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VGI Global Media PCL OUTDOOR AVIATION OFFICE VGI MEDIA EMPIRE ACTIVATION TRANSIT RABBIT VGI Group General Presentation November 2017 Prepared by Investor Relations Department VGI Global Media Plc Disclaimer Investment involves risk.

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SLIDE 1

Prepared by Investor Relations Department VGI Global Media Plc

VGI Global Media PCL

VGI Group General Presentation

November 2017

TRANSIT

OUTDOOR AVIATION OFFICE RABBIT

ACTIVATION

VGI MEDIA EMPIRE

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SLIDE 2

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

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

Disclaimer

2

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Prepared by Investor Relations Department VGI Global Media Plc

Agenda

Section 1 Company at a Glance 4 Section 2 VGI #1 in OOH and Expanding Our Business Around Data-driven Sector 10 Section 3 Business Profile by Segment and Potential Upsides Section 3.1 Transit Media BTS-related Media 13 SBK-related Media, Malaysia 17 Section 3.2 Outdoor Media 18 Section 3.3 Office Building and Residential Media 20 Section 3.4 Aviation Media 22 Section 3.5 Activation Media 23 Section 3.6 Digital Services Business 24 Section 4 2017/18 Target and Strategic Update 28 Section 5 2016/17 Financial Performance 33 Section 6 2Q 2017/18 Financial in More Detail & Business Update 35 Appendices 3

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Prepared by Investor Relations Department VGI Global Media Plc

Company at a Glance

Key investment features

Section 1: Company at a Glance

4

Exclusive long-term mass transit contracts with consistent growth

  • Unique, long-term contract portfolio. High barriers to entry from

exclusive mass transit contracts with parent company “BTS” in core CBD areas.

  • More than 80% of VGI’s current profit is secured by a mass transit

concession with more than 12 years remaining

  • Ongoing, resilient mass transit ridership growth of 9% per annum

since inception A unique play on the most attractive advertising media segments

  • Possesses differentiated and market-leading assets (THB 6.2bn of

cross-media capacity)

  • Daily audience reach of over 3mn people nationwide
  • Focus on the fastest growing media segments. OOH and Online

have grown on average 10% and 28%, respectively in the past 5 years The largest, the most profitable OOH media company in Thailand and among the top 5 most profitable OOH media companies in Asia

  • No. 1 listed OOH media company on SET by market capitalisation of

THB 39,124mn (USD 1,153mn)1 with approximately 42% market share in 2016/172

  • Long-term

contracts allow capital investment and superior

  • margins. VGI recorded EBITDA margin of 45% and net profit margin
  • f 27% in 2016/17 .

Unlocking future growth catalysts

  • Future growth underpinned by relationship with BTS and its

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

  • Upside potential from increased digitisation of our media platform

and M&A opportunities

  • Synergies with Rabbit Group. The only media company in Thailand

to offer measureable and targeted multimedia advertising through data analytics.

  • Poised to benefit from growth multipliers when media spending

recovers

1Exchange rate at THB 33.93 per USD as of 30 June 2017 2The Nielsen (Thailand) Co., Ltd. 3Company’s source, press releases and Bloomberg

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Prepared by Investor Relations Department VGI Global Media Plc

Company at a Glance

Key milestone

2009:

  • BTSC becomes major

shareholder of VGI

  • VGI acquired POV, whose

business is providing advertising service across premiere office building in Bangkok CBD 2010:

  • VGI granted the right to

manage advertising area on the BRT for 7 years

  • VGI granted initial

“Advertising Display Concession Agreement” in “Sales floor” from Tesco Lotus and Big C 1995 - 1999 1995:

  • Established under the

name Global Technologies and Telecom Co.,Ltd .and changed its name to VGI Global Media Co.,Ltd. in December 1998 1999:

  • Commencement of

advertising management and operations of 23 BTS core network stations and all trains under and exclusive license by BTSC which will be expired in December 2029 2003 - 2005

  • VGI granted initial

“Advertising Display Concession Agreement” from; 2003: Watsons 2004: Tesco Lotus (non-Sales fl.) 2005: Big C (non-Sales fl.) 2009-2011 Jul 2013:

  • VGI was included as a

constituent member of SET 100 Index Jan 2014:

  • VGI was included as a

constituent member of SET 50 Index 2013/14 May 2015:

  • Received right to manage

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

  • Entered into aviation media by

investing in Aero Media 20% of its total shares

  • Terminated Modern Trade media

business Nov 2015:

  • Granted right to manage

advertising for Artista Media across 219 residential buildings 2015/16 May 2012:

  • Amended “License to

Manage Marketing Services Agreement” with BTSC

  • BSS was established to
  • perate Rabbit Card

business with exclusive rights from BTS sky train network and BRT Oct 2012:

  • VGI was successfully listed
  • n SET

2012/13 May 2014:

  • Entered into outdoor

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

  • Selected to be the “Best

under a Billion” of small and midsize listed companies by Forbes 2014 Mar 2015:

  • Announced our intention

to evolve in “Nationwide Integrated Media Platform” 2014/15 May 2016:

  • Increased stake in MACO to 37.42%

Aug 2016:

  • VGI propelled itself to become

a ”Data Centric Media Hypermarket” by announcing to acquire 90% in BSS and BSSH

  • Increased stake in Aero Media to

30% Sep 2016:

  • Entered into Malaysian market

through a 19% investment in Titanium Compass Nov 2016:

  • Expand to Activation media by

acquiring 40% in Demo Power (Thailand) March 2017:

  • Successfully acquired 90% in BSS

and BSSH. 2016/17

Section 1: Company at a Glance

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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 2.7% 2.7% 1.2%

2014/15 2015/16 2016/17 Dividend (THB mn) Dividend Yield (%)

(THB) (THB mn)

SHAREHOLDING STRUCTURE (as of November 2017) 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

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

SHARE PRICE MOVEMENT (as of 30 November 2017) SHARE INFORMATION (as of 30 November 2017)

Payout Ratio 16/17 62% 14/15 123% 15/16 85% Section 1: Company at a Glance Stock code VGI Outstanding shares (mn shares) 6,864.3 Market capitalisation (THB mn) 43,245.3 Market capitalisation (USD mn) 1,324.8 Average daily traded value (THB mn)* 75.2 Average daily traded value (USD mn)* 2.3

*Last 12 months average daily traded value

6

Kanjanapas Family BTSG’s Minorities BTSG BTSC Public Kanjanapas Family 51.0% 0.5% 22.1% 26.4% 0.1% 41.0% 59.0% 97.5%

6.30

  • 500.0

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

  • 1.00

2.00 3.00 4.00 5.00 6.00 7.00 8.00

12-Oct-12 12-Oct-13 12-Oct-14 12-Oct-15 12-Oct-16 12-Oct-17

VGI TURNOVER (RHS) SET Index (rebased) VGI TB ADTV = THB 116mn

Note: The Company issued new ordinary shares of 340mn shares in December 2017 as a result the Company’s total shares increased to 7,204.3mn share.

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Prepared by Investor Relations Department VGI Global Media Plc

Well Diversified Segment Portfolio

Section 1: Company at a Glance

7 VGI GROUP

BKK, Thailand KL, Malaysia BKK, Thailand Nationwide, Thailand KL, Malaysia Nationwide, Thailand Nationwide, Thailand Nationwide, Thailand Nationwide, Thailand >770,000, BKK >150,000, KL >500,000 >1,200,000 >330,000 >500,000 >20mn >100,000

OOH Media Platform Digital Services THB 2,681mn THB 371mn 30.7% 30.0% 40.0% 90.0% 90.0% 100.0%

TRANSIT OFFICE OUTDOOR AVIATION ACTIVATION PAYMENT SERVICES

MACO

AERO MEDIA DEMO POWER

BSS & BSSH VGI

COMPANY SEGMENT GEOGRAPHICAL ACTIVITY MARKET SHARE1 & NETWORK AUDIENCE REACH PER DAY KEY GROWTH AREA SEGMENT 2016/17 REVENUE2

60% market share 31.0km, BKK 51.0km, Malaysia 75% market share 170 office building 262 condominium  30% market share >2,200 billboards  20% market share 13 airports  70% market share >1,000 stores 8.1mn cardholders 3.0mn active holders 43mn LINE users 2.4mn LINE pay users 16mn insurance premium/ month 900mn

  • utstanding loan

Additional inventory from BTS’s new line extensions Grade B&C and upcountry market To convert 10% of static billboards to digital screens Expand to airports in South East Asia Potential expansion in BTS stations and

  • ffice buildings

Expand Rabbit card & Rabbit Line Pay network Rabbit’s data Expand insurance and micro loan network

1 Based on 30% discount from Nielsen advertising spending 2 Excluding revenue from Titanium Compass, Aero Media and Demo Power of which are recognised as equity method

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Prepared by Investor Relations Department VGI Global Media Plc

Our Media Capacity reach 6.8bn from our Diversified Media Segments

8

VGI Group’s media capacity of THB 6.8bn (as of October 2017)

  • 170 office buildings
  • 242 residential buildings
  • 200,000 sq.m. in chamchuri square
  • 1,065 static billboards
  • 256 PTT posters
  • 21 LED screens and 255 LCD screens
  • 636 street furniture panels

THB 0.5bn THB 3.0bn

  • 30 BTS stations
  • 208 carriages
  • >4,000 static displays
  • 2,029 digital screens
  • 8,800 sq.m. merchandising space

THB 1.0bn

  • 3,000 salespeople
  • 360 exclusive stores
  • 275 brand clients
  • 77 provinces nationwide

THB 0.3bn TRANSIT THB 0.6bn THB 1.4bn

  • 13 airports (342 LCDs)
  • 2,500 trolleys
  • 57 jetbridges
  • sale agent for 76 aircrafts
  • Banner Advertising
  • Direct Targeted Marketing

OFFICE OUTDOOR AVIATION ACTIVATION DIGITAL SERVICES

Section 1: Company at a Glance Note: Media capacity of VGI’s standalone basis was THB 3.3bn comprising of Transit media of THB 3.0bn and Office media of THB 0.3bn.

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Prepared by Investor Relations Department VGI Global Media Plc

Agenda

Section 1 Company at a Glance 4 Section 2 VGI #1 in OOH and Expanding Our Business Around Data-driven Sector 10 Section 3 Business Profile by Segment and Potential Upsides Section 3.1 Transit Media BTS-related Media 13 SBK-related Media, Malaysia 17 Section 3.2 Outdoor Media 18 Section 3.3 Office Building and Residential Media 20 Section 3.4 Aviation Media 22 Section 3.5 Activation Media 23 Section 3.6 Digital Services Business 24 Section 4 2017/18 Target and Strategic Update 28 Section 5 2016/17 Financial Performance 33 Section 6 2Q 2017/18 Financial in More Detail & Business Update 35 Appendices 9

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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

10

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 with 60% of market share
  • The sole player in office building media with 170 Grade A&B

buildings under management

  • Strong nationwide footprint in outdoor media with >2,200

billboards

  • Thailand’s no. 2 aviation media with 20% market share

Online

  • Thailand’s no. 1 activation operator with 70% market share
  • The first mover in Thailand who established the integrated
  • nline and offline media platform

OOH MARKET SHARE: VGI GROUP VS PEERS

VGI controls almost half of the OOH media market share. Thanks to our continuing organic growth and participating in M&A.

1 terminated Modern Trade business

Note: VGI’s market share is based on 35% nominal market discount rate Source: The Nielsen (Thailand) Co., Ltd

  • 14.8%
  • 8.3%
  • 6.0%
  • 4.2%

0.2% 10.1% 27.5% 36.4% In-store Traditional media** Analogue TV Cinema Total industry OOH Online Digital*

ADVERTISING MARKET 5 YRS CAGR (2011/12 – 2016/17)

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)

2012/13 2013/14 2014/15 2015/16 2016/17

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

114bn 60.3% 23.7% 9.2% 6.3% 0.6% 113bn 62.3% 23.3% 9.0% 4.7% 0.8%

2,838 3,149 3,678 3,021 3,537 3,352 4,082 2,715 3,223 4,297 6,189 7,231 6,393 6,244 7,834

2012/13 2013/14 2014/15 2015/16 2016/17

VGI Group Revenue Peers

45.8% 43.6% 57.5% 48.4%

1

54.2% 56.4% 42.5% 51.6% 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

45.2% 54.8% 3bn 4bn 6bn 8bn 9bn

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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 50 150

2010 2011 2012 2013 2014 2016E 2020E

9x increased

United Kingdom 313 Singapore 698 Malaysia 71 South Korea 369

Thailand

39 18 24 36 48 56 68 91 221 348 512 669 788 883 1,076

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

Source: Payment Systems Report, 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 (2015), Bank of Thailand Source: Ecommerce IQ

VALUE & VOLUME CAGR (5 YRS): 30%

11

Sweden 397

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Prepared by Investor Relations Department VGI Global Media Plc

Agenda

Section 1 Company at a Glance 4 Section 2 VGI #1 in OOH and Expanding Our Business Around Data-driven Sector 10 Section 3 Business Profile by Segment and Potential Upsides Section 3.1 Transit Media BTS-related Media 13 SBK-related Media, Malaysia 17 Section 3.2 Outdoor Media 18 Section 3.3 Office Building and Residential Media 20 Section 3.4 Aviation Media 22 Section 3.5 Activation Media 23 Section 3.6 Digital Services Business 24 Section 4 2017/18 Target and Strategic Update 28 Section 5 2016/17 Financial Performance 33 Section 6 2Q 2017/18 Financial in More Detail & Business Update 35 Appendices 12

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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 2,029 screens Viewer reach 772,132 people/day Merchandising space > 8,000sqm.

  • I. TRAIN (40.3%)
  • II. STATION (35.8%)
  • III. MERCHANDISING & OTHER (24.0%)

TRANSIT MEDIA PROFILE OUR PRODUCTS (% OUT OF 2016/17 TRANSIT MEDIA REVENUE)

  • 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

7 7 YRS RS CAGR: R: +11. 1.2% 2%

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

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

cou

  • up

d’etat Shu hutd tdown BKK BKK floo

  • ods

Red shi hirt rt Yell ellow shi hirt rt

Section 3.1: Transit Media 2Q 2017/18 Revenue Contribution

Transit media revenue (THB mn)

58.9%

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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 2016 EXISTING LINES BY OPERATOR

BANG YAI – BANG SUE 23.0km

  • NATION. STADIUM – BANG WA

14.0km MO CHIT – SAM RONG 24.1km PHAYATHAI – SVB 28.5km BANG SUE – HUA LAMPHONG 20.0km

ROUTE DISTANCE

  • NO. OF

STATION OPERATING

BLUE BANG SUE – HUA LAMPHONG 20.0 18

JUL-04

PURPLE BANG YAI – BANG SUE 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

Immature network, 109.6km as of May 2017

35.0 34.0 8.0 38.1 43.0 28.5

TOTAL DISTANCE: 109.6KM

772,132 273,637 61,500

BTS BEM SRT

TOTAL AVG. DAILY RIDERSHIP: 1,107,269 TOTAL STATION: 77 Section 3.1: Transit Media

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

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Prepared by Investor Relations Department VGI Global Media Plc

137.3 124.4 113 71 1,000,000 2,900,000

BTS OTHER

ADDITIONAL LINES IN THE NEXT 5 YEARS FUTURE LINES IN THE NEXT 5 YEARS

BTS’S FOCUS ROUTE DISTANCE NO. OF STATION OPERATING

GRE GREEN (SOUTHERN) BEARING

  • SAMUT PRAKARN

12.6 9 2018 GRE GREEN (NOR 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 GRE GREEN EXT. (WE WESTE STERN RN) BANG WA

  • TALING CHAN

7.0 6 2020 LRT RT BANG NA - SUVARNABHUMI 18.3 14 2022 GRE GREY Y (I) WATCHARAPHON – THONG LO 16.3 15 2022

OTHER ROUTE TE DISTA TANCE NO

  • NO. OF

F STATI TION OPE PERA RATI TING

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 RK RE RED BANG SUE - RANGSIT 26.3 8 2021 DARK RK RE RED BANG SUE – HUA LUM HONG 6.5 5 2020 LIGH GHT RE RED BANG SUE – PHAYATHAI – MAKKASAN – HUAMAK 19.0 9 2020 GRE GREEN (SOTHERN) SAMUT PRAKARN - BANGPU 7.0 4 2021 GRE GREEN (NOR NORTHERN) KHU KHOT – LUMLUKKA 7.0 4 2021 PUR URPL PLE (SOUTHERN) TAO POON – RAT BURANA 23.6 17 2022

Future Bangkok Mass Transit Network

BTS is well positioned to secure additional 137.3km

TOTAL DISTANCE: 261.7KM TOTAL AVG. DAILY RIDERSHIP: >3,900,000 TOTAL STATION: 184

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

Section 3.1: Transit Media

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

15

Secured by BTSC Under negotiation

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Prepared by Investor Relations Department VGI Global Media Plc

2.0MN TARGETED ADVERTISING VIEWERS

Solid Growth Opportunities

Upside from BTS rail mass transit expansion and monetization of Rabbit’s data

4.0X EXPECTED INCREASE IN BTS TRAIN CAPACITY 4.9X EXPECTED INCREASE IN BTS STATION CAPACITY FIRST PHASE OF MONETISING RABBIT’S DATA AND PLATFORM

2016/17 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 2016/17 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

New extensions are expected to add more than 1 million passengers

  • daily. Together with our existing networks, the exposure to VGI

advertising is expected to increased by 2.9X.

772,132 932,000 1,065,000

2016/17 2021/22

2.6X increased

Ridership from VGI’s existing network Ridership from New extensions

To create targeted media through Rabbit’s data across BTS’s existing and future media platform Improved occupancy by monetising rabbit’s data and BTS platform

80% 95% 20% 5%

3YRS AVG. 2017/18 - 2020/21

Successful case: 11 STREET Station Sponsorship

(launched in February 2017)

  • Innovative

Rabbit Media has partnered with 11 STREET, which stimulates the 3 key senses – touch, sight and sound.

  • Leveraging on the data analysis of

travel behavior coupled with strategically selected VGI’s media

Occupied inventory Unoccupied inventory

1,997,000 Section 3.1: Transit Media

16

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Prepared by Investor Relations Department VGI Global Media Plc

Transit Media in Malaysia

Replicating our successful BTS-related media business model into an international market

TITANIUM COMPASS PROFILE

RIGHT AND NETWORK

  • Exclusive right to manage advertising space across SBK line

INVESTMENT & ACCOUNTING METHOD Investment: 19.0% in Titanium Compass Accounting Method: Equity sharing

  • No. of station

31 stations

  • No. of trains

58 trains

  • No. of carriages

232 carriages Line length 51 kilometers Viewer reach >140,000/day Operation date 17 July 2017

Expand our presence into an international market by setting up a JV, Titanium Compass Sdn Bhd, with three major leading advertising players in Malaysia.

  • 10 years (Dec 2016 – Dec 2026)

LENGTH OF CONTRACT

TITANIUM COMPASS SHAREHOLDING STRUCTURE SBK LINE INFRASTRUCTURE

VGI is entitled to subscribe for addition share of 30% in Titanium Compass . TITANIUM COMPASS VGI Puncak Berlian Utusan Airtime Ikantan Asli 19% 51% 20% 10% Section 3.1: Transit Media

17

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Prepared by Investor Relations Department VGI Global Media Plc

Outdoor Media

No.2 in Outdoor Media

MACO’S PRODUCTS (% OUT OF 2016 MACO REVENUE)

  • I. BILLBOARD (44%)
  • II. STREET FURNITURE (50%)
  • III. CREATIVE PRODUCTION (6%)

INTERNATIONAL NETWORK

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

Outdoor SDN BHD (MACO Outdoor)

  • Currently, MACO Outdoor has 10 panels located in main express

way and gateway to KL international airport INVESTMENT & ACCOUNTING METHOD

OUTDOOR MEDIA PROFILE KEY FINANCIAL HIGHLIGHT

Section 3.2: Outdoor Media Investment: 30.7% in Master Ad Plc (MACO; a listed in SET) Accounting Method: Consolidation 636 732 725 622 694 735

2011 2012 2013 2014 2015 2016

MACO’s revenue (THB mn)

18

DOMESTIC NETWORK

2Q 2017/18 Revenue Contribution 23.7%

Mega billboard 280 panels Networking billboard 785 panels PTT poster 256 panels LED screen 21 screens LCD screen 255 screens Street furniture 636 panels under 20 BTS Sky Train stations, 20 major flyovers and public transit hubs

  • Billboard and street furniture covering all provinces in Thailand
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Prepared by Investor Relations Department VGI Global Media Plc

MACO Strategic Roadmap

Growth drivers from existing media and acquisition opportunity

1.DIGITISATION To convert static media to digital media in potential areas in order to reach customers’ need and gain more interaction with audiences. 2.INTERNATIONAL MARKET EXPANSION Invest in additional potential companies in Malaysia within 2017 by establishing a strategic alliance with a strong local partners. 3.STRATEGIC PARTNERSHIP Strengthen alliance and partnership network to build our competitive advantage 4.ADAPTIVE MEDIA CAMPAIGN Create value added media through Rabbit’s data driven

Existing Network Target 2017

100% static 22 panels in portfolio Multi-platform

Big Data

To have 10% digital screen in our portfolio Secure additional 400 panels in Malaysia by partnering with strategic partners 1-2 additional M&A After combined with Multi Sign, we now have 30% market share in outdoor media

LED SCREEN IN UPCOUNTRY (HATYAI PROVINCE) BILLBOARD IN MALAYSIA

10% Digital 90% Static

KEY GROWTH AND DEVELOPMENT MACO VGI GROUP Multi Sign RABBIT

Section 3.2: Outdoor Media

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  • No. of location

170 office buildings Digital Media 1,309 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

262 residential buildings Digital Media 571 screens Viewer reach >180,000 people/day 19 76 79 145 149 163 201 227

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

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

RE REVENUE CAGR R (7 YRS RS) : 4 42. 2.5% 5%

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

20

2Q 2017/18 Revenue Contribution 8.5%

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  • 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 484,300 sq.m. new office supply during 2017 – 2019

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 Section 3.3: Office Building & Residential Media Potential

buildings

50% 50% Total 439 Buildings

ARTISTA’s network

Source: Artista Media

484,300 sq.m.

  • 50

100 150 200 250

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

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

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

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

13 airports Digital Media 342 LEDs screens Static Media 57 jet bridges 2,500 trolleys 12 buggy service cart wrap Media on plane 26 planes of Thai Lion Air 30 planes of Air Asia 20 planes of Nok Air Website management All websites of AOT airports Viewer reach >300,000 people/day

RIGHTS & NETWORK

  • Rights to manage advertising space across 13 airports, including

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

  • 3 – 5 years on average

LENGTH OF CONTRACT

12Y 2YRS S CAGR: R: 11.0%

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

Aviation Media

  • No. 2 in Aviation Media

Section 3.4: Aviation Media

22

  • II. MEDIA ON PLANE
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Activation Media

  • No. 1 in Asia

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 Clients >300 brands 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 Asia, covering a nationwide network in Thailand 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

109,589 109,589 720,155 740,000

Demo Power Demo Power + Upside from VGI

14.3X increased BTS Office Building Demo Power

1,569,744

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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 8.1mn >15.0mn Active Cards 3.0mn > 8.0mn Retailer Points > 4,400 points >10,000 points Current 2020 Line Users 43.0mn >55.0mn Rabbit Line Pay Users 2.4mn >10.0mn Online Merchants > 400 merchants >600 merchants

CURRENT VS FUTURE’S RIGHT AND NETWORK

ONLINE PAYMENT: RABBIT LINE PAY

INVESTMENT & ACCOUNTING METHOD Investment: 36.0% 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 & Data Business

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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 Gross written insurance premiums/ month >THB 16mn >THB 100mn Current 2020 Outstanding Loan THB 900mn >THB 4,000mn

Section 3.6: Digital & Data Business

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Digital Services Business

Rabbit: Media Business

WEB PORTAL BUSINESS

INVESTMENT & ACCOUNTING METHOD Investment: 23% in Rabbit Internet (RI) Accounting Method: Consolidation1 CURRENT VS FUTURE’S SERVICE AND NETWORK

RABBIT DAILY WEBSITE

  • I. RABBIT DAILY, LIFESTYLE WEBSITE
  • Manage web portal under the brand “Rabbit Daily”, which provides

links to websites and articles, and online web-based application business

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

Current 2020

  • No. of visitor

3mn monthly visits >30mn monthly visits

  • No. of media format

50 >300

Online lifestyle publisher, providing social news and entertainment content and advertorials

RABBIT MEDIA

The media solution, integrating Offline & Online media platform with Rabbit’s data.

OFFICE OUTDOOR AVIATION TRANSIT ACTIVAION

OFFLINE Out-of-Home Platform AWARENESS ENGAGEMENT ONLINE Digital Platform & Data CONVERSION ADAPTIVE

Data driven full integrated offline- to-online (and vice versa) media solution platform, to stimulate and capture call to actions Facebook Instagram Google App networks Mobile networks Rabbit Line Pay Rabbit Daily RABBIT DATABASE Section 3.6: Digital & Data Business

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Agenda

Section 1 Company at a Glance 4 Section 2 VGI #1 in OOH and Expanding Our Business Around Data-driven Sector 10 Section 3 Business Profile by Segment and Potential Upsides Section 3.1 Transit Media BTS-related Media 13 SBK-related Media, Malaysia 17 Section 3.2 Outdoor Media 18 Section 3.3 Office Building and Residential Media 20 Section 3.4 Aviation Media 22 Section 3.5 Activation Media 23 Section 3.6 Digital Services Business 24 Section 4 2017/18 Target and Strategic Update 28 Section 5 2016/17 Financial Performance 33 Section 6 2Q 2017/18 Financial in More Detail & Business Update 35 Appendices 27

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2017/18 Target

28 BTS – Related 54% Outdoor 24% Office Building & Other 8% Rabbit Group 15%

17/18 EXPECTED REVENUE CONTRIBUTION

THB 4,000mn

KEY GROWTH DRIVERS

  • Increase in price and occupancy
  • Kick in synergies from Rabbit Media

BTS

  • Full year effect of Multisign’s consolidation

and additional M&A

  • Digital conversion

Outdoor

  • Full year revenue recognition from BSSH’s

subsidiaries

  • Additional revenue from Cross Media

campaign

Rabbit Group

  • 10 additional office buildings and price

increase

Office Building & Other

TOTAL CAPEX (THB MN)

700 250 210 150 90

Total CAPEX BTS-Related Media Outdoor Media Rabbit Group Office Building & Other Media

VGI TARGET REVENUE (THB MN)

4,000 2,150 950 600 300

Total Revenue BTS-Related Media Outdoor Media Rabbit Group Office Building & Other Media

Section 4: 2017/18 Target and Strategic Update

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PROCESS

Our Business Model: Data Centric Media Hypermarket

Transitioning to fully integrated data structure

Prepared by Investor Relations Department VGI Global Media Plc

DATA ANALYTICS & SEGMENT CREATION

Payment platform Data type:

  • Demographic, spending,

location, travel Data source:

  • BTS station/ BRT
  • Retail merchant
  • Supermarket/ store
  • Rabbit Line Pay

Service platform Data type:

  • Demographic, spending, financial

Data source:

  • Insurance aggregator website
  • Micro loan offering through the

partnership with AEON Online platform Data type:

  • Lifestyle, interest

Data source:

  • Online brand partners
  • Published content in

www.rabbitdaily.co.th

OFFICE OUTDOOR AVIATION DIGITAL TRANSIT ACTIVATION

AUDIENCE TARGETING AUTOMATED MEDIA PLANNING CROSS CHANNEL TARGETING

  • AD. EFFECTIVENESS RESEARCH

MONETISING DATA THROUGH OUR MEDIA PLATFORMS COLLECT ONLINE engagement DISTRIBUTE OFFLINE awareness

Adaptive conversion

Section 4: 2017/18 Target and Strategic Update

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Five-Year Strategic Roadmap

  • Additional contracts from BTS new lines (Dark Green North &

South, Light Green, Pink, Yellow, Grey and LRT)

  • Expand media footprint into an international market

TRANSIT OFFICE

  • Cover 200 office buildings in Bangkok CBD
  • Secure at least 90% market share

OUTDOOR

  • Convert some of static media into digital media
  • Value accretive acquisitions domestically and internationally

AVIATION

  • The no. 1 aviation media in South East Asia

ACTIVATION

  • Expand network to commercial space on BTS stations and office

buildings RABBIT MEDIA • Broadening and deepening Rabbit’s database of consumer behavior for increased advertising target-ability across VGI’s media platforms

  • Expand offline merchants network nationwide

focusing on transit and retail segments

  • Expand our online network through rabbit line pay
  • Offering different services through data and

advertising platform

  • Enriching our data depth for our member profile

4-5X expected increased in BTS- related media inventory Presence in at least 2 inter. market TRANSIT (BTS) OFFICE 200 buildings OUTDOOR 20% contribution from digital media, 4 domestic M&A, 3 international M&A AVIATION Additional contracts with 4 airlines Expand to 6-8 countries in Southeast Asia ACTIVATION Potential expansion on VGI’s existing network RABBIT MEDIA 10% contribution to total media rev.

MEASUREMENTS GROWTH PILLARS

RABBIT LINE PAY USERS >6.0mn users RIDERSHIP (E) >1.9mn passengers/ day INSURANCE PREMIUMS >100mn/ month CONSUMER LOAN >THB 4bn

2021/22

REVENUE CONTRIBUTION

80% 20%

MEDIA DIGITAL SERVICES

2021/22 GOALS Revenue of THB 7,500 – 8,000mn (20% CAGR) NPAT growth of 15 – 20% CAGR

E-commerce Peer 2 Peer Bill payment Insurance Website Micro Loans

MEDIA PAYMENT SERVICES

RABBIT CARD >15.0mn cards

30

Section 4: 2017/18 Target and Strategic Update

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VGI Group: M&A Criteria

 Every target has a robust standalone performance  Every acquired company needs to perform better with VGI Group  Every asset delivers synergies back to VGI Group VGI: M&A & Investment Criteria Domestic % of shareholding 25% - 70% for the first 3 years partnership P/E 10x More than 10x P/E must be based on strong EBITDA generating or expected synergies Acquired/ Invested company’s Performance Self survival assets (avoid company that generate earnings from deal-based sale) International  Reliable local partners with substantial stake for them to continue working with the ventures Rabbit: Investment Criteria % of shareholding Minimum threshold of 25% Investment size No more than THB 30mn per transaction Key criteria Provides strategic synergies

CLEAR BASIS FOR EVERY M&A ACTIVITIES

MACO M&A & Investment Criteria % of shareholding 25% - 70% P/E No more than 10x EBITDA More than 10x P/E must be based on strong EBITDA generating Investment size No more than THB 500mn per transaction Project-based Breakeven Half of asset’s life

31

Section 4: 2017/18 Target and Strategic Update

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Agenda

Section 1 Company at a Glance 4 Section 2 VGI #1 in OOH and Expanding Our Business Around Data-driven Sector 10 Section 3 Business Profile by Segment and Potential Upsides Section 3.1 Transit Media BTS-related Media 13 SBK-related Media, Malaysia 17 Section 3.2 Outdoor Media 18 Section 3.3 Office Building and Residential Media 20 Section 3.4 Aviation Media 22 Section 3.5 Activation Media 23 Section 3.6 Digital Services Business 24 Section 4 2017/18 Target and Strategic Update 28 Section 5 2016/17 Financial Performance 33 Section 6 2Q 2017/18 Financial in More Detail & Business Update 35 Appendices 32

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VGI Financial Performance

1 2 3 4

Revenue expansion driven by M&A in MACO, Rabbit Group as well as 2% from organic growth.

1

Consolidated Outdoor media from MACO started in June 2016

2

Total of 27 additional buildings were added in our media portfolio, surpassing our year-end target

3

Growth was driven by 1) BSS from card issuing fee, improvement in marketing and co-promotion from Rabbit cards and 2) increase in insurance commission revenue.

4

2013/14 2014/15 2015/16 (restated)

1

2016/17 YoY (%) INCOME STATEMENT (THB mn) Operating Revenue 3,149 2,963 2,341 3,052 30.4% Transit Media 1,679 1,805 1,793 1,865 4.0% Outdoor Media

  • 550

n/a Office Building & Other Media 175 189 240 266 10.2% Modern Trade Media2 1,295 969 50

  • n/a

Digital Services

  • 258

371 43.8% Cost of sales 1,342 1,325 881 1,269 44.1% Gross profit 1,807 1,638 1,461 1,783 22.0% EBITDA 1,510 1,225 1,391 1,356

  • 2.5%

Net profit 1,146 838 941 826

  • 12.1%

BALANCE SHEET (THB mn) Total assets 2,741 3,286 5,563 7,985 Total liabilities 788 1,457 1,728 4,880 Interest bearing debt No leverage 762 446 2,957 Total shareholders' equity 1,953 1,829 3,835 3,105 CASH FLOW (THB mn) Cash from operating activities 1,292 1,070 732 957 Capital expenditures (510) (521) (207) (311) PER SHARE DATA (THB/ share) Earnings per share 0.3 0.1 0.1 0.1 Dividend per share 0.3 0.2 0.1 0.1 Book value per share 0.6 0.3 0.6 0.5 KEY RATIOS Gross profit margin (%) 57.4% 55.3% 62.4% 58.4% EBITDA margin (%) 47.9% 41.4% 59.4% 44.5% Net profit margin (%) 36.4% 28.3% 40.2% 27.1% Debt to equity (times) No leverage 0.3x 0.1x 1.0x ROA (%) 43.1% 27.8% 19.1% 12.2% ROE (%) 60.7% 44.3% 31.6% 23.8%

Section 5: 2016/17 Financial Performance

33

Weaker margin was mainly due the mourning period effect and

  • ne-time SG&A related to restructuring and integration efforts.

5 5

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.

Office & Other Media Digital Services Transit Media

THB 3,052mn

Outdoor Media 61.1% 18.0% 8.7% 12.2%

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Section 1 Company at a Glance 4 Section 2 VGI #1 in OOH and Expanding Our Business Around Data-driven Sector 10 Section 3 Business Profile by Segment and Potential Upsides Section 3.1 Transit Media BTS-related Media 13 SBK-related Media, Malaysia 17 Section 3.2 Outdoor Media 18 Section 3.3 Office Building and Residential Media 20 Section 3.4 Aviation Media 22 Section 3.5 Activation Media 23 Section 3.6 Digital Services Business 24 Section 4 2017/18 Target and Strategic Update 28 Section 5 2016/17 Financial Performance 33 Section 6 2Q 2017/18 Financial in More Detail & Business Update 35 Appendices

Agenda

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Management version

PROFIT AND LOSS STATEMENT

2Q 2017/18 Overview

35 Section 6: 2Q 2017/18 Financial in More Detail & Business Update

  • Expansion of 23.5% driven by healthy performance of all

business units

  • Better gross profit margin due to higher revenue growth and

improved cost management

  • EBITDA rose as a result of the considerably improved revenue
  • Adjusted net profit increased by 10.3%, despite 1) an increase in

concession fee of Transit media from 5% to 10%, 2) higher interest expenses from loan for financing to Rabbit acquisition and 3) higher effective tax rate (27%) due to gain on sale of MACO’s shares

1Adjusted for share of investment in JV and associates before tax. 2 As shown in financial statement, excluding minority interest. 3Adjusted for amortisation of acquisition in MACO and share of investment in JV and associates after tax.

KEY FACTORS 2Q 17/18 REVENUE CONTRIBUTION 8.9% DIGITAL SERVICES THB 87mn 8.5% OFFICE & OTHER THB 83mn 23.7% OUTDOOR THB 232mn TRANSIT THB 576mn 58.9% THB 978mn (THB mn) 2Q 16/17 1Q 17/18 2Q 17/18 QoQ (%) YoY (%) Operating revenue 792 852 978 14.9% 23.5% Gross profit 466 496 591 19.2% 26.7% EBITDA 320 352 444 26.0% 38.8% Adjusted EBITDA1 324 361 451 25.1% 39.2% EBIT 236 251 333 32.5% 41.3% Interest expenses 6 23 25 9.1% 288.6% Tax 51 55 83 52.6% 62.7% Net Profit2 194 175 202 15.4% 4.1% Adjusted net profit3 207 192 228 19.0% 10.3% Gross profit margin 58.9% 58.2% 60.4% EBITDA margin 40.4% 41.4% 45.4% Adjusted EBITDA margin 40.9% 42.3% 46.1% Net profit margin 24.5% 20.5% 20.6% Adjusted net profit margin 26.1% 22.5% 23.3%

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Management version

153 181 160 170 232

2Q 3Q 4Q 1Q 2Q

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

Revenue by Business Units

Broad and resilient portfolio

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

+51.8% YoY

87 104 101 97 87

2Q 3Q 4Q 1Q 2Q

+0.3% YoY

2016/17 2017/18 2016/17 2017/18

459 489

60 87

478 441 525 519 576

2Q 3Q 4Q 1Q 2Q

+20.5% YoY

2016/17 2017/18

NEW SYNERGIES ON TRANSIT MEDIA

74 47 77 66 83

2Q 3Q 4Q 1Q 2Q

+12.1% YoY

2016/17 2017/18 Successfully added 8 new office buildings to our portfolio, in line with the year-end target to acquire 10 additional contracts. Recognised more synergies from additional 3 station sponsorship campaign with Aquarius, COMICO and AEON. Benefitted from the rolling out of 21 digital screens and consolidation effect of Multi Sign and COMASS.

Section 6: 2Q 2017/18 Financial in More Detail & Business Update

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Management version

Balance Sheet & Cash Flow

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

5,372 5,851 2,613 2,171 31 March 17 30 September 17 27.1% 72.9% Non-current assets Current assets 32.7% 67.3% 8,022 7,985

Target

1H 17/18 17/18 Transit Media 98 250 Office & Others Media 19 90 Total VGI 117 340 Outdoor Media 212 210 Digital Services 21 150 Total VGI, MACO & Rabbit 350 700

CAPEX (THB mn)

799 454 530* 469 406**

Beginning cash (Restated) (31/3/2017) CFO CFI CFF Ending cash (30/9/2017)

*After tax and net tax refund (THB 130mn) and interest expense (THB 44mn) **Included translation adjustment of THB 0.6mn

Equity 3,105 3,438 2,072 2,057 2,808 2,527 31 March 17 30 September 17 Non-current liabilities Current liabilities 38.9% 25.9% 35.2% 8,022 7,985 42.9% 25.6% 31.5% IB Debt THB 2,957mn THB 2,810mn D/E ratio 1.0x 0.8x

Section 6: 2Q 2017/18 Financial in More Detail & Business Update

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Management version

Business Update

38

6 MONTHS KEY DEVELOPMENTS

TRANSIT: Bangkok’s Network

  • OPPO brand at Mo Chit, Ploenchit and Saladang
  • AEON brand at Asok
  • COMICO brand at Victory Monument
  • Aquarius at Chong Nonsi

Malaysia’s Network

  • >200,000 ridership in SBK Line
  • Media on 2 stations and 15 trains

OFFICE:

  • Total 170 office buildings (1,309 digital screens)
  • 8 new office contracts / 10 target buildings

OUTDOOR: • Fully operated 21 digital screens / 51 target screens RABBIT:

  • 8.1mn cardholders
  • 4,400 retail points
  • 133 brand partners
  • 2.4mn Rabbit LinePay users
  • 425 merchants

Section 6: 2Q 2017/18 Financial in More Detail & Business Update

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Agenda

Section 1 Company at a Glance 4 Section 2 VGI #1 in OOH and Expanding Our Business Around Data-driven Sector 10 Section 3 Business Profile by Segment and Potential Upsides Section 3.1 Transit Media BTS-related Media 13 SBK-related Media, Malaysia 17 Section 3.2 Outdoor Media 18 Section 3.3 Office Building and Residential Media 20 Section 3.4 Aviation Media 22 Section 3.5 Activation Media 23 Section 3.6 Digital Services Business 24 Section 4 2017/18 Target and Strategic Update 28 Section 5 2016/17 Financial Performance 33 Section 6 2Q 2017/18 Financial in More Detail & Business Update 35 Appendices 39

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Company and Organisation Structure

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

ORGANISATION STRUCTURE

Advisory Board Corporate Governance Committee

COMPANY STRUCTURE BTSG VGI

VGI Advertising Media

100%

888 Media

100%

POV

100%

MACO

30.7%

Aero Media

30%

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

BTSC

97.5% 22.1% 51%

BSS

90%

BSSH

90%

  • 0.5% Kanjanapas

Family

  • 26.4% Public

Demo Power

40%

Titanium Compass

19%

Appendix: Company and Organisation Structure

40

Chief Executive Officer VGI Malaysia

100%

The ICON VGI

25%

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52.2% 10.5% 10.5% 1.8% 20% 49% 30% 80% 51% 49% 49% 50% 25% 25% 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% 22.1% 90% 90% 10% 10%

BSSH

LINE Biz + Pte LINE Company (Thailand)

Appendix: Rabbit’s Company Structure

41

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Transit Media Products

42

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

Appendix: Transit Media Products

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SBK Line Products

43

Appendix: SBK Line Products

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Office & Residential Media Products

44

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

Appendix: Office & Residential Media Products

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Outdoor Media Products

45

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

Appendix: Outdoor Media Products

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Aviation Media Products

46

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

Appendix: Aviation Media Products

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Activation Services

47

Appendix: Activation Services

DEMO POWER SERVICES, PARTNERS AND BRANDS

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

  • I. SERVICES
  • II. BUSINESS PARTNERS
  • III. BRANDS

PRODUCT SAMPLING ON BTS NETWORK

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Station Sponsorship Campaign on BTS Network

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Appendix: Station Sponsorship Campaign on BTS Network

COMICO AT VICTORY MONUMENT AQUARIUS AT CHONG NON SI OPPO AT MO CHIT, PLOENCHIT AND SALADANG AEON AT ASOK

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SLIDE 49

Prepared by Investor Relations Department VGI Global Media Plc

Bangkok Rail Mass Transit Master Plan

515km* by 2029, 23.8% 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

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SLIDE 50

Prepared by Investor Relations Department VGI Global Media Plc

Potential Developer of Mass Transit Extension

BTSG focused on new lines: total length of 137.3km

Appendix: Potential Developer of Mass Transit Extension

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PINK LINE

  • Khae Rai – Min Buri (34.5km)
  • Targeted contract signed: Apr 2017
  • Target operation: 2021

DARK GREEN NORTH LINE

  • Mo Chit – Saphan Mai – Khu Khot (18.2km)
  • Status: under construction
  • Expected O&M award: early 2017
  • Target operation: 2020

GREY LINE

  • Watcharaphol – Rama 9 Bridge (26.0km)
  • Awaiting EIA approval
  • Expected bidding (phase I): 2017
  • Target operation (phase I): 2022

Phase I: Watcharaphol – Thong Lo (16.3km)

LIGHT RAIL TRANSIT (LRT)

  • Bang Na – Suvarnabhumi (18.3km)
  • Expected bidding: 2017
  • Target operation: 2022

DARK GREEN SOUTH LINE

  • Bearing – Samut Prakarn (12.6km)
  • Status: under construction
  • Expected O&M award: early 2017
  • Target operation: Late 2018

LIGHT GREEN LINE

  • Bang Wa –

Borommaratchachonnani (7.0km)

  • Expected O&M award: 2017
  • Target operation: 2020

YELLOW LINE

  • Lad Prao– Sam Rong (30.4km)
  • Targeted contract signed: Apr 2017
  • Target operation: 2021
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SLIDE 51

Prepared by Investor Relations Department VGI Global Media Plc

Malaysian Mass Transit Map

SBK Line Operated Line

Appendix: Malaysia Mass Transit Map

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SLIDE 52

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

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SLIDE 53

Prepared by Investor Relations Department VGI Global Media Plc

Warrant Issuance and Stock Dividend

WARRANT ISSUANCE: 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

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

RATIONALE Expected maximum proceeds THB 12,011,067,698 1:1 STOCK DIVIDEND (INCREASING CAPITAL)

  • No. of allocated shares

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

STOCK AND CASH DIVIDEND

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

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