[PPT] - VGI Global Media PCL VGI General Presentation & 1Q 2016/17 PowerPoint Presentation

SLIDE 1

VGI Global Media PCL

VGI General Presentation & 1Q 2016/17 Earnings Update

October 2016

Prepared by Investor Relations Department VGI Global Media Plc

SLIDE 2

Prepared by Investor Relations Department VGI Global Media Plc Investment involves risk. Prospective should understand the characteristics of Securities and study information about VGI Global Media Public Company Limited (“VGI” or the “Company”) before making a decision to invest in Securities. This Presentation is not intended to provide the basis for any investment decision, nor to substitute your own analysis and investigation, and should not be considered as a recommendation to any recipient of this Presentation. Some statements made in this presentation are forward-looking statements, which are subject to various risks and uncertainties. These include statements with respect to the Company’s corporate plans, strategies and beliefs and other statement that are not historical facts. These statement can be identified by the use of forward-looking terminology such as “may”, “will”, “expect” , “intend”, “estimate”, “continue”, “plan” or other similar words. The statements are based on the assumptions and beliefs of the Company’s management in light of the information currently available to the Company. These assumptions involve risks and uncertainties which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Nothing in this Presentation is, or should be, relied

n as promise or representation of the Company as to the future.

Disclaimer

2

SLIDE 3

Prepared by Investor Relations Department VGI Global Media Plc

3 Section 1 Company Overview 4 Section 2 Thai Media Market Overview 8 Section 3 Business Profile Section 3.1 BTS-related Media 10 Section 3.2 Office Building Media 17 Section 3.3 Other Media 20 Section 4 Financial Information & 1Q 2016/17 Performance and Business update 28 Section 5 Organisation and Company Structure 36 Appendices

Agenda

SLIDE 4

Prepared by Investor Relations Department VGI Global Media Plc

4

Company Overview

Key Milestone

Section 1: Company Overview 2003 - 2005

VGI granted initial

“Advertising Display Concession Agreement” from; 2003: Watsons 2004: Tesco Lotus (non-Sales fl.) 2005: Big C (non-Sales fl.)

2009/10

BTSC becomes major

shareholder of VGI

VGI acquired POV, whose

business is providing advertising service across premiere office building in Bangkok CBD

VGI granted the right to

manage advertising area on the BRT for approximately 7 years

2011/12

VGI granted initial “Advertising

Display Concession Agreement” in “Sales floor” from Tesco Lotus and Big C

2012/13

Amended “License to Manage

Marketing Services Agreement” with BTSC

VGI was successfully listed on SET

in Oct 2012

BSS was established in 2012 to
perate Rabbit Card business

with exclusive rights from BTS sky train network and BRT

2013/14

Jul 2013

VGI was included as a

constituent member of SET 100 Index Jan 2014

VGI was included as a

constituent member of SET 50 Index

2014/15

May 2014

Entered into outdoor media

by investing in MACO 24.96% of its total shares July 2014

Selected to be the “Best

under a Billion” of small and midsize listed companies by forbes 2014

2015/16

Mar 2015

Announced our intention to

evolve in “Nationwide Integrated Media Platform” May 2015

Received right to manage

advertising space on 7 extensions (On-nut –Bearing and Krungthon Buri- Wongwan Yai from 2015-2029

Entered into aviation media

by investing in Aero Media 20% of its total shares

Terminated Modern Trade

media business Nov 2015

Granted right to manage

advertising for Artista Media across 219 residential buildings

1995

Established under the name

Global Technologies and Telecom Co.,Ltd .and changed its name to VGI Global Media Co.,Ltd. in December 1998

2016/17

May 2016

Increased stake in MACO to

37.42% Aug 2016

VGI announced to acquire

90% in BSS and 90% in BSSH*

Increased stake in Aero Media

to 30%

1999

Commencement of

advertising management and

perations of 23 BTS core

network stations and all trains under and exclusive license by BTSC which will be expired in December 2029

*Transaction is subject to EGM, which will be held on 7 November 2016.

SLIDE 5

Prepared by Investor Relations Department VGI Global Media Plc 1,053 1,033 755 2.5% 2.7% 2.7%

0.0% 1.0% 2.0% 3.0% 4.0%

500

1,000 1,500

2013/14 2014/15 2015/16 Dividend (THB mn) Dividend Yield (%) (THB) (THB mn)

5

% September 16 1 BTSC 51.0% 2 BTSG 19.4% 3 BANGKOK BANK 3.5% 4 THAI NVDR 2.7% 5 STATE STREET BANK EUROPE LIMITED 2.0% 6 NORTRUST NOMINEES LIMITED 1.8% 7

MR. NARES NGAMAPHICHON

1.8% 8 N.C.B. TRUST LIMITED-NORGES BANK 1.7% 9 CHASE NOMINEES LIMITED 1.3% 10 KRUNGSRI LONG TERM DIVIDEND FUND 0.7% TOTAL TOP 10 SHAREHOLDERS 85.9% TOTAL ISSUED SHARES (mn shares) 6,864,332,902

SHAREHOLDING STRUCTURE (as of September 2016) DIVIDEND INFORMATION

Note:

Dividend yield is calculated using VGI closing share price one day before the date of BOD meeting approving the relevant dividend.
2013/14 and 2014/15 interim dividend included stock dividend (at par value) of 25:1 and 1:1, respectively.
2015/16 dividend yield per share is calculated from share price one day before AGM on 6 July 2015

Dividend Policy: Not less than 50% of net profit.

SHARE PRICE MOVEMENT (as of 30 SEPTEMBER 2016)

BTSC BTSG Kanjanapas Family BTSG’s Minorities BTSC’s Minorities 41.0% 59.0% 97.5% 2.5% 0.1% 51.0% Public Kanjanapas Family 29.2% 0.5% 19.4%

TOP 10 SHAREHOLDERS (based on latest close book) Section 1: Company Overview

Company Overview

At a glance

Payout Ratio 13/14 14/15 93% 123% 15/16 85%

5.55

500.0

1,000.0 1,500.0 2,000.0 2,500.0

1.0

2.0 3.0 4.0 5.0 6.0 7.0 8.0

12-Oct-12 12-Oct-13 12-Oct-14 12-Oct-15 VGI TURNOVER (RHS) SET Index (rebased) VGI TB ADTV = THB 137mn

SLIDE 6

Prepared by Investor Relations Department VGI Global Media Plc

6

Company Overview

3 Active Business Units

BTS-related Media Office Building Media Other Media

This business unit proved to be the most resilient performer in our business portfolio. The Company possess exclusive rights to manage advertising space

n BTS SkyTrain Network, which expires in 2029 and

has right of refusal for Core Network and new extension lines that BTS secures post 2029. Altogether, we manage advertising space across 30 stations & all BTS trains. BTS-related Media has one

f the highest viewer exposure in OOH Media with an

average of 720,155 viewers per day in 2015/16. We initiated this business unit back in 2009 by acquiring POV with 41 grade A buildings in the

portfolio. Today, we have expanded our media across

142 office buildings with approximately 700,000 viewers per day. Moreover, VGI has tapped into condominium network through ARTISTA covering more than 219 condominiums making us the largest media company to provide advertising across 354 buildings with over 1,693 digital screens. Through our connection with media agencies, the Company became the sales agent for several mega LED screens both domestically and internationally. Moreover, the Company expanded the footprint in OOH including

utdoor

and aviation media throughout several acquisitions.

REVENUE CONTRIB. GROSS PROFIT CONTRIB.

2014/15 2015/16

61% 86%

2014/15 2015/16

84% 95%

2014/15 2015/16

5% 10%

2014/15 2015/16

7% 9%

2014/15 2015/16

1% 2%

2014/15 2015/16

2%
3%

76 79 143 146 163 201

2010/11 2011/12 2012/13 2013/14 2014/15 2015/16

45 YRS CAGR: +21.6%

1 22 29 26 42

2010/11 2011/12 2012/13 2013/14 2014/15 2015/16

4 YRS CAGR: +133.6%

Section 1: Company Overview

HISTORICAL OPERATING REVENUE (THB mn)

934 1,143 1,422 1,679 1,805 1,813

2010/11 2011/12 2012/13 2013/14 2014/15 2015/16

5 YRS CAGR: +14.2%

SLIDE 7

Prepared by Investor Relations Department VGI Global Media Plc

7 Section 1 Company Overview 4 Section 2 Thai Media Market Overview 8 Section 3 Business Profile Section 3.1 BTS-related Media 10 Section 3.2 Office Building Media 17 Section 3.3 Other Media 20 Section 4 Financial Information & 1Q 2016/17 Performance and Business update 28 Section 5 Organisation and Company Structure 36 Appendices

Agenda

SLIDE 8

Prepared by Investor Relations Department VGI Global Media Plc

2009/10 2010/11 2011/12 2012/13 2013/14 2014/15 2015/16 TV Traditional media OOH Media Cinema Internet

ADVERTISING EXPENDITURES BY SECTOR (rebased)

OOH Media proved to be the fastest growing media sector

* Traditional Media includes Magazines, Radio and Newspapers

8

Thai Media Market Overview

Media landscape in Thailand

TRANSIT MEDIA INCREASED ITS MARKET SHARE CONTINUOUSLY

Transit is continue to dominate the OOH Media market share and is expected to increase on account of development of rail mass transit infrastructure.

TOP 10 ADSPEND BY BUSINESS SEGMENT

2014/15 2015/16

FMCG 40.4% 39.5% COMMUNICATIONS 7.7% 7.9% REAL ESTATE 6.7% 6.3% RETAIL SHOPS/STORES 5.5% 6.2% MEDIA & MARKETING 4.6% 4.8% TRAVEL & TOURS 3.5% 3.8% LEISURE 3.1% 3.1% FOOD OUTLETS & RESTAURANTS 2.3% 2.7% INSURANCE 2.7% 2.6% CREDIT/DEBIT CARDS 2.3% 2.3% Total 78.8% 79.2% Section 2: Thai Media Market Overview

Source: The Nielsen Company (Thailand) Limited. Excludes classified and house ads, Digital, Cable and Satellite TV.

THE TRANSITION FROM TRADITIONAL MEDIA TO OOH MEDIA

Rising in infrastructure, urbanisation and increasing number of people who spend time outdoor were driven the growth of Thailand OOH Media. 93bn 104bn 105bn 114bn 110bn 102bn 93bn

60 80 100 120 140 160 180

2007/08 2008/09 2009/10 2010/11 2011/12 2012/13 2013/14 2014/15 2015/16

Total Industry TV Traditional media* OOH Media Cinema +0.3% CAGR +2.4% CAGR

3.3% CAGR

+0.7% CAGR +5.7% CAGR 59% 60% 59% 60% 61% 62% 60% 28% 26% 25% 24% 24% 23% 23% 7% 7% 8% 9% 9% 10% 10% 5% 6% 7% 6% 5% 4% 6% 1% 1% 1% 1% 28% 30% 30% 30% 35% 40% 49% 59% 53% 49% 43% 41% 40% 47% 13% 16% 20% 27% 24% 19% 4% 2009/10 2010/11 2011/12 2012/13 2013/14 2014/15 2015/16 Transit Outdoor In-Store

SLIDE 9

Prepared by Investor Relations Department VGI Global Media Plc

9 Section 1 Company Overview 4 Section 2 Thai Media Market Overview 8 Section 3 Business Profile Section 3.1 BTS-related Media 10 Section 3.2 Office Building Media 17 Section 3.3 Other Media 20 Section 4 Financial Information & 1Q 2016/17 Performance and Business update 28 Section 5 Organisation and Company Structure 36 Appendices

Agenda

SLIDE 10

Prepared by Investor Relations Department VGI Global Media Plc

Exclusive rights for 23 stations on core network, 7 stations on BTS extension lines and all BTS trains

In Trains & On-Stations
Merchandising Area

First right to renew contract and extend space on additional mass transit projects that BTSC is granted the rights to operate media space

RIGHTS

23 Core Network: 18 May 2012 – 4 December 2029
7 Extensions: 6 May 2015 – 4 December 2029

EFFECTIVE PERIOD

5% - 20% of total BTS revenues/year (an increase of 5% every 5 years)
fixed rate for 7 extension stations

15/16 Transit Media AdSpend

THB 4.6bn

VGI, 55%

Note: based on a market discount rate of 30%

CONCESSION FEE (PAYABLE TO BTSC & BMA) Other, 45% MARKET SHARE IN TRANSIT BTS-RELATED MEDIA PROFILE

No. of location: 30 stations/52 trains

Static Media: > 4,000 displays Digital Media: 2,029 screens Viewer reach: 720,155 people/day Merchandising space: > 10,000 sqm. Target viewer:

Working people &

younger generation

Age 15 – 35
Middle Income
I. TRAIN (42%)
II. STATION (33%)
III. MERCHANDISING & OTHER (25%)

10

BTS-related Media

Overview

Section 3.1: BTS-related Media KEY CONCESSION TERMS OUR PRODUCTS (% OUT OF 2015/16 BTS-RELATED MEDIA REVENUE)

SLIDE 11

Prepared by Investor Relations Department VGI Global Media Plc

11

BTS-related Media

BTS Products

Section 3.1: BTS-related Media

Advertising media on 52 trains across 30 BTS stations

SLIDE 12

Prepared by Investor Relations Department VGI Global Media Plc

12

BTS-related Media

BTS Products

Section 3.1: BTS-related Media

More than 4,000 static displays and 2,029 digital screens

SLIDE 13

Prepared by Investor Relations Department VGI Global Media Plc

13

BTS-related Media

BTS Products

Section 3.1: BTS-related Media

More than 750,000 viewers per day

SLIDE 14

Prepared by Investor Relations Department VGI Global Media Plc

14

BTS-related Media

BTS Products

Section 3.1: BTS-related Media

Merchandising spaces More than 8,800 sq.m.

SLIDE 15

Prepared by Investor Relations Department VGI Global Media Plc

273.3KM ONGOING PROJECTS PRIORITISED BY THE GOVERNMENT, 137.7KM FOCUSED BY BTS IN 5 YEARS 15

See full map: Appendix A See full map: Appendix A

Total rail length (km)

No. of stations

Market share of commuters

Section 3.1: BTS-related Media MASTER RAIL MASS TRANSIT EXPANSION PLAN OF 515.3KM IN 13 YEARS 2016 2029E

EXISTING NETWORK (2016)

7% 107.8 60

42% 515.3 >320

FUTURE NETWORK (2029E)

LINE ROUTE OPERATE YEAR CONSTRUCTION PROGRESS DISTANCE (KM)

NO. OF STATIONS

BLUE HUA LAMPHONG - BANG KHAE 2019 UNDER CONSTR. 14.0 11 BLUE BANG SUE - THA PRA 2019 UNDER CONSTR. 13.0 10 DARK RED BANG SUE - RANGSIT 2019 UNDER CONSTR. 26.3 N.A. DARK GREEN SOUTH BEARING - SAMUT PRAKARN 2018 UNDER CONSTR. 12.8 9 DARK GREEN NORTH MO CHIT – SAPHAN MAI – KHU KHOT 2019 UNDER CONSTR. 18.4 16 LIGHT GREEN BANG WA - BOROMMARATCHACHONNANI 2019 7.0 6 LRT BANG NA - SUVARNABHUMI 2019 18.3 14 GREY (I) WATCHARAPHON – THONG LO 2019 16.3 15 PINK KHAE RAI – PAK GRED – MIN BURI 2020 – 2021 34.5 30 YELLOW LAD PRAO – SAM RONG 2020 – 2021 30.4 23 DARK GREEN SAMUT PRAKARN - BANGPU 2020 – 2021 7.0 4 ORANGE TALING CHAN – MIN BURI 2020 39.8 29 LIGHT RED BANG SUE - PHAYATHAI – MAKKASAN 2021 9.0 N.A. LIGHT RED MAKKASAN – HUA MARK 2021 10.0 N.A. DARK RED RANGSIT – THAMMASART UNIVERSITY 2019 10.0 N.A. DARK RED BANG SUE - HUA LAMPHONG 2021 6.5 N.A. TOTAL (KM) 274.8 >167

137.7km focusing by BTS which benefiting VGI

BTS-related Media

Upside from mass transit expansion

SLIDE 16

Prepared by Investor Relations Department VGI Global Media Plc

coup d’etat subprimeyellow shirt red shirt floods shutdown BKK coup d’etat

543 637 757 750 581 655 648 602

2012/13 2013/14 2014/15 2015/16 Digital Static 129 272 308 406 427 468 583 734 889 934 1,143 1,422 1,679 1,805 1,813 74 93 102 116 127 140 132 136 144 145 183 202 222 229 244

50

100 150 200 250

500

1,000 1,500 2,000 2,500 3,000

BTS-related Media (THB mn) Ridership: core and existing extensions (mn trips)

CONSISTENT AND RESILIENT REVENUE GROWTH

REVENUE CAGR (14 YRS): 21% RIDERSHIP CAGR (13 YRS): 9%

Despite frequent interruptions, ridership growth drives continuous revenue growth of BTS-related Media. DIGITAL MEDIA PENETRATION IS RELATIVELY LOW IN THAILAND BTS-RELATED MEDIA REVENUE CONTRIBUTION (DIGITAL VS STATIC MEDIA) 48% 49% 54% 46% 51% 52% 1,124 1,292 1,405 BTS Digital Media platform (Platform Truss LEDs and E-Posters) launched in late 2014 and still has room to grow due to increased capacity and strong recovery post economic slump.

(THB mn)

16

4X

*BTS’ existing network , Dark Green South, Dark Green North and Light Green lines **LRT, Grey and Pink Lines *** Including Display, Search, Social Media, Creative, Mobile, Facebook Ad and Video

EXPANSION OPPORTUNITIES WITH RAIL MASS TRANSIT INCREASED DIGITALISATION OF OUR MEDIA PLATFORM

4X EXPECTED INCREASE IN BTS TRAIN CAPACITY IN 5 YRS (108.8KM) 4X EXPECTED INCREASE IN BTS EXTENSION STATIONS IN 5 YRS (108.8KM) Green Lines (carriages)* Other lines (carriages)** 208 none 2014/15 2019/20E 412 418 Total (carriages) 208 830

4X

Green Lines (no. of station) * Other lines (no. of station) ** 34 none 2014/15 2019/20E 66 57 Total (no. of station) 34 123 Digital media market share is expected to increase over time as its platforms provide more capacity and are cost effective. Moreover, it proves to be more adaptable and dynamic than traditional media

Source: Digital Media Advertising Association (Thailand)

Section 3.1: BTS-related Media

BTS-related Media

Upside from mass transit expansion and increased digitalisation

97.7% 96.4% 94.0% 93.0%

2.3% 3.6% 6.0% 7.0% 2012 2013 2014 2015 Digital (online)*** Offline

1,352 55% 45%

SLIDE 17

Prepared by Investor Relations Department VGI Global Media Plc

Exclusive rights to manage 142 grade A buildings in CBD

RIGHTS

3-5 years on average

LENGTH OF CONTRACT

Approximately 20 – 30% revenue sharing and fixed rates

CONCESSION FEE

VGI, 66%

Available grade A building, 34%

Grade A and B Building in Bangkok

215 Buildings

MARKET SHARE IN OFFICE OFFICE BUILDING MEDIA PROFILE

No. of location: 142 Grade A buildings

in Bangkok Multimedia: 1,144 screens Viewer reach: > 660,000 people/day Target viewer:

Age 24-25
Middle – high

income Average time spend in an elevator 14 mins/day

I. MEDIA INSIDE ELEVATORS AND OFFICE BUILDING AREAS

17

Office Building Media

Overview

Section 3.2: Office Building Media KEY CONCESSION TERMS OUR PRODUCTS

SLIDE 18

Prepared by Investor Relations Department VGI Global Media Plc

18

Office Building Media

LCD Screen in elevator

Section 3.2: Office Building Media

142 office buildings

with 1,144 screens

SLIDE 19

Prepared by Investor Relations Department VGI Global Media Plc 19 76 79 145 149 163 201 41 41 47 51 75 103 135

20 40 60 80 100 120 140 100 200 300 400 500 600 700

2009/10 2010/11 2011/12 2012/13 2013/14 2014/15 2015/16 Office Building Media Revenue (THB mn)

No. of building
I. OFFICE BUILDING NETWORK EXPANSION VS REVENUE

REVENUE CAGR (6 YRS) : 48%

II. NEW OFFICE SUPPLY IN BANGKOK

Source: CB Richard Ellis (Thailand) Co., Ltd.

19

5% 13% 26% 12% 44% below THB 15K THB 15-25K THB 25-50K THB 50-60K THB 60K+

I. HOUSEHOLD INCOME PROFILE IN OFFICE BUILDING (per month)
II. VGI’S OFFICE BUILDING NETWORK IN BANGKOK BY DISTRICT

Source: Company’s research

VGI network is currently CBD concentrated

VGI’s office building network Bangkok CBD

KEY GROWTH DRIVERS

Office building set to recover post economic slump and additional of office buildings Expected of 318,000 sq.m. new office supply in the next 3 years

OFFICE BUILDING MEDIA PROFILE Section 3.2: Office Building Media

Office Building Media

Upside from our existing office asset base and new office supply

47 112 22 20 86 62 30 25 139 23 23 197 50 191 10 2009 2010 2011 2012 2013 2014 2015 2016F 2017F 2018F CBD ('000 sq.m.) Non CBD ('000 sq.m.)

6

SLIDE 20

Prepared by Investor Relations Department VGI Global Media Plc

Outdoor Media (billboard, street furniture & transit)

37.42% stake in Master Ad PCL (MACO; listed on SET)

Aviation Media

30% stake in Aero Media Co., Ltd. (Aero Media manages advertising

space across 13 airports under AOT and DCA) Roadside Media

11.11% stake in Midas Global Media Co., Ltd. (MIDAS; non-listed)

INVESTMENT

Chamchuri Square (3 yrs + 3yrs contract)

Exclusive rights to operate media space inside/outside Chamchuri

Square (~127 panels of static and digital) Empire Tower (5 yrs contract)

Exclusive rights to operate mega LED at Empire Tower

Buses

Chulalongkorn University (CU Bus) - 15 buses and 15 bus-stops
BRT buses

CONTRACTS

Artista Media

Manage 549 LCD Screens across 219 residential buildings
Condominiums in portfolio: AP, LPN, U Delight and Grand Unity

Thai AirAsia (3 yrs)

Manage media on 30 planes & future fleets
Contract with renewable rights

Street Furniture (3 yrs)

Street Furniture including BTS columns and bridge columns on major

junctions across Bangkok. Mega LEDs

+200 sq.m. LED in Bangkok and Lao

EXCLUSIVE SELLING AGENT

II. CONTRACTS AND EXCLUSIVE SELLING AGENT
I. INVESTMENT IN MACO, MIDAS & LED

20

Other Media

Overview

Section 3.3: Other Media KEY CONCESSION TERMS OUR PRODUCTS

SLIDE 21

Prepared by Investor Relations Department VGI Global Media Plc

Billboard, 59% Transit, 1% Production & Event, 6% Street furniture, 35%

Product Locations/Areas Billboard Bangkok & vicinity / 667 billboards Street Furniture In 69 provinces / 554 billboards Transit City grip light express & Mo Chit station / 124 signs & 7 light boxes Made to order & Event n/a

ACQUIRED 37.42% IN MACO PLC. 21

VGI invested 37.42% in MACO (1,126mn shares)
Total investment value of THB 1,109mn
MACO Plc. is one of the leading OOH Media company and listed
n the SET.
MACO has 28 years experience in OOH Media advertising with a

network of more than 1,200 billboards across Bangkok and vicinity.

Strategic investment to expand VGI’s OOH Media network and to

achieve long-term synergy between two companies.

Capable and proven management

Section 3.3: Other Media

636 732 725 622 694 98 140 174 133 171

2011 2012 2013 2014 2015

Operating revenue (THB mn) Net Profit (THB mn)

Other Media

Expand our market share in OOH media through acquisitions

FINANCIAL OVERVIEW 2015 TOTAL OPERATING REVENUE THB 694mn MACO PRODUCTS

Share information (as of 30 September 2016) Stock code: MACO Market capitalisation (THB mn): 3,581 Outstanding shares (mn shares): 3,009 Par value (THB) 0.1

Billboard Street furniture

FINANCIAL PERFORMANCE 2015 Dividend Yield of 4.3%

SLIDE 22

Prepared by Investor Relations Department VGI Global Media Plc

36.4 38.9 42.4 45.1 46.9 39.8 45.3 51.8 55.1 66.5 87.6 106.8 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

ACQUIRED 30% IN AERO MEDIA CO., LTD. 22

VGI invested 30% in new shares of Aero Media
Another

big step for VGI in aviation media industry after collaboration with AirAsia

Dominant position by covering 13 leading airports in Thailand
Potential expansion in new media projects with new capital injected

by VGI

Solid relationship in aviation industry

Product

No. of

screens/products

No. of airports

LEDs at AOT 335 6 LEDs at DCA 7 7 Aerobridges 57 5 Buggy service cart wrap 12 1 Trolleys 4,500 6 Media on Thai Lion Air 19 planes

AOT airport websites management

All the websites 6

Section 3.3: Other Media

Other Media

Expand our market share in OOH media through acquisitions

AERO MEDIA GROUP STRUCTURE

At Peak

57 aerobridges

in 5 AOT airports

Buggy service

cart wrap in Suvarnabhumi Airport Prime World Solution

Official

AOT/airport websites management Media Genius

Sale agent for

advertising media 100% 100% 100%

AERO MEDIA

342 LEDs in 13 Airports

AERO MEDIA PRODUCTS

10 YRS CAGR: 10.3% Strong expected growth driven by an increasing air traffic will directly facilitating Aero Media’s performance.

HISTORICAL NUMBER OF PASSGENGER

Source: Airport of Thailand PLC.

SLIDE 23

Prepared by Investor Relations Department VGI Global Media Plc

23 Section 3.3: Other Media

Other Media

MACO Products

More than 650 billboards

across Bangkok and vicinity.

SLIDE 24

Prepared by Investor Relations Department VGI Global Media Plc

24 Section 3.3: Other Media

Other Media

MACO Products Street furniture More than 550 billboards In Bangkok

SLIDE 25

Prepared by Investor Relations Department VGI Global Media Plc

25

Other Media

Aero Media Products

Section 3.3: Other Media

342 Screens

ALL gates in Suvanabhumi airport > 115 million Passengers in 2015

*Source: Aero Media

SLIDE 26

Prepared by Investor Relations Department VGI Global Media Plc

26 Section 3.3: Other Media

*Source: Aero Media

19 Thai Lion Air airplanes.

215 Seats/ Plane 47 Flights/ Day

Other Media

Aero Media Products

SLIDE 27

Prepared by Investor Relations Department VGI Global Media Plc

27 Section 1 Company Overview 4 Section 2 Thai Media Market Overview 8 Section 3 Business Profile Section 3.1 BTS-related Media 10 Section 3.2 Office Building Media 17 Section 3.3 Other Media 20 Section 4 Financial Information & 1Q 2016/17 Performance and Business update 28 Section 5 Organisation and Company Structure 36 Appendices

Agenda

SLIDE 28

Prepared by Investor Relations Department VGI Global Media Plc

VGI Financial Performance

28

. VGI’s overall revenue growth fell mainly due to the impact of the Modern Trade business termination. BTS-related media faced challenges from overall media spending decline as price dumping from other media players made other mediums temporarily more attractive to agencies. Nevertheless, further enhancement in both top line and profitability is anticipated through new mass transit expansion. As Bangkok’s office supply is currently 91% utilized, it is expected that more than 318,000 sq.m. of new office supply to be launched in the next 3 years. Hence, this business unit will benefit from the anticipated new office supply. Following the business restructuring, we are left with more profitable business units. Our gross profit margin increased to 63.5% in 2015/16 from 55.3% in 2014/15. Net profit margins also improved markedly from 28.3% to 44.7%. The Company has almost zero debt.

1 2 3 4 5 1 2 3 4 5

61%84% 33% 6%

* The Company terminated the Modern Trade Media business in 4Q 14/15. Therefore, this business unit will no longer generate revenue from 2Q 15/16 onwards.

Section 4: Financial Information & 4Q 15/16 performance

2012/13 (restated) 2013/14 2014/15 2015/16 YoY (%) INCOME STATEMENT (THB mn) Operating Revenue 2,838 3,149 2,963 2,106

28.9%

BTS-related Media 1,422 1,679 1,805 1,813 0.4% Office Building & Other Media 166 175 189 243 28.6% Modern Trade Media 1,250 1,295 969 50

94.8%

Cost of sales 1,289 1,342 1,325 769

42.0%

Gross profit 1,548 1,807 1,638 1,337

18.4%

EBITDA 1,289 1,510 1,225 1,336 9.1% Net profit 902 1,146 838 941 12.3% BALANCE SHEET (THB mn) Total assets 2,579 2,741 3,286 3,099 Total liabilities 758 788 1,457 857 Total shareholders' equity 1,821 1,953 1,829 2,242 CASH FLOW (THB mn) Cash from operating activities 560 1,292 1,070 784 Capital expenditures (323) (510) (521) (158) PER SHARE DATA (THB/ share) Earnings per share 3.4 0.3 0.1 0.1 Dividend per share 2.0 0.3 0.2 0.1 Book value per share 0.6 0.6 0.3 0.3 KEY RATIOS Gross profit margin (%) 54.6% 57.4% 55.3% 63.5% EBITDA margin (%) 45.4% 47.9% 41.4% 63.5% Net profit margin (%) 31.8% 36.4% 28.3% 44.7% Net debt to equity (times) No leverage 0.3x 0.1x ROA (%) 46.3% 43.1% 27.8% 39.5% ROE (%) 85.3% 60.7% 44.3% 46.2%

Office Building & Other Media Modern Trade Media* BTS-related Media

86.1% 11.5% 2.4%

THB 2,106mn

SLIDE 29

Office building & other media 29

CONSOLIDATED P&L SNAPSHOT (FINANCIAL STATEMENT)

1Q 2016/17 Overview

Section 1: Financial Performance

(THB mn) 1Q 16/17 4Q 15/16 1Q 15/16 QoQ (%) YoY (%) Operating revenue 551 500 549 10.1% 0.3%

Cost of sales 212 175 218 21.2%

2.8%

Gross profit 338 325 331 4.2% 2.3% EBITDA 444 308 343 44.5% 29.6% NPAT from operation 193 210 195

7.9%
1.0%

NPAT (after minority interest) 313 210 240 49.3% 30.6% Margin (%) Gross profit margin 61.5% 65.0% 60.3% EBITDA margin 80.7% 61.5% 62.4% NPAT margin from operation 35.1% 41.9% 35.5% NPAT margin (after minority interest) 56.8% 41.9% 43.6% 78.0% 10.0% 12.0% 1Q 16/17 REVENUE CONTRIBUTION

THB 551mn Outdoor BTS-related media

REVENUE BY BUSINESS UNITS (THB MN)

445 54 50 434 66 430 55 66

BTS-related Outdoor

Off. Bldg & Others

Modern Trade 1Q 15/16 4Q 15/16 1Q 16/17

3.5% YoY

+0.21% QoQ +22.0% YoY

1.0% QoQ

1 month consolidation

SLIDE 30

190 149 106 173 137 125 185 132 112

Train Station Merchandising & Others 1Q 15/16 4Q 15/16 1Q 16/17

45 9 55 11 57 9

Office Building Other Media 1Q 15/16 4Q 15/16 1Q 16/17

445 434 430

1Q 15/16 4Q 15/16 1Q 16/17

30

BTS-RELATED REVENUE (THB mn) BTS-RELATED REVENUE BREAKDOWN (THB mn) OFFICE BUILDING & OTHER REVENUE (THB mn)

Financial Performance by Sector

OFFICE BUILDING & OTHER REVENUE BREAKDOWN (THB mn)

42.6%39.8% 82.5% 86.1% 83.3%

Section 1: Financial Performance 54 66 66

1Q 15/16 4Q 15/16 1Q 16/17 +0.2% QoQ +22.0% YoY

3.5% YoY
1.0% QoQ

+3.3% QoQ +27.3% YoY

15.0% QoQ
3.2% YoY

17.5% 13.9% 16.7% 43.1% 33.5%31.5%32.7% 23.9% 28.7%26.1%

SLIDE 31

112 219 243 206 295 26 26 198 246 162

Beginning cash (31/3/2016) CFO Investment in MACO CapEx Dividend Short-term loan Ending cash (30/06/2016)

31

ASSETS BREAKDOWN (THB mn) LIABILITY & EQUITY BREAKDOWN (THB mn) CASH FLOW (THB mn)

Balance Sheet & Cash Flow

2,262 3,081 837 1,396 31-Mar-16 30-Jun-16 27% 73% Non-current assets Current assets 31% 69% 4,477 3,099 2,242 3,172 35 135 822 1,170 31-Mar-16 30-Jun-16 Equity Non-current liabilities Current liabilities 72% 1% 27% 71% 3% 26% 3,099 4,477 Actual Target 1Q 16/17 2016/17 BTS-related Media 20 100 Office building & Others 5 200 Outdoor Media 1 200 Total 26 500

CAPEX (THB mn)

Section 1: Financial Performance

CFI of THB 295mn

355 627

Maco’ S/T investment VGI’ S/T investment Cash* VGI’ S/T investment Cash

*Cash from VGI of THB 100mn and MACO of THB 119mn

SLIDE 32

Prepared by Investor Relations Department VGI Global Media Plc

12.46% of founder group are:- 4.99% DCROP Group 4.15% maneerattanporn 3.32% Tansalarak

pre acquisition & tender offer post acquisition & tender offer

founder group, 26.26% public, 48.79% VGI, 24.96% Acquire additional 12.46% from founder group founder group, 13.79% VGI, 37.42% public, 48.79% (tender offer)

PRE VS POST STRUCTURE

Product Locations/Areas

No. of network

Billboard Bangkok & upcountry 567 Street Furniture In 69 provinces 654 Transit City grip light express Mo Chit station Made to order & Event

Total

1,221

ACQUIRED AN ADDITIONAL 12.46% IN MACO 32

VGI acquired an additional 375mn shares (or 12.46%) in MACO

with total investment of THB 412.5mn, resulting in a total holding

f 1,126mn share (or 37.42%) in MACO.
MACO Plc. is one of the leading OOH Media company and listed
n the SET.
MACO has 28 years experience in OOH Media advertising with a

network of more than 1,300 billboards nationwide

Strategic investment to expand VGI’s OOH Media network and to

achieve long-term synergy between two companies.

Capable and proven management

Section 2: Business Update

Business Update

Strategic investment: acquired an additional 12.46% in MACO

MACO PRODUCTS FINANCIAL PERFORMANCE

636 732 725 622 694 98 140 174 133 171 15% 19% 24% 21% 25% 2011 2012 2013 2014 2015

Operating revenue (THB mn) Net Profit (THB mn) NPAT margin (%)

SLIDE 33

Prepared by Investor Relations Department VGI Global Media Plc

33 Section 2: Business Update

Business Update

MACO announced its intention to acquire 70% in Multi Sign

MACO AGREED TO ACQUIRE 70% IN MULTI SIGN

MACO announced an agreement to acquire 70% in Multi Sign

(THB 439mn)

Multi Sign is one of the leading outdoor media company with

more than 13 years experience in outdoor media advertising.

MACO will expand its nationwide footprint through Multi Sign.
MACO & Multi Sign’ revenue capacity is expected to increase

from THB 900mn to THB 1,200mn.

Potential from a conversion from existing static media to digital

media at strategic locations.

MACO 1,221 panels 63 provinces Multi Sign 862 panels 70 provinces

16% 20% 25% 70% 84% 80% 75% 30%

Population Number of Households Household income Out-of-Home Adspend

Bangkok & Vicinities Upcountry

UPCOUNTRY NEEDS MORE ADVERTISING (% of national total)

Up-country advertising market is still underserved when comparing to the penetration relative to population, households and household income.

NATIONWIDE FOOTPRINT

SLIDE 34

Prepared by Investor Relations Department VGI Global Media Plc

AERO MEDIA 34

We are now in the process to increase our stake in Aero Media
VGI currently invested 20% in Aero Media since 2014 with an
ption to increase our stake up to 30%.
Dominant position by covering 13 leading airports, including

Suvanabhumi and Don Mueang airport, in Thailand

Potential expansion in new media projects with new capital

injected by VGI

Solid relationship in aviation industry

Section 2: Business Update

Business Update

In the process to increase our stake in Aero Media up to 30%

AERO MEDIA PRODUCTS HISTORICAL REVENUE (THB MN)

Product

No. of products
No. of airports

LED screen at AOT 335 6 LED screen at DCA 7 7 Aerobridges 57 5 Buggy service cart wrap 12 1 Trolleys 7,000 6 Media on Thai Lion Air 19 planes

AOT airport websites management

All the websites 6

AERO MEDIA GROUP STRUCTURE

At Peak

57 jet bridges

in 5 AOT airports

Buggy service

cart wrap in Suvarnabhumi Airport Prime World Solution

Official

AOT/airport websites management Media Genius

Sale agent for

advertising media 100% 100% 100%

AERO MEDIA

342 LEDs in 13 Airports

99 221

2014 2015 +125% YoY

SLIDE 35

35 Section 1 Company Overview 4 Section 2 Thai Media Market Overview 8 Section 3 Business Profile Section 3.1 BTS-related Media 10 Section 3.2 Office Building Media 17 Section 3.3 Other Media 20 Section 4 Financial Information & 1Q 2016/17 Performance and Business update 28 Section 5 Organisation and Company Structure 36 Appendices

Agenda

SLIDE 36

Prepared by Investor Relations Department VGI Global Media Plc

36

Board of Directors Company Secretary Audit Committee Executive Committee Nomination and Remuneration Committee Internal Audit Office Chief Executive Officer Chief Operating Officer Chief Sales and Marketing Officer Chief Technology Officer Chief Financial Officer Chief Legal and Compliance Officer

Organisation and Company Structure

ORGANISATION STRUCTURE COMPANY STRUCTURE

Company / Address Type of Business Listed Shareholding VGI Advertising Media Co., Ltd. Media service No 100.00% 888 Media Co., Ltd. Media service No 100.00% Point of View (POV) Media Group Co., Ltd. Media service in office buildings No 100.00% Company / Address Type of Business Listed Shareholding Master Ad Plc. OHM media service Yes 37.42% Aero Media Co., Ltd. Aviation media service No 30.00%

I. SUBSIDIARIES
II. ASSOCIATED

Section 5: Organisation and Company Structure

Company / Address Type of Business Listed Shareholding Midas Global Media Co., Ltd. Media service No 9.09%

III. JOINT VENTURE

Advisory Board Corporate Governance Committee

SLIDE 37

Prepared by Investor Relations Department VGI Global Media Plc

37 Section 1 Company Overview 4 Section 2 Thai Media Market Overview 8 Section 3 Business Profile Section 3.1 BTS-related Media 10 Section 3.2 Office Building Media 17 Section 3.3 Other Media 20 Section 4 Financial Information & 1Q 2016/17 Performance and Business update 28 Section 5 Organisation and Company Structure 36 Appendices

Agenda

SLIDE 38

Prepared by Investor Relations Department VGI Global Media Plc

Bangkok Rail Mass Transit Master Plan

515.3km* by 2029, 42.4% share of Mass Transit commute by 2032

* Include MRTA and BMA projects Sources: Office of Transport and Traffic Policy and Planning and Bangkok Metro Politian Administration.

Appendix 2: Bangkok Rail Mass Transit Master Plan 38

SLIDE 39

Prepared by Investor Relations Department VGI Global Media Plc

Existing Bangkok Mass Transit Network

Immature Network, 107.8km as of 2016

Appendix 2: Existing Bangkok Mass Transit Network 39

LINE ROUTE DISTANCE (KM) OPERATING SINCE DARK GREEN (CORE) MO CHIT – ON NUT 17.0 DEC 99 LIGHT GREEN (CORE) NATIONAL STADIUM – SAPHAN TAKSIN 6.5 DEC 99 BLUE BANG SUE – HUA LAMPHONG 20.0 JUL 04 LIGHT GREEN (EXTENSION) SAPHAN TAKSIN – WONGWIAN YAI 2.2 MAY 09 AIRPORT LINK (RED LINE) PHAYATHAI – SUVARNABHUMI 28.5 AUG 10 DARK GREEN (EXTENSION) ON NUT – BEARING 5.3 AUG 11 LIGHT GREEN (EXTENSION) WONGWIAN YAI – BANG WA 5.3 DEC 13 PURPLE BANG YAI – BANG SUE 23.0 AUG 16

EXISTING LINES – 107.8KM; 76 STATIONS

CORE NETWORK EXTENSIONS TO OUR CURRENT CORE NETWORK

3 RAIL MASS TRANSIT OPERATORS

BTS: 36.3km
BEM: 43.0km
SRT: 28.5km

(Airport Rail Link)

SLIDE 40

Prepared by Investor Relations Department VGI Global Media Plc

Potential Developer of Mass Transit Extension

BTSG focused on 7 lines: total length of 137.7km

Appendix 2: Mass Transit Extensions (focused on 7 lines: 137.7km) 40

PINK LINE

Khae Rai – Min Buri (34.5km)
Bidding submission: Nov 2016
Target operation: 2020

DARK GREEN NORTH LINE

Mo Chit – Saphan Mai – Khu Khot (18.4km)
Status: under construction
Expected O&M award: 2016
Target operation: 2020

GREY LINE

Watcharaphol – Rama 9 Bridge (26.0km)
Awaiting EIA approval
Expected bidding (Phase I): 2017
Target operation (Phase I): 2021

Phase I: Watcharaphol – Thong Lo (16.3km)

LIGHT RAIL TRANSIT (LRT)

Bang Na – Suvarnabhumi (18.3km)
Expected bidding: 2017
Target operation: 2021

DARK GREEN SOUTH LINE

Bearing – Samut Prakarn (12.8km)
Status: under construction
Expected O&M award: 2016
Target operation: Late 2018

LIGHT GREEN LINE

Bang Wa –

Borommaratchachonnani (7.0km)

Expected O&M award: 2017
Target operation: 2019

YELLOW LINE

Lad Prao– Sam Rong (30.4km)
Bidding Submission: Nov 2016
Target operation: 2020

SLIDE 41

Prepared by Investor Relations Department VGI Global Media Plc

WARRANT ISSUANCE: KEY TERMS & CONDITIONS STOCK DIVIDEND TICKER VGI-W1 TERMS 4 Years EX-RIGHTS DATE 9 July 2014 EXERCISE PERIOD Quarterly basis WARRANT PRICE Free ALLOCATION To existing shareholders at the ratio of 4 VGI existing shares : 1 VGI-W1

NO. OF WARRANTS

Up to 857,993,407 Units EXERCISE RATIO 1 VGI-W1 to 2 ordinary share of VGI EXERCISE PRICE THB 7.00

Free warrants
Preferential right to existing shareholders
Funding to be used for potential acquisitions/ Capex

RATIONALE

Expected maximum proceeds THB 12,011,067,698

1:1 STOCK DIVIDEND (INCREASING CAPITAL)

No. of allocated shares

3,431,975,575 shares Total shares after increasing capital 6,863,978,450 shares

STOCK AND CASH DIVIDEND

Ratio of stock dividend payment 1 VGI existing share: 1 stock dividend or at rate

f THB 0.10 per share

Cash dividend payment THB 0.011111111111 per share XD Date 17 Mar 2015 Payment Date 31 Mar 2015

VGI Warrant Issuance and Stock Dividend

41 Appendix 3: VGI Warrant and Stock Dividend