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

Prepared by Investor Relations Department VGI Global Media Plc

VGI Global Media PCL

VGI Group General Presentation

August 2018

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

Prepared by Investor Relations Department VGI Global Media Plc

Agenda

Section 1 Company at a Glance 4 Section 2 VGI – Thailand’s No.1 Offline-to-Online (O2O) Solutions Provider 10 Section 3 Business Profile by Segment and Potential Upsides Section 3.1 Transit Media 13 Section 3.2 Outdoor Media 17 Section 3.3 Office Building and Residential Media 19 Section 3.4 Aviation Media 21 Section 3.5 Activation Media 22 Section 3.6 Digital Services Business 23 Section 4 2017/18 Financial Performance 26 Section 5 1Q 2018/19 Financial in More Detail & Business Update 28 Appendices 3

Prepared by Investor Relations Department VGI Global Media Plc

Company at a Glance

Key investment features

Section 1: Company at a Glance A unique position to grow revenue

• The leader in O2O Solutions, creating a seamless customer experience
• O2O Solutions enabling advertisers to reach target audiences at every

stage of the consumer journey with greater efficiency and effectiveness. Diversified world-class assets

• Consolidated OOH advertising channels with over THB 7,000mn

inventory on hand

• Partnership with leading players including transportation, logistics,

telecommunications, mobile and messaging and micropayment applications

• Potential reach of over 40mn people in the right place, at the right

time and with the right message Leading and exclusive market positions

• Unique, long-term contract portfolio with 30-year exclusive contracts.
• Future growth underpinned by relationship with BTS and its

preeminent role in mass transit development in Thailand. 4 – 5 times expected increase in transit media capacity by 2021/22.

• Having Rabbit Group – the largest micropayment service provider in

Bangkok. Largest and most profitable media company

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

59,303m (USD 1,786m) as of July 2018.

• 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% in 2017/18.

• Offer no less than 50% of net profit in dividend payment.

4

Prepared by Investor Relations Department VGI Global Media Plc

Three Integrated Platforms

Delivering O2O solutions

ADVERTISING Rabbit Group – the leading digital

• solutions. Their main business is Payment,

which they have joined hand with the leading partners including BTS, AIS, Line, Kerry Express and BBL. Currently, Rabbit Group is the largest micro-payment platform with more than 12mn users. Through Rabbit Group’s data analytics, enabling VGI to

• ffer

measureable and targeted advertising. In July 2018, VGI successfully acquired 23% in Kerry Express – the leading parcel delivery in Thailand. Kerry Express pioneered payment-on-delivery in the country including the acceptance of cash

• r Rabbit LinePay upon the deliveries to
• households. Our logistics and activation

allow us to connect with more than 40mn customers every year. O2O SOLUTIONS With over 20 years of experience in advertising business, VGI has built the largest and most captive Out-of-Home (“OOH”) media platform. Currently, our media covers 4 principal segments: 1) Transit, 2) Office, 3) Outdoor and 4) Aviation with over THB 7,000mn inventory on hand covering nationwide network. PAYMENT LOGISTICS

Conversion Engagement Awareness

Section 1: Company at a Glance

5

Having these 3 platforms, VGI business portfolio is diversified from traditional OOH Advertising to Payment and Logistics, bringing countless

• pportunities. VGI is now a unique market leader in Thailand providing fully integrated Offline-to-Online (O2O) Solutions, creating an ecosystem of

awareness, engagement and conversion through leveraging Rabbit group’s data touchpoints on VGI’s out-of-home media platform.

DATA

Prepared by Investor Relations Department VGI Global Media Plc

O2O Solutions in Consumer Daily Life

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.

6

Section 1: Company at a Glance

Prepared by Investor Relations Department VGI Global Media Plc

Company at a Glance

Key milestone

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

7

Prepared by Investor Relations Department VGI Global Media Plc

Company at a Glance

Shareholding structure, historical dividendpayment and share price movement

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 August 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 25 May 2018) SHARE INFORMATION (as of 31 July 2018)

Section 1: Company at a Glance Stock code VGI Outstanding shares (mn shares) 8,556.7 Market capitalisation (THB mn) 59,302.6 Market capitalisation (USD mn) 1,786.0 Average daily traded value (THB mn)* 115.0 Average daily traded value (USD mn)* 3.4

*Last 12 months average daily traded value

Kanjanapas Family BTSG’s Minorities 45.0% 0.5% 20.1% 25.3% 0.1% 41.0% 59.0% 97.5% BTSG Public BTSC Kanjanapas Family VGI 0.6%

7.10 200 400 600 800 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 115mn

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

8

Prepared by Investor Relations Department VGI Global Media Plc

Agenda

Section 1 Company at a Glance 4 Section 2 VGI – Thailand’s No.1 Offline-to-Online (O2O) Solutions Provider 10 Section 3 Business Profile by Segment and Potential Upsides Section 3.1 Transit Media 13 Section 3.2 Outdoor Media 17 Section 3.3 Office Building and Residential Media 19 Section 3.4 Aviation Media 21 Section 3.5 Activation Media 22 Section 3.6 Digital Services Business 23 Section 4 2017/18 Financial Performance 26 Section 5 1Q 2018/19 Financial in More Detail & Business Update 28 Appendices 9

Prepared by Investor Relations Department VGI Global Media Plc

VGI Focus on Highest Growth Segments

Section 2: VGI #1 in OOH and Expanding Our Business Around Data-driven Sector 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

(Out-of-Home)

• Thailand’s No.1 Transit media in Bangkok
• The sole player in Office media with 175 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

10

Prepared by Investor Relations Department VGI Global Media Plc

Expanding Our Business Around Data-driven Segment

TECHNOLOGY AMPLIFIES E-PAYMENT LANDSCAPE 70% OF THAI E-COMMERCE PAYMENTS MADE IN CASH

Rapid growth in the number of smartphones, internet and innovative payment products, has driven the e-money market to evolve and experience high growth.

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

70% = CASH

30% = ALL OTHER PAYMENT TYPES Opportunity to convert cash on deliver to e-payment method. 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 18 24 36 48 56 68 91 126 221 348 512 669 788 883 1,076 1,272

2010 2011 2012 2013 2014 2015 2016 2017 Value of e-money transaction (bn) Volume of e-money transaction (mn txn)

Source: Payment Systems Report (2016), Bank of Thailand

Section 2: VGI #1 in OOH and Expanding Our Business Around Data-driven Sector

Source: Payment systems statistics, Bank of Thailand Source: Payment Systems Report (2016), Bank of Thailand Source: Ecommerce IQ

VALUE & VOLUME CAGR (6 YRS): 30%

Sweden 420

11

Prepared by Investor Relations Department VGI Global Media Plc

Agenda

Section 1 Company at a Glance 4 Section 2 VGI – Thailand’s No.1 Offline-to-Online (O2O) Solutions Provider 10 Section 3 Business Profile by Segment and Potential Upsides Section 3.1 Transit Media 13 Section 3.2 Outdoor Media 17 Section 3.3 Office Building and Residential Media 19 Section 3.4 Aviation Media 21 Section 3.5 Activation Media 22 Section 3.6 Digital Services Business 23 Section 4 2017/18 Financial Performance 26 Section 5 1Q 2018/19 Financial in More Detail & Business Update 28 Appendices 12

Prepared by Investor Relations Department VGI Global Media Plc

Transit Media

No.1 in Transit Media

• 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 3.1: Transit Media 2017/18 Revenue Contribution

Transit media revenue (THB mn)

57.5%

13

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

Existing Bangkok Mass Transit Network

At 110.8km Bangkok’s Network is immature

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 3.1: Transit Media

14

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

Future Bangkok Mass Transit Network

BTS is well positioned to secure additional 133.7km.

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

Section 3.1: Transit Media

15

BTS Other

Prepared by Investor Relations Department VGI Global Media Plc

Solid Growth Opportunities

Upside from BTS rail mass transit expansion

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

2017/18 2021/22 E CORE + EXTENSION 208 236 GREEN (SOUTHERN) NONE 60 GREEN (NORTHERN) NONE 84 PINK NONE 168 YELLOW NONE 120 GREEN EXT. (WESTERN) NONE 32 LRT NONE 64 GREY (PHASE I) NONE 72 TOTAL 208 4.0X 836 TOTAL SECURED 208 3.2X 668 2017/18 2021/22 E CORE + EXTENSION 30 34 GREEN (SOUTHERN) NONE 9 GREEN (NORTHERN) NONE 16 PINK NONE 30 YELLOW NONE 23 GREEN EXT. (WESTERN) NONE 6 LRT NONE 14 GREY (PHASE I) NONE 15 TOTAL 30 4.9X 147 TOTAL SECURED 30 3.6X 108 Section 3.1: Transit Media

16

Prepared by Investor Relations Department VGI Global Media Plc

636 732 725 622 694 735 932

2011 2012 2013 2014 2015 2016 2017

Outdoor Media

No.2 in Outdoor Media

MACO’S PRODUCTS

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

INTERNATIONAL NETWORK

• Expand its footprint to Malaysia by investing 100% in MACO

Outdoor Sdn. Bhd. (MACO Outdoor)

• On process to acquire 75% in VGI Malaysia Sdn. Bhd.

INVESTMENT & ACCOUNTING METHOD

OUTDOOR MEDIA PROFILE KEY FINANCIAL HIGHLIGHT

Section 3.2: Outdoor Media Investment: 30.3% 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 735 panels PTT Poster 240 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

17

Prepared by Investor Relations Department VGI Global Media Plc

MACO Strategic Roadmap

Growth drivers from existing media and acquisition opportunity

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

2.INTERNATIONAL MARKET EXPANSION Invest in additional potential companies in Malaysia within 2017 by establishing a strategic alliance with a strong local partners. 10 panels in portfolio Expand media coverage in Malaysia 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 Section 3.2: Outdoor Media

18

Transad Roctec

Prepared by Investor Relations Department VGI Global Media Plc

• No. of location

175 office buildings Digital Media 1,350 screens Viewer reach >500,000 people/day

Office Building & Residential Media

No.1 in Office Building and Residential Media

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

281 residential buildings Digital Media 650 screens Viewer reach >180,000 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. Section 3.3: Office Building & Residential Media 2017/18 Revenue Contribution 8.6%

19

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

Office Building & Residential Media

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

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 3.3: Office Building & Residential Media

20

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 343 LEDs screens Static Media 57 jet bridges 2,500 trolleys Media on plane 37 planes of Thai Lion Air 35 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

Aviation Media

• No. 2 in Aviation Media

Section 3.4: Aviation Media

• II. MEDIA ON PLANE

21

Prepared by Investor Relations Department VGI Global Media Plc

Activation Media

• No. 1 in Thailand

Section 3.5: Activation Media

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

22

Prepared by Investor Relations Department VGI Global Media Plc

Digital Services Business

Rabbit: Payment Business

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 9.3mn >15.0mn Active Cards 3.5mn > 8.0mn Retailer Points > 6,400 >10,000 Current 2020 Line Users 45.0mn >55.0mn Rabbit Line Pay Users 3.4mn >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 3.6: Digital Services Business

23

Prepared by Investor Relations Department VGI Global Media Plc

Digital Services Business

Rabbit: Service Business

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 1,380mn >THB 4,000mn

Section 3.6: Digital Services Business

24

Prepared by Investor Relations Department VGI Global Media Plc

Agenda

Section 1 Company at a Glance 4 Section 2 VGI – Thailand’s No.1 Offline-to-Online (O2O) Solutions Provider 10 Section 3 Business Profile by Segment and Potential Upsides Section 3.1 Transit Media 13 Section 3.2 Outdoor Media 17 Section 3.3 Office Building and Residential Media 19 Section 3.4 Aviation Media 21 Section 3.5 Activation Media 22 Section 3.6 Digital Services Business 23 Section 4 2017/18 Financial Performance 26 Section 5 1Q 2018/19 Financial in More Detail & Business Update 28 Appendices 25

Prepared by Investor Relations Department VGI Global Media Plc

VGI Financial Performance

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 4: 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.

26

Prepared by Investor Relations Department VGI Global Media Plc

Agenda

Section 1 Company at a Glance 4 Section 2 VGI – Thailand’s No.1 Offline-to-Online (O2O) Solutions Provider 10 Section 3 Business Profile by Segment and Potential Upsides Section 3.1 Transit Media 13 Section 3.2 Outdoor Media 17 Section 3.3 Office Building and Residential Media 19 Section 3.4 Aviation Media 21 Section 3.5 Activation Media 22 Section 3.6 Digital Services Business 23 Section 4 2017/18 Financial Performance 26 Section 5 1Q 2018/19 Financial in More Detail & Business Update 28 Appendices 27

Prepared by Investor Relations Department VGI Global Media Plc

PROFIT AND LOSS STATEMENT

1Q 2018/19 Overview

• Further increase in revenue of 26.5% YoY. The strong growth is

driven by the robust performance across OOH media.

• Gross profit margin significantly increased from 58.2% to 63.6%

due to high sales despite increase in cost from Transit media concession fee, cost related to the launch of 35 digital billboards and consolidation effect of Co-Mass by MACO.

• EBITDA climbed considerably by 43.9% as a result of the

continuously positive performance.

• Net profit increased by 49.4% YoY to THB 261mn.

KEY FACTORS 1Q 2018/19 REVENUE CONTRIBUTION TRANSIT THB 620mn 57.6% 7.5% DIGITAL SERVICES THB 80mn 8.6% OFFICE & OTHER THB 93mn 26.4% OUTDOOR THB 284mn THB 1,077mn

1Adjusted for share of investment in JV and associates and non-recurring expenses. 2As shown in financial statement, excluding minority interest. 3Net profit excludes minority interest, is adjusted for amortisation of PPA in MACO, non-recurring expenses and share of investment in JV and associates.

(THB mn) 1Q 17/18 4Q 17/18 1Q 18/19 QoQ (%) YoY (%) Operating revenue 852 1,128 1,077

• 4.6%

26.5% Cost of sales 356 406 392

• 3.5%

10.1% Gross profit 496 722 685

• 5.1%

38.2% EBITDA 352 524 507

• 3.2%

43.9% Adjusted EBITDA1 361 535 542 1.3% 50.3% EBIT 251 413 384

• 7.1%

53.0% Interest expense 23 17 15

• 10.2%
• 33.5%

Tax 55 66 82 23.8% 50.4% Net Profit2 175 288 261

• 9.3%

49.4% Adjusted net profit3 192 305 304

• 0.6%

58.4% Gross profit margin 58.2% 64.0% 63.6% EBITDA margin 41.4% 46.4% 47.1% Adjusted EBITDA margin 42.3% 47.4% 50.3% Net profit margin 20.5% 25.5% 24.3% Adjusted net profit margin 22.5% 27.1% 28.2% Section 5: 1Q 2018/19 Financial in More Detail & Business Update

28

Prepared by Investor Relations Department VGI Global Media Plc

170 232 265 291 284

1Q 2Q 3Q 4Q 1Q

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

Revenue by Business Units

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

+67.4% YoY

97 87 84 110 80 1Q 2Q 3Q 4Q 1Q

• 17.2% YoY

458 488 463 516 540 61 88 85 102 80 519 576 548 618 620

1Q 2Q 3Q 4Q 1Q

+19.5% YoY

2017/18 2018/19

O2O SYNERGIES ON TRANSIT MEDIA

66 83 81 108 93 1Q 2Q 3Q 4Q 1Q

+40.0% YoY

Higher utilisation rate as well as price increases. In addition, VGI recognised more revenue from new media under the Other media. Driven by the ongoing revenue recognition of 35 digital screens as well as consolidation of Co-Mass by MACO. Lower revenue from project management fee. Driven by strong organic growth, higher utilisation rate from digital media and merchandising spaces in particular as well as benefit from O2O Solutions. 2017/18 2018/19 2017/18 2018/19 2017/18 2018/19

29

Section 5: 1Q 2018/19 Financial in More Detail & Business Update

Prepared by Investor Relations Department VGI Global Media Plc

Balance Sheet & Cash Flow

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

5,927 5,930 3,705 10,956 31 March 18 30 June 18 64.9% 35.1% Non-current assets Current assets 38.5% 61.5% 16,886 9,632

Actual Target

1Q 18/19 FY 18/19 Transit Media 10 300 Office & Others Media 16 100 Total VGI 26 400 Outdoor Media 23 450 Digital Services 9 150 Total VGI, MACO & Rabbit 58 1,000

CAPEX (THB mn)

757 727

Beginning cash (Restated) (31/3/2018) CFO CFI CFF Ending cash (30/6/2018) *After tax and net tax refund (THB -40mn) and interest expense (THB -15mn) **Included translation adjustment of (THB 0.1mn)

IB Debt THB 1,763mn THB 1,798mn D/E ratio 0.3x 0.1x 347* (128)**

Equity 5,926 13,113 1,658 1,649 2,048 2,124 31 March 18 30 June 18 Non-current liabilities Current liabilities 61.5% 17.2% 21.3% 77.7% 9.8% 12.6% 16,886 9,632

(250)

30

Section 5: 1Q 2018/19 Financial in More Detail & Business Update

Prepared by Investor Relations Department VGI Global Media Plc

Business Update

An acquisition of Kerry Express (Thailand)

SERVICE CHANNEL

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

NETWORK AND CHANNEL

• Deliver more than 800,000 parcels per day
• 6,000 delivery vehicles
• 700 distribution centers
• >2,500 services points at alliance shops such as

VGI SHAREHOLDING STRUCTURE (as of August 2018)

TRANSACTION DETAILS

% of investment 23% of total shares Total investment THB 5,901mn Source of funds Cash from proceed from PP-1 and VGI-W1

KERRY BUSINESS

Kerry is the No. 1 private express delivery services in Thailand, with a network of more than 1,200 services points nationwide and more than 6,000 delivery vehicles.

Remark: VGI total shares = 8,556,680,098 shares, which based on shares after exercise of VGI-W1 and subscription of PP by Kerry.

1 BTS includes 45.0% of BTSC, 23.1% of BTSG and 0.6% from Kanjanapas Family 2 Kerry Express includes 1.3% of KLN Logistics, 0.1% of Siam Chao Phraya Express and

Gather Excellence

BTS Public VGI KERRY Express (Thailand) 68.7%1 29.9% 1.4%2 31

Section 5: 1Q 2018/19 Financial in More Detail & Business Update

Prepared by Investor Relations Department VGI Global Media Plc

Business Update

Trans.Ad Solutions Co., Ltd. and Roctec Technology Ltd.

TRANSACTION DETAILS TRANSACTION RATIONALE

MACO, through our wholly-own subsidiary Eye On Ads Co., Ltd., to acquire 81.65% of Trans.Ad Solutions Co., Ltd. Trans.Ad will use investment funds from MACO to invest 89.0% of Roctec Technology Ltd. Total value THB 388mn Target Trans.Ad Solutions Co., Ltd. Roctec Technology Ltd. Source of funding Bank loans and proceeds from issuance and allocation of newly issued shares (Right Offering). Maximum proceeds: THB 1,375.6mn Completion date 26 July 2018

• Obtain expertise in media solutions, system integrations, networking

infrastructures, securities and maintenances of asset.

• Understand and Capable of future business development process in

terms of hardware, system integration and service on large-scale public transportations, Government Organization and Advertisement industry.

• Capable to provide Communication Networks between multiple large
• rganizations and Manage the networks.
• High growth potential for expanding our business into core mass

transits of ASEAN region and leverage media industry by using data benefits.

32

Section 5: 1Q 2018/19 Financial in More Detail & Business Update

Prepared by Investor Relations Department VGI Global Media Plc

Network Developments

TRANSIT MEDIA Station Sponsorship Campaign

• AIS at Siam
• Shopee at Phrom Phong and Victory Monument
• Line Mobile at Mo Chit and Sala Daeng
• Krung Thai at Ploen Chit
• AEON brand at Asok
• McDonald’s at National Stadium
• Netflix at Thong Lo
• Werk Co-working Space at Ratchadamri

OFFICE MEDIA

• Total 175 office buildings (1,350 digital screens)

OUT-OF-HOME MEDIA DIGITAL SERVICES

OFFLINE PAYMENT

• 9.3mn cardholders
• 6,400 retail points
• 177 brand partners

ONLINE PAYMENT

• 3.4mn Rabbit LinePay members
• 991 merchants

MICRO LOAN SERVICES

• THB 1,380mn

33

Section 5: 1Q 2018/19 Financial in More Detail & Business Update

Prepared by Investor Relations Department VGI Global Media Plc

Agenda

Section 1 Company at a Glance 4 Section 2 VGI – Thailand’s No.1 Offline-to-Online (O2O) Solutions Provider 10 Section 3 Business Profile by Segment and Potential Upsides Section 3.1 Transit Media 13 Section 3.2 Outdoor Media 17 Section 3.3 Office Building and Residential Media 19 Section 3.4 Aviation Media 21 Section 3.5 Activation Media 22 Section 3.6 Digital Services Business 23 Section 4 2017/18 Financial Performance 26 Section 5 1Q 2018/19 Financial in More Detail & Business Update 28 Appendices 34

Prepared by Investor Relations Department VGI Global Media Plc

Company Structure

BTSG VGI

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

BTSC

97.5% 25.3% 45.0%

Appendix: Company Structure

Public Kerry Express (Thailand)

1.4% 28.3%

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%

35

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

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% 22.8% 90% 90% 10% 10%

BSSH

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

Appendix: Rabbit’s Company Structure

36

Prepared by Investor Relations Department VGI Global Media Plc

Organisation Structure

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 37

Prepared by Investor Relations Department VGI Global Media Plc

Transit Media Products

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

Appendix: Transit Media Products

38

Prepared by Investor Relations Department VGI Global Media Plc

Transit Media Products

Station Sponsorship Campaign

Appendix: Transit Media Products

39

Prepared by Investor Relations Department VGI Global Media Plc

Office & Residential Media Products

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

Appendix: Office & Residential Media Products

40

Prepared by Investor Relations Department VGI Global Media Plc

Outdoor Media Products

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

Appendix: Outdoor Media Products

41

Prepared by Investor Relations Department VGI Global Media Plc

Aviation Media Products

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

Appendix: Aviation Media Products

42

Prepared by Investor Relations Department VGI Global Media Plc

Activation Services

Appendix: Activation Media Services

43

Prepared by Investor Relations Department VGI Global Media Plc

VGM Business Overview

44 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

45

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

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

46

Prepared by Investor Relations Department VGI Global Media Plc

Malaysian Mass Transit Map

SBK Line Operated Line

Appendix: Malaysia Mass Transit Map

47

Prepared by Investor Relations Department VGI Global Media Plc

VGI and MACO Top20 Customer Profile

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

48

Prepared by Investor Relations Department VGI Global Media Plc

Warrant Issuance and Stock Dividend

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 To be announced EXPIRATION DATE To be announced 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

Up to 1,808,296,751 units EXERCISE RATIO 1 VGI-W2 to 1 ordinary share of VGI EXERCISE PRICE THB 10.00 Expected maximum proceeds THB 18,083mn

49

Prepared by Investor Relations Department VGI Global Media Plc

Timeline of Upcoming Transit Lines

START CIVIL WORKS CONSTRUCTION START FULL OPERATION CONSTRUCTION PERIOD OPERATION YEAR, UP UNTIL EXPECTED OPEN BID/ AWARD BIDDING & CONSTRUCTION PERIOD

Appendix: Timeline of Upcoming Transit Lines

50