November 2013

China’s Leading New Media Platform:

Where Internet, Mobile and TV Truly Converge

Phoenix New Media (NYSE: FENG)

2

Disclaimer

This presentation contains forward−looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private

Securities Litigation Reform Act of 1995. These forward−looking statements can be identified by terminology such as “will,” “expects,”

“anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, the business outlook and

quotations from management in this presentation, as well as Phoenix New Media’s strategic and operational plans, contain forward−looking

statements. Phoenix New Media may also make written or oral forward−looking statements in its periodic reports to the U.S. Securities and

Exchange Commission (“SEC”) on Forms 20−F and 6−K in its annual report to shareholders, in press releases and other written materials

and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including

statements about Phoenix New Media’s beliefs and expectations, are forward−looking statements. Forward−looking statements involve

inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any

forward−looking statement, including but not limited to the following: the Company’s goals and strategies; the Company’s future business

development, financial condition and results of operations; the expected growth of the online and mobile advertising, online video and

mobile paid service markets in China; the Company’s reliance on online advertising and MIVAS for the majority of its total revenues; the

Company’s expectations regarding demand for and market acceptance of its services; the Company’s expectations regarding the retention

and strengthening of its relationships with advertisers, partners and customers; fluctuations in the Company’s quarterly operating results;

the Company’s plans to enhance its user experience, infrastructure and service offerings; the Company’s reliance on mobile operators in

China to provide most of its MIVAS; changes by mobile operators in China to their policies for MIVAS; competition in its industry in China;

and relevant government policies and regulations relating to the Company. Further information regarding these and other risks is included

in the Company’s filings with the SEC, including its registration statement on Form F−1, as amended, and its annual report on Form 20−F.

All information provided in this presentation is as of the date of this presentation, and Phoenix New Media does not undertake any

obligation to update any forward−looking statement, except as required under applicable law.

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Company Snapshot

Exchange / Ticker NYSE: FENG

Market Cap US$ 800M

Price US$10.36

Weighted Avg. ADS

Outstanding 77.2M

Analysts Coverage

Morgan Stanley - Gillian Chung

Deutsche Bank - Alan Hellawell

Macquarie Group - Jiong Shao

J.P.Morgan - Alex Yao

CICC - Haofei Chen

*As of November 15, 2013

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China’s Leading New Media Platform: Where Internet, Mobile and TV Truly Converge

Notes

1. iResearch’s iUserTracker ranking for September 2013

2. Operating statistics in September 2013 (company data)

#1-ranked news channel by daily unique

visitors(1)

#7-ranked Chinese website by monthly unique

visitor(1)

#7-ranked Chinese website by daily time

spent(1)

#5-ranked Chinese website by daily page view(1)

22M + daily mobile unique visitors (2)

Leading New Media Convergence Platform

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Internet •Portal (40+ Channels)

•Blog

•Web-based Game Platform

Mobile •WAP Portal

•Mobile Apps

•Digital Reading

•Mobile Video

•Mobile Game

•WVAS

Video •Professional News

•Documentaries

•In-house Produced

Content

Premium exclusive content

from Phoenix TV

Three avenues for connecting with end users

6

1998 2005 2006 2007 2009 2010 2011

Phoenix TV founded- a

Leading Chinese

Language TV Network

2nd largest shareholder of

Phoenix TV VC investors

2008

Unique Roots

IPO on NYSE:

May 12, 2011

1996

“New Media” subsidiary

established

Spin-off and established

converged tech platform

7

Preferred Media Destination for Mainstream

Internet Users

#2 home page Daily Unique Visitor(1) among all Chinese media

websites.

Source: iResearch data

ifeng strong media DNA from PTV

Diverse and Premium

Content Editing and Production

Capability

3rd party content Phoenix TV

content

In-house

produced

content

UGC

Higher user demographic with better education, higher income and

more mature.

Daily UV: 20% Increase YoY

Monthly UV: 267 million

Source: iResearch / iUserTracker

Traffic Growth on ifeng.com

32.6

39.2

259 267

200

300

0

10

20

30

40

2012Q3 2013Q3

Daily UV Monthly UV

(Millions)

8

Differentiated & Profitable Online Video Strategy

Online Video

Professional News & short-form video clips

Phoenix TV + Differentiated 3rd party video

Unique and differentiated in-house productions

Low content and bandwidth cost

Highly suitable for mobile consumption

High ad frequency

Mobile Video

Source: iResearch / iUserTracker

#8-ranked Chinese online video website

by Daily Unique Visitor.

9 Source: Company data

Innovative Mobile Paid Services + 3G Portal / APP

Mobile

Video

Digital

Book

Mobile

Newspap

er

WVAS

Mobile

Apps

3G Portal

Large and quality mobile user base with strong monetization potential.

WAP portal and APPs contributed 10% of total advertising revenue in 13Q3.

Comprehensive mobile paid services coverage from 2G to 3G: Mobile Video, Mobile Audio,

Mobile Digital Reading, Mobile Games.

WAP Portal + APPs Daily Active Users: 22M +

Consumer

Goods

Auto

522 Adv Clients in 2012 / 336 in 3Q13

Financial

Services

E-commerce

10

Attractive ROI Driving Strong Ad Growth

Across Portal, Video & Mobile

Source: Company data

Average Rev Per Advertiser

586 666

0

200

400

600

800

2012Q3 2013Q3

(RMB in Thousands)

4I for ROI

Intended target audience

Insightful content

Integrated solution

Influential brand

Near and Mid-Term Growth Strategies

Co-op and

investment for

synergy and

strategy

Grow Online Ad

Sales through

big idea + big data

Keep paid

services $ stable,

grow games $

Explore mobile

advertising

User Base

Mo

neti

zati

on

China’s media

gateway of choice

across devices

Capture news

video ad$ shift

from TV to online

Horizontally

expand female

& commercial

channels

Enhance

product

innovation and

user experience

Accelerate

3g.ifeng and

mobile app dev.

Financial Overview

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Revenue

Revenue and Profit Growth

0

30

60

90

120

150

180

2011 2012 4Q12 1Q13 2Q13 3Q13

Advertising Paid Services

59%

41%

58%

42% 41%

59%

151

178

49 46

59 62

(US$ Mn)(1)

26.8

18.3

4.1

6.2

13.6 13.4

17.7%

10.3%

8.5%

13.7%

23.0%

21.7%

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

0

5

10

15

20

25

30

2011 2012 4Q12 1Q13 2Q13 3Q13

Adjusted net profit Adjusted net margin-Year

Adjusted net margin-Quarter

Adjusted Net Profit & Margin (Non-GAAP)

Notes

1. Non-GAAP net income excludes preferred shares related charges and share-based compensation expenses. Preferred shares charges: 2010: US$38.0Mn; 2011: US$150.7Mn. Share-based compensation expenses: 2010:

US$2.6Mn; 2011: US$ 10.5Mn; 2012: US$1.1Mn; 3Q 2012: US$0.4Mn ; 4Q 2012: US$-0.3Mn; 1Q 2013: US$-0.1Mn ; 2Q 2013: US$1.0Mn; 3Q13: US$0.3Mn

(US$ Mn)(1)

49%

51%

55%

45%

36%

64%

14

Cost of Revenues and Operating Expenses

Notes

1. Excludes share-based compensation expenses: 2010: US$2.6Mn; 2011: US$7.6Mn; 2012: US$1.1Mn; 3Q 2012: US$0.4Mn ; 4Q 2012: US$-0.3Mn ; 1Q 2013: US$-0.1Mn ; 2Q 2013: US$1.0Mn; 3Q13: US$ 0.3 Mn

Cost of Revenues Breakdown

(Non-GAAP) (1)

30.1%

23.7%

15.6% 17.6%

18.7% 20.1%

16.0%

20.4%

24.6%

20.1%

17.1%

19.4%

3.9% 6.1% 6.3% 6.6%

5.6% 4.8%

6.3% 6.5% 8.5%

6.7% 5.8% 6.4%

0%

5%

10%

15%

20%

25%

30%

35%

2011 2012 4Q12 1Q13 2Q13 3Q13

Revenue Sharing Fees Content and Operational CostsBandwidth Costs Sales Tax and Surcharges

As a % of Revenues

15.3%

17.6%

22.1%

19.5%

17.3% 17.2%

6.3%

9.2% 9.4% 9.4%

7.4%

4.7%

6.1%

8.2% 8.0% 9.1%

7.1% 7.1%

0%

5%

10%

15%

20%

25%

2011 2012 4Q12 1Q13 2Q13 3Q13

S&M G&A R&D

Operating Expenses Breakdown

(Non-GAAP) (1)

As a % of Revenues

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Key Investment Highlights

Famous and Influential Media Brand

Multiple High-growth Revenue Streams

Robust and Scalable Technology

Highly Attractive and Fast Growing User Base

Leading Internet, Mobile and TV Convergence Platform

Exclusive and Proprietary Content

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Appendix

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Ownership Structure

Phoenix Satellite Television Holdings Limited

Phoenix Satellite Television (B.V.I.) Holdings Limited

100%

53%

Phoenix New Media Limited

(Cayman Islands) (NYSE: FENG)

100%

47%

Others

Fenghuang On-line (Beijing) Information Technology

Co., Ltd.

100%

Yifeng Lianhe (Beijing) Technology Co.,

Ltd.

Beijing Tianying Jiuzhou Network

Technology Co., Ltd.

100%

Beijing Tianying Chuangzhi

Advertising Co., Ltd.

Phoenix Satellite Television Information Limited

(B.V.I.)

Phoenix New Media (Hong Kong) Company Limited

(Hong Kong)

100%

Phoenix FM Limited

100%

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Education

Years of

Experience

Selected

Experience

Phoenix TV

Shuang Liu

CEO

J.D., Duke Law School

B.A., University of

International Business &

Economics, Beijing

12+ (media industry)

Ya Li

COO

Executive Management

Education, Wharton School

of Business

Univ of Sci & Tech of China

18+ (Internet industry and

entrepreneurship)

Management Team

Betty Ho

CFO

B.C.in Finance from the

University of Toronto

AICPA and HKICPA

20+ (Internet industry, TMT,

and consumer retail)

Ling Jin

EVP

EMBA, Cheung Kong

Graduate School of

Business

10+ (Internet industry,

advertising industry)

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Balance Sheet

2011 2012 1Q13 2Q13 3Q13

Cash and Term Deposit 187,672 184,775 192,081 187,630 204,895

Accounts Receivable 32,110 45,102 42,972 52,469 52,617

Prepayment 7,362 6,831 5,773 6,272 11,525

Total Current Assets 239,270 249,760 258,397 273,304 298,150

PP&E 6,516 16,460 15,308 16,036 16,309

Total Non-Current Assets 9,303 20,086 18,860 19,560 19,889

Accounts Payable 19,221 24,821 26,120 28,055 31,738

Salary Payable 7,169 10,213 7,792 11,334 13,632

Total Liabilities 40,946 50,533 52,291 63,361 76,187

Total Shareholders’ Equity 207,627 219,313 224,966 229,503 241,852

(US$ 000’s)

Key Balance Sheet Items (1)

Notes

1. The above table is the excerpts of Condensed Consolidated Balance Sheets

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Key Contacts

IR Team Matthew Zhao

Jessie Li

E-mail: investorrelations@ifeng.com

Website: ir.ifeng.com

IR Consultant Jeremy Peruski / ICR

US Investor Hotline: +1 (646) 405-4883