WIXLIB

Track Record of Performance(1)Since 2009 Organic RGU additions of 3.6 mm Over 50% increase in reported OCF to 4.9 bn in 2012 2.5-fold expansion in reported Adj. FCF since 2009Organic RGU AdditionsBundling driving record results1,594(000s)Q4 2012 Results Record quarter with 465,000 organic RGU adds Rebased growth: revenue 7%; OCF 6% Adj. FCF up 62% to 594 mm1,192837577465380317235FY 2012 Results(1) Highest-ever annual organic RGU adds of 1.6 mm Rebased growth: revenue 6%; OCF 4% Adj. FCF growth of 31% - brings 2012 total to over 1 bn2009201020112012Q4 Organic RGU AdditionsYTD September Organic RGU AdditionsPlease see Appendix for the definition and information on organic RGU additions and rebased growth.Liberty Global & Virgin Media February 6, 201320

Sustainable Operating MomentumSubstantial RGU (subscriber) growth opportunity Digital upside with over 8 mm analog RGUs Significant runway with low broadband & voice penetrationsVideo Opportunity(1)Innovation driving growthStable pricing Continued ARPU/customer growth with bundling success Brand power & price/value proposition improvingOther 0.8 mmInnovation drives volume/ARPU Broadband superiority a proven growth driver Emerging opportunities with Horizon, mobile & B2BAttractive OCF and FCF profile(1) OCF margin up 200 bps over last 3 years Declining capital intensity Strong cash from ops & vendor financing driving FCF18.3 mmSubsAnalogCable8.4 mmDigitalCable9.1 mmStatistics as of December 31, 2012.Liberty Global & Virgin Media February 6, 201321

Agenda Transaction Rationale Virgin Media Highlights Liberty Global Highlights Transaction Summary

Key Transaction Terms & Valuation(1)(2)(3)Structure & ConsiderationValuation Liberty Global to acquire VirginMedia in cash & stock merger 47.87 per Virgin Media share(2) Virgin Media shareholders receivefor each share: Implied Virgin Media equity value of 16.0 bn & enterprise value of 23.3 bn(2) 24% premium to closing price(3) 17.50 in cash Represents 8.8x 2012 OCF multiple 0.2582 shares of Liberty Global(1)Series A common stock Represents 7.0x 2013E OCF multiple,(3)after adjusting for synergies & taxes 0.1928 shares of Liberty Global(1)Series C common stock Accretive to Free Cash FlowIn the transaction, Liberty Global will create a new holding company, a UK public limited company (plc), listed on NASDAQ. The shares delivered therefore will be shares of the plc entity with substantiallysimilar rights as the current Liberty Global shares of common stock.Based on Liberty Global’s & Virgin Media’s closing prices at February 4, 2013.OCF adjusted to conform to Liberty Global’s OCF definition. 2013 multiple is calculated after taking into consideration the expected annual impact of approximately 110 million of operating synergies thatmay be realized following full integration and after adjusting the consideration to be paid for certain tax assets. Assumptions underlying forward purchase multiple as estimated by Liberty Global.Liberty Global & Virgin Media February 6, 201323

Key Transaction Terms (Cont.)Pro Forma OwnershipParent Company LGI shareholders expected to own 64% Redomicile to the UK VMED shareholders expected to own 36% Remain listed on NASDAQGovernancePath to Completion One Virgin Media Board member to joinLiberty Global Board Transaction subject to majority LGI & VirginMedia shareholder votes, regulatoryapprovals & customary closing conditions One Virgin Media Board member to joinnewly-formed UK Advisory BoardLiberty Global & Virgin Media February 6, 2013 Expected to close in Q2 201324

Pro Forma CapitalizationCombined PF fully-diluted equity market capitalization of 27.9 bn PF Series A common stock: 16.1 bn market cap (231 mm shares outstanding)Series B common stock: 0.7 bn market cap (10 mm shares outstanding)PF Series C common stock: 11.2 bn market cap (173 mm shares outstanding)Purchase of Virgin Media’s equity totaling 16.0 bn (1)Equity issuance of 10.2 bn (86 mm LBTYA shares & 65 mm LBTYK shares)Total cash outlay of 5.9 bn,(2) funded by a combination of debt financing & availableliquidity of both Liberty Global and Virgin Media Includes more than 3.0 bn of incremental debt at Virgin MediaCombined PF total debt of 39 bn(1)(2) Equates to 5x leverage; deleveraging event for LGI shareholders Target mid-4s leverage by year-end 2014Based on Virgin Media’s fully-diluted shares outstanding of approximately 335 mm and based on closing prices on February 4, 2013.Before taking into account transaction fees, expenses, and the pre-closing carrying cost of the debt, which combined total approximately 500 million.Liberty Global & Virgin Media February 6, 201325

(1)Financial Strength Across Key Metrics2012 Results(unaudited)(2)Combined(In billions, unless %)Revenue 10.3 6.5 16.8OCF 4.9 2.7 7.547.2%41.0%44.8% 1.9 1.2 3.118.3%19.1%18.6% 1.0 0.5 1.5OCF marginCapExCapEx/RevenueAdjusted FCF(1)(2)LGI amounts are on an as reported basis. Please see Appendix for the definitions. The Virgin Media amounts are on a reported basis, as adjusted to conform to the OCF andAdjusted FCF definitions of LGI (see Appendix). Figures are for the year ended December 31, 2012.Reported Virgin Media numbers have been converted at the average 2012 GBP/USD foreign exchange spot rate as per Bloomberg. Totals may not summate due to rounding.Liberty Global & Virgin Media February 6, 201326

Combination Delivers Strong OutlookMid-single digit rebased revenue growthMid-single digit rebased OCF growthCapital intensity to declineMid-teens free cash flow growthLiberty Global & Virgin Media February 6, 201327

Powerful CombinationThe world’s leading broadbandcommunications companyComplementary strengthsacross video, voice & dataSignificant potential tomonetize customer baseSubstantial synergy opportunityAccretive to free cash flowLiberty Global & Virgin Media February 6, 2013Strengthened commitmentto shareholder returns28

Appendix

Liberty Global’s AppendixDefinitions and Additional InformationRevenue Generating Unit (“RGU”) is separatelyan Analog Cable Subscriber, Digital CableSubscriber, DTH Subscriber, MMDS Subscriber,Internet Subscriber or Telephony Subscriber. Ahome, residential multiple dwelling unit, orcommercial unit may contain one or more RGUs.For example, if a residential customer in ourAustrian system subscribed to our digital cableservice, telephony service and broadband internetservice, the customer would constitute threeRGUs. Total RGUs is the sum of Analog Cable,Digital Cable, DTH, MMDS, Internet andTelephony Subscribers. RGUs generally arecounted on a unique premises basis such that agiven premises does not count as more than oneRGU for any given service. On the other hand, ifan individual receives one of our services in twopremises (e.g. a primary home and a vacationhome), that individual will count as two RGUs forthat service. Each bundled cable, internet ortelephony service is counted as a separate RGUregardless of the nature of any bundling discountor promotion.Non-paying subscribers are counted assubscribers during their free promotional serviceperiod. Some of these subscribers may choose todisconnect after their free service period. Servicesoffered without charge on a long-term basis (e.g.,VIP subscribers, free service to employees)generally are not counted as RGUs. We do notinclude subscriptions to mobile services in ourexternally reported RGU counts. In this regard, ourDecember 31, 2012 RGU counts exclude 743,100Liberty Global & Virgin Media February 6, 2013postpaid subscriber identification module (“SIM”)cards in service in Belgium, Germany, Chile,Poland, the Netherlands and Hungary and 89,900prepaid SIM cards in service in Chile.Average Revenue Per Unit (“ARPU”) refers to theaverage monthly subscription revenue per averagecustomer relationship and is calculated by dividingthe average monthly subscription revenue(excluding installation, late fees and mobileservices revenue) for the indicated period, by theaverage of the opening and closing balances forcustomer relationships for the period. Customerrelationships of entities acquired during the periodare normalized. Unless otherwise indicated, ARPUper customer relationship for the UPC/UnityDivision and LGI Consolidated are not adjusted forcurrency impacts. ARPU per customer relationshipamounts reported for periods prior to January 1,2012 have not been restated to reflect the January1, 2012 change in our reporting of SOHO RGUs.Organic RGU additions exclude RGUs ofacquired entities at the date of acquisition, butinclude the impact of changes in RGUs from thedate of acquisition. All subscriber/RGU additions orlosses refer to net organic changes, unlessotherwise noted.Small office home office (“SOHO”); Certain ofour business-to-business (“B2B”) revenue isderived from small or home office subscribers thatpay a premium price to receive enhanced servicelevels along with video, internet or telephonyservices that are the same or similar to the massmarketed products offered to our residentialsubscribers. Effective January 1, 2012, werecorded non-organic adjustments to beginincluding the SOHO subscribers of our UPC/UnityDivision in our RGU and customer counts. As aresult, all mass marketed products provided toSOHOs, whether or not accompanied by enhancedservice levels and/or premium prices, are nowincluded in the respective RGU and customercounts of our broadband communicationsoperations, with only those services provided atpremium prices considered to be “SOHO RGUs” or“SOHO customers.” With the exception of our B2BSOHO subscribers, we generally do not countcustomers of B2B services as customers or RGUsfor external reporting purposes. All RGU,customer, bundling and ARPU amounts presentedfor periods prior to January 1, 2012 have not beenrestated to reflect this change.OCF margin is calculated by dividing OCF by totalrevenue for the applicable period.LGI Repurchases include approximately 90million to repurchase UGC Convertible Notesduring 2010 and 187 million of paymentsassociated with the exchange of LGI’s ConvertibleNotes during 2011.30

Liberty Global’s AppendixDefinitions and Additional InformationInformation on Rebased Growth: For purposesof calculating rebased growth rates on acomparable basis for all businesses that we ownedduring 2012, we have adjusted our historicalrevenue and OCF for the three months and yearended December 31, 2011 to (i) include the preacquisition revenue and OCF of certain entitiesacquired during 2011 and 2012 in our rebasedamounts for the three months and year endedDecember 31, 2011 to the same extent that therevenue and OCF of such entities are included inour results for the three months and year endedDecember 31, 2012, (ii) exclude the pre-dispositionrevenue and OCF of a small studio business thatwas disposed of at the beginning of 2012 from ourrebased amounts for the three months and yearended December 31, 2011 and (iii) reflect thetranslation of our rebased amounts for the threemonths and year ended December 31, 2011 at theapplicable average foreign currency exchangerates that were used to translate our results for thethree months and year ended December 31, 2012.The acquired entities that have been included inwhole or in part in the determination of our rebasedLiberty Global & Virgin Media February 6, 2013revenue and OCF for the three months endedDecember 31, 2011 include KBW, OneLink andfive small entities in Europe. The acquired entitiesthat have been included in whole or in part in thedetermination of our rebased revenue and OCF forthe year ended December 31, 2011 include KBW,Aster, OneLink and seven small entities in Europe.We have reflected the revenue and OCF of theacquired entities in our 2011 rebased amountsbased on what we believe to be the most reliableinformation that is currently available to us(generally pre-acquisition financial statements), asadjusted for the estimated effects of (i) anysignificant differences between GAAP and localgenerally accepted accounting principles, (ii) anysignificant effects of acquisition accountingadjustments, (iii) any significant differencesbetween our accounting policies and those of theacquired entities and (iv) other items we deemappropriate. We do not adjust pre-acquisitionperiods to eliminate non-recurring items or to giveretroactive effect to any changes in estimates thatmight be implemented during post-acquisitionperiods. As we did not own or operate the acquiredbusinesses during the pre-acquisition periods, noassurance can be given that we have identified alladjustments necessary to present the revenue andOCF of these entities on a basis that is comparableto the corresponding post-acquisition amounts thatare included in our historical results or that the preacquisition financial statements we have reliedupon do not contain undetected errors. Theadjustments reflected in our rebased amounts havenot been prepared with a view towards complyingwith Article 11 of Regulation S-X. In addition, therebased growth percentages are not necessarilyindicative of the revenue and OCF that would haveoccurred if these transactions had occurred on thedates assumed for purposes of calculating ourrebased amounts or the revenue and OCF that willoccur in the future. The rebased growthpercentages have been presented as a basis forassessing growth rates on a comparable basis,and are not presented as a measure of our proforma financial performance. Therefore, we believeour rebased data is not a non-GAAP financialmeasure as contemplated by Regulation G or Item10 of Regulation S-K.31

Liberty Global’s Appendix (Cont.)Liberty Global’s Operating Cash Flow Definition and ReconciliationOperating cash flow is the primary measure usedby our chief operating decision maker to evaluatesegment operating performance. Operating cashflow is also a key factor that is used by ourinternal decision makers to (i) determine how toallocate resources to segments and (ii) evaluatethe effectiveness of our management forpurposes of annual and other incentivecompensation plans. As we use the term,operating cash flow is defined as revenue lessoperating and selling, general and administrativeexpenses (excluding stock-based compensation,depreciation and amortization, provisions forlitigation and impairment, restructuring and otheroperating items). Other operating items include (i)gains and losses on the disposition of long-livedto investors because it is one of the bases forcomparing our performance with the performanceof other companies in the same or similarindustries, although our measure may not bedirectly comparable to similar measures used byother public companies. Operating cash flowshould be viewed as a measure of operatingperformance that is a supplement to, and not asubstitute for, operating income, net earnings(loss), cash flow from operating activities andother GAAP measures of income or cash flows. Areconciliation of total segment operating cash flowto our operating income is presented below.assets, (ii) direct acquisition costs, such as thirdparty due diligence, legal and advisory costs, and(iii) other acquisition-related items, such as gainsand losses on the settlement of contingentconsideration. Our internal decision makersbelieve operating cash flow is a meaningfulmeasure and is superior to available GAAPmeasures because it represents a transparentview of our recurring operating performance thatis unaffected by our capital structure and allowsmanagement to (i) readily view operating trends,(ii) perform analytical comparisons andbenchmarking between segments and (iii) identifystrategies to improve operating performance inthe different countries in which we operate. Webelieve our operating cash flow measure is usefulThree months endedDecember 31,2012Year endedDecember 31,201120122011in millionsTotal segment operating cash flow from continuing operations. Stock-based compensation expense .Depreciation and amortization.Impairment, restructuring and other operating items, net .Operating income . Liberty Global & Virgin Media February 6, 20131,254.4(21.9)(681.4)(50.4)500.7 1,099.5(25.6)(618.7)(47.1)408.1 4,869.6(112.4)(2,691.1)(83.0)1,983.1 4,482.3(131.3)(2,457.0)(75.6)1,818.432

Liberty Global’s Appendix (Cont.)Liberty Global’s Free Cash Flow and Adjusted Free Cash Flow Definitionsand Reconciliations(*)We define free cash flow as net cash provided byour operating activities, plus (i) excess taxbenefits related to the exercise of stock incentiveawards and (ii) cash payments for directacquisition costs, less (a) capital expenditures, asreported in our consolidated cash flowstatements, (b) principal payments on vendorfinancing obligations and (c) principal paymentson capital leases (exclusive of the portions of thenetwork lease in Belgium and the duct leases inGermany that we assumed in connection withcertain acquisitions), with each item excluding anycash provided or used by our discontinuedoperations.operations’ net cash provided by operatingactivities to FCF and Adjusted FCF for theindicated periods:We believe that our presentation of free cash flowprovides useful information to our investorsbecause this measure can be used to gauge ourability to service debt and fund new investmentopportunities. Free cash flow should not beunderstood to represent our ability to funddiscretionary amounts, as we have variousmandatory and contractual obligations, includingdebt repayments, which are not deducted to arriveat this amount. Investors should view free cashflow as a supplement to, and not a substitute for,GAAP measures of liquidity included in ourconsolidated cash flow statements.The followingtable provides the reconcilia

LGI VMED Comcast Liberty Global TWC KDG Charter Virgin Media Cablevision Ziggo Ono 6 . compelling bundles Liberty Global & Virgin Media February 6, 2013. 47 25 47 22 14 11 1.9x 4 Homes Passed 34 13 . Leading challenger in business telecoms Leading MVNO player in UK Liberty Global & Virgin Media February 6, 2013 .