The third quarter of 2017/18 (ended 31 December 2017) 1 VGi GLOBAL MEDIA PLC MANAGEMENT DISCUSSION & ANALYSIS 3Q 2017/18 12 FEB 2018 MEDIA INDUSTRY AND BUSINESS IMPACT ANALYSIS Advertising

the future. 3. Management’s Message Flat Steel Product ($/T) Management’s Discussion and Analysis (MD&A) For Q3/2017 6 Overview of World Steel Industry According to the World Steel Association’s report

increase in bank overdraft and short-term loan from financial institutions of THB 82 million, (2) an increase in current portion of long-term loan of THB 56 million, (3) an increase in income tax payable of

law that going to protect steel industry. The good point of Anti- Circumvention law is no expiring date, unlike other measures i.e. Anti-Dumping, Safe Guard. The consumption of this quarter is

. This will be the first law that going to protect steel industry. The good point of Anti- Circumvention law is no expiring date, unlike other measures i.e. Anti-Dumping, Safe Guard. The consumption of

V3 22/02/62 14:27 น. 0 V3 22/02/62 14:27 น. 1 Management Discussion and Analysis Overview of the Economy and Banking Industry Thai Economy in 2018 In 2018 the Thai economy grew by 4.1 percent, up

V3 22/02/61 10:09 น. 0 V3 22/02/61 10:09 น. 1 Management Discussion and Analysis Overview of the Economy and Banking Industry Thai Economy in 2017 In 2017, Thailand’s real GDP grew by 3.9 percent, up

% Margin -11% -89% -30% -70% Profit / (Loss) for the period (344,719) (2,415,470) 86% (621,089) (1,261,212) 51% Margin -17% -98% -38% -77% Portion of the Companies’ shareholders (166,308) (1,163,113) 85

% Portion of the Companies’ shareholders (272,672) (166,308) 64% (358,157) (621,089) -42% Margin -14% -8% -24% -38% 2 Financial performance in 2019 Revenue from sales and services for the year 2019 is Baht

consumption from private sector. However, expenses from the government sector, and tourism industry sector continued to increase, partly benefited from the return of Chinese tourists, and a decline of the