1 MD&A 2Q 2018 (ended 30 June 2018) MASTER AD PLC MANAGEMENT DISCUSSION & ANALYSIS 2Q 2018 6 AUG 2018 MEDIA INDUSTRY In recent years, advertising industry has witnessed the shift in the media

The first quarter of 2018/19 (ended 30 June 2018) 1 VGi GLOBAL MEDIA PLC MANAGEMENT DISCUSSION & ANALYSIS 1Q 2018/19 8 AUG 2018 MEDIA INDUSTRY The Thai advertising market has been shaped by major

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

due to THB appreciation against EUR and GBP • Net debt to equity ratio as of 30 June 2019 was 0.56x, comparing with 0.55x at the end of last year SIGNIFICANT EVENTS 4 major renovation works of Vienna

, 2018 (Unit : Thousand Baht) Product Type Q2/2019 Q2/2018 Increase % Thousand Baht % Thousand Baht % (Decrease) Consumer Products 481,032 58.0 398,495 51.1 82,537 20.7 Industry Products 324,332 39.0

of goods 12,923 29,910 (57%) Net foreign exchange gains 216 105 105% Net gain from write-off the expired legal prescription of liabilities 10 119 (91%) Net gain from debt restructuring 0 1 (100

conditions and increasing competition in the Japanese restaurant industry. Other brands such as AKA and On the Table were meanwhile able to maintain positive SSSG due to the strength of the brands and the

Baht 3rd Quarter 2019 3rd Quarter 2018 % Variance Income Revenue from sale of goods 3,083 8,666 (64%) Net foreign exchange gains 19 113 (83%) Gain from debt restructuring 0 1 (100%) (Reversal of) loss on

parts businesses and 26.1% increase in dealership businesses respectively whilst industry production was up by 9.7%. The increase in revenue was due to the following reasons: 1) Automotive Parts Business

Industry After the improving COVID-19 situation along with the relaxation of the zero-COVID policy measures, the tourism industry has started to recover in Thailand. The number of tourists traveling to