VGI Global Media PCL

2Q 15/16 Earnings Presentation 30 Oct 2015

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

Disclaimer

Section 1 Media Industry Overview

Section 2 2Q 15/16 Financial Performance

Section 2.1 BTS-related Media

Section 2.2 Office Building & Other Media

Section 2.3 Balance Sheet & Cash Flow

Section 3 Business Update

Agenda

Media Industry Overview THAI ADSPEND VALUE (THB bn)

4 Section 1: Media Industry Overview

1Q 15/16

2Q 15/16

1 FMCG 42% 42%

2 MOTOR VEHICLES 7% 7%

3 GOV & COMMUNITY ANNOUNCEMENT

5% 7%

4 COMMUNICATION 6% 6%

5 LEISURE 5% 5%

TOP 5 65% 67%

OTHERS 35% 33%

1Q 15/16

2Q 15/16

1 FMCG 42% 41%

2 REAL ESTATE 6% 11%

3 COMMUNICATION 6% 7%

4 RETAIL SHOPS/STORES

6% 5%

5 LEISURE 2% 4%

TOP 5 62% 68%

OTHERS 38% 32%

TV, 46.6%

Digital TV, 17.1%

Newspapers, 9.8%

Cable/ Satellite TV, 5.2% Radio, 4.7%

Cinema, 4.5% Magazines, 3.5%

Internet, 0.9%

Transit, 4.1%

Outdoor, 3.4%

In-Store, 0.3%

2Q 15/16 MEDIA ADSPEND (THB bn)

Source: The Nielsen Company (Thailand) Limited.

THB 30.8bn

2Q 14/15 1Q 15/16 2Q 15/16 % QoQ % YoY

TV 16.4 14.8 14.3 -3.4% -12.4%

Traditional Media* 6.1 5.6 5.5 -0.5% -9.7%

Digital TV 2.9 5.6 5.3 -5.4% 78.9%

Cable/Satellite TV 1.5 1.7 1.6 -3.7% 3.6%

Cinema 1.2 1.3 1.4 5.3% 16.0%

Transit 1.0 1.1 1.3 12.8% 31.5%

Outdoor 1.0 1.1 1.1 -3.0% 7.2%

Internet 0.3 0.3 0.3 7.3% 8.8%

In-Store 0.5 0.1 0.1 -37.3% -82.6%

Total Industry 30.9 31.5 30.8 -2.4% -0.3%

*Includes Newspaper, Magazines and Radio ** Excludes Modern Trade Media Revenue

TOP 5 ADSPEND BY BUSINESS SEGMENT

OVERALL MEDIA INDUSTRY VGI MASS TRANSIT

28,755 29,264 28,951

26,407

28,894

30,869 32,200

29,250

31,521 30,765

460 486 486 422

476 490 541

487 499 537

1Q13/14

2Q13/14

3Q13/14

4Q13/14

1Q14/15

2Q14/15

3Q14/15

4Q14/15

1Q15/16

2Q15/16

Industry AdSpend VGI Revenue**

+7.6% QoQ

+9.5% YoY

-0.3% YoY

-2.4% QoQ

THAI ADSPEND VS VGI REVENUE (THB mn)

Section 1 Media Industry Overview

Section 2 2Q 15/16 Financial Performance

Section 2.1 BTS-related Media

Section 2.2 Office Building & Other Media

Section 2.3 Balance Sheet & Cash Flow

Section 3 Business Update

Agenda

6

CONSOLIDATED P&L SNAPSHOT

2Q 15/16 Overview

Section 2: Financial Performance

REVENUE CONTRIBUTION GROSS PROFIT CONTRIBUTION

CONSOLIDATED P&L SNAPSHOT (AS IF NO MODERN TRADE MEDIA)

90%

10%

THB 537mn

96%

4%

BTS

Office Building &Other Media

THB 345 mn

2Q 15/16 1Q 15/16 %QoQ 2Q 14/15 % YoY

Operating revenue 537 499 8% 490 10%

Cost of sales 192 162 19% 125 53%

Gross profit 345 337 2% 365 -6%

EBITDA 310* 307* 1% 334 -7%

Net profit from operation

214 208 3% 243 -12%

Net profit includes extra items

259 253 3% 243 7%

Gross profit margin 64% 68% 75%

EBITDA margin 58% 61% 68%

NPAT margin from operation

40% 42% 50%

NPAT margin included extra items

48% 51% 50%

2Q 15/16 1Q 15/16 %QoQ 2Q 14/15 % YoY

Operating revenue 537 549 -2% 795 -33%

Cost of sales 192 221 -13% 361 -47%

Gross profit 345 328 5% 434 -21%

EBITDA 351 343 2% 370 -5%

Net profit from operation

214 195 9% 264 -19%

Net profit includes extra items 259 240 8% 264 -2%

Gross profit margin 64% 60% 55%

EBITDA margin 65% 62% 47%

NPAT margin from operation

40% 36% 33%

NPAT margin included extra items

48% 44% 33%

*Excluding extra items

210

143

96

190

149

106

205

160

116

Train Station Merchandising andothers

2Q 14/15

1Q 15/16

2Q 15/16

7

REVENUE (THB mn)

+8% QoQ

+7% YoY

REVENUE BREAKDOWN (THB mn)

43%

33%

24%

47%

32%

21%

43%

34%

24%

GROSS PROFIT MARGIN (%)

BTS-related Media

KEY TAKEAWAY

Section 2.1: BTS-related Media

448 445

480

2Q 14/15 1Q 15/16 2Q 15/16

76%

72%

69%

2Q 14/15

1Q 15/16

2Q 15/16

• Revenue increased by 7% YoY mainly from;

1) increase occupancy of media in BTS

2) higher occupancy in merchandising space

3) increase revenue from 7 extension stations

• Gross Profit decreased to 69% due to;

1) higher depreciation and maintenance fee of new digital media

2) rental fee of new stations

3) increase in sales and marketing promotion

37

5

45

9

47

9

Office Buildings Other Media

2Q 14/15

1Q 15/16

2Q 15/16

8

REVENUE (THB mn)

+5% QoQ

+33% YoY

REVENUE BREAKDOWN (THB mn)

OFFICE BUILDING MEDIA GPM (%)

Office Building & Other Media

OTHER MEDIA GPM (%)

Section 2.2: Office Building & Other Media

+6% QoQ

+28% YoY

-0.6% QoQ

+71% YoY

42

54 57

2Q 14/15 1Q 15/16 2Q 15/16

62%

62%

60%

30% 60%

2Q 14/15

1Q 15/16

2Q 15/16

21%

-133%

-164%

-200% -100% 0% 100%

2Q 14/15

1Q 15/16

2Q 15/16

1,829 2,156

24 24

1,433 1,431

31-Mar-15 30-Sep-15

2,244 2,373

1,042 1,237

31-Mar-15 30-Sep-15

9

ASSETS BREAKDOWN (THB mn)

32%

68%

LIABILITY & EQUITY BREAKDOWN (THB mn)

CASH FLOW (THB mn)

Balance Sheet & Cash Flow

CAPEX (THB mn)

Section 2.3: Balance Sheet & Cash Flow

Non-current assets

Current assets 34%

66%

3,286

3,611

Equity

Non-current liabilities

Current liabilities

55%

1%

44%

59%

1%

40%

3,286

3,611

614 673

188

84 59* 18

172

0

100

200

300

400

500

600

700

800

900

1000

Begining 30/6/2015

CFO Investment in other

businesses

CapEx Interest/ Dividend income &

Others

CFF (Dividend

paid)

Ending 30/9/2015

1Q 15/16 2Q 15/16 1H 15/16 FY 15/16E

BTS-related Media 2 52 54 122

Office building & Others 12 28 40 146

Total 14 80 94 268

Strictly Confidential

CFI: THB 43mn

* Net cash from selling assets in Big C of THB 21mn

Section 1 Media Industry Overview

Section 2 2Q 15/16 Financial Performance

Section 2.1 BTS-related Media

Section 2.2 Office Building & Other Media

Section 2.3 Balance Sheet & Cash Flow

Section 3 Business Update

Agenda

11

Business Update BTS-related Media

Section 3: Business Update

UPGRADING BTS LCD SCREENS

• Upgraded LED screens from 17 inches to 21 inches, totaling

360 screens across 15 trains in 2Q 2015/16.

12

Business Update Office Building Media

Section 3: Business Update

LARGEST BUILDING PORTFOLIO IN THAILAND

• Added 15 new contracts into the office building portfolio,

surpassing the year-end target to acquire 10 additional

contracts. (total of 118 buildings) in 2Q 15/16

• The Company aims to secure 12 additional office building

contracts within December 2015, bringing the total number

of office building contracts to 130.

13

Business Update Other Media – Chamchuri Square

Section 3: Business Update

CHAMCHURI SQUARE

• Successfully installed LCD and LED screens inside and outside the building

• Expected to generate revenue in 3Q 15/16