Hawkeye Acquisition 8K Other Events | MDP 4 Jun 10

JP Morgan Investor Dinner

New York City

June 3, 2010

Safe Harbor

This presentation and management’s public commentary contain certain forward-looking statements
that are subject to risks and uncertainties. These statements are based on management’s current
knowledge and estimates of factors affecting the Company’s operations. Statements in this presentation
that are forward-looking include, but are not limited to, the statements regarding broadcast pacings,
publishing advertising revenues, as well as any guidance related to the Company’s financial
performance.

Actual results may differ materially from those currently anticipated. Factors that could adversely affect
future results include, but are not limited to, downturns in national and/or local economies; a softening of
the domestic advertising market; world, national, or local events that could disrupt broadcast television;
increased consolidation among major advertisers or other events depressing the level of advertising
spending; the unexpected loss or insolvency of one or more major clients; the integration of acquired
businesses; changes in consumer reading, purchasing and/or television viewing patterns; increases in
paper, postage, printing, or syndicated programming costs; changes in television network affiliation
agreements; technological developments affecting products or the methods of distribution; changes in
government regulations affecting the Company’s industries; unexpected changes in interest rates; and
the consequences of any acquisitions and/or dispositions. The Company undertakes no obligation to
update any forward-looking statement, whether as a result of new information, future events, or
otherwise.

Broad Media and Marketing Footprint

National
Media Brands

Meredith
Integrated
Marketing

Local Media
Brands

Revenues:

$960 million

Revenues:

$175 million

Revenues:

$275 million

Five Things to Know About Meredith

1. The largest media company serving U.S. women

• Reach 75 million women who make the majority of household
purchasing decisions, regardless of economic climate

Agenda

Her Family

Her Home

Her Self

Delivering The Largest Adult Female Audience

Five Things to Know About Meredith

1. The largest media company serving U.S. women

2. Strong consumer connection across multiple platforms

• Magazines, Internet, Television, Retail, Mobile

Agenda

Growing Readership

Source: Spring 2000 & 2010 MRI Reports

* Traditional Home and Midwest Living

	2000	2010
Better Homes and Gardens	34	40
Family Circle	21	19
Parents	12	16
Ladies’ Home Journal	15	13
Fitness	6	7
American Baby	6	7
More	NA	2
Other*	6	9
TOTAL	100	113

+13%

Readership in Millions

Growing Online Consumer Connection

Source: Meredith, in millions

National Media Group Average Monthly Unique Visitors

33% CAGR

220

260

270

380

400

Increased Hours of Locally Produced News Programming

Morning news hours up 40% over 5 years

Adding 4 p.m. news across group

Building 24-hour multi-platform news culture

Growing Presence in Brand Licensing

– Sales meeting expectations

– SKUs doubled to 2,000 from prior year

– Introduced line of paint

– Expanded to Canada

Garden

Interior decor

Canada

Paint

Meredith’s Approach to Mobile for Consumers

• Smart device adoption rate growing

• Early-adopter marketers showing interest

Trends we see:

• Business to business:

- Developing mobile apps, web sites and marketing
campaigns for corporate clients

• Business to consumer:

- Launching mobile versions of our brands

- Next Issue Media initiative among publishers

- Pearl initiative among broadcasters

What we’re doing (two-pronged approach):

Five Things to Know About Meredith

1. The largest media company serving U.S. women

• Multi-platform assets are a competitive advantage

Agenda

Online: Meredith
Women’s Network

Magazines: Home, Family,
Health & Well-being

Consumer Events

Custom Marketing

Database Marketing

Video Studios

Brand Licensing

Emphasize 360° Marketing Approach

Mobile

E-Reader

Improving Advertising Performance

Quarter ended	Total Meredith Advertising
6/30/09	(14.9)%
9/30/09	(9.5)%
12/31/09	(6.9)%
3/31/10	+8.1%
6/30/10*	+7 to 8%

* = Forecast

Source: Publishers Information Bureau (April - March issues)

Magazine Advertising Revenue Performance

Trailing 12 Months

Meredith

Time, Inc.

Martha Stewart

Readers Digest

Hachette

Rodale

Hearst

Industry

Conde Nast

(4)%

(5)%

(6)%

(10)%

(11)%

(15)%

(21)%

Quarter ended	Meredith PIB	Industry PIB	Variance (pct pts)
3/31/09	(1.3)%	(21.5)%	+20.2
6/30/09	3.2%	(20.9)%	+24.1
9/30/09	10.5%	(18.3)%	+28.8
12/31/09	10.7%	(8.6)%	+19.3
3/31/10	9.0%	(1.4)%	+10.5

Source: Publishers Information Bureau

National Media Advertising Performance vs. Industry

Year-over-Year Comparison

	% of Total Revenues		Trailing 12 months Category Performance
	Meredith	Industry	Meredith	Industry
Food-Beverage	23%	13%	15%	3%
Toiletries & Cosmetics	13%	13%	21%	Flat
DTC Pharma	12%	6%	26%	Flat
Retail	7%	7%	12%	(16)%
Home	6%	3%	(4)%	(20)%
Media-Entertainment	6%	9%	(6)%	(16)%
Direct Response	5%	7%	(14)%	(18)%
Non-DTC Pharma	5%	4%	(19)%	(16)%
Household Supplies	5%	2%	14%	9%
Business-Finance	4%	8%	8%	(23)%

Meredith Top 10 Ad Category Revenues vs. Industry

Source: Publishers Information Bureau (trailing 4 quarters)

	% of Total Revenues		Industry Category Performance
	Industry	Meredith	1-Year	2-Year
Toiletries & Cosmetics	13%	13%	Flat	(4)%
Food-Beverage	13%	23%	3%	(12)%
Media-Entertainment	9%	6%	(16)%	(21)%
Business-Finance	8%	4%	(23)%	(37)%
Apparel	8%	2%	(23)%	(32)%
Retail	7%	7%	(16)%	(27)%
Direct Response	7%	5%	(18)%	(30)%
DTC Pharma	6%	12%	Flat	(25)%
Automotive	6%	2%	(19)%	(40)%
Non-DTC Pharma	4%	5%	(16)%	(18)%

Source: Publishers Information Bureau (trailing 4 quarters)

Industry Top 10 Ad Category Revenues vs. Meredith

Source: Television Bureau of Advertising

Spot only revenue

Local Media Non-Political Ad Performance vs. Industry

Year-over-Year Comparison

Quarter ended	Meredith Internal	Industry TvB	Variance (pct pts)
6/30/09	(25)%	(25)%	--
9/30/09	(13)%	(19)%	+6
12/31/09	5%	4%	+1
3/31/10	17%	16%	+1

Source Meredith

•Pacings at 4/27/10

Spot only

Local Media Non-Political Ad Category Performance

Category	Quarter ended 6/30/09	Quarter ended 9/30/09	Quarter ended 12/31/09	Quarter ended 3/31/10	Quarter ended 6/30/10*
Auto	(57)%	(39)%	(6)%	61%	75%
Prof. Srvs.	(12)%	1%	7%	11%	10%
Restaurants	(14)%	(5)%	(7)%	3%	(1)%
Furnishings	(15)%	(12)%	(15)%	(1)%	13%
Retail	(21)%	(20)%	13%	39%	41%
Total	(26)%	(13)%	5%	17%	Up high teens

Year-over-Year Comparison

Election Year Outlook Bright

Governor races:

• Open seats in CT, GA, KS, MI, OR, SC, TN,

• Incumbents facing tough races in AZ, MA, NV

Senate races:

• Open seats in CT, KS, MO

• Incumbents facing tough races in AZ, NC, NV

House races:

• Open seats in AZ, KS, TN, WA

• Incumbents facing tough races in CT, KS, MO, NV

Advertising Summary: Environment Strengthening

Magazines:

• Have significantly outperformed industry for 5-straight quarters

• Driven by favorable category mix and better execution

• Strong comparables and anticipated rebound in weaker categories will
likely move near-term industry performance ahead of Meredith

Television:

• Have delivered strong growth and tracked above industry

• Automotive is central to recovery but other categories are rebounding

• Expect strong political advertising season - Fall 2010

Five Things to Know About Meredith

1. The largest media company serving U.S. women

• Revenues more than doubled in five years

Agenda

Marketing Services Industry Spending Growing

Forecast

$ in billions; Source: VSS September 2009

Database

Mobile

Digital

Word of
mouth

Healthcare

Assembling Array of Custom Marketing Capabilities

24% CAGR

$ in millions

Delivering Strong Revenue Growth Over Time

iFood Assistant

Database

Digital Magazine

Video

Magazines

Emails

Social Marketing

Online

Case Study: Evolution of the Kraft CRM

Five Things to Know About Meredith

1. The largest media company serving U.S. women

5. Strong balance sheet and financial position

• Strong cash flow, low debt and consistent dividend growth

Agenda

Fiscal Third Quarter Highlights

	Quarter ended 3/31/10	Quarter ended 3/31/09	% var
Total Company revenue	$353	$338	+5%
Operating Profit	$56	$43	+30%
Operating Profit Margin	16%	13%	+300 bps
Earnings per share	$0.73*	$0.56	+30%

In millions except per share data and profit margin

* Includes a benefit of $0.04 from special items, primarily the
resolution of an income tax contingency

Consistently Generate Strong Cash Flow

12% CAGR

$ in millions; fiscal years

$131

$160

$163

$171

$194

$211

$256

$181

200

Stock Option Exercises

$1,800

Utilization of Cash

100

Net Debt

300

Capital Expenditures

600

Acquisitions, Net of Dispositions

$1,800

Available Cash

$1,600

Operating Cash Flow

200

Dividends

$ in millions

$600

Share Repurchases

$800

SUBTOTAL

Use of Cash: Fiscal 2001 through 2009

$ in millions; fiscal years
Assumes revolving facilities are renewed upon expiration.

Consistent Debt Reduction

$130

Illustration of Meredith’s debt balance
assuming current maturity schedule

$305

$205

$485

$155

$255

$380

Track Record of Dividend Increases

12% CAGR

Calendar years

	Quarter ended 6/30/10
Total Company advertising revenue	+7 to 8%
National Media advertising revenue	Flat to up Slightly
Local Media advertising revenue	Up high teens
Earnings per share*	$0.61 to $0.66