Alma Media Corporation’s shareholder register maintained by Euroclear
Finland Oy on the record date, March 16, 2010.

The company paid a total of MEUR 29.8 (22.4) in dividends to its shareholders in March.

THE ALMA MEDIA SHARE

In April-June , altogether 2,092,057 Alma Media shares were traded at NASDAQ OMX
Helsinki Stock Exchange, representing 2.8% of the total number of shares. The closing
price of the Alma Media share at the end of the last trading day of the review period,
June 30, 2010, was EUR 6.40. The lowest quotation during the review period was EUR 6.36
and the highest EUR 7.49. Alma Media Corporation’s market capitalisation at the end of
the review period was MEUR 480.3.

The Annual General Meeting on March 11, 2010 decided to authorise the Board of Directors
to repurchase a maximum of 3,730,600 of the company’s shares, representing approximately
5% of all shares. The authorisation is valid until the next ordinary general meeting,
however no later than June 30, 2011.

OPTION RIGHTS

Option programme 2006

The annual general meeting held on March 8, 2006 decided on a stock option programme
under which a maximum of 1,920,000 options may be granted and these may be exercised to
subscribe to a maximum of 1,920,000 Alma Media Corporation’s shares with a book
countervalue of EUR 0.60 per share. The programme is an incentive and commitment system
for the company’s management. Of the total number of options, 640,000 were marked 2006A
(ALN1VEW106), 640,000 were marked 2006B (ALN1VEW206) and 640,000 were marked 2006C
(ALN1VEW306).

Share subscription periods and subscription prices:

2006A April 1, 2008-April 30, 2010, trade-weighted average share price Apr 1-May 31,
2006

2006B April 1, 2009-April 30, 2011, trade-weighted average share price Apr 1-May 31,
2007 and

2006C April 1, 2010-April 30, 2012, trade-weighted average share price Apr 1-May 31,
2008.

As authorised by the Annual General Meeting, the Board of Directors has granted 515,000
of the 2006A options. Altogether 75,000 of the 2006A options have been returned to the
company owing to the termination of employment contracts. In 2007 and 2008, Alma Media’s
Board of Directors decided to annul the 200,000 2006A option rights in the company’s
possession. By June 30, 2010, all of the 440,000 options had been either sold (242,263)
or used for share subscription (197.737). The subscription price of the A options was
EUR 4.88.

In 2007, the Board of Directors decided to issue a total of 515,000 options under the
2006B scheme to Group management. Altogether 50,000 of the 2006B options have been
returned to the company owing to the termination of employment contracts. After the
returned options, corporate management possesses a total of 465,000 2006B options. The
share subscription price under the 2006B option, EUR 9.85 per share was determined by
the trade-weighted average share price in public trading between April 1 and May 31,
2007. The subscription price of the 2006B options was reduced by the amount of dividend
payment in March 2008 (EUR 0.90 per share), by dividend payment in March 2009 (EUR 0.30
per share) to EUR 8.65 per share and by dividend payment in March 2010 (EUR 0.40 per
share) to EUR 8.25 per share. All of the 175,000 2006B option rights in the company’s
possession have been annulled. The options in the 2006B programme are traded in NASDAQ
OMX Helsinki Stock Exchange since April 1, 2009. No shares have been subscribed to by
June 30, 2010.

In 2008, the Board of Directors decided to issue 520,000 options under the 2006C
programme to Group management. Altogether 50,000 of the 2006C options have been returned
to the company owing to the termination of employment contracts. After the returned
options, corporate management possesses a total of 470,000 2006C options. The share
subscription price under the 2006C option, EUR 9.06 per share, was determined by the
trade-weighted average share price in public trading between April 1 and May 31, 2008.
The subscription price of the 2006C options was reduced by the amount of dividend
payment in March 2009 (EUR 0.30 per share) to EUR 8.76 per share and by dividend payment
in March 2010 (EUR 0.40 per share) to EUR 8.36 per share. All of the 170,000 2006C
option rights in the company’s possession have been annulled. The options in the 2006C
programme are traded in NASDAQ OMX Helsinki Stock Exchange since April 1, 2010.

If all the subscription rights are exercised, the programme will dilute the holdings of
the earlier shareholders by 1.25%.

Option programme 2009

The Annual General Meeting of Alma Media on March 11, 2009 decided, in accordance with
the proposal by the Board of Directors, to continue the incentive and commitment system
for Alma Media management through an option programme according to earlier principles
and decided to grant stock options to the key personnel of Alma Media Corporation and
its subsidiaries in the period 2009-2011. Altogether 2,130,000 stock options may be
granted, and these may be exercised to subscribe to a maximum of 2,130,000 Alma Media
shares, either new or in possession of Alma Media. Of the total number of options,
710,000 were marked 2009A (ALN1VEW309), 710,000 were marked 2009B (ALN1VEW209) and
710,000 were marked 2009C (ALNVEW109).

Share subscription periods and subscription prices:

2009A April 1, 2012-March 31, 2014, trade-weighted average share price Apr 1-30, 2009

2009B April 1, 2013-March 31, 2015, trade-weighted average share price Apr 1-30, 2010
and

2009C April 1, 2014-March 31, 2016, trade-weighted average share price Apr 1-30, 2011.

The Board of Directors of Alma Media Corporation decided in May 2009 to grant 640,000
option rights to corporate management under the 2009A programme. The company is in
possession of 70,000 2009A options. The subscription price of a 2009A option, EUR 5.21
per share, was determined by the trade-weighted average share price in public trading
between April 1 and April 30, 2009. The subscription price of the 2009A options was
reduced by the amount of dividend payment in March 2010 (EUR 0.40 per share) to EUR 4.81
per share.

The Board of Directors of Alma Media Corporation decided in April 2010 to grant 595,000
option rights to corporate management under the 2009B programme. The company is in
possession of 115,000 2009B options. The subscription price of a 2009B option, EUR 7.33
per share, was determined by the trade-weighted average share price in public trading
between April 1 and April 30, 2010.

If all the subscription rights are exercised, the programme will dilute the holdings of
the earlier shareholders by 2.84%.

The Board of Directors has no other current authorisations to raise convertible loans
and/or to raise the share capital through a new issue.

MARKET LIQUIDITY GUARANTEE

There is no market liquidity guarantee in effect for the Alma Media corporation share.

FLAGGING NOTICES

In April-June 2010, Alma Media has not received notices of changes in shareholdings
pursuant to Chapter 2, Section 9 of the Securities Markets Act.

EVENTS AFTER THE REVIEW PERIOD

Alma Media’s printing and distribution service unit was renamed Alma Manu Oy on July 1,
2010.

The district prosecutor of Helsinki has on July 1, 2010 decided to charge Mr Kai
Telanne, President and CEO of Alma Media, on suspicion of discrimination at work in
connection with the termination of the director contract of Ms Johanna Korhonen.

Alma Media and the newspaper development company Arena Partners Oy operating in Central
Finland will start cooperation in the nationwide marketplaces business. The competition
authority approved the arrangement on July 14, 2010.

Appendix 1. – SUMMARY OF FINANCIAL STATEMENT AND NOTES

2010 2009 Change 2010 2009 Change 2009
COMPREHENSIVE INCOME STATEMENT, MEUR Q2 Q2 % Q1-Q2 Q1-Q2 % Q1-Q4
REVENUE 78,7 79,3 -0,7 153,1 155,8 -1,7 307,8
Other operating income 0,3 0,1 201,6 0,3 0,2 73,6 0,9
Materials and services -22,5 -23,9 5,8 -45,0 -47,3 4,8 -93,1
Employee benefits expense -29,5 -28,5 -3,5 -58,1 -58,1 0,1 -112,3
Depreciation, amortization and -2,6 -2,2 -18,7 -4,8 -4,4 -9,7 -8,9
impairment
Other operating expenses -13,6 -12,9 -5,3 -26,3 -27,7 4,8 -53,0
OPERATING PROFIT 10,9 11,9 -9,1 19,1 18,5 3,5 41,4
Finance income 0,2 0,1 28,0 0,4 0,5 -11,3 0,6
Finance expenses -0,2 -0,1 -38,6 -0,4 -0,6 35,3 -1,0
Share of profit of equity accounted investees 0,1 -0,4 128,2 0,4 -0,3 236,5 -0,3
PROFIT BEFORE TAX 11,0 11,5 -5,0 19,5 18,1 8,2 40,8
Income tax -3,1 -3,3 4,3 -5,4 -5,1 -6,0 -11,4
PROFIT FOR THE PERIOD 7,8 8,3 -5,2 14,1 12,9 9,1 29,3

OTHER COMPREHENSIVE INCOME
Exchange difference on translation of foreign operations 0,2 -0,1 369,5 0,1 -0,1 255,6 0,5
Share of equity accounted investees’ other comprehensive income 0,1 0,5 -0,7 166,6 -0,4
Income tax relating to components of other comprehensive income
Other comprehensive income for the period, net of tax 0,4 -0,1 528,2 0,6 -0,8 0,2
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD 8,2 8,2 0,3 14,7 12,1 21,1 29,5

Profit for the period attributable to
Parent company shareholders 7,7 8,3 14,0 12,9 29,2
Non-controlling interest 0,1 -0,0 0,1 -0,0 0,1

Total comprehensive income for the period attributable to
Parent company 8,1 8,2 14,6 12,1 29,3
shareholders
Non-controlling interest 0,1 -0,0 0,1 -0,0 0,1

Earning/share calculated from the profit for the period
attributable to the parent company shareholders
Earnings/share, EUR 0,10 0,11 0,19 0,17 0,39
Earnings/share (diluted), EUR 0,10 0,11 0,19 0,17 0,39

BALANCE SHEET, MEUR 30 Jun 2010 30 Jun 2009 31 Dec 2009
ASSETS
NON-CURRENT ASSETS
Goodwill 30,3 32,9 28,2
Other intangible assets 10,6 11,8 10,4
Tangible assets 29,9 33,3 32,0
Investments in equity accounted investees 31,2 28,7 30,5
Other financial assets 5,2 4,4 4,5
Deferred tax assets 0,7 1,1 0,7

CURRENT ASSETS
Inventories 0,9 1,4 1,5
Current tax assets 0,3 1,6 0,0
Accounts receivable and other receivables 23,0 24,4 25,3
Other current financial assets 0,6 1,8 1,2
Cash and cash equivalents 18,8 14,4 21,1
ASSETS CLASSIFIED AS HELD FOR SALE 0,0 0,0 0,0
TOTAL ASSETS 151,6 156,0 155,5

BALANCE SHEET, MEUR 30 Jun 2010 30 Jun 2009 31 Dec 2009
SHAREHOLDERS’ EQUITY AND LIABILITIES
Share capital 45,0 44,8 44,8
Share premium fund 4,7 2,8 2,8
Foreign currency translation reserve -0,2 -0,9 -0,3
Retained earnings 33,4 31,3 48,5
Parent company shareholders’ equity 83,0 78,0 95,8
Non-controlling interest 0,2 0,0 0,2
TOTAL SHAREHOLDERS’ EQUITY 83,2 78,0 96,0

LIABILITIES
Non-current liabilities
Interest-bearing liabilities 2,7 3,3 2,8
Deferred tax liabilities 2,9 2,4 2,5
Pension obligations 2,9 3,5 3,1
Provisions 0,2 0,1 0,1
Other long-term liabilities 1,7 0,5 0,4
Current liabilities
Interest-bearing liabilities 1,7 11,3 1,8
Advances received 23,3 22,4 12,6
Current tax liabilities 0,0 0,0 1,6
Provisions 0,4 0,6 1,0
Accounts payable and other liabilities 32,7 33,8 33,7
TOTAL LIABILITIES 68,4 77,9 59,5
TOTAL EQUITY AND LIABILITIES 151,6 156,0 155,5

STATEMENT OF CHANGE IN EQUITY

Attributable to equity holders of the Parent
STATEMENT OF CHANGE IN EQUITY Jan 1 – 30 Jun 2010 A B C D E F G
MEUR
Equity Jan 1 2010 44,8 2,8 -0,3 48,5 95,8 0,2 96,0
Profit for the period 14,0 14,0 0,1 14,1
Other comprehensive income 0,1 0,5 0,6 0,6
Transactions with equity holders of the parent and non-controlling interest
Dividends paid by parent -29,8 -29,8 -29,8
Dividends paid by -0,2 -0,2
subsidiaries
Share-based payments 0,3 0,3 0,3
Excercised share options 0,3 1,9 2,1 2,1
Business combinations 0,1 0,1
Equity 30 Jun 2010 45,0 4,7 -0,2 33,4 83,0 0,2 83,2

Attributable to equity holders of the Parent
STATEMENT OF CHANGE IN EQUITYJan 1 – 30 Jun 2009 A B C D E F G
MEUR
Equity Jan 1 2009 44,8 2,8 -0,8 41,1 87,9 0,6 88,5
Profit for the period 12,9 12,9 12,9
Other comprehensive income -0,1 -0,7 -0,8 -0,8
Transactions with equity holders of the parent and non-controlling interest
Dividends paid by parent -22,4 -22,4 -22,4
Dividends paid by -0,6 -0,6
subsidiaries
Share-based payments 0,3 0,3 0,3
Equity 30 Jun 2009 44,8 2,8 -0,9 31,2 78,0 0,0 78,0

Column headings in Statement of Change in Equity

A = Share capital

B = Share premium fund

C = Translation difference

D = Retained earnings

E = Total

F = Non-controlling interest

G = Equity total

CASH FLOW STATEMENT

2010 2009 2010 2009 2009
CASH FLOW STATEMENT, MEUR Q2 Q2 Q1-Q2 Q1-Q2 Q1-Q4
Cash flow from operating activities
Profit for the period 7,8 8,3 14,1 12,9 29,3
Adjustments 5,0 5,3 9,1 9,3 19,5
Change in working capital -2,0 -6,9 12,1 9,1 -0,8
Dividend received 0,8 1,5 0,9 2,3 1,8
Interest received 0,0 0,1 0,1 0,5 0,4
Interest paid and other financial expenses -0,2 -0,1 -0,3 -0,6 -1,0
Income taxes paid -5,0 -4,1 -7,1 -3,9 -6,2
Net cash provided by operating activities 6,5 4,0 28,9 29,5 43,1

Cash flow from investing activities
Acquisitions of tangible and intangible assets -0,9 -0,9 -1,3 -1,7 -4,2
Proceeds from sale of tangible and intangible assets 0,0 0,0 0,0 0,0 0,0
Other investments 0,0 -0,1 0,0 -0,1 0,0
Proceeds from sale of other investments 0,0 0,1 0,0 0,1 2,0
Acquisition of subsidiary -1,2 0,0 -1,7 0,0 -0,8
Acquisition of equity accounted investees -0,2 -0,2 -0,3 -0,2 -2,5
Proceeds from sale of subsidiary 0,0 0,0 0,0 0,0 6,2
Net cash used in investing activities -2,3 -1,0 -3,3 -1,9 0,7

Cash flow before financing activities 4,2 2,9 25,6 27,7 43,9

Cash flow from financing activities
Proceeds from exercise of share options 2,1 0,0 2,1 0,0 0,0
Repayment of non-current loans 0,0 0,0 0,0 0,0 0,0
Current loans raised 0,0 0,0 0,0 17,8 17,8
Repayment of current loans -0,4 -21,0 -0,8 -22,5 -32,7
Change in interest-bearing receivables 0,5 1,1 0,7 1,1 1,7
Dividends paid 0,0 -0,6 -30,0 -23,0 -23,0
Cash flow from financing activities total 2,3 -20,4 -28,0 -26,6 -36,1

Change in cash and cash equivalent funds 6,4 -17,5 -2,4 1,1 7,7
(increase + / decrease -)
Cash and cash equivalents at start of period 12,3 31,8 21,1 13,3 13,3
Effect of change in foreign exchange rates 0,0 0,0 -0,1 0,0 -0,1
Cash and cash equivalents at end of period 18,8 14,4 18,8 14,4 21,1

ACQUIRED BUSINESSES APRIL 1-JUNE 30, 2010

During the review period, Alma Media acquired the business operations of Tyrvään Sanomat
and increased its shareholding in Kotikokki.net Oy from 40% to 65%. Kotikokki.net Oy has
earlier been consolidated as an associated company. The fair value of this earlier share
at time of purchase was MEUR 0.5 and the proceeds, MEUR 0.2, have been recorded in Other
income from business operations. The fair value of the total consideration transferred
from the companies in cash at time of purchase was MEUR 1.4, and there are no
conditional later considerations. Non-controlling interest at time of purchase was
recorded in the amount of MEUR 0.1, valued at an amount corresponding to the
proportional share of the non-controlling interest of the identifiable net assets of the
purchased company.

The fair value and gross amount of receivables acquired totalled MEUR 0.1. The most
important other assets and liabilities acquired comprised intangible assets, including
customer relations trademarks and technology at MEUR 0.8, cash at MEUR 0.2, and accounts
payable and other short-term liabilities at MEUR 0.1. The goodwill generated by the
acquisition, MEUR 1.2, was influenced by expected synergy benefits. Of the goodwill,
MEUR 0.6 is expected to be deductable from taxes. If the acquisition had been carried
out at the beginning of the year 2010, the Group’s revenue would be MEUR 0.6 more.

REVENUE BY GEOGRAPHICAL AREA

REVENUE BY GEOGRAPHICAL AREA, 2010 2009 2010 2009 2009
MEUR Q2 Q2 Q1-Q2 Q1-Q2 Q1-Q4
Finland 75,6 76,1 146,9 149,2 295,4
Rest of EU countries 2,9 3,1 5,7 6,2 11,9
Rest of other countries 0,2 0,1 0,5 0,3 0,5
Total 78,7 79,3 153,1 155,8 307,8

INFORMATION BY SEGMENT

The business segments of Alma Media are Newspapers, Kauppalehti group, Marketplaces and
Other operations. The descriptive section of the financial statements presents the
revenue and operating profits of the segments and the allocation of the associated
companies’ results to the reporting segments. Financial items and income taxes are not
allocated to the segments.

The following table presents the assets and liabilities by segment as well as the
non-allocated asset and liability items.

ASSETS BY SEGMENT, MEUR 30 Jun 2010 30 Jun 2009 31 Dec 2009
Newspapers 43,7 43,7 45,4
Kauppalehti Group 41,1 47,3 41,3
Marketplaces 14,2 13,3 13,0
Other operations 26,4 33,0 29,9
Non-allocated assets and 26,1 18,6 25,9
eliminations
Total 151,6 156,0 155,5

LIABILITIES BY SEGMENT, MEUR 30 Jun 2010 30 Jun 2009 31 Dec 2009
Newspapers 33,7 32,1 24,9
Kauppalehti Group 11,0 13,2 9,8
Marketplaces 5,1 3,5 3,5
Other operations 11,4 12,1 12,6
Non-allocated liabilities and 7,2 16,9 8,7
eliminations
Total 68,4 77,9 59,5

2010 2009 2010 2009 2009
GROUP CAPITAL EXPENDITURE, MEUR Q2 Q2 Q1-Q2 Q1-Q2 Q1-Q4
Newspapers 1,5 0,5 2,1 0,9 1,8
Kauppalehti Group 0,3 0,3 0,4 0,6 2,6
Marketplaces -1,3 0,3 0,5 0,5 0,7
Others 2,4 0,5 2,8 1,0 3,0
Total 2,9 1,5 5,9 3,0 8,2

PROVISIONS

The company’s provisions on June 30, 2010 totalled MEUR 0.5 (0.7). The major part of the
provisions concern restructuring provisions. It has not been necessary to change the
estimates made when the provisions were entered.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES, MEUR 30 Jun 2010 30 Jun 2009 31 Dec 2009
Other commitments
Commitments based on agreements 0,1 0,1 0,1

Minimum lease payments on other lease agreements:
Within one year 5,9 7,5 6,3
Within 1-5 years 13,1 18,8 15,2
After 5 years 25,0 26,5 19,9
Total 44,0 52,8 41,4

The Group also has purchase
agreements which based on IFRIC 4 which include a lease component per IAS 17. Minimum payments based on these agreements: 2,0 0,4

GROUP DERIVATIVE CONTRACTS, MEUR 30 Jun 2010 30 Jun 2009 31 Dec 2009
Commondity derivate contracts, electricity
derivatives
Fair value * 0,1 -0,1 -0,0
Nominal value 1,0 0,9 0,8
* The fair-value represents the return that would have arisen if the derivative had been cleared on the balance sheet date.

RELATED PARTIES

Alma Media Group’s related parties are associated companies and companies owned by them.
The following table summarises the business operations undertaken between Alma Media and
its associated companies and the status of their receivables and liabilities:

2010 2009 2010 2009 2009
RELATED PARTY TRANSACTIONS, MEUR Q2 Q2 Q1-Q2 Q1-Q2 Q1-Q4

Sales of goods and services 0,1 0,0 0,1 0,1 0,2
Purchases of goods and services 0,8 1,0 1,7 1,9 3,7
Accounts receivable, loan and other 0,0
receivables at the end of reporting period
Accounts payable at the reporting date 0,1 0,1 0,1

Related parties also include the company’s senior management (members of the Board of
Directors, presidents and the Group Executive Team). The section The Alma Media Share -
Option Rights of this report presents information on changes to the current option
programme intended to motivate and secure the long-term commitment of the Group’s senior
management.

MAIN ACCOUNTING PRINCIPLES (IFRS)

This interim report has been prepared according to IFRS standards (IAS 34).

The report applies the same accounting principles and calculation methods as the
previous annual accounts dated December 31, 2009, with the exception of the standards
and interpretations applied from January 1, 2010 as listed below. The interim report
does not, however, contain all the information or notes to the accounts included in the
annual financial statements. This interim report should therefore be read in conjunction
with the company’s annual report.

The key indicators are calculated using the same formulae as applied in the previous
annual financial statements. The quarterly percentages of Return on Investment (ROI) and
Return on Equity (ROE) have been annualised using the formula ((1+quarterly
return)4)-1). The figures in this interim report are independently rounded.

The accounting principles of the financial years 2010 and 2009 are comparable. The
company has no discontinued operations to report in the 2009-2010 financial periods. The
appendices summarise the information for the comparison periods by segment according to
both the new and the old segment structure.

The Group has applied the following standards and interpretations from January 1, 2010:

IFRS 3 (2008) Business Combinations

IAS 27 (2008) Consolidated and Separate Financial Statements

IAS 39 Financial Instruments: Recognition and Measurement – Eligible Hedged Items,
amended

IFRIC 17 Distributions of Non-cash Assets to Owners

IFRIC 18 Transfers of Assets from Customers

IFRS – Improvements to IFRSs (April 2009)

IFRS 2 Share-based Payment – Group Cash-settled Share-based Payment Transactions,
amended

The impact of the above new standards and IFRIC interpretations on the Group has been
marginal. The amendments to IFRS 3 have affected the accounting of corporate
acquisitions during the 2010 financial period, such as goodwill and costs related to the
acquisitions.

New accounting standards to be adopted from the beginning of 2011 or later are:

IFRS 9 Financial Instruments, Phase 1

IAS 24 Related Party Disclosures (new)

IAS 32 Financial Instruments: Presentation – Classification of Rights Issues (amendment)

IFRIC 14 IAS 19 – The Limit on a Defined Benefit Asset, Minimum Funding Requirements and
their Interaction

IFRIC 19 Extinguishing Financial Liabilities with Equity Instruments

The Group preliminarily expects that the above new standards and interpretations will
have only a minor effect.

The figures in this interim report are unaudited.

SEASONALITY

The Group recognises its circulation revenues as paid. For this reason circulation
revenues accrue in the income statement fairly evenly during the four quarters of the
year. The bulk of circulation invoicing takes place at the beginning of the year and
therefore the cash flow from operating activities is strongest in the first and second
quarters. This also affects the company’s balance sheet position in different quarters.

GENERAL STATEMENT

This report contains certain statements that are estimates based on the management’s
best knowledge at the time they were made. For this reason they contain a certain amount
of risk and uncertainty. The estimates may change in the event of significant changes in
the general economic conditions.

NEXT INTERIM REPORT

Alma Media will publish its financial statements for the first nine months of the year
on October 29, 2010 at 9:00am (EEST).

ALMA MEDIA CORPORATION

Board of Directors

ADJUSTMENT OF THE BUSINESS SEGMENT INFORMATION REGARDING FINANCIAL YEAR 2009

1 REVENUE AND OPERATING PROFIT/LOSS BY SEGMENT UNDER NEW SEGMENT STRUCTRE

REVENUE AND OPERATING PROFIT/LOSS BY SEGMENT
UNDER NEW SEGMENT STRUCTRE

2009

REVENUE BY SEGMENT, 2009 2009 2009 2009 2009
MEUR Q1 Q2 Q3 Q4 Q1-Q4
Newspapers
External 52.0 54.9 51.2 55.4 213.4
Inter-segments 0.4 0.6 0.5 0.5 2.1
Newspapers total 52.4 55.5 51.7 55.9 215.5

Kauppalehti Group
External 16.2 16.0 14.5 15.9 62.5
Inter-segments 0.1 0.0 0.1 -0.1 0.3
Kauppalehti Group total 16.2 16.0 14.6 15.8 62.8

Marketplaces
External 7.2 7.1 6.3 6.5 27.0
Inter-segments 0.0 0.0 0.0 0.0 0.0
Marketplace total 7.2 7.0 6.2 6.5 27.0

Others
External 1.2 1.4 1.1 1.1 4.8
Inter-segments 17.0 17.0 16.6 17.2 67.8
Others total 18.2 18.4 17.7 18.3 72.7

Elimination -17.6 -17.6 -17.2 -17.6 -70.2
Total 76.4 79.3 73.0 79.0 307.8

OPERATING PROFIT/LOSS BY SEGMENT, 2009 2009 2009 2009 2009
MEUR * Q1 Q2 Q3 Q4 Q1-Q4
Newspapers 5.2 9.2 6.5 8.8 29.7
Kauppalehti Group 0.6 1.4 2.3 2.3 6.7
Marketplaces -0.2 -0.2 0.0 -0.3 -0.7
Other operations 0.9 1.5 2.4 1.0 5.7
Total 6.5 12.0 11.1 11.8 41.4
*) incl. one-time items

REVENUE AND OPERATING PROFIT/LOSS BY SEGMENT
UNDER OLD SEGMENT STRUCTRE

2009

REVENUE BY SEGMENT, 2009 2009 2009 2009 2009
MEUR Q1 Q2 Q3 Q4 Q1-Q4
Newspapers
External 52.8 56.0 51.9 56.2 216.9
Inter-segments 1.1 1.1 1.1 1.1 4.4
Newspapers total 53.9 57.1 53.0 57.3 221.3

Kauppalehti Group
External 16.2 16.0 14.5 15.9 62.5
Inter-segments 0.1 0.1 0.1 -0.1 0.3
Kauppalehti Group total 16.2 16.0 14.6 15.8 62.8

Marketplaces
External 7.2 7.1 6.3 6.5 27.0
Inter-segments 0.0 0.0 0.0 0.0 0.0
Marketplace total 7.2 7.0 6.2 6.5 27.0

Others
External 0.4 0.3 0.4 0.3 1.4
Inter-segments 3.6 3.9 3.5 3.5 14.5
Others total 4.0 4.2 3.9 3.8 15.9

Elimination -4.9 -5.0 -4.7 -4.5 -19.2
Total 76.4 79.3 73.0 79.0 307.8

OPERATING PROFIT/LOSS BY SEGMENT, 2009 2009 2009 2009 2009
MEUR * Q1 Q2 Q3 Q4 Q1-Q4
Newspapers 6.9 11.1 8.8 10.5 37.3
Kauppalehti Group 0.6 1.4 2.3 2.3 6.7
Marketplaces -0.2 -0.2 0.0 -0.3 -0.7
Other operations -0.8 -0.3 0.0 -0.7 -1.9
Total 6.5 11.9 11.1 11.8 41.4
*) incl. one-time items

CHANGES IN REVENUE AND OPERATING PROFIT/LOSS
BY SEGMENT

2009

REVENUE BY SEGMENT, 2009 2009 2009 2009 2009
MEUR Q1 Q2 Q3 Q4 Q1-Q4
Newspapers
External -0.8 -1.1 -0.7 -0.8 -3.4
Inter-segments -0.7 -0.5 -0.5 -0.6 -2.3
Newspapers total -1.5 -1.6 -1.2 -1.4 -5.8

Kauppalehti Group
External 0.0 0.0 0.0 0.0 0.0
Inter-segments 0.0 0.0 0.0 0.0 0.0
Kauppalehti Group total 0.0 0.0 0.0 0.0 0.0

Marketplaces
External 0.0 0.0 0.0 0.0 0.0
Inter-segments 0.0 0.0 0.0 0.0 0.0
Marketplace total 0.0 0.0 0.0 0.0 0.0

Others
External 0.8 1.1 0.7 0.8 3.4
Inter-segments 13.4 13.1 13.1 13.7 53.3
Others total 14.2 14.2 13.8 14.5 56.7

Elimination -12.7 -12.6 -12.5 -13.1 -51.0
Total 0.0 0.0 0.0 0.0 0.0

OPERATING PROFIT/LOSS BY SEGMENT, 2009 2009 2009 2009 2009
MEUR * Q1 Q2 Q3 Q4 Q1-Q4
Newspapers -1.7 -1.8 -2.4 -1.7 -7.5
Kauppalehti Group 0.0 0.0 0.0 0.0 0.0
Marketplaces 0.0 0.0 0.0 0.0 0.0
Other operations 1.7 1.8 2.4 1.7 7.5
Total 0.0 0.0 0.0 0.0 0.0

1 KEY FIGURES BY SEGMENT

KEY FIGURES BY SEGMENT UNDER NEW SEGMENT STRUCTURE

2009

NEWSPAPERS 2009 2009 2009 2009 2009
Key figures, MEUR Q1 Q2 Q3 Q4 Q1-Q4
Revenue 52.4 55.5 51.7 55.9 215.5
Circulation revenue 26.9 27.2 28.5 27.2 109.9
Media advertising revenue 24.4 27.3 22.2 27.4 101.3
Other revenue 1.0 1.0 1.1 1.3 4.4
Operating profit 5.2 9.2 6.5 8.8 29.7
Operating profit, % 9.9 16.7 12.5 15.8 13.8
Operating profit without one-time items 5.9 9.4 6.9 8.6 30.8
Operating profit without one-time items, % 11.3 16.8 13.4 15.4 14.3
Average no. of personnel, 1,002 1,015 1,021 1,002 1,002
calculated as full-time
employees excl. delivery
staff
Average no. of delivery 365 370 377 370 370
staff

KAUPPALEHTI GROUP 2009 2009 2009 2009 2009
Key figures, MEUR Q1 Q2 Q3 Q4 Q1-Q4
Revenue 16.2 16.2 14.6 15.8 62.8
Circulation revenue 3.8 3.5 4.0 4.0 15.4
Media advertising revenue 4.3 4.0 3.0 5.0 16.3
Other Revenue 8.1 8.6 7.5 6.8 31.0
Operating profit 0.6 1.4 2.3 2.3 6.7
Operating profit, % 4.0 9.0 15.5 14.8 10.7
Operating profit without one-time items 0.9 1.6 2.3 2.0 6.7
Operating margin without one-time items, % 5.6 9.6 15.5 12.5 10.7
Average no. of personnel, 488 490 477 453 477
calculated as full-time
employees

MARKETPLACES 2009 2009 2009 2009 2009
Key figures, MEUR Q1 Q2 Q3 Q4 Q1-Q4
Revenue 7.2 7.0 6.2 6.5 27.0
Operations in Finland 6.0 5.9 5.2 5.4 22.4
Operations outside Finland 1.2 1.2 1.1 1.1 4.7
Operating profit -0.2 -0.2 0.0 -0.3 -0.7
Operating margin, % -2.8 -3.2 0.7 -4.3 -2.5
Operating profit without -0.2 -0.2 0.2 -0.3 -0.5
one-time items
Operating margin without -2.6 -3.2 2.4 -4.5 -2.0
one-time items, %
Average no. of personnel, 230 202 189 178 200
calculated as full-time
employees

KEY FIGURES BY SEGMENT UNDER OLD SEGMENT STRUCTURE

2009

NEWSPAPERS 2009 2009 2009 2009 2009
Key figures, MEUR Q1 Q2 Q3 Q4 Q1-Q4
Revenue 53.9 57.1 53.0 57.3 221.3
Circulation revenue 26.9 27.2 28.5 27.2 109.9
Media advertising revenue 24.4 27.3 22.2 27.4 101.3
Other revenue 2.5 2.6 2.3 2.7 10.2
Operating profit 6.9 11.1 8.8 10.5 37.3
Operating profit, % 12.8 19.4 16.7 18.3 16.8
Operating profit without one-time items 7.6 11.2 9.3 10.3 38.4
Operating profit without one-time items, % 14.1 19.6 17.5 17.9 17.3
Average no. of personnel, 1,152 1,176 1,185 1,084 1,149
calculated as full-time
employees excl. delivery
staff
Average no. of delivery 937 998 1,045 894 969
staff

KAUPPALEHTI GROUP 2009 2009 2009 2009 2009
Key figures, MEUR Q1 Q2 Q3 Q4 Q1-Q4
Revenue 16.2 16.0 14.6 15.8 62.8
Circulation revenue 5.9 5.6 5.9 6.1 23.5
Media advertising revenue 4.3 4.0 3.0 5.0 16.3
Other Revenue 6.0 6.4 5.6 4.7 23.0
Operating profit 0.6 1.4 2.3 2.3 6.7
Operating profit, % 4.0 9.0 15.5 14.8 10.7
Operating profit without 0.9 1.6 2.3 2.0 6.7
one-time items
Operating margin without 5.6 9.6 15.5 12.5 10.7
one-time items, %
Average no. of personnel, 488 490 477 453 477
calculated as full-time
employees

MARKETPLACES 2009 2009 2009 2009 2009
Key figures, MEUR Q1 Q2 Q3 Q4 Q1-Q4
Revenue 7.2 7.0 6.2 6.5 27.0
Operations in Finland 6.0 5.9 5.2 5.4 22.4
Operations outside Finland 1.2 1.1 1.1 1.1 4.7
Operating profit -0.2 -0.2 0.0 -0.3 -0.7
Operating margin, % -2.8 -3.2 0.7 -4.3 -2.5
Operating profit without -0.2 -0.2 0.2 -0.3 -0.5
one-time items
Operating margin without -2.8 -3.2 2.4 -4.5 -2.0
one-time items, %
Average no. of personnel, 230 202 189 178 200
calculated as full-time
employees

CHANGES IN KEY FIGURES BY SEGMENT

2009

NEWSPAPERS 2009 2009 2009 2009 2009
Key figures, MEUR Q1 Q2 Q3 Q4 Q1-Q4
Revenue -1.5 -1.6 -1.2 -1.4 -5.8
Circulation revenue 0.0 0.0 0.0 0.0 0.0
Media advertising revenue 0.0 0.0 0.0 0.0 0.0
Other revenue -1.5 -1.6 -1.2 -1.4 -5.8
Operating profit -1.7 -1.8 -2.4 -1.7 -7.5
Operating profit without one-time items -1.7 -1.8 -2.4 -1.7 -7.5
Average no. of personnel, -151 -161 -164 -82 -147
calculated as full-time
employees excl. delivery
staff
Average no. of delivery -573 -628 -668 -525 -599
staff

KAUPPALEHTI GROUP 2009 2009 2009 2009 2009
Key figures, MEUR Q1 Q2 Q3 Q4 Q1-Q4
Revenue 0.0 0.0 0.0 0.0 0.0
Circulation revenue -2.0 -2.2 -1.9 -2.1 -8.1
Media advertising revenue 0.0 0.0 0.0 0.0 0.0
Other Revenue 2.0 2.2 1.9 2.1 8.1
Operating profit 0.0 0.0 0.0 0.0 0.0
Operating profit without 0.0 0.0 0.0 0.0 0.0
one-time items
Average no. of personnel, 0 0 0 0 0
calculated as full-time
employees

MARKETPLACES 2009 2009 2009 2009 2009
Key figures, MEUR Q1 Q2 Q3 Q4 Q1-Q4
Revenue 0.0 0.0 0.0 0.0 0.0
Operations in Finland 0.0 0.0 0.0 0.0 0.0
Operations outside Finland 0.0 0.0 0.0 0.0 0.0
Operating profit 0.0 0.0 0.0 0.0 0.0
Operating profit without 0.0 0.0 0.0 0.0 0.0
one-time items
Average no. of personnel, 0 0 0 0 0
calculated as full-time
employees

1 ASSETS, LIABILITIES AND CAPITAL EXPENDITURE BY SEGMENT

ASSETS, LIABILITIES AND CAPITAL EXPENDITURE BY SEGMENT
UNDER NEW SEGMENT STRUCTRE

2009

ASSETS BY SEGMENT, MEUR Mar 31 2009 Jun 30 2009 Sep 30 2009 Dec 31 2009
Newspapers 44.0 43.7 43.6 45.4
Kauppalehti Group 53.7 47.3 49.6 41.3
Marketplaces 14.3 13.3 13.2 13.0
Other operations and 33.5 33.0 32.1 29.9
eliminations
Non-allocated assets 35.2 18.6 16.9 25.9
Total 180.7 156.0 155.4 155.5

LIABILITIES BY SEGMENT, MEUR Mar 31 2009 Jun 30 2009 Sep 30 2009 Dec 31 2009
Newspapers 36.8 32.1 27.2 24.9
Kauppalehti Group 15.9 13.2 11.4 9.8
Marketplaces 4.1 3.5 3.2 3.5
Other operations and 14.3 12.1 12.1 12.6
eliminations
Non-allocated liabilities 39.2 17.0 14.6 8.7
Total 110.4 77.9 68.6 59.5

GROUP CAPITAL EXPENDITURE, MEUR 2009 2009 2009 2009
Q1 Q2 Q3 Q4
Newspapers 0.5 0.5 0.7 0.2
Kauppalehti Group 0.3 0.3 0.1 1.9
Marketplaces 0.2 0.3 0.1 0.1
Others 0.6 0.5 1.2 0.8
Total 1.5 1.4 2.2 3.0

ASSETS, LIABILITIES AND CAPITAL EXPENDITURE BY SEGMENT
UNDER OLD SEGMENT STRUCTRE

2009

ASSETS BY SEGMENT, MEUR Mar 31 2009 Jun 30 2009 Sep 30 2009 Dec 31 2009
Newspapers 65.3 64.1 63.4 65.3
Kauppalehti Group 53.7 47.3 49.6 41.3
Marketplaces 14.3 13.3 13.2 13.0
Other operations and 12.2 12.6 12.3 10.0
eliminations
Non-allocated assets 35.2 18.6 16.9 25.9
Total 180.7 156.0 155.4 155.5

LIABILITIES BY SEGMENT, MEUR Mar 31 2009 Jun 30 2009 Sep 30 2009 Dec 31 2009
Newspapers 43.9 38.6 33.3 31.7
Kauppalehti Group 15.9 13.2 11.4 9.8
Marketplaces 4.1 3.5 3.2 3.5
Other operations and 7.3 5.6 6.1 5.8
eliminations
Non-allocated liabilities 39.2 17.0 14.6 8.7
Total 110.4 77.9 68.6 59.5

GROUP CAPITAL EXPENDITURE, MEUR 2009 2009 2009 2009
Q1 Q2 Q3 Q4
Newspapers 0.9 0.6 1.0 0.8
Kauppalehti Group 0.3 0.3 0.1 1.9
Marketplaces 0.2 0.3 0.1 0.1
Others 0.1 0.3 1.0 0.2
Total 1.5 1.4 2.2 3.0

CHANGES IN ASSETS, LIABILITIES AND CAPITAL EXPENDITURE
BY SEGMENT

2009

ASSETS BY SEGMENT, MEUR Mar 31 2009 Jun 30 2009 Sep 30 2009 Dec 31 2009
Newspapers -21.2 -20.4 -19.8 -19.9
Kauppalehti Group 0.0 0.0 0.0 0.0
Marketplaces 0.0 0.0 0.0 0.0
Other operations and 21.2 20.4 19.8 19.9
eliminations
Non-allocated assets 0.0 0.0 0.0 0.0
Total 0.0 0.0 0.0 0.0

LIABILITIES BY SEGMENT, MEUR Mar 31 2009 Jun 30 2009 Sep 30 2009 Dec 31 2009
Newspapers -7.1 -6.5 -6.0 -6.8
Kauppalehti Group 0.0 0.0 0.0 0.0
Marketplaces 0.0 0.0 0.0 0.0
Other operations and 7.1 6.5 6.0 6.8
eliminations
Non-allocated liabilities 0.0 0.0 0.0 0.0
Total 0.0 0.0 0.0 0.0

GROUP CAPITAL EXPENDITURE, MEUR 2009 2009 2009 2009
Q1 Q2 Q3 Q4
Newspapers -0.4 -0.2 -0.2 -0.6
Kauppalehti Group 0.0 0.0 0.0 0.0
Marketplaces 0.0 0.0 0.0 0.0
Others 0.4 0.2 0.2 0.6
Total 0.0 0.0 0.0 0.0

HUG#1433382

Alma Media Corporation’s Interim Report Q2 2010

http://hugin.info/3000/R/1433382/379248.pdf