21Vianet Group, Inc. Investor Presentation

November 2013

2 2

Disclaimer

This presentation does not constitute an offer to sell or issue or the solicitation of an offer to buy or acquire securities of 21Vianet Group, Inc. (the “Company”) in any jurisdiction or an inducement to enter into investment activity, nor may it or any part of it form the basis of or be relied upon in connection with any contract or commitment whatsoever. Specifically, this presentation does not constitute a “prospectus” within the meaning of the U.S. Securities Act of 1933, as amended.

This presentation does not contain all relevant information relating to the Company or its securities, particularly with respect to the risks and special considerations involved with an investment in the securities of the Company. No part of this document shall form the basis of or be relied upon in connection with any contract or commitment whatsoever. No securities of the Company may be sold in the United States without registration with the United States Securities and Exchange Commission or an exemption from such registration. Any decision to purchase securities in the proposed offering should be made solely on the basis of the information contained in the statutory prospectus in relation to the proposed offering.

This presentation has been prepared by the Company solely for use at this presentation. The information contained in this presentation has not been independently verified. No representation, warranty or undertaking, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or the opinions contained herein. None of the Company or any of its affiliates, advisors, representatives or underwriters will be liable (in negligence or otherwise) for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection with the presentation.

This presentation contains statements that constitute forward-looking statements. These statements include descriptions regarding the intent, belief or current expectations of the Company or its officers with respect to the consolidated results of operations and financial condition of the Company. These statements can be recognized by the use of words such as “expects,” “plans,” “will,” “estimates,” “projects,” “intends,” or words of similar meaning. Such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ from those in the forward-looking statements as a result of various factors and assumptions. The Company or any of its affiliates, advisors, representatives or underwriters has no obligation and does not undertake to revise forward-looking statements to reflect future events or circumstances.

In evaluating our business, we use certain non-GAAP measures as supplemental measures to review and assess our operating performance. These non-GAAP financial measures have limitations as analytical tools, and when assessing our operating performances, investors should not consider them in isolation, or as a substitute for net income (loss) or other consolidated statements of operation data prepared in accordance with U.S. GAAP.

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By attending this presentation, participants agree not to remove this document, or any materials provided in connection herewith, from the conference room where such documents are provided. Participants agree further not to photograph, copy or otherwise reproduce these materials in any form or pass on these materials to any other person for any purpose. Participants must return this presentation and all others materials provided in connection herewith to the Company at the completion of the presentation.

3

Snapshot of 21Vianet

Leading Internet infrastructure services provider in China

– #1 carrier-neutral Internet data center services provider in

China1

80+ data centers and over 13,300 cabinets under management

in more than 40 cities in China

Our network is interconnected with networks operated by all

of China’s telecom carriers, major non-carriers and local ISPs

Over 2,000 customers with low monthly churn rate of approx.

1.64%2, Top 20 customers’ churn rate remained at 0%

Partnering with Microsoft to offer cloud services in China

Providing Cloud CDN through the acquisition of Fastweb

Products including: Managed Hosting, MNS, Cloud Computing

& CDN

1. According to IDC

2. As measured by monthly recurring revenue (MRR)

4

Section 1

Company Overview

Products of 21Vianet

5

Hosting and Related

Services

- managed hosting services,

interconnectivity services and

value-added services

Managed Network Services

– hosting area network

services, route optimization

and extensive data

transmission network

Cloud Computing –

Microsoft Windows Azure and

Office 365

Content Delivery Network -

proprietary CloudCDN

platform software and cloud

enabling technology solutions

21Vianet

Public Cloud Services With Microsoft

Microsoft’s

Windows Azure

■ Public preview of Windows Azure service available in China on June

6, 2013

■ 21Vianet helps Microsoft to be the first multinational in the world to

bring public cloud services to China

■ Windows Azure provides public cloud computing platform services

including computing, storage, database, integration and networking

services

■ Kingdee, Qoros, RenRen, PPTV, HiSoft and Shanghai Municipal

Government are current users

Microsoft’s

Office 365

■ Public preview of Office 365 available in China on August 8, 2013

■ Office 365 offers cloud versions of Office Professional Plus,

Exchange Online, SharePoint Online, and Lync Online.

■ Potential customer base will include: Small & Medium Enterprises

(SMEs), Multi-National Corporations (MNCs) and government

agencies

June 2013

August 2013

Date Products Products Information

2010-2016 Public Cloud Services Market Size in China

1.6

2.7

3.7

5.1

6.5

8.5

10.5

0

2

4

6

8

10

12

2010 2011 2012 2013 2014 2015 2016

US$Bn

Source : Gartner

8

Challenges of China’s Internet Infrastructure

2 Major Carrier Networks with Different Geographic Coverage

— Each with over 31 independently operated provincial entities

3 overloaded NAPs in China:

— Beijing, Shanghai and Guangzhou

China’s Internet Infrastructure Key Characteristics

VNET VNET VNET VNET VNET

Nationwide network coverage is rare due to

carriers’ decentralized network management

– Two major carrier networks with respective

geographical coverage (China Telecom in the

South, China Unicom in the North)

– Carriers’ provincial subsidiaries operate

independently in 31 provinces

Inadequacy of network interconnectivity

– Interconnection between the North and South

predominantly through three overloaded network

access points (NAPs)

– Limited inter-provincial network connections within

the same network

Operating data center requires regulatory

approval

– Foreign entities are prohibited from owning more

than 50% of a value added telecommunication

provider

– Very difficult to obtain national licenses

Requires large capital to achieve scale

– Significant time and investment required to develop

nationwide interconnection

– 21Vianet spent more than 10+ years to reach more

than 80 data centers.

9

Interconnection in China is Slow

China’s Connection Speed

Rank Province Avg. Mbps

1 Shanghai 4.3

2 Fujian 3.4

3 Zhejiang 3.2

4 Shandong 3.2

5 Jiangsu 3.1

6 Jiangxi 3.1

7 Anhui 3.0

8 Beijing 3.0

9 Sichuan 2.9

>10 Guangzhou 2.9

China Average 2.9

Source: CCINDEX

Rank Country / Region Avg. Mbps

1 South Korea 14.0

2 Japan 10.8

3 Hong Kong 9.3

4 Latvia 8.9

5 Switzerland 8.7

6 Netherlands 8.6

7 Czech Republic 8.1

8 United States 7.4

9 Sweden 7.3

10 Finland 7.1

Global Connection Speed

Source: Akamai

Connectivity challenges in China

– China’s national average connection speed of 2.9 Mbps is well below global top 10 countries

10

Our Inter-Cloud Express Network And Service Platform

21 Vianet’s Data Center 21 Vianet Inter-Cloud Express Network

As a well diversified carrier-neutral player, we believe we are well positioned in the data center

services market today and the cloud infrastructure services market in the future

Our Advantages

Largest carrier

neutral provider in

China

Turn-key solutions for

bandwidth,

computing, storage

and content delivery

Leverage our existing

and expanding

infrastructure purpose

built for cloud

services

Largest Carrier-neutral IDC Provider in China

Source: IDC, Oct 2013.

Note: Market share data as of year end 2012.

China IDC Market Share China Carrier-Neutral IDC Market Share

China Telecom

39%

China Unicom 20% China Mobile

3%

21ViaNet 12%

Other Carrier-Neutral

26%

21ViaNet 31%

Others 69%

Fast-growing Data Traffic Driving High Demand for IDC Providers

59.2% 54.5%

40.8%

45.5% $1.25

$1.70

0.0

0.5

1.0

1.5

2.0

2011 2012

Telecom Carriers Carrier- Neutral

$1.70

$2.11

$2.68

$3.43

$4.52

$5.93

0.0

2.0

4.0

6.0

8.0

2012A 2013E 2014E 2015E 2016E 2017E

Source: IDC China Internet Datacenter Forecast and Analysis.

(US$ Bn)

Growing Market Share of the Carrier Neutral IDC

Services Provider

(US$ Bn)

Strong Growth of the IDC Market in China

Source: IDC China Internet Datacenter Forecast and Analysis.

13

Growing Demand for Internet Traffic in China

Petabytes (1,000 Terabytes)

35.8%

26.4% 24.0%

20.3%

16.4%

0%

10%

20%

30%

40%

50%

China Japan Germany UK USA

High Growth in China Internet Traffic Growth Leader Compared to Developed Countries

3,237

4,691

6,709

8,825

11,012

0

2,000

4,000

6,000

8,000

10,000

12,000

2012A 2013E 2014E 2015E 2016E

Source: Cisco VNI Forecast

2012 – 2016 CAGR of Internet Traffic

14

Immense Potential for High Demand of Data Center Capacity in China

Source: Global Insight, Gartner

2012 Population (MM)

While China’s population is 4x larger than USA…

1,353

315 128 82 63

0

500

1,000

1,500

China USA Japan Germany UK

Source: Global Insight

Servers and Storage Units (000s)

…total data center capacity is only 40% that of USA

4,150

1,591

654 505 449

0

1,500

3,000

4,500

USA China Japan Germany UK

Source: Gartner

Potential High Demand of Data Center Capacity in China to Support Population

2012 Server and Storage Units / Person

0.0132

0.0071 0.0062

0.0051

0.0012

0.000

0.005

0.010

0.015

USA UK Germany Japan China

Data center capacity in China needs to grow 10x in order to catch up with America and to grow at least 25x in

order to catch up with USA, UK, Germany and Japan combine together.

15

Increasing Internet Penetration & Usage Globally

Social Networking Sites Online Gaming E-Commerce Online Video

SNS Market (RMB Bn)

1.2

5.7

9.6

0

2

4

6

8

10

12

2008 2012E 2014E

21

4654

0

20

40

60

80

2008 2012E 2014E

Online Gaming Market (RMB Bn) Online Video Market (RMB Bn) E- Commerce Market (RMB Tn)

29

101

206

0

50

100

150

200

250

2008 2012E 2014E

1.3

9.1

16.0

0

5

10

15

20

2008 2012E 2014E

Source: IResearch.

(MM) (MM) (%)

11%

37%

42%

46%

48%

58%

80%

78%

83%

83%

84%

0% 20% 40% 60% 80% 100%

India

Mexico

China

Brazil

Russia

Italy

France

US

Canada

Germany

UK

28.5

35.8

42.0

52.2

52.7

68.0

67.5

88.5

137.0

245.2

564

0.0 300.0 600.0

Canada

Italy

Mexico

France

UK

Russia

Germany

Brazil

India

US

China

211

300

386 460

513

609

675 729

769 807

0

100

200

300

400

500

600

700

800

900

2007 2010 2013E 2016E

Source: CNNIC at Jun 30, 2013 Source: www.internetworldstats.com as at

Jun 30, 2012

Source: Frost & Sullivan.

Internet Penetration Internet Users China Internet Users

16

Internet

Entertainment Portals

Government

and Financial

Institutions

Technology

E-Commerce

Manufacturing

baofeng.com

taobao.com

Guohua Life Insurance

Ministry of Foreign Affairs

of the PRC

Diversified and Loyal Customer Base

17

Web Services Internet Media

Online Gaming Web 2.0

Government & Corporate Operator / Service Provider Network Audio Visual

Ecommerce Mobile Internet

2013 Q2 Revenue Breakdown 2013 Q3 Revenue Breakdown

Revenue Break Down by Verticals

Internet Related Customers: 74%

5.9%

19.2%

16.6%

4.0%

8.4%

10.1%

9.3%

18.2%

7.4%

TOP 5 CUSTOMERS % to Total Rev

4.9%

3.3%

2.4%

1.8%

1.7%

Total 14.1%

Financial Industry

TOP 5 CUSTOMERS % to Total Rev

6.2%

3.6%

2.5%

2.1%

1.8%

Total 16.2%

5.9%

20.6%

16.4%

4.2%

8.4%

8.8%

9.6%

18.8%

6.8%

0.6%

Internet Related Customers: 74%

0.9%

18

Josh Chen

Founder,

Chairman

& CEO

■ Built the first carrier-neutral IDC in China

■ Founded Beijing Taixing Data Engineering and A-1 Netcom China, one of the

pioneering and most influential private ISPs in China

■ B.S. in Electrical Engineering from Tsinghua University

Internet

search

engines

13 21

Years with

21Vianet

Years of

Experience

Experienced and Stable Management Team

Shang Hsiao

CFO

■ Served as CFO of Memsic Inc. (NASDAQ: MEMS)

■ Served as SVP & CFO of Great Dream

■ Served as senior manager of Arthur Andersen in Philadelphia and Shanghai

■ Independent director of Camelot (NYSE:CIS)

■ J.D. (Rutgers) and AICPA

Internet

search

engines

3 26

Edward Liu

CSO

■ Co-founder and Chief Operating Officer since June 1999

■ Founded Beijing Taixing Data Engineering and A-1 Netcom China, one of the

pioneering and most influential private ISPs in China

■ Graduated from Tsinghua University

Internet

search

engines 13 21

Jun Zhang

Founder, COO

Internet

search

engines < 1 26

■ Served as Director of Business Development at Akamai Technologies, Inc.

(NASDAQ: AKAM)

■ Served as VP of Research and Strategy at Speedera Networks

■ Technical Co-founder of Resonate

Frank Meng

President Internet

search

engines < 1 30

■ Served as SVP and President of Qualcomm, Inc ("Qualcomm") in the

greater China region

■ Served on the board of directors for Unicom-BREW Telecommunication

Technologies, the joint venture between China Unicom and Qualcomm

■ SVP and President of Greater China for Motorola Mobility, LLC

Experienced and Stable Management Team （Cont’d）

19

Philip Lin

EVP of Strategy &

Development

■ Served as Chairman of Prime Networks, a CDN services provider

■ Served as a senior executive at Kluge & Company, the private equity arm for

John Kluge and Metromedia

■ Graduated from Cornell University and Columbia University (MBA)

Internet

search

engines 2 18

Feng Xiao

SVP of Hosting

Services

■ Joined 21Vianet since its inception

■ Served as planning manager of HeDe Group Company Internet

search

engines

13 17

Ningning Lai

SVP of Network

Services

■ Joined 21Vianet in March 2000

■ Worked with Capital Information development Co. Ltd. Network Engineering Internet

search

engines 12 12

Years with

21Vianet

Years of

Experience

Wing-Dar Ker

President of

Microsoft Cloud

Operation

■ Served as General Manager of Customer Service and Support (CSS) for the

Asia Pacific and Greater China (APGC) Region at Microsoft

■ Served as Finance Controller for APGC at Microsoft

■ Served as Manager and Group Head of the Business Systems Consulting (BSC)

group of Andersen Consulting

Internet

search

engines <1 19

20

Section 2

Financial Overview

21

Q3 2013 Financial Performance

• Revenue growth of 29.8% to RMB 514.0M (US$ 84.0M) from RMB 396.1M in

the prior year period. Quarterly revenue growth of 9.1% to RMB 514.0M

(US$ 84.0M) in Q3, 2013 from RMB 471.1M in Q2, 2013.

High Growth

• Adjusted EBITDA margin was 18.6% in Q3, 2013, compare to 18.5% in Q2,

2013.

• Adjusted net margin was 5.7% in Q3, 2013, compare to 4.0% in Q2, 2013.

Stable Profitability

• Churn rate was 1.64% in Q3, 2013 compared to 1.47% in Q2, 2013.

Top 20 customers’ churn rate remained at 0%

• Low customer concentration – largest customer accounted for 6.2% of total

net revenue

• Utilization rate was 73.7% in Q3, 2013, compare to 70.2% in Q2, 2013.

High Visibility

Notes: 1) Adjusted EBITDA is defined as EBITDA excluding share-based compensation expenses and changes in the fair value of contingent purchase consideration payable 2) Adjusted net income is defined as net income(loss) from continuing operations excluding share-based compensation expenses, amortization expenses of intangible assets

derived from acquisitions, changes in the fair value of contingent purchase consideration payable and related deferred tax assets and unrecognized tax benefits, tax incentive receipt and outside basis difference

396 418 436 471 514

0

100

200

300

400

2012Q3 2012Q4 2013Q1 2013Q2 2013Q3

22

119 123 126 136 149

30.0% 29.5% 28.8% 28.8%28.9%

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

35.0%

0

20

40

60

80

100

120

140

160

2012Q3 2012Q4 2013Q1 2013Q2 2013Q3

___________________________ Source: Company management accounts. Notes: 1) Adjusted Gross Profit = GAAP Gross Profit + SBC Expenses + Acquisition Related Amortization 2) Adjusted EBITDA = EBITDA + SBC Expenses + Change in Fair Value of Contingent Consideration Payables 3) Adjusted Net Income = Net Income + SBC Expense + Acquisition Related Amortization + Change in Fair Value of Contingent Consideration Payables and Related Deferred Tax assets

RMB MM

Net Revenues Adjusted Gross Profit(1)

Adjusted EBITDA(2) Adjusted Net Income(3)

RMB MM

RMB MM RMB MM

Financial Performance (Cont’d)

Adjusted Gross Profit Margin Adjusted Gross Profit

52

39

39

19

30

13.2%

9.5%

7.1%

4.0%

5.7%

0.0%

4.0%

8.0%

12.0%

16.0%

20.0%

24.0%

0

10

20

30

40

50

2012Q3 2012Q4 2013Q1 2013Q2 2013Q3

Adjusted Net Income Adjusted Net MarginAdjusted EBITDA Adjusted EBITDA Margin

76 78 80 87 95

19.2% 18.7% 18.4% 18.5%18.6%

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

0

20

40

60

80

100

2012Q3 2012Q4 2013Q1 2013Q2 2013Q3

Growing Recurring Revenues

Notes: 1) Defined as average MRR divided by average number of cabinets over the period.

Hosting MRR per Cabinet (1)

8,455 9,019

10,467 10,422 10,559

10,520

-

2,000

4,000

6,000

8,000

10,000

12,000

2010 2011 2012 2013Q1 2013Q2 2013Q3

MRR per Cabinet

Thank You