The first quarter of 2017/18 (ended 30 June 2017) 1 VGi GLOBAL MEDIA PLC MANAGEMENT DISCUSSION & ANALYSIS 1Q 2017/18 2 AUG 2017 MEDIA INDUSTRY AND BUSINESS IMPACT ANALYSIS Advertising spending

in 20172, mainly due to an ongoing postponement of festivities subsequent to the mourning period over the passing of His Majesty King Bhumibol Adulyadej and the shrinkage of advertising spending in a

and promotional spending as a percentage to sales. In addition, administrative expenses declined by -44.9% YoY in Q4’18 due to last year’s various extra expenses aforementioned. The Company Q4’18

income. Public spending also increased from spending on goods and services and compensation expenses while capital spending declined from the high base effect of last year from the disbursement of

, core SG&A declined, benefitting from lower selling and marketing expenses, administrative expenses reversal (lower pension spending), lower consulting fee as well as last year’s one-time expenses related

, decreasing of 128 million baht or 2% q-q and 12% y-y. This is the result of the COVID-19 pandemic situation and economic slowdown has made consumers more cautious on spending, especially in cash loan products

loss and high base of 2Q21 with one-time other income. Revised guidance from rising economic concerns Due to a rising concern on inflation, consumer spending, and continued intense competition, AIS

, residential areas with high spending power and populated in order to expand its reach to more potential customers. Focus on Expanding Oversea Branches During September 2023, the Company plans to open the 2nd

, as well as the outstanding credit card balances, despite an increase in credit card spending. Nonetheless, macroeconomic factors and government stimulus measures remain influential, particularly the

farm and non-farm income. Public spending also increased from spending on goods and services and compensation expenses while capital spending declined from the high base effect of last year from the