VGI Global Media PCL VGI Group General Presentation November 2018 - - PowerPoint PPT Presentation

Prepared by Investor Relations Department VGI Global Media Plc

VGI Global Media PCL

VGI Group General Presentation

November 2018

Prepared by Investor Relations Department VGI Global Media Plc

2

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

Prepared by Investor Relations Department VGI Global Media Plc

Agenda

3 Section 1 Company at a Glance 4 Section 2 Strategic Direction 8 Section 3 Focus on Fast-Growing Industry: Media and E-Commerce 12 Section 4 Business Profile by Segment and Potential Upsides Section 4.1 Advertising 15 Section 4.2 Payment 25 Section 4.3 Logistics 27 Section 5 O2O Showcases 30 Section 6 2017/18 Financial Performance 35 Section 7 2Q 2018/19 Financial in More Detail & Business Update 37 Appendices

Prepared by Investor Relations Department VGI Global Media Plc

Company at a Glance

Key investment features

4

Section 1: Company at a Glance Leading in a strong industry with diversified world-class assets

• #1 share position in OOH advertising – with over THB 7,000mn

inventory on hand

• #1 share position in micropayment (Rabbit Group) – with more

than 4mn rewards members

• #1 share position in logistics (Kerry Express) - delivers more than

1,000,000 parcels daily Exclusive market positions

• Partnership with leading players including BTS, LINE, Kerry Express,

AIS and Rabbit Group, directly connecting to 18mn users Solid growth prospects

• 4 – 5 times expected increase in transit media capacity by 2021/22

through relationship with BTS

• Exposure to the fast-growing e-commerce industry through Kerry

Express and Rabbit Group Largest and most profitable media company

• No. 1 listed Media Company on SET by market capitalisation of

THB 64,603m (USD 1,951m).

• Most profitable OOH media company in Thailand and is the top

five most profitable OOH media companies in Asia, generating THB 3,936m in total sales revenue with a superior profit margin of 21.5%.

Prepared by Investor Relations Department VGI Global Media Plc

Company at a Glance

Key milestone

5

Section 1: Company at a Glance

1BTS refers to Bangkok Mass Transit System Plc. 2POV refers to Point of View Media Group Co. Ltd. 3MACO refers to Master Ad Plc. 4Aero Media refers to Aero Media Group Co. Ltd. 5Demo Power refers to Demo Power (Thailand) Co. Ltd. 6Bangkok Smartcard System Co. Ltd. and BSS Holdings Co. Ltd.

1990s: Keeree Kanjanapas founded the BTS1, operator of BTS SkyTrain 1998: His son as business successor, Kavin Kanjanapas then invented the new concept and business model of BTS SkyTrain financed by advertising, laying the foundations for the company’s future success. VGI Global Media (“VGI”) was born. 1999: The BTS Skytrain system was officially opened. VGI was granted the exclusive right from BTS to manage the advertising spaces and commercial areas on all BTS network which will be expired in December 2029.

1990s - 1999 BEGINNINGS

THE NO.1 OOH NATIONWIDE MEDIA REAL ESTATE AGENT

2012: Become a publicly traded company on the SET 2013 – 2014: Included as a constituent member of SET 100 and SET 50 2015:

• Exited the Modern Trade media business.
• Expanded its stake in MACO3 to 37% – the leading Outdoor media with nationwide

network coverage and overseas expansion.

• Acquired 30% of Aero Media4 – the leading Aviation media across Thailand
• Acquired 40% stake in Demo Power5 – the leading demonstration services reaching

to end-consumer nationwide. 2016:

• Now present in all provinces of Thailand, VGI becomes the #1 Out-of-Home Media

Platform in Thailand

2012 – 2016 TRANSFORMING TO THE O2O SOLUTIONS

2017: Acquired 90% in Rabbit Group6 – the leading digital solutions. 2018: Successfully acquired 23% in Kerry Express (Thailand) – the leading parcel delivery services in Thailand.

2017 - Present EXPANSION

2003-2010: Entered into the Modern Trade media business at Tesco Lotus and Big C. 2009: Acquired 100% of POV2, the leading Office media in Bangkok CBD. 2010: Acquired the right to manage advertising on the BRT bus system

2003 – 2010

Prepared by Investor Relations Department VGI Global Media Plc

Company at a Glance

Shareholding structure, historical dividend payment and share price movement

6

1,033 755 412 741 2.7% 2.7% 1.2% 1.2%

2014/15 2015/16 2016/17 2017/18

Dividend (THB mn) Dividend Yield (%)

(THB) (THB mn)

SHAREHOLDING STRUCTURE (as of November 2018) DIVIDEND INFORMATION

Note:

• Dividend yield is calculated using VGI closing share price one day before the date of BOD meeting approving

the relevant dividend.

• 2014/15 interim dividend included stock dividend (at par value) of 1:1

SHARE PRICE MOVEMENT (as of 16 November 2018) SHARE INFORMATION (as of 31 October 2018)

Section 1: Company at a Glance Stock code VGI Outstanding shares (mn shares) 8,556.7 Market capitalisation (THB mn) 64,602.9 Market capitalisation (USD mn) 1,951.2 Average daily traded value (THB mn)* 84.7 Average daily traded value (USD mn)* 2.6

*Last 12 months average daily traded value

Kanjanapas Family BTSG’s Minorities 45.0% 0.5% 28.7% 25.7% 0.1% 41.0% 59.0% 97.5% BTSG Public BTSC Kanjanapas Family VGI 0.6%

7.85 200 400 600 800 1,000 1,200 0.0 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 9.0

VGI TURNOVER (RHS) SET Index (rebased) VGI TB

ADTV = THB 128mn

Payout Ratio: 2014/15 123% 2015/16 85% 2016/17 62% 2017/18 87% Dividend Policy: Not less than 50% of net profit

Prepared by Investor Relations Department VGI Global Media Plc

Agenda

7 Section 1 Company at a Glance 4 Section 2 Strategic Direction 8 Section 3 Focus on Fast-Growing Industry: Media and E-Commerce 12 Section 4 Business Profile by Segment and Potential Upsides Section 4.1 Advertising 15 Section 4.2 Payment 25 Section 4.3 Logistics 27 Section 5 O2O Showcases 30 Section 6 2017/18 Financial Performance 35 Section 7 2Q 2018/19 Financial in More Detail & Business Update 37 Appendices

Prepared by Investor Relations Department VGI Global Media Plc

ADVERTISING PAYMENT LOGISTICS

Transit & Office Outdoor Airport Activation Offline & Online Payment Market Place Micro Loan Smart Delivery

Strategic Direction

Diversified world class platforms

8 THB 7,000mn media capacity 4mn rewards members 1,000,000+ parcels/ day O2O SOLUTIONS

Conversion Engagement Awareness

18M

USERBASE DATA

Section 2: Strategic Direction

Prepared by Investor Relations Department VGI Global Media Plc

Strategic Direction

Combine advertising, payment and logistics platforms to create data driven solution

9

FUNDAMENTAL PLATFORM SOLUTIONS

VALUES GROWTH INNOVATION ADVERTISING PAYMENT LOGISTICS DATA OFFLINE TO ONLINE ADVERTISING Apart from the organic growth, we will increase our digital inventories by 40% in

• rder to link the offline content to online

by applying

• ur

programmatic technology LOGISTICS Triple the delivery and activation capacity, it will allow us to have 2mn daily interaction with consumers. PAYMENT We aim to expand our rewards members from 4mn to 10mn members and expand

• ur payment touch points nationwide

within the next 3 years.

CONNECTOR

Section 2: Strategic Direction

Prepared by Investor Relations Department VGI Global Media Plc

Strategic Direction

3-Year revenue target at THB 10bn and net profit at THB 2bn

10 Revenue of THB 10bn in 2020/21 +35% 3-year CAGR Net profit of THB 2bn in 2020/21 +30% 3-year CAGR

AD

Advertising +40% digital screens Payment 10mn rewards members User base data 40mn data points with depth and more dimension for targeting and media planning Logistics 2mn daily interaction

Section 2: Strategic Direction

OPERATION TARGET FINANCIAL TARGET

Prepared by Investor Relations Department VGI Global Media Plc

Agenda

11 Section 1 Company at a Glance 4 Section 2 Strategic Direction 8 Section 3 Focus on Fast-Growing Industry: Media and E-Commerce 12 Section 4 Business Profile by Segment and Potential Upsides Section 4.1 Advertising 15 Section 4.2 Payment 25 Section 4.3 Logistics 27 Section 5 O2O Showcases 30 Section 6 2017/18 Financial Performance 35 Section 7 2Q 2018/19 Financial in More Detail & Business Update 37 Appendices

Prepared by Investor Relations Department VGI Global Media Plc

Section 3: Focus on Fast-Growing Industry: Media and E-Commerce

Focus on Fast-Growing Industry

Out-of-Home industry

12

Rising in infrastructure, urbanisation and increasing number of people who spend time outdoor were driven the growth of Thailand OOH Media.

VGI GROUP’S FOCUS

• Our focus has proven to be the fastest growth media sector OOH
• Thailand’s No.1 Transit media in Bangkok
• The sole player in Office media with 177 Grade A&B buildings

under management

• The leading Outdoor media with nationwide network

coverage and overseas expansion

• Thailand’s No.2 Aviation media at 14 airports in Thailand and

Yangon airport in Myanmar

• The first mover in Thailand who established the integrated
• nline and offline media platform
• We are also the first mover in making advertising become

more data-driven, hence, creating O2O Solutions.

• 19.7%
• 13.1%
• 10.8%
• 2.7%
• 0.7%

9.9% 18.3% 34.8% In-store Traditional media** Analogue TV Total industry Cinema OOH Online Digital*

ADVERTISING MARKET 5 YRS CAGR (2012/13 – 2017/18)

The accelerated growth of online, digital and OOH media fueled by migration to mobile devices and increased consumer media exposure as people spend more time out of home.

* Digital adspend based on December year-end reported by DAAT ** traditional media includes Radio, Newspapers, Magazines

VGI’s Focus

* Online adspend includes banner ad on 50 websites and 10 mobile sites ** based on December year-end Source: The Nielsen (Thailand) Co., Ltd. and Digital Advertising Association Thailand (DAAT)

5 YRS HISTORICAL ADVERTISING SPENDING (THB bn)

2013/14 2014/15 2015/16 2016/17 2017/18

TV Traditional media OOH media Cinema Online* Digital adspend (DAAT)** Coup d’etat Shutdown BKK

113bn 62.3% 23.3% 9.0% 4.7% 0.8% 107bn 65.7% 16.0% 11.3% 5.5% 1.6% 120bn 1.0% 68.5% 18.0% 8.0% 4.4% 121bn 0.8% 68.0% 19.4% 3.7% 8.1%

Mourning effect

4bn 6bn 8bn 9bn 100bn 64.8% 13.4% 13.3% 7.0% 1.5% 12bn 56.0% 44.0% 43.6% 28.4% 24.7% 22.9% 15.4%

Focus Media VGI Lamar Outfront media APG Stroeer JCDecaux

ONE OF THE MOST HIGHEST EBITDA MARGIN MEDIA COMPANY

The top 3 profitable OOH media company globally.

Source: Bloomberg Remark:

• EBITDA margin as of 2017.
• VGI EBITDA margin as of 2017/18.

Prepared by Investor Relations Department VGI Global Media Plc

THAILAND E-COMMERCE MARKET SIZE (THB tn) E-COMMERCE PENETRATION

Thailand’s e-Commerce market is still immature, hence fast growth in e- Commerce and demand for logistics are expected.

THAILAND HAS A LOW E-PAYMENT USAGE PER CAPITA 150 E-PAYMENT TRANSACTIONS PER CAPITA IN 2020

E-commerce’s penetration to retail sales in Thailand is still relatively immature, exponential room to grow 17 21 26 31 35 39 49 150

2010 2011 2012 2013 2014 2015 2016 2020E

9x increased

United Kingdom 314 Singapore 716 Malaysia 82 South Korea 413

Thailand

49

Source: Payment Systems Report (2016), Bank of Thailand Source: Electronic Transaction Development Agency Source: Payment Systems Report (2016), Bank of Thailand Source: Statista

Sweden 420

Focus on Fast-Growing Industry

E-Commerce industry

13

Section 3: Focus on Fast-Growing Industry: Media and E-Commerce

0.31 2.81

2007 2017

+900%

3.1% 7.4% 9.0% 16.0% 19.1% 23.1%

Thailand Japan US South Korea UK China

Prepared by Investor Relations Department VGI Global Media Plc

Agenda

14 Section 1 Company at a Glance 4 Section 2 Strategic Direction 8 Section 3 Focus on Fast-Growing Industry: Media and E-Commerce 12 Section 4 Business Profile by Segment and Potential Upsides Section 4.1 Advertising 15 Section 4.2 Payment 25 Section 4.3 Logistics 27 Section 5 O2O Showcases 30 Section 6 2017/18 Financial Performance 35 Section 7 2Q 2018/19 Financial in More Detail & Business Update 37 Appendices

Prepared by Investor Relations Department VGI Global Media Plc

Advertising: Transit Media

No.1 in Transit Media

15

• No. of location

30 stations/208 carriages Static Media > 4,000 displays Digital Media >2,000 screens Viewer reach >740,000 people/day Merchandising space > 8,000sqm.

• I. TRAIN
• II. STATION
• III. MERCHANDISING & OTHER

TRANSIT MEDIA PROFILE OUR PRODUCTS

• Exclusive rights to manage advertising space on BTS Sky Train

network: RIGHTS & NETWORK

• 23 core network:

18 May 2012 – 4 Dec 2029

• 7 extensions:

6 May 2015 – 4 Dec 2029 EFFECTIVE PERIOD

• 23 core network: 5% - 20% of BTS revenues/year (an increase of

5% every 5 years)

• 7 extension's: fixed rate

CONCESSION FEE (PAYABLE TO BTSC & BMA)

• First right of refusal for Core Network and new extension lines

that BTS secures post 2029

8 YRS RS CAGR: R: +12. 2.4% 4%

KEY FINANCIAL HIGHLIGHTS

Despite frequent interruptions, ridership growth drives continuous revenue growth of BTS-related media.

889 934 1,143 1,422 1,679 1,805 1,793 1,865 2,262

2009/10 2010/11 2011/12 2012/13 2013/14 2014/15 2015/16 2016/17 2017/18

coup d’etat Shutd tdown BKK floods ds Re Red shirt rt Yellow shirt rt

Section 4.1: Advertising 2017/18 Revenue Contribution

Transit media revenue (THB mn)

57.5%

Morning ning Period Ro Royal cremation

Prepared by Investor Relations Department VGI Global Media Plc ROUTE DISTANCE

• NO. OF

STATION OPERATING

DARK GREEN MO CHIT 17.0 17 DEC-99 (CORE) – ON NUT LIGHT GREEN NATIONAL STADIUM 6.5 6 DEC-99 (CORE) – SAPHAN TAKSIN LIGHT GREEN SAPHAN TAKSIN 2.2 2 MAY-09 (EXTENSION) – WONGWIAN YAI DARK GREEN ON NUT – BEARING 5.3 5 AUG-11 (EXTENSION) LIGHT GREEN WONGWIAN YAI 5.3 3 DEC-13 (EXTENSION) – BANG WA DARK GREEN (EXTENSION) BEARING – SAMRONG 1.8 1 APR-17

EXISTING LINES AS OF 2017/18 EXISTING LINES BY OPERATOR

BANG YAI – TAO POON 23.0km

• NATION. STADIUM – BANG WA

14.0km MO CHIT – SAM RONG 24.1km PHAYATHAI – SVB 28.5km TAO POON– HUA LAMPHONG 21.2km

ROUTE DISTANCE

• NO. OF

STATION OPERATING

BLUE BANG SUE – TAO POON 21.2 19

JUL-04

PURPLE BANG YAI – TAO POON 23.0 16

AUG-16 ROUTE DISTANCE

• NO. OF

STATION OPERATING

AIRPORT LINK (RED LINE) PHAYATHAI – SUVARNABHUMI 28.5 8 AUG-10

Advertising: Transit Media

At 110.8km Bangkok’s Mass Transit Network is immature

16 35 35 8 38.1 44.2 28.5

TOTAL DISTANCE: 110.8KM

743,223 378,167 70,000

BTS BEM SRT

TOTAL AVG. WEEKDAY RIDERSHIP: 1,191,390 TOTAL STATION: 78

Source: BTSC, BEM and State Railway of Thailand (SRT)

Section 4.1: Advertising

Prepared by Investor Relations Department VGI Global Media Plc

137.3 125.4 113 67 ADDITIONAL LINES IN 2021/22 FUTURE LINES IN 2021/22

BTS’S FOCUS ROUTE DISTANCE NO. OF STATION OPERATING

GREEN (SOUTHERN) BEARING

• SAMUT PRAKARN

12.6 9 2018 GREEN (NORTHERN) MO CHIT – SAPHAN MAI – KHU KHOT 18.2 16 2020 PINK KHAE RAI – PAK GRED – MIN BURI 34.5 30 2021 YELLOW LAD PRAO – SAM RONG 30.4 23 2021 GREEN (WESTERN) BANG WA

• TALING CHAN

7.0 6 2022 LRT BANG NA - SUVARNABHUMI 18.3 14 2022 GREY (I) WATCHARAPHON – THONG LO 16.3 15 2022

OTHER ROUTE DISTANCE NO. OF STATION OPERATING

BLUE HUA LAMPHONG

• BANG KHAE

14.0 11 2020 BLUE BANG SUE - THA PRA 13.0 9 2020 BLUE BANG KHAE – BHUDHAMONTHON 4 8.0 4 2021 DARK RED BANG SUE - RANGSIT 26.3 8 2021 DARK RED BANG SUE – HUA LUM HONG 6.5 5 2020 LIGHT RED BANG SUE – PHAYATHAI – MAKKASAN – HUAMAK 19.0 9 2020 LIGHT RED BANG SUE – TALING CHAN 15.0 4 2021 PURPLE (SOUTHERN) TAO POON – RAT BURANA 23.6 17 2022

Advertising: Transit Media

BTS is well positioned to secure additional 133.7km.

17

TOTAL DISTANCE: 262.7KM TOTAL STATION: 180

BEARING – SAMUT PRAKARN 12.6km MO CHIT – SAPHAN MAI – KHU KHOT 18.2km WATCHARAPHON – THONG LO 16.3km LAD PRAO – SAM RONG 30.4km BANG NA – SUVARNABHUMI 18.3Km KHAE RAI – MIN BURI 34.5km

BANG WA

• BOROMMARATCHACHONNANI

7.0km

Source: MRTA & Systra MVA (Thailand) Note: Pink, Yellow, Grey and LRT’s ridership is based on Systra MVA Secured by BTSC Under negotiation

BTS Other

Section 4.1: Advertising

Prepared by Investor Relations Department VGI Global Media Plc

Advertising: Transit Media

Solid growth opportunities from BTS Rail Mass Transit Expansion

18 TOTAL OF 836 TRAINS CAPACITY TOTAL OF 147 STATIONS CAPACITY

2017/18 2022/23 E CORE + EXTENSION 208 236 GREEN (SOUTHERN) NONE 60 GREEN (NORTHERN) NONE 84 PINK NONE 168 YELLOW NONE 120 GREEN (WESTERN) NONE 32 LRT NONE 64 GREY (PHASE I) NONE 72 TOTAL 208 836 2017/18 2022/23 E CORE + EXTENSION 30 34 GREEN (SOUTHERN) NONE 9 GREEN (NORTHERN) NONE 16 PINK NONE 30 YELLOW NONE 23 GREEN (WESTERN) NONE 6 LRT NONE 14 GREY (PHASE I) NONE 15 TOTAL 30 147

4.0X EXPECTED INCREASE IN BTS TRAIN CAPACITY 4.9X EXPECTED INCREASE IN BTS STATION CAPACITY

208 236 296 380 668 836

100 200 300 400 500 600 700 800 900

17/18 (A) 18/19 (E) 19/20 (E) 20/21 (E) 21/22 (E) 22/23 (E)

Secured 668 carriages Under Negotiation 168 carriages

+4.0x

30 30 43 59 112 147

20 40 60 80 100 120 140 160

17/18 (A) 18/19 (E) 19/20 (E) 20/21 (E) 21/22 (E) 22/23 (E)

Secured 108 stations Under Negotiation 39 stations

+4.9x

Current Green South Green North Pink Yellow LRT Grey (Phase I) Green West

Section 4.1: Advertising

Prepared by Investor Relations Department VGI Global Media Plc

636 732 725 622 694 735 932

2011 2012 2013 2014 2015 2016 2017

Advertising: Outdoor Media

No.2 in Outdoor Media

19 MACO’S PRODUCTS

• I. BILLBOARD
• II. STREET FURNITURE
• III. SYSTEM INTEGRATION AND DIGITAL SERVICES

INTERNATIONAL NETWORK INVESTMENT & ACCOUNTING METHOD

OUTDOOR MEDIA PROFILE KEY FINANCIAL HIGHLIGHT

Investment: 31.7% in Master Ad Plc (MACO; a listed in SET) Accounting Method: Consolidation

MACO’s revenue (THB mn)

DOMESTIC NETWORK 2017/18 Revenue Contribution 24.3%

BKK & Vicinities 250 panels Nationwide 975 panels CBD LED 35 screens LCD screen 250 screens Street furniture 494 panels under 23 BTS Sky Train stations, 19 major flyovers bridges

• Billboard and street furniture covering all provinces in Thailand
• Exclusive rights on media and advertising management

MRT SBK line 10 years in Malaysia KLIA terminal 1&2 10 years in Malaysia MRT North-South line 20 years in Indonesia

• System integrator and digital services provider in Hongkong
• System integrator and digital services provider in Thailand

Section 4.1: Advertising

Prepared by Investor Relations Department VGI Global Media Plc

Advertising: Outdoor Media

Growth drivers from existing media and acquisition opportunity

20 Existing Network Target 2018 LED SCREEN IN UPCOUNTRY (HATYAI PROVINCE) MEDIA IN MALAYSIA KEY GROWTH AND DEVELOPMENT

2.INTERNATIONAL MARKET EXPANSION Invest in additional potential companies in Malaysia within 2018 by establishing a strategic alliance with a strong local partners. Outdoor : 10 panels Transit : 2 MRT line Airport : 3 terminals Expand media coverage in Malaysia and Indonesia 3.STRATEGIC PARTNERSHIP Strengthen alliance and partnership network to build our competitive advantage 1-2 additional M&A

After combined with Multi Sign & Comass, MACO now have 30% market share in

• utdoor media

1.DIGITISATION

To convert static media to digital media in potential areas in order to reach customers’ need and gain more interaction with audiences. 100% static To have 50 digital screens in our portfolio 21 screens In 2017 50 screens In 2018 4.ADAPTIVE MEDIA

CAMPAIGN Create value added media through Rabbit’s

data driven Multi-platform Big Data MACO VGI Multi Sign Co-Mass RABBIT Transad Roctec Section 4.1: Advertising

Prepared by Investor Relations Department VGI Global Media Plc

• No. of location

177 office buildings Digital Media 1,374 screens Viewer reach >500,000 people/day

Advertising: Office Building & Residential Media

No.1 in Office Building and Residential Media

21 OFFICE BUILDING AND RESIDENTIAL MEDIA PROFILE OUR PRODUCTS

• Exclusive rights to manage advertising space in office buildings

throughout Bangkok CBD:- RIGHTS & NETWORK

• Office buildings:

3-5 years

• Residential buildings:

3 years LENGTH OF CONTRACT

• Office buildings:

Revenue sharing & fixed rates

• Residential buildings:

Revenue sharing CONCESSION FEE

KEY FINANCIAL HIGHLIGHTS

• Exclusive sale agent for ARTISTA media:-
• No. of location

314 residential buildings Digital Media 754 screens Viewer reach >220,000 people/day 19 76 79 145 149 163 201 227 238

2009/10 2010/11 2011/12 2012/13 2013/14 2014/15 2015/16 2016/17 2017/18

• I. MEDIA INSIDE ELEVATORS AND OFFICE BUILDING AREAS
• II. MEDIA INSIDE ELEVATORS AND RESIDENTIAL BUILDING AREAS

RE REVENUE CAGR R (8 YRS RS) : 3 37. 7.2% 2%

VGI bundled office building networks and sold in package. The sale strategy has proven to be successful as evidence in historical revenue record. 2017/18 Revenue Contribution 8.6% Section 4.1: Advertising

Prepared by Investor Relations Department VGI Global Media Plc

• 50

100 150 200 250

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018F 2019F 2020F CBD ('000 sq.m.) Non CBD ('000 sq.m.)

• Working people and Family
• Middle Income
• Grade B residential buildings in Bangkok
• White collar workers
• Middle – High Income
• Grade A& B office buildings in Bangkok
• Grade C office and residential buildings
• Middle Income
• Upcountry market

Advertising: Office Building & Residential Media

Upside from our existing office assets base and new office & residential supply

22 NEW OFFICE SUPPLY IN BANGKOK

Expected of 583,700 sq.m. new office supply during 2018 – 2020

TO DOMINATE OFFICE BUILDING MARKET IN BANGKOK

Our network is currently concentrated in CBD

WELL-POSITIONED TO SECURE PARTNER’S REMAINING CONDO.

Expand the media coverage through all partner’s condominiums comprising of LPN, AP and Grand U as well as new partners

CAPTURING ALL CONSUMER PROFILE INCOME AND GEOGRAPHIC

Expand our viewer based by tapping into Grade C and upcountry market

Office Building Residential TO BE CAPTURED

VGI’s office building network Bangkok CBD Potential

buildings

50% 50% Total 439 Buildings

ARTISTA’s network

Source: Artista Media

583,700 sq.m.

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

Section 4.1: Advertising

Prepared by Investor Relations Department VGI Global Media Plc 39 42 45 49 50 43 49 57 61 75 98 122 137 148

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Strong growth is expected mainly driven by an increasing in air traffic which will directly facilitating Aero Media’s performance.

HISTORICAL NUMBER OF PASSGENGERS

Source: Airport of Thailand PLC and Department of Airport, Thailand

AERO MEDIA’S PRODUCTS AVIATION MEDIA PROFILE

• No. of location

15 airports Digital Media 361 LEDs screens Static Media 57 jet bridges 2,500 trolleys 77 billboards Media on plane 31 planes of Thai Lion Air 15 planes of Air Asia 20 planes of Nok Air 4 planes of Nok Scoot Air Website management All websites of AOT airports

RIGHTS & NETWORK

• Rights to manage advertising space across 14 airports in Thailand,

and 1 airport in Myanmar INVESTMENT & ACCOUNTING METHOD Investment: 30.0% in Aero Media Group Co., Ltd Accounting Method: Equity sharing

• 3 – 5 years on average

LENGTH OF CONTRACT

13Y 3YRS S CAGR: R: 10.7%

• I. LEDS SCREEN
• III. JET BRIDGES
• IV. TROLLEYS
• V. WEBSITE MANAGEMENT

Advertising: Aviation Media

• No. 2 in Aviation Media

23

• II. MEDIA ON PLANE

Section 4.1: Advertising

Prepared by Investor Relations Department VGI Global Media Plc

Advertising: Activation Media

• No. 1 in Thailand

24 ACTIVATION MEDIA PROFILE

RIGHT AND NETWORK

• Right to manage the entire process of demonstration service in a

thousands of locations nationwide. INVESTMENT & ACCOUNTING METHOD Investment: 40.0% in Demo Power (Thailand) Accounting Method: Equity sharing

DEMO POWER SERVICES, PARTNERS AND BRANDS

Non-exclusivity location: > 650 stores Exclusivity locations: > 360 stores

• I. SERVICES
• II. BUSINESS PARTNERS
• III. BRANDS
• No. of location

>1,000 stores Audience interaction >40mn people/ year Consumer journey Retail (Supermarkets & Hypermarkets) Transit (BTS & MRT) Work (Offices, Factories and Exhibitions) Leisure (Malls & Cinemas)

Demo Power is the largest trial and demonstration service company in Thailand, covering a nationwide network with more than 10 years experience in demonstration business.

UPSIDE: ADDITIONAL CONSUMER INTERACTION (PEOPLE/DAY)

Potential expansion on VGI’s existing network both commercial space on BTS stations and office buildings

>110,000 >100,000 >740,000 >800,000

Demo Power Demo Power + Upside from VGI

15.0X increased BTS Office Building Demo Power

>1,600,000 Section 4.1: Advertising

Prepared by Investor Relations Department VGI Global Media Plc

Payment

Offline and Online Payment

25 OFFLINE PAYMENT: RABBIT CARD

INVESTMENT & ACCOUNTING METHOD Investment: 90.0% in Bangkok Smart Card System (BSS) Accounting Method: Consolidation

PAYMENT PRODUCTS

• I. RABBIT CARD
• II. RABBIT LINE PAY

A contactless smart card to make electronic payments across Bangkok’s mass transit network and participating brick-and-mortar merchants. A mobile e-wallet solution embedded in the leading chat messenger application.

Current 2020 Rabbit Cards 9.8mn >15.0mn Retailer Points > 6,400 >10,000 Current 2020 Line Users 45.0mn >55.0mn Rabbit Line Pay Users 4.5mn >10.0mn Online Merchants > 1,000 >1,500

CURRENT VS FUTURE’S RIGHT AND NETWORK

ONLINE PAYMENT: RABBIT LINE PAY

INVESTMENT & ACCOUNTING METHOD Investment: 24.0% in Rabbit Line Pay1 Accounting Method: Equity sharing CURRENT VS FUTURE’S RIGHT AND NETWORK

1 The JV between Rabbit Pay System 50% and other 50% held by 1) 24.99% held by LINE Biz+ Pte. Ltd. 2) 25.01% held by LINE Company (Thailand)

Section 4.2: Payment

Prepared by Investor Relations Department VGI Global Media Plc

Payment

Digital Services Business

26 ONLINE INSURANCE BROKER SERVICE PRODUCTS

• I. ONLINE INSURANCE BROKER

Insurance aggregator services on Rabbit Finance website and also a licensed broker for insurance products. INVESTMENT & ACCOUNTING METHOD Investment: 27% in Rabbit Internet (RI) Accounting Method: Consolidation1

1 BSSH can consolidate RI financial performance as they invested 25% in equity and 30% in convertible loan.

CURRENT VS FUTURE’S SERVICE AND NETWORK

• Rabbit offers personal insurance comprised of Car, Life, Health

and Travel insurance

MICRO LOAN THROUGH THE JOINT VENTURE WITH AEON

INVESTMENT & ACCOUNTING METHOD Investment: 46% in ATS Accounting Method: Equity sharing CURRENT VS FUTURE’S SERVICE AND NETWORK

• Rabbit offers micro loans through its partnership with AEON
• II. AEON RABBIT MEMBER CARD

Insurance companies in-services Current 2020 Outstanding Loan >THB 1,529mn >THB 4,000mn

Section 4.2: Payment

Prepared by Investor Relations Department VGI Global Media Plc

Logistics

Parcel Delivery Services

DELIVERY SERVICES PORTFOLIO SERVICES PRODUCTS

INVESTMENT & ACCOUNTING METHOD Investment: 23% in Kerry Express Accounting Method: Equity Sharing SERVICES CHANNEL Kerry is the No. 1 parcel delivery services in Thailand, delivering more than 1,000,000 parcels per day and has more than 4,000 retail service points nationwide. B2B delivering parcels from company to various places such as financial institutions, law firm, retail shops and etc. B2C delivering parcels from e-market place to the individual shoppers C2C delivering letters and parcels from online retailers to individual consumers

• Deliver more than 1,000,000 parcels per day
• 900 distribution centers
• 700 parcel shops in Bangkok, Central and East
• 4,000 retail service points at alliance shops such as

NETWORK Section 4.3: Logistics

27

Prepared by Investor Relations Department VGI Global Media Plc

Logistics

Kerry Express’s six-year milestones

28

2012 8,000 packages shipped per day 30DCs in Thailand Employed 200 people 2013 15,000 packages shipped per day 56DCs in Thailand Employed 300 people First parcel shop in Asok 2014 29,000 packages shipped per day 80DCs in Thailand Employed 400 people 10 parcel shops in Bangkok 2016 150,000 packages shipped per day 230DCs in Thailand Employed 2,500 people 90 parcel shops in Bangkok, Central and East 2018 1,000,000 packages shipped per day 900DCs in Thailand Employed 16,000 people 700 parcel shops in Bangkok, Central and East 4,000 retail service points nationwide Section 4.3: Logistics 2015 75,000 packages shipped per day 200DCs in Thailand Employed 1,400 people 35 parcel shops in Bangkok

Prepared by Investor Relations Department VGI Global Media Plc

Agenda

29 Section 1 Company at a Glance 4 Section 2 Strategic Direction 8 Section 3 Focus on Fast-Growing Industry: Media and E-Commerce 12 Section 4 Business Profile by Segment and Potential Upsides Section 4.1 Advertising 15 Section 4.2 Payment 25 Section 4.3 Logistics 27 Section 5 O2O Showcases 30 Section 6 2017/18 Financial Performance 34 Section 7 2Q 2018/19 Financial in More Detail & Business Update 36 Appendices

Prepared by Investor Relations Department VGI Global Media Plc

O2O Showcases

Right audience, at the right time, at every touchpoint of their journey

30

Walking pass by McDonald’s Advertising Out-of-Home and Online media syncronisation McDonald's Promotion on Billboard Besides BTS, we have other OOH media to reach wider audience McDonald’s Promotion on Facebook Our big data enables the target audiences to see the same advertisement both OOH and Online Being notified McDonald's Promotion via LINE Directly push to LINE Official Account users nearby the brand’s beacon. Grabbing Meal at the shop on BTS station, Paying by Rabbit LINE Pay. Payment made easy by Rabbit LINE Pay. Going to work via BTS Get behavioral data from Rabbit Card. Section 5: O2O Showcases

Prepared by Investor Relations Department VGI Global Media Plc

O2O Showcases

Over 1,000 registrations, targeted with our insurance and credit card data

31 Objective:

• To promote new Citi bank’s credit card

Communication channels:

• Offline: OOH advertising, activation booth and event
• Online: Facebook, programmatic, email and SEM bridged by

Rabbit Data Target audience:

• Occupation: Office workers
• Gender: Male and Female
• Age: 25 – 55 years old
• Income: Medium to high
• Lifestyle: Travel oversea and shopping

Results: STATION SPONSORSHIP CAMPAIGN 5,000 - 10,000 leads per month 1,100 Citi credit card registered in 2 months Highest conversion rate among all lead gen providers

Section 5: O2O Showcases

Prepared by Investor Relations Department VGI Global Media Plc

O2O Showcases

Combining physical and digital channels drives higher conversion rate

32 Objective:

• To encourage activity participation by targeting BTS passengers

Communication channels:

• Offline: OOH advertising and activation booth
• Online: Facebook and programmatic bridged by Rabbit Data

Target audience:

• Gender: Male and Female
• Age: 18 – 44 years old

Results after 21 days campaign: OFFLINE-TO-ONLINE (O2O) CAMPAIGN Delivered 1,500 leads Achieved 12,000 clicks O2O conversion rate 12.9%

Section 5: O2O Showcases

Prepared by Investor Relations Department VGI Global Media Plc

O2O Showcases

Delivering marketing solutions synergy through logistics platform

33

Retarget high prospect customers online Locate the right target audience and drive product awareness with 100% viewability Encourage trial at the perfect at home environment Obtain product user feedback for actionable marketing insights (3-5% of conversion rate vs. 0.5% of market rate)

SMART SAMPLING THROUGH KERRY EXPRESS

Delivering more than 110,000 smart samplings since its soft launch in end of August 2018.

Section 5: O2O Showcases

Prepared by Investor Relations Department VGI Global Media Plc

Agenda

34 Section 1 Company at a Glance 4 Section 2 Strategic Direction 8 Section 3 Focus on Fast-Growing Industry: Media and E-Commerce 12 Section 4 Business Profile by Segment and Potential Upsides Section 4.1 Advertising 15 Section 4.2 Payment 25 Section 4.3 Logistics 27 Section 5 O2O Showcases 30 Section 6 2017/18 Financial Performance 35 Section 7 2Q 2018/19 Financial in More Detail & Business Update 37 Appendices

Prepared by Investor Relations Department VGI Global Media Plc

VGI Financial Performance

35

2014/15 2015/16 (restated)

1

2016/17 2017/18 YoY (%) INCOME STATEMENT (THB mn) Operating Revenue 2,963 2,341 3,052 3,936 29.0% Transit Media 1,805 1,793 1,865 2,262 21.3% Outdoor Media

• 550

958 74.3% Office Building & Other Media 189 240 266 338 27.3% Modern Trade Media2 969 50

• Digital Services
• 258

371 378 1.9% Cost of sales 1,325 881 1,269 1,535 21.0% Gross profit 1,638 1,461 1,783 2,401 34.7% EBITDA 1,225 1,391 1,356 1,691 24.6% Net profit 838 941 826 846 2.4% BALANCE SHEET (THB mn) Total assets 3,286 5,563 7,985 9,617 Total liabilities 1,457 1,728 4,880 3,699 Interest bearing debt 762 446 2,957 1,763 Total shareholders' equity 1,829 3,835 3,105 5,917 CASH FLOW (THB mn) Cash from operating activities 1,070 732 957 1,272 Capital expenditures (521) (207) (311) (549) PER SHARE DATA (THB/ share) Earnings per share 0.1 0.1 0.1 0.1 Dividend per share 0.2 0.1 0.1 0.1 Book value per share 0.3 0.6 0.5 KEY RATIOS Gross profit margin (%) 55.3% 62.4% 58.4% 61.0% EBITDA margin (%) 41.4% 59.4% 44.5% 43.0% Net profit margin (%) 28.3% 40.2% 27.1% 21.5% Debt to equity (times) 0.3x 0.1x 1.0x 0.3x ROA (%) 27.8% 19.1% 12.2% 9.6% ROE (%) 44.3% 31.6% 23.8% 26.9%

Section 6: 2017/18 Financial Performance

1The Company restated 2015/16 financial performance after the consolidation of Rabbit Group under the common control basis. 2The 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.

TRANSIT THB 2,262mn 57.5% 9.6% DIGITAL SERVICES THB 378mn 8.6% OFFICE & OTHER THB 338mn 24.3% OUTDOOR THB 958mn THB 3,936mn

• Revenue expansion by 29.0% YoY driven by all business

segments and synergies from Offline-to-Online (O2O) solutions.

• Better Gross profit margin from operational efficiency and cost

management especially in Outdoor media and Digital services

• segment. (Cost-to-sales ratio decreased to 39.0% from 41.6%).
• EBITDA rose as a result of the substantial improved revenue.
• Adjusted net profit increased by 27.7% YoY mainly due to

higher revenue despite 1) an increase in concession fee of Transit media from 5% to 10% and 2) higher interest expenses.

Prepared by Investor Relations Department VGI Global Media Plc

Agenda

36 Section 1 Company at a Glance 4 Section 2 Strategic Direction 8 Section 3 Focus on Fast-Growing Industry: Media and E-Commerce 12 Section 4 Business Profile by Segment and Potential Upsides Section 4.1 Advertising 15 Section 4.2 Payment 25 Section 4.3 Logistics 27 Section 5 O2O Showcases 30 Section 6 2017/18 Financial Performance 35 Section 7 2Q 2018/19 Financial in More Detail & Business Update 37 Appendices

Prepared by Investor Relations Department VGI Global Media Plc

2Q 2018/19 Highlights

37

Revenue of THB 1,208mn

+23.5% YoY

Offline Payment

9.8mn cards

Online Payment

4.5mn Rabbit LinePay users

Micro Loan Services THB 1,529mn Logistics

>70,000 smart samplings

Profitability

55.5% Gross profit margin 41.5% EBITDA margin 21.5% Net profit margin

Net Profit of THB 260mn

+28.8% YoY

FINANCIAL PERFORMANCE KEY OPERATION METRICS

Office

177 office buildings 1,374 digital screens

Outdoor

2,400 billboards 35 digital billboards

AD Section 7: 2Q 2018/19 Financial in More Detail & Business Update

Prepared by Investor Relations Department VGI Global Media Plc

PROFIT AND LOSS STATEMENT

2Q 2018/19 Overview

38

• Revenue increase by 23.5% YoY mainly driven by 1)encouraging growth in

the Out-of-Home media sector and 2) the consolidation of Trans.Ad Group

• Gross profit increased by 13.5% YoY, while its margin decreased to 55.5%

due to the higher cost structures from Trans.Ad Group

• EBITDA increased by 12.9% YoY as a result of the continuously positive

performance as well as the Group’s strategic expansion.

• Net profit increased by 28.8% YoY due to robust performance and a

recognition of a share of profit from Kerry Express

1As shown in financial statement, excluding minority interest.

KEY FACTORS

(THB mn) 2Q 2017/18 1Q 2018/19 2Q 2018/19 QoQ (%) YoY (%) Operating revenue 978 1,077 1,208 12.2% 23.5% Cost of sales 387 392 537 37.1% 38.7% Gross profit 591 685 670

• 2.1%

13.5% EBITDA 444 507 501

• 1.2%

12.9% EBIT 333 384 380

• 1.1%

14.1% Interest expenses 25 15 18 18.6%

• 27.8%

Taxes 83 82 76

• 7.3%
• 8.6%

Net Profit1 202 261 260

• 0.4%

28.8% Gross profit margin 60.4% 63.6% 55.5% EBITDA margin 45.4% 47.1% 41.5% Net profit margin 20.6% 24.3% 21.5%

Note: Trans.Ad Group comprises of 1) Trans.Ad Solutions Company Limited and 2) Roctec Technology Limited.

2Q 2018/19 REVENUE CONTRIBUTION TRANSIT THB 535mn 44.3% 24.7% DIGITAL SERVICES THB 299mn 9.0% OFFICE & OTHER THB 109mn 22.0% OUTDOOR THB 266mn THB 1,208mn

Section 7: 2Q 2018/19 Financial in More Detail & Business Update

Prepared by Investor Relations Department VGI Global Media Plc

232 265 291 284 266

2Q 3Q 4Q 1Q 2Q

TRANSIT MEDIA REVENUE (THB mn) OFFICE & OTHER MEDIA REVENUE (THB mn)

Revenue by Business Units

39 OUTDOOR MEDIA REVENUE (THB mn) DIGITAL SERVICES REVENUE (THB mn)

+14.4% YoY

87 84 110 80 299

2Q 3Q 4Q 1Q 2Q

+243.6% YoY

576 548 618 620 535

2Q 3Q 4Q 1Q 2Q

• 7.2% YoY

2017/18 2018/19

83 81 108 93 109

2Q 3Q 4Q 1Q 2Q

+31.7% YoY

Higher utilisation rate as well as price increases. Driven by the ongoing revenue recognition of 35 digital screens. Driven by the consolidation of Trans.Ad Group by MACO and the increase in project management fees of Rabbit Group. A decline mainly due to expiry O2O contracts (normal budget-end period). Expected normalised booking levels in remaining quarters. 2017/18 2018/19 2017/18 2018/19 2017/18 2018/19 Section 7: 2Q 2018/19 Financial in More Detail & Business Update

Prepared by Investor Relations Department VGI Global Media Plc

Balance Sheet & Cash Flow

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

5,927 12,541 3,705 7,582 31 MAR 18 30 SEP 18 37.7% 62.3% Non-current assets Current assets 38.5% 61.5% 20,123 9,632

Actual Target

1H 18/19 FY 18/19 Transit Media 72 300 Office & Others Media 26 100 Total VGI 98 400 Outdoor Media 40 450 Digital Services 23 150 Total VGI, MACO & Rabbit 161 1,000

CAPEX (THB mn)

IB Debt THB 1,763mn THB 1,629mn D/E ratio 0.3x 0.1x

Equity 5,926 16,088 1,658 1,647 2,048 2,388 31 MAR 18 30 SEP 18 Non-current liabilities Current liabilities 61.5% 17.2% 21.3% 79.9% 8.2% 11.9% 20,123 9,632

*After tax and net tax refund (THB -153mn) and interest expense (THB -33mn) **Included translation adjustment of (THB 2.3mn)

757

Beginning cash (Restated) (31/3/2018) CFO CFI CFF Ending cash (30/9/2018)

547* 8,657** (7,329)

CFI CFF

2,632

Cash paid for investment in Kerry Express

• f THB 5,016mn

Cash received from proceeds from VGI-W1 of THB 8,615mn

Section 7: 2Q 2018/19 Financial in More Detail & Business Update

Prepared by Investor Relations Department VGI Global Media Plc

Advertising

Empowering digital strategy through strategic partnership

41 Section 2: Key Business and Strategic TRANS.AD GROUP’S BUSINESS OVERVIEW and STRUCTURE

81.65% 89%

100%

MACO Eye on Ads Trans.Ad Roctec

Multimedia display systems provider Provider of multimedia & communications systems, system integrations and total network infrastructure

Trans.Ad Group

LCD in Stations and Buildings Platform Screen Door Control System & Media Management Passenger Information

LED outdoor

Prepared by Investor Relations Department VGI Global Media Plc

Advertising

Empowering digital strategy through strategic partnership

42

Hong Kong MTR Hong Kong International Airport Singapore SMTR

TRANS.AD GROUP’S KEY CLIENTS Section 2: Key Business and Strategic ENTERPRISE PORTFOLIOS SAMPLE GOVERNMENT AND EDUCATIONAL PORTFOLIOS SAMPLE

Prepared by Investor Relations Department VGI Global Media Plc

Advertising

Digital transformation project

43 Section 2: Key Business and Strategic

• No. of screen: 5 screens

Where: Chong Non Si When: 3Q 2018/19

• No. of screen: 35 screens

Where: Chong Nonsi, Phrom Phong, Sala Dang and Asok When: 2Q 2019/20 PHASE 1 PHASE 2

Prepared by Investor Relations Department VGI Global Media Plc

Payment

Revamping ‘More-tap’ to the ‘Wallet’ page in LINE application

• More steps to reach
• Less features
• One click to ‘Wallet’ feature in LINE app.
• Add BTS function to provide a smarter and easier journey on BTS.

So easy! USER INTERFACE – OLD VERSION USER INTERFACE – NEW VERSION Section 2: Key Business and Strategic 44

Prepared by Investor Relations Department VGI Global Media Plc

2.9 3.1 3.2 3.4 3.8 4.2 4.5 5.3

Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 Mar-19

Payment

Accelerate growth in user base

45 Rabbit Card circulation reached 9.8mn cards. Nearly achieving its full-year target of 10.5mn cards. Rabbit LinePay serves more than 4.5mn users, an increase of 55.2% in less than 6 months. 9.0 9.1 9.2 9.3 9.4 9.6 9.8 10.5

Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 Mar-19

FY Target FY Target Section 2: Key Business and Strategic RABBIT CARD RABBIT LINEPAY

+9.3% +55.2%

partnership with AIS Single e-wallet with BTS and Rabbit Card

Prepared by Investor Relations Department VGI Global Media Plc

Agenda

46 Section 1 Company at a Glance 4 Section 2 Strategic Direction 8 Section 3 Focus on Fast-Growing Industry: Media and E-Commerce 12 Section 4 Business Profile by Segment and Potential Upsides Section 4.1 Advertising 15 Section 4.2 Payment 25 Section 4.3 Logistics 27 Section 5 O2O Showcases 30 Section 6 2017/18 Financial Performance 35 Section 7 2Q 2018/19 Financial in More Detail & Business Update 37 Appendices

Prepared by Investor Relations Department VGI Global Media Plc

Company Structure

47 BTSG VGI

• 41.0% Kanjanapas Family
• 59.0% BTSG’s Minorities

BTSC

97.5% 25.7% 45.0%

Appendix: Company Structure

Public

29.3%

VGI Advertising Media

100%

888 Media

100%

POV

100%

MACO

30.4%

Aero Media

30%

BSS

90%

BSSH

90%

Demo Power

40%

Group Work VGM

100%

The ICON VGI

25%

Supremo Media PBSB

25% 20% 25%

Kerry Express (Thailand)

23%

As of September 2018

Prepared by Investor Relations Department VGI Global Media Plc

52.2% 10.5% 10.5% 1.8% 20% 49% 30% 80% 51% 49% 49% 33.3% 33.3% 33.3% 51% 51%

Rabbit’s Company Structure

48

Rabbit Internet Rabbit Pay System ATS Rabbit Insurance Broker ASK Direct Group

Theory Mavericks Som-O 1984

• Mr. Pongpai

chayont T. Kerry Logistics (Thailand) AEONTS

Rabbit Line Pay

BTSG BTSC VGI BSS

Bangkok Bank

97.5% 25.7% 90% 90% 10% 10%

BSSH

LINE Biz + Pte LINE Company (Thailand) AIS/ mPay

Appendix: Rabbit’s Company Structure

45.0%

As of September 2018

Prepared by Investor Relations Department VGI Global Media Plc

Organisation Structure

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

Appendix: Organisation Structure

Chief Executive Officer

Prepared by Investor Relations Department VGI Global Media Plc

Transit Media Products

50

• I. TRAIN
• II. STATION
• III. MERCHANDISING

Appendix: Transit Media Products

Prepared by Investor Relations Department VGI Global Media Plc

Transit Media Products

Station Sponsorship Campaign

51

Appendix: Transit Media Products

Prepared by Investor Relations Department VGI Global Media Plc

Office & Residential Media Products

52

• I. MEDIA INSIDE ELEVATORS AND OFFICE BUILDING AREA
• II. MEDIA INSIDE ELEVATORS AND RESIDENTIAL BUILDING AREA

Appendix: Office & Residential Media Products

Prepared by Investor Relations Department VGI Global Media Plc

Outdoor Media Products

53

• II. STREET FURNITURE
• III. CREATIVE PRODUCTION
• I. BILLBOARD

Appendix: Outdoor Media Products

Prepared by Investor Relations Department VGI Global Media Plc

Aviation Media Products

54

• I. LED SCREEN
• II. JET BRIDGES
• III. WEBSITE MANAGEMENT

Appendix: Aviation Media Products

Prepared by Investor Relations Department VGI Global Media Plc

Activation Services

55

Appendix: Activation Media Services

Prepared by Investor Relations Department VGI Global Media Plc

VGM Business Overview

56 Outdoor Other Airport Transit Cinema & Retail

Titanium Compass (TCSB) PT Avabanindo Perkasa (AVA) Meru Utama (MUSB) Focus Media (Network) (FMN) Point cast (M) (PCSB) Redberry Outdoors (RBO) Ten Plus Recourses (TPSB) Puncak Berlian (PBSB) Redberry Media (RMSB) Nova Berry (NBSB) AVA: Holds 20-year advertising concession for MRT system in Indonesia (North – South Line) MUSB: Holds 7 years concession for manage advertising space in KL International airport 1 and 2 and Senal Airport PCSB: Operates the media at payment cashiers in major hypermarket stores throughout Malaysia RBO: Operates media on buses in KL and Penang and manage billboards on KAJANG SILK Highway and Duta Ulu-Kelang Expressway PBSB: Investment Holding Company RMSB: Investment Holding Company and MOF License Holder NBSB: No operation at the present MUSB: 354 static panels 3 Aero trains 114 panels of link bridge 158 panels of PBL 285 Digital screen TCSB: 31 MRT stations 58 trains 232 carriages AVA: 13 MRT stations 16 trains 96 carriages

Entity Business/Concession Network

FMN: 2 large LED screens 37 cinema locations 302 cinema halls PCSB: 52 supermarkets 875 screens 80 office buildings RBO: 11 static billboards 918 buses in KL and Penang 14 KTM train stations TPSB: 45 street bunting panels FMN: Operates advertising in 3 cinema chains and digital media business in office building TCSB: Holds 10-year advertising concession in the MRT SBK Line in Malaysia TPSB: Manages digital billboard (E-bunting) in Malaka state, Malaysia Appendix: VGM Business Overview

Prepared by Investor Relations Department VGI Global Media Plc

VGM Shareholding Structure

57

PRE-TRANSACTION POST-TRANSACTION VGI VGM PBSB TCSB FMN RBO PCSB MUSB RMSB TPSB NBSB Senandung Sonik Tea FM

75.0% 25.0% 40.0% 83.86% 89.98% 100.0% 74.81% 49.0% 90.0% 100.0% 50.0% 30.0% 30.0% 25.1%

AVA

25.0% 10.0%

MACO

25.0%

*Transit Media in Indonesia

VGI VGM PBSB TCSB FMN RBO PCSB MUSB RMSB TPSB NBSB Senandung Sonik Tea FM

100.0% 25.0% 40.0% 83.86% 89.98% 100.0% 74.81% 49.0% 90.0% 100.0% 50.0% 30.0% 19.0% 11.0%

1 2 3

• 1. PBSB holds 11% of TCSB for and on behalf of VGM under the Declaration of Trust
• 2. Prior to transaction, VGI will transfer its beneficial interest in 19% of TCSB to VGM
• 3. Prior to transaction, VGM must obtain 10% of AVA and PBSB must obtain 25% of AVA

Appendix: VGM Shareholding Structure

Prepared by Investor Relations Department VGI Global Media Plc

Bangkok Rail Mass Transit Master Plan

515km* by 2029, 24% share of mass transit commute by 2037

58

Sources: Office of Transport and Traffic Policy and Planning, Bangkok Metropolitan Administration

Appendix: Bangkok Rail Mass Transit Master Plan

• Seoul

51%

• Hong Kong

49%

• Tokyo

48%

• Singapore

46%

• Guangzhou

17%

• Bangkok

6% RAIL MASS TRANSIT MARKET SHARE

Source: OTP, Singapore’s Land Transport Authority, Hong Kong’s Transport Department, MTR Corporation Limited, SMRT Corporation Limited, Japan Statistic Bureau

• Tokyo

42.0

• Singapore

39.4

• Hong Kong

34.9

• Bangkok

10.2 RAIL TRACK LENGTH PERVASION (per million population)

Source: United Nations Statistics Division, BTSC, BMCL, MTR Corporation Limited, SMRT Corporation Limited,

• fficial websites of rail mass transit system in major

cities

Prepared by Investor Relations Department VGI Global Media Plc

Malaysian Mass Transit Map

59

SBK Line Operated Line

Appendix: Malaysia Mass Transit Map

Prepared by Investor Relations Department VGI Global Media Plc

VGI and MACO Top20 Customer Profile

60 VGI: CUSTOMER TYPE MACO: CUSTOMER TYPE

77.4% 22.6%

Agency

Direct customer 70.0% 30.0%

VGI: TOP BRAND MACO: TOP BRAND

Appendix: VGI and MACO Top20 Customer Profile

Agency

Direct customer

Prepared by Investor Relations Department VGI Global Media Plc

Warrant Issuance and Stock Dividend

61 VGI-W1: KEY TERMS & CONDITIONS STOCK DIVIDEND

TICKER VGI-W1 TERMS 4 Years EX-RIGHTS DATE 9 July 2014 ISSUANCE DATE 1 Aug 2014 EXPIRATION DATE 1 Aug 2018 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 1,715,572,328 Units EXERCISE RATIO 1 VGI-W1 to 1 ordinary share of VGI EXERCISE PRICE THB 7.00 Expected maximum proceeds THB 12,011mn Total amount from proceeds THB 6,818mn 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 of THB 0.10 per share Cash dividend payment THB 0.011111111111 per share XD Date 17 Mar 2015 Payment Date 31 Mar 2015 Appendix: Warrant Issuance and Stock Dividend

VGI-W2: KEY TERMS & CONDITIONS

TICKER VGI-W2 TERMS 4 Years EX-RIGHTS DATE 14 Aug 2018 ISSUANCE DATE 11 Sep 2018 EXPIRATION DATE 10 Sep 2018 EXERCISE PERIOD Quarterly basis WARRANT PRICE Free ALLOCATION To existing shareholders at the ratio of 5 VGI existing shares : 1 VGI-W2

• NO. OF WARRANTS

1,711,334,815 units EXERCISE RATIO 1 VGI-W2 to 1 ordinary share of VGI EXERCISE PRICE THB 10.00 Expected maximum proceeds THB 17,113mn

Prepared by Investor Relations Department VGI Global Media Plc

Timeline of Upcoming Transit Lines

62

Appendix: Timeline of Upcoming Transit Lines