J.P. Morgan High Yield & Leveraged Finance Conference February 28, 2012

Paul V. Godfrey President & Chief Executive Officer

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. 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; 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 & analysis for the year ended August 31, 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.

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• Newspaper brands that reach as far back as 1778

• Daily newspapers, weekly community publications, magazines

• Multiplatform content delivery – web, smart phone, tablet, print

• 50+ destination websites – news, sports, entertainment, business

• National News Service – approximately 1,000 journalists across the chain

• Editorial services operation – pagination, sports agate, comics

• Media monitoring B2B subscription service

• Print and digital sales representation

• Flyer distribution operations

• Daily Deals Website

Postmedia Network

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Well-Established and Trusted Brands

• Postmedia’s newspaper brands are woven into the fabric of the communities they serve, some for over a century

• 9 daily metropolitan newspapers, which are each #1 in the markets they serve » Brands include the Calgary Herald, Montreal Gazette and Vancouver Sun

• The National Post, one of Canada’s two daily national newspapers, focused on key urban markets • 5 community mastheads, serving areas of Southwestern Ontario

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• Largest publisher of English-language paid daily newspapers by circulation in Canada with marquee brands

• Postmedia’s metro daily newspapers are #1 English-language dailies in terms of reach and revenue in each of the markets they serve

Leading English news source in its key markets

Significant cost-savings opportunities

• Multiple cost reduction initiatives successfully completed in 2010 and 2011 • Continue to implement additional cost-saving opportunities in 2012

Large and growing digital media and online business

• Extensive portfolio of premium digital media and online assets • Number of unique visitors to daily newspaper websites continues to grow

Strong free cash flow • Attractive margins and modest capital expenditures drive strong free cash flow • Enhanced stability through geographically diverse revenue base

Positioned for future growth

• Continued focus on online revenue growth and Digital First strategy • Cost initiatives position Postmedia to drive growth in profitability with economic

recovery

Strong, well-respected management team

• Strong management team of experienced industry veterans • Board of Directors with extensive experience in the media sector

Postmedia Network – Key Company Highlights

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(1)

(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.

Our Reach

• Along with owned properties, Postmedia provides sales representation for other newspapers, community publications and online brands

Note: Numbers above represent Postmedia Network audiences and third party properties represented through advertising sales agreements. Total ‘net’ reach was achieved using internal calculations.

5.3m Weekly Readers (NADbank 2010)

6.9m Monthly UV’s

(comScore 3mth avg. Nov 2011)

3.2m Weekly Readers (ComBase 08/09 & internal estimates)

833k Monthly Readers

(PMB 2011F)

2.0m Monthly UV’s

(Omniture Sept 2011)

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Industry and Competition

Canada/US Media Penetration Trends

Source: eMarketer, Global Media Intelligence Report: North America, October 2011 •Canadian Weekly newspaper penetration as per NADbank 2005, 2010 •** Based on PMB 2000, 2005, 2011

• Almost 3 out of 4 Canadian Adults 18+ read a daily newspaper each week vs. 57% in the US

• Internet penetration is similar for both countries reaching 7 out 10 Adults • Two-thirds of Canadians own a mobile phone while three-quarters of Americans

own mobile phones

Media Penetration Trends

Canada US

Medium 2000 2005 2011 2000 2005 2011

Television** 97.9% 97.8% 95.1% 93.0% 94.0% 93.0%

Radio** 89.2% 87.6% 82.2% 83.0% 84.0% 82.2%

Magazine** 81.0% 79.0% 76.4% 91.0% 90.0% 89.0%

Internet** 30.1% 55.1% 71.2% n/a 61.9% 72.2% Newspaper* - 78.0% 73.1% 69.0% 66.0% 56.6%

Mobile Phones** 26.4% 46.5% 66.6% 38.0% 63.0% 75.0%

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Q12008

Q22008

Q32008

Q42008

Q12009

Q22009

Q32009

Q42009

Q12010

Q22010

Q32010

Q42010

Q12011

Q22011

Q32011

Canadian Newspapers 0.075 0.1281 0.0377 -0.04 -0.11 -0.126 -0.139 -0.059 0.0083 0.0123 0.0246 0.0271 0.0233 0.0475 0.0548U.S. Newspapers -0.087 -0.108 -0.133 -0.16 -0.238 -0.236 -0.216 -0.139 -0.065 -0.04 -0.039 -0.041 -0.055 -0.047 -0.052

-0.3

-0.25

-0.2

-0.15

-0.1

-0.05

0

0.05

0.1

0.15

Aver

age

Reve

nue

Gro

wth

• Compared to their U.S. counterparts, Canadian newspapers experienced more moderate revenue declines during the downturn and have seen positive revenue growth in the last four quarters

• From Q4 ’07 to Q4 ’10, aggregate U.S. newspaper revenues faced a cumulative drop of ~30%, whereas aggregate Canadian newspaper revenues fell by ~5% over the same period

Quarterly Revenue Trends

Source: Company filings. Note: Canadian Newspapers consist of reported newspaper segments of Postmedia, Quebecor, FP Newspapers, Glacier Media and Torstar (Star and Metroland). U.S. Newspapers consist of reported newspaper segments of Gannett, The New York Times, McClatchy, Lee Enterprises, The Washington Post and Media General.

Canadian & U.S. Newspaper YoY Revenue Growth

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4,979

3,870

3,296

2,262

2,038

2,033

1,650

1,465

1,203

1,193

Postmedia Newspapers

The Globe And Mail

Toronto Star

The New York Times Brand

Transcontinental Digital LocalSolutions Group

Mail Online

GUARDIAN.CO.UK

USATODAY Sites

Tribune Newspapers

TORONTOSUN.COM

#1 Reach of Newspaper Websites

31% Reach

Source: comScore, MediaMetrix., Total Canada, All Locations, Nov 2011 (3-month average – Sept/Oct/Nov )

Newspaper Category Unique Visitors (000) – November 2011 (3-month avg.)

• Postmedia newspapers reach 31% of all Canadians who visit newspaper websites – nearly 5 million monthly UVs

• Postmedia newspaper website visitors up 7.4% in Q1

• Total network monthly UVs over 7 million

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The Postmedia Network Advantage

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4.3 Million3.4 Million

2.5 Million 2.5 Million 2.2 Million1.6 Million

• Postmedia daily newspapers reach 4.3 million Canadian Adults each week – almost one million more readers than any other daily newspaper network

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, Calgary, Edmonton, Toronto and Ottawa

*For comparative purposes, Networks based on English language readership. Weekly Readership = 6/7 day cumulative (cume) Postmedia, Sun Media, TorStar, Globe and Mail; 5-day cume Metro and 24 Hours Source: NADbank 2010. Base: Postmedia Network owned properties (32 National Post markets + Sask/Reg), Sun Media (5 markets + 15 markets for Toronto Sun), Torstar (19 markets), Globe and Mail (48 markets), Metro (6 markets), 24 Hours (5 markets).

Weekly Readership* – Adults 18+

Company Overview

Leading Market Share Driven by Strong Brands

• Well-established brands are a part of local communities – some for more than a century

• Postmedia’s metro daily newspaper brands maintain the leading share among English-language newspapers in their respective markets

• 24/7 newsrooms provide unique, award winning content across multiple delivery channels

• The National Post, one of Canada’s two daily national newspapers, focuses on key urban markets

Publication Market Market

Position (1)

Local Market Share(1)

Vancouver 1 100% (4)

Vancouver 2 (2) 100% (4)

Montreal 1 (3) 100%

Ottawa 1 74%

Edmonton 1 70%

Calgary 1 74%

Windsor 1 100%

Saskatoon 1 100%

Regina 1 100%

Source: CNA 2010 Circulation Data Report. (1) As measured by paid daily circulation among English-language newspapers. (2) Second to The Vancouver Sun, which is also operated by the Company. (3) Number one English-language newspaper; number three overall among paid dailies. (4) Includes The Vancouver Sun and The Province.

Trusted Brands Across Canada

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Postmedia Network Online Audience

Source: comScore, Inc., Total Canada, All Locations; Average UVs Sep/Oct/Nov 2011

• Postmedia Network owns and operates over 50 destination websites and has exclusive advertising representation agreements with many high-profile third-party websites (eg. CBC, divine.ca, GasBuddy.com)

• Combined audience of owned and represented websites puts Postmedia Network #5 in the News and Information category by comScore, with nearly 7 Million monthly unique visitors

• Of the total Postmedia Network online audience, 4.9 Million of those unique visitors go to our newspaper websites

• Collectively, Postmedia Newspapers rank #1 in the Newspapers category

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B2B Media monitoring, competitive intelligence, licensing

Digital First Focus

Video content

Revenue sharing Wherever, whenever

Exclusive ad repping agreements

Exclusive Canadian partner

Innovation & Entrepreneurship

Group Buying Site

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Strategic Focus

Audience Development Attracting high value audiences to all of our platforms. Developing insights abut our audiences that informs our product development and client offerings. Customer Development Working in collaboration with our advertisers to offer smarter solutions that leverage all of our current and developing platforms. Product/Content Development Quality content is a key driver of audiences to our online, print and mobile products – we must deliver exceptional quality across our brands. Our product development must focus on delivering relevant audiences that advertisers want, products that engage and grow our audiences and products that deliver significant ROI. People Development Celebrate and recognize a culture of collaboration, innovation and transformation.

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Strategic Priorities Accelerate Digital Product Development and Revenue Growth • Appointment of Simon Jennings in new role of Chief Revenue and Digital Officer • Leverage unparalleled footprint and brand strength to exploit new revenue

opportunities • Aggressively pursue new digital product development

Business Transformation • Re-engineer internal work processes to reduce legacy costs and improve

effectiveness • Consolidate and/or outsource operations to improve efficiency • Sell non-core assets

Repayment of Debt • Aggregate long-term debt repayments totaling approximately $173 million since

completing transaction in July 2010 • Debt repayment remains a top priority

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Impact of Restructuring

$0

$200

$400

$600

$800

$1,000

$1,200

F2008 F2009 F2010 F2011 Q1 F2012 LTM

Discontinued Operations(2) Continuing Operations

Consolidated Operating Expenses(1) (C$ millions)

• Reduced staffing levels by approximately 28% since fiscal 2008. • Consolidated operating expenses reduced by approximately $200 million.

Note 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 in Q1 F2012. As a result, financial information for periods prior to Q1 F11 have been prepared in accordance with Canadian GAAP - Part V and financial information for periods subsequent to Q4 F10 have been prepared in accordance with IFRS. For a full discussion of the impact of the transition to IFRS see the interim condensed consolidated financial statements and MD&A for the three months ended November 30, 2011 and 2010.

Note 2: On November 30, 2011, the Company completed the sale of the Victoria Times Colonist 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 and Q1 F2012 have been revised to reflect this change in presentation.

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Financial Overview

$100

$300

$500

$700

$900

$1,100

$1,300

Q1 F10 Q2 F10 Q3 F10 Q4 F10 Q1 F11 Q2 F11 Q3 F11 Q4 F11 Q1 F12

Continuing Operations Discontinued Operations(2)

• Economic weakness continues to pressure revenue. • Priority is to accelerate growth in digital revenue.

Recent Revenue Performance

LTM Consolidated Revenue(1) (C$ millions)

Note 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 in Q1 F2012. As a result, financial information for periods prior to Q1 F11 have been prepared in accordance with Canadian GAAP - Part V and financial information for periods subsequent to Q4 F10 have been prepared in accordance with IFRS. For a full discussion of the impact of the transition to IFRS see the interim condensed consolidated financial statements and MD&A for the three months ended November 30, 2011 and 2010.

Note 2: On November 30, 2011, the Company completed the sale of the Victoria Times Colonist 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 and Q1 F2012 have been revised to reflect this change in presentation.

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• Operating profit remains strong due to cost reduction efforts • Strong focus on cost reduction continues

Operating Profit Trends

$0

$50

$100

$150

$200

$250

$300

Q1 F10 Q2 F10 Q3 F10 Q4 F10 Q1 F11 Q2 F11 Q3 F11 Q4 F11 Q1 F12

Continuing Operations Discontinued Operations(2)

LTM Operating Profit before Depreciation, Amortization and Restructuring(1) (C$ millions)

Note 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 in Q1 F2012. As a result, financial information for periods prior to Q1 F11 have been prepared in accordance with Canadian GAAP - Part V and financial information for periods subsequent to Q4 F10 have been prepared in accordance with IFRS. For a full discussion of the impact of the transition to IFRS see the interim condensed consolidated financial statements and MD&A for the three months ended November 30, 2011 and 2010.

Note 2: On November 30, 2011, the Company completed the sale of the Victoria Times Colonist 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 and Q1 F2012 have been revised to reflect this change in presentation.

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• Attractive margins and relatively low capital expenditures drive strong operating cash flow

• Top priority for free cash flow(2) is debt reduction

Strong Cash Flow

$0

$20

$40

$60

$80

$100

$120

$140

$160

$180

$200

Q1 F10 Q2 F10 Q3 F10 Q4 F10 Q1 F11 Q2 F11 Q3 F11 Q4 F11 Q1 F12

Continuing Operations Discontinued Operations(3)

LTM Operating Profit before Depreciation, Amortization and Restructuring less Capital Expenditures(1)((2) (C$ millions)

Note 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 in Q1 F2012. As a result, financial information for periods prior to Q1 F11 have been prepared in accordance with Canadian GAAP - Part V and financial information for periods subsequent to Q4 F10 have been prepared in accordance with IFRS. For a full discussion of the impact of the transition to IFRS see the interim condensed consolidated financial statements and MD&A for the three months ended November 30, 2011 and 2010.

Note 2: 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.

Note 2: On November 30, 2011, the Company completed the sale of the Victoria Times Colonist 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 and Q1 F2012 have been revised to reflect this change in presentation.

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Declining Consolidated Debt Levels

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$100

$200

$300

$400

$500

$600

$700

July 13, 2010 Q4 F'10 Q1 F'11 Q2 F'11 Q3 F'11 Q4 F'11 Q1 F'12

Consolidated Debt (US$ millions)

• Consolidated leverage ratio at November 30, 2011 was 3.13 • Debt repayments total $173 million since formation of Company on July 13, 2010

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